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RECENT ACCOUNTING DEVELOPMENTS (Tables)
 6 Months Ended
Jun. 30, 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 second quarter and six months ended June 30, 2017 amounts reported in the accompanying condensed consolidated statement of operations and on full-year amounts for 2017, 2016 and 2015 reported 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
June 30, 2017
In millions
 
Previously Reported
 
Impact of Adoption Increase/(Decrease)
 
As Revised
Cost of products sold
 
$
3,789

 
$
(40
)
 
$
3,749

Selling and administrative expenses
 
399

 
(6
)
 
393

Non-operating pension expense
 
—

 
46

 
46

 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
In millions
 
Previously Reported
 
Impact of Adoption Increase/(Decrease)
 
As Revised
Cost of products sold
 
$
7,458

 
$
(71
)
 
$
7,387

Selling and administrative expenses
 
799

 
(13
)
 
786

Non-operating pension expense
 
—

 
84

 
84

 
 
 
 
 
 
 
 
 
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

 
$
(638
)
 
$
13,419

Selling and administrative expenses
 
1,484

 
(26
)
 
1,458

Non-operating pension expense
 
—

 
664

 
664

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

 
$
(268
)
 
$
14,045

Selling and administrative expenses
 
1,539

 
(43
)
 
1,496

Non-operating pension expense
 
—

 
311

 
311
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
June 30, 2018
In millions, except per share amounts
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Net sales
 
$
5,833

 
$
5,837

 
$
(4
)
Cost of products sold
 
3,922

 
3,930

 
(8
)
Distribution expenses
 
403

 
401

 
2

Income tax provision (benefit), net
 
130

 
130

 
—

Earnings (loss) from continuing operations
 
430

 
428

 
2

Net earnings (loss)
 
407

 
405

 
2

Earnings per share attributable to International Paper Company Shareholders
 
 
 
 
 
 
Basic
 
$
0.98

 
$
0.98

 
$
—

Diluted
 
0.97

 
0.97

 
—

Condensed Consolidated Statement of Operations
 
 
Six Months Ended
June 30, 2018
In millions, except per share amounts
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Net sales
 
$
11,454

 
$
11,437

 
$
17

Cost of products sold
 
7,870

 
7,863

 
7

Distribution expenses
 
769

 
767

 
2

Income tax provision (benefit), net
 
219

 
217

 
2

Earnings (loss) from continuing operations
 
792

 
786

 
6

Net earnings (loss)
 
1,137

 
1,131

 
6

Earnings per share attributable to International Paper Company Shareholders
 
 
 
 
 
 
Basic
 
$
2.74

 
$
2.73

 
$
0.01

Diluted
 
2.71

 
2.70

 
0.01

 
 
 
 
 
 
 
Condensed Consolidated Balance Sheet
 
 
June 30, 2018
In millions, except per share amounts
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Contract assets
 
$
381

 
$
—

 
$
381

Inventories
 
2,050

 
2,308

 
(258
)
Other current assets
 
242

 
250

 
(8
)
Other accrued liabilities
 
1,032

 
1,014

 
18

Deferred income taxes
 
2,502

 
2,484

 
18

Retained earnings
 
6,988

 
6,909

 
79

 
 
 
 
 
 
 
Condensed Consolidated Statement of Cash Flows
 
 
Six Months Ended
June 30, 2018
In millions, except per share amounts
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Net earnings (loss)
 
$
1,137

 
$
1,131

 
$
6

Deferred income tax provision (benefit), net
 
196

 
202

 
(6
)
Contract assets
 
(17
)
 
—

 
(17
)
Inventories
 
(26
)
 
(33
)
 
7

Accounts payable and accrued liabilities
 
142

 
140

 
2

Other
 
19

 
11

 
8