CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operations:
Net earnings	$ 250	$ 315
Noncash charges (credits) to earnings:
Depreciation, depletion and amortization	380	376
Basis of real estate sold	76	93
Deferred income taxes, net	(61)	(9)
Pension and other post-employment benefits (Note 6)	71	46
Share-based compensation expense (Note 12)	32	32
Gain on lumber mill sale (Note 16)	(29)	0
Other	3	6
Change in:
Receivables, net	(37)	(21)
Receivables and payables for taxes	(12)	(3)
Inventories	4	(31)
Prepaid expenses and other current assets	9	20
Accounts payable and accrued liabilities	41	(1)
Pension and post-employment benefit contributions and payments	(13)	(12)
Other	(38)	(21)
Net cash from operations	676	790
Cash flows from investing activities:
Capital expenditures for property and equipment	(288)	(228)
Capital expenditures for timberlands reforestation	(37)	(39)
Acquisitions of timberlands (Note 15)	(466)	(135)
Proceeds from lumber mill sale (Note 16)	61	0
Other	1	21
Net cash from investing activities	(729)	(381)
Cash flows from financing activities:
Cash dividends on common shares	(454)	(539)
Net proceeds from issuance of long-term debt (Note 8)	1,098	0
Payments on long-term debt (Note 8)	(712)	0
Repurchases of common shares (Note 4)	(150)	(126)
Other	(12)	(9)
Net cash from financing activities	(230)	(674)
Net change in cash, cash equivalents and restricted cash	(283)	(265)
Cash, cash equivalents and restricted cash at beginning of period	684	1,164
Cash, cash equivalents and restricted cash at end of period	401	899
Cash paid during the period for:
Interest, net of amount capitalized of $8 and $7	201	189
Income taxes, net of refunds	$ 61	$ 51