Inventories

6 Months Ended

Jun. 30, 2011

PLUM CREEK TIMBER CO INC [Member]

Inventory

Inventories, accounted for using the lower of average cost or market, consisted of the following (in millions):



	June 30, 2011		December 31, 2010
Raw Materials (primarily logs)	$	4	$	12
Work-In-Process	1		1
Finished Goods	27		24
	32		37
Supplies	11		12
Total	$	43	$	49

PLUM CREEK TIMBERLANDS L P [Member]

Inventories

Inventory

Inventories, accounted for using the lower of average cost or market, consisted of the following (in millions):



	June 30, 2011		December 31, 2010
Raw Materials (primarily logs)	$	4	$	12
Work-In-Process	1		1
Finished Goods	27		24
	32		37
Supplies	11		12
Total	$	43	$	49

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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