International Paper 2015 Annual Report Download - page 63
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46
CONSOLIDATED BALANCE SHEET
In millions, except per share amounts, at December 31 2015 2014
ASSETS
Current Assets
Cash and temporary investments $ 1,050 $ 1,881
Accounts and notes receivable, less allowances of $70 in 2015 and $82 in 2014 2,675 3,083
Inventories 2,228 2,424
Deferred income tax assets 312 331
Other current assets 212 240
Total Current Assets 6,477 7,959
Plants, Properties and Equipment, net 11,980 12,728
Forestlands 366 507
Investments 228 248
Financial Assets of Special Purpose Entities (Note 12) 7,014 2,145
Goodwill 3,335 3,773
Deferred Charges and Other Assets 1,187 1,324
TOTAL ASSETS $ 30,587 $ 28,684
LIABILITIES AND EQUITY
Current Liabilities
Notes payable and current maturities of long-term debt $ 426 $742
Accounts payable 2,078 2,664
Accrued payroll and benefits 434 477
Other accrued liabilities 986 1,026
Total Current Liabilities 3,924 4,909
Long-Term Debt 8,900 8,631
Nonrecourse Financial Liabilities of Special Purpose Entities (Note 12) 6,277 2,050
Deferred Income Taxes 3,231 3,063
Pension Benefit Obligation 3,548 3,819
Postretirement and Postemployment Benefit Obligation 364 396
Other Liabilities 434 553
Commitments and Contingent Liabilities (Note 11)
Equity
Common stock $1 par value, 2015 & 2014 – 448.9 shares 449 449
Paid-in capital 6,243 6,245
Retained earnings 4,649 4,409
Accumulated other comprehensive loss (5,708) (4,646)
5,633 6,457
Less: Common stock held in treasury, at cost, 2015 – 36.776 shares and 2014 – 28.734 shares 1,749 1,342
Total Shareholders’ Equity 3,884 5,115
Noncontrolling interests 25 148
Total Equity 3,909 5,263
TOTAL LIABILITIES AND EQUITY $ 30,587 $ 28,684
The accompanying notes are an integral part of these financial statements.