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Interim Financial Results Interim Financial Results Footnotes (Tables)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information [Table Text Block]
In millions, except per share amounts and stock prices
1st
Quarter
 
2nd
Quarter
 
3rd
Quarter
 
4th Quarter
 
Year
 
2017
 
 
 
 
 
 
 
 
 
 
Net sales
$
5,132

  
$
5,383

  
$
5,517

  
$
5,711

  
$
21,743

 
Earnings (loss) from continuing operations before income taxes and equity earnings
217

(a)
(23
)
(a) 
457

(a) 
197

(a) 
848

(a)
Gain (loss) from discontinued operations
17

(b)
(4
)
(b)
29

(b)
(8
)
(b)
34

(b)
Net earnings (loss) attributable to International Paper Company
209

(a-c)
80

(a-c) 
395

(a-c) 
1,460

(a-c) 
2,144

(a-c)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:
 
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
$
0.47

(a)
$
0.20

(a) 
$
0.89

(a) 
$
3.56

(a) 
$
5.11

(a)
Gain (loss) from discontinued operations
0.04

(b)
(0.01
)
(b)
0.07

(b)
(0.02
)
(b)
0.08

(b)
Net earnings (loss)
0.51

(a-c)
0.19

(a-c) 
0.96

(a-c) 
3.54

(a-c) 
5.19

(a-c)
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:
 
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
0.46

(a)
0.20

(a)
0.88

(a)
3.52

(a)
5.05

(a)
Gain (loss) from discontinued operations
0.04

(b)
(0.01
)
(b)
0.07

(b)
(0.02
)
(b)
0.08

(b)
Net earnings (loss)
0.50

(a-c)
0.19

(a-c) 
0.95

(a-c) 
3.50

(a-c) 
5.13

(a-c)
Dividends per share of common stock
0.4625

  
0.4625

  
0.4625

  
0.4750

  
1.8625

 
Common stock prices
 
 
 
 
 
 
 
 
 
 
High
$
58.86

  
$
57.24

  
$
58.95

  
$
58.96

  
$
58.96

 
Low
49.62

  
49.60

  
51.28

  
53.10

  
49.60

 
2016
 
 
 
 
 
 
 
 
 
 
Net sales
$
4,717

  
$
4,914

  
$
4,864

  
$
5,000

  
$
19,495

 
Earnings (loss) from continuing operations before income taxes and equity earnings
307

(d)
(76
)
(d) 
320

(d) 
244

(d) 
795

(d) 
Gain (loss) from discontinued operations
4

(e)
40

(e)
34

(e)
24

(e)
102

(e)
Net earnings (loss) attributable to International Paper Company
334

(d-f)
40

(d-f)
312

(d-f)
218

(d-f)
904

(d-f)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:


 


 


 


 


 
Earnings (loss) from continuing operations
$
0.80

(d)
$
0.00

(d) 
$
0.68

(d) 
$
0.47

(d) 
$
1.95

(d) 
Gain (loss) from discontinued operations
0.01

(e)
0.10

(e)
0.08

(e)
0.06

(e)
0.25

(e)
Net earnings (loss)
0.81

(d-f)
0.10

(d-f) 
0.76

(d-f) 
0.53

(d-f) 
2.20

(d-f) 
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:


 


 


 


 


 
Earnings (loss) from continuing operations
0.80

(d)
0.00

(d) 
0.67

(d) 
0.47

(d) 
1.93

(d) 
Gain (loss) from discontinued operations
0.01

(e)
0.10

(e)
0.08

(e)
0.06

(e)
0.25

(e)
Net earnings (loss)
0.81

(d-f)
0.10

(d-f) 
0.75

(d-f) 
0.53

(d-f) 
2.18

(d-f) 
Dividends per share of common stock
0.4400

  
0.4400

  
0.4400

  
0.4625

  
1.7825

 
Common stock prices
 
 
 
 
 
 
 
 
 
 
High
$
42.09

  
$
44.60

  
$
49.90

  
$
54.68

  
$
54.68

 
Low
32.50

  
39.24

  
41.08

  
43.55

  
32.50

 




Note: Since basic and diluted earnings per share are computed independently for each period and category, full year per share amounts may not equal the sum of the four quarters. In addition, the unaudited selected consolidated financial data are derived from our audited consolidated financial statements and have been revised to reflect discontinued operations.
Interim Financial Results Footnotes [Table Text Block]
Footnotes to Interim Financial Results
(a)
Includes the following pre-tax charges (gains):
 
 
2017
In millions
 
Q1

 
Q2
 
Q3
 
Q4
Gain on sale of investment in ArborGen
 
$
—

 
$
(14
)
 
$
—

 
$
—

Costs associated with the pulp business acquired in 2016
 
4

 
5

 
6

 
18

Amortization of Weyerhaeuser inventory fair value step-up
 
14

 
—

 
—

 
—

Holmen bargain purchase gain
 
(6
)
 
—

 
—

 
—

Abandoned property removal
 
2

 
5

 
7

 
6

Kleen Products settlement
 
—

 
354

 
—

 
—

Asia Foodservice sale
 
—

 
9

 
—

 
—

Brazil Packaging wood supply accelerated amortization
 
—

 
—

 
10

 
—

Debt extinguishment costs
 
—

 
—

 
—

 
83

Interest income on income tax refund claims
 
—

 
(4
)
 
—

 
(1
)
Other items
 
—

 
(2
)
 
—

 
—

Non-operating pension expense
 
31

 
34

 
33

 
386

Total
 
$
45

 
$
387

 
$
56

 
$
492



(b) Includes the operating earnings of the North American Consumer Packaging business for the full year. Also includes the following pre-tax charges (gains):
 
 
2017
In millions
 
Q1

 
Q2
 
Q3
 
Q4
North American Consumer Packaging transaction costs
 
$
—

 
$
—

 
$
—

 
$
17

Non-operating pension expense
 
—

 
—

 
—

 
45

Total
 
$
—

 
$
—

 
$
—

 
$
62


















(c) 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
)
 

(d) Includes the following pre-tax charges (gains):
 
 
2016
In millions
 
Q1

 
Q2
 
Q3
 
Q4
Riegelwood 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

 
19

Asia Box impairment / restructuring
 
37

 
28

 
5

 
—

Gain on sale of investment in Arizona Chemical
 
(8
)
 
—

 
—

 
—

Turkey mill closure
 
—

 
—

 
—

 
7

Amortization of Weyerhaeuser inventory fair value step-up
 
—

 
—

 
—

 
19

Non-operating pension expense
 
44

 
487

 
42

 
37

Total
 
$
82

 
$
520

 
$
108

 
$
82


(e) 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.
(f) Includes the following tax expenses (benefits):
 
 
2016
In millions
 
Q1
 
Q2
 
Q3
 
Q4
Cash pension contribution
 
$
—

 
$
23

 
$
—

 
$
—

U.S. Federal audit
 
(14
)
 
—

 
—

 
—

Brazil goodwill
 
(57
)
 
—

 
—

 
—

International legal entity restructuring
 
—

 
(6
)
 
—

 
—

Luxembourg tax rate change
 
—

 
—

 
—

 
31

Tax impact of other special items
 
(3
)
 
(10
)
 
(24
)
 
(14
)
Total
 
$
(74
)
 
$
7

 
$
(24
)
 
$
17