v3.25.2
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operations:    
Net earnings $ 170 $ 287
Noncash charges (credits) to earnings:    
Depreciation, depletion and amortization 250 251
Basis of real estate sold 57 70
Pension and other post-employment benefits (Note 6) 47 31
Share-based compensation expense (Note 12) 23 22
Other 4 4
Change in:    
Receivables, net (66) (57)
Receivables and payables for taxes (16) 13
Inventories (13) (53)
Prepaid expenses and other current assets 17 33
Accounts payable and accrued liabilities 39 (14)
Pension and post-employment benefit contributions and payments (6) (9)
Other (40) (22)
Net cash from operations 466 556
Cash flows from investing activities:    
Capital expenditures for property and equipment (170) (139)
Capital expenditures for timberlands reforestation (30) (31)
Acquisitions of timberlands (Note 15) (5) (53)
Other (3) 3
Net cash from investing activities (208) (220)
Cash flows from financing activities:    
Cash dividends on common shares (304) (394)
Net proceeds from issuance of long-term debt (Note 8) 299 0
Payments on long-term debt (Note 8) (210) 0
Repurchases of common shares (Note 4) (125) (99)
Other (10) (10)
Net cash from financing activities (350) (503)
Net change in cash, cash equivalents and restricted cash (92) (167)
Cash, cash equivalents and restricted cash at beginning of period 684 1,164
Cash, cash equivalents and restricted cash at end of period 592 997
Cash paid during the period for:    
Interest, net of amount capitalized of $6 and $5 132 126
Income taxes, net of refunds $ 40 $ 38