Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current Assets
Cash and temporary investments	$ 1,073	$ 1,018
Accounts and notes receivable, net	3,526	3,287
Contract assets	381	0
Inventories	2,050	2,313
Assets held for sale	0	1,377
Other current assets	242	282
Total Current Assets	7,272	8,277
Plants, Properties and Equipment, net	13,193	13,265
Forestlands	396	448
Investments	1,538	390
Financial Assets of Special Purpose Entities (Note 15)	7,061	7,051
Goodwill	3,378	3,411
Deferred Charges and Other Assets	958	1,061
Total Assets	33,796	33,903
Current Liabilities
Notes payable and current maturities of long-term debt	684	311
Accounts payable	2,478	2,458
Accrued payroll and benefits	424	485
Liabilities held for sale	0	805
Other accrued liabilities	1,032	1,043
Total Current Liabilities	4,618	5,102
Long-Term Debt	10,805	10,846
Nonrecourse Financial Liabilities of Special Purpose Entities (Note 15)	6,295	6,291
Deferred Income Taxes	2,502	2,291
Pension Benefit Obligation	1,840	1,939
Postretirement and Postemployment Benefit Obligation	315	326
Other Liabilities	557	567
Equity
Common stock, $1 par value, 2018 – 448.9 shares and 2017 – 448.9 shares	449	449
Paid-in capital	6,219	6,206
Retained earnings	6,988	6,180
Accumulated other comprehensive loss	(4,881)	(4,633)
Shareholders' Equity before Treasury Stock, Total	8,775	8,202
Less: Common stock held in treasury, at cost, 2018 – 40.0 shares and 2017 – 36.0 shares	1,931	1,680
Total International Paper Shareholders’ Equity	6,844	6,522
Noncontrolling interests	20	19
Total Equity	6,864	6,541
Total Liabilities and Equity	$ 33,796	$ 33,903

The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively.

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- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).