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RECENT ACCOUNTING DEVELOPMENTS (Tables)
 3 Months Ended
Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
The following table details the impact of the retrospective adoption of this standard on 2017 first quarter amounts reported in the accompanying condensed consolidated statement of operations and on full-year amounts for 2017, 2016 and 2015 reported in in the Company's 2017 Form 10-K. The retrospective adoption had no impact on Net earnings (loss).
Condensed Consolidated Statement of Operations
 
 
Three Months Ended March 31, 2017
In millions
 
Previously Reported
 
Impact of Adoption Increase/(Decrease)
 
As Revised
Cost of products sold
 
$
3,669

 
$
(31
)
 
$
3,638

Selling and administrative expenses
 
400

 
(7
)
 
393

Non-operating pension expense
 
—

 
38

 
38

 
 
 
 
 
 
 
 
 
Year Ended December 31, 2017
In millions
 
Previously Reported
 
Impact of Adoption Increase/(Decrease)
 
As Revised
Cost of products sold
 
$
15,300

 
$
(499
)
 
$
14,801

Selling and administrative expenses
 
1,653

 
(32
)
 
1,621

Non-operating pension expense
 
—

 
531

 
531

 
 
 
 
 
 
 
 
 
Year Ended December 31, 2016
In millions
 
Previously Reported
 
Impact of Adoption Increase/(Decrease)
 
As Revised
Cost of products sold
 
$
14,057

 
$
(639
)
 
$
13,418

Selling and administrative expenses
 
1,484

 
(26
)
 
1,458

Non-operating pension expense
 
—

 
665

 
665

 
 
 
 
 
 
 
 
 
Year Ended December 31, 2015
In millions
 
Previously Reported
 
Impact of Adoption Increase/(Decrease)
 
As Revised
Cost of products sold
 
$
14,313

 
$
(270
)
 
$
14,043

Selling and administrative expenses
 
1,539

 
(43
)
 
1,496

Non-operating pension expense
 
—

 
313

 
313
Schedule of Prospective Adoption of New Accounting Pronouncements [Table Text Block]
The impacts of the adoption of the new revenue standard on the Company's condensed consolidated financial statements were as follows:
Condensed Consolidated Statement of Operations
 
 
Three Months Ended March 31, 2018
In millions
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Net sales
 
$
5,621

 
$
5,599

 
$
22

Cost of products sold
 
3,948

 
3,932

 
16

Distribution expenses
 
366

 
367

 
(1
)
Income tax provision (benefit), net
 
89

 
87

 
2

Earnings (loss) from continuing operations
 
362

 
357

 
5

Net earnings (loss)
 
730

 
725

 
5

Earnings per share attributable to International Paper Company Shareholders
 
 
 
 
 
 
Basic
 
$
1.76

 
$
1.75

 
$
0.01

Diluted
 
1.74

 
1.73

 
0.01

 
 
 
 
 
 
 
Condensed Consolidated Balance Sheet
 
 
March 31, 2018
In millions
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Contract assets
 
$
388

 
$
—

 
$
388

Inventories
 
2,057

 
2,324

 
(267
)
Other current assets
 
258

 
274

 
(16
)
Other accrued liabilities
 
992

 
975

 
17

Deferred income taxes
 
2,480

 
2,470

 
10

Retained earnings
 
6,783

 
6,705

 
78

 
 
 
 
 
 
 
Condensed Consolidated Statement of Cash Flows
 
 
Three Months Ended March 31, 2018
In millions
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Net earnings (loss)
 
$
730

 
$
725

 
$
5

Deferred income tax provision (benefit), net
 
157

 
171

 
(14
)
Contract assets
 
(22
)
 
—

 
(22
)
Inventories
 
21

 
5

 
16

Accounts payable and accrued liabilities
 
11

 
12

 
(1
)
Other
 
14

 
(2
)
 
16