EX-99.2 3 dex992.htm SLIDES OF INTERNATIONAL PAPER COMPANY, DATED FEBRUARY 1, 2007 Slides of International Paper Company, dated February 1, 2007
Fourth Quarter
2006 Review
February 1, 2007
Fourth Quarter
2006 Review
February 1, 2007
John V. Faraci
Chairman & CEO
Marianne M. Parrs
EVP & CFO
John V. Faraci
Chairman & CEO
Marianne M. Parrs
EVP & CFO
Exhibit 99.2

2
Forward-Looking Statements
These
slides
and
statements
made
during
this
presentation
contain
forward-looking
statements.
These
statements
reflect
management's
current
views
and
are
subject
to
risks
and
uncertainties
that could cause actual results to differ materially from those expressed or implied in these
statements. Factors which could cause actual results to differ relate to: (i) industry conditions,
including changes in the cost or availability of raw materials and energy, changes in
transportation costs, competition, changes in the Company's product mix and demand and
pricing for the Company's products; (ii) market and economic factors, including changes in
international conditions, specifically in Brazil, Russia, Poland, China and South Korea, changes
in currency exchange rates, changes in credit ratings issued by nationally recognized statistical
rating organizations, pension and healthcare costs and natural disasters, such as hurricanes;
(iii) the Company's transformation plan, including the ability to continue to successfully execute
the
transformation
plan,
the
impact
of
the
plan
on
the
Company's
relationship with its
employees,
the
ability
to
realize
anticipated
profit
improvement
from the plan and the ability to
invest proceeds with attractive financial returns; (iv) the execution of sale transactions currently
under
contract
and
the
realization
of
anticipated
sales
proceeds
thereunder; and (v)
unanticipated expenditures related to the cost of compliance with environmental and other
governmental regulations and the uncertainty of the costs and other effects of potential
litigation. We undertake no obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise. These and other factors that
could
cause
or
contribute
to
actual
results
differing
materially
from such forward looking
statements are discussed in greater detail in the Company's Securities and Exchange
Commission filings.

3
uring
the
course
of
this
presentation,
certain
non-
U.S. GAAP financial information will be presented.
A reconciliation of those numbers to U.S. GAAP
financial measures is available on the company’s
website at www.internationalpaper.com
under
Investors.
Statements Relating to
Non-GAAP Financial Measures
D

4
Agenda
Fourth Quarter 2006 Review
Transformation Plan Update
First Quarter 2007 Outlook
2007 Priorities
Fourth Quarter 2006 Review
Transformation Plan Update
First Quarter 2007 Outlook
2007 Priorities

5
Fourth Quarter 2006 Summary
Best Fourth Quarter Since 1999
Volume
•
Seasonally slower in North America
•
Improved European and Brazilian volumes
Pricing
•
Papers improve in North America, Europe, and Brazil
•
Packaging flat
Manufacturing operations impacted by outages
Higher Real Estate sales, but reduced harvest income
Reduced corporate expense
Lower net interest expense
Reduced share count
Beverage Packaging and Wood Products included in
discontinued operations
Volume
•
Seasonally slower in North America
•
Improved European and Brazilian volumes
Pricing
•
Papers improve in North America, Europe, and Brazil
•
Packaging flat
Manufacturing operations impacted by outages
Higher Real Estate sales, but reduced harvest income
Reduced corporate expense
Lower net interest expense
Reduced share count
Beverage Packaging and Wood Products included in
discontinued operations

6
0.00
0.10
0.20
0.30
0.40
0.50
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
0.00
0.10
0.20
0.30
0.40
0.50
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2002
2003
2004
2005
2006
.10
.27
.26
.26
.11
.15
.11
.03
.02
.30
.16
.34
.27
.20
.17
.04
.12
.35
Diluted EPS from Continuing Operations
and Before Special Items
$/Share
* A reconciliation to GAAP EPS is available at www.internationalpaper.com
under Investors/Presentations
.40
.47

7
EPS $ / Share
EPS $ / Share
4Q ‘06 vs. 3Q ‘06
EPS from cont. ops before special items
NA Papers    .02
Int’l Papers    .02
IP Realty      .06                  
Land Sales  (.01)
NA Papers      (.03)
Others             (.01)
NA Papers          (.05)                  
NA Packaging     (.03)
Coated                  (.03)                  
Harvest Income    (.05)
LIFO      . 04                  
Benefits  .04
.47
.40
.04
.09
.08
.05
.04
(.08)
(.03)
(.08)
(.04)
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
3Q '
06
Price
Volume /
Downtime
Cost/Mix
Brazil
Outage
Real Estate
Corporate /
Other
Interest
Divestitures
Shares
4Q '
06

8
12M ‘06 vs. 12M ‘05
.70
1.33
.20
.32
.24
.80
(.19)
(.09)
(.24)
(.05)
(.36)
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
12M '05
Price
Volume /
Downtime
Cost/Mix
Materials /
Distrib
Real Estate
Corporate /
Other
Interest
Divestitures
Tax
12M '06
EPS $ / Share
EPS $ / Share
EPS from cont. ops before special items
Packaging    .35    
Papers          .44   
Other            .01
Chemicals           (.09)
Energy                  (.05)
Wood Cost          (.03)
Distribution          (.19)
2005   Tax rate 20%  
2006   Tax rate 29%
Coated                  (.04)                  
Harvest Income    (.05)
Pension   (.16)                      
Benefits   (.10)
Other         .02

9
Raw Material & Distribution Costs
EBIT impact 12M’06 vs. 12M’05
Total of $214 million or $0.36 per share 
negative impact in 12M’06 versus 12M’05
(130)
(110)
(90)
(70)
(50)
(30)
(10)
(130)
(110)
(90)
(70)
(50)
(30)
(10)
Energy
Distribution
Chemicals
EBIT ($MM)
(7)
(12)
(24)
(58)
Non-U.S.
Wood
(113)
1
All costs exclude coated papers and discontinued operations

10
0
4
8
12
16
20
0
4
8
12
16
20
2000
June
2001
Dec
2002
Dec
2003
Dec
2004
Dec
2005
Dec
17.9
15.2
14.8
15.5
14.6
12.2
$ Billion
Reduced total debt by  
$10.7 billion since June 2000
Debt Reduction
Except for December 2005 and January 2006, all periods include Carter Holt Harvey debt on IP’s balance sheet
7.2
2006
Dec
2005
June
13.4

11
Printing Papers
* Excluding a $128MM special charge
$  1,545
190*
Sales
Earnings
4Q’06
3Q’06
$ Millions
$ Millions
Uncoated
Pulp
Europe (uncoated)
Brazil (uncoated)
$9   
$21     
€16
R$20
Volume
Realizations/ton
$  1,670
249
4Q’06 Change vs 3Q’06:
4Q’06 Change vs 3Q’06:
(5%)
(9%)
8%
2%
Average IP realization (includes the impact of mix across all grades)

12
Industrial Packaging
Average IP realization (includes the impact of mix across all grades)
$  1,265
122    
Sales
Earnings
4Q’06
3Q’06
$ Millions
$ Millions
Containerboard
U.S. Container
$7
($4)
Volume
Realizations/ton
$ 1,250
125*
4Q’06 Change vs 3Q’06:
4Q’06 Change vs 3Q’06:
(4%)
(1%) 
* Excluding a $13MM special gain

13
Consumer Packaging
Average IP realization (includes the impact of mix across all grades)
$  665
28     
Sales
Earnings
4Q’06
3Q’06
$ Millions
$ Millions
Coated Paperboard
$8
Volume
Realizations/ton
$  645
48
4Q’06 Change vs 3Q’06:
4Q’06 Change vs 3Q’06:
(5%)
Converting Businesses
Sales Revenue
(4%)

14
Distribution
$ 1,715
31
Sales
Earnings
4Q’06
3Q’06
$ Millions
$ Millions
$ 1,730
34
Record fourth quarter EBIT; up 20%
compared to 2005
Record Year

15
Forest Resources
$  190
162 
Sales
Earnings
4Q’06
3Q’06
$ Millions
$  135
166

16
Special Items (net of tax & minority interest)
$2,740
•
Forestland Sale Gains
(759)
•
Goodwill Impairments
(84)
•
Saillat Mill Asset Impairment
(69)
•
Restructuring / Corporate
(4)
•
Tax Adjustment
7
•
Other
$4.06
$1,831
Total Special Items
Discontinued Operations (net of tax)
$(3)
•
Beverage Packaging
(94)
•
Wood Products
22
•
Weldwood Tariff Refund
4
•
Other Items
$(0.16)
$(71)
Total Discontinued Operations
$MM
$/Share
Special Items & Discontinued
Operations –
4Q’06

17
Earnings from Continuing Operations
and Before Special Items
$0.47
Special Items
4.06
Earnings from Continuing Operations
4.53
Discontinued Operations
(0.16)
Net Earnings
$4.37
Earnings from Continuing Operations
and Before Special Items
$0.47
Special Items
4.06
Earnings from Continuing Operations
4.53
Discontinued Operations
(0.16)
Net Earnings
$4.37
Reconciliation to 4Q’06
Diluted
Earnings Per Share
Diluted EPS

18
Special Items & Discontinued
Operations -
2006
22
•
Other
(185)
•
Restructuring / Corporate
Special Items (net of tax & minority interest)
$2,964
•
Forestlands Sale
(1,302)
•
Coated Papers Sale
78
•
Other Divestitures
(759)
•
Goodwill Impairment
(121)
•
Asset Impairment
(28)
•
Other
$1.32
$647
Total Special Items
Discontinued Operations (net of tax)
$(54)
•
Beverage Packaging
(244)
•
Wood Products
(46)
•
Kraft Papers
90
•
Brazil Coated Papers
$(0.47)
$(232)
Total Discontinued Operations
$MM
$/Share

19
Earnings from Continuing Operations
and Before Special Items
$1.33
Special Items
1.32
Earnings from Continuing Operations
2.65
Discontinued Operations
(0.47)
Net Earnings
$2.18
Earnings from Continuing Operations
and Before Special Items
$1.33
Special Items
1.32
Earnings from Continuing Operations
2.65
Discontinued Operations
(0.47)
Net Earnings
$2.18
Diluted EPS
Reconciliation to 2006
Diluted Earnings Per Share

20
2006 Summary
Best year since 2000
Strong price realizations
EBIT margin improved by 160
basis points
Continued improvement in our manufacturing
operations
Good cost control
Our supply/demand in balance
Significant progress in transforming International Paper
Best year since 2000
Strong price realizations
EBIT margin improved by 160
basis points
Continued improvement in our manufacturing
operations
Good cost control
Our supply/demand in balance
Significant progress in transforming International Paper
Solid Foundation for Continued Improvement

21
$.330 Billion 12M06
$1.4 Billion
$6.2 B Debt Reduction
$2.0 B Announced
Average Returns ~ 12%
Improve Existing Businesses
Improve Existing Businesses
Return Value to Shareholders
Return Value to Shareholders
Strengthen Balance Sheet
Strengthen Balance Sheet
Selective Reinvestment
Selective Reinvestment
$9.7 Billion Received
Divestitures
Divestitures
Transformation Plan Update
Fourth Quarter 2006
Announced Divestitures Proceeds Totaling $11.3 Billion
$1.0 B Pension Contribution

22
First Quarter 2007 Outlook
Volume -
seasonally stronger
Prices
•
Implementing IP’s previously announced containerboard and
coated board price increases
•
Implementing IP’s previously announced European and Brazilian
paper price increases
Continued progress in improving operations with fewer
mill outages
Input costs mixed and slightly higher
Lower real estate sales
First full quarter of IP/Sun Coated Paperboard JV
Addition of Luiz Antonio operations in Brazil
Volume -
seasonally stronger
Prices
•
Implementing IP’s previously announced containerboard and
coated board price increases
•
Implementing IP’s previously announced European and Brazilian
paper price increases
Continued progress in improving operations with fewer
mill outages
Input costs mixed and slightly higher
Lower real estate sales
First full quarter of IP/Sun Coated Paperboard JV
Addition of Luiz Antonio operations in Brazil

23
2007 Priorities
Improve Existing
Businesses
Deliver on earnings from
Selective Reinvestments
•
Luiz Antonio
•
IP/Sun JV
Return Value to
Shareholders
Improve Existing
Businesses
Deliver on earnings from
Selective Reinvestments
•
Luiz Antonio
•
IP/Sun JV
Return Value to
Shareholders
Building on a Solid 2006 
$400 MM Target
$165 MM
Up to $1.6 B

24
Q & A
Q & A

25
Appendix
Appendix

26
2006 Total Overhead Cost
Pension, Supply
Chain &
Commissions
$3.4 Billion
Overhead Cost
Base to Manage
$100 Million or 4% Improvement
Year-over-Year
28%
72%

27
Carter Holt
Harvey
Brazil Coated
Papers
US Coated
Papers
Kraft Papers
Forestlands
Wood Products
Arizona
Chemical
Consider
Strategic
Options
Distribute
Sales
Book
Evaluate
Bids
Sales
Agreement
Announced
Close
on
Sale
5.7 MM acres
Bev. Packaging
Proceeds
$1.1B
$0.4B
*Expected to close first half of 2007
$1.4B
$6.6B
Transformation Plan Update
Divestments status as of February 1, 2007
$0.2B
Total Proceeds
To date
$0.5B
$0.6B*
$0.5B*
$11.3B
1
Received $413 MM from the North American Portion of the Sale
1

28
Transformation Plan Update
2006 Results for Businesses Sold or Sale Announced
4,460
1,340
220
770
235
845
1,050
Sales
(MM)
Total
Wood Products
Forest Harvests/
Recreation
Income
Arizona Chemical
Kraft Papers
Beverage Pkg
US & Brazil
Coated Paper
Business
Forest Products
Forest Products
Other Businesses
Discontinued
Operations
Consumer Packaging
Printing Papers
Reporting Segment
350
(20)
125
60
40
50
95
Operating Profit
(MM)
Operating profit represents 12M’06 YTD, except for US and Brazil coated papers which are July and August YTD respectively

29
29%
$ 746 MM
$156 MM
$521 MM
$1.1 B
$1.1 B
2006
1
Effective Tax Rate
2
Corporate Items
Supply Chain Expense
Net Interest Expense
Depreciation & Amort.
Capital Spending
20%
$607 MM
$135 MM
$595 MM
$1.2 B
$1.1 B
2005
1
30-32%
$675 –
725 MM
$215 MM
$350-380 MM
$1.1 -1.2 B
$1.1-1.2 B
2007 Est.
1
Excludes discontinued operations result and Coated Papers
2
Before special items
Key Financial Statistics
Updated as of February 1, 2007

30
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Containerboard
Uncoated Papers
Pulp
Coated Paperboard
European Papers
*Includes indefinitely closed uncoated papers capacity at Pensacola, FL, Bastrop, LA and Jay, ME in 2Q05
(72,000 tons), 3Q05 (108,000 tons) and 4Q’05 (108,000 tons).  Permanently closed at end of 4Q’05.
168
44
49
232
Lack of Order Downtime
59
90
236
173
5
10
5
35
95
M  Short Tons
2002
2003
2004
2005
274*
270*
180*
25
2006
25
28
70

31
2
10
(19)
11
Q1’07 Period Impact
vs. Full-Year 2007
Amortization
$(MM)
Total Impact
Consumer Packaging
Industrial Packaging
Printing Papers
101,000
0
74,000
27,000
Maintenance
Outage
(tons)
Maintenance
outages
and
dollar
impacts
are
estimated
and
are
subject to change.
Q1’07 Maintenance Outages

32
Earnings by Industry Segment
Earnings by Industry Segment
Printing Papers
$190
$249
$64
805
$499
Industrial Packaging
122
125
5
386
223
Consumer Packaging
28
48
29
131
122
Distribution
31
34
25
128
84
Forest Products
162
166
224
678
732
Other Businesses
13
22
(6)
61
17
Operating Profit
546
644
341
2,189
1,677
Interest Expense
(86)
(144)
(152)
(527)
(649)
Minority Interest
3
-
3
8
-
Corporate Items, net
(166)
(221)
(173)
(746)
(607)
Earnings from continuing operations
before income taxes, minority
interest & special items
$297
$279
$19
$924
$421
Earnings by Industry Segment
Printing Papers
$190
$249
$64
805
$499
Industrial Packaging
122
125
5
386
223
Consumer Packaging
28
48
29
131
122
Distribution
31
34
25
128
84
Forest Products
162
166
224
678
732
Other Businesses
13
22
(6)
61
17
Operating Profit
546
644
341
2,189
1,677
Interest Expense
(86)
(144)
(152)
(527)
(649)
Minority Interest
3
-
3
8
-
Corporate Items, net
(166)
(221)
(173)
(746)
(607)
Earnings from continuing operations
before income taxes, minority
interest & special items
$297
$279
$19
$924
$421
$ Millions
3Q’06
3Q’06
4Q’05
4Q’05
4Q’06
4Q’06
2006
2006
2005
2005
Before special items
*Industry segment information has been reclassified to conform with minor changes in 2006 organizational structure
as well as to reflect Kraft Paper, the Brazil Coated Papers business, Wood Products and Beverage Packaging as discontinued operations.

33
Before Special Items
Q1
86
(22)
(5)
59
26%
486.3
0.12
Q2
262
(89)
(4)
169
34%
487.2
0.35
Q3
279
(78)
(5)
196
28%
484.9
0.40
Q4
297
(83)
(3)
211
28%
451.2
0.47
Full
Year
Total
924
(272)
(17)
635
29%
488.7
1.33
Special Items
Q1
(1,308)
38
-
(1,270)        
3%
486.3
(2.61)
Q2
(128)
45
-
(83)
35%
487.2
(0.17)
Q3
286
(117)
-
169
41%
484.9
0.35
Q4
3,414
(1,583)
-
1,831
46%
451.2
4.06
Full Year Total
2,264
(1,617)
-
647
71%
488.7
1.32
Earnings from Continuing Operations
Q1
(1,222)
16
(5)
(1,211)
1%
486.3
(2.49)
Q2
134
(44)
(4)
86
33%
487.2
0.18
Q3
565
(195)
(5)
365
35%
484.9
0.75
Q4
3,711
(1,666)
(3)
2,042
45%
451.2
4.53
Full Year Total
3,188
(1,889)
(17)
1,282
59%
488.7
2.65
2006 Earnings from Continuing
Operations
Pre-Tax 
Tax
MI
Net
ETR          Average
Diluted
Shares
2
EPS
1
$ MM
MM Shares
$/Share
$ MM
$ MM
$ MM
MI
–
Minority
Interest;
Net
–
Net
Income;
ETR
–
Effective
Tax
Rate;
EPS
–
Earnings per Share
1
A
reconciliation
to
GAAP
EPS
is
available
at
www.internationalpaper.com
under
Investor Information and the presentation tab
2
Assuming dilution

34
Before Special Items
Q1
151
(18)
(2)
131
12%
488.9
0.27
Q2
133
(32)
(2)
99
24%
487.4
0.20
Q3
118
(34)
(3)
81
29%
507.1
0.17
Q4
19
1
(2)
18
(5%)
486.0
0.04
Full Year Total
421
(83)
(9)
329
20%
507.0
0.70
Special Items
Q1
(103)
36
-
(67)
35%
488.9
(0.14)
Q2
37
(96)
-
(59)
259%
487.4
(0.12)
Q3
162
443
-
605
(273%)
507.1
1.19
Q4
(231)
107
-
(124)
46%
486.0
(0.26)
Full Year Total
(135)
490
-
355
363
507.0
0.70
Earnings from Continuing Operations
Q1
48
18
(2)
64
(38%)
488.9
0.13
Q2
170
(128)
(2)
40
75%
487.4
0.08
Q3
280
409
(3)
686
(146%)
507.1
1.36
Q4
(212)
108
(2)
(106)
51%
486.0
(0.22)
Full Year Total
286
407
(9)
684
(142%)
507.0
1.40
2005 Earnings from Continuing
Operations
Pre-Tax 
Tax
MI
Net
ETR          Average
Diluted
Shares
2
EPS
1
$ MM
MM Shares
$/Share
$ MM
$ MM
$ MM
MI
–
Minority
Interest;
Net
–
Net
Income;
ETR
–
Effective
Tax
Rate;
EPS
–
Earnings
per
Share
1
A
reconciliation
to
GAAP
EPS
is
available
at
www.internationalpaper.com
under
Investor
Information
and
the
presentation
tab
2
Assuming dilution

35
Corrugated boxes
* U.S. only.
Average IP realization (includes the impact of mix across all grades)
Average Sales Realizations
474
$/ton
Packaging
$/ton
Printing
Papers
Segments
3Q’06
Average Sales Realizations
4Q’05
897
790
512
Dec 06
Containerboard
Pulp
Uncoated
Grades*
4Q’06
Dec 05
2005
2004
2006
889
564
791
425
509
688
566
787
799
426
489
713
862
483
533
763
793
402
481
688
887
502
546
790
695
419
458
685

36
Forest Resources
Earnings Sources –
Gross Margin
•
Sales of Forestlands
$118
$125
$139
•
Harvest & Recreational Income
26
63
75
Forestland Expenses
(27)
(27)
(30)
Land Utilization (real estate),
Net of Expenses
45
5
40
Total EBIT
$162
$166
$224
Earnings Sources –
Gross Margin
•
Sales of Forestlands
$118
$125
$139
•
Harvest & Recreational Income
26
63
75
Forestland Expenses
(27)
(27)
(30)
Land Utilization (real estate),
Net of Expenses
45
5
40
Total EBIT
$162
$166
$224
$ Millions
3Q’06
3Q’06
4Q’05
4Q’05
4Q’06
4Q’06

37
Forest Resources 
Earnings Sources –
Gross Margin
•
Sales of Forestlands
$447
$400
$315
•
Harvest & Recreational Income
222
269
281
Forestland Expenses
(114)
(146)
(178)
Land Utilization (real estate),
Net of Expenses
124
198
124
Total EBIT
$679
$721
$542
Earnings Sources –
Gross Margin
•
Sales of Forestlands
$447
$400
$315
•
Harvest & Recreational Income
222
269
281
Forestland Expenses
(114)
(146)
(178)
Land Utilization (real estate),
Net of Expenses
124
198
124
Total EBIT
$679
$721
$542
$ Millions
2005
2005
2004
2004
2006
2006

38
Pension Returns
Average annualized returns
•
2006
14.9%
•
Past 5 years
11.5%
•
Past 10 years
10.0%
•
Portfolio asset allocation
(at 12/31/06)
•
62%
Equity
•
29%
Debt
•
9%
Real estate & other

39
(500)
(400)
(300)
(200)
(100)
0
5.75
5.50
5.75
Discount
Rate (%)
8.50
8.50
8.50
Rate of
Return (%)
2007E
2006
2005
$ Millions
2005
2006
2007E
Annual Pension Expense*
Key Variables
Pension Expense
*U.S. plans only.  Pension expense reflects service cost, interest cost,
amortization of actuarial losses and expected return on plan assets
(240)
(377)
(195)

40
2006 YTD Average
Index: Jan 2003 Natural Gas Costs = 100
2003
2004
Natural Gas Costs
2005
Trended higher in 4Q’06
2006
* NYMEX Natural Gas closing prices
0
50
100
150
200
250
300
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Jan
2005  Average

41
90
100
110
120
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Jan
U.S. Mill Wood Costs
Index: Jan 2003 Wood Costs = 100
2003
2004
* Delivered cost to U.S. pulp & paper mills
2005
2006
2006 YTD Average
2005  Average

42
0
100
200
300
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Jan
Apr
July
Oct
Index: Jan 2003 Caustic Soda Costs = 100
2003
2004
Caustic Soda Costs 
2005
Trended lower in 4Q’06 
2006
* Delivered cost to U.S. facilities
2006 YTD Average
2005  Average

43
Global Consumption 
Key input indicative annual purchase levels1
Natural Gas
MMbtu
28,000,000        14,000,000
# 6 Fuel Oil
BBL
4,100,000
400,000
Coal
Tons
1,300,000             230,000
Wood
Tons
40,000,000          8,200,000
OCC
3
Tons
600,000             313,000
Caustic Soda
Tons
340,000                55,000
Sodium Chlorate
Tons
215,000                49,000
LD Polyethylene
Tons
40,000                        -
Latex
Tons
24,000                  4,000
Energy  
Energy  
Fiber
Fiber
Chemicals
Chemicals
Units
Units
U.S.
2 
U.S.
2 
Non-
U.S.
Non-
U.S.
1
2006
Run Rate estimates
2
Excludes discontinued operations, Arizona Chemical  and US Coated Paper business

44