DIVESTITURES / SPINOFF (Note)

3 Months Ended

Mar. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Divestitures [Note Text Block]

DIVESTITURES / SPINOFF

Discontinued Operations

2014: On July 1, 2014, International Paper completed the spinoff of its distribution solutions business, xpedx, and xpedx's merger with Unisource Worldwide, Inc., with the combined companies now operating as Veritiv Corporation (Veritiv). The xpedx business had historically represented the Company's Distribution reportable segment.

The spinoff was accomplished by the contribution of the xpedx business to Veritiv and the distribution of 8,160,000 shares of Veritiv common stock on a pro-rata basis to International Paper shareholders. International Paper received a payment of approximately $411 million, financed with new debt in Veritiv's capital structure.

All current and historical operating results for xpedx are included in Discontinued operations, net of tax, in the consolidated statement of operations. The following summarizes the major classes of line items comprising Earnings (Loss) Before Income Taxes and Equity Earnings reconciled to Discontinued Operations, net of tax, related to the xpedx spinoff for the three months ended March 31, 2014 in the consolidated statement of operations:

In millions	Three Months Ended March 31, 2014
Net Sales	$	1,290
Cost and Expenses
Cost of products sold	1,140
Selling and administrative expenses	100
Depreciation, amortization and cost of timber harvested	4
Distribution expenses	34
Restructuring and other charges	18
Other, net	2
Earnings (Loss) Before Income Taxes and Equity Earnings	(8		)
Income tax provision (benefit)	(3		)
Discontinued Operations, Net of Taxes (a)	$	(5	)

(a) These amounts, along with a net loss of $2 million related to the Temple-Inland Building Products divestitures, are included in Discontinued operations, net of tax, in the consolidated statement of operations for the three months ended March 31, 2014.

Total cash provided by operations related to xpedx of $50 million for the three months ended March 31, 2014 is included in Cash Provided By (Used For) Operations in the consolidated statement of cash flows. There was no cash provided by investing activities related to xpedx for the three months ended March 31, 2014.