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Interim Financial Results (Tables)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information [Table Text Block]
In millions, except per share amounts and stock prices
1st
Quarter
 
2nd
Quarter
 
3rd
Quarter
 4th Quarter Year
2020
Net sales$5,352   $4,866   $5,123   $5,239   $20,580 
Earnings (loss) from continuing operations before income taxes and equity earnings(16)(a)261 (a) 282 (a) 123 (a) 650 (a)
Net earnings (loss) attributable to International Paper Company(141)(a-b)266 (a-b)204 (a-b)153 (a-b) 482 (a-b)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:(0.36)0.67 0.52 0.39 1.23 
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:(0.36)0.67 0.52 0.39 1.22 
Dividends per share of common stock0.5125   0.5125   0.5125   0.5125   2.0500 
2019
Net sales$5,643   $5,667   $5,568   $5,498   $22,376 
Earnings (loss) from continuing operations before income taxes and equity earnings418 (c)334 (c)452 (c)400 (c)1,604 (c)
Net earnings (loss) attributable to International Paper Company424 (c-d)292 (c-e)344 (c-e)165 (c-d)1,225 (c-e)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:1.06 0.74 0.88 0.42 3.10 
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:1.05 0.73 0.87 0.42 3.07 
Dividends per share of common stock0.5000   0.5000   0.5000   0.5125   2.0125 
Note: International Paper's common shares (symbol: IP) are listed on the New York Stock Exchange.

Note: Since basic and diluted earnings per share are computed independently for each period and category, full year per share amounts may not equal the sum of the four quarters.
Quarterly Financial Information (Footnotes) (Details)
Footnotes to Interim Financial Results
(a)Includes the following pre-tax charges (gains):
2020
In millionsQ1Q2Q3Q4
Brazil Packaging impairment$344 $8 $(4)$— 
India investment17 (6)— — 
Asbestos litigation reserve adjustment— 43 — — 
Environmental remediation reserve adjustments41 — 7 — 
Gain on sale of portion of equity investment in Graphic Packaging(33)— — — 
Abandoned property removal9 5 — — 
Riverdale mill conversion accelerated depreciation1 — — — 
Debt extinguishment costs8 18 105 65 
EMEA Packaging impairment— — — 123 
Printing Papers business spin-off costs— — — 9 
Other items(3)— 1 4 
Non-operating pension expense(6)(14)(11)(10)
Total$378 $54 $98 $191 

(b)Includes the following tax expenses (benefits):
2020
In millionsQ1Q2Q3Q4
Tax benefit related to settlement of tax audits$— $— $— $(32)
Tax impact of other special items(12)(18)(26)(18)
Tax impact of non-operating pension expense1 3 4 2 
Total$(11)$(15)$(22)$(48)















(c)Includes the following pre-tax charges (gains):

2019
In millionsQ1Q2Q3Q4
India impairment$— $152 $8 $(1)
India divestiture transaction costs— — — 3 
Global Cellulose Fibers goodwill impairment— — — 52 
Litigation reserves— — 22 19 
Italian antitrust fine— — 32 — 
Environmental remediation reserve adjustment— — 15 10 
(Gain) loss on sale of EMEA Packaging box plant(7)— — 1 
EMEA Packaging business optimization— — — 17 
Multi-employer pension plan exit liability16 — (7)— 
Abandoned property removal11 11 13 15 
Riverdale mill conversion costs1 1 1 2 
Foreign VAT refund accrual including interest— — — (6)
Debt extinguishment costs— — — 21 
Gain on sale of previously closed Oregon mill site— — (9)— 
Overhead cost reduction initiative— — 21 — 
Other items— 1 — 3 
Non-operating pension expense10 8 9 9 
Total$31 $173 $105 $145 
(d)Includes the following tax expenses (benefits):
2019
In millionsQ1Q2Q3Q4
Luxembourg statutory tax rate change$— $9 $— $— 
State income tax legislative changes— (3)— — 
Foreign tax audits— 3 — — 
Internal investment restructuring— — — (53)
Foreign deferred tax valuation allowance— — — 203 
Tax impact of other special items(6)(5)(14)(28)
Tax impact of non-operating pension expense(2)(2)(2)(2)
Total$(8)$2 $(16)$120 
(e)Includes allocation of loss to noncontrolling interest of $7 million and $2 million for the three months ended June 30, 2019 and September 30, 2019, respectively, associated with the impairment of the net assets of our India Papers business.