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CONSOLIDATED BALANCE SHEET - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,173,000,000 $ 1,581,000,000
Short-term investments (Note 9) 668,000,000 0
Receivables, net 443,000,000 357,000,000
Receivables for taxes 18,000,000 42,000,000
Inventories (Note 5) 528,000,000 550,000,000
Prepaid expenses and other current assets 186,000,000 216,000,000
Total current assets 3,016,000,000 2,746,000,000
Property and equipment, less accumulated depreciation of $3,854 and $3,710 2,106,000,000 2,171,000,000
Construction in progress 311,000,000 222,000,000
Timber and timberlands at cost, less depletion 11,521,000,000 11,604,000,000
Minerals and mineral rights, less depletion 203,000,000 214,000,000
Deferred tax assets 8,000,000 8,000,000
Other assets 385,000,000 375,000,000
Total assets 17,550,000,000 17,340,000,000
Current liabilities:    
Current maturities of long-term debt (Note 8) 861,000,000 982,000,000
Accounts payable 288,000,000 247,000,000
Accrued liabilities (Note 7) 537,000,000 511,000,000
Total current liabilities 1,686,000,000 1,740,000,000
Long-term debt, net (Note 8) 4,818,000,000 4,071,000,000
Deferred tax liabilities 113,000,000 96,000,000
Deferred pension and other post-employment benefits (Note 6) 349,000,000 344,000,000
Other liabilities 356,000,000 340,000,000
Total liabilities 7,322,000,000 6,591,000,000
Commitments and contingencies (Note 10)
Equity:    
Common shares: $1.25 par value; authorized 1,360 million shares; issued and outstanding: 730,128 thousand shares at September 30, 2023 and 732,794 thousand shares at December 31, 2022 913,000,000 916,000,000
Other capital 7,609,000,000 7,691,000,000
Retained earnings 1,929,000,000 2,389,000,000
Accumulated other comprehensive loss (Note 11) (223,000,000) (247,000,000)
Total equity 10,228,000,000 10,749,000,000
Total liabilities and equity $ 17,550,000,000 $ 17,340,000,000