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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Millions
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 26, 2015
USD ($)
Dec. 27, 2014
USD ($)
Cash flows from operating activities of continuing operations:      
Net income (loss) $ 529 $ 8 $ (352)
Loss from discontinued operations, net of tax (150) (84) (59)
Net income from continuing operations 679 92 (293)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 181 253 277
Charges for losses on inventories and receivables 78 53 52
Asset impairments 15 13 56
Compensation expense for share-based payments 40 41 35
Loss on extinguishment of debt 15    
Deferred income taxes and deferred tax asset valuation allowances (231) 1 (1)
Loss (gain) on disposition of assets (9) (36) 7
Other 3 24 (2)
Changes in assets and liabilities:      
Decrease (increase) in receivables 55 55 (20)
Decrease (increase) in inventories 56 (99) (8)
Net decrease (increase) in prepaid expenses and other assets (51) 20 23
Net decrease in trade accounts payable, accrued expenses and other current and other long-term liabilities (339) (279) (33)
Total adjustments (187) 46 386
Net cash provided by operating activities of continuing operations 492 138 93
Cash flows from investing activities of continuing operations:      
Capital expenditures (111) (144) (96)
Proceeds from sale of joint ventures, net     43
Proceeds from sale of available for sale securities     43
Acquisition, net of cash acquired   (9)  
Proceeds from disposition of assets and other 27 95 5
Net cash used in investing activities of continuing operations (84) (58) (5)
Cash flows from financing activities of continuing operations:      
Net proceeds from employee share-based transactions   7 39
Debt retirement (250)    
Debt related fees (6) (1)  
Cash used in extinguishment of debt (12)    
Cash dividends on common stock (26)    
Proceeds from issuance of borrowings     4
Net payments on long and short-term borrowings (49) (32) (26)
Repurchase of common stock for treasury (132)    
Net cash (used in) provided by financing activities of continuing operations (475) (26) 17
Cash flows from discontinued operations:      
Operating activities of discontinued operations (122) (12) 62
Investing activities of discontinued operations (70) (16) (22)
Financing activities of discontinued operations 5 1 (2)
Net cash used in discontinued operations (187) (27) 38
Effect of exchange rate changes on cash and cash equivalents (8) (29) (27)
Net increase (decrease) in cash and cash equivalents (262) (2) 116
Cash and cash equivalents at beginning of period 1,069 1,071 955
Cash and cash equivalents at end of period 807 1,069 1,071
Cash and cash equivalents of discontinued operations (44) (209) (247)
Cash and cash equivalents at the end of period - continued operations 763 860 824
Supplemental information on operating, investing, and financing activities      
Cash interest paid, net of amounts capitalized and Timber notes/Non-recourse debt 63 67 68
Cash taxes paid (refunded) 48   (20)
Non-cash asset additions under capital leases $ 9 $ 25 $ 19