v3.26.3
CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 349 $ 464
Receivables, net 383 303
Receivables for taxes 6 10
Inventories (Note 5) 592 593
Assets held for sale 0 128
Prepaid expenses and other current assets 131 154
Total current assets 1,461 1,652
Property and equipment, less accumulated depreciation of $4,306 and $4,158 2,427 2,420
Construction in progress 466 337
Timber and timberlands at cost, less depletion 11,337 11,533
Minerals and mineral rights, less depletion 170 177
Deferred tax assets 144 97
Other assets 375 397
Total assets 16,380 16,613
Current liabilities:    
Current maturities of long-term debt (Note 8) 0 522
Accounts payable 310 278
Accrued liabilities (Note 7) 494 478
Total current liabilities 804 1,278
Long-term debt, net (Note 8) 5,354 5,050
Deferred tax liabilities 16 18
Deferred pension and other post-employment benefits (Note 6) 488 485
Other liabilities 336 356
Total liabilities 6,998 7,187
Commitments and contingencies (Note 10)
Equity:    
Common shares: $1.25 par value; authorized 1,360 million shares; issued and outstanding: 720,342 thousand shares at September 30, 2026 and 720,531 thousand shares at December 31, 2025 900 901
Other capital 7,393 7,390
Retained earnings 1,351 1,428
Accumulated other comprehensive loss (Note 11) (262) (293)
Total equity 9,382 9,426
Total liabilities and equity $ 16,380 $ 16,613