INVENTORIES (Tables)

3 Months Ended

Mar. 31, 2012

Forest Products Inventories

Forest Products inventories include raw materials, work-in-process and finished goods.

DOLLAR AMOUNTS IN MILLIONS	MARCH 31, 2012			DECEMBER 31, 2011
Logs and chips	$	93		$	68
Lumber, plywood, panels and engineered lumber	144			134
Pulp and paperboard	168			181
Other products	77			76
Materials and supplies	138			137
	620			596
Less LIFO reserve	(103		)	(120		)
Total	$	517		$	476