CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 676	$ 1,011
Receivables, less discounts and allowances of $1 and $1	390	276
Receivables for taxes	84	30
Inventories (Note 6)	358	325
Prepaid expenses and other current assets	114	63
Assets of discontinued operations (Note 3)	0	1,934
Total current assets	1,622	3,639
Property and equipment, less accumulated depreciation of $3,306 and $3,287 (Note 7)	1,562	1,233
Construction in progress	213	144
Timber and timberlands at cost, less depletion charged to disposals	14,299	6,552
Minerals and mineral rights, less depletion	319	14
Investments in and advances to joint ventures (Note 8)	56	0
Goodwill	40	40
Deferred tax assets (Note 19)	293	254
Other assets	224	229
Restricted financial investments held by variable interest entities (Note 8)	615	615
Total assets	19,243	12,720
LIABILITIES AND EQUITY
Current maturities of long-term debt (Notes 12 and 13)	281	0
Notes payable	1	4
Accounts payable	233	204
Accrued liabilities (Note 10)	691	427
Liabilities of discontinued operations (Note 3)	0	690
Total current liabilities	1,206	1,325
Long-term debt (Notes 12 and 13)	6,329	4,787
Long-term debt (nonrecourse to the company) held by variable interest entities (Note 8)	511	511
Deferred pension and other postretirement benefits (Note 9)	1,322	987
Deposit received from contribution of timberlands to related party (Note 8)	426	0
Other liabilities	269	241
Commitments and contingencies (Note 14)
Total liabilities	10,063	7,851
Weyerhaeuser shareholders’ interest (Notes 15 and 16):
Mandatory convertible preference shares, series A: $1.00 par value; $50.00 liquidation; authorized 40,000,000 shares; issued and outstanding: 0 and 13,799,711 shares	0	14
Common shares: $1.25 par value; authorized 1,360,000,000 shares; issued and outstanding: 748,528,131 and 510,483,285 shares	936	638
Other capital	8,282	4,080
Retained earnings	1,421	1,349
Cumulative other comprehensive loss	(1,459)	(1,212)
Total equity	9,180	4,869
Total liabilities and equity	$ 19,243	$ 12,720

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).