LEASES (Note)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

International Paper leases various real estate, including certain operating facilities, warehouses, office space and land. The Company also leases material handling equipment, vehicles, and certain other equipment. The Company's leases have remaining lease terms of one year to 96 years. Total lease cost was $68 million for both the three months ended September 30, 2020 and 2019, and $202 million and $206 million for the nine months ended September 30, 2020 and 2019, respectively.

Supplemental Balance Sheet Information Related to Leases

In millions	Classification	September 30, 2020		December 31, 2019
Assets
Operating lease assets	Right-of-use assets	$	422	$	434
Finance lease assets	Plants, properties and equipment, net (a)	95		103
Total leased assets		$	517	$	537
Liabilities
Current
Operating	Other current liabilities	$	137	$	134
Finance	Notes payable and current maturities of long-term debt	12		12
Noncurrent
Operating	Long-term lease obligations	290		304
Finance	Long-term debt	83		88
Total lease liabilities		$	522	$	538

(a)Finance leases are recorded net of accumulated amortization of $49 million and $40 million as of September 30, 2020 and December 31, 2019, respectively.