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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
OPERATING ACTIVITIES    
Net Income $ 114,865 $ 95,511
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 62,863 76,522
Non-cash cost of real estate sold 1,749 3,434
Stock-based incentive compensation expense 8,021 7,960
Gain on sale of a portion of interest in the New Zealand joint venture 0 (11,545)
Amortization of convertible debt discount 4,303 4,058
Deferred income taxes (945) 385
Excess tax benefits on stock-based compensation (4,900) (3,951)
Other 8,342 1,747
Changes in operating assets and liabilities:    
Receivables (25,222) 7,952
Inventories 1,067 (7,359)
Accounts payable 10,114 841
Income tax receivable 19,979 192,458
Other current assets (13,545) (11,796)
Accrued liabilities 14,287 4,459
Other assets 1,239 (91)
Other non-current liabilities (2,434) (466)
Expenditures for dispositions and discontinued operations (4,916) (4,319)
CASH PROVIDED BY OPERATING ACTIVITIES 194,867 355,800
INVESTING ACTIVITIES    
Capital expenditures (65,211) (71,348)
Purchase of timberlands (12,976) 0
Change in restricted cash 8,323 (10,043)
Other (950) 4,875
CASH USED FOR INVESTING ACTIVITIES (70,814) (76,516)
FINANCING ACTIVITIES    
Issuance of debt 70,000 127,000
Repayment of debt (145,000) (66,650)
Dividends paid (87,871) (79,990)
Proceeds from the issuance of common shares 7,894 12,232
Excess tax benefits on stock-based compensation 4,900 3,951
Debt issuance costs (1,663) (535)
Repurchase of common shares (7,828) (5,997)
CASH USED FOR FINANCING ACTIVITIES (159,568) (9,989)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 232 (75)
CASH AND CASH EQUIVALENTS    
Change in cash and cash equivalents (35,283) 269,220
Balance, beginning of year 349,463 74,964
Balance, end of period 314,180 344,184
Cash paid (received) during the period:    
Interest 19,479 19,700
Income taxes (448) 144
Non-cash investing activity:    
Capital assets purchased on account $ 11,129 $ 13,595