CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 1,012	$ 1,580
Receivables, less discounts and allowances of $3 and $3	487	525
Receivables for taxes	30	25
Inventories (Note 6)	568	595
Prepaid expenses	77	80
Total current assets	2,174	2,805
Property and equipment, less accumulated depreciation of $6,294 and $6,324 (Note 7)	2,586	2,623
Construction in progress	195	131
Timber and timberlands at cost, less depletion charged to disposals	6,480	6,530
Investments in and advances to equity affiliates (Note 8)	74	188
Goodwill	40	40
Deferred tax assets (Note 20)	4	44
Other assets	318	289
Restricted financial investments held by variable interest entities (Note 10)	615	615
Total assets	12,486	13,265
LIABILITIES AND EQUITY
Accounts payable	326	331
Accrued liabilities (Note 11)	549	587
Total current liabilities	875	918
Long-term debt (Notes 13 and 14)	4,891	4,891
Long-term debt (nonrecourse to the company) held by variable interest entities (Note 10)	511	511
Deferred income taxes (Note 20)	86	14
Deferred pension and other postretirement benefits (Note 9)	987	1,319
Other liabilities	267	308
Total liabilities	7,617	7,961
Weyerhaeuser shareholders’ interest (Notes 16 and 17):
Mandatory convertible preference shares, series A: $1.00 par value; $50.00 liquidation; authorized 40,000,000 shares; issued and outstanding: 13,799,711 and 13,800,000 shares (Note 4)	14	14
Common shares: $1.25 par value; authorized 1,360,000,000 shares; issued and outstanding: 510,483,285 and 524,474,315 shares (Note 4)	638	656
Other capital (Note 4)	4,080	4,519
Retained earnings	1,349	1,508
Cumulative other comprehensive loss	(1,212)	(1,393)
Total equity	4,869	5,304
Total liabilities and equity	$ 12,486	$ 13,265

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).