SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Note)

6 Months Ended

Jun. 30, 2024

Disclosure Text Block Supplement [Abstract]

Supplemental Financial Statement Information [Note Text Block]

Temporary Investments 

Temporary investments with an original maturity of three months or less and money market funds with greater than three month maturities but with the right to redeem without notices are treated as cash equivalents and stated at cost. Temporary investments totaled $862 million and $950 million at June 30, 2024 and December 31, 2023, respectively.

Accounts and Notes Receivable

In millions	June 30, 2024		December 31, 2023
Accounts and notes receivable, net:
Trade (less allowances of $30 in 2024 and $34 in 2023)	$	2,915	$	2,841
Other	282		218
Total	$	3,197	$	3,059

Inventories

In millions	June 30, 2024		December 31, 2023
Raw materials	$	203	$	229
Finished pulp, paper and packaging	857		975
Operating supplies	623		622
Other	45		63
Total	$	1,728	$	1,889

Plants, Properties and Equipment  

Accumulated depreciation was $19.9 billion and $19.6 billion at June 30, 2024 and December 31, 2023, respectively. Depreciation expense was $251 million and $235 million for the three months ended June 30, 2024 and 2023, respectively, and $519 million and $467 million for the six months ended June 30, 2024 and 2023, respectively.

Non-cash additions to plants, properties and equipment included within accounts payable were $63 million and $141 million at June 30, 2024 and December 31, 2023, respectively.

Accounts Payable  

Under a supplier finance program, International Paper agrees to pay a bank the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices. International Paper or the bank may terminate the agreement upon at least 90 days’ notice. The supplier invoices that have been confirmed as valid under the program require payment in full on the due date with no terms exceeding 180 days. The accounts payable balance included $110 million and $122 million of supplier finance program liabilities as of June 30, 2024 and December 31, 2023, respectively.

Interest

Interest payments made during the six months ended June 30, 2024 and 2023 were $222 million and $240 million, respectively.

Amounts related to interest were as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2024		2023		2024		2023
Interest expense	$	107	$	103	$	216	$	206
Interest income	52		44		115		85
Capitalized interest costs	6		6		8		11

Asset Retirement Obligations

The Company recorded liabilities in Other Liabilities in the accompanying condensed consolidated balance sheet of $104 million and $103 million related to asset retirement obligations at June 30, 2024 and December 31, 2023, respectively.