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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net earnings (loss) $ 712 $ 1,137
Depreciation, amortization and cost of timber harvested 636 655
Deferred income tax provision (benefit), net 50 196
Restructuring and other charges, net 0 48
Net gain on transfer of North American Consumer Packaging business 0 (488)
Net (gains) losses on sales and impairments of businesses 145 0
Equity method dividends received 251 122
Equity (earnings) losses, net (194) (165)
Periodic pension expense, net 47 115
Other, net 55 57
Changes in current assets and liabilities    
Accounts and notes receivable 48 (333)
Contract assets (4) (17)
Inventories 48 (26)
Accounts payable and accrued liabilities 2 142
Interest payable 1 2
Other 3 19
Cash Provided By (Used For) Operations 1,800 1,464
Investment Activities    
Invested in capital projects (628) (929)
Acquisitions, net of cash acquired (99) 0
Net settlement on transfer of North American Consumer Packaging business 0 (40)
Proceeds from divestitures, net of cash divested 17 0
Proceeds from sale of fixed assets 4 2
Other (9) 3
Cash Provided By (Used For) Investment Activities (715) (964)
Financing Activities    
Repurchases of common stock and payments of restricted stock tax withholding (460) (331)
Issuance of debt 444 411
Reduction of debt (452) (73)
Change in book overdrafts (14) (24)
Dividends paid (398) (393)
Debt tender premiums paid 4 0
Cash Provided By (Used For) Financing Activities (876) (410)
Cash Included in Assets Held for Sale (21) 0
Effect of Exchange Rate Changes on Cash 10 (35)
Change in Cash and Temporary Investments 198 55
Cash and Temporary Investments    
Beginning of period 589 1,018
End of period $ 787 $ 1,073