Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current Assets
Cash and temporary investments	$ 2,122	$ 595
Restricted Cash, Current	1,499
Accounts and notes receivable, net	3,549	3,064
Contract assets	427	355
Inventories	2,053	2,050
Current financial assets of variable interest entities (Note 16)	0	4,850
Assets held for sale	0	138
Other current assets	246	184
Total Current Assets	9,896	11,236
Plants, Properties and Equipment, net	11,360	12,217
Forestlands	303	311
Investments	713	1,178
Long-Term Financial Assets of Variable Interest Entities (Note 16)	2,270	2,257
Goodwill	3,274	3,315
Pension Assets	545	5
Right of Use Assets	405	459
Deferred Charges and Other Assets	705	740
Total Assets	29,471	31,718
Current Liabilities
Notes payable and current maturities of long-term debt	233	29
Current nonrecourse financial liabilities of variable interest entities (Note 16)	0	4,220
Accounts payable	2,704	2,320
Accrued payroll and benefits	489	466
Liabilities held for sale	0	181
Other current liabilities	1,272	1,068
Total Current Liabilities	4,698	8,284
Long-Term Debt	8,241	8,064
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 16)	2,098	2,092
Deferred Income Taxes	2,728	2,743
Pension Benefit Obligation	418	1,055
Postretirement and Postemployment Benefit Obligation	235	251
Long-Term Lease Obligations	263	315
Other Liabilities	1,167	1,046
Equity
Common stock, $1 par value, 2021 – 448.9 shares and 2020 – 448.9 shares	449	449
Paid-in capital	6,371	6,325
Retained earnings	9,103	8,070
Accumulated other comprehensive loss	(3,314)	(4,342)
Shareholders' Equity before Treasury Stock, Total	12,609	10,502
Less: Common stock held in treasury, at cost, 2021 – 61.7 shares and 2020 – 55.8 shares	2,987	2,648
Total International Paper Shareholders’ Equity	9,622	7,854
Noncontrolling interests	1	14
Total Equity	9,623	7,868
Total Liabilities and Equity	$ 29,471	$ 31,718