Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash and temporary investments	$ 678	$ 511
Accounts and notes receivable, net	3,034	3,280
Contract assets	388	393
Inventories	2,007	2,208
Assets held for sale	114	0
Other current assets	217	247
Total Current Assets	11,288	6,639
Plants, Properties and Equipment, net	12,410	13,004
Forestlands	288	391
Investments	1,100	1,721
Goodwill	3,304	3,347
Right of Use Assets	422	434
Deferred Charges and Other Assets	776	847
Total Assets	31,840	33,471
Current Liabilities
Notes payable and current maturities of long-term debt	179	168
Accounts payable	2,226	2,423
Accrued payroll and benefits	453	466
Liabilities held for sale	376	0
Other current liabilities	1,022	1,369
Total Current Liabilities	8,476	8,646
Long-Term Debt	8,525	9,597
Deferred Income Taxes	2,639	2,633
Pension Benefit Obligation	1,421	1,578
Postretirement and Postemployment Benefit Obligation	246	270
Long-Term Lease Obligations	290	304
Other Liabilities	1,056	640
Equity
Common stock, $1 par value, 2020 – 448.9 shares and 2019 – 448.9 shares	449	449
Paid-in capital	6,302	6,297
Retained earnings	8,122	8,408
Accumulated other comprehensive loss	(5,132)	(4,739)
Shareholders' Equity before Treasury Stock, Total	9,741	10,415
Less: Common stock held in treasury, at cost, 2020 – 55.8 shares and 2019 – 56.8 shares	2,648	2,702
Total International Paper Shareholders’ Equity	7,093	7,713
Noncontrolling interests	3	5
Total Equity	7,096	7,718
Total Liabilities and Equity	31,840	33,471
Variable Interest Entity, Primary Beneficiary
Current Assets
Current financial assets of variable interest entities (Note 16)	4,850	0
Long-Term Financial Assets of Variable Interest Entities (Note 16)	2,252	7,088
Current Liabilities
Current nonrecourse financial liabilities of variable interest entities (Note 16)	4,220	4,220
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 16)	$ 2,091	$ 2,085