CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 455	$ 676
Receivables, less discounts and allowances of $2 and $1	472	390
Receivables for taxes	10	84
Inventories (Note 6)	386	358
Prepaid expenses and other current assets	142	114
Total current assets	1,465	1,622
Property and equipment, less accumulated depreciation of $3,346 and $3,306	1,544	1,562
Construction in progress	230	213
Timber and timberlands at cost, less depletion charged to disposals	14,218	14,299
Minerals and mineral rights, less depletion	317	319
Investments in and advances to joint ventures (Note 7)	56	56
Goodwill	40	40
Deferred tax assets	287	293
Other assets	229	224
Restricted financial investments held by variable interest entities	615	615
Total assets	19,001	19,243
Liabilities
Current maturities of long-term debt (Note 11)	343	281
Accounts payable	227	233
Accrued liabilities (Note 9)	452	692
Total current liabilities	1,022	1,206
Long-term debt (Note 11)	6,263	6,329
Long-term debt (nonrecourse to the company) held by variable interest entities	511	511
Deferred pension and other postretirement benefits (Note 8)	1,287	1,322
Deposit from contribution of timberlands to related party (Note 7)	422	426
Other liabilities	281	269
Total liabilities	9,786	10,063
Commitments and contingencies (Note 12)
Equity:
Common shares: $1.25 par value; authorized 1,360,000,000 shares; issued and outstanding: 751,410,510 and 748,528,131 shares	939	936
Other capital	8,340	8,282
Retained earnings	1,364	1,421
Cumulative other comprehensive loss (Note 13)	(1,428)	(1,459)
Total equity	9,215	9,180
Total liabilities and equity	$ 19,001	$ 19,243