CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operations:
Net earnings	$ 157	$ 81
Noncash charges (credits) to earnings:
Depreciation, depletion and amortization	133	142
Basis of real estate sold	14	17
Deferred income taxes, net	3	18
Gains on sales of non-strategic assets	(7)	(41)
Pension and other postretirement benefits (Note 8)	32	4
Share-based compensation expense	10	24
Equity (earnings) loss from joint ventures (Note 7)	0	(3)
Foreign exchange transaction (gains) losses (Note 16)	3	(13)
Change in:
Receivables less allowances	(70)	(47)
Receivable/payable for taxes	(36)	10
Inventories	(28)	(43)
Prepaid expenses	(9)	(1)
Accounts payable and accrued liabilities	(137)	(70)
Pension and postretirement contributions (Note 8)	(22)	(17)
Distributions received from joint ventures	0	5
Other	(8)	(19)
Net cash from operations	35	47
Cash flows from investing activities:
Capital expenditures for property and equipment	(52)	(57)
Capital expenditures for timberlands reforestation	(23)	(16)
Acquisition of timberlands	0	(6)
Proceeds from sale of non-strategic assets	8	70
Distributions received from joint ventures	0	24
Cash and cash equivalents acquired in Plum Creek merger (Note 4)	0	9
Other	(1)	0
Cash from (used in) investing activities	(68)	24
Cash flows from financing activities:
Cash dividends on common shares	(233)	(241)
Proceeds from issuance of long-term debt	0	1,098
Payments of debt	0	(720)
Repurchase of common stock (Note 5)	0	(798)
Proceeds from stock options exercised	55	4
Other	(10)	(11)
Cash used in financing activities	(188)	(668)
Net change in cash and cash equivalents	(221)	(597)
Cash and cash equivalents from continuing operations at beginning of period	676	1,011
Cash and cash equivalents from discontinued operations at beginning of period	0	1
Cash and cash equivalents at beginning of period		1,012
Cash and cash equivalents from continuing operations at end of period	455	411
Cash and cash equivalents from discontinued operations at end of period	0	4
Cash and cash equivalents at end of period		415
Cash paid (received) during the period for:
Interest, net of amount capitalized of $3 and $2	120	125
Income taxes	$ 59	$ (13)