XML 55 R32.htm IDEA: XBRL DOCUMENT v3.22.4
Financial Information By Business Segment And Geographic Area (Note)
12 Months Ended
Dec. 31, 2022
Segment Reporting, Measurement Disclosures [Abstract]  
Financial Information By Business Segment And Geographic Area

International Paper’s business segments, Industrial Packaging and Global Cellulose Fibers are consistent with the internal structure used to manage these businesses. See the Description of Business Segments on pages 31 and 32 in Part II. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations for a description of the types of products and services from which each reportable segment derives its revenues. 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. Both segments are differentiated on a common product, common customer basis consistent with the business segmentation generally used in the Forest Products industry.
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 less than wholly owned subsidiaries, excluding interest expense, net, corporate items, net, corporate net special items, business net special items and non-operating pension expense.
External sales by major product is determined by aggregating sales from each segment based on similar products or services. External sales are defined as those that are made to parties outside International Paper’s consolidated group, whereas sales by segment in the Net Sales table are determined using a management approach and include intersegment sales.

INFORMATION BY BUSINESS SEGMENT

Net Sales
In millions202220212020
Industrial Packaging$17,451 $16,326 $14,900 
Global Cellulose Fibers3,227 2,732 2,393 
Corporate and Intersegment Sales (a)483 305 272 
Net Sales$21,161 $19,363 $17,565 
Operating Profit (Loss)
In millions202220212020
Industrial Packaging$1,742 $1,638 $1,757 
Global Cellulose Fibers106 (3)(218)
Business Segment Operating Profit1,848 1,635 1,539 
Earnings (loss) from continuing operations before income taxes and equity earnings1,511 999 329 
Interest expense, net325 337 446 
Adjustment for less than wholly owned subsidiaries (b)(5)(5)— 
Corporate expenses, net (a)34 134 62 
Corporate net special items99 352 262 
Business net special items76 18 481 
Non-operating pension (income) expense(192)(200)(41)
$1,848 $1,635 $1,539 
Assets
In millions20222021
Industrial Packaging$16,425 $16,247 
Global Cellulose Fibers3,625 3,521 
Corporate and other 3,890 5,475 
Assets$23,940 $25,243 
Capital Spending
In millions202220212020
Industrial Packaging$762 $382 $554 
Global Cellulose Fibers143 83 96 
Subtotal905 465 650 
Corporate and other26 15 13 
Capital Spending$931 $480 $663 
Depreciation, Amortization and Cost of Timber Harvested
In millions202220212020
Industrial Packaging$783 $829 $813 
Global Cellulose Fibers255 265 274 
Corporate2 
Depreciation and Amortization$1,040 $1,097 $1,091 
External Sales By Major Product 
In millions202220212020
Industrial Packaging$17,441 $16,276 $14,851 
Global Cellulose Fibers3,219 2,730 2,394 
Other (c)501 357 320 
Net Sales$21,161 $19,363 $17,565 
INFORMATION BY GEOGRAPHIC AREA

Net Sales (d)
In millions202220212020
United States (e)$18,482 $16,769 $15,178 
EMEA1,693 1,611 1,395 
Pacific Rim and Asia123 207 203 
Americas, other than U.S.863 776 789 
Net Sales$21,161 $19,363 $17,565 
Long-Lived Assets (f)
In millions20222021
United States$9,333 $9,317 
EMEA738 745 
Americas, other than U.S.378 397 
Long-Lived Assets$10,449 $10,459 
(a)Includes sales of $44 million in 2021 and $56 million in 2020 and operating profit (losses) of $9 million in 2021 and $1 million in 2020, from previously divested businesses. There were no sales or operating profit (losses) from previously divested businesses in 2022.
(b)Operating profits for industry segments include each segment’s percentage share of the profits of subsidiaries included in that segment that are less than wholly-owned. The pre-tax earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings.
(c)Includes $44 million in 2021 and $56 million in 2020 from previously divested businesses.
(d)Net sales are attributed to countries based on the location of the seller.
(e)Export sales to unaffiliated customers were $3.2 billion in 2022, $2.6 billion in 2021 and $2.4 billion in 2020.
(f)Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net.