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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net earnings (loss) $ 1,054 $ 1,699
Depreciation, amortization and cost of timber harvested 963 990
Deferred income tax provision (benefit), net 68 163
Restructuring and other charges, net 21 48
Net gain on transfer of North American Consumer Packaging business 0 (488)
Net (gains) losses on sales and impairments of businesses 153 122
Litigation fines and settlements - antitrust 32 0
Equity method dividends received 260 130
Equity (earnings) losses, net (221) (257)
Periodic pension expense, net 70 172
Other, net 106 75
Changes in current assets and liabilities    
Accounts and notes receivable 168 (441)
Contract assets 6 (20)
Inventories (9) (120)
Accounts payable and accrued liabilities (11) 301
Interest payable (31) (33)
Other 53 64
Cash Provided By (Used For) Operations 2,682 2,405
Investment Activities    
Invested in capital projects (913) (1,286)
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 15 12
Other (14) 4
Cash Provided By (Used For) Investment Activities (994) (1,310)
Financing Activities    
Repurchases of common stock and payments of restricted stock tax withholding (535) (532)
Issuance of debt 381 349
Reduction of debt (772) (242)
Change in book overdrafts (29) (33)
Dividends paid (595) (588)
Other 3 0
Cash Provided By (Used For) Financing Activities (1,547) (1,046)
Cash Included in Assets Held for Sale (19) 0
Effect of Exchange Rate Changes on Cash (14) (41)
Change in Cash and Temporary Investments 108 8
Cash and Temporary Investments    
Beginning of period 589 1,018
End of period $ 697 $ 1,026