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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operations:    
Net earnings $ 269 $ 157
Noncash charges to earnings:    
Depreciation, depletion and amortization 120 133
Basis of real estate sold 12 14
Deferred income taxes, net 10 3
Pension and other postretirement benefits (Note 8) 34 32
Share-based compensation expense 9 10
Foreign exchange transaction losses (Note 17) 2 3
Change in:    
Receivables less allowances (83) (70)
Receivable/payable for taxes 5 (36)
Inventories (66) (28)
Prepaid expenses (5) (9)
Accounts payable and accrued liabilities (173) (137)
Pension and postretirement benefit contributions and payments (16) (22)
Other 18 (15)
Net cash from operations 136 35
Cash flows from investing activities:    
Capital expenditures for property and equipment (61) (52)
Capital expenditures for timberlands reforestation (20) (23)
Proceeds from sale of nonstrategic assets 2 8
Other 3 (1)
Net cash used in investing activities (76) (68)
Cash flows from financing activities:    
Cash dividends on common shares (242) (233)
Payments of long-term debt (Note 10) (62) 0
Proceeds from exercise of stock options 25 55
Other (7) (10)
Net cash used in financing activities (286) (188)
Net change in cash and cash equivalents (226) (221)
Cash and cash equivalents at beginning of period 824 676
Cash and cash equivalents at end of period 598 455
Cash paid during the period for:    
Interest, net of amount capitalized of $3 and $3 105 120
Income taxes $ 17 $ 59