INVENTORIES (Tables)

3 Months Ended

Mar. 31, 2015

Inventories

Inventories include raw materials, work-in-process and finished goods.

DOLLAR AMOUNTS IN MILLIONS	MARCH 31, 2015		DECEMBER 31, 2014
LIFO Inventories:
Logs and chips	$	20	$	9
Lumber, plywood and panels	74		55
Pulp and paperboard	128		122
Other products	15		11
FIFO or moving average cost inventories:
Logs and chips	48		38
Lumber, plywood, panels and engineered wood products	85		80
Pulp and paperboard	34		35
Other products	92		96
Materials and supplies	149		149
Total	$	645	$	595