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RECENT ACCOUNTING DEVELOPMENTS (Tables)
 9 Months Ended
Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
The following table details the impact of the retrospective adoption of this standard on the three months and nine months ended September 30, 2017, reported in the accompanying condensed consolidated statement of operations. The retrospective adoption had no impact on Net earnings (loss).
Condensed Consolidated Statement of Operations
 
 
Three Months Ended September 30, 2017
In millions
 
Previously Reported
 
Impact of Adoption Increase/(Decrease)
 
As Revised
Cost of products sold
 
$
3,756

 
$
(43
)
 
$
3,713

Selling and administrative expenses
 
407

 
(6
)
 
401

Non-operating pension expense
 
—

 
49

 
49

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2017
In millions
 
Previously Reported
 
Impact of Adoption Increase/(Decrease)
 
As Revised
Cost of products sold
 
$
11,214

 
$
(114
)
 
$
11,100

Selling and administrative expenses
 
1,206

 
(19
)
 
1,187

Non-operating pension expense
 
—

 
133

 
133
Schedule of Prospective Adoption of New Accounting Pronouncements [Table Text Block]
The impacts of the adoption of the new revenue standard on the Company's condensed consolidated financial statements were as follows:
Condensed Consolidated Statement of Operations
 
 
Three Months Ended
September 30, 2018
In millions, except per share amounts
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Net sales
 
$
5,901

 
$
5,898

 
$
3

Cost of products sold
 
3,887

 
3,885

 
2

Distribution expenses
 
397

 
396

 
1

Income tax provision (benefit), net
 
83

 
83

 
—

Earnings (loss) from continuing operations
 
562

 
562

 
—

Net earnings (loss)
 
562

 
562

 
—

Earnings per share attributable to International Paper Company Shareholders
 
 
 
 
 
 
Basic
 
$
1.38

 
$
1.38

 
$
—

Diluted
 
1.37

 
1.37

 
—

 
 
 
 
 
 
 
Condensed Consolidated Statement of Operations
 
 
Nine Months Ended
September 30, 2018
In millions, except per share amounts
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Net sales
 
$
17,355

 
$
17,335

 
$
20

Cost of products sold
 
11,757

 
11,748

 
9

Distribution expenses
 
1,166

 
1,163

 
3

Income tax provision (benefit), net
 
302

 
300

 
2

Earnings (loss) from continuing operations
 
1,354

 
1,348

 
6

Net earnings (loss)
 
1,699

 
1,693

 
6

Earnings per share attributable to International Paper Company Shareholders
 
 
 
 
 
 
Basic
 
$
4.12

 
$
4.10

 
$
0.02

Diluted
 
4.08

 
4.06

 
0.02

 
 
 
 
 
 
 
Condensed Consolidated Balance Sheet
 
 
September 30, 2018
In millions, except per share amounts
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Contract assets
 
$
383

 
$
—

 
$
383

Inventories
 
2,130

 
2,389

 
(259
)
Other current assets
 
199

 
213

 
(14
)
Other accrued liabilities
 
1,054

 
1,035

 
19

Deferred income taxes
 
2,512

 
2,500

 
12

Retained earnings
 
7,353

 
7,274

 
79

 
 
 
 
 
 
 
Condensed Consolidated Statement of Cash Flows
 
 
Nine Months Ended
September 30, 2018
In millions, except per share amounts
 
As Reported
 
Balances Without Adoption of ASC 606
 
Impact of Adoption Increase/(Decrease)
Net earnings (loss)
 
$
1,699

 
$
1,693

 
$
6

Deferred income tax provision (benefit), net
 
163

 
175

 
(12
)
Contract assets
 
(20
)
 
—

 
(20
)
Inventories
 
(120
)
 
(128
)
 
8

Accounts payable and accrued liabilities
 
301

 
298

 
3

Other
 
64

 
49

 
15