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Interim Financial Results (Tables)
 12 Months Ended
Dec. 31, 2021
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
2021
Net sales$4,593   $4,770   $4,914   $5,086   $19,363 
Earnings (loss) from continuing operations before income taxes and equity earnings306 (a)252 (a) 397 (a) 44 (a) 999 (a)
Gain (loss) from discontinued operations82 (b)124 (b)432 (b)(8)(b)630 (b)
Net earnings (loss) attributable to International Paper Company349 (a-c)432 (a-d)864 (a-c)107 (a-c)1,752 (a-d)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations$0.68 $0.79 $1.11 $0.30 $2.88 
Gain (loss) from discontinued operations0.21 0.31 1.11 (0.02)1.62 
Net earnings (loss)0.89 1.10 2.22 0.28 4.50 
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations0.68 0.78 1.10 0.30 2.86 
Gain (loss) from discontinued operations0.20 0.31 1.10 (0.02)1.61 
Net earnings (loss)0.88 1.09 2.20 0.28 4.47 
Dividends per share of common stock0.5125   0.5125   0.5125   0.4625   2.0000 
2020
Net sales$4,450   $4,299   $4,376   $4,440   $17,565 
Earnings (loss) from continuing operations before income taxes and equity earnings(138)(e)241 (e)202 (e)24 (e)329 (e)
Gain (loss) from discontinued operations94 (f)15 (f)55 (f)88 (f)252 (f)
Net earnings (loss) attributable to International Paper Company(141)(e-g)266 (e-g)204 (e-g)153 (e-g)482 (e-g)
Basic earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations$(0.59)$0.64 $0.38 $0.17 $0.59 
Gain (loss) from discontinued operations0.23 0.03 0.14 0.22 0.64 
Net earnings (loss)(0.36)0.67 0.52 0.39 1.23 
Diluted earnings (loss) per share attributable to International Paper Company common shareholders:
Earnings (loss) from continuing operations(0.59)0.64 0.38 0.17 0.58 
Gain (loss) from discontinued operations0.23 0.03 0.14 0.22 0.64 
Net earnings (loss)(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 
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. In addition, the unaudited selected consolidate financial data are derived from our audited consolidated financial statements and have been revised to reflect discontinued operations.
Quarterly Financial Information (Footnotes) (Details)
Footnotes to Interim Financial Results

(a) Includes the following pre-tax charges (gains):
2021
In millionsQ1Q2Q3Q4
Debt extinguishment costs$18 $170 $35 $238 
EMEA Packaging business optimization12 — — — 
Building a Better IP— — — 29 
Legal reserve adjustment— — — (5)
Environmental remediation reserve adjustment— 5 5 — 
Gain on sale of equity investment in Graphic Packaging(74)(130)— — 
EMEA Packaging impairment - Turkey2 (9)— — 
Sylvamo investment - fair value adjustment— — — 32 
Real estate - office impairment— 21 — — 
Other items— 11 9 1 
Non-operating pension expense(52)(51)(50)(47)
Total$(94)$17 $(1)$248 
(b) Includes the operating earnings of the Printing Papers business for the full year. Also includes the following charges (gains):
2021
In millionsQ1Q2Q3Q4
Printing Papers spin-off expenses$20 $20 $47 $5 
Gain on sale of Kwidzyn, Poland mill— — (350)6 
Gain on sale of La Mirada, CA distribution center— — (65)— 
Foreign value-added tax credit— (47)10 — 
Foreign and state taxes related to spin-off of Printing Papers business— — 27 (3)
Non-operating pension expense(1)(1)— — 
Total$19 $(28)$(331)$8 
(c) Includes the following tax expenses (benefits):
2021
In millionsQ1Q2Q3Q4
Tax impact of other special items12 (14)(12)(73)
Tax impact of non-operating pension expense13 13 12 11 
Total$25 $(1)$— $(62)
(d) Includes the allocation of income to noncontrolling interest of $1 million for the three months ended June 30, 2021 related to the gain on the sale of our EMEA Packaging business in Turkey.

(e) 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 adjustment41 — — — 
Gain on sale 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 - Turkey— — — 123 
Other items(3)— 1 — 
Non-operating pension expense(6)(14)(11)(10)
Total$378 $54 $91 $178 

(f) Includes the operating earnings of the Printing Papers business for the full year. Also includes the following charges (gains):

2020
In millionsQ1Q2Q3Q4
Printing Papers spin-off expenses$— $— $— $8 
Environmental remediation reserve adjustment— — 6 — 
Tax benefit related to settlement of tax audits— — — (9)
Other items— — (1)3 
Total$— $— $5 $2 
(g) Includes the following tax expenses (benefits):

2020
In millionsQ1Q2Q3Q4
Tax benefit related to settlement of tax audits$— $— $— $(23)
Tax impact of other special items(12)(18)(24)(16)
Tax impact of non-operating pension expense1 3 4 2 
Total$(11)$(15)$(20)$(37)