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Consolidated Statement Of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
NET SALES [1] $ 21,743 $ 19,495 $ 20,675
COSTS AND EXPENSES      
Cost of products sold 15,300 14,057 14,313
Selling and administrative expenses 1,653 1,484 1,539
Depreciation, amortization and cost of timber harvested [2] 1,343 1,124 1,167
Distribution expenses 1,434 1,237 1,248
Taxes other than payroll and income taxes 169 154 158
Restructuring and other charges 67 54 252
Impairment of goodwill and other intangibles 0 0 137
Net (gains) losses on sales and impairments of businesses 9 70 174
Litigation settlement 354 0 0
Net bargain purchase gain on acquisition of business (6) 0 0
Interest expense, net 572 520 555
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY EARNINGS (LOSSES) 848 [3] 795 [4] 1,132
Income tax provision (benefit) (1,085) 193 417
Equity earnings (loss), net of taxes 177 198 117
EARNINGS (LOSS) FROM CONTINUING OPERATIONS 2,110 800 832
Discontinued operations, net of taxes 34 [5] 102 [6] 85
NET EARNINGS (LOSS) 2,144 902 917
Less: Net earnings (loss) attributable to noncontrolling interests 0 (2) (21)
NET EARNINGS (LOSS) ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY $ 2,144 [3],[5],[7] $ 904 [4],[6],[8] $ 938
BASIC EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS      
Earnings (loss) from continuing operations $ 5.11 [3] $ 1.95 [4] $ 2.05
Discontinued operations, net of taxes 0.08 [5] 0.25 [6] 0.20
Net earnings (loss) 5.19 [3],[5],[7] 2.20 [4],[6],[8] 2.25
DILUTED EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS      
Earnings (loss) from continuing operations 5.05 [3] 1.93 [4] 2.03
Discontinued operations, net of taxes 0.08 [5] 0.25 [6] 0.20
Net earnings (loss) $ 5.13 [3],[5],[7] $ 2.18 [4],[6],[8] $ 2.23
AMOUNTS ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS      
Earnings (loss) from continuing operations $ 2,110 $ 802 $ 853
Discontinued operations, net of taxes 34 [5] 102 [6] 85
Net earnings (loss) $ 2,144 [3],[5],[7] $ 904 [4],[6],[8] $ 938
[1] Net sales are attributed to countries based on the location of the seller.
[2] Excludes accelerated depreciation related to the closure and/or repurposing of mills.
[3] Includes the following pre-tax charges (gains): 2017In millions Q1 Q2 Q3 Q4Gain on sale of investment in ArborGen $— $(14) $— $—Costs associated with the pulp business acquired in 2016 4 5 6 18Amortization of Weyerhaeuser inventory fair value step-up 14 — — —Holmen bargain purchase gain (6) — — —Abandoned property removal 2 5 7 6Kleen Products settlement — 354 — —Asia Foodservice sale — 9 — —Brazil Packaging wood supply accelerated amortization — — 10 —Debt extinguishment costs — — — 83Interest income on income tax refund claims — (4) — (1)Other items — (2) — —Non-operating pension expense 31 34 33 386Total $45 $387 $56 $492
[4] Includes the following pre-tax charges (gains): 2016In millions Q1 Q2 Q3 Q4Riegelwood mill conversion costs $9 $— $— $—India Packaging evaluation write-off — — 17 —Early debt extinguishment costs — — 29 —Write-off of certain regulatory pre-engineering costs — — 8 —Costs associated with the newly acquired pulp business — 5 7 19Asia Box impairment / restructuring 37 28 5 —Gain on sale of investment in Arizona Chemical (8) — — —Turkey mill closure — — — 7Amortization of Weyerhaeuser inventory fair value step-up — — — 19Non-operating pension expense 44 487 42 37Total $82 $520 $108 $82
[5] Includes the operating earnings of the North American Consumer Packaging business for the full year. Also includes the following pre-tax charges (gains): 2017In millions Q1 Q2 Q3 Q4North American Consumer Packaging transaction costs $— $— $— $17Non-operating pension expense — — — 45Total $— $— $— $62
[6] Includes the operating earnings of the North American Consumer Packaging business for the full year and a pre-tax charge of $8 million for a legal settlement associated with the xpedx business.
[7] Includes the following tax expenses (benefits): 2017 In millions Q1 Q2 Q3 Q4 International legal entity restructuring $15 $— $19 $— Income tax refund claims — (85) — (28) Cash pension contribution — 38 — — International Tax Law Change — — — 9 Tax benefit of Tax Cuts and Jobs Act — — — (1,222) Tax impact of other special items (8) (137) (8) (41) Total $7 $(184) $11 $(1,282)
[8] Includes the following tax expenses (benefits): 2016In millions Q1 Q2 Q3 Q4Cash pension contribution $— $23 $— $—U.S. Federal audit (14) — — —Brazil goodwill (57) — — —International legal entity restructuring — (6) — —Luxembourg tax rate change — — — 31Tax impact of other special items (3) (10) (24) (14)Total $(74) $7 $(24) $17