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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]  
Net Periodic Pension Expense For Qualified And Nonqualified U.S. Defined Benefit Plans [Table Text Block]
Net periodic pension expense for qualified and nonqualified U.S. and non-U.S. defined benefit plans comprised the following: 
  
2019
2018
2017
In millions
U.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
Service cost
$
68

$
5

$
153

$
5

$
160

$
4

Interest cost
440

8

467

8

536

9

Expected return on plan assets
(631
)
(10
)
(765
)
(11
)
(774
)
(11
)
Actuarial loss (gain)
200

2

337

2

339

2

Amortization of prior service cost
16

—

16

—

28

—

Curtailment loss (gain) (a)
—

(1
)
—

—

23

—

Settlement loss
—

2

424

—

383

1

Special termination benefits (a)
—

—

—

—

22

—

Net periodic pension expense
$
93

$
6

$
632

$
4

$
717

$
5



(a) 2017 amounts were recorded in Discontinued operations in the consolidated statement of operations.
Pension Allocations By Type Of Fund And Target Allocations [Table Text Block]
International Paper’s U.S. pension allocations by type of fund at December 31, 2019 and 2018 and target allocations were as follows:
Asset Class
2019
2018
Target
Allocations
Equity accounts
37
%
32
%
32% - 43%
Fixed income accounts
50
%
51
%
44% - 56%
Real estate accounts
8
%
11
%
5% - 11%
Other
5
%
6
%
3% - 8%
Total
100
%
100
%
 
Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of International Paper’s pension plan assets at December 31, 2019 and 2018 by asset class are shown below. Hedge funds disclosed in the following table are allocated to fixed income accounts for target allocation purposes. Following our adoption of ASU 2018-09 "Codification Improvements", we have evaluated certain investments and classified them as Level 2 (previously Level 0). Prior year leveling disclosures have been updated for comparability as a result of our retrospective adoption of this disclosure guidance.
Fair Value Measurement at December 31, 2019
Asset Class
Total
Quoted
Prices
in
Active
Markets
For
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
In millions
  
  
  
  
Equities – domestic
$
1,613

$
965

$
648

$
—

Equities – international
2,181

1,599

582

—

Corporate bonds
1,845

—

1,845

—

Government securities
2,659

—

2,659

—

Mortgage backed securities
1

—

1

—

Other fixed income
(647
)
—

(661
)
14

Derivatives
(19
)
—

—

(19
)
Cash and cash equivalents
336

336

—

—

Other investments:
 
 
 
 
  Hedge funds
902

 
 
 
  Private equity
522

 
 
 
  Real estate funds
772

 
 
 
Total Investments
$
10,165

$
2,900

$
5,074

$
(5
)


Fair Value Measurement at December 31, 2018
Asset Class
Total
Quoted
Prices in
Active
Markets
For
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
In millions
  
  
  
  
Equities – domestic
$
1,200

$
685

$
515

$
—

Equities – international
1,583

1,141

442

—

Corporate bonds
1,493

—

1,493

—

Government securities
2,262

—

2,262

—

Other fixed income
(543
)
—

(556
)
13

Derivatives
98

—

—

98

Cash and cash equivalents
294

294

—

—

Other investments:
 
 
 
 
  Hedge funds
886

 
 
 
  Private equity
518

 
 
 
  Real estate funds
944

 
 
 
Total Investments
$
8,735

$
2,120

$
4,156

$
111
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block]
Other Investments at December 31, 2018
Investment
Fair Value
Unfunded Commitments
Redemption Frequency
Remediation Notice Period
In millions
  
  
  
  
Hedge funds
886

—

Daily to annually
1 - 100 days
Private equity
518

310

(a)
None
Real estate funds
944

109

Quarterly
45 - 60 days
Total
$
2,348

$
419





(a) A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.










Other Investments at December 31, 2019
Investment
Fair Value
Unfunded Commitments
Redemption Frequency
Remediation Notice Period
In millions
 
 
 
 
Hedge funds
902

—

Daily to annually
1 - 100 days
Private equity
522

198

(a)
None
Real estate funds
772

147

Quarterly
45 - 60 days
Total
$
2,196

$
345

 
 

(a) A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Table Text Block] he following is a reconciliation of the assets that are classified using significant unobservable inputs (Level 3) at December 31, 2019.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
In millions
Mortgage backed securities
Other
fixed
income
Derivatives
Total
Beginning balance at December 31, 2017
$
1

$
12

$
16

$
29

Actual return on plan assets:
 
 
 
 
Relating to assets still held at the reporting date
—

1

75

76

Relating to assets sold during the period
—

—

(19
)
(19
)
Purchases, sales and settlements
(1
)
—

26

25

Transfers in and/or out of Level 3
—

—

—

—

Ending balance at December 31, 2018
$
—

$
13

$
98

$
111

Actual return on plan assets:
 
 
 
 
Relating to assets still held at the reporting date
—

1

(127
)
(126
)
Relating to assets sold during the period
—

—

314

314

Purchases, sales and settlements
—

—

(304
)
(304
)
Transfers in and/or out of Level 3
—

—

—

—

Ending balance at December 31, 2019
$
—

$
14

$
(19
)
$
(5
)
Retirement Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]
The following table shows the changes in the benefit obligation and plan assets for 2019 and 2018, and the plans’ funded status.
  
2019
2018
In millions
U.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
Change in projected benefit obligation:
 
 
 
 
Benefit obligation, January 1
$
10,467

$
215

$
13,264

$
247

Service cost
68

5

153

5

Interest cost
440

8

467

8

Curtailment
—

(1
)
—

—

Settlements
—

(6
)
(1,653
)
(2
)
Actuarial loss (gain)
1,230

33

(1,089
)
(17
)
Acquisitions
—

3

—

—

Divestitures
—

(1
)
—

—

Plan amendments
40

—

2

—

Benefits paid
(546
)
(8
)
(677
)
(9
)
Effect of foreign currency exchange rate movements
—

5

—

(17
)
Benefit obligation, December 31
$
11,699

$
253

$
10,467

$
215

Change in plan assets:
 
 
 
 
Fair value of plan assets, January 1
$
8,735

$
161

$
11,368

$
176

Actual return on plan assets
1,950

23

(332
)
(2
)
Company contributions
26

10

29

10

Benefits paid
(546
)
(8
)
(677
)
(9
)
Settlements
—

(6
)
(1,653
)
(2
)
Effect of foreign currency exchange rate movements
—

3

—

(12
)
Fair value of plan assets, December 31
$
10,165

$
183

$
8,735

$
161

Funded status, December 31
$
(1,534
)
$
(70
)
$
(1,732
)
$
(54
)
Amounts recognized in the consolidated balance sheet:
 
 
 
 
Non-current asset
$
—

$
6

$
—

$
5

Current liability
(28
)
(3
)
(27
)
(2
)
Non-current liability
(1,506
)
(73
)
(1,705
)
(57
)
 
$
(1,534
)
$
(70
)
$
(1,732
)
$
(54
)
Schedule Of Amounts In Accumulated Other Comprehensive Income [Table Text Block]
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):
 
 
 
 
Prior service cost (credit)
$
98

$
(1
)
$
74

$
(1
)
Net actuarial loss
2,851

75

3,140

57

 
$
2,949

$
74

$
3,214

$
56
Pension Benefit Adjustments Recognized In Other Comprehensive (Loss) Income [Table Text Block]
The components of the $(265) million and $18 million related to U.S. plans and non-U.S. plans, respectively, in the amounts recognized in OCI during 2019 consisted of: 
In millions
U.S.
Plans
Non-
U.S.
Plans
Current year actuarial (gain) loss
$
(89
)
$
19

Amortization of actuarial loss
(200
)
(2
)
Current year prior service cost
40

—

Amortization of prior service cost
(16
)
—

Settlements/curtailments
—

(1
)
Effect of foreign currency exchange rate movements
—

2

 
$
(265
)
$
18
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table summarizes information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2019 and 2018: 
  
2019
2018
In millions
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Projected benefit obligation
$
11,699

$
225

$
10,467

$
187

Accumulated benefit obligation
11,672

208

10,440

175

Fair value of plan assets
10,165

149

8,735

128
Defined Benefit Plan, Assumptions [Table Text Block]




Major actuarial assumptions used in determining the benefit obligations and net periodic pension cost for our defined benefit plans are presented in the following table:
  
2019
2018
2017
  
U.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
Actuarial assumptions used to determine benefit obligations as of December 31:
 
 
 
 
 
 
Discount rate
3.40
%
2.70
%
4.30
%
3.97
%
3.60
%
3.59
%
Rate of compensation increase
2.25
%
3.62
%
2.25
%
4.05
%
3.75
%
4.06
%
Actuarial assumptions used to determine net periodic pension cost for years ended December 31:
 
 
 
 
 
 
Discount rate (a)
4.30
%
3.97
%
3.80
%
3.59
%
4.03
%
3.88
%
Expected long-term rate of return on plan assets
7.25
%
6.20
%
7.50
%
6.52
%
7.50
%
6.73
%
Rate of compensation increase
2.25
%
4.05
%
3.38
%
4.06
%
3.75
%
4.20
%
 
(a) Represents the weighted average rate for the U.S. qualified plans in 2018 and 2017 due to the remeasurements
Effect Of A 25 Basis Point Decrease On Net Pension Expense [Table Text Block]
The following illustrates the effect on pension expense for 2020 of a 25 basis point decrease in the above assumptions: 
In millions
2020
Expense (Income):
 
Discount rate
$
31

Expected long-term rate of return on plan assets
24
Projected Future Pension Benefit Payments, Excluding Any Termination Benefits [Table Text Block]
At December 31, 2019, projected future pension benefit payments, excluding any termination benefits, were as follows: 
In millions
  
2020
$
569

2021
579

2022
593

2023
607

2024
619

2025-2029
3,217