International Paper 2014 Annual Report Download - page 84
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48
CONSOLIDATED BALANCE SHEET
In millions, except per share amounts, at December 31 2014 2013
ASSETS
Current Assets
Cash and temporary investments $ 1,881 $ 1,802
Accounts and notes receivable, less allowances of $82 in 2014 and $109 in 2013 3,083 3,756
Inventories 2,424 2,825
Deferred income tax assets 331 302
Other current assets 240 340
Total Current Assets 7,959 9,025
Plants, Properties and Equipment, net 12,728 13,672
Forestlands 507 557
Investments 248 733
Financial Assets of Special Purpose Entities (Note 12) 2,145 2,127
Goodwill 3,773 3,987
Deferred Charges and Other Assets 1,324 1,427
TOTAL ASSETS $ 28,684 $ 31,528
LIABILITIES AND EQUITY
Current Liabilities
Notes payable and current maturities of long-term debt $ 742 $661
Accounts payable 2,664 2,900
Accrued payroll and benefits 477 511
Other accrued liabilities 1,026 1,055
Total Current Liabilities 4,909 5,127
Long-Term Debt 8,631 8,827
Nonrecourse Financial Liabilities of Special Purpose Entities (Note 12) 2,050 2,043
Deferred Income Taxes 3,063 3,765
Pension Benefit Obligation 3,819 2,205
Postretirement and Postemployment Benefit Obligation 396 412
Other Liabilities 553 702
Redeemable Noncontrolling Interest —163
Commitments and Contingent Liabilities (Note 11)
Equity
Common stock $1 par value, 2014 – 448.9 shares and 2013 – 447.2 shares 449 447
Paid-in capital 6,245 6,463
Retained earnings 4,409 4,446
Accumulated other comprehensive loss (4,646) (2,759)
6,457 8,597
Less: Common stock held in treasury, at cost, 2014 – 28.734 shares and 2013 – 10.868 shares 1,342 492
Total Shareholders’ Equity 5,115 8,105
Noncontrolling interests 148 179
Total Equity 5,263 8,284
TOTAL LIABILITIES AND EQUITY $ 28,684 $ 31,528
The accompanying notes are an integral part of these financial statements.