XML 78 R31.htm IDEA: XBRL DOCUMENT v3.24.0.1
Financial Information By Business Segment And Geographic Area (Note)
 12 Months Ended
Dec. 31, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
Financial Information By Business Segment And Geographic Area
International Paper’s business segments, Industrial Packaging and Global Cellulose Fibers are consistent with the internal structure used to manage these businesses. See the Description of Business Segments on pages 35 and 36 in Part II. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations for a description of the types of products and services from which each reportable segment derives its revenues. On October 1, 2021, the Company completed the previously
announced spin-off of its Printing Papers business into a new, publicly-traded company, Sylvamo, listed on the New York Stock Exchange as SLVM. Additionally, on August 6, 2021, the Company completed the sale of its Kwidzyn, Poland mill which included the pulp and paper mill in Kwidzyn and supporting functions. As a result of the Sylvamo spin-off and the sale of Kwidzyn, the Company no longer has a Printing Papers segment, and all prior year amounts have been adjusted to reflect the Sylvamo and Kwidzyn businesses as a discontinued operation. Both segments are differentiated on a common product, common customer basis consistent with the business segmentation generally used in the Forest Products industry.
Business segment operating profits are used by International Paper’s management to measure the earnings performance of its businesses. Management believes that this measure allows a better understanding of trends in costs, operating efficiencies, prices and volumes. Business segment operating profits are defined as earnings (loss) from continuing operations before income taxes and equity earnings, but including the impact of less than wholly owned subsidiaries, excluding interest expense, net, corporate items, net, corporate net special items, business net special items and non-operating pension expense.
External sales by major product is determined by aggregating sales from each segment based on similar products or services. External sales are defined as those that are made to parties outside International Paper’s consolidated group, whereas sales by segment in the Net Sales table are determined using a management approach and include intersegment sales.

INFORMATION BY BUSINESS SEGMENT

Net Sales
In millions202320222021
Industrial Packaging$15,596 $17,451 $16,326 
Global Cellulose Fibers2,890 3,227 2,732 
Corporate and Intersegment Sales (a)430 483 305 
Net Sales$18,916 $21,161 $19,363 


Operating Profit (Loss)
In millions202320222021
Industrial Packaging$1,266 $1,742 $1,638 
Global Cellulose Fibers(17)106 (3)
Business Segment Operating Profit1,249 1,848 1,635 
Earnings (loss) from continuing operations before income taxes and equity earnings382 1,511 999 
Interest expense, net231 325 337 
Adjustment for less than wholly owned subsidiaries (b)(2)(5)(5)
Corporate expenses, net (a)27 34 134 
Corporate net special items28 99 352 
Business net special items529 76 18 
Non-operating pension (income) expense54 (192)(200)
$1,249 $1,848 $1,635 
Assets
In millions20232022
Industrial Packaging$16,060 $16,425 
Global Cellulose Fibers3,369 3,625 
Corporate and other 3,832 3,890 
Assets$23,261 $23,940 
Capital Spending
In millions202320222021
Industrial Packaging$928 $762 $382 
Global Cellulose Fibers177 143 83 
Subtotal1,105 905 465 
Corporate and other36 26 15 
Capital Spending$1,141 $931 $480 
Depreciation, Amortization and Cost of Timber Harvested
In millions202320222021
Industrial Packaging$1,144 $783 $829 
Global Cellulose Fibers286 255 265 
Corporate2 2 3 
Depreciation and Amortization$1,432 $1,040 $1,097 
External Sales By Major Product 
In millions202320222021
Industrial Packaging$15,596 $17,441 $16,276 
Global Cellulose Fibers2,883 3,219 2,730 
Other (c)437 501 357 
Net Sales$18,916 $21,161 $19,363 
INFORMATION BY GEOGRAPHIC AREA

Net Sales (d)
In millions202320222021
United States (e)$16,340 $18,482 $16,769 
EMEA1,494 1,693 1,611 
Pacific Rim and Asia261 123 207 
Americas, other than U.S.821 863 776 
Net Sales$18,916 $21,161 $19,363 
Long-Lived Assets (f)
In millions20232022
United States$9,021 $9,333 
EMEA757 738 
Americas, other than U.S.390 378 
Long-Lived Assets$10,168 $10,449 
(a)Includes sales of $44 million in 2021 and operating profit (losses) of $9 million in 2021, from previously divested businesses. There were no sales or operating profit (losses) from previously divested businesses in 2022 and 2023.
(b)Operating profits for industry segments include each segment’s percentage share of the profits of subsidiaries included in that segment that are less than wholly-owned. The pre-tax earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings.
(c)Includes $44 million in 2021 from previously divested businesses.
(d)Net sales are attributed to countries based on the location of the seller.
(e)Export sales to unaffiliated customers were $2.7 billion in 2023, $3.2 billion in 2022 and $2.6 billion in 2021.
(f)Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net.