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Interim Financial Results (Tables)
 12 Months Ended
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information [Table Text Block]
In millions, except per share amounts and stock prices
1st
Quarter
 
2nd
Quarter
 
3rd
Quarter
 4th Quarter Year
2022
Net sales$5,237   $5,389   $5,402   $5,133   $21,161 
Earnings (loss) from continuing operations before income taxes and equity earnings362 (a)514 (a) 313 (a) 322 (a) 1,511 (a)
Gain (loss) from discontinued operations93 (b)95 (b)64 (b)(489)(b)(237)(b)
Net earnings (loss) attributable to International Paper Company360 (a-c)511 (a-c)951 (a-c)(318)(a-c)1,504 (a-c)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations$0.71 $1.13 $2.48 $0.48 $4.79 
Gain (loss) from discontinued operations0.25 0.26 0.18 (1.38)(0.65)
Net earnings (loss)0.96 1.39 2.66 (0.90)4.14 
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations$0.70 $1.13 $2.46 $0.48 $4.74 
Gain (loss) from discontinued operations0.25 0.25 0.18 (1.38)(0.64)
Net earnings (loss)0.95 1.38 2.64 (0.90)4.10 
Dividends per share of common stock0.4625   0.4625   0.4625   0.4625   1.8500 
2021
Net sales$4,593   $4,770   $4,914   $5,086   $19,363 
Earnings (loss) from continuing operations before income taxes and equity earnings306 (d)252 (d)397 (d)44 (d)999 (d)
Gain (loss) from discontinued operations131 (e)225 (e)527 (e)58 (e)941 (e)
Net earnings (loss) attributable to International Paper Company349 (d-f)432 (d-g)864 (d-f)107 (d-f)1,752 (d-g)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations$0.56 $0.53 $0.86 $0.13 $2.08 
Gain (loss) from discontinued operations0.33 0.57 1.36 0.15 2.42 
Net earnings (loss)0.89 1.10 2.22 0.28 4.50 
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations$0.55 $0.52 $0.86 $0.13 $2.07 
Gain (loss) from discontinued operations0.33 0.57 1.34 0.15 2.40 
Net earnings (loss)0.88 1.09 2.20 0.28 4.47 
Dividends per share of common stock0.5125   0.5125   0.5125   0.4625   2.000 
Note: International Paper's common shares (symbol: IP) are listed on the New York Stock Exchange.Note: Since basic and diluted earnings per share are computed independently for each period and category, full year per share amounts may not equal the sum of the four quarters. In addition, the unaudited selected consolidated financial data are derived from our audited consolidated financial statements and have been revised to reflect discontinued operations.
Quarterly Financial Information (Footnotes) (Details)
Footnotes to Interim Financial Results

(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 
(b) Includes equity earnings from our Ilim equity method investment for the full year. Also includes a charge of $533 million for the three months ended December 31, 2022 related to the impairment of our equity method investment in connection with the announced plan to sell our interest in the Ilim joint venture.
(c) Includes the following tax expenses (benefits):
2022
In millionsQ1Q2Q3Q4
Tax benefit related to timber monetization settlement$— $— $(604)$— 
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 

(d) Includes the following pre-tax charges (gains):
2021
In millionsQ1Q2Q3Q4
Debt extinguishment costs$18 $170 $35 $238 
EMEA Packaging business optimization12 — — — 
Building a Better IP— — — 29 
Legal reserve adjustment— — — (5)
Environmental remediation reserve adjustment— 5 5 — 
Gain on sale of equity investment in Graphic Packaging(74)(130)— — 
EMEA Packaging impairment - Turkey2 (9)— — 
Sylvamo investment - fair value adjustment— — — 32 
Real estate - office impairment— 21 — — 
Other items— 11 9 1 
Non-operating pension expense(52)(51)(50)(47)
Total$(94)$17 $(1)$248 
(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 $5 
Gain on sale of Kwidzyn, Poland mill— — (350)6 
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)$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)
(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.