INDUSTRY SEGMENT INFORMATION (Note)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

International Paper’s business segments, Industrial Packaging and Global Cellulose Fibers, are consistent with the internal structure used to manage these businesses. 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 (losses) 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 (losses) are defined as earnings (loss) from continuing operations before income taxes and equity earnings, but including the impact of less than wholly owned subsidiaries, and excluding interest expense, net, corporate expenses, net, corporate net special items, business net special items and non-operating pension expense.

Net sales by business segment for the three months and six months ended June 30, 2024 and 2023 were as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2024		2023		2024		2023
Industrial Packaging	$	3,931	$	3,884	$	7,739	$	7,967
Global Cellulose Fibers	717		698		1,421		1,509
Corporate and Intersegment Sales	86		100		193		226
Net Sales	$	4,734	$	4,682	$	9,353	$	9,702

Operating profit (loss) by business segment for the three months and six months ended June 30, 2024 and 2023 were as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2024		2023		2024		2023
Industrial Packaging	$	291	$	304	$	507	$	626
Global Cellulose Fibers	31		30		(16)		14
Business Segment Operating Profit (Loss)	$	322	$	334	$	491	$	640
Net Earnings (Loss) From Continuing Operations	$	498	$	222	$	554	$	394
Add back (deduct):
Income tax provision (benefit)	(293)		33		(266)		81
Equity (earnings) loss, net of taxes	1		—		3		1
Earnings (loss) from continuing operations before income taxes and equity earnings	206		255		291		476
Interest expense, net	55		59		101		121
Adjustment for less than wholly owned subsidiaries	(1)		—		(3)		—
Corporate expenses, net	23		8		47		16
Corporate net special items	54		—		74		—
Business net special items	(5)		—		3		—
Non-operating pension expense (income)	(10)		12		(22)		27
Business Segment Operating Profit (Loss)	$	322	$	334	$	491	$	640