Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current Assets
Cash and temporary investments	$ 847	$ 511
Accounts and notes receivable, net	3,060	3,280
Contract assets	401	393
Inventories	2,010	2,208
Assets held for sale	112	0
Other current assets	169	247
Current assets	6,599	6,639
Plants, Properties and Equipment, net	12,586	13,004
Forestlands	293	391
Investments	1,407	1,721
Financial Assets of Variable Interest Entities (Note 16)	7,098	7,088
Goodwill	3,304	3,347
Right of Use Assets	425	434
Deferred Charges and Other Assets	807	847
Total Assets	32,519	33,471
Current Liabilities
Notes payable and current maturities of long-term debt	33	168
Current nonrecourse financial liabilities of variable interest entities (Note 16)	4,220	4,220
Accounts payable	2,206	2,423
Accrued payroll and benefits	406	466
Liabilities held for sale	368	0
Other current liabilities	1,097	1,369
Total Current Liabilities	8,330	8,646
Long-Term Debt	9,432	9,597
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 16)	2,089	2,085
Deferred Income Taxes	2,654	2,633
Pension Benefit Obligation	1,472	1,578
Postretirement and Postemployment Benefit Obligation	249	270
Long-Term Lease Obligations	294	304
Other Liabilities	939	640
Equity
Common stock, $1 par value, 2020 – 448.9 shares and 2019 – 448.9 shares	449	449
Paid-in capital	6,283	6,297
Retained earnings	8,123	8,408
Accumulated other comprehensive loss	(5,149)	(4,739)
Shareholders' Equity before Treasury Stock, Total	9,706	10,415
Less: Common stock held in treasury, at cost, 2020 – 55.8 shares and 2019 – 56.8 shares	2,649	2,702
Total International Paper Shareholders’ Equity	7,057	7,713
Noncontrolling interests	3	5
Total Equity	7,060	7,718
Total Liabilities and Equity	$ 32,519	$ 33,471