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Retirement Plans (Tables)
12 Months Ended
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]  
Net Periodic Pension Expense For Qualified And Nonqualified U.S. Defined Benefit Plans [Table Text Block]
Net periodic pension expense for qualified and nonqualified U.S. and non-U.S. defined benefit plans comprised the following: 

  202020192018
In millionsU.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
Service cost$85 $5 $68 $$153 $
Interest cost393 6 440 467 
Expected return on plan assets(668)(8)(631)(10)(765)(11)
Actuarial loss (gain)202 2 200 337 
Amortization of prior service cost20  16 — 16 — 
Curtailment loss (gain) (1)— (1)— — 
Settlement loss 1 — 424 — 
Net periodic pension expense$32 $5 $93 $$632 $
Pension Allocations By Type Of Fund And Target Allocations [Table Text Block]
International Paper’s U.S. pension allocations by type of fund at December 31, 2020 and 2019 and target allocations were as follows:

Asset Class20202019Target
Allocations
Equity accounts40 %37 %
32% - 43%
Fixed income accounts48 %50 %
44% - 56%
Real estate accounts7 %%
5% - 11%
Other5 %%
3% - 8%
Total100 %100 % 
Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of International Paper’s pension plan assets at December 31, 2020 and 2019 by asset class are shown below. Hedge funds disclosed in the following table are allocated to fixed income accounts for target allocation purposes.

Fair Value Measurement at December 31, 2020
Asset ClassTotalQuoted
Prices
in
Active
Markets
For
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
In millions        
Equities – domestic$1,806 $1,037 $769 $ 
Equities – international2,921 2,181 740  
Corporate bonds2,345  2,345  
Government securities3,377  3,377  
Mortgage backed securities133  133  
Other fixed income(1,585) (1,599)14 
Derivatives336 342  (6)
Cash and cash equivalents210 210   
Other investments:
  Hedge funds1,112 
  Private equity563 
  Real estate funds800 
Total Investments$12,018 $3,770 $5,765 $8 
Fair Value Measurement at December 31, 2019
Asset ClassTotalQuoted
Prices in
Active
Markets
For
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
In millions        
Equities – domestic$1,613 $965 $648 $— 
Equities – international2,181 1,599 582 — 
Corporate bonds1,845 — 1,845 — 
Government securities2,659 — 2,659 — 
Mortgage backed securities— — 
Other fixed income(647)— (661)14 
Derivatives(19)— — (19)
Cash and cash equivalents336 336 — — 
Other investments:
  Hedge funds902 
  Private equity522 
  Real estate funds772 
Total Investments$10,165 $2,900 $5,074 $(5)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block]
Other Investments at December 31, 2020
InvestmentFair ValueUnfunded CommitmentsRedemption FrequencyRemediation Notice Period
In millions
Hedge funds1,112  Daily to annually1 - 100 days
Private equity563 290 (a)None
Real estate funds800 210 Quarterly45 - 60 days
Total$2,475 $500 
(a) A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.

Other Investments at December 31, 2019
InvestmentFair ValueUnfunded CommitmentsRedemption FrequencyRemediation Notice Period
In millions        
Hedge funds902 — Daily to annually1 - 100 days
Private equity522 198 (a)None
Real estate funds772 147 Quarterly45 - 60 days
Total$2,196 $345 
(a) A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Table Text Block]
The following is a reconciliation of the assets that are classified using significant unobservable inputs (Level 3) at December 31, 2020.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
In millionsOther
fixed
income
DerivativesTotal
Beginning balance at December 31, 2018$13 $98 $111 
Actual return on plan assets:
Relating to assets still held at the reporting date(127)(126)
Relating to assets sold during the period— 314 314 
Purchases, sales and settlements— (304)(304)
Transfers in and/or out of Level 3 — — — 
Ending balance at December 31, 2019$14 $(19)$(5)
Actual return on plan assets:
Relating to assets still held at the reporting date1 21 22 
Relating to assets sold during the period(1)268 267 
Purchases, sales and settlements (276)(276)
Transfers in and/or out of Level 3    
Ending balance at December 31, 2020$14 $(6)$8 
Retirement Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]
The following table shows the changes in the benefit obligation and plan assets for 2020 and 2019, and the plans’ funded status.
  20202019
In millionsU.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
Change in projected benefit obligation:
Benefit obligation, January 1$11,699 $253 $10,467 $215 
Service cost85 5 68 
Interest cost393 6 440 
Curtailment (1)— (1)
Settlements (5)— (6)
Actuarial loss (gain)1,357 10 1,230 33 
Acquisitions  — 
Divestitures (1)— (1)
Plan amendments42  40 — 
Benefits paid(556)(7)(546)(8)
Effect of foreign currency exchange rate movements 4 — 
Benefit obligation, December 31$13,020 $264 $11,699 $253 
Change in plan assets:
Fair value of plan assets, January 1$10,165 $183 $8,735 $161 
Actual return on plan assets2,377 11 1,950 23 
Company contributions32 9 26 10 
Benefits paid(556)(7)(546)(8)
Settlements (5)— (6)
Effect of foreign currency exchange rate movements (1)— 
Fair value of plan assets, December 31$12,018 $190 $10,165 $183 
Funded status, December 31$(1,002)$(74)$(1,534)$(70)
Amounts recognized in the consolidated balance sheet:
Non-current asset$ $5 $— $
Current liability(20)(3)(28)(3)
Non-current liability(982)(76)(1,506)(73)
 $(1,002)$(74)$(1,534)$(70)
Schedule Of Amounts In Accumulated Other Comprehensive Income [Table Text Block]
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):
Prior service cost (credit)$120 $ $98 $(1)
Net actuarial loss2,297 82 2,851 75 
 $2,417 $82 $2,949 $74 
Pension Benefit Adjustments Recognized In Other Comprehensive (Loss) Income [Table Text Block]
The components of the $(532) million and $8 million related to U.S. plans and non-U.S. plans, respectively, in the amounts recognized in OCI during 2020 consisted of:
 
In millionsU.S.
Plans
Non-
U.S.
Plans
Current year actuarial (gain) loss$(352)$6 
Amortization of actuarial loss(202)(2)
Current year prior service cost42  
Amortization of prior service cost(20) 
Effect of foreign currency exchange rate movements 4 
 $(532)$8 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table summarizes information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2020 and 2019: 

  20202019
In millionsU.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Projected benefit obligation$13,020 $245 $11,699 $225 
Accumulated benefit obligation12,997 227 11,672 208 
Fair value of plan assets12,018 166 10,165 149 
Defined Benefit Plan, Assumptions [Table Text Block]
Major actuarial assumptions used in determining the benefit obligations and net periodic pension cost for our defined benefit plans are presented in the following table:

  202020192018
  U.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
U.S.
Plans
Non-
U.S.
Plans
Actuarial assumptions used to determine benefit obligations as of December 31:
Discount rate2.60 %2.32 %3.40 %2.70 %4.30 %3.97 %
Rate of compensation increase2.25 %3.66 %2.25 %3.62 %2.25 %4.05 %
Actuarial assumptions used to determine net periodic pension cost for years ended December 31:
Discount rate (a)3.40 %2.70 %4.30 %3.97 %3.80 %3.59 %
Expected long-term rate of return on plan assets7.00 %4.92 %7.25 %6.20 %7.50 %6.52 %
Rate of compensation increase2.25 %3.62 %2.25 %4.05 %3.38 %4.06 %
(a) Represents the weighted average rate for the U.S. qualified plans in 2018 due to the remeasurements
Effect Of A 25 Basis Point Decrease On Net Pension Expense [Table Text Block]
The following illustrates the effect on pension expense for 2021 of a 25 basis point decrease in the above assumptions: 

In millions2021
Expense (Income):
Discount rate$27 
Expected long-term rate of return on plan assets28 
Projected Future Pension Benefit Payments, Excluding Any Termination Benefits [Table Text Block]
At December 31, 2020, projected future pension benefit payments, excluding any termination benefits, were as follows: 

In millions  
2021$580 
2022598 
2023612 
2024624 
2025635 
2026-20303,271