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Interim Financial Results (Unaudited) (Note)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Interim Financial Results (Unaudited) [Note Text Block]
In millions, except per share amounts and stock prices
1st
Quarter
 
2nd
Quarter
 
3rd
Quarter
 
4th Quarter
 
Year
 
2015
 
 
 
 
 
 
 
 
 
 
Net sales
$
5,517

  
$
5,714

  
$
5,691

  
$
5,443

  
$
22,365

 
Gross margin (a)
1,673

  
1,746

  
1,800

  
1,678

  
6,897

 
Earnings (loss) from continuing operations before income taxes and equity earnings
406


266

(b) 
329

(b) 
265

(b) 
1,266

(b)
Gain (loss) from discontinued operations
—


—


—


—


—


Net earnings (loss) attributable to International Paper Company
313


227

(b,c) 
220

(b,c) 
178

(b,c) 
938

(b,c)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:
 
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
$
0.74


$
0.54

(b) 
$
0.53

(b) 
$
0.43

(b) 
$
2.25

(b)
Gain (loss) from discontinued operations
—


—


—


—


—


Net earnings (loss)
0.74


0.54

(b,c) 
0.53

(b,c) 
0.43

(b,c) 
2.25

(b,c)
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:
 
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
0.74


0.54

(b) 
0.53

(b) 
0.43

(b) 
2.23

(b)
Gain (loss) from discontinued operations
—


—


—


—


—


Net earnings (loss)
0.74


0.54

(b,c) 
0.53

(b,c) 
0.43

(b,c) 
2.23

(b,c)
Dividends per share of common stock
0.4000

  
0.4000

  
0.4000

  
0.4400

  
1.6400

 
Common stock prices
 
 
 
 
 
 
 
 
 
 
High
$
57.90

  
$
56.49

  
$
49.49

  
$
44.83

  
$
57.90

 
Low
51.35

  
47.39

  
37.11

  
36.76

  
36.76

 
2014
 
 
 
 
 
 
 
 
 
 
Net sales
$
5,724

  
$
5,899

  
$
6,051

  
$
5,943

  
$
23,617

 
Gross margin (a)
1,690

  
1,839

  
1,996

  
1,838

  
7,363

 
Earnings (loss) from continuing operations before income taxes and equity earnings
(139
)
(d) 
152

(d) 
552

(d)
307

(d) 
872

(d)
Gain (loss) from discontinued operations
(7
)
(e)
(13
)
(e)
16

(e)
(9
)
(e)
(13
)
(e)
Net earnings (loss) attributable to International Paper Company
(95
)
(d-f) 
161

(d-f) 
355

(d-f)
134

(d-f) 
555

(d-f)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:


 


 


 


 


 
Earnings (loss) from continuing operations
$
(0.20
)
(d) 
$
0.40

(d) 
$
0.80

(d)
$
0.34

(d) 
$
1.33

(d)
Gain (loss) from discontinued operations
(0.01
)
(e)
(0.03
)
(e)
0.04

(e)
(0.02
)
(e)
(0.03
)
(e)
Net earnings (loss)
(0.21
)
(d-f) 
0.37

(d-f) 
0.84

(d-f)
0.32

(d-f) 
1.30

(d-f)
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:


 


 


 


 


 
Earnings (loss) from continuing operations
(0.20
)
(d) 
0.40

(d) 
0.79

(d)
0.34

(d) 
1.31

(d)
Gain (loss) from discontinued operations
(0.01
)
(e)
(0.03
)
(e)
0.04

(e)
(0.02
)
(e)
(0.02
)
(e)
Net earnings (loss)
(0.21
)
(d-f) 
0.37

(d-f) 
0.83

(d-f)
0.32

(d-f) 
1.29

(d-f)
Dividends per share of common stock
0.3500

  
0.3500

  
0.3500

  
0.4000

  
1.4500

 
Common stock prices
 
 
 
 
 
 
 
 
 
 
High
$
49.71

  
$
50.65

  
$
51.98

  
$
55.73

  
$
55.73

 
Low
44.43

  
44.24

  
46.77

  
44.50

  
44.24

 




Note: Since basic and diluted earnings per share are computed independently for each period and category, full year per share amounts may not equal the sum of the four quarters. In addition, the unaudited selected consolidated financial data are derived from our audited consolidated financial statements and have been revised to reflect discontinued operations.

Footnotes to Interim Financial Results
(a)
Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested.
(b)
Includes the following pre-tax charges (gains):
 
 
2015
In millions
 
Q1

 
Q2
 
Q3
 
Q4
Riegelwood mill conversion costs, net of proceeds from sale of the Carolina Coated Bristols brand
 
$
—

 
$
(14
)
 
$
7

 
$
15

Timber monetization restructuring
 
—

 
—

 
17

 
(1
)
Early debt extinguishment costs
 
—

 
207

 
—

 
—

Refund and state tax credits
 
—

 
(4
)
 
—

 
—

IP-Sun JV impairment
 
—

 
—

 
186

 
(12
)
Legal reserve adjustment
 
—

 
—

 
—

 
15

Impairment of Orsa goodwill and trade name intangible
 
—

 
—

 
—

 
137

Other items
 
—

 
1

 
1

 
4

Total
 
$
—

 
$
190

 
$
211

 
$
158


(c) Includes the following tax expenses (benefits):
 
 
2015
 
 
Q1
 
Q2
 
Q3
 
Q4
Tax expense for cash pension
 
$
—

 
$
23

 
$
—

 
$
—

Tax benefit related to IP-Sun JV
 
—

 
—

 
(67
)
 
—

Other items
 
—

 
5

 
—

 
2

Total
 
$
—

 
$
28

 
$
(67
)
 
$
2


(d) Includes the following pre-tax charges (gains):
 
 
2014
 
 
Q1
 
Q2
 
Q3
 
Q4
Temple-Inland integration
 
$
12

 
$
2

 
$
1

 
$
1

Courtland mill shutdown
 
495

 
49

 
3

 
7

Early debt extinguishment costs
 
—

 
262

 
13

 
1

India legal contingency resolution
 
—

 
—

 
(20
)
 
—

Multi-employer pension plan withdrawal liability
 
—

 
—

 
35

 
—

Foreign tax amnesty program
 
—

 
—

 
32

 
—

Asia Industrial Packaging goodwill impairment
 
—

 
—

 
—

 
100

Loss on sale by investee and impairment of investment
 
—

 
—

 
—

 
47

Other items
 
4

 
(4
)
 
13

 
(1
)
Total
 
$
511

 
$
309

 
$
77

 
$
155


(e) Includes the after-tax operating earnings of the xpedx business prior to the spin-off and the following after-tax charges (gains):
 
 
2014
 
 
Q1
 
Q2
 
Q3
 
Q4
xpedx spinoff
 
$
10

 
$
20

 
$
(14
)
 
$
—

Building Products divestiture
 
2

 
—

 
(2
)
 
9

xpedx restructuring
 
—

 
(1
)
 
—

 
—

Total
 
$
12

 
$
19

 
$
(16
)
 
$
9


(f) Includes the following tax expenses (benefits):
 
 
2014
 
 
Q1
 
Q2
 
Q3
 
Q4
State legislative tax change
 
$
10

 
$
—

 
$
—

 
$
—

Internal restructuring
 
—

 
—

 
—

 
(90
)
Other items
 
(1
)
 
—

 
—

 
—

Total
 
$
9

 
$
—

 
$
—

 
$
(90
)