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CONDENSED COMBINED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net income $ 269 $ 105
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:    
Depreciation, amortization and cost of timber harvested 108 117
Deferred income tax provision (benefit), net (8) (44)
Stock-based compensation 10 11
Changes in operating assets and liabilities    
Accounts and notes receivable (28) 98
Related party receivable (13) (13)
Inventories (9) 41
Related party payable 3 12
Accounts payable and accrued liabilities 99 (55)
Other (52) (47)
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES 379 225
INVESTMENT ACTIVITIES    
Invested in capital projects (54) (59)
Cash pool arrangements with Parent 202 7
Other (8) 1
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES 140 (51)
FINANCING ACTIVITIES    
Net transfers (to) from Parent (359) (201)
Special payment to Parent (1,520) 0
Issuance of debt 1,499 0
Reduction of debt (6) (15)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES (386) (216)
Effect of Exchange Rate Changes on Cash (96) 48
Change in Cash and Temporary Investments 37 6
Beginning of the period 95 135
End of the period $ 132 $ 141