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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net Sales [1] $ 5,402 $ 4,914 $ 16,028 $ 14,277
Costs and Expenses        
Cost of products sold 3,830 3,423 11,475 10,173
Selling and administrative expenses 337 343 978 1,041
Depreciation, amortization and cost of timber harvested 261 280 789 820
Distribution expenses 471 365 1,337 1,042
Taxes other than payroll and income taxes 38 35 110 106
Restructuring and other charges, net 93 39 93 243
Net (gains) losses on sales and impairments of businesses 0 0 0 (7)
Net (gains) losses on sales of equity method investments 0 0 0 (204)
Net (gains) losses on mark to market investments (16) 0 (65) 0
Interest expense, net 123 82 266 261
Non-operating pension expense (income) (48) (50) (144) (153)
Earnings (loss) from continuing operations before income taxes and equity earnings 313 397 1,189 955
Income tax provision (benefit) (575) 59 (384) 193
Equity earnings (loss), net of taxes 63 94 249 247
Earnings (Loss) From Continuing Operations 951 432 1,822 1,009
Discontinued operations, net of taxes 0 432 0 638
Net income (loss) 951 864 1,822 1,647
Less: Net earnings (loss) attributable to noncontrolling interests 0 0 0 2
Net Earnings (Loss) Attributable to International Paper Company $ 951 $ 864 $ 1,822 $ 1,645
Basic Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders        
Basic earnings (loss) per share from continuing operations $ 2.66 $ 1.11 $ 4.97 $ 2.58
Discontinued operations, net of taxes 0 1.11 0 1.63
Earnings Per Share, Basic, Total   2.22 4.97 4.21
Diluted Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders        
Diluted earnings (loss) per share from continuing operations 2.64 1.10 4.92 2.55
Discontinued operations, net of taxes $ 0 1.10 0 1.61
Earnings Per Share, Diluted, Total   $ 2.20 $ 4.92 $ 4.16
Average Shares of Common Stock Outstanding – assuming dilution 360.4 392.6 370.7 395.3
[1] Net sales are attributed to countries based on the location of the seller.