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Consolidated Statement Of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
NET SALES [1] $ 23,306 $ 21,743 $ 19,495
COSTS AND EXPENSES      
Cost of products sold 15,555 14,802 13,419
Selling and administrative expenses 1,723 1,621 1,458
Depreciation, amortization and cost of timber harvested [2],[3] 1,328 1,343 1,124
Distribution expenses 1,567 1,434 1,237
Taxes other than payroll and income taxes 171 169 154
Restructuring and other charges, net 29 67 54
Net (gains) losses on sales and impairments of businesses 122 9 70
Litigation settlement 0 354 0
Net bargain purchase gain on acquisition of business 0 (6) 0
Interest expense, net 536 572 520
Non-operating pension expense 494 530 664
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY EARNINGS (LOSSES) 1,781 [4] 848 [5] 795
Income tax provision (benefit) 445 (1,085) 193
Equity earnings (loss), net of taxes 336 177 198
EARNINGS (LOSS) FROM CONTINUING OPERATIONS 1,672 2,110 800
Discontinued operations, net of taxes 345 [6] 34 [7] 102
NET EARNINGS (LOSS) 2,017 2,144 902
Less: Net earnings (loss) attributable to noncontrolling interests 5 0 (2)
Net earnings (loss) $ 2,012 [4],[6],[8] $ 2,144 [5],[7],[9] $ 904
BASIC EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS      
Earnings (loss) from continuing operations $ 4.07 [4] $ 5.11 [5] $ 1.95
Discontinued operations, net of taxes 0.84 [6] 0.08 [7] 0.25
Net earnings (loss) 4.91 [4],[6],[8] 5.19 [5],[7],[9] 2.20
DILUTED EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS      
Earnings (loss) from continuing operations 4.02 [4] 5.05 [5] 1.93
Discontinued operations, net of taxes 0.83 [6] 0.08 [7] 0.25
Net earnings (loss) $ 4.85 [4],[6],[8] $ 5.13 [5],[7],[9] $ 2.18
AMOUNTS ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS      
Earnings (loss) from continuing operations $ 1,667 $ 2,110 $ 802
Discontinued operations, net of taxes 345 [6] 34 [7] 102
Net earnings (loss) $ 2,012 [4],[6],[8] $ 2,144 [5],[7],[9] $ 904
[1] Net sales are attributed to countries based on the location of the seller.
[2] Excludes accelerated depreciation related to the closure and/or repurposing of mills in 2016.
[3] Prior years recast to reflect current methodology for allocation of Corporate depreciation and amortization to the business segments. There is no change to segment operating profit.
[4] Includes the following pre-tax charges (gains): 2018In millions Q1 Q2 Q3 Q4Smurfit-Kappa acquisition proposal costs $— $12 $— $—Legal settlement 9 — — —Litigation settlement recovery — — — (5)Environmental remediation reserve adjustment — — 9 —EMEA Packaging optimization 22 26 — (1)Abandoned property removal 9 9 6 8Riverdale mill conversion costs — — 5 4Brazil Packaging impairment — — 122 —Debt extinguishment costs — — — 10Gain on sale of investment in Liaison Technologies — — — (31)Non-operating pension expense 4 36 25 429Total $44 $83 $167 $414
[5] Includes the following pre-tax charges (gains): 2017In millions Q1 Q2 Q3 Q4Gain on sale of investment in ArborGen $— $(14) $— $—Costs associated with the pulp business acquired in 2016 4 5 6 18Amortization of Weyerhaeuser inventory fair value step-up 14 — — —Holmen bargain purchase gain (6) — — —Abandoned property removal 2 5 7 6Kleen Products settlement — 354 — —Asia Foodservice sale — 9 — —Brazil Packaging wood supply accelerated amortization — — 10 —Debt extinguishment costs — — — 83Interest income on income tax refund claims — (4) — (1)Other items — (2) — —Non-operating pension expense 31 34 33 386Total $45 $387 $56 $492
[6] Includes the following pre-tax charges (gains): 2018In millions Q1 Q2 Q3 Q4North American Consumer Packaging transaction costs $23 $2 $— $—North American Consumer Packaging gain on transfer (516) 28 — —Total $(493) $30 $— $—
[7] ncludes the operating earnings of the North American Consumer Packaging business for the full year. Also includes the following pre-tax charges (gains): 2017In millions Q1 Q2 Q3 Q4North American Consumer Packaging transaction costs $— $— $— $17Non-operating pension expense — — — 45Total $— $— $— $62
[8] Includes the following tax expenses (benefits): 2018In millions Q1 Q2 Q3 Q4State income tax legislative changes $— $9 $— $—Tax benefit of Tax Cuts and Jobs Act — — (36) —International investment restructuring — — — 19Foreign tax audits — — — 25Tax impact of other special items (9) (13) (46) 3Tax impact of non-operating pension expense (1) (9) (6) (107)Total $(10) $(13) $(88) $(60)
[9] Includes the following tax expenses (benefits): 2017In millions Q1 Q2 Q3 Q4International legal entity restructuring $15 $— $19 $—Income tax refund claims — (85) — (28)Cash pension contribution — 38 — —International tax law change — — — 9Tax benefit of Tax Cuts and Jobs Act — — — (1,222)Tax impact of other special items (8) (137) (8) (41)Tax impact of non-operating pension expense (12) (13) (13) (148)Total $(5) $(197) $(2) $(1,430)