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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities    
Net earnings (loss) $ 426 $ 730
Depreciation, amortization and cost of timber harvested 315 325
Deferred income tax provision (benefit), net 22 157
Restructuring and other charges, net 0 22
Net gain on transfer of North American Consumer Packaging business 0 (516)
Net (gains) losses on sales and impairments of businesses (7) 0
Equity method dividends received 6 116
Equity (earnings) losses, net (114) (95)
Periodic pension expense, net 26 42
Other, net 46 14
Changes in current assets and liabilities    
Accounts and notes receivable 26 (122)
Contract assets (15) (22)
Inventories (22) 21
Accounts payable and accrued liabilities 34 11
Interest payable (25) (34)
Other 15 14
Cash Provided By (Used For) Operations 733 663
Investment Activities    
Invested in capital projects (293) (489)
Acquisitions, net of cash acquired (17) 0
Net settlement on transfer of North American Consumer Packaging business 0 1
Proceeds from divestitures, net of cash divested 17 0
Proceeds from sale of fixed assets 3 1
Other (4) (2)
Cash Provided By (Used For) Investment Activities (294) (489)
Financing Activities    
Repurchases of common stock and payments of restricted stock tax withholding (229) (31)
Issuance of debt 208 223
Reduction of debt (142) (34)
Change in book overdrafts (25) (17)
Dividends paid (201) (197)
Cash Provided By (Used For) Financing Activities (389) (56)
Effect of Exchange Rate Changes on Cash 2 5
Change in Cash and Temporary Investments 52 123
Cash and Temporary Investments    
Beginning of period 589 1,018
End of period $ 641 $ 1,141