Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Net Periodic Pension Expense For Qualified And Nonqualified U.S. Defined Benefit Plans [Table Text Block]

Net periodic pension expense for qualified and nonqualified U.S. and non-U.S. defined benefit plans comprised the following:

				2014						2013						2012
In millions	U.S. Plans			Non- U.S. Plans			U.S. Plans			Non- U.S. Plans			U.S. Plans			Non- U.S. Plans
Service cost	$	145		$	5		$	188		$	4		$	152		$	3
Interest cost	600			13			576			11			604			12
Expected return on plan assets	(762		)	(14		)	(738		)	(11		)	(753		)	(12		)
Actuarial loss / (gain)	374			—			485			1			307			—
Amortization of prior service cost	30			—			34			—			32			—
Curtailment gain	—			(4		)	—			—			—			—
Net periodic pension expense (a)	$	387		$	—		$	545		$	5		$	342		$	3

(a) Excludes $1 million in curtailments in 2014 related to the pension freeze remeasurement that were recorded in restructuring and other charges.

The decrease in 2014 pension expense reflects an increase in the discount rate from 4.10% in 2013 to 4.65% in 2014 and lower amortization of unrecognized actuarial losses.

ASSUMPTIONS

International Paper evaluates its actuarial assumptions annually as of December 31 (the measurement date) and considers changes in these long-term factors based upon market conditions and the requirements for employers’ accounting for pensions. These assumptions are used to calculate benefit obligations as of December 31 of the current year and pension expense to be recorded in the following year (i.e., the discount rate used to determine the benefit obligation as of December 31, 2014 was also the discount rate used to determine net pension expense for the 2015 year).

Pension Allocations By Type Of Fund And Target Allocations [Table Text Block]

International Paper’s U.S. pension allocations by type of fund at December 31, and target allocations were as follows:

Asset Class	2014		2013		Target Allocations
Equity accounts	47	%	49	%	43% - 54%
Fixed income accounts	33	%	32	%	25% - 35%
Real estate accounts	10	%	10	%	7% - 13%
Other	10	%	9	%	8% - 17%
Total	100	%	100	%

Schedule of Allocation of Plan Assets [Table Text Block]

Fair Value Measurement at December 31, 2014
Asset Class	Total		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
In millions
Equities – domestic	$	2,268	$	1,380	$	888	$	—
Equities – international	2,397		1,815		582		—
Corporate bonds	1,230		—		1,230		—
Government securities	1,282		—		1,282		—
Mortgage backed securities	172		—		172		—
Other fixed income	207		—		197		10
Commodities	170		—		170		—
Hedge funds	867		—		—		867
Private equity	519		—		—		519
Real estate	1,101		—		—		1,101
Derivatives	376		—		—		376
Cash and cash equivalents	329		329		—		—
Total Investments	$	10,918	$	3,524	$	4,521	$	2,873

Fair Value Measurement at December 31, 2013
Asset Class	Total		Quoted Prices in Active Markets For Identical Assets (Level 1)			Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
In millions
Equities – domestic	$	2,466	$	1,175		$	1,290	$	1
Equities – international	2,313		1,470			843		—
Corporate bonds	1,248		—			1,248		—
Government securities	1,097		—			1,097		—
Mortgage backed securities	143		—			143		—
Other fixed income	74		(1		)	65		10
Commodities	193		—			193		—
Hedge funds	831		—			—		831
Private equity	484		—			—		484
Real estate	1,038		—			—		1,038
Derivatives	313		—			—		313
Cash and cash equivalents	506		(10		)	516		—
Total Investments	$	10,706	$	2,634		$	5,395	$	2,677

Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Table Text Block]

The fair value measurements using significant unobservable inputs (Level 3) at December 31, 2014 were as follows:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

In millions	Equities- Domestic			Other Fixed Income		Hedge Funds			Private Equity			Real Estate			Derivatives			Total
Beginning balance at December 31, 2013	$	1		$	10	$	831		$	484		$	1,038		$	313		$	2,677
Actual return on plan assets:
Relating to assets still held at the reporting date	(1		)	—		37			17			88			18			159
Relating to assets sold during the period	1			—		4			(1		)	14			76			94
Purchases, sales and settlements	(1		)	—		(5		)	(13		)	(7		)	(260		)	(286		)
Transfers in and/or out of Level 3 (a)	—			—		—			32			(32		)	229			229
Ending balance at December 31, 2014	$	—		$	10	$	867		$	519		$	1,101		$	376		$	2,873

(a) Includes the transfer of a $32 million investment historically shown as Real Estate now categorized as Private Equity.

Retirement Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]

	2014						2013
In millions	U.S. Plans			Non- U.S. Plans			U.S. Plans			Non- U.S. Plans
Change in projected benefit obligation:
Benefit obligation, January 1	$	12,903		$	228		$	14,201		$	223
Service cost	145			5			188			4
Interest cost	600			13			576			11
Curtailments	—			(4		)	(14		)	—
Settlements	—			—			(5		)	(4		)
Actuarial loss (gain)	1,755			12			(1,309		)	—
Divestitures	(23		)	—			—			—
Other	—			12			—			3
Plan amendments	133			—			—			—
Special termination benefits	—			—			8			—
Benefits paid	(772		)	(13		)	(742		)	(8		)
Effect of foreign currency exchange rate movements	—			(20		)	—			(1		)
Benefit obligation, December 31	$	14,741		$	233		$	12,903		$	228
Change in plan assets:
Fair value of plan assets	$	10,706		$	181		$	10,111		$	171
Actual return on plan assets	593			13			1,283			15
Company contributions	391			8			59			8
Benefits paid	(772		)	(13		)	(742		)	(8		)
Settlements	—			—			(5		)	(4		)
Other	—			6			—			—
Effect of foreign currency exchange rate movements	—			(15		)	—			(1		)
Fair value of plan assets, December 31	$	10,918		$	180		$	10,706		$	181
Funded status, December 31	$	(3,823	)	$	(53	)	$	(2,197	)	$	(47	)
Amounts recognized in the consolidated balance sheet:
Non-current asset	$	—		$	8		$	—		$	9
Current liability	(62		)	(3		)	(46		)	(2		)
Non-current liability	(3,761		)	(58		)	(2,151		)	(54		)
	$	(3,823	)	$	(53	)	$	(2,197	)	$	(47	)

Schedule Of Amounts In Accumulated Other Comprehensive Income [Table Text Block]

Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):
Prior service cost	$	209	$	—	$	107	$	—
Net actuarial loss	4,812		40		3,285		29
	$	5,021	$	40	$	3,392	$	29

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

The following table summarizes information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2014 and 2013:

	2014				2013
In millions	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
Projected benefit obligation	$	14,741	$	196	$	12,903	$	181
Accumulated benefit obligation	14,559		176		12,560		168
Fair value of plan assets	10,918		135		10,706		125

Pension Benefit Adjustments Recognized In Other Comprehensive (Loss) Income [Table Text Block]

The components of the $1.6 billion and $11 million increase related to U.S. plans and non-U.S. plans, respectively, in the amounts recognized in OCI during 2014 consisted of:

In millions	U.S. Plans			Non- U.S. Plans
Current year actuarial (gain) loss	$	1,924		$	13
Amortization of actuarial loss	(374		)	—
Current year prior service cost	133			—
Amortization of prior service cost	(30		)	—
Curtailments	(1		)	4
Restructuring Effects	(23		)	—
Effect of foreign currency exchange rate movements	—			(6		)
	$	1,629		$	11

Schedule of Assumptions Used [Table Text Block]

ajor actuarial assumptions used in determining the benefit obligations and net periodic pension cost for our defined benefit plans are presented in the following table:

	2014					2013				2012
	U.S. Plans			Non- U.S. Plans		U.S. Plans		Non- U.S. Plans		U.S. Plans		Non- U.S. Plans
Actuarial assumptions used to determine benefit obligations as of December 31:
Discount rate	4.10	%		4.72	%	4.90	%	5.07	%	4.10	%	4.96	%
Rate of compensation increase	3.75	%		4.03	%	3.75	%	4.13	%	3.75	%	3.17	%
Actuarial assumptions used to determine net periodic pension cost for years ended December 31:
Discount rate	4.65	%	(a)	5.07	%	4.10	%	4.96	%	5.10	%	5.98	%
Expected long-term rate of return on plan assets (b)	7.75	%		7.53	%	8.00	%	7.04	%	8.00	%	7.62	%
Rate of compensation increase	3.75	%		4.13	%	3.75	%	3.17	%	3.75	%	3.12	%

(a) Represents the weighted average rate for 2014 due to the remeasurement in the first quarter of 2014.

(b) Represents the expected rate of return for International Paper's qualified pension plan for 2014 and 2013. The weighted average rate for the Temple-Inland Retirement Plan was 7.00%, 6.16% and 5.70% for 2014, 2013 and 2012, respectively.

Effect Of A 25 Basis Point Decrease On Net Pension Expense [Table Text Block]

The following illustrates the effect on pension expense for 2015 of a 25 basis point decrease in the above assumptions:

In millions	2015
Expense/(Income):
Discount rate	$	36
Expected long-term rate of return on plan assets	25
Rate of compensation increase	(1		)

Projected Future Pension Benefit Payments, Excluding Any Termination Benefits [Table Text Block]

At December 31, 2014, projected future pension benefit payments, excluding any termination benefits, were as follows:

In millions
2015	$	802
2016	769
2017	781
2018	795
2019	811
2020 – 2024	4,279