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Consolidated Statement Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES      
Net earnings (loss) $ 1,504 $ 1,754 $ 482
Depreciation, amortization, and cost of timber harvested 1,040 1,210 1,287
Deferred income tax provision (benefit), net (773) (291) 9
Other Restructuring Costs 89 509 195
Periodic pension (income) expense, net (116) (112) 32
Net (gains) losses on mark to market investments (65) 32 0
Net (gains) losses on sales and impairments of businesses 76 (358) 465
Net (gains) losses on sales and impairments of equity method investments 543 (205) (35)
Net (gains) losses on sales of fixed assets 0 (86) 0
Equity method dividends received 204 159 162
Income (Loss) from Equity Method Investments Including Discontinued Operations (291) (313) (77)
Other, net 108 157 219
Changes in current assets and liabilities      
Accounts and notes receivable (59) (596) 59
Contract assets (103) (49) 35
Inventories (162) (263) 35
Accounts payable and accrued liabilities 110 519 141
Interest payable 41 (32) (55)
Other 28 (5) 109
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES 2,174 2,030 3,063
INVESTMENT ACTIVITIES      
Invested in capital projects, net of insurance recoveries (931) (549) (751)
Acquisitions, net of cash acquired 0 (80) (65)
Proceeds from sales of equity method investments 0 908 500
Proceeds from sales of businesses, net of cash divested 0 827 40
Proceeds from exchange of equity securities 311 0 0
Proceeds from settlement of Variable Interest Entities 0 4,850 0
Proceeds from sale of fixed assets 13 101 8
Other (1) (3) (1)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES (608) 6,054 (269)
FINANCING ACTIVITIES      
Repurchases of common stock and payments of restricted stock tax withholding (1,284) (839) (42)
Issuance of debt 1,011 1,512 583
Reduction of debt (1,017) (2,509) (2,278)
Change in book overdrafts 1 65 35
Dividends paid (673) (780) (806)
Reduction of Variable Interest Entity loans 0 (4,220) 0
Distribution to Sylvamo Corporation 0 (130) 0
Net debt tender premiums paid (89) (456) (188)
Other (3) (18) (4)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES (2,054) (7,375) (2,700)
Cash Included in Assets Held for Sale 0 0 (2)
Effect of Exchange Rate Changes on Cash (3) (9) (8)
Change in Cash and Temporary Investments (491) 700 84
Cash and Temporary Investments      
Beginning of the period 1,295 595 511
End of the period $ 804 $ 1,295 $ 595