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Recent Accounting Developments Schedule or Prospective Adoption of New Accounting Standard Tables (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Item Effected [Line Items]                      
NET SALES $ 5,951 $ 5,901 $ 5,833 $ 5,621 $ 5,711 $ 5,517 $ 5,383 $ 5,132 $ 23,306 [1] $ 21,743 [1] $ 19,495 [1]
Cost of products sold                 15,555 14,802 13,419
Distribution expenses                 1,567 1,434 1,237
Income tax provision (benefit), net                 445 (1,085) 193
Earnings (loss) from continuing operations                 1,672 2,110 800
Net earnings (loss)                 $ 2,017 $ 2,144 $ 902
Basic $ 0.79 [2],[3],[4] $ 1.38 [2],[3],[4] $ 0.98 [2],[3],[4] $ 1.76 [2],[3],[4] $ 3.54 [5],[6],[7] $ 0.96 [5],[6],[7] $ 0.19 [5],[6],[7] $ 0.51 [5],[6],[7] $ 4.91 [2],[3],[4] $ 5.19 [5],[6],[7] $ 2.20
Diluted $ 0.78 [2],[3],[4] $ 1.37 [2],[3],[4] $ 0.97 [2],[3],[4] $ 1.74 [2],[3],[4] $ 3.50 [5],[6],[7] $ 0.95 [5],[6],[7] $ 0.19 [5],[6],[7] $ 0.50 [5],[6],[7] $ 4.85 [2],[3],[4] $ 5.13 [5],[6],[7] $ 2.18
Contract assets $ 395       $ 0       $ 395 $ 0  
Inventories 2,241       2,313       2,241 2,313  
Other current assets 250       282       250 282  
Other accrued liabilities 1,107       1,043       1,107 1,043  
Deferred income taxes 2,600       2,291       2,600 2,291  
Retained earnings 7,465       $ 6,180       7,465 6,180  
Deferred income tax provision (benefit), net                 133 (1,113) $ 136
Increase (Decrease) in Contract with Customer, Asset                 (32) 0 0
Inventories                 (236) 87 (11)
Accounts payable and accrued liabilities                 151 114 98
Other                 28 $ 60 $ (15)
Balances Without Adoption of ASC 606                      
Item Effected [Line Items]                      
NET SALES                 23,274    
Cost of products sold                 15,535    
Distribution expenses                 1,563    
Income tax provision (benefit), net                 443    
Earnings (loss) from continuing operations                 1,666    
Net earnings (loss)                 $ 2,011    
Basic                 $ 4.90    
Diluted                 $ 4.84    
Contract assets 0               $ 0    
Inventories 2,511               2,511    
Other current assets 278               278    
Other accrued liabilities 1,088               1,088    
Deferred income taxes 2,601               2,601    
Retained earnings 7,386               7,386    
Deferred income tax provision (benefit), net                 159    
Increase (Decrease) in Contract with Customer, Asset                 0    
Inventories                 (256)    
Accounts payable and accrued liabilities                 147    
Other                 0    
Impact of Adoption Increase/(Decrease)                      
Item Effected [Line Items]                      
NET SALES                 32    
Cost of products sold                 20    
Distribution expenses                 4    
Income tax provision (benefit), net                 2    
Earnings (loss) from continuing operations                 6    
Net earnings (loss)                 $ 6    
Basic                 $ 0.01    
Diluted                 $ 0.01    
Contract assets 395               $ 395    
Inventories (270)               (270)    
Other current assets (28)               (28)    
Other accrued liabilities 19               19    
Deferred income taxes (1)               (1)    
Retained earnings $ 79               79    
Deferred income tax provision (benefit), net                 (26)    
Increase (Decrease) in Contract with Customer, Asset                 (32)    
Inventories                 20    
Accounts payable and accrued liabilities                 4    
Other                 $ 28    
[1] Net sales are attributed to countries based on the location of the seller.
[2] Includes the following pre-tax charges (gains): 2018In millions Q1 Q2 Q3 Q4North American Consumer Packaging transaction costs $23 $2 $— $—North American Consumer Packaging gain on transfer (516) 28 — —Total $(493) $30 $— $—
[3] Includes the following pre-tax charges (gains): 2018In millions Q1 Q2 Q3 Q4Smurfit-Kappa acquisition proposal costs $— $12 $— $—Legal settlement 9 — — —Litigation settlement recovery — — — (5)Environmental remediation reserve adjustment — — 9 —EMEA Packaging optimization 22 26 — (1)Abandoned property removal 9 9 6 8Riverdale mill conversion costs — — 5 4Brazil Packaging impairment — — 122 —Debt extinguishment costs — — — 10Gain on sale of investment in Liaison Technologies — — — (31)Non-operating pension expense 4 36 25 429Total $44 $83 $167 $414
[4] Includes the following tax expenses (benefits): 2018In millions Q1 Q2 Q3 Q4State income tax legislative changes $— $9 $— $—Tax benefit of Tax Cuts and Jobs Act — — (36) —International investment restructuring — — — 19Foreign tax audits — — — 25Tax impact of other special items (9) (13) (46) 3Tax impact of non-operating pension expense (1) (9) (6) (107)Total $(10) $(13) $(88) $(60)
[5] Includes the following pre-tax charges (gains): 2017In millions Q1 Q2 Q3 Q4Gain on sale of investment in ArborGen $— $(14) $— $—Costs associated with the pulp business acquired in 2016 4 5 6 18Amortization of Weyerhaeuser inventory fair value step-up 14 — — —Holmen bargain purchase gain (6) — — —Abandoned property removal 2 5 7 6Kleen Products settlement — 354 — —Asia Foodservice sale — 9 — —Brazil Packaging wood supply accelerated amortization — — 10 —Debt extinguishment costs — — — 83Interest income on income tax refund claims — (4) — (1)Other items — (2) — —Non-operating pension expense 31 34 33 386Total $45 $387 $56 $492
[6] Includes the following tax expenses (benefits): 2017In millions Q1 Q2 Q3 Q4International legal entity restructuring $15 $— $19 $—Income tax refund claims — (85) — (28)Cash pension contribution — 38 — —International tax law change — — — 9Tax benefit of Tax Cuts and Jobs Act — — — (1,222)Tax impact of other special items (8) (137) (8) (41)Tax impact of non-operating pension expense (12) (13) (13) (148)Total $(5) $(197) $(2) $(1,430)
[7] ncludes the operating earnings of the North American Consumer Packaging business for the full year. Also includes the following pre-tax charges (gains): 2017In millions Q1 Q2 Q3 Q4North American Consumer Packaging transaction costs $— $— $— $17Non-operating pension expense — — — 45Total $— $— $— $62