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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Operating Activities          
Net earnings (loss) $ 407 $ 80 $ 1,137 $ 289  
Depreciation, amortization and cost of timber harvested     655 702  
Deferred income tax provision (benefit), net     196 304  
Restructuring and other charges 26 (16) 48 (16)  
Litigation settlement 0 354 0 354  
Net gain on transfer of North American Consumer Packaging business     (488) 0  
Net bargain purchase gain on acquisition of business     0 (6)  
Net (gains) losses on sales and impairments of businesses 0 9 0 9  
Equity method dividends received     122 127  
Equity (earnings) loss, net (70) (20) (165) (68)  
Periodic pension expense, net     115 158  
Other, net     57 73  
Changes in current assets and liabilities          
Accounts and notes receivable     (333) (230)  
Contract assets     (17) 0  
Inventories     (26) 21  
Accounts payable and accrued liabilities     142 (110)  
Interest payable     2 (1)  
Other     19 (328)  
Cash Provided By (Used For) Operations     1,464 1,278  
Investment Activities          
Invested in capital projects     (929) (664)  
Acquisitions, net of cash acquired     0 (44)  
Net settlement on transfer of North American Consumer Packaging business     (40) 0  
Proceeds from sale of fixed assets     2 17  
Other     3 (39)  
Cash Provided By (Used For) Investment Activities     (964) (730)  
Financing Activities          
Repurchases of common stock and payments of restricted stock tax withholding     (331) (46)  
Issuance of debt     411 132  
Reduction of debt     (73) (248)  
Change in book overdrafts     (24) (6)  
Dividends paid     (393) (382)  
Cash Provided By (Used For) Financing Activities     (410) (550)  
Cash Included in Assets Held for Sale     0 (4)  
Effect of Exchange Rate Changes on Cash     (35) 14  
Change in Cash and Temporary Investments     55 8  
Cash and Temporary Investments          
Beginning of period     1,018 1,033 $ 1,033
End of period $ 1,073 $ 1,041 $ 1,073 $ 1,041 $ 1,018