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Consolidated Statement of Cash Flows (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating Activities    
Net earnings $ 567 $ 1,051
Discontinued operations, net of taxes (35) (49)
Earnings (Loss) From Continuing Operations 532 1,002
Depreciation, amortization and cost of timber harvested 1,111 1,011
Deferred income tax provision, net 192 35
Restructuring and other charges 88 84
Pension plan contribution (44) 0
Net (gains) losses on sales and impairments of businesses 89 219
Equity (earnings) losses, net (52) (117)
Periodic pension expense, net 256 146
Other, net (66) 133
Changes in current assets and liabilities    
Accounts and notes receivable 226 (502)
Inventories 23 (85)
Accounts payable and accrued liabilities (125) 13
Interest payable 65 43
Other (21) 56
Cash Provided By (Used For) Operations - Continuing Operations 2,274 2,038
Cash Provided By (Used For) Operations - Discontinued Operations (20) 0
Cash Provided By (Used For) Operations 2,254 2,038
Investment Activities    
Invested in capital projects (1,001) (725)
Acquisitions, net of cash acquired (3,734) (3)
Proceeds from divestitures 474 50
Equity investment in Ilim (45) 0
Escrow arrangement for acquisition 0 (139)
Other (115) (76)
Cash Provided By (Used For) Investment Activities - Continuing Operations (4,421) (893)
Cash Provided By (Used For) Investment Activities - Discontinued Operations (61) 0
Cash Provided By (Used For) Investment Activities (4,482) (893)
Financing Activities    
Repurchases of common stock and payments of restricted stock tax withholding (35) (30)
Issuance of common stock 60 0
Issuance of debt 2,052 172
Reduction of debt (2,123) (284)
Change in book overdrafts (52) (27)
Dividends paid (344) (312)
Other (38) (9)
Cash Provided By (Used For) Financing Activities (480) (490)
Effect of Exchange Rate Changes on Cash (11) (6)
Change in Cash and Temporary Investments (2,719) 649
Cash and Temporary Investments    
Beginning of period 3,994 2,073
End of period $ 1,275 $ 2,722