Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current Assets
Cash and temporary investments	$ 1,239	$ 511
Accounts and notes receivable, net	3,226	3,280
Contract assets	423	393
Inventories	2,002	2,208
Assets held for sale	112	0
Other current assets	213	247
Total Current Assets	7,215	6,639
Plants, Properties and Equipment, net	12,691	13,004
Forestlands	308	391
Investments	1,370	1,721
Financial Assets of Variable Interest Entities (Note 16)	7,093	7,088
Goodwill	3,304	3,347
Right of Use Assets	422	434
Deferred Charges and Other Assets	812	847
Total Assets	33,215	33,471
Current Liabilities
Notes payable and current maturities of long-term debt	664	168
Current nonrecourse financial liabilities of variable interest entities (Note 16)	4,220	4,220
Accounts payable	2,379	2,423
Accrued payroll and benefits	355	466
Liabilities held for sale	364	0
Other current liabilities	1,360	1,369
Total Current Liabilities	9,342	8,646
Long-Term Debt	9,561	9,597
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 16)	2,087	2,085
Deferred Income Taxes	2,662	2,633
Pension Benefit Obligation	1,521	1,578
Postretirement and Postemployment Benefit Obligation	252	270
Long-Term Lease Obligations	293	304
Other Liabilities	636	640
Equity
Common stock, $1 par value, 2020 – 448.9 shares and 2019 – 448.9 shares	449	449
Paid-in capital	6,252	6,297
Retained earnings	8,062	8,408
Accumulated other comprehensive loss	(5,255)	(4,739)
Shareholders' Equity before Treasury Stock, Total	9,508	10,415
Less: Common stock held in treasury, at cost, 2020 – 56.1 shares and 2019 – 56.8 shares	2,651	2,702
Total International Paper Shareholders’ Equity	6,857	7,713
Noncontrolling interests	4	5
Total Equity	6,861	7,718
Total Liabilities and Equity	$ 33,215	$ 33,471