LEASES (Note)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

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 one year to 33 years. Total lease cost was $72 million and $67 million for the three months ended March 31, 2021 and 2020.

Supplemental Balance Sheet Information Related to Leases

In millions	Classification	March 31, 2021		December 31, 2020
Assets
Operating lease assets	Right-of-use assets	$	415	$	459
Finance lease assets	Plants, properties and equipment, net (a)	93		95
Total leased assets		$	508	$	554
Liabilities
Current
Operating	Other current liabilities	$	143	$	148
Finance	Notes payable and current maturities of long-term debt	12		13
Noncurrent
Operating	Long-term lease obligations	276		315
Finance	Long-term debt	80		82
Total lease liabilities		$	511	$	558

(a)Finance leases are recorded net of accumulated amortization of $55 million and $53 million as of March 31, 2021 and December 31, 2020, respectively.