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Consolidated Statement Of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
NET SALES [1] $ 21,161 $ 19,363 $ 17,565
COSTS AND EXPENSES      
Cost of products sold 15,143 13,832 12,339
Selling and administrative expenses 1,293 1,385 1,353
Depreciation, amortization and cost of timber harvested 1,040 1,097 1,091
Distribution expenses 1,783 1,444 1,287
Taxes other than payroll and income taxes 148 139 136
Restructuring and other charges, net 89 509 195
Net (gains) losses on sales and impairments of businesses 76 (7) 465
Net (gains) losses on sales of equity method investments 10 (204) (35)
Net (gains) losses on mark to market investments (65) 32 0
Interest expense, net 325 337 446
Non-operating pension (income) expense (192) (200) (41)
Earnings (loss) from continuing operations before income taxes and equity earnings 1,511 [2] 999 [3] 329
Income tax provision (benefit) (236) 188 176
Equity earnings (loss), net of taxes (6) 2 29
EARNINGS (LOSS) FROM CONTINUING OPERATIONS 1,741 813 182
Discontinued operations, net of taxes (237) [4] 941 [5] 300
Net income 1,504 1,754 482
Less: Net earnings (loss) attributable to noncontrolling interests 0 2 0
NET EARNINGS (LOSS) ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY $ 1,504 [2],[4],[6] $ 1,752 [3],[5],[7],[8] $ 482
BASIC EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS      
Earnings (loss) from continuing operations $ 4.79 $ 2.08 $ 0.46
Discontinued operations, net of taxes (0.65) 2.42 0.77
Net earnings (loss) 4.14 4.50 1.23
DILUTED EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS      
Earnings (loss) from continuing operations 4.74 2.07 0.46
Discontinued operations, net of taxes (0.64) 2.40 0.76
Net earnings (loss) $ 4.10 $ 4.47 $ 1.22
[1] Net sales are attributed to countries based on the location of the seller.
[2]
(a) Includes the following pre-tax charges (gains):
2022
In millionsQ1Q2Q3Q4
Debt extinguishment costs$ $ $93 $ 
EMEA Packaging goodwill impairment   76 
Foreign currency cumulative translation loss related to sale of equity method investment   10 
Timber monetization settlement interest  55 3 
Litigation reserve adjustments  (15)11 
Environmental remediation reserve adjustment 15  48 
Sylvamo investment - fair value adjustment(46)(3)(16) 
Other items 6  (4)
Non-operating pension expense(49)(47)(48)(48)
Total$(95)$(29)$69 $96 
[3]
(d) Includes the following pre-tax charges (gains):
2021
In millionsQ1Q2Q3Q4
Debt extinguishment costs$18 $170 $35 $238 
EMEA Packaging business optimization12 — — — 
Building a Better IP— — — 29 
Legal reserve adjustment— — — (5)
Environmental remediation reserve adjustment— — 
Gain on sale of equity investment in Graphic Packaging(74)(130)— — 
EMEA Packaging impairment - Turkey(9)— — 
Sylvamo investment - fair value adjustment— — — 32 
Real estate - office impairment— 21 — — 
Other items— 11 
Non-operating pension expense(52)(51)(50)(47)
Total$(94)$17 $(1)$248 
[4] (b) Includes equity earnings from our Ilim equity method investment for the full year. Also includes a charge of $533 million for the three months ended December 31, 2022 related to the impairment of our equity method investment in connection with the announced plan to sell our interest in the Ilim joint venture.
[5]
(e) Includes the operating earnings of the Printing Papers business and equity earnings from our Ilim equity method investment for the full year. Also includes the following charges (gains):

2021
In millionsQ1Q2Q3Q4
Printing Papers spin-off expenses$20 $20 $47 $
Gain on sale of Kwidzyn, Poland mill— — (350)
Gain on sale of La Mirada, CA distribution center— — (65)— 
Foreign value-added tax credit— (47)10 — 
Foreign and state taxes related to spin-off of Printing Papers business— — 27 (3)
Non-operating pension expense(1)(1)— — 
Total$19 $(28)$(331)$
[6]
(c) Includes the following tax expenses (benefits):
2022
In millionsQ1Q2Q3Q4
Tax benefit related to timber monetization settlement$ $ $(604)$ 
Tax benefit related to exchange of Sylvamo shares (31)(35) 
Tax impact of other special items11 (4)(29)(15)
Foreign deferred tax valuation allowance   45 
Tax impact of non-operating pension expense12 12 12 12 
Total$23 $(23)$(656)$42 
[7] (g) Includes the allocation of income to noncontrolling interest of $1 million for the three months ended June 30, 2021 related to the gain on the sale of our EMEA Packaging business in Turkey.
[8]
(f) Includes the following tax expenses (benefits):

2021
In millionsQ1Q2Q3Q4
Tax impact of other special items$12 $(14)$(12)$(73)
Tax impact of non-operating pension expense13 13 12 11 
Total$25 $(1)$— $(62)