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Retirement Plans (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| Defined Benefit Plan Disclosure [Line Items] |
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| Net Periodic Pension Expense For Qualified And Nonqualified U.S. Defined Benefit Plans [Table Text Block] |
Net periodic pension expense for qualified and nonqualified U.S. and non-U.S. defined benefit plans comprised the following: | | | | | | | | | | | | | | | | | | | | | | 2013 |
| | 2012 |
| | 2011 |
| In millions | U.S.
Plans |
| Non-
U.S.
Plans |
| U.S.
Plans |
| Non-
U.S.
Plans |
| U.S.
Plans |
| Non-
U.S.
Plans |
| Service cost | $ | 188 |
| $ | 4 |
| $ | 152 |
| $ | 3 |
| $ | 121 |
| $ | 2 |
| Interest cost | 576 |
| 11 |
| 604 |
| 12 |
| 544 |
| 12 |
| Expected return on plan assets | (738 | ) | (11 | ) | (753 | ) | (12 | ) | (713 | ) | (12 | ) | Actuarial loss / (gain) | 485 |
| 1 |
| 307 |
| — |
| 212 |
| — |
| Amortization of prior service cost | 34 |
| — |
| 32 |
| — |
| 31 |
| — |
| Settlement gain | — |
| — |
| — |
| — |
| — |
| (1 | ) | Net periodic pension expense | $ | 545 |
| $ | 5 |
| $ | 342 |
| $ | 3 |
| $ | 195 |
| $ | 1 |
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| Pension Allocations By Type Of Fund And Target Allocations [Table Text Block] |
International Paper’s U.S. pension allocations by type of fund at December 31, and target allocations were as follows: | | | | | | | Asset Class | 2013 |
| 2012 |
| Target
Allocations | Equity accounts | 49 | % | 41 | % | 42% - 53% | Fixed income accounts | 32 | % | 38 | % | 30% - 40% | Real estate accounts | 10 | % | 10 | % | 6% - 12% | Other | 9 | % | 11 | % | 3% - 15% | Total | 100 | % | 100 | % | |
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| Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Table Text Block] |
he fair value measurements using significant unobservable inputs (Level 3) at December 31, 2013 were as follows:
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
| | | | | | | | | | | | | | | | | | | | | | | In millions | Equities-
Domestic |
| Other
Fixed
Income |
| Hedge
Funds |
| Private
Equity |
| Real
Estate |
| Derivatives |
| Total |
| Beginning balance at December 31, 2012 | $ | 3 |
| $ | 8 |
| $ | 492 |
| $ | 503 |
| $ | 1,037 |
| $ | 354 |
| $ | 2,397 |
| Actual return on plan assets: | | | | | | | | Relating to assets still held at the reporting date | (1 | ) | 1 |
| 11 |
| 41 |
| 62 |
| (20 | ) | 94 |
| Relating to assets sold during the period | 2 |
| — |
| 47 |
| 1 |
| 32 |
| 137 |
| 219 |
| Purchases, sales and settlements | (3 | ) | — |
| 281 |
| (61 | ) | (93 | ) | (158 | ) | (34 | ) | Transfers in and/or out of Level 3 | — |
| 1 |
| — |
| — |
| — |
| — |
| 1 |
| Ending balance at December 31, 2013 | $ | 1 |
| $ | 10 |
| $ | 831 |
| $ | 484 |
| $ | 1,038 |
| $ | 313 |
| $ | 2,677 |
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Retirement Plans [Member]
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| Defined Benefit Plan Disclosure [Line Items] |
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| Schedule Of Net Funded Status [Table Text Block] |
| | | | | | | | | | | | | | | 2013 | | 2012 | | In millions | U.S.
Plans |
| Non-
U.S.
Plans |
| U.S.
Plans |
| Non-
U.S.
Plans |
| Change in projected benefit obligation: | | | | | Benefit obligation, January 1 | $ | 14,201 |
| $ | 223 |
| $ | 10,555 |
| $ | 183 |
| Service cost | 188 |
| 4 |
| 152 |
| 3 |
| Interest cost | 576 |
| 11 |
| 604 |
| 12 |
| Curtailments | (14 | ) | — |
| — |
| — |
| Settlements | (5 | ) | (4 | ) | — |
| (3 | ) | Actuarial loss (gain) | (1,309 | ) | — |
| 1,923 |
| 30 |
| Acquisitions | — |
| 3 |
| 1,749 |
| 3 |
| Plan amendments | — |
| — |
| 20 |
| — |
| Special termination benefits | 8 |
| — |
| — |
| — |
| Benefits paid | (742 | ) | (8 | ) | (802 | ) | (8 | ) | Effect of foreign currency exchange rate movements | — |
| (1 | ) | — |
| 3 |
| Benefit obligation, December 31 | $ | 12,903 |
| $ | 228 |
| $ | 14,201 |
| $ | 223 |
| Change in plan assets: | | | | | Fair value of plan assets | $ | 10,111 |
| $ | 171 |
| $ | 8,185 |
| $ | 155 |
| Actual return on plan assets | 1,283 |
| 15 |
| 1,183 |
| 18 |
| Company contributions | 59 |
| 8 |
| 139 |
| 8 |
| Benefits paid | (742 | ) | (8 | ) | (802 | ) | (8 | ) | Settlements | (5 | ) | (4 | ) | — |
| (3 | ) | Acquisitions | — |
| — |
| 1,406 |
| — |
| Effect of foreign currency exchange rate movements | — |
| (1 | ) | — |
| 1 |
| Fair value of plan assets, December 31 | $ | 10,706 |
| $ | 181 |
| $ | 10,111 |
| $ | 171 |
| Funded status, December 31 | $ | (2,197 | ) | $ | (47 | ) | $ | (4,090 | ) | $ | (52 | ) | Amounts recognized in the consolidated balance sheet: | | | | | Non-current asset | $ | — |
| $ | 9 |
| $ | — |
| $ | 4 |
| Current liability | (46 | ) | (2 | ) | (32 | ) | (2 | ) | Non-current liability | (2,151 | ) | (54 | ) | (4,058 | ) | (54 | ) | | $ | (2,197 | ) | $ | (47 | ) | $ | (4,090 | ) | $ | (52 | ) |
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| Schedule Of Amounts In Accumulated Other Comprehensive Income [Table Text Block] |
| | | | | | | | | | | | | | Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): | | | | | Prior service cost | $ | 107 |
| $ | — |
| $ | 144 |
| $ | — |
| Net actuarial loss | 3,285 |
| 29 |
| 5,640 |
| 34 |
| | $ | 3,392 |
| $ | 29 |
| $ | 5,784 |
| $ | 34 |
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| Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] |
The following table summarizes information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2013 and 2012: | | | | | | | | | | | | | | | 2013 | | 2012 | | In millions | U.S.
Plans |
| Non-U.S.
Plans |
| U.S.
Plans |
| Non-U.S.
Plans |
| Projected benefit obligation | $ | 12,903 |
| $ | 181 |
| $ | 14,201 |
| $ | 200 |
| Accumulated benefit obligation | 12,560 |
| 168 |
| 13,772 |
| 188 |
| Fair value of plan assets | 10,706 |
| 125 |
| 10,111 |
| 143 |
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| Pension Benefit Adjustments Recognized In Other Comprehensive (Loss) Income [Table Text Block] |
The components of the $2.4 billion and $5 million decrease related to U.S. plans and non-U.S. plans, respectively, in the amounts recognized in OCI during 2013 consisted of: | | | | | | | | In millions | U.S.
Plans |
| Non-
U.S.
Plans |
| Current year actuarial (gain) loss | $ | (1,854 | ) | $ | (4 | ) | Amortization of actuarial loss | (485 | ) | (1 | ) | Current year prior service cost | — |
| — |
| Amortization of prior service cost | (34 | ) | — |
| Curtailments | (19 | ) | — |
| | $ | (2,392 | ) | $ | (5 | ) |
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| Schedule of Assumptions Used [Table Text Block] |
Major actuarial assumptions used in determining the benefit obligations and net periodic pension cost for our defined benefit plans are presented in the following table: | | | | | | | | | | | | | | | 2013 | | 2012 | | 2011 | | | U.S.
Plans |
| Non-
U.S.
Plans |
| U.S.
Plans |
| Non-
U.S.
Plans |
| U.S.
Plans |
| Non-
U.S.
Plans |
| Actuarial assumptions used to determine benefit obligations as of December 31: | | | | | | | Discount rate | 4.90 | % | 5.07 | % | 4.10 | % | 4.96 | % | 5.10 | % | 5.98 | % | Rate of compensation increase | 3.75 | % | 4.13 | % | 3.75 | % | 3.17 | % | 3.75 | % | 3.12 | % | Actuarial assumptions used to determine net periodic pension cost for years ended December 31: | | | | | | | Discount rate | 4.10 | % | 4.96 | % | 5.10 | % | 5.98 | % | 5.60 | % | 6.01 | % | Expected long-term rate of return on plan assets (a) | 8.00 | % | 7.04 | % | 8.00 | % | 7.62 | % | 8.25 | % | 7.79 | % | Rate of compensation increase | 3.75 | % | 3.17 | % | 3.75 | % | 3.12 | % | 3.75 | % | 3.07 | % |
| | (a) | Represents the expected rate of return for International Paper's qualified pension plan. The weighted average rate for the Temple-Inland Retirement Plan was |
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| Effect Of A 25 Basis Point Decrease On Net Pension Expense [Table Text Block] |
The following illustrates the effect on pension expense for 2014 of a 25 basis point decrease in the above assumptions: | | | | | In millions | 2014 |
| Expense/(Income): | | Discount rate | $ | 35 |
| Expected long-term rate of return on plan assets | 25 |
| Rate of compensation increase | (5 | ) |
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| Schedule of Allocation of Plan Assets [Table Text Block] |
| | | | | | | | | | | | | | Fair Value Measurement at December 31, 2013 | Asset Class | Total |
| Quoted
Prices
in
Active
Markets
For
Identical
Assets
(Level 1) |
| Significant
Observable
Inputs
(Level 2) |
| Significant
Unobservable
Inputs
(Level 3) |
| In millions | | | | | Equities – domestic | $ | 2,466 |
| $ | 1,175 |
| $ | 1,290 |
| $ | 1 |
| Equities – international | 2,313 |
| 1,470 |
| 843 |
| — |
| Corporate bonds | 1,248 |
| — |
| 1,248 |
| — |
| Government securities | 1,097 |
| — |
| 1,097 |
| — |
| Mortgage backed securities | 143 |
| — |
| 143 |
| — |
| Other fixed income | 74 |
| (1 | ) | 65 |
| 10 |
| Commodities | 193 |
| — |
| 193 |
| — |
| Hedge funds | 831 |
| — |
| — |
| 831 |
| Private equity | 484 |
| — |
| — |
| 484 |
| Real estate | 1,038 |
| — |
| — |
| 1,038 |
| Derivatives | 313 |
| — |
| — |
| 313 |
| Cash and cash equivalents | 506 |
| (10 | ) | 516 |
| — |
| Total Investments | $ | 10,706 |
| $ | 2,634 |
| $ | 5,395 |
| $ | 2,677 |
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| | | | | | | | | | | | | | Fair Value Measurement at December 31, 2012 | Asset Class | Total |
| Quoted
Prices in
Active
Markets
For
Identical
Assets
(Level 1) |
| Significant
Observable
Inputs
(Level 2) |
| Significant
Unobservable
Inputs
(Level 3) |
| In millions | | | | | Equities – domestic | $ | 2,171 |
| $ | 1,241 |
| $ | 927 |
| $ | 3 |
| Equities – international | 1,513 |
| 1,145 |
| 368 |
| — |
| Common collective funds – fixed income | 180 |
| — |
| 180 |
| — |
| Corporate bonds | 1,539 |
| — |
| 1,539 |
| — |
| Government securities | 1,593 |
| — |
| 1,593 |
| — |
| Mortgage backed securities | 127 |
| — |
| 127 |
| — |
| Other fixed income | 75 |
| — |
| 67 |
| 8 |
| Commodities | 216 |
| — |
| 216 |
| — |
| Hedge funds | 492 |
| — |
| — |
| 492 |
| Private equity | 503 |
| — |
| — |
| 503 |
| Real estate | 1,037 |
| — |
| — |
| 1,037 |
| Derivatives | 354 |
| — |
| — |
| 354 |
| Cash and cash equivalents | 311 |
| (15 | ) | 326 |
| — |
| Total Investments | $ | 10,111 |
| $ | 2,371 |
| $ | 5,343 |
| $ | 2,397 |
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| Projected Future Pension Benefit Payments, Excluding Any Termination Benefits [Table Text Block] |
At December 31, 2013, projected future pension benefit payments, excluding any termination benefits, were as follows: | | | | | In millions | | 2014 | $ | 767 |
| 2015 | 759 |
| 2016 | 767 |
| 2017 | 779 |
| 2018 | 791 |
| 2019 – 2023 | 4,165 |
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