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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net Sales $ 4,866 $ 5,667 $ 10,218 $ 11,310
Costs and Expenses        
Cost of products sold 3,427 3,901 7,173 7,830
Selling and administrative expenses 332 402 750 815
Depreciation, amortization and cost of timber harvested 312 321 635 636
Distribution expenses 365 384 772 773
Taxes other than payroll and income taxes 41 43 85 86
Restructuring and other charges, net 18 0 26 0
Net (gains) losses on sales and impairments of businesses 8 152 352 145
Net (gains) losses on sales of equity method investments 0 0 (33) 0
Interest expense, net 116 122 233 255
Non-operating pension expense (income) (14) 8 (20) 18
Earnings (Loss) Before Income Taxes and Equity Earnings 261 334 245 752
Income tax provision (benefit) 67 128 161 234
Equity earnings (loss), net of taxes 72 80 41 194
Net Earnings (Loss) 266 286 125 712
Less: Net earnings (loss) attributable to noncontrolling interests 0 (6) 0 (4)
Net Earnings (Loss) Attributable to International Paper Company $ 266 $ 292 $ 125 $ 716
Earnings Per Share, Basic [Abstract]        
Basic earnings (loss) per share attributable to International Paper Company Common Shareholders $ 0.67 $ 0.74 $ 0.32 $ 1.80
Earnings Per Share, Diluted [Abstract]        
Diluted earnings (loss) per share attributable to International Paper Company Common Shareholders $ 0.67 $ 0.73 $ 0.32 $ 1.78
Average Shares of Common Stock Outstanding – assuming dilution 393.1 398.2 394.0 401.4