Sylvamo Corp

NOTE 17 FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA

The Company’s business segments, Europe, Latin America and North America, are consistent with the internal structure used to manage these businesses. As discussed in Note 8 Divestiture and Impairment of Business, the Company’s Russian operations have been classified as discontinued operations and as a result are no longer reported within the Europe business segment for any periods presented.

Business segment operating profits are used by the Company’s management to measure the earnings performance of its businesses. Management believes that business segment operating profit provides investors and analysts useful insights into our operating performance. We define business segment operating profit as our income from continuing operations before income taxes calculated in accordance with GAAP, excluding net interest expense (income) and net business special items which includes net corporate special items.

External sales are defined as those that are made to parties outside the Company’s combined group, whereas sales by business segment in the Net Sales table are determined using a management approach and include intersegment sales.

INFORMATION BY BUSINESS SEGMENT

Net Sales

The Company had one customer within our North America business segment that represented approximately 14%,13% and 12% of our consolidated and combined net sales for the years ended December 31, 2023, 2022 and 2021, respectively.

Business Segment Operating Profit

Other Special Items, Net

Assets

(a) Includes corporate assets.

Capital Spending

Depreciation, Amortization and Cost of Timber Harvested

INFORMATION BY GEOGRAPHIC AREA

External Net Sales (a)

(a)Net sales are attributed to countries based on the location of the seller.

Long-Lived Assets