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Consolidated Statement Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES      
Net earnings (loss) $ 288 $ 1,504 $ 1,754
Depreciation, amortization, and cost of timber harvested 1,432 1,040 1,210
Deferred income tax provision (benefit), net (156) (773) (291)
Restructuring and other charges, net 99 89 509
Periodic pension (income) expense, net 94 (116) (112)
Net (gains) losses on mark to market investments 0 (65) 32
Net (gains) losses on sales and impairments of businesses 0 76 (358)
Net (gains) losses on sales and impairments of equity method investments 153 543 (205)
Net (gains) losses on sales of fixed assets 0 0 (86)
Equity method dividends received 13 204 159
Equity (earnings) losses, net (108) (291) (313)
Other, net 20 108 157
Changes in current assets and liabilities      
Accounts and notes receivable 255 (59) (596)
Contract assets 48 (103) (49)
Inventories 73 (162) (263)
Accounts payable and accrued liabilities (402) 110 519
Interest payable (19) 41 (32)
Other 43 28 (5)
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES 1,833 2,174 2,030
INVESTMENT ACTIVITIES      
Invested in capital projects, net of insurance recoveries (1,141) (931) (549)
Acquisitions, net of cash acquired 0 0 (80)
Proceeds from sales of equity method investments, net of transaction costs 472 0 908
Proceeds from sales of businesses, net of cash divested 0 0 827
Proceeds from exchange of equity securities 0 311 0
Proceeds from settlement of Variable Interest Entities 0 0 4,850
Proceeds from sale of fixed assets 4 13 101
Other (3) (1) (3)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES (668) (608) 6,054
FINANCING ACTIVITIES      
Repurchases of common stock and payments of restricted stock tax withholding (218) (1,284) (839)
Issuance of debt 783 1,011 1,512
Reduction of debt (780) (1,017) (2,509)
Change in book overdrafts (8) 1 65
Dividends paid (642) (673) (780)
Reduction of Variable Interest Entity loans 0 0 (4,220)
Distribution to Sylvamo Corporation 0 0 (130)
Net debt tender premiums paid 0 (89) (456)
Other (1) (3) (18)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES (866) (2,054) (7,375)
Effect of Exchange Rate Changes on Cash 10 (3) (9)
Change in Cash and Temporary Investments 309 (491) 700
Cash and Temporary Investments      
Beginning of the period 804 1,295 595
End of the period $ 1,113 $ 804 $ 1,295