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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operations:    
Net earnings (loss) $ (62) $ 841
Noncash charges (credits) to earnings (loss):    
Depreciation, depletion and amortization 382 361
Basis of real estate sold 105 80
Deferred income taxes, net (164) 111
Pension and other postretirement benefits (Note 7) 519 82
Share-based compensation expense 23 31
Change in:    
Receivables, less allowances (47) (55)
Receivables and payables for taxes (18) (109)
Inventories (2) (9)
Prepaid expenses and other current assets 5 (7)
Accounts payable and accrued liabilities (13) (133)
Pension and postretirement benefit contributions and payments (36) (355)
Other (18) (18)
Net cash from operations 674 820
Cash flows from investing activities:    
Capital expenditures for property and equipment (199) (238)
Capital expenditures for timberlands reforestation (42) (45)
Proceeds from note receivable held by variable interest entities (Note 6) 253 0
Other 20 19
Net cash from investing activities 32 (264)
Cash flows from financing activities:    
Cash dividends on common shares (760) (741)
Net proceeds from issuance of long-term debt (Note 9) 739 0
Payments on long-term debt (Note 9) (512) (62)
Proceeds from borrowings on line of credit (Note 9) 875 0
Payments on line of credit (Note 9) (860) 0
Payments on debt held by variable interest entities (Note 6) (302) 0
Proceeds from exercise of stock options 8 52
Repurchases of common shares (Note 4) (60) (273)
Other (15) (8)
Net cash from financing activities (887) (1,032)
Net change in cash and cash equivalents (181) (476)
Cash and cash equivalents at beginning of period 334 824
Cash and cash equivalents at end of period 153 348
Cash paid during the period for:    
Interest, net of amount capitalized of $4 and $8 310 285
Income taxes $ 46 $ 80