v3.26.1
CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 527 $ 464
Receivables, net 373 303
Receivables for taxes 5 10
Inventories (Note 5) 604 593
Assets held for sale 0 128
Prepaid expenses and other current assets 127 154
Total current assets 1,636 1,652
Property and equipment, less accumulated depreciation of $4,248 and $4,158 2,405 2,420
Construction in progress 423 337
Timber and timberlands at cost, less depletion 11,384 11,533
Minerals and mineral rights, less depletion 173 177
Deferred tax assets 113 97
Other assets 379 397
Total assets 16,513 16,613
Current liabilities:    
Current maturities of long-term debt (Note 8) 122 522
Accounts payable 311 278
Accrued liabilities (Note 7) 468 478
Total current liabilities 901 1,278
Long-term debt, net (Note 8) 5,303 5,050
Deferred tax liabilities 15 18
Deferred pension and other post-employment benefits (Note 6) 486 485
Other liabilities 352 356
Total liabilities 7,057 7,187
Commitments and contingencies (Note 10)
Equity:    
Common shares: $1.25 par value; authorized 1,360 million shares; issued and outstanding: 720,692 thousand shares at June 30, 2026 and 720,531 thousand shares at December 31, 2025 901 901
Other capital 7,392 7,390
Retained earnings 1,442 1,428
Accumulated other comprehensive loss (Note 11) (279) (293)
Total equity 9,456 9,426
Total liabilities and equity $ 16,513 $ 16,613