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CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Statement of Cash Flows [Abstract]    
NET INCOME FROM CONTINUING OPERATIONS $ 97 $ 55
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and cost of timber harvested 35 31
Deferred income tax provision (benefit), net 5 7
Stock-based compensation 7 4
Changes in operating assets and liabilities and other    
Accounts and notes receivable 82 16
Inventories (81) (26)
Accounts payable and accrued liabilities (100) (62)
Other 18 23
CASH PROVIDED BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS 63 48
CASH PROVIDED BY OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET 0 44
CASH PROVIDED BY OPERATING ACTIVITIES 63 92
INVESTMENT ACTIVITIES    
Invested in capital projects (61) (16)
Acquisition of business, net of cash acquired (167) 0
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM CONTINUING OPERATIONS (228) (16)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES FROM DISCONTINUED OPERATIONS, NET 0 (3)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES (228) (19)
FINANCING ACTIVITIES    
Dividends paid (10) 0
Issuance of debt 427 0
Reduction of debt (407) (35)
Repurchases of common stock (10) 0
Other (8) (4)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES FROM CONTINUING OPERATIONS (8) (39)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES FROM DISCONTINUED OPERATIONS, NET 0 0
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES (8) (39)
Effect of Exchange Rate Changes on Cash 4 15
Change in Cash Included in Assets Held for Sale 0 46
Change in Cash and Temporary Investments (169) 3
Beginning of the period 360 159
End of the period $ 191 $ 162