SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Note)

9 Months Ended

Sep. 30, 2023

Disclosure Text Block Supplement [Abstract]

Supplemental Financial Statement Information [Note Text Block]

Temporary Investments 

Temporary investments with an original maturity of three months or less and money market funds with greater than three month maturities but with the right to redeem without notices are treated as cash equivalents and stated at cost. Temporary investments totaled $1.0 billion and $690 million at September 30, 2023 and December 31, 2022, respectively.

Accounts and Notes Receivable

In millions	September 30, 2023		December 31, 2022
Accounts and notes receivable, net:
Trade (less allowances of $33 in 2023 and $31 in 2022)	$	2,865	$	3,064
Other	213		220
Total	$	3,078	$	3,284

Inventories

In millions	September 30, 2023		December 31, 2022
Raw materials	$	248	$	267
Finished pulp, paper and packaging	965		1,071
Operating supplies	628		516
Other	88		88
Total	$	1,929	$	1,942

Plants, Properties and Equipment  

Accumulated depreciation was $18.9 billion and $18.4 billion at September 30, 2023 and December 31, 2022, respectively. Depreciation expense was $248 million and $250 million for the three months ended September 30, 2023 and 2022, respectively, and $715 million and $756 million for the nine months ended September 30, 2023 and 2022, respectively.

Non-cash additions to plants, properties and equipment included within accounts payable were $79 million and $185 million at September 30, 2023 and December 31, 2022, respectively.

There were no insurance recoveries included within capital spending for the nine months ended September 30, 2023. Insurance recoveries included in capital spending were $26 million for the nine months ended September 30, 2022.

Accounts Payable  

Under a supplier finance program, International Paper agrees to pay a bank the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices. International Paper or the bank may terminate the agreement upon at least 90 days’ notice. The supplier invoices that have been confirmed as valid under the program require payment in full on the due date with no terms exceeding 180 days. The accounts payable balance included $115 million and $122 million of supplier finance program liabilities as of September 30, 2023 and December 31, 2022, respectively.

Interest

Interest payments made during the nine months ended September 30, 2023 and 2022 were $333 million and $273 million, respectively.

Amounts related to interest were as follows: 

	Three Months Ended September 30,				Nine Months Ended September 30,
In millions	2023		2022		2023		2022
Interest expense	$	105	$	150	$	311	$	310
Interest income	47		27		132		44
Capitalized interest costs	5		5		16		13

Asset Retirement Obligations

The Company recorded liabilities in Other Liabilities in the accompanying condensed consolidated balance sheet of $103 million and $105 million related to asset retirement obligations at September 30, 2023 and December 31, 2022, respectively.