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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Net Sales $ 5,901 $ 5,517 $ 17,355 $ 16,032
Costs and Expenses        
Cost of products sold 3,887 3,713 11,757 11,100
Selling and administrative expenses 405 401 1,277 1,187
Depreciation, amortization and cost of timber harvested 335 350 990 1,004
Distribution expenses 397 354 1,166 1,061
Taxes other than payroll and income taxes 44 41 130 124
Restructuring and other charges 0 0 48 (16)
Net (gains) losses on sales and impairments of businesses 122 0 122 9
Litigation settlement 0 0 0 354
Net bargain purchase gain on acquisition of business 0 0 0 (6)
Interest expense, net 133 152 401 431
Non-operating pension expense 25 49 65 133
Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings 553 457 1,399 651
Income tax provision (benefit) 83 136 302 122
Equity earnings (loss), net of taxes 92 45 257 113
Earnings (Loss) From Continuing Operations 562 366 1,354 642
Discontinued operations, net of taxes 0 29 345 42
Net Earnings (Loss) 562 395 1,699 684
Less: Net earnings (loss) attributable to noncontrolling interests 0 0 3 0
Net Earnings (Loss) Attributable to International Paper Company $ 562 $ 395 $ 1,696 $ 684
Basic Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders        
Earnings (loss) from continuing operations $ 1.38 $ 0.89 $ 3.28 $ 1.55
Discontinued operations, net of taxes 0.00 0.07 0.84 0.10
Net earnings (loss) 1.38 0.96 4.12 1.65
Diluted Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders        
Earnings (loss) from continuing operations 1.37 0.88 3.25 1.54
Discontinued operations, net of taxes 0.00 0.07 0.83 0.10
Net earnings (loss) $ 1.37 $ 0.95 $ 4.08 $ 1.64
Average Shares of Common Stock Outstanding – assuming dilution 411.4 417.4 416.3 417.4
Cash Dividends Per Common Share $ 0.4750 $ 0.4625 $ 1.4250 $ 1.3875
Amounts Attributable to International Paper Company Common Shareholders        
Earnings (loss) from continuing operations $ 562 $ 366 $ 1,351 $ 642
Discontinued operations, net of taxes 0 29 345 42
Net Earnings (Loss) Attributable to International Paper Company 562 $ 395 1,696 $ 684
Current Liabilities        
Notes payable and current maturities of long-term debt 555   555  
Accounts payable 2,510   2,510  
Accrued payroll and benefits 484   484  
Liabilities held for sale 0   0  
Other accrued liabilities 1,054   1,054  
Total Current Liabilities $ 4,603   $ 4,603