CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 212	$ 334
Receivables, less discounts and allowances of $1 and $1	408	337
Receivables for taxes	157	137
Inventories (Note 5)	425	389
Prepaid expenses and other current assets	132	152
Current restricted financial investments held by variable interest entities (Note 6)	362	253
Total current assets	1,696	1,602
Property and equipment, less accumulated depreciation of $3,437 and $3,376	1,901	1,857
Construction in progress	134	136
Timber and timberlands at cost, less depletion	12,516	12,671
Minerals and mineral rights, less depletion	288	294
Deferred tax assets	33	15
Other assets	461	312
Restricted financial investments held by variable interest entities (Note 6)	0	362
Total assets	17,029	17,249
Current liabilities:
Current maturities of long-term debt (Note 9)	0	500
Current debt (nonrecourse to the company) held by variable interest entities (Note 6)	302	302
Borrowings on line of credit (Note 9)	140	425
Accounts payable	271	222
Accrued liabilities (Note 8)	510	490
Total current liabilities	1,223	1,939
Long-term debt (Note 9)	6,153	5,419
Deferred tax liabilities	17	43
Deferred pension and other postretirement benefits (Note 7)	515	527
Other liabilities	397	275
Total liabilities	8,305	8,203
Commitments and contingencies (Note 11)
Equity:
Common shares: $1.25 par value; authorized 1,360 million shares; issued and outstanding: 744,905 thousand shares at June 30, 2019 and 746,391 thousand shares at December 31, 2018	931	933
Other capital	8,130	8,172
Retained earnings	418	1,093
Accumulated other comprehensive loss (Note 12)	(755)	(1,152)
Total equity	8,724	9,046
Total liabilities and equity	$ 17,029	$ 17,249