INDUSTRY SEGMENT INFORMATION (Note)

6 Months Ended

Jun. 30, 2023

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. 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 (losses) 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 (losses) are defined as earnings (loss) from continuing operations before income taxes and equity earnings, but including the impact of less than wholly owned subsidiaries, 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, 2023 and 2022 were as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2023		2022		2023		2022
Industrial Packaging	$	3,884	$	4,491	$	7,967	$	8,897
Global Cellulose Fibers	698		788		1,509		1,498
Corporate and Intersegment Sales	100		110		226		231
Net Sales	$	4,682	$	5,389	$	9,702	$	10,626

Operating profit (loss) by business segment for the three months and six months ended June 30, 2023 and 2022 were as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2023		2022		2023		2022
Industrial Packaging	$	304	$	560	$	626	$	957
Global Cellulose Fibers	30		25		14		(24)
Business Segment Operating Profit (Loss)	$	334	585		$	640	933
Earnings (loss) from continuing operations before income taxes and equity earnings	$	255	$	514	$	476	$	876
Interest expense, net	59		74		121		143
Adjustment for less than wholly owned subsidiaries	—		(1)		—		(1)
Corporate expenses, net	8		27		16		39
Corporate net special items	—		18		—		(28)
Non-operating pension expense (income)	12		(47)		27		(96)
Business Segment Operating Profit (Loss)	$	334	$	585	$	640	$	933