CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,723	$ 1,879
Receivables, net	547	507
Receivables for taxes	6	24
Inventories (Note 5)	571	520
Prepaid expenses and other current assets	165	205
Total current assets	3,012	3,135
Property and equipment, less accumulated depreciation of $3,673 and $3,592	2,000	2,057
Construction in progress	233	175
Timber and timberlands at cost, less depletion	11,706	11,510
Minerals and mineral rights, less depletion	248	255
Deferred tax assets	11	17
Other assets	370	503
Total assets	17,580	17,652
Current liabilities:
Accounts payable	283	281
Accrued liabilities (Note 7)	658	673
Total current liabilities	941	954
Long-term debt, net (Note 8)	5,053	5,099
Deferred tax liabilities	83	46
Deferred pension and other post-employment benefits (Note 6)	347	440
Other liabilities	340	346
Total liabilities	6,764	6,885
Commitments and contingencies (Note 10)
Equity:
Common shares: $1.25 par value; authorized 1,360 million shares; issued and outstanding: 741,738 thousand shares at June 30, 2022 and 747,301 thousand shares at December 31, 2021	927	934
Other capital	7,954	8,181
Retained earnings	2,333	2,131
Accumulated other comprehensive loss (Note 11)	(398)	(479)
Total equity	10,816	10,767
Total liabilities and equity	$ 17,580	$ 17,652