INDUSTRY SEGMENT INFORMATION (Note)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

International Paper’s business segments, Industrial Packaging and Global Cellulose Fibers, are consistent with the internal structure used to manage these businesses. All segments are differentiated on a common product, common customer basis consistent with the business segmentation generally used in the Forest Products industry. On October 1, 2021, the Company completed the previously announced spin-off of its Printing Papers business into a new, publicly-traded company, Sylvamo, listed on the New York Stock Exchange. Additionally, on August 6, 2021, the Company completed the sale of its Kwidzyn, Poland mill which included the pulp and paper mill in Kwidzyn and supporting functions. As a result of the Sylvamo spin-off and the sale of Kwidzyn, the Company no longer has a Printing Papers segment, and all prior year amounts have been adjusted to reflect the Sylvamo and Kwidzyn businesses as a discontinued operation.

Business segment operating profits are used by International Paper's management to measure the earnings performance of its businesses. Management believes that this measure allows a better understanding of trends in costs, operating efficiencies, prices and volumes. Business segment operating profits are defined as earnings (loss) from continuing operations before income taxes and equity earnings, but including the impact of noncontrolling interests, and excluding interest expense, net, corporate expenses, net, corporate net special items, business net special items and non-operating pension expense.

Net sales by business segment for the three months and six months ended June 30, 2022 and 2021 were as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2022		2021		2022		2021
Industrial Packaging	$	4,491	$	4,030	$	8,897	$	7,960
Global Cellulose Fibers	788		680		1,498		1,275
Corporate and Intersegment Sales	110		60		231		128
Net Sales	$	5,389	$	4,770	$	10,626	$	9,363

Operating profit (loss) by business segment for the three months and six months ended June 30, 2022 and 2021 were as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2022		2021		2022		2021
Industrial Packaging	$	560	$	389	$	957	$	810
Global Cellulose Fibers	25		1		(24)		(80)
Business Segment Operating Profits	$	585	390		$	933	730
Earnings (loss) from continuing operations before income taxes and equity earnings	$	514	$	252	$	876	$	558
Interest expense, net	74		86		143		179
Noncontrolling interests adjustment	(1)		(1)		(1)		(2)
Corporate expenses, net	27		36		39		72
Corporate net special items	18		77		(28)		21
Business net special items	—		(9)		—		5
Non-operating pension expense (income)	(47)		(51)		(96)		(103)
Business Segment Operating Profits	$	585	$	390	$	933	$	730