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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Net Sales $ 5,833 $ 5,383 $ 11,454 $ 10,515
Costs and Expenses        
Cost of products sold 3,922 3,749 7,870 7,387
Selling and administrative expenses 451 393 872 786
Depreciation, amortization and cost of timber harvested 330 334 655 654
Distribution expenses 403 359 769 707
Taxes other than payroll and income taxes 42 41 86 83
Restructuring and other charges 26 (16) 48 (16)
Net (gains) losses on sales and impairments of businesses 0 9 0 9
Litigation settlement 0 354 0 354
Net bargain purchase gain on acquisition of business 0 0 0 (6)
Interest expense, net 133 137 268 279
Non-operating pension expense 36 46 40 84
Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings 490 (23) 846 194
Income tax provision (benefit) 130 (87) 219 (14)
Equity earnings (loss), net of taxes 70 20 165 68
Earnings (Loss) From Continuing Operations 430 84 792 276
Discontinued operations, net of taxes (23) (4) 345 13
Net Earnings (Loss) 407 80 1,137 289
Less: Net earnings (loss) attributable to noncontrolling interests 2 0 3 0
Net Earnings (Loss) Attributable to International Paper Company $ 405 $ 80 $ 1,134 $ 289
Basic Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders        
Earnings (loss) from continuing operations $ 1.03 $ 0.20 $ 1.91 $ 0.67
Discontinued operations, net of taxes (0.05) (0.01) 0.83 0.03
Net earnings (loss) 0.98 0.19 2.74 0.70
Diluted Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders        
Earnings (loss) from continuing operations 1.02 0.20 1.88 0.66
Discontinued operations, net of taxes (0.05) (0.01) 0.83 0.03
Net earnings (loss) $ 0.97 $ 0.19 $ 2.71 $ 0.69
Average Shares of Common Stock Outstanding – assuming dilution 417.7 416.4 418.8 416.7
Cash Dividends Per Common Share $ 0.4750 $ 0.4625 $ 0.9500 $ 0.9250
Amounts Attributable to International Paper Company Common Shareholders        
Earnings (loss) from continuing operations $ 428 $ 84 $ 789 $ 276
Discontinued operations, net of taxes (23) (4) 345 13
Net Earnings (Loss) Attributable to International Paper Company $ 405 $ 80 $ 1,134 $ 289