Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and temporary investments $ 511 $ 589
Accounts and notes receivable (less allowances of $73 in 2019 and $81 in 2018) 3,280 3,521
Contract assets 393 395
Inventories 2,208 2,241
Other current assets 247 250
Total Current Assets 6,639 6,996
Plants, Properties and Equipment, net 13,004 13,067
Forestlands 391 402
Investments 1,721 1,648
Financial Assets of Variable Interest Entities (Note 15) 7,088 7,070
Goodwill 3,347 3,374
Right of Use Assets 434 0
Deferred Charges and Other Assets 847 1,019
TOTAL ASSETS 33,471 33,576
Current Liabilities    
Notes payable and current maturities of long-term debt 168 639
Current nonrecourse financial liabilities of variable interest entities (Note 15) 4,220 0
Accounts payable 2,423 2,413
Accrued payroll and benefits 466 535
Other current liabilities 1,369 1,107
Total Current Liabilities 8,646 4,694
Long-Term Debt 9,597 10,015
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 15) 2,085 6,298
Deferred Income Taxes 2,633 2,600
Pension Benefit Obligation 1,578 1,762
Postretirement and Postemployment Benefit Obligation 270 264
Long-Term Lease Obligations 304 0
Other Liabilities 640 560
Commitments and Contingent Liabilities (Note 14)
Equity    
Common stock $1 par value, 2019 - 448.9 shares and 2018 - 448.9 shares 449 449
Paid-in capital 6,297 6,280
Retained earnings 8,408 7,465
Accumulated other comprehensive loss (4,739) (4,500)
Total Shareholders' Equity Before Treasury Stock 10,415 9,694
Less: Common stock held in treasury, at cost, 2019 – 56.800 shares and 2018 – 48.310 shares 2,702 2,332
Total International Paper Shareholders’ Equity 7,713 7,362
Noncontrolling interests 5 21
Total Equity 7,718 7,383
TOTAL LIABILITIES AND EQUITY $ 33,471 $ 33,576