LEASES (Notes)

3 Months Ended

Mar. 31, 2020

Leases of Lessee Disclosure [Text Block]

International Paper leases various real estate, including certain operating facilities, warehouses, office space and land. The Company also leases material handling equipment, vehicles, and certain other equipment. The Company's leases have remaining lease terms of less than one year to 96 years. Total lease cost for the three months ended March 31, 2020 and 2019 was $67 million and $75 million, respectively.

Supplemental Balance Sheet Information Related to Leases



In millions	Classification	March 31, 2020		December 31, 2019
Assets
Operating lease assets	Right-of-use assets	$	422	$	434
Finance lease assets	Plants, properties and equipment, net (a)	100		103
Total leased assets		$	522	$	537
Liabilities
Current
Operating	Other current liabilities	$	132	$	134
Finance	Notes payable and current maturities of long-term debt	12		12
Noncurrent
Operating	Long-term lease obligations	293		304
Finance	Long-term debt	85		88
Total lease liabilities		$	522	$	538

(a)

Finance leases are recorded net of accumulated amortization of $43 million and $40 million as of March 31, 2020 and December 31, 2019.