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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net Sales $ 5,123 $ 5,568 $ 15,341 $ 16,878
Costs and Expenses        
Cost of products sold 3,541 3,772 10,714 11,602
Selling and administrative expenses 360 387 1,110 1,202
Depreciation, amortization and cost of timber harvested 320 327 955 963
Distribution expenses 377 395 1,149 1,168
Taxes other than payroll and income taxes 44 42 129 128
Restructuring and other charges, net 105 21 131 21
Net (gains) losses on sales and impairments of businesses (5) 8 347 153
Net (gains) losses on sales of equity method investments (2) 0 (35) 0
Antitrust fines 0 32 0 32
Interest expense, net 112 123 345 378
Non-operating pension expense (income) (11) 9 (31) 27
Earnings (Loss) Before Income Taxes and Equity Earnings 282 452 527 1,204
Income tax provision (benefit) 50 137 211 371
Equity earnings (loss), net of taxes (28) 27 13 221
Net Earnings (Loss) 204 342 329 1,054
Less: Net earnings (loss) attributable to noncontrolling interests 0 (2) 0 (6)
Net Earnings (Loss) Attributable to International Paper Company $ 204 $ 344 $ 329 $ 1,060
Basic Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders        
Net earnings (loss) $ 0.52 $ 0.88 $ 0.84 $ 2.67
Diluted Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders        
Net earnings (loss) $ 0.52 $ 0.87 $ 0.83 $ 2.65
Average Shares of Common Stock Outstanding – assuming dilution 394.6 395.4 394.5 399.6