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Consolidated Statement of Cash Flows (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating Activities    
Net earnings $ 329 $ 586
Discontinued operations, net of taxes and noncontrolling interests (21) (49)
Earnings (loss) from continuing operations 308 537
Depreciation, amortization and cost of timber harvested 728 676
Deferred income tax provision, net 110 2
Restructuring and other charges 55 35
Pension plan contribution (44) 0
Net (gains) losses on sales and impairments of businesses 71 137
Equity (earnings) losses, net (18) (117)
Periodic pension expense, net 170 97
Other, net (16) 82
Changes in current assets and liabilities    
Accounts and notes receivable 276 (438)
Inventories 33 (4)
Accounts payable and accrued liabilities (243) 122
Interest payable 20 (2)
Other (39) 35
Cash Provided By (Used For) Operations - Continuing Operations 1,411 1,162
Cash Provided By (Used For) Operations - Discontinued Operations (36) 0
Cash Provided By (Used For) Operations 1,375 1,162
Investment Activities    
Invested in capital projects (705) (410)
Acquisitions, net of cash acquired (3,734) 0
Proceeds from divestitures 5 50
Escrow arrangement for acquisition 0 (105)
Other (93) (87)
Cash Provided By (Used For) Investment Activities - Continuing Operations (4,527) (552)
Cash Provided By (Used For) Investment Activities - Discontinued Operations (53) 0
Cash Provided By (Used For) Investment Activities (4,580) (552)
Financing Activities    
Repurchases of common stock and payments of restricted stock tax withholding (35) (30)
Issuance of common stock 21 0
Issuance of debt 1,919 227
Reduction of debt (1,135) (311)
Change in book overdrafts (46) (15)
Dividends paid (229) (197)
Other (37) (35)
Cash Provided By (Used For) Financing Activities 458 (361)
Effect of Exchange Rate Changes on Cash (19) 77
Change in Cash and Temporary Investments (2,766) 326
Cash and Temporary Investments    
Beginning of period 3,994 2,073
End of period $ 1,228 $ 2,399