ACQUISITIONS AND JOINT VENTURES (Tables)

6 Months Ended

Jun. 30, 2013

Pro Forma Information on Consolidated Results of Operations Related to Acquisitions

This information does not purport to represent International Paper’s actual results of operations if the transaction described above would have occurred on January 1, 2012, nor is it necessarily indicative of future results.

In millions, except per share amounts	Six Months Ended June 30, 2012
Net sales	$	14,024
Earnings (loss) from continuing operations (a)	342
Net earnings (loss) (a)	363
Diluted earnings (loss) from continuing operations per common share (a)	0.78
Diluted net earnings (loss) per common share (a)	0.83

(a) Attributable to International Paper Company common shareholders.

Olmuksan Joint Venture

Schedule of Recognized Identified Assets Acquired and Liabilities assumed [Table Text Block]

The following table summarizes the preliminary allocation of the purchase price to the fair value of assets and liabilities acquired as of January 1, 2013.

In millions
Cash and temporary investments	$	5
Accounts and notes receivable	72
Inventory	31
Other current assets	2
Plants, properties and equipment	105
Investments	11
Total assets acquired	226
Notes payable and current maturities of long-term debt	17
Accounts payable and accrued liabilities	27
Deferred income tax liability	4
Postretirement and postemployment benefit obligation	6
Total liabilities assumed	54
Noncontrolling interest	18
Net assets acquired	$	154

Temple-Inland Inc.

Schedule of Recognized Identified Assets Acquired and Liabilities assumed [Table Text Block]

he following summarizes the allocation of the purchase price to the fair value of assets and liabilities acquired as of February 13, 2012, which was finalized in the fourth quarter of 2012.

In millions
Accounts and notes receivable	$	466
Inventory	484
Deferred income tax assets – current	140
Other current assets	57
Plants, properties and equipment	2,911
Financial assets of special purpose entities	2,091
Goodwill	2,139
Other intangible assets	693
Deferred charges and other assets	54
Total assets acquired	9,035
Notes payable and current maturities of long-term debt	130
Accounts payable and accrued liabilities	704
Long-term debt	527
Nonrecourse financial liabilities of special purpose entities	2,030
Deferred income tax liability	1,252
Pension benefit obligation	338
Postretirement and postemployment benefit obligation	99
Other liabilities	221
Total liabilities assumed	5,301
Net assets acquired	$	3,734

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] [Table Text Block]

The identifiable intangible assets acquired in connection with the Temple-Inland acquisition included the following:

In millions	Estimated Fair  Value		Average Remaining Useful Life
			(at acquisition date)
Asset Class:
Customer relationships	$	536	12-17 years
Developed technology	8		5-10 years
Tradenames	109		Indefinite
Favorable contracts	14		4-7 years
Non-compete agreement	26		2 years
Total	$	693

Orsa IP

Schedule of Recognized Identified Assets Acquired and Liabilities assumed [Table Text Block]

The following table summarizes the preliminary allocation of the purchase price to the fair value of assets and liabilities acquired as of January 14, 2013.

In millions
Cash and temporary investments	$	16
Accounts and notes receivable, net	5
Inventory	27
Plants, properties and equipment	293
Goodwill	190
Other intangible assets	144
Other long-term assets	3
Total assets acquired	678
Accounts payable and accrued liabilities	10
Deferred income tax liability	69
Total liabilities assumed	79
Noncontrolling interest	134
Net assets acquired	$	465

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] [Table Text Block]

The identifiable intangible assets acquired in connection with the Orsa IP acquisition included the following:

In millions	Estimated Fair  Value		Average Remaining Useful Life
			(at acquisition date)
Asset Class:
Customer relationships	$	116	12 years
Trademark	4		6 years
Wood supply agreement	24		25 years
Total	$	144