XML 31 R17.htm IDEA: XBRL DOCUMENT v3.7.0.1
INCOME TAXES Footnote
 3 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]  
Income Taxes [Note Text Block]
NOTE 11 - INCOME TAXES
International Paper made income tax payments, net of refunds, of $29 million and $6 million for the three months ended March 31, 2017 and 2016, respectively.

The following table presents a rollforward of unrecognized tax benefits and related accrued estimated interest and penalties for the three months ended March 31, 2017: 
In millions
Unrecognized
Tax Benefits
 
Accrued Estimated
Interest and Tax
Penalties
Balance at December 31, 2016
$
(98
)
 
$
(22
)
Activity for three months ended March 31, 2017
(2
)
 
2

Balance at March 31, 2017
$
(100
)
 
$
(20
)

The Company currently estimates, that as a result of ongoing discussions, pending tax settlements and expirations of statutes of limitations, the amount of unrecognized tax benefits could be reduced by approximately $5 million during the next 12 months.

Included in the Company’s income tax provisions for the three months ended March 31, 2017 and 2016, are $7 million and $74 million of income tax benefits, respectively, related to special items. The components of the net provision related to special items were as follows: 
 
Three Months Ended
March 31,
In millions
2017
 
2016
Special items
$
8

 
$
(3
)
Tax-related adjustments:
 
 
 
International investment restructurings
(15
)
 
(57
)
2010-2012 IRS audit closure
—

 
(14
)
Income tax provision (benefit) related to special items
$
(7
)
 
$
(74
)