Interim Financial Results Interim Financial Results Footnotes (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Table Text Block]



In millions, except per share amounts and stock prices	1st Quarter			2nd Quarter				3rd Quarter			4th Quarter				Year
2018
Net sales	$	5,621		$	5,833			$	5,901		$	5,951			$	23,306
Earnings (loss) from continuing operations before income taxes and equity earnings	356		(a)	490			(a)	553		(a)	382			(a)	1,781		(a)
Gain (loss) from discontinued operations	368		(b)	(23		)	(b)	—		(b)	—			(b)	345		(b)
Net earnings (loss) attributable to International Paper Company	729		(a-c)	405			(a-c)	562		(a-c)	316			(a-c)	2,012		(a-c)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations	$	0.87		$	1.03			$	1.38		$	0.79			$	4.07
Gain (loss) from discontinued operations	0.89			(0.05		)		—			—				0.84
Net earnings (loss)	1.76			0.98				1.38			0.79				4.91
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations	0.86			1.02				1.37			0.78				4.02
Gain (loss) from discontinued operations	0.88			(0.05		)		—			—				0.83
Net earnings (loss)	1.74			0.97				1.37			0.78				4.85
Dividends per share of common stock	0.4750			0.4750				0.4750			0.5000				1.9250
2017
Net sales	$	5,132		$	5,383			$	5,517		$	5,711			$	21,743
Earnings (loss) from continuing operations before income taxes and equity earnings	217		(d)	(23		)	(d)	457		(d)	197			(d)	848		(d)
Gain (loss) from discontinued operations	17		(e)	(4		)	(e)	29		(e)	(8		)	(e)	34		(e)
Net earnings (loss) attributable to International Paper Company	209		(d-f)	80			(d-f)	395		(d-f)	1,460			(d-f)	2,144		(d-f)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations	$	0.47		$	0.20			$	0.89		$	3.56			$	5.11
Gain (loss) from discontinued operations	0.04			(0.01		)		0.07			(0.02		)		0.08
Net earnings (loss)	0.51			0.19				0.96			3.54				5.19
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations	0.46			0.20				0.88			3.52				5.05
Gain (loss) from discontinued operations	0.04			(0.01		)		0.07			(0.02		)		0.08
Net earnings (loss)	0.50			0.19				0.95			3.50				5.13
Dividends per share of common stock	0.4625			0.4625				0.4625			0.4750				1.8625

Note: International Paper's common shares (symbol: IP) are listed on the New York Stock Exchange.

Note: Since basic and diluted earnings per share are computed independently for each period and category, full year per share amounts may not equal the sum of the four quarters.

Interim Financial Results Footnotes [Table Text Block]

Footnotes to Interim Financial Results


(a)	Includes the following pre-tax charges (gains):



	2018
In millions	Q1		Q2		Q3		Q4
Smurfit-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		8
Riverdale mill conversion costs	—		—		5		4
Brazil Packaging impairment	—		—		122		—
Debt extinguishment costs	—		—		—		10
Gain on sale of investment in Liaison Technologies	—		—		—		(31		)
Non-operating pension expense	4		36		25		429
Total	$	44	$	83	$	167	$	414

(b) Includes the following pre-tax charges (gains):



	2018
In millions	Q1			Q2		Q3		Q4
North American Consumer Packaging transaction costs	$	23		$	2	$	—	$	—
North American Consumer Packaging gain on transfer	(516		)	28		—		—
Total	$	(493	)	$	30	$	—	$	—



	2018
In millions	Q1			Q2			Q3			Q4
State income tax legislative changes	$	—		$	9		$	—		$	—
Tax benefit of Tax Cuts and Jobs Act	—			—			(36		)	—
International investment restructuring	—			—			—			19
Foreign tax audits	—			—			—			25
Tax impact of other special items	(9		)	(13		)	(46		)	3
Tax impact of non-operating pension expense	(1		)	(9		)	(6		)	(107		)
Total	$	(10	)	$	(13	)	$	(88	)	$	(60	)

(d) Includes the following pre-tax charges (gains):



	2017
In millions	Q1			Q2			Q3		Q4
Gain on sale of investment in ArborGen	$	—		$	(14	)	$	—	$	—
Costs associated with the pulp business acquired in 2016	4			5			6		18
Amortization of Weyerhaeuser inventory fair value step-up	14			—			—		—
Holmen bargain purchase gain	(6		)	—			—		—
Abandoned property removal	2			5			7		6
Kleen Products settlement	—			354			—		—
Asia Foodservice sale	—			9			—		—
Brazil Packaging wood supply accelerated amortization	—			—			10		—
Debt extinguishment costs	—			—			—		83
Interest income on income tax refund claims	—			(4		)	—		(1		)
Other items	—			(2		)	—		—
Non-operating pension expense	31			34			33		386
Total	$	45		$	387		$	56	$	492

(e) Includes the operating earnings of the North American Consumer Packaging business for the full year. Also includes the following pre-tax charges (gains):



	2017
In millions	Q1		Q2		Q3		Q4
North American Consumer Packaging transaction costs	$	—	$	—	$	—	$	17
Non-operating pension expense	—		—		—		45
Total	$	—	$	—	$	—	$	62

(f) Includes the following tax expenses (benefits):



	2017
In millions	Q1			Q2			Q3			Q4
International legal entity restructuring	$	15		$	—		$	19		$	—
Income tax refund claims	—			(85		)	—			(28		)
Cash pension contribution	—			38			—			—
International tax law change	—			—			—			9
Tax 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	)