LEASES (Note)

6 Months Ended

Jun. 30, 2021

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 32 years. Total lease cost was $71 million and $67 million for the three months ended June 30, 2021 and 2020, respectively, and $143 million and $134 million for the six months ended June 30, 2021 and 2020, respectively.

Supplemental Balance Sheet Information Related to Leases

In millions	Classification	June 30, 2021		December 31, 2020
Assets
Operating lease assets	Right-of-use assets	$	399	$	459
Finance lease assets	Plants, properties and equipment, net (a)	91		95
Total leased assets		$	490	$	554
Liabilities
Current
Operating	Other current liabilities	$	141	$	148
Finance	Notes payable and current maturities of long-term debt	13		13
Noncurrent
Operating	Long-term lease obligations	263		315
Finance	Long-term debt	78		82
Total lease liabilities		$	495	$	558

(a)Finance leases are recorded net of accumulated amortization of $59 million and $53 million as of June 30, 2021 and December 31, 2020, respectively.