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Consolidated Statement Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES      
Net earnings (loss) $ 1,754 $ 482 $ 1,220
Depreciation, amortization, and cost of timber harvested 1,210 1,287 1,306
Deferred income tax provision (benefit), net (291) 9 212
Other Restructuring Costs 509 195 57
Periodic pension (income) expense, net (112) 32 93
Net (gains) losses on mark to market investments 32 0 0
Net (gains) losses on sales and impairments of businesses (358) 465 205
Net (gains) losses on sales of equity method investments (205) (35) 0
Net (gains) losses on sales of fixed assets (86) 0 0
Litigation Settlement, Expense 0 0 32
Equity method dividends received 159 162 273
Equity (earnings) losses, net (313) (77) (250)
Other, net 157 219 120
Changes in current assets and liabilities      
Accounts and notes receivable (596) 59 246
Contract assets (49) 35 2
Inventories (263) 35 (1)
Accounts payable and accrued liabilities 519 141 139
Interest payable (32) (55) (19)
Other (5) 109 (25)
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES 2,030 3,063 3,610
INVESTMENT ACTIVITIES      
Invested in capital projects, net of insurance recoveries (549) (751) (1,276)
Acquisitions, net of cash acquired (80) (65) (103)
Proceeds from sales of equity method investments 908 500 0
Proceeds from sales of businesses, net of cash divested 827 40 81
Proceeds from settlement of Variable Interest Entities 4,850 0 0
Proceeds from sale of fixed assets 101 8 18
Other (3) (1) (20)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES 6,054 (269) (1,300)
FINANCING ACTIVITIES      
Repurchases of common stock and payments of restricted stock tax withholding (839) (42) (535)
Issuance of debt 1,512 583 534
Reduction of debt (2,509) (2,278) (1,507)
Change in book overdrafts 65 35 (66)
Dividends paid (780) (806) (796)
Reduction of Variable Interest Entity loans (4,220) 0 0
Distribution to Sylvamo Corporation (130) 0 0
Net debt tender premiums paid (456) (188) (18)
Other (18) (4) (1)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES (7,375) (2,700) (2,389)
Cash Included in Assets Held for Sale 0 (2) 0
Effect of Exchange Rate Changes on Cash (9) (8) 1
Change in Cash and Temporary Investments 700 84 (78)
Cash and Temporary Investments      
Beginning of the period 595 511 589
End of the period $ 1,295 $ 595 $ 511