CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 560	$ 684
Receivables, net	382	306
Receivables for taxes	13	9
Inventories (Note 5)	675	607
Prepaid expenses and other current assets	141	142
Total current assets	1,771	1,748
Property and equipment, less accumulated depreciation of $4,044 and $3,980	2,333	2,329
Construction in progress	291	287
Timber and timberlands at cost, less depletion	11,506	11,551
Minerals and mineral rights, less depletion	187	189
Deferred tax assets	23	24
Other assets	409	408
Total assets	16,520	16,536
Current liabilities:
Current maturities of long-term debt (Note 8)	150	210
Accounts payable	288	255
Accrued liabilities (Note 7)	430	512
Total current liabilities	868	977
Long-term debt, net (Note 8)	5,017	4,866
Deferred tax liabilities	32	26
Deferred pension and other post-employment benefits (Note 6)	602	596
Other liabilities	356	350
Total liabilities	6,875	6,815
Commitments and contingencies (Note 10)
Equity:
Common shares: $1.25 par value; authorized 1,360 million shares; issued and outstanding: 725,671 thousand shares at March 31, 2025 and 725,845 thousand shares at December 31, 2024	908	908
Other capital	7,483	7,500
Retained earnings	1,643	1,715
Accumulated other comprehensive loss (Note 11)	(389)	(402)
Total equity	9,645	9,721
Total liabilities and equity	$ 16,520	$ 16,536