10-Q Filing

SYLVAMO CORP CIK: 1856485 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001856485-21-000009`
Period End Date	20210930
Filing Date	20211112
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	syl-20210930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 40 Cash Flow Statement 56 Comprehensive Income 24

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and temporary investments	`CashCashEquivalentsAndShortTermInvestments`	$95.00M	USD	Point-in-time
Cash and temporary investments	`CashCashEquivalentsAndShortTermInvestments`	$132.00M	USD	Point-in-time
Trade	`AccountsNotesAndLoansReceivableNetCurrent`	$400.00M	USD	Point-in-time
Trade	`AccountsNotesAndLoansReceivableNetCurrent`	$422.00M	USD	Point-in-time
Inventories	`InventoryNet`	$342.00M	USD	Point-in-time
Inventories	`InventoryNet`	$344.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$96.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$61.00M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.12B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.02B	USD	Point-in-time
Plants, Properties and Equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$911.00M	USD	Point-in-time
Plants, Properties and Equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$974.00M	USD	Point-in-time
Forestlands	`Forestlands`	$293.00M	USD	Point-in-time
Forestlands	`Forestlands`	$285.00M	USD	Point-in-time
Goodwill	`Goodwill`	$143.00M	USD	Point-in-time
Goodwill	`Goodwill`	$136.00M	USD	Point-in-time
Right of Use Assets	`OperatingLeaseRightOfUseAsset`	$43.00M	USD	Point-in-time
Right of Use Assets	`OperatingLeaseRightOfUseAsset`	$46.00M	USD	Point-in-time
Deferred Charges and Other Assets	`DeferredCostsAndOtherAssetsNoncurrent`	$336.00M	USD	Point-in-time
Deferred Charges and Other Assets	`DeferredCostsAndOtherAssetsNoncurrent`	$343.00M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.91B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.74B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$315.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$259.00M	USD	Point-in-time
Notes payable and current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$126.00M	USD	Point-in-time
Notes payable and current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$4.00M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$68.00M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$73.00M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$25.00M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$110.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$160.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$134.00M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$784.00M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$490.00M	USD	Point-in-time
Long-Term Debt	`LongTermDebtAndCapitalLeaseObligations`	$22.00M	USD	Point-in-time
Long-Term Debt	`LongTermDebtAndCapitalLeaseObligations`	$1.39B	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$163.00M	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$170.00M	USD	Point-in-time
Other Liabilities	`OtherLiabilitiesNoncurrent`	$132.00M	USD	Point-in-time
Other Liabilities	`OtherLiabilitiesNoncurrent`	$117.00M	USD	Point-in-time
Commitments and Contingent Liabilities (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingent Liabilities (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Parent company investment	`NetEquityInvestmentByParent`	$1.89B	USD	Point-in-time
Parent company investment	`NetEquityInvestmentByParent`	$3.59B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.63B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.48B	USD	Point-in-time
Total Parent Company Equity	`StockholdersEquity`	$2.28B	USD	Point-in-time
Total Parent Company Equity	`StockholdersEquity`	$265.00M	USD	Point-in-time
Total Parent Company Equity	`StockholdersEquity`	$2.09B	USD	Point-in-time
Total Parent Company Equity	`StockholdersEquity`	$2.08B	USD	Point-in-time
Total Parent Company Equity	`StockholdersEquity`	$2.11B	USD	Point-in-time
Total Parent Company Equity	`StockholdersEquity`	$2.52B	USD	Point-in-time
TOTAL LIABILITIES AND PARENT COMPANY EQUITY	`LiabilitiesAndStockholdersEquity`	$2.91B	USD	Point-in-time
TOTAL LIABILITIES AND PARENT COMPANY EQUITY	`LiabilitiesAndStockholdersEquity`	$2.74B	USD	Point-in-time
Related party receivable	`DueFromRelatedPartiesCurrent`	$221.00M	USD	Point-in-time
Related party receivable	`DueFromRelatedPartiesCurrent`	$25.00M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$738.00M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.21B	USD	3 Qtrs
NET SALES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$908.00M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.53B	USD	3 Qtrs
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$587.00M	USD	1 Quarter
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$1.64B	USD	3 Qtrs
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$500.00M	USD	1 Quarter
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$1.56B	USD	3 Qtrs
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$50.00M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$47.00M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$146.00M	USD	3 Qtrs
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$150.00M	USD	3 Qtrs
Depreciation, amortization and cost of timber harvested	`DepreciationDepletionAndAmortization`	$37.00M	USD	1 Quarter
Depreciation, amortization and cost of timber harvested	`DepreciationDepletionAndAmortization`	$108.00M	USD	3 Qtrs
Depreciation, amortization and cost of timber harvested	`DepreciationDepletionAndAmortization`	$38.00M	USD	1 Quarter
Depreciation, amortization and cost of timber harvested	`DepreciationDepletionAndAmortization`	$117.00M	USD	3 Qtrs
Distribution expenses	`SellingExpense`	$276.00M	USD	3 Qtrs
Distribution expenses	`SellingExpense`	$79.00M	USD	1 Quarter
Distribution expenses	`SellingExpense`	$98.00M	USD	1 Quarter
Distribution expenses	`SellingExpense`	$235.00M	USD	3 Qtrs
Taxes other than payroll and income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$22.00M	USD	3 Qtrs
Taxes other than payroll and income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$9.00M	USD	1 Quarter
Taxes other than payroll and income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$10.00M	USD	1 Quarter
Taxes other than payroll and income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$22.00M	USD	3 Qtrs
Interest (income) expense, net	`InterestIncomeExpenseNet`	$2.00M	USD	1 Quarter
Interest (income) expense, net	`InterestIncomeExpenseNet`	$3.00M	USD	3 Qtrs
Interest (income) expense, net	`InterestIncomeExpenseNet`	$19.00M	USD	3 Qtrs
Interest (income) expense, net	`InterestIncomeExpenseNet`	$-10.00M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$360.00M	USD	3 Qtrs
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$120.00M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$130.00M	USD	3 Qtrs
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$63.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$25.00M	USD	3 Qtrs
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$12.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$91.00M	USD	3 Qtrs
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$28.00M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$51.00M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$269.00M	USD	3 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$92.00M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$105.00M	USD	3 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$51.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$269.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$92.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$105.00M	USD	3 Qtrs
Depreciation, amortization and cost of timber harvested	`DepreciationDepletionAndAmortization`	$37.00M	USD	1 Quarter
Depreciation, amortization and cost of timber harvested	`DepreciationDepletionAndAmortization`	$108.00M	USD	3 Qtrs
Depreciation, amortization and cost of timber harvested	`DepreciationDepletionAndAmortization`	$38.00M	USD	1 Quarter
Depreciation, amortization and cost of timber harvested	`DepreciationDepletionAndAmortization`	$117.00M	USD	3 Qtrs
Deferred income tax provision (benefit), net	`DeferredIncomeTaxExpenseBenefit`	$-44.00M	USD	3 Qtrs
Deferred income tax provision (benefit), net	`DeferredIncomeTaxExpenseBenefit`	$-8.00M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$11.00M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$10.00M	USD	3 Qtrs
Accounts and notes receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$-98.00M	USD	3 Qtrs
Accounts and notes receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$28.00M	USD	3 Qtrs
Related party receivable	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$13.00M	USD	3 Qtrs
Related party receivable	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$13.00M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-41.00M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$9.00M	USD	3 Qtrs
Related party payable	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$12.00M	USD	3 Qtrs
Related party payable	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$3.00M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-55.00M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$99.00M	USD	3 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$52.00M	USD	3 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$47.00M	USD	3 Qtrs
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$379.00M	USD	3 Qtrs
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$225.00M	USD	3 Qtrs
Invested in capital projects	`PaymentsToAcquirePropertyPlantAndEquipment`	$54.00M	USD	3 Qtrs
Invested in capital projects	`PaymentsToAcquirePropertyPlantAndEquipment`	$59.00M	USD	3 Qtrs
Cash pool arrangements with Parent	`ProceedsFromCashPoolArrangementWithParentInvestingActivities`	$7.00M	USD	3 Qtrs
Cash pool arrangements with Parent	`ProceedsFromCashPoolArrangementWithParentInvestingActivities`	$202.00M	USD	3 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.00M	USD	3 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$8.00M	USD	3 Qtrs
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$140.00M	USD	3 Qtrs
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-51.00M	USD	3 Qtrs
Net transfers (to) from Parent	`NetTransferFromToParentFinancingActivities`	$-359.00M	USD	3 Qtrs
Net transfers (to) from Parent	`NetTransferFromToParentFinancingActivities`	$-201.00M	USD	3 Qtrs
Special payment to Parent	`PaymentsToParentFinancingActivities`	-	USD	3 Qtrs
Special payment to Parent	`PaymentsToParentFinancingActivities`	$1.52B	USD	3 Qtrs
Issuance of debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.50B	USD	3 Qtrs
Issuance of debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	3 Qtrs
Reduction of debt	`RepaymentsOfLongTermDebt`	$6.00M	USD	3 Qtrs
Reduction of debt	`RepaymentsOfLongTermDebt`	$15.00M	USD	3 Qtrs
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-386.00M	USD	3 Qtrs
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-216.00M	USD	3 Qtrs
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-96.00M	USD	3 Qtrs
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.00M	USD	3 Qtrs
Change in Cash and Temporary Investments	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$37.00M	USD	3 Qtrs
Change in Cash and Temporary Investments	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.00M	USD	3 Qtrs
Beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$141.00M	USD	Point-in-time
Beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$95.00M	USD	Point-in-time
Beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$132.00M	USD	Point-in-time
Beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$135.00M	USD	Point-in-time
End of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$141.00M	USD	Point-in-time
End of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$95.00M	USD	Point-in-time
End of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$132.00M	USD	Point-in-time
End of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$135.00M	USD	Point-in-time

Comprehensive Income 24 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$51.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$269.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$92.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$105.00M	USD	3 Qtrs
Change in cumulative foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-338.00M	USD	3 Qtrs
Change in cumulative foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-22.00M	USD	1 Quarter
Change in cumulative foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-115.00M	USD	3 Qtrs
Change in cumulative foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-100.00M	USD	1 Quarter
Net gains (losses) arising during the period	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$-1.00M	USD	3 Qtrs
Net gains (losses) arising during the period	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$-5.00M	USD	1 Quarter
Net gains (losses) arising during the period	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	-	USD	1 Quarter
Net gains (losses) arising during the period	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$-29.00M	USD	3 Qtrs
Reclassification adjustment for (gains) losses included in net earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$-1.00M	USD	1 Quarter
Reclassification adjustment for (gains) losses included in net earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$-5.00M	USD	1 Quarter
Reclassification adjustment for (gains) losses included in net earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$1.00M	USD	3 Qtrs
Reclassification adjustment for (gains) losses included in net earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$-25.00M	USD	3 Qtrs
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-342.00M	USD	3 Qtrs
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-17.00M	USD	1 Quarter
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-104.00M	USD	1 Quarter
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-117.00M	USD	3 Qtrs
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-237.00M	USD	3 Qtrs
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-12.00M	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$152.00M	USD	3 Qtrs
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$34.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.