DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables)

12 Months Ended

Dec. 31, 2018

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Sales and Net Earnings from Discontinued Operations

Sales and Net Earnings from Discontinued Operations

DOLLAR AMOUNTS IN MILLIONS
	2016(1)
Total net sales	$	1,537
Costs of sales	1,283
Gross margin	254
Selling expenses	12
General and administrative expenses	29
Research and development expenses	5
Charges for integration and restructuring, closures and asset impairments(2)	63
Other operating income, net	(27		)
Operating income	172
Equity loss from joint venture	(4		)
Interest expense, net of capitalized interest	(5		)
Earnings from discontinued operations before income taxes	163
Income taxes	(97		)
Net earnings from operations	66
Net gain on divestiture of Cellulose Fibers	546
Net earnings from discontinued operations	$	612
(1) Discontinued operations in 2016 includes 335 days of the pulp business, 305 days of our printing papers joint venture operations, and 244 days of the liquid packaging board business. (2) Charges for integration and restructuring, closures and asset impairments consist of costs related to our strategic evaluation of the Cellulose Fibers businesses and transaction-related costs.

Cash Flows from Discontinued Operations

Cash Flows from Discontinued Operations

DOLLAR AMOUNTS IN MILLIONS
	2016(1)
Net cash provided by operating activities	$	196
Net cash provided by investing activities	$	2,356
(1) Discontinued operations in 2016 includes 335 days of the pulp business, 305 days of our printing papers joint venture operations, and 244 days of the liquid packaging board business, and the cash flows associated with the CF divestitures.

Cellulose Fibers

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Components of the net gain on divestitures

The following table presents the components of the net gain on the divestiture of Cellulose Fibers:

DOLLAR AMOUNTS IN MILLIONS
	2016
Proceeds, net of cash and cash equivalents disposed of	$	2,486
Less:
Net book value of assets and liabilities disposed of	(1,678		)
Transaction costs, net of reimbursement	(19		)
	(1,697		)
Pretax gain on Cellulose Fibers divestitures	789
Income taxes	(243		)
Net gain on Cellulose Fibers divestitures	$	546