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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net earnings (loss) $ 1,647 $ 329
Depreciation, amortization and cost of timber harvested 933 955
Deferred income tax provision (benefit), net (151) (5)
Restructuring and other charges, net 243 131
Net (gains) losses on sales of equity method investments (205) (35)
Net (gains) losses on sales and impairments of businesses (367) 347
Net (gains) losses on sales of fixed assets (86) 0
Equity method dividends received 149 158
Equity (earnings) losses, net (247) (13)
Periodic pension (income) expense, net (84) 24
Other, net 129 212
Changes in current assets and liabilities    
Accounts and notes receivable (510) 96
Contract assets (74) 2
Inventories (133) 74
Accounts payable and accrued liabilities 716 0
Interest payable 9 (26)
Other (46) 25
Cash Provided By (Used For) Operations 1,923 2,274
Investment Activities    
Invested in capital projects, net of insurance recoveries (348) (657)
Acquisitions, net of cash acquired (80) (64)
Proceeds from sales of equity method investments 843 500
Proceeds from sales of businesses, net of cash divested 827 0
Proceeds from settlement of Variable Interest Entity installment notes 4,850 0
Proceeds from sale of fixed assets 95 3
Other (3) 18
Cash Provided By (Used For) Investment Activities 6,184 (200)
Financing Activities    
Repurchases of common stock and payments of restricted stock tax withholding (425) (42)
Issuance of debt 1,511 692
Reduction of debt (1,132) (1,795)
Change in book overdrafts 29 16
Dividends paid (602) (605)
Reduction of Variable Interest Entity loans (4,220) 0
Net debt tender premiums paid (221) (124)
Other (14) (1)
Cash Provided By (Used For) Financing Activities (5,074) (1,859)
Cash Included in Assets Held for Sale 0 (11)
Effect of Exchange Rate Changes on Cash and Temporary Investments and Restricted Cash (7) (37)
Change in Cash and Temporary Investments and Restricted Cash 3,026 167
Cash and Temporary Investments and Restricted Cash    
Beginning of period 595 511
End of period $ 3,621 $ 678