Recent Accounting Developments Recent Accounting Developments (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Changes and Error Corrections [Abstract]

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 consolidated financial statements were as follows:

Consolidated Statement of Operations
	2018
In millions, except per share amounts	Balances As Reported Under ASC 606		Balances Without Adoption of ASC 606		Impact of Adoption Increase/(Decrease)
Net sales	$	23,306	$	23,274	$	32
Cost of products sold	15,555		15,535		20
Distribution expenses	1,567		1,563		4
Income tax provision (benefit), net	445		443		2
Earnings (loss) from continuing operations	1,672		1,666		6
Net earnings (loss)	2,017		2,011		6
Earnings per share attributable to International Paper Company Shareholders
Basic	$	4.91	$	4.90	$	0.01
Diluted	4.85		4.84		0.01

Consolidated Balance Sheet
	2018
In millions, except per share amounts	Balances As Reported Under ASC 606		Balances Without Adoption of ASC 606		Impact of Adoption Increase/(Decrease)
Contract assets	$	395	$	—	$	395
Inventories	2,241		2,511		(270		)
Other current assets	250		278		(28		)
Other accrued liabilities	1,107		1,088		19
Deferred income taxes	2,600		2,601		(1		)
Retained earnings	7,465		7,386		79

Consolidated Statement of Cash Flows
	2018
In millions, except per share amounts	Balances As Reported Under ASC 606			Balances Without Adoption of ASC 606			Impact of Adoption Increase/(Decrease)
Net earnings (loss)	$	2,017		$	2,011		$	6
Deferred income tax provision (benefit), net	133			159			(26		)
Contract assets	(32		)	—			(32		)
Inventories	(236		)	(256		)	20
Accounts payable and accrued liabilities	151			147			4
Other	28			—			28