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0001193125-11-046928.txt : 20110225
0001193125-11-046928.hdr.sgml : 20110225
20110225130102
ACCESSION NUMBER: 0001193125-11-046928
CONFORMED SUBMISSION TYPE: 10-K
PUBLIC DOCUMENT COUNT: 24
CONFORMED PERIOD OF REPORT: 20101231
FILED AS OF DATE: 20110225
DATE AS OF CHANGE: 20110225
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: INTERNATIONAL PAPER CO /NEW/
CENTRAL INDEX KEY: 0000051434
STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621]
IRS NUMBER: 130872805
STATE OF INCORPORATION: NY
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 10-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-03157
FILM NUMBER: 11639762
BUSINESS ADDRESS:
STREET 1: 6400 POPLAR AVENUE
CITY: MEMPHIS
STATE: TN
ZIP: 38197
BUSINESS PHONE: 901-419-7000
MAIL ADDRESS:
STREET 1: 6400 POPLAR AVENUE
CITY: MEMPHIS
STATE: TN
ZIP: 38197
FORMER COMPANY:
FORMER CONFORMED NAME: INTERNATIONAL PAPER & POWER CORP
DATE OF NAME CHANGE: 19710527
10-K
1
d10k.htm
FORM 10-K
Form 10-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
x
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2010
or
¨
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from
to
Commission File No. 1-3157
INTERNATIONAL PAPER COMPANY
(Exact name of registrant as specified in its charter)
New York
13-0872805
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
6400
Poplar Avenue
Memphis, Tennessee
(Address of principal executive offices)
38197
(Zip Code)
Registrants
telephone number, including area code: (901) 419-7000
Securities registered
pursuant to Section 12(b) of the Act:
Title of each class
Name of each exchange on which registered
Common Stock, $1 per share par value
New York Stock Exchange
Securities Registered Pursuant to
Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the
Securities Act.
Yes
x No ¨
Indicate by check mark if the registrant is not
required to file reports pursuant to Section 13 or Section 15(d) of the Act.
Yes ¨ No x
Indicate by check mark whether the registrant
(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Company was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days. Yes x No ¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (paragraph 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨
Indicate by check mark if disclosure of delinquent
filers pursuant to Item 405 of Regulation S-K (paragraph 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this Form 10-K. ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See
definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
x
Accelerated filer
¨
Non-accelerated filer
¨
Smaller reporting company
¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes
¨ No x
The aggregate market value of the Companys
outstanding common stock held by non-affiliates of the registrant, computed by reference to the closing price as reported on the New York Stock Exchange, as of the last business day of the registrants most recently completed second fiscal
quarter (June 30, 2010) was approximately $9,806,064,660.
The number of shares outstanding of the Companys common stock, as of February 18, 2011
was 439,740,260.
Documents incorporated by reference:
Portions of the registrants proxy statement filed within 120 days of the close of the registrants fiscal year in connection with registrants 2011
annual meeting of shareholders are incorporated by reference into Part III of this Form 10-K.
INTERNATIONAL PAPER COMPANY
INDEX TO ANNUAL REPORT ON FORM 10-K
FOR THE YEAR ENDED DECEMBER 31, 2010
i
INTERNATIONAL PAPER COMPANY
INDEX TO ANNUAL REPORT ON FORM 10-K
FOR THE YEAR ENDED DECEMBER 31, 2010
ii
PART I.
ITEM 1. BUSINESS
GENERAL
International Paper Company (the Company or International Paper, which may also be referred to as we or
us) is a global paper and packaging company that is complemented by an extensive North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and
North Africa. We are a New York corporation, incorporated in 1941 as the successor to the New York corporation of the same name organized in 1898. Our home page on the Internet is www.internationalpaper.com. You can learn more about us by visiting
that site.
In the United States at December 31, 2010, the Company operated 20 pulp, paper and packaging mills, 144 converting and
packaging plants, 19 recycling plants and three bag facilities. Production facilities at December 31, 2010 in Europe, Asia, Latin America and South America included eight pulp, paper and packaging mills, 67 converting and packaging plants, and
two recycling plants. We distribute printing, packaging, graphic arts, maintenance and industrial products principally through over 224 distribution branches in the United States and 38 distribution branches located in Canada, Mexico and Asia. At
December 31, 2010, we owned or managed approximately 250,000 acres of forestland in Brazil and had, through licenses and forest management agreements, harvesting rights on government-owned forestlands in Russia. Substantially all of our
businesses have experienced, and are likely to continue to experience, cycles relating to industry capacity and general economic conditions.
For management and financial reporting purposes, our businesses are separated into five segments: Industrial Packaging; Printing Papers; Consumer Packaging; Distribution; and Forest Products. Beginning on January
1, 2011, the Forest Products business will no longer be reported by the Company as a separate industry segment due to the immateriality of the results of the remaining business on the Companys consolidated financial statements. A description
of these business segments can be found on pages 26 and 27 of Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations. The Companys 50% equity interest in Ilim Holding S.A. is also a separate
reportable industry segment.
From 2006 through 2010, International Papers capital expenditures approximated $4.7 billion,
excluding
mergers and acquisitions. These expenditures reflect our continuing efforts to improve product quality and environmental performance, as well as lower costs, maintain reliability of operations
and improve forestlands. Capital spending for continuing operations in 2010 was approximately $775 million and is expected to be approximately $1.2 to $1.3 billion in 2011. You can find more information about capital expenditures on page 34 of
Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations.
Discussions of acquisitions
can be found on pages 34 and 35 of Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations.
You can find discussions of restructuring charges and other special items on pages 23 and 24 of Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations.
Throughout this Annual Report on Form 10-K, we incorporate by reference certain information in parts of other documents filed with
the Securities and Exchange Commission (SEC). The SEC permits us to disclose important information by referring to it in that manner. Please refer to such information. Our annual reports on Form 10-K, quarterly reports on Form 10-Q and current
reports on Form 8-K, along with all other reports and any amendments thereto filed with or furnished to the SEC, are publicly available free of charge on the Investor Relations section of our Internet Web site at www.internationalpaper.com as
soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. The information contained on or connected to our Web site is not incorporated by reference into this Form 10-K and should not be considered
part of this or any other report that we filed with or furnished to the SEC.
FINANCIAL INFORMATION CONCERNING INDUSTRY
SEGMENTS
The financial information concerning segments is set forth in Note 18 Financial Information by Industry Segment and
Geographic Area on pages 89 through 91 of Item 8. Financial Statements and Supplementary Data.
FINANCIAL INFORMATION
ABOUT INTERNATIONAL AND U.S. OPERATIONS
The financial information concerning international and U.S. operations and export sales is
set forth in Note 18 Financial Information by Industry Segment and Geographic Area on pages 90 and 91 of Item 8. Financial Statements and Supplementary Data.
1
COMPETITION AND COSTS
Despite the size of the Companys manufacturing capacity for paper, packaging and pulp products, the markets in all of the cited product lines
are large and fragmented. The major markets, both U.S. and non-U.S., in which the Company sells its principal products are very competitive. Our products compete with similar products produced by other forest products companies. We also compete, in
some instances, with companies in other industries and against substitutes for wood and wood-fiber products.
Many factors influence the
Companys competitive position, including price, cost, product quality and services. You can find more information about the impact of price and cost on operating profits on pages 18 through 33 of Item 7. Managements Discussion and
Analysis of Financial Condition and Results of Operations. You can find information about the Companys manufacturing capacities on page A-4 of Appendix II.
MARKETING AND DISTRIBUTION
The Company sells paper, packaging products and other products directly to end users and converters, as well as through agents, resellers and paper
distributors. We own a large merchant distribution business that sells products made both by International Paper and by other companies making paper, paperboard, packaging and graphic arts supplies. Sales offices are located throughout the United
States as well as internationally.
DESCRIPTION OF PRINCIPAL PRODUCTS
The Companys principal products are described on pages 26 and 27 of Item 7. Managements Discussion and Analysis of Financial
Condition and Results of Operations.
2
SALES VOLUMES BY PRODUCT
Sales volumes of major products for 2010, 2009 and 2008 were as follows:
Sales Volumes by Product (1) (2)
In thousands of short tons
2010
2009
2008
Industrial Packaging
Corrugated Packaging (3)
7,525
7,313
5,298
Containerboard (3)
2,458
2,258
2,305
Recycling (3)
2,486
2,280
966
Saturated Kraft
176
126
170
Bleached Kraft
85
72
82
European Industrial Packaging
1,040
1,046
1,123
Asian Box (4)
307
149
137
Asian Distribution
360
465
431
Industrial Packaging
14,437
13,709
10,512
Printing Papers
U.S. Uncoated Papers
2,695
2,882
3,397
European and Russian Uncoated Papers
1,235
1,336
1,461
Brazilian Uncoated Papers
1,081
1,007
853
Asian Uncoated Papers
96
81
27
Uncoated Papers
5,107
5,306
5,738
Market Pulp (5)
1,422
1,524
1,604
Consumer Packaging
U.S. Coated Paperboard
1,398
1,242
1,591
European Coated Paperboard
351
354
311
Asian Coated Paperboard
870
859
550
Other Consumer Packaging
174
169
178
Consumer Packaging
2,793
2,624
2,630
(1)
Includes third-party and inter-segment sales and excludes sales of equity investees.
(2)
Sales volumes for divested businesses are included through the date of sale, except for discontinued operations.
(3)
Includes Weyerhaeuser Companys Containerboard, Packaging and Recycling (CBPR) business volumes from date of acquisition in August 2008.
(4)
Includes SCA Packaging volumes from date of acquisition in June 2010.
(5)
Includes internal sales to mills.
3
RESEARCH AND DEVELOPMENT
The Company operates its primary research and development center in Loveland, Ohio, as well as several product laboratories. Additionally, the
Company has an interest in ArborGen, Inc., a joint venture with certain other forest products companies.
We direct research and
development activities to short-term, long-term and technical assistance needs of customers and operating divisions, and to process, equipment and product innovations. Activities include studies on innovation and improvement of pulping, bleaching,
chemical recovery, papermaking and coating processes; packaging design and materials development; reduction of environmental discharges; re-use of raw materials in manufacturing processes; recycling of consumer and packaging paper products; energy
conservation; applications of computer controls to manufacturing operations; innovations and improvement of products; and development of various new products. Our development efforts specifically address product safety as well as the minimization of
solid waste. The cost to the Company of its research and development operations was $12 million in 2010, $13 million in 2009 and $22 million in 2008. The decrease in cost beginning in 2009 reflects cost cutting measures.
We own numerous patents, copyrights, trademarks and trade secrets relating to our products and to the processes for their production. We also
license intellectual property rights to and from others where necessary. Many of the manufacturing processes are among our trade secrets. Some of our products are covered by U.S. and non-U.S. patents and are sold under well known trademarks. We
derive a competitive advantage by protecting our trade secrets, patents, trademarks and other intellectual property rights, and by using them as required to support our businesses.
ENVIRONMENTAL PROTECTION
International Paper is subject to
extensive federal and state environmental regulation as well as similar regulations internationally. Our continuing objectives include: (1) controlling emissions and discharges from our facilities into the air, water and groundwater to avoid
adverse impacts on the environment, and (2) maintaining compliance with applicable laws and regulations. A total of $62 million was spent in 2010 for capital projects to control environmental releases into the air and water, and to assure
environmentally sound management and disposal of
waste. We expect to spend approximately $90 million in 2011 for similar capital projects.
In the U.S., the Environmental Protection Agency (EPA) proposed or finalized a number of new rules, including Greenhouse Gas Mandatory Reporting (see Climate Change section), Boiler MACT (see below), and more
restrictive National Ambient Air Quality Standards (NAAQSs). During 2010, new NAAQSs were promulgated for nitrogen oxide (NOx) and sulfur dioxide (SO 2 ) and we anticipate that over the next 12-18 months additional NAAQSs will also be promulgated. Once implemented these rules could
require significant investments of capital and/or operational changes that could potentially have a material impact on International Paper.
In June 2010, the EPA published four inter-related proposed rules commonly and collectively referred to as Boiler MACT. As proposed, these rules require owners of specified boilers to meet very strict
air emission standards for certain substances. The promulgation of these rules has been subject to litigation among various parties and the EPA over a period of several years. In late December 2010, the EPA filed a motion with the U.S. District
Court for the District of Columbia to further extend the time to promulgate the Boiler MACT rules for an additional 15 months to take into account the voluminous amount of new data EPA received in the comment period. On January 20, 2011, the
Court denied EPAs request and granted only one additional month (until February 21, 2011) to complete the rulemaking. On that same day, EPA announced in a press release that it will issue rules by the court-imposed deadline but indicated
that the rules will be significantly different than previously proposed. Given EPAs press release, International Paper cannot speculate on what the rules will require, or their impact on the amount or timing of any related future
capital expenditures. The amount we will spend for environmental control projects in future years will also depend on other new laws and regulations and changes in rules that are likely to be promulgated, such as NAAQSs.
Recognizing these many uncertainties, our forecasts include an estimate of future expenditures that may be required for Boiler MACT and other
regulatory initiatives. These amounts represent our current best estimate of future expenditures, which we believe are likely to change once the regulatory landscape becomes clearer. Our preliminary estimate for environmental control expenditures is
approximately $300 million for 2012 and approximately $350 million for 2013. When regulatory requirements regarding
4
Boiler MACT become final, including likely subsequent legal challenges, the Companys environmental, manufacturing and legal professionals will need time to assess fully the potential
impacts on our Company before we will be able to provide a more precise estimate of future environmental control expenditures.
CLIMATE CHANGE
Since 1997, when an international conference on global warming concluded with an agreement known as the Kyoto Protocol, which
called for reductions of certain emissions that may contribute to increases in atmospheric greenhouse gas concentrations, there have been a range of international, national and sub-national regulations proposed or implemented focusing on greenhouse
gas reduction. These actual or proposed regulations apply currently or will apply in countries where we currently have, or may in the future have, manufacturing facilities or investments.
While the European Union (EU) has ratified the Kyoto Protocol, the framework of the Kyoto Protocol does not apply to underdeveloped
nations. Three countries where we have operations, Brazil, Morocco, and China, are considered underdeveloped nations by the Kyoto Protocol. Although not subject to the Kyoto Protocol, Brazil and China may adopt greenhouse gas regulations in
the future that may have a material effect on our operations in these countries. Unless extended, the Kyoto Protocol expires in 2012. A successor to the Kyoto Protocol is under negotiation at the international level. Due to the lack of clarity
around the post-2012 climate control regime, it is not possible at this time to estimate with any certainty the potential impacts of future international agreements on International Papers operations.
Under the European Emissions Trading System (EUETS), the EU has committed to greenhouse gas reductions. International Paper had two sites covered
by the EUETS in 2010. While these measures did not have an adverse effect on our European operations in 2010, nor are they expected to have such an impact in 2011, they may have a material adverse effect in the future.
The U.S. has not ratified the Kyoto Protocol nor have efforts in the U.S. Congress to legislate the control of greenhouse gas (GHG) emissions been
successful. To date, the activity in the U.S. has been spearheaded by the U.S. EPA and, to some extent, by the states. Pursuant to its GHG Mandatory Reporting
Rule promulgated in 2009, EPA began a process to collect data on emitters of greater than 25,000 tons of greenhouse gas per year. Twenty of our U.S. facilities are covered by and will make
reports as required under this new rule. We do not believe that the reporting rule will have a material impact on our operations. Additionally, the EPA has indicated that it will propose New Source Performance Standards (NSPS) for various industry
sectors which will limit GHG emissions from certain sources. Currently, the EPA has not identified the pulp and paper industry in the first phase of sectors to be covered by the new standards. However, we anticipate that, at some future time, pulp
and paper sources will be subject to new NSPS rules. It is uncertain what impacts, if any, future NSPS will have on International Papers operations.
Some U.S. states have considered legal measures to require the reduction of emissions of greenhouse gases by companies and public utilities, primarily through the planned development of greenhouse gas emission
inventories or regional greenhouse gas cap-and-trade programs. One such state is California where International Paper has one site subject to Californias GHG regulatory plan. The final California rules are still being developed and do not take
effect until 2012. Until the rules are finalized, it is unknown whether there will be any adverse impact on our California facility.
It
is difficult to predict whether passage of climate control legislation or other regulatory initiatives by Congress or various U.S. states, or the adoption of regulations by the EPA or analogous state agencies that restrict emissions of greenhouse
gases in areas in which we conduct business, may have a material effect on our operations in the U.S. In addition to possible direct impacts, future legislation and regulation could have indirect adverse effects on International Paper, such as
higher prices for transportation, energy and other inputs, as well as more protracted air permitting processes, causing delays and higher costs to implement capital projects.
International Paper has controls and procedures in place to stay adequately informed about developments concerning possible climate change legislation and regulation in the U.S. and in other countries where we
operate to ensure we continue to assess whether such legislation or regulation may have a material adverse effect on the Company, its operations or financial condition, and whether we have any related disclosure obligations.
5
In summary, regulation of greenhouse gases continues to evolve in various countries in which we do
business. While it is likely that there will be increased regulation relating to greenhouse gases and climate change, at this time it is not reasonably possible to estimate either a timetable for the implementation of any new regulations or our
costs of compliance.
Additional information regarding climate change and International Paper, including our carbon footprint, is
available at http://internationalpaper.com/US/EN/ Company/Sustainability/Climate.html.
EMPLOYEES
As of December 31, 2010, we had approximately 59,500 employees, 36,120 of whom were located in the United States. Of the U.S. employees,
approximately 23,460 are hourly, with unions representing approximately 13,920 employees. Approximately 10,000 of the union employees are represented by the United Steel Workers (USW).
International Paper and the USW entered into the 2007 Mill Agreement in July 2007, which established the framework for bargaining future local
labor contracts at 14 of our U.S. pulp, paper and packaging mills. In November 2009, International Paper and the USW reached an agreement to integrate into the 2007 Mill Agreement the four mills we acquired from Weyerhaeuser Company in August 2008.
In April 2008, we entered into the 2008 Converting Agreement, which similarly establishes the framework for bargaining future local
labor contracts at 32 of our converting facilities. In March 2010, International Paper and the USW reached an agreement to integrate into the 2008 Converting Agreement the 20 facilities we acquired from Weyerhaeuser Company in August 2008.
These two agreements, the Mill and Converting Agreements, cover several specific items, including but not limited to wages, active
medical benefits, successorship, employment security and health and safety. If local facility agreements are not successfully negotiated at the time of expiration, then, under the 2007 Mill Agreement and 2008 Converting Agreement, the local facility
agreements will automatically renew with the same terms in effect at the time of expiration. Individual facilities continue to have local agreements for other items not covered by these agreements.
During 2010, labor agreements for four mills expired. Three of the four, Port Hueneme, California, Red River, Louisiana and Riegelwood, North
Carolina are
covered by the 2007 Mill Agreement. Local agreements at Port Hueneme and Red River renewed with the same terms. Minor changes were negotiated at Courtland, Alabama (non-exempt union not covered
by the 2007 Mill Agreement) and Riegelwood.
During 2011, labor agreements that are scheduled to expire at the mills in Georgetown,
South Carolina, Riverdale (Selma), Alabama and Vicksburg, Mississippi will automatically renew under the terms of the 2007 Mill Agreement if new agreements are not reached.
With regard to converting facilities, during 2010 International Paper negotiated six contracts covering 13 locations represented by IBT District Council 2. Labor agreements were renewed at Omaha, Nebraska,
Springhill, Louisiana, Butler, Indiana, Forest Park, Georgia, Three Rivers, Michigan and Mount Carmel, Pennsylvania pursuant to the 2008 Converting Agreement. Labor agreements were negotiated at two additional converting facilities covered by the
2008 Converting Agreement (Magnolia, Mississippi and Bellmawr, New Jersey). Labor agreements also were reached at seven additional converting, distribution and consumer packaging locations that were not covered by the 2008 Converting Agreement. A
one year extension was negotiated at Louisville, Kentucky.
Additionally during 2010, International Paper announced the shutdown of
facilities in Jonesboro, Arkansas, Newport News, Virginia, Spartanburg, North Carolina and Bellevue, Washington. Effects of the closings were bargained where applicable.
During 2011, 20 labor agreements are scheduled to be negotiated in 19 converting, distribution and consumer packaging facilities. Seven of these agreements will automatically renew under the terms of the 2008
Converting Agreement if new agreements are not reached. Thirteen of these agreements are not covered by the 2008 Converting Agreement.
EXECUTIVE OFFICERS OF THE REGISTRANT
John V. Faraci, 61, chairman and chief executive officer since 2003. Mr. Faraci
joined International Paper in 1974.
John N. Balboni, 62, senior vice president and chief information officer since 2005.
Mr. Balboni joined International Paper in 1978.
6
C. Cato Ealy, 54, senior vice president corporate development since 2003. Mr. Ealy is a
director of Ilim Holding S.A., a Swiss holding company in which International Paper holds a 50% interest, and of its subsidiary, Ilim Group. Mr. Ealy joined International Paper in 1992.
Tommy S. Joseph, 51, senior vice president manufacturing, technology, EHS&S and global sourcing since January 2010. Mr. Joseph
previously served as senior vice president manufacturing, technology, EHS&S from February to December 2009, and vice president technology from 2005 to February 2009. Mr. Joseph is a director of Ilim Holding S.A., a Swiss
holding company in which International Paper holds a 50% interest, and of its subsidiary, Ilim Group. Mr. Joseph joined International Paper in 1983.
Thomas G. Kadien, 54, senior vice president consumer packaging and IP Asia since January 2010. Mr. Kadien previously served as senior vice president and president xpedx from 2005 to 2009.
Mr. Kadien joined International Paper in 1978.
Paul J. Karre, 58, senior vice president human resources and communications
since May 2009. Mr. Karre previously served as vice president human resources from 2000 to 2009. Mr. Karre joined International Paper in 1974.
Mary A. Laschinger, 50, senior vice president since 2007 and president xpedx since January 2010. Ms. Laschinger previously served as president IP Europe, Middle East, Africa and Russia
from 2005 to 2009. Ms. Laschinger joined International Paper in 1992.
Tim S. Nicholls, 49, senior vice president and chief
financial officer since December 2007. Mr. Nicholls previously served as vice president and executive project leader of IP Europe during 2007. Mr. Nicholls served as vice president and chief financial officer IP Europe from 2005 to
2007. Mr. Nicholls joined International Paper in 1991.
Maximo Pacheco, 58, senior vice president since 2005 and president
IP Europe, Middle East, Africa and Russia since January 2010. Mr. Pacheco previously served as president IP do Brasil from 2004 to 2009. Mr. Pacheco is a director of Ilim Holding S.A., a Swiss holding company in which International
Paper holds a 50% interest, and of its subsidiary, Ilim Group. Mr. Pacheco joined International Paper in 1994.
Carol L. Roberts,
51, senior vice president industrial packaging since 2008. Ms. Roberts previously served
as senior vice president IP packaging solutions from 2005 to 2008. Ms. Roberts joined International Paper in 1981.
Maura A. Smith, 55, senior vice president, general counsel, corporate secretary and global government relations since 2003. Ms. Smith joined
International Paper in 2003.
Mark S. Sutton, 49, senior vice president printing and communications papers of the Americas since
January 2010. Mr. Sutton previously served as senior vice president supply chain from 2008 to 2009, and vice president supply chain from 2007 until 2008. Mr. Sutton served as vice president strategic planning from 2005
to 2007. Mr. Sutton joined International Paper in 1984.
Terri L. Herrington, 55, vice president finance and controller
since February 2011. Ms. Herrington previously served as vice president, finance consumer packaging from 2009 to 2011 and vice president internal audit from 2007 to 2009. Ms. Herrington previously served as director of audit
for finance and financial control for BP p.l.c. from 2003 to 2007. Ms. Herrington joined International Paper in 2007.
RAW MATERIALS
Raw materials essential to our businesses include wood fiber, purchased in the form of pulpwood, wood chips and old corrugated containers (OCC),
and certain chemicals, including caustic soda and starch. Information concerning fiber supply purchase agreements that were entered into in connection with the Companys 2006 Transformation Plan is presented in Note 10 Commitments and
Contingent Liabilities on page 71 of Item 8. Financial Statements and Supplementary Data.
FORWARD-LOOKING STATEMENTS
Certain statements in this Annual Report on Form 10-K, and in particular, statements found in Item 7. Managements
Discussion and Analysis of Financial Condition and Results of Operations, that are not historical in nature may constitute forward-looking statements. These statements are often identified by the words, will, may,
should, continue, anticipate, believe, expect, plan, appear, project, estimate, intend, and words of a similar nature. Such
statements reflect the current views of International Paper with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these
statements. Factors
7
which could cause actual results to differ relate to: (i) increases in interest rates; (ii) industry conditions, including but not limited to changes in the cost or availability of raw
materials, energy and transportation costs, competition we face, cyclicality and changes in consumer preferences, demand and pricing for our products; (iii) global economic conditions and political changes, including but not limited to the
impairment of financial institutions, changes in currency exchange rates, credit ratings issued by recognized credit rating organizations, the amount of our future pension funding obligation, changes in tax laws and pension and health care costs;
(iv) unanticipated expenditures related to the cost of compliance with existing and new environmental and other governmental regulations and to actual or potential litigation; and (v) whether we experience a material disruption at one of
our manufacturing facilities and risks inherent in conducting business through a joint venture. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
ITEM 1A. RISK FACTORS
In addition to the risks and uncertainties discussed elsewhere in this Annual Report on Form 10-K (particularly in Item 7. Managements Discussion and Analysis of Financial Condition and Results of
Operations), or in the Companys other filings with the Securities and Exchange Commission, the following are some important factors that could cause the Companys actual results to differ materially from those projected in any
forward-looking statement.
RISKS RELATING TO INDUSTRY CONDITIONS
CHANGES IN THE COST OR AVAILABILITY OF RAW MATERIALS, ENERGY AND TRANSPORTATION COULD AFFECT OUR PROFITABILITY. We rely heavily on the use of certain raw materials (principally virgin wood fiber, recycled
fiber, caustic soda and starch), energy sources (principally natural gas, coal and fuel oil) and third-party companies that transport our goods. The market price of virgin wood fiber varies based upon availability and source. In addition, the
increase in demand of products manufactured, in whole or in part, from recycled fiber, on a global basis, may cause an occasional tightening in the supply of recycled fiber. Energy prices, in particular prices for oil and natural gas, have
fluctuated dramatically in the past and may continue to fluctuate in the future.
Our profitability has been, and will continue to be, affected by changes in the costs and availability of such raw materials, energy sources and transportation sources.
THE INDUSTRIES IN WHICH WE OPERATE EXPERIENCE BOTH ECONOMIC CYCLICALITY AND CHANGES IN CONSUMER PREFERENCES. FLUCTUATIONS IN THE PRICES OF, AND
THE DEMAND FOR, OUR PRODUCTS COULD MATERIALLY AFFECT OUR FINANCIAL CONDITION, RESULTS OF OPERATIONS AND CASH FLOWS. Substantially all of our businesses have experienced, and are likely to continue to experience, cycles relating to industry
capacity and general economic conditions. The length and magnitude of these cycles have varied over time and by product. In addition, changes in consumer preferences may increase or decrease the demand for our fiber-based products and non-fiber
substitutes. Consequently, our operating cash flow is sensitive to changes in the pricing and demand for our products.
COMPETITION
IN THE UNITED STATES AND INTERNATIONALLY COULD NEGATIVELY IMPACT OUR FINANCIAL RESULTS. We operate in a competitive environment, both in the United States and internationally, in all of our operating segments. Product or pricing strategies
pursued by competitors could negatively impact our financial results.
RISKS RELATING TO MARKET AND ECONOMIC FACTORS
ADVERSE DEVELOPMENTS IN GENERAL BUSINESS AND ECONOMIC CONDITIONS COULD HAVE AN ADVERSE EFFECT ON THE DEMAND FOR OUR PRODUCTS AND OUR FINANCIAL
CONDITION AND RESULTS OF OPERATIONS. General economic conditions may adversely affect industrial non-durable goods production, consumer spending, commercial printing and advertising activity, white-collar employment levels and consumer
confidence, all of which impact demand for our products. In addition, a return to volatility in the capital and credit markets, which impacts interest rates, currency exchange rates and the availability of credit, could have a material adverse
effect on our business, financial condition and our results of operations.
CHANGES IN CREDIT RATINGS ISSUED BY NATIONALLY RECOGNIZED
STATISTICAL RATING ORGANIZATIONS COULD ADVERSELY AFFECT OUR COST OF FINANC ING AND HAVE AN ADVERSE EFFECT ON THE
8
MARKET PRICE OF OUR SECURITIES. Maintaining an investment-grade credit rating is an important element of our financial strategy, and a downgrade of our Companys ratings below
investment grade may limit our access to the capital markets, have an adverse effect on the market price of our securities, and increase our cost of borrowing and require us to post collateral for derivatives in a net liability position. Similarly,
we are subject to the risk that one of the banks that has issued irrevocable letters of credit supporting the installment notes issued in connection with sales of our forestlands is downgraded below a required rating. If this were to happen, it may
subject the Company to additional costs of securing a replacement letter-of-credit bank or could result in an acceleration of deferred taxes if a replacement bank cannot be obtained.
THE IMPAIRMENT OF FINANCIAL INSTITUTIONS MAY ADVERSELY AFFECT US. We have exposure to counterparties with which we execute transactions,
including U.S. and foreign commercial banks, insurance companies, investment banks, investment funds and other financial institutions, some of which may be exposed to ratings downgrade, bankruptcy, liquidity, default or similar risks, especially in
connection with recent financial market turmoil. A ratings downgrade, bankruptcy, receivership, default or similar event involving a counterparty may adversely affect our access to capital, liquidity position, future business and results of
operations.
OUR PENSION AND HEALTH CARE COSTS ARE SUBJECT TO NUMEROUS FACTORS WHICH COULD CAUSE THESE COSTS TO CHANGE. We have
defined benefit pension plans covering substantially all U.S. salaried employees hired prior to July 1, 2004 and substantially all hourly and union employees regardless of hire date. We provide retiree health care benefits to certain of our
U.S. salaried and certain hourly employees. Our pension costs are dependent upon numerous factors resulting from actual plan experience and assumptions of future experience. Pension plan assets are primarily made up of equity and fixed income
investments. Fluctuations in actual equity market returns, changes in general interest rates and changes in the number of retirees may result in increased pension costs in future periods. Likewise, changes in assumptions regarding current discount
rates and expected rates of return on plan assets could also increase pension and health care costs. Significant changes in any of these factors may adversely impact our cash flows, financial condition and results of operations.
OUR PENSION PLANS ARE CURRENTLY UNDERFUNDED, AND OVER TIME WE MAY BE REQUIRED TO MAKE CASH
PAYMENTS TO THE PLANS, REDUCING THE CASH AVAILABLE FOR OUR BUSINESS. We record a liability associated with our pension plans equal to the excess of the benefit obligation over the fair value of plan assets. The benefit liability recorded under
the provisions of Accounting Standards Codification (ASC) 715, Compensation Retirement Benefits, at December 31, 2010 was $1.5 billion. The amount and timing of future contributions will depend upon a number of factors,
principally the actual earnings and changes in values of plan assets and changes in interest rates.
CHANGES IN INTERNATIONAL
CONDITIONS COULD ADVERSELY AFFECT OUR BUSINESS AND RESULTS OF OPERATIONS. Our operating results and business prospects could be substantially affected by risks related to the countries outside the United States in which we have manufacturing
facilities or sell our products. Specifically, Brazil, Russia, Poland and China, where we have substantial manufacturing facilities, are countries that are exposed to economic and political instability in their respective regions of the world.
Downturns in economic activity, adverse tax consequences, fluctuations in the value of local currency versus the U.S. dollar, nationalization or any change in social, political or labor conditions in any of these countries or regions could
negatively affect our financial results.
RISKS RELATING TO LEGAL PROCEEDINGS AND COMPLIANCE COSTS
EXPENDITURES RELATED TO THE COST OF COMPLIANCE WITH ENVIRONMENTAL, HEALTH AND SAFETY LAWS AND REQUIREMENTS COULD ADVERSELY AFFECT OUR BUSINESS
AND RESULTS OF OPERATIONS. Our operations are subject to U.S. and non-U.S. laws and regulations relating to the environment, health and safety. There can be no assurance that future remediation requirements and compliance with existing
and new laws and requirements, including with global climate change laws and regulations, Boiler MACT and National Ambient Air Quality Standards (NAAQSs), will not require significant expenditures, or that existing reserves for specific matters will
be adequate to cover future costs.
RESULTS OF LEGAL PROCEEDINGS COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR CONSOLIDATED FINANCIAL
STATEMENTS. The costs and other effects of pending litigation
9
against us cannot be determined with certainty. Although we believe that the outcome of any pending or threatened lawsuits or claims, or all of them combined, will not have a material adverse
effect on our business or consolidated financial statements, there can be no assurance that the outcome of any lawsuit or claim will be as expected.
RISKS RELATING TO OUR OPERATIONS
MATERIAL DISRUPTIONS AT ONE OF OUR MANUFACTURING FACILITIES COULD NEGATIVELY IMPACT OUR FINANCIAL RESULTS. We operate our facilities in
compliance with applicable rules and regulations and take measures to minimize the risks of disruption at our facilities. A material disruption at our corporate headquarters or one of our manufacturing facilities could prevent us from meeting
customer demand, reduce our sales and/or negatively impact our financial condition. Any of our manufacturing facilities, or any of our machines within an otherwise operational facility, could cease operations unexpectedly due to a number of events,
including:
fires, floods, earthquakes, hurricanes or other catastrophes;
the effect of a drought or reduced rainfall on its water supply;
terrorism or threats of terrorism;
domestic and international laws and regulations applicable to our Company and our business partners, including joint venture partners, around the
world;
unscheduled maintenance outages;
prolonged power failures;
a chemical spill or release;
disruptions in the transportation infrastructure, including roads, bridges, railroad tracks and tunnels;
labor difficulties; and
other operational problems.
Any such downtime or facility damage could prevent us from meeting customer demand for our products
and/or require us to make unplanned capital expenditures. If one of these machines or facilities were to incur significant downtime, our ability to meet our production targets and satisfy customer requirements could be impaired, resulting in lower
sales and having a negative effect on our business and financial results.
SEVERAL OPERATIONS ARE CONDUCTED BY JOINT VENTURES THAT WE
CANNOT OPERATE SOLELY FOR OUR BENEFIT. Several operations, particularly in emerging markets, are carried on by joint ventures such as the Ilim joint venture in Russia. In joint ventures we share ownership and management of a company with one or
more parties who may or may not have the same goals, strategies, priorities or resources as we do. In general, joint ventures are intended to be operated for the benefit of all co-owners, rather than for our exclusive benefit. Operating a business
as a joint venture often requires additional organizational formalities as well as time-consuming procedures for sharing information and making decisions. In joint ventures, we are required to pay more attention to our relationship with our
co-owners as well as with the joint venture, and if a co-owner changes, our relationship may be adversely affected. In addition, the benefits from a successful joint venture are shared among the co-owners, so that we do not receive all the benefits
from our successful joint ventures. For additional information with respect to our Ilim joint venture, see Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operation Liquidity and Capital Resources
Ilim Holding S.A. Shareholders Agreement on page 39.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
ITEM 2.
PROPERTIES
FORESTLANDS
As of December 31, 2010, the Company owned or managed approximately 250,000 acres of forestlands in Brazil, and had, through licenses and forest management agreements, harvesting rights on government-owned
forestlands in Russia. All owned lands are independently third-party certified for sustainable forestry (under operating standards of the Sustainable Forestry Initiative (SFI) in the United States and ISO 14001 and CERFLOR in Brazil).
10
MILLS AND PLANTS
A listing of our production facilities by segment, the vast majority of which we own, can be found in Appendix I hereto, which is incorporated
herein by reference.
The Companys facilities are in good operating condition and are suited for the purposes for which they are
presently being used. We continue to study the economics of modernization or adopting other alternatives for higher cost facilities.
CAPITAL INVESTMENTS AND DISPOSITIONS
Given the size, scope and complexity of our business interests, we continually examine and
evaluate a wide variety of business opportunities and planning alternatives, including possible acquisitions and sales or other dispositions of properties. You can find a discussion about the level of planned capital investments for 2011 on page 34,
and dispositions and restructuring activities as of December 31, 2010, on pages 23 and 24 of Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations, and on pages 61 through 64 and pages 66 and 67
of Item 8. Financial Statements and Supplementary Data.
ITEM 3. LEGAL PROCEEDINGS
Information concerning the Companys legal proceedings is set forth on pages 45 and 46 of Item 7. Managements Discussion and
Analysis of Financial Condition and Results of Operations, and on pages 71 and 72 of Item
8. Financial Statements and Supplementary Data.
ITEM 4. REMOVED AND RESERVED
11
PART II.
ITEM 5. MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Dividend per share data on the Companys common stock and the high and low sales prices for the Companys common stock for each of the
four quarters in 2010 and 2009 are set forth on page 92 of Item 8. Financial Statements and Supplementary
Data. As of the filing of this Annual Report on Form 10-K, the Companys common shares are traded on the New York Stock Exchange. International Paper options are traded on the Chicago
Board of Options Exchange. As of February 18, 2011, there were approximately 16,886 record holders of common stock of the Company.
The
table below presents information regarding the Companys purchase of its equity securities for the time periods presented.
PURCHASES OF EQUITY SECURITIES BY THE ISSUER
AND AFFILIATED PURCHASERS.
Period
Total Number
of Shares
Purchased (a)
Average Price
Paid per
Share
Maximum Number (or Approximate Dollar
Value) of
Shares that May Yet Be Purchased Under the Plans or
Programs
February 1, 2010 - February 28, 2010
1,151,550
$
22.67
N/A
April 1, 2010 - April 30, 2010
1,282
25.91
N/A
June 1, 2010 - June 30, 2010
7,346
23.23
N/A
August 1, 2010 - August 31, 2010
3,079
21.01
N/A
October 1, 2010 - October 31, 2010
3,015
21.75
N/A
November 1, 2010 - November 30, 2010
905
25.28
N/A
December 1, 2010 - December 31, 2010
858
24.97
N/A
1,168,035
(a)
Shares acquired from employees from share withholdings to pay income taxes under the Companys restricted stock programs.
No activity occurred in months not presented above.
12
PERFORMANCE GRAPH
The performance graph shall not be deemed to be soliciting material or to be filed with the Commission or subject to Regulation 14A or 14C, or to the liabilities of Section 18 of the
Exchange Act of 1934, as amended.
The following graph compares a $100 investment in Company stock on December 30, 2005 with a $100
investment in each of our ROI Peer Group and the S&P 500 also made at market close on December 30, 2005. The graph portrays total return, 20052010, assuming reinvestment of dividends.
(1)
The companies included in the ROI Peer Group are Domtar Inc., MeadWestvaco Corp., M-Real Corp., Mondi Group, Packaging Corporation of America, Smurfit
Kappa Group, Smurfit-Stone Container Corp., Stora Enso Group, Temple-Inland Inc., and UPM-Kymmene Corp.
(2)
Mondi Group and Smurfit Kappa Group became publicly traded companies on June 2007 and March 2007, respectively. Their results are included in the ROI peer
group from these dates forward.
13
ITEM 6. SELECTED FINANCIAL DATA
FIVE-YEAR FINANCIAL SUMMARY (a)
Dollar amounts in millions, except per share amounts and stock prices
2010
2009
2008
2007
2006
RESULTS OF OPERATIONS
Net sales
$
25,179
$
23,366
$
24,829
$
21,890
$
21,995
Costs and expenses, excluding interest
23,749
21,498
25,490
19,939
18,286
Earnings (loss) from continuing operations before income taxes and equity earnings
822
(b)
1,199
(d)
(1,153
) (f)
1,654
(i)
3,188
(l)
Equity earnings (losses), net of taxes
64
(49
)
49
0
0
Discontinued operations
0
0
(13
) (g)
(47
) (j)
(232
) (m)
Net earnings (loss)
665
(b-c)
681
(d-e)
(1,279
) (f-h)
1,192
(i-k)
1,067
(l-m)
Noncontrolling interests, net of taxes
21
18
3
24
17
Net earnings (loss) attributable to International Paper Company
644
(b-c)
663
(d-e)
(1,282
) (f-h)
1,168
(i-k)
1,050
(l-m)
FINANCIAL POSITION
Working capital
$
3,525
$
3,539
$
2,605
$
2,893
$
3,996
Plants, properties and equipment, net
12,002
12,688
14,202
10,141
8,993
Forestlands
747
757
594
770
259
Total assets
25,368
25,548
26,913
24,159
24,034
Notes payable and current maturities of long-term debt
313
304
828
267
692
Long-term debt
8,358
8,729
11,246
6,353
6,531
Total shareholders equity
6,834
6,023
4,169
8,672
7,963
BASIC EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Earnings (loss) from continuing operations
$
1.50
$
1.56
$
(3.02
)
$
2.83
$
2.69
Discontinued operations
0
0
(0.03
)
(0.11
)
(0.48
)
Net earnings (loss)
1.50
1.56
(3.05
)
2.72
2.21
DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Earnings (loss) from continuing operations
$
1.48
$
1.55
$
(3.02
)
$
2.81
$
2.65
Discontinued operations
0
0
(0.03
)
(0.11
)
(0.47
)
Net earnings (loss)
1.48
1.55
(3.05
)
2.70
2.18
Cash dividends
0.400
0.325
1.00
1.00
1.00
Total shareholders equity
15.62
13.91
9.75
20.40
17.56
COMMON STOCK PRICES
High
$
29.25
$
27.79
$
33.77
$
41.57
$
37.98
Low
19.33
3.93
10.20
31.05
30.69
Year-end
27.24
26.78
11.80
32.38
34.10
FINANCIAL RATIOS
Current ratio
1.8
1.9
1.5
1.7
1.9
Total debt to capital ratio
0.56
0.59
0.73
0.43
0.47
Return on shareholders equity
10.6
%(b-c)
13.6
% (d-e)
(14.9
)% (f-h)
14.8
% (i-k)
14.6
% (l-m)
Return on investment from continuing operations attributable to International Paper Company
5.0
%(b-c)
5.0
% (d-e)
(4.0
)% (f-h)
7.2
% (i-k)
8.1
% (l-m)
CAPITAL EXPENDITURES
$
775
$
534
$
1,002
$
1,292
$
1,073
NUMBER OF EMPLOYEES
59,500
56,100
61,700
51,500
60,600
14
FINANCIAL GLOSSARY
Current ratio
current assets divided by current liabilities.
Total debt to capital ratio
long-term debt plus notes payable and current maturities of long-term debt divided by long-term debt, notes payable and current
maturities of long-term debt and total shareholders equity.
Return on shareholders equity
net earnings attributable to International Paper Company divided by average shareholders equity (computed monthly).
Return on investment
the after-tax amount of earnings from continuing operations before interest divided by the average of total assets minus accounts payable and accrued liabilities (computed monthly).
FOOTNOTES TO FIVE-YEAR FINANCIAL SUMMARY
(a)
All periods presented have been restated to reflect the Weldwood of Canada Limited, Kraft Papers, Brazilian Coated Papers, Beverage Packaging, and Wood
Products businesses as discontinued operations, if applicable.
2010:
(b)
Includes restructuring and other charges of $394 million before taxes ($242 million after taxes) including pre-tax charges of $315 million ($192 million after
taxes) for shutdown costs related to the Franklin, Virginia mill, a pre-tax charge of $35 million ($21 million after taxes) for early debt extinguishment costs, pre-tax charges of $12 million ($7 million after taxes) for closure costs related to the
Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $11 million ($7 million after taxes) for an Ohio Commercial Activity tax adjustment, a pre-tax charge of $6 million ($4 million after taxes) for severance and
benefit costs associated with the Companys S&A reduction initiative, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the reorganization of the Companys Shorewood operations, a pre-tax charge of $3
million ($2 million after taxes) for costs associated with the closure of three box plants in Asia and charges of $4 million, before and after taxes, for other items. Also included are a pre-tax charge of $18
mil-
lion ($11 million after taxes) for an environmental reserve related to the Companys property in Cass Lake, Minnesota, a pre-tax gain of $25 million ($15 million after taxes) related to the
partial redemption of the Companys interests in Arizona Chemical and a charge of $2 million, before and after taxes, for asset impairment costs associated with the Inverurie, Scotland mill.
(c)
Includes tax expense of $14 million and $32 million for tax adjustments related to incentive compensation and Medicare Part D deferred tax write-offs,
respectively, and a $40 million tax benefit related to cellulosic bio-fuel tax credits.
2009:
(d)
Includes restructuring and other charges of $1.4 billion before taxes ($853 million after taxes), including pre-tax charges of $469 million ($286 million
after taxes), $290 million ($177 million after taxes), and $102 million ($62 million after taxes) for shutdown costs for the Albany, Oregon, Franklin, Virginia and Pineville, Louisiana mills, respectively, a pre-tax charge of $82 million ($50
million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $148 million ($92 million after taxes) for severance and benefit costs associated with the Companys 2008 overhead
cost reduction initiative, a pre-tax charge of $185 million ($113 million after taxes) for early debt extinguishment costs, a pre-tax charge of $23 million ($28 million after taxes) for closure costs associated with the Inverurie, Scotland mill, a
charge of $31 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, and a pre-tax charge of $23 million ($14 million after taxes) for other items. Also included are a
pre-tax gain of $2.1 billion ($1.4 billion after taxes) related to alternative fuel mixture credits, a pre-tax charge of $87 million ($54 million after taxes) for integration costs associated with the CBPR acquisition, a charge of $56 million to
write down the assets at the Etienne mill in France to estimated fair value, and pre-tax charge of $3 million ($0 million after taxes) for other items.
(e)
Includes a $156 million tax expense for the write-off of deferred tax assets in France, a $15 million tax expense for the write-off of a deferred tax asset
for a recycling credit in the
15
state of Louisiana and a $26 million tax benefit related to the settlement of the 2004 and 2005 U.S. federal income tax audit and related state income tax effects.
2008:
(f)
Includes restructuring and other charges of $370 million before taxes ($227 million after taxes), including a pre-tax charge of $123 million ($75 million
after taxes) for shutdown costs for the Bastrop, Louisiana mill, a pre-tax charge of $30 million ($18 million after taxes) for the shutdown of a paper machine at the Franklin, Virginia mill, a charge of $53 million before taxes ($32 million after
taxes) for severance and related costs associated with the Companys 2008 overhead cost reduction initiative, a charge of $75 million before taxes ($47 million after taxes) for adjustments to legal reserves, a pre-tax charge of $30 million ($19
million after taxes) for costs associated with the reorganization of the Companys Shorewood operations, a pre-tax charge of $53 million ($33 million after taxes) to write off deferred supply chain initiative development costs for U.S.
container operations that will not be implemented due to the CBPR acquisition, a charge of $8 million before taxes ($5 million after taxes) for closure costs associated with the Ace Packaging business, and a gain of $2 million, before and after
taxes, for adjustments to previously recorded reserves and other charges associated with the Companys 2006 Transformation Plan. Also included are a charge of $1.8 billion, before and after taxes, for the impairment of goodwill in the
Companys U.S. Printing Papers and U.S. and European Coated Paperboard businesses, a pre-tax charge of $107 million ($84 million after taxes) to write down the assets of the Inverurie, Scotland mill to estimated fair value, a pre-tax gain of $6
million ($4 million after taxes) for adjustments to estimated transaction costs accrued in connection with the 2006 Transformation Plan forestland sales, a $39 million charge before taxes ($24 million after taxes) relating to the write-up of
inventory to fair value in connection with the CBPR acquisition, and a $45 million charge before taxes ($28 million after taxes) for integration costs associated with the CBPR acquisition.
(g)
Includes a pre-tax charge of $25 million ($16 million after taxes) for the settlement of a post-closing adjustment on the sale of the Beverage
Packaging business, pre-tax gains of $9 million ($5 million after taxes) for adjustments to reserves associated with the sale of discontinued businesses, and the operating results of certain wood
products facilities.
(h)
Includes a $40 million tax benefit related to the restructuring of the Companys international operations.
2007:
(i)
Includes restructuring and other charges of $95 million before taxes ($59 million after taxes), including a $30 million charge before taxes ($19 million after
taxes) for organizational restructuring and other charges principally associated with the Companys 2006 Transformation Plan, a charge of $60 million before taxes ($38 million after taxes) of accelerated depreciation charges, a $10 million
charge before taxes ($6 million after taxes) for environmental costs associated with a mill closure, and a pre-tax gain of $5 million ($4 million after taxes) for other items. Also included are a $9 million pre-tax gain ($5 million after taxes) to
reduce estimated transaction costs accrued in connection with the 2006 sale of U.S. forestlands included in the Companys 2006 Transformation Plan; and a $327 million gain before taxes ($267 million after taxes) for net gains on sales and
impairments of businesses including a pre-tax gain of $113 million ($102 million after taxes) on the sale of the Arizona Chemical business, a gain of $205 million before taxes ($159 million after taxes) related to the asset exchange for the Luiz
Antonio mill in Brazil, and a pre-tax gain of $9 million ($6 million after taxes) for other items.
(j)
Includes a pre-tax gain of $20 million ($8 million after taxes) relating to the sale of the Wood Products business, a pre-tax loss of $30 million ($48 million
after taxes) for adjustments to the loss on the sale of the Beverage Packaging business, a pre-tax gain of $6 million ($4 million after taxes) for adjustments to the loss on the sale of the Kraft Papers business, and a net $6 million pre-tax credit
($4 million after taxes) for payments received relating to the Companys Weldwood of Canada Limited business, and the year-to-date operating results of the Beverage Packaging and Wood Products businesses.
16
(k)
Includes a $41 million tax benefit relating to the effective settlement of certain income tax audit issues.
2006:
(l)
Includes restructuring and other charges of $300 million before taxes ($184 million after taxes), including a $157 million charge before taxes ($95 million
after taxes) for organizational restructuring and other charges principally associated with the Companys 2006 Transformation Plan, a charge of $165 million before taxes ($102 million after taxes) for losses on early debt extinguishment, a $97
million charge before taxes ($60 million after taxes) for legal reserves, a $115 million gain before taxes ($70 million after taxes) for payments received relating to the Companys participation in the U.S. Coalition for Fair Lumber Imports,
and a credit of $4 million before taxes ($3 million after taxes) for other items. Also included are a $4.8 billion gain before taxes ($2.9 billion after taxes) from sales of U.S. forestlands included in the Companys 2006 Transformation Plan; a
charge of $759 million before and after taxes for the impairment of goodwill in the Coated Paperboard and Shorewood businesses; a $1.5 billion pre-tax
charge ($1.4 billion after taxes) for net losses on sales and impairments of businesses including $1.4 billion before taxes ($1.3 billion after taxes) for the U.S. Coated and Supercalendered
Papers business, $52 million before taxes ($37 million after taxes) for certain assets in Brazil, and $128 million before taxes ($84 million after taxes) for the Companys Saillat mill in France to reduce the carrying value of net assets to
their estimated fair value; the recognition of a previously deferred $110 million gain before taxes ($68 million after taxes) related to a 2004 sale of forestlands in Maine; and a pre-tax charge of $21 million ($0 after taxes) for other smaller
items.
(m)
Includes a gain of $100 million before taxes ($79 million after taxes) from the sale of the Brazilian Coated Papers business, pre-tax charges of $116 million
($72 million after taxes) for the Kraft Papers business, $269 million ($234 million after taxes) for the Wood Products business and $121 million ($90 million after taxes) for the Beverage Packaging business to reduce the carrying value of these
businesses to their estimated fair value, and the 2006 operating results of the Kraft Paper, Brazilian Coated Papers, Wood Products and Beverage Packaging businesses.
17
ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
EXECUTIVE SUMMARY
International Paper experienced a transition year in 2010, as we emerged from one of the worst recessions in decades to end the year with our highest fourth-quarter earnings per share in over ten years. The strong
fourth quarter wrapped up a strong 2010. Our earnings per share before special items were more than twice what they were in 2009. The levers for improvement during 2010 included higher price realizations, volume recovery, better operations, and a
significantly higher contribution from our Ilim joint venture in Russia. The primary downside came from input costs, where we saw pressure on virgin and recycled fiber costs. However, we were able to overcome these higher costs and expand our
margins during 2010. We saw improvements across all of our segments and in each of our geographic regions.
The health of our balance
sheet remains strong. We generated free cash flow before dividends of approximately $1.7 billion (see reconciliation on page 33), in spite of increased capital spending. We also continued to reduce debt, made voluntary contributions to our qualified
U.S. pension plan totaling $1.15 billion and increased our annual dividend from $0.10 to $0.75 through an increase early in 2010 and another in early 2011.
Looking ahead, we believe that we continue to operate in a recovering, but not fully recovered, economy. Therefore we expect 2011 to be a year of accelerating improvement for International Paper. The first quarter
has traditionally been seasonally slow and we expect first quarter results to be slightly lower than the fourth quarter of 2010, with stable volumes, prices and operations offset by rising input costs. We will also see a higher contribution from
Ilim during the first quarter, which will represent their fourth quarter 2010 operations as they are reported on a one-quarter lag. As the global economy continues to recover, we expect price realizations and volumes to improve throughout 2011.
Earnings per share attributable to International Paper Company common shareholders before special items is a non-GAAP measure. Diluted
earnings (loss) per share attributable to International Paper Company shareholders is the most direct comparable GAAP measure. The Company calculates
earnings per share before special items by excluding the after-tax effect of items considered by management to be unusual from the earnings reported under GAAP. Management uses this measure to
focus on on-going operations, and believes that it is useful to investors because it enables them to perform meaningful comparisons of past and present operating results. The Company believes that using this information, along with the most direct
comparable GAAP measure, provides for a more complete analysis of the results of operations. The following is a reconciliation of earnings per share attributable to International Paper Company common shareholders before special items to diluted
earnings (loss) per share attributable to International Paper Company common shareholders.
2010
2009
2008
Earnings Per Share Before Special Items
$
2.05
$
0.88
$
2.01
Restructuring and other charges
(0.59
)
(2.00
)
(0.54
)
CBPR business integration costs
0
(0.13
)
(0.12
)
Alternative fuel mixture credits
0
3.32
0
Forestland sales
0
0
0.01
Impairments of goodwill
0
0
(4.22
)
Net gains (losses) on sales and impairments of businesses
0.03
(0.13
)
(0.19
)
Income tax adjustments
(0.01
)
(0.39
)
0.03
Earnings (Loss) Per Common Share From Continuing Operations
$
1.48
$
1.55
$
(3.02
)
Discontinued operations
0
0
(0.03
)
Diluted Earnings (Loss) per Common Share
$
1.48
$
1.55
$
(3.05
)
Results of
Operations
Industry segment operating profits are used by International Papers 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. Industry segment operating profits are defined as earnings before taxes, equity
earnings, noncontrolling interests, interest expense, corporate items and corporate special items. Industry segment operating profits are defined by the Securities and Exchange Commission as a non-GAAP financial measure, and are not GAAP
alternatives to net income or any other operating measure prescribed by accounting principles generally accepted in the United States.
International Paper operates in five segments: Industrial Packaging, Printing Papers, Consumer Packaging, Distribution, and Forest Products.
18
The following table shows the reconciliation of industry segment operating profits to net earnings
(loss) attributable to International Paper Company for each of the last three years:
In millions
2010
2009
2008
Industry segment operating profits*
$
1,686
$
2,360
$
1,393
Corporate items, net
(226
)
(181
)
(103
)
Corporate special items**
(45
)
(334
)
(1,949
)
Interest expense, net
(608
)
(669
)
(492
)
Noncontrolling interests not included in operations
(6
)
5
(5
)
Income tax provision
(221
)
(469
)
(162
)
Equity earnings (loss)
64
(49
)
49
Discontinued operations
0
0
(13
)
Net earnings (loss) attributable to International Paper Company
$
644
$
663
$
(1,282
)
*
Includes the impact of segment restructuring charges in all years and alternative fuel mixture credits in 2009.
**
Corporate special items include restructuring and other charges, goodwill impairment charges, gains on Transformation Plan forestland sales and net losses
on sales and impairments of businesses.
Industry segment operating profits of $1.7 billion were $674 million
lower in 2010 than in 2009 due principally to a $344 million net loss from special items in 2010 compared with an $898 million net gain in 2009 (which included the impact of alternative fuel mixture credits). Operationally, the impacts of higher
energy and raw material costs ($548 million), higher distribution costs ($95 million), a bad debt provision for a large envelope company ($17 million), higher mill outages ($47 million), and other items ($15 million) were more than offset by higher
average prices ($798 million), higher sales volumes ($269 million), improved operating performance and a more favorable product mix ($154 million), and higher earnings from land and mineral sales ($69 million).
The principal changes in operating profit by segment were as follows:
Industrial Packagings profits of $826 million were $65 million higher as the benefits of higher sales volumes and decreased lack-of-order downtime,
higher average sales price realizations and favorable operating costs were partially offset by higher planned maintenance downtime costs, and higher raw material and freight costs. In addition, 2010 operating profits included $19 million of plant
closure costs, while 2009 operating profits included a gain of $849 million relating to alternative fuel mixture credits and $740 million of costs associated with the closures of the Albany, Oregon and Pineville, Louisiana mills, a paper machine at
the Valliant, Oklahoma mill and the Etienne mill in France.
Printing Papers profits of $481 million were $610 million lower. The benefits of higher sales price realizations and lower operating costs were
partially offset by the net impact of lower sales volumes, higher raw material and freight costs, and higher planned mill maintenance downtime costs. Operating profits included $315 million in 2010 and $223 million in 2009 of costs associated with
the closure of the Franklin, Virginia mill. In addition, operating profits in 2009 included $884 million of alternative fuel mixture credits and $34 million of other restructuring costs.
Consumer Packagings profits of $207 million were down $226 million as the benefits from higher sales volumes and lower lack-of-order downtime, higher
sales price realizations, and lower operating costs were partially offset by higher raw material and freight costs. Operating profits in 2009 included $330 million of alternative fuel mixture credits and $67 million of charges associated with the
shutdown of the Franklin, Virginia mill.
19
Distributions profits of $78 million increased $28 million due to higher sales volumes and average sales margins partially offset by higher operating
costs.
Forest Products profits of $94 million increased $69 million reflecting a $39 million gain on a mineral rights sale and a $50 million gain on land sales
in 2010.
Corporate items, net, of $226 million of expense in 2010 were higher than the $181 million of expense in
2009 due primarily to higher pension expenses. The increase in 2009 versus $103 million of expense in 2008 was due to higher pension expenses.
Corporate special items, including restructuring and other items, impairments of goodwill, gains on Transformation Plan forestland sales and net losses (gains) on sales and impairments of businesses, were a loss of
$45 million in 2010 compared with a loss of $334 million in 2009 and a loss of $1.9 billion in 2008. The loss in 2008 includes $1.8 billion of goodwill impairment charges.
Interest expense, net, was $608 million in 2010 compared with $669 million in 2009 and $492 million in 2008. The decrease in 2010 reflects the repayment of $3.1 billion of debt in 2009. The increase in 2009
reflects the issuance of approximately $6.0 billion of debt in connection with the acquisition of the CBPR business in 2008 and higher interest rates in 2009 due to refinancing actions taken to extend debt maturities.
The 2010 income tax provision of $221 million includes a $14 million tax expense for an incentive compensation deferred tax write-off, a $32
million tax expense for a Medicare Part D deferred tax write-off and a $40 million net tax benefit related to cellulosic bio-fuel credits. The 2009 income tax provision of $469 million includes a net $165 million provision related to 2009 special
tax adjustment items. The 2008 income tax provision of $162 million includes a net $11 million benefit related to 2008 special tax adjustment items. Excluding the tax effect of all special items, taxes as a percent of pre-tax earnings were 30% in
both 2010 and 2009 compared with 31.5% in 2008. The higher income tax rate in 2008 reflects a higher proportion of earnings in higher tax rate jurisdictions.
Discontinued Operations
In 2008, $13 million of net adjustments were recorded relating to post-closing adjustments and estimates associated with prior sales of discontinued businesses.
Liquidity and Capital Resources
For
the year ended December 31, 2010, International Paper generated $1.6 billion of cash flow from continuing operations compared with $4.7 billion, including $1.7 billion from alternative fuel mixture credits, in 2009. Capital spending for 2010
totaled $775 million, or 53% of depreciation and amortization expense. Cash expenditures for acquisitions totaled $152 million, while net reductions of debt totaled $383 million. Our liquidity position remains strong, supported by approximately $2.5
billion of committed credit facilities that we believe are adequate to meet future liquidity requirements. Maintaining an investment-grade credit rating for our long-term debt continues to be an important element in our overall financial strategy.
We expect to generate strong free cash flow again in 2011 and will continue our balanced use of cash through investments in capital
projects, the continued reduction of total debt, including the Companys unfunded pension obligation, returning value to shareholders (including the funding of our previously announced dividend increases) and strengthening our businesses
through acquisitions, as appropriate.
Capital spending for 2011 is targeted at $1.2 to $1.3 billion, or about 86% to 93% of depreciation and
amortization.
Critical Accounting Policies and Significant Accounting Estimates
Accounting policies that may have a significant effect on our reported results of operations and financial position, and that can require judgments
by management in their application, include accounting for contingent liabilities, impairments of long-lived assets and goodwill, pension and postretirement benefit obligations and income taxes.
20
Legal
See page 45 and Note 10 of the Notes to Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data for a discussion of legal matters.
CORPORATE OVERVIEW
While the operating results for International Papers various business segments are driven by a number of business-specific factors, changes
in International Papers operating results are closely tied to changes in general economic conditions in North America, Europe, Russia, Latin America, Asia and North Africa. Factors that impact the demand for our products include industrial
non-durable goods production, consumer spending, commercial printing and advertising activity, white-collar employment levels, and movements in currency exchange rates.
Product prices are affected by general economic trends, inventory levels, currency movements and worldwide capacity utilization. In addition to these revenue-related factors, net earnings are impacted by various
cost drivers, the more significant of which include changes in raw material costs, principally wood, recycled fiber and chemical costs; energy costs; freight costs; salary and benefits costs, including pensions; and manufacturing conversion costs.
The following is a discussion of International Papers results of operations for the year ended December 31, 2010, and the
major factors affecting these results compared to 2009 and 2008.
RESULTS OF OPERATIONS
For the year ended December 31, 2010, International Paper reported net sales of $25.2 billion, compared with $23.4 billion in 2009 and $24.8
billion in 2008. International net sales (including U.S. exports) totaled $7.5 billion, or 30% of total sales in 2010. This compares to international net sales of $6.4 billion in 2009 and $6.9 billion in 2008.
Full year 2010 net earnings attributable to International Paper Company totaled $644 million ($1.48 per share), compared with net earnings of $663
million ($1.55 per share) in 2009 and a loss of $1.3 billion ($3.05 per share) in 2008. 2008 amounts include the results of discontinued operations.
Earnings from continuing operations attributable to International Paper Company after taxes in 2010
were $644 million, including $246 million of net special item charges, compared with income of $663 million, including $285 million of special item credits in 2009, and a loss of $1.3 billion in 2008, including $2.1 billion of net special item
charges. Compared with 2009, higher mill outage costs, increased average raw material costs, higher distribution costs, a bad debt provision for a large envelope company, higher corporate expenses, and a net special items expense in 2010 compared
with a net gain in 2009 were partially offset by the impact of increased average sales price realizations, higher sales volumes, favorable operating performance, higher earnings from land and mineral sales, and lower net interest expense.
Additionally, 2010 results included higher equity earnings, net of taxes, relating to the Companys investment in Ilim Holdings, SA.
See Industry
Segment Results on pages 27 through 33 for a discussion of the impact of these factors by segment.
21
The following table presents a reconciliation of net earnings (loss) attributable to International
Paper Company to its total industry segment operating profit:
In millions
2010
2009
2008
Net Earnings (Loss) attributable to International Paper Company
$
644
$
663
$
(1,282
)
Deduct Discontinued operations:
Loss from operations
0
0
1
Loss on sales or impairment
0
0
12
Earnings (Loss) From Continuing Operations Attributable to International Paper Company
644
663
(1,269
)
Add back (deduct):
Income tax provision
221
469
162
Equity (earnings) losses, net of taxes
(64
)
49
(49
)
Net earnings attributable to noncontrolling interests
21
18
3
Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings
822
1,199
(1,153
)
Interest expense, net
608
669
492
Noncontrolling interests / equity earnings included in operations
(15
)
(23
)
2
Corporate items
226
181
103
Special items:
Restructuring and other charges
70
333
179
Gain on sale of forestlands
0
0
(6
)
Impairments of goodwill
0
0
1,777
Net losses (gains) on sales and impairments of businesses
(25
)
1
(1
)
$
1,686
$
2,360
$
1,393
Industry Segment Operating Profit
Industrial Packaging
$
826
$
761
$
390
Printing Papers
481
1,091
474
Consumer Packaging
207
433
17
Distribution
78
50
103
Forest Products
94
25
409
Total Industry Segment Operating Profit
$
1,686
$
2,360
$
1,393
Discontinued Operations
2008: In 2008, net after-tax charges totaling $12 million were recorded for adjustments of net losses (gains) on sales and impairments of businesses
reported as discontinued operations, including a pre-tax charge of $25 million ($16 million after taxes) in the first quarter for the settlement of a post-closing adjustment on the sale of the Beverage Packaging business, and pre-tax gains of $9
million ($5 million after taxes) in the fourth quarter for adjustments to reserves associated with the sale of discontinued businesses.
Income Taxes
A net income tax provision of $221 million was recorded for 2010, including a $14 million tax expense and a $32 million tax expense for incentive compensation and Medicare Part D deferred tax write-offs,
respectively, and a net $40 million tax benefit related to cellulosic bio-fuel tax credits. See discussion on pages 33 and 34. Excluding these items and the tax effect of other special items, the tax provision was $364 million, or 30% of pre-tax
earnings before equity earnings.
A net income tax provision of $469 million was recorded for 2009, including a $156 million expense for
the write-off of deferred tax assets in France, a $15 million write-off of a deferred tax asset for a recycling tax credit in the state of Louisiana, and a $26 million tax benefit related to the settlement of the 2004 and 2005 U.S. federal income
tax audits. Excluding these items and the tax effect of other special items, the tax provision was $190 million, or 30% of pre-tax earnings before equity earnings.
A net income tax provision of $162 million was recorded for 2008, including a $40 million tax benefit related to the restructuring of the Companys international operations and a $29 million charge for
estimated U.S. income taxes on a gain recorded by the Companys Ilim Holding S.A. joint venture related to the sale of a Russian subsidiary. Excluding these items and the tax effect of other special items, the tax provision was $369 million, or
31.5% of pre-tax earnings before equity earnings.
Equity Earnings, Net of Taxes
Equity earnings, net of taxes in 2010, 2009 and 2008 consisted principally of the Companys share of earnings from its 50% investment in Ilim
Holding S.A. in Russia (see pages 32 and 33).
Corporate Items and Interest Expense
Corporate items totaled $226 million of expense for the twelve months ended December 31, 2010 compared with $181 million in 2009 and $103
million in 2008. The increase in 2010 reflects higher supply chain initiative expenses and higher pension expense. The increase in 2009 from 2008 principally reflects higher pension expense.
Net interest expense totaled $608 million in 2010, $669 million in 2009 and $492 million in 2008. The decrease from 2010 to 2009 reflects the
repayment of $3.1 billion of debt in 2009. The increase from 2008 to 2009 reflects a higher average debt balance due to
22
the issuance of approximately $6 billion of debt in 2008, mainly in connection with the acquisition of the CBPR business, and higher average interest rates in 2009 due to refinancing actions
taken to extend debt maturities.
Net earnings attributable to noncontrolling interests totaled $21 million in 2010 compared with $18
million in 2009 and $3 million in 2008. The increases in 2010 and 2009 reflect higher earnings for the International Paper & Sun Containerboard Co., Ltd. joint ventures.
Special Items
Restructuring and Other Charges
International Paper continually evaluates its operations for improvement opportunities targeted to (a) focus our portfolio on our core
businesses, (b) rationalize and realign capacity to operate fewer facilities with the same revenue capability and close high cost facilities, and (c) reduce costs. Annually, strategic operating plans are developed by each of our
businesses. If it subsequently becomes apparent that a facilitys plan will not be achieved, a decision is then made to (a) invest additional capital to upgrade the facility, (b) shut down the facility and record the corresponding
charge, or (c) evaluate the expected recovery of the carrying value of the facility to determine if an impairment of the asset value of the facility has occurred. In recent years, this policy has led to the shutdown of a number of facilities
and the recording of significant asset impairment charges and severance costs. It is possible that additional charges and costs will be incurred in future periods in our core businesses should such triggering events occur.
2010: During 2010, corporate
restructuring and other charges totaling $52 million before taxes ($32 million after taxes) were recorded. These charges included:
a $6 million charge before taxes ($4 million after taxes) for severance and benefit costs associated with the Companys S&A reduction initiative,
a $35 million charge before taxes ($21 million after taxes) for costs related to the early extinguishment of debt (see note 12 of the Notes to Consolidated
Financial Statements in Item 8. Financial Statements and Supplementary Data), and
an $11 million charge before taxes ($7 million after taxes) related to the write-off of an Ohio commercial activity tax receivable.
In addition, restructuring and other charges totaling $342 million before taxes ($210 million after
taxes) were recorded in the Industrial Packaging, Printing Papers and Consumer Packaging industry segments including:
a $315 million charge before taxes ($192 million after taxes), including $236 million of noncash accelerated depreciation charges, for closure costs related
to the Franklin, Virginia mill,
an $8 million charge before taxes ($5 million after taxes) related to the reorganization of the Companys Shorewood Packaging operations,
a $7 million charge before taxes ($4 million after taxes) related to the closure of the Bellevue, Washington container facility,
a $5 million charge before taxes ($3 million after taxes) related to the closure of the Spartanburg, South Carolina container facility,
a $3 million charge, before and after taxes, for severance and other costs related to the closure of the Etienne mill in France, and
a $4 million charge before taxes ($3 million after taxes) for other items.
2009: During 2009, corporate
restructuring and other charges totaling $333 million before taxes ($205 million after taxes) were recorded. These charges included:
a $148 million charge before taxes ($92 million after taxes) for severance and benefit costs associated with the Companys 2008 overhead reduction
initiative, and
a $185 million charge before taxes ($113 million after taxes) for costs related to the early extinguishment of debt (see Note 12 of the Notes to Consolidated
Financial Statements in Item 8. Financial Statements and Supplementary Data).
In addition, restructuring and
other charges totaling $1.0 billion before taxes ($648 million after taxes) were recorded in the Industrial Packaging, Printing Papers, Consumer Packaging and Distribution industry segments including:
a $469 million charge before taxes ($286 million after taxes), including $429 million of noncash accelerated depreciation charges, for closure costs related
to the Companys containerboard mill in Albany, Oregon,
23
a $290 million charge before taxes ($177 million after taxes), including $239 million of noncash accelerated depreciation charges, for closure costs related
to the paper mill and associated operations in Franklin, Virginia,
a $102 million charge before taxes ($62 million after taxes), including $75 million of noncash accelerated depreciation charges, for closure costs related to
the Companys containerboard mill in Pineville, Louisiana,
an $82 million charge before taxes ($50 million after taxes), including $78 million of noncash accelerated depreciation charges, for costs related to the
permanent shut down of a paper machine at the Companys Valliant, Oklahoma containerboard mill,
a $31 million charge, before and after taxes, for severance and other costs related to the planned closure of the Companys Etienne mill in France,
a $23 million charge before taxes ($28 million after taxes) for closure costs related to the Inverurie mill in Scotland, and
a $23 million charge before taxes ($14 million after taxes) for other items.
2008: During 2008, corporate
restructuring and other charges totaling $179 million before taxes ($110 million after taxes) were recorded. These charges included:
a $53 million charge before taxes ($32 million after taxes) for severance and related costs associated with the Companys 2008 overhead cost reduction
initiative,
a $75 million charge before taxes ($47 million after taxes) for adjustments to legal reserves,
a $53 million pre-tax charge ($33 million after taxes) to write off deferred supply chain initiative development costs for U.S. container operations that were
not implemented due to the CBPR acquisition, and
a $2 million gain, before and after taxes, for adjustments to previously recorded reserves and other charges associated with the Companys 2006
Transformation Plan.
In addition, restructuring and other charges totaling $191 million ($117 million after taxes) were
recorded in the Printing Papers, Industrial Packaging and Consumer Packaging industry segments including:
a $123 million charge ($75 million after taxes) for costs associated with the shutdown of the Bastrop, Louisiana mill,
a $30 million charge ($18 million after taxes) for costs associated with the shutdown of a paper machine at the Franklin, Virginia mill,
a $30 million charge ($19 million after taxes) related to the reorganization of the Companys Shorewood operations, and
an $8 million charge ($5 million after taxes) for closure costs associated with the Ace Packaging business.
A further discussion of restructuring and other charges can be found in Note 4 of the Notes to Consolidated Financial Statements in Item 8.
Financial Statements and Supplementary Data.
Gain on Sale of Forestlands
2008: During the second and third
quarters of 2008, a pre-tax gain totaling $6 million ($4 million after taxes) was recorded to adjust reserves related to the 2006 Transformation Plan forestland sales.
Impairments of Goodwill
In the fourth quarter of 2008, in conjunction with annual testing of
its reporting units for possible goodwill impairments as of the beginning of the fourth quarter, the Company recorded a $59 million charge to write off all recorded goodwill of its European Coated Paperboard business. Subsequent to this testing
date, and based on interim goodwill impairment tests performed as of December 31, 2008, additional goodwill impairment charges of $1.3 billion and $379 million were recorded for the Companys U.S. Printing Papers business and its U.S.
Coated Paperboard business, respectively.
No goodwill impairment charges were recorded in 2010 or 2009.
24
Net Losses (Gains) on Sales and Impairments of Businesses
Net losses (gains) on sales and impairments of businesses included in Corporate special items totaled a pre-tax gain of $23 million ($13 million
after taxes) in 2010, a pre-tax loss of $59 million ($56 million after taxes) in 2009 and a pre-tax loss of $106 million ($83 million after taxes) in 2008. The principal components of these gains/losses were:
2010: During the fourth quarter of
2010, the Company recorded a pre-tax gain of $25 million ($15 million after taxes) as a result of the partial redemption of the 10% interest the Company retained in its Arizona Chemical business after the sale of the business in 2006. The Company
received $37 million in cash from the redemption of this interest.
Also during the fourth quarter of 2010, a $2 million charge, before
and after taxes, was recorded to further write down the long-lived assets of the Companys Inverurie, Scotland mill which was closed in March 2009.
2009: During the second quarter of 2009, based on a current strategic plan update of projected future
operating results of the Companys Etienne, France mill, a determination was made that the current book value of the mills long-lived assets exceeded their estimated fair value, calculated using the probability-weighted present value of
projected future cash flows. As a result, a $48 million noncash charge, before and after taxes, was recorded to write down the long-lived assets of the mill to their estimated fair value.
During the fourth quarter of 2009, an $8 million noncash charge, before and after taxes, was recorded to further write down the long-lived assets
of the Companys Etienne, France mill which was closed at the end of November 2009, to their estimated fair value. In addition, a pre-tax charge of $3 million ($0 million after taxes) was recorded for other items.
2008: During the first quarter of
2008, a $1 million credit, (before and after taxes), was recorded to adjust the estimated loss for a business previously sold.
In
addition, a $107 million noncash loss ($84 million after taxes) for the impairment of the Inverurie, Scotland mill was recorded in the Printing Papers industry segment.
Industry Segment Operating Profits
Industry segment operating profits of $1.7 billion in 2010 decreased from $2.4 billion in 2009, primarily due to a $344 million net loss from special items in 2010 compared with an $898 million net gain in 2009
(which included the impact of alternative fuel mixture credits). The benefits from higher average prices ($798 million), higher sales volumes ($269 million), improved operating performance and a more favorable product mix ($154 million), and higher
earnings from land sales ($69 million) were offset by the impacts of higher energy and raw material costs ($548 million), higher distribution costs ($95 million), a bad debt provision for a large envelope company ($17 million), higher mill outages
($47 million), and other items ($15 million).
Lack-of-order downtime in 2010 decreased to approximately 170,000 tons. In addition,
capacity was reduced by approximately 2.1 million tons associated with the permanent shutdowns of the Albany, Oregon and Pineville, Louisiana mills and the shutdown of a paper machine at our Valliant, Oklahoma mill in December 2009 and the
permanent shutdown of the Franklin, Virginia mill in April 2010. Lack-of-order downtime in 2009 was approximately 3.6 million tons including approximately 450,000 tons associated with the permanent shutdown of the Albany, Oregon and Pineville,
Louisiana mills and the shutdown of a paper machine at our Valliant, Oklahoma mill and approximately 600,000 tons associated with the permanent shutdown of our Bastrop, Louisiana mill and the shutdown of an uncoated paper machine at our Franklin,
Virginia mill in 2008.
Looking ahead to the 2011 first quarter, demand for North American and European paper and packaging products
will likely remain stable while a seasonal decrease in paper demand is expected in Brazil. Average sales prices are expected to be steady with some pressure on prices to export markets. Input costs in North America are expected to increase for
purchased pulp and chemicals. Planned maintenance downtime costs should be slightly lower reflecting a decrease in Europe, partially offset by increased spending in North America. Earnings from our xpedx distribution business are expected to reflect
seasonally lower sales volumes, but improved average margins. Equity earnings from our Ilim joint venture are expected to increase due to improving market demand and higher average sales price realizations for linerboard.
25
DESCRIPTION OF INDUSTRY SEGMENTS
International Papers industry segments discussed below are consistent with the internal structure used to manage these businesses. All
segments are differentiated on a common product, common customer basis consistent with the business segmentation generally used in the Forest Products industry.
Industrial Packaging
International Paper is the largest manufacturer of containerboard
in the United States. Our production capacity is about 10 million tons annually. Our products include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. About 70% of our production is converted domestically
into corrugated boxes and other packaging by our 127 U.S. container plants. Additionally, we recycle approximately one million tons of OCC and mixed and white paper through our 21 recycling plants. In Europe, our operations include one recycled
fiber containerboard mill in Morocco and 20 container plants in France, Italy, Spain, and Morocco. In Asia, our operations include 21 container plants in China and additional container plants in Indonesia, Malaysia, Singapore, and Thailand. Our
container plants are supported by regional design centers, which offer total packaging solutions and supply chain initiatives.
Printing Papers
International Paper is one of the worlds leading producers of printing and writing papers. Products in this segment
include uncoated and coated papers, market pulp and uncoated bristols.
Uncoated
Papers: This business produces papers for use in copiers, desktop and laser printers and digital imaging. End use applications include advertising and promotional materials such as brochures,
pamphlets, greeting cards, books, annual reports and direct mail. Uncoated papers also produces a variety of grades that are converted by our customers into envelopes, tablets, business forms and file folders. Uncoated papers are sold under private
label and International Paper brand names that include Hammermill, Springhill, Williamsburg, Postmark, Accent, Great White, Chamex, Ballet , Rey, Pol, and Svetocopy . The mills producing uncoated papers are located in the United States,
France, Poland, Russia, and Brazil. The mills have uncoated paper production capacity of approximately 4.9 million tons annually. Brazilian operations
func-
tion through International Paper do Brasil, Ltda, which owns or manages approximately 250,000 acres of forestlands in Brazil.
Market Pulp: Market pulp is used in the
manufacture of printing, writing and specialty papers, towel and tissue products and filtration products. Pulp is also converted into products such as diapers and sanitary napkins. Pulp products include fluff, and southern softwood pulp, as well as
southern and birch hardwood paper pulps. These products are produced in the United States, France, Poland, Russia, and Brazil and are sold around the world. International Paper facilities have annual dried pulp capacity of about 1.5 million
tons.
Consumer Packaging
International Paper is the worlds largest producer of solid bleached sulfate board with annual U.S. production capacity of about 1.7 million tons. Our coated paperboard business produces high quality
coated paperboard for a variety of packaging and commercial printing end uses. Our Everest® , Fortress® , and Starcote® brands are used in packaging applications for everyday products such as food, cosmetics, pharmaceuticals, computer software and tobacco products. Our Carolina® brand is used in commercial printing end uses such as greeting cards, paperback book covers, lottery tickets, direct mail
and point-of-purchase advertising. Our U.S. capacity is supplemented by about 345,000 tons of capacity at our mills producing coated board in Poland and Russia and by our International Paper & Sun Cartonboard Co., Ltd. joint venture in
China which has annual capacity of 915,000 tons.
Shorewood Packaging Corporation produces premium packaging with high-impact graphics
for a variety of markets, including home entertainment, tobacco, cosmetics, general consumer and pharmaceuticals, in 16 facilities worldwide.
Our Foodservice business produces cups, lids, food containers and plates through three domestic plants and five international facilities.
Distribution
xpedx , our North American merchant distribution business,
distributes products and services to a number of customer markets including: commercial printers with printing papers and graphic pre-press, printing presses and post press equipment; building
26
services and away-from-home markets with facility supplies; manufacturers with packaging supplies and equipment; and to a growing number of customers, we exclusively provide distribution
capabilities including warehousing and delivery services. xpedx is the leading wholesale distribution marketer in these customer and product segments in North America, operating 120 warehouse locations and 128 retail stores in the U.S.,
Mexico and Canada.
Forest Products
International Paper sold our remaining land portfolio in 2010 and has completed the monetization of our forest land and realty holdings.
Ilim Holding S.A.
In October 2007, International Paper and Ilim Holding S.A. (Ilim)
completed a 50:50 joint venture to operate a pulp and paper business located in Russia. Ilims facilities include three paper mills located in Bratsk, Ust-Ilimsk, and Koryazhma, Russia, with combined total pulp and paper capacity of over
2.5 million tons. Ilim has exclusive harvesting rights on timberland and forest areas exceeding 12.8 million acres (5.2 million hectares).
Products and brand designations appearing in italics are trademarks of International Paper or a related company.
INDUSTRY SEGMENT RESULTS
Industrial Packaging
Demand for Industrial Packaging products is closely correlated with non-durable industrial goods production, as well as with demand for processed
foods, poultry, meat and agricultural products. In addition to prices and volumes, major factors affecting the profitability of Industrial Packaging are raw material and energy costs, freight costs, manufacturing efficiency and product mix.
Industrial Packaging results
include the CBPR business acquired in the 2008 third quarter. Net sales for 2010 increased 11% to $9.8 billion compared with $8.9 billion in 2009, and 28% compared with $7.7 billion in 2008. Operating profits were 9% higher in 2010 than in 2009 and
more than double 2008 levels. Excluding alternative fuel mixture credits, facility closure costs and costs associated with the CBPR integration, operating profits in 2010 were 14% higher than in 2009 and 75% higher than in 2008. Benefits from higher
sales volumes and decreased
lack-of-order downtime ($162 million), the effects of higher sales price realizations ($313 million), favorable operating costs ($40 million) and lower other costs ($22 million) were partially
offset by less favorable mix ($40 million), higher planned maintenance downtime costs ($16 million) and higher raw material and freight costs ($375 million). Additionally, operating profits in 2010 included plant closure costs of $19 million, while
operating profits in 2009 included a gain of $849 million relating to alternative fuel mixture credits, U.S. plant closure costs of $653 million, integration costs associated with the acquisition of the CBPR business of $87 million and costs
associated with the shutdown of the Etienne mill in France of $87 million.
Industrial Packaging
In millions
2010
2009
2008
Sales
$
9,840
$
8,890
$
7,690
Operating Profit
826
761
390
North American Industrial Packaging results
include the net sales and operating profits of the CBPR business since the August 4, 2008 acquisition date. Net sales were $8.4 billion in 2010 compared with $7.6 billion in 2009 and $6.2 billion in 2008. Operating profits in 2010 were $763
million ($776 million excluding facility closure costs) compared with $791 million ($682 million excluding alternative fuel mixture credits, mill closure costs and costs associated with the CBPR integration) in 2009 and $322 million ($414 million
excluding charges related to the write-up of the CBPR inventory to fair value, CBPR integration costs and other facility closure costs) in 2008.
Sales volumes increased in 2010 compared with 2009 due to stronger customer demand for boxes and for exported linerboard. Average sales price realizations were significantly higher reflecting the impact of 2010
announced price increases for domestic and exported containerboard. Average sales margins for boxes decreased as box sales price increases were outpaced by increases in the raw material cost of containerboard. Input costs were sharply higher,
primarily for recycled fiber, but also for wood and energy, while chemical costs decreased. Freight costs were also higher. Planned maintenance downtime costs increased from 2009 levels, while operating costs were significantly lower reflecting the
fixed cost savings from the closures of the Albany, Oregon and Pineville, Louisiana mills in the 2009 fourth quarter and the realization of cost reduction and synergy initiatives in the box plants. Lack-of-order downtime in 2010 was about 130,000
tons in addition to a capacity reduction of about
27
1.5 million tons associated with the closures of the Albany, Oregon and Pineville, Louisiana mills and the idling of a paper machine at the Valliant mill in December 2009. Lack-of-order
downtime in 2009 was about 2.2 million tons including 450,000 tons related to the idled paper machine at the Valliant, Oklahoma mill and the December 2009 shutdowns of the Albany, Oregon and Pineville, Louisiana mills.
Looking ahead to 2011, sales volumes in the first quarter are expected to remain at about fourth quarter levels although box volumes may be
impacted by adverse weather conditions in the U.S. Average sales price realizations are expected to decrease reflecting a decline in exported linerboard sales prices, while domestic linerboard sales prices should be about flat and box sales price
realizations should show a modest increase. Input costs for purchased fiber are expected to be higher on average as first-quarter 2011 costs are expected to remain at the late fourth-quarter 2010 level. In addition, wood and energy costs are
expected to increase. Planned maintenance downtime costs should be higher with outages scheduled at three mills. Operating costs are expected to be favorable in both the containerboard and box businesses.
European Industrial Packaging net sales were
$990 million in 2010 compared with $980 million in 2009 and $1.2 billion in 2008. Operating profits in 2010 were $70 million ($73 million before costs associated with the closure of the Etienne mill in France) compared with a loss of $30 million (a
gain of $57 million excluding costs associated with the closure of the Etienne mill in France) in 2009 and earnings of $64 million in 2008. Sales volumes in 2010 were higher than in 2009 primarily reflecting improved demand for packaging in the
industrial markets. Average sales margins decreased as box price increases only partially offset higher raw material costs for kraft and recycled containerboard. Other input costs were about the same in 2010 as in 2009. Operating costs were
favorable and the business benefitted from the operating cost savings associated with the closure of the Etienne mill in France in November 2009. Operating earnings included $3 million in 2010 and $87 million in 2009 for closure costs associated
with the Etienne, France mill closure.
Entering the first quarter of 2011, sales volumes are expected to be lower reflecting seasonally
weaker demand for agricultural boxes than in the fourth quarter of 2010. Average margins are expected to remain stable as box price increases are expected to partly offset containerboard cost increases in Europe. Operating costs are expected to be
favorable.
Asian Industrial Packaging net sales for 2010 were $495 million compared with $325 million in 2009 and $350 million in 2008. Operating earnings for the packaging operations were a loss of $7 million (a loss of $4 million excluding facility
closure costs) in 2010 compared with earnings of $3 million in both 2009 and 2008. Earnings in 2010 include the results of SCA Packaging Asia since the acquisition on June 30, 2010, including the impact of incremental integration expenses.
Operating earnings for the distribution activities of the business were about breakeven for 2010 compared with a loss of $3 million in
2009 and earnings of $1 million in 2008. In 2009, an expense of $2 million was taken for the impairment of an investment in a joint venture.
Printing Papers
Demand for Printing
Papers products is closely correlated with changes in commercial printing and advertising activity, direct mail volumes and, for uncoated cut-size products, with changes in white-collar employment levels that affect the usage of copy and laser
printer paper. Market pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions. Principal cost drivers include manufacturing efficiency, raw material and energy costs and
freight costs.
Printing Papers
net sales for 2010 increased 5% from 2009, but decreased 13% from 2008. Operating profits in 2010 were 56% lower than in 2009, but 1% higher than in 2008. However, excluding alternative fuel
mixture credits and plant closure costs, operating profits in 2010 were 72% higher than in 2009 and 9% higher than in 2008. Benefits from higher sales price realizations ($365 million), lower operating costs ($126 million) and improved mix ($32
million) were partially offset by the net impact of lower sales volumes ($13 million), higher raw material and freight costs ($111 million), higher planned mill maintenance downtime costs ($18 million) and higher other costs ($49 million). In
addition, operating profits in 2010 included $315 million of costs associated with the permanent shutdown of our Franklin, Virginia mill, while operating profits in 2009 included $884 million of alternative fuel mixture credits, $223 million of
shutdown costs for the Franklin, Virginia mill, and $34 million of other restructuring costs.
Printing Papers
In millions
2010
2009
2008
Sales
$
5,940
$
5,680
$
6,810
Operating Profit
481
1,091
474
28
North American Printing Papers net sales in 2010 were $2.8 billion compared with $2.8 billion in 2009 and $3.4 billion in 2008. Operating earnings in 2010 were $18 million ($333 million excluding facility closure costs) compared with $746
million ($307 million excluding alternative fuel mixture credits and facility closure costs) in 2009 and $405 million ($435 million excluding shutdown costs for a paper machine) in 2008.
Sales volumes decreased in 2010 compared with 2009 due to reduced production capacity related to the permanent closure of the Franklin, Virginia
mill in the second quarter of 2010 and wood supply constraints in the first quarter of 2010. Average sales price realizations were higher reflecting the realization of price increases for uncoated freesheet paper announced in the first half of 2010.
Input costs for wood, energy and purchased pulp were higher, but were partially offset by lower costs for chemicals. Freight costs increased due to higher fuel costs and overall higher average miles per shipment following the closure of the
Franklin, Virginia mill. Operating costs were unfavorable due to higher depreciation expense related to increased production partially offset by cost savings associated with the closure of the Franklin, Virginia mill. Planned maintenance downtime
costs were also higher. Lack-of-order downtime in 2010 was approximately 21,000 tons compared with 405,000 tons in 2009. In addition, capacity was reduced by 450,000 tons in 2010 due to the closure of the Franklin, Virginia mill in April. Operating
earnings included charges of $315 million in 2010 and $223 million in 2009 for costs associated with the closure of the Franklin, Virginia mill. Operating earnings in 2009 also included $671 million of alternative fuel mixture credits and $9 million
of other shutdown costs.
Entering 2011, first quarter sales volumes are expected to increase reflecting seasonally stronger demand.
Average sales price realizations are expected to be mostly stable. Input costs should continue to rise for energy and chemicals, but wood costs should be about flat. Planned maintenance downtime costs are expected to be lower in the 2011
first-quarter compared with the 2010 fourth-quarter.
Brazilian Papers net sales for 2010 of $1.1 billion increased from $960 million in 2009 and $950 million in 2008. Operating profits for 2010 were $159 million compared with $112 million in 2009 and $186 million in 2008. Sales
volumes in 2010 remained at about 2009 levels. Average sales price realizations for uncoated freesheet paper increased significantly for shipments to Brazilian export markets. Average sales
price realizations for pulp were also higher reflecting stronger market demand as well as supply restrictions resulting from the Chilean earthquake in the first quarter of 2010. Margins were
unfavorably affected by a higher proportion of lower margin export sales when the domestic Brazilian market did not grow as anticipated. Raw material costs were lower for wood and chemicals, but this benefit was offset by higher purchased pulp
costs. Operating costs were lower in 2010, but planned maintenance downtime costs were higher.
Entering 2011, sales volumes are
expected to be lower than in the fourth quarter of 2010 due to seasonally weaker customer demand for uncoated freesheet paper. Profit margins are expected to be lower reflecting a less favorable geographic sales mix and lower sales price
realizations in the Brazilian domestic market. Input costs are expected to be slightly higher for chemicals, but operating costs should be favorable.
European Papers net sales in 2010 were $1.3 billion compared with $1.3 billion in 2009 and $1.7 billion in
2008. Operating profits in 2010 were $197 million ($199 million excluding an asset impairment charge associated with the Inverurie, Scotland mill) compared with $92 million ($115 million excluding expenses associated with the closure of the
Inverurie, Scotland mill) in 2009 and $39 million ($146 million excluding a charge to reduce the carrying value of the assets at the Inverurie, Scotland mill to their estimated realizable value) in 2008.
Sales volumes in 2010 were slightly lower than in 2009 largely due to the closure of the Inverurie, Scotland mill in 2009. Average sales price
realizations for uncoated freesheet paper increased due to improved market conditions and market pulp prices were significantly higher due to strong demand as well as supply restrictions resulting from the Chilean earthquake in the first quarter of
2010. Manufacturing operating costs were favorable due to excellent mill performance and operating efficiencies. Planned maintenance downtime costs were slightly lower. Input costs were higher for wood, energy and purchased pulp, but were lower for
chemicals. Operating profits in 2010 reflect unfavorable foreign exchange impacts.
Looking ahead to 2011, sales volumes in the first
quarter are expected to be slightly lower than in the fourth quarter of 2010 due to seasonally weaker demand for uncoated freesheet paper in Russian markets partially offset by increased demand for uncoated freesheet paper in Europe. Average sales
29
price realizations should be higher due to increased prices for board and newsprint in Europe. Input costs are expected to be higher for wood, energy and chemicals. Planned maintenance downtime
costs should be lower with no outages planned for the first quarter of 2011 and operating costs are expected to be favorable.
Asian Printing Papers net sales were $80 million in 2010 compared with $50 million in 2009 and $20 million in 2008. Operating earnings were less than $1
million in all periods.
U.S. Market Pulp net sales were $715 million in 2010 compared with $575 million in 2009 and $750 million in 2008. Operating earnings in 2010 were $107 million compared with $140 million (a loss of $71 million excluding alternative
fuel mixture credits and plant closure costs) in 2009 and a loss of $156 million (a loss of $33 million excluding costs associated with the permanent shutdown of the Bastrop, Louisiana mill) in 2008.
Sales volumes in 2010 increased from 2009 levels. Average sales price realizations were significantly higher reflecting the impact of stronger
market demand coupled with supply constraints in the first half of the year due to the Chilean earthquake. Average margins improved reflecting an increase in shipments of higher-margin fluff pulp. Input costs increased for wood and energy, but were
partially offset by lower chemical costs. Freight costs increased due to higher fuel costs. Mill operating costs were favorable, but planned maintenance downtime costs were higher. Lack-of-order downtime decreased in 2010 to an immaterial amount
compared with 58,000 tons in 2009.
In the first quarter of 2011, sales volumes are expected to be about flat. Average sales price
realizations are expected to decrease reflecting competitive pressure on paper and tissue pulp prices. Input costs should be about flat. Planned maintenance downtime costs will be higher with outages planned during the first quarter of 2011 at two
mills compared with none in the fourth quarter of 2010.
Consumer Packaging
Demand and pricing for Consumer Packaging products correlate closely with consumer spending and general economic activity. In addition to prices
and volumes, major factors affecting the profitability of Consumer Packaging are raw material and energy costs, freight costs, manufacturing efficiency and product mix.
Consumer Packaging net sales in 2010 increased 11% from 2009 and 6% from 2008. Operating profits decreased 52% compared with 2009, but increased significantly compared with 2008. Excluding alternative fuel mixture credits and
facility closure costs, 2010 operating earnings were 21% higher than in 2009 and were significantly higher than in 2008.
Benefits from
higher sales volumes and lower lack-of-order downtime ($76 million), higher sales price realizations ($120 million) and lower operating costs ($13 million) were partially offset by higher raw material and freight costs ($157 million) and higher
other costs ($15 million). In addition, operating profits in 2009 included $330 million of alternative fuel mixture credits and $67 million of costs associated with the permanent shutdown of the Franklin, Virginia mill.
Consumer Packaging
In millions
2010
2009
2008
Sales
$
3,400
$
3,060
$
3,195
Operating Profit
207
433
17
North American Consumer Packaging net sales
were $2.4 billion in 2010 compared with $2.2 billion in 2009 and $2.5 billion in 2008. Operating earnings in 2010 were $97 million ($105 million excluding facility closure costs) compared with $343 million ($87 million excluding alternative fuel
mixture credits and facility closure costs) in 2009 and $8 million ($38 million excluding facility closure costs) in 2008.
Coated
Paperboard sales volumes were higher in 2010 compared with 2009 reflecting stronger market demand. Average sales price realizations improved as sales prices recovered in the second half of 2010 after declining in the second half of 2009. Raw
material costs for wood, energy and chemicals were higher in 2010 and freight costs also increased. Operating costs were favorable and planned maintenance downtime costs were about even with 2009. The business took approximately 17,000 tons of
lack-of-order downtime in 2010 compared with approximately 300,000 tons in 2009. Capacity in 2010 was reduced by 140,000 tons related to the shutdown of the paperboard machine at the Franklin, Virginia mill at the end of 2009. Operating results in
2009 include income of $330 million for alternative fuel mixture credits and $67 million of expenses for shutdown costs for the Franklin, Virginia mill.
Shorewood sales volumes were lower in 2010 compared with 2009 primarily reflecting weaker demand in the tobacco segment. Sales volumes in
30
the home entertainment segment in 2010 improved compared with 2009, largely due to a strong fourth quarter. Average sales margins increased reflecting a more favorable mix of products sold, but
this benefit was offset by higher operating costs. Both raw material and freight costs were slightly higher. Charges to restructure operations were $8 million in 2010 compared with $7 million in 2009.
Foodservice sales volumes increased in 2010 compared with 2009 with the majority of the growth coming from new customers and the sale of new
products to existing customers. Average sales price realizations were lower in 2010 due to price decreases in the second half of 2009, but sales prices began to recover in the second half of 2010. Raw material costs were higher primarily for board
and resins. Freight costs were significantly higher, but operating costs were lower.
Entering 2011, Coated Paperboard sales volumes in
the first quarter are expected to be at about fourth-quarter levels. Average sales price realizations should be slightly higher reflecting the continued realization of price increases announced in 2010. Raw material costs for wood and energy are
expected to increase, but chemical costs should be lower. No planned maintenance downtime is scheduled for the first quarter. Shorewood sales volumes are expected to be lower reflecting seasonal decreases in home entertainment segment shipments.
Operating costs are expected to be favorable, and costs for raw materials and freight should be lower. Foodservice sales volumes are expected to be seasonally weaker. Average sales price realizations should be about flat, while raw material costs
should also remain at about fourth-quarter levels.
European Consumer Packaging
net sales in 2010 were $345 million compared with $315 million in 2009 and $300 million in 2008. Operating earnings in 2010 were $76 million compared with $66 million in 2009 and $22 million in
2008. Sales volumes were about flat year-over-year. Average sales price realizations were higher in 2010 compared with 2009 in Poland and Russia reflecting improving market conditions. Raw material costs increased for wood and energy.
Looking forward to 2011, sales volumes in the first quarter are expected to be slightly higher than in the fourth quarter of 2010. Average sales
price realizations are expected to be higher in Europe, but about flat in Russia. Input costs for wood, energy and chemicals should increase. No planned maintenance outages are scheduled for the first quarter of 2011.
Asian Consumer Packaging net sales were $705 million in 2010 compared with $545 million in 2009 and $390 million in 2008. Operating earnings in 2010 were $34 million compared with $24 million in 2009 and a loss of $13 million in 2008.
Average sales price realizations were significantly higher in 2010 particularly for folding carton board and coated bristols, but were largely offset by higher raw material costs, primarily for pulp. Sales volumes were higher reflecting solid market
demand. Average margins improved due to a more favorable mix of products sold.
In the first quarter of 2011, sales volumes are expected
to be about flat. Average sales price realizations should improve, but are expected to be mostly offset by higher input costs.
Distribution
xpedx , our distribution business, markets a diverse array of products and supply chain services to
customers in many business segments. Customer demand is generally sensitive to changes in general economic conditions, although the commercial printing segment is also dependent on corporate advertising and promotional spending. Distributions
margins are relatively stable across an economic cycle. Providing customers with the best choice and value in both products and supply chain services is a key competitive factor. Additionally, efficient customer service, cost-effective logistics and
focused working capital management are key factors in this segments profitability.
Distribution
In millions
2010
2009
2008
Sales
$
6,735
$
6,525
$
7,970
Operating Profit
78
50
103
Distributions 2010 annual sales
increased 3% from 2009, but decreased 15% from 2008 while operating profits in 2010 increased 56% compared with 2009, but decreased 24% compared with 2008.
Annual sales of printing papers and graphic arts supplies and equipment totaled $4.2 billion in 2010 compared with $4.1 billion in 2009 and $5.2 billion in 2008, reflecting weak economic conditions in 2009 and a
slowly recovering 2010 market. Trade margins as a percent of sales for printing papers increased from 2009 and 2008 due to a relative increase in higher margin warehouse sales. Revenue from packaging products was $1.5 billion in 2010 compared with
$1.3 billion in 2009 and $1.7 billion in 2008, but packaging margins declined reflecting a
31
relative increase in orders shipped mill direct which trade at a lower margin. Facility supplies annual revenue was $1.0 billion in 2010 compared with $1.1 billion in both 2009 and 2008
reflecting a drop in demand among retail customers.
Operating profits were $78 million in 2010 compared with $50 million in 2009 and
$103 million in 2008. Compared with 2009, operating profits improved due to cost reductions and increased sales. Operating profits in 2010 included costs of approximately $10 million related to exiting certain retail store and printing equipment
segments, and for professional fees related to a strategic study of the xpedx business as a whole that will be evaluated during the first half of 2011. Operating profits in 2009 included a $5 million charge for costs associated with the
reorganization of the Companys xpedx operations in New Jersey.
Looking ahead to the first quarter of 2011, sales volumes and
earnings are expected to be seasonally lower and could be impacted by adverse weather conditions, but average sales margins are expected to improve. Operating costs are expected to decrease.
Forest Products
Forest Products operating results are driven by the timing and pricing
of specific forestland tract sales.
Forest Products
In millions
2010
2009
2008
Sales
$
220
$
45
$
200
Operating Profit
94
25
409
Operating profits in 2010 included a $39 million gain on the sale of mineral rights on more than 7 million acres throughout the U.S and a gain
of $50 million on the sale of 163,000 acres of land in the southeastern U.S. The Company has substantially completed its land sales and earnings for future land sales are expected to be insignificant. Beginning in 2011, Forest Products will no
longer be reported as a separate industry segment.
Equity Earnings, Net of Taxes Ilim Holding S.A.
On October 5, 2007, International Paper and Ilim Holding S.A. (Ilim) announced the completion of a 50:50 joint venture to operate
in Russia. Due to the complex structure of Ilims operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the Company reports its
share of Ilims operating results on a one-quarter lag basis. Accordingly, the accompanying consolidated statement of operations
for the twelve months ended December 31, 2010 includes the Companys 50% share of Ilims operating results for the period from October 1, 2009 through September 30, 2010,
together with the results of other small equity investments, under the caption Equity earnings, net of taxes. Ilim is reported as a separate reportable industry segment.
The Company recorded equity earnings, net of taxes, of $55 million for Ilim in 2010 compared with an equity loss, net of taxes, of $50 million in 2009 and equity earnings, net of taxes, of $54 million in 2008.
Operating results recorded in 2010 included an after-tax asset impairment charge of $22 million and an after-tax foreign exchange gain of $2 million on the remeasurement of U.S. dollar-denominated debt. Operating results recorded in 2009 included a
$25 million after-tax foreign exchange loss on the remeasurement of U.S. dollar-denominated debt, a $19 million charge, before and after taxes, to write-off project development expenses, and a $5 million provision, before and after taxes, for the
write-down of assets.
Sales volumes for the joint venture increased year-over-year primarily for pulp and containerboard, reflecting
strong market demand. Average sales price realizations were significantly higher in 2010 than in 2009 for softwood and hardwood pulp in both the Russian domestic market and the Chinese export market as well as for linerboard. Input costs increased,
primarily for wood. The Company received cash dividends from the joint venture of $33 million in July 2010 and $51 million in December 2009.
For Ilims 2010 fourth quarter, which will be reported in the Companys 2011 first quarter, market demand is expected to steadily improve throughout the quarter. Average sales price realizations are
expected to increase for linerboard, while softwood and hardwood pulp prices remain steady. Input costs for wood will be seasonally higher and fuel costs are also expected to increase. Operating costs are expected to be favorable, but the foreign
exchange impact is expected to be unfavorable.
A key element of the proposed joint venture strategy is a long-term investment program in
which the joint venture will invest, through cash from operations and additional borrowings by the joint venture, approximately $1.5 billion in Ilims three mills over approximately five years. This planned investment in the Russian pulp and
paper industry will be used to upgrade equipment, increase production capacity and allow for new high-value coated and uncoated paper, pulp and corrugated packaging product development. This capital expansion strategy was initiated in the second
quarter of 2010 with the announcement of a $670 million project to build a
32
new pulp line at Ilims Bratsk mill in Siberia, followed in June by the announcement of a $270 million project to install a new coated and uncoated woodfree paper machine at the Koryazhma
mill. These projects are being financed through additional borrowings by the joint venture and cash flow from operations.
LIQUIDITY AND CAPITAL RESOURCES
Overview
A major factor in
International Papers liquidity and capital resource planning is its generation of operating cash flow, which is highly sensitive to changes in the pricing and demand for our major products. While changes in key cash operating costs, such as
energy, raw material and transportation costs, do have an effect on operating cash generation, we believe that our focus on cost controls has improved our cash flow generation over an operating cycle.
As part of our continuing focus on improving our return on investment, we have focused our capital spending on improving our key paper and
packaging businesses both globally and in North America.
Cash uses during 2010 were primarily focused on voluntary contributions to the
Companys pension plan and higher capital spending.
Cash Provided by Operations
Cash provided by continuing operations totaled $1.6 billion in 2010 compared with $4.7 billion for 2009 and $2.7 billion for 2008.
The major components of cash provided by continuing operations are earnings from continuing operations adjusted for non-cash income and expense
items and changes in working capital. Earnings from continuing operations, adjusted for non-cash income and expense items, decreased by $2.1 billion in 2010 versus 2009 driven mainly by $1.7 billion of cash received from alternative fuel mixture
credits in 2009. Cash used for working capital components, accounts receivable and inventory less accounts payable and accrued liabilities, interest payable and other totaled $458 million in 2010, down from a source of $479 million in 2009 and a
source of $317 million in 2008. The use of cash in 2010 primarily related to higher accounts receivable balances due to an increase in sales and higher inventory levels at year-end in anticipation of mill outages in the 2011 first quarter.
The Company generated free cash flow of approximately $1.7 billion, $2.2 billion and $1.7 billion in 2010, 2009 and 2008, respectively.
Free cash flow is a
non-GAAP measure and the most comparable GAAP measure is cash provided by operations. Management uses free cash flow as a liquidity metric because it measures the amount of cash generated that is
available to maintain our assets, make investments or acquisitions, pay dividends and reduce debt. The following is a reconciliation of free cash flow to cash provided by operations:
In millions
2010
2009
2008
Cash provided by operations
$
1,631
$
4,655
$
2,669
Less/Add:
Cash invested in capital projects
(775
)
(534
)
(1,002
)
Cash contribution to pension plan, net of taxes
1,042
0
0
Cash received from European accounts receivable monetization
(205
)
Cash received from alternative fuel mixture credits
(132
)
(1,684
)
0
Reduction in cash taxes paid related to cellulosic bio-fuel tax credits
(17
)
0
0
Free Cash Flow
$
1,749
$
2,232
$
1,667
Alternative
Fuel Mixture Credits
The U.S. Internal Revenue Code provided a tax credit for companies that use alternative fuel mixtures to
produce energy to operate their businesses. The credit, equal to $0.50 per gallon of alternative fuel contained in the mixture, is refundable to the taxpayer. In January 2009, the Company received notification that its application to be registered
as an alternative fuel mixer had been approved. For the year ended December 31, 2009, the Company filed claims for alternative fuel mixture credits covering eligible periods subsequent to November 2008 through October 25, 2009 totaling
approximately $1.7 billion, all of which had been received in cash at December 31, 2009. Additionally, the Company recorded $379 million of alternative fuel mixture credits as a reduction of income taxes payable at December 31, 2009. The
Company recorded these credits using the accrual method of accounting based on the estimated eligible volumes reflected in its filed claims. Accordingly, the accompanying consolidated statement of operations includes credits of approximately $2.1
billion for the year ended December 31, 2009 in Cost of products sold ($1.4 billion after taxes), representing eligible alternative fuel mixture credits earned through December 31, 2009, when the credit expired.
Cellulosic Bio-fuel Tax Credit
In a
memorandum dated June 28, 2010, the IRS concluded that black liquor would also qualify for the cellulosic bio-fuel tax credit of $1.01 per gallon produced in 2009. On October 15, 2010, the IRS ruled
33
that companies may qualify in the same year for the $0.50 per gallon alternative fuel mixture credit and the $1.01 cellulosic bio-fuel tax credit for 2009, but not for the same gallons. To the
extent a taxpayer changes their position and uses the $1.01 credit, they must re-pay the refunds they received as alternative fuel mixture credits attributable to the gallons converted to the cellulosic bio-fuel credit. The repayment of this refund
must include interest.
One important difference between the two credits is that the $1.01 credit must be credited against a
companys Federal taxable earnings, and the credit may be carried forward against taxable earnings through 2015. In contrast, the $0.50 credit was refundable in cash. The cellulosic bio-fuel credit is required to be included in Federal taxable
income.
The Company filed an application with the IRS on November 18, 2010, to receive the required registration code to become a
registered cellulosic bio-fuel producer. At present, the Company has not received this registration code; however, the Company believes approval of the application for the registration code to be ministerial in nature.
The Company has evaluated the optimal use of the two credits with respect to gallons produced in 2009. Considerations include uncertainty around
future federal taxable income, the taxability of the alternative fuel mixture credit, future liquidity and uses of cash such as, but not limited to, debt re-payments and voluntary pension contributions versus repayment of alternative fuel mixture
credits with interest. At the present time, the Company does not intend to convert any gallons under the alternative fuel mixture credit to gallons under the cellulosic bio-fuel credit. The Company will continue evaluating its position with regard
to the previously claimed alternative fuel mixture credit gallons produced in 2009. This continued evaluation may result in the Company repaying some or all of the cash received with respect to the $0.50 credit, and amendment of the Companys
2009 tax return. Due to the aforementioned considerations, the Company cannot quantify the value of additional cellulosic bio-fuel credits, but it could be significant.
During 2009, the Company did produce 64 million gallons of black liquor that were not eligible for the alternative fuel mixture credit. The Company does intend to claim these gallons for the cellulosic
bio-fuel credit by amending the Companys 2009 tax return. The impact of this amendment, is a net $40 million credit to Income tax provision (benefit) for 2010.
As is the case with other tax credits, taxpayer claims are subject to possible future review by the
IRS which has the authority to propose adjustments to the amounts claimed, or credits received.
Investment Activities
Investment activities in 2010 were up from 2009 reflecting an increase in capital spending and the acquisition of SCA Packaging Asia. The Company
maintains an average capital spending target of $1.0 billion per year over the course of an economic cycle. Capital spending for continuing operations was $775 million in 2010, or 53% of depreciation and amortization, compared with $534 million in
2009, or 36% of depreciation and amortization, and $1.0 billion, or 74% of depreciation and amortization in 2008. Across our businesses, capital spending as a percentage of depreciation and amortization ranged from 38% to 70% in 2010.
The following table shows capital spending for continuing operations by business segment for the years ended December 31, 2010, 2009 and 2008.
In millions
2010
2009
2008
Industrial Packaging
$
301
$
183
$
282
Printing Papers
283
218
383
Consumer Packaging
159
126
287
Distribution
5
6
9
Forest Products
3
1
2
Subtotal
751
534
963
Corporate and other
24
0
39
Total from continuing operations
$
775
$
534
$
1,002
Capital expenditures in 2011 are currently expected to be about $1.2 to $1.3 billion, or 86% to 93% of depreciation and amortization.
Acquisitions
On June 30, 2010,
International Paper completed the acquisition of SCA Packaging Asia (SCA) for a preliminary purchase price of $205 million, including $171 million in cash plus assumed debt of $34 million, subject to post-closing adjustments. The SCA packaging
business in Asia consists of 13 corrugated box plants and two specialty packaging facilities, which are primarily in China, along with locations in Singapore, Malaysia and Indonesia.
On August 4, 2008, International Paper completed the acquisition of the assets of Weyerhaeuser Companys Containerboard, Packaging and
Recycling (CBPR) business for approximately $6 billion in cash, subject to post-closing adjustments. In June 2008, the Company had issued $3 billion of
34
unsecured senior notes in anticipation of the acquisition. The remainder of the purchase price was financed through borrowings under a $2.5 billion bank term loan, $0.4 billion of borrowings
under a receivables securitization program and existing cash balances. The CBPR operating results are included in International Papers North American Industrial Packaging business from the date of acquisition.
Financing Activities
2010: Financing activities during 2010 included debt issuances of $193 million and retirements of $576 million, for a net reduction of $383 million.
In November 2010, International Paper repaid approximately $54 million of notes with interest rates ranging from 7.3% to 9.375% and
original maturities from 2018 to 2039. Pre-tax early debt retirement costs of $13 million related to these debt payments are included in Restructuring and other charges in the accompanying consolidated statement of operations.
During the third quarter ended September 30, 2010, International Paper repaid approximately $111 million of notes with interest rates ranging
from 5.375% to 6.8% and original maturities from 2016 to 2024.
In May 2010, International Paper repaid approximately $108 million of
notes with interest rates ranging from 5.3% to 9.375% and original maturities from 2015 to 2019. In connection with these early debt extinguishments, interest rate swap hedges with a notional value of $2 million were undesignated as effective fair
value hedges. The resulting gain was immaterial. Pre-tax early debt retirement costs of $18 million related to these debt repayments, net of gains on swap terminations, are included in Restructuring and other charges in the accompanying consolidated
statement of operations.
In June 2010, interest rate swap agreements issued in the fourth quarter of 2009 and designated as fair value
hedges with a notional value of $100 million were terminated. The termination was not in connection with the early retirement of debt. The resulting gain of $3 million was deferred and recorded in Long-term debt and will be amortized as an
adjustment of interest expense over the life of the underlying debt through 2019.
During the first quarter of 2010, International Paper
repaid approximately $120 million of notes with interest rates ranging from 5.25% to 7.4% and original maturities from 2010 to 2027. In connection with these early debt retirements, previously deferred gains of $1 million related to earlier swap
terminations were recognized in earnings. Pre-tax early
debt retirement costs of $4 million related to these debt repayments, net of gains on swap terminations, are included in Restructuring and other charges in the accompanying consolidated statement
of operations.
Also in the first quarter of 2010, approximately $700 million of fixed-to-floating interest rate swaps, issued in 2009,
were terminated. These terminations were not in connection with early debt retirements. The resulting $2 million gain was deferred and recorded in Long-term debt and is being amortized as an adjustment of interest expense over the life of the
underlying debt through April 2015.
International Paper utilizes interest rate swaps to change the mix of fixed and variable rate debt
and manage interest expense. At December 31, 2010, International Paper had interest rate swaps with a total notional amount of $428 million and maturities ranging from one to six years. During 2010, existing swaps increased the weighted average
cost of debt from 7.22% to an effective rate of 7.26%. The inclusion of the offsetting interest income from short-term investments reduced this effective rate to 6.86%.
Other financing activities during 2010 included the issuance of approximately 2.6 million shares of treasury stock, net of restricted stock withholding, and 1.8 million shares of common stock for various
plans. Payments of restricted stock withholding taxes totaled $26 million.
In April 2010, International Paper announced that the
quarterly dividend would be increased from $0.025 per share to $0.125 per share, effective for the 2010 second quarter. Additionally, in January 2011, International Paper announced that the quarterly dividend would be increased from $0.125 per share
to $0.1875 per share, effective with the dividend payable March 15, 2011 to shareholders of record on February 15, 2011.
2009: Financing activities during 2009
included debt issuances of $3.2 billion and retirements of $6.3 billion, for a net reduction of $3.1 billion.
In December 2009,
International Paper issued $750 million of 7.3% senior unsecured notes with a maturity date in November 2039. The proceeds from this borrowing, along with available cash, were used to repay the remaining $1 billion of the $2.5 billion long-term debt
issued in connection with the CBPR business acquisition. During 2009, additional payments related to this debt totaled approximately $1.4
35
billion. Also in connection with the above debt repayment, International Paper undesignated $1 billion of interest rate swaps entered into in 2008 that qualified as cash flow hedges, resulting in
a $24 million loss. This loss was reclassified from Accumulated other comprehensive loss and included in Restructuring and other charges in the accompanying consolidated statement of operations.
Also in the fourth quarter of 2009, the Company entered into various fixed-to-floating interest rate swap agreements with a notional amount of
approximately $1 billion to hedge existing debt. These interest rate swaps mature within a range of five to ten years.
In December
2009, International Paper Investments (Luxembourg) S.a.r.l, a wholly-owned subsidiary of International Paper, repaid $214 million of notes with an interest rate of LIBOR plus 40 basis points and an original maturity in 2010. Other debt activity in
the fourth quarter of 2009 included the repayment of approximately $235 million of notes with interest rates ranging from 4.0% to 9.375% and original maturities from 2009 to 2038.
Additional pre-tax early debt retirement costs of $34 million related to fourth-quarter debt repayments and swap activity are included in
Restructuring and other charges in the accompanying consolidated statement of operations.
In August 2009, International Paper issued $1
billion of 7.5% senior unsecured notes with a maturity date in August 2021. The proceeds from this borrowing were used to repay approximately $942 million of notes with interest rates ranging from 5.125% to 7.4% and original maturities from 2012 to
2026.
Also during the third quarter in connection with these early debt retirements, interest rate swaps with a notional value of $520
million, including $500 million of swaps issued in the second quarter of 2009, were terminated or undesignated as effective fair value hedges, resulting in a gain of approximately $9 million. In addition, previously deferred net gains of
$7 million related to earlier swap terminations were recognized in earnings. Pre-tax early debt retirement costs of $102 million related to these debt repayments, net of the gains on swap terminations, are included in Restructuring and other
charges in the accompanying consolidated statement of operations.
Also in August 2009, International Paper entered into a
fixed-to-floating interest rate swap agreement with a notional amount of $100 million due in 2015 to manage interest rate exposure.
In May 2009, International Paper issued $1 billion of 9.375% senior unsecured notes with a maturity
date in May 2019. The proceeds from this borrowing were used to repay approximately $875 million of notes with interest rates ranging from 4.0% to 9.25% and original maturities from 2010 to 2012. Also during the second quarter, International Paper
Company Europe Ltd, a wholly-owned subsidiary of International Paper, repaid $75 million of notes issued in connection with the Ilim Holding S.A. joint venture that matured during the quarter. Pre-tax early debt retirement costs of $25 million
related to second quarter debt repayments and swap activity are included in Restructuring and other charges in the accompanying consolidated statement of operations.
In March 2009, Luxembourg borrowed $468 million of long-term debt with an initial interest rate of LIBOR plus a margin of 450 basis points that varied depending upon the credit rating of the Company, and a maturity
date in March 2012. International Paper used the $468 million of proceeds from the loan and cash of approximately $170 million to repay its 500 million euro-denominated debt (equivalent to $638 million at date of payment) with an original
maturity date in August 2009. As of the end of the third quarter of 2009, the $468 million loan was repaid. Other debt activities in the first quarter of 2009 included the repayment of approximately $366 million of notes with interest rates ranging
from 4.25% to 5.0% that had matured.
Also in the first quarter of 2009, International Paper terminated an interest rate swap with a
notional value of $100 million designated as a fair value hedge, resulting in a gain of $11 million that was deferred and recorded in Long-term debt in the accompanying consolidated balance sheet. As the swap agreement was terminated early, the
resulting gain will be amortized to earnings over the life of the related debt through April 2016.
At December 31, 2009,
International Paper had interest rate swaps with a total notional amount of $3.2 billion and maturities ranging from one to nine years. During 2009, existing swaps increased the weighted average cost of debt from 6.55% to an effective rate of 6.67%.
The inclusion of the offsetting interest income from short-term investments reduced this effective rate to 6.36%.
Other financing
activities during 2009 included the issuance of approximately 2.2 million shares of treasury stock, net of restricted stock withholding, and 3.5 million shares of common stock for various plans. Payments of restricted stock withholding
taxes totaled $10 million.
36
2008: Financing activities during 2008 included debt issuances of $6.0 billion and retirements of $696 million, for a net issuance of $5.3 billion.
In August 2008, International Paper borrowed $2.5 billion of long-term debt with an initial interest rate of LIBOR plus a margin of 162.5 basis
points. The margin varied depending upon the credit rating of the Company. Debt issuance costs of approximately $50 million related to this borrowing were recorded in Deferred charges and other assets in the accompanying consolidated balance sheet
and were being amortized until the debt was repaid in 2009. Also in August 2008, International Paper borrowed approximately $395 million under its receivables securitization program. These funds, together with the $3 billion from unsecured senior
notes borrowed in the second quarter discussed below and other available cash, were used for the CBPR business acquisition in August 2008. As of December 31, 2008, all of the borrowings under the receivables securitization program were repaid.
Also in the third quarter of 2008, International Paper repaid $125 million of the $2.5 billion long-term debt and repurchased $63.5
million of notes with interest rates ranging from 4.25% to 8.70% and original maturities from 2009 to 2038.
The Company also entered
into a series of forward-starting floating-to-fixed interest rate swap agreements with a notional amount of $1.5 billion in anticipation of borrowing for the purchase of the CBPR business. The floating-to-fixed interest rate swaps were effective
September 2008 and matured in September 2010. These forward-starting interest rate swaps were accounted for as cash flow hedges in accordance with ASC 815. In the fourth quarter of 2008, the Company terminated $550 million of these floating-to-fixed
interest rate swap agreements resulting in a loss of approximately $17 million recorded in Accumulated other comprehensive loss in the accompanying consolidated balance sheet (see Note 14 of the Notes to Consolidated Financial Statements in
Item 8. Financial Statements and Supplementary Data).
In the second quarter of 2008, International Paper issued $3 billion of
unsecured senior notes consisting of $1 billion of 7.4% notes due in 2014, $1.7 billion of 7.95% notes due in 2018, and $300 million of 8.7% notes due in 2038. Debt issuance costs of approximately $20 million related to the new debt were recorded in
Deferred charges and other assets in the accompanying consolidated balance sheet and were amortized over the terms of the respective notes.
Also in the second quarter of 2008, International Paper entered into a series of fixed-to-floating
interest rate swap agreements, with a notional amount of $1 billion and maturities in 2014 and 2018, to manage interest rate exposures associated with the new $3 billion of unsecured senior notes. These interest rate swaps were terminated in
December 2008 along with other existing fixed-to-floating interest rate swaps, resulting in a gain of $127 million that was deferred and recorded in Long-term debt in the accompanying consolidated balance sheet. This gain will be amortized over the
life of the related debt through June 2018 (see Note 14 of the Notes to Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data).
At December 31, 2008, International Paper had interest rate swaps with a total notional amount of $1.4 billion and maturities ranging from one to eight years. During 2008, existing swaps decreased the weighted
average cost of debt from 6.41% to an effective rate of 6.07%. The inclusion of the offsetting interest income from short-term investments further reduced this effective rate to 5.21%.
Other financing activities during 2008 included the issuance of approximately 2.4 million shares of treasury stock for various incentive
plans, including stock option exercises that generated approximately $1 million of cash and restricted stock that did not generate cash. Payments of restricted stock withholding taxes totaled $47 million.
Off-Balance Sheet Variable Interest Entities
During 2006 in connection with the sale of approximately 5.6 million acres of forestlands under the Companys 2006 Transformation Plan,
the Company exchanged installment notes (the Timber Notes) totaling approximately $4.8 billion and approximately $400 million of International Paper promissory notes for interests in entities formed to monetize the notes. International Paper
determined that it was not the primary beneficiary of these entities, and therefore should not consolidate these entities. During 2006, these entities acquired an additional $4.8 billion of International Paper debt securities for cash, resulting in
a total of approximately $5.2 billion of International Paper debt obligations held by these entities at December 31, 2006. Since International Paper has, and intends to affect, a legal right to offset its obligations under these debt
instruments with its investments in the entities, International Paper has offset $5.1 billion of interest in the entities against $5.1 billion of International Paper debt obligations held by the entities as of December 31, 2010 and 2009.
37
On February 5, 2010, Moodys Investor Services reduced its credit rating of senior
unsecured long-term debt of the Royal Bank of Scotland N.V. (formerly ABN AMRO Bank N.V.), which issued letters of credit that support $1.4 billion of installment notes received in connection with the Companys 2006 sale of forestlands
discussed above. Following this sale, the installment notes were contributed to third-party entities that used them as collateral for borrowings from a third-party lender. The related loan agreements require that if the credit rating of any bank
issuing letters of credit is downgraded below a specified level, these letters of credit must be replaced within 60 days by letters of credit from another qualifying institution. The Company, retained to provide management services for the
third-party entities that hold the installment notes, replaced the letters of credit within the required 60-day period.
International
Paper also holds variable interests in two financing entities that were used to monetize long-term notes received from the sale of forestlands in 2001 and 2002. International Paper transferred notes (the Monetized Notes, with an original maturity of
10 years from inception) and cash having a value of approximately $1.0 billion to these entities in exchange for preferred interests, and accounted for the transfers as a sale of the notes with no associated gain or loss. In the same period, the
entities acquired approximately $1.0 billion of International Paper debt obligations for cash. At December 31, 2010, International Papers $542 million preferred interest in one of the entities has been offset against related debt
obligations since International Paper has, and intends to affect, a legal right of offset to net-settle these two amounts.
The 2001
Monetized Notes of $499 million, the 2001 International Paper debt obligations of $563 million, and $167 million of the 2002 Monetized Notes, mature in March, June, and the second half of 2011, respectively. International Paper intends to liquidate
its preferred interest in the 2001 financing entities. The 2001 financing entities preferred interest liquidation will reduce Notes Payable and current maturities of long-term debt by $21 million in the first quarter of 2011. Deferred tax
liabilities, associated with the 2001 forestland sales, will be reduced by $155 million as a result of the liquidation. The Company is currently analyzing the cash impact of the liquidation, but does not expect it to significantly impact liquidity.
See Note 11 of the Notes to Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data for a further
discussion of these transactions.
Liquidity and Capital Resources Outlook for 2011
Capital Expenditures and Long-Term Debt
International Paper expects to be able to meet projected capital expenditures, service existing debt and meet working capital and dividend
requirements during 2011 through current cash balances and cash from operations. Additionally, the Company has existing credit facilities totalling $2.5 billion.
The Company was in compliance with all its debt covenants at December 31, 2010. The Companys financial covenants require the maintenance of a minimum net worth of $9 billion and a total-debt-to-capital
ratio of less than 60%. Net worth is defined as the sum of common stock, paid-in capital and retained earnings, less treasury stock plus any cumulative goodwill impairment charges. The calculation also excludes accumulated other comprehensive loss.
The total-debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth. At December 31, 2010, International Papers net worth was $12.4 billion, and the total-debt-to-capital ratio was 41.2%.
The Company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash
flows. Funding decisions will be guided by our capital structure planning objectives. The primary goals of the Companys capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense.
The majority of International Papers debt is accessed through global public capital markets where we have a wide base of investors.
In February 2011, the Company entered into various fixed-to-floating interest rate swap agreements with a notional amount of approximately $100
million to hedge existing debt. The interest rate swaps were effective February 2011 and mature within the next three to four years. These interest rate swaps were designated as fully effective fair value hedges of the benchmark interest
rate.
Maintaining an investment grade credit rating is an important element of International Papers financing strategy. At
December 31, 2010, the Company held long-term credit ratings of BBB (stable outlook) and Baa3 (stable outlook) by S&P and Moodys, respectively.
38
Contractual obligations for future payments under existing debt and lease commitments and purchase
obligations at December 31, 2010, were as follows:
In millions
2011
2012
2013
2014
2015
Thereafter
Maturities of long-term debt (a)
$
313
$
324
$
135
$
559
$
786
$
6,554
Debt obligations with right of offset (b)
542
0
0
0
0
5,122
Lease obligations
162
135
110
87
75
158
Purchase obligations (c)
2,564
749
616
524
515
3,174
Total (d)
$
3,581
$
1,208
$
861
$
1,170
$
1,376
$
15,008
(a)
Total debt includes scheduled principal payments only. The 2011 debt maturities reflect the reclassification of $100 million of Notes payable and current
maturities of long-term debt to Long-term debt based on International Papers intent and ability to renew or convert these obligations, as evidenced by the Companys available bank credit agreements.
(b)
Represents debt obligations borrowed from non-consolidated variable interest entities for which International Paper has, and intends to affect, a legal
right to offset these obligations with investments held in the entities. Accordingly, in its consolidated balance sheet at December 31, 2010, International Paper has offset approximately $5.7 billion of interests in the entities against this
$5.7 billion of debt obligations held by the entities (see Note 11 of the Notes to Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data).
(c)
Includes $2.3 billion relating to fiber supply agreements entered into at the time of the 2006 Transformation Plan forestland sales.
(d)
Not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $188
million.
Pension Obligations and Funding
At December 31, 2010, the projected benefit obligation for the Companys U.S. defined benefit plans determined under U.S. GAAP was approximately $1.5 billion higher than the fair value of plan assets.
Approximately $1.1 billion of this amount relates to plans that are subject to minimum funding requirements. Under current IRS funding rules, the calculation of minimum funding requirements differs from the calculation of the present value of plan
benefits (the projected benefit obligation) for accounting purposes. In December 2008, the Worker, Retiree and Employer Recovery Act of 2008 (WERA) was passed by the U.S. Congress which provided for pension funding relief and technical corrections.
Funding contributions depend on the funding method selected by the Company, and the timing of its implementation, as well as on actual demographic data and the targeted funding level. The Company continually reassesses the amount and timing of any
discretionary contributions and elected to make
voluntary contributions totaling $1.15 billion for the year ended December 31, 2010. At this time, we do not expect that the finalization of the funded status as of December 31, 2010
will require the Company to make cash contributions to its plans in 2011, although the Company may elect to make future voluntary contributions. The timing and amount of future contributions, which could be material, will depend on a number of
factors, including the actual earnings and changes in values of plan assets and changes in interest rates.
Ilim Holding S.A. Shareholders
Agreement
In October 2007, in connection with the formation of the Ilim Holding S.A. joint venture (Ilim), International Paper
entered into a shareholders agreement that includes provisions relating to the reconciliation of disputes among the partners. This agreement provides that at any time after the second anniversary of the formation of Ilim, either the Company or
its partners may commence procedures specified under the deadlock provisions. Under certain circumstances, the Company would be required to purchase its partners 50% interest in Ilim. Any such transaction would be subject to review and
approval by Russian and other relevant anti-trust authorities. Based on the provisions of the agreement, International Paper estimates that the current purchase price for its partners 50% interests would be approximately $550 million to $600
million, which could be satisfied by payment of cash or International Paper common stock, or some combination of the two, at the Companys option. Any such purchase by International Paper would result in the consolidation of Ilims
financial position and results of operations in all subsequent periods. The parties have informed each other that they have no current intention to commence procedures specified under the deadlock provision of the shareholders agreement,
although they have the right to do so.
CRITICAL ACCOUNTING POLICIES
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires International
Paper to establish accounting policies and to make estimates that affect both the amounts and timing of the recording of assets, liabilities, revenues and expenses. Some of these estimates require judgments about matters that are inherently
uncertain.
Accounting policies whose application may have a significant effect on the reported results of operations and financial
position of International Paper, and that can require judgments by management that
39
affect their application, include the accounting for contingencies, impairment or disposal of long-lived assets, goodwill and other intangible assets, pensions, postretirement benefits other than
pensions, and income taxes. The following is a discussion of the impact of these accounting policies on International Paper:
Contingent
Liabilities
Accruals for contingent liabilities, including legal and environmental matters, are recorded when it is probable
that a liability has been incurred or an asset impaired and the amount of the loss can be reasonably estimated. Liabilities accrued for legal matters require judgments regarding projected outcomes and range of loss based on historical experience and
recommendations of legal counsel. Liabilities for environmental matters require evaluations of relevant environmental regulations and estimates of future remediation alternatives and costs. International Paper determines these estimates after a
detailed evaluation of each site.
Impairment of Long-Lived Assets and Goodwill
An impairment of a long-lived asset exists when the assets carrying amount exceeds its fair value, and is recorded when the carrying amount
is not recoverable through cash flows from future operations. A goodwill impairment exists when the carrying amount of goodwill exceeds its fair value. Assessments of possible impairments of long-lived assets and goodwill are made when events or
changes in circumstances indicate that the carrying value of the asset may not be recoverable through future operations. Additionally, testing for possible impairment of goodwill and intangible asset balances is required annually. The amount and
timing of any impairment charges based on these assessments require the estimation of future cash flows and the fair market value of the related assets based on managements best estimates of certain key factors, including future selling prices
and volumes, operating, raw material, energy and freight costs, and various other projected operating economic factors. As these key factors change in future periods, the Company will update its impairment analyses to reflect its latest estimates
and projections.
Pension and Postretirement Benefit Obligations
The charges recorded for pension and other postretirement benefit obligations are determined annually in conjunction with International Papers consulting actuary, and are dependent upon various
assumptions including the expected long-term rate of return on plan assets, discount rates, projected future compensation increases, health care cost trend rates and mortality rates.
Income Taxes
International Paper
records its global tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Where the Company believes that a tax position is supportable for income tax purposes, the item is included in its income
tax returns. Where treatment of a position is uncertain, liabilities are recorded based upon the Companys evaluation of the more likely than not outcome considering technical merits of the position based on specific tax regulations
and facts of each matter. Changes to recorded liabilities are only made when an identifiable event occurs that changes the likely outcome, such as settlement with the relevant tax authority, the expiration of statutes of limitation for the subject
tax year, change in tax laws, or a recent court case that addresses the matter.
Valuation allowances are recorded to reduce deferred
tax assets when it is more likely than not that a tax benefit will not be realized. Significant judgment is required in evaluating the need for and magnitude of appropriate valuation allowances against deferred tax assets. The realization of these
assets is dependent on generating future taxable income, as well as successful implementation of various tax planning strategies.
While
International Paper believes that these judgments and estimates are appropriate and reasonable under the circumstances, actual resolution of these matters may differ from recorded estimated amounts.
SIGNIFICANT ACCOUNTING ESTIMATES
Goodwill Impairment Analysis
Under
the provisions of Accounting Standards Codification (ASC) 350, Intangibles Goodwill and Other, the testing of goodwill for possible impairment is a two-step process. In the first step, the fair value of the Companys
reporting units is compared with their carrying value, including goodwill. If fair value exceeds the carrying value, goodwill is not considered to be impaired. If the fair value of a reporting unit is below the carrying value, then step two is
performed to measure the amount of the goodwill impairment loss for the reporting unit. This analysis requires the determination of the fair value of all of the individual assets and liabilities of the reporting unit, including any currently
unrecognized
40
intangible assets, as if the reporting unit had been purchased on the analysis date. Once these fair values have been determined, the implied fair value of the units goodwill is calculated
as the excess, if any, of the fair value of the reporting unit determined in step one over the fair value of the net assets determined in step two. The carrying value of goodwill is then reduced to this implied value, or to zero if the fair value of
the assets exceeds the fair value of the reporting unit, through a goodwill impairment charge.
The impairment analysis requires a
number of judgments by management. In calculating the estimated fair value of its reporting units in step one, the Company uses the projected future cash flows to be generated by each unit over the estimated remaining useful operating lives of the
units assets, discounted using the estimated cost-of-capital discount rate for each reporting unit. These calculations require many estimates, including discount rates, future growth rates, and cost and pricing trends for each reporting unit.
Subsequent changes in economic and operating conditions can affect these assumptions and could result in additional interim testing and goodwill impairment charges in future periods. Upon completion, the resulting estimated fair values are then
analyzed for reasonableness by comparing them to earnings multiples for historic industry business transactions, and by comparing the sum of the reporting unit fair values and other corporate assets and liabilities divided by diluted common shares
outstanding to the Companys market price per share on the analysis date.
During 2008, as in prior years, the Company performed
the required annual goodwill testing for impairment as of the beginning of the fourth quarter, resulting in a $59 million impairment charge to write off all goodwill for the Companys European Coated Paperboard business. Subsequent to this
testing date, the Company performed an interim test as of December 31, 2008 and recalculated the estimated fair value of its reporting units as of that date using updated future cash flow projections and higher cost-of-capital discount rates.
Based on this testing, step two testing for possible impairment was required for the Companys U.S. Printing Papers business and its U.S. Coated Paperboard business. Based on managements preliminary estimates, an additional goodwill
impairment charge of $379 million was recorded, representing all of the goodwill for the U.S. Coated Paperboard business, as this was managements best estimate of the minimum impairment charge that would be required upon the completion of
detailed step two analyses. In
Febru-
ary 2009, based on additional work performed to date, management determined that it was probable that all of the $1.3 billion of recorded goodwill for the U.S. Printing Papers business would be
impaired when testing was completed. Accordingly, an additional goodwill impairment charge of $1.3 billion was recorded as a charge to operating results for the year ended December 31, 2008. During the first quarter of 2009, the Company
finalized the testing for these businesses resulting in no changes to the recorded impairment charges.
No goodwill impairment charges
were recorded in 2010 or 2009.
Pension and Postretirement Benefit Accounting
The calculations of pension and postretirement benefit obligations and expenses require decisions about a number of key assumptions that can
significantly affect liability and expense amounts, including the expected long-term rate of return on plan assets, the discount rate used to calculate plan liabilities, the projected rate of future compensation increases and health care cost trend
rates.
Benefit obligations and fair values of plan assets as of December 31, 2010, for International Papers pension and
postretirement plans were as follows:
In millions
Benefit
Obligation
Fair Value of
Plan
Assets
U.S. qualified pension
$
9,486
$
8,344
U.S. nonqualified pension
338
0
U.S. postretirement
425
0
Non-U.S. pension
183
156
Non-U.S. postretirement
24
0
The table below shows assumptions used by International Paper to calculate U.S. pension expenses for the years shown:
2010
2009
2008
Discount rate
5.80
%
6.00
%
6.20
%
Expected long-term return on
plan assets
8.25
%
8.25
%
8.50
%
Rate of compensation increase
3.75
%
3.75
%
3.75
%
Additionally, health care cost trend rates used in the calculation of U.S. postretirement obligations for the years shown were:
2010
2009
Health care cost trend rate assumed for next year
8.50
%
9.00
%
Rate that the cost trend rate gradually declines to
5.00
%
5.00
%
Year that the rate reaches the rate it is assumed to remain
2017
2017
41
International Paper determines these actuarial assumptions, after consultation with our actuaries, on
December 31 of each year to calculate liability information as of that date and pension and postretirement expense for the following year. The expected long-term rate of return on plan assets is based on projected rates of return for current
and planned asset classes in the plans investment portfolio. The discount rate assumption was determined based on a yield curve that incorporates approximately 500 Aa-graded bonds. The plans projected cash flows were then matched to the
yield curve to develop the discount rate.
Increasing (decreasing) the expected long-term rate of return on U.S. plan assets by an
additional 0.25% would decrease (increase) 2011 pension expense by approximately $22 million, while a (decrease) increase of 0.25% in the discount rate would (increase) decrease pension expense by approximately $29 million. The effect on net
postretirement benefit cost from a 1% increase or decrease in the annual trend rate would be approximately $1 million.
Actual rates of
return earned on U.S. pension plan assets for each of the last 10 years were:
Year
Return
Year
Return
2010
15.1
%
2005
11.7
%
2009
23.8
%
2004
14.1
%
2008
(23.6
)%
2003
26.0
%
2007
9.6
%
2002
(6.7
)%
2006
14.9
%
2001
(2.4
)%
The
annualized time-weighted rate of return earned on U.S. pension plan assets was 6.5% and 7.2% for the past five and ten years, respectively. The following graph shows the growth of a $1,000 investment in International Papers U.S. Pension Plan
Master Trust. The graph portrays the time-weighted rate of return from 2000-2010.
ASC 715, Compensation Retirement Benefits, provides for delayed recognition of actuarial gains and
losses, including amounts arising from changes in the estimated projected plan benefit obligation
due to changes in the assumed discount rate, differences between the actual and expected return on plan assets, and other assumption changes. These net gains and losses are recognized in pension
expense prospectively over a period that approximates the average remaining service period of active employees expected to receive benefits under the plans (approximately nine years) to the extent that they are not offset by gains and losses in
subsequent years. The estimated net loss and prior service cost that will be amortized from accumulated other comprehensive income into net periodic pension cost for the U.S. pension plans over the next fiscal year are $204 million and $31 million,
respectively.
Net periodic pension and postretirement plan expenses, calculated for all of International Papers plans, were as
follows:
In millions
2010
2009
2008
2007
2006
Pension expense
U.S. plans (non-cash)
$
231
$
213
$
123
$
210
$
377
Non-U.S. plans
0
3
4
5
17
Postretirement expense
U.S. plans
6
27
28
15
7
Non-U.S. plans
1
3
3
8
3
Net expense
$
238
$
246
$
158
$
238
$
404
The increase in 2010 U.S. pension expense principally reflects a decrease in the assumed discount rate to 5.80% in 2010 from 6.00% in 2009 and
higher amortization of unrecognized actuarial losses.
Assuming that discount rates, expected long-term returns on plan assets and rates
of future compensation increases remain the same as in 2010, projected future net periodic pension and postretirement plan expenses would be as follows:
In millions
2012 (a)
2011 (a)
Pension expense
U.S. plans (non-cash)
$
232
$
179
Non-U.S. plans
2
2
Postretirement expense
U.S. plans
8
7
Non-U.S. plans
2
2
Net expense
$
244
$
190
(a)
Based on assumptions at December 31, 2010.
42
The Company estimates that it will record net pension expense of approximately $179 million for its
U.S. defined benefit plans in 2011, with the decrease from expense of $231 million in 2010 reflecting increased plan assets in 2011 as a result of a $1.15 billion voluntary contribution and higher than expected asset returns in 2010, partially
offset by a decrease in the assumed discount rate to 5.60% in 2011 from 5.80% in 2010. Net postretirement benefit costs in 2011 are projected to increase primarily as a result of a decrease in the assumed discount rate to 5.30% in 2011 from 5.40% in
2010, partially offset by a decrease in per capita healthcare costs due to changes in plan provisions.
The market value of plan assets
for International Papers U.S. qualified pension plan at December 31, 2010 totaled approximately $8.3 billion, consisting of approximately 49% equity securities, 31% debt securities, and 20% real estate and other assets. Plan assets
include an immaterial amount of International Paper common stock.
The Companys funding policy for its qualified pension plans is
to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that the Company may determine to be appropriate considering the funded status of the plan, tax deductibility, the cash flows generated by the Company,
and other factors. The Company continually reassesses the amount and timing of any discretionary contributions and could elect to make voluntary contributions in the future. The nonqualified defined benefit plans are funded to the extent of benefit
payments, which totaled $37 million for the year ended December 31, 2010.
Accounting for Stock Options
International Paper follows ASC 718, Compensation Stock Compensation, in accounting for stock options. Under this guidance,
expense for stock options is recorded over the related service period based on the grant-date fair market value.
During each reporting
period, diluted earnings per share is calculated by assuming that in-the-money options are exercised and the exercise proceeds are used to repurchase shares in the marketplace. When options are actually exercised, option proceeds are
credited to equity and issued shares are included in the computation of earnings per common share, with no effect on reported earnings. Equity is also increased by the tax benefit that International Paper will receive in its tax return for income
reported by the optionees in their individual tax returns.
At December 31, 2010 and 2009, 18.2 million options and 22.2 million options,
respectively, were outstanding with exercise prices ranging from $32.54 to $43.12 per share for 2010 and $29.31 to $66.69 per share for 2009.
Income Taxes
The Companys effective income tax rates, before equity earnings and discontinued operations, were 27%, 39%
and (14)% for 2010, 2009 and 2008, respectively. These effective tax rates include the tax effects of certain special items that can significantly affect the effective income tax rate in a given year, but may not recur in subsequent years.
Management believes that the effective tax rate computed after excluding these special items may provide a better estimate of the rate that might be expected in future years if no additional special items were to occur in those years. Excluding
these special items, the effective income tax rate for 2010 was 30% of pre-tax earnings compared with 30% in 2009 and 31.5% in 2008. The higher rate in 2008 reflects a higher proportion of earnings in higher tax rate jurisdictions. We estimate that
the 2011 effective income tax rate will be approximately 32-34% based on expected earnings and business conditions.
RECENT
ACCOUNTING DEVELOPMENTS
The following represent recently issued accounting pronouncements that will affect reporting and
disclosures in future periods.
Revenue Arrangements With Multiple Deliverables
In September 2009, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2009-13, Multiple-Deliverable
Revenue Arrangements, which amends the multiple-element arrangement guidance under ASC 605, Revenue Recognition. This guidance amends the criteria for separating consideration for products or services in multiple-deliverable
arrangements. This guidance establishes a selling price hierarchy for determining the selling price of a deliverable, eliminates the residual method of allocation, and requires that arrangement consideration be allocated at the inception of the
arrangement to all deliverables using the relative selling price method. In addition, this guidance significantly expands required disclosures related to a vendors multiple-deliverable revenue arrangements. This guidance is effective
prospectively for revenue arrangements entered into or materially modified in fiscal years beginning on or
43
after June 15, 2010 (calendar year 2011). The application of the requirements of this guidance will not have a material effect on the consolidated financial statements.
Variable Interest Entities
In June
2009, the FASB issued ASU 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities, which amends the consolidation guidance that applies to variable interest entities under ASC 810,
Consolidations. This guidance changes how a company determines when an entity that is insufficiently capitalized or is not controlled through voting (or similar rights) should be consolidated. This guidance was effective for financial
statements issued in fiscal years (and interim periods) beginning after November 15, 2009 (calendar year 2010). The Company adopted this guidance on January 1, 2010 and it did not have an effect on the accompanying consolidated financial
statements.
Subsequent Events
In May 2009, the FASB issued ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial
statements are issued or are available to be issued. This guidance is effective prospectively for interim and annual periods ending after June 15, 2009. The Company included the requirements of this guidance in the preparation of the
accompanying consolidated financial statements.
Asset Transfers, Variable Interest Entities and Qualifying Special Purpose Entities
In December 2008, the FASB issued new guidance under ASC 860, Transfers and Servicing which requires public
companies to provide additional disclosures about transfers of financial assets and an enterprises involvement with variable interest entities, including qualifying special purpose entities. The Company included the requirements of this
guidance in the preparation of the accompanying consolidated financial statements.
Derivative Instruments and Hedging Activities
In March 2008, the FASB issued new guidance under ASC 815, Derivatives and Hedging, that requires qualitative
disclosures about objectives and strategies for using derivatives, quantitative disclosures
about fair value amounts of, and gains and losses on, derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. This guidance was effective
for fiscal years (and interim periods) beginning after November 15, 2008 (calendar year 2009). The Company included the disclosures required by this guidance in the accompanying consolidated financial statements.
Business Combinations
In December
2007, the FASB issued new guidance under ASC 805, Business Combinations, which establishes principles and requirements for how an acquiring entity in a business combination recognizes and measures the assets acquired and liabilities
assumed in the transaction; establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed; and requires the acquirer to disclose to investors and other users all of the information needed to
evaluate and understand the nature and financial effect of the business combination. This guidance was effective prospectively for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period
beginning on or after December 15, 2008 (calendar year 2009). The Company included the provisions of this guidance in the preparation of the accompanying consolidated financial statements.
Employers Accounting for Defined Benefit Pension and Other Postretirement Plans
In December 2008, the FASB issued new guidance under ASC 715, Compensation Retirement Benefits, to require more detailed
disclosures about employers plan assets, including employers investment strategies, major categories of plan assets, concentrations of risk within plan assets, and valuation techniques used to measure the fair value of plan assets. The
disclosures required by this guidance must be provided in financial statements for fiscal years ending after December 15, 2009 (calendar year 2009). The Company included the provisions of this guidance in the preparation of the accompanying
consolidated financial statements.
Fair Value Measurements
In September 2006, the FASB issued guidance under ASC 820, Fair Value Measurements and Disclosures, which provides a single definition of fair value, together with a framework for measuring it, and
requires additional disclosure about the use of
44
fair value to measure assets and liabilities. It also emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and sets out a fair value hierarchy with the
highest level being quoted prices in active markets.
In February 2008, the FASB issued new guidance under ASC 820 which delayed the
effective date for fair value measurement and disclosure for all nonrecurring fair value measurements of nonfinancial assets and liabilities until fiscal years beginning after November 15, 2008 (calendar year 2009). The Company partially
adopted the provisions of this guidance with respect to its financial assets and liabilities that are measured at fair value effective January 1, 2008 (see Note 13). The Company included the remaining provisions of this guidance in the
preparation of the accompanying consolidated financial statements.
In October 2008, the FASB issued new guidance under ASC 820 which
clarifies the application of fair value measurement and disclosure in cases where the market for the asset is not active. This guidance was effective upon issuance. The Company considered the guidance in the preparation of the accompanying
consolidated financial statements.
In April 2009, the FASB issued additional guidance under ASC 820 which provides guidance on
estimating the fair value of an asset or liability (financial or nonfinancial) when the volume and level of activity for the asset or liability have significantly decreased, and on identifying transactions that are not orderly. The application of
the requirements of this guidance did not have a material effect on the accompanying consolidated financial statements.
In August 2009,
the FASB issued ASU 2009-05, Measuring Liabilities at Fair Value, which further amends ASC 820 by providing clarification for circumstances in which a quoted price in an active market for the identical liability is not available. The
Company included the disclosures required by this guidance in the accompanying consolidated financial statements.
In January 2010, the
FASB issued ASU 2010-06, Improving Disclosures about Fair Value Measurements. which further amends ASC 820 to add new disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances,
and settlements relating to Level 3 measurements. This new guidance also clarifies the level of disaggregation, inputs and valuation techniques used to measure fair value and amends
guidance under ASC 715 related to employers disclosures about postretirement benefit plan assets to require that disclosures be provided by classes of assets instead of by major categories
of assets. This guidance was effective for the first reporting period (including interim periods) beginning after December 15, 2009, except for the requirement to provide Level 3 activity of purchases, sales, issuances, and settlements on a
gross basis, which will be effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The Company included the disclosures required by this guidance in the accompanying consolidated
financial statements. The Company does not anticipate that the adoption of the remaining requirements of this guidance will have a material effect on its consolidated financial statements.
LEGAL PROCEEDINGS
International Paper has been named as a
potentially responsible party in environmental remediation actions under various federal and state laws, including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). Most of these proceedings involve the cleanup of
hazardous substances at large commercial landfills that received waste from many different sources. While joint and several liability is authorized under CERCLA and equivalent state laws, as a practical matter, liability for CERCLA cleanups is
typically allocated among the many potential responsible parties. Based upon previous experience with respect to the cleanup of hazardous substances using presently available information, International Paper believes that its liability is not likely
to be significant at 54 such sites, and that its liability at 45 other sites is likely to be significant but not material to International Papers consolidated financial statements. Remedial costs are recorded in the financial statements when
they become probable and reasonably estimable. International Paper believes that the probable liability associated with these 99 matters is approximately $76 million.
One of the sites referred to above is a closed wood treating facility located in Cass Lake, Minnesota. During 2009, in connection with an environmental site remediation action under CERCLA, we submitted to the EPA
a site remediation feasibility study. In November 2010, the EPA provided comments that limited the number of acceptable remedial action alternatives that the Company may be allowed to pursue and adopted more restrictive clean up requirements for the
site. As a result, the Company
45
increased its remediation reserve for this site from $6 million to $24 million in the fourth quarter of 2010. The final remediation plan for this site has not been approved by the EPA, and of the
five alternatives, the Companys reserve reflects the low end of the range of estimated remediation costs, since, at this time, no one of the alternatives proposed by the EPA is any more likely than the others to be approved. If the most
expensive of the clean-up alternatives were approved by the EPA, the remediation costs could be material, and significantly higher than amounts currently recorded.
In addition to the above proceedings, other remediation costs, typically associated with the cleanup of hazardous substances at the Companys current, closed or formerly-owned facilities, and recorded as
liabilities in the balance sheet, totaled approximately $48 million. Other than as described above, completion of required remedial actions is not expected to have a material adverse effect on our consolidated financial statements.
Other Legal Matters
The Company is
also involved in various other inquiries, administrative proceedings and litigation relating to environmental and safety matters, contracts, sales of property, intellectual property, personal injury, labor and employment, and other matters, some of
which allege substantial monetary damages. While any proceeding or litigation has the element of uncertainty, the Company believes that the outcome of any of the lawsuits or claims that are pending or threatened or all of them combined (other than
those that cannot be assessed due to their preliminary nature), will not have a material adverse effect on its consolidated financial statements.
EFFECT OF INFLATION
While inflationary increases in certain input costs, such as energy, wood fiber and chemical costs, have an
impact on the Companys operating results, changes in general inflation have had minimal impact on our operating results in each of the last three years. Sales prices and volumes are more strongly influenced by economic supply and demand
factors in specific markets and by exchange rate fluctuations than by inflationary factors.
FOREIGN CURRENCY EFFECTS
International Paper has operations in a number of countries. Its operations in those countries also export to, and compete with,
imports from other
regions. As such, currency movements can have a number of direct and indirect impacts on the Companys financial statements. Direct impacts include the translation of international
operations local currency financial statements into U.S. dollars. Indirect impacts include the change in competitiveness of imports into, and exports out of, the United States (and the impact on local currency pricing of products that are
traded internationally). In general, a lower U.S. dollar and stronger local currency is beneficial to International Paper. The currencies that have the most impact are the Euro, the Brazilian real, the Polish zloty and the Russian ruble.
MARKET RISK
We
use financial instruments, including fixed and variable rate debt, to finance operations, for capital spending programs and for general corporate purposes. Additionally, financial instruments, including various derivative contracts, are used to
hedge exposures to interest rate, commodity and foreign currency risks. We do not use financial instruments for trading purposes. Information related to International Papers debt obligations is included in Note 12 of the Notes to Consolidated
Financial Statements in Item 8. Financial Statements and Supplementary Data. A discussion of derivatives and hedging activities is included in Note 13 of the Notes to Consolidated Financial Statements in Item 8. Financial Statements and
Supplementary Data.
The fair value of our debt and financial instruments varies due to changes in market interest and foreign currency
rates and commodity prices since the inception of the related instruments. We assess this market risk utilizing a sensitivity analysis. The sensitivity analysis measures the potential loss in earnings, fair values and cash flows based on a
hypothetical 10% change (increase and decrease) in interest and currency rates and commodity prices.
Interest Rate Risk
Our exposure to market risk for changes in interest rates relates primarily to short- and long-term debt obligations and investments in marketable
securities. We invest in investment-grade securities of financial institutions and money market mutual funds with a minimum rating of AAA and limit exposure to any one issuer or fund. Our investments in marketable securities at December 31,
2010 are stated at cost, which approximates market due to their short-term nature. Our interest rate risk exposure related to these investments was not material.
46
We issue fixed and floating rate debt in a proportion consistent with International Papers
targeted capital structure, while at the same time taking advantage of market opportunities to reduce interest expense as appropriate. Derivative instruments, such as interest rate swaps, may be used to implement this capital structure. At
December 31, 2010 and 2009, the net fair value liability of financial instruments with exposure to interest rate risk was approximately $8.5 billion and $7.7 billion, respectively. The potential loss in fair value resulting from a 10% adverse
shift in quoted interest rates would have been approximately $373 million and $394 million at December 31, 2010 and 2009, respectively.
Commodity Price Risk
The objective
of our commodity exposure management is to minimize volatility in earnings due to large fluctuations in the price of commodities. Commodity swap and option contracts have been used to manage risks associated with market fluctuations in energy
prices. The net fair value liability of such outstanding energy hedge contracts at December 31, 2010 and 2009 was approximately $29 million and $26 million, respectively. The potential loss in fair value resulting from a 10% adverse change in
the underlying commodity prices would have been approximately $7 million and $20 million at December 31, 2010 and 2009, respectively.
Foreign Currency Risk
International Paper transacts business in many currencies and is also subject to currency exchange rate risk through investments and businesses owned and operated in foreign countries. Our objective in managing the
associated foreign currency risks is to minimize the effect of adverse exchange rate fluctuations on our after-tax cash flows. We address these risks on a limited basis by financing a portion of our investments in overseas operations with borrowings
denominated in the same currency as the operations functional currency, or by entering into cross-currency and interest rate swaps, or foreign exchange contracts. At December 31, 2010 and 2009, the net fair value asset of financial
instruments with exposure to foreign currency risk was approximately $13 million and $32 million, respectively. The potential loss in fair value for such financial instruments from a 10% adverse change in quoted foreign currency exchange rates would
have been approximately $37 million and $73 million at December 31, 2010 and 2009, respectively.
ITEM 7A.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
See the preceding discussion and Note 13 of the Notes to Consolidated
Financial Statements in Item 8. Financial Statements and Supplementary Data.
47
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
REPORT OF MANAGEMENT ON:
Financial Statements
The management of International Paper Company is responsible for the preparation of the consolidated financial statements in this annual report and
for establishing and maintaining adequate internal controls over financial reporting. The consolidated financial statements have been prepared using accounting principles generally accepted in the United States of America considered appropriate in
the circumstances to present fairly the Companys consolidated financial position, results of operations and cash flows on a consistent basis. Management has also prepared the other information in this annual report and is responsible for its
accuracy and consistency with the consolidated financial statements.
As can be expected in a complex and dynamic business environment,
some financial statement amounts are based on estimates and judgments. Even though estimates and judgments are used, measures have been taken to provide reasonable assurance of the integrity and reliability of the financial information contained in
this annual report. We have formed a Disclosure Committee to oversee this process.
The accompanying consolidated financial statements
have been audited by the independent registered public accounting firm, Deloitte & Touche LLP. During its audits, Deloitte & Touche LLP was given unrestricted access to all financial records and related data, including minutes of
all meetings of stockholders and the board of directors and all committees of the board. Management believes that all representations made to the independent auditors during their audits were valid and appropriate.
Internal Control Over Financial Reporting
The management of International Paper Company is also responsible for establishing and maintaining adequate internal controls over financial reporting. Internal controls over financial reporting is the process
designed by, or under the supervision, of our principal executive officer and principal financial officer, and effected by our Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes. All internal control
systems have inherent limitations, including the possibility of circumvention and overriding of controls, and therefore can provide only reasonable assurance of achieving the designed control
objectives. The Companys internal control system is supported by written policies and procedures, contains self-monitoring mechanisms, and is audited by the internal audit function. Appropriate actions are taken by management to correct
deficiencies as they are identified.
The Company has assessed the effectiveness of its internal control over financial reporting as of
December 31, 2010. In making this assessment, it used the criteria described in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this
assessment, management believes that, as of December 31, 2010, the Companys internal control over financial reporting was effective.
The company completed the acquisition of SCA Packaging Asia in July, 2010. Due to the timing of the acquisition we have excluded SCA Packaging Asia from our evaluation of the effectiveness of internal control over
financial reporting. For the period ended December 31, 2010, SCA Packaging Asia net sales and assets represented approximately 1% of net sales and 1% of total assets.
The Companys independent registered public accounting firm, Deloitte & Touche LLP, has issued its report on the effectiveness of the Companys internal control over financial reporting. The
report appears on page 51.
Internal Control Environment And Board Of Directors Oversight
Our internal control environment includes an enterprise-wide attitude of integrity and control consciousness that establishes a positive tone
at the top. This is exemplified by our ethics program that includes long-standing principles and policies on ethical business conduct that require employees to maintain the highest ethical and legal standards in the conduct of International
Paper business, which have been distributed to all employees; a toll-free telephone helpline whereby any employee may anonymously report suspected violations of law or International Papers policy; and an office of ethics and business practice.
The internal control system further includes careful selection and training of supervisory and management personnel, appropriate delegation of authority and division of responsibility, dissemination of accounting and business policies throughout
International Paper, and an extensive program of internal audits with management follow-up.
48
The Board of Directors, assisted by the Audit and Finance Committee (Committee), monitors the
integrity of the Companys financial statements and financial reporting procedures, the performance of the Companys internal audit function and independent auditors, and other matters set forth in its charter. The Committee, which
currently consists of five independent directors, meets regularly with representatives of management, and with the independent auditors and the Internal Auditor, with and without management representatives in attendance, to review their activities.
The Committees Charter takes into account the New York Stock Exchange rules relating to Audit Committees and the SEC rules and regulations promulgated as a result of the Sarbanes-Oxley Act of 2002. The Committee has reviewed and discussed the
consolidated financial statements for the year ended December 31, 2010, including critical accounting policies and significant management judgments, with management and the independent auditors. The Committees report recommending the
inclusion of such financial statements in this Annual Report on Form 10-K will be set forth in our Proxy Statement.
JOHN V. FARACI
CHAIRMAN AND CHIEF EXECUTIVE OFFICER
TIM S. NICHOLLS
SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
49
REPORT OF DELOITTE & TOUCHE LLP, INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM, ON CONSOLIDATED FINANCIAL
STATEMENTS
To the Shareholders of International Paper Company:
We have audited the accompanying consolidated balance sheets of International Paper Company and subsidiaries (the Company) as of
December 31, 2010 and 2009, and the related consolidated statements of operations, changes in equity, and cash flows for each of the three years in the period ended December 31, 2010. These financial statements are the responsibility of
the Companys management. Our responsibility is to express an opinion on these financial statements based on our audits.
We
conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the
financial position of International Paper Company and subsidiaries as of December 31, 2010 and 2009, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2010, in conformity
with accounting principles generally accepted in the United States of America.
We have also audited, in accordance with the standards
of the Public Company Accounting Oversight Board (United States), the Companys internal control over financial reporting as of December 31, 2010, based on the criteria established in Internal Control Integrated Framework issued by
the Committee of Sponsoring Organizations of the Treadway Commission, and our report dated February 25, 2011 expressed an unqualified opinion on the Companys internal control over financial reporting.
Memphis, Tennessee
February 25,
2011
50
REPORT OF DELOITTE & TOUCHE LLP, INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM, ON INTERNAL CONTROL OVER
FINANCIAL REPORTING
To the Shareholders of International Paper Company:
We have audited the internal control over financial reporting of International Paper Company and subsidiaries (the Company) as of
December 31, 2010, based on criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. As described in the Report of Management on Internal Controls Over
Financial Reporting, management excluded from its assessment the internal control over financial reporting of the SCA Packaging Asia business which was acquired on June 30, 2010 whose financial statements constitute approximately 1% of total net
sales and 1% of total assets of the consolidated financial statement amounts as of and for the year ended December 31, 2010. Accordingly, our audit did not include the internal control over financial reporting of the SCA Packaging Asia business. The
Companys management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Report of Management
on Internal Controls Over Financial Reporting. Our responsibility is to express an opinion on the Companys internal control over financial reporting based on our audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness
exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a
reasonable basis for our opinion.
A companys internal control over financial reporting is a process designed by, or under the
supervision of, the companys principal executive and principal financial officers, or persons performing similar functions, and effected by the companys board of
directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A companys internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements.
Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may
not be prevented or detected on a timely basis. Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of
changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
In our opinion, the Company
maintained, in all material respects, effective internal control over financial reporting as of December 31, 2010, based on the criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission.
We have also audited, in accordance with the standards of the Public Company Accounting
Oversight Board (United States), the consolidated financial statements as of and for the year ended December 31, 2010 of the Company, and our report dated February 25, 2011, expressed an unqualified opinion on those financial statements.
Memphis, Tennessee
February 25,
2011
51
CONSOLIDATED
STATEMENT OF OPERATIONS
In millions, except per share amounts, for the years ended December 31
2010
2009
2008
NET SALES
$
25,179
$
23,366
$
24,829
COSTS AND EXPENSES
Cost of products sold (Notes 1 and 4)
18,482
15,220
18,742
Selling and administrative expenses
1,930
2,031
1,947
Depreciation, amortization and cost of timber harvested
1,456
1,472
1,347
Distribution expenses
1,318
1,175
1,286
Taxes other than payroll and income taxes
192
188
182
Restructuring and other charges
394
1,353
370
Gain on sale of mineral rights
0
0
(261
)
Gain on sale of forestlands
0
0
(6
)
Impairments of goodwill
0
0
1,777
Net (gains) losses on sales and impairments of businesses
(23
)
59
106
Interest expense, net
608
669
492
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY EARNINGS
822
1,199
(1,153
)
Income tax provision (benefit)
221
469
162
Equity earnings (losses), net of taxes
64
(49
)
49
EARNINGS (LOSS) FROM CONTINUING OPERATIONS
665
681
(1,266
)
Discontinued operations, net of taxes
0
0
(13
)
NET EARNINGS (LOSS)
$
665
$
681
$
(1,279
)
Less: Net earnings (loss) attributable to noncontrolling interests
21
18
3
NET EARNINGS (LOSS) ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY
$
644
$
663
$
(1,282
)
BASIC EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Earnings (loss) from continuing operations
$
1.50
$
1.56
$
(3.02
)
Discontinued operations, net of taxes
0
0
(0.03
)
Net earnings (loss)
$
1.50
$
1.56
$
(3.05
)
DILUTED EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Earnings (loss) from continuing operations
$
1.48
$
1.55
$
(3.02
)
Discontinued operations, net of taxes
0
0
(0.03
)
Net earnings (loss)
$
1.48
$
1.55
$
(3.05
)
AMOUNTS ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Earnings (loss) from continuing operations
$
644
$
663
$
(1,269
)
Discontinued operations, net of taxes
0
0
(13
)
Net earnings (loss)
$
644
$
663
$
(1,282
)
The accompanying notes are an integral part of these financial statements.
52
CONSOLIDATED
BALANCE SHEET
In millions, except per share amounts, at December 31
2010
2009
ASSETS
Current Assets
Cash and temporary investments
$
2,073
$
1,892
Accounts and notes receivable, less allowances of $129 in 2010 and $136 in 2009
3,039
2,695
Inventories
2,347
2,179
Deferred income tax assets
339
368
Other current assets
230
417
Total Current Assets
8,028
7,551
Plants, Properties and Equipment, net
12,002
12,688
Forestlands
747
757
Investments
1,092
1,077
Goodwill
2,308
2,290
Deferred Charges and Other Assets
1,191
1,185
Total Assets
$
25,368
$
25,548
LIABILITIES AND EQUITY
Current Liabilities
Notes payable and current maturities of long-term debt
$
313
$
304
Accounts payable
2,556
2,058
Accrued payroll and benefits
471
473
Other accrued liabilities
1,163
1,177
Total Current Liabilities
4,503
4,012
Long-Term Debt
8,358
8,729
Deferred Income Taxes
2,793
2,425
Pension Benefit Obligation
1,482
2,765
Postretirement and Postemployment Benefit Obligation
499
538
Other Liabilities
649
824
Commitments and Contingent Liabilities (Note 10)
Equity
Common stock $1 par value, 2010 438.9 shares and 2009 437.0 shares
439
437
Paid-in capital
5,829
5,803
Retained earnings
2,416
1,949
Accumulated other comprehensive loss
(1,822
)
(2,077
)
6,862
6,112
Less: Common stock held in treasury, at cost, 2010 1.2 shares and 2009 3.9
shares
28
89
Total Shareholders Equity
6,834
6,023
Noncontrolling interests
250
232
Total Equity
7,084
6,255
Total Liabilities and Equity
$
25,368
$
25,548
The accompanying notes are an integral part of these financial statements.
53
CONSOLIDATED
STATEMENT OF CASH FLOWS
In millions for the years ended December 31
2010
2009
2008
OPERATING ACTIVITIES
Earnings (loss) from continuing operations
$
665
$
681
$
(1,266
)
Depreciation, amortization, and cost of timber harvested
1,456
1,472
1,347
Deferred income tax provision (benefit), net
422
160
(81
)
Restructuring and other charges
394
1,353
370
Payments related to a restructuring and legal reserve
(2
)
(38
)
(87
)
Pension plan contribution
(1,150
)
0
0
Cost of forestlands sold
143
0
0
Periodic pension expense, net
231
213
123
Net (gains) losses on sales and impairments of businesses
(23
)
59
106
Equity (earnings) losses, net
(64
)
49
(49
)
Gain on sale of forestlands
0
0
(3
)
Impairments of goodwill
0
0
1,777
Other, net
17
227
115
Changes in current assets and liabilities
Accounts and notes receivable
(327
)
604
451
Inventories
(186
)
316
48
Accounts payable and accrued liabilities
(52
)
(321
)
(317
)
Interest payable
3
(8
)
(31
)
Other
104
(112
)
166
Cash Provided by (Used for) Operations
1,631
4,655
2,669
INVESTMENT ACTIVITIES
Invested in capital projects
(775
)
(534
)
(1,002
)
Acquisitions, net of cash acquired
(152
)
(17
)
(6,086
)
Proceeds from divestitures
0
0
14
Equity investment in Ilim
0
0
(21
)
Other
93
(42
)
(102
)
Cash Provided by (Used for) Investment Activities
(834
)
(593
)
(7,197
)
FINANCING ACTIVITIES
Repurchase of common stock and payments of restricted stock tax withholding
(26
)
(10
)
(47
)
Issuance of common stock
0
0
1
Issuance of debt
193
3,229
6,024
Reduction of debt
(576
)
(6,318
)
(696
)
Change in book overdrafts
38
20
(36
)
Dividends paid
(175
)
(140
)
(428
)
Other
(42
)
(157
)
41
Cash Provided by (Used for) Financing Activities
(588
)
(3,376
)
4,859
Effect of Exchange Rate Changes on Cash
(28
)
62
(92
)
Change in Cash and Temporary Investments
181
748
239
Cash and Temporary Investments
Beginning of the period
1,892
1,144
905
End of the period
$
2,073
$
1,892
$
1,144
The accompanying notes are an integral part of these financial statements.
54
CONSOLIDATED
STATEMENT OF CHANGES IN EQUITY
00,000
00,000
00,000
00,000
00,000
00,000
00,000
00,000
In millions
Common
Stock
Issued
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income
(Loss)
Treasury
Stock
Total
International
Paper
Shareholders
Equity
Noncontrolling
Interest
Total
Equity
BALANCE, JANUARY 1, 2008
$
494
$
6,755
$
4,375
$
(471
)
$
2,481
$
8,672
$
228
$
8,900
Issuance of stock for various plans, net
0
(34
)
0
0
(143
)
109
0
109
Repurchase of stock
0
0
0
0
47
(47
)
0
(47
)
Retirement of treasury stock
(60
)
(876
)
(1,231
)
0
(2,167
)
0
0
0
Cash dividends Common Stock
0
0
(432
)
0
0
(432
)
0
(432
)
Dividends paid to noncontrolling interests by subsidiary
0
0
0
0
0
0
(10
)
(10
)
Noncontrolling interests of acquired entities
0
0
0
0
0
0
9
9
Comprehensive income (loss):
Net earnings (loss)
0
0
(1,282
)
0
0
(1,282
)
3
(1,279
)
Amortization of pension and postretirement prior service costs and net loss:
U.S. plans (less tax of $58)
0
0
0
82
0
82
0
82
Pension and postretirement liability adjustments:
U.S. plans (less tax of $1,128)
0
0
0
(1,857
)
0
(1,857
)
0
(1,857
)
Non-U.S. plans (less tax of $1)
0
0
0
(26
)
0
(26
)
0
(26
)
Change in cumulative foreign currency translation adjustment
0
0
0
(889
)
0
(889
)
2
(887
)
Net gains (losses) on cash flow hedging derivatives:
Net gains (losses) arising during the period (less tax of $61)
0
0
0
(106
)
0
(106
)
0
(106
)
Less: Reclassification adjustment for (gains) losses included in net earnings (less tax of $16)
0
0
0
(55
)
0
(55
)
0
(55
)
Total comprehensive income (loss)
(4,128
)
BALANCE, DECEMBER 31, 2008
434
5,845
1,430
(3,322
)
218
4,169
232
4,401
Issuance of stock for various plans, net
3
(42
)
0
0
(139
)
100
0
100
Repurchase of stock
0
0
0
0
10
(10
)
0
(10
)
Cash dividends Common Stock
0
0
(144
)
0
0
(144
)
0
(144
)
Dividends paid to noncontrolling interests by subsidiary
0
0
0
0
0
0
(17
)
(17
)
Noncontrolling interests of acquired entities
0
0
0
0
0
0
(1
)
(1
)
Comprehensive income (loss):
Net earnings (loss)
0
0
663
0
0
663
18
681
Amortization of pension and postretirement prior service costs and net loss:
U.S. plans (less tax of $75)
0
0
0
109
0
109
0
109
Pension and postretirement liability adjustments:
U.S. plans (less tax of $259)
0
0
0
351
0
351
0
351
Non-U.S. plans (less tax of $3)
0
0
0
19
0
19
0
19
Change in cumulative foreign currency translation adjustment
0
0
0
672
0
672
0
672
Net gains (losses) on cash flow hedging derivatives:
Net gains (losses) arising during the period (less tax of $17)
0
0
0
40
0
40
0
40
Plus: Reclassification adjustment for (gains) losses included in net earnings (less tax of $41)
0
0
0
54
0
54
0
54
Total comprehensive income (loss)
1,926
The accompanying
notes are an integral part of these financial statements.
55
00,000
00,000
00,000
00,000
00,000
00,000
00,000
00,000
In millions
Common
Stock
Issued
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income
(Loss)
Treasury
Stock
Total
International
Paper
Shareholders
Equity
Noncontrolling
Interest
Total
Equity
BALANCE, DECEMBER 31, 2009
437
5,803
1,949
(2,077
)
89
6,023
232
6,255
Issuance of stock for various plans, net
2
38
0
0
(87
)
127
0
127
Repurchase of stock
0
0
0
0
26
(26
)
0
(26
)
Cash dividends Common Stock
0
0
(177
)
0
0
(177
)
0
(177
)
Dividends paid to noncontrolling interests by subsidiary
0
0
0
0
0
0
(6
)
(6
)
Noncontrolling interests of acquired entities
0
0
0
0
0
0
9
9
Acquisition of noncontrolling interests
0
(12
)
0
0
0
(12
)
(8
)
(20
)
Comprehensive income (loss):
Net earnings (loss)
0
0
644
0
0
644
21
665
Amortization of pension and postretirement prior service costs and net loss:
U.S. plans (less tax of $73)
0
0
0
114
0
114
0
114
Pension and postretirement liability adjustments:
U.S. plans (less tax of $54)
0
0
0
85
0
85
0
85
Non-U.S. plans (less tax of $3)
0
0
0
(4
)
0
(4
)
0
(4
)
Change in cumulative foreign currency translation adjustment
0
0
0
68
0
68
2
70
Net gains (losses) on cash flow hedging derivatives:
Net gains (losses) arising during the period (less tax of $9)
0
0
0
23
0
23
0
23
Less: Reclassification adjustment for (gains) losses included in net earnings (less tax of $4)
0
0
0
(31
)
0
(31
)
0
(31
)
Total comprehensive income (loss)
922
BALANCE, DECEMBER 31, 2010
$
439
$
5,829
$
2,416
$
(1,822
)
$
28
$
6,834
$
250
$
7,084
The accompanying notes are an integral part of these financial statements.
56
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1 SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
NATURE OF BUSINESS
International Paper (the Company) is a global paper and packaging company
that is complemented by an extensive North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Substantially all of our businesses have
experienced, and are likely to continue to experience, cycles relating to available industry capacity and general economic conditions.
FINANCIAL
STATEMENTS
These consolidated financial statements have been prepared in conformity with accounting principles generally accepted
in the United States that require the use of managements estimates. Actual results could differ from managements estimates.
CONSOLIDATION
The consolidated financial
statements include the accounts of International Paper and its wholly-owned, controlled majority-owned and financially controlled subsidiaries. All significant intercompany balances and transactions are eliminated.
International Paper accounts for its investment in Ilim Holding S.A. (Ilim), a separate reportable industry segment, using the equity method of
accounting. Due to the complex organizational structure of Ilims operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the
Company reports its share of Ilims operating results on a one-quarter lag basis.
Investments in affiliated companies where the
Company has significant influence over their operations are accounted for by the equity method. International Papers share of affiliates earnings totaled earnings of $64 million, a loss of $49 million and earnings of $49 million in 2010,
2009 and 2008, respectively.
REVENUE RECOGNITION
Revenue is recognized when the customer takes title and assumes the risks and rewards of ownership. Revenue is recorded at the time of shipment for
terms designated f.o.b. (free on board) shipping point. For sales transactions designated f.o.b. destination, revenue is recorded when the product is delivered to the customers delivery
site, when title and risk of loss are transferred. Timber and forestland sales revenue is generally recognized when title and risk of loss pass to the buyer.
ALTERNATIVE FUEL MIXTURE CREDITS COST OF PRODUCTS SOLD
The U.S. Internal Revenue Code
provided a tax credit for companies that use alternative fuel mixtures to produce energy to operate their businesses. As these credits represent a reduction of energy costs at the Companys U.S. manufacturing facilities, the credits are
included as a reduction of Cost of products sold in 2009 in the accompanying consolidated statement of operations. See Alternative Fuel Mixture Credits in Note 4 for a further discussion of these credits.
SHIPPING AND HANDLING COSTS
Shipping and
handling costs, such as freight to our customers destinations, are included in distribution expenses in the consolidated statement of operations. When shipping and handling costs are included in the sales price charged for our products, they
are recognized in net sales.
ANNUAL MAINTENANCE COSTS
Costs for repair and maintenance activities are expensed in the month that the related activity is performed under the direct expense method of accounting.
TEMPORARY INVESTMENTS
Temporary investments with an original maturity of three months or less
are treated as cash equivalents and are stated at cost, which approximates market.
INVENTORIES
Inventories are valued at the lower of cost or market and include all costs directly associated with manufacturing products: materials, labor and
manufacturing overhead. In the United States, costs of raw materials and finished pulp and paper products are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost
methods.
57
PLANTS, PROPERTIES AND EQUIPMENT
Plants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are capitalized, whereas normal repairs and maintenance are expensed as incurred. The
units-of-production method of depreciation is used for major pulp and paper mills, and the straight-line method is used for other plants and equipment. Annual straight-line depreciation rates are, for buildings 2 1/2% to 8 1/2%, and for
machinery and equipment 5% to 33%.
FORESTLANDS
At December 31, 2010, International Paper and its subsidiaries owned or managed approximately 250,000 acres of forestlands in Brazil, and through licenses and forest management agreements, had harvesting
rights on government-owned forestlands in Russia. Costs attributable to timber are charged against income as trees are cut. The rate charged is determined annually based on the relationship of incurred costs to estimated current merchantable volume.
GOODWILL
Goodwill relating to
a single business reporting unit is included as an asset of the applicable segment, while goodwill arising from major acquisitions that involve multiple business segments is classified as a corporate asset for segment reporting purposes. For
goodwill impairment testing, this goodwill is allocated to reporting units. Annual testing for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim testing performed when
management believes that it is more likely than not events or circumstances have occurred that would result in the impairment of a reporting units goodwill.
In performing this testing, the Company estimates the fair value of its reporting units using the projected future cash flows to be generated by each unit over the estimated remaining useful operating lives of the
units assets, discounted using the estimated cost of capital for each reporting unit. These estimated fair values are then analyzed for reasonableness by comparing them to historic market transactions for businesses in the industry, and by
comparing the sum of the reporting unit fair values and other corporate assets and liabilities divided by diluted common shares outstanding to the Companys traded stock price on the testing date. For reporting units whose recorded value of net
assets plus goodwill is in excess of their estimated fair
values, the fair values of the individual assets and liabilities of the respective reporting units are then determined to calculate the amount of any goodwill impairment charge required (see Note
8).
IMPAIRMENT OF LONG-LIVED ASSETS
Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable, measured by comparing their net
book value to the undiscounted projected future cash flows generated by their use. Impaired assets are recorded at their estimated fair value (see Note 6).
INCOME TAXES
International Paper uses the asset and liability method of accounting for income
taxes whereby deferred income taxes are recorded for the future tax consequences attributable to differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax
rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets and liabilities are remeasured to reflect new tax rates in the periods rate changes are enacted.
International Paper records its worldwide tax provision based on the respective tax rules and regulations for the jurisdictions in
which it operates. Where the Company believes that a tax position is supportable for income tax purposes, the item is included in its income tax returns. Where treatment of a position is uncertain, liabilities are recorded based upon the
Companys evaluation of the more likely than not outcome considering the technical merits of the position based on specific tax regulations and the facts of each matter. Changes to recorded liabilities are made only when an
identifiable event occurs that changes the likely outcome, such as settlement with the relevant tax authority, the expiration of statutes of limitation for the subject tax year, a change in tax laws, or a recent court case that addresses the matter.
While the judgments and estimates made by the Company are based on managements evaluation of the technical merits of a matter,
assisted as necessary by consultation with outside consultants, historical experience and other assumptions that management believes are appropriate and reasonable under current circumstances, actual resolution
58
of these matters may differ from recorded estimated amounts, resulting in charges or credits that could materially affect future financial statements.
STOCK-BASED COMPENSATION
Compensation
costs resulting from all stock-based compensation transactions are measured and recorded in the consolidated financial statements based on the grant-date fair value of the equity or liability instruments issued. In addition, liability awards are
remeasured each reporting period. Compensation cost is recognized over the period that an employee provides service in exchange for the award.
ENVIRONMENTAL REMEDIATION COSTS
Costs
associated with environmental remediation obligations are accrued when such costs are probable and reasonably estimable. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for
environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable.
ASSET RETIREMENT OBLIGATIONS
A liability and an asset are recorded equal to the present value
of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. The liability is accreted over time and the asset is depreciated over the life
of the related equipment or facility. International Paper's asset retirement obligations principally relate to closure costs for landfills. Revisions to the liability could occur due to changes in the estimated costs or timing of closures, or
possible new federal or state regulations affecting these closures.
In connection with potential future closures or redesigns of
certain production facilities, it is possible that the Company may be required to take steps to remove certain materials from these facilities. Applicable regulations and standards provide that the removal of certain materials would only be required
if the facility were to be demolished or underwent major renovations. At this time, any such obligations have an indeterminate settlement date, and the Company believes that adequate information does not exist to apply an expected-present-value
technique to estimate any such potential obligations. Accordingly, the Company does not record a liability
for such remediation until a decision is made that allows reasonable estimation of the timing of such remediation.
TRANSLATION OF FINANCIAL STATEMENTS
Balance sheets of international operations are translated
into U.S. dollars at year-end exchange rates, while statements of operations are translated at average rates. Adjustments resulting from financial statement translations are included as cumulative translation adjustments in Accumulated other
comprehensive loss.
NOTE 2 RECENT ACCOUNTING DEVELOPMENTS
REVENUE ARRANGEMENTS WITH MULTIPLE DELIVERABLES
In September 2009, the Financial Accounting
Standards Board (FASB) issued Accounting Standards Update (ASU) 2009-13, Multiple-Deliverable Revenue Arrangements, which amends the multiple-element arrangement guidance under ASC 605, Revenue Recognition. This guidance
amends the criteria for separating consideration for products or services in multiple-deliverable arrangements. This guidance establishes a selling price hierarchy for determining the selling price of a deliverable, eliminates the residual method of
allocation, and requires that arrangement consideration be allocated at the inception of the arrangement to all deliverables using the relative selling price method. In addition, this guidance significantly expands required disclosures related to a
vendors multiple-deliverable revenue arrangements. This guidance is effective prospectively for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010 (calendar year 2011). The
application of the requirements of this guidance will not have a material effect on the consolidated financial statements.
VARIABLE INTEREST
ENTITIES
In June 2009, the FASB issued ASU 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable
Interest Entities, which amends the consolidation guidance that applies to variable interest entities under ASC 810, Consolidations. This guidance changes how a company determines when an entity that is insufficiently capitalized
or is not controlled through voting (or similar rights) should be consolidated. This guidance was effective for financial statements
59
issued in fiscal years (and interim periods) beginning after November 15, 2009 (calendar year 2010). The Company adopted this guidance on January 1, 2010 and it did not have an effect
on the accompanying consolidated financial statements.
SUBSEQUENT EVENTS
In May 2009, the FASB issued ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events
that occur after the balance sheet date but before financial statements are issued or are available to be issued. This guidance is effective prospectively for interim and annual periods ending after June 15, 2009. The Company included the
requirements of this guidance in the preparation of the accompanying consolidated financial statements.
ASSET TRANSFERS, VARIABLE INTEREST ENITITES
AND QUALIFYING SPECIAL PURPOSE ENTITIES
In December 2008, the FASB issued new guidance under ASC 860, Transfers and
Servicing, which requires public companies to provide additional disclosures about transfers of financial assets and an enterprises involvement with variable interest entities, including qualifying special purpose entities. The Company
included the requirements of this guidance in the preparation of the accompanying consolidated financial statements.
DERIVATIVE INSTRUMENTS AND
HEDGING ACTIVITIES
In March 2008, the FASB issued new guidance under ASC 815, Derivatives and Hedging, that requires
qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of, and gains and losses on, derivative instruments, and disclosures about credit-risk-related contingent features in
derivative agreements. This guidance was effective for fiscal years (and interim periods) beginning after November 15, 2008 (calendar year 2009). The Company included the disclosures required by this guidance in the accompanying consolidated
financial statements.
BUSINESS COMBINATIONS
In December 2007, the FASB issued new guidance under ASC 805, Business Combinations, which establishes principles and requirements for how an acquiring entity in a business combination recognizes and
measures the assets acquired and
liabilities assumed in the transaction; establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed; and requires the acquirer to
disclose to investors and other users all of the information needed to evaluate and understand the nature and financial effect of the business combination. This guidance was effective prospectively for business combinations for which the acquisition
date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008 (calendar year 2009). The Company included the provisions of this guidance in the preparation of the accompanying consolidated
financial statements.
EMPLOYERS ACCOUNTING FOR DEFINED BENEFIT PENSION AND OTHER POSTRETIREMENT PLANS
In December 2008, the FASB issued new guidance under ASC 715, Compensation Retirement Benefits, to require more detailed
disclosures about employers plan assets, including employers investment strategies, major categories of plan assets, concentrations of risk within plan assets, and valuation techniques used to measure the fair value of plan assets. The
disclosures required by this guidance must be provided in financial statements for fiscal years ending after December 15, 2009 (calendar year 2009). The Company included the provisions of this guidance in the preparation of the accompanying
consolidated financial statements.
FAIR VALUE MEASUREMENTS
In September 2006, the FASB issued guidance under ASC 820, Fair Value Measurements and Disclosures, which provides a single definition of fair value, together with a framework for measuring it, and
requires additional disclosure about the use of fair value to measure assets and liabilities. It also emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and sets out a fair value hierarchy with the highest
level being quoted prices in active markets.
In February 2008, the FASB issued new guidance under ASC 820 which delayed the effective
date for fair value measurement and disclosure for all nonrecurring fair value measurements of nonfinancial assets and liabilities until fiscal years beginning after November 15, 2008 (calendar year 2009). The Company partially adopted the
provisions of this guidance with respect to its financial assets and liabilities that are measured at fair value effective January 1, 2008 (see Note 13). The Company included the remaining provisions of this guidance in the preparation of the
accompanying consolidated financial statements.
60
In October 2008, the FASB issued new guidance under ASC 820 which clarifies the application of fair
value measurement and disclosure in cases where the market for the asset is not active. This guidance was effective upon issuance. The Company considered the guidance in the preparation of the accompanying consolidated financial statements.
In April 2009, the FASB issued additional guidance under ASC 820 which provides guidance on estimating the fair value of an asset or
liability (financial or nonfinancial) when the volume and level of activity for the asset or liability have significantly decreased, and on identifying transactions that are not orderly. The application of the requirements of this guidance did not
have a material effect on the accompanying consolidated financial statements.
In August 2009, the FASB issued ASU 2009-05,
Measuring Liabilities at Fair Value, which further amends ASC 820 by providing clarification for circumstances in which a quoted price in an active market for the identical liability is not available. The Company included the disclosures
required by this guidance in the accompanying consolidated financial statements.
In January 2010, the FASB issued ASU 2010-06,
Improving Disclosures about Fair Value Measurements, which further amends ASC 820 to add new disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating
to Level 3 measurements. This new guidance also clarifies the level of disaggregation, inputs and valuation techniques used to measure fair value and amends guidance under ASC 715 related to employers disclosures about postretirement benefit
plan assets to require that disclosures be provided by classes of assets instead of by major categories of assets. This guidance was effective for the first reporting period (including interim periods) beginning after December 15, 2009, except
for the requirement to provide Level 3 activity of purchases, sales, issuances, and settlements on a gross basis, which will be effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The
Company included the disclosures required by this guidance in the accompanying consolidated financial statements. The Company does not anticipate that the adoption of the remaining requirements of this guidance will have a material effect on its
consolidated financial statements.
NOTE 3 EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Basic earnings per common share from continuing operations are computed by dividing earnings from continuing operations by the weighted average
number of common shares outstanding. Diluted earnings per common share from continuing operations are computed assuming that all potentially dilutive securities, including in-the-money stock options, were converted into common shares at
the beginning of each year. In addition, the computation of diluted earnings per share reflects the inclusion of contingently convertible securities in periods when dilutive.
A reconciliation of the amounts included in the computation of basic earnings per common share from continuing operations, and diluted earnings per common share from continuing operations is as follows:
In millions, except per share amounts
2010
2009
2008
Earnings (loss) from continuing operations
$
644
$
663
$
(1,269
)
Effect of dilutive securities (a)
0
0
0
Earnings (loss) from continuing operations assuming
dilution
$
644
$
663
$
(1,269
)
Average common shares outstanding
429.8
425.3
421.0
Effect of dilutive securities Restricted performance share plan (a)
4.4
2.7
0
Stock options (b)
0
0
0
Average common shares outstanding assuming dilution
434.2
428.0
421.0
Basic earnings (loss) per common share from continuing operations
$
1.50
$
1.56
$
(3.02
)
Diluted earnings (loss) per common share from continuing operations
$
1.48
$
1.55
$
(3.02
)
(a)
Securities are not included in the table in periods when antidilutive.
(b)
Options to purchase 18.2 million, 22.2 million and 25.1 million shares for the years ended December 31, 2010, 2009 and 2008,
respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Companys common stock for each respective reporting date.
NOTE 4 RESTRUCTURING CHARGES AND OTHER ITEMS
This footnote discusses restructuring charges and other items recorded for each of the three years included in the period ended December 31, 2010. It
61
includes a summary of activity for each year, a rollforward associated with severance and other cash costs arising in each year, and tables presenting details of the 2010, 2009 and 2008
organizational restructuring programs.
RESTRUCTURING AND OTHER CHARGES
2010: During 2010, total restructuring and other charges of $394 million before taxes ($242 million after taxes) were recorded. These charges included:
In millions
Before-Tax
Charges
After-Tax
Charges
Franklin, Virginia mill closure costs
$
315
$
192
Early debt extinguishment costs (see Notes 12 and 13)
35
21
Write-off of Ohio Commercial Activity tax receivable
11
7
Shorewood Packaging reorganization
8
5
Bellevue, Washington container facility closure costs
7
4
S&A reduction initiative
6
4
Spartanburg, South Carolina container facility closure costs
5
3
Etienne mill severance and other costs
3
3
Other
4
3
Total
$
394
$
242
The following table presents the $394 million restructuring and other charges by business:
In millions
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Total
Industrial Packaging
$
5
(a,b )
$
1
(b)
$
0
$
13
(c)
$
19
Printing Papers
204
(d)
111
(d)
0
0
315
Consumer Packaging
3
(e)
1
(e)
0
4
(e )
8
Corporate
3
31
0
18
52
Total
$
215
$
144
$
0
$
35
$
394
(a)
Includes $2 million of other charges related to the shutdown of the Pineville, Louisiana mill and $1 million of other charges related to the shutdown of a
paper machine at the Valliant, Oklahoma mill.
(b)
Includes $3 million of severance charges related to the shutdown of the Etienne mill in France.
(c)
Includes a gain of $2 million related to the shutdown of the Albany, Oregon mill; a $3 million charge to write down the value of land, $2 million of
accelerated depreciation and $2 million of severance charges related to the closure of the Bellevue, Washington container facility; $1 million of accelerated depreciation, $2 million of severance charges and $2 million of other charges related to
the closure of the Spartanburg, South Carolina container facility; and $2 million of severance charges and $1 million of other costs related to the closure of certain of the Companys Asian box plants.
(d)
Includes $236 million of accelerated depreciation, $36 million of environmental closure costs, $30 million of severance charges and $13 million of other
charges related to the shutdown of the Franklin, Virginia mill.
(e)
Includes $3 million of accelerated depreciation, $1 million of severance charges and $4 million of other charges related to the reorganization of the
Companys Shorewood operations.
Included in the $394 million of organizational restructuring and other charges is $46 million of
severance charges.
The following table presents a roll forward of the severance and other costs for approximately 1,650 employees
included in the 2010 restructuring charges:
In millions
Severance
and Other
Opening balance (recorded first quarter 2010)
$
20
Additions (second quarter 2010)
15
Additions (third quarter 2010)
0
Additions (fourth quarter 2010)
11
2010 activity
Cash charges
(32
)
Balance, December 31, 2010
$
14
As of December 31, 2010, 1,388 employees had left the Company under these programs.
2009: During 2009, total restructuring and other charges of $1.4 billion before taxes ($853 million after taxes) were recorded. These
charges included:
In millions
Before-Tax
Charges
After-Tax
Charges
Albany, Oregon containerboard mill closure costs
$
469
$
286
Franklin, Virginia paper mill and associated operations closure costs
290
177
Early debt extinguishment costs (see Notes 12 and 13)
185
113
2008 overhead reduction program severance and benefits
148
92
Pineville, Louisiana containerboard mill closure costs
102
62
Valliant, Oklahoma containerboard mill paper machine shutdown costs
82
50
Etienne mill severance and other costs
31
31
Inverurie mill closure costs
23
28
Other
23
14
Total
$
1,353
$
853
The following table presents the $1.4 billion restructuring and other charges by business:
In millions
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Total
Industrial Packaing
$
0
$
15
(a)
$
7
(a)
$
662
(a,b )
$
684
Printing Papers
29
( c,d)
4
(d)
1
(d)
223
(e)
257
Consumer Packaging
2
(f)
1
(f)
2
(f)
69
( f,g)
74
Distribution
0
0
0
5
5
Corporate
52
59
141
81
333
Total
$
83
$
79
$
151
$
1,040
$
1,353
(a)
Includes $19 million of severance charges and $12 million of other charges related to the shutdown of the Etienne mill in France.
(b)
Includes $82 million of accelerated depreciation and other noncash charges, $9 million of severance charges, $10 million of environmental charges and $1
million of other charges
62
related to the shutdown of the Pineville, Louisiana mill; $438 million of accelerated depreciation and other noncash charges, $21 million of severance charges and benefit costs, $9 million of
environmental charges and $1 million of other charges related to the shutdown of the Albany, Oregon mill; and $81 million of accelerated depreciation and other noncash charges and $1 million of other charges related to the shutdown of a paper
machine at the Valliant, Oklahoma mill.
(c)
Includes $17 million of severance charges and $6 million of other charges related to the shutdown of the Inverurie mill in Scotland.
(d)
Includes $5 million of severance charges and $3 million of other charges related to the shutdown of the Franklin, Virginia lumber mill, sheet converting
plant and converting innovations center and $3 million of charges related to the shutdown of the Bastrop, Louisiana mill.
(e)
Includes $199 million of accelerated depreciation and other noncash charges, $23 million of severance charges and $1 million of other charges related to
the shutdown of the Franklin, Virginia mill.
(f)
Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $3 million of other charges related to the reorganization of
the Companys Shorewood operations.
(g)
Includes $59 million of accelerated depreciation charges and other noncash charges, $7 million of severance charges and $1 million of other charges related
to the shutdown of the Franklin, Virginia mill.
Included in the $1.4 billion of organizational restructuring and other charges is $166
million of severance charges and $85 million of related benefits for approximately 3,175 employees. As of December 31, 2010, all of these employees had been terminated.
The following table presents a rollforward of the severance and other costs included in the 2009 restructuring charges:
In millions
Severance
and Other
Opening balance (recorded first quarter 2009)
$
74
Additions (second quarter 2009)
48
Additions (third quarter 2009)
45
Additions (fourth quarter 2009)
84
2009 activity
Cash charges
(82
)
Pension and postretirement termination benefits
(85
)
2010 activity
Cash charges
(84
)
Balance, December 31, 2010
$
0
2008: During 2008, total restructuring and other charges of $370 million before taxes ($227
million after taxes) were recorded. These charges included:
In millions
Before-Tax
Charges
After-Tax
Charges
Bastrop, Louisiana mill shutdown costs
$
123
$
75
Legal reserve adjustments (see Note 10)
75
47
2008 overhead reduction program severance and benefits
53
32
Write-off of supply chain initiative development costs for U.S. container operations
53
33
Franklin, Virginia mill paper machine shutdown costs
30
18
Shorewood Packaging Canada restructuring costs
30
19
Ace Packaging closure costs
8
5
Other
(2
)
(2
)
Total
$
370
$
227
The following table presents the $370 million restructuring and other charges by business:
In millions
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Total
Industrial Packaging
$
0
$
0
$
0
$
8
(a)
$
8
Printing Papers
0
0
0
153
(b)
153
Consumer Packaging
5
(c)
13
(c)
8
(c)
4
(c)
30
Corporate
37
0
89
53
179
Total
$
42
$
13
$
97
$
218
$
370
(a)
Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges related to the closure of the Ace
Packaging business.
(b)
Includes $71 million of accelerated depreciation charges, $32 million of severance charges, $11 million of environmental expenses and $9 million of other
charges related to the shutdown of the Bastrop, Louisiana mill, and $23 million of accelerated depreciation charges, $6 million of severance charges and $1 million of other charges related to the shutdown of a paper machine at the Franklin, Virginia
mill.
(c)
Includes $22 million of severance charges, $7 million of accelerated depreciation charges and $1 million of other charges related to the reorganization of
the Companys Shorewood operations.
Included in the $370 million of organizational restructuring and other charges is $38
million of severance charges and $15 million of related benefits for approximately 1,675 employees related to the Companys 2008 overhead cost reduction initiative. As of December 31, 2009, all of these employees had been terminated.
63
The following table presents a roll forward of the severance and other costs included in the 2008
restructuring charges:
In millions
Severance
and Other
Opening balance (recorded first quarter 2008)
$
7
Additions (second quarter 2008)
11
Additions (third quarter 2008)
5
Additions (fourth quarter 2008)
97
2008 activity
Cash charges
(24
)
2009 activity
Cash charges
(96
)
Balance, December 31, 2009
$
0
Alternative
Fuel Mixture Credits
The U.S. Internal Revenue Code provided a tax credit for companies that use alternative fuel mixtures to
produce energy to operate their businesses. The credit, equal to $0.50 per gallon of alternative fuel contained in the mixture, is refundable to the taxpayer. In January 2009, the Company received notification that its application to be registered
as an alternative fuel mixer had been approved. For the year ended December 31, 2009, the Company filed claims for alternative fuel mixture credits covering eligible periods subsequent to November 2008 through October 25, 2009 totaling
approximately $1.7 billion, all of which had been received in cash at December 31, 2009. Additionally, the Company had recorded $379 million of alternative fuel mixture credits as a reduction of income taxes payable at December 31, 2009.
Accordingly, the accompanying consolidated statement of operations includes credits of approximately $2.1 billion for the year ended December 31, 2009 in Cost of products sold ($1.4 billion after taxes), representing eligible alternative fuel
mixture credits earned through December 31, 2009, when the credit expired.
Cellulosic Bio-fuel Tax Credit
In a memorandum dated June 28, 2010, the IRS concluded that black liquor would also qualify for the cellulosic bio-fuel tax credit of $1.01
per gallon produced in 2009. On October 15, 2010, the IRS ruled that companies may qualify in the same year for the $0.50 per gallon alternative fuel mixture credit and the $1.01 cellulosic bio-fuel tax credit for 2009, but not for the same
gallons. To the extent a taxpayer changes their position and uses the $1.01 credit, they must re-pay the refunds they received as alternative fuel mixture credits attributable to the gallons converted to the cellulosic bio-fuel credit. The repayment
of this refund must include interest.
One important difference between the two credits is that the $1.01 credit must be credited against a
company's Federal taxable earnings, and the credit may be carried forward against taxable earnings through 2015. In contrast, the $0.50 credit is refundable in cash. The cellulosic bio-fuel credit is required to be included in Federal taxable
income.
The Company filed an application with the IRS on November 18, 2010, to receive the required registration code to become a
registered cellulosic bio-fuel producer. At present, the Company has not received this registration code; however, the Company believes approval of the application for the registration code to be ministerial in nature.
The Company has evaluated the optimal use of the two credits with respect to gallons produced in 2009. Considerations include uncertainty around
future federal taxable income, the taxability of the alternative fuel mixture credit, future liquidity and uses of cash such as but not limited to debt re-payments and voluntary pension contributions versus repayment of alternative fuel mixture
credits with interest. At the present time, the Company does not intend to convert any gallons under the alternative fuel mixture credit to gallons under the cellulosic bio-fuel credit. The Company will continue evaluating its position with regard
to the previously claimed alternative fuel mixture credit gallons produced in 2009. This continued evaluation may result in the Company repaying some or all of the cash received with respect to the $0.50 credit, and amendment of the Companys
2009 tax return.
During 2009, the Company did produce 64 million gallons of black liquor that were not eligible for the
alternative fuel mixture credit. The Company does intend to claim these gallons for the cellulosic bio-fuel credit by amending the Companys 2009 tax return. The impact of this amendment, which has been included in the Companys 2010
Income tax provision (benefit), is a $40 million net credit to tax expense.
As is the case with other tax credits, taxpayer claims are
subject to possible future review by the IRS which has the authority to propose adjustments to the amounts claimed, or credits received.
NOTE 5 ACQUISITIONS
2010: On June 30, 2010, International Paper completed the acquisition of SCA Packaging Asia (SCA) for a preliminary purchase price of
$205 million, including $171 million in cash plus assumed debt of
64
$34 million, subject to post-closing adjustments. The SCA packaging business in Asia consists of 13 corrugated box plants and two specialty packaging facilities, which are primarily in China,
along with locations in Singapore, Malaysia and Indonesia.
The following table summarizes the preliminary allocation of the purchase
price to the fair value of assets and liabilities acquired.
In millions
Cash and temporary investments
$
19
Accounts and notes receivable, net
71
Inventory
24
Other current assets
5
Plants, properties and equipment, net
102
Goodwill
23
Deferred tax asset
1
Other intangible assets
38
Total assets acquired
283
Accounts payable and accrued liabilities
65
Deferred tax liability
5
Non-controlling interest
8
Total liabilities assumed
78
Net assets acquired
$
205
The purchase price allocation will be finalized in the first half of 2011.
The identifiable
intangible assets acquired in connection with the SCA acquisition included the following:
In millions
Estimated
Fair Value
Average
Remaining
Useful Life
Asset Class:
(at acquisition date)
Land-use rights
$
29
39 years
Customer relationships
9
16 years
Total
$
38
2008: On August 4, 2008,
International Paper completed the acquisition of the assets of Weyerhaeuser Companys Containerboard, Packaging and Recycling (CBPR) business for approximately $6 billion in cash, subject to post-closing adjustments. In June 2008, the Company
had issued $3 billion of unsecured senior notes in anticipation of the acquisition. The remainder of the purchase price was financed through borrowings under a $2.5 billion bank term loan, $0.4 billion of borrowings under a receivables
securitization program and existing cash
balances. The CBPR operating results are included in International Papers North American Industrial Packaging business from the date of acquisition.
The following table summarizes the final allocation of the purchase price, plus direct acquisition costs, to the fair value of assets and
liabilities acquired.
In millions
Cash and temporary investments
$
2
Accounts and notes receivable, net
655
Inventory
568
Other current assets
11
Plants, properties and equipment, net
4,816
Goodwill
445
Other intangible assets
65
Deferred charges and other assets
63
Total assets acquired
6,625
Accounts payable and accrued liabilities
463
Other liabilities
85
Total liabilities assumed
548
Net assets acquired
$
6,077
The identifiable intangible assets acquired in connection with the CBPR acquisition included the following:
In millions
Estimated
Fair Value
Average
Remaining
Useful Life
Asset Class:
(at acquisition date
)
Tradenames
$
8
4 - 12 years
Patented technology
15
4 - 12 years
Proprietary software
16
4 - 5 years
Power agreements
20
1 - 7 years
Water rights
6
Indefinite
Total
$
65
In connection with the purchase price
allocation, inventories were written up by approximately $39 million before taxes ($24 million after taxes) to their estimated fair value. As the related inventories were sold during the 2008 third quarter, this amount was included in Cost of
products sold for the quarter.
Additionally, Selling and administrative expenses for the years ended 2009 and 2008 included $87 million
in charges before taxes ($54 million after taxes) and $45 million in charges before taxes ($28 million after taxes), respectively, for integration costs associated with the acquisition.
The following unaudited pro forma information for the year ended December 31, 2008 represents the results of operations of International Paper
as if the
65
CBPR acquisition had occurred on January 1, 2008. This pro forma information does not purport to represent International Papers actual results of operations if the transaction
described above would have occurred on January 1, 2008, nor is it necessarily indicative of future results. Pro forma information related to the acquisition of SCA Packaging Asia has not been included as it does not have a material effect on
the Companys consolidated results of operations.
In millions, except per share amounts
2008
Net sales
$
27,920
Earnings (loss) from continuing operations
(1,348
)
Net earnings (loss) (1)
(1,361
)
Earnings (loss) from continuing operations per common share
(3.20
)
Net earnings (loss) per common share (1)
(3.23
)
(1)
Attributable to International Paper Company common shareholders.
NOTE 6 BUSINESSES HELD FOR SALE, DIVESTITURES AND IMPAIRMENTS
DISCONTINUED OPERATIONS
2008: During the three months ended December 31, 2008,
the Company recorded pre-tax gains of $9 million ($5 million after taxes) for adjustments to reserves associated with the sale of discontinued operations.
During the three months ended March 31, 2008, the Company recorded a pre-tax charge of $25 million ($16 million after taxes) related to the final settlement of a post-closing adjustment to the purchase price
received by the Company for the sale of its Beverage Packaging business, and a $3 million charge before taxes ($2 million after taxes) for 2008 operating losses related to certain wood products facilities.
FORESTLANDS
2008: During both the
three months ended June 30, 2008 and the three months ended September 30, 2008, a pre-tax gain totaling $6 million ($4 million after taxes) was recorded to adjust reserves related to the Companys 2006 Transformation Plan forestland
sales.
OTHER DIVESTITURES AND IMPAIRMENTS
2010: During the three months ended December 31, 2010, the Company recorded a pre-tax gain of $25 million ($15 million after taxes) as a result of the
partial redemption of the 10% interest the Company retained in its Arizona Chemical business after the sale of the business in 2006. The Company received $37 million in cash from the redemption
of this interest.
Also, during the three months ended December 31, 2010, a $2 million charge, before and after taxes, was recorded
to further write down the long-lived assets of the Companys Inverurie, Scotland mill, which was closed in March 2009.
The net
2010 gain totaling $23 million discussed above is included in Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations.
2009: During the three months ended June 30, 2009, based on a current strategic plan update of projected future operating results of
the Companys Etienne mill in France, a determination was made that the current book value of the mills long-lived assets exceeded their estimated fair value, calculated using the probability-weighted present value of projected future
cash flows. As a result, a $48 million charge, before and after taxes, was recorded in the Companys Industrial Packaging industry segment to write down the long-lived assets of the mill to their estimated fair value.
During the three months ended December 31, 2009, an $8 million charge, before and after taxes, was recorded in the Companys Industrial
Packaging segment related to the Companys Etienne mill in France, which was closed at the end of November 2009. In addition, a pre-tax charge of $3 million ($0 million after taxes) was recorded for other items, of which $2 million, before and
after taxes, was recorded in the Industrial Packaging segment.
The net 2009 losses totaling $59 million discussed above are included in
Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations.
2008: During
the three months ended September 30, 2008, based on a current strategic plan update of projected future operating results of the Companys Inverurie, Scotland mill, a determination was made that the current book value of the mills
long-lived assets exceeded their estimated fair value, calculated using the probability-weighted present value of projected future cash flows. As a result, a $107 million pre-tax charge ($84 million after taxes) was recorded in the Companys
Printing Papers industry segment to write down the long-lived assets
66
of the mill to their estimated fair value. In February 2009, a decision was made to close the mill by the end of March 2009.
During the three months ended March 31, 2008, a $1 million credit, before and after taxes, was recorded to adjust previously estimated
gains/losses of businesses previously sold.
The net 2008 pre-tax losses totaling $106 million discussed above are included in Net
(gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations.
NOTE 7 SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION
ACCOUNTS AND NOTES RECEIVABLE
Accounts and notes receivable, net of allowances, by
classification were:
In millions at December 31
2010
2009
Accounts and notes receivable:
Trade
$
2,854
$
2,476
Other
185
219
Total
$
3,039
$
2,695
INVENTORIES
Inventories by major category were:
In millions at December 31
2010
2009
Raw materials
$
419
$
307
Finished pulp, paper and packaging products
1,505
1,443
Operating supplies
364
377
Other
59
52
Inventories
$
2,347
$
2,179
The last-in, first-out inventory method is used to value most of International Papers U.S. inventories. Approximately 69% of total raw
materials and finished products inventories were valued using this method. If the first-in, first-out method had been used, it would have increased total inventory balances by approximately $334 million and $306 million at December 31, 2010 and
2009, respectively.
PLANTS, PROPERTIES AND EQUIPMENT
Plants, properties and equipment by major classification were:
In millions at December 31
2010
2009
Pulp, paper and packaging facilities
Mills
$
22,935
$
22,615
Packaging plants
6,534
6,348
Other plants, properties and equipment
1,524
1,542
Gross cost
30,993
30,505
Less: Accumulated depreciation
18,991
17,817
Plants, properties and equipment, net
$
12,002
$
12,688
Depreciation expense was $1.4 billion for each of the years ended December 31, 2010 and 2009, and $1.3 billion for the year ended
December 31, 2008.
INTEREST
Cash payments related to interest were as follows:
In millions
2010
2009
2008
Interest payments
$
657
$
656
$
597
Amounts related to interest were as
follows:
In millions
2010
2009
2008
Interest expense (a)
$
643
$
702
$
572
Interest income (a)
35
33
80
Capitalized interest costs
14
12
27
(a)
Interest expense and interest income exclude approximately $44 million, $117 million and $233 million in 2010, 2009 and 2008, respectively, related to
investments in and borrowings from variable interest entities for which the Company has a legal right of offset (see Note 11).
SALE OF FORESTLANDS
On September 23,
2010, the Company finalized the sale of 163,000 acres of properties located in the southeastern United States to an affiliate of Rock Creek Capital (the Partnership) for $199 million, resulting in a $50 million pre-tax gain ($31 million after
taxes), after expenses. Cash of $160 million was received at closing, with the balance of $39 million, plus interest, to be received no later than three years from closing. In addition, the Company has received a 20% profits interest in the
Partnership. The gain on this sale is included in Cost of products sold in the accompanying consolidated statement of operations.
67
NOTE 8 GOODWILL AND OTHER INTANGIBLES
GOODWILL
The following tables present changes in the goodwill balances as allocated to each
business segment for the years ended December 31, 2010 and 2009:
In millions
Industrial
Packaging
Printing
Papers
Consumer
Packaging
Distri- bution
Total
Balance as of January 1, 2010
Goodwill
$
1,131
$
2,423
$
1,765
$
400
$
5,719
Accumulated
impairment losses (a)
0
(1,765
)
(1,664
)
0
(3,429
)
$
1,131
$
658
$
101
$
400
$
2,290
Reclassifications and other (b)
(3
)
22
3
0
22
Additions/ reductions
23
(c)
(27
)(d)
0
0
(4
)
Balance as of December 31, 2010
Goodwill
1,151
2,418
1,768
400
5,737
Accumulated
impairment losses (a)
0
(1,765
)
(1,664
)
0
(3,429
)
Total
$
1,151
$
653
$
104
$
400
$
2,308
(a)
Represents accumulated goodwill impairment charges since the adoption of ASC 350, Intangibles Goodwill and Other in 2002.
(b)
Represents the effects of foreign currency translations and reclassifications.
(c)
Represents the preliminary purchase price allocation related to the acquisition of SCA Packaging Asia.
(d)
Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil.
In millions
Industrial
Packaging
Printing Papers
Consumer
Packaging
Distri- bution
Total
Balance as of January 1, 2009
Goodwill
$
989
$
2,302
$
1,766
$
399
$
5,456
Accumulated impairment losses (a)
0
(1,765
)
(1,664
)
0
(3,429
)
$
989
$
537
$
102
$
399
$
2,027
Reclassifications and other (b)
2
146
0
0
148
Additions/ reductions
140
(c)
(25
)(d)
(1
)
1
115
Balance as of
December 31, 2009
Goodwill
1,131
2,423
1,765
400
5,719
Accumulated impairment losses (a)
0
(1,765
)
(1,664
)
0
(3,429
)
Total
$
1,131
$
658
$
101
$
400
$
2,290
(a)
Represents accumulated goodwill impairment charges since the adoption of ASC 350, Intangibles Goodwill and Other in 2002.
(b)
Represents the effects of foreign currency translations and reclassifications.
(c)
Reflects purchase accounting adjustments related to the CBPR acquisition.
(d)
Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil.
In the fourth quarter of 2008, in conjunction with annual testing of its reporting
units for possible goodwill impairments as of the beginning of the fourth quarter, the Company recorded a $59 million charge to write off all recorded goodwill of its European Coated Paperboard business. Subsequent to this testing date, the
Companys market capitalization declined through December 31, 2008. The Company determined that this decline, and the deterioration during the fourth quarter in economic conditions, represented indicators that required interim testing at
year end for possible additional goodwill impairment. As a result, the Company performed an interim test as of December 31, 2008 and recalculated the estimated fair value of its reporting units as of that date using updated future cash flow
projections and higher cost-of-capital discount rate assumptions, which resulted in the goodwill for two additional business units, the Companys U.S. Printing Papers business and its U.S. Coated Paperboard business, being potentially impaired.
Based on managements preliminary estimates, an additional goodwill impairment charge of $379 million was recorded, representing all of the goodwill for the U.S. Coated Paperboard business, as this was managements best estimate of the
minimum impairment charge that would be required upon the completion of a detailed allocation of the business unit fair values to the individual assets and liabilities of each of the respective reporting units. In February 2009, based on additional
work performed to date, management determined that it was probable that all of the $1.3 billion of recorded goodwill for the U.S. Printing Papers business would be impaired when testing was completed. Accordingly, an additional goodwill impairment
charge of $1.3 billion was recorded as a charge to operating results for the year ended December 31, 2008. During the first quarter of 2009, the Company finalized the testing for these businesses resulting in no changes to the recorded
impairment charges.
No goodwill impairment charges were recorded in 2010 or 2009.
68
OTHER INTANGIBLES
The net carrying amount of identifiable intangible assets (such as trade names, customer lists, patented technology, etc.), excluding goodwill, was as follows:
In millions at December 31
2010
2009
Intangible assets
$
261
$
248
The Company
recognized the following amounts as amortization expense related to intangible assets:
In millions
2010
2009
2008
Amortization expense related to intangible assets
$
31
$
34
$
36
Based on current intangibles subject to amortization, estimated amortization expense for each of the suc ceeding years is as follows: 2011
$31 million, 2012 - $28 million, 2013 $22 million, 2014 $21 million, 2015 $19 million, and cumulatively thereafter $140 million.
NOTE 9 INCOME TAXES
The components of International Papers earnings from continuing operations before income taxes and equity earnings by taxing jurisdiction
were:
In millions
2010
2009
2008
Earnings (loss)
U.S.
$
198
$
905
$
(1,365
)
Non-U.S.
624
294
212
Earnings (loss) from continuing operations before income taxes and equity
earnings
$
822
$
1,199
$
(1,153
)
The
provision (benefit) for income taxes by taxing jurisdiction was:
In millions
2010
2009
2008
Current tax provision (benefit)
U.S. federal
$
(249
)
$
228
$
159
U.S. state and local
(19
)
7
(2
)
Non-U.S.
67
74
86
$
(201
)
$
309
$
243
Deferred tax provision (benefit)
U.S. federal
$
301
$
(63
)
$
(26
)
U.S. state and local
45
41
(16
)
Non-U.S.
76
182
(39
)
$
422
$
160
$
(81
)
Income tax provision
$
221
$
469
$
162
The Companys deferred income tax provision (benefit) includes a $0 million provision, a $1 million provision and a $14 million provision for
2010, 2009 and 2008, respectively, for the effect of changes in non-U.S. and U.S. state tax rates.
International Paper made income tax payments, net of refunds, of $(135) million, $97 million and $131
million in 2010, 2009 and 2008, respectively.
A reconciliation of income tax expense using the statutory U.S. income tax rate compared
with actual income tax provision follows:
In millions
2010
2009
2008
Earnings (loss) from continuing operations before income taxes and equity earnings
$
822
$
1,199
$
(1,153
)
Statutory U.S. income tax rate
35
%
35
%
35
%
Tax expense (benefit) using statutory U.S. income tax rate
288
420
(404
)
State and local income taxes
15
32
(12
)
Tax rate and permanent differences on non-U.S. earnings
(69
)
162
(30
)
Net U.S. tax on non-U.S. dividends
16
11
46
Tax benefit on export sales and manufacturing activities
3
(2
)
(13
)
Non-deductible business expenses
8
7
4
Sales of non-strategic assets and goodwill impairments
0
0
622
Retirement plan dividends
(2
)
(2
)
(3
)
Alternative fuel mixture credits
0
(133
)
0
Cellulosic bio-fuel credits
(40
)
0
0
Tax credits
(25
)
(11
)
(22
)
Medicare subsidy
29
(7
)
(8
)
Tax audits
0
(16
)
(4
)
Other, net
(2
)
8
(14
)
Income tax provision
$
221
$
469
$
162
Effective income tax rate
27
%
39
%
(14
)%
The
tax effects of significant temporary differences, representing deferred tax assets and liabilities at December 31, 2010 and 2009, were as follows:
In millions
2010
2009
Deferred tax assets:
Postretirement benefit accruals
$
256
$
301
Pension obligations
616
1,104
Alternative minimum and other tax credits
416
192
Net operating loss carryforwards
541
534
Compensation reserves
185
238
Other
268
265
Gross deferred tax assets
2,282
2,634
Less: valuation allowance
(366
)
(346
)
Net deferred tax assets
$
1,916
$
2,288
Deferred tax liabilities:
Plants, properties and equipment
$
(2,174
)
$
(2,099
)
Forestlands and related installment sales
(2,061
)
(2,045
)
Gross deferred tax liabilities
$
(4,235
)
$
(4,144
)
Net deferred tax liability
$
(2,319
)
$
(1,856
)
69
Deferred tax assets and liabilities are recorded in the accompanying consolidated balance sheet under
the captions Deferred income tax assets, Deferred charges and other assets, Other accrued liabilities and Deferred income taxes. The decrease in 2010 in deferred tax assets principally relates to the tax impact of changes in recorded qualified
pension liabilities. The increase in deferred income tax liabilities principally relates to more tax depreciation taken on the Companys assets purchased in 2010.
The net change in the total valuation allowance for the year ended December 31, 2010, was an increase of $20 million which consists primarily of an allowance applied to state tax credits generated in the
current year.
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31,
2010, 2009 and 2008 is as follows:
In millions
2010
2009
2008
Balance at January 1
$
(308
)
$
(435
)
$
(794
)
Additions based on tax positions related to current year
(12
)
(28
)
(14
)
Additions for tax positions of prior years
(50
)
(82
)
(66
)
Reductions for tax positions of prior years
97
72
67
Settlements
0
174
352
Expiration of statutes of limitations
70
2
3
Currency translation adjustment
4
(11
)
17
Balance at December 31
$
(199
)
$
(308
)
$
(435
)
Included in the balance at December 31, 2010, 2009 and 2008 are $13 million, $56 million and $9 million, respectively, for tax positions for
which the ultimate benefits are highly certain, but for which there is uncertainty about the timing of such benefits. However, except for the possible effect of any penalties, any disallowance that would change the timing of these benefits would not
affect the annual effective tax rate, but would accelerate the payment of cash to the taxing authority to an earlier period.
The
Company accrues interest on unrecognized tax benefits as a component of interest expense. Penalties, if incurred, are recognized as a component of income tax expense. The Company had approximately $100 million and $95 million accrued for the payment
of estimated interest and penalties associated with unrecognized tax benefits at December 31, 2010 and 2009, respectively.
The
major jurisdictions where the Company files income tax returns are the United States, Brazil, France, Poland and Russia. Generally, tax years 2002 through 2010 remain open and subject to
examina-
tion by the relevant tax authorities. The Company is typically engaged in various tax examinations at any given time, both in the United States and overseas. Currently, the Company is engaged in
discussions with the U.S. Internal Revenue Service regarding the examination of tax years 2006 and 2007. As a result of these discussions, other pending tax audit settlements, and the expiration of statutes of limitation, the Company currently
estimates that the amount of unrecognized tax benefits could be reduced by up to $75 million during the next twelve months. During 2010, unrecognized tax benefits decreased by $109 million. While the Company believes that it is adequately accrued
for possible audit adjustments, the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates. Included in the Companys 2010, 2009 and 2008 income tax
provisions are $(143) million, $279 million and $(207) million, respectively, related to special items. The components of the net provisions related to special items were as follows:
In millions
2010
2009
2008
Special items and other charges:
Restructuring and other charges
$
(159
)
$
(534
)
$
(175
)
Alternative fuel mixture credit
0
650
0
Redemption of Arizona Chemical interest
10
0
0
Tax-related adjustments:
Incentive plan deferred tax write-off
14
0
0
Medicare D deferred tax write-off
32
0
0
Valuation allowance for net deferred tax assets in France
0
156
0
Settlement of federal tax audits
0
(26
)
0
Valuation allowance for Louisiana recycling credits
0
15
0
Restructuring of international operations
0
0
(40
)
Impairment of certain non-U.S. assets
0
0
(23
)
Cellulosic bio-fuel credits
(40
)
0
0
Tax on Ilim joint venture gain
0
0
29
Other tax adjustments
0
18
2
Income tax provision (benefit) related to special items
$
(143
)
$
279
$
(207
)
Excluding the impact of special items, the 2010, 2009 and 2008 tax provisions were $364 million, $190 million and $369 million, respectively, or
30%, 30% and 31.5%, respectively, of pre-tax earnings before equity earnings.
70
The following details the scheduled expiration dates of the Companys net operating loss and tax
credit carryforwards:
In millions
2011
Through
2020
2021
Through
2030
Indefinite
Total
U.S. federal and non-U.S. NOLs
$
14
$
13
$
344
$
371
State taxing jurisdiction NOLs
106
135
0
241
U.S. federal, non- U.S. and state tax credit carryforwards
81
20
399
500
State capital loss carryforwards
1
0
0
1
Total
$
202
$
168
$
743
$
1,113
Deferred income taxes are not provided for temporary differences of approximately $4.3 billion, $3.5 billion and $2.6 billion as of December 31, 2010, 2009 and 2008, respectively, representing earnings of
non-U.S. subsidiaries intended to be permanently reinvested. Computation of the potential deferred tax liability associated with these undistributed earnings and other basis differences is not practicable.
NOTE 10 COMMITMENTS AND CONTINGENT LIABILITIES
Certain property, machinery and equipment are leased under cancelable and non-cancelable agreements.
Unconditional purchase obligations have been entered into in the ordinary course of business, principally for capital projects and the purchase of
certain pulpwood, logs, wood chips, raw materials, energy and services, including fiber supply agreements to purchase pulpwood that were entered into concurrently with the Companys 2006 Transformation Plan forestland sales.
At December 31, 2010, total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as
follows:
In millions
2011
2012
2013
2014
2015
Thereafter
Lease obligations
$
162
$
135
$
110
$
87
$
75
$
158
Purchase obligations (a)
2,564
749
616
524
515
3,174
Total
$
2,726
$
884
$
726
$
611
$
590
$
3,332
(a)
Includes $2.3 billion relating to fiber supply agreements entered into at the time of the Companys 2006 Transformation Plan forestland sales.
Rent expense was $210 million, $216 million and $205 million for 2010, 2009 and 2008, respectively.
In connection with sales of businesses, property, equipment, forestlands and other assets, International Paper commonly makes
representations and warranties relating to such businesses or assets, and may agree to indemnify buyers with respect to tax and environmental liabilities, breaches of representations and warranties, and other matters. Where liabilities for such
matters are determined to be probable and subject to reasonable estimation, accrued liabilities are recorded at the time of sale as a cost of the transaction.
In May 2008, a recovery boiler at the Companys Vicksburg, Mississippi facility exploded, resulting in one fatality and injuries to employees of contractors working on the site. The Company has resolved all of
the eight original lawsuits arising from this matter. However, a new matter was filed January 4, 2011. Nevertheless, the Company believes it has adequate insurance to resolve any remaining matters, and the settlement of these lawsuits
will not have a material adverse effect on its consolidated financial statements.
International Paper has been named as a potentially
responsible party in various environmental remediation actions (See Legal Proceedings on page 45). During 2009, in connection with an environmental site remediation action under CERCLA, International Paper submitted to the EPA a feasibility study
for a closed wood treating facility located in Cass Lake, Minnesota. In November 2010 the EPA provided comments that required International Paper to narrow the remedial action alternatives identified in the study. As a result of this recent
information, the Company increased its remediation reserve for this site from $6 million to $24 million in the fourth quarter of 2010. The final remediation plan for this site has not been approved by the EPA, and of the five alternatives, the
Companys reserve reflects the low end of the range of estimated remediation costs, since, at this time, no one of the alternatives proposed by the EPA is any more likely than the others to be approved. If the most expensive of the clean-up
alternatives were approved by the EPA, the remediation costs could be material, and significantly higher than amounts currently recorded.
In June 2010, the South Carolina Department of Health and Environmental Control (DHEC) finalized its previously proposed consent order to the
Company with a civil penalty of $115,000. The penalty was levied for self-disclosed failures by the Companys Georgetown, South Carolina mill to operate
71
within carbon monoxide and total reduced sulfur emission limits under the mills Part 70 (Title V) Air Quality Operating Permit.
SUMMARY
The Company is also involved in various other inquiries, administrative proceedings
and litigation relating to environmental and safety matters, contracts, sales of property, intellectual property, personal injury, labor and employment, and other matters, some of which allege substantial monetary damages. While any proceeding or
litigation has the element of uncertainty, the Company believes that the outcome of any of the lawsuits or claims that are pending or threatened or all of them combined (other than those that cannot be assessed due to their preliminary nature), will
not have a material adverse effect on its consolidated financial statements.
NOTE 11 VARIABLE INTEREST ENTITIES AND PREFERRED SECURITIES OF SUBSIDIARIES
VARIABLE INTEREST ENTITIES
In connection
with the 2006 sale of approximately 5.6 million acres of forestlands, International Paper received installment notes (the Timber Notes) totaling approximately $4.8 billion. The Timber Notes, which do not require principal payments prior to
their August 2016 maturity, are supported by irrevocable letters of credit obtained by the buyers of the forestlands. During the three months ended December 31, 2006, International Paper contributed the Timber Notes to newly formed entities
(the Borrower Entities) in exchange for Class A and Class B interests in these entities. Subsequently, International Paper contributed its $200 million Class A interests in the Borrower Entities, along with approximately $400 million of
International Paper promissory notes, to other newly formed entities (the Investor Entities, and together with the Borrower Entities, the Entities) in exchange for Class A and Class B interests in these entities, and simultaneously sold its
Class A interest in the Investor Entities to a third party investor. As a result, at December 31, 2006, International Paper held Class B interests in the Borrower Entities and Class B interests in the Investor entities valued at
approximately $5.0 billion. International Paper has no obligation to make any further capital contributions to these Entities and did not provide any financial support that was not previously contractually required for the years ended
December 31, 2010, 2009 or 2008.
Also during 2006, the Entities acquired approximately $4.8 billion of International Paper debt
obligations for cash, resulting in a total of approximately $5.2 billion of International Paper debt obligations held by the Entities at December 31, 2006. The various agreements entered into in connection with these transactions provide that
International Paper has, and intends to affect, a legal right to offset its obligation under these debt instruments with its investments in the Entities. Accordingly, for financial reporting purposes, International Paper has offset approximately
$5.1 billion of Class B interests in the entities against $5.1 billion of International Paper debt obligations held by these Entities at December 31, 2010 and 2009. Remaining borrowings of $129 million and $144 million for 2010 and 2009,
respectively, are included in floating rate notes due 2011 2016 in the summary of long-term debt in Note 12. Additional debt related to the above transaction of $38 million and $46 million is included in short-term notes in the summary of
long-term debt in Note 12 for 2010 and 2009, respectively.
International Paper also holds variable interests in two financing entities
that were used to monetize long-term notes received from the sale of forestlands in 2001 and 2002. International Paper transferred notes (the Monetized Notes, with an original maturity of 10 years from inception) and cash having a value of
approximately $1.0 billion to these entities in exchange for preferred interests, and accounted for the transfers as a sale of the notes with no associated gain or loss. In the same period, the entities acquired approximately $1.0 billion of
International Paper debt obligations for cash. International Paper has no obligation to make any further capital contributions to these entities and did not provide any financial support that was not previously contractually required during the
years ended December 31, 2010, 2009 or 2008. At December 31, 2010, International Papers $542 million preferred interest in one of the entities has been offset against related debt obligations since International Paper has, and
intends to affect, a legal right of offset to net-settle these two amounts. Other outstanding debt related to the above transactions of $464 million and $465 million is included in floating rate notes due 2011 2016, and $4 million and $7
million is included in short-term notes in the summary of long-term debt in Note 12 for 2010 and 2009, respectively.
Based on an
analysis of these entities under guidance that considers the potential magnitude of the variability in the structures and which party has a controlling financial interest, International Paper determined that it is not the primary beneficiary of the
above entities, and therefore, should not con-
72
solidate its investments in these entities. It was also determined that the source of variability in the structure is the value of the Timber Notes and Monetized Notes, the assets most
significantly impacting each structures economic performance. The credit quality of the Timber Notes and Monetized Notes are supported by irrevocable letters of credit obtained by third party buyers which are 100% cash collateralized.
International Paper analyzed which party has control over the economic performance of each entity, and concluded International Paper does not have control over significant decisions surrounding the Timber Notes, Monetized Notes and letters of credit
and therefore is not the primary beneficiary. The Companys maximum exposure to loss equals the value of the Timber Notes and Monetized Notes; however, an analysis performed by the Company concluded the likelihood of this exposure is remote.
PREFERRED SECURITIES OF SUBSIDIARIES
In March 2003, Southeast Timber, Inc. (Southeast Timber), a consolidated subsidiary of International Paper, issued $150 million of preferred securities to a private investor with future dividend payments based on
LIBOR. Southeast Timber, which through a subsidiary initially held approximately 1.5 million acres of forestlands in the southern United States, was International Papers primary vehicle for sales of southern forestlands. As of
December 31, 2010, substantially all of these forestlands have been sold. These preferred securities may be put back to International Paper by the private investor upon the occurrence of certain events, and have a liquidation preference that
approximates their face amount. The $150 million preferred third-party interest is included in Noncontrolling interests in the accompanying consolidated balance sheet. Distributions paid to the third-party investor were $5 million, $6 million and
$10 million in 2010, 2009 and 2008, respectively. The expense related to these preferred securities is shown in Net earnings (loss) attributable to noncontrolling interests in the accompanying consolidated statement of operations.
NOTE 12 DEBT AND LINES OF CREDIT
In November 2010, International Paper repaid approximately $54 million of notes with interest rates ranging from 7.3% to 9.375% and original maturities from 2018 to 2039. Pre-tax early debt retirement costs of $13
million related to these debt payments are included in Restructuring and other charges in the accompanying consolidated statement of operations.
During the three months ended September 30, 2010, International Paper repaid approximately $111
mil-
lion of notes with interest rates ranging from 5.375% to 6.8% and original maturities from 2016 to 2024.
In May 2010, International Paper repaid approximately $108 million of notes with interest rates ranging from 5.3% to 9.375% and original maturities from 2015 to 2019. Pre-tax early debt retirement costs of $21
million related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations (offset by a $3 million gain on associated interest rate swaps as discussed in Note 13).
During the three months ended March 31, 2010, International Paper repaid approximately $120 million of notes with interest rates ranging from
5.25% to 7.4% and original maturities from 2010 to 2027. Pre-tax early debt retirement costs of $5 million related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations
(offset by a $1 million gain on associated interest rate swaps as discussed in Note 13).
In December 2009, International Paper issued
$750 million of 7.3% senior unsecured notes with a maturity date in November 2039. The proceeds from this borrowing, along with available cash, were used to repay the remaining $1 billion of the $2.5 billion long-term debt issued in connection with
the CBPR business acquisition. During 2009, additional repayments related to this debt totaled approximately $1.4 billion.
Also in
December 2009, International Paper Investments (Luxembourg) S.a.r.l., a wholly-owned subsidiary of International Paper, repaid $214 million of notes with an interest rate of LIBOR plus a margin of 40 basis points and an original maturity in 2010.
Other debt activity during the three months ended December 31, 2009 included the repayment of approximately $235 million of notes with interest rates ranging from 4.0% to 9.375% and original maturities from 2009 to 2038. Pre-tax early debt
retirement costs of $36 million related to these debt repayments during the three months ended December 31, 2009 are included in Restructuring and other charges in the accompanying consolidated statement of operations.
In August 2009, International Paper issued $1 billion of 7.5% senior unsecured notes with a maturity date in August 2021. The proceeds from this
borrowing were used to repay approximately $942 million of notes with interest rates ranging from 5.125% to 7.4% and original maturities from 2012 to 2026. Pre-tax early debt retirement costs of $118 million
73
related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations.
In May 2009, International Paper issued $1 billion of 9.375% senior unsecured notes with a maturity date in May 2019. The proceeds from this
borrowing were used to repay approximately $875 million of notes with interest rates ranging from 4.0% to 9.25% and original maturities from 2010 to 2012. Also in April 2009, International Paper Company Europe Ltd, a wholly-owned subsidiary of
International Paper, repaid $75 million of notes issued in connection with the Ilim Holding S.A. joint venture that had matured. Pre-tax early debt retirement costs of $46 million related to debt repayments during the three months ended
June 30, 2009 are included in Restructuring and other charges in the accompanying consolidated statement of operations.
In March
2009, Luxembourg borrowed $468 million of long-term debt with an initial interest rate of LIBOR plus a margin of 450 basis points that varied depending upon the credit rating of the Company, and a maturity date in March 2012. International Paper
used the $468 million of proceeds from the loan and cash of approximately $170 million to repay its 500 million euro-denominated debt (equivalent to $638 million at date of payment) with an original maturity date in August 2009. As of
September 30, 2009, the $468 million loan was repaid. Other debt activity during the three months ended March 31, 2009 included the repayment of approximately $366 million of notes with interest rates ranging from 4.25% to 5.0% that had
matured.
A summary of long-term debt follows:
In millions at December 31
2010
2009
8.7% to 10% notes - due 2038
$
274
$
280
9 3/8% note - due 2019
907
939
9.25% debentures - due 2011
9
9
7.95% debentures - due 2018
1,561
1,653
7.5% notes - due 2021
999
999
7.4% debentures - due 2014
303
309
7.3% notes - due 2039
725
748
6 7/8% notes - due 2023 - 2029
130
130
6.65% to 6.75% notes - due 2011
36
36
6.4% to 7.75% debentures due 2025 - 2027
141
158
5.85% notes - due 2012
38
38
5.25% to 5.5% notes - due 2014 - 2016
701
732
Floating rate notes - due 2011 - 2016 (a)
593
637
Environmental and industrial development bonds - due 2011 - 2034 (b)
1,892
1,992
Short-term notes (c)
210
224
Other (d)
152
149
Total (e)
8,671
9,033
Less: current maturities
313
304
Long-term debt
$
8,358
$
8,729
(a)
The weighted average interest rate on these notes was 1.5% in 2010 and 2.0% in 2009.
(b)
The weighted average interest rate on these bonds was 5.6% in 2010 and 2009.
(c)
The weighted average interest rate was 3.2% in 2010 and 4.1% in 2009. Includes $146 million at December 31, 2010 and $161 million at December 31,
2009 related to non-U.S. denominated borrowings with a weighted average interest rate of 4.3% in 2010 and 4.8% in 2009.
(d)
Includes an unamortized gain of $8 million at December 31, 2010 and a loss of $18 million at December 31, 2009, related to interest rate swaps
treated as fair value hedges. Also includes $70 million at December 31, 2010 and $80 million at December 31, 2009, related to the unamortized gain on interest rate swap unwinds (see Note 13).
(e)
The fair market value was approximately $9.7 billion at December 31, 2010 and December 31, 2009.
In addition to the long-term debt obligations shown above, International Paper has $5.7 billion of debt obligations payable to non-consolidated
variable interest entities having principal payments of $542 million due 2011 and $5.1 billion due in 2016, for which International Paper has, and intends to affect, a legal right to offset these obligations with Class B interests held in the
entities. Accordingly, in the accompanying consolidated balance sheet, International Paper has offset the $5.7 billion of debt obligations with $5.7 billion of Class B interests in these entities as of December 31, 2010 (see Note 11).
Total maturities of long-term debt over the next five years are 2011 $313 million; 2012 $324 million; 2013 $135
million; 2014 - $559 million; and 2015 $786 million. At December 31, 2010 and 2009, International Paper classified $100 million and $450 million, respectively, of current maturities of long-term debt as Long-term debt. International
Paper has the intent and ability to renew or convert these obligations, as evidenced by the available bank credit agreements described below.
At December 31, 2010, International Papers contractually committed credit facilities (the Agreements) totaled $2.5 billion. The Agreements generally provide for interest rates at a floating rate index
plus a pre-determined margin dependent upon International Papers credit rating. The Agreements include a $1.5 billion contractually committed bank facility that expires in November 2012 and has a facility fee of 0.50% payable quarterly. The
Agreements also include up to $1.0 billion of commercial paper-based financings based on eligible receivables balances ($877 million available as of December 31, 2010) under a receivables securitization program. On January 12, 2011, the
Company amended the
74
receivables securitization programs to extend the maturity date from January 2011 to January 2012. The amended agreement has a facility fee of 0.40% payable monthly. At December 31, 2010,
there were no borrowings under either the bank facility or receivables securitization program.
Maintaining an investment grade credit
rating is an important element of International Papers financing strategy. At December 31, 2010, the Company held long-term credit ratings of BBB (stable outlook) and Baa3 (stable outlook) by S&P and Moodys, respectively.
NOTE 13 DERIVATIVES AND HEDGING ACTIVITIES
International Paper periodically uses derivatives and other financial instruments to hedge exposures to interest rate, commodity and currency risks. International Paper does not hold or issue financial instruments
for trading purposes. For hedges that meet the hedge accounting criteria, International Paper, at inception, formally designates and documents the instrument as a fair value hedge, a cash flow hedge or a net investment hedge of a specific underlying
exposure, as well as the risk management objective and strategy for undertaking each hedge transaction. Derivatives are recorded in the consolidated balance sheet at fair value, determined using available market information or other appropriate
valuation methodologies, in Other current assets, Deferred charges and other assets, Other accrued liabilities or Other liabilities. The earnings impact resulting from changes in the fair value of derivative instruments is recorded in the same line
item in the consolidated statement of operations as the underlying exposure being hedged or in Accumulated other comprehensive income (AOCI) for derivatives that qualify as cash flow hedges. Any ineffective portion of a financial instruments
change in fair value is recognized currently in earnings together with changes in the fair value of any derivatives not designated as hedges.
Foreign exchange contracts are used by International Paper to offset the earnings impact relating to the variability in exchange rates on certain monetary assets and liabilities denominated in non-functional
currencies and are not designated as hedges. Changes in the fair value of these instruments, recognized in earnings to offset the remeasurement of the related assets and liabilities, totaled a gain of approximately $33 million for the year ended
December 31, 2010 and a loss of $50 million and $30 million for the years ended December 31, 2009 and
2008, respectively. As of December 31, 2010 and 2009, the outstanding undesignated foreign exchange contracts included the following:
UNDESIGNATED VOLUMES
In millions
December 31,
2010
December 31,
2009
Sell / Buy
Sell Notional
Sell Notional
U.S. dollar / European euro
109
108
European euro / British pounds
0
29
European euro / Polish zloty
0
39
European euro / U.S. dollar
85
9
South Korean won / U.S. dollar
8,076
3,629
Interest rate swap agreements of $1 billion floating-to-fixed notional and an offsetting $1 billion fixed-to-floating notional that did not qualify
as hedges under the accounting guidance during 2010 and matured in September 2010 resulted in a $22 million gain that was recognized in earnings for the year ended December 2010.
FAIR VALUE HEDGES
For derivative instruments that are designated and qualify as fair value
hedges, the gain or loss on the derivative, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in earnings.
International Paper utilizes interest rate swaps as fair value hedges of the benchmark interest rates of fixed rate debt. At December 31, 2010 and December 31, 2009, the outstanding notional amounts of
interest rate swap agreements that qualify as fully effective fair value hedges were approximately $274 million and $1.1 billion, respectively.
During the three months ended June 30, 2010, in connection with early debt extinguishment, interest rate swap agreements that were issued in the fourth quarter of 2009 with a notional value of $2 million were
undesignated as effective fair value hedges. The resulting gain was immaterial. Also related to early debt extinguishment, deferred gains of $3 million related to previously terminated effective interest rate swaps were recognized in earnings. This
gain is included in Restructuring and other charges in the accompanying consolidated statement of operations.
In June 2010, interest
rate swap agreements issued in the fourth quarter of 2009 and designated as fair value hedges with a notional value of $100 million were terminated. The termination was not in connection with early retirement of debt. The resulting
75
gain of $3 million was deferred and recorded in Long-term debt and is being amortized as an adjustment of interest expense over the life of the underlying debt through 2019.
In January 2010, approximately $700 million of fixed-to-floating interest rate swaps that were issued in 2009 were terminated. These terminations
were not in connection with early debt retirements. The resulting $2 million gain was deferred and recorded in Long-term debt and is being amortized as an adjustment of interest expense over the life of the underlying debt through April 2015.
During the three months ended March 31, 2010, a previously deferred gain of $1 million was recognized in earnings in connection
with early debt retirements. This gain is included in Restructuring and other charges in the accompanying consolidated statement of operations.
During the three months ended December 31, 2009, the Company entered into various fixed-to-floating interest rate swap agreements with a notional amount of approximately $1 billion to hedge existing debt. The
interest rate swaps were effective December 2009 and would have matured within a range of five to ten years. Also in August of 2009, the Company entered into a fixed-to-floating interest rate swap agreement with a notional value of $100 million. The
interest rate swap was effective August 2009 with an original maturity date in April 2015. These interest rate swaps were designated as fully effective fair value hedges of the benchmark interest rate under ASC 815. Subsequently in 2010, the
majority of these interest rate swaps were terminated or undesignated. See above for a discussion of the 2010 activity.
During the
three months ended September 30, 2009, in connection with various early debt retirements, interest rate swap hedges with a notional value of $520 million, including $500 million of swaps issued during the three months ended June 30, 2009,
were terminated or undesignated as an effective fair value hedge resulting in a gain of approximately $9 million. This gain is included in Restructuring and other charges in the accompanying consolidated statement of operations.
During 2009, an interest rate swap agreement designated as a fair value hedge with a notional value of $100 million was terminated, resulting in a
gain of $11 million that was deferred and recorded in Long-term debt. This gain will be amortized as an adjustment of interest expense over the life of the underlying debt through 2016. Also, previously
deferred gains of $40 million related to earlier swap terminations were recognized in earnings in connection with early debt retirements. These gains are included in Restructuring and other
charges in the accompanying consolidated statement of operations.
CASH FLOW HEDGES
For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is
reported as a component of AOCI and reclassified into earnings in the same period or periods in which the hedged transaction affects earnings. Financial instruments designated as cash flow hedges are assessed both at inception and quarterly
thereafter to ensure they are effective in offsetting changes in the cash flows of the related underlying exposures. The fair value of the hedge instruments are reclassified out of AOCI to earnings if the hedge ceases to be highly effective or if
the hedged transaction is no longer probable.
Interest Rate Risk
International Paper utilizes interest rate swaps as cash flow hedges of the benchmark interest rate of future interest payments. At
December 31, 2010 and 2009, there were no outstanding interest rate swap agreements that qualified as cash flow hedges.
In
September 2009, the Company undesignated the $1 billion of interest rate swaps that qualified as cash flow hedges and entered into an offsetting $1 billion fixed-to-floating interest rate swap with a maturity date in September 2010 to minimize the
earnings exposure from the undesignated swaps. Subsequently in December 2009 in connection with early debt retirements, a $24 million loss related to the fair value of these swaps was reclassified from AOCI and included in Restructuring and other
charges in the accompanying consolidated statement of operations.
Also, during the three months ended September 30, 2009, in
connection with various early debt retirements, unamortized deferred losses of approximately $10 million related to earlier swap terminations were reclassified from AOCI and included in Restructuring and other charges in the accompanying
consolidated statement of operations.
During the three months ended December 31, 2009, the Company entered into treasury rate lock
agreements to fix interest rates on an anticipated issuance of debt. Upon issuance of the debt later in the quarter, these agreements generated a pre-tax loss of $3 million that was recorded in AOCI. This amount is
76
being amortized to interest expense over the term of the bonds through August 2039, yielding an effective interest rate of 7.3%.
Commodity Risk
To minimize volatility in earnings due to large fluctuations in the
price of commodities, International Paper utilizes swap contracts to manage risks associated with market fluctuations in energy prices. These contracts are designated as cash flow hedges of forecasted commodity purchases. At December 31, 2010,
the hedged volumes of these energy contracts totaled 200,000 barrels of fuel oil and 12 Million British Thermal Units (MMBTUs) of natural gas. These contracts had maturities of two years or less as of December 31, 2010. At December 31,
2009, the hedged volumes totaled 900,000 barrels of fuel oil and 21 MMBTUs of natural gas. Deferred losses totaling $15 million after taxes at December 31, 2010 are expected to be recognized through earnings within the next 12 months.
Foreign Currency Risk
Foreign exchange contracts are also used as cash flow hedges of certain forecasted transactions denominated in foreign currencies to manage
volatility associated with these transactions and to protect International Paper from currency fluctuations between the contract date and ultimate settlement. At December 31, 2010, these contracts have maturities of three years or less.
Deferred gains of $10 million after taxes at December 31, 2010 are expected to be recognized through earnings within the next 12 months. As of December 31, 2010 and December 31, 2009, the following outstanding foreign exchange
contracts were entered into as cash flow hedges of forecasted transactions:
DESIGNATED VOLUMES
In millions
December 31,
2010
December 31,
2009
Sell / Buy
Sell Notional
Sell Notional
European euro / Brazilian real
4
11
U.S. dollar / Brazilian real
74
265
British pounds / Brazilian real
8
12
European euro / Polish zloty
223
164
On June 30, 2010, foreign exchange contracts to sell 123 million U.S. dollars and buy Brazilian reals were undesignated as cash flow
hedges of an International Paper wholly-owned subsidiarys foreign exchange risk due to the forecasted transactions not being probable. In July 2010, the undesignated
for-
eign exchange contracts were terminated resulting in cash received of $5 million. The change, a $3 million gain, in the fair value of the contracts since they were undesignated was recognized in
earnings. The fair value of the contracts when they were undesignated, a $1 million gain after taxes, was deferred in AOCI since the forecasted transactions remained reasonably possible. The deferred gain will be reclassified out of AOCI to earnings
when the forecasted transactions are no longer reasonably possible or when the hedged transactions affect earnings. As of December 31, 2010, the forecasted transactions remained reasonably possible.
Fair Value Measurements
International Papers financial assets and liabilities that are recorded at fair value consist of derivative contracts, including interest
rate swaps, foreign currency forward contracts, and other financial instruments that are used to hedge exposures to interest rate, commodity and currency risks. In addition, a consolidated subsidiary of International Paper has an embedded
derivative. For these financial instruments and the embedded derivative, fair value is determined at each balance sheet date using an income approach. Below is a description of the valuation calculation and the inputs used for each class of
contract:
Interest Rate
Contracts are valued using swap curves obtained from an independent market data provider. The market value of each contract is the sum of the fair value of all future interest payments between the
contract counterparties, discounted to present value. The fair value of the future interest payments is determined by comparing the contract rate to the derived forward interest rate and present valued using the appropriate derived interest rate
curve.
Fuel Oil Contracts are
valued using the average of two forward fuel oil curves as quoted by third parties. The fair value of each contract is determined by comparing the strike price to the forward price of the corresponding fuel oil contract and present valued using the
appropriate interest rate curve.
Natural Gas Contracts are traded over-the- counter and settled using the NYMEX last day settle price; therefore, forward contracts are valued using the closing prices of the NYMEX natural gas future contracts. The fair value of each
contract is determined by comparing the strike price to the closing price of the corresponding natural gas future contract and present valued using the appropriate interest rate curve.
77
Foreign Exchange Contracts are valued using the foreign currency forward and interest rate curves obtained from an independent market data provider. The fair value of each contract is determined by comparing the contract rate to the forward
rate. The fair value is present valued using the applicable interest rate from an independent market data provider.
Embedded
Derivatives are valued using a hypothetical interest rate derivative with identical terms. The hypothetical interest rate derivative contracts are fair valued as described above under Interest Rate Contracts.
Since the volume and level of activity of the markets that each of the above contracts are traded in has been normal, the fair value calculations
have not been
adjusted for inactive markets or disorderly transactions.
The guidance for fair
value measurements and disclosures sets out a fair value hierarchy that groups fair value measurement inputs into three classifications: Level 1, Level 2 and Level 3. Level 1 inputs are quoted prices in an active market for identical assets or
liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Transfers
between levels are recognized at the end of the reporting period. All of International Papers fair value measurements use Level 2 inputs. The following table provides a summary of the impact of our derivative instruments in the consolidated
balance sheet:
Fair Value Measurements
Level 2 Significant Other Observable Inputs
Assets
Liabilities
In millions
December 31, 2010
December 31, 2009
December 31, 2010
December 31, 2009
Derivatives designated as hedging instruments
Interest rate contracts fair value
$
10
(a)
$
5
(e)
$
0
$
20
(h)
Fuel oil contracts cash flow
3
(b)
16
(f)
0
4
(i)
Natural gas contracts cash flow
0
0
32
(g)
38
(j)
Foreign exchange contracts cash flow
18
(c)
32
(b)
1
(h)
0
Total derivatives designated as hedging instruments
$
31
$
53
$
33
$
62
Derivatives not designated as hedging instruments
Interest rate contracts
$
0
$
1
(b)
$
8
(h)
$
29
(k)
Embedded derivatives
8
(d)
6
(d)
0
0
Foreign exchange contracts
1
(b)
2
(b)
5
(i)
2
(i)
Total derivatives not designated as hedging instruments
$
9
$
9
$
13
$
31
Total derivatives
$
40
$
62
$
46
$
93
(a)
Includes $3 million recorded in Accounts and notes receivable, net, and $7 million recorded in Deferred charges and other assets in the accompanying
consolidated balance sheet.
(b)
Included in Other current assets in the accompanying consolidated balance sheet.
(c)
Includes $13 million recorded in Other current assets and $5 million recorded in Deferred charges and other assets in the accompanying consolidated balance
sheet.
(d)
Included in Deferred charges and other assets in the accompanying consolidated balance sheet.
(e)
Includes $2 million recorded in Accounts and notes receivable, net, and $3 million recorded in Deferred charges and other assets in the accompanying
consolidated balance sheet.
(f)
Includes $13 million recorded in Other current assets and $3 million recorded in Deferred charges and other assets in the accompanying consolidated balance
sheet.
(g)
Includes $27 million recorded in Other accrued liabilities and $5 million recorded in Other liabilities in the accompanying consolidated balance sheet.
(h)
Included in Other liabilities in the accompanying consolidated balance sheet.
(i)
Included in Other accrued liabilities in the accompanying consolidated balance sheet.
(j)
Includes $26 million recorded in Other accrued liabilities and $12 million recorded in Other liabilities in the accompanying consolidated balance sheet.
78
(k)
Includes $23 million recorded in Other accrued liabilities and $6 million recorded in Other liabilities in the accompanying consolidated balance sheet.
The following table shows the
change in AOCI, net of tax, related to derivative instruments:
Gain or (Loss)
Recognized in OCI
(Effective
Portion)
Location of Gain or
(Loss) Reclassified
from OCI into
Income
(Effective Portion)
(Gain) or Loss
Reclassified from
OCI into
Income
(Effective Portion)
2010
2009
2008
2010
2009
2008
Interest rate contracts
$
0
$
(8
)
$
(34
)
Interest expense, net
$
0
$
40
$
1
Fuel oil contracts
(1
)
23
(23
)
Cost of products sold
(4
)
5
3
Natural gas contracts
(13
)
(26
)
(15
)
Cost of products sold
15
28
(8
)
Foreign exchange contracts
37
51
(34
)
Cost of products sold
(42
)
(19
)
(51
)
Total
$
23
$
40
$
(106
)
$
(31
)
$
54
$
(55
)
Credit-Risk-Related Contingent Features
International Paper evaluates credit risk by monitoring its exposure with each counterparty to ensure that exposure stays within acceptable policy
limits. Credit risk is also mitigated by contractual provisions with the majority of our banks. Most of the contracts include a credit support annex that requires the posting of collateral by the counterparty or International Paper based on each
partys rating and level of exposure. Based on the Companys current credit rating, the collateral threshold is generally $10 million. If the lower of the Companys credit rating by Moodys or S&P were to drop below
investment grade, the Company would be required to post collateral for all of its derivatives in a net liability position, although no derivatives would terminate. The fair values of derivative instruments containing credit-risk-related contingent
features in a net liability position were $32 million as of December 31, 2010 and $65 million as of December 31, 2009. The Company was not required to post any collateral as of December 31, 2010 and an immaterial amount of collateral
was posted as of December 31, 2009 due to exceeding the counterpartys collateral threshold in the normal course of business. In addition, existing derivative contracts (except foreign exchange contracts) provide for netting across most
derivative positions in the event a counterparty defaults on a payment obligation. International Paper currently does not expect any of the counterparties to default on their obligations.
NOTE 14 CAPITAL STOCK
The authorized capital stock at both December 31, 2010 and 2009, consisted of 990,850,000 shares of common stock, $1 par value; 400,000 shares of cumulative $4 preferred stock, without par value (stated value
$100 per share); and 8,750,000 shares of serial preferred stock, $1 par value. The serial preferred
stock is issuable in one or more series by the Board of Directors without further shareholder action.
In December 2008, the Company retired 60,000,000 shares of its common stock held in treasury.
The
following is a rollforward of common stock activity for the three years ended December 31, 2010, 2009 and 2008:
Common Stock
In thousands
Issued
Treasury
Balance at January 1, 2008
493,556
68,436
Issuance of stock for various plans, net
0
(3,840
)
Repurchase of stock
0
1,462
Retirement of treasury stock
(60,000
)
(60,000
)
Balance at December 31, 2008
433,556
6,058
Issuance of stock for various plans, net
3,466
(3,484
)
Repurchase of stock
0
1,288
Balance at December 31, 2009
437,022
3,862
Issuance of stock for various plans, net
1,849
(3,796
)
Repurchase of stock
0
1,168
Balance at December 31, 2010
438,871
1,234
NOTE 15 RETIREMENT PLANS
U.S.
DEFINED BENEFIT PLANS
International Paper sponsors and maintains the Retirement Plan of International Paper Company (the
Pension Plan), a tax-qualified defined benefit pension plan that provides retirement benefits to substantially all U.S. salaried employees and hourly employees (receiving salaried benefits) hired prior to July 1, 2004, and
substantially all other U.S. hourly and union employees who work at a participating business unit regardless of hire date. These employees generally are eligible to participate in the Pension Plan upon attaining 21 years of age and completing one
year of eligibility service. U.S. salaried employees
79
and hourly employees (receiving salaried benefits) hired after June 30, 2004, are not eligible to participate in the Pension Plan, but receive a company contribution to their individual
savings plan accounts (see Other U.S. Plans on page 85). The Pension Plan provides defined pension benefits based on years of credited service and either final average earnings (salaried employees and hourly employees receiving salaried
benefits), hourly job rates or specified benefit rates (hourly and union employees).
Former Weyerhaeuser Company salaried and hourly
employees acquired by International Paper in the CBPR acquisition became participants in the Pension Plan if they were hired by Weyerhaeuser prior to July 1, 2004. Acquired salaried employees and hourly employees (receiving salaried benefits)
hired by Weyerhaeuser after June 30, 2004 are not eligible to participate in the Pension Plan and instead receive a company contribution to their savings plan accounts.
In connection with the CBPR acquisition, International Paper assumed sponsorship in 2008 of the Western Kraft, Albany, Oregon, Hourly Employees Retirement Plan, a defined benefit pension plan covering hourly
employees at the Albany, Oregon mill. The assets and liabilities of that plan were merged into the Pension Plan as of December 31, 2009.
The Companys funding policy for the Pension Plan is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that the Company may determine to be appropriate
considering the funded status of the plans, tax deductibility, cash flow generated by the Company, and other factors. The Company continually reassesses the amount and timing of any discretionary contributions. Voluntary contributions totaling $1.15
billion were made by the Company in 2010. No contributions were made in 2009 or 2008.
The Company also has two unfunded nonqualified
defined benefit pension plans: a Pension Restoration Plan available to employees hired prior to July 1, 2004 that provides retirement benefits based on eligible compensation in excess of limits set by the Internal Revenue Service, and a
supplemental retirement plan for senior managers (SERP), which is an alternative retirement plan for salaried employees who are senior vice presidents and above or who are designated by the chief executive officer as participants. These nonqualified
plans are only funded to
the extent of benefits paid, which totaled $37 million, $35 million and $24 million in 2010, 2009 and 2008, respectively, and which are expected to be $36 million in 2011.
Net Periodic Pension Expense
Service cost is the actuarial present value of benefits attributed by the plans benefit formula to services rendered by employees during the
year. Interest cost represents the increase in the projected benefit obligation, which is a discounted amount, due to the passage of time. The expected return on plan assets reflects the computed amount of current-year earnings from the investment
of plan assets using an estimated long-term rate of return.
Net periodic pension expense for qualified and nonqualified U.S. defined
benefit plans comprised the following:
In millions
2010
2009
2008
Service cost
$
116
$
120
$
105
Interest cost
541
537
540
Expected return on plan assets
(631
)
(634
)
(672
)
Actuarial loss
174
160
121
Amortization of prior service cost
31
30
29
Net periodic pension expense (a)
$
231
$
213
$
123
(a)
Excludes $1.1 million in 2008 in curtailment losses, and $83.2 million and $13.9 million in 2009 and 2008, respectively, of termination benefits, in
connection with cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations.
The increase in 2010 pension expense reflects a decrease in the assumed discount rate to 5.80% in 2010 from 6.00% in 2009 and higher amortization
of unrecognized actuarial losses.
International Paper evaluates its actuarial assumptions annually as of December 31 (the
measurement date) and considers changes in these long-term factors based upon market conditions and the requirements for employers accounting for pensions. These assumptions are used to calculate benefit obligations as of December 31 of
the current year and pension expense to be recorded in the following year (i.e., the discount rate used to determine the benefit obligation as of December 31, 2010 was also the discount rate used to determine net pension expense for the 2011
year).
80
Weighted average assumptions used to determine net pension expense for 2010, 2009 and 2008 were as
follows:
2010
2009
2008
Discount rate
5.80
%
6.00
%
6.20
%
Expected long-term rate of return on plan assets
8.25
%
8.25
%
8.50
%
Rate of compensation increase
3.75
%
3.75
%
3.75
%
Weighted average assumptions used to determine benefit obligations as of December 31, 2010 and 2009, were as follows:
2010
2009
Discount rate
5.60
%
5.80
%
Rate of compensation increase
3.75
%
3.75
%
The
expected long-term rate of return on plan assets is based on projected rates of return for current and planned asset classes in the plans investment portfolio. Projected rates of return are developed through an asset/liability study in which
projected returns for each of the plans asset classes are determined after analyzing historical experience and future expectations of returns and volatility of the various asset classes. Based on the target asset allocation for each asset
class, the overall expected rate of return for the portfolio is developed considering the effects of active portfolio management and expenses paid from plan assets. The discount rate assumption was determined based on a yield curve that incorporates
approximately 500 Aa-graded bonds. The plans projected cash flows were then matched to the yield curve to develop the discount rate. To calculate pension expense for 2011, the Company will use an expected long-term rate of return on plan
assets of 8.25%, a discount rate of 5.60% and an assumed rate of compensation increase of 3.75%. The Company estimates that it will record net pension expense of approximately $179 million for its U.S. defined benefit plans in 2011, with the
decrease from expense of $231 million in 2010 reflecting increased plan assets and higher than expected asset returns in 2010, partially offset by a decrease in the discount rate.
The following illustrates the effect on pension expense for 2011 of a 25 basis point decrease in the above assumptions:
In millions
2011
Expense/(Income):
Discount rate
$
29
Expected long-term rate of return on plan assets
22
Rate of compensation increase
(4
)
Investment Policy / Strategy
International Papers Board of Directors has appointed a Fiduciary Review Committee that is responsible for fiduciary oversight of the Pension Plan, approving investment policy and reviewing the management and
control of plan assets. Pension Plan assets are invested to maximize returns within prudent levels of risk. The Pension Plan maintains a strategic asset allocation policy that designates target allocations by asset class. Investments are diversified
across classes and within each class to minimize the risk of large losses. Derivatives, including swaps, forward and futures contracts, may be used as asset class substitutes or for hedging or other risk management purposes. Periodic reviews are
made of investment policy objectives and investment manager performance.
International Papers pension allocations by type of fund
at December 31, and target allocations were as follows:
Asset Class
2010
2009
Target
Allocations
Equity accounts
49
%
49
%
40% - 51%
Fixed income accounts
31
%
32
%
30% - 40%
Real estate accounts
8
%
7
%
7% - 13%
Other
12
%
12
%
9% - 18%
Total
100
%
100
%
The fair values of International
Papers pension plan assets at December 31, 2010 by asset class are shown below. Plan assets included an immaterial amount of International Paper common stock at December 31, 2010. No International Paper shares were included in plan
assets in 2009. Hedge funds disclosed in the following table are allocated equally between equity and fixed income accounts for target allocation purposes. Cash and cash equivalent portfolios are allocated to the types of account from which they
originated. Mortgage backed securities were transferred from significant unobservable inputs (Level 3) in 2009 to significant observable inputs (Level 2) in 2010 as a result of identifying observable market data for the securities.
81
Fair Value Measurement at December 31, 2010
Asset Class
Total
Quoted
Prices
in
Active
Markets
For
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
In millions
Equities - domestic
$
1,921
$
860
$
1,057
$
4
Equities - international
1,317
1,005
312
0
Common collective funds-fixed income
305
0
291
14
Corporate bonds
817
0
817
0
Government securities
936
0
936
0
Mortgage backed securities
194
0
194
0
Other fixed income
30
0
25
5
Commodities
264
0
30
234
Hedge funds
681
0
19
662
Private equity
415
0
0
415
Real estate
650
0
0
650
Derivatives
349
10
1
338
Cash and cash equivalents
465
5
460
0
Total Investments
$
8,344
$
1,880
$
4,142
$
2,322
Equity securities consist primarily of publicly traded U.S. companies and international companies and common collective funds. Publicly traded equities are valued at the closing prices reported in the active market
in which the individual securities are traded. Common collective funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date.
Fixed income consists of corporate bonds, government securities, and common collective funds. Government securities are valued by third-party
pricing sources. Corporate bonds are valued using either the yields currently available on comparable securities of issuers with similar credit ratings or using a discounted cash flows approach that utilizes observable inputs, such as current yields
of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks. Common collective funds are valued at the net asset value per share multiplied by the number of shares held as of the
measurement date.
Commodities consist of commodity-linked notes and commodity-linked derivatives. Commodities are valued at closing
prices determined by calculation agents for outstanding transactions.
Hedge funds are investment structures that pursue a diverse array of investment strategies with a
wide range of different securities and derivative instruments. These investments are made through funds-of-funds (commingled, multi-manager fund structures) and through direct investments in individual hedge funds. Hedge funds are primarily valued
by each funds third party administrator based upon the valuation of the underlying securities and instruments and primarily by applying a market or income valuation methodology as appropriate depending on the specific type of security or
instrument held. Funds-of-funds are valued based upon the net asset values of the underlying investments in hedge funds.
Private equity
consists of interests in partnerships that invest in U.S. and non-U.S. debt and equity securities. Partnership interests are valued using the most recent general partner statement of fair value, updated for any subsequent partnership interest cash
flows.
Real estate includes commercial properties, land and timberland, and generally includes, but is not limited to, retail, office,
industrial, multifamily and hotel properties. Real estate holdings, taken together, are intended to have characteristics similar to, but not necessarily equal to, the National Council of Real Estate Investment Fiduciaries (NCREIF) Property Index.
Real estate fund values are primarily reported by the fund manager and are based on valuation of the underlying investments which include inputs such as cost, discounted cash flows, independent appraisals and market based comparable data.
Derivative investments such as futures, forward contracts, options, and swaps are used to help manage risks. Derivatives are generally
employed as asset class substitutes (such as when employed within a portable alpha strategy), for managing asset/liability mismatches, or bona fide hedging or other appropriate risk management purposes. Derivative instruments are generally valued by
the investment managers or in certain instances by third party pricing sources.
82
The fair value measurements using significant unobservable inputs (Level 3) at December 31,
2010 were as follows:
Fair Value Measurements Using Significant
Unobservable Inputs (Level 3)
In millions
Equities-
Domestic
Equities-
International
Fixed
Income
Common
Collective
Funds
Corporate
Bonds
Government
Securities
Mortgage
Backed
Securities
Other
Fixed
Income
Comm- odities
Hedge
Funds
Private
Equity
Real
Estate
Deriv- atives
Total
Beginning balance at December 31, 2009
$
4
$
1
$
29
$
2
$
3
$
175
$
24
$
174
$
668
$
344
$
457
$
269
$
2,150
Actual return on plan assets:
Relating to assets still held at the reporting date
3
0
0
0
(1
)
0
(3
)
37
33
30
43
68
210
Relating to assets sold during the period
(2
)
0
3
0
0
0
2
0
6
(4
)
0
65
70
Purchases, sales and settlements
(1
)
0
(18
)
(2
)
(2
)
0
(18
)
23
(45
)
45
150
(64
)
68
Transfers in and/or out of Level 3 (a)
0
(1
)
0
0
0
(175
)
0
0
0
0
0
0
(176
)
Ending balance at December 31, 2010
$
4
$
0
$
14
$
0
$
0
$
0
$
5
$
234
$
662
$
415
$
650
$
338
$
2,322
(a)
Transferred out of Level 3 to Level 2 because market data for these securities was observable.
At December 31, 2010, projected future pension benefit payments, excluding any termination
benefits, were as follows:
In millions
2011
$
628
2012
622
2013
624
2014
630
2015
639
2016 2020
3,348
Pension
Plan Asset / Liability
As required by ASC 715, Compensation Retirement Benefits, the pension plan funded
status must be recorded on the consolidated balance sheet. Therefore, pension plan gains or losses and prior service costs not yet recognized in net periodic cost are recognized on a net-of-tax basis in OCI. These amounts will be subject to
amortization in the future.
At December 31, 2010, the fair value of plan assets for the Pension Plan was less than the projected benefit obligation (PBO). However, the deficit was lower than at December 31, 2009,
resulting in a decrease in the recorded minimum pension obligation of $1.3 billion and an after-tax credit to OCI of $92 million. An after-tax credit to OCI of $318 million and an after-tax charge to OCI of $1.8 billion had been recorded for 2009
and 2008, respectively. For the unfunded nonqualified plans, changes in the liabilities resulted in after-tax charges to OCI of $19 million, $9 million and $5 million in 2010, 2009 and 2008, respectively. In 2008, in conjunction with the CBPR
business acquisition, the Company acquired a small overfunded pension plan covering hourly employees at the Albany, Oregon mill. For this plan, the Company recorded an after-tax charge to OCI of $13 million at December 31, 2008.
The accumulated benefit obligation for all defined benefit plans was $9.6 billion and $9.3 billion at December 31, 2010 and 2009,
respectively.
83
The following table summarizes information for pension plans with an accumulated benefit obligation
in excess of plan assets at December 31, 2010 and 2009.
In millions
2010
2009
Projected benefit obligation
$
9,824
$
9,544
Accumulated benefit obligation
9,594
9,312
Fair value of plan assets
8,344
6,784
Unrecognized Actuarial Losses
ASC
715, Compensation Retirement Benefits provides for delayed recognition of actuarial gains and losses, including amounts arising from changes in the estimated projected plan benefit obligation due to changes in the assumed discount
rate, differences between the actual and expected return on plan assets and other assumption changes. These net gains and losses are recognized prospectively over a period that approximates the average remaining service period of active employees
expected to receive benefits under the plans (approximately 9 years as of December 31, 2010) to the extent that they are not offset by gains in subsequent years. The estimated net loss and prior service cost that will be amortized from AOCI
into net periodic pension cost during the next fiscal year are expected to be $204 million and $31 million, respectively.
The following
table shows the changes in the benefit obligation and plan assets for 2010 and 2009, and the plans funded status. The benefit obligation as of December 31, 2010 increased by $281 million, principally as a result of a decrease in the
discount rate assumption used in computing the estimated benefit obligation. Plan assets increased by $1.6 billion, reflecting favorable investment results and the $1.15 billion voluntary contribution.
In millions
2010
2009
Change in projected benefit obligation:
Benefit obligation, January 1
$
9,544
$
9,275
Service cost
116
120
Interest cost
541
537
Actuarial loss
264
134
Benefits paid
(646
)
(617
)
Restructuring
(2
)
2
Special termination benefits
0
83
Plan amendments
7
10
Benefit obligation, December 31
$
9,824
$
9,544
Change in plan assets:
Fair value of plan assets, January 1
$
6,784
$
6,079
Actual return on plan assets
1,019
1,287
Company contributions
1,187
35
Benefits paid
(646
)
(617
)
Fair value of plan assets, December 31
$
8,344
$
6,784
Funded status, December 31
$
(1,480
)
$
(2,760
)
In millions
2010
2009
Amounts recognized in the consolidated balance sheet:
Current liability
$
(36
)
$
(41
)
Non-current liability
(1,444
)
(2,719
)
$
(1,480
)
$
(2,760
)
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):
Net actuarial loss
$
3,412
$
3,712
Prior service cost
183
206
$
3,595
$
3,918
The components of the $323 million decrease in the amounts recognized in OCI during 2010 consisted of:
In millions
Curtailment effects
$
(2
)
Current year actuarial gain
(123
)
Amortization of actuarial loss
(174
)
Current year prior service cost
7
Amortization of prior service cost
(31
)
$
(323
)
The portion of the change in the funded status that was recognized either in net periodic benefit costs or OCI was $(92) million, $(483) million
and $3 billion for 2010, 2009 and 2008, respectively.
NON-U.S. DEFINED BENEFIT PLANS
Generally, International Papers non-U.S. pension plans are funded using the projected benefit as a target, except in certain countries where
funding of benefit plans is not required. Net periodic pension expense for non-U.S. plans was as follows:
In millions
2010
2009
2008
Service cost
$
3
$
4
$
7
Interest cost
12
12
11
Expected return on plan assets
(11
)
(10
)
(13
)
Actuarial gain
0
(2
)
(1
)
Curtailment gain
(2
)
(1
)
0
Settlement gain
(2
)
0
0
Net periodic pension expense
$
0
$
3
$
4
Weighted average assumptions used to determine net pension expense for 2010, 2009 and 2008 were as follows:
2010
2009
2008
Discount rate
6.45%
6.37%
6.40%
Expected long-term rate of return on plan assets
8.20%
8.88%
8.87%
Rate of compensation increase
4.06%
3.81%
3.55%
Weighted average assumptions used to determine benefit obligations as of December 31, 2010 and 2009, were as follows:
2010
2009
Discount rate
6.01
%
6.45
%
Rate of compensation increase
3.07
%
4.06
%
84
The following table shows the changes in the benefit obligation and plan assets for 2010 and 2009,
and the plans funded status as of December 31, 2010 and 2009.
In millions
2010
2009
Change in projected benefit obligation:
Benefit obligation, January 1
$
186
$
168
Service cost
3
4
Interest cost
12
12
Curtailments
(3
)
(5
)
Settlements
(14
)
0
Actuarial loss
11
0
Benefits paid
(7
)
(12
)
Effect of foreign currency exchange rate movements
(5
)
19
Benefit obligation, December 31
$
183
$
186
Change in plan assets:
Fair value of plan assets, January 1
$
150
$
115
Actual return on plan assets
21
20
Company contributions
8
7
Benefits paid
(7
)
(12
)
Settlements
(14
)
0
Effect of foreign currency exchange rate movements
(2
)
20
Fair value of plan assets, December 31
$
156
$
150
Funded status, December 31
$
(27
)
$
(36
)
Amounts recognized in the consolidated balance sheet:
Non-current asset
$
13
$
12
Current liability
(2
)
(2
)
Non-current liability
(38
)
(46
)
$
(27
)
$
(36
)
Amounts recognized in accumulated other comprehensive income (pre-tax):
Prior service cost
$
0
$
0
Net actuarial loss (gain)
1
(1
)
$
1
$
(1
)
The
components of the $2 million increase in the amounts recognized in OCI during 2010 consisted of:
In millions
Current year actuarial loss
$
1
Curtailment effects
(1
)
Settlements
2
$
2
The portion of the change in the funded status that was recognized in either net periodic benefit cost or OCI was $1 million, $(11) million and $40 million for 2010, 2009 and 2008, respectively.
For non-U.S. plans with accumulated benefit obligations in excess of plan assets, the projected
benefit obligations, accumulated benefit obligations and fair values of plan assets totaled $42 million, $34 million and $2 million, respectively, at December 31, 2010. Plan assets consist principally of common stock and fixed income
securities.
OTHER U.S. PLANS
International Paper sponsors the International Paper Company Salaried Savings Plan and the International Paper Company Hourly Savings Plan, both of
which are tax-qualified defined contribution 401(k) savings plans. Substantially all U.S. salaried and certain hourly employees are eligible to participate and may make elective deferrals to such plans to save for retirement. International Paper
makes matching contributions to participant accounts on a specified percentage of employee deferrals as determined by the provisions of each plan. For eligible employees hired after June 30, 2004, the Company makes Retirement Savings Account
contributions equal to a percentage of an eligible employees pay. From February 1, 2009 to December 31, 2010, matching contributions to the International Paper Salaried Savings Plan were made in Company stock. Beginning in January
2011, matching contributions to the International Paper Salaried Savings Plan will be made in the form of cash contributions.
The
Company also sponsors the International Paper Company Deferred Compensation Savings Plan, which is an unfunded nonqualified defined contribution plan. This plan permits eligible employees to continue to make deferrals and receive company matching
contributions when their contributions to the International Paper Salaried Savings Plan are stopped due to limitations under U.S. tax law. Participant deferrals and company matching contributions are not invested in a separate trust, but are paid
directly from International Papers general assets at the time benefits become due and payable.
Company matching contributions to
the plans totaled approximately $87 million, $121 million and $80 million for the plan years ending in 2010, 2009 and 2008, respectively.
85
NOTE 16 POSTRETIREMENT BENEFITS
U.S. POSTRETIREMENT BENEFITS
International
Paper provides certain retiree health care and life insurance benefits covering certain U.S. salaried and hourly employees. These employees are generally eligible for benefits upon retirement and completion of a specified number of years of
creditable service. Excluded from company-provided medical benefits are salaried employees whose age plus years of employment with the Company totaled less than 60 as of January 1, 2004. International Paper does not fund these benefits prior to
payment and has the right to modify or terminate certain of these plans in the future.
The components of postretirement benefit expense
in 2010, 2009 and 2008, were as follows:
In millions
2010
2009
2008
Service cost
$
2
$
2
$
3
Interest cost
23
31
34
Actuarial loss
12
23
29
Amortization of prior service credits
(31
)
(29
)
(38
)
Net postretirement benefit expense (a)
$
6
$
27
$
28
(a)
Excludes $0.8 million of curtailment gains in 2008 and $2.8 million and $0.5 million of termination benefits in 2009 and 2008, respectively, related to
cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations.
International Paper evaluates its actuarial assumptions annually as of December 31 (the measurement date) and considers changes in these long-term factors based upon market conditions and the requirements of
employers accounting for postretirement benefits other than pensions.
The discount rates used to determine net cost for the years
ended December 31, 2010, 2009 and 2008 were as follows:
2010
2009
2008
Discount rate
5.40
%
5.90
%
5.90
%
The
weighted average assumptions used to determine the benefit obligation at December 31, 2010 and 2009 were as follows:
2010
2009
Discount rate
5.30
%
5.40
%
Health care cost trend rate assumed for next year
8.50
%
9.00
%
Rate that the cost trend rate gradually declines to
5.00
%
5.00
%
Year that the rate reaches the rate it is assumed to remain
2017
2017
A 1% increase in the assumed annual health care cost trend rate would have increased the accumulated
postretirement benefit obligation at December 31, 2010 by approximately $12 million. A 1% decrease in the annual trend rate would have decreased the accumulated postretirement benefit obligation at December 31, 2010 by approximately $11
million. The effect on net postretirement benefit cost from a 1% increase or decrease would be approximately $1 million.
The plan is
only funded in an amount equal to benefits paid. The following table presents the changes in benefit obligation and plan assets for 2010 and 2009:
In millions
2010
2009
Change in projected benefit obligation:
Benefit obligation, January 1
$
473
$
596
Service cost
2
2
Interest cost
23
31
Participants contributions
48
47
Actuarial gain
(21
)
(67
)
Benefits paid
(110
)
(114
)
Less: Federal subsidy
10
11
Plan amendments
0
(40
)
Curtailment
0
4
Special termination benefits
0
3
Benefit obligation, December 31
$
425
$
473
Change in plan assets:
Fair value of plan assets, January 1
$
0
$
0
Company contributions
62
67
Participants contributions
48
47
Benefits paid
(110
)
(114
)
Fair value of plan assets, December 31
$
0
$
0
Funded status, December 31
$
(425
)
$
(473
)
Amounts recognized in the consolidated balance sheet under ASC 715:
Current liability
$
(48
)
$
(46
)
Non-current liability
(377
)
(427
)
$
(425
)
$
(473
)
Amounts recognized in accumulated other comprehensive income under ASC 715: (pre-tax):
Net actuarial loss
$
66
$
99
Prior service credit
(60
)
(91
)
$
6
$
8
The non-current portion of the liability is included with the postemployment liability in the accompanying consolidated balance sheet under
Postretirement and postemployment benefit obligation. In accordance with guidance under ASC 715, after-tax credits of $13 million and $41 million were recorded as of December 31, 2010 and 2009, respectively, to adjust the funded status of the
plan.
86
The components of the $2 million decrease in the amounts recognized in OCI during 2010 consisted of:
In millions
Current year actuarial gain
$
(21
)
Amortization of actuarial loss
(12
)
Amortization of prior service credit
31
$
(2
)
The portion of the change in the funded status that was recognized in either net periodic benefit cost or OCI was $5 million, $(70) million and $10
million in 2010, 2009 and 2008, respectively.
The estimated amounts of net loss and prior service credit that will be amortized from
OCI into net postretirement benefit cost in 2011 are expected to be $8 million and $25 million, respectively.
At December 31,
2010, estimated total future postretirement benefit payments, net of participant contributions and estimated future Medicare Part D subsidy receipts, were as follows:
In millions
Benefit
Payments
Subsidy
Receipts
2011
$
59
$
11
2012
55
12
2013
52
11
2014
49
11
2015
47
10
2016 2020
199
37
NON-U.S.
POSTRETIREMENT BENEFITS
In addition to the U.S. plan, certain Canadian, Brazilian and Moroccan employees are eligible for retiree
health care and life insurance benefits. Net postretirement benefit cost for our non-U.S. plans was $1 million for 2010, $3 million for 2009 and $3 million for 2008. The benefit obligation for these plans was $24 million in 2010, $18 million in 2009
and $19 million in 2008.
NOTE 17 INCENTIVE PLANS
International Paper currently has an Incentive Compensation Plan (ICP) which, upon the approval by the Companys shareholders in May 2009, replaced the Companys Long-Term Incentive Compensation Plan
(LTICP). The ICP authorizes grants of restricted stock, restricted or deferred stock units, performance awards payable in cash or stock upon the attainment of specified performance goals, dividend equivalents, stock options, stock appreciation
rights, other
stock-based awards, and cash-based awards at the discretion of the Management Development and Compensation Committee of the Board of Directors (the Committee) that administers the ICP.
Additionally, stock appreciation rights (SARs) have been awarded to employees of a non-U.S. subsidiary, with 3,070 and 3,310 rights outstanding at December 31, 2010 and 2009, respectively. Restricted stock units (RSUs) were also
awarded to certain non-U.S. employees with 26,150 and 44,100 units outstanding at December 31, 2010 and 2009, respectively. Additionally, restricted stock, which may be deferred into RSUs, may be awarded under a Restricted Stock and
Deferred Compensation Plan for Non-Employee Directors.
STOCK OPTION PROGRAM
International Paper accounts for stock options in accordance with guidance under ASC 718, Compensation Stock Compensation.
Compensation expense is recorded over the related service period based on the grant-date fair market value. Since all outstanding options were vested as of July 14, 2005, only replacement option grants are expensed. No replacement options were
granted in 2008, 2009 or 2010.
During each reporting period, diluted earnings per share is calculated by assuming that
in-the-money options are exercised and the exercise proceeds are used to repurchase shares in the marketplace. When options are actually exercised, option proceeds are credited to equity and issued shares are included in the computation
of earnings per common share, with no effect on reported earnings. Equity is also increased by the tax benefit that International Paper will receive in its tax return for income reported by the optionees in their individual tax returns.
Under the program, upon exercise of an option, a replacement option may be granted under certain circumstances with an exercise price equal to the
market price at the time of exercise and with a term extending to the expiration date of the original option.
The Company has
discontinued the issuance of stock options for all eligible U.S. and non-U.S. employees. In the United States, the stock option program was replaced with a performance-based restricted share program to more closely tie long-term incentive
compensation to Company performance on two key performance drivers: return on investment (ROI) and total shareholder return (TSR).
87
The following summarizes the status of the Stock Option Program and the changes during the three
years ending December 31, 2010:
Options
(a,b)
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Life
(years)
Aggregate
Intrinsic
Value
(thousands)
Outstanding at December 31, 2007
28,013,735
$
39.81
4.40
$
1,115
Granted
0
0
Exercised
(14,800
)
31.55
Forfeited
(189,158
)
43.44
Expired
(2,716,655
)
40.83
Outstanding at December 31, 2008
25,093,122
39.68
3.66
0
Granted
0
0
Exercised
0
0
Forfeited
(558,470
)
44.40
Expired
(2,317,595
)
42.74
Outstanding at December 31, 2009
22,217,057
39.24
2.73
0
Granted
0
0
Exercised
0
0
Forfeited
(43,068
)
34.36
Expired
(3,928,736
)
46.29
Outstanding at
December 31,
2010
18,245,253
$
37.73
2.30
$
0
(a)
The table does not include Continuity Award tandem stock options described below. No fair market value is assigned to these options under ASC 718. The
tandem restricted shares accompanying these options are expensed over their vesting period.
(b)
The table includes options outstanding under an acquired company plan under which options may no longer be granted.
PERFORMANCE-BASED RESTRICTED SHARES
Under
the Performance Share Program (PSP), contingent awards of International Paper common stock are granted by the Committee. The PSP awards are earned over a three-year period. One-fourth of the award is earned during each twelve-month period, with the
final one-fourth segment earned over the full three-year period. PSP awards are earned based on the achievement of defined performance rankings of ROI and TSR compared to ROI and TSR peer groups of companies. Awards are weighted 75% for ROI and 25%
for TSR for all participants except for officers for whom the awards are weighted 50% for ROI and 50% for TSR. The ROI component of the PSP awards is valued at the closing stock price on the day prior to the grant date. As the ROI component contains
a performance condition, compensation expense, net of estimated forfeitures, is recorded over the requisite service period based on the most probable number of awards expected to vest. The
TSR component of the PSP awards is valued using a Monte Carlo simulation as the TSR component contains a market condition. The Monte Carlo simulation estimates the fair value of the TSR component
based on the expected term of the award, a risk-free rate, expected dividends, and the expected volatility for the Company and its competitors. The expected term is estimated based on the vesting period of the awards, the risk-free rate is based on
the yield on U.S. Treasury securities matching the vesting period, the expected dividends are assumed to be zero for all companies, and the volatility is based on the Companys historical volatility over the expected term.
PSP awards issued to certain members of senior management are accounted for as liability awards, which are remeasured at fair value at each balance
sheet date. The valuation of these PSP liability awards is computed based on the same methodology as the PSP equity awards.
The
following table sets forth the assumptions used to determine compensation cost for the market condition component of the PSP plan:
Twelve Months Ended
December 31, 2010
Expected volatility
33.83% - 62.33%
Risk-free interest rate
0.26% -1.49%
The
following summarizes PSP activity for the three years ending December 31, 2010:
Shares
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2007
6,217,012
$
35.67
Granted
3,984,146
36.26
Shares issued
(3,639,012
)
41.54
Forfeited
(307,890
)
34.50
Outstanding at December 31, 2008
6,254,256
32.69
Granted
4,102,197
19.10
Shares issued
(3,576,109
)
33.21
Forfeited
(714,294
)
23.41
Outstanding at December 31, 2009
6,066,050
24.28
Granted
3,842,626
28.93
Shares issued (a)
(2,807,388
)
33.25
Forfeited
(288,694
)
21.83
Outstanding at December 31, 2010
6,812,594
$
23.31
(a)
Includes 165,127 shares related to retirements or terminations that are held for payout until the end of the performance period.
88
EXECUTIVE CONTINUITY AND RESTRICTED STOCK AWARD PROGRAMS
The Executive Continuity Award program provides for the granting of tandem awards of restricted stock and/or nonqualified stock options to key
executives. Grants are restricted and awards conditioned on attainment of a specified age. The awarding of a tandem stock option results in the cancellation of the related restricted shares.
The service-based Restricted Stock Award program (RSA), designed for recruitment, retention and special recognition purposes, also provides for
awards of restricted stock to key employees.
The following summarizes the activity of the Executive Continuity Award program and RSA
program for the three years ending December 31, 2010:
Shares
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2007
122,625
$
37.18
Granted
18,000
28.34
Shares issued
(35,625
)
38.91
Forfeited
(3,000
)
33.70
Outstanding at December 31, 2008
102,000
35.11
Granted
5,000
11.80
Shares issued
(4,000
)
28.74
Forfeited
(20,000
)
35.49
Outstanding at December 31, 2009
83,000
33.93
Granted
177,000
25.63
Shares issued
(92,500
)
30.69
Forfeited
0
0
Outstanding at December 31, 2010
167,500
$
26.95
At December 31, 2010, 2009 and 2008 a total of 18.8 million, 17.4 million and 28.1 million shares, respectively, were available for grant under the ICP.
Total stock-based compensation cost recognized in Selling and administrative expense in the accompanying consolidated statement of operations for
the years ended December 31, 2010, 2009 and 2008 was $73 million, $100 million and $66 million, respectively. The actual tax deduction realized for stock-based compensation costs related to non-qualified stock options was $0 for both of the
years ended December 31, 2010 and 2009, and $19,000 for the year ended December 31, 2008. The actual tax deduction realized for stock-based compensation costs related to restricted and performance shares was $75 million, $28 million and
$130 million for the years ended December 31, 2010,
2009 and 2008, respectively. At December 31, 2010, $62.8 million of compensation cost, net of estimated forfeitures, related to unvested restricted performance shares, executive continuity
awards and restricted stock attributable to future performance had not yet been recognized. This amount will be recognized in expense over a weighted-average period of 1.5 years.
NOTE 18 FINANCIAL INFORMATION BY INDUSTRY SEGMENT AND GEOGRAPHIC AREA
International Papers industry segments, Industrial Packaging, Printing Papers, Consumer Packaging, Distribution and Forest Products, are
consistent with the internal structure used to manage these businesses. Beginning on January 1, 2011, the Forest Products Business will no longer be reported by the Company as a separate industry segment due to the immateriality of the results
of the remaining business on the Companys consolidated financial statements. All segments are differentiated on a common product, common customer basis consistent with the business segmentation generally used in the Forest Products industry.
For management purposes, International Paper reports the operating performance of each business based on earnings before interest and
income taxes (EBIT) excluding special and extraordinary items, gains or losses on sales of businesses and cumulative effects of accounting changes. Intersegment sales and transfers are recorded at current market prices.
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 Papers consolidated group, whereas sales by segment in the Net Sales table are determined using a management approach and include intersegment sales.
The Company also holds a 50% interest in Ilim that is a separate reportable industry segment. The Company recorded equity earnings, net of taxes,
of $55 million in 2010, equity losses, net of taxes, of $50 million in 2009 and equity earnings, net of taxes, of $54 million in 2008 for Ilim.
89
INFORMATION BY INDUSTRY SEGMENT
Net Sales
In millions
2010
2009
2008
Industrial Packaging
$
9,840
$
8,890
$
7,690
Printing Papers
5,940
5,680
6,810
Consumer Packaging
3,400
3,060
3,195
Distribution
6,735
6,525
7,970
Forest Products
220
45
200
Corporate and Intersegment Sales
(956
)
(834
)
(1,036
)
Net sales
$
25,179
$
23,366
$
24,829
Operating
Profit
In millions
2010
2009
2008
Industrial Packaging
$
826
$
761
$
390
Printing Papers
481
1,091
474
Consumer Packaging
207
433
17
Distribution
78
50
103
Forest Products
94
25
409
Operating Profit
1,686
2,360
1,393
Interest expense, net
(608
)
(669
)
(492
)
Noncontrolling interests / equity earnings adjustment (b)
15
23
(2
)
Corporate items, net
(226
)
(181
)
(103
)
Restructuring and other charges
(70
)
(333
)
(179
)
Gain on sale of forestlands
0
0
6
Impairments of goodwill
0
0
(1,777
)
Net gains (losses) on sales and impairments of businesses
25
(1
)
1
Earnings (Loss) From Continuing Operations Before Income Taxes and Equity
Earnings
$
822
$
1,199
$
(1,153
)
Restructuring
and Other Charges
In millions
2010
2009
2008
Industrial Packaging
$
19
$
684
$
8
Printing Papers
315
257
153
Consumer Packaging
8
74
30
Distribution
0
5
0
Forest Products
0
0
0
Corporate
52
333
179
Restructuring and Other Charges
$
394
$
1,353
$
370
Assets
In millions
2010
2009
2008
Industrial Packaging
$
9,353
$
9,120
$
10,212
Printing Papers
7,449
7,791
7,396
Consumer Packaging
3,025
3,000
3,333
Distribution
1,761
1,692
1,881
Forest Products
627
758
903
Specialty Businesses and Other (a)
0
0
8
Corporate and other (c)
3,153
3,187
3,180
Assets
$
25,368
$
25,548
$
26,913
Capital Spending
In millions
2010
2009
2008
Industrial Packaging
$
301
$
183
$
282
Printing Papers
283
218
383
Consumer Packaging
159
126
287
Distribution
5
6
9
Forest Products
3
1
2
Subtotal
751
534
963
Corporate and other
24
0
39
Total from Continuing Operations
$
775
$
534
$
1,002
Depreciation and Amortization (d)
In millions
2010
2009
2008
Industrial Packaging
$
597
$
678
$
452
Printing Papers
479
447
517
Consumer Packaging
228
210
218
Distribution
13
14
17
Forest Products
5
6
7
Corporate
134
117
136
Depreciation and Amortization
$
1,456
$
1,472
$
1,347
External
Sales By Major Product
In millions
2010
2009
2008
Industrial Packaging
$
9,812
$
8,813
$
7,465
Printing Papers
5,220
5,114
6,407
Consumer Packaging
3,241
2,911
2,982
Distribution
6,683
6,486
7,928
Forest Products
223
42
47
Net Sales
$
25,179
$
23,366
$
24,829
INFORMATION BY
GEOGRAPHIC AREA
Net Sales (e)
In millions
2010
2009
2008
United States (f)
$
19,501
$
18,355
$
19,501
Europe
2,839
2,716
3,177
Pacific Rim
1,377
1,002
827
Americas, other than U.S.
1,462
1,293
1,324
Net Sales
$
25,179
$
23,366
$
24,829
Long-Lived
Assets (g)
In millions
2010
2009
2008
United States
$
8,866
$
9,626
$
11,336
Europe
1,047
1,123
1,215
Pacific Rim
468
369
386
Americas, other than U.S.
2,162
2,117
1,599
Corporate
206
210
260
Long-Lived Assets
$
12,749
$
13,445
$
14,796
90
(a)
Includes Arizona Chemical and certain other smaller businesses identified in the Companys divestiture program.
(b)
Operating profits for industry segments include each segments percentage share of the profits of subsidiaries included in that segment that are less
than wholly-owned. The pre-tax noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings.
(c)
Includes corporate assets and assets of businesses held for sale.
(d)
Includes cost of timber harvested; excludes accelerated depreciation related to closure of mills.
(e)
Net sales are attributed to countries based on the location of the seller.
(f)
Export sales to unaffiliated customers were $1.8 billion in 2010, $1.4 billion in 2009 and $1.6 billion in 2008.
(g)
Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net.
NOTE 19 SUBSEQUENT EVENT
The sale of the Companys Kraft Papers business that closed in January 2007 contained an earnout provision that could potentially require KapStone to make an additional payment to International Paper in 2012.
Based on the results through the first four years of the earnout period, KapStone concluded that the threshold would be attained and the full earnout payment would be due to International Paper in 2012. On January 3, 2011, International Paper
signed an agreement with KapStone to allow KapStone to pay the Company on January 4, 2011, the discounted amount of $50 million that otherwise would have been owed in full under the agreement in 2012.
91
INTERIM FINANCIAL RESULTS (UNAUDITED)
In millions, except per share amounts and stock prices
1 st
Quarter
2 nd
Quarter
3 rd
Quarter
4 th
Quarter
Year
2010
Net sales
$
5,807
$
6,121
$
6,720
$
6,531
$
25,179
Gross margin (a)
1,343
1,631
1,962
1,761
6,697
Earnings (loss) from continuing operations before income taxes and equity earnings
(175
)(b)
118
(d)
547
332
(e)
822
(b,d,e)
Net earnings (loss) attributable to International Paper Company
(162
)(b,c)
93
(d)
397
316
(e,f)
644
(b-f)
Basic earnings (loss) per share attributable to International Paper Company common shareholders
$
(0.38
)(b,c)
$
0.22
(d)
$
0.92
$
0.74
(e,f)
$
1.50
(b-f)
Diluted earnings (loss) per share attributable to International Paper Company common shareholders
(0.38
)(b,c)
0.21
(d)
0.91
0.73
(e,f)
1.48
(b-f)
Dividends per share of common stock
0.025
0.125
0.125
0.125
0.400
Common stock prices
High
$
28.61
$
29.25
$
25.79
$
27.50
$
29.25
Low
21.66
20.50
19.33
21.44
19.33
2009
Net sales
$
5,668
$
5,802
$
5,919
$
5,977
$
23,366
Gross margin (a)
1,937
2,021
2,161
2,027
8,146
Earnings (loss) from continuing operations before income taxes and
equity earnings
518
(g)
520
(h)
589
(j)
(428
)(k)
1,199
(g,h,j,k)
Net earnings (loss) attributable to International Paper Company
257
(g)
136
(h,i)
371
(j)
(101
)(k,l)
663
(g-l)
Basic earnings (loss) per share attributable to International Paper Company common shareholders
$
0.61
(g)
$
0.32
(h,i)
$
0.87
(j)
$
(0.24
)(k,l)
$
1.56
(g-l)
Diluted earnings (loss) per share attributable to International Paper Company common shareholders
0.61
(g)
0.32
(h,i)
0.87
(j)
(0.24
)(k,l)
1.55
(g-l)
Dividends per share of common stock
0.25
0.025
0.025
0.025
0.325
Common stock prices
High
$
12.74
$
15.96
$
25.30
$
27.79
$
27.79
Low
3.93
6.80
13.82
20.38
3.93
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.
Footnotes to Interim Financial Results
(a)
Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested.
(b)
Includes a pre-tax charge of $204 million ($124 million after taxes) for shutdown costs related to the Franklin, Virginia mill
(including $190 million of accelerated depreciation), a pre-tax charge of $4 million ($2 million after taxes) for early debt extinguishment costs, a pre-tax charge of $3 million ($2 million after
taxes) for costs associated with the reorganization of the Companys Shorewood operations and charges of $4 million, before and after taxes, for other items.
(c)
Includes after-tax charges of $14 million and $32 million for tax adjustments related to incentive compensation and postretirement prescription drug coverage,
respectively.
92
(d)
Includes a pre-tax charge of $111 million ($68 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $46 million of
accelerated depreciation and $36 million of environmental closure costs), a pre-tax charge of $18 million ($11 million after taxes) for early debt extinguishment costs, a pre-tax charge of $11 million ($7 million after taxes) for an Ohio Commercial
Activity tax adjustment and charges of $4 million ($2 million after taxes) for other items.
(e)
Includes a pre-tax charge of $18 million ($11 million after taxes) for an environmental reserve related to the Companys property in Cass Lake,
Minnesota, a pre-tax charge of $12 million ($7 million after taxes) for closure costs related to the Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $13 million ($8 million after taxes) for early debt
extinguishment costs, a pre-tax charge of $5 million ($3 million after taxes) for severance and benefit costs associated with the Companys S&A reduction initiative, a pre-tax charge of $4 million ($3 million after taxes) for costs
associated with the reorganization of the Companys Shorewood operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the shutdown of three box plants in Asia, a pre-tax gain of $25 million ($15 million
after taxes) related to the partial redemption of the Companys interest in Arizona Chemical, a charge of $2 million, before and after taxes, for asset impairment costs associated with the Inverurie, Scotland mill which was closed in 2009 and a
net pre-tax gain of $2 million ($1 million after taxes) for other items.
(f)
Includes a tax benefit of $40 million related to cellulosic bio-fuel tax credits.
(g)
Includes a pre-tax gain of $540 million ($330 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $36 million ($22 million
after taxes) for integration costs associated with the Containerboard, Packaging and Recycling business (CBPR) acquired in August 2008, a pre-tax charge of $52 million ($32 million after taxes) for severance
and benefit costs associated with the Companys 2008 overhead cost reduction initiative, a pre-tax charge of $23 million ($28 million after taxes) for closure costs associated with the
Inverurie, Scotland mill, a pre-tax charge of $6 million ($4 million after taxes) for shutdown costs associated with the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center, and a pre-tax charge of $2 million ($1
million after taxes) for shutdown costs associated with the reorganization of the Companys Shorewood operations.
(h)
Includes a pre-tax gain of $482 million ($294 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million
after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $34 million ($21 million after taxes) for severance and benefit costs associated with the Companys 2008 overhead cost reduction initiative, a pre-tax
charge of $25 million ($16 million after taxes) for early debt extinguishment costs, a charge of $15 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge
of $48 million, before and after taxes, to write down the assets of the Etienne mill to estimated fair value and a pre-tax charge of $5 million ($3 million after taxes) for other items.
(i)
Includes a $156 million tax expense for the write-off of deferred tax assets in France and a $26 million tax benefit related to the settlement of the 2004 and
2005 U.S. federal income tax audit and related income tax effects.
(j)
Includes a pre-tax gain of $525 million ($320 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million
after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $39 million ($24 million after taxes) for severance and benefit costs associated with the Companys 2008 overhead cost reduction initiative, a pre-tax
charge of $102 million ($62 million after taxes) for early debt
93
extinguishment costs, a charge of $7 million, before and after taxes, for costs associated with the planned closure of the Etienne mill in France, and a pre-tax charge of $3 million ($2 million
after taxes) for other items.
(k)
Includes a pre-tax gain of $516 million ($469 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $15 million ($10 million
after taxes) for integration costs associated with the CBPR acquisition, pre-tax charges of $469 million ($286 million after taxes), $290 million ($177 million after taxes) and $102 million ($62 million after taxes) for shutdown costs for the
Albany, Oregon, Franklin, Virginia, and Pineville, Louisiana mills, respectively, a pre-tax charge of $82 million ($50 million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $23
million ($15 million after taxes) for
sev-
erance and benefit costs associated with the Companys 2008 overhead cost reduction initiative, a pre-tax charge of $58 million ($35 million after taxes) for early debt extinguishment costs,
a charge of $9 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $8 million to write down the assets at the Etienne mill to estimated fair value,
pre-tax charges of $5 million ($3 million after taxes) and $2 million ($1 million after taxes) for costs associated with the reorganization of the Companys xpedx and Shorewood operations, respectively, and a pre-tax charge of $3 million ($0
million after taxes) for other items.
(l)
Includes a $15 million write-off of a deferred tax asset for a recycling tax credit in the state of Louisiana.
94
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
EVALUATION OF CONTROLS AND PROCEDURES:
As of December 31, 2010, an evaluation was carried out under the supervision and with the participation of the Companys management,
including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures, as defined by Rule 13a-15 under the Securities Exchange Act. Based upon this evaluation, our Chief Executive Officer
and Chief Financial Officer have concluded that the Companys disclosure controls and procedures as defined by Rule 13a-15(e) under the Securities Exchange Act were effective as of December 31, 2010.
MANAGEMENTS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Our management is responsible for establishing and maintaining adequate internal controls over our financial reporting. Internal controls over financial reporting is the process designed by, or under the
supervision, of our principal executive officer and principal financial officer, and effected by our Board of Directors, management and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States (GAAP). Our internal control over financial reporting includes those policies and procedures that:
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;
provide reasonable assurance that transactions are recorded as necessary to allow for the preparation of financial statements in accordance with GAAP, and
that our receipts and expenditures are being made only in accordance with authorizations of our management and directors;
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material
effect on our consolidated financial statements; and
provide reasonable assurance as to the detection of fraud.
All internal control systems have inherent limitations, including the possibility of circumvention and overriding of controls, and therefore can provide only reasonable assurance of achieving the designed control
objectives. The Companys internal control system is supported by written policies and procedures, contains self-monitoring mechanisms, and is audited by the internal audit function. Appropriate actions are taken by management to correct
deficiencies as they are identified.
As of December 31, 2010, management has assessed the effectiveness of the Companys
internal control over financial reporting. In a report included on pages 48 and 49, management concluded that the Companys internal control over financial reporting was effective as of December 31, 2010.
In making this assessment, we used the criteria described in Internal Control Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission.
Our independent registered public accounting firm, Deloitte & Touche LLP,
with direct access to our Board of Directors through our Audit and Finance Committee, has audited the consolidated financial statements prepared by us. Their report on the consolidated financial statements is included in Part II, Item 8.
Financial Statements and Supplementary Data. Deloitte & Touche LLP has issued an attestation report on our internal controls over financial reporting.
MANAGEMENTS PROCESS TO ASSESS THE EFFECTIVENESS OF INTERNAL CONTROL OVER FINANCIAL REPORTING
To comply with the requirements of Section 404 of the Sarbanes-Oxley Act of 2002, we followed a comprehensive compliance process across the enterprise to evaluate our internal control over financial reporting,
engaging employees at all levels of the organization. Our internal control environment includes an enterprise-wide attitude of integrity and
95
control consciousness that establishes a positive tone at the top. This is exemplified by our ethics program that includes long-standing principles and policies on ethical business
conduct that require employees to maintain the highest ethical and legal standards in the conduct of our business, which have been distributed to all employees; a toll-free telephone helpline whereby any employee may report suspected violations of
law or our policy; and an office of ethics and business practice. The internal control system further includes careful selection and training of supervisory and management personnel, appropriate delegation of authority and division of
responsibility, dissemination of accounting and business policies throughout the Company, and an extensive program of internal audits with management follow-up. Our Board of Directors, assisted by the Audit and Finance Committee, monitors the
integrity of our financial statements and financial reporting procedures, the performance of our internal audit function and independent auditors, and other matters set forth in its charter. The Committee, which currently consists of five
independent directors, meets regularly with representatives of management, and with the independent auditors and the Internal Auditor, with and without management representatives in attendance, to review their activities.
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
The Company has ongoing initiatives to standardize and upgrade its financial, operating and supply chain systems. The system upgrades will be implemented in stages, by business, over the next several years.
Management believes the necessary procedures are in place to maintain effective internal controls over financial reporting as these initiatives continue.
During the 2010 second quarter, the Company acquired SCA Packaging Asia. Integration activities, including a preliminary assessment of internal controls over financial reporting, are currently in process. The
initial annual assessment of internal controls over financial reporting for SCA Packaging Asia will be conducted over the course of our 2011 assessment cycle.
There have been no changes in our internal control over financial reporting during the quarter ended December 31, 2010 that have materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.
ITEM 9B. OTHER INFORMATION
None.
PART III.
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Information concerning our directors is hereby incorporated by reference to our definitive proxy statement that will be filed with the Securities
and Exchange Commission (SEC) within 120 days of the close of our fiscal year. The Audit and Finance Committee of the Board of Directors has at least one member who is a financial expert, as that term is defined in Item 401(d)(5) of Regulation
S-K. Further information concerning the composition of the Audit and Finance Committee and our audit committee financial experts is hereby incorporated by reference to our definitive proxy statement that will be filed with the SEC within 120 days of
the close of our fiscal year. Information with respect to our executive officers is set forth on pages 6 and 7 in Part I of this Form 10-K under the caption, Executive Officers of the Registrant.
Executive officers of International Paper are elected to hold office until the next annual meeting of the Board of Directors following the annual
meeting of shareholders and, until the election of successors, subject to removal by the Board.
The Companys Code of Business
Ethics (Code) is applicable to all employees of the Company, including the chief executive officer and senior financial officers, as well as the Board of Directors. We disclose any amendments to our Code and any waivers from a provision of our Code
granted to our directors, chief executive officer and senior financial officers on our Internet Web site within four business days following such amendment or waiver. To date, no waivers of the Code have been granted.
We make available free of charge on our Internet Web site at www.internationalpaper.com , and in print to any shareholder who requests them,
our Corporate Governance Principles, our Code of Business Ethics and the Charters of our Audit and Finance Committee, Management Development and Compensation Committee, Governance Committee and Public Policy and Environment Committee. Requests for
copies may be directed to the corporate secretary at our corporate headquarters.
Information with respect to compliance with
Section 16(a) of the Securities and Exchange Act and our
96
corporate governance is hereby incorporated by reference to our definitive proxy statement that will be filed with the SEC within 120 days of the close of our fiscal year.
ITEM 11. EXECUTIVE COMPENSATION
Information with respect to the compensation of executives and directors of the Company is hereby incorporated by reference to our definitive proxy statement that will be filed with the SEC within 120 days of the
close of our fiscal year.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED
STOCKHOLDER MATTERS
A description of the security ownership of certain beneficial owners and management and equity compensation
plan information is hereby incorporated by reference to our definitive proxy statement that will be filed with the SEC within 120 days of the close of our fiscal year.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
A description of certain relationships and related transactions is hereby incorporated by reference to our definitive proxy statement that will be filed with the SEC within 120 days of the close of our fiscal year.
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Information with respect to fees paid to, and services rendered by, our principal accountant, and our policies and procedures for pre-approving
those services, is hereby incorporated by reference to our definitive proxy statement that will be filed with the SEC within 120 days of the close of our fiscal year.
PART IV.
ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
(a)
(1)
Financial Statements See Item 8. Financial Statements and Supplementary Data.
(2)
Financial Statement Schedules The following additional financial data should be read in conjunction with the consolidated financial statements in Item 8.
Schedules not included with this additional financial data have been omitted because they are not applicable, or the required information is shown in the consolidated financial statements or the notes thereto.
Additional Financial Data
2010, 2009 and 2008
Report of Independent Registered Public Accounting Firm on Financial Statement Schedule for 2010, 2009 and 2008
102
Consolidated Schedule: II-Valuation and Qualifying Accounts
103
(3.1)
Restated Certificate of Incorporation of International Paper Company (incorporated by reference to Exhibit 3.1 to the Companys Current Report on Form 8-K
dated May 16, 2008).
(3.2)
By-laws of International Paper Company, as amended through May 10, 2010 (incorporated by reference to Exhibit 3.1 to the Companys Current Report on Form 8-K
dated May 14, 2010).
(4.1)
Indenture,dated as of April 12, 1999, between International Paper and The Bank of New York, as Trustee (incorporated by reference to Exhibit 4.1 to the
Companys Current Report on Form 8-K dated June 29, 2000).
(4.2)
Supplemental Indenture (including the form of Notes), dated as of June 4, 2008, between International Paper Company and The Bank of New York, as Trustee (incorporated
by reference to Exhibit 4.1 to the Companys Current Report on Form 8-K dated June 4,
2008).
97
(4.3)
Supplemental Indenture (including the form of Notes), dated as of May 11, 2009, between International Paper Company and The Bank of New York Mellon, as trustee
(incorporated by reference to Exhibit 4.1 to the Company Current Report on Form 8-K dated May 11, 2009).
(4.4)
Supplemental Indenture (including the form of Notes), dated as of August 10, 2009, between International Paper Company and The Bank of New York Mellon, as
trustee (incorporated by reference to Exhibit 4.1 to the Company Current Report on Form 8-K dated August 10, 2009).
(4.5)
Supplemental Indenture (including the form of Notes), dated as of December 7, 2009, between International Paper Company and The Bank of New York Mellon Trust
Company, N.A., as trustee (incorporated by reference to Exhibit 4.1 to the Company Current Report on Form 8-K dated December 7, 2009).
(4.6)
In accordance with Item 601 (b) (4) (iii) (A) of Regulation S-K, certain instruments respecting long-term debt of the Company have been omitted
but will be furnished to the Commission upon request.
(10.1)
2009 Incentive Compensation Plan (incorporated by reference to Exhibit 10.1 to the Company Current Report on Form 8-K dated May 12, 2009). +
(10.2)
2010 Management Incentive Plan, amended and restated as of January 1, 2010 (incorporated by reference to Exhibit 10.3 to the Companys Quarterly Report on
Form 10-Q for the quarter ended March 31, 2010). +
(10.3)
2011 Management Incentive Plan, amended and restated as of January 1, 2011 (incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form
8-K dated February 11, 2011). +
(10.4)
2009 Executive Management Incentive Plan (incorporated by reference to Exhibit 10.2 to the Company Current Report on Form 8-K dated May 12, 2009).
+
(10.5)
2010 Exhibits to the 2009 Executive Management Incentive Plan (incorporated by reference to Exhibit 10.4 to the Companys Quarterly Report on Form 10-Q for the
quarter ended March 31, 2010). +
(10.6)
2011 Exhibits to the 2009 Executive Management Incentive Plan (incorporated by reference to Exhibit 10.2 to the Companys Current Report on Form 8-K dated
February 11, 2011). +
(10.7)
Restricted Stock and Deferred Compensation Plan for Non-Employee Directors, Amended and Restated as of May 10, 2010 (incorporated by reference to Exhibit 10.1 to
the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2010). +
(10.8)
Form of individual non-qualified stock option award agreement under the LTICP (incorporated by reference to Exhibit 10.6 to the Companys Annual Report on
Form 10-K for the fiscal year ended December 31, 2001). +
(10.9)
Form of individual executive continuity award under the LTICP (incorporated by reference to Exhibit 10.9 to the Companys Annual Report on Form 10-K for the fiscal
year ended December 31, 1999). +
(10.10)
Form of Restricted Stock Award Agreement (incorporated by reference to Exhibit 10.8 to the Companys Annual Report on Form 10-K for the fiscal year ended
December 31, 2009). +
(10.11)
Form of Restricted Stock Unit Award Agreement (cash settled) (incorporated by reference to Exhibit 10.9 to the Companys Annual Report on Form 10-K for the fiscal
year ended December 31, 2009). +
(10.12)
Form of Restricted Stock Unit Award Agreement (stock settled) (incorporated by reference to Exhibit 10.10 to the Companys Annual Report on Form 10-K for the
fiscal year ended December 31, 2009). +
98
(10.13)
Form of Performance Share Plan award certificate. * +
(10.14)
Pension Restoration Plan for Salaried Employees (incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended
March 31, 2009). +
(10.15)
Unfunded Supplemental Retirement Plan for Senior Managers, as amended and restated effective January 1, 2008 (incorporated by reference to Exhibit 10.21 to the
Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2007). +
(10.16)
Amendment No. 1 to the International Paper Company Unfunded Supplemental Retirement Plan for Senior Managers, effective October 13, 2008 (incorporated by
reference to Exhibit 10.3 to the Companys Current Report on Form 8-K dated October 17, 2008). +
(10.17)
Amendment No. 2 to the International Paper Company Unfunded Supplemental Retirement Plan for Senior Managers, effective October 14, 2008 (incorporated by
reference to Exhibit 10.5 to the Companys Current Report on Form 8-K dated October 17, 2008). +
(10.18)
Amendment No. 3 to the International Paper Company Unfunded Supplemental Retirement Plan for Senior Managers, effective December 8, 2008 (incorporated by
reference to Exhibit 10.20 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2008). +
(10.19)
Amendment No. 4 to the International Paper Company Unfunded Supplemental Retirement Plan for Senior Managers, effective January 1, 2009 (incorporated by
reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2009).
+
(10.20)
Amendment No. 5 to the International Paper Company Unfunded Supplemental Retirement Plan for Senior Managers, effective October 31, 2009 (incorporated by
reference to Exhibit 10.17 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2009). +
(10.21)
Form of Non-Competition Agreement, entered into by certain Company employees (including named executive officers) who have received restricted stock (incorporated by
reference to Exhibit 10.22 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2008). +
(10.22)
Form of Non-Solicitation Agreement, entered into by certain Company employees (including named executive officers) who have received restricted stock (incorporated by
reference to Exhibit 10.5 to the Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2006). +
(10.23)
Form of Change of Control AgreementTier I, approved July 2010 (incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the
quarter ended September 30, 2010). +
(10.24)
Form of Change of Control AgreementTier II, approved July 2010 (incorporated by reference to Exhibit 10.2 to the Companys Quarterly Report on Form 10-Q for the
quarter ended September 30, 2010). +
(10.25)
Form of Indemnification Agreement for Directors (incorporated by reference to Exhibit 10.13 to the Companys Annual Report on Form 10-K for the fiscal year ended
December 31, 2003). +
99
(10.26)
Board Policy on Severance Agreements with Senior Executives (incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form 8-K filed on
October 17, 2005). +
(10.27)
Board Policy on Change of Control Agreements (incorporated by reference to Exhibit 10.2 to the Companys Current Report on Form 8-K filed on October 17, 2005).
+
(10.28)
Executive Employment Agreement between the Company and Paul Herbert, effective October 1, 2007 (incorporated by reference to Exhibit 10.31 to the Companys
Annual Report on Form 10-K for the fiscal year ended December 31, 2007). +
(10.29)
International Paper Company Industrial Packaging Group Special Incentive Plan, effective January 1, 2009 (incorporated by reference to Exhibit 10.3 to the
Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2008). +
(10.30)
Consulting Agreement, dated February 19, 2010, by and between International Paper Company and Michael Balduino (incorporated by reference to Exhibit 10.2 to the
Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2010).
(10.31)
Time Sharing Agreement, dated December 16, 2010, by and between International Paper Company and John V. Faraci (incorporated by reference to Exhibit 10.1 to the
Companys Current Report on Form 8-K filed on December 22, 2010). +
(10.32)
Letter of Understanding between International Paper Company and Maximo Pacheco dated December 10, 2009. + *
(10.33)
3-Year Credit Agreement, dated as of November 20, 2009, between International Paper Company, the Subsidiary Guarantors, the Lenders party hereto, and JPMorgan Chase
Bank, N.A., as Administrative Agent. (incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form 8-K dated November 24,
2009).
(10.34)
Second Amended and Restated Credit and Security Agreement, dated as of March 13, 2008, among Red Bird Receivables, LLC, as Borrower, International Paper Company, as
Servicer, the Conduits and Liquidity Banks from time to time a party thereto, The Bank of Tokyo-Mitsubishi, Ltd., New York Branch, as Gotham Agent, JPMorgan Chase Bank, N.A., as PARCO Agent, BNP Paribas, acting through its New York Branch, as
Starbird Agent, Citicorp North America, Inc., as CAFCO Agent and as Administrative Agent. Certain confidential portions have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential
treatment (incorporated by reference to Exhibit 10.4 to the Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2008).
(10.35)
Amendment No. 1, dated as of January 23, 2009, to the Second Amended and Restated Credit and Security Agreement dated as of March 13, 2008. Certain confidential
portions have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment (incorporated by reference to Exhibit 10.3 to the Companys Quarterly Report on Form 10-Q for the
quarter ended March 31, 2009).
(10.36)
Omnibus Amendment No. 1 dated June 26, 2009, comprised of Amendment No. 2 to Second Amended and Restated Credit and Security Agreement, and Amendment
No. 1 to Fee Letters (incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30,
2009).
100
(10.37)
Amendment No. 3, dated as of January 13, 2010, to the Second Amended and Restated Credit and Security Agreement dated as of March 13, 2008 by and among Red
Bird Receivables, LLC, as Borrower, International Paper Company as Servicer, the Conduits and Liquidity Banks from time to time parties thereto, and the agents parties thereto. Certain confidential portions have been omitted and filed
separately with the Securities and Exchange Commission pursuant to a request for confidential treatment (incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended March 31,
2010).
(10.38)
Receivables Sale and Contribution Agreement, dated as of March 13, 2008, between International Paper Company and Red Bird Receivables, LLC (incorporated by reference
to Exhibit 10.5 to the Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2008).
(10.39)
Amendment No. 1, dated August 29, 2008, to the Receivables Sale and Contribution Agreement dated as of March 13, 2008 (incorporated by reference to Exhibit
10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2008).
(10.40)
Amendment No. 2, dated January 23, 2009, to the Receivables Sale and Contribution Agreement dated as of March 13, 2008 (incorporated by reference to Exhibit 10.4 to the
Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2009).
(10.41)
IP Debt Security, dated December 7, 2006, issued by International Paper Company to Basswood Forests LLC (incorporated by reference to Exhibit 4.1 to the
Companys Current Report on Form 8-K dated December 13,
2006).
(10.42)
IP Hickory Note, dated December 7, 2006, issued by International Paper Company to Hickory Forests LLC (incorporated by reference to Exhibit 4.2 to the Companys
Current Report on Form 8-K dated December 13, 2006).
(11)
Statement of Computation of Per Share Earnings.*
(12)
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends.*
(21)
List of Subsidiaries of Registrant.*
(23)
Consent of Independent Registered Public Accounting Firm.*
(24)
Power of Attorney (contained on the signature page to the Companys Annual Report on Form 10-K for the year ended December 31, 2010).
(31.1)
Certification by John V. Faraci, Chairman and Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *
(31.2)
Certification by Tim S. Nicholls, Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *
(32)
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. *
(101.INS)
XBRL Instance Document (furnished with Original Filing)
(101.SCH)
XBRL Taxonomy Extension Schema (furnished with Original Filing)
(101.CAL)
XBRL Taxonomy Extension Calculation Linkbase (furnished with Original Filing)
(101.DEF)
XBRL Taxonomy Extension Definition Linkbase (furnished with Original Filing)
(101.LAB)
XBRL Taxonomy Extension Label Linkbase (furnished with Original Filing)
(101.PRE)
XBRL Extension Presentation Linkbase (furnished with Original Filing)
+
Management contract or compensatory plan or arrangement.
101
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON FINANCIAL STATEMENT SCHEDULE
To the Shareholders of International Paper Company:
We have audited the consolidated financial statements of International Paper Company and subsidiaries (the Company) as of December 31, 2010 and 2009, and for each of the three years in the period
ended December 31, 2010, and the Companys internal control over financial reporting as of December 31, 2010, and have issued our reports thereon dated February 25, 2011; such consolidated financial statements and reports are
included elsewhere in this Form 10-K. Our audits also included the consolidated financial statement schedule of the Company listed in Item 15 (a)(2). This consolidated financial statement schedule is the responsibility of the Companys
management. Our responsibility is to express an opinion based on our audits. In our opinion, such consolidated financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents
fairly, in all material respects, the information set forth therein.
Memphis, Tennessee
February 25, 2011
102
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE II
INTERNATIONAL PAPER COMPANY
AND CONSOLIDATED SUBSIDIARIES
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS
(In millions)
For the Year Ended December 31, 2010
Balance at
Beginning
of Period
Additions
Charged to
Earnings
Additions
Charged to
Other Accounts
Deductions
from
Reserves
Balance at End of
Period
Description
Reserves Applied Against Specific Assets Shown on Balance Sheet:
Doubtful accounts current
$
136
$
28
$
0
$
(35)(a)
$
129
Restructuring reserves
84
46
0
(116)(b)
14
For the Year Ended December 31, 2009
Balance at
Beginning
of Period
Additions Charged
to
Earnings
Additions Charged
to
Other Accounts
Deductions
from
Reserves
Balance at End
of
Period
Description
Reserves Applied Against Specific Assets Shown on Balance Sheet:
Doubtful accounts current
$
121
$
54
$
0
$
(39)(a)
$
136
Restructuring reserves
96
251
0
(263)(b)
84
For the Year Ended December 31, 2008
Balance at
Beginning
of Period
Additions Charged
to
Earnings
Additions Charged
to
Other Accounts
Deductions
from
Reserves
Balance at End
of
Period
Description
Reserves Applied Against Specific Assets Shown on Balance Sheet:
Doubtful accounts current
$
95
$
29
$
13
(c)
$
(16)(a)
$
121
Restructuring reserves
7
120
0
(31)(b)
96
(a)
Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments.
(b)
Includes payments and deductions for reversals of previously established reserves that were no longer required.
(c)
Allowance for doubtful accounts acquired in the Weyerhaeuser Containerboard, Packaging and Recycling acquisition.
103
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
INTERNATIONAL PAPER COMPANY
February 25,
2011
By:
/S / MAURA ABELN
SMITH
Maura Abeln Smith
Senior Vice President, General Counsel
and Corporate Secretary
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Maura Abeln Smith and
Sharon R. Ryan as his or her true and lawful attorney-in-fact and agent, acting alone, with full power of substitution and resubstitution for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all
amendments to this annual report on Form 10-K, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact full power and authority to
do and perform each and every act and thing requisite or necessary to be done, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on
behalf of the registrant and in the capacities and on the dates indicated:
Signature
Title
Date
/S / JOHN V.
FARACI
John V. Faraci
Chairman of the Board, Chief Executive Officer and Director
February 25, 2011
/S / DAVID J.
BRONCZEK
David J. Bronczek
Director
February 25, 2011
/S / LYNN LAVERTY
ELSENHANS
Lynn Laverty Elsenhans
Director
February 25, 2011
/S / SAMIR G.
GIBARA
Samir G. Gibara
Director
February 25, 2011
/S / STACEY J.
MOBLEY
Stacey J. Mobley
Director
February 25, 2011
/S / JOHN L. TOWNSEND
III
John L. Townsend III
Director
February 25, 2011
/S / JOHN F.
TURNER
John F. Turner
Director
February 25, 2011
/S / WILLIAM G.
WALTER
William G. Walter
Director
February 25, 2011
/S / ALBERTO
WEISSER
Alberto Weisser
Director
February 25, 2011
/S / J. STEVEN
WHISLER
J. Steven Whisler
Director
February 25, 2011
/S / TIM S.
NICHOLLS
Tim S. Nicholls
Senior Vice President and Chief Financial Officer
February 25, 2011
/S / TERRI L.
HERRINGTON
Terri L. Herrington
Vice President - Finance and Controller
February 25, 2011
104
APPENDIX I
2010 LISTING OF FACILITIES
(all facilities are owned except noted otherwise)
PRINTING PAPERS
International:
Lincoln, Illinois
Yanzhou City China
Montgomery, Illinois
Uncoated Papers and Pulp
Tokyo, Japan leased
Northlake, Illinois
U.S.:
(Sales Office)
Rockford, Illinois
Courtland, Alabama
Veracruz, Mexico
Butler, Indiana
Selma, Alabama
Kenitra, Morocco
Fort Wayne, Indiana
(Riverdale Mill)
Hammond, Indiana
Ontario, California leased
Corrugated Container
Indianapolis, Indiana (2 locations)
(C&D Center)
U.S.:
Cedar Rapids, Iowa
Cantonment, Florida
Bay Minette, Alabama
Waterloo, Iowa
(Pensacola Mill)
Decatur, Alabama
Bowling Green, Kentucky
Springhill, Louisiana
Dothan, Alabama leased
Lexington, Kentucky
(C&D Center)
Huntsville, Alabama
Louisville, Kentucky
Sturgis, Michigan
Bentonville, Arkansas
Walton, Kentucky
(C&D Center)
Conway, Arkansas
Lafayette, Louisiana
Ticonderoga, New York
Fort Smith, Arkansas
Shreveport, Louisiana
Riegelwood, North Carolina
Jonesboro, Arkansas **
Springhill, Louisiana
Hazleton, Pennsylvania
Russellville, Arkansas (2 locations)
Auburn, Maine
(C&D Center)
Tolleson, Arizona
Kalamazoo, Michigan
Eastover, South Carolina
Yuma, Arizona
Three Rivers, Michigan
Georgetown, South Carolina
Anaheim, California
Arden Hills, Minnesota
Sumter, South Carolina
Camarillo, California
Austin, Minnesota
Franklin, Virginia *
Carson, California
Fridley, Minnesota
International:
Compton, California
Minneapolis, Minnesota
Luiz Antonio, Sao Paulo, Brazil
Elk Grove, California
White Bear Lake, Minnesota
Mogi Guacu, Sao Paulo, Brazil
Exeter, California
Houston, Mississippi leased
Tres Lagoas, Mato Grosso do Sul Brazil
Los Angeles, California leased
Jackson, Mississippi
Hyderabad, India leased
Modesto, California (2 locations)
Magnolia, Mississippi
(Sales Office)
Salinas, California
Olive Branch, Mississippi
Kwidzyn, Poland
Sanger, California
Kansas City, Missouri
Svetogorsk, Russia
San Leandro, California leased
Maryland Heights, Missouri
Singapore (2 locations) leased
Santa Paula, California
North Kansas City, Missouri leased
(Sales Offices)
Stockton, California
St. Joseph, Missouri
Golden, Colorado
Omaha, Nebraska
INDUSTRIAL PACKAGING
Putnam, Connecticut
Barrington, New Jersey
Jacksonville, Florida leased
Bellmawr, New Jersey
Containerboard
Lake Wales, Florida
Rochester, New York
U.S.:
Plant City, Florida
Charlotte, North Carolina
Pine Hill, Alabama
Tampa, Florida
(2 locations) 1 leased
Prattville, Alabama
Columbus, Georgia
Lumberton, North Carolina
Oxnard, California
Forest Park, Georgia
Newton, North Carolina
Cantonment, Florida
Griffin, Georgia
Statesville, North Carolina
(Pensacola, Florida)
Kennesaw, Georgia
Byesville, Ohio
Savannah, Georgia
Lithonia, Georgia
Delaware, Ohio
Cedar Rapids, Iowa
Savannah, Georgia
Eaton, Ohio
Henderson, Kentucky
Tucker, Georgia
Mt. Vernon, Ohio
Campti, Louisiana
Aurora, Illinois
Newark, Ohio
Mansfield, Louisiana
Bedford Park, Illinois (2 locations)
Solon, Ohio
Vicksburg, Mississippi
1 leased
Wooster, Ohio
Valliant, Oklahoma
Belleville, Illinois
Oklahoma City, Oklahoma
Springfield, Oregon
Chicago, Illinois (2 locations)
Beaverton, Oregon
Des Plaines, Illinois
Hillsboro, Oregon
A-1
Portland, Oregon
Juhor, Malaysia
Greensboro, North Carolina
Salem, Oregon leased
Ixtaczoquitlan, Mexico
Riegelwood, North Carolina
Eighty-four, Pennsylvania
Juarez, Mexico leased
Hammond, Indiana leased
Lancaster, Pennsylvania
Puebla, Mexico leased
(C & D Center)
Mount Carmel, Pennsylvania
Silao, Mexico
Prosperity, South Carolina
Georgetown, South Carolina
Villa Nicolas Romero, Mexico
Texarkana, Texas
Laurens, South Carolina
Agadir, Morocco
Franklin, Virginia *
Spartanburg, South Carolina ***
Casablanca, Morocco
Cleveland, Tennessee
Kenitra, Morocco
Foodservice
Morristown, Tennessee
Monterrey, Nuevo Leon leased
U.S.:
Murfreesboro, Tennessee
Jurong, Singapore
Visalia, California
Amarillo, Texas
Singapore, Singapore
Shelbyville, Illinois
Dallas, Texas
Alcala, Spain leased
Kenton, Ohio
Edinburg, Texas (2 locations)
Almeria, Spain
International:
El Paso, Texas
Barcelona, Spain
Shanghai, China
Ft. Worth, Texas leased
Bilbao, Spain
Bogota, Columbia
Grand Prairie, Texas
Gandia, Spain
Cheshire, England leased
Hidalgo, Texas
Valladolid, Spain
D.N. Ashrat, Israel
McAllen, Texas
Bangkok, Thailand
Mexico City, Mexico leased
San Antonio, Texas
(Sales Office)
Sealy, Texas
Recycling
Lynchburg, Virginia
U.S.:
Shorewood Packaging
Richmond, Virginia
Phoenix, Arizona
U.S.:
Bellevue, Washington
Fremont, California
Indianapolis, Indiana
Moses Lake, Washington
Norwalk, California
Louisville, Kentucky
Olympia, Washington
West Sacramento, California
Carlstadt, New Jersey leased
Yakima, Washington
Denver, Colorado
West Deptford, New Jersey
Fond du Lac, Wisconsin
Itasca, Illinois
Hendersonville, North Carolina
Manitowoc, Wisconsin
Des Moines, Iowa
Weaverville, North Carolina
International:
Wichita, Kansas
Danville, Virginia
Las Palmas, Canary Islands
Baltimore, Maryland
Newport News, Virginia
Tenerife, Canary Islands
Roseville, Minnesota
International:
Rancagua, Chile
Omaha, Nebraska
Smith Falls, Ontario, Canada
Baoding, China
Charlotte, North Carolina
Toronto, Ontario, Canada
Beijing, China (2 locations)
Beaverton, Oregon
Guangzhou, China
Chengdu, China
Eugene, Oregon
Kunshan, China
Chongqing, China
Memphis, Tennessee
Aguascalientes, Mexico
Dalian, China
Carrollton, Texas
Torun, Poland
Dongguan, China
Salt Lake City, Utah
Sacheon, South Korea
Foshan, China
Richmond, Virginia
Ebbw Vale, Wales, United Kingdom
Guangzhou, China (2 locations)
Kent, Washington
Huhot, China
International:
DISTRIBUTION
Nanjing, China
Veracruz, Mexico (2 locations)
Shanghai, China (2 locations)
xpedx
Shenyang, China
Bags
U.S.:
Suzhou, China
U.S.:
Stores Group
Tianjin, China (2 locations)
Buena Park, California
Chicago, Illinois
Wuhan, China
Beaverton, Oregon
122 locations nationwide
Wuxi, China
Grand Prairie, Texas
115 leased
Xianghe, China
West Region
Arles, France
CONSUMER PACKAGING
Denver, Colorado
Chalon-sur-Saone, France
46 branches in the Rocky Mountain,
Creil, France
Coated Paperboard
Northwest and Pacific States
LePuy, France
Ontario, California leased
31 leased
Mortagne, France
(C&D Center)
East Region
Guadeloupe, French West Indies
Augusta, Georgia
Hartford, Connecticut
Batam, Indonesia
Springhill, Louisiana
48 branches in New England, Upper
Bellusco, Italy
(C&D Center)
Midwest, Southeast, and Middle
Catania, Italy
Sturgis, Michigan
Atlantic States
Pomezia, Italy
(C&D Center)
35 leased
San Felice, Italy
National Group
Kuala Lumpur, Malaysia
Loveland, Ohio
8 locations in Georgia, Kansas,
Ohio, New York, Illinois and
Missouri
all leased
A-2
International:
Canada (6 locations)
all leased
Mexico (20 locations)
all leased
IP Asia
International:
China (8 locations)
Malaysia
Taiwan
Thailand
Vietnam
FOREST PRODUCTS
Forest Resources
International:
Approximately 252,000 acres in
Brazil
*
Permanently ceased operations in April 2010
**
Permanently ceased operations in July 2010
***
Permanently ceased operations in December 2010
A-3
APPENDIX II
2010 CAPACITY INFORMATION
CONTINUING OPERATIONS
(in thousands of short tons)
U.S.
Europe
Americas,
other
than U.S.
Asia
Total
Industrial Packaging
Containerboard
9,879
111
27
0
10,017
Printing Papers
Uncoated Freesheet
2,580
1,120
1,165
0
4,865
Bristols
210
0
0
0
210
Uncoated Papers and Bristols
2,790
1,120
1,165
0
5,075
Dried Pulp
1,015
325
170
1,510
Newsprint
0
128
0
0
128
Total Printing Papers
3,805
1,573
1,335
0
6,713
Consumer Packaging
Coated Paperboard
1,739
345
0
915
2,999
Forest Resources
We own, manage or have an interest in approximately 800,000 acres of forestlands worldwide. These forestlands and associated acres are
located in the following regions:
(M Acres
)
Brazil
252
Total
252
We have harvesting rights in:
Russia
513
Total
765
A-4
EX-10.13
2
dex1013.htm
FORM OF PERFORMANCE SHARE PLAN AWARD CERTIFICATE
Form of Performance Share Plan award certificate
Exhibit 10.13
International Paper Company
Notice of Award under the
2011-2013 Performance Share Plan (PSP)
NAME
ADDRESS
ADDRESS
Identification Number: Employee ID
#
THIS CERTIFIES THAT, effective
January 1, 2011, the Management Development and Compensation Committee (the Committee) of the Board of Directors (the Board) of International Paper Company (the Company) has authorized the grant
(the Award) of performance-based restricted stock units (Performance Share Units or PSUs) to [NAME] (the Participant) under the terms and conditions of the International Paper Company 2009
Incentive Compensation Plan (the Plan). The Award is subject to the Terms and Conditions on the reverse side of this certificate.
Date of Award:
January 1, 2011
Target Number of PSUs
Segment 1 (2011):
[ ]
Segment 2 (2012):
[ ]
Segment 3 (2013):
[ ]
Segment 4 (2011-2013):
[ ]
Total Target Number of PSUs:
[ ]
Performance Period:
January 1, 2011 through December 31, 2013
The Committee has approved the target number of PSUs based on the Participants position level at the Company. The target number of PSUs for this Award is [XX] . The actual number of
PSUs that the Participant may receive under this Award will be based on the Companys performance achievement over the 2011-2013 performance period. The actual number of PSUs that the Participant may receive at the end of the 2011-2013
performance period may be greater or less than the target number of PSUs based on the Companys actual performance achievement. The actual number of PSUs to be paid at the end of the performance period may be reduced at the discretion of the
Committee.
Terms not otherwise defined in this certificate have the meaning assigned to them in the Plan. In the event of any
inconsistency between the Terms and Conditions and the provisions of the Plan, the Plan will govern. By accepting this Award, the Participant acknowledges receipt of a copy of the Companys PSP prospectus, represents that he or she is familiar
with the terms and conditions of the Plan and agrees to accept this Award subject to all the terms and conditions of the Plan and of the Award.
IN WITNESS WHEREOF, the Company has caused this Award to be executed by its duly authorized officer as of the 1st day of January, 2011.
International Paper Company
John V. Faraci
Chairman and Chief Executive Officer
TERMS AND CONDITIONS OF AWARD
This Performance Share Plan award agreement is made between you, the Participant, and International Paper Company, a New York corporation (the
Company), by direction of the Management Development and Compensation Committee (the Committee) of the Board of Directors (the Board). This award (Award) is subject to the provisions of the
Companys 2009 Incentive Compensation Plan (the Plan). Terms not defined herein are defined in the Plan. This award agreement serves as your acceptance of the PSP award and the terms and conditions described in this agreement.
1.
Compliance with Laws and Regulations. It is intended that this Award, and any securities issued pursuant to this Award, will comply with all provisions of
federal and applicable state securities laws.
2.
Performance-Based Restricted Stock Units
(a)
All performance-based restricted stock units (Performance Share Units or PSUs) issued under this Award will be contingently awarded with respect
to each segment of the specific three-year performance period (the Performance Period) as described in the Notice of Award set forth on the reverse. PSUs may not be sold, transferred, pledged or assigned at any time. You will be asked to
file a beneficiary designation form with the Company that names the beneficiary or beneficiaries of the Award.
(b)
Payout of an Award is contingent solely upon the Companys achievement of the performance goals over the Performance Period, and not on individual performance.
(c)
All dividend equivalent units accrued during the Performance Period will be reinvested in additional PSUs (which will be allocated to the same Performance Period and
will be subject to being earned on the same basis as the original Award).
3.
Payment of Withholding Taxes. Generally, to pay withholding taxes due on an Award upon payout, the Company will reduce the number of PSUs paid to you by an
amount sufficient to pay statutorily required withholding taxes.
4.
Method of Determining Actual Award and Removal of Restrictions
(a)
As soon as practicable after the Performance Period, the number of PSUs to be paid under this Award will be determined by the Committee. The decision by the Committee
will be final, conclusive and binding upon all parties, including the Company, the shareowners and you. Following the Committees approval of the payout, you will receive unrestricted shares of Company common stock equal to the number of PSUs
payable to you.
(b)
You will receive prorated PSUs in the following events: (i) termination of your employment without Cause; (ii) death; (iii) Disability; or
(iv) voluntary resignation after retirement eligibility as defined under the Retirement Plan of the Company. In these events, you (or, if applicable, your beneficiary or estate) will receive the number of PSUs that would have been earned based
on actual Company performance, prorated based for your months of service during each segmented measurement period. Such PSUs are payable at the same time and in the same form as otherwise payable under the Plan.
(c)
Your award will be forfeited and cancelled upon the following events: (i) termination of your employment for Cause, (ii) voluntary resignation before
retirement eligibility, (iii) violation of a Non-Competition Agreement or Non-Solicitation Agreement, (iv) failure of a participant in the Companys Unfunded Supplemental Retirement Plan for Senior Managers (SERP) to
provide one-years notice of retirement, or (v) your Misconduct.
(d)
Except as may be provided in a Change in Control Agreement, in the event of Change in Control of the Company, the Award will be treated as described in the Plan.
(e)
In the event the Companys financial statements are required to be restated as a result of errors, omissions or fraud, the Company may recover all or a portion of
any Award with respect to any fiscal year of the Company the financial results of which are negatively affected by such restatement.
5.
Changes in Stock. In the event of any stock dividend, split, reclassification or other analogous change in capitalization, or any distribution (other than
regular cash dividends) to holders of the Companys common stock, the Committee will make such adjustments, if any, as it deems to be equitable in the number of PSUs awarded you.
6.
Other Terms and Conditions
(a)
The Board or the Committee may, at any time and from time to time, amend, modify or terminate the Plan without shareowner approval, subject to certain limitations
described in the plan. Further, the granting of an Award is discretionary by the Company. The Company may change the eligibility or other provisions of the Plan with Committee approval at any time.
(b)
You (or your estate or beneficiary) will promptly provide all information related to this Award that is requested by the Company for its tax returns.
(c)
You (and your surviving spouse, beneficiary, executor, administrator, heirs, successors or assigns) hereby agree to accept as binding, conclusive and final all
decisions that are made by the Committee with respect to interpretations of the terms and condition of the Plan or this Award and with respect to any questions or disputes arising under the Plan or this Award.
(d)
Participation in the Plan and receipt of this Award will not give you any right to a subsequent award, or any right to continued employment by the Company for any
period, nor will the granting of an award give the Company any right to your continued services for any period. You understand that this Award is in addition to, and not a part of, your annual salary.
(e)
You agree that if execution of a Non-Competition and/or a Non-Solicitation Agreement is required, this Award will be contingent upon your execution of such
agreement(s).
EX-10.32
3
dex1032.htm
LETTER OF UNDERSTANDING BETWEEN INTERNATIONAL PAPER COMPANY AND MAXIMO PACHECO
Letter of Understanding between International Paper Company and Maximo Pacheco
Exhibit 10.32
6400 POPLAR AVENUE
MEMPHIS, TN 38197
December 10, 2009
Mr. Maximo
Pacheco
International Paper Company
6400 Poplar Avenue
Memphis, TN 38197
Re:
Letter of Understanding for Maximo Pachecos Employment
(Including International Assignment in Brussels, Belgium)
Dear Maximo:
The purpose of this letter is to summarize the terms and conditions of your employment with, and temporary international assignment by, International
Paper Company (IP ). The details of many of the benefits we are providing are described in the International Paper Company Global Mobility Policy. This letter is intended to summarize the terms of your employment and also some of
those benefits related to your assignment. We recommend that you review and retain the attached copy of the Global Mobility Policy, which contains a full description of the benefits related to your international assignment. To the extent not
expressly stated in this letter, the terms of the Global Mobility Policy will be controlling.
Pending approval by the Management Development
and Compensation Committee (MDCC ) of IPs Board of Directors, you will be performing services as President, IP Europe, Middle East, Africa and Russia, effective January 1, 2010 (the Effective Date). In these
capacities, your duties and authorities in respect of IPs operations in Europe, Middle East, Africa and Russia will include all such matters as are customary for a companys senior executive officer. You will be based in Brussels,
Belgium. Your position level (PL ) will be as previously communicated to you by IP, and may be reviewed by IPs Chief Executive Officer and the MDCC from year to year in accordance with IPs customary review procedures
(giving particular consideration to changes in your duties and responsibilities and/or any material changes in the nature of IPs business operations in Europe, the Middle East, Africa or Russia). You will continue to serve as a Senior Vice
President of IP.
Each IP employee with an international assignment has both a Country of Assignment and a Home
Country, and these terms will be used to explain benefits throughout this letter. Your Country of Assignment will be Belgium and your Home Country has been designated as Brazil because you and your spouse have resided
in Brazil for the past five years. You and IP will both take certain actions to ensure that you are no longer deemed a resident of Brazil upon your termination of employment as President, IP Brazil, including your resignation from IP Brazil and such
other actions as may be recommended. Throughout this letter, we also refer to your Point of Origin. Because you are a citizen of Chile and anticipate visiting your home in
Chile during the pendency of this assignment, we have designated your Point of Origin as Chile.
The terms and conditions in this letter that relate to the Global Mobility Policy are applicable only for the period of this international assignment. There is one exception, however, which is that you
will continue to receive certain tax preparation services and payments that apply to the taxable years of your international assignment.
For
the period of this international assignment, you will be placed on the payroll of International Paper Professional Services Corporation (IPPSC ), which is a wholly owned subsidiary of IP. Even though you will be on the payroll of
IPPSC, you will continue to be covered by, and eligible for, the employee benefit plans and policies of IP.
If you have questions about
anything contained in this letter, please contact Paul J. Karre, Senior Vice President, Human Resources & Communications, in Memphis, Tennessee.
Overseas Compensation Philosophy
IPs goal is to make sure that you enjoy a
reasonably comparable standard of living in your Country of Assignment as you do in your Home Country. You will receive a copy of your compensation schedule before you leave for your Country of Assignment. You will also receive updates whenever the
compensation is adjusted. You will be paid under a split payroll methodology in the U.S. and Belgium. This letter highlights some of the ways we attempt to provide for your comfortable standard of living. Additional benefits for which you will be
eligible are described in the Global Mobility Policy.
Base Salary, Variable and Other Annual Compensation
Your base salary will be US$653,050 per year, which is US$54,420.84 per month. Your base salary will be reviewed by IPs Chief Executive Officer and
the MDCC from year to year in accordance with IPs customary review procedures.
An agreed-upon percentage of your base salary amount
will be payable into your U.S. bank account in 12 monthly installments, with one installment payable on the last day of each calendar month. The remaining amount will be payable into your Brussels bank account in 12 monthly installments, with one
installment payable on the last day of each calendar month. You may change such percentage no more than three (3) times per year, unless IP otherwise consents.
You will continue to be eligible to receive an award under IPs Management Incentive Plan (MIP ) in accordance with the terms of the MIP and based on your PL. Your MIP award will be
determined in accordance with normal MIP performance guidelines and, the target 2010 MIP award will be consistent with the MIP structure approved by the MDCC.
You will also continue to be eligible to receive awards under IPs Performance Share Plan (PSP ) in accordance with the terms of the PSP, and based on your PL at the time the award
is granted (provided that if the Company adopts any other equity-based award program to succeed or replace the PSP, then all references herein to the PSP will be deemed to refer to such
program). Your PSP grant will not be affected by the grant of common stock described below, and the target 2010 PSP award will be consistent with the PSP structure approved by the MDCC.
In addition to the PSP awards described above, you will receive a grant of 75,000 restricted shares/units in respect of IP common stock, as
will be further described in the grant award agreement to be entered into between you and IP on or about the Effective Date. The restrictions on the shares/units will be removed, and the award will vest, pursuant to the following schedule:
(i) 15,000 shares/units will be immediately vested upon grant; (ii) 15,000 shares/units will vest on January 1, 2011, and each anniversary thereafter through January 1, 2014, provided you continue to be employed by IP.
Further, the restrictions on the award will be removed, and the award will vest, upon your death or disability, upon the change of control of IP, or in the event of termination by IP without Cause. However, if you cease to be an active
employee of IP prior to January 1, 2014, for any reason other than death, disability, or termination without Cause, the remaining unvested portion of the shares/units will be forfeited. For purposes of this Agreement, the terms
Cause and change of control shall have the meaning ascribed to such terms in the COC Agreement referred to at the end of this letter; provided that any references to facts existing before or after a Change of
Control shall be deemed to refer to facts existing during your employment and before any change or modification in the terms of your employment. IP may deduct a sufficient number of shares necessary to cover estimated withholding obligations
of any U.S. or foreign tax jurisdiction.
You will also continue to receive equalization payments (the Equalization
Payments ) in the amount of US$155,000 each, payable on January 31, 2010 and January 31, 2011, which will be deposited in your U.S. bank account. You acknowledge and agree that you will not be entitled to receive further such
Equalization Payments following any date on which you cease to provide services to IP or an affiliate; and, in no event after January 31, 2011.
Tax Equalization
It is IPs policy that you should not pay more (or less) in
taxes on your compensation than you would be responsible for paying if you were still working in your Home Country. For this reason, we will work with local tax professionals to determine the applicable taxes in both your Home Country and Country of
Assignment. You will be required to pay an amount of taxes you would have paid in your Home Country. If your Country of Assignment tax rate is lower than your Home Country tax rate, you may be required to pay additional amounts to IP. IP will pay
for all income and similar tax return preparation, filing and audit-related costs and expenses in matters relating to compensation paid by IP (and taxes due) necessary for you in the United States, Brazil, Chile, Belgium, and any other jurisdiction
in which you perform services for any IP entity (it being understood that IP will arrange for a Big Four international accounting firm to prepare and file such returns in a manner consistent with the services provided for other
expatriates of IP.) As previously described to you, IP will pay for tax planning services only to the extent that such services are related to tax consequences of compensation paid to you by IP as an expatriate. Because you anticipate returning to
Chile upon your retirement from IP, this includes tax planning services of an accounting firm necessary to avoid double taxation in Chile resulting from your international assignment. Consistent with IPs Global Mobility Policy, you will be tax
equalized on imputed income associated with tax planning services paid by IP on your behalf.
International Paper Health and Welfare Plans
IP will continue to provide your health and welfare benefits. Your medical and dental coverage will be provided by Aetna Global Benefits.
Similarly, you will continue to be eligible for IPs Executive Supplemental Life Insurance Program (ESIP ), which is provided to
certain other senior vice presidents of IP. Under this program, IP pays the annual insurance premium for the ESIP. Executives are not grossed up on the income tax associated with the imputed income.
International Paper Retirement Plans
You will continue to participate in the Unfunded Supplemental Retirement Plan for Senior Managers (SERP ). Your benefit under the SERP will be determined under the formula set forth in
Section 5(B) of the SERP based on your total period of service with IP and its affiliates, including without limitation, your service for any IP entity in Chile, Brazil and Brussels. To avoid any confusion, the parties agree that your service
with IP and its affiliates commenced on April 24, 1994, and has continued without interruption through the date of this letter.
Housing
You will be living in
rental housing in your Country of Assignment during your international assignment. IP will pay the actual cost of your rental housing in Brussels, including home security expenses, and all utilities except local and long distance telephone service.
With regard to your housing in your Country of Assignment, it is important to know that IP strongly discourages you from purchasing a house
in the Country of Assignment. If you choose to purchase a home in your Country of Assignment, IP will not offer any financial assistance to you at the time of purchase of the residence or at the time you subsequently sell the residence.
Consistent with IPs Global Mobility Policy, you will be tax equalized on imputed income associated with the housing allowance paid by IP.
Goods and Services Differential Allowance
We recognize that the cost of living in your Country of Assignment may be higher for many everyday items. To assist you in meeting living expenses, IP will provide you with a Goods and Services
Differential Allowance. Major areas that we include in determining the amount of the allowance are common, everyday items such as food, household items, domestic help, personal care, clothing, recreation and entertainment. We calculate the allowance
based on an amount a family of your size would typically spend on such items. We have calculated your allowance based on your family size of two persons in your Country of Assignment. This monthly allowance will be US$8,036.42.
This net allowance will be a fixed amount for the duration of your international assignment. We will begin paying this allowance on January 1, 2010.
You will no longer receive the allowance
once you have moved out of your permanent housing in your Country of Assignment. Consistent with IPs Global Mobility Policy, you will be tax equalized on income associated with the goods
and services differential allowance paid by IP.
It is important that you notify us when you move into, and when you leave, your permanent
housing in your Country of Assignment. It is also important that you notify us if the number of family members who reside with you full-time in your Country of Assignment changes. You will need to notify Rafael Durand at (901) 419-7851 as soon
as one of these events takes place.
Shipment/Storage of Personal Effects
IP expects that you will want to furnish your new residence with many of your personal items. We will pay for the costs to ship your household goods to
your Country of Assignment or to your Point of Origin. A representative from AIReS will make all arrangements for shipment and storage on your behalf.
With regard to any pets you may have, we recommend that you not relocate them to your Country of Assignment. However, we realize this is not always possible, so we will reimburse the costs to ship two
household pets, if permitted by law, up to US$2,500.
Home Country Automobile(s)
Your personal automobile(s) will not be shipped to your Country of Assignment. If you choose to sell your home country automobile(s), you will be eligible
for reimbursement for loss on sale for up to two personal automobiles. The loss on sale amount will be capped at US$3,500 for each automobile.
Automobile in Country of Assignment
You will be provided with an automobile for business use while in your Country of Assignment, with IP responsible for all costs related thereto, including without limitation, maintenance in the ordinary
course, third-party liability insurance coverage, and fuel. You will be responsible for paying applicable taxes on the imputed income associated with personal use of the automobile that you may have while in your Country of Assignment.
Annual Home Leave Trips
Annually, you are entitled to one home leave trip for up to four (4) weeks. Your spouse is entitled to three (3) additional home leave trips
annually. IP will provide you and your spouse with direct route (if available), business class, round-trip airfare between Brussels and your Point of Origin for each home leave.
Limited but necessary and reasonable travel expenses en route and car rental during periods of home leave will also be covered. Lodging, meals and gasoline for the rental car during periods of home leave
will be your responsibility and will not be reimbursed.
Travel for Family Members
IP wants to encourage your children who attend college to visit you during your international assignment. For this reason, we will reimburse the airfare and limited but necessary and reasonable travel
expenses for two (2) trips for each child attending college during the school year that either you or your college student may use for a visit.
Cultural Training
IP believes that for you to be as effective as possible, it is
important that you understand the customs and manners of your Country of Assignment. For this reason, IP offers cultural training for both you and your spouse. You will be receiving additional information about this training from our international
relocation provider, AIReS.
Physical Examinations
Your health is very important to us and IP wants to be sure that you are physically able to take on this international assignment. For this reason, before you leave for your Country of Assignment, you and
your spouse will be required to have a basic physical examination, as well as any necessary vaccinations and inoculations as specified by your medical doctor. IP will pay for the costs of the examination and necessary vaccinations or inoculations.
You and your spouse will receive an annual, basic physical examination once you are living in your Country of Assignment. IP will pay the
expense of these examinations.
For your continued good health, as soon as possible once you arrive in your Country of Assignment, please
establish a relationship with a local doctor and identify a local hospital to assist with any medical needs or emergencies that may arise. It is also important to have readily available information on the blood type, allergic reactions to
medications, and other important medical information for you and your immediate family members.
Work and Holiday Schedule
The working hours and holiday schedule will be provided by your Country of Assignment.
Conflicts of Interest
International Papers Conflict of Interest Policy as stated in our Code of Ethics continues to apply to you in your Country of Assignment. For this
reason, it is critical that you understand that you may not engage in any employment or business enterprises that would in any way conflict with your service to, or the interests of, IP.
Country of Assignment Applicable Laws
In your new position, you are acting, in many
ways, as an ambassador of IP to your Country of Assignment. It is critical that you understand that you must comply with all applicable laws in
your Country of Assignment, as well as any other country where you are doing business. It is also important that you understand you must refrain from engaging in political activities in your
Country of Assignment.
Termination and Severance
In the event your employment with IP is terminated for any reason while you are serving in your international assignment, or upon the end of your international assignment, IP will reimburse the costs to
move your household goods and personal effects, as well as travel for you and your spouse, back to your Point of Origin. It is important to note that IP will only pay these costs if you return within 60 days of the termination of your
employment. When your employment terminates, you will be required to immediately settle all outstanding advances, including travel, and any other financial arrangements you may have with IP. IP will also reimburse you for legal expenses incurred in
connection with your return to your Point of Origin, which must be approved by IPs Senior Vice President, Human Resources & Communications (such approval not to be unreasonably withheld).
You will be eligible for severance under the International Paper Salaried Severance Plan offered to other senior vice presidents of IP.
International Paper Agreements
As a senior vice president of IP, you have previously entered into certain agreements. The parties agree that the following previously executed agreements
remain in full force and effect (collectively, the Other Continuing Agreements): (i) Change of Control Agreement, dated October 15, 2008 (the COC Agreement); (ii) Non-Competition Agreement dated January 1,
2009; and (iii) Non-Solicitation Agreement dated January 1, 2009.
Indemnification
IP will continue to provide indemnification to you to the same extent provided to other similarly-situated officers in accordance with IPs By-laws,
which provide that IP will indemnify each Officer or Director of IP who is made, or threatened to be made, a party to any action by reason of the fact that he or she is or was serving at the request of IP in any capacity for IP or any other
enterprise, to the fullest extent permitted by applicable law. IP will also advance your costs and expenses in respect of any such action pending a final determination of your entitlement to indemnification, provided, however, that you will repay
the amount of such advance if it is ultimately be determined that you are not entitled to be indemnified against such costs and expenses.
Letter of Agreement
This letter,
together with the compensation awards and plans specifically referenced in this letter, constitute the entire agreement between IP, its affiliates, and you in respect of your employment with IP or its affiliates. This letter supersedes and renders
void any oral promises or commitments, and any other agreement, whether written or oral, between you and the Company or any affiliate, including, without limitation, the Amended and Restated Executive Agreement
with International Paper Professional Services Corporation and you dated January 1, 2007, and the Amended and Restated Executive Agreement with International Paper do Brasil Ltda. and you
dated January 1, 2007, but expressly excluding the Other Continuing Agreements and outstanding PSP grants.
Subject to the terms hereof,
your employment may be terminated by either party upon thirty (30) days notice to the other party; provided that any provision of this letter providing you with rights to compensation or benefits after your employment term will continue
in full force and effect in accordance with the terms described in this letter. This letter may not be modified or amended except by prior written consent of each party.
You and IP are entering into this letter agreement in the State of Tennessee, United States of America. This letter agreement will be subject to the laws of the State of Tennessee and applicable United
States federal laws. If any provision of this letter agreement is found to be invalid or unenforceable by reason of law, such invalidity or unenforceability will apply only to those provisions and the other provisions of this letter agreement will
remain in effect.
This contract is prepared and may be signed in counterparts, being one document for each party.
INTERNATIONAL PAPER PROFESSIONAL SERVICES CORPORATION
/s/ Rafael Durand
Director, Human Resources
International and EHS&S
MAXIMO PACHECO MATTE
/s/ Maximo Pacheco Matte
Date: December 21, 2009
Acknowledged and Agreed:
INTERNATIONAL PAPER COMPANY
/s/ Paul J. Karre
Paul J. Karre
SVP, Human
Resources & Communications
Date: December 10,
2009
EX-11
4
dex11.htm
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS
Statement of Computation of Per Share Earnings
EXHIBIT 11
INTERNATIONAL PAPER COMPANY
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS (C)
In millions except per share amounts
2010
2009
2008
Earnings (loss) from continuing operations
$
644
$
663
$
(1,269
)
Discontinued operations
0
0
(13
)
Net earnings (loss)
644
663
(1,282
)
Effect of dilutive securities (a)
0
0
0
Net earnings (loss) assuming dilution
$
644
$
663
$
(1,282
)
Average common shares outstanding
429.8
425.3
421.0
Effect of dilutive securities (a)
Restricted performance share plan
4.4
2.7
0
Stock options (b)
0
0
0
Average common shares outstanding assuming dilution
434.2
428.0
421.0
Earnings (loss) per common share from continuing operations
$
1.50
$
1.56
$
(3.02
)
Discontinued operations
0
0
(0.03
)
Net earnings (loss) per common share
$
1.50
$
1.56
$
(3.05
)
Earnings (loss) per common share from continuing operations
assuming dilution
$
1.48
$
1.55
$
(3.02
)
Discontinued operations
0
0
(0.03
)
Net earnings (loss) per common share assuming dilution
$
1.48
$
1.55
$
(3.05
)
(a)
Securities are not included in the table in periods when antidilutive.
(b)
Options to purchase 18.2 million, 22.1 million and 25.1 million shares for the years ended December 31, 2010, 2009 and 2008,
respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Companys common stock for each respective reporting date.
(c)
Attributable to International Paper Company common shareholders.
EX-12
5
dex12.htm
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
EXHIBIT 12
INTERNATIONAL PAPER COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(Dollar amounts in millions)
(Unaudited)
TITLE
2006
2007
2008
2009
2010
A) Earnings (loss) from continuing operations before income taxes and equity
earnings
$
3,188.0
$
1,654.0
$
(1,153.0
)(1)
$
1,199.0
(1)
$
822.0
(1)
B) Noncontrolling interests, net of taxes
(17.0
)
(24.0
)
(3.0
)
(18.0
)
(21.0
)
C) Fixed charges excluding capitalized interest
724.5
552.8
648.2
780.6
718.8
D) Amortization of previously capitalized interest
34.8
27.2
30.0
31.3
30.4
E) Equity in undistributed earnings of affiliates
(5.8
)
(10.7
)
0
(1)
0
(1)
0
(1)
F) Distributed income of equity
investees
0
0
73.0
51.0
33.0
G) Earnings (loss) from continuing operations before
income taxes and fixed charges
$
3,924.5
$
2,199.3
$
(404.8
)
$
2,043.9
$
1,583.2
Fixed Charges
H) Interest and amortization of debt expense
$
651.4
$
487.0
$
572.5
$
702.3
$
643.4
I) Interest factor attributable to rentals
60.2
55.4
65.8
72.0
69.9
J) Preferred dividends of subsidiaries
12.9
10.4
9.9
6.3
5.5
K) Capitalized interest
20.7
29.9
27.5
12.1
14.0
L) Total fixed charges
$
745.2
$
582.7
$
675.7
$
792.7
$
732.8
M) Ratio of earnings to fixed charges
5.27
3.77
2.58
2.16
N) Deficiency in earnings necessary to cover fixed
charges
$
(1,080.5
)
(1)
Beginning in 2008, earnings from continuing operations are reported before equity earnings. Therefore, equity earnings will no longer be adjusted out of
the total in line E.
Note: Dividends on International Papers preferred stock are insignificant. As a
result, for all periods presented, the ratios of earnings to fixed charges and preferred stock dividends are the same as the ratios of earnings to fixed charges.
EX-21
6
dex21.htm
LIST OF SUBSIDIARIES OF REGISTRANT
List of Subsidiaries of Registrant
EXHIBIT 21
INTERNATIONAL PAPER COMPANY
SUBSIDIARIES AS OF DECEMBER 31, 2010
The following table lists the names of certain subsidiaries of International Paper Company. The table omits names of certain subsidiaries since the
omitted subsidiaries, considered in the aggregate as a single subsidiary, would not constitute a significant subsidiary as of December 31, 2010.
U.S. Subsidiaries
State or
Jurisdiction of
Incorporation
IP Pacific Timberlands, Inc. (Including subsidiaries)
Delaware
Shorewood Packaging Corporation (Including subsidiaries)
Delaware
The Branigar Organization, Inc. (Including subsidiaries)
Illinois
Non-U.S. Subsidiaries
International Paper do Brasil Ltda. (Including subsidiaries)
Brazil
International Paper Investments (France) S.A.S. (Including subsidiaries)
France
International Paper Investments (Luxembourg) S.ar.l (Including subsidiaries)
Luxembourg
IP Singapore Holding Pte. Ltd. (Including subsidiaries)
Singapore
EX-23
7
dex23.htm
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Consent of Independent Registered Public Accounting Firm
EXHIBIT 23
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by
reference in Registration Statement No. 333-157573 on Form S-3 and Registration Statements No. 333-61335, 333-01667, 333-75235, 333-37390, 333-85830, 333-85828, 333-85826, 333-85824, 333-85822, 333-85818, 333-85820, 333-108046, 333-120293,
333-145459, 333-154522, 333-154523, 333-159336, and 333-164230 on Form S-8 of our reports dated February 25, 2011, relating to the consolidated financial statements of International Paper Company and subsidiaries (the Company), the
consolidated financial statement schedule of the Company, and the effectiveness of the Companys internal control over financial reporting, appearing in this Annual Report on Form 10-K of International Paper Company for the year ended
December 31, 2010.
Memphis, Tennessee
February 25,
2011
EX-31.1
8
dex311.htm
CERTIFICATION BY JOHN V. FARACI, CHAIRMAN AND CEO - PURSUANT TO SECTION 302
Certification by John V. Faraci, Chairman and CEO - pursuant to Section 302
Exhibit 31.1
CERTIFICATION
I, John V. Faraci, certify that:
1.
I have reviewed this annual report on Form 10-K of International Paper Company;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.
The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)
Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)
Evaluated the effectiveness of the registrants disclosure controls and procedures, and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)
Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent
fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5.
The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the
registrants auditors and the audit committee of registrants board of directors (or persons performing the equivalent functions):
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrants ability to record, process, summarize and report financial information; and
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over
financial reporting.
Date: February 25, 2011
/S / JOHN V. FARACI
John V. Faraci, Chairman and Chief Executive Officer
EX-31.2
9
dex312.htm
CERTIFICATION BY TIM S. NICHOLLS, CHIEF FINANCIAL OFFICER - PURSUANT TO SECTION
Certification by Tim S. Nicholls, Chief Financial Officer - pursuant to Section
Exhibit 31.2
CERTIFICATION
I, Tim S. Nicholls, certify that:
1.
I have reviewed this annual report on Form 10-K of International Paper Company;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.
The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)
Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)
Evaluated the effectiveness of the registrants disclosure controls and procedures, and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)
Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent
fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5.
The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the
registrants auditors and the audit committee of registrants board of directors (or persons performing the equivalent functions):
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrants ability to record, process, summarize and report financial information; and
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over
financial reporting.
Date: February 25, 2011
/S / TIM S. NICHOLLS
Tim S. Nicholls, Senior Vice President and Chief Financial Officer
EX-32
10
dex32.htm
CERTIFICATION BY CEO AND CFO - PURSUANT TO SECTION 906
Certification by CEO and CFO - pursuant to Section 906
Exhibit 32
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY
ACT OF 2002
The certification set forth below is being submitted in connection with the Annual Report of International Paper
Company (the Company) on Form 10-K for the period ending December 31, 2010 for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the Exchange Act) and
Section 1350 of Chapter 63 of Title 18 of the United States Code. John V. Faraci, Chief Executive Officer of the Company, and Tim S. Nicholls, Chief Financial Officer of the Company, each certify that, to the best of his knowledge:
(1)
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and
(2)
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
S /
JOHN V. FARACI
John V. Faraci
Chairman and Chief Executive Officer
February 25, 2011
/S /
TIM S. NICHOLLS
Tim S. Nicholls
Senior Vice President and Chief Financial Officer
February 25, 2011
This certification accompanies this Report
on Form 10-K pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the Exchange Act). Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that the Company specifically
incorporates it by reference.
A signed original of this written statement required by Section 906, or other document
authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to International Paper Company and will be retained
by International Paper Company and furnished to the Securities and Exchange Commission or its staff upon request.
EX-101.INS
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1400000000
0.50
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization expense related to intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
48000000
8000000
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ASSET RETIREMENT OBLIGATIONS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A liability and an asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. The liability is accreted over time and the asset is depreciated over the life of the related equipment or facility. International Paper's asset retirement obligations principally relate to closure costs for landfills. Revisions to the liability could occur due to changes in the estimated costs or timing of closures, or possible new federal or state regulations affecting these closures. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with potential future closures or redesigns of certain production facilities, it is possible that the Company may be required to take steps to remove certain materials from these facilities. Applicable regulations and standards provide that the removal of certain materials would only be required if the facility were to be demolished or underwent major renovations. At this time, any such obligations have an indeterminate settlement date, and the Company believes that adequate information does not exist to apply an expected-present-value technique to estimate any such potential obligations. Accordingly, the Company does not record a liability for such remediation until a decision is made that allows reasonable estimation of the timing of such remediation. </font></p> </div>
2500000000
<div>
<div>
<div><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 1 SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>NATURE OF BUSINESS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper (the Company) is a global paper and packaging company that is complemented by an extensive North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Substantially all of our businesses have experienced, and are likely to continue to experience, cycles relating to available industry capacity and general economic conditions.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FINANCIAL STATEMENTS </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States that require the use of management's estimates. Actual results could differ from management's estimates.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>CONSOLIDATION </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The consolidated financial statements include the accounts of International Paper and its wholly-owned, controlled majority-owned and financially controlled subsidiaries. All significant intercompany balances and transactions are eliminated. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper accounts for its investment in Ilim Holding S.A. (Ilim), a separate reportable industry segment, using the equity method of accounting. Due to the complex organizational structure of Ilim's operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the Company reports its share of Ilim's operating results on a one-quarter lag basis. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Investments in affiliated companies where the Company has significant influence over their operations are accounted for by the equity method. International Paper's share of affiliates' earnings totaled earnings of $<font class="_mt">64</font> million, a loss of $49 million and earnings of $<font class="_mt">49</font> million in 2010, 2009 and 2008, respectively</font></p>
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<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>REVENUE RECOGNITION </b></font></p>
<div class="MetaData">
<div class="MetaData">
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Revenue is recognized when the customer takes title and assumes the risks and rewards of ownership. Revenue is recorded at the time of shipment for terms designated f.o.b. (free on board) shipping point. For sales transactions designated f.o.b. destination, revenue is recorded when the product is delivered to the customer's delivery site, when title and risk of loss are transferred. Timber and forestland sales revenue is generally recognized when title and risk of loss pass to the buyer.</font></p></div></div></div></div></div>
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<div>
<div class="MetaData">
<div class="MetaData">
<div> </div></div></div></div></div></div></div><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font> </div>
<div><font style="font-family: ARIAL;" class="_mt" size="1"><b>ALTERNATIVE FUEL MIXTURE CREDITS – COST OF PRODUCTS SOLD </b></font></div></div></div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The U.S. Internal Revenue Code provided a tax credit for companies that use alternative fuel mixtures to produce energy to operate their businesses. As these credits represent a reduction of energy costs at the Company's U.S. manufacturing facilities, the credits are included as a reduction of Cost of products sold in 2009 in the accompanying consolidated statement of operations. See Alternative Fuel Mixture Credits in Note 4 for a further discussion of these credits.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SHIPPING AND HANDLING COSTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Shipping and handling costs, such as freight to our customers' destinations, are included in distribution expenses in the consolidated statement of operations. When shipping and handling costs are included in the sales price charged for our products, they are recognized in net sales.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ANNUAL MAINTENANCE COSTS </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Costs for repair and maintenance activities are expensed in the month that the related activity is performed under the direct expense method of accounting.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>TEMPORARY INVESTMENTS </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Temporary investments with an original maturity of three months or less are treated as cash equivalents and are stated at cost, which approximates market.</font></p></div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INVENTORIES </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Inventories are valued at the lower of cost or market and include all costs directly associated with manufacturing products: materials, labor and manufacturing overhead. In the United States, costs of raw materials and finished pulp and paper products are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost methods.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PLANTS, PROPERTIES AND EQUIPMENT </b></font></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Plants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are capitalized, whereas normal repairs and maintenance are expensed as incurred. The units-of-production method of depreciation is used for major pulp and paper mills, and the straight-line method is used for other plants and equipment. Annual straight-line depreciation rates are, for buildings – 2 1/2% to 8 1/2%, and for machinery and equipment – <font class="_mt">5</font>% to <font class="_mt">33</font>%.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"> </p><font style="font-family: ARIAL;" class="_mt" size="1"><b>FORESTLANDS </b></font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, International Paper and its subsidiaries owned or managed approximately <font class="_mt">250,000</font> acres of forestlands in Brazil, and through licenses and forest management agreements, had harvesting rights on government-owned forestlands in Russia. Costs attributable to timber are charged against income as trees are cut. The rate charged is determined annually based on the relationship of incurred costs to estimated current merchantable volume. </font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;">
</p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p><font style="font-family: ARIAL;" class="_mt" size="1"><b>GOODWILL </b></font>
<p> </p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Goodwill relating to a single business reporting unit is included as an asset of the applicable segment, while goodwill arising from major acquisitions that involve multiple business segments is classified as a corporate asset for segment reporting purposes. For goodwill impairment testing, this goodwill is allocated to reporting units. Annual testing for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim testing performed when management believes that it is more likely than not events or circumstances have occurred that would result in the impairment of a reporting unit's goodwill. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In performing this testing, the Company estimates the fair value of its reporting units using the projected future cash flows to be generated by each unit over the estimated remaining useful operating lives of the unit's assets, discounted using the estimated cost of capital for each reporting unit. These estimated fair values are then analyzed for reasonableness by comparing them to historic market transactions for businesses in the industry, and by comparing the sum of the reporting unit fair values and other corporate assets and liabilities divided by diluted common shares outstanding to the Company's traded stock price on the testing date. For reporting units whose recorded value of net assets plus goodwill is in excess of their estimated fair values, the fair values of the individual assets and liabilities of the respective reporting units are then determined to calculate t
he amount of any goodwill impairment charge required (see Note 8). </font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>IMPAIRMENT OF LONG-LIVED ASSETS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable, measured by comparing their net book value to the undiscounted projected future cash flows generated by their use. Impaired assets are recorded at their estimated fair value (see Note 6).</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INCOME TAXES </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper uses the asset and liability method of accounting for income taxes whereby deferred income taxes are recorded for the future tax consequences attributable to differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets and liabilities are remeasured to reflect new tax rates in the periods rate changes are enacted. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper records its worldwide tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Where the Company believes that a tax position is supportable for income tax purposes, the item is included in its income tax returns. Where treatment of a position is uncertain, liabilities are recorded based upon the Company's evaluation of the "more likely than not" outcome considering the technical merits of the position based on specific tax regulations and the facts of each matter. Changes to recorded liabilities are made only when an identifiable event occurs that changes the likely outcome, such as settlement with the relevant tax authority, the expiration of statutes of limitation for the subject tax year, a change in tax laws, or a recent court case that addresses the matter. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">While the judgments and estimates made by the Company are based on management's evaluation of the technical merits of a matter, assisted as necessary by consultation with outside consultants, historical experience and other assumptions that management believes are appropriate and reasonable under current circumstances, actual resolution of these matters may differ from recorded estimated amounts, resulting in charges or credits that could materially affect future financial statements. </font></p></div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>STOCK-BASED COMPENSATION </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Compensation costs resulting from all stock-based compensation transactions are measured and recorded in the consolidated financial statements based on the grant-date fair value of the equity or liability instruments issued. In addition, liability awards are remeasured each reporting period. Compensation cost is recognized over the period that an employee provides service in exchange for the award.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ENVIRONMENTAL REMEDIATION COSTS </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Costs associated with environmental remediation obligations are accrued when such costs are probable and reasonably estimable. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ASSET RETIREMENT OBLIGATIONS </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A liability and an asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. The liability is accreted over time and the asset is depreciated over the life of the related equipment or facility. International Paper's asset retirement obligations principally relate to closure costs for landfills. Revisions to the liability could occur due to changes in the estimated costs or timing of closures, or possible new federal or state regulations affecting these closures. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with potential future closures or redesigns of certain production facilities, it is possible that the Company may be required to take steps to remove certain materials from these facilities. Applicable regulations and standards provide that the removal of certain materials would only be required if the facility were to be demolished or underwent major renovations. At this time, any such obligations have an indeterminate settlement date, and the Company believes that adequate information does not exist to apply an expected-present-value technique to estimate any such potential obligations. Accordingly, the Company does not record a liability for such remediation until a decision is made that allows reasonable estimation of the timing of such remediation.</font></p></div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>TRANSLATION OF FINANCIAL STATEMENTS </b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Balance sheets of international operations are translated into U.S. dollars at year-end exchange rates, while statements of operations are translated at average rates. Adjustments resulting from financial statement translations are included as cumulative translation adjustments in Accumulated other comprehensive loss.</font></p></div> </div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FINANCIAL STATEMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States that require the use of management's estimates. Actual results could differ from management's estimates. </font></p> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.30</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Health care cost trend rate assumed for next year</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate that the cost trend rate gradually declines to</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.00</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Year that the rate reaches the rate it is assumed to remain</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2017</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2017</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
463000000
65000000
1000000
5000000
8000000
11000000
5000000
85000000
28000000
54000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="87%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and temporary investments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">655</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inventory</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">568</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other current assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4,816</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">445</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred charges and other assets</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">63</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total assets acquired</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,625</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts payable and accrued liabilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">463</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other liabilities</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">85</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total liabilities assumed</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">548</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net assets acquired</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,077</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and temporary investments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>71</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inventory</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>24</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other current assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>102</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax asset</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other intangible assets</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total assets acquired</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>283</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts payable and accrued liabilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>65</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-controlling interest</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total liabilities assumed</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>78</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net assets acquired</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>205</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table> </div>
1000000
1000000
0
0
1
37000000
5000000
50000000
1.01
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>186</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">168</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of foreign currency exchange rate movements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(5</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>183</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">186</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>150</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">115</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actual return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of foreign currency exchange rate movements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>156</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">150</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(36</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current asset</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(38</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(46</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(36</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income (pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss (gain)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div>
<div> <div class="MetaData">
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Fair Value Measurements Using Significant </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Unobservable Inputs (Level 3) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="45%"> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
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<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equities-</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Domestic</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equities-</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>International</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fixed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Common</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Collective</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Corporate</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Bonds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Government</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Securities</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Mortgage</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Backed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Securities</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Other</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fixed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Comm-<br />odities</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Hedge</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Private</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equity</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Real</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Estate</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Deriv-<br />atives</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Beginning balance at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"> 668</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">344</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">457</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,150</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Actual return on plan assets:</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Relating to assets still held at the reporting date</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>43</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>68</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>210</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Relating to assets sold during the period</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>65</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Purchases, sales and settlements</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(18</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(18</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>150</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(64</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>68</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Transfers in and/or out of Level 3 (a)</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(175</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(176</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Ending balance at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>234</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>662</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>415</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>650</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>338</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,322</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Transferred out of Level 3 to Level 2 because market data for these securities was observable. </i></font></p></td></tr></table></div> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,544</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,275</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>116</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>264</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">134</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(646</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(617</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special termination benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plan amendments</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,824</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,544</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,784</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,079</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actual return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,019</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,287</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,187</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(646</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(617</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,784</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,480</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,760</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top" colspan="8">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet:</font></p></td>
<td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(41</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,444</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,719</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,480</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,760</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,412</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,712</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>183</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">206</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,595</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,918</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
22000000
11000000
11000000
10000000
36000000
18000000
18000000
15000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="79%"> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom" colspan="6" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Common Stock</font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In thousands</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Issued</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Treasury</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at January 1, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">493,556</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">68,436</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Issuance of stock for various plans, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,840</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Repurchase of stock</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,462</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Retirement of treasury stock</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(60,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(60,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">433,556</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,058</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Issuance of stock for various plans, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,466</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,484</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Repurchase of stock</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,288</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">437,022</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,862</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Issuance of stock for various plans, net</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,849</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,796</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Repurchase of stock</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,168</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at December 31, 2010</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>438,871</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,234</b></font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Postretirement benefit accruals</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>256</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">301</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pension obligations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>616</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,104</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative minimum and other tax credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>416</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">192</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net operating loss carryforwards</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Compensation reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>185</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">238</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>268</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">265</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross deferred tax assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,282</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,634</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: valuation allowance</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(366</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(346</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net deferred tax assets</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,916</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,288</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax liabilities:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,099</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forestlands and related installment sales</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,061</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,045</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross deferred tax liabilities</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4,235</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4,144</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net deferred tax liability</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,319</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,856</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special items and other charges:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and other charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(159</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative fuel mixture credit</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Redemption of Arizona Chemical interest</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax-related adjustments:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Incentive plan deferred tax write-off</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Medicare D deferred tax write-off</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>32</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valuation allowance for net deferred tax assets in France</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">156</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlement of federal tax audits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valuation allowance for Louisiana recycling credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring of international operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Impairment of certain non-U.S. assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cellulosic bio-fuel credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(40</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax on Ilim joint venture gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other tax adjustments</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision (benefit) related to special items</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(143</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">279</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(207</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div>
0
0
143000000
113000000
16000000
62000000
35000000
2000000
21000000
11000000
8000000
185000000
25000000
46000000
102000000
118000000
58000000
36000000
4000000
5000000
35000000
18000000
21000000
13000000
13000000
1500000000
0.005
0.004
10000000
August 2009
0.073
5100000000
542000000
5700000000
14000000
1000000
0
238000000
185000000
2000000
41000000
2000000
36000000
0.056
0.0825
0.0375
0
-1100000
-800000
-1000000
-2000000
1000000
29000000
22000000
-4000000
12000000
-617000000
-114000000
7000000
-646000000
-110000000
0.32
0.31
47000000
48000000
40000000
3000000000
10000000
-11000000
-483000000
-70000000
1000000
-92000000
5000000
179000000
500
11000000
10000000
9312000000
34000000
9594000000
6784000000
2000000
8344000000
2000000
-2000000
9
0.4
0.3
0
0
1150000000
1150000
1347000000
218000000
136000000
17000000
7000000
452000000
517000000
1472000000
210000000
117000000
14000000
6000000
678000000
447000000
1456000000
228000000
134000000
13000000
5000000
597000000
479000000
0.085
0.33
0.025
0.05
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell / Buy</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell Notional</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Sell Notional</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. dollar / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>74</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">265</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">British pounds / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Polish zloty</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>223</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">164</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="11%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="11%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell / Buy</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell Notional</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Sell Notional</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. dollar / European euro</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>109</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">108</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / British pounds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Polish zloty</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / U.S. dollar</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>85</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">South Korean won / U.S. dollar</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,076</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,629</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
4000000
4000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expense/(Income):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div>
130000000
28000000
75000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ENVIRONMENTAL REMEDIATION COSTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Costs associated with environmental remediation obligations are accrued when such costs are probable and reasonably estimable. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable. </font></p> </div>
199000000
75000000
39000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="44%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="16" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value Measurement at December 31, 2010</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Asset Class</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quoted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Prices</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">in</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Active</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Markets</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">For</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Identical</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 1)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Significant</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Observable</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Inputs</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 2)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Significant</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Unobservable</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Inputs</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 3)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equities - domestic</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,921</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">860</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equities - international</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,317</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,005</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">312</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Common collective funds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">305</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">291</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate bonds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">817</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">817</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Government securities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">936</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">936</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Mortgage backed securities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other fixed income</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Commodities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">264</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">234</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Hedge funds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">681</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">662</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Private equity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">415</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">415</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Real estate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Derivatives</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">349</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">338</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and cash equivalents</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">465</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">460</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total Investments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,880</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4,142</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,322</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table> </div>
39000000
24000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6.01</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.07</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4.06</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="92%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment effects</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlement gain</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net periodic pension expense</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6.45%</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.37%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.40%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.20%</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.88%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.87%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4.06%</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.81%</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.55%</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
757000000
747000000
1500000
250000
5600000
163000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FORESTLANDS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, International Paper and its subsidiaries owned or managed approximately 250,000 acres of forestland in Brazil, and through licenses and forest management agreements, had harvesting rights on government-owned forestlands in Russia. Costs attributable to timber are charged against income as trees are cut. The rate charged is determined annually based on the relationship of incurred costs to estimated current merchantable volume. </font></p> </div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ALTERNATIVE FUEL MIXTURE CREDITS – COST OF PRODUCTS SOLD </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The U.S. Internal Revenue Code provided a tax credit for companies that use alternative fuel mixtures to produce energy to operate their businesses. As these credits represent a reduction of energy costs at the Company's U.S. manufacturing facilities, the credits are included as a reduction of Cost of products sold in 2009 in the accompanying consolidated statement of operations. See Alternative Fuel Mixture Credits in Note 4 for a further discussion of these credits. </font></p> </div>
140000000
3332000000
590000000
611000000
884000000
726000000
2726000000
1000000
3000000
2000000
25000000
1000000
0
0
0
10000000
15000000
1000000
-1000000
25000000
2000000
22000000
3429000000
1664000000
0
0
1765000000
3429000000
1664000000
0
0
1765000000
3429000000
1664000000
0
0
1765000000
5456000000
1766000000
399000000
989000000
2302000000
5719000000
1765000000
400000000
1131000000
2423000000
5737000000
1768000000
400000000
1151000000
2418000000
<div> <div class="MetaData">
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>GOODWILL </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">Goodwill relating to a single business reporting unit is included as an asset of the applicable segment, while goodwill arising from major acquisitions that involve multiple business segments is classified as a corporate asset for segment reporting purposes. For goodwill impairment testing, this goodwill is allocated to reporting units. Annual testing for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim testing performed when management believes that it is more likely than not that events or circumstances have occurred that would result in the impairment of a reporting unit's goodwill. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In performing this testing, the Company estimates the fair value of its reporting units using the projected future cash flows to be generated by each unit over the estimated remaining useful operating lives of the unit's assets, discounted using the estimated cost of capital for each reporting unit. These estimated fair values are then analyzed for reasonableness by comparing them to historic market transactions for businesses in the industry, and by comparing the sum of the reporting unit fair values and other corporate assets and liabilities divided by diluted common shares outstanding to the Company's traded stock price on the testing date. For reporting units whose recorded value of net assets plus goodwill is in excess of their estimated fair values, the fair values of the individual assets and liabilities of the respective reporting units are then determined to calculate t
he amount of any goodwill impairment charge required (see Note 8). </font></p></div> </div>
148000000
0
0
2000000
146000000
22000000
3000000
0
-3000000
22000000
115000
5
10
3
21000000
12000000
-23000000
0
0
84000000
48000000
8000000
2000000
2000000
0
0
14000000
-2000000
23000000
15000000
0
-26000000
26000000
0
369000000
190000000
364000000
0.315
0.3
0.3
0
650000000
0
207000000
-279000000
143000000
0
133000000
0
0
0
40000000
4000000
16000000
0
3000000
2000000
2000000
-622000000
0
0
1600000000
0
2700000
4400000
0
0
0
39
16
492000000
669000000
608000000
1000000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Raw materials</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>419</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">307</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Finished pulp, paper and packaging products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,505</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,443</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Operating supplies</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>364</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">377</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>59</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Inventories</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,347</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,179</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
29000000
0
0
8729000000
8358000000
1000000000
877000000
0
0
32000000
-106000000
-59000000
2000000
23000000
25000000
15000000
1000000000
100000000
520000000
700000000
2000000
100000000
13
1675
3175
1650
1388
2
241000000
106000000
135000000
0
371000000
14000000
13000000
344000000
-1000000
-2000000
-13000000
-5000000
-1800000000
-9000000
318000000
-19000000
92000000
-26000000
-26000000
0
0
0
-26000000
0
0
19000000
19000000
0
0
0
19000000
0
0
-4000000
-4000000
0
0
0
-4000000
0
0
1000000
3000000
3000000
2000000
-1857000000
-1857000000
0
0
0
-1857000000
0
0
351000000
351000000
0
0
0
351000000
0
0
85000000
85000000
0
0
0
85000000
0
0
1128000000
259000000
54000000
<div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service credits</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(29</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(38</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net postretirement benefit expense (a)</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Excludes $<font class="_mt">0.8</font> million of curtailment gains in 2008 and $<font class="_mt">2.8</font> million and $<font class="_mt">0.5</font> million of termination benefits in 2009 and 2008, respectively, related to cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations. </i></font></p></td></tr></table></div> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Payments</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Subsidy</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Receipts</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">59</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2016 – 2020</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
46000000
48000000
-2000000
23000000
5000000
3000000
3000000
4000000
4000000
4000000
2000000
-2000000
14000000
3000000
2000000
0
4000000
3000000
2000000
1000000
2000000
18000000
0
87000000
38000000
2000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="78%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>473</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">596</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Participants' contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(110</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(114</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: Federal subsidy</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plan amendments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special termination benefits</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>62</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Participants' contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(110</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(114</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet under ASC 715:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(377</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(427</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income under ASC 715:<br />(pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>66</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">99</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service credit</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(60</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(91</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom">
<p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service credit</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="89%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment effects</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(123</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year prior service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(323</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="89%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">628</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">622</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">624</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">630</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">639</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2016 – 2020</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,348</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="62%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Asset Class</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Target</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Allocations</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equity accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>49</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">40% - 51%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fixed income accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">30% - 40%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Real estate accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">7% - 13%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">9% - 18%</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>100</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">100</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Projected benefit obligation</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,824</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,544</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated benefit obligation</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,594</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,312</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,784</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
0.5
0.2
5100000000
5100000000
542000000
4
4
160000000
64000000
22615000000
6348000000
22935000000
6534000000
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><a name="rom40096_51"> </a>INTERIM FINANCIAL RESULTS (UNAUDITED) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts and stock prices</i></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">st</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">nd</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">rd</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">4</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">th</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Year</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2010</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Net sales</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>5,807</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,121</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,720</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,531</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>25,179</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Gross margin (a)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,343</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,631</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,962</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,761</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,697</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(175</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>118</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>547</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>332</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>822</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b,d,e) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Net earnings (loss) attributable to International Paper Company</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(162</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>93</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>397</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>316</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>644</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Basic earnings (loss) per share attributable to International Paper Company common shareholders</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(0.38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.22</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.92</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.74</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Diluted earnings (loss) per share attributable to International Paper Company common shareholders</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(0.38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.91</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.73</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1.48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Dividends per share of common stock</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.025</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Common stock prices</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>High</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>28.61</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>29.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>25.79</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>27.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>29.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Low</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>21.66</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>20.50</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>19.33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>21.44</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>19.33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2">2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Net sales</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,668</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,802</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,919</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,977</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">23,366</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Gross margin (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1,937</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,021</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,161</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,027</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">8,146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings (loss) from continuing operations before income taxes and</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">equity earnings</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">518</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">520</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">589</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(428</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1,199</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g,h,j,k) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Net earnings (loss) attributable to International Paper Company</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">371</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(101</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Basic earnings (loss) per share attributable to International Paper Company common shareholders</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.61</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(0.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1.56</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Diluted earnings (loss) per share attributable to International Paper Company common shareholders</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.61</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(0.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1.55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Dividends per share of common stock</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.325</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Common stock prices</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2">High</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">12.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">15.96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">25.30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">27.79</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">27.79</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2">Low</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3.93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">6.80</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">13.82</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">20.38</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3.93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>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. </i></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Footnotes to Interim Financial Results </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(a)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(b)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $204 million ($124 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $190 million of accelerated depreciation), a pre-tax charge of $4 million ($2 million after taxes) for early debt extinguishment costs, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations and charges of $4 million, before and after taxes, for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(c)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes after-tax charges of $14 million and $32 million for tax adjustments related to incentive compensation and postretirement prescription drug coverage, respectively. </font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(d)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $111 million ($68 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $46 million of accelerated depreciation and $36 million of environmental closure costs), a pre-tax charge of $18 million ($11 million after taxes) for early debt extinguishment costs, a pre-tax charge of $11 million ($7 million after taxes) for an Ohio Commercial Activity tax adjustment and charges of $4 million ($2 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(e)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $18 million ($11 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $12 million ($7 million after taxes) for closure costs related to the Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $13 million ($8 million after taxes) for early debt extinguishment costs, a pre-tax charge of $5 million ($3 million after taxes) for severance and benefit costs associated with the Company's S&A reduction initiative, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the shutdown of three box plants in Asia, a pre-tax gain of $25 million ($15 million after taxes) related to the partial redemption of the Company's inte
rest in Arizona Chemical, a charge of $2 million, before and after taxes, for asset impairment costs associated with the Inverurie, Scotland mill which was closed in 2009 and a net pre-tax gain of $2 million ($1 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(f)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a tax benefit of $40 million related to cellulosic bio-fuel tax credits. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(g)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $540 million ($330 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $36 million ($22 million after taxes) for integration costs associated with the Containerboard, Packaging and Recycling business (CBPR) acquired in August 2008, a pre-tax charge of $52 million ($32 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $23 million ($28 million after taxes) for closure costs associated with the Inverurie, Scotland mill, a pre-tax charge of $6 million ($4 million after taxes) for shutdown costs associated with the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center, and a pre-tax charge of $2 million ($1 million after taxes) for shutdown costs associated with the reorganization of the Company's Shorewood operations. </font></p>
</td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(h)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $482 million ($294 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $34 million ($21 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $25 million ($16 million after taxes) for early debt extinguishment costs, a charge of $15 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $48 million, before and after taxes, to write down the assets of the Etienne mill to estimated fair value and a pre-tax charge of $5 million ($3 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(i)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a $156 million tax expense for the write-off of deferred tax assets in France and a $26 million tax benefit related to the settlement of the 2004 and 2005 U.S. federal income tax audit and related income tax effects. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(j)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $525 million ($320 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $39 million ($24 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $102 million ($62 million after taxes) for early debt extinguishment costs, a charge of $7 million, before and after taxes, for costs associated with the planned closure of the Etienne mill in France, and a pre-tax charge of $3 million ($2 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="4%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(k)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $516 million ($469 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $15 million ($10 million after taxes) for integration costs associated with the CBPR acquisition, pre-tax charges of $469 million ($286 million after taxes), $290 million ($177 million after taxes) and $102 million ($62 million after taxes) for shutdown costs for the Albany, Oregon, Franklin, Virginia, and Pineville, Louisiana mills, respectively, a pre-tax charge of $82 million ($50 million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $23 million ($15 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $58 million ($35 million after taxes) for early debt extinguishment costs, a charge of $9 million, before and after taxes, for seve
rance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $8 million to write down the assets at the Etienne mill to estimated fair value, pre-tax charges of $5 million ($3 million after taxes) and $2 million ($1 million after taxes) for costs associated with the reorganization of the Company's xpedx and Shorewood operations, respectively, and a pre-tax charge of $3 million ($0 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="4%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(l)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a $15 million write-off of a deferred tax asset for a recycling tax credit in the state of Louisiana. </font></p></td></tr></table> </div>
<div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>644</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of dilutive securities (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations – assuming dilution</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>644</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">663</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,269</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Average common shares outstanding</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>429.8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">425.3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">421.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of dilutive securities Restricted performance share plan (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4.4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2.7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Stock options (b)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Average common shares outstanding – assuming dilution</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>434.2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">428.0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">421.0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Basic earnings (loss) per common share<br />from continuing operations</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1.50</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1.56</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.02</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Diluted earnings (loss) per common share<br />from continuing operations</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1.48</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1.55</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.02</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Securities are not included in the table in periods when antidilutive. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Options to purchase <font class="_mt">18.2</font> million, <font class="_mt">22.2</font> million and <font class="_mt">25.1</font> million shares for the years ended December 31, 2010, 2009 and 2008, respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company's common stock for each respective reporting date. </i></font></p></td></tr></table></div> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Statutory U.S. income tax rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax expense (benefit) using statutory U.S. income tax rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>288</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">420</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(404</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State and local income taxes</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax rate and permanent differences on non-U.S. earnings</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(69</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net U.S. tax on non-U.S. dividends</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>16</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax benefit on export sales and manufacturing activities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-deductible business expenses</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Sales of non-strategic assets and goodwill impairments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">622</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Retirement plan dividends</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative fuel mixture credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(133</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cellulosic bio-fuel credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(40</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Medicare subsidy</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>29</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax audits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other, net</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>221</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Effective income tax rate</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">)% </font></td></tr></table> </div>
6000000
24000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ANNUAL MAINTENANCE COSTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Costs for repair and maintenance activities are expensed in the month that the related activity is performed under the direct expense method of accounting. </font></p> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Shares</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Grant Date</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">122,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28.34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(35,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38.91</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.70</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11.80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(20,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.49</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.93</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>177,000</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25.63</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shares issued</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(92,500</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30.69</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>167,500</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>26.95</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table> </div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="53%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">First</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Second</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Third</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fourth</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(a) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">89</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">179</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">97</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges related to the closure of the Ace Packaging business. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $71 million of accelerated depreciation charges, $32 million of severance charges, $11 million of environmental expenses and $9 million of other charges related to the shutdown of the Bastrop, Louisiana mill, and $23 million of accelerated depreciation charges, $6 million of severance charges and $1 million of other charges related to the shutdown of a paper machine at the Franklin, Virginia mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $22 million of severance charges, $7 million of accelerated depreciation charges and $1 million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table> </div>
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><font size="2" class="_mt"> </font> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="51%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>First</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Second</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Third</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fourth</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaing</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">662<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a,b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">684</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">c,d)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">223<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">69<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">f,g)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">59</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">141</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">81</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">333</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">79</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">151</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,040</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $19 million of severance charges and $12 million of other charges related to the shutdown of the Etienne mill in France. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $82 million of accelerated depreciation and other noncash charges, $9 million of severance charges, $10 million of environmental charges and $1 million of other charges related to the shutdown of the Pineville, Louisiana mill; $438 million of accelerated depreciation and other noncash charges, $21 million of severance charges and benefit costs, $9 million of environmental charges and $1 million of other charges related to the shutdown of the Albany, Oregon mill; and $81 million of accelerated depreciation and other noncash charges and $1 million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $17 million of severance charges and $6 million of other charges related to the shutdown of the Inverurie mill in Scotland. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $5 million of severance charges and $3 million of other charges related to the shutdown of the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center and $3 million of charges related to the shutdown of the Bastrop, Louisiana mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $199 million of accelerated depreciation and other noncash charges, $23 million of severance charges and $1 million of other charges related to the shutdown of the Franklin, Virginia mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $3 million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $59 million of accelerated depreciation charges and other noncash charges, $7 million of severance charges and $1 million of other charges related to the shutdown of the Franklin, Virginia mill.</i></font></p></td></tr></table></div> </div>
<div>
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="54%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>First</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Second</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Third</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fourth</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Industrial Packaging</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a,b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(b)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Printing Papers</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>204<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>111<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Consumer Packaging</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3 <sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1 <sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Corporate</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>52</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>215</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>144</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $2 million of other charges related to the shutdown of the Pineville, Louisiana mill and $1 million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $3 million of severance charges related to the shutdown of the Etienne mill in France. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes a gain of $2 million related to the shutdown of the Albany, Oregon mill; a $3 million charge to write down the value of land, $2 million of accelerated depreciation and $2 million of severance charges related to the closure of the Bellevue, Washington container facility; $1 million of accelerated depreciation, $2 million of severance charges and $2 million of other charges related to the closure of the Spartanburg, South Carolina container facility; and $2 million of severance charges and $1 million of other costs related to the closure of certain of the Company's Asian box plants. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $236 million of accelerated depreciation, $36 million of environmental closure costs, $30 million of severance charges and $13 million of other charges related to the shutdown of the Franklin, Virginia mill </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $3 million of accelerated depreciation, $1 million of severance charges and $4 million of other charges related to the reorganization of the Company's Shorewood operations.</i></font></p></td></tr></table></div></div> </div>
-175000000
-534000000
-159000000
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="65%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Before-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">After-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Bastrop, Louisiana mill – shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Legal reserve adjustments (see Note 10)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 overhead reduction program – severance and benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Write-off of supply chain initiative development costs for U.S. container operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Franklin, Virginia mill – paper machine shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shorewood Packaging Canada – restructuring costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Ace Packaging – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">227</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div> </div>
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><strong><font size="2" class="_mt"> </font></strong> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Before-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">After-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Albany, Oregon containerboard mill – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">286</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Franklin, Virginia paper mill and associated operations – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">290</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Early debt extinguishment costs (see Notes 12 and 13)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">185</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">113</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 overhead reduction program – severance and benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">92</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pineville, Louisiana containerboard mill – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valliant, Oklahoma containerboard mill – paper machine shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Etienne mill – severance and other costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inverurie mill – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">853</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div> </div>
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="78%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Before-Tax</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>After-Tax</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Franklin, Virginia mill – closure costs</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 192</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Early debt extinguishment costs (see Notes 12 and 13)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Write-off of Ohio Commercial Activity tax receivable</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shorewood Packaging reorganization</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Bellevue, Washington container facility – closure costs</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>S&A reduction initiative</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Spartanburg, South Carolina container facility – closure costs</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Etienne mill – severance and other costs</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Other</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 242</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px; font-size: 1px;"> </p></div> </div>
42000000
5000000
37000000
0
0
1000000
370000000
30000000
179000000
0
0
8000000
153000000
370000000
30000000
179000000
8000000
153000000
13000000
13000000
0
0
0
1000000
97000000
8000000
89000000
0
0
1000000
218000000
4000000
53000000
8000000
153000000
1000000
4000000
9000000
1000000
83000000
2000000
52000000
0
0
29000000
3000000
3000000
3000000
6000000
1353000000
74000000
333000000
5000000
0
684000000
257000000
1353000000
74000000
333000000
5000000
684000000
257000000
79000000
1000000
59000000
0
15000000
4000000
3000000
12000000
3000000
3000000
151000000
2000000
141000000
0
7000000
1000000
3000000
12000000
3000000
3000000
1040000000
69000000
81000000
5000000
662000000
223000000
1000000
3000000
1000000
12000000
1000000
1000000
1000000
215000000
3000000
3000000
5000000
204000000
4000000
2000000
1000000
13000000
394000000
8000000
52000000
0
0
19000000
315000000
394000000
8000000
52000000
19000000
315000000
144000000
1000000
31000000
1000000
111000000
4000000
13000000
0
0
0
0
0
35000000
4000000
18000000
13000000
0
4000000
1000000
2000000
7000000
7000000
7000000
7000000
2000000
71000000
23000000
2000000
2000000
2000000
59000000
2000000
438000000
82000000
81000000
199000000
190000000
3000000
236000000
46000000
3000000
236000000
3000000
2000000
1000000
11000000
9000000
10000000
36000000
36000000
36000000
18000000
11000000
75000000
47000000
30000000
2000000
2000000
5000000
3000000
8000000
4000000
19000000
1000000
1000000
3000000
2000000
5000000
3000000
6000000
4000000
53000000
33000000
11000000
11000000
7000000
7000000
227000000
853000000
242000000
8000000
123000000
30000000
6000000
23000000
469000000
290000000
23000000
102000000
82000000
7000000
469000000
290000000
102000000
82000000
204000000
7000000
315000000
5000000
111000000
3000000
12000000
5000000
75000000
18000000
4000000
28000000
286000000
177000000
28000000
62000000
50000000
7000000
286000000
177000000
62000000
50000000
124000000
4000000
192000000
3000000
68000000
2000000
7000000
31000000
15000000
9000000
3000000
32000000
31000000
15000000
9000000
3000000
-40000000
0
0
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest payments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>657</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">656</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">597</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current tax provision (benefit)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(249</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">228</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">159</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. state and local</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>67</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">86</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(201</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">309</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">243</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax provision (benefit)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>301</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(63</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. state and local</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">41</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>76</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">182</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(39</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>422</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">160</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(81</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>221</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="43%"> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td width="30%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="10" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Gain or (Loss)</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Recognized in OCI</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Location of Gain or</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Loss) Reclassified</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">from OCI into Income</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="10" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Gain) or Loss</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Reclassified from</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">OCI into Income</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense, net</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fuel oil contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Natural gas contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">51</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(34</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(42</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(19</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(51</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(106</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">54</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(55</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="59%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Estimated</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Remaining</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Useful Life</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Asset Class:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(at acquisition<br />date</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> <br />) </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tradenames</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 12 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Patented technology</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 12 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Proprietary software</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 5 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Power agreements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1 - 7 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Water rights</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Indefinite</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">65</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table> </div>
<div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="48%"> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Thereafter</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Lease obligations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">135</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">110</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Purchase obligations (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,564</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">749</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">616</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">524</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">515</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,174</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,726</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">884</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">726</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">611</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">590</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,332</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2.3</font> billion relating to fiber supply agreements entered into at the time of the Company's 2006 Transformation Plan forestland sales. </i></font></p></td></tr></table></div> </div>
<div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Options</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(a,b)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Exercise</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Price</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Remaining</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Life</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(years)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Aggregate</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Intrinsic</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Value</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(thousands)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28,013,735</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,115</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Exercised</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14,800</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31.55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(189,158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">43.44</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expired</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,716,655</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40.83</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25,093,122</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.68</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Exercised</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(558,470</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">44.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expired</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,317,595</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22,217,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2.73</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Exercised</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(43,068</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>34.36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Expired</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,928,736</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>46.29</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18,245,253</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37.73</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2.30</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The table does not include Continuity Award tandem stock options described below. No fair market value is assigned to these options under ASC 718. The tandem restricted shares accompanying these options are expensed over their vesting period. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The table includes options outstanding under an acquired company plan under which options may no longer be granted. </i></font></p></td></tr></table></div> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S.</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>198</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">905</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,365</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>624</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">294</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">212</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INTERNATIONAL PAPER COMPANY AND CONSOLIDATED SUBSIDIARIES </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(In millions) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="36%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="13%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2010</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> <br /> </font><br />
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at<br />End of</font><br />
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> <br /> </font><br />
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>28</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(35)(a)</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>129</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>46</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(116)(b)</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="20"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2009</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">End of</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">54</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(39)(a)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">251</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(263)(b)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="20"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2008</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">End of</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">95</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(16)(a)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(31)(b)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes payments and deductions for reversals of previously established reserves that were no longer required. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Allowance for doubtful accounts acquired in the Weyerhaeuser Containerboard, Packaging and Recycling acquisition.</i></font></p></td></tr></table> </div>
103000000
181000000
226000000
179000000
333000000
70000000
1600000000
1400000000
1800000000
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="83%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Severance</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">and Other</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Opening balance (recorded first quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (second quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (third quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (fourth quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">97</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2009 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(96</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance, December 31, 2009</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div> </div>
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="81%"> </td>
<td valign="bottom" width="17%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Severance</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>and Other</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Opening balance (recorded first quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (second quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (third quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (fourth quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2009 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pension and postretirement termination benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(85</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010 activity</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cash charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(84</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance, December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div> </div>
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><font size="2" class="_mt"> </font> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="81%"> </td>
<td valign="bottom" width="17%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Severance</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>and Other</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Opening balance (recorded first quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>20</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (second quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (third quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (fourth quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010 activity</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cash charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(32</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance, December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table></div> </div>
32000000
92000000
21000000
24000000
15000000
3000000
165127
0.3383
0.6233
<div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Shares</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Grant Date</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,217,012</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,984,146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36.26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,639,012</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">41.54</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(307,890</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34.50</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,254,256</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32.69</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4,102,197</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19.10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,576,109</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(714,294</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23.41</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,066,050</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24.28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,842,626</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>28.93</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shares issued (a)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,807,388</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(288,694</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21.83</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,812,594</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23.31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes <font class="_mt">165,127</font> shares related to retirements or terminations that are held for payout until the end of the performance period. </i></font></p></td></tr></table></div> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Twelve Months Ended</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected volatility</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33.83%</b></font></font> - <font class="_mt">62.33%</font></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Risk-free interest rate</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0.26%</b></font></font> -<font class="_mt">1.49%</font></b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table> </div>
0.0026
0.0149
31.55
0
0
0.75
0.5
0.25
0.5
66000000
100000000
73000000
4.40
3.66
2.73
2.30
<div> <div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>STOCK-BASED COMPENSATION </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Compensation costs resulting from all stock-based compensation transactions are measured and recorded in the consolidated financial statements based on the grant-date fair value of the equity or liability instruments issued. In addition, liability awards are remeasured each reporting period. Compensation cost is recognized over the period that an employee provides service in exchange for the award.</font></p></div> </div>
450000000
100000000
6112000000
6862000000
150000000
3.93
3.93
6.80
13.82
20.38
21.66
19.33
20.50
19.33
21.44
12.74
27.79
15.96
25.30
27.79
28.61
29.25
29.25
25.79
27.50
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 19 SUBSEQUENT EVENT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The sale of the Company's Kraft Papers business that closed in January 2007 contained an earnout provision that could potentially require KapStone to make an additional payment to International Paper in 2012. Based on the results through the first four years of the earnout period, KapStone concluded that the threshold would be attained and the full earnout payment would be due to International Paper in 2012. On January 3, 2011, International Paper signed an agreement with KapStone to allow KapStone to pay the Company on January 4, 2011, the discounted amount of $<font class="_mt">50</font> million that otherwise would have been owed in full under the agreement in 2012. </font></p> </div>
<div>
<div><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 7 SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ACCOUNTS AND NOTES RECEIVABLE</b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Accounts and notes receivable, net of allowances, by classification were: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Trade</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,854</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,476</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>185</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">219</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,039</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,695</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;"> </p></div></div><font style="font-family: ARIAL;" class="_mt" size="1"><b>INVENTORIES </b></font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Inventories by major category were: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Raw materials</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>419</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">307</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Finished pulp, paper and packaging products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,505</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,443</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Operating supplies</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>364</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">377</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>59</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Inventories</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,347</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,179</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The last-in, first-out inventory method is used to value most of International Paper's U.S. inventories. Approximately <font class="_mt">69</font>% of total raw materials and finished products inventories were valued using this method. If the first-in, first-out method had been used, it would have increased total inventory balances by approximately $<font class="_mt">334</font> million and $<font class="_mt">306</font> million at December 31, 2010 and 2009, respectively. </font></p>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PLANTS, PROPERTIES AND EQUIPMENT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Plants, properties and equipment by major classification were: </font></p></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="72%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pulp, paper and packaging facilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Mills</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>22,935</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22,615</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging plants</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,534</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,348</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other plants, properties and equipment</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,524</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,542</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30,993</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30,505</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: Accumulated depreciation</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18,991</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17,817</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Plants, properties and equipment, net</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12,002</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12,688</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Depreciation expense was $<font class="_mt">1.4</font> billion for each of the years ended December 31, 2010 and 2009, and $<font class="_mt">1.3</font> billion for the year ended December 31, 2008. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INTEREST </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Cash payments related to interest were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest payments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>657</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">656</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">597</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Amounts related to interest were as follows: </font></p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>643</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">702</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">572</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest income (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Capitalized interest costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Interest expense and interest income exclude approximately $<font class="_mt">44</font> million, $<font class="_mt">117</font> million and $<font class="_mt">233</font> million in 2010, 2009 and 2008, respectively, related to investments in and borrowings from variable interest entities for which the Company has a legal right of offset (see Note 11). </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SALE OF FORESTLANDS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">On September 23, 2010, the Company finalized the sale of <font class="_mt">163,000</font> acres of properties located in the southeastern United States to an affiliate of Rock Creek Capital (the Partnership) for $<font class="_mt">199</font> million, resulting in a $<font class="_mt">50</font> million pre-tax gain ($<font class="_mt">31</font> million after taxes), after expenses. Cash of $<font class="_mt">160</font> million was received at closing, with the balance of $<font class="_mt">39</font> million, plus interest, to be received no later than three years from closing. In addition, the Company has received a <font class="_mt">20</font>% profits interest in the Partnership. The gain on this sale is included in Cost of products sold in the accompanying consolidated statemen
t of operations.</font></p> </div>
500000000
81000000
20000000
399000000
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>TEMPORARY INVESTMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Temporary investments with an original maturity of three months or less are treated as cash equivalents and are stated at cost, which approximates market.</font></p> </div>
80000000
70000000
17000000
-11000000
4000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(308</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(435</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(794</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions based on tax positions related to current year</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions for tax positions of prior years</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Reductions for tax positions of prior years</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>97</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">72</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">352</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expiration of statutes of limitations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Currency translation adjustment</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(11</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance at December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(199</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(308</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(435</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.60</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.75</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table> </div>
<div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>116</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">540</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(631</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(634</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(672</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">160</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net periodic pension expense (a)</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>231</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">213</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">123</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Excludes $<font class="_mt">1.1</font> million in 2008 in curtailment losses, and $<font class="_mt">83.2</font> million and $<font class="_mt">13.9</font> million in 2009 and 2008, respectively, of termination benefits, in connection with cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations. </i></font></p></td></tr></table></div> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.80</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.75</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table> </div>
29000000
120000000
54000000
251000000
28000000
46000000
900000
200000
0
15000000
15000000
0
2695000000
219000000
2476000000
3039000000
185000000
2854000000
2058000000
2556000000
17817000000
18991000000
-2077000000
-1822000000
5803000000
5829000000
115000000
227000000
17000000
136000000
129000000
24000000
40000000
10000000
1000000
36000000
34000000
31000000
48000000
8000000
156000000
26913000000
3333000000
3180000000
1881000000
903000000
10212000000
7396000000
8000000
25548000000
3000000000
3187000000
1692000000
758000000
9120000000
7791000000
0
25368000000
3025000000
3153000000
1761000000
627000000
9353000000
7449000000
0
7551000000
8028000000
14796000000
386000000
260000000
1215000000
1599000000
11336000000
13445000000
369000000
210000000
1123000000
2117000000
9626000000
12749000000
468000000
206000000
1047000000
2162000000
8866000000
6000000000
171000000
34000000
205000000
200000000
-3.23
-1348000000
-3.20
<div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="86%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net sales</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27,920</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,348</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net earnings (loss) (1)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,361</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations per common share</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net earnings (loss) per common share (1)</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.23</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(1)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Attributable to International Paper Company common shareholders.</i></font></p></td></tr></table></div> </div>
-1361000000
27920000000
65000000
38000000
6625000000
283000000
6077000000
205000000
2000000
19000000
568000000
24000000
655000000
71000000
445000000
23000000
548000000
78000000
400000000
63000000
4816000000
102000000
45000000
87000000
<div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 5 ACQUISITIONS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2010: </b>On June 30, 2010, International Paper completed the acquisition of SCA Packaging Asia (SCA) for a preliminary purchase price of $<font class="_mt">205</font> million, including $<font class="_mt">171</font> million in cash plus assumed debt of $<font class="_mt">34</font> million, subject to post-closing adjustments. The SCA packaging business in Asia consists of <font class="_mt">13</font> corrugated box plants and <font class="_mt">two</font> specialty packaging facilities, which are primarily in China, along with locations in Singapore, Malaysia and Indonesia. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table summarizes the preliminary allocation of the purchase price to the fair value of assets and liabilities acquired. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and temporary investments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>71</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inventory</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>24</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other current assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>102</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax asset</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other intangible assets</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total assets acquired</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>283</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts payable and accrued liabilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>65</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-controlling interest</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total liabilities assumed</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>78</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net assets acquired</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>205</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The purchase price allocation will be finalized in the first half of 2011. </font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify">The identifiable intangible assets acquired in connection with the SCA acquisition included the following: </p></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="59%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Estimated</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair Value</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Average</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Remaining</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Useful Life</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Asset Class:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(at acquisition<br />date)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Land-use rights</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Customer relationships</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16 years</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2008: </b>On August 4, 2008, International Paper completed the acquisition of the assets of Weyerhaeuser Company's Containerboard, Packaging and Recycling (CBPR) business for approximately $<font class="_mt">6</font> billion in cash, subject to post-closing adjustments. In June 2008, the Company had issued $<font class="_mt">3</font> billion of unsecured senior notes in anticipation of the acquisition. The remainder of the purchase price was financed through borrowings under a $<font class="_mt">2.5</font> billion bank term loan, $<font class="_mt">0.4</font> billion of borrowings under a receivables securitization program and existing cash balances. The CBPR operating results are included in International Paper's North American Industrial Packaging business from the date of acquisition. </font></p&
gt;
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table summarizes the final allocation of the purchase price, plus direct acquisition costs, to the fair value of assets and liabilities acquired. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="87%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and temporary investments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">655</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inventory</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">568</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other current assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4,816</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">445</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred charges and other assets</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">63</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total assets acquired</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,625</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts payable and accrued liabilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">463</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other liabilities</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">85</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total liabilities assumed</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">548</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net assets acquired</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,077</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The identifiable intangible assets acquired in connection with the CBPR acquisition included the following: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="59%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Estimated</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Remaining</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Useful Life</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Asset Class:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(at acquisition<br />date</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> <br />) </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tradenames</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 12 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Patented technology</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 12 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Proprietary software</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 5 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Power agreements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1 - 7 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Water rights</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Indefinite</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">65</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with the purchase price allocation, inventories were written up by approximately $<font class="_mt">39</font> million before taxes ($<font class="_mt">24</font> million after taxes) to their estimated fair value. As the related inventories were sold during the 2008 third quarter, this amount was included in Cost of products sold for the quarter. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Additionally, Selling and administrative expenses for the years ended 2009 and 2008 included $<font class="_mt">87</font> million in charges before taxes ($<font class="_mt">54</font> million after taxes) and $<font class="_mt">45</font> million in charges before taxes ($<font class="_mt">28</font> million after taxes), respectively, for integration costs associated with the acquisition. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following unaudited pro forma information for the year ended December 31, 2008 represents the results of operations of International Paper as if the CBPR acquisition had occurred on January 1, 2008. This pro forma information does not purport to represent International Paper's actual results of operations if the transaction described above would have occurred on January 1, 2008, nor is it necessarily indicative of future results. Pro forma information related to the acquisition of SCA Packaging Asia has not been included as it does not have a material effect on the Company's consolidated results of operations. </font></p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="86%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net sales</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27,920</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,348</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net earnings (loss) (1)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,361</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations per common share</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net earnings (loss) per common share (1)</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.23</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(1)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Attributable to International Paper Company common shareholders.</i></font></p></td></tr></table></div> </div>
905000000
1144000000
1892000000
2073000000
239000000
748000000
181000000
1892000000
2073000000
10000000
-15000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 10 COMMITMENTS AND CONTINGENT LIABILITIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Certain property, machinery and equipment are leased under cancelable and non-cancelable agreements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Unconditional purchase obligations have been entered into in the ordinary course of business, principally for capital projects and the purchase of certain pulpwood, logs, wood chips, raw materials, energy and services, including fiber supply agreements to purchase pulpwood that were entered into concurrently with the Company's 2006 Transformation Plan forestland sales. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="48%"> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="3%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Thereafter</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Lease obligations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">135</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">110</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Purchase obligations (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,564</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">749</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">616</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">524</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">515</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,174</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,726</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">884</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">726</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">611</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">590</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,332</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2.3</font> billion relating to fiber supply agreements entered into at the time of the Company's 2006 Transformation Plan forestland sales. </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Rent expense was $<font class="_mt">210</font> million, $<font class="_mt">216</font> million and $<font class="_mt">205</font> million for 2010, 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with sales of businesses, property, equipment, forestlands and other assets, International Paper commonly makes representations and warranties relating to such businesses or assets, and may agree to indemnify buyers with respect to tax and environmental liabilities, breaches of representations and warranties, and other matters. Where liabilities for such matters are determined to be probable and subject to reasonable estimation, accrued liabilities are recorded at the time of sale as a cost of the transaction. </font></p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In May 2008, a recovery boiler at the Company's Vicksburg, Mississippi facility exploded, resulting in one fatality and injuries to employees of contractors working on the site. The Company has resolved all of the eight original lawsuits arising from this matter. However, a new matter was filed January 4, 2011. Nevertheless, the Company believes it has adequate insurance to resolve any remaining matters, and the settlement of these lawsuits will not have a material adverse effect on its consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper has been named as a potentially responsible party in various environmental remediation actions (See Legal Proceedings on page 45). During 2009, in connection with an environmental site remediation action under CERCLA, International Paper submitted to the EPA a feasibility study for a closed wood treating facility located in Cass Lake, Minnesota. In November 2010 the EPA provided comments that required International Paper to narrow the remedial action alternatives identified in the study. As a result of this recent information, the Company increased its remediation reserve for this site from $<font class="_mt">6</font> million to $<font class="_mt">24</font> million in the fourth quarter of 2010. The final remediation plan for this site has not been approved by the EPA, and of the five alternatives, the Company's reserve reflects the lo
w end of the range of estimated remediation costs, since, at this time, no one of the alternatives proposed by the EPA is any more likely than the others to be approved. If the most expensive of the clean-up alternatives were approved by the EPA, the remediation costs could be material, and significantly higher than amounts currently recorded. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In June 2010, the South Carolina Department of Health and Environmental Control (DHEC) finalized its previously proposed consent order to the Company with a civil penalty of $<font class="_mt">115,000</font>. The penalty was levied for self-disclosed failures by the Company's Georgetown, South Carolina mill to operate within carbon monoxide and total reduced sulfur emission limits under the mill's Part 70 (Title V) Air Quality Operating Permit. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SUMMARY </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company is also involved in various other inquiries, administrative proceedings and litigation relating to environmental and safety matters, contracts, sales of property, intellectual property, personal injury, labor and employment, and other matters, some of which allege substantial monetary damages. While any proceeding or litigation has the element of uncertainty, the Company believes that the outcome of any of the lawsuits or claims that are pending or threatened or all of them combined (other than those that cannot be assessed due to their preliminary nature), will not have a material adverse effect on its consolidated financial statements. </font></p></div> </div>
0.25
0.325
0.025
0.025
0.025
0.025
0.400
0.125
0.125
0.125
1
1
990850000
990850000
493556000
433556000
437000000
437022000
438900000
438871000
437000000
439000000
-4128000000
1926000000
922000000
<div>
<div><font style="font-family: ARIAL;" class="_mt" size="2"> </font>
<div>
<div>
<div>
<div class="MetaData">
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>CONSOLIDATION </b></font></p>
<div class="MetaData">
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The consolidated financial statements include the accounts of International Paper and its wholly-owned, controlled majority-owned and financially controlled subsidiaries. All significant intercompany balances and transactions are eliminated. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper accounts for its investment in Ilim Holding S.A. (Ilim), a separate reportable industry segment, using the equity method of accounting. Due to the complex organizational structure of Ilim's operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the Company reports its share of Ilim's operating results on a one-quarter lag basis. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Investments in affiliated companies where the Company has significant influence over their operations are accounted for by the equity method. International Paper's share of affiliates' earnings totaled earnings of $64 million, a loss of $49 million and earnings of $49 million in 2010, 2009 and 2008, respectively. </font></p></div></div></div></div></div></div> </div>
18742000000
15220000000
18482000000
159000000
228000000
-249000000
86000000
74000000
67000000
243000000
309000000
-201000000
-2000000
7000000
-19000000
5200000000
5100000000
5700000000
5100000000
304000000
46000000
7000000
313000000
38000000
4000000
<div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 12 DEBT AND LINES OF CREDIT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In November 2010, International Paper repaid approximately $<font class="_mt">54</font> million of notes with interest rates ranging from 7.3% to 9.375% and original maturities from 2018 to 2039. Pre-tax early debt retirement costs of $<font class="_mt">13</font> million related to these debt payments are included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended September 30, 2010, International Paper repaid approximately $<font class="_mt">111</font> million of notes with interest rates ranging from 5.375% to 6.8% and original maturities from 2016 to 2024. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In May 2010, International Paper repaid approximately $<font class="_mt">108</font> million of notes with interest rates ranging from 5.3% to 9.375% and original maturities from 2015 to 2019. Pre-tax early debt retirement costs of $<font class="_mt">21</font> million related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations (offset by a $<font class="_mt">3</font> million gain on associated interest rate swaps as discussed in Note 13). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended March 31, 2010, International Paper repaid approximately $<font class="_mt">120</font> million of notes with interest rates ranging from 5.25% to 7.4% and original maturities from 2010 to 2027. Pre-tax early debt retirement costs of $<font class="_mt">5</font> million related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations (offset by a $<font class="_mt">1</font> million gain on associated interest rate swaps as discussed in Note 13). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In December 2009, International Paper issued $<font class="_mt">750</font> million of 7.3% senior unsecured notes with a maturity date in November 2039. The proceeds from this borrowing, along with available cash, were used to repay the remaining $<font class="_mt">1</font> billion of the $<font class="_mt">2.5</font> billion long-term debt issued in connection with the CBPR business acquisition. During 2009, additional repayments related to this debt totaled approximately $<font class="_mt">1.4</font> billion. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Also in December 2009, International Paper Investments (Luxembourg) S.a.r.l., a wholly-owned subsidiary of International Paper, repaid $<font class="_mt">214</font> million of notes with an interest rate of LIBOR plus a margin of <font class="_mt">40</font> basis points and an original maturity in 2010. Other debt activity during the three months ended December 31, 2009 included the repayment of approximately $<font class="_mt">235</font> million of notes with interest rates ranging from 4.0% to 9.375% and original maturities from 2009 to 2038. Pre-tax early debt retirement costs of $<font class="_mt">36</font> million related to these debt repayments during the three months ended December 31, 2009 are included in Restructuring and other charges in the accompanying consolidated statement of operations. &l
t;/font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In August 2009, International Paper issued $<font class="_mt">1</font> billion of 7.5% senior unsecured notes with a maturity date in August 2021. The proceeds from this borrowing were used to repay approximately $<font class="_mt">942</font> million of notes with interest rates ranging from 5.125% to 7.4% and original maturities from 2012 to 2026. Pre-tax early debt retirement costs of $<font class="_mt">118</font> million related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In May 2009, International Paper issued $<font class="_mt">1</font> billion of 9.375% senior unsecured notes with a maturity date in May 2019. The proceeds from this borrowing were used to repay approximately $<font class="_mt">875</font> million of notes with interest rates ranging from 4.0% to 9.25% and original maturities from 2010 to 2012. Also in April 2009, International Paper Company Europe Ltd, a wholly-owned subsidiary of International Paper, repaid $<font class="_mt">75</font> million of notes issued in connection with the Ilim Holding S.A. joint venture that had matured. Pre-tax early debt retirement costs of $<font class="_mt">46</font> million related to debt repayments during the three months ended June 30, 2009 are included in Restructuring and other charges in the accompanying consolidated statement of oper
ations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In March 2009, Luxembourg borrowed $<font class="_mt">468</font> million of long-term debt with an initial interest rate of LIBOR plus a margin of <font class="_mt">450</font> basis points that varied depending upon the credit rating of the Company, and a maturity date in March 2012. International Paper used the $<font class="_mt">468</font> million of proceeds from the loan and cash of approximately $<font class="_mt">170</font> million to repay its <font class="_mt">500</font> million euro-denominated debt (equivalent to $<font class="_mt">638</font> million at date of payment) with an original maturity date in August 2009. As of September 30, 2009, the $<font class="_mt">468</font> million loan was repaid. Other debt activity during the three months ended Ma
rch 31, 2009 included the repayment of approximately $<font class="_mt">366</font> million of notes with interest rates ranging from 4.25% to 5.0% that had matured. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A summary of long-term debt follows: </font></p></div>
<div class="MetaData">
<div class="MetaData">
<div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">8.7% to 10% notes - due 2038</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>274</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">280</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">9 3/8% note - due 2019</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>907</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">939</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">9.25% debentures - due 2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.95% debentures - due 2018</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,561</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,653</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.5% notes - due 2021</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>999</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.4% debentures - due 2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>303</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">309</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.3% notes - due 2039</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>725</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">748</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6 7/8% notes - due 2023 - 2029</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>130</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">130</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6.65% to 6.75% notes - due 2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6.4% to 7.75% debentures due 2025 - 2027</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>141</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">5.85% notes - due 2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">5.25% to 5.5% notes - due 2014 - 2016</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>701</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">732</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Floating rate notes - due 2011 - 2016 (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>593</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">637</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Environmental and industrial development bonds - due 2011 - 2034 (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,892</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,992</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Short-term notes (c)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>210</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">224</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other (d)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>152</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">149</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total (e)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,671</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,033</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: current maturities</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>313</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">304</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Long-term debt</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,358</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,729</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate on these notes was <font class="_mt">1.5</font>% in 2010 and <font class="_mt">2.0</font>% in 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate on these bonds was <font class="_mt">5.6</font>% in 2010 and 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate was <font class="_mt">3.2</font>% in 2010 and <font class="_mt">4.1</font>% in 2009. Includes $<font class="_mt">146</font> million at December 31, 2010 and $<font class="_mt">161</font> million at December 31, 2009 related to non-U.S. denominated borrowings with a weighted average interest rate of <font class="_mt">4.3</font>% in 2010 and <font class="_mt">4.8</font>% in 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes an unamortized gain of $<font class="_mt">8</font> million at December 31, 2010 and a loss of $<font class="_mt">18</font> million at December 31, 2009, related to interest rate swaps treated as fair value hedges. Also includes $<font class="_mt">70</font> million at December 31, 2010 and $<font class="_mt">80</font> million at December 31, 2009, related to the unamortized gain on interest rate swap unwinds (see Note 13). </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The fair market value was approximately $<font class="_mt">9.7</font> billion at December 31, 2010 and December 31, 2009. </i></font></p></td></tr></table></div></div></div>
<div class="MetaData"> </div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In addition to the long-term debt obligations shown above, International Paper has $<font class="_mt">5.7</font> billion of debt obligations payable to non-consolidated variable interest entities having principal payments of $<font class="_mt">542</font> million due 2011 and $<font class="_mt">5.1</font> billion due in 2016, for which International Paper has, and intends to affect, a legal right to offset these obligations with Class B interests held in the entities. Accordingly, in the accompanying consolidated balance sheet, International Paper has offset the $5.7 billion of debt obligations with $<font class="_mt">5.7</font> billion of Class B interests in these entities as of December 31, 2010 (see Note 11). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Total maturities of long-term debt over the next five years are 2011 – $<font class="_mt">313</font> million; 2012 – $<font class="_mt">324</font> million; 2013 – $<font class="_mt">135</font> million; 2014 - $<font class="_mt">559</font> million; and 2015 – $<font class="_mt">786</font> million. At December 31, 2010 and 2009, International Paper classified $<font class="_mt">100</font> million and $<font class="_mt">450</font> million, respectively, of current maturities of long-term debt as Long-term debt. International Paper has the intent and ability to renew or convert these obligations, as evidenced by the available bank credit agreements described below. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, International Paper's contractually committed credit facilities (the Agreements) totaled $<font class="_mt">2.5</font> billion. The Agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon International Paper's credit rating. The Agreements include a $<font class="_mt">1.5</font> billion contractually committed bank facility that expires in November 2012 and has a facility fee of <font class="_mt">0.50</font>% payable quarterly. The Agreements also include up to $<font class="_mt">1.0</font> billion of commercial paper-based financings based on eligible receivables balances ($<font class="_mt">877</font> million available as of December 31, 2010) under a receivables securitization program. On January 12, 2011, th
e Company amended the receivables securitization programs to extend the maturity date from January 2011 to January 2012. The amended agreement has a facility fee of <font class="_mt">0.40</font>% payable monthly. At December 31, 2010, there were no borrowings under either the bank facility or receivables securitization program. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Maintaining an investment grade credit rating is an important element of International Paper's financing strategy. At December 31, 2010, the Company held long-term credit ratings of BBB (stable outlook) and Baa3 (stable outlook) by S&P and Moody's, respectively.</font></p> </div>
2500000000
468000000
1000000000
1000000000
2500000000
750000000
9700000000
9700000000
0.056
0.02
0.048
0.041
0.056
0.015
0.043
0.032
April 2015
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 16 POSTRETIREMENT BENEFITS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>U.S. POSTRETIREMENT BENEFITS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper provides certain retiree health care and life insurance benefits covering certain U.S. salaried and hourly employees. These employees are generally eligible for benefits upon retirement and completion of a specified number of years of creditable service. Excluded from company-provided medical benefits are salaried employees whose age plus years of employment with the Company totaled less than 60 as of January 1, 2004. International Paper does not fund these benefits prior to payment and has the right to modify or terminate certain of these plans in the future. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The components of postretirement benefit expense in 2010, 2009 and 2008, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service credits</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(29</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(38</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net postretirement benefit expense (a)</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Excludes $<font class="_mt">0.8</font> million of curtailment gains in 2008 and $<font class="_mt">2.8</font> million and $<font class="_mt">0.5</font> million of termination benefits in 2009 and 2008, respectively, related to cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations. </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper evaluates its actuarial assumptions annually as of December 31 (the measurement date) and considers changes in these long-term factors based upon market conditions and the requirements of employers' accounting for postretirement benefits other than pensions. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The discount rates used to determine net cost for the years ended December 31, 2010, 2009 and 2008 were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.40</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.90</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.90</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The weighted average assumptions used to determine the benefit obligation at December 31, 2010 and 2009 were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.30</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Health care cost trend rate assumed for next year</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate that the cost trend rate gradually declines to</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.00</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Year that the rate reaches the rate it is assumed to remain</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2017</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2017</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A 1% increase in the assumed annual health care cost trend rate would have increased the accumulated postretirement benefit obligation at December 31, 2010 by approximately $<font class="_mt">12</font> million. A 1% decrease in the annual trend rate would have decreased the accumulated postretirement benefit obligation at December 31, 2010 by approximately $<font class="_mt">11</font> million. The effect on net postretirement benefit cost from a 1% increase or decrease would be approximately $<font class="_mt">1</font> million. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The plan is only funded in an amount equal to benefits paid. The following table presents the changes in benefit obligation and plan assets for 2010 and 2009: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="78%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>473</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">596</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Participants' contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(110</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(114</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: Federal subsidy</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plan amendments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special termination benefits</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>62</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Participants' contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(110</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(114</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet under ASC 715:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(377</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(427</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income under ASC 715:<br />(pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>66</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">99</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service credit</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(60</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(91</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The non-current portion of the liability is included with the postemployment liability in the accompanying consolidated balance sheet under Postretirement and postemployment benefit obligation. In accordance with guidance under ASC 715, after-tax credits of $<font class="_mt">13</font> million and $<font class="_mt">41</font> million were recorded as of December 31, 2010 and 2009, respectively, to adjust the funded status of the plan. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The components of the $<font class="_mt">2</font> million decrease in the amounts recognized in OCI during 2010 consisted of: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom">
<p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service credit</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The portion of the change in the funded status that was recognized in either net periodic benefit cost or OCI was $<font class="_mt">5</font> million, $<font class="_mt">(70)</font> million and $<font class="_mt">10</font> million in 2010, 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The estimated amounts of net loss and prior service credit that will be amortized from OCI into net postretirement benefit cost in 2011 are expected to be $<font class="_mt">8</font> million and $<font class="_mt">25</font> million, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, estimated total future postretirement benefit payments, net of participant contributions and estimated future Medicare Part D subsidy receipts, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Payments</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Subsidy</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Receipts</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">59</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2016 – 2020</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>NON-U.S. POSTRETIREMENT BENEFITS </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In addition to the U.S. plan, certain Canadian, Brazilian and Moroccan employees are eligible for retiree health care and life insurance benefits. Net postretirement benefit cost for our non-U.S. plans was $<font class="_mt">1</font> million for 2010, $<font class="_mt">3</font> million for 2009 and $<font class="_mt">3</font> million for 2008. The benefit obligation for these plans was $<font class="_mt">24</font> million in 2010, $<font class="_mt">18</font> million in 2009 and $<font class="_mt">19</font> million in 2008. </font></p> </div>
-26000000
-63000000
301000000
-39000000
182000000
76000000
11000000
2000000
3000000
-81000000
160000000
422000000
-16000000
41000000
45000000
2634000000
2282000000
-1856000000
-2319000000
2288000000
1916000000
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339000000
534000000
541000000
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268000000
192000000
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1104000000
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-3712000000
-99000000
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-3412000000
-66000000
0
206000000
-91000000
0
183000000
-60000000
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1287000000
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1019000000
70000000
3000000
0
-4000000
-2000000
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0
65000000
2000000
6000000
0
0
0
210000000
0
0
30000000
3000000
37000000
0
68000000
-3000000
33000000
0
43000000
-1000000
-1000000
121000000
29000000
-2000000
160000000
23000000
0
-134000000
67000000
0
174000000
12000000
-11000000
-264000000
21000000
204000000
8000000
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25000000
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-38000000
30000000
-29000000
31000000
-31000000
-36000000
-2760000000
-473000000
-27000000
-1480000000
-425000000
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13000000
0.0645
0.058
0.054
0.0601
0.056
0.053
0.0406
0.0375
0.0307
0.0375
0.064
0.062
0.059
0.0637
0.06
0.059
0.0645
0.058
0.054
0.0887
0.085
0.0888
0.0825
0.082
0.0825
0.0355
0.0375
0.0381
0.0375
0.0406
0.0375
19000000
168000000
9275000000
596000000
18000000
186000000
9544000000
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9824000000
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1300000000
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617000000
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1187000000
62000000
47000000
48000000
5000000
-4000000
3000000
0
11000000
12000000
0.49
0.49
3348000000
199000000
639000000
47000000
630000000
49000000
628000000
59000000
36000000
624000000
52000000
622000000
55000000
13000000
672000000
10000000
634000000
11000000
631000000
115000000
6079000000
0
150000000
6784000000
0
2150000000
29000000
1000000
344000000
4000000
174000000
2000000
269000000
24000000
668000000
175000000
457000000
3000000
8344000000
305000000
1317000000
156000000
8344000000
0
415000000
1921000000
465000000
264000000
817000000
349000000
1880000000
4142000000
2322000000
30000000
681000000
194000000
650000000
936000000
0
291000000
14000000
14000000
1005000000
312000000
0
0
0
415000000
860000000
1057000000
4000000
5000000
460000000
0
0
30000000
234000000
0
817000000
0
10000000
1000000
338000000
0
25000000
5000000
0
19000000
662000000
0
194000000
0
0
0
650000000
0
936000000
0
19000000
-5000000
20000000
-2000000
-36000000
-2760000000
-473000000
-27000000
-1480000000
-425000000
0.09
0.085
11000000
540000000
34000000
12000000
537000000
31000000
12000000
537000000
31000000
12000000
541000000
23000000
12000000
541000000
23000000
4000000
3000000
123000000
28000000
3000000
3000000
213000000
27000000
231000000
0
1000000
231000000
6000000
0.12
0.12
9544000000
42000000
9824000000
10000000
-40000000
7000000
0
68000000
-18000000
0
45000000
-1000000
23000000
-2000000
-64000000
-18000000
-45000000
0
150000000
-2000000
0.07
0.08
7000000
105000000
3000000
4000000
120000000
2000000
4000000
120000000
2000000
3000000
116000000
2000000
3000000
116000000
2000000
0
0
0
-2000000
-14000000
0
-14000000
13900000
500000
83200000
2800000
83000000
3000000
0
0
0.51
0.4
0.18
0.09
0.13
0.07
-176000000
0
-1000000
0
0
0
0
0
0
0
-175000000
0
0
0.05
0.05
1
1
2017
2017
1300000000
1400000000
1400000000
53000000
16000000
0
32000000
5000000
3000000
13000000
2000000
3000000
31000000
3000000
0
18000000
10000000
5000000
13000000
3000000
7000000
9000000
6000000
2000000
1000000
9000000
8000000
1000000
0
62000000
40000000
93000000
46000000
<div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 13 DERIVATIVES AND HEDGING ACTIVITIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper periodically uses derivatives and other financial instruments to hedge exposures to interest rate, commodity and currency risks. International Paper does not hold or issue financial instruments for trading purposes. For hedges that meet the hedge accounting criteria, International Paper, at inception, formally designates and documents the instrument as a fair value hedge, a cash flow hedge or a net investment hedge of a specific underlying exposure, as well as the risk management objective and strategy for undertaking each hedge transaction. Derivatives are recorded in the consolidated balance sheet at fair value, determined using available market information or other appropriate valuation methodologies, in Other current assets, Deferred charges and other assets, Other accrued liabilities or Other liabilities. The earnings impact resulting from changes in the
fair value of derivative instruments is recorded in the same line item in the consolidated statement of operations as the underlying exposure being hedged or in Accumulated other comprehensive income (AOCI) for derivatives that qualify as cash flow hedges. Any ineffective portion of a financial instrument's change in fair value is recognized currently in earnings together with changes in the fair value of any derivatives not designated as hedges. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Foreign exchange contracts are used by International Paper to offset the earnings impact relating to the variability in exchange rates on certain monetary assets and liabilities denominated in non-functional currencies and are not designated as hedges. Changes in the fair value of these instruments, recognized in earnings to offset the remeasurement of the related assets and liabilities, totaled a gain of approximately $<font class="_mt">33</font> million for the year ended December 31, 2010 and a loss of $<font class="_mt">50</font> million and $<font class="_mt">30</font> million for the years ended December 31, 2009 and 2008, respectively. As of December 31, 2010 and 2009, the outstanding undesignated foreign exchange contracts included the following: </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>UNDESIGNATED VOLUMES </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="11%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="11%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell / Buy</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell Notional</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Sell Notional</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. dollar / European euro</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>109</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">108</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / British pounds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Polish zloty</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / U.S. dollar</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>85</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">South Korean won / U.S. dollar</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,076</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,629</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Interest rate swap agreements of $<font class="_mt">1</font> billion floating-to-fixed notional and an offsetting $<font class="_mt">1</font> billion fixed-to-floating notional that did not qualify as hedges under the accounting guidance during 2010 and matured in September 2010 resulted in a $<font class="_mt">22</font> million gain that was recognized in earnings for the year ended December 2010. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FAIR VALUE HEDGES </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in earnings. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper utilizes interest rate swaps as fair value hedges of the benchmark interest rates of fixed rate debt. At December 31, 2010 and December 31, 2009, the outstanding notional amounts of interest rate swap agreements that qualify as fully effective fair value hedges were approximately $<font class="_mt">274</font> million and $<font class="_mt">1.1</font> billion, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended June 30, 2010, in connection with early debt extinguishment, interest rate swap agreements that were issued in the fourth quarter of 2009 with a notional value of $<font class="_mt">2</font> million were undesignated as effective fair value hedges. The resulting gain was immaterial. Also related to early debt extinguishment, deferred gains of $<font class="_mt">3</font> million related to previously terminated effective interest rate swaps were recognized in earnings. This gain is included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In June 2010, interest rate swap agreements issued in the fourth quarter of 2009 and designated as fair value hedges with a notional value of $<font class="_mt">100</font> million were terminated. The termination was not in connection with early retirement of debt. The resulting gain of $<font class="_mt">3</font> million was deferred and recorded in Long-term debt and is being amortized as an adjustment of interest expense over the life of the underlying debt through 2019. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In January 2010, approximately $<font class="_mt">700</font> million of fixed-to-floating interest rate swaps that were issued in 2009 were terminated. These terminations were not in connection with early debt retirements. The resulting $<font class="_mt">2</font> million gain was deferred and recorded in Long-term debt and is being amortized as an adjustment of interest expense over the life of the underlying debt through April 2015. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended March 31, 2010, a previously deferred gain of $<font class="_mt">1</font> million was recognized in earnings in connection with early debt retirements. This gain is included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended December 31, 2009, the Company entered into various fixed-to-floating interest rate swap agreements with a notional amount of approximately $<font class="_mt">1</font> billion to hedge existing debt. The interest rate swaps were effective December 2009 and would have matured within a range of <font class="_mt">five</font> to <font class="_mt">ten</font> years. Also in August of 2009, the Company entered into a fixed-to-floating interest rate swap agreement with a notional value of $<font class="_mt">100</font> million. The interest rate swap was effective <font class="_mt">August 2009</font> with an original maturity date in <font class="_mt">April 2015</font>. These interest rate swaps were designated as fully effective fair value hedges of t
he benchmark interest rate under ASC 815. Subsequently in 2010, the majority of these interest rate swaps were terminated or undesignated. See above for a discussion of the 2010 activity. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended September 30, 2009, in connection with various early debt retirements, interest rate swap hedges with a notional value of $<font class="_mt">520</font> million, including $<font class="_mt">500</font> million of swaps issued during the three months ended June 30, 2009, were terminated or undesignated as an effective fair value hedge resulting in a gain of approximately $<font class="_mt">9</font> million. This gain is included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During 2009, an interest rate swap agreement designated as a fair value hedge with a notional value of $<font class="_mt">100</font> million was terminated, resulting in a gain of $<font class="_mt">11</font> million that was deferred and recorded in Long-term debt. This gain will be amortized as an adjustment of interest expense over the life of the underlying debt through 2016. Also, previously deferred gains of $<font class="_mt">40</font> million related to earlier swap terminations were recognized in earnings in connection with early debt retirements. These gains are included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>CASH FLOW HEDGES </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of AOCI and reclassified into earnings in the same period or periods in which the hedged transaction affects earnings. Financial instruments designated as cash flow hedges are assessed both at inception and quarterly thereafter to ensure they are effective in offsetting changes in the cash flows of the related underlying exposures. The fair value of the hedge instruments are reclassified out of AOCI to earnings if the hedge ceases to be highly effective or if the hedged transaction is no longer probable. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Interest Rate Risk </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper utilizes interest rate swaps as cash flow hedges of the benchmark interest rate of future interest payments. At December 31, 2010 and 2009, there were no outstanding interest rate swap agreements that qualified as cash flow hedges. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In September 2009, the Company undesignated the $<font class="_mt">1</font> billion of interest rate swaps that qualified as cash flow hedges and entered into an offsetting $<font class="_mt">1</font> billion fixed-to-floating interest rate swap with a maturity date in September 2010 to minimize the earnings exposure from the undesignated swaps. Subsequently in December 2009 in connection with early debt retirements, a $<font class="_mt">24</font> million loss related to the fair value of these swaps was reclassified from AOCI and included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Also, during the three months ended September 30, 2009, in connection with various early debt retirements, unamortized deferred losses of approximately $<font class="_mt">10</font> million related to earlier swap terminations were reclassified from AOCI and included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended December 31, 2009, the Company entered into treasury rate lock agreements to fix interest rates on an anticipated issuance of debt. Upon issuance of the debt later in the quarter, these agreements generated a pre-tax loss of $<font class="_mt">3</font> million that was recorded in AOCI. This amount is being amortized to interest expense over the term of the bonds through August 2039, yielding an effective interest rate of <font class="_mt">7.3</font>%. </font></p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><strong><em>Commodity Risk </em></strong></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">To minimize volatility in earnings due to large fluctuations in the price of commodities, International Paper utilizes swap contracts to manage risks associated with market fluctuations in energy prices. These contracts are designated as cash flow hedges of forecasted commodity purchases. At December 31, 2010, the hedged volumes of these energy contracts totaled <font class="_mt">200,000</font> barrels of fuel oil and <font class="_mt">12</font> Million British Thermal Units (MMBTUs) of natural gas. These contracts had maturities of <font class="_mt"><font class="_mt"><font class="_mt"><font class="_mt">two </font>years</font></font> or less</font> as of December 31, 2010. At December 31, 2009, the hedged volumes totaled <font class="_mt">9
00,000</font> barrels of fuel oil and <font class="_mt">21</font> MMBTUs of natural gas. Deferred losses totaling $<font class="_mt">15</font> million after taxes at December 31, 2010 are expected to be recognized through earnings within the next 12 months. </font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><strong><em>Foreign Currency Risk </em></strong></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Foreign exchange contracts are also used as cash flow hedges of certain forecasted transactions denominated in foreign currencies to manage volatility associated with these transactions and to protect International Paper from currency fluctuations between the contract date and ultimate settlement. At December 31, 2010, these contracts have maturities of <font class="_mt">three</font> years or less. Deferred gains of $<font class="_mt">10</font> million after taxes at December 31, 2010 are expected to be recognized through earnings within the next 12 months. As of December 31, 2010 and December 31, 2009, the following outstanding foreign exchange contracts were entered into as cash flow hedges of forecasted transactions: </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>DESIGNATED VOLUMES </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell / Buy</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell Notional</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Sell Notional</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. dollar / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>74</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">265</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">British pounds / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Polish zloty</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>223</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">164</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">On June 30, 2010, foreign exchange contracts to sell <font class="_mt">123</font> million U.S. dollars and buy Brazilian reals were undesignated as cash flow hedges of an International Paper wholly-owned subsidiary's foreign exchange risk due to the forecasted transactions not being probable. In July 2010, the undesignated foreign exchange contracts were terminated resulting in cash received of $<font class="_mt">5</font> million. The change, a $<font class="_mt">3</font> million gain, in the fair value of the contracts since they were undesignated was recognized in earnings. The fair value of the contracts when they were undesignated, a $<font class="_mt">1</font> million gain after taxes, was deferred in AOCI since the forecasted transactions remained reasonably possible. The deferred gain will be reclas
sified out of AOCI to earnings when the forecasted transactions are no longer reasonably possible or when the hedged transactions affect earnings. As of December 31, 2010, the forecasted transactions remained reasonably possible. </font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Fair Value Measurements </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper's financial assets and liabilities that are recorded at fair value consist of derivative contracts, including interest rate swaps, foreign currency forward contracts, and other financial instruments that are used to hedge exposures to interest rate, commodity and currency risks. In addition, a consolidated subsidiary of International Paper has an embedded derivative. For these financial instruments and the embedded derivative, fair value is determined at each balance sheet date using an income approach. Below is a description of the valuation calculation and the inputs used for each class of contract: </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="1"><b>Interest Rate Contracts</b></font><font style="font-family: ARIAL;" class="_mt" size="2"> are valued using swap curves obtained from an independent market data provider. The market value of each contract is the sum of the fair value of all future interest payments between the contract counterparties, discounted to present value. The fair value of the future interest payments is determined by comparing the contract rate to the derived forward interest rate and present valued using the appropriate derived interest rate curve. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fuel Oil Contracts</b></font><font style="font-family: ARIAL;" class="_mt" size="2"> are valued using the average of two forward fuel oil curves as quoted by third parties. The fair value of each contract is determined by comparing the strike price to the forward price of the corresponding fuel oil contract and present valued using the appropriate interest rate curve. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="1"><b>Natural Gas Contracts</b></font><font style="font-family: ARIAL;" class="_mt" size="2"> are traded over-the- counter and settled using the NYMEX last day settle price; therefore, forward contracts are valued using the closing prices of the NYMEX natural gas future contracts. The fair value of each contract is determined by comparing the strike price to the closing price of the corresponding natural gas future contract and present valued using the appropriate interest rate curve. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><font class="_mt" size="1"> </font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="1"><b>Foreign Exchange Contracts</b></font><font style="font-family: ARIAL;" class="_mt" size="2"> are valued using the foreign currency forward and interest rate curves obtained from an independent market data provider. The fair value of each contract is determined by comparing the contract rate to the forward rate. The fair value is present valued using the applicable interest rate from an independent market data provider. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Embedded Derivatives</b> are valued using a hypothetical interest rate derivative with identical terms. The hypothetical interest rate derivative contracts are fair valued as described above under Interest Rate Contracts. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Since the volume and level of activity of the markets that each of the above contracts are traded in has been normal, the fair value calculations have not been adjusted for inactive markets or disorderly transactions. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The guidance for fair value measurements and disclosures sets out a fair value hierarchy that groups fair value measurement inputs into three classifications: Level 1, Level 2 and Level 3. Level 1 inputs are quoted </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">prices in an active market for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Transfers between levels are recognized at the end of the reporting period. All of International Paper's fair value measurements use Level 2 inputs. The following table provides a summary of the impact of our derivative instruments in the consolidated balance sheet: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font size="2" class="_mt"> </font> </p></div>
<div class="MetaData">
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Fair Value Measurements </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Level 2 – Significant Other Observable Inputs </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom" colspan="6" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom" colspan="6" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Liabilities</font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,<br />2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,<br />2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,<br />2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,<br />2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Derivatives designated as hedging instruments</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts – fair value</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(a) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(e) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(h) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fuel oil contracts – cash flow</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(b) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(f) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(i) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Natural gas contracts – cash flow</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>32</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(g) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(j) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts – cash flow</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(c) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(h) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives designated as hedging instruments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Derivatives not designated as hedging instruments</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(h) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(k) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Embedded derivatives</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(d) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(b) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(i) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(i) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives not designated as hedging instruments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>40</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>46</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">3</font> million recorded in Accounts and notes receivable, net, and $<font class="_mt">7</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other current assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">13</font> million recorded in Other current assets and $<font class="_mt">5</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million recorded in Accounts and notes receivable, net and $<font class="_mt">3</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">13</font> million recorded in Other current assets and $<font class="_mt">3</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">27</font> million recorded in Other accrued liabilities and $<font class="_mt">5</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(h)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(i)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other accrued liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(j)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">26</font> million recorded in Other accrued liabilities and $<font class="_mt">12</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(k)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">23</font> million recorded in Other accrued liabilities and $<font class="_mt">6</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table shows the change in AOCI, net of tax, related to derivative instruments: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="43%"> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td width="30%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="10" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Gain or (Loss)</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Recognized in OCI</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Location of Gain or</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Loss) Reclassified</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">from OCI into Income</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="10" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Gain) or Loss</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Reclassified from</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">OCI into Income</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense, net</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fuel oil contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Natural gas contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">51</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(34</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(42</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(19</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(51</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(106</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">54</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(55</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Credit-Risk-Related Contingent Features </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper evaluates credit risk by monitoring its exposure with each counterparty to ensure that exposure stays within acceptable policy limits. Credit risk is also mitigated by contractual provisions with the majority of our banks. Most of the contracts include a credit support annex that requires the posting of collateral by the counterparty or International Paper based on each party's rating and level of exposure. Based on the Company's current credit rating, the collateral threshold is generally $<font class="_mt">10</font> million. If the lower of the Company's credit rating by Moody's or S&P were to drop below investment grade, the Company would be required to post collateral for all of its derivatives in a net liability position, although no derivatives would terminate. The fair values of derivative instruments containing credit-risk-related c
ontingent features in a net liability position were $<font class="_mt">32</font> million as of December 31, 2010 and $<font class="_mt">65</font> million as of December 31, 2009. The Company was not required to post any collateral as of December 31, 2010 and an immaterial amount of collateral was posted as of December 31, 2009 due to exceeding the counterparty's collateral threshold in the normal course of business. In addition, existing derivative contracts (except foreign exchange contracts) provide for netting across most derivative positions in the event a counterparty defaults on a payment obligation. International Paper currently does not expect any of the counterparties to default on their obligations.</font></p> </div>
-55000000
1000000
3000000
-8000000
-51000000
54000000
40000000
5000000
28000000
-19000000
-31000000
0
-4000000
15000000
-42000000
1000000
3000000
3000000
-106000000
-23000000
-15000000
-34000000
-34000000
40000000
23000000
-26000000
51000000
-8000000
23000000
-1000000
-13000000
37000000
0
62000000
4000000
38000000
0
20000000
26000000
12000000
33000000
0
32000000
1000000
0
27000000
5000000
31000000
0
2000000
29000000
23000000
6000000
13000000
0
5000000
8000000
65000000
32000000
0
0
0
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 17 INCENTIVE PLANS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper currently has an Incentive Compensation Plan (ICP) which, upon the approval by the Company's shareholders in May 2009, replaced the Company's Long-Term Incentive Compensation Plan (LTICP). The ICP authorizes grants of restricted stock, restricted or deferred stock units, performance awards payable in cash or stock upon the attainment of specified performance goals, dividend equivalents, stock options, stock appreciation rights, other stock-based awards, and cash-based awards at the discretion of the Management Development and Compensation Committee of the Board of Directors (the Committee) that administers the ICP. Additionally, stock appreciation rights (SAR's) have been awarded to employees of a non-U.S. subsidiary, with <font class="_mt">3,070</font> and <font class="_mt">3,310</font> rights outstanding at December
31, 2010 and 2009, respectively. Restricted stock units (RSU's) were also awarded to certain non-U.S. employees with <font class="_mt">26,150</font> and <font class="_mt">44,100</font> units outstanding at December 31, 2010 and 2009, respectively. Additionally, restricted stock, which may be deferred into RSU's, may be awarded under a Restricted Stock and Deferred Compensation Plan for Non-Employee Directors. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>STOCK OPTION PROGRAM </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper accounts for stock options in accordance with guidance under ASC 718, "Compensation – Stock Compensation." Compensation expense is recorded over the related service period based on the grant-date fair market value. Since all outstanding options were vested as of July 14, 2005, only replacement option grants are expensed. No replacement options were granted in 2008, 2009 or 2010. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During each reporting period, diluted earnings per share is calculated by assuming that "in-the-money" options are exercised and the exercise proceeds are used to repurchase shares in the marketplace. When options are actually exercised, option proceeds are credited to equity and issued shares are included in the computation of earnings per common share, with no effect on reported earnings. Equity is also increased by the tax benefit that International Paper will receive in its tax return for income reported by the optionees in their individual tax returns. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Under the program, upon exercise of an option, a replacement option may be granted under certain circumstances with an exercise price equal to the market price at the time of exercise and with a term extending to the expiration date of the original option. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company has discontinued the issuance of stock options for all eligible U.S. and non-U.S. employees. In the United States, the stock option program was replaced with a performance-based restricted share program to more closely tie long-term incentive compensation to Company performance on two key performance drivers: return on investment (ROI) and total shareholder return (TSR). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following summarizes the status of the Stock Option Program and the changes during the three years ending December 31, 2010: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
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<tr><td> </td>
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<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Options</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(a,b)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Exercise</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Price</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Remaining</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Life</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(years)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Aggregate</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Intrinsic</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Value</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(thousands)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28,013,735</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,115</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Exercised</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14,800</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31.55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(189,158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">43.44</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expired</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,716,655</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40.83</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25,093,122</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.68</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Exercised</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(558,470</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">44.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expired</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,317,595</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22,217,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2.73</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Exercised</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(43,068</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>34.36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Expired</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,928,736</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>46.29</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18,245,253</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37.73</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2.30</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The table does not include Continuity Award tandem stock options described below. No fair market value is assigned to these options under ASC 718. The tandem restricted shares accompanying these options are expensed over their vesting period. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The table includes options outstanding under an acquired company plan under which options may no longer be granted. </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PERFORMANCE-BASED RESTRICTED SHARES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Under the Performance Share Program (PSP), contingent awards of International Paper common stock are granted by the Committee. The PSP awards are earned over a three-year period. One-fourth of the award is earned during each twelve-month period, with the final one-fourth segment earned over the full three-year period. PSP awards are earned based on the achievement of defined performance rankings of ROI and TSR compared to ROI and TSR peer groups of companies. Awards are weighted <font class="_mt">75</font>% for ROI and <font class="_mt">25</font>% for TSR for all participants except for officers for whom the awards are weighted <font class="_mt">50</font>% for ROI and <font class="_mt">50</font>% for TSR. The ROI component of the PSP awards is valued at the closing stock price on the day prior to the grant date. As the ROI componen
t contains a performance condition, compensation expense, net of estimated forfeitures, is recorded over the requisite service period based on the most probable number of awards expected to vest. The TSR component of the PSP awards is valued using a Monte Carlo simulation as the TSR component contains a market condition. The Monte Carlo simulation estimates the fair value of the TSR component based on the expected term of the award, a risk-free rate, expected dividends, and the expected volatility for the Company and its competitors. The expected term is estimated based on the vesting period of the awards, the risk-free rate is based on the yield on U.S. Treasury securities matching the vesting period, the expected dividends are assumed to be zero for all companies, and the volatility is based on the Company's historical volatility over the expected term. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">PSP awards issued to certain members of senior management are accounted for as liability awards, which are remeasured at fair value at each balance sheet date. The valuation of these PSP liability awards is computed based on the same methodology as the PSP equity awards. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table sets forth the assumptions used to determine compensation cost for the market condition component of the PSP plan: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Twelve Months Ended</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected volatility</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33.83%</b></font></font> - <font class="_mt">62.33%</font></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Risk-free interest rate</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0.26%</b></font></font> -<font class="_mt">1.49%</font></b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The following summarizes PSP activity for the three years ending December 31, 2010: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Shares</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Grant Date</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,217,012</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,984,146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36.26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,639,012</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">41.54</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(307,890</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34.50</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,254,256</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32.69</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4,102,197</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19.10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,576,109</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(714,294</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23.41</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,066,050</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24.28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,842,626</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>28.93</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shares issued (a)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,807,388</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(288,694</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21.83</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,812,594</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23.31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes <font class="_mt">165,127</font> shares related to retirements or terminations that are held for payout until the end of the performance period. </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>EXECUTIVE CONTINUITY AND RESTRICTED STOCK AWARD PROGRAMS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Executive Continuity Award program provides for the granting of tandem awards of restricted stock and/or nonqualified stock options to key executives. Grants are restricted and awards conditioned on attainment of a specified age. The awarding of a tandem stock option results in the cancellation of the related restricted shares. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The service-based Restricted Stock Award program (RSA), designed for recruitment, retention and special recognition purposes, also provides for awards of restricted stock to key employees. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following summarizes the activity of the Executive Continuity Award program and RSA program for the three years ending December 31, 2010: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Shares</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Grant Date</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">122,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28.34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(35,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38.91</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.70</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11.80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(20,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.49</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.93</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>177,000</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25.63</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shares issued</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(92,500</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30.69</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>167,500</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>26.95</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, 2009 and 2008 a total of <font class="_mt">18.8</font> million, <font class="_mt">17.4</font> million and <font class="_mt">28.1</font> million shares, respectively, were available for grant under the ICP. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Total stock-based compensation cost recognized in Selling and administrative expense in the accompanying consolidated statement of operations for the years ended December 31, 2010, 2009 and 2008 was $<font class="_mt">73</font> million, $<font class="_mt">100</font> million and $<font class="_mt">66</font> million, respectively. The actual tax deduction realized for stock-based compensation costs related to non-qualified stock options was $<font class="_mt">0</font> for both of the years ended December 31, 2010 and 2009, and $<font class="_mt">19,000</font> for the year ended December 31, 2008. The actual tax deduction realized for stock-based compensation costs related to restricted and performance shares was $<font class="_mt">75</font> million, $<font class="_mt">28</fo
nt> million and $<font class="_mt">130</font> million for the years ended December 31, 2010, 2009 and 2008, respectively. At December 31, 2010, $<font class="_mt">62.8</font> million of compensation cost, net of estimated forfeitures, related to unvested restricted performance shares, executive continuity awards and restricted stock attributable to future performance had not yet been recognized. This amount will be recognized in expense over a weighted-average period of <font class="_mt">1.5</font> years. </font></p> </div>
9000000
5000000
3000000
25000000
-106000000
6000000
6000000
-59000000
23000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 6 BUSINESSES HELD FOR SALE, DIVESTITURES AND IMPAIRMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>DISCONTINUED OPERATIONS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2008: </b>During the three months ended December 31, 2008, the Company recorded pre-tax gains of $<font class="_mt">9</font> million ($<font class="_mt">5</font> million after taxes) for adjustments to reserves associated with the sale of discontinued operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended March 31, 2008, the Company recorded a pre-tax charge of $<font class="_mt">25</font> million ($<font class="_mt">16</font> million after taxes) related to the final settlement of a post-closing adjustment to the purchase price received by the Company for the sale of its Beverage Packaging business, and a $<font class="_mt">3</font> million charge before taxes ($<font class="_mt">2</font> million after taxes) for 2008 operating losses related to certain wood products facilities. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FORESTLANDS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2008:</b> During both the three months ended June 30, 2008 and the three months ended September 30, 2008, a pre-tax gain totaling $<font class="_mt">6</font> million ($<font class="_mt">4</font> million after taxes) was recorded to adjust reserves related to the Company's 2006 Transformation Plan forestland sales. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>OTHER DIVESTITURES AND IMPAIRMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2010: </b>During the three months ended December 31, 2010, the Company recorded a pre-tax gain of $<font class="_mt">25</font> million ($<font class="_mt">15</font> million after taxes) as a result of the partial redemption of the <font class="_mt">10</font>% interest the Company retained in its Arizona Chemical business after the sale of the business in 2006. The Company received $<font class="_mt">37</font> million in cash from the redemption of this interest. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Also during the three months ended December 31, 2010, a $<font class="_mt">2</font> million charge, before and after taxes, was recorded to further write down the long-lived assets of the Company's Inverurie, Scotland mill, which was closed in March 2009. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The net 2010 gain totaling $<font class="_mt">23</font> million discussed above is included in Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2009: </b>During the three months ended June 30, 2009, based on a current strategic plan update of projected future operating results of the Company's Etienne mill in France, a determination was made that the current book value of the mill's long-lived assets exceeded their estimated fair value, calculated using the probability-weighted present value of projected future cash flows. As a result, a $<font class="_mt">48</font> million charge, before and after taxes, was recorded in the Company's Industrial Packaging industry segment to write down the long-lived assets of the mill to their estimated fair value. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended December 31, 2009, an $<font class="_mt">8</font> million charge, before and after taxes, was recorded in the Company's Industrial Packaging segment related to the Company's Etienne mill in France, which was closed at the end of November 2009. In addition, a pre-tax charge of $<font class="_mt">3</font> million ($<font class="_mt">0</font> million after taxes) was recorded for other items, of which $<font class="_mt">2</font> million, before and after taxes, was recorded in the Industrial Packaging segment. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The net 2009 losses totaling $<font class="_mt">59</font> million discussed above are included in Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2008: </b>During the three months ended September 30, 2008, based on a current strategic plan update of projected future operating results of the Company's Inverurie, Scotland mill, a determination was made that the current book value of the mill's long-lived assets exceeded their estimated fair value, calculated using the probability-weighted present value of projected future cash flows. As a result, a $<font class="_mt">107</font> million pre-tax charge ($<font class="_mt">84</font> million after taxes) was recorded in the Company's Printing Papers industry segment to write down the long-lived assets of the mill to their estimated fair value. In February 2009, a decision was made to close the mill by the end of March 2009. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended March 31, 2008, a $<font class="_mt">1</font> million credit, before and after taxes, was recorded to adjust previously estimated gains/losses of businesses previously sold. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The net 2008 pre-tax losses totaling $<font class="_mt">106</font> million discussed above are included in Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations.</font></p> </div>
432000000
0
0
0
0
432000000
432000000
0
144000000
0
0
0
0
144000000
144000000
0
177000000
0
0
0
0
177000000
177000000
0
-3.05
0.61
1.56
0.32
0.87
-0.24
-0.38
1.50
0.22
0.92
0.74
-3.05
0.61
1.55
0.32
0.87
-0.24
-0.38
1.48
0.21
0.91
0.73
<div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 3 EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Basic earnings per common share from continuing operations are computed by dividing earnings from continuing operations by the weighted average number of common shares outstanding. Diluted earnings per common share from continuing operations are computed assuming that all potentially dilutive securities, including "in-the-money" stock options, were converted into common shares at the beginning of each year. In addition, the computation of diluted earnings per share reflects the inclusion of contingently convertible securities in periods when dilutive. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A reconciliation of the amounts included in the computation of basic earnings per common share from continuing operations, and diluted earnings per common share from continuing operations is as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>644</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of dilutive securities (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations – assuming dilution</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>644</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">663</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,269</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Average common shares outstanding</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>429.8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">425.3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">421.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of dilutive securities Restricted performance share plan (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4.4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2.7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Stock options (b)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Average common shares outstanding – assuming dilution</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>434.2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">428.0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">421.0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Basic earnings (loss) per common share<br />from continuing operations</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1.50</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1.56</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.02</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Diluted earnings (loss) per common share<br />from continuing operations</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1.48</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1.55</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.02</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Securities are not included in the table in periods when antidilutive. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Options to purchase <font class="_mt">18.2</font> million, <font class="_mt">22.2</font> million and <font class="_mt">25.1</font> million shares for the years ended December 31, 2010, 2009 and 2008, respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company's common stock for each respective reporting date. </i></font></p></td></tr></table></div></div> </div>
-0.14
0.39
0.27
0.35
0.35
0.35
-92000000
62000000
-28000000
473000000
471000000
19000
0
0
62800000
1.5
0.1
7
12
5
12
1
4
4
4
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>TRANSLATION OF FINANCIAL STATEMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Balance sheets of international operations are translated into U.S. dollars at year-end exchange rates, while statements of operations are translated at average rates. Adjustments resulting from financial statement translations are included as cumulative translation adjustments in Accumulated other comprehensive loss. </font></p> </div>
19000000
21000000
31000000
22000000
28000000
261000000
0
0
-18000000
8000000
-30000000
-50000000
33000000
3000000
9000000
3000000
0
0
50000000
31000000
6000000
0
0
2027000000
102000000
399000000
989000000
537000000
2290000000
101000000
400000000
1131000000
658000000
2308000000
104000000
400000000
1151000000
653000000
<div>
<div class="MetaData"><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 8 GOODWILL AND OTHER INTANGIBLES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>GOODWILL </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following tables present changes in the goodwill balances as allocated to each business segment for the years ended December 31, 2010 and 2009: </font></p>
<div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Printing</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Papers</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Distri-<br />bution</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance as of January 1, 2010</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Goodwill</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,131</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,423</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,765</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,719</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Accumulated</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> impairment losses (a)</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,765</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,664</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,429</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,131</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>658</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>101</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>400</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,290</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Reclassifications and other (b)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>22</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>22</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions/reductions</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" class="MetaData" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(c) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(27</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>)(d) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance as of December 31, 2010</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Goodwill</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,151</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,418</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,768</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,737</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Accumulated</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> impairment losses (a)</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,765</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,664</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,429</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,151</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>653</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>104</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>400</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,308</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<div>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents accumulated goodwill impairment charges since the adoption of ASC 350, "Intangibles – Goodwill and Other" in 2002. </i></font></p></td></tr></table></div>
<div>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents the effects of foreign currency translations and reclassifications. </i></font></p></td></tr></table></div>
<div>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents the preliminary purchase price allocation related to the acquisition of SCA Packaging Asia. </i></font></p></td></tr></table></div>
<div>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. </i></font></p></td></tr></table></div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Printing<br />Papers</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Distri-<br />bution</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance as of January 1, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">989</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,302</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,766</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,456</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"> impairment losses (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,765</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,664</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,429</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">989</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,027</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Reclassifications and other (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions/reductions</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">140</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(25</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">)(d) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">115</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance as of</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,131</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,423</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,765</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">400</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,719</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"> impairment losses (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,765</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,664</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,429</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,131</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">658</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">101</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">400</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,290</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents accumulated goodwill impairment charges since the adoption of ASC 350, "Intangibles – Goodwill and Other" in 2002. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents the effects of foreign currency translations and reclassifications. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Reflects purchase accounting adjustments related to the CBPR acquisition. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. </i></font></p></td></tr></table></div></div>
<div> </div>
<div>
<div>In the fourth quarter of 2008, in conjunction with annual testing of its reporting units for possible goodwill impairments as of the beginning of the fourth quarter, the Company recorded a $<font class="_mt">59</font> million charge to write off all recorded goodwill of its European Coated Paperboard business. Subsequent to this testing date, the Company's market capitalization declined through December 31, 2008. The Company determined that this decline, and the deterioration during the fourth quarter in economic conditions, represented indicators that required interim testing at year end for possible additional goodwill impairment. As a result, the Company performed an interim test as of December 31, 2008 and recalculated the estimated fair value of its reporting units as of that date using updated future cash flow projections and higher cost-of-capital discount rate assumptions, which resulted in the goodwill for two additional business units, the Company's U.S. Pri
nting Papers business and its U.S. Coated Paperboard business, being potentially impaired. Based on management's preliminary estimates, an additional goodwill impairment charge of $<font class="_mt">379</font> million was recorded, representing all of the goodwill for the U.S. Coated Paperboard business, as this was management's best estimate of the minimum impairment charge that would be required upon the completion of a detailed allocation of the business unit fair values to the individual assets and liabilities of each of the respective reporting units. In February 2009, based on additional work performed to date, management determined that it was probable that all of the $1.3 billion of recorded goodwill for the U.S. Printing Papers business would be impaired when testing was completed. Accordingly, an additional goodwill impairment charge of $<font class="_mt">1.3</font> billion was recorded as a charge to operating results for the year ended December 31, 2008. During th
e first quarter of 2009, the Company finalized the testing for these businesses resulting in no changes to the recorded impairment charges. </div></div></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">No goodwill impairment charges were recorded in 2010 or 2009. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>OTHER INTANGIBLES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The net carrying amount of identifiable intangible assets (such as trade names, customer lists, patented technology, etc.), excluding goodwill, was as follows:</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>261</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">248</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Company recognized the following amounts as amortization expense related to intangible assets: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization expense related to intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Based on current intangibles subject to amortization, estimated amortization expense for each of the suc –ceeding years is as follows: 2011 – $<font class="_mt">31</font> million, 2012 - $<font class="_mt">28</font> million, 2013 – $<font class="_mt">22</font> million, 2014 – $<font class="_mt">21</font> million, 2015 – $<font class="_mt">19</font> million, and cumulatively thereafter – $<font class="_mt">140</font> million.</font></p> </div>
1777000000
1300000000
59000000
379000000
0
0
115000000
-1000000
1000000
140000000
-25000000
-4000000
0
0
23000000
-27000000
1937000000
8146000000
2021000000
2161000000
2027000000
1343000000
6697000000
1631000000
1962000000
1761000000
107000000
48000000
8000000
2000000
2000000
<div> <div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>IMPAIRMENT OF LONG-LIVED ASSETS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable, measured by comparing their net book value to the undiscounted projected future cash flows generated by their use. Impaired assets are recorded at their estimated fair value (see Note 6).</font></p></div> </div>
-1269000000
663000000
644000000
-1365000000
905000000
198000000
212000000
294000000
624000000
-1153000000
518000000
1199000000
520000000
589000000
-428000000
-175000000
822000000
118000000
547000000
332000000
-1266000000
681000000
665000000
-3.02
1.56
1.50
-3.02
1.55
1.48
2000000
16000000
-13000000
0
0
-0.03
0
0
-0.03
0
0
49000000
54000000
-49000000
-50000000
64000000
55000000
1700000000
40000000
40000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 9 INCOME TAXES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The components of International Paper's earnings from continuing operations before income taxes and equity earnings by taxing jurisdiction were: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S.</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>198</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">905</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,365</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>624</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">294</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">212</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The provision (benefit) for income taxes by taxing jurisdiction was: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current tax provision (benefit)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(249</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">228</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">159</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. state and local</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>67</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">86</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(201</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">309</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">243</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax provision (benefit)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>301</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(63</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. state and local</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">41</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>76</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">182</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(39</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>422</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">160</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(81</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>221</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company's deferred income tax provision (benefit) includes a $<font class="_mt">0</font> million provision, a $<font class="_mt">1</font> million provision and a $<font class="_mt">14</font> million provision for 2010, 2009 and 2008, respectively, for the effect of changes in non-U.S. and U.S. state tax rates. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper made income tax payments, net of refunds, of $<font class="_mt">(135)</font> million, $<font class="_mt">97</font> million and $<font class="_mt">131</font> million in 2010, 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A reconciliation of income tax expense using the statutory U.S. income tax rate compared with actual income tax provision follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Statutory U.S. income tax rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax expense (benefit) using statutory U.S. income tax rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>288</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">420</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(404</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State and local income taxes</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax rate and permanent differences on non-U.S. earnings</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(69</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net U.S. tax on non-U.S. dividends</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>16</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax benefit on export sales and manufacturing activities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-deductible business expenses</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Sales of non-strategic assets and goodwill impairments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">622</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Retirement plan dividends</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative fuel mixture credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(133</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cellulosic bio-fuel credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(40</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Medicare subsidy</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>29</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax audits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other, net</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>221</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Effective income tax rate</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">)% </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The tax effects of significant temporary differences, representing deferred tax assets and liabilities at December 31, 2010 and 2009, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Postretirement benefit accruals</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>256</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">301</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pension obligations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>616</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,104</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative minimum and other tax credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>416</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">192</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net operating loss carryforwards</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Compensation reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>185</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">238</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>268</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">265</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross deferred tax assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,282</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,634</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: valuation allowance</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(366</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(346</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net deferred tax assets</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,916</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,288</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax liabilities:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,099</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forestlands and related installment sales</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,061</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,045</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross deferred tax liabilities</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4,235</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4,144</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net deferred tax liability</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,319</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,856</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Deferred tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions Deferred income tax assets, Deferred charges and other assets, Other accrued liabilities and Deferred income taxes. The decrease in 2010 in deferred tax assets principally relates to the tax impact of changes in recorded qualified pension liabilities. The increase in deferred income tax liabilities principally relates to more tax depreciation taken on the Company's assets purchased in 2010. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The net change in the total valuation allowance for the year ended December 31, 2010, was an increase of $<font class="_mt">20</font> million which consists primarily of an allowance applied to state tax credits generated in the current year. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2010, 2009 and 2008 is as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(308</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(435</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(794</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions based on tax positions related to current year</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions for tax positions of prior years</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Reductions for tax positions of prior years</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>97</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">72</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">352</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expiration of statutes of limitations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Currency translation adjustment</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(11</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance at December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(199</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(308</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(435</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Included in the balance at December 31, 2010, 2009 and 2008 are $<font class="_mt">13</font> million, $<font class="_mt">56</font> million and $<font class="_mt">9</font> million, respectively, for tax positions for which the ultimate benefits are highly certain, but for which there is uncertainty about the timing of such benefits. However, except for the possible effect of any penalties, any disallowance that would change the timing of these benefits would not affect the annual effective tax rate, but would accelerate the payment of cash to the taxing authority to an earlier period. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company accrues interest on unrecognized tax benefits as a component of interest expense. Penalties, if incurred, are recognized as a component of income tax expense. The Company had approximately $<font class="_mt">100</font> million and $<font class="_mt">95</font> million accrued for the payment of estimated interest and penalties associated with unrecognized tax benefits at December 31, 2010 and 2009, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The major jurisdictions where the Company files income tax returns are the United States, Brazil, France, Poland and Russia. Generally, tax years 2002 through 2010 remain open and subject to examination by the relevant tax authorities. The Company is typically engaged in various tax examinations at any given time, both in the United States and overseas. Currently, the Company is engaged in discussions with the U.S. Internal Revenue Service regarding the examination of tax years 2006 and 2007. As a result of these discussions, other pending tax audit settlements, and the expiration of statutes of limitation, the Company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $<font class="_mt">75</font> million during the next twelve months. During 2010, unrecognized tax benefits decreased by $<font class="_mt">109</font>
million. While the Company believes that it is adequately accrued for possible audit adjustments, the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates. Included in the Company's 2010, 2009 and 2008 income tax provisions are $<font class="_mt">(143)</font> million, $<font class="_mt">279</font> million and $<font class="_mt">(207)</font> million respectively, related to special items. The components of the net provisions related to special items were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special items and other charges:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and other charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(159</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative fuel mixture credit</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Redemption of Arizona Chemical interest</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax-related adjustments:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Incentive plan deferred tax write-off</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Medicare D deferred tax write-off</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>32</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valuation allowance for net deferred tax assets in France</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">156</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlement of federal tax audits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valuation allowance for Louisiana recycling credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring of international operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Impairment of certain non-U.S. assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cellulosic bio-fuel credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(40</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax on Ilim joint venture gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other tax adjustments</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision (benefit) related to special items</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(143</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">279</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(207</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Excluding the impact of special items, the 2010, 2009 and 2008 tax provisions were $<font class="_mt">364</font> million, $<font class="_mt">190</font> million and $<font class="_mt">369</font> million respectively, or <font class="_mt">30</font>%, <font class="_mt">30</font>% and <font class="_mt">31.5</font>%, respectively, of pre-tax earnings before equity earnings. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following details the scheduled expiration dates of the Company's net operating loss and tax credit carryforwards: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Through</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2020</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2021</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Through</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2030</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Indefinite</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal and non-U.S. NOLs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">344</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">371</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State taxing jurisdiction NOLs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">106</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">135</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">241</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal, non- U.S. and state tax credit carryforwards</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State capital loss carryforwards</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>202</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>168</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>743</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,113</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Deferred income taxes are not provided for temporary differences of approximately $<font class="_mt">4.3</font> billion, $<font class="_mt">3.5</font> billion and $<font class="_mt">2.6</font> billion as of December 31, 2010, 2009 and 2008, respectively, representing earnings of non-U.S. subsidiaries intended to be permanently reinvested. Computation of the potential deferred tax liability associated with these undistributed earnings and other basis differences is not practicable. </font></p> </div>
131000000
97000000
-135000000
162000000
469000000
221000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INCOME TAXES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper uses the asset and liability method of accounting for income taxes whereby deferred income taxes are recorded for the future tax consequences attributable to differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets and liabilities are remeasured to reflect new tax rates in the periods rate changes are enacted. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper records its worldwide tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Where the Company believes that a tax position is supportable for income tax purposes, the item is included in its income tax returns. Where treatment of a position is uncertain, liabilities are recorded based upon the Company's evaluation of the "more likely than not" outcome considering the technical merits of the position based on specific tax regulations and the facts of each matter. Changes to recorded liabilities are made only when an identifiable event occurs that changes the likely outcome, such as settlement with the relevant tax authority, the expiration of statutes of limitation for the subject tax year, a change in tax laws, or a recent court case that addresses the matter. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">While the judgments and estimates made by the Company are based on management's evaluation of the technical merits of a matter, assisted as necessary by consultation with outside consultants, historical experience and other assumptions that management believes are appropriate and reasonable under current circumstances, actual resolution of these matters may differ from recorded estimated amounts, resulting in charges or credits that could materially affect future financial statements. </font></p> </div>
-46000000
-11000000
-16000000
8000000
7000000
-29000000
14000000
-8000000
2000000
13000000
2000000
-3000000
-30000000
162000000
-69000000
-404000000
420000000
288000000
4000000
7000000
8000000
32000000
-12000000
32000000
15000000
22000000
11000000
25000000
-451000000
-604000000
327000000
-317000000
-321000000
-52000000
-31000000
-8000000
3000000
-48000000
-316000000
186000000
-166000000
112000000
-104000000
281000000
25100000
22200000
18200000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>261</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">248</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
248000000
261000000
27000000
12000000
14000000
572000000
702000000
643000000
597000000
656000000
657000000
1443000000
1505000000
306000000
334000000
2179000000
2347000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INVENTORIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Inventories are valued at the lower of cost or market and include all costs directly associated with manufacturing products: materials, labor and manufacturing overhead. In the United States, costs of raw materials and finished pulp and paper products are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost methods. </font></p> </div>
307000000
419000000
80000000
233000000
33000000
117000000
35000000
44000000
205000000
216000000
210000000
25548000000
25368000000
4012000000
4503000000
9033000000
309000000
1653000000
9000000
939000000
158000000
149000000
1992000000
637000000
161000000
38000000
130000000
280000000
999000000
748000000
732000000
36000000
224000000
8671000000
303000000
1561000000
9000000
907000000
141000000
152000000
1892000000
593000000
146000000
38000000
130000000
274000000
999000000
725000000
701000000
36000000
210000000
304000000
313000000
313000000
786000000
559000000
135000000
324000000
8729000000
144000000
465000000
8358000000
129000000
464000000
<div>
<div class="MetaData">
<div class="MetaData">
<div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">8.7% to 10% notes - due 2038</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>274</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">280</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">9 3/8% note - due 2019</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>907</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">939</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">9.25% debentures - due 2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.95% debentures - due 2018</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,561</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,653</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.5% notes - due 2021</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>999</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.4% debentures - due 2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>303</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">309</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.3% notes - due 2039</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>725</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">748</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6 7/8% notes - due 2023 - 2029</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>130</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">130</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6.65% to 6.75% notes - due 2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6.4% to 7.75% debentures due 2025 - 2027</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>141</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">5.85% notes - due 2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">5.25% to 5.5% notes - due 2014 - 2016</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>701</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">732</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Floating rate notes - due 2011 - 2016 (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>593</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">637</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Environmental and industrial development bonds - due 2011 - 2034 (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,892</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,992</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Short-term notes (c)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>210</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">224</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other (d)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>152</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">149</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total (e)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,671</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,033</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: current maturities</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>313</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">304</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Long-term debt</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,358</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,729</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate on these notes was 1.5% in 2010 and 2.0% in 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate on these bonds was 5.6% in 2010 and 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate was 3.2% in 2010 and 4.1% in 2009. Includes $146 million at December 31, 2010 and $161 million at December 31, 2009 related to non-U.S. denominated borrowings with a weighted average interest rate of 4.3% in 2010 and 4.8% in 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes an unamortized gain of $8 million at December 31, 2010 and a loss of $18 million at December 31, 2009, related to interest rate swaps treated as fair value hedges. Also includes $70 million at December 31, 2010 and $80 million at December 31, 2009, related to the unamortized gain on interest rate swap unwinds (see Note 13). </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The fair market value was approximately $9.7 billion at December 31, 2010 and December 31, 2009. </i></font></p></td></tr></table></div></div></div> </div>
1077000000
1092000000
two years
150000000
232000000
250000000
10000000
0
0
0
10000000
0
0
0
17000000
0
0
0
17000000
0
0
0
6000000
0
0
0
6000000
0
0
0
20000000
0
12000000
0
8000000
12000000
0
0
9000000
0
0
0
9000000
0
0
0
-1000000
0
0
0
-1000000
0
0
0
9000000
0
0
0
9000000
0
0
0
<div> <div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>NATURE OF BUSINESS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper (the Company) is a global paper and packaging company that is complemented by an extensive North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Substantially all of our businesses have experienced, and are likely to continue to experience, cycles relating to available industry capacity and general economic conditions.</font></p></div> </div>
4859000000
-3376000000
-588000000
-7197000000
-593000000
-834000000
2669000000
4655000000
1631000000
-1282000000
257000000
663000000
136000000
371000000
-101000000
-162000000
644000000
93000000
397000000
316000000
3000000
18000000
21000000
-1269000000
663000000
644000000
1000000000
4800000000
400000000
500000000
100000000
1000000000
12000000
11000000
29000000
164000000
39000000
9000000
3629000000
265000000
108000000
123000000
8000000
4000000
0
223000000
0
85000000
8076000000
74000000
109000000
1000000000
1100000000
274000000
162000000
75000000
87000000
110000000
135000000
158000000
1113000000
202000000
168000000
743000000
1177000000
1163000000
417000000
230000000
1185000000
1191000000
82000000
82000000
0
0
0
82000000
0
0
109000000
109000000
0
0
0
109000000
0
0
114000000
114000000
0
0
0
114000000
0
0
-31000000
31000000
58000000
75000000
73000000
7000000
2000000
-323000000
-2000000
-1000000
123000000
21000000
-106000000
-106000000
0
0
0
-106000000
0
0
40000000
40000000
0
0
0
40000000
0
0
23000000
23000000
0
0
0
23000000
0
0
61000000
17000000
9000000
-887000000
-889000000
0
0
2000000
-889000000
0
0
672000000
672000000
0
0
0
672000000
0
0
70000000
68000000
0
0
2000000
68000000
0
0
1000000
55000000
55000000
0
0
0
55000000
0
0
-54000000
-54000000
0
0
0
-54000000
0
0
31000000
31000000
0
0
0
31000000
0
0
16000000
-41000000
4000000
-174000000
-12000000
<div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>643</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">702</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">572</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest income (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Capitalized interest costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Interest expense and interest income exclude approximately $<font class="_mt">44</font> million, $<font class="_mt">117</font> million and $<font class="_mt">233</font> million in 2010, 2009 and 2008, respectively, related to investments in and borrowings from variable interest entities for which the Company has a legal right of offset (see Note 11). </i></font></p></td></tr></table></div> </div>
52000000
59000000
377000000
364000000
824000000
649000000
5000000000
-41000000
-13000000
538000000
427000000
499000000
377000000
15000000
85000000
102000000
42000000
-93000000
47000000
10000000
26000000
428000000
140000000
175000000
10000000
6000000
5000000
6086000000
17000000
152000000
21000000
0
0
1002000000
287000000
39000000
9000000
2000000
282000000
383000000
963000000
534000000
126000000
0
6000000
1000000
183000000
218000000
534000000
775000000
159000000
24000000
5000000
3000000
301000000
283000000
751000000
<div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 15 RETIREMENT PLANS </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>U.S. DEFINED BENEFIT PLANS </b></font></p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper sponsors and maintains the Retirement Plan of International Paper Company (the "Pension Plan"), a tax-qualified defined benefit pension plan that provides retirement benefits to substantially all U.S. salaried employees and hourly employees (receiving salaried benefits) hired prior to July 1, 2004, and substantially all other U.S. hourly and union employees who work at a participating business unit regardless of hire date. These employees generally are eligible to participate in the Pension Plan upon attaining 21 years of age and completing one year of eligibility service. U.S. salaried employees and hourly employees (receiving salaried benefits) hired after June 30, 2004, are not eligible to participate in the Pension Plan, but receive a company contribution to their individual savings plan accounts (see "Other U.S. Plans" on page 85). The
Pension Plan provides defined pension benefits based on years of credited service and either final average earnings (salaried employees and hourly employees receiving salaried benefits), hourly job rates or specified benefit rates (hourly and union employees). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Former Weyerhaeuser Company salaried and hourly employees acquired by International Paper in the CBPR acquisition became participants in the Pension Plan if they were hired by Weyerhaeuser prior to July 1, 2004. Acquired salaried employees and hourly employees (receiving salaried benefits) hired by Weyerhaeuser after June 30, 2004 are not eligible to participate in the Pension Plan and instead receive a company contribution to their savings plan accounts. </font></p></div><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with the CBPR acquisition, International Paper assumed sponsorship in 2008 of the Western Kraft, Albany, Oregon, Hourly Employees' Retirement Plan, a defined benefit pension plan covering hourly employees at the Albany, Oregon mill. The assets and liabilities of that plan were merged into the Pension Plan as of December 31, 2009. </font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company's funding policy for the Pension Plan is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that the Company may determine to be appropriate considering the funded status of the plans, tax deductibility, cash flow generated by the Company, and other factors. The Company continually reassesses the amount and timing of any discretionary contributions. Voluntary contributions totaling $<font class="_mt">1.15</font> billion were made by the Company in 2010. No contributions were made in 2009 or 2008. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company also has two unfunded nonqualified defined benefit pension plans: a Pension Restoration Plan available to employees hired prior to July 1, 2004 that provides retirement benefits based on eligible compensation in excess of limits set by the Internal Revenue Service, and a supplemental retirement plan for senior managers (SERP), which is an alternative retirement plan for salaried employees who are senior vice presidents and above or who are designated by the chief executive officer as participants. These nonqualified plans are only funded to the extent of benefits paid, which totaled $<font class="_mt">37</font> million, $<font class="_mt">35</font> million and $<font class="_mt">24</font> million in 2010, 2009 and 2008, respectively, and which are expected to be $<font class="_mt">36</font> million in 2011. <
;/font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Net Periodic Pension Expense </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Service cost is the actuarial present value of benefits attributed by the plans' benefit formula to services rendered by employees during the year. Interest cost represents the increase in the projected benefit obligation, which is a discounted amount, due to the passage of time. The expected return on plan assets reflects the computed amount of current-year earnings from the investment of plan assets using an estimated long-term rate of return. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Net periodic pension expense for qualified and nonqualified U.S. defined benefit plans comprised the following: </font></p></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>116</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">540</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(631</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(634</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(672</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">160</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net periodic pension expense (a)</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>231</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">213</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">123</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Excludes $<font class="_mt">1.1</font> million in 2008 in curtailment losses, and $<font class="_mt">83.2</font> million and $<font class="_mt">13.9</font> million in 2009 and 2008, respectively, of termination benefits, in connection with cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations. </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The increase in 2010 pension expense reflects a decrease in the assumed discount rate to <font class="_mt">5.80</font>% in 2010 from <font class="_mt">6.00</font>% in 2009 and higher amortization of unrecognized actuarial losses. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper evaluates its actuarial assumptions annually as of December 31 (the measurement date) and considers changes in these long-term factors based upon market conditions and the requirements for employers' accounting for pensions. These assumptions are used to calculate benefit obligations as of December 31 of the current year and pension expense to be recorded in the following year (i.e., the discount rate used to determine the benefit obligation as of December 31, 2010 was also the discount rate used to determine net pension expense for the 2011 year). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Weighted average assumptions used to determine net pension expense for 2010, 2009 and 2008 were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.80</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.75</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Weighted average assumptions used to determine benefit obligations as of December 31, 2010 and 2009, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.60</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.75</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The expected long-term rate of return on plan assets is based on projected rates of return for current and planned asset classes in the plan's investment portfolio. Projected rates of return are developed through an asset/liability study in which projected returns for each of the plan's asset classes are determined after analyzing historical experience and future expectations of returns and volatility of the various asset classes. Based on the target asset allocation for each asset class, the overall expected rate of return for the portfolio is developed considering the effects of active portfolio management and expenses paid from plan assets. The discount rate assumption was determined based on a yield curve that incorporates approximately <font class="_mt">500</font> Aa-graded bonds. The plan's projected cash flows were then matched to the yield curve to d
evelop the discount rate. To calculate pension expense for 2011, the Company will use an expected long-term rate of return on plan assets of <font class="_mt">8.25</font>%, a discount rate of <font class="_mt">5.60</font>% and an assumed rate of compensation increase of <font class="_mt">3.75</font>%. The Company estimates that it will record net pension expense of approximately $<font class="_mt">179</font> million for its U.S. defined benefit plans in 2011, with the decrease from expense of $<font class="_mt">231</font> million in 2010 reflecting increased plan assets and higher than expected asset returns in 2010, partially offset by a decrease in the discount rate. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify">The following illustrates the effect on pension expense for 2011 of a 25 basis point decrease in the above assumptions: </p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expense/(Income):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Investment Policy / Strategy </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper's Board of Directors has appointed a Fiduciary Review Committee that is responsible for fiduciary oversight of the Pension Plan, approving investment policy and reviewing the management and control of plan assets. Pension Plan assets are invested to maximize returns within prudent levels of risk. The Pension Plan maintains a strategic asset allocation policy that designates target allocations by asset class. Investments are diversified across classes and within each class to minimize the risk of large losses. Derivatives, including swaps, forward and futures contracts, may be used as asset class substitutes or for hedging or other risk management purposes. Periodic reviews are made of investment policy objectives and investment manager performance. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper's pension allocations by type of fund at December 31, and target allocations were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="62%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Asset Class</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Target</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Allocations</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equity accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>49</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">40% - 51%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fixed income accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">30% - 40%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Real estate accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">7% - 13%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">9% - 18%</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>100</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">100</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The fair values of International Paper's pension plan assets at December 31, 2010 by asset class are shown below. Plan assets included an immaterial amount of International Paper common stock at December 31, 2010. No International Paper shares were included in plan assets in 2009. Hedge funds disclosed in the following table are allocated equally between equity and fixed income accounts for target allocation purposes. Cash and cash equivalent portfolios are allocated to the types of account from which they originated. Mortgage backed securities were transferred from significant unobservable inputs (Level 3) in 2009 to significant observable inputs (Level 2) in 2010 as a result of identifying observable market data for the securities. </font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="44%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="16" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value Measurement at December 31, 2010</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Asset Class</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quoted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Prices</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">in</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Active</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Markets</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">For</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Identical</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 1)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Significant</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Observable</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Inputs</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 2)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Significant</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Unobservable</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Inputs</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 3)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equities - domestic</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,921</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">860</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equities - international</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,317</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,005</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">312</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Common collective funds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">305</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">291</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate bonds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">817</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">817</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Government securities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">936</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">936</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Mortgage backed securities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other fixed income</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Commodities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">264</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">234</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Hedge funds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">681</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">662</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Private equity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">415</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">415</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Real estate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Derivatives</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">349</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">338</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and cash equivalents</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">465</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">460</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total Investments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,880</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4,142</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,322</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Equity securities consist primarily of publicly traded U.S. companies and international companies and common collective funds. Publicly traded equities are valued at the closing prices reported in the active market in which the individual securities are traded. Common collective funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Fixed income consists of corporate bonds, government securities, and common collective funds. Government securities are valued by third-party pricing sources. Corporate bonds are valued using either the yields currently available on comparable securities of issuers with similar credit ratings or using a discounted cash flows approach that utilizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks. Common collective funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Commodities consist of commodity-linked notes and commodity-linked derivatives. Commodities are valued at closing prices determined by calculation agents for outstanding transactions. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><font class="_mt" size="1"> </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Hedge funds are investment structures that pursue a diverse array of investment strategies with a wide range of different securities and derivative instruments. These investments are made through funds-of-funds (commingled, multi-manager fund structures) and through direct investments in individual hedge funds. Hedge funds are primarily valued by each fund's third party administrator based upon the valuation of the underlying securities and instruments and primarily by applying a market or income valuation methodology as appropriate depending on the specific type of security or instrument held. Funds-of-funds are valued based upon the net asset values of the underlying investments in hedge funds. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Private equity consists of interests in partnerships that invest in U.S. and non-U.S. debt and equity securities. Partnership interests are valued using the most recent general partner statement of fair value, updated for any subsequent partnership interest cash flows. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Real estate includes commercial properties, land and timberland, and generally includes, but is not limited to, retail, office, industrial, multifamily and hotel properties. Real estate holdings, taken together, are intended to have characteristics similar to, but not necessarily equal to, the National Council of Real Estate Investment Fiduciaries (NCREIF) Property Index. Real estate fund values are primarily reported by the fund manager and are based on valuation of the underlying investments which include inputs such as cost, discounted cash flows, independent appraisals and market based comparable data. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Derivative investments such as futures, forward contracts, options, and swaps are used to help manage risks. Derivatives are generally employed as asset class substitutes (such as when employed within a portable alpha strategy), for managing asset/liability mismatches, or bona fide hedging or other appropriate risk management purposes. Derivative instruments are generally valued by the investment managers or in certain instances by third party pricing sources. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The fair value measurements using significant unobservable inputs (Level 3) at December 31, 2010 were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font size="2" class="_mt"> </font> </p></div>
<div class="MetaData">
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Fair Value Measurements Using Significant </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Unobservable Inputs (Level 3) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
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<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equities-</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Domestic</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equities-</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>International</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fixed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Common</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Collective</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Corporate</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Bonds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Government</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Securities</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Mortgage</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Backed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Securities</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Other</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fixed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Comm-<br />odities</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Hedge</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Private</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equity</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Real</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Estate</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Deriv-<br />atives</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Beginning balance at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"> 668</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">344</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">457</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,150</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Actual return on plan assets:</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Relating to assets still held at the reporting date</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>43</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>68</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>210</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Relating to assets sold during the period</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>65</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Purchases, sales and settlements</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(18</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(18</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>150</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(64</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>68</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Transfers in and/or out of Level 3 (a)</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(175</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(176</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Ending balance at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>234</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>662</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>415</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>650</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>338</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,322</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Transferred out of Level 3 to Level 2 because market data for these securities was observable. </i></font></p></td></tr></table></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, projected future pension benefit payments, excluding any termination benefits, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="89%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">628</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">622</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">624</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">630</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">639</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2016 – 2020</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,348</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Pension Plan Asset / Liability </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">As required by ASC 715, "Compensation – Retirement Benefits," the pension plan funded status must be recorded on the consolidated balance sheet. Therefore, pension plan gains or losses and prior service costs not yet recognized in net periodic cost are recognized on a net-of-tax basis in OCI. These amounts will be subject to amortization in the future. At December 31, 2010, the fair value of plan assets for the Pension Plan was less than the projected benefit obligation (PBO). However, the deficit was lower than at December 31, 2009, resulting in a decrease in the recorded minimum pension obligation of $<font class="_mt">1.3</font> billion and an after-tax credit to OCI of $<font class="_mt">92</font> million. An after-tax credit to OCI of $<font class="_mt">318</font> million and an after-tax charge to OCI of $<
font class="_mt">1.8</font> billion had been recorded for 2009 and 2008, respectively. For the unfunded nonqualified plans, changes in the liabilities resulted in after-tax charges to OCI of $<font class="_mt">19</font> million, $<font class="_mt">9</font> million and $<font class="_mt">5</font> million in 2010, 2009 and 2008, respectively. In 2008, in conjunction with the CBPR business acquisition, the Company acquired a small overfunded pension plan covering hourly employees at the Albany, Oregon mill. For this plan, the Company recorded an after-tax charge to OCI of $<font class="_mt">13</font> million at December 31, 2008. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font> </p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The accumulated benefit obligation for all defined benefit plans was $<font class="_mt">9.6</font> billion and $<font class="_mt">9.3</font> billion at December 31, 2010 and 2009, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table summarizes information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2010 and 2009. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Projected benefit obligation</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,824</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,544</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated benefit obligation</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,594</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,312</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,784</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Unrecognized Actuarial Losses </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">ASC 715, "Compensation – Retirement Benefits" provides for delayed recognition of actuarial gains and losses, including amounts arising from changes in the estimated projected plan benefit obligation due to changes in the assumed discount rate, differences between the actual and expected return on plan assets and other assumption changes. These net gains and losses are recognized prospectively over a period that approximates the average remaining service period of active employees expected to receive benefits under the plans (approximately <font class="_mt">9</font> years as of December 31, 2010) to the extent that they are not offset by gains in subsequent years. The estimated net loss and prior service cost that will be amortized from AOCI into net periodic pension cost during the next fiscal year are expected to be $<font class="_mt"
>204</font> million and $<font class="_mt">31</font> million, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table shows the changes in the benefit obligation and plan assets for 2010 and 2009, and the plans' funded status. The benefit obligation as of December 31, 2010 increased by $<font class="_mt">281</font> million, principally as a result of a decrease in the discount rate assumption used in computing the estimated benefit obligation. Plan assets increased by $<font class="_mt">1.6</font> billion, reflecting favorable investment results and the $<font class="_mt">1.15</font> billion voluntary contribution. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,544</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,275</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>116</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>264</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">134</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(646</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(617</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special termination benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plan amendments</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,824</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,544</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,784</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,079</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actual return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,019</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,287</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,187</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(646</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(617</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,784</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,480</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,760</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top" colspan="8">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet:</font></p></td>
<td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(41</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,444</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,719</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,480</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,760</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,412</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,712</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>183</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">206</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,595</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,918</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The components of the $<font class="_mt">323</font> million decrease in the amounts recognized in OCI during 2010 consisted of: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="89%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment effects</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(123</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year prior service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(323</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The portion of the change in the funded status that was recognized either in net periodic benefit costs or OCI was $<font class="_mt">(92)</font> million, $<font class="_mt">(483)</font> million and $<font class="_mt">3</font> billion for 2010, 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>NON-U.S. DEFINED BENEFIT PLANS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Generally, International Paper's non-U.S. pension plans are funded using the projected benefit as a target, except in certain countries where funding of benefit plans is not required. Net periodic pension expense for non-U.S. plans was as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlement gain</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net periodic pension expense</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Weighted average assumptions used to determine net pension expense for 2010, 2009 and 2008 were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6.45%</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.37%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.40%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.20%</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.88%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.87%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4.06%</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.81%</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.55%</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Weighted average assumptions used to determine benefit obligations as of December 31, 2010 and 2009, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6.01</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.07</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4.06</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table shows the changes in the benefit obligation and plan assets for 2010 and 2009, and the plans' funded status as of December 31, 2010 and 2009. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>186</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">168</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of foreign currency exchange rate movements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(5</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>183</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">186</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>150</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">115</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actual return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of foreign currency exchange rate movements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>156</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">150</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(36</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current asset</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(38</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(46</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(36</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income (pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss (gain)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The components of the $<font class="_mt">2</font> million increase in the amounts recognized in OCI during 2010 consisted of: </font></p></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="92%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment effects</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The portion of the change in the funded status that was recognized in either net periodic benefit cost or OCI was $<font class="_mt">1</font> million, $<font class="_mt">(11)</font> million and $<font class="_mt">40</font> million for 2010 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">For non-U.S. plans with accumulated benefit obligations in excess of plan assets, the projected benefit obligations, accumulated benefit obligations and fair values of plan assets totaled $<font class="_mt">42</font> million, $<font class="_mt">34</font> million and $<font class="_mt">2</font> million, respectively, at December 31, 2010. Plan assets consist principally of common stock and fixed income securities. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>OTHER U.S. PLANS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper sponsors the International Paper Company Salaried Savings Plan and the International Paper Company Hourly Savings Plan, both of which are tax-qualified defined contribution 401(k) savings plans. Substantially all U.S. salaried and certain hourly employees are eligible to participate and may make elective deferrals to such plans to save for retirement. International Paper makes matching contributions to participant accounts on a specified percentage of employee deferrals as determined by the provisions of each plan. For eligible employees hired after June 30, 2004, the Company makes Retirement Savings Account contributions equal to a percentage of an eligible employee's pay. From February 1, 2009 to December 31, 2010, matching contributions to the International Paper Salaried Savings Plan were made in Company stock. Beginning in Janu
ary 2011, matching contributions to the International Paper Salaried Savings Plan will be made in the form of cash contributions. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company also sponsors the International Paper Company Deferred Compensation Savings Plan, which is an unfunded nonqualified defined contribution plan. This plan permits eligible employees to continue to make deferrals and receive company matching contributions when their contributions to the International Paper Salaried Savings Plan are stopped due to limitations under U.S. tax law. Participant deferrals and company matching contributions are not invested in a separate trust, but are paid directly from International Paper's general assets at the time benefits become due and payable. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Company matching contributions to the plans totaled approximately $<font class="_mt">87</font> million, $<font class="_mt">121</font> million and $<font class="_mt">80</font> million for the plan years ending in 2010, 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p> </div>
0
0
-1150000000
123000000
213000000
231000000
0.69
1
100
1
100
8750000
400000
8750000
400000
37000000
10000000
11000000
11000000
11000000
12000000
14000000
0
0
1000000
0
0
6024000000
3229000000
193000000
3000000000
1000000000
4800000000
41000000
-157000000
-42000000
-36000000
20000000
38000000
-1279000000
0
0
0
3000000
-1282000000
-1282000000
0
681000000
0
0
0
18000000
663000000
663000000
0
665000000
0
0
0
21000000
644000000
644000000
0
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="72%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pulp, paper and packaging facilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Mills</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>22,935</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22,615</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging plants</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,534</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,348</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other plants, properties and equipment</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,524</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,542</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30,993</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30,505</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: Accumulated depreciation</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18,991</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17,817</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Plants, properties and equipment, net</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12,002</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12,688</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
30505000000
30993000000
12688000000
12002000000
1542000000
1524000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PLANTS, PROPERTIES AND EQUIPMENT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Plants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are capitalized, whereas normal repairs and maintenance are expensed as incurred. The units-of-production method of depreciation is used for major pulp and paper mills, and the straight-line method is used for other plants and equipment. Annual straight-line depreciation rates are, for buildings – 2 1/2% to 8 1/2%, and for machinery and equipment – 5% to 33%. </font></p> </div>
<div> <font class="_mt" size="1">
</font>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><a name="rom40096_51"> </a>INTERIM FINANCIAL RESULTS (UNAUDITED) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts and stock prices</i></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">st</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">nd</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">rd</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">4</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">th</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Year</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2010</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Net sales</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>5,807</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,121</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,720</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,531</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>25,179</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Gross margin (a)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,343</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,631</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,962</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,761</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,697</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(175</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>118</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>547</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>332</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>822</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b,d,e) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Net earnings (loss) attributable to International Paper Company</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(162</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>93</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>397</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>316</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>644</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Basic earnings (loss) per share attributable to International Paper Company common shareholders</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(0.38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.22</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.92</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.74</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Diluted earnings (loss) per share attributable to International Paper Company common shareholders</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(0.38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.91</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.73</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1.48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Dividends per share of common stock</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.025</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Common stock prices</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>High</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>28.61</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>29.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>25.79</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>27.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>29.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Low</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>21.66</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>20.50</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>19.33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>21.44</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>19.33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2">2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Net sales</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,668</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,802</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,919</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,977</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">23,366</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Gross margin (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1,937</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,021</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,161</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,027</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">8,146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings (loss) from continuing operations before income taxes and</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">equity earnings</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">518</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">520</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">589</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(428</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1,199</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g,h,j,k) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Net earnings (loss) attributable to International Paper Company</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">371</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(101</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Basic earnings (loss) per share attributable to International Paper Company common shareholders</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.61</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(0.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1.56</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Diluted earnings (loss) per share attributable to International Paper Company common shareholders</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.61</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(0.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1.55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Dividends per share of common stock</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.325</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Common stock prices</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2">High</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">12.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">15.96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">25.30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">27.79</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">27.79</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2">Low</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3.93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">6.80</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">13.82</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">20.38</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3.93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>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.</i></font></p></div>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Footnotes to Interim Financial Results </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(a)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(b)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $<font class="_mt">204</font> million ($<font class="_mt">124</font> million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $<font class="_mt">190</font> million of accelerated depreciation), a pre-tax charge of $<font class="_mt">4</font> million ($<font class="_mt">2</font> million after taxes) for early debt extinguishment costs, a pre-tax charge of $<font class="_mt">3</font> million ($<font class="_mt">2</font> million after taxes) for costs associated with the reorganization of the Company's Shorewood operations and charges of $<font class="_mt">4</font> million, before and after taxes, for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(c)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes after-tax charges of $<font class="_mt">14</font> million and $<font class="_mt">32</font> million for tax adjustments related to incentive compensation and postretirement prescription drug coverage, respectively. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(d)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $<font class="_mt">111</font> million ($<font class="_mt">68</font> million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $<font class="_mt">46</font> million of accelerated depreciation and $<font class="_mt">36</font> million of environmental closure costs), a pre-tax charge of $<font class="_mt">18</font> million ($<font class="_mt">11</font> million after taxes) for early debt extinguishment costs, a pre-tax charge of $<font class="_mt">11</font> million ($<font class="_mt">7</font> million after taxes) for an Ohio Commercial Activity tax adjustment and charges of $<font class="_mt">4</font> million ($<font class="_mt">2</font> million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(e)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $<font class="_mt">18</font> million ($<font class="_mt">11</font> million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $<font class="_mt">12</font> million ($<font class="_mt">7</font> million after taxes) for closure costs related to the Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $<font class="_mt">13</font> million ($<font class="_mt">8</font> million after taxes) for early debt extinguishment costs, a pre-tax charge of $<font class="_mt">5</font> million ($<font class="_mt">3</font> million after taxes) for severance and benefit costs associated with the Company's S&A reduction initiative, a pre-tax charge of $<font class="_mt">4</font> million ($<font
class="_mt">3</font> million after taxes) for costs associated with the reorganization of the Company's Shorewood operations, a pre-tax charge of $<font class="_mt">3</font> million ($<font class="_mt">2</font> million after taxes) for costs associated with the shutdown of three box plants in Asia, a pre-tax gain of $<font class="_mt">25</font> million ($<font class="_mt">15</font> million after taxes) related to the partial redemption of the Company's interest in Arizona Chemical, a charge of $<font class="_mt">2</font> million, before and after taxes, for asset impairment costs associated with the Inverurie, Scotland mill which was closed in 2009 and a net pre-tax gain of $<font class="_mt">2</font> million ($<font class="_mt">1</font> million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(f)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a tax benefit of $<font class="_mt">40</font> million related to cellulosic bio-fuel tax credits. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(g)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $<font class="_mt">540</font> million ($<font class="_mt">330</font> million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $<font class="_mt">36</font> million ($<font class="_mt">22</font> million after taxes) for integration costs associated with the Containerboard, Packaging and Recycling business (CBPR) acquired in August 2008, a pre-tax charge of $<font class="_mt">52</font> million ($<font class="_mt">32</font> million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $<font class="_mt">23</font> million ($<font class="_mt">28</font> million after taxes) for closure costs associated with the Inverurie, Scotland mill, a pre-tax charge of $<font class="_mt">6</font> milli
on ($<font class="_mt">4</font> million after taxes) for shutdown costs associated with the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center, and a pre-tax charge of $<font class="_mt">2</font> million ($<font class="_mt">1</font> million after taxes) for shutdown costs associated with the reorganization of the Company's Shorewood operations. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(h)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $<font class="_mt">482</font> million ($<font class="_mt">294</font> million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $<font class="_mt">18</font> million ($<font class="_mt">11</font> million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $<font class="_mt">34</font> million ($<font class="_mt">21</font> million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $<font class="_mt">25</font> million ($<font class="_mt">16</font> million after taxes) for early debt extinguishment costs, a charge of $<font class="_mt">15</font> million, before and after taxes, for severance and other costs associated with the planned closure of
the Etienne mill in France, a pre-tax charge of $<font class="_mt">48</font> million, before and after taxes, to write down the assets of the Etienne mill to estimated fair value and a pre-tax charge of $<font class="_mt">5</font> million ($<font class="_mt">3</font> million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(i)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a $<font class="_mt">156</font> million tax expense for the write-off of deferred tax assets in France and a $<font class="_mt">26</font> million tax benefit related to the settlement of the 2004 and 2005 U.S. federal income tax audit and related income tax effects. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(j)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $<font class="_mt">525</font> million ($<font class="_mt">320</font> million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $<font class="_mt">18</font> million ($<font class="_mt">11</font> million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $<font class="_mt">39</font> million ($<font class="_mt">24</font> million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $<font class="_mt">102</font> million ($<font class="_mt">62</font> million after taxes) for early debt extinguishment costs, a charge of $<font class="_mt">7</font> million, before and after taxes, for costs associated with the planned closure of the Etienne mill in
France, and a pre-tax charge of $<font class="_mt">3</font> million ($<font class="_mt">2</font> million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(k)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $<font class="_mt">516</font> million ($<font class="_mt">469</font> million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $<font class="_mt">15</font> million ($<font class="_mt">10</font> million after taxes) for integration costs associated with the CBPR acquisition, pre-tax charges of $<font class="_mt">469</font> million ($<font class="_mt">286</font> million after taxes), $<font class="_mt">290</font> million ($<font class="_mt">177</font> million after taxes) and $<font class="_mt">102</font> million ($<font class="_mt">62</font> million after taxes) for shutdown costs for the Albany, Oregon, Franklin, Virginia, and Pineville, Louisiana mills, respectively, a pre-tax charge of $<font class="_mt">82</font> million ($<font class
="_mt">50</font> million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $<font class="_mt">23</font> million ($<font class="_mt">15</font> million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $<font class="_mt">58</font> million ($<font class="_mt">35</font> million after taxes) for early debt extinguishment costs, a charge of $<font class="_mt">9</font> million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $<font class="_mt">8</font> million to write down the assets at the Etienne mill to estimated fair value, pre-tax charges of $<font class="_mt">5</font> million ($<font class="_mt">3</font> million after taxes) and $<font class="_mt">2</fon
t> million ($<font class="_mt">1</font> million after taxes) for costs associated with the reorganization of the Company's xpedx and Shorewood operations, respectively, and a pre-tax charge of $<font class="_mt">3</font> million ($<font class="_mt">0</font> million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="24" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(l)</font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a $<font class="_mt">15</font> million write-off of a deferred tax asset for a recycling tax credit in the state of Louisiana. </font></p></td></tr></table> </div>
2300000000
3174000000
515000000
524000000
749000000
616000000
2564000000
696000000
6318000000
500000000
638000000
170000000
1000000000
120000000
576000000
111000000
366000000
75000000
875000000
942000000
468000000
214000000
235000000
108000000
54000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 4 RESTRUCTURING CHARGES AND OTHER ITEMS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">This footnote discusses restructuring charges and other items recorded for each of the three years included in the period ended December 31, 2010. It includes a summary of activity for each year, a rollforward associated with severance and other cash costs arising in each year, and tables presenting details of the 2010, 2009 and 2008 organizational restructuring programs. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>RESTRUCTURING AND OTHER CHARGES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2010:</b> During 2010, total restructuring and other charges of $<font class="_mt">394</font> million before taxes ($<font class="_mt">242</font> million after taxes) were recorded. These charges included: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="78%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Before-Tax</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>After-Tax</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Franklin, Virginia mill – closure costs</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 192</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Early debt extinguishment costs (see Notes 12 and 13)</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Write-off of Ohio Commercial Activity tax receivable</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shorewood Packaging reorganization</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Bellevue, Washington container facility – closure costs</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>S&A reduction initiative</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Spartanburg, South Carolina container facility – closure costs</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Etienne mill – severance and other costs</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Other</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 242</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents the $394 million restructuring and other charges by business: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="54%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>First</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Second</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Third</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fourth</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Industrial Packaging</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a,b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(b)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Printing Papers</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>204<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>111<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Consumer Packaging</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3 <sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1 <sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Corporate</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>52</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>215</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>144</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million of other charges related to the shutdown of the Pineville, Louisiana mill and $<font class="_mt">1</font> million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">3</font> million of severance charges related to the shutdown of the Etienne mill in France. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes a gain of $<font class="_mt">2</font> million related to the shutdown of the Albany, Oregon mill; a $<font class="_mt">3</font> million charge to write down the value of land, $<font class="_mt">2</font> million of accelerated depreciation and $<font class="_mt">2</font> million of severance charges related to the closure of the Bellevue, Washington container facility; $<font class="_mt">1</font> million of accelerated depreciation, $<font class="_mt">2</font> million of severance charges and $<font class="_mt">2</font> million of other charges related to the closure of the Spartanburg, South Carolina container facility; and $<font class="_mt">2</font> million of severance charges and $<font class="_mt">1</font> million of other costs related to the closure of certain of the Company's Asian box plant
s. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">236</font> million of accelerated depreciation, $<font class="_mt">36</font> million of environmental closure costs, $<font class="_mt">30</font> million of severance charges and $<font class="_mt">13</font> million of other charges related to the shutdown of the Franklin, Virginia mill </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">3</font> million of accelerated depreciation, $<font class="_mt">1</font> million of severance charges and $<font class="_mt">4</font> million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Included in the $<font class="_mt">394</font> million of organizational restructuring and other charges is $<font class="_mt">46</font> million of severance charges. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents a roll forward of the severance and other costs for approximately <font class="_mt">1,650</font> employees included in the 2010 restructuring charges: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="81%"> </td>
<td valign="bottom" width="17%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Severance</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>and Other</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Opening balance (recorded first quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>20</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (second quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (third quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (fourth quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010 activity</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cash charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(32</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance, December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">As of December 31, 2010, <font class="_mt">1,388</font> employees had left the Company under these programs. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2009:</b> During 2009, total restructuring and other charges of $1.4 billion before taxes ($<font class="_mt">853</font> million after taxes) were recorded. These charges included: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Before-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">After-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Albany, Oregon containerboard mill – closure costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">286</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Franklin, Virginia paper mill and associated operations – closure costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">290</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Early debt extinguishment costs (see Notes 12 and 13)</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">185</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">113</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 overhead reduction program – severance and benefits</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">92</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pineville, Louisiana containerboard mill – closure costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valliant, Oklahoma containerboard mill – paper machine shutdown costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Etienne mill – severance and other costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inverurie mill – closure costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">853</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents the $1.4 billion restructuring and other charges by business: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="51%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>First</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Second</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Third</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fourth</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaing</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">662<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a,b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">684</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">c,d)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">223<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">69<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">f,g)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">59</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">141</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">81</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">333</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">79</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">151</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,040</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">19</font> million of severance charges and $<font class="_mt">12</font> million of other charges related to the shutdown of the Etienne mill in France. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">82</font> million of accelerated depreciation and other noncash charges, $<font class="_mt">9</font> million of severance charges, $<font class="_mt">10</font> million of environmental charges and $<font class="_mt">1</font> million of other charges related to the shutdown of the Pineville, Louisiana mill; $<font class="_mt">438</font> million of accelerated depreciation and other noncash charges, $<font class="_mt">21</font> million of severance charges and benefit costs, $<font class="_mt">9</font> million of environmental charges and $<font class="_mt">1</font> million of other charges related to the shutdown of the Albany, Oregon mill; and $<font class="_mt">81</font> million of accelerated depreciation and other noncash charges and $<font class="_mt">1</font> milli
on of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">17</font> million of severance charges and $<font class="_mt">6</font> million of other charges related to the shutdown of the Inverurie mill in Scotland. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">5</font> million of severance charges and $<font class="_mt">3</font> million of other charges related to the shutdown of the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center and $<font class="_mt">3</font> million of charges related to the shutdown of the Bastrop, Louisiana mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">199</font> million of accelerated depreciation and other noncash charges, $<font class="_mt">23</font> million of severance charges and $<font class="_mt">1</font> million of other charges related to the shutdown of the Franklin, Virginia mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million of accelerated depreciation charges, $<font class="_mt">2</font> million of severance charges and $<font class="_mt">3</font> million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">59</font> million of accelerated depreciation charges and other noncash charges, $<font class="_mt">7</font> million of severance charges and $<font class="_mt">1</font> million of other charges related to the shutdown of the Franklin, Virginia mill. </i></font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Included in the $1.4 billion of organizational restructuring and other charges is $<font class="_mt">166</font> million of severance charges and $<font class="_mt">85</font> million of related benefits for approximately <font class="_mt">3,175</font> employees. As of December 31, 2010, all of these employees had been terminated. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents a rollforward of the severance and other costs included in the 2009 restructuring charges: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="81%"> </td>
<td valign="bottom" width="17%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Severance</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>and Other</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Opening balance (recorded first quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (second quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (third quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (fourth quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2009 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pension and postretirement termination benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(85</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010 activity</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cash charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(84</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance, December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2008: </b>During 2008, total restructuring and other charges of $<font class="_mt">370</font> million before taxes ($<font class="_mt">227</font> million after taxes) were recorded. These charges included: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="65%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Before-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">After-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Bastrop, Louisiana mill – shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Legal reserve adjustments (see Note 10)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 overhead reduction program – severance and benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Write-off of supply chain initiative development costs for U.S. container operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Franklin, Virginia mill – paper machine shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shorewood Packaging Canada – restructuring costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Ace Packaging – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">227</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents the $<font class="_mt">370</font> million restructuring and other charges by business: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="56%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">First</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Second</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Third</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fourth</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">89</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">179</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">97</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million of accelerated depreciation charges, $<font class="_mt">2</font> million of severance charges and $<font class="_mt">4</font> million of other charges related to the closure of the Ace Packaging business. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">71</font> million of accelerated depreciation charges, $<font class="_mt">32</font> million of severance charges, $<font class="_mt">11</font> million of environmental expenses, and $<font class="_mt">9</font> million of other charges related to the shutdown of the Bastrop, Louisiana mill, and $<font class="_mt">23</font> million of accelerated depreciation charges, $<font class="_mt">6</font> million of severance charges, and $<font class="_mt">1</font> million of other charges related to the shutdown of a paper machine at the Franklin, Virginia mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">22</font> million of severance charges, $<font class="_mt">7</font> million of accelerated depreciation charges and $<font class="_mt">1</font> million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Included in the $<font class="_mt">370</font> million of organizational restructuring and other charges is $<font class="_mt">38</font> million of severance charges and $<font class="_mt">15</font> million of related benefits for approximately <font class="_mt">1,675</font> employees related to the Company's 2008 overhead cost reduction initiative. As of December 31, 2009, all of these employees had been terminated. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents a roll forward of the severance and other costs included in the 2008 restructuring charges: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="83%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Severance</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">and Other</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Opening balance (recorded first quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (second quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (third quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (fourth quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">97</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2009 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(96</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance, December 31, 2009</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Alternative Fuel Mixture Credits </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The U.S. Internal Revenue Code provided a tax credit for companies that use alternative fuel mixtures to produce energy to operate their businesses. The credit, equal to $<font class="_mt">0.50</font> per gallon of alternative fuel contained in the mixture, is refundable to the taxpayer. In January 2009, the Company received notification that its application to be registered as an alternative fuel mixer had been approved. For the year ended December 31, 2009, the Company filed claims for alternative fuel mixture credits covering eligible periods subsequent to November 2008 through October 25, 2009 totaling approximately $<font class="_mt">1.7</font> billion, all of which had been received in cash at December 31, 2009. Additionally, the Company had recorded $<font class="_mt">379</font> million of alternative fuel mix
ture credits as a reduction of income taxes payable at December 31, 2009. Accordingly, the accompanying consolidated statement of operations includes credits of approximately $<font class="_mt">2.1</font> billion for the year ended December 31, 2009 in Cost of products sold ($<font class="_mt">1.4</font> billion after taxes), representing eligible alternative fuel mixture credits earned through December 31, 2009, when the credit expired. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cellulosic Bio-fuel Tax Credit </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In a memorandum dated June 28, 2010, the IRS concluded that black liquor would also qualify for the cellulosic bio-fuel tax credit of $<font class="_mt">1.01</font> per gallon produced in 2009. On October 15, 2010, the IRS ruled that companies may qualify in the same year for the $0.50 per gallon alternative fuel mixture credit and the $1.01 cellulosic bio-fuel tax credit for 2009, but not for the same gallons. To the extent a taxpayer changes their position and uses the $1.01 credit, they must re-pay the refunds they received as alternative fuel mixture credits attributable to the gallons converted to the cellulosic bio-fuel credit. The repayment of this refund must include interest. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">One important difference between the two credits is that the $1.01 credit must be credited against a company's Federal taxable earnings, and the credit may be carried forward against taxable earnings through 2015. In contrast, the $0.50 credit is refundable in cash. The cellulosic bio-fuel credit is required to be included in Federal taxable income. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company filed an application with the IRS on November 18, 2010, to receive the required registration code to become a registered cellulosic bio-fuel producer. At present, the Company has not received this registration code; however, the Company believes approval of the application for the registration code to be ministerial in nature. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company has evaluated the optimal use of the two credits with respect to gallons produced in 2009. Considerations include uncertainty around future federal taxable income, the taxability of the alternative fuel mixture credit, future liquidity and uses of cash such as but not limited to debt re-payments and voluntary pension contributions versus repayment of alternative fuel mixture credits with interest. At the present time, the Company does not intend to convert any gallons under the alternative fuel mixture credit to gallons under the cellulosic bio-fuel credit. The Company will continue evaluating its position with regard to the previously claimed alternative fuel mixture credit gallons produced in 2009. This continued evaluation may result in the Company repaying some or all of the cash received with respect to the $0.50 credit, and amendment of the Company's 2009 tax r
eturn. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During 2009, the Company did produce <font class="_mt">64</font> million gallons of black liquor that were not eligible for the alternative fuel mixture credit. The Company does intend to claim these gallons for the cellulosic bio-fuel credit by amending the Company's 2009 tax return. The impact of this amendment, which has been included in the Company's 2010 Income tax provision (benefit), is a $<font class="_mt">40</font> million net credit to tax expense. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">As is the case with other tax credits, taxpayer claims are subject to possible future review by the IRS which has the authority to propose adjustments to the amounts claimed, or credits received. </font></p></div> </div>
0
0
14000000
-85000000
7000000
11000000
5000000
97000000
74000000
48000000
45000000
84000000
20000000
15000000
0
11000000
24000000
96000000
82000000
84000000
32000000
1949000000
2416000000
<div>
<div><font style="font-family: ARIAL;" class="_mt" size="2"> </font>
<div><font style="font-family: ARIAL;" class="_mt" size="2"> </font>
<div>
<div><font style="font-family: ARIAL;" class="_mt" size="2"> </font>
<div class="MetaData">
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>REVENUE RECOGNITION </b></font></p>
<div class="MetaData">
<div class="MetaData">
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Revenue is recognized when the customer takes title and assumes the risks and rewards of ownership. Revenue is recorded at the time of shipment for terms designated f.o.b. (free on board) shipping point. For sales transactions designated f.o.b. destination, revenue is recorded when the product is delivered to the customer's delivery site, when title and risk of loss are transferred. Timber and forestland sales revenue is generally recognized when title and risk of loss pass to the buyer.</font></p></div></div></div></div></div></div></div></div></div> </div>
24829000000
827000000
3195000000
-1036000000
7970000000
3177000000
24829000000
200000000
7690000000
1324000000
6810000000
19501000000
2982000000
7928000000
47000000
7465000000
6407000000
5668000000
23366000000
1002000000
3060000000
-834000000
6525000000
2716000000
23366000000
45000000
8890000000
1293000000
5680000000
18355000000
2911000000
6486000000
42000000
8813000000
5114000000
5802000000
5919000000
5977000000
5807000000
25179000000
1377000000
3400000000
-956000000
6735000000
2839000000
25179000000
220000000
9840000000
1462000000
5940000000
19501000000
3241000000
6683000000
223000000
9812000000
5220000000
6121000000
6720000000
6531000000
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Trade</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,854</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,476</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>185</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">219</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,039</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,695</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
<div> <div class="MetaData">
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Fair Value Measurements </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Level 2 – Significant Other Observable Inputs </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom" colspan="6" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom" colspan="6" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Liabilities</font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,<br />2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,<br />2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,<br />2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,<br />2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Derivatives designated as hedging instruments</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts – fair value</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(a) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(e) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(h) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fuel oil contracts – cash flow</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(b) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(f) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(i) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Natural gas contracts – cash flow</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>32</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(g) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(j) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts – cash flow</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(c) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(h) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives designated as hedging instruments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Derivatives not designated as hedging instruments</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(h) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(k) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Embedded derivatives</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(d) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(b) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(i) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(i) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives not designated as hedging instruments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>40</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>46</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">3</font> million recorded in Accounts and notes receivable, net, and $<font class="_mt">7</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other current assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">13</font> million recorded in Other current assets and $<font class="_mt">5</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million recorded in Accounts and notes receivable, net and $<font class="_mt">3</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">13</font> million recorded in Other current assets and $<font class="_mt">3</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">27</font> million recorded in Other accrued liabilities and $<font class="_mt">5</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(h)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(i)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other accrued liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(j)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">26</font> million recorded in Other accrued liabilities and $<font class="_mt">12</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(k)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">23</font> million recorded in Other accrued liabilities and $<font class="_mt">6</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table></div> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="59%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Estimated</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair Value</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Average</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Remaining</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Useful Life</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Asset Class:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(at acquisition<br />date)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Land-use rights</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Customer relationships</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16 years</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table> </div>
<div> <div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Printing<br />Papers</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Distri-<br />bution</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance as of January 1, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">989</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,302</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,766</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,456</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"> impairment losses (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,765</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,664</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,429</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">989</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,027</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Reclassifications and other (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions/reductions</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">140</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(25</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">)(d) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">115</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance as of</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,131</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,423</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,765</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">400</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,719</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"> impairment losses (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,765</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,664</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,429</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,131</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">658</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">101</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">400</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,290</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents accumulated goodwill impairment charges since the adoption of ASC 350, "Intangibles – Goodwill and Other" in 2002. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents the effects of foreign currency translations and reclassifications. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Reflects purchase accounting adjustments related to the CBPR acquisition. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. </i></font></p></td></tr></table></div> </div>
<div>
<div><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 2 RECENT ACCOUNTING DEVELOPMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>REVENUE ARRANGEMENTS WITH MULTIPLE DELIVERABLES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In September 2009, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2009-13, "Multiple-Deliverable Revenue Arrangements," which amends the multiple-element arrangement guidance under ASC 605, "Revenue Recognition." This guidance amends the criteria for separating consideration for products or services in multiple-deliverable arrangements. This guidance establishes a selling price hierarchy for determining the selling price of a deliverable, eliminates the residual method of allocation, and requires that arrangement consideration be allocated at the inception of the arrangement to all deliverables using the relative selling price method. In addition, this guidance significantly expands required disclosures related to a vendor's multiple-deliverable revenue arrangements. This guidance is effective prospectively for revenue arrangements enter
ed into or materially modified in fiscal years beginning on or after June 15, 2010 (calendar year 2011). The application of the requirements of this guidance will not have a material effect on the consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>VARIABLE INTEREST ENTITIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In June 2009, the FASB issued ASU 2009-17, "Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities," which amends the consolidation guidance that applies to variable interest entities under ASC 810, "Consolidations." This guidance changes how a company determines when an entity that is insufficiently capitalized or is not controlled through voting (or similar rights) should be consolidated. This guidance was effective for financial statements issued in fiscal years (and interim periods) beginning after November 15, 2009 (calendar year 2010). The Company adopted this guidance on January 1, 2010 and it did not have an effect on the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SUBSEQUENT EVENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In May 2009, the FASB issued ASC 855, "Subsequent Events," which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. This guidance is effective prospectively for interim and annual periods ending after June 15, 2009. The Company included the requirements of this guidance in the preparation of the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ASSET TRANSFERS, VARIABLE INTEREST ENITITES AND QUALIFYING SPECIAL PURPOSE ENTITIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In December 2008, the FASB issued new guidance under ASC 860, "Transfers and Servicing" which requires public companies to provide additional disclosures about transfers of financial assets and an enterprise's involvement with variable interest entities, including qualifying special purpose entities. The Company included the requirements of this guidance in the preparation of the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In March 2008, the FASB issued new guidance under ASC 815, "Derivatives and Hedging," that requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of, and gains and losses on, derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. This guidance was effective for fiscal years (and interim periods) beginning after November 15, 2008 (calendar year 2009). The Company included the disclosures required by this guidance in the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>BUSINESS COMBINATIONS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In December 2007, the FASB issued new guidance under ASC 805, "Business Combinations," which establishes principles and requirements for how an acquiring entity in a business combination recognizes and measures the assets acquired and liabilities assumed in the transaction; establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed; and requires the acquirer to disclose to investors and other users all of the information needed to evaluate and understand the nature and financial effect of the business combination. This guidance was effective prospectively for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008 (calendar year 2009). The Company included the provisions of this guidance in the preparation o
f the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>EMPLOYERS' ACCOUNTING FOR DEFINED BENEFIT PENSION AND OTHER POSTRETIREMENT PLANS </b></font></p><font style="font-family: ARIAL;" class="_mt" size="1">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In December 2008, the FASB issued new guidance under ASC 715, "Compensation – Retirement Benefits," to require more detailed disclosures about employers' plan assets, including employers' investment strategies, major categories of plan assets, concentrations of risk within plan assets, and valuation techniques used to measure the fair value of plan assets. The disclosures required by this guidance must be provided in financial statements for fiscal years ending after December 15, 2009 (calendar year 2009). The Company included the provisions of this guidance in the preparation of the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><strong>FAIR VALUE MEASUREMENTS </strong></p></div></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In September 2006, the FASB issued guidance under ASC 820, "Fair Value Measurements and Disclosures," which provides a single definition of fair value, together with a framework for measuring it, and requires additional disclosure about the use of fair value to measure assets and liabilities. It also emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and sets out a fair value hierarchy with the highest level being quoted prices in active markets. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In February 2008, the FASB issued new guidance under ASC 820 which delayed the effective date for fair value measurement and disclosure for all nonrecurring fair value measurements of nonfinancial assets and liabilities until fiscal years beginning after November 15, 2008 (calendar year 2009). The Company partially adopted the provisions of this guidance with respect to its financial assets and liabilities that are measured at fair value effective January 1, 2008 (see Note 13). The Company included the remaining provisions of this guidance in the preparation of the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In October 2008, the FASB issued new guidance under ASC 820 which clarifies the application of fair value measurement and disclosure in cases where the market for the asset is not active. This guidance was effective upon issuance. The Company considered the guidance in the preparation of the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In April 2009, the FASB issued additional guidance under ASC 820 which provides guidance on estimating the fair value of an asset or liability (financial or nonfinancial) when the volume and level of activity for the asset or liability have significantly decreased, and on identifying transactions that are not orderly. The application of the requirements of this guidance did not have a material effect on the accompanying consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In August 2009, the FASB issued ASU 2009-05, "Measuring Liabilities at Fair Value," which further amends ASC 820 by providing clarification for circumstances in which a quoted price in an active market for the identical liability is not available. The Company included the disclosures required by this guidance in the accompanying consolidated financial statements. </font></p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In January 2010, the FASB issued ASU 2010-06, "Improving Disclosures about Fair Value Measurements," which further amends ASC 820 to add new disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating to Level 3 measurements. This new guidance also clarifies the level of disaggregation, inputs and valuation techniques used to measure fair value and amends guidance under ASC 715 related to employers' disclosures about postretirement benefit plan assets to require that disclosures be provided by classes of assets instead of by major categories of assets. This guidance was effective for the first reporting period (including interim periods) beginning after December 15, 2009, except for the requirement to provide Level 3 activity of purchases, sales, issuances, and settlements on a gross bas
is, which will be effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The Company included the disclosures required by this guidance in the accompanying consolidated financial statements. The Company does not anticipate that the adoption of the remaining requirements of this guidance will have a material effect on its consolidated financial statements. </font></p> </div>
<div>
<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>INFORMATION BY INDUSTRY SEGMENT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Net Sales </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,840</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,890</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,690</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,940</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,680</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,810</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,060</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,195</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,735</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,525</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,970</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>220</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">200</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and Intersegment Sales</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(956</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(834</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,036</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net sales</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Operating Profit </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>826</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">761</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">390</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>481</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,091</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">474</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>207</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">433</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>78</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">103</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>94</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">409</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Operating Profit</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,686</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,360</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,393</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(608</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(669</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(492</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Noncontrolling interests / equity earnings adjustment (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate items, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(226</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(103</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and other charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(333</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(179</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gain on sale of forestlands</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Impairments of goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,777</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net gains (losses) on sales and impairments of businesses</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Restructuring and Other Charges </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">684</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>52</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">333</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">179</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and Other Charges</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Assets </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,353</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10,212</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7,449</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,791</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,396</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,025</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,333</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,761</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,692</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,881</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>627</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">758</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">903</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Specialty Businesses and Other (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and other (c)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,167</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,187</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,180</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,382</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25,548</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">26,913</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font> </p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Capital Spending </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>301</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">183</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">282</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>283</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">383</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>159</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">126</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">287</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Subtotal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>751</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">963</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>24</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total from Continuing Operations</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>775</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,002</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Depreciation and Amortization (d) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>597</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">678</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">452</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>479</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">447</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">517</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>228</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">210</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>134</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">117</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">136</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Depreciation and Amortization</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,456</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,472</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,347</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>External Sales By Major Product </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,812</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,813</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,465</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,220</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,114</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,407</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,241</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,911</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,982</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,683</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,486</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,928</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>223</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net Sales</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>INFORMATION BY GEOGRAPHIC AREA </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Net Sales (e) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">United States (f)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19,501</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18,355</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19,501</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Europe</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,839</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,716</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pacific Rim</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,377</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,002</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">827</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Americas, other than U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,462</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,293</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,324</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net Sales</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Long-Lived Assets (g) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">United States</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,866</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,626</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11,336</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Europe</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,047</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,215</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pacific Rim</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>468</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">369</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">386</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Americas, other than U.S.</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,162</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,117</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,599</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>206</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">210</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">260</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Long-Lived Assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12,749</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13,445</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14,796</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes Arizona Chemical and certain other smaller businesses identified in the Company's divestiture program. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>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 noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes corporate assets and assets of businesses held for sale. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes cost of timber harvested; excludes accelerated depreciation related to closure of mills. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Net sales are attributed to countries based on the location of the seller. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Export sales to unaffiliated customers were $1.8 billion in 2010, $1.4 billion in 2009 and $1.6 billion in 2008. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net.</i></font></p></td></tr></table></div></div> </div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><a name="rom40096_66"> </a>SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>SCHEDULE II </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INTERNATIONAL PAPER COMPANY AND CONSOLIDATED SUBSIDIARIES </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(In millions) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="36%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="13%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2010</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> <br /> </font><br />
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at<br />End of</font><br />
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> <br /> </font><br />
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>28</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(35)(a)</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>129</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>46</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(116)(b)</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="20"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2009</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">End of</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">54</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(39)(a)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">251</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(263)(b)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="20"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2008</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">End of</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">95</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(16)(a)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(31)(b)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<div>
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments. </i></font></p></div></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<div>
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes payments and deductions for reversals of previously established reserves that were no longer required. </i></font></p></div></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<div>
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Allowance for doubtful accounts acquired in the Weyerhaeuser Containerboard, Packaging and Recycling acquisition. </i></font></p></div></td></tr></table> </div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 11 VARIABLE INTEREST ENTITIES AND PREFERRED SECURITIES OF SUBSIDIARIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>VARIABLE INTEREST ENTITIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with the 2006 sale of approximately <font class="_mt">5.6</font> million acres of forestlands, International Paper received installment notes (the Timber Notes) totaling approximately $<font class="_mt">4.8</font> billion. The Timber Notes, which do not require principal payments prior to their August 2016 maturity, are supported by irrevocable letters of credit obtained by the buyers of the forestlands. During the three months ended December 31, 2006, International Paper contributed the Timber Notes to newly formed entities (the Borrower Entities) in exchange for Class A and Class B interests in these entities. Subsequently, International Paper contributed its $<font class="_mt">200</font> million Class A interests in the Borrower Entities, along with approximately $<font class="_m
t">400</font> million of International Paper promissory notes, to other newly formed entities (the Investor Entities, and together with the Borrower Entities, the Entities) in exchange for Class A and Class B interests in these entities, and simultaneously sold its Class A interest in the Investor Entities to a third party investor. As a result, at December 31, 2006, International Paper held Class B interests in the Borrower Entities and Class B interests in the Investor entities valued at approximately $<font class="_mt">5.0</font> billion. International Paper has no obligation to make any further capital contributions to these Entities and did not provide any financial support that was not previously contractually required for the years ended December 31, 2010, 2009 or 2008. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Also during 2006, the Entities acquired approximately $<font class="_mt">4.8</font> billion of International Paper debt obligations for cash, resulting in a total of approximately $<font class="_mt">5.2</font> billion of International Paper debt obligations held by the Entities at December 31, 2006. The various agreements entered into in connection with these transactions provide that International Paper has, and intends to affect, a legal right to offset its obligation under these debt instruments with its investments in the Entities. Accordingly, for financial reporting purposes, International Paper has offset approximately $<font class="_mt">5.1</font> billion of Class B interests in the entities against $<font class="_mt">5.1</font> billion of International Paper debt obligations held by these Entities at December&n
bsp;31, 2010 and 2009. Remaining borrowings of $<font class="_mt">129</font> million and $<font class="_mt">144</font> million for 2010 and 2009, respectively, are included in floating rate notes due 2011 – 2016 in the summary of long-term debt in Note 12. Additional debt related to the above transaction of $<font class="_mt">38</font> million and $<font class="_mt">46</font> million is included in short-term notes in the summary of long-term debt in Note 12 for 2010 and 2009, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper also holds variable interests in two financing entities that were used to monetize long-term notes received from the sale of forestlands in 2001 and 2002. International Paper transferred notes (the Monetized Notes, with an original maturity of 10 years from inception) and cash having a value of approximately $<font class="_mt">1.0</font> billion to these entities in exchange for preferred interests, and accounted for the transfers as a sale of the notes with no associated gain or loss. In the same period, the entities acquired approximately $<font class="_mt">1.0</font> billion of International Paper debt obligations for cash. International Paper has no obligation to make any further capital contributions to these entities and did not provide any financial support that was not previously contractually required during the years ended De
cember 31, 2010, 2009 or 2008. At December 31, 2010, International Paper's $<font class="_mt">542</font> million preferred interest in one of the entities has been offset against related debt obligations since International Paper has, and intends to affect, a legal right of offset to net-settle these two amounts. Other outstanding debt related to the above transactions of $<font class="_mt">464</font> million and $<font class="_mt">465</font> million is included in floating rate notes due 2011 – 2016, and $<font class="_mt">4</font> million and $<font class="_mt">7</font> million is included in short-term notes in the summary of long-term debt in Note 12 for 2010 and 2009, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Based on an analysis of these entities under guidance that considers the potential magnitude of the variability in the structures and which party has a controlling financial interest, International Paper determined that it is not the primary beneficiary of the above entities, and therefore, should not consolidate its investments in these entities. It was also determined that the source of variability in the structure is the value of the Timber Notes and Monetized Notes, the assets most significantly impacting each structure's economic performance. The credit quality of the Timber Notes and Monetized Notes are supported by irrevocable letters of credit obtained by third party buyers which are <font class="_mt">100</font>% cash collateralized. International Paper analyzed which party has control over the economic performance of each entity, and concluded International P
aper does not have control over significant decisions surrounding the Timber Notes, Monetized Notes and letters of credit and therefore is not the primary beneficiary. The Company's maximum exposure to loss equals the value of the Timber Notes and Monetized Notes; however, an analysis performed by the Company concluded the likelihood of this exposure is remote. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PREFERRED SECURITIES OF SUBSIDIARIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In March 2003, Southeast Timber, Inc. (Southeast Timber), a consolidated subsidiary of International Paper, issued $<font class="_mt">150</font> million of preferred securities to a private investor with future dividend payments based on LIBOR. Southeast Timber, which through a subsidiary initially held approximately <font class="_mt">1.5</font> million acres of forestlands in the southern United States, was International Paper's primary vehicle for sales of southern forestlands. As of December 31, 2010, substantially all of these forestlands have been sold. These preferred securities may be put back to International Paper by the private investor upon the occurrence of certain events, and have a liquidation preference that approximates their face amount. The $<font class="_mt">150</font> million preferred third-party
interest is included in Noncontrolling interests in the accompanying consolidated balance sheet. Distributions paid to the third-party investor were $<font class="_mt">5</font> million, $<font class="_mt">6</font> million and $<font class="_mt">10</font> million in 2010, 2009 and 2008, respectively. The expense related to these preferred securities is shown in Net earnings (loss) attributable to noncontrolling interests in the accompanying consolidated statement of operations. </font></p> </div>
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.40</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.90</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.90</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table> </div>
<div>
<div><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 18 FINANCIAL INFORMATION BY INDUSTRY SEGMENT AND GEOGRAPHIC AREA </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper's industry segments, Industrial Packaging, Printing Papers, Consumer Packaging, Distribution and Forest Products, are consistent with the internal structure used to manage these businesses. Beginning on January 1, 2011, the Forest Products Business will no longer be reported by the Company as a separate industry segment due to the immateriality of the results of the remaining business on the Company's consolidated financial statements. All segments are differentiated on a common product, common customer basis consistent with the business segmentation generally used in the Forest Products industry. </font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">For management purposes, International Paper reports the operating performance of each business based on earnings before interest and income taxes (EBIT) excluding special and extraordinary items, gains or losses on sales of businesses and cumulative effects of accounting changes. Intersegment sales and transfers are recorded at current market prices. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">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. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company also holds a <font class="_mt">50</font>% interest in Ilim that is a separate reportable industry segment. The Company recorded equity earnings, net of taxes, of $<font class="_mt">55</font> million in 2010, equity losses, net of taxes, of $<font class="_mt">50</font> million in 2009 and equity earnings, net of taxes, of $<font class="_mt">54</font> million in 2008 for Ilim. </font></p></div></div></div>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>INFORMATION BY INDUSTRY SEGMENT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Net Sales </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,840</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,890</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,690</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,940</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,680</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,810</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,060</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,195</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,735</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,525</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,970</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>220</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">200</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and Intersegment Sales</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(956</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(834</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,036</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net sales</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Operating Profit </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>826</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">761</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">390</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>481</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,091</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">474</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>207</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">433</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>78</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">103</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>94</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">409</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Operating Profit</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,686</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,360</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,393</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(608</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(669</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(492</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Noncontrolling interests / equity earnings adjustment (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate items, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(226</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(103</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and other charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(333</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(179</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gain on sale of forestlands</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Impairments of goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,777</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net gains (losses) on sales and impairments of businesses</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Restructuring and Other Charges </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">684</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>52</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">333</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">179</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and Other Charges</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Assets </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,353</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10,212</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7,449</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,791</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,396</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,025</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,333</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,761</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,692</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,881</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>627</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">758</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">903</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Specialty Businesses and Other (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and other (c)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,153</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,187</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,180</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,368</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25,548</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">26,913</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font> </p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Capital Spending </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>301</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">183</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">282</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>283</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">383</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>159</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">126</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">287</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Subtotal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>751</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">963</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>24</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total from Continuing Operations</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>775</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,002</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Depreciation and Amortization (d) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>597</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">678</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">452</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>479</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">447</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">517</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>228</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">210</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>134</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">117</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">136</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Depreciation and Amortization</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,456</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,472</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,347</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>External Sales By Major Product </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,812</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,813</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,465</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,220</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,114</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,407</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,241</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,911</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,982</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,683</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,486</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,928</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>223</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net Sales</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>INFORMATION BY GEOGRAPHIC AREA </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Net Sales (e) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">United States (f)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19,501</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18,355</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19,501</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Europe</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,839</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,716</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pacific Rim</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,377</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,002</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">827</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Americas, other than U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,462</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,293</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,324</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net Sales</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Long-Lived Assets (g) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">United States</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,866</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,626</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11,336</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Europe</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,047</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,215</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pacific Rim</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>468</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">369</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">386</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Americas, other than U.S.</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,162</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,117</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,599</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>206</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">210</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">260</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Long-Lived Assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12,749</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13,445</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14,796</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes Arizona Chemical and certain other smaller businesses identified in the Company's divestiture program. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>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 noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes corporate assets and assets of businesses held for sale. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes cost of timber harvested; excludes accelerated depreciation related to closure of mills. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Net sales are attributed to countries based on the location of the seller. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Export sales to unaffiliated customers were $<font class="_mt">1.8</font> billion in 2010, $<font class="_mt">1.4</font> billion in 2009 and $<font class="_mt">1.6</font> billion in 2008. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net. </i></font></p></td></tr></table> </div>
1393000000
17000000
103000000
409000000
390000000
474000000
2360000000
433000000
50000000
25000000
761000000
1091000000
1686000000
207000000
78000000
94000000
826000000
481000000
1947000000
2031000000
1930000000
22000000
38000000
53000000
22000000
22000000
22000000
2000000
32000000
6000000
52000000
2000000
5000000
17000000
166000000
148000000
34000000
2000000
19000000
5000000
39000000
2000000
19000000
5000000
23000000
7000000
2000000
21000000
19000000
9000000
23000000
1000000
30000000
46000000
1000000
3000000
30000000
5000000
1000000
2000000
2000000
2000000
3000
307890
20000
714294
0
288694
33.70
34.50
35.49
23.41
0
21.83
18000
3984146
5000
4102197
177000
3842626
28.34
36.26
11.80
19.10
25.63
28.93
122625
6217012
102000
6254256
83000
6066050
44100
3310
167500
6812594
26150
3070
37.18
35.67
35.11
32.69
33.93
24.28
26.95
23.31
35625
3639012
4000
3576109
92500
2807388
38.91
41.54
28.74
33.21
30.69
33.25
28100000
17400000
18800000
-14800
0
0
-2716655
-2317595
-3928736
40.83
42.74
46.29
-189158
-558470
-43068
43.44
44.40
34.36
0
0
0
0
0
0
1115000
0
0
0
28013735
25093122
22217057
18245253
39.81
39.68
39.24
37.73
<div> <div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SHIPPING AND HANDLING COSTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Shipping and handling costs, such as freight to our customers' destinations, are included in distribution expenses in the consolidated statement of operations. When shipping and handling costs are included in the sales price charged for our products, they are recognized in net sales.</font></p></div> </div>
1286000000
1175000000
1318000000
9000000
56000000
13000000
6023000000
6834000000
8900000000
-471000000
6755000000
494000000
228000000
8672000000
4375000000
2481000000
4401000000
-3322000000
5845000000
434000000
232000000
4169000000
1430000000
218000000
6255000000
-2077000000
5803000000
437000000
232000000
6023000000
1949000000
89000000
7084000000
-1822000000
5829000000
439000000
250000000
6834000000
2416000000
28000000
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 14 CAPITAL STOCK </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The authorized capital stock at both December 31, 2010 and 2009, consisted of <font class="_mt">990,850,000</font> shares of common stock, $<font class="_mt">1</font> par value; <font class="_mt">400,000</font> shares of cumulative $<font class="_mt">4</font> preferred stock, without par value (stated value $<font class="_mt">100</font> per share); and <font class="_mt">8,750,000</font> shares of serial preferred stock, $<font class="_mt">1</font> par value. The serial preferred stock is issuable in one or more series by the Board of Directors without further shareholder action. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In December 2008, the Company retired <font class="_mt">60,000,000</font> shares of its common stock held in treasury. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following is a rollforward of common stock activity for the three years ended December 31, 2010, 2009 and 2008: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="79%"> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom" colspan="6" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Common Stock</font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In thousands</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Issued</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Treasury</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at January 1, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">493,556</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">68,436</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Issuance of stock for various plans, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,840</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Repurchase of stock</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,462</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Retirement of treasury stock</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(60,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(60,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">433,556</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,058</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Issuance of stock for various plans, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,466</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,484</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Repurchase of stock</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,288</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">437,022</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,862</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Issuance of stock for various plans, net</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,849</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,796</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Repurchase of stock</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,168</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at December 31, 2010</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>438,871</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,234</b></font></td></tr></table> </div>
0
-3840000
3466000
-3484000
1849000
-3796000
109000000
0
-34000000
0
0
109000000
0
-143000000
100000000
0
-42000000
3000000
0
100000000
0
-139000000
127000000
0
38000000
2000000
0
127000000
0
-87000000
0
0
0
<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Through</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2020</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2021</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Through</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2030</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Indefinite</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal and non-U.S. NOLs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">344</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">371</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State taxing jurisdiction NOLs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">106</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">135</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">241</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal, non- U.S. and state tax credit carryforwards</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State capital loss carryforwards</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>202</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>168</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>743</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,113</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table> </div>
182000000
188000000
192000000
68436000
6058000
3900000
3862000
1200000
1234000
1462000
1288000
1168000
60000000
60000000
60000000
89000000
28000000
47000000
0
0
0
0
47000000
0
-47000000
10000000
0
0
0
0
10000000
0
-10000000
26000000
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0
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26000000
0
-26000000
0
0
876000000
60000000
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0
1231000000
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794000000
435000000
308000000
199000000
-67000000
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-97000000
-352000000
-174000000
0
95000000
100000000
-14000000
-28000000
-12000000
-66000000
-82000000
-50000000
109000000
-3000000
-2000000
-70000000
0
156000000
20000000
0
95000000
7000000
121000000
96000000
136000000
84000000
129000000
14000000
13000000
0
0
0
0
0
-16000000
-31000000
-39000000
-263000000
-35000000
-116000000
421000000
428000000
434200000
421000000
425300000
429800000
Includes cost of timber harvested; excludes accelerated depreciation related to closure of mills.
Represents accumulated goodwill impairment charges since the adoption of ASC 350, "Intangibles – Goodwill and Other" in 2002.
Represents the effects of foreign currency translations and reclassifications.
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 noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings.
Securities are not included in the table in periods when antidilutive.
Options to purchase 18.2 million, 22.2 million and 25.1 million shares for the years ended December 31, 2010, 2009 and 2008, respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company's common stock for each respective reporting date.
Includes $22 million of severance charges, $7 million of accelerated depreciation charges and $1 million of other charges related to the reorganization of the Company's Shorewood operations.
Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges related to the closure of the Ace Packaging business.
Includes $71 million of accelerated depreciation charges, $32 million of severance charges, $11 million of environmental expenses, and $9 million of other charges related to the shutdown of the Bastrop, Louisiana mill, and $23 million of accelerated depreciation charges, $6 million of severance charges, and $1 million of other charges related to the shutdown of a paper machine at the Franklin, Virginia mill.
Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $3 million of other charges related to the reorganization of the Company's Shorewood operations.
Includes $17 million of severance charges and $6 million of other charges related to the shutdown of the Inverurie mill in Scotland.
Includes $5 million of severance charges and $3 million of other charges related to the shutdown of the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center and $3 million of charges related to the shutdown of the Bastrop, Louisiana mill.
Includes $19 million of severance charges and $12 million of other charges related to the shutdown of the Etienne mill in France.
Includes $59 million of accelerated depreciation charges and other noncash charges, $7 million of severance charges and $1 million of other charges related to the shutdown of the Franklin, Virginia mill.
Includes $82 million of accelerated depreciation and other noncash charges, $9 million of severance charges, $10 million of environmental charges and $1 million of other charges related to the shutdown of the Pineville, Louisiana mill; $438 million of accelerated depreciation and other noncash charges, $21 million of severance charges and benefit costs, $9 million of environmental charges and $1 million of other charges related to the shutdown of the Albany, Oregon mill; and $81 million of accelerated depreciation and other noncash charges and $1 million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill.
Includes $199 million of accelerated depreciation and other noncash charges, $23 million of severance charges and $1 million of other charges related to the shutdown of the Franklin, Virginia mill.
Includes $3 million of accelerated depreciation, $1 million of severance charges and $4 million of other charges related to the reorganization of the Company's Shorewood operations.
Includes $2 million of other charges related to the shutdown of the Pineville, Louisiana mill and $1 million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill.
Includes $3 million of severance charges related to the shutdown of the Etienne mill in France.
Includes $236 million of accelerated depreciation, $36 million of environmental closure costs, $30 million of severance charges and $13 million of other charges related to the shutdown of the Franklin, Virginia mill
Includes a gain of $2 million related to the shutdown of the Albany, Oregon mill; a $3 million charge to write down the value of land, $2 million of accelerated depreciation and $2 million of severance charges related to the closure of the Bellevue, Washington container facility; $1 million of accelerated depreciation, $2 million of severance charges and $2 million of other charges related to the closure of the Spartanburg, South Carolina container facility; and $2 million of severance charges and $1 million of other costs related to the closure of certain of the Company's Asian box plants.
Includes corporate assets and assets of businesses held for sale.
Includes Arizona Chemical and certain other smaller businesses identified in the Company's divestiture program.
Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net.
Attributable to International Paper Company common shareholders.
Excludes $1.1 million in 2008 in curtailment losses, and $83.2 million and $13.9 million in 2009 and 2008, respectively, of termination benefits, in connection with cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations.
Excludes $0.8 million of curtailment gains in 2008 and $2.8 million and $0.5 million of termination benefits in 2009 and 2008, respectively, related to cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations.
Transferred out of Level 3 to Level 2 because market data for these securities was observable.
Includes $13 million recorded in Other current assets and $3 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet.
Included in Other current assets in the accompanying consolidated balance sheet.
Includes $2 million recorded in Accounts and notes receivable, net and $3 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet.
Includes $13 million recorded in Other current assets and $5 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet.
Includes $3 million recorded in Accounts and notes receivable, net, and $7 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet.
Included in Deferred charges and other assets in the accompanying consolidated balance sheet.
Included in Other liabilities in the accompanying consolidated balance sheet.
Included in Other accrued liabilities in the accompanying consolidated balance sheet.
Includes $26 million recorded in Other accrued liabilities and $12 million recorded in Other liabilities in the accompanying consolidated balance sheet.
Includes $27 million recorded in Other accrued liabilities and $5 million recorded in Other liabilities in the accompanying consolidated balance sheet.
Includes $23 million recorded in Other accrued liabilities and $6 million recorded in Other liabilities in the accompanying consolidated balance sheet.
Includes a pre-tax gain of $540 million ($330 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $36 million ($22 million after taxes) for integration costs associated with the Containerboard, Packaging and Recycling business (CBPR) acquired in August 2008, a pre-tax charge of $52 million ($32 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $23 million ($28 million after taxes) for closure costs associated with the Inverurie, Scotland mill, a pre-tax charge of $6 million ($4 million after taxes) for shutdown costs associated with the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center, and a pre-tax charge of $2 million ($1 million after taxes) for shutdown costs associated with the reorganization of the Company's Shorewood operations.
Includes a pre-tax gain of $482 million ($294 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $34 million ($21 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $25 million ($16 million after taxes) for early debt extinguishment costs, a charge of $15 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $48 million, before and after taxes, to write down the assets of the Etienne mill to estimated fair value and a pre-tax charge of $5 million ($3 million after taxes) for other items.
Includes a $156 million tax expense for the write-off of deferred tax assets in France and a $26 million tax benefit related to the settlement of the 2004 and 2005 U.S. federal income tax audit and related income tax effects.
Includes a pre-tax gain of $525 million ($320 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $39 million ($24 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $102 million ($62 million after taxes) for early debt extinguishment costs, a charge of $7 million, before and after taxes, for costs associated with the planned closure of the Etienne mill in France, and a pre-tax charge of $3 million ($2 million after taxes) for other items.
Includes a pre-tax gain of $516 million ($469 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $15 million ($10 million after taxes) for integration costs associated with the CBPR acquisition, pre-tax charges of $469 million ($286 million after taxes), $290 million ($177 million after taxes) and $102 million ($62 million after taxes) for shutdown costs for the Albany, Oregon, Franklin, Virginia, and Pineville, Louisiana mills, respectively, a pre-tax charge of $82 million ($50 million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $23 million ($15 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $58 million ($35 million after taxes) for early debt extinguishment costs, a charge of $9 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in Franc
e, a pre-tax charge of $8 million to write down the assets at the Etienne mill to estimated fair value, pre-tax charges of $5 million ($3 million after taxes) and $2 million ($1 million after taxes) for costs associated with the reorganization of the Company's xpedx and Shorewood operations, respectively, and a pre-tax charge of $3 million ($0 million after taxes) for other items.
Includes a $15 million write-off of a deferred tax asset for a recycling tax credit in the state of Louisiana.
Includes a pre-tax charge of $204 million ($124 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $190 million of accelerated depreciation), a pre-tax charge of $4 million ($2 million after taxes) for early debt extinguishment costs, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations and charges of $4 million, before and after taxes, for other items.
Includes after-tax charges of $14 million and $32 million for tax adjustments related to incentive compensation and postretirement prescription drug coverage, respectively.
Includes a pre-tax charge of $111 million ($68 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $46 million of accelerated depreciation and $36 million of environmental closure costs), a pre-tax charge of $18 million ($11 million after taxes) for early debt extinguishment costs, a pre-tax charge of $11 million ($7 million after taxes) for an Ohio Commercial Activity tax adjustment and charges of $4 million ($2 million after taxes) for other items.
Includes a pre-tax charge of $18 million ($11 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $12 million ($7 million after taxes) for closure costs related to the Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $13 million ($8 million after taxes) for early debt extinguishment costs, a pre-tax charge of $5 million ($3 million after taxes) for severance and benefit costs associated with the Company's S&A reduction initiative, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the shutdown of three box plants in Asia, a pre-tax gain of $25 million ($15 million after taxes) related to the partial redemption of the Company's interest in Arizona Chemical, a charge of $2 million, before and after taxes, for asset im
pairment costs associated with the Inverurie, Scotland mill which was closed in 2009 and a net pre-tax gain of $2 million ($1 million after taxes) for other items.
Includes a tax benefit of $40 million related to cellulosic bio-fuel tax credits.
Reflects purchase accounting adjustments related to the CBPR acquisition.
Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil.
Represents the preliminary purchase price allocation related to the acquisition of SCA Packaging Asia.
Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested.
Interest expense and interest income exclude approximately $44 million, $117 million and $233 million in 2010, 2009 and 2008, respectively, related to investments in and borrowings from variable interest entities for which the Company has a legal right of offset (see Note 11).
The fair market value was approximately $9.7 billion at December 31, 2010 and December 31, 2009.
Includes an unamortized gain of $8 million at December 31, 2010 and a loss of $18 million at December 31, 2009, related to interest rate swaps treated as fair value hedges. Also includes $70 million at December 31, 2010 and $80 million at December 31, 2009, related to the unamortized gain on interest rate swap unwinds (see Note 13).
The weighted average interest rate on these bonds was 5.6% in 2010 and 2009.
The weighted average interest rate on these notes was 1.5% in 2010 and 2.0% in 2009.
The weighted average interest rate was 3.2% in 2010 and 4.1% in 2009. Includes $146 million at December 31, 2010 and $161 million at December 31, 2009 related to non-U.S. denominated borrowings with a weighted average interest rate of 4.3% in 2010 and 4.8% in 2009.
Includes $2.3 billion relating to fiber supply agreements entered into at the time of the Company's 2006 Transformation Plan forestland sales.
Net sales are attributed to countries based on the location of the seller.
Export sales to unaffiliated customers were $1.8 billion in 2010, $1.4 billion in 2009 and $1.6 billion in 2008.
Includes 165,127 shares related to retirements or terminations that are held for payout until the end of the performance period.
The table does not include Continuity Award tandem stock options described below. No fair market value is assigned to these options under ASC 718. The tandem restricted shares accompanying these options are expensed over their vesting period.
The table includes options outstanding under an acquired company plan under which options may no longer be granted.
Allowance for doubtful accounts acquired in the Weyerhaeuser Containerboard, Packaging and Recycling acquisition.
Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments.
Includes payments and deductions for reversals of previously established reserves that were no longer required.
EX-101.SCH
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Document and Entity Information Abstract
Document and Entity Information
Statement [Table]
Statement [Line Items]
Document Type
Amendment Flag
Document Period End Date
Document Fiscal Year Focus
Document Fiscal Period Focus
Trading Symbol
Entity Registrant Name
Entity Central Index Key
Current Fiscal Year End Date
Entity Well-known Seasoned Issuer
Entity Current Reporting Status
Entity Voluntary Filers
Entity Filer Category
Entity Common Stock, Shares Outstanding
Entity Public Float
Consolidated Statement of Operations
Net sales
Net Sales
Sales Revenue, Net, Total
NET SALES
COSTS AND EXPENSES
Cost of products sold (Notes 1 and 4)
Cost of Goods Sold, Total
Selling and administrative expenses
Selling, General and Administrative Expense, Total
The current period expense charged against earnings on long-lived, physical assets used in the normal conduct of business and not intended for resale to allocate or recognize the cost of assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such assets. Examples include, buildings, production equipment and customer lists. Also includes the expense recognized in the current period that recognizes the reduction in the quantity of timber that is held as assets on the statement of financial position. This element applies only to assets used in the production of goods sold.
Depreciation Amortization And Cost Of Timber Harvested
Depreciation Amortization And Cost Of Timber Harvested
Depreciation, amortization, and cost of timber harvested
Depreciation, amortization and cost of timber harvested
Distribution expenses
Shipping, Handling and Transportation Costs, Total
Taxes other than payroll and income taxes
Amount charged against earnings in the period for incurred and estimated costs, excluding asset retirement obligations, associated with exit from or disposal of business activities or restructurings pursuant to a program that is planned and controlled by management, and materially changes either the scope of a business undertaken by an entity, or the manner in which that business is conducted. Also includes expenses charged against earnings in the period of an event that is infrequent in occurrence or unusual in nature.
Restructuring and other charges
Restructuring and other charges
Restructuring and other charges
Restructuring and other charges
Gain on sale of mineral rights
Gain on sale of mineral rights
Gain on sale of forestlands
Gain on sale of forestlands
Goodwill impairments charge
Impairments of goodwill
Impairments of goodwill
Gain before taxes related to the company's 2006 Transformation Plan forestlands sales
Net (gains) losses on sales and impairments of businesses
Net (gains) losses on sales and impairments of businesses
The aggregate interest expense incurred on trading liabilities, commercial paper, long-term debt, capital leases, deposits and all other borrowings, net of interest earned.
Interest expense, net
Interest expense, net
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY EARNINGS
Earnings (Loss) from Continuing Operations Before Income Taxes and Equity Earnings
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY EARNINGS
Earnings (loss) from continuing operations before income taxes and equity earnings
Income tax provision (benefit)
Income tax provision (benefit)
Income tax provision (benefit)
Equity earnings (loss), net of taxes
Equity (earnings) losses, net
Equity earnings (losses), net of taxes
Income (Loss) from Equity Method Investments, Total
International Paper's share of affiliates' earnings
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest
Earnings (loss) from continuing operations
EARNINGS (LOSS) FROM CONTINUING OPERATIONS
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent, Total
Discontinued operations, net of taxes
Net earnings (loss)
NET EARNINGS (LOSS)
Net earnings (loss)
Less: Net earnings (loss) attributable to noncontrolling interests
Net earnings attributable to noncontrolling interests
Net Income (Loss) Attributable to Noncontrolling Interest, Total
NET EARNINGS (LOSS) ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY
NET EARNINGS (LOSS) ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY
Net earnings (loss) attributable to International Paper Company
BASIC EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Basic earnings (loss) per common share from continuing operations
Earnings (loss) from continuing operations
Income (Loss) from Continuing Operations, Per Outstanding Share, Total
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share
Income (Loss) from Discontinued Operations, Net of Tax, Per Outstanding Share, Total
Discontinued operations, net of taxes
Earnings Per Share, Basic
Net earnings (loss)
Net earnings (loss)
DILUTED EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Diluted earnings (loss) per common share from continuing operations
Earnings (loss) from continuing operations
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share, Total
Discontinued operations, net of taxes
Earnings Per Share, Diluted
Net earnings (loss)
Net earnings (loss)
AMOUNTS ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Income (Loss) from Continuing Operations Attributable to Parent
Income (Loss) from Continuing Operations Attributable to Parent, Total
Earnings (loss) from continuing operations
Consolidated Balance Sheet
ASSETS
Current Assets
Cash, Cash Equivalents, and Short-term Investments
Cash, Cash Equivalents, and Short-term Investments, Total
Cash and temporary investments
Accounts and notes receivable, less allowances of $129 in 2010 and $136 in 2009
Accounts and notes receivable, net
Accounts, Notes, Loans and Financing Receivable, Net, Current, Total
Inventories
Inventories
Deferred income tax assets
Deferred Tax Assets, Net, Current, Ending Balance
Deferred Tax Assets, Net, Current, Beginning Balance
Deferred Tax Assets, Net, Current, Total
Other Assets, Current
Other current assets
Total Current Assets
Total Current Assets
Plants, properties and equipment, net
Property, Plant and Equipment, Net, Ending Balance
Property, Plant and Equipment, Net, Beginning Balance
Plants, properties and equipment, net
Plants, Properties and Equipment, net
Long lived, depletable assets that represent forest crops and land devoted primarily to the growth and harvest of forest crops for commercial purposes and the value of standing timber on this land.
Forestlands
Investments
Long-term Investments, Total
Goodwill
Ending Balance
Beginning Balance
Total
Other Assets, Noncurrent
Other Assets, Noncurrent, Total
Deferred Charges and Other Assets
Total Assets
Total Assets
Assets
LIABILITIES AND EQUITY
Current Liabilities
Notes payable and current maturities of long-term debt
Short-term debt
Debt, Current, Total
Accounts payable
Accounts Payable, Current, Total
Accrued payroll and benefits
Employee-related Liabilities, Current, Total
Other Accrued Liabilities, Current
Other accrued liabilities
Total Current Liabilities
Total Current Liabilities
Long-term Debt, Excluding Current Maturities
Long-term debt
Long-term debt
Long-Term Debt
Deferred Income Taxes
Pension Benefit Obligation
Non-current liability
Postretirement and Postemployment Benefit Obligation
Non-current liability
Other Liabilities, Noncurrent
Other Liabilities, Noncurrent, Total
Other Liabilities
Commitments and Contingent Liabilities (Note 10)
Equity
Common stock $1 par value, 2010 - 438.9 shares and 2009 - 437.0 shares
Common Stock, Value, Issued, Ending Balance
Common Stock, Value, Issued, Beginning Balance
Common Stock, Value, Issued, Total
Additional Paid in Capital, Common Stock
Additional Paid in Capital, Common Stock, Ending Balance
Additional Paid in Capital, Common Stock, Beginning Balance
Paid-in capital
Retained Earnings (Accumulated Deficit)
Retained Earnings (Accumulated Deficit), Ending Balance
Retained Earnings (Accumulated Deficit), Beginning Balance
Retained Earnings (Accumulated Deficit), Total
Retained earnings
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total
Stockholders Equity Subtotal Before Treasury Stock
Stockholders Equity Subtotal Before Treasury Stock
Stockholders Equity Subtotal Before Treasury Stock, Total
Less: Common stock held in treasury, at cost, 2010 - 1.2 shares and 2009 - 3.9 shares
Treasury Stock, Value, Ending Balance
Treasury Stock, Value, Beginning Balance
Total Shareholders' Equity
Stockholders' Equity Attributable to Parent, Ending Balance
Stockholders' Equity Attributable to Parent, Beginning Balance
Total Shareholders' Equity
Noncontrolling interests
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance
Stockholders' Equity Attributable to Noncontrolling Interest, Beginning Balance
Preferred third-party interest, included in noncontrolling interest
Stockholders' Equity Attributable to Noncontrolling Interest, Total
Total Equity
Ending balance
Beginning Balance
Total Equity
Total Liabilities and Equity
Total Liabilities and Equity
Accounts and notes receivable, allowances
Allowance for Doubtful Accounts Receivable, Current, Ending Balance
Allowance for Doubtful Accounts Receivable, Current, Beginning Balance
Common stock, par value
Common stock, shares
Common Stock, Shares, Outstanding, Ending Balance
Common Stock, Shares, Outstanding, Beginning Balance
Common stock held in treasury, shares
Treasury Stock, Shares, Ending Balance
Treasury Stock, Shares, Beginning Balance
Treasury Stock, Shares, Ending Balance
Treasury Stock, Shares, Beginning Balance
Consolidated Statement of Cash Flows
OPERATING ACTIVITIES
Deferred income tax provision (benefit), net
Deferred income tax provision (benefit), net
The amount of cash paid during the reporting period for charges associated with the consolidation and relocation of operations, disposition or abandonment of operations or productive assets (that is, for reorganizing and restructuring charges and other related expenses), or related to legal matters. These charges may be incurred in connection with a business combination, change in strategic plan, a managerial response to declines in demand, increasing costs or other environmental factors.
Payments Related To Restructuring And Legal Reserves
Payments related to a restructuring and legal reserve
Matching contributions to the plans for the plan years
Pension plan contribution
Cost of forestlands sold
Cost Of Forestlands Sold
Cost of forestlands sold
Periodic pension expense, net
The adjustment to remove the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value and gain/loss resulting from the sale of a business that is not considered a discontinued operation.
Net Gains Losses On Sales And Impairments Of Businesses
Net (gains) losses on sales and impairments of businesses
Net (gains) losses on sales and impairments of businesses
Gain (Loss) on Sale of Other Assets
Gain on sale of forestlands
Other, net
Changes in current assets and liabilities
Increase (Decrease) in Accounts and Notes Receivable
Accounts and notes receivable
Increase (Decrease) in Inventories
Inventories
Increase (Decrease) in Inventories, Total
Increase (Decrease) in Accounts Payable and Accrued Liabilities
Increase (Decrease) in Accounts Payable and Accrued Liabilities, Total
Accounts payable and accrued liabilities
Interest payable
Increase (Decrease) in Other Operating Assets and Liabilities, Net
Other
Cash Provided by (Used for) Operations
Cash Provided by (Used for) Operations
INVESTMENT ACTIVITIES
Invested in capital projects
Invested in capital projects
Acquisitions, net of cash acquired
Acquisitions, net of cash acquired
Payments to Acquire Businesses, Net of Cash Acquired, Total
Proceeds from divestitures
Proceeds from Divestiture of Businesses, Net of Cash Divested, Total
Equity investment in Ilim
Equity investment in Ilim
Payments for (Proceeds from) Other Investing Activities
Other
Cash Provided by (Used for) Investment Activities
Cash Provided by (Used for) Investment Activities
FINANCING ACTIVITIES
Repurchase of common stock and payments of restricted stock tax withholding
Repurchase of common stock and payments of restricted stock tax withholding
Issuance of common stock
Issuance of debt
Proceeds from Issuance of Long-term Debt, Total
Repayment of long-term debt
Reduction of debt
Repayments of Long-term Debt, Total
Change in book overdrafts
Dividends paid
Dividends paid
Payments of Dividends, Total
Proceeds from (Payments for) Other Financing Activities
Other
Cash Provided by (used for) Financing Activities
Cash Provided by (Used for) Financing Activities
Effect of Exchange Rate Changes on Cash
Effect of Exchange Rate on Cash and Cash Equivalents, Total
Change in Cash and Temporary Investments
Change in Cash and Temporary Investments
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash and Temporary Investments
Cash and Cash Equivalents, at Carrying Value
End of the period
Beginning of the period
Cash and Cash Equivalents, at Carrying Value, Total
Consolidated Statement of Changes in Equity
Statement, Equity Components [Axis]
Equity Component [Domain]
Common Stock Issued [Member]
Common Stock Issued
Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Treasury Stock [Member]
Total International Paper Shareholders' Equity [Member]
Noncontrolling Interest [Member]
Issuance of stock for various plans, net
Repurchase of stock
Repurchase of stock
Retirement of treasury stock
Retirement of treasury stock
Cash dividends - Common Stock
Cash dividends - Common Stock
Dividends paid to noncontrolling interests by subsidiary
Dividends paid to noncontrolling interests by subsidiary
Noncontrolling interests of acquired entities
Noncontrolling Interest, Period Increase (Decrease), Total
Acquisition of noncontrolling interests
Acquisition of noncontrolling interests
Comprehensive income (loss):
Other Comprehensive Income, Defined Benefit Plan's Adjustment, Amortization recognized as net periodic pension and postretirement (cost) benefit [Abstract]
Amortization of pension and postretirement prior service costs and net loss:
Amortization of prior service credit/ cost
U.S. plans (less tax of $58 in 2008, $75 in 2009 and $0 in 2010)
U.S. plans
Amortization of prior service credit
Pension and postretirement liability adjustments:
Net changes to accumulated comprehensive income during the period related to U.S. benefit plans, after tax.
Other Comprehensive Income U S Defined Benefit Plans Adjustment Net Of Tax
U.S. plans (less tax of $1128 in 2008, $259 in 2009)
U.S. plans
Net changes to accumulated comprehensive income during the period related to non-U.S. benefit plans, after tax.
Other Comprehensive Income Non U S Defined Benefit Plans Adjustment Net of tax
Non-U.S. plans (less tax of $1 in 2008, $3 in 2009)
Non-U.S. plans
Change in cumulative foreign currency translation adjustment
Change in cumulative foreign currency translation adjustment
Other Comprehensive Income, Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total
Net gains (losses) on cash flow hedging derivatives:
Net gains (losses) arising during the period (less tax of $61 in 2008, $17 in 2009 and $0 in 2010)
Net losses arising during the period (less tax of $61 in 2008, $17 in 2009 and $0 in 2010)
Net gains (losses) arising during the period
Other Comprehensive Income, Derivatives Qualifying as Hedges, Net of Tax, Total
Reclassification adjustment for gains included in net earnings (less tax of $16 in 2008, $41 in 2009 and $0 in 2010)
Reclassification adjustment for (gains) losses included in net earnings
Less\Plus: Reclassification adjustment for gains included in net earnings (less tax of $16 in 2008, $41 in 2009 and $0 in 2010)
Reclassification adjustment for gains included in net earnings (less tax of $16 in 2008, $41 in 2009 and $0 in 2010)
Reclassification adjustment for gains included in net earnings (less tax of $16 in 2008, $41 in 2009 and $0 in 2010)
Less\Plus: Reclassification adjustment for gains included in net earnings (less tax of $16 in 2008, $41 in 2009 and $0 in 2010)
Total comprehensive income (loss)
Total comprehensive income (loss)
Amortization of pension and postretirement prior service costs and net loss: U.S. plans, tax
The tax effect of net changes to accumulated comprehensive income during the period related to U.S. benefit plans, after tax.
Other Comprehensive Income U S Defined Benefit Plans Adjustment Tax
Pension and postretirement liability adjustments: U.S. plans, tax
Tax effect of net changes to accumulated comprehensive income during the period related to non-U.S. benefit plans, after tax.
Other Comprehensive Income Non U S Defined Benefit Plans Adjustment Tax
Pension and postretirement liability adjustments: Non-U.S. plans, tax
Net gains (losses) on cash flow hedging derivatives arising during the period, tax
Other Comprehensive Income, Derivatives Qualifying as Hedges, Tax Effect, Total
Reclassification adjustment for (gains) losses included in net earnings, tax
Summary of Business and Significant Accounting Policies
Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash f
lows. Describes procedure if disclosures are provided in more than one note to the financial statements. This element may be used to describe all significant accounting policies of the reporting entity.
Basis Of Presentation And Significant Accounting Policies Text Block
Summary of Business and Significant Accounting Policies
Recent Accounting Developments
RECENT ACCOUNTING DEVELOPMENTS Text Block
Recent Accounting Developments
Earnings Per Share Attributable to International Paper Company Common Shareholders
PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
Earnings Per Share Attributable to International Paper Company Common Shareholders
Restructuring Charges and Other Items
RESTRUCTURING CHARGES AND OTHER ITEMS text block
Restructuring Charges and Other Items
Acquisitions
Business Combination Disclosure [Text Block]
Acquisitions
Businesses Held for Sale, Divestitures and Impairments [Abstract]
Businesses Held for Sale, Divestitures and Impairments
HELD FOR SALE, DIVESTITURES AND IMPAIRMENTS
Businesses Held for Sale, Divestitures and Impairments
Supplementary Financial Statement Information [Abstract]
Supplementary Financial Statement Information
Supplemental Financial Information Disclosure
Supplemental Financial Information Disclosure Text Block
Supplementary Financial Statement Information
Goodwill and Other Intangibles [Abstract]
Goodwill and Other Intangibles
GOODWILL OTHER INTANGIBLES
Goodwill and Other Intangibles
Income Taxes
INCOME TAXES txtblock
Income Taxes
Commitments and Contingent Liabilities [Abstract]
Commitments and Contingent Liabilities
INGENT LIABILITIES
Commitments and Contingent Liabilities
Variable Interest Entities and Preferred Securities of Subsidiaries [Abstract]
Variable Interest Entities and Preferred Securities of Subsidiaries
NTEREST ENTITIES AND PREFERRED SECURITIES OF SUBSIDIARIES
Variable Interest Entities and Preferred Securities of Subsidiaries
Debt and Lines of Credit
OF CREDIT
Debt and Lines of Credit
Derivatives and Hedging Activities
EDGING ACTIVITIES
Derivatives and Hedging Activities
Capital Stock [Abstract]
Capital Stock
CAPITAL STOCK txt block
Capital Stock
Retirement Plans [Abstract]
Retirement Plans
RETIREMENT PLANS text block
Retirement Plans
Postretirement Benefits [Abstract]
Postretirement Benefits
POSTRETIREMENT BENE
Postretirement Benefits
Incentive Plans
INCENTIVE PLANS text block
Incentive Plans
Financial Information by Industry Segment and Geographic Area
FINANCIAL INFORMATION BY INDUSTRY SEGMENT AND GEOGRAPHIC AREA text block
Financial Information by Industry Segment and Geographic Area
Subsequent Event [Abstract]
Subsequent Event
Subsequent Event [Text Block]
Subsequent Event [Text Block]
Subsequent Event
Interim Financial Results (Unaudited)
Quarterly Financial Information [Text Block]
Interim Financial Results (Unaudited)
Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
Valuation and Qualifying Accounts
Nature of Operations [Text Block]
Nature of Business
Basis Of Presentation Policy [Text Block]
Basis Of Presentation Policy [Text Block]
Basis Of Presentation Policy
Financial Statements
Consolidation, Policy [Text Block]
Consolidation
Revenue Recognition, Policy [Text Block]
Revenue Recognition
Fuel Credits [Policy Text Block]
Fuel Credits [Policy Text Block]
Alternative Fuel Mixture Credits - Cost of Products Sold
Shipping and Handling Cost, Policy [Text Block]
Shipping and Handling Costs
Repairs and Maintenance Policy [Text Block]
Repairs and Maintenance Policy [Text Block]
Annual Maintenance Costs
Temporary Investments Policy [Text Block]
Temporary Investments Policy [Text Block]
Temporary Investments
Inventory, Policy [Text Block]
Inventories
Property, Plant and Equipment, Policy [Text Block]
Plants, Properties and Equipment
Forestlands Policy [Text Block]
Forestlands Policy [Text Block]
Forestlands
Goodwill Policy [Text Block]
Goodwill Policy [Text Block]
Goodwill
Impairment or Disposal of Long-Lived Assets, Policy [Text Block]
Impairment of Long-Lived Assets
Income Tax, Policy [Text Block]
Income Taxes
Share Based Compensation Policy [Text Block]
Share Based Compensation Policy [Text Block]
Stock-Based Compensation
Environmental Cost Policy [Text Block]
Environmental Cost Policy [Text Block]
Environmental Remediation Costs
Asset Retirement Obligation Policy [Text Block]
Asset Retirement Obligation Policy [Text Block]
Asset Retirement Obligations
Foreign Currency Transactions and Translations Policy [Text Block]
Foreign Currency Transactions and Translations Policy
Translation of Financial Statements
Reconciliation Of Earnings Per Share [Text Block]
Reconciliation Of Earnings Per Share [Text Block]
Reconciliation of Earnings Per Share
Restructuring and Other Charges [Table Text Block]
Restructuring and Other Charges [Table Text Block]
Restructuring and Other Charges
Restructuring and Other Charges by Business [Table Text Block]
Restructuring and Other Charges by Business [Table Text Block]
Restructuring and Other Charges by Business
Severance and Other Costs Restructuring Charges [Table Text Block]
Severance and Other Costs Restructuring Charges [Table Text Block]
Severance and Other Costs
Business Combination, Condensed Statement of Assets Acquired and Liabilities Assumed Disclosure [Text Block]
Business Combination Condensed Statement Of Assets Acquired And Liabilities Assumed Disclosure Text Block
Business Combination, Condensed Statement of Assets Acquired and Liabilities Assumed Disclosure
Fair Value of Assets and Liabilities Acquired
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Text Block]
Schedule of Identifiable Intangible Assets Acquired in Connection with the SCA Acquisition
Identifiable Intangible Assets Acquired in Connection with SCA Acquisition
Schedule of Finite Lived Intangible Assets and Infinite Lived Intangible Assets as Part of Business Combination [Table Text Block].
Schedule of Finite Lived Intangible Assets and Infinite Lived Intangible Assets as Part of Business Combination [Table Text Block]
Schedule of Identifiable Intangible Assets Acquired in Business Acquisition
Identifiable Intangible Assets Acquired in Connection with CBPR Acquisition
Business Acquisition, Pro Forma Information
Unaudited Pro Forma Information of Results of Operations
Schedule of Accounts, Notes, Loans and Financing Receivable [Text Block]
Accounts and Notes Receivable, Net
Inventory Disclosure Table
Inventory Disclosure Table Text Block
Inventories by Major Category
Property, Plant and Equipment Disclosure
Plants, Properties and Equipment by Major Classification
Schedule Of Certain Cash Payment [Text Block]
Schedule Of Certain Cash Payment Text Block
Cash Payments Related to Interest
Other Income and Other Expense Disclosure [Text Block]
Schedule of Interest Income and Interest Expense
Schedule of Goodwill [Text Block]
Changes in Goodwill Balances
Intangible Assets Disclosure
Net Carrying Amount of Identifiable Intangible Assets, Excluding Goodwill
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by (used in) operations using the indirect method.
Amortization of Intangible Assets [Table Text Block]
Amortization Expense of Intangible Assets
Schedule of US and Non-US Components of Income Before Income Tax Expense Benefit and Equity Earnings [Table Text Block]
Schedule of US and Non-US Components of Income Before Income Tax Expense Benefit and Equity Earnings [Table Text Block]
Schedule of U.S. and Non-U.S. Components of Income Before Income Tax Expense/ (Benefit) and equity earnings
Schedule of Components of Provision (Benefit) for Income Taxes [Text Block]
Schedule Of Components Of Provision Benefit For Income Taxes Text Block
Schedule of Components of Provision (Benefit) for Income Taxes by Taxing Jurisdiction
Reconciliation of Income Tax Expense Computed Using The US Statutory Federal Tax Rate [Text Block]
Reconciliation Of Income Tax Expense Computed Using The U S Statutory Federal Tax Rate Text Block
Reconciliation of Income Tax Expense Computed Using the US Statutory Federal Tax Rate
Components of Deferred Tax Assets and Liabilities [Text Block]
Components Of Deferred Tax Assets And Liabilities Text Block
Components of Deferred Tax Assets and Liabilities
Unrecognized Tax Benefits Reconciliation, Table [Text Block]
Unrecognized Tax Benefits Reconciliation Table Text Block
Unrecognized Tax Benefits Reconciliation, Table
Components of Net Provisions Related to Special Items [Text Block]
Components Of Net Provisions Related To Special Items Text Block
Components of Net Provisions Related to Special Items
Summary of Operating Loss Carryforwards
Schedule of Operating Lease And Purchase Obligations [Text Block]
Schedule Of Operating Lease And Purchase Obligations Text Block
Schedule of Operating Lease and Purchase Obligations
Future Minimum Commitments Under Existing Non-Cancelable Operating Leases and Purchase Obligations
Long-term Debt [Text Block]
Long-term Debt
Notional Amounts of Deriviatives Not designated as Hedging Instruments Disclosure.
Derivatives Not Designated As Hedging Instruments Disclosure Text Block
Derivatives Not Designated as Hedging Instruments Disclosure
Notional Amounts of Derivatives Designated as Hedging Instruments Disclosure.
Derivative Instruments Designated As Cash Flow Hedges Activity Disclosure Text Block
Derivative Instruments Designated as Cash Flow Hedges, Activity, Disclosure
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
Schedule of Derivative Instruments Recognized in Other Comprehensive Income
Schedule Of Derivative Instruments Recognized In Other Comprehensive Income Text Block
Schedule of Derivative Instruments Recognized In Other Comprehensive Income
Common Stock Disclosure [Text Block]
Common Stock Disclosure [Text Block]
Rollforward of Common Stock Activity
U S Pension Net Periodic Benefit Costs Disclosure [Table Text Block]
U S Pension Net Periodic Benefit Costs Disclosure [Table Text Block]
U.S. Pension, Net Periodic Benefit Costs Disclosure
U S Pension Net Periodic Benefit Costs Weighted Average Assumptions Disclosure [Table Text Block]
U S Pension Net Periodic Benefit Costs Weighted Average Assumptions Disclosure [Table Text Block]
U.S. Penison, Net Periodic Benefit Costs, Weighted Average Assumptions Disclosure
U S Pension Benefit Obligations Weighted Average Assumptions Disclosure [Table Text Block]
U S Pension Benefit Obligations Weighted Average Assumptions Disclosure [Table Text Block]
U.S. Pension, Benefit Obligations, Weighted Average Assumptions Disclosure
Effect of Change in Assumptions on 2011 Pension Expense [Table Text Block]
Effect of Change in Assumptions on 2011 Pension Expense [Table Text Block]
Effect of Change in Assumptions on 2011 Pension Expense
Pension Plan Asset Allocation Disclosure [Table Text Block]
Pension Plan Asset Allocation Disclosure [Table Text Block]
Pension Plan Asset Allocation Disclosure
Fair Value of Pension Plans Assets by Asset Class Disclosure [Table Text Block]
Fair Value of Pension Plans Assets by Asset Class Disclosure [Table Text Block]
Fair Value of Pension Plans Assets by Asset Class Disclosure
Changes in Level 3 Pension Assets and Liabilities Disclosure [Text Block]
Changes In Level3 Pension Assets And Liabilities Disclosure Text Block
Changes in Level 3 Pension Assets and Liabilities Disclosure
Pension, Expected Future Benefit Payments Disclosure [Text Block]
Pension Expected Future Benefit Payments Disclosure Text Block
Pension, Expected Future Benefit Payments Disclosure
Pension Plans With Accumulated Benefit Obligations In Excess Of The Fair Value Of Plan Assets Disclosure [Text Block]
Pension Plans With Accumulated Benefit Obligations In Excess Of The Fair Value Of Plan Assets Disclosure Text Block
Pension Plans With Accumulated Benefit Obligations In Excess Of The Fair Value Of Plan Assets Disclosure
Changes in Pension Benefit Obligation Plan Assets and Plan Funded Status Recognized in Other Comprehensive Loss Income Disclosure [Table Text Block]
Changes in Pension Benefit Obligation Plan Assets and Plan Funded Status Recognized in Other Comprehensive Loss Income Disclosure [Table Text Block]
Changes in Pension Benefit Obligation, Plan Assets and Plan Funded Status Recognized in Other Comprehensive Loss (Income) Disclosure
Pension Benefit Adjustments Recognized in Other Comprehensive Loss Income Disclosure [Table Text Block]
Pension Benefit Adjustments Recognized in Other Comprehensive Loss Income Disclosure [Table Text Block]
Pension Benefit Adjustments Recognized in Other Comprehensive (Loss) Income Disclosure
Foreign Pension, Net Periodic Benefit Costs, Disclosure [Text Block]
Foreign Pension Net Periodic Benefit Costs Disclosure Text Block
Foreign Pension, Net Periodic Benefit Costs, Disclosure
Foreign Pension Net Periodic Benefit Costs Weighted Average Assumptions Disclosure [Table Text Block]
Foreign Pension Net Periodic Benefit Costs Weighted Average Assumptions Disclosure [Table Text Block]
Foreign Pension, Net Periodic Benefit Costs Weighted Average Assumptions Disclosure
Foreign Pension Benefit Obligations Weighted Average Assumptions Disclosure [Text Block]
Foreign Pension Benefit Obligations Weighted Average Assumptions Disclosure Text Block
Foreign Pension Benefit Obligations Weighted Average Assumptions Disclosure
Changes in Foreign Pension Benefit Obligations, Plan Assets and Funded Status Recognized in Other Comprehensive loss Income Disclosure [Table Text Block]
Changes in Foreign Pension Benefit Obligations, Plan Assets and Funded Status Recognized in Other Comprehensive loss Income Disclosure [Table Text Block]
Changes in Foreign Pension Benefit Obligations, Plan Assets and Funded Status Recognized in Other Comprehensive (Loss) Income Disclosure
Foreign Pension Benefits Adjustments Recognized in Other Comprehensive Loss Income Disclosure [Table Text Block]
Foreign Pension Benefits Adjustments Recognized in Other Comprehensive Loss Income Disclosure [Table Text Block]
Foreign Pension Benefits Adjustments Recognized in Other Comprehensive (Loss) Income Disclosure
Other Postretirement Benefits Disclosure
Other Postretirement Benefits Disclosure Text Block
Other Postretirement Benefits Disclosure
Other Postretirement Benefits Schedule of Weighted Average Discount Rate
Benefit Obligations Weighted Average Assumptions Disclosure [Text Block]
Benefit Obligations Weighted Average Assumptions Disclosure Text Block
Benefit Obligations Weighted Average Assumptions Disclosure
Pension and Other Postretirement Benefits, Changes in Benefit Obligation and Fair Value of Plan Assets Disclosure [Text Block]
Pension And Other Postretirement Benefits Changes In Benefit Obligation And Fair Value Of Plan Assets Disclosure Text Block
Pension and Other Postretirement Benefits, Changes in Benefit Obligation and Fair Value of Plan Assets Disclosure
Pension and Other Postretirement Benefits, Recognized in Accumulated Comprehensive Loss Disclosure [Text Block]
Pension And Other Postretirement Benefits Recognized In Accumulated Comprehensive Loss Disclosure Text Block
Pension and Other Postretirement Benefits, Recognized in Accumulated Comprehensive Loss Disclosure
Other Postretirement Benefits, Expected Future Benefit Payments Disclosure [Text Block]
Other Postretirement Benefits Expected Future Benefit Payments Disclosure Text Block
Other Postretirement Benefits, Expected Future Benefit Payments Disclosure
Schedule of Share-based Compensation, Options Activity.
Schedule Of Share Based Compensation Options Activity Text Block
Schedule of Share-based Compensation, Options Activity
For each plan, identification of the award pricing model or other valuation method used in calculating the weighted average fair values disclosed. The model is also used to calculate the compensation expense that is shown within the balance sheet, income statement, and cash flow. Examples of valuation techniques are lattice models (binomial model), closed-form models (Black-Scholes-Merton formula), and a Monte Carlo simulation technique. Fair value is the amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between willing parties, that is, other than in a forced or liquidation sale. May include disclosures about the assumptions underlying application of the method selected.
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used Text Block
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions for Employee Stock Purchase Rights, Method Used [Text Block]
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions For Employee Stock Purchase Rights Method Used Text Block
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions for Employee Stock Purchase Rights, Method Used
Restricted Share Activity Disclosure.
Restricted Share Activity Disclosure Text Block
Restricted Share Activity Disclosure
Schedule of Information by Industry Segment
Quarterly Financial Information Table [Text Block]
Quarterly Financial Information Table Text Block
Quarterly Financial Information Table
Schedule of Valuation and Qualifying Accounts Disclosure Table [Text Block]
Schedule Of Valuation And Qualifying Accounts Disclosure Table Text Block
Schedule of Valuation and Qualifying Accounts Disclosure Table
Range [Axis]
Range [Axis]
Range [Domain]
Range [Domain]
Minimum [Member]
Minimum [Member]
Maximum [Member]
Maximum [Member]
Disclosure of profit or loss, total assets for each reportable region, and a description of the types of products and services for each reportable region.
Region Reporting Information, by Region [Axis]
A regional component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements.
Reporting Region [Domain]
United States [Member]
United States [Member]
Brazil [Member]
Brazil [Member]
Major Property Class [Axis]
Major Property Class [Domain]
Building [Member]
Machinery and Equipment [Member]
Depreciation Rate
Depreciation Rate
Annual straight-line depreciation rates
Forestlands Acreage Held
Forestlands Acreage Held
Forestlands acres held in United States initially by Southeast timber
Acres of forestlands managed or owned
Effect of dilutive securities
Dilutive Securities, Total
Earnings (loss) from continuing operations - assuming dilution
Earnings (loss) from continuing operations - assuming dilution
Average common shares outstanding
Weighted Average Number of Shares Outstanding, Basic, Total
Incremental Common Shares Attributable to Performance and Restricted Stock
Incremental Common Shares Attributable To Performance And Restricted Stock
Restricted performance share plan
Effect of dilutive securities Restricted performance share plan
Incremental Common Shares Attributable To Stock Options
Incremental Common Shares Attributable To Stock Options
Stock options
Average common share outstanding - assuming dilution
Average common shares outstanding - assuming dilution
Stock options, Options to purchase shares not included in the computation of diluted common shares outstanding
Restructuring Reserve, Expected Payments [Axis]
Restructuring Reserve, Expected Payments [Axis]
Restructuring Reserve, Expected Payments [Domain]
Restructuring Reserve, Expected Payments [Domain]
Restructuring - Fiscal 2010 Plan [Member]
Restructuring - Fiscal 2010 Plan [Member]
Restructuring - Fiscal 2009 Plan [Member]
Restructuring - Fiscal 2009 Plan [Member]
Restructuring - Fiscal 2008 Plan [Member]
Restructuring - Fiscal 2008 Plan [Member]
Restricted Cash and Cash Equivalents, Cash and Cash Equivalents [Axis]
Cash and Cash Equivalents [Domain]
Cash [Member]
Gain Contingencies by Nature [Axis]
Gain Contingency, Nature [Domain]
Reduction in Taxes [Member]
Fuel Mixture Credit [Member]
Fuel Mixture Credit [Member]
Cellulosic Bio-fuel Tax Credit [Member]
Cellulosic Bio-fuel Tax Credit [Member]
Restructuring charges, Net of Tax
Restructuring Charges Net Of Tax
Restructuring and other charges
Restructuring and other charges
Restructuring and other charges, net of tax
Severance charges
Severance and benefits
Restructuring and other charges, related benefits
Number of employees used to determine employee termination costs
Number Of Employees Used To Determine Employee Termination Costs
Severance costs and other benefits, number of employees
Number of employees who were terminated as of date
Number Of Employees Who Were Terminated As Of Date
Number of employees terminated
Alternative Fuel Mixture Tax Credit, Per Unit
Alternative Fuel Mixture Tax Credit Per Unit
Tax credit for using alternative fuel mixtures per gallon
U.S. Internal Revenue Code allows a 50 cents per gallon tax credit for the alternative fuel component of alternative fuel mixtures produced and used as fuel in a taxpayers trade or business.
Alternative Fuel Mixture Credits
Alternative fuel mixture credits
Alternative Fuel Mixture Credits Net of Tax
Alternative Fuel Mixture Credits Net Of Tax
Alternative fuel mixture credits included in cost of products sold after taxes
Cellulosic Biofuel Tax Credit Per Unit
Cellulosic Biofuel Tax Credit Per Unit
Tax credit for production of Cellulosic Biofuel per gallon
Production volume eligible for alternative fuel credit
Production Volume Not Eligible For Alternative Fuel Credit
Production of black liquor not eligible for alternative fuel mixture credit
Income Tax Credits and Adjustments
Income tax credits from alternative fuels
Statement, Business Segments [Axis]
Segment, Business [Domain]
U S Container Operations [Member]
U.S. Container Operations [Member]
Ace Packaging [Member]
Ace Packaging [Member]
Restructuring And Other Related Charges [Abstract]
Restructuring And Other Related Charges Abstract
Before-Tax Charges
Restructuring Charges Related To Restructured Closed Facilities
Restructuring Charges Related To Restructured Closed Facilities
Closure costs
The charge against earnings during the period associated with the early retirement of existing debt agreements.
Costs Related To Early Retirement Of Debt
Pre-tax early debt retirement costs related to debt repayments
Early debt extinguishment costs
Restructuring And Other Related Charges, Write Off Tax Receivable
Restructuring And Other Related Charges, Write Off Tax Receivable
Write-off of Ohio Commercial Activity tax receivable
Write-off of Ohio Commercial Activity tax receivable
Restructuring And Other Related Charges, Reorganization Cost
Restructuring And Other Related Charges, Reorganization Cost
Reorganization Cost
Reorganization costs
Restructuring And Other Related Charges, Selling And Administration Reduction Initiative
Restructuring And Other Related Charges, Selling And Administration Reduction Initiative
S&A reduction initiative
Restructuring Charges Related To Severance And Other Costs
Restructuring Charges Related To Severance And Other Costs
Severance and other costs
Restructuring And Other Related Charges, Write Off Of Supply Chain Initiative Development Costs
Restructuring And Other Related Charges, Write Off Of Supply Chain Initiative Development Costs
Write-off of supply chain initiative development costs for U.S. container operations
Restructuring And Other Related Charges, Legal Reserves
Restructuring And Other Related Charges, Legal Reserves
Legal reserve adjustments (see Note 10)
Other restructuring and closure costs
Other restructuring and closure costs
Other
Restructuring Charges Net Of Tax [Abstract]
Restructuring Charges Net Of Tax Abstract
After-Tax Charges
Restructuring Charges Related To Restructured Closed Facilities Net Of Tax
Restructuring Charges Related To Restructured Closed Facilities Net Of Tax
Closure costs
Closure costs, net of tax
Cost related to early retirement of debt, net of tax
Cost related to early retirement of debt, net of tax
Early debt extinguishment costs
Early debt extinguishment costs, net of tax
Restructuring And Other Related Charges, Write Off Tax Receivable Net of tax
Restructuring And Other Related Charges, Write Off Tax Receivable Net of tax
Write-off of Ohio Commercial Activity tax receivable, net of tax
Write-off of Ohio Commercial Activity tax receivable
Restructuring And Other Related Charges, Reorganization Cost Net of Tax
Restructuring And Other Related Charges, Reorganization Cost Net of Tax
Reorganization cost
Reorganization costs, net of tax
Restructuring And Other Related Charges, Selling And Administration Reduction Initiative Net of tax
Restructuring And Other Related Charges, Selling And Administration Reduction Initiative Net of tax
S&A reduction initiative
Severance Costs Net of Tax
Severance Costs Net Of Tax
Severance and benefits, net of tax
Severance and benefits
Restructuring Charges Related To Severance And Other Costs, Net Of Tax
Restructuring Charges Related To Severance And Other Costs, Net Of Tax
Severance and other costs
Severance and other costs, net of tax
Restructuring And Other Related Charges, Write Off Of Supply Chain Initiative Development Costs Net Of Tax
Restructuring And Other Related Charges, Write Off Of Supply Chain Initiative Development Costs Net Of Tax
Write-off of supply chain initiative development costs for U.S. container operations
Restructuring And Other Related Charges, Legal Reserves Net of Tax
Restructuring And Other Related Charges, Legal Reserves Net of Tax
Legal reserve adjustments (see Note 10)
Other Restructuring And Closure Costs Net Of Tax
Other Restructuring And Closure Costs Net Of Tax
Other
Other, net of tax
Segment Reporting Information, by Segment [Axis]
Reporting Segment [Domain]
Industrial Packaging [Member]
Industrial Packaging [Member]
Printing Papers [Member]
Printing Papers [Member]
Consumer Packaging [Member]
Consumer Packaging [Member]
Distribution [Member]
Distribution [Member]
Corporate [Member]
Corporate [Member]
Restructuring And Other Related Charges, Accelerated Depreciation Expense.
Restructuring And Other Related Charges Depreciation Expense
Accelerated depreciation and other noncash charges
Accelerated depreciation
Restructuring And Other Related Charges, Environmental Closure Costs
Restructuring And Other Related Charges Environmental Closure Costs
Environmental closure costs
Environmental charges
Gain (loss) on shut down of facility
Gain (loss) on shut down of facility
Gain (loss) on shutdown of facility
Gain (loss) on shut down of facility after tax, pre-tax
Adjustment to land value
Adjustment to land value
Write down of land value
Restructuring and Related Cost, by Type of Restructuring [Axis]
Type of Restructuring [Domain]
Employee Severance And Other Cost [Member]
Employee Severance and Other Cost [Member]
Additions
Cash charges
Cash charges
Restructuring Reserve, Settled with Cash, Total
Pension and postretirement termination benefits
Restructuring Reserve, Accrual Adjustment, Total
Restructuring Reserve
Ending Balance
Beginning Balance
Restructuring Reserve, Total
Business Acquisition [Axis]
Business Acquisition, Acquiree [Domain]
SCA Packaging Asia [Member]
SCA Packaging Asia [Member]
Containerboard Packaging Recycling (CBPR) Business Acquisition [Member]
Containerboard Packaging Recycling (CBPR) Business Acquisition [Member]
Unsecured Senior Notes [Member]
Unsecured Senior Notes [Member]
Bank Term Loan [Member]
Bank Term Loan [Member]
Receivables Securitization Program And Existing Cash Balances [Member]
Receivables Securitization Program And Existing Cash Balances [Member]
Acquisition of SCA Packaging Asia, purchase price
Business Acquisition, Cost of Acquired Entity, Purchase Price, Total
Acquisition of Businesses, cash paid
Acquisition of SCA Packaging Asia, debt assumed
Number Of Corrugated Box Plants
Number Of Corrugated Box Plants
Number of corrugated box plants
Number of specialty packaging facilities
Number of specialty packaging facilities
Proceeds from Issuance of Unsecured Debt
Debt issued in anticipation of CBPR business acquisition
Long term debt
Bank term loan received to finance the CBPR business acquisition
Business Acquisition, Purchase Price Allocation, Notes Payable and Long-term Debt
Anticipation of CBPR business acquisition
The noncash expense during the period from the sale of acquired inventory written up to fair value in purchase accounting.
Fair Value Write Up Of Acquired Inventory
Write up of purchase price allocation, inventories
Fair Value Write Up Of Acquired Inventory, Net Of Tax
Fair Value Write Up Of Acquired Inventory Net Of Tax
Write up of purchase price allocation, inventories net of tax
Selling and administrative expense related to integration of the CBPR business before tax
Business Combination, Acquisition Related Costs, Net Of Taxes
Business Combination Acquisition Related Costs Net Of Taxes
Selling and administrative expense related to integration of the CBPR business after tax
Business Acquisition, Purchase Price Allocation, Current Assets, Cash and Cash Equivalents
Cash and temporary investments
Accounts and notes receivable, net
Inventory
Business Acquisition, Purchase Price Allocation, Current Assets, Inventory, Total
Business Acquisition, Purchase Price Allocation, Other Current Assets
Business Acquisition, Purchase Price Allocation, Other Current Assets
Other current assets
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment, Total
Plants, properties and equipment, net
Business Acquisition, Purchase Price Allocation, Goodwill Amount
Business Acquisition, Purchase Price Allocation, Goodwill Amount, Total
Goodwill
Business Acquisition Purchase Price Allocation Deferred Tax Asset
Business Acquisition Purchase Price Allocation Deferred Tax Asset
Deferred tax asset
Other intangible assets
Business Acquisition, Purchase Price Allocation, Other Noncurrent Assets
Deferred charges and other assets
Total assets acquired
Total assets acquired
Business Acquisition, Purchase Price Allocation, Accounts Payable and Accrued Liabilities
Business Acquisition, Purchase Price Allocation, Accounts Payable and Accrued Liabilities
Accounts payable and accrued liabilities
Business Acquisition, Purchase Price Allocation, Other Liabilities
Business Acquisition, Purchase Price Allocation, Other Liabilities
Other current liabilities
Other liabilities
Business Acquisition Purchase Price Allocation Deferred Tax Liability
Business Acquisition Purchase Price Allocation Deferred Tax Liability
Deferred tax liability
Business Acquisition Purchase Price Allocation Non-Controlling Interest
Business Acquisition Purchase Price Allocation Non-Controlling Interest
Non-controlling interest
Total liabilities assumed
Total liabilities assumed
Net assets acquired
Net assets acquired
Finite-Lived Intangible Assets by Major Class [Axis]
Finite-Lived Intangible Assets, Major Class Name [Domain]
Land-Use rights [Member]
Land-Use Rights [Member]
Tradenames [Member]
Patented Technology [Member]
Proprietary Software [Member]
Power Agreements [Member]
Power Agreements [Member]
Water Rights [Member]
Water Rights [Member]
Sum of the carrying amounts of all intangible assets acquired in a business combination as of the balance sheet date, net of accumulated amortization and impairment charges.
Acquired Intangible Assets Net
Estimated fair value of identifiable intangible assets
Intangible assets, estimated useful life
Intangible Assets Estimated Useful Life
Average remaining useful life of identifiable intangible assets
Average remaining useful life of identifiable intangible asset
Finite-Lived Intangible Assets, Useful Life, Minimum
Average remaining useful life of identifiable intangible assets, minimum
Finite-Lived Intangible Assets, Useful Life, Maximum
Average remaining useful life of identifiable intangible assets, maximum
Business Acquisition, Pro Forma Revenue
Net sales
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax
Earnings (loss) from continuing operations
Business Acquisition, Pro Forma Net Income (Loss)
Net earnings (loss)
Earnings (loss) from continuing operations per common share
Net earnings (loss) per common share
Intangible Assets by Major Class [Axis]
Intangible Assets by Major Class [Axis]
Intangible Assets, Major Class Name [Domain]
Intangible Assets, Major Class Name [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Axis]
Disposal Groups, Including Discontinued Operations, Name [Domain]
Sale Beverage Packaging Business [Member]
Sale Beverage Packaging Business [Member]
Certain Wood Products Facilities [Member]
Certain Wood Products Facilities [Member]
Forestlands [Member]
Forest lands [Member]
Forestlands
Etienne Mill, France [Member]
Etienne Mill, France [Member]
Other Divestitures And Impairments [Member]
Other Divestitures and Impairments [Member]
Gain before taxes associated with the sale of discontinued operations
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax, Total
Gain after taxes associated with the sale of discontinued operations
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total
Income loss from discontinued operations, pre-tax charge
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax, Total
Income loss from discontinued operations, after taxes
Discontinued operations, net of taxes
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total
Equity Method Investment, Ownership Percentage
Ownership interest
Cash received from redemption of interest
Cash received from redemption of interest
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Net Of tax
Disposal Group Not Discontinued Operation Gain Loss On Disposal Net Of Tax
Gain after taxes related to the company's 2006 Transformation Plan forestlands sales
Net (gains) losses on sales and impairments of businesses
Net (gains) losses on sales and impairments of businesses, net of tax
Net (gains) losses on sales and impairments of businesses, net of tax
Net (gains) losses on sales and impairments of businesses, net of tax
Write down of long-lived assets of the mill to estimated fair value, before taxes
Impairment Of Long Lived Assets To Be Disposed Of, Net Of Tax
Impairment Of Long Lived Assets To Be Disposed Of Net Of Tax
Write down of long-lived assets of the mill to estimated fair value, net of tax
Gain Loss On Sale Of Business Before Tax
Gain Loss On Sale Of Business Before Tax
Gains (losses) of businesses previously sold, pre tax
Gain (loss) on sale of business, net of tax
Gain (loss) on sale of business, net of tax
Gains (losses) of businesses previously sold, net of tax
Redemption of interest
Percentage of inventories valued using last-in, first-out inventory method
Increase in total inventory balances if first-in, first-out method had been used
Depreciation
Depreciation expense
Depreciation, Total
Forestlands Acreage Sales
Forestlands Acreage Sales
Forestlands sold in September 2010 (in acres)
Forestlands acreage sales
Estimated Proceeds From Sale Of Timberland
Estimated Proceeds From Sale Of Timberland
Minimum Proceed received at closing
Proceeds from sale of timberlands
Gain (Loss) on Sale of Properties, before Applicable Income Taxes
Gain from sale of properties, pretax
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes
Gain from sale of properties, after tax
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes, Total
Proceeds From Sale Of Timberland
Proceeds From Sale Of Timberland
Cash proceeds from sale of timberlands
Estimated Remaining Proceeds From Sale Of Timberland
Estimated Remaining Proceeds From Sale Of Timberland
Amount to be received from sale of timberland
Percentage Of Partnerships Net Profits
Percentage Of Partnerships Net Profits
Partnership's net profits
Percentage of Partnership's net profits after achieving certain financial returns to be received
Raw materials
Inventory, Raw Materials, Total
Finished pulp, paper and packaging products
Inventory, Finished Goods, Total
Operating supplies
Other Inventory
Other Inventory, Total
Other
Property, Plant and Equipment by Type [Axis]
Property, Plant and Equipment, Type [Domain]
Mills Facilities [Member]
Mills Facilities [Member]
Packaging Facilities [Member]
Packaging Facilities [Member]
Pulp, Paper And Packaging Facilities, Gross
Pulp Paper And Packaging Facilities Gross
Pulp, paper and packaging facilities
Other plants, properties and equipment
Gross cost
Property, Plant and Equipment, Gross, Ending Balance
Property, Plant and Equipment, Gross, Beginning Balance
Gross cost
Less: Accumulated depreciation
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Beginning Balance
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Total
Interest payments
Interest expense
Interest Expense, Total
Interest expense and interest income, amount related to investments in and borrowings from variable interest entities
Interest income
Capitalized interest costs
Goodwill by Segment [Axis]
Goodwill, Segment [Domain]
European Coated Paperboard Business [Member]
European Coated Paperboard Business [Member]
U.S. Coated Paperboard Business [Member]
U.S. Coated Paperboard Business [Member]
U.S. Printing Papers Business [Member]
U.S. Printing Papers Business [Member]
Intangibles subject to amortization, estimated amortization expense in year 2011
Intangibles subject to amortization, estimated amortization expense in year 2012
Intangibles subject to amortization, estimated amortization expense in year 2013
Intangibles subject to amortization, estimated amortization expense in year 2014
Intangibles subject to amortization, estimated amortization expense in year 2015
Future Amortization Expense, Thereafter
Future Amortization Expense Thereafter
Intangibles subject to amortization, estimated amortization expense cumulatively thereafter
Goodwill Reclassifications And Other
Goodwill Reclassifications And Other
Reclassifications and other
Additions/reductions
Goodwill, Period Increase (Decrease), Total
Goodwill before accumulated impairments
Goodwill Before Accumulated Impairments
Balance as of December 31, 2009 Goodwill
Goodwill
Goodwill before accumulated impairments
Goodwill
Goodwill accumulated impairments
Goodwill accumulated impairments
Accumulated impairment losses
Intangible assets
Intangible Assets, Net (Excluding Goodwill), Total
Amortization expense related to intangible assets
Amortization of Intangible Assets, Total
Deferred Income Tax Expense Benefit For Effect Of Changes In Non US And US State Tax Rates
Deferred Income Tax Expense Benefit For Effect Of Changes In Non U S And U S State Tax Rates
Deferred income tax provision (benefit) for the effect of changes in non-U.S. and U.S. state tax rates
Income tax payments, net of refunds
Income Taxes Paid, Net, Total
Change in valuation allowance, after taxes
Valuation allowance for net deferred tax assets in France
Unrecognized tax benefits for tax positions for which the ultimate benefits are highly certain, but for which there is uncertainty about the timing of such benefits
Accrual for the payment of estimated interest and penalties associated with unrecognized tax benefits
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total
Estimated Reduction of Unrecognized Tax Benefits.
Estimated Reduction Of Unrecognized Tax Benefits
Estimated reduction of unrecognized tax benefits
Unrecognized tax benefits reduction
Unrecognized Tax Benefits, Period Increase (Decrease), Total
Income Tax Provision Benefit Related To Special Items
Income tax provision (benefit) related to special items
Income tax provision (benefit) related to special items
Income tax provision (benefit) related to special items
Income tax provision (benefit)
Income Tax Expense Benefit Excluding the Effect of Special Items
Income Tax Expense Benefit Excluding the Effect of Special Items
Income tax provision (benefit) excluding special items
Income Tax Expense Benefit Excluding the Impact of Special Items as a Percentage of Pre-Tax Earnings Before Equity Earnings.
Income Tax Expense Benefit Excluding the Impact of Special Items as a Percentage of Pre-Tax Earnings Before Equity Earnings
Income tax provision (benefit) excluding the impact of special items as a percentage of pre-tax earnings before equity earnings
Temporary differences amounts for which deferred income taxes are not provided
Earnings (loss)
U.S.
Income (Loss) from Continuing Operations before Income Taxes, Foreign
Non-U.S.
Current tax provision (benefit)
Current Federal Tax Expense (Benefit)
U.S. federal
Current State and Local Tax Expense (Benefit)
U.S. state and local
Current Foreign Tax Expense (Benefit)
Non-U.S.
Current Income Tax Expense (Benefit)
Current Income Tax Expense (Benefit), Total
Deferred tax provision (benefit)
Deferred Federal Income Tax Expense (Benefit)
U.S. federal
Deferred State and Local Income Tax Expense (Benefit)
U.S. state and local
Deferred Foreign Income Tax Expense (Benefit)
Non-U.S.
Statutory U.S. income tax rate
Tax expense (benefit) using statutory U.S. income tax rate
State and local income taxes
Tax rate and permanent differences on non-U.S. earnings
Net U.S. tax on non-U.S. dividends
Net U.S. tax on non-U.S. dividends
Tax benefit on export sales and manufacturing activities
Tax benefit on export sales and manufacturing activities
Non-deductible business expenses
Income Tax Reconciliation, Nondeductible Expense, Total
Income Tax Reconciliation, Deductions, Sales Of Non Strategic Assets And Goodwill Impairments
Income Tax Reconciliation Deductions Sales Of Non Strategic Assets And Goodwill Impairments
Sales of non-strategic assets and goodwill impairments
Income Tax Reconciliation, Deductions, Retirement Plan Dividends
Income Tax Reconciliation Deductions Retirement Plan Dividends
Retirement plan dividends
Income Tax Reconciliation, Deductions, Alternative Fuel Mixture Credits
Income Tax Reconciliation, Deductions, Alternative Fuel Mixture Credits
Alternative fuel mixture credits
Income tax reconciliation deductions cellulosic bio-fuel credits
Income tax reconciliation deductions cellulosic bio-fuel credits
Cellulosic bio-fuel credits
Tax credits
Tax credits
Income Tax Reconciliation, Tax Credits, Total
Medicare subsidy
Medicare subsidy
Income Tax Reconciliation, Deductions, Closure of IRS Examinations
Income Tax Reconciliation Deductions Closure Of I R S Examinations
Tax audits
Income Tax Reconciliation, Deductions, Other
Other, net
Effective income tax rate
Effective Income Tax Rate, Continuing Operations, Total
Deferred tax assets:
Postretirement benefit accruals
Pension obligations
Alternative minimum and other tax credits
Net operating loss carryforwards
Deferred Tax Assets, Operating Loss Carryforwards, Total
Deferred Tax Assets, Tax Deferred Expense, Reserves And Accruals, Compensation Reserves
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Compensation Reserves
Compensation reserves
Deferred Tax Assets, Other
Other
Gross deferred tax assets
Gross deferred tax assets
Valuation allowance for deferred tax assets
Less: valuation allowance
Deferred Tax Assets, Valuation Allowance, Total
Net deferred tax assets
Net deferred tax assets
Deferred tax liabilities:
Plants, properties and equipment
Plants, properties and equipment
Forestlands and related installment sales
Forestlands and related installment sales
Gross deferred tax liabilities
Gross deferred tax liabilities
Deferred Tax Liabilities, Total
Net deferred tax liability
Net deferred tax liability
Unrecognized Tax Benefits
Ending Balance
Beginning Balance
Ending Balance
Beginning Balance
Additions based on tax positions related to current year
Additions for tax positions of prior years
Reductions for tax positions of prior years
Reductions for tax positions of prior years
Settlements
Settlements
Expiration of statutes of limitations
Expiration of statutes of limitations
Unrecognized Tax Benefits, Increases Decreases Resulting From Currency Translation
Unrecognized Tax Benefits Increases Decreases Resulting From Currency Translation
Currency translation adjustment
Restructuring and other charges net tax provisions
Restructuring and other charges net tax provisions
Restructuring and other charges
Income tax provision benefit related to alterative fuel mixture credit
Income tax provision benefit related to alterative fuel mixture credit
Alternative fuel mixture credit
Incentive plan deferred tax write-off tax provisions
Incentive plan deferred tax write-off tax provisions
Incentive plan deferred tax write-off
Medicare D deferred tax write-off tax provisions
Medicare D deferred tax write-off tax provisions
Medicare D deferred tax write-off
Income Taxes Audit Benefit/Expense resulting from the completion of the Internal Revenue Service's (IRS) examination of historical U.S. federal income tax returns.
Income Taxes Audit Benefit Expense
Tax benefit related to the settlement of the 2004 and 2005 U.S. federal income tax audit and related income tax effects
Settlement of federal tax audits
Write Off Of Deferred Tax Assets
Write Off Of Deferred Tax Assets
Write-off of a deferred tax asset for a recycling tax credit in the state of Louisiana
Valuation allowance for Louisiana recycling credits
Restructuring of International Operations
Restructuring of International Operations
Impairment of international operations tax provision
Impairment of international operations tax provision
Impairment of certain non-U.S. Assets
Joint venture gain tax provision
Joint venture gain tax provision
Tax on Ilim joint venture gain
Other tax adjustments to tax provision
Other tax adjustments to tax provision
Other tax adjustments
Operating Loss Carryforwards by Tax Authority [Axis]
Income Tax Authority [Domain]
Net Operating Loss, 2011 Through 2020 [Member]
Net Operating Loss, 2011 Through 2020 [Member]
Net Operating Loss, 2021 Through 2030 [Member]
Net Operating Loss, 2021 Through 2030 [Member]
Net Operating Loss, Indefinite Life [Member]
Net Operating Loss, Indefinite Life [Member]
Operating Loss Carryforwards U.S. Federal And Non U.S.
Operating Loss Carryforwards U S Federal And Non U S
U.S. federal and non-U.S. NOLs
Operating Loss Carryforwards State Taxing Jurisdiction
Operating Loss Carryforwards State Taxing Jurisdiction
State taxing jurisdiction NOLs
Tax Credit Carryforward, US Federal, Non US And State
Tax Credit Carryforward U S Federal Non U S And State
U.S. federal, non-U.S. and state tax credit carryforwards
Capital Loss Carryforwards, State
Capital Loss Carryforwards State
State capital loss carryforwards
Total
Total
Statement, Geographical [Axis]
Segment, Geographical [Domain]
Cass Lake, Minnesota [Member]
Cass Lake, Minnesota [Member]
Rent expense
Operating Leases, Rent Expense, Total
Remediation reserve
Remediation reserve
Government Agency Levied Fine
Government Agency Levied Fine
Finalized proposed consent order to Company with a civil penalty
Lease obligations, due in 2011
Lease obligations, due in 2012
Lease obligations, due in 2013
Lease obligations, due in 2014
Lease obligations, due in 2015
Lease obligations, thereafter
Purchase obligations, due in 2011
Purchase obligations, due in 2012
Purchase obligations, due in 2013
Purchase obligations, due in 2014
Purchase obligations, due in 2015
Purchase obligations, thereafter
Future Operating Lease And Unconditional Purchase Obligation Due Within One Year
Future Operating Lease And Unconditional Purchase Obligation Due Within One Year
Lease and purchase obligations, due in 2011
Future Operating Lease And Unconditional Purchase Obligation Due In Second Year
Future Operating Lease And Unconditional Purchase Obligation Due In Second Year
Lease and purchase obligations, due in 2012
Future Operating Lease And Unconditional Purchase Obligation Due In Third Year
Future Operating Lease And Unconditional Purchase Obligation Due In Third Year
Lease and purchase obligations, due in 2013
Future Operating Lease And Unconditional Purchase Obligation Due In Fourth Year
Future Operating Lease And Unconditional Purchase Obligation Due In Fourth Year
Lease and purchase obligations, due in 2014
Future Operating Lease And Unconditional Purchase Obligation Due In Fifth Year
Future Operating Lease And Unconditional Purchase Obligation Due In Fifth Year
Lease and purchase obligations, due in 2015
Future Operating Lease And Unconditional Purchase Obligation Due After Fifth Year
Future Operating Lease And Unconditional Purchase Obligation Due After Fifth Year
Lease and purchase obligations, thereafter
Purchase obligations, fiber supply agreements
Recorded Unconditional Purchase Obligation, Total
Schedule of Held-to-maturity Securities, Major Types of Debt and Equity Securities [Axis]
Major Types of Debt Securities [Domain]
Timber Notes [Member]
Timber Notes [Member]
Monetized Notes And Cash [Member]
Monetized Notes and Cash [Member]
Preferred Securities Of Subsidiaries [Member]
Preferred Securities of Subsidiaries [Member]
Legal Entity [Axis]
Entity [Domain]
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest by Interest Type [Axis]
Variable Interest Type [Domain]
Class B Interest In Entities [Member]
Class B Interest in Entities [Member]
Preferred Interest In Financing Entity [Member]
Preferred Interest in Financing Entity [Member]
Received installment notes maturing August 2016 from sale of forestlands
Contribution of Class A interests in the Borrower Entities to other newly formed entities in December 2006
Notes Issued
Contribution of International Paper promissory notes to other newly formed entities
Interests held in entities in December 2006
Preferred Interest Offset Against Related Debt Obligations
Preferred Interest Offset Against Related Debt Obligations
Interest, offset against related debt obligations for one of the entities
Transferred notes (the Monetized Notes) and cash to entities in exchange for preferred interests
Entities acquired International Paper debt obligations for cash
Debt
International Paper debt obligations held by the Entities
Debt and Capital Lease Obligations, Total
Cash Collateral Percentage of Notes
Cash Collateral Percentage Of Notes
The percent of letters of credit supporting Timber Notes and Monetized Note that are cash collateralized
Distributions under preferred securities
Distributions under preferred securities
Distributions under preferred securities
Value of preferred stock issued during the period.
Stock Issued During Period Value Preferred New Issues
Preferred securities issued to a private investor with future dividend payments based on LIBOR in March 2003
Debt Instrument [Axis]
Debt Instrument, Name [Domain]
Notes Interest Rates Ranging From 7 Point 3 Percent To 9 Point 375 Percent Due From 2018 To 2039 [Member]
Notes Interest Rates Ranging From 7 Point 3 Percent To 9 Point 375 Percent Due From 2018 To 2039 [Member]
Notes Interest Rates Ranging From 5 Point 375 Percent To 6 Point 8 Percent Due From 2016 To 2024 [Member]
Notes Interest Rates Ranging From 5 Point 375 Percent To 6 Point 8 Percent Due From 2016 To 2024 [Member]
Notes Interest Rates Ranging From 5 Point 3 Percent To 9 Point 375 Percent Due From 2015 To 2019 [Member]
Notes Interest Rates Ranging From 5 Point 3 Percent To 9 Point 375 Percent Due From 2015 To 2019 [Member]
Restructuring and Other Charges [Member]
Interest Rate Swap [Member]
Notes Interest Rates Ranging From 5 Point 25 Percent To 7 Point 4 Percent Due From 2010 To 2027 [Member]
Notes Interest Rates Ranging From 5 Point 25 Percent To 7 Point 4 Percent Due From 2010 To 2027 [Member]
Senior Unsecured Notes 7 Point 3 Percent Due November 2039 [Member]
Senior Unsecured Notes 7 Point 3 Percent Due November 2039 [Member]
Notes Interest Rate LIBOR Plus A Margin Of 40 Point Basis Points Due In 2010 [Member]
Notes Interest Rate LIBOR Plus A Margin Of 40 Point Basis Points Due In 2010 [Member]
Notes Interest Rates Ranging From 4 Percent To 9 Point 375 Percent Due From 2009 To 2038 [Member]
Notes Interest Rates Ranging From 4 Percent To 9 Point 375 Percent Due From 2009 To 2038 [Member]
Senior Unsecured Notes 7 Point 5 Percent Due August 2021 [Member]
Senior Unsecured Notes 7 Point 5 Percent Due August 2021 [Member]
Issued in Connection with the Ilim Holdings SA Joint Venture Maturing in June 2009 [Member]
Issued in Connection with the Ilim Holdings S.A. Joint Venture Maturing June 2009 [Member]
Notes Interest Rates Ranging From 5 Point 125 Percent To 7 Point 4 Percent Due From 2012 To 2026 [Member]
Notes Interest Rates Ranging From 5 Point 125 Percent To 7 Point 4 Percent Due From 2012 To 2026 [Member]
Senior Unsecured Notes 9 Point 375 Percent Due May 2019 [Member]
Senior Unsecured Notes 9 Point 375 Percent Due May 2019 [Member]
Notes Interest Rates Ranging From 4 Percent To 9 Point 25 Percent Due From 2010 To 2012 [Member]
Notes Interest Rates Ranging From 4 Percent To 9 Point 25 Percent Due From 2010 To 2012 [Member]
Debt Initial Interest Rate LIBOR Plus A Margin Of 450 Basis Points Due March 2012 [Member]
Debt Initial Interest Rate LIBOR Plus A Margin Of 450 Basis Points Due March 2012 [Member]
Currency, Euro [Member]
Currency, Euro [Member]
Euro Denominated Debt Due August 2009 [Member]
Euro Denominated Debt Due August 2009 [Member]
Loans [Member]
Notes Interest Rates Ranging From 4 Point 25 Percent To 5 Percent Matured [Member]
Notes Interest Rates Ranging From 4 Point 25 Percent To 5 Percent Matured [Member]
Line of Credit Expires November 2012 [Member]
Line of Credit Expires November 2012 [Member]
Line of Credit Expires 2012 [Member]
Line of Credit Expires 2012 [Member]
Receivables Securitization Program Expires 2011 [Member]
Receivables Securitization Program Expires 2011 [Member]
Receivables Securitization Program Expires 2012 [Member]
Receivables Securitization Program Expires 2012 [Member]
Repaid debt
Repaid debt
Deferred gain of fair value hedge related to swap terminations that were recognized in earning
Gain on associated interest rate swaps
Derivative Instruments, Gain (Loss) Recognized in Income, Net, Total
Additional Repayment of Long Term Debt.
Additional Repayment of Long Term Debt
Additional repayment of long-term debt
Debt, Maturities, Repayments of Principal in Next Twelve Months
Debt Maturities Repayments Of Principal In Next Twelve Months
Principal payment of debt obligations to non-consolidated variable interest entities in 2011
Debt, Maturities, Repayments of Principal after Year Five
Debt Maturities Repayments Of Principal After Year Five
Principal payment of debt obligations to non-consolidated variable interest entities in 2016
Debt Obligations Offset Against Preferred Interest
Debt Obligations Offset Against Preferred Interest
Debt obligations offset against Class B interests
Long-term debt maturities in year 2011
Long-term debt maturities in year 2012
Long-term debt maturities in year 2013
Long-term debt maturities in year 2014
Long-term debt maturities in year 2015
Short Term Obligations Reclassification to Long Term Obligations
Short Term Obligations Reclassification To Long Term Obligations
Reclassification of current maturities of long-term debt as long-term debt
Maximum USD Limit Revolving Credit Facility for Commercial Paper Program
Maximum U S D Limit Revolving Credit Facility For Commercial Paper Program
Available commercial paper-based financings
Available liquidity facilities with outside banks and third parties.
Available liquidity facilities
Contractually committed credit facilities
Credit facility, commitment fee
Credit Facility Commitment Fee
Credit agreement facility fee
Credit Facilities No Longer Available
Credit Facilities No Longer Available
Revolving credit facilities available
Notes Interest Rate Ranging From 8 Point 7 Percent To 10 Percent Due 2038 [Member]
Notes Interest Rate Ranging From 8 Point 7 Percent to 10 Percent Due 2038 [Member]
Debentures Interest Rate Nine Point Three Seven Five Percent Due 2019 [Member]
Debentures Interest Rate 9 Point 375 Percent Due 2019 [Member]
9 3/8% note - due 2019
Debentures Interest Rate 9 Point 25 Percent Due 2011 [Member]
Debentures Interest Rate 9 Point 25 Percent Due 2011 [Member]
Debentures Interest Rate 7 Point 95 Percent Due 2018 [Member]
Debentures Interest Rate 7 Point 95 Percent Due 2018 [Member]
Notes Interest Rate Seven Point Five Percent Due 2021 [Member]
Notes Interest Rate 7 Point 5 Percent Due 2021 [Member]
Debentures Interest Rate 7 Point 4 Percent Due 2014 [Member]
Debentures Interest Rate 7 Point 4 Percent Due 2014 [Member]
Notes Interest Rate Seven Point Three Percent Due 2039 [Member]
Notes Interest Rate 7 Point 3 Percent Due 2039 [Member]
Notes Interest Rate 6 Point 875 Percent Due From 2023 To 2029 [Member]
Notes Interest Rate 6 Point 875 Percent Due From 2023 to 2029 [Member]
Notes Interest Rates Ranging From 6 Point 65 to 6 Point 75 Percent Due 2011 [Member]
Notes Interest Rates Ranging From 6 Point 65 to 6 Point 75 Percent Due 2011 [Member]
Debentures Interest Rates Ranging From 6 Point 4 Percent To 7 Point 75 Percent Due From 2025 To 2027 [Member]
Debentures Interest Rates Ranging From 6 Point 4 Percent To 7 Point 75 Percent Due From 2025 to 2027 [Member]
Notes Interest Rate 5 Point 85 Percent Due 2012 [Member]
Notes Interest Rate 5 Point 85 Percent Due 2012 [Member]
Notes Interest Rates Ranging From 5 Point 25 Percent To 5 Point 5 Percent Due From 2014 To 2016 [Member]
Notes Interest Rates Ranging From 5 Point 25 Percent to 5 Point 5 Percent Due From 2014 To 2016 [Member]
Short Term Notes [Member]
Short Term Notes [Member]
Floating Rate Notes Due From 2011 To 2016 [Member]
Floating Rate Notes Due From 2011 to 2016 [Member]
Environmental And Industrial Development Bonds Due From 2011 To 2034 [Member]
Environmental and Industrial Development Bonds Due From 2011 to 2034 [Member]
Debt, Other
Debt, Other [Member]
Total debt
Long-term Debt, Total
Less: current maturities
Less: current maturities
Long-term Debt, Current Maturities, Total
Long-term debt excluding current maturities
Long-term debt excluding current maturities
Long-term debt
Debt Outstanding, Type [Axis]
Debt Outstanding, Type [Axis]
Debt Outstanding, Type [Domain]
Debt Outstanding, Type [Domain]
Foreign-Denominated Debt and Commercial Loans [Member]
Foreign-Denominated Debt and Commercial Loans [Member]
Weighted average interest rate
Gain (loss) related to interest rate swaps treated as fair value hedges
Gain (Loss) on Fair Value Hedges Recognized in Earnings, Total
Unrealized gain on open swap contracts.
Unrealized Gain On Open Swap Contracts
Unamortized Gain (Loss) on interest rate swap
Debt Fair Value
Derivatives, Fair Value, by Balance Sheet Location [Axis]
Balance Sheet Location [Domain]
Floating To Fixed Interest Rate Swap [Member]
Floating To Fixed Interest Rate Swap [Member]
Fixed To Floating Interest Rate Swap Due September 2010 [Member]
Fixed To Floating Interest Rate Swap Due September 2010 [Member]
Fixed To Floating Interest Rate Swap Due in 2009 [Member]
Fixed To Floating Interest Rate Swap Due in 2009 [Member]
Foreign Exchange Contracts To Sell US Dollar For Brazilian Real [Member]
Foreign Exchange Contracts To Sell US Dollar For Brazilian Real [Member]
Derivative, by Nature [Axis]
Derivative, Name [Domain]
Nondesignated [Member]
Termination [Member]
Termination [Member]
Added [Member]
Added [Member]
Derivative Instruments Related to Oil and Gas Production Components Axis
Derivative Instruments Related to Oil and Gas Production Components Axis
Derivative Instruments Related to Oil and Gas Production Component Domain
Derivative Instruments Related to Oil and Gas Production Component Domain
Fuel Oil [Member]
Fuel Oil [Member]
Derivatives, Fair Value, by Derivative Instrument Risk [Axis]
Derivative Contract Type [Domain]
Commodities [Member]
Commodity Contract [Member]
Derivative Instruments, Gain (Loss) by Hedging Relationship [Axis]
Hedging Relationship [Domain]
Fair Value Hedging [Member]
Long-term Debt [Member]
Cash Flow Hedging [Member]
Gains/(Losses) due to changes in the fair value of foreign exchange contracts not designated as hedges
Notional value of interest rate swap agreement that do not qualify as hedges that matured in September 2010
Outstanding notional amounts of interest rate swap agreements that qualify as fully effective fair value hedges
Changes in the fair value of undesignated interest rate swaps
asdfd
Gain Loss to be recognized over next twelve months On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
Changes in the fair value of undesignated interest rate swaps to be recognized over next 12 months
Outstanding notional amounts of interest rate swap agreements that qualify as fully effective fair value hedges
Credit Risk Related Contingent Features, Collateral Threshold
Credit Risk Related Contingent Features Collateral Threshold
Collateral threshold based on company's current credit rating
Fair values of derivative instruments containing credit-risk-related contingent features in a net liability position
Notional Amount Of Derivatives, Terminations
Notional Amount Of Derivatives Terminations
Notional value of interest rate swap hedges that are terminated
Notional Amount Of Derivatives Dedesignated
Notional Amount Of Derivatives Dedesignated
Notional value of interest rate swap hedges that were dedesignated
Gain from termination of interest rate swap agreement designated as a fair value hedge that are deferred and recorded in Long-term debt
Deferred gain related to earlier swap terminations that were recognized in earning
Notional value of derivative instruments
Notional Amount of Derivatives, Total
Debt Instrument Effective Date
Debt Instrument Effective Date
Interest Rate Swap effective date
Hedged Derivatives, Maturity, Lower Limit
Hedged Derivatives Maturity Lower Limit
Maturity period of hedges, minimum
Interest rate swap, maturity period
Hedged Derivatives, Maturity, Upper Limit
Hedged Derivatives Maturity Upper Limit
Maturity period of hedges, maximum
Interest Rate Swap Contract at Fair Value
Interest Rate Swap Contract At Fair Value
Fixed-to-floating interest rate swap that matured in September 2010
Accumulated other comprehensive income (loss) balances related to interest rate derivatives, before tax
Accumulated Other Comprehensive Income Loss Balances Related To Interest Rate Derivatives Before Tax
Pre-tax loss of treasury rate lock agreements recorded in Accumulated Other Comprehensive Income Loss
Debt Instrument, Effective Interest Rate, Percentage after Interest Rate Swap
Debt Instrument Effective Interest Rate Percentage After Interest Rate Swap
Effective interest rate
Hedged volume of natural gas
Hedged volume of natural gas
Volume of hedged items
Volume of hedged items
Hedged volumes of energy contracts
Deferred gains/(losses) after taxes expected to be recognized through earnings within the next 12 months
Maximum Contracts maturity period
Foreign exchange contracts to sell U.S. dollars and buy Brazilian reals were undesignated as cash flow hedges
Sell Notional
Other Comprehensive Income, Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax
Deferred gain on foreign exchange contracts, net of tax
Cash received on termination of foreign exchange contract
Cash received on termination of foreign exchange contract
Foreign Exchange Contracts To Purchase Currencies Axis
Foreign Exchange Contracts To Purchase Currencies Axis
Foreign Exchange Contracts To Purchase Currencies Domain
Foreign Exchange Contracts To Purchase Currencies Domain
Foreign Exchange Contracts To Sell US Dollar For European Euro [Member]
Foreign Exchange Contracts To Sell US Dollar For European Euro [Member]
Foreign Exchange Contracts To Sell European Euro For Great British Pounds [Member]
Foreign Exchange Contracts To Sell European Euro For Great British Pounds [Member]
Foreign Exchange Contracts To Sell European Euro For Polish Zloty [Member]
Foreign Exchange Contracts To Sell European Euro For Polish Zloty [Member]
Foreign Exchange Contracts To Sell European Euro For U S dollar [Member]
Foreign Exchange Contracts To Sell European Euro For U S dollar [Member]
Foreign Exchange Contracts To Sell South Korean won For U S dollar [Member]
Foreign Exchange Contracts To Sell South Korean won For U S dollar [Member]
Foreign Exchange Contracts To Sell European Euro For Brazilian Real [Member]
Foreign Exchange Contracts To Sell European Euro For Brazilian Real [Member]
Foreign Exchange Contracts To Sell British Pounds For Brazilian Real [Member]
Foreign Exchange Contracts To Sell British Pounds For Brazilian Real [Member]
Interest Rate Contract [Member]
Fuel Oil Contract [Member]
Fuel Oil Contract [Member]
Natural gas swap contracts [Member]
Natural Gas Swap Contracts [Member]
Foreign Exchange Contract [Member]
Embedded Derivative [Member]
Embedded Derivative [Member]
Assets derivatives
Assets derivatives designated as hedging instruments
Assets derivatives not designated as hedging instruments
Derivative Asset, Fair Value
Total derivatives
Liabilities Derivatives
Liability derivatives designated as hedging instruments
Liability derivatives not designated as hedging instruments
Total derivatives
Total derivatives
Deferred Charges And Other Assets [Member]
Deferred Charges and Other Assets [Member]
Accounts And Notes Receivable [Member]
Accounts and Notes Receivable [Member]
Other Current Assets [Member]
Other Current Assets [Member]
Other Accrued Liabilities [Member]
Other Accrued Liabilities [Member]
Other Liabilities [Member]
Derivative Instruments, Gain (Loss) by Income Statement Location [Axis]
Income Statement and Other Comprehensive Income Location [Domain]
Interest Income (Expense), Net [Member]
Interest Income (Expense), Net [Member]
Cost of Products Sold [Member]
Gain or (Loss) Recognized in OCI (Effective Portion)
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income, Effective Portion, Net, Total
(Gain) or Loss Reclassified from OCI into Income (Effective Portion)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total
Class of Stock [Axis]
Class of Stock [Domain]
Cumulative Preferred Stock [Member]
Serial Preferred Stock [Member]
Serial Preferred Stock [Member]
Common stock, authorized shares
Preferred stock, authorized shares
Preferred stock dividend rate
Preferred stock dividend rate
Preferred stock, par value (stated value)
Treasury Stock, Shares, Retired
Retirement of treasury stock
Shares retired
Retirement of treasury stock
Stock Issued During Period, Shares, New Issues
Issuance of stock for various plans, net
Issuance of stock for various plans, net
Stock Repurchased During Period, Shares
Repurchase of stock, common shares
Treasury Stock, Shares, Acquired
Repurchase of stock, treasury stock
Defined Benefit Plans Disclosures, Defined Benefit Plans [Axis]
Defined Benefit Plans [Domain]
United States Pension Plans of US Entity, Defined Benefit [Member]
Foreign Pension Plans, Defined Benefit [Member]
Defined Benefit Plan by Plan Asset Categories [Axis]
Plan Asset Categories [Domain]
Qualified Defined Benefit Pension Plans [Member]
Qualified Defined Benefit Pension Plans [Member]
Non Qualified Pension Plans [Member]
Non Qualified Pension Plans [Member]
Albany Oregon Mill Overfunded Pension Plan [Member]
Albany Oregon Mill Overfunded Pension Plan [Member]
Defined Benefit Plan, Voluntary Employer Contributions
Defined Benefit Plan Voluntary Employer Contributions
Defined benefit plans contribution
Benefits paid
Benefits paid
Benefits paid
Benefit Payments in 2011
Nonqualified plans funded expected to be paid in 2011
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate
Discount rate
Defined Benefit Plan Number Of Graded Bonds Used For The Yield Curve Determination Of The Discount Rate
Defined Benefit Plan Number Of Graded Bonds Used For The Yield Curve Determination Of The Discount Rate
Estimated number of Aa Bonds used for determination of the discount rate assumption
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost For Next Fiscal Year Expected Long Term Return On Assets
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost For Next Fiscal Year Expected Long Term Return On Assets
Expected long term return on plan assets used for calculating pension expense
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost For Next Fiscal Year Discount Rate
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost For Next Fiscal Year Discount Rate
Assumed discount rate used for calculating pension expense
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost For Next Fiscal Year Rate Of Compensation Increase
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost For Next Fiscal Year Rate Of Compensation Increase
Assumed rate of compensation increase used for calculating pension expense
Defined Benefit Plan Net Periodic Benefit Cost Estimate For Next Fiscal Year
Defined Benefit Plan Net Periodic Benefit Cost Estimate For Next Fiscal Year
Estimated net pension expense for 2011
Net benefit expense
Net benefit expense
Defined benefit expense
Defined Benefit Plans Period Over Which Net Actuarial Gains And Losses Are Recognized
Defined Benefit Plans Period Over Which Net Actuarial Gains And Losses Are Recognized
Period over which net gains and losses are recognized prospectively
Decrease in the recorded minimum pension obligation
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease), Total
Net changes to accumulated comprehensive income during the period related to benefit plans, after tax.
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax
Adjustments to other comprehensive income, credits (charges)
Accumulated benefit obligation for all defined benefit plans
Estimated amount of net loss that will be amortized from OCI into net benefit cost in 2011
Estimated amount of prior service cost credit that will be amortized from OCI into net benefit cost in 2011
Increased benefit obligation as a result of a decrease in the discount rate assumption
Increase (Decrease) In Plan Assets
Increase Decrease In Plan Assets
Plan assets increase reflecting favorable investment results
Increase (decrease) in the amounts recognized in OCI
Increase (decrease) in the amounts recognized in OCI
Defined Benefit Plan, Funded Status of Plan, Net Amount Recognized
Defined Benefit Plan Funded Status Of Plan Net Amount Recognized
Change in the funded status that was recognized in either net periodic benefit cost or OCI
Change in the funded status that was recognized in either net periodic benefit cost or OCI
Projected benefit obligation
Defined Benefit Plan, Pension Plans With Projected Benefit Obligations In Excess Of Plan Assets, Aggregate Accumulated Benefit Obligation
Defined Benefit Plan Pension Plans With Projected Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
Accumulated benefit obligation
Defined Benefit Plan, Pension Plans With Projected Benefit Obligations In Excess Of Plan Assets, Aggregate Fair Value Of Plan Assets
Defined Benefit Plan Pension Plans With Projected Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
Fair value of plan assets
Company contributions
Defined Benefit Plan, Service Cost
Service cost
Defined Benefit Plan, Interest Cost
Interest cost
Expected return on plan assets
Expected return on plan assets
Actuarial (gain) loss
Actuarial (gain) loss
Amortization of prior service cost
Amortization of prior service credits
Special termination benefits
Termination benefits
Defined Benefit Plan, Curtailments and Settlements
Defined Benefit Plan Curtailments And Settlements
Curtailment (gains) losses
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets
Expected long-term rate of return on plan assets
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase
Rate of compensation increase
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate
Discount rate
Health care cost trend rate assumed for next year
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase
Rate of compensation increase
Rate that the cost trend rate gradually declines to
Year that the rate reaches the rate it is assumed to remain
Defined Benefit Plan Effect Of Twenty Five Basis Points Decrease Of Discount Rate On Net Periodic Benefit Cost Estimated For Next Fiscal Year
Defined Benefit Plan Effect Of Twenty Five Basis Points Decrease Of Discount Rate On Net Periodic Benefit Cost Estimated For Next Fiscal Year
Discount rate
Defined Benefit Plan Effect Of Twenty Five Basis Points Decrease On Net Periodic Benefit Cost Expected Long Term Return On Assets Estimated For Next Fiscal Year
Defined Benefit Plan Effect Of Twenty Five Basis Points Decrease On Net Periodic Benefit Cost Expected Long Term Return On Assets Estimated For Next Fiscal Year
Expected long-term rate of return on plan assets
Defined Benefit Plan Effect Of Twenty Five Basis Points Decrease On Net Periodic Benefit Costs Rate Of Compensation Increase Estimated For Next Fiscal Year
Defined Benefit Plan Effect Of Twenty Five Basis Points Decrease On Net Periodic Benefit Costs Rate Of Compensation Increase Estimated For Next Fiscal Year
Rate of compensation increase
Defined Benefit Plan, Equity Securities
Equity accounts
Defined Benefit Plan, Fixed Income Accounts
Defined Benefit Plan, Fixed Income Accounts
Fixed income accounts
Defined Benefit Plan, Real Estate
Real estate accounts
Defined Benefit Plan, Other Plan Assets
Other
Defined Benefit Plan, Actual Plan Asset Allocations
Total
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities, Range Minimum
Equity accounts, minimum
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities, Range Maximum
Equity accounts, maximum
Defined Benefit Plan, Target Allocation Percentage of Assets, Fixed Income Securities, Range Minimum
Defined Benefit Plan, Target Allocation Percentage of Assets, Fixed Income Securities, Range Minimum
Fixed income accounts, minimum
Defined Benefit Plan, Target Allocation Percentage of Assets, Fixed Income Securities, Range Maximum
Defined Benefit Plan, Target Allocation Percentage of Assets, Fixed Income Securities, Range Maximum
Fixed income accounts, maximum
Defined Benefit Plan, Target Allocation Percentage of Assets, Real Estate, Range Minimum
Real estate accounts, minimum
Defined Benefit Plan, Target Allocation Percentage of Assets, Real Estate, Range Maximum
Real estate accounts, maximum
Defined Benefit Plan, Target Allocation Percentage of Assets, Other, Range Minimum
Other, minimum
Defined Benefit Plan, Target Allocation Percentage of Assets, Other, Range Maximum
Other, maximum
Defined Benefit Plan, Fair Value of Plan Assets by Measurement [Axis]
Fair Value Plan Asset Measurement [Domain]
Fair Value, Inputs, Level 1 [Member]
Fair Value, Inputs, Level 2 [Member]
Fair Value, Inputs, Level 3 [Member]
US Equity Securities [Member]
US Equity Securities [Member]
Foreign Corporate Equity Securities [Member]
Foreign Corporate Equity Securities [Member]
Collective Trust Fund [Member]
Collective Trust Fund [Member]
Corporate Bond Securities [Member]
US Government Debt Securities [Member]
Collateralized Mortgage Backed Securities [Member]
Fixed Income Securities [Member]
Hedge Funds [Member]
Private Equities [Member]
Private Equities [Member]
Real Estate [Member]
Derivative [Member]
Cash and Cash Equivalents [Member]
Total Investments
Fair value of plan assets, Ending Balance
Fair value of plan assets, Beginning Balance
Fixed Income Collective Trust Fund [Member]
Fixed Income Collective Trust Fund
Actual return on plan assets:
Relating to assets still held at the reporting date
Relating to assets sold during the period
Purchases, sales and settlements
Defined Benefit Plan, Purchases, Sales, and Settlements, Total
Transfers in and/or out of Level 3
Benefit Payments in 2012
Benefit Payments in 2013
Benefit Payments in 2014
Benefit Payments in 2015
Benefit Payments in 2016 - 2020
Benefit Obligations [Member]
Benefit Obligations [Member]
Plan Assets [Member]
Plan Assets [Member]
Change in projected benefit obligation:
Benefit obligation
Benefit obligation, Ending Balance
Benefit obligation, Beginning Balance
Defined Benefit Plan, Contributions by Plan Participants
Participants' contributions
Defined Benefit Plan, Other Benefit Obligations
Defined Benefit Plan Other Benefit Obligations
Less: Federal subsidy
Plan amendments
Curtailment
Curtailments
Defined Benefit Plan, Settlements, Benefit Obligation
Settlement gain
Settlements
Defined Benefit Plan, Restructuring
Defined Benefit Plan Restructuring
Restructuring
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Benefit Obligation
Effect of foreign currency exchange rate movements
Change in plan assets:
Actual return on plan assets
Defined Benefit Plan, Actual Return on Plan Assets, Total
Defined Benefit Plan, Fair Value of Plan Assets, Benefits Paid
Defined Benefit Plan, Fair Value of Plan Assets, Benefits Paid
Benefits paid
Defined Benefit Plan, Settlements, Plan Assets
Settlements
Defined Benefit Plan, Funded Status of Plan, Contributions
Defined Benefit Plan, Funded Status of Plan, Contributions
Participants' contributions
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets
Effect of foreign currency exchange rate movements
Funded status, Ending Balance
Defined Benefit Plan, Funded Status of Plan, Total
Amounts recognized in the consolidated balance sheet:
Non-current asset
Defined Benefit Pension Plan Liabilities, Current
Defined Benefit Pension Plan Liabilities Current
Current liability
Defined Benefit Plan, Amounts Recognized in Balance Sheet
Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total
Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):
Prior service cost
Net actuarial (gain) loss
Net actuarial (gain) loss
Defined Benefit Plan, Accumulated Other Comprehensive Income, before Tax
Defined Benefit Plan, Accumulated Other Comprehensive Income, before Tax, Total
Defined Benefit Plan, Accumulated Other Comprehensive Income, before Tax, Total
Other Comprehensive Income, Defined Benefit Plan Curtailment Effects, Net of Tax
Other Comprehensive Income Defined Benefit Plan Curtailment Effects Net Of Tax
Curtailment effects
Current year actuarial (gain) loss
Current year actuarial (gain) loss
Amortization of actuarial gain/ loss
Amortization of actuarial loss
Current year prior service credit/ cost
Current year prior service credit
Other comprehensive income settlements adjustment net of tax
Other comprehensive income settlements adjustment net of tax
Settlements
United States Postretirement Benefit Plans of US Entity, Defined Benefit [Member]
Foreign Postretirement Benefit Plans, Defined Benefit [Member]
Increased in the accumulated postretirement benefit obligation due to a 1% increase in annual health care cost trend rate
Decreased in the accumulated postretirement benefit obligation due to a 1% decrease in the annual trend rate
Defined Benefit Plan, Effect Of One Percentage Point Increase (Decrease) On Net Postretirement Benefit Cost
Defined Benefit Plan Effect Of One Percentage Point Increase Decrease On Net Postretirement Benefit Cost
A 1% increase or decrease effect on net postretirement benefit cost
After-tax charge (credit)
For classified balance sheets this represents the current liability recognized in the balance sheet that is associated with other postretirement defined benefit plans (excluding pension plans). (The current liability will be separate, but it will normally be small, if there is even any at all.) For unclassified balance sheets, this represents the entire liability recognized in the balance sheet that is associated with the plans.
Other Postretirement Defined Benefit Plan, Current Liabilities
Current liability
Subsidy Receipts in 2011
Subsidy Receipts in 2012
Subsidy Receipts in 2013
Subsidy Receipts in 2014
Subsidy Receipts in 2015
Subsidy Receipts in 2016 - 2020
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Award Type and Plan Name [Axis]
Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain]
Incentive Compensation Plan [Member]
Incentive Compensation Plan [Member]
Stock Appreciation Rights [Member]
Stock Appreciation Rights [Member]
Restricted Stock Units [Member]
Restricted Stock Units [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments, by Title of Individual [Axis]
Title of Individual with Relationship to Entity [Domain]
Other Participants [Member]
Other Participants [Member]
Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number
Outstanding Ending Balance
Outstanding Beginning Balance
Stock rights and stock units
Share Based Compensation Arrangement by Share Based Payment Award, Weight Of Return On Investment
Share Based Compensation Arrangement By Share Based Payment Award Weight Of Return On Investment
Weight of Return on investment (ROI) on awards
Share Based Compensation Arrangement By Share Based Payment Award, Weight of Total Shareholder Return
Share Based Compensation Arrangement By Share Based Payment Award Weight Of Total Shareholder Return
Weight of Total shareholder return (TSR) on awards
Share Based Compensation General And Administrative Expense
Share Based Compensation General And Administrative Expense
Stock-based compensation cost recognized in selling and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant
Shares available for grant
Actual tax deduction realized for stock-based compensation costs related to non-qualified stock options
Compensation cost related to unvested restricted performance shares, executive continuity awards and restricted stock attributable to future performance, net of estimated forfeitures
Compensation cost related to unvested restricted performance shares, executive continuity awards and restricted stock attributable to future performance, net of estimated forfeitures, weighted-average period (in years)
Employee Service Share Based Compensation, Tax Benefit Realized From Restricted And Performance Shares
Employee Service Share Based Compensation Tax Benefit Realized From Restricted And Performance Shares
Actual tax deduction realized for stock-based compensation costs related to restricted and performance shares
Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number
Outstanding Ending Balance
Outstanding Beginning Balance
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period
Granted
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period
Exercised
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period
Forfeited
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period
Expired
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Exercise Price [Abstract]
Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Outstanding Ending Balance
Outstanding Beginning Balance
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price
Granted
Share-Based Compensation Arrangement By Share-Based Payment Award Options Exercised In Period Weighted Average Exercise Price
Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Exercise Price
Exercised
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price
Forfeited
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price
Expired
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Term [Abstract]
Weighted Average Remaining Life (years)
Share-based Compensation, Options, Outstanding, Weighted Average Remaining Contractual Term
Share-based Compensation, Options, Outstanding, Weighted Average Remaining Contractual Term
Outstanding Ending Balance
Outstanding Beginning Balance
Share-based Compensation Arrangement by Share-based Payment Award, Options, Aggregate Intrinsic Value [Abstract]
Aggregate Intrinsic Value
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value
Outstanding Ending Balance
Outstanding Beginning Balance
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Lower Limit
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Lower Limit
Expected volatility, lower limit
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Upper Limit
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Upper Limit
Expected volatility, upper limit
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Lower Limit
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Lower Limit
Risk-free interest rate, lower limit
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Upper Limit
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Upper Limit
Risk-free interest rate, upper limit
Performance Share Program [Member]
Performance Share Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Rollforward [Abstract]
Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period
Granted
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
Shares issued
Shares issued
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period
Forfeited
Forfeited
Weighted Average Grant-Date Fair Value
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Outstanding Ending Balance
Outstanding Beginning Balance
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value
Granted
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
Shares issued
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Weighted Average Grant Date Fair Value
Forfeited
Schedule of Share-based Compensation Arrangement by Share-based Payment Award [Axis]
Schedule of Share-based Compensation Arrangement by Share-based Payment Award [Axis]
Share-based Compensation Arrangements by Share-based Payment Award [Domain]
Share-based Compensation Arrangements by Share-based Payment Award [Domain]
Retirement [Member]
Retirement [Member]
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options, Shares held For Payout in Future Periods.
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Shares Held For Payout In Period
Shares held for payout
Executive Continuity And Restricted Stock Award Program [Member]
Executive Continuity and Restricted Stock Award Program [Member]
Segment Reporting Information, by Segment, Secondary [Axis]
Segment Reporting Information, by Segment, Secondary [Axis]
Segment Reporting Information, by Segment, Secondary [Domain]
Segment Reporting Information, by Segment, Secondary [Domain]
Ilim Holding [Member]
Ilim Holding [Member]
Percentage Of Ownership Interests
Percentage Of Ownership Interests
Percentage of equity interest
Forest Products [Member]
Forest Products [Member]
Corporate and Inter Segment Sales [Member]
Corporate and Intersegment Sales [Member]
Operating Profit
Income From Equity Method Investment And Income Attributable To Noncontrolling Interests
Income From Equity Method Investment And Income Attributable To Noncontrolling Interests
Noncontrolling interests / equity earnings adjustment
Segment Reporting Information, Corporate Expenses
Segment Reporting Information Corporate Expenses
Corporate items, net
Segment Reporting Information, Restructuring and Other Charges
Segment Reporting Information, Restructuring and Other Charges
Restructuring and other charges
Cash flow statement add back for the net realized gain or loss on investments sold during the period, which, for cash flow reporting, is a component of proceeds from investing activities as well as the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.
Gain Loss On Sale Of Investments And Impairment Charges
Net gains (losses) on sales and impairments of businesses
Specialty Businesses And Other [Member]
Specialty Businesses and Other [Member]
Corporate and Other [Member]
Corporate and Other [Member]
Total Operating Segments [Member]
Total Operating Segments [Member]
Segment Information by Services [Axis]
Segment Information by Services [Axis]
Segment Information by Services [Domain]
Segment Information by Services [Domain]
External Sales Revenue, Major Product [Member]
External Sales Revenue, Major Product [Member]
Europe [Member]
Europe [Member]
Asia Pacific [Member]
Asia Pacific [Member]
Other Americas [Member]
Americas, other than the U.S. [Member]
Long-Lived Assets
Assets, Noncurrent, Total
Segment Reporting Information, Unaffiliated Revenue
Segment Reporting Information Unaffiliated Revenue
Export sales to unaffiliated customers
Amount of cash payments received under earn-out provision.
Cash Received Under Earn Out Provision
Cash received under earn-out provision
Gross margin
Gross Profit, Total
Dividends per share of common stock
Stock Price During Period [Abstract]
Stock Price During Period Abstract
Common stock prices
Stock Price, Upper Limit, During the Period
Stock Price Upper Limit During Period
High
Stock Price, Lower Limit, During the Period
Stock Price Lower Limit During Period
Low
Overhead Reduction Program 2008 [Member]
Overhead Reduction Program 2008 [Member]
Inverurie Mill, Scotland [Member]
Inverurie Mill, Scotland [Member]
Albany, OR [Member]
Albany, OR [Member]
Pineville, Louisiana, Containerboard Mill [Member]
Pineville, Louisiana, Containerboard Mill [Member]
Valliant, Oklahoma, Containerboard Mill [Member]
Valliant, Oklahoma, Containerboard Mill - Paper Machine Shutdown Costs [Member]
Xpedx [Member]
Xpedx [Member]
Louisiana [Member]
Louisiana [Member]
Alternative Fuel Mixture Credits Gain
Alternative Fuel Mixture Credits Gain
Gain pre tax, related to alternative fuel mixture credits
Alternative Fuel Mixture Credits Gain Net of Tax
Alternative Fuel Mixture Credits Gain Net Of Tax
Gain after taxes, related to alternative fuel mixture credits
Pre-tax charge to write down the assets to estimated fair value
Asset Impairment Charges, Total
Asset Impairment Charges, Net Of Tax
Asset Impairment Charges Net Of Tax
After taxes charges to write down the assets to estimated fair value
Charges, pretax
Charges Pretax
Charge, pre-tax for integration costs
Charges, net
Charges
Charge, after taxes for integration costs
After tax charges for Incentive Compensation
After tax charges for Incentive Compensation
Incentive compensation, after-tax charges
Income Tax Reconciliation, Other Adjustments
Postretirement prescription drug coverage, tax adjustments
Restructuring and other related charges environmental closure costs, net of tax
Restructuring and other related charges environmental closure costs, net of tax
Environmental charges, net of tax
Valuation Allowances and Reserves Type [Axis]
Valuation Allowances and Reserves [Domain]
Doubtful accounts - current [Member]
Restructuring reserves [Member]
Valuation Allowances and Reserves, Balance
Balance at End of Period
Balance at Beginning of Period
Valuation Allowances And Reserves, Charged To Earnings
Valuation Allowances And Reserves Charged To Earnings
Additions Charged to Earnings
Additions Charged to Other Accounts
Valuation Allowances and Reserves, Charged to Other Accounts, Total
Deductions from Reserves
Valuation Allowances and Reserves, Deductions, Total
Franklin, Virginia, Mill [Member]
Franklin, Virginia, Mill [Member]
Shorewood Packaging [Member]
Shorewood Packaging [Member]
Albany Oregon Containerboard Mill Closure Costs [Member]
Albany, Oregon, Containerboard Mill - Closure Costs [Member]
Bastrop, Louisiana Mill [Member]
Bastrop, Louisiana Mill [Member]
Bellevue, Washington, container facility [Member]
Bellevue, Washington, container facility [Member]
Spartanburg, South Carolina, container facility [Member]
Spartanburg, South Carolina, container facility [Member]
Asian box plants [Member]
Asian Box Plants [Member]
Customer Relationships [Member]
Arizona Chemical [Member]
Arizona Chemical [Member]
Accounts, Notes, Loans and Financing Receivable by Industry of Counterparty, Type [Axis]
Industry of Counterparty [Domain]
Trade [Member]
Other [Member]
France [Member]
France [Member]
Bellevue, Washington and Spartanburg, South Carolina [Member]
Bellevue, Washington and Spartanburg, South Carolina [Member]
S&A Reduction Initiative [Member]
S&A reduction Initiative [Member]
EX-101.PRE
16
ip-20101231_pre.xml
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<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 12 DEBT AND LINES OF CREDIT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In November 2010, International Paper repaid approximately $<font class="_mt">54</font> million of notes with interest rates ranging from 7.3% to 9.375% and original maturities from 2018 to 2039. Pre-tax early debt retirement costs of $<font class="_mt">13</font> million related to these debt payments are included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended September 30, 2010, International Paper repaid approximately $<font class="_mt">111</font> million of notes with interest rates ranging from 5.375% to 6.8% and original maturities from 2016 to 2024. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In May 2010, International Paper repaid approximately $<font class="_mt">108</font> million of notes with interest rates ranging from 5.3% to 9.375% and original maturities from 2015 to 2019. Pre-tax early debt retirement costs of $<font class="_mt">21</font> million related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations (offset by a $<font class="_mt">3</font> million gain on associated interest rate swaps as discussed in Note 13). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended March 31, 2010, International Paper repaid approximately $<font class="_mt">120</font> million of notes with interest rates ranging from 5.25% to 7.4% and original maturities from 2010 to 2027. Pre-tax early debt retirement costs of $<font class="_mt">5</font> million related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations (offset by a $<font class="_mt">1</font> million gain on associated interest rate swaps as discussed in Note 13). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In December 2009, International Paper issued $<font class="_mt">750</font> million of 7.3% senior unsecured notes with a maturity date in November 2039. The proceeds from this borrowing, along with available cash, were used to repay the remaining $<font class="_mt">1</font> billion of the $<font class="_mt">2.5</font> billion long-term debt issued in connection with the CBPR business acquisition. During 2009, additional repayments related to this debt totaled approximately $<font class="_mt">1.4</font> billion. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Also in December 2009, International Paper Investments (Luxembourg) S.a.r.l., a wholly-owned subsidiary of International Paper, repaid $<font class="_mt">214</font> million of notes with an interest rate of LIBOR plus a margin of <font class="_mt">40</font> basis points and an original maturity in 2010. Other debt activity during the three months ended December 31, 2009 included the repayment of approximately $<font class="_mt">235</font> million of notes with interest rates ranging from 4.0% to 9.375% and original maturities from 2009 to 2038. Pre-tax early debt retirement costs of $<font class="_mt">36</font> million related to these debt repayments during the three months ended December 31, 2009 are included in Restructuring and other charges in the accompanying consolidated statement of operations. &l
t;/font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In August 2009, International Paper issued $<font class="_mt">1</font> billion of 7.5% senior unsecured notes with a maturity date in August 2021. The proceeds from this borrowing were used to repay approximately $<font class="_mt">942</font> million of notes with interest rates ranging from 5.125% to 7.4% and original maturities from 2012 to 2026. Pre-tax early debt retirement costs of $<font class="_mt">118</font> million related to these debt repayments are included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In May 2009, International Paper issued $<font class="_mt">1</font> billion of 9.375% senior unsecured notes with a maturity date in May 2019. The proceeds from this borrowing were used to repay approximately $<font class="_mt">875</font> million of notes with interest rates ranging from 4.0% to 9.25% and original maturities from 2010 to 2012. Also in April 2009, International Paper Company Europe Ltd, a wholly-owned subsidiary of International Paper, repaid $<font class="_mt">75</font> million of notes issued in connection with the Ilim Holding S.A. joint venture that had matured. Pre-tax early debt retirement costs of $<font class="_mt">46</font> million related to debt repayments during the three months ended June 30, 2009 are included in Restructuring and other charges in the accompanying consolidated statement of oper
ations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In March 2009, Luxembourg borrowed $<font class="_mt">468</font> million of long-term debt with an initial interest rate of LIBOR plus a margin of <font class="_mt">450</font> basis points that varied depending upon the credit rating of the Company, and a maturity date in March 2012. International Paper used the $<font class="_mt">468</font> million of proceeds from the loan and cash of approximately $<font class="_mt">170</font> million to repay its <font class="_mt">500</font> million euro-denominated debt (equivalent to $<font class="_mt">638</font> million at date of payment) with an original maturity date in August 2009. As of September 30, 2009, the $<font class="_mt">468</font> million loan was repaid. Other debt activity during the three months ended Ma
rch 31, 2009 included the repayment of approximately $<font class="_mt">366</font> million of notes with interest rates ranging from 4.25% to 5.0% that had matured. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A summary of long-term debt follows: </font></p></div>
<div class="MetaData">
<div class="MetaData">
<div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">8.7% to 10% notes - due 2038</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>274</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">280</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">9 3/8% note - due 2019</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>907</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">939</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">9.25% debentures - due 2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.95% debentures - due 2018</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,561</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,653</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.5% notes - due 2021</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>999</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.4% debentures - due 2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>303</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">309</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">7.3% notes - due 2039</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>725</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">748</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6 7/8% notes - due 2023 - 2029</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>130</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">130</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6.65% to 6.75% notes - due 2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">6.4% to 7.75% debentures due 2025 - 2027</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>141</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">5.85% notes - due 2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">5.25% to 5.5% notes - due 2014 - 2016</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>701</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">732</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Floating rate notes - due 2011 - 2016 (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>593</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">637</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Environmental and industrial development bonds - due 2011 - 2034 (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,892</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,992</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Short-term notes (c)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>210</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">224</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other (d)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>152</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">149</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total (e)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,671</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,033</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: current maturities</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>313</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">304</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Long-term debt</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,358</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,729</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate on these notes was <font class="_mt">1.5</font>% in 2010 and <font class="_mt">2.0</font>% in 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate on these bonds was <font class="_mt">5.6</font>% in 2010 and 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The weighted average interest rate was <font class="_mt">3.2</font>% in 2010 and <font class="_mt">4.1</font>% in 2009. Includes $<font class="_mt">146</font> million at December 31, 2010 and $<font class="_mt">161</font> million at December 31, 2009 related to non-U.S. denominated borrowings with a weighted average interest rate of <font class="_mt">4.3</font>% in 2010 and <font class="_mt">4.8</font>% in 2009. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes an unamortized gain of $<font class="_mt">8</font> million at December 31, 2010 and a loss of $<font class="_mt">18</font> million at December 31, 2009, related to interest rate swaps treated as fair value hedges. Also includes $<font class="_mt">70</font> million at December 31, 2010 and $<font class="_mt">80</font> million at December 31, 2009, related to the unamortized gain on interest rate swap unwinds (see Note 13). </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The fair market value was approximately $<font class="_mt">9.7</font> billion at December 31, 2010 and December 31, 2009. </i></font></p></td></tr></table></div></div></div>
<div class="MetaData"> </div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In addition to the long-term debt obligations shown above, International Paper has $<font class="_mt">5.7</font> billion of debt obligations payable to non-consolidated variable interest entities having principal payments of $<font class="_mt">542</font> million due 2011 and $<font class="_mt">5.1</font> billion due in 2016, for which International Paper has, and intends to affect, a legal right to offset these obligations with Class B interests held in the entities. Accordingly, in the accompanying consolidated balance sheet, International Paper has offset the $5.7 billion of debt obligations with $<font class="_mt">5.7</font> billion of Class B interests in these entities as of December 31, 2010 (see Note 11). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Total maturities of long-term debt over the next five years are 2011 – $<font class="_mt">313</font> million; 2012 – $<font class="_mt">324</font> million; 2013 – $<font class="_mt">135</font> million; 2014 - $<font class="_mt">559</font> million; and 2015 – $<font class="_mt">786</font> million. At December 31, 2010 and 2009, International Paper classified $<font class="_mt">100</font> million and $<font class="_mt">450</font> million, respectively, of current maturities of long-term debt as Long-term debt. International Paper has the intent and ability to renew or convert these obligations, as evidenced by the available bank credit agreements described below. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, International Paper's contractually committed credit facilities (the Agreements) totaled $<font class="_mt">2.5</font> billion. The Agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon International Paper's credit rating. The Agreements include a $<font class="_mt">1.5</font> billion contractually committed bank facility that expires in November 2012 and has a facility fee of <font class="_mt">0.50</font>% payable quarterly. The Agreements also include up to $<font class="_mt">1.0</font> billion of commercial paper-based financings based on eligible receivables balances ($<font class="_mt">877</font> million available as of December 31, 2010) under a receivables securitization program. On January 12, 2011, th
e Company amended the receivables securitization programs to extend the maturity date from January 2011 to January 2012. The amended agreement has a facility fee of <font class="_mt">0.40</font>% payable monthly. At December 31, 2010, there were no borrowings under either the bank facility or receivables securitization program. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Maintaining an investment grade credit rating is an important element of International Paper's financing strategy. At December 31, 2010, the Company held long-term credit ratings of BBB (stable outlook) and Baa3 (stable outlook) by S&P and Moody's, respectively.</font></p> </div> NOTE 12 DEBT AND LINES OF CREDIT
In November 2010, International Paper repaid approximately $54 million of notes with interest rates ranging from 7.3% to false false false false false | Other us-types:textBlockItemType string Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of asset
s and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19, 20, 22
-Article 5
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
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USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 true 0 us-gaap_QuarterlyFinancialDataAbstractus-gaap true na duration No definition available. false false false false false false false false false false 1 false false false 0 0 false falsefalse false false | Other xbrli:stringItemType string No definition available. false false Interim Financial Results (Unaudited)
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<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><a name="rom40096_51"> </a>INTERIM FINANCIAL RESULTS (UNAUDITED) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts and stock prices</i></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">st</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">nd</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">rd</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">4</font><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">th</sup></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Quarter</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Year</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2010</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Net sales</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>5,807</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,121</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,720</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,531</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>25,179</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Gross margin (a)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,343</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,631</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,962</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1,761</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>6,697</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(175</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>118</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>547</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>332</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>822</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b,d,e) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Net earnings (loss) attributable to International Paper Company</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(162</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>93</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>397</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>316</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>644</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Basic earnings (loss) per share attributable to International Paper Company common shareholders</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(0.38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.22</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.92</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.74</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Diluted earnings (loss) per share attributable to International Paper Company common shareholders</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(0.38</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>)(b,c) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.91</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.73</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(e,f) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>1.48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(b-f) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Dividends per share of common stock</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.025</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.125</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0.400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Common stock prices</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>High</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>28.61</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>29.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>25.79</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>27.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>29.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Low</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>21.66</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>20.50</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>19.33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>21.44</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>19.33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td>
<td height="16" colspan="4"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2">2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Net sales</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,668</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,802</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,919</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">5,977</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">23,366</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Gross margin (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1,937</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,021</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,161</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">2,027</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">8,146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings (loss) from continuing operations before income taxes and</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">equity earnings</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">518</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">520</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">589</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(428</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1,199</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g,h,j,k) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Net earnings (loss) attributable to International Paper Company</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">371</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(101</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Basic earnings (loss) per share attributable to International Paper Company common shareholders</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.61</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(0.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1.56</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Diluted earnings (loss) per share attributable to International Paper Company common shareholders</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.61</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(h,i) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(j) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(0.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">)(k,l) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">1.55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(g-l) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Dividends per share of common stock</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.025</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0.325</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Common stock prices</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2">High</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">12.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">15.96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">25.30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">27.79</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">27.79</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1.33em; margin-left: 2.67em;"><font style="font-family: ARIAL;" class="_mt" size="2">Low</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3.93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">6.80</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">13.82</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">20.38</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">3.93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>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. </i></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Footnotes to Interim Financial Results </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(a)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(b)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $204 million ($124 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $190 million of accelerated depreciation), a pre-tax charge of $4 million ($2 million after taxes) for early debt extinguishment costs, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations and charges of $4 million, before and after taxes, for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(c)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes after-tax charges of $14 million and $32 million for tax adjustments related to incentive compensation and postretirement prescription drug coverage, respectively. </font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(d)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $111 million ($68 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $46 million of accelerated depreciation and $36 million of environmental closure costs), a pre-tax charge of $18 million ($11 million after taxes) for early debt extinguishment costs, a pre-tax charge of $11 million ($7 million after taxes) for an Ohio Commercial Activity tax adjustment and charges of $4 million ($2 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(e)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax charge of $18 million ($11 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $12 million ($7 million after taxes) for closure costs related to the Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $13 million ($8 million after taxes) for early debt extinguishment costs, a pre-tax charge of $5 million ($3 million after taxes) for severance and benefit costs associated with the Company's S&A reduction initiative, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the shutdown of three box plants in Asia, a pre-tax gain of $25 million ($15 million after taxes) related to the partial redemption of the Company's inte
rest in Arizona Chemical, a charge of $2 million, before and after taxes, for asset impairment costs associated with the Inverurie, Scotland mill which was closed in 2009 and a net pre-tax gain of $2 million ($1 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(f)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a tax benefit of $40 million related to cellulosic bio-fuel tax credits. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(g)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $540 million ($330 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $36 million ($22 million after taxes) for integration costs associated with the Containerboard, Packaging and Recycling business (CBPR) acquired in August 2008, a pre-tax charge of $52 million ($32 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $23 million ($28 million after taxes) for closure costs associated with the Inverurie, Scotland mill, a pre-tax charge of $6 million ($4 million after taxes) for shutdown costs associated with the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center, and a pre-tax charge of $2 million ($1 million after taxes) for shutdown costs associated with the reorganization of the Company's Shorewood operations. </font></p>
</td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(h)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $482 million ($294 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $34 million ($21 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $25 million ($16 million after taxes) for early debt extinguishment costs, a charge of $15 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $48 million, before and after taxes, to write down the assets of the Etienne mill to estimated fair value and a pre-tax charge of $5 million ($3 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(i)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a $156 million tax expense for the write-off of deferred tax assets in France and a $26 million tax benefit related to the settlement of the 2004 and 2005 U.S. federal income tax audit and related income tax effects. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="27" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(j)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $525 million ($320 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $39 million ($24 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $102 million ($62 million after taxes) for early debt extinguishment costs, a charge of $7 million, before and after taxes, for costs associated with the planned closure of the Etienne mill in France, and a pre-tax charge of $3 million ($2 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="4%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(k)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a pre-tax gain of $516 million ($469 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $15 million ($10 million after taxes) for integration costs associated with the CBPR acquisition, pre-tax charges of $469 million ($286 million after taxes), $290 million ($177 million after taxes) and $102 million ($62 million after taxes) for shutdown costs for the Albany, Oregon, Franklin, Virginia, and Pineville, Louisiana mills, respectively, a pre-tax charge of $82 million ($50 million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $23 million ($15 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $58 million ($35 million after taxes) for early debt extinguishment costs, a charge of $9 million, before and after taxes, for seve
rance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $8 million to write down the assets at the Etienne mill to estimated fair value, pre-tax charges of $5 million ($3 million after taxes) and $2 million ($1 million after taxes) for costs associated with the reorganization of the Company's xpedx and Shorewood operations, respectively, and a pre-tax charge of $3 million ($0 million after taxes) for other items. </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="4%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">(l)</font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Includes a $15 million write-off of a deferred tax asset for a recycling tax credit in the state of Louisiana. </font></p></td></tr></table> </div> INTERIM FINANCIAL RESULTS (UNAUDITED)
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12/31/2010
USD ($)
$ As_Of_12_31_20106 http://www.sec.gov/CIK 0000051434 instant 2010-12-31T00:00:00 0001-01-01T00:00:00 false false United States Pension Plans of US Entity, Defined Benefit [Member] us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis xbrldi http://xbrl.org/2006/xbrldi us-gaap_UnitedStatesPensionPlansOfUSEntityDefinedBenefitMember us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis explicitMember Unit12Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 false false USD true false {us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis} : United States Pension Pl
ans of US Entity, Defined Benefit [Member]
12/31/2009
USD ($)
$ As_Of_12_31_20093 http://www.sec.gov/CIK 0000051434 instant 2009-12-31T00:00:00 0001-01-01T00:00:00 false false United States Pension Plans of US Entity, Defined Benefit [Member] us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis xbrldi http://xbrl.org/2006/xbrldi us-gaap_UnitedStatesPensionPlansOfUSEntityDefinedBenefitMember us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis explicitMember Unit13Standard http://www.xbrl.org/2003/instance pure xbrli 0 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false United States Pen
sion Plans of US Entity, Defined Benefit [Member]
2 false 0 us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate us-gaap true na instant No definition available. false false false false false false false false false false verboselabel 1 true true false0.056 0.056 false false false false false | 2 true true false 0.058 0.058 false false false false false | Other us-types:percentItemTypepure The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 5
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3 false 0 us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease us-gaap true na instant No definition available. false false false false false false false false false false verboselabel 1 truetrue false 0.0375 0.0375 false false false false false | 2 true true false 0.0375 0.0375 false false false false false | <
OriginalInstanceReportColumns />Other us-types:percentItemType pure Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-Paragraph 5
-Subparagraph j
false false Rate of compensation increase
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/Cells>3 false false USD true false {us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis} : Foreign Pension Plans, Defined Benefit [Member]
12/31/2010
USD ($)
$ As_Of_12_31_20105 http://www.sec.gov/CIK 0000051434 instant 2010-12-31T00:00:00 0001-01-01T00:00:00 false false Foreign Pension Plans, Defined Benefit [Member] us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis xbrldi http://xbrl.org/2006/xbrldi us-gaap_ForeignPensionPlansDefinedBenefitMember us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 4 false false USD true false {us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPl
ansAxis} : Foreign Pension Plans, Defined Benefit [Member]
12/31/2009
USD ($)
$ As_Of_12_31_20092 http://www.sec.gov/CIK 0000051434 instant 2009-12-31T00:00:00 0001-01-01T00:00:00 false false Foreign Pension Plans, Defined Benefit [Member] us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis xbrldi http://xbrl.org/2006/xbrldi us-gaap_ForeignPensionPlansDefinedBenefitMember us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ Other na No definition available. No authoritative reference available. false fa
lse Foreign Pension Plans, Defined Benefit [Member]
5 false 0 us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate us-gaap true na instant No definition available. false false false false false false false false false false verboselabel 1 true truefalse 0.0601 0.0601 false false false false false | 2 true true false 0.0645 0.0645 false false false false false | Other
us-types:percentItemType pure The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Subparagraph j
false false Discount rate
6 false 0 us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease us-gaap true na instant No definition available. false false false false false false false false false false verboselabel 1 truetrue false 0.0307 0.0307 false false false false false | 2 true true false 0.0406 0.0406 false false false false false | <
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2 6 Retirement Plans (Weighted Average Assumptions Used to Determine the Benefit Obligation) (Details) UnKnown UnKnown UnKnown UnKnown true true
XML
30
R35.xml
IDEA: Income Taxes (Tables)
2.2.0.25 false false 30903 - Disclosure - Income Taxes (Tables) true false false 1 false false USD false false 1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 true 0 us-gaap_IncomeTaxExpenseBenefitAbstract
ElementName>us-gaap true na duration No definition available. false false false false false false false false false false 1 false false false 0 0 false falsefalse false false | Other xbrli:stringItemType string No definition available. false false Income Taxes
3 false 0 ip_ScheduleOfUsAndNonUsComponentsOfIncomeBeforeIncomeTaxExpenseBenefitAndEquityEarningsTableTextBlock ip false na duration Schedule of US and Non-US Components of Income Before Income Tax Expense Benefit and Equity Earnings [Table Text Block] false falsefalse false false false false false false false terselabel 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S.</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>198</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">905</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,365</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>624</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">294</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">212</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div> In millions
2010
2009
2008
Earnings (loss)
false false false false false | Other us-types:textBlockItemType string Schedule of US and Non-US Components of Income Before Income Tax Expense Benefit and Equity Earnings [Table Text Block] No authoritative reference available. false false Schedule of U.S. and Non-U.S. Components of Income Before Income Tax Expense/ (Benefit) and equity earnings
4 false 0 ip_ScheduleOfComponentsOfProvisionBenefitForIncomeTaxes
TextBlock ip false na duration Schedule of Components of Provision (Benefit) for Income Taxes [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpa
dding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current tax provision (benefit)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(249</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">228</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">159</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. state and local</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>67</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">86</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(201</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">309</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">243</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax provision (benefit)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>301</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(63</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. state and local</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">41</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>76</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">182</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(39</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>422</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">160</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(81</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>221</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div> In millions
2010
2009
2008
Current tax provision (benefit)
false false false false false | Other us-types:textBlockItemType string Schedule of Components of Provision (Benefit) for Income Taxes [Text Block] No authoritative reference available. false false Schedule of Components of Provision (Benefit) for Income Taxes by Taxing Jurisdiction
5 false 0 ip_ReconciliationOfIncomeTaxExpenseComputedUsingTheUSStatutoryFederalTaxRateTextBlock ipfalse na duration Reconciliation of Income Tax Expense Computed Using The US Statutory Federal Tax Rate [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%"
align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations before income taxes and equity earnings</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Statutory U.S. income tax rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax expense (benefit) using statutory U.S. income tax rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>288</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">420</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(404</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State and local income taxes</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax rate and permanent differences on non-U.S. earnings</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(69</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net U.S. tax on non-U.S. dividends</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>16</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax benefit on export sales and manufacturing activities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-deductible business expenses</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Sales of non-strategic assets and goodwill impairments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">622</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Retirement plan dividends</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative fuel mixture credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(133</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cellulosic bio-fuel credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(40</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Medicare subsidy</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>29</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax audits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other, net</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>221</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Effective income tax rate</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">)% </font></td></tr></table> </div> In millions
2010
2009
2008
Earnings (loss) from continuing operations before income taxes and equity false false false false false | Other us-types:textBlockItemType string Reconciliation of Income Tax Expense Computed Using The US Statutory Federal Tax Rate [Text Block] No authoritative reference available. false false Reconciliation of Income Tax Expense Computed Using the US Statutory Federal Tax Rate
6 false 0 ip_ComponentsOfDeferredTa
xAssetsAndLiabilitiesTextBlock ip false na duration Components of Deferred Tax Assets and Liabilities [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div> <table border="0" cellspacing="0
" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Postretirement benefit accruals</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>256</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">301</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pension obligations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>616</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,104</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative minimum and other tax credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>416</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">192</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net operating loss carryforwards</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Compensation reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>185</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">238</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>268</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">265</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross deferred tax assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,282</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,634</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: valuation allowance</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(366</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(346</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net deferred tax assets</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,916</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,288</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax liabilities:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,099</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forestlands and related installment sales</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,061</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,045</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross deferred tax liabilities</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4,235</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4,144</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net deferred tax liability</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,319</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,856</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div> In millions
2010
2009
Deferred tax assets:
Postretirement benefit false false false false false | Other us-types:textBlockItemType string Components of Deferred Tax Assets and Liabilities [Text Block] No authoritative reference available. false false Components of Deferred Tax Assets and Liabilities
7 false 0 ip_UnrecognizedTaxBenefitsReconciliationTableTextBlock ip false naduration Unrecognized Tax Benefits Reconciliation, Table [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance at January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(308</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(435</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(794</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions based on tax positions related to current year</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions for tax positions of prior years</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Reductions for tax positions of prior years</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>97</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">72</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">352</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expiration of statutes of limitations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Currency translation adjustment</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(11</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance at December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(199</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(308</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(435</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div> In millions
2010
2009
2008
Balance at false false false false false | Other us-types:textBlockItemType string Unrecognized Tax Benefits Reconciliation, Table [Text Block] No authoritative reference available. false false Unrecognized Tax Benefits Reconciliation, Table
8 false 0 ip_ComponentsOfNetProvisionsRelatedToSpecialItemsTextBlock ip false naduration Components of Net Provisions Related to Special Items [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special items and other charges:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and other charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(159</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Alternative fuel mixture credit</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Redemption of Arizona Chemical interest</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax-related adjustments:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Incentive plan deferred tax write-off</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Medicare D deferred tax write-off</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>32</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valuation allowance for net deferred tax assets in France</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">156</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlement of federal tax audits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valuation allowance for Louisiana recycling credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring of international operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Impairment of certain non-U.S. assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cellulosic bio-fuel credits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(40</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tax on Ilim joint venture gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other tax adjustments</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income tax provision (benefit) related to special items</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(143</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">279</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(207</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table> </div> In millions
2010
2009
2008
Special items and other charges:
false false false false false | Other us-types:textBlockItemType string Components of Net Provisions Related to Special Items [Text Block] No authoritative reference available. false false Components of Net Provisions Related to Special Items
9 false 0 us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock us-gaap true naduration No definition available. false false false false false false false false false false 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Through</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2020</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2021</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Through</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2030</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Indefinite</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal and non-U.S. NOLs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">344</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">371</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State taxing jurisdiction NOLs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">106</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">135</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">241</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. federal, non- U.S. and state tax credit carryforwards</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">State capital loss carryforwards</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>202</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>168</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>743</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,113</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table> </div> In millions
2011
Through
2020
2021
Through
2030
Indefinite
Total
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USD ($)
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XML
32
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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10 false 0 us-gaap_DefinedBenefitPlanCurtailments us-gaaptrue debit duration No definition available. false false false false false false false false false true negated 1 false false false 0 0 false falsefalse false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false falsefalse true false | 4 false false false 0 0 false false false true false | 5 false false false 0 0 false falsefalse true false | 6 true false false 0 0 false false false true false | 7 true false false 4000000 4 false f
alse false true false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false falsefalse true false | Monetary xbrli:monetaryItemType monetary The amount of decrease that is related to an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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11 false 0 us-gaap_DefinedBenefitPlanSpecialTerminationBenefits us-gaap true credit duration No definition available. false false false false false false false false false false 1 false false fa
lse 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false
DisplayZeroAsNone>0 0 false false false true false | 4 true false false 2800000 2.8 false false false true false | 5 true false false500000 0.5 false false false true false | 6 true false false 0 0 false false false true false | 7 true false false3000000 3.0 false false false true false | 8 false false false 0 0 false false false true false | 9 false false false0 0 false false false true false | Monetary xbrli:monetaryItemType monetary The amount of increase related to special termination benefits offered to and accepted by employees in connection with their termination of employment that are only offered for a short period of time. A situation involving termination benefits may also involve a curtailment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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false false Special termination benefits
12 false 0 us-gaap_DefinedBenefitPlanPlanAmendments us-gaap true credit duration No definition available. false false false false false false false false false false 1 false false false0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false fal
se 0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false false false0 0 false false false true false | 6 true false false 0 0 false false false true false | 7 true false false-40000000 -40 false false false true false | 8 false false false 0 0 false false false true false | 9 false false false0 0 false false false true false | Monetary xbrli:monetaryItemType monetary The amount of increase or decrease due to a change in the terms of an existing plan or the initiation of a new plan. A plan amendment may increase or decrease benefits, including those attributed to years of service already rendered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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false false Plan amendments
13 false 0 us-gaap_DefinedBenefitPlanBenefitObligation us-gaap true credit instant No definition available. false false false false false false false false true false periodendlabel 1 false falsefalse 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false <
DisplayZeroAsNone>false0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false false false0 0 false false false true false | 6 true false false 425000000 425 false false false true false | 7 true false false473000000 473 false false false true false | 8 false false false 0 0 false false false true false | 9 false false false0 0 false false false true false | Monetary xbrli:monetaryItemType monetary 1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. The projected benefit obligation is measured using assumptions as to future compensation levels if the pension benefit formula is based on those future c
ompensation levels (pay-related, final-pay, final-average-pay, or career-average-pay plans). For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Prior to an employee's full eligibility date, the accumulated postretirement benefit obligation as of a particular date for an employee is the portion of the expected postretirement benefit obligation attributed to that employee's service rendered to that date; on and after the full eligibility date, the accumulated and expected postretirement benefit obligations for an employee are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false falsefalse 0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false false false0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 false false false0 0 false false false true false | 8 false false false 0 0 false false false true false | 9 false false false0 0 false false false true false | Other xbrli:stringItemType string A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. false false Change in plan assets:
15 false 0 us-gaap_DefinedBenefitPlanFairValueOfPlanAssets us-gaap true debit instant No definition available. false false false false false false false true false false periodstartlabel 1 false false false 0 0 false falsefalse false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false falsefalse true false | 4 false false false 0 0 false false false true false | 5 false false false 0 0 false false falsetrue false | 6 false false false 0 0 false false false true false | 7 false false false 0 0 false false falsetrue false | 8 true false false 0 0 false false false true false | 9 true false false 0 0 false false falsetrue false | Monetary xbrli:monetaryItemType monetary Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those nonbenefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph d(iv)(b)(i)
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-Name Statement of Financial Accounting Standard (FAS)
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false false Fair value of plan assets, Beginning Balance
16 false 0 us-gaap_DefinedBenefitPlanContributionsByEmployer us-gaap true debit duration No definition available. false false false false false false false false false false 1 false falsefalse 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false falsefalse 0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false false false0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 false false false0 0 false false false true false | 8 true false false 62000000 62 false false false true false | 9 true false false67000000 67 false false false true false | Monetary xbrli:monetaryItemType monetary The amount of contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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false false Company contributions
17 false 0 ip_DefinedBenefitPlanFundedStatusOfPlanContributions ip false debit instant Defined Benefit Plan, Funded Status of Plan, Contributions false false false false false false false false false false verboselabel 1 falsefalse false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false<
/IsNumeric>false false 0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 falsefalse false 0 0 false false false true false | 8 true false false 48000000 48 false false false true false | 9 truefalse false 47000000 47 false false false true false | Monetary xbrli:monetaryItemType monetary Defined Benefit Plan, Funded Status of Plan, Contributions No authoritative reference available. false false Participants' contributions
18 false 0 ip_DefinedBenefitP
lanFairValueOfPlanAssetsBenefitsPaid ip false debit duration Defined Benefit Plan, Fair Value of Plan Assets, Benefits Paid false false false false false false false false false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false false false 0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 false false false 0 0 false false false true false | 8 true false false -110000000 -110 false false false true false | 9 true false false -114000000 -114 false false false true false | Monetary xbrli:monetaryItemType monetary Defined Benefit Plan, Fair Value of Plan Assets, Benefits Paid No authoritative reference available. false false Benefits paid
19 false 0 us-gaap_DefinedBenefitPlanFairValueOfPlanAssets us-gaap true debit instant No definition available.false false false false false false false false true false periodendlabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false false false 0 0 false false false true false | 6<
/Id>false false false 0 0 false false false true false | 7 false false false 0 0 false false false true false | 8 truefalse false 0 0 false false false true false | 9 true false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those nonbenefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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false false Fair value of plan assets, Ending Balance
20 false 0 us-gaap_DefinedBenefitPlanFundedStatusOfPlan us-gaap true debit instant No definition available. false false false false false false false false false false 1 false false false0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false false false0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 false false fa
lse 0 0 false false false true false | 8 true false false -425000000 -425 false false false true false | 9 true false false -473000000 -473 false false false true false | Monetary xbrli:monetaryItemType monetary The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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false false Funded status, Ending Balance
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DisplayZeroAsNone>false0 0 false false false true false | 4 false false false 0 0 false false false true false | 5 false false false0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 false false false0 0 false false false true false | 8 false false false 0 0 false false false true false | 9 false false fal
se 0 0 false false false true false | Other xbrli:stringItemType string No definition available. false false Amounts recognized in the consolidated balance sheet:
22 false 0 ip_OtherPostretirementDefinedBenefitPlanCurrentLiabilities ip false creditinstant For classified balance sheets this represents the current liability recognized in the balance sheet that is associated with... false false false false false false false false false true negated 1 false false false 0 0 falsefalse false false false | 2 false false false 0 0 false false false false false | 3 true false false -48000000 -48 falsefalse false true false | 4 true false false -46000000 -46 false false false true false | 5 false false false 0 0 falsefalse false true false | 6 false false false 0 0 false false false true false | 7 false false false 0 0 falsefalse false true false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary For classified balance sheets this represents the current liability recognized in the balance sheet that is associated with other postretirement defined benefit plans (excluding pension plans). (The current liability will be separate, but it will normally be small, if there is even any at all.) For unclassified balance sheets, this represents the entire liability recognized in the balance sheet that is associated with the plans. No authoritative reference available. false false Current liability
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph c
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IsRatio>falsefalse 0 0 false false false true false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary The aggregate net amount recognized in the balance sheet associated with the defined benefit plan(s). Will normally be the same as the Defined Benefit Plan, Funded Status of Plan, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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eforeTax us-gaap true debit instant No definition available. false false false false false false false false false false 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 true false false -60000000 -60 falsefalse false true false | 4 true false false -91000000 -91 false false false true false | 5 false false false 0 0 falsefalse false true false | 6 false false false 0 0 false false false true false | 7 false false false 0 0 false
false false true false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false falsefalse true false | Monetary xbrli:monetaryItemType monetary Amount related to the pretax cost of benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation, which has not yet been recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 158
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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27 false 0 us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax us-gaap true credit instant No definition available. false false false false false false false false false true negated 1
false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 true<
/IsNumeric>false false 66000000 66 false false false true false | 4 true false false 99000000 99 false false false true false | 5 falsefalse false 0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 false
false false 0 0 false false false true false | 8 false false false 0 0 false false false true false | 9 falsefalse false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary The pretax net amount of gains and losses that are not yet recognized as a component of net periodic benefit cost, and that are recognized as increases or decreases in other comprehensive income as they arise. Gains and losses are due to changes in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a
change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
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-Subparagraph i
Reference 2: http://www.xbrl.org/2003/role/presentationRef
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false false Net actuarial (gain) loss
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-Name Statement of Financial Accounting Standard (FAS)
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false false Defined Benefit Plan, Accumulated Other Comprehensive Income, before Tax, Total
9 27 Postretirement Benefits (Changes in Benefit Obligation, Plan Assets and the Plans Funded Status) (Details) (USD $) Millions UnKnown UnKnown UnKnown false true
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7/1/2010 - 9/30/2010
USD ($)
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al Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 6 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
4/1/2010 - 6/30/2010
USD ($)
$ Duration_4_1_2010_To_6_30_201022 http://www.sec.gov/CIK 0000051434 duration 2010-04-01T00:00:00 2010-06-30T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Industr
ial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 7 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2010 - 3/31/2010
USD ($)
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al Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 8 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010237 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Indus
trial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $
9 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_2009222223 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false I
ndustrial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 10 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
7/1/2009 - 9/30/2009
USD ($)
$ Duration_7_1_2009_To_9_30_2009225 http://www.sec.gov/CIK 0000051434 duration 2009-07-01T00:00:00 2009-09-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Indust
rial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 11 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
4/1/2009 - 6/30/2009
USD ($)
$ Duration_4_1_2009_To_6_30_20097 http://www.sec.gov/CIK 0000051434 duration 2009-04-01T00:00:00 2009-06-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Industri
al Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 12 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2009 - 3/31/2009
USD ($)
$ Duration_1_1_2009_To_3_31_20097 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-03-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Industri
al Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 13 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200934 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Indust
rial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ <
Column>14 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
10/1/2008 - 12/31/2008
USD ($)
$ Duration_10_1_2008_To_12_31_20084 http://www.sec.gov/CIK 0000051434 duration 2008-10-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Indust
rial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 15 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
7/1/2008 - 9/30/2008
USD ($)
$ Duration_7_1_2008_To_9_30_20084 http://www.sec.gov/CIK 0000051434 duration 2008-07-01T00:00:00 2008-09-30T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Industri
al Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 16 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
4/1/2008 - 6/30/2008
USD ($)
$ Duration_4_1_2008_To_6_30_20085 http://www.sec.gov/CIK 0000051434 duration 2008-04-01T00:00:00 2008-06-30T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Industri
al Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 17 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2008 - 3/31/2008
USD ($)
$ Duration_1_1_2008_To_3_31_20085 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-03-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Industri
al Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 18 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_2008225 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Indus
trial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $
19 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010216 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Industrial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.x
brl.org/2003/iso4217 USD iso4217 0 USD USD $ 20 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200915 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Industrial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xb
rl.org/2003/iso4217 USD iso4217 0 USD USD $ 21 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Industrial Packaging [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_200811 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Industrial Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IndustrialPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xb
rl.org/2003/iso4217 USD iso4217 0 USD USD $ 22 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_2010226 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Prin
ting Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 23<
/Id>false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
7/1/2010 - 9/30/2010
USD ($)
$ Duration_7_1_2010_To_9_30_20105 http://www.sec.gov/CIK 0000051434 duration 2010-07-01T00:00:00 2010-09-30T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Printing
Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 24
false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
4/1/2010 - 6/30/2010
USD ($)
$ Duration_4_1_2010_To_6_30_201032 http://www.sec.gov/CIK 0000051434 duration 2010-04-01T00:00:00 2010-06-30T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Printin
g Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 25 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2010 - 3/31/2010
USD ($)
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Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 26
false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010238 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Print
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/Id>false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_200932 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Print
ing Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 28
Id>false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
7/1/2009 - 9/30/2009
USD ($)
$ Duration_7_1_2009_To_9_30_2009226 http://www.sec.gov/CIK 0000051434 duration 2009-07-01T00:00:00 2009-09-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Printi
ng Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 29false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
4/1/2009 - 6/30/2009
USD ($)
$ Duration_4_1_2009_To_6_30_20098 http://www.sec.gov/CIK 0000051434 duration 2009-04-01T00:00:00 2009-06-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Printing
Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 30
false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2009 - 3/31/2009
USD ($)
$ Duration_1_1_2009_To_3_31_20098 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-03-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Printing
Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 31
false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200935 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Printi
ng Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 32
Id>false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
10/1/2008 - 12/31/2008
USD ($)
$ Duration_10_1_2008_To_12_31_20085 http://www.sec.gov/CIK 0000051434 duration 2008-10-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Printi
ng Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 33false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
7/1/2008 - 9/30/2008
USD ($)
$ Duration_7_1_2008_To_9_30_20082222 http://www.sec.gov/CIK 0000051434 duration 2008-07-01T00:00:00 2008-09-30T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Print
ing Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 34
Id>false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
4/1/2008 - 6/30/2008
USD ($)
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Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 35
false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2008 - 3/31/2008
USD ($)
$ Duration_1_1_2008_To_3_31_20086 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-03-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Printing
Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 36
false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_2008226 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Print
ing Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 37<
/Id>false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010217 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Printing Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/20
03/iso4217 USD iso4217 0 USD USD $ 38 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200916 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Printing Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/200
3/iso4217 USD iso4217 0 USD USD $ 39 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Printing Papers [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_200812 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Printing Papers [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_PrintingPapersMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/200
3/iso4217 USD iso4217 0 USD USD $ 40 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_2010223 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Cons
umer Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 41 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
7/1/2010 - 9/30/2010
USD ($)
$ Duration_7_1_2010_To_9_30_20102 http://www.sec.gov/CIK 0000051434 duration 2010-07-01T00:00:00 2010-09-30T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consumer
Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 42false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
4/1/2010 - 6/30/2010
USD ($)
$ Duration_4_1_2010_To_6_30_20104 http://www.sec.gov/CIK 0000051434 duration 2010-04-01T00:00:00 2010-06-30T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consumer
Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 43false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2010 - 3/31/2010
USD ($)
$ Duration_1_1_2010_To_3_31_20104 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-03-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consumer
Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 44false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010235 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consu
mer Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 45 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_200922222 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Co
nsumer Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 46 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
7/1/2009 - 9/30/2009
USD ($)
$ Duration_7_1_2009_To_9_30_2009222 http://www.sec.gov/CIK 0000051434 duration 2009-07-01T00:00:00 2009-09-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consum
er Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $
47 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
4/1/2009 - 6/30/2009
USD ($)
$ Duration_4_1_2009_To_6_30_20094 http://www.sec.gov/CIK 0000051434 duration 2009-04-01T00:00:00 2009-06-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consumer
Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 48false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2009 - 3/31/2009
USD ($)
$ Duration_1_1_2009_To_3_31_20094 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-03-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consumer
Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 49false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200931 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consum
er Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 50 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
10/1/2008 - 12/31/2008
USD ($)
$ Duration_10_1_2008_To_12_31_20082 http://www.sec.gov/CIK 0000051434 duration 2008-10-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consum
er Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $
51 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
7/1/2008 - 9/30/2008
USD ($)
$ Duration_7_1_2008_To_9_30_2008223 http://www.sec.gov/CIK 0000051434 duration 2008-07-01T00:00:00 2008-09-30T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consum
er Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $
52 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
4/1/2008 - 6/30/2008
USD ($)
$ Duration_4_1_2008_To_6_30_20083 http://www.sec.gov/CIK 0000051434 duration 2008-04-01T00:00:00 2008-06-30T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consumer
Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 53false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2008 - 3/31/2008
USD ($)
$ Duration_1_1_2008_To_3_31_20083 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-03-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consumer
Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 54false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_2008223 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Consu
mer Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 55 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010212 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Consumer Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.
org/2003/iso4217 USD iso4217 0 USD USD $ 56 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200911 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Consumer Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.o
rg/2003/iso4217 USD iso4217 0 USD USD $ 57 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Consumer Packaging [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_20087 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Consumer Packaging [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ConsumerPackagingMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.or
g/2003/iso4217 USD iso4217 0 USD USD $ 58 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Distribution [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_2009222222 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false D
istribution [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DistributionMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 59 <
IsAbstractGroupTitle>falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Distribution [Member]
7/1/2009 - 9/30/2009
USD ($)
$ Duration_7_1_2009_To_9_30_2009224 http://www.sec.gov/CIK 0000051434 duration 2009-07-01T00:00:00 2009-09-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Distri
bution [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DistributionMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 60 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Distribution [Member]
4/1/2009 - 6/30/2009
USD ($)
$ Duration_4_1_2009_To_6_30_20096 http://www.sec.gov/CIK 0000051434 duration 2009-04-01T00:00:00 2009-06-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Distribu
tion [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DistributionMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 61 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Distribution [Member]
1/1/2009 - 3/31/2009
USD ($)
$ Duration_1_1_2009_To_3_31_20096 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-03-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Distribu
tion [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DistributionMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 62 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Distribution [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200933 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Distri
bution [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DistributionMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 63 falsefalse USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Distribution [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010214 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Distribution [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DistributionMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/is
o4217 USD iso4217 0 USD USD $ 64 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Distribution [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200913 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Distribution [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DistributionMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso
4217 USD iso4217 0 USD USD $ 65 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Distribution [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_20089 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Distribution [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DistributionMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4
217 USD iso4217 0 USD USD $ 66 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
10/1/2010 - 12/31/2010
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
7/1/2010 - 9/30/2010
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
4/1/2010 - 6/30/2010
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2010 - 3/31/2010
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2010 - 12/31/2010
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
10/1/2009 - 12/31/2009
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
7/1/2009 - 9/30/2009
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
4/1/2009 - 6/30/2009
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2009 - 3/31/2009
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200932 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Corpor
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
10/1/2008 - 12/31/2008
USD ($)
$ Duration_10_1_2008_To_12_31_20083 http://www.sec.gov/CIK 0000051434 duration 2008-10-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Corpor
ate [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_CorporateMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 77 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
7/1/2008 - 9/30/2008
USD ($)
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{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
4/1/2008 - 6/30/2008
USD ($)
$ Duration_4_1_2008_To_6_30_20084 http://www.sec.gov/CIK 0000051434 duration 2008-04-01T00:00:00 2008-06-30T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Corporat
e [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_CorporateMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 79 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2008 - 3/31/2008
USD ($)
$ Duration_1_1_2008_To_3_31_20084 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-03-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Corporat
e [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_CorporateMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 80 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
{us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_2008224 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Corpo
rate [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_CorporateMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 81 falsefalse USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010213 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Corporate [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_CorporateMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217<
/MeasureSchema>USD iso4217 0 USD USD $ 82 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200912 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Corporate [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_CorporateMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217
MeasureSchema>USD iso4217 0 USD USD $ 83 false false USD true false {us-gaap_SegmentReportingInformationBySegmentAxis} : Corporate [Member]
1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_20088 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Corporate [Member] us-gaap_SegmentReportingInformationBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_CorporateMember us-gaap_SegmentReportingInformationBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217USD iso4217 0 USD USD $ 84 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2010 Plan [Member]
10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_2010222 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard h
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7/1/2010 - 9/30/2010
USD ($)
$ Duration_7_1_2010_To_9_30_2010 http://www.sec.gov/CIK 0000051434 duration 2010-07-01T00:00:00 2010-09-30T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http:/
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4/1/2010 - 6/30/2010
USD ($)
$ Duration_4_1_2010_To_6_30_20103 http://www.sec.gov/CIK 0000051434 duration 2010-04-01T00:00:00 2010-06-30T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http:
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1/1/2010 - 3/31/2010
USD ($)
$ Duration_1_1_2010_To_3_31_20103 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-03-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http:
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1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_201022 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Restructuring - Fiscal 2010 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2010PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard htt
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turing - Fiscal 2009 Plan [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_200923 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard ht
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7/1/2009 - 9/30/2009
USD ($)
$ Duration_7_1_2009_To_9_30_20093 http://www.sec.gov/CIK 0000051434 duration 2009-07-01T00:00:00 2009-09-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http:
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4/1/2009 - 6/30/2009
USD ($)
$ Duration_4_1_2009_To_6_30_200922 http://www.sec.gov/CIK 0000051434 duration 2009-04-01T00:00:00 2009-06-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http
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1/1/2009 - 3/31/2009
USD ($)
$ Duration_1_1_2009_To_3_31_20093 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-03-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http:
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1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200922 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard htt
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turing - Fiscal 2008 Plan [Member]
10/1/2008 - 12/31/2008
USD ($)
$ Duration_10_1_2008_To_12_31_2008 http://www.sec.gov/CIK 0000051434 duration 2008-10-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http
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7/1/2008 - 9/30/2008
USD ($)
$ Duration_7_1_2008_To_9_30_2008222 http://www.sec.gov/CIK 0000051434 duration 2008-07-01T00:00:00 2008-09-30T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard htt
p://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 96 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2008 Plan [Member]
4/1/2008 - 6/30/2008
USD ($)
$ Duration_4_1_2008_To_6_30_20082 http://www.sec.gov/CIK 0000051434 duration 2008-04-01T00:00:00 2008-06-30T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http:
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1/1/2008 - 3/31/2008
USD ($)
$ Duration_1_1_2008_To_3_31_20082 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-03-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit12 Standard http:
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1/1/2008 - 12/31/2008
USD ($)
$ Duration_1_1_2008_To_12_31_200813 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Restructuring - Fiscal 2008 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2008PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember Unit13 Standard htt
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at is infrequent in occurrence or unusual in nature. No authoritative reference available. false false Restructuring and other charges 1
Includes a gain of $2 million related to the shutdown of the Albany, Oregon mill; a $3 million charge to write down the value of land, $2 million of accelerated depreciation and $2 million of severance charges related to the closure of the Bellevue, Washington container facility; $1 million of accelerated depreciation, $2 million of severance charges and $2 million of other charges related to the closure of the Spartanburg, South Carolina container facility; and $2 million of severance charges and $1 million of other costs related to the closure of certain of the Company's Asian box plants. 2
Includes $3 million of severance charges related to the shutdown of the Etienne mill in France. 3
Includes $2 million of other charges related to the shutdown of the Pineville, Louisiana mill and $1 million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. 4
Includes $19 million of severance charges and $12 million of other charges related to the shutdown of the Etienne mill in France. 5
Includes $82 million of accelerated depreciation and other noncash charges, $9 million of severance charges, $10 million of environmental charges and $1 million of other charges related to the shutdown of the Pineville, Louisiana mill; $438 million of accelerated depreciation and other noncash charges, $21 million of severance charges and benefit costs, $9 million of environmental charges and $1 million of other charges related to the shutdown of the Albany, Oregon mill; and $81 million of accelerated depreciation and other noncash charges and $1 million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. 6
Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges related to the closure of the Ace Packaging business. 7
Includes $236 million of accelerated depreciation, $36 million of environmental closure costs, $30 million of severance charges and $13 million of other charges related to the shutdown of the Franklin, Virginia mill 8
Includes $199 million of accelerated depreciation and other noncash charges, $23 million of severance charges and $1 million of other charges related to the shutdown of the Franklin, Virginia mill. 9
Includes $5 million of severance charges and $3 million of other charges related to the shutdown of the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center and $3 million of charges related to the shutdown of the Bastrop, Louisiana mill. 10
Includes $17 million of severance charges and $6 million of other charges related to the shutdown of the Inverurie mill in Scotland. 11
Includes $71 million of accelerated depreciation charges, $32 million of severance charges, $11 million of environmental expenses, and $9 million of other charges related to the shutdown of the Bastrop, Louisiana mill, and $23 million of accelerated depreciation charges, $6 million of severance charges, and $1 million of other charges related to the shutdown of a paper machine at the Franklin, Virginia mill. 12
Includes $3 million of accelerated depreciation, $1 million of severance charges and $4 million of other charges related to the reorganization of the Company's Shorewood operations. 13
Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $3 million of other charges related to the reorganization of the Company's Shorewood operations. 14
Includes $59 million of accelerated depreciation charges and other noncash charges, $7 million of severance charges and $1 million of other charges related to the shutdown of the Franklin, Virginia mill. 15
Includes $22 million of severance charges, $7 million of accelerated depreciation charges and $1 million of other charges related to the reorganization of the Company's Shorewood operations. 98 1 Restructuring Charges and Other Items (Restructuring and Other Charges by Business) (Details) (USD $) Millions UnKnown UnKnown UnKnown false true
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1
The table does not include Continuity Award tandem stock options described below. No fair market value is assigned to these options under ASC 718. The tandem restricted shares accompanying these options are expensed over their vesting period. 2
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>NATURE OF BUSINESS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper (the Company) is a global paper and packaging company that is complemented by an extensive North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Substantially all of our businesses have experienced, and are likely to continue to experience, cycles relating to available industry capacity and general economic conditions.</font></p></div> </div> NATURE OF BUSINESS
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FINANCIAL STATEMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States that require the use of management's estimates. Actual results could differ from management's estimates. </font></p> </div> FINANCIAL STATEMENTS
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>CONSOLIDATION </b></font></p>
<div class="MetaData">
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The consolidated financial statements include the accounts of International Paper and its wholly-owned, controlled majority-owned and financially controlled subsidiaries. All significant intercompany balances and transactions are eliminated. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper accounts for its investment in Ilim Holding S.A. (Ilim), a separate reportable industry segment, using the equity method of accounting. Due to the complex organizational structure of Ilim's operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the Company reports its share of Ilim's operating results on a one-quarter lag basis. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Investments in affiliated companies where the Company has significant influence over their operations are accounted for by the equity method. International Paper's share of affiliates' earnings totaled earnings of $64 million, a loss of $49 million and earnings of $49 million in 2010, 2009 and 2008, respectively. </font></p></div></div></div></div></div></div> </div> CONSOLIDATION
The consolidated financial statements include the accounts of International Paper and its wholly-owned, controlled majority-owned and false false false false false | Other us-types:textBlockItemType string Describes an entity's accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example common stock, a partnership interest or other means of ex
erting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. An entity also may describe its accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph c
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph k
-Article 1
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 5, 6, 16-19
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02, 03
-Article 3A
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 140
-Paragraph 46
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 20
-Subparagraph a(2)
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph d
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 97-2
Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 96-16
Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 14, 15
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>REVENUE RECOGNITION </b></font></p>
<div class="MetaData">
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<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Revenue is recognized when the customer takes title and assumes the risks and rewards of ownership. Revenue is recorded at the time of shipment for terms designated f.o.b. (free on board) shipping point. For sales transactions designated f.o.b. destination, revenue is recorded when the product is delivered to the customer's delivery site, when title and risk of loss are transferred. Timber and forestland sales revenue is generally recognized when title and risk of loss pass to the buyer.</font></p></div></div></div></div></div></div></div></div></div> </div> REVENUE RECOGNITION
Revenue is recognized when the customer takes title and assumes the risks and rewards of ownership. Revenue is recorded at the time false false false false false | Other us-types:textBlockItemType string Describes an entity's accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction should be disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each
unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 13
-Section B
-Paragraph Question 1
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 8, 12, 13
false false Revenue Recognition
7 false 0 ip_FuelCreditsPolicyTextBlock ip false na duration Fuel Credits [Policy Text Block] false false false false false false false false false false terselabel 1 false false false0 0 <div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ALTERNATIVE FUEL MIXTURE CREDITS – COST OF PRODUCTS SOLD </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The U.S. Internal Revenue Code provided a tax credit for companies that use alternative fuel mixtures to produce energy to operate their businesses. As these credits represent a reduction of energy costs at the Company's U.S. manufacturing facilities, the credits are included as a reduction of Cost of products sold in 2009 in the accompanying consolidated statement of operations. See Alternative Fuel Mixture Credits in Note 4 for a further discussion of these credits. </font></p> </div> ALTERNATIVE FUEL MIXTURE CREDITS – COST OF PRODUCTS SOLD
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SHIPPING AND HANDLING COSTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Shipping and handling costs, such as freight to our customers' destinations, are included in distribution expenses in the consolidated statement of operations. When shipping and handling costs are included in the sales price charged for our products, they are recognized in net sales.</font></p></div> </div> SHIPPING AND HANDLING COSTS
Shipping and handling costs, such as freight to our customers' destinations, are included in distribution expenses in the false false false false false | Other us-types:textBlockItemType string Description of the accounting policy associated with the classification of shipping and handling costs including whether the costs are included in cost of sales or included in other income statement accounts. If shipping and handling fees are significant and are not included in cost of sales, disclosure includes both the amounts of such costs and the line item on the income statement which includes such costs.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 8
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 00-10
-Paragraph 6
false false Shipping and Handling Costs
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ANNUAL MAINTENANCE COSTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Costs for repair and maintenance activities are expensed in the month that the related activity is performed under the direct expense method of accounting. </font></p> </div> ANNUAL MAINTENANCE COSTS
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<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>TEMPORARY INVESTMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Temporary investments with an original maturity of three months or less are treated as cash equivalents and are stated at cost, which approximates market.</font></p> </div> TEMPORARY INVESTMENTS
Temporary investments with an original maturity of three months or less are treated as cash equivalents and are stated at cost, which false false false false false | Other us-types:textBlockItemType string Temporary Investments Policy [Text Block] No authoritative reference available. false false Temporary Investments
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INVENTORIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Inventories are valued at the lower of cost or market and include all costs directly associated with manufacturing products: materials, labor and manufacturing overhead. In the United States, costs of raw materials and finished pulp and paper products are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost methods. </font></p> </div> INVENTORIES
Inventories are valued at the lower of cost or market and include all costs directly associated with manufacturing products: materials, labor and false false false false false | Other us-types:textBlockItemType string Describes an entity's accounting policies covering its major classes of inventories, bases of stating inventories (for example lower of cost or market), methods by which amounts are added and removed from inventory classes (for example FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at co
st, this description includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Financial Reporting Release (FRR)
-Number 206
-Chapter 2
-Paragraph b
-Subparagraph i, ii
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 4
-Paragraph 3, 5-10, 15, 16, 17
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 3
-Section A
-Paragraph 9
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 81-1
-Paragraph 69-75
false false Inventories
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PLANTS, PROPERTIES AND EQUIPMENT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Plants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are capitalized, whereas normal repairs and maintenance are expensed as incurred. The units-of-production method of depreciation is used for major pulp and paper mills, and the straight-line method is used for other plants and equipment. Annual straight-line depreciation rates are, for buildings – 2 1/2% to 8 1/2%, and for machinery and equipment – 5% to 33%. </font></p> </div> PLANTS, PROPERTIES AND EQUIPMENT
Plants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are false false false false false | Other us-types:textBlockItemType string Describes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such asset
s are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 9
-Section C
-Paragraph 5
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 7
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 12, 13
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 34
-Paragraph 8, 9
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 13
-Subparagraph a
-Article 5
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 5
-Subparagraph d
false false Plants, Properties and Equipment
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FORESTLANDS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, International Paper and its subsidiaries owned or managed approximately 250,000 acres of forestland in Brazil, and through licenses and forest management agreements, had harvesting rights on government-owned forestlands in Russia. Costs attributable to timber are charged against income as trees are cut. The rate charged is determined annually based on the relationship of incurred costs to estimated current merchantable volume. </font></p> </div> FORESTLANDS
At December 31, 2010, International Paper and its subsidiaries owned or managed approximately 250,000 acres of forestland in Brazil, and false false false false false | Other us-types:textBlockItemType string Forestlands Policy [Text Block] No authoritative reference available. false false Forestlands
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na duration Goodwill Policy [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div> <div class="MetaData">
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>GOODWILL </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">Goodwill relating to a single business reporting unit is included as an asset of the applicable segment, while goodwill arising from major acquisitions that involve multiple business segments is classified as a corporate asset for segment reporting purposes. For goodwill impairment testing, this goodwill is allocated to reporting units. Annual testing for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim testing performed when management believes that it is more likely than not that events or circumstances have occurred that would result in the impairment of a reporting unit's goodwill. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In performing this testing, the Company estimates the fair value of its reporting units using the projected future cash flows to be generated by each unit over the estimated remaining useful operating lives of the unit's assets, discounted using the estimated cost of capital for each reporting unit. These estimated fair values are then analyzed for reasonableness by comparing them to historic market transactions for businesses in the industry, and by comparing the sum of the reporting unit fair values and other corporate assets and liabilities divided by diluted common shares outstanding to the Company's traded stock price on the testing date. For reporting units whose recorded value of net assets plus goodwill is in excess of their estimated fair values, the fair values of the individual assets and liabilities of the respective reporting units are then determined to calculate t
he amount of any goodwill impairment charge required (see Note 8). </font></p></div> </div> GOODWILL
Goodwill relating to a single business reporting unit is included as an asset of the applicable segment, while goodwill arising from major false false false false false | Other us-types:textBlockItemType string Goodwill Policy [Text Block] No authoritative reference available. false false Goodwill
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>IMPAIRMENT OF LONG-LIVED ASSETS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable, measured by comparing their net book value to the undiscounted projected future cash flows generated by their use. Impaired assets are recorded at their estimated fair value (see Note 6).</font></p></div> </div> IMPAIRMENT OF LONG-LIVED ASSETS
Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that false false false false false | Other us-types:textBlockItemType string Describes an entity's accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 5
-Section CC
-Subsection 3
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 7-15, 26, 30-37
false false Impairment of Long-Lived Assets
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INCOME TAXES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper uses the asset and liability method of accounting for income taxes whereby deferred income taxes are recorded for the future tax consequences attributable to differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets and liabilities are remeasured to reflect new tax rates in the periods rate changes are enacted. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper records its worldwide tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Where the Company believes that a tax position is supportable for income tax purposes, the item is included in its income tax returns. Where treatment of a position is uncertain, liabilities are recorded based upon the Company's evaluation of the "more likely than not" outcome considering the technical merits of the position based on specific tax regulations and the facts of each matter. Changes to recorded liabilities are made only when an identifiable event occurs that changes the likely outcome, such as settlement with the relevant tax authority, the expiration of statutes of limitation for the subject tax year, a change in tax laws, or a recent court case that addresses the matter. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">While the judgments and estimates made by the Company are based on management's evaluation of the technical merits of a matter, assisted as necessary by consultation with outside consultants, historical experience and other assumptions that management believes are appropriate and reasonable under current circumstances, actual resolution of these matters may differ from recorded estimated amounts, resulting in charges or credits that could materially affect future financial statements. </font></p> </div> INCOME TAXES
International Paper uses the asset and liability method of accounting for income taxes whereby deferred income taxes are recorded for the future false false false false false | Other us-types:textBlockItemType string Describes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization
of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 4
-Paragraph 11
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 20
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 6-34, 43, 47, 49
false false Income Taxes
17 false 0 ip_ShareBasedCompensationPolicyTextBlock ip false na duration Share Based Compensation Policy [Text Block] false false false false false false false false false false terselabel 1 false false
IsRatio>false 0 0 <div> <div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>STOCK-BASED COMPENSATION </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Compensation costs resulting from all stock-based compensation transactions are measured and recorded in the consolidated financial statements based on the grant-date fair value of the equity or liability instruments issued. In addition, liability awards are remeasured each reporting period. Compensation cost is recognized over the period that an employee provides service in exchange for the award.</font></p></div> </div> STOCK-BASED COMPENSATION
Compensation costs resulting from all stock-based compensation transactions are measured and recorded in the consolidated financial false false false false false | Other us-types:textBlockItemType string Share Based Compensation Policy [Text Block] No authoritative reference available. false false Stock-Based Compensation
18 false 0 ip_EnvironmentalCostPolicyTextBlock ip false na duration Environmental Cost Policy [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ENVIRONMENTAL REMEDIATION COSTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Costs associated with environmental remediation obligations are accrued when such costs are probable and reasonably estimable. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable. </font></p> </div> ENVIRONMENTAL REMEDIATION COSTS
Costs associated with environmental remediation obligations are accrued when such costs are probable and reasonably false false false false false | Other us-types:textBlockItemType string Environmental Cost Policy [Text Block] No authoritative reference available. false false Environmental Remediation Costs
19 false 0 ip_AssetRetirementObligationPolicyTextBlock ip falsena duration Asset Retirement Obligation Policy [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ASSET RETIREMENT OBLIGATIONS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A liability and an asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. The liability is accreted over time and the asset is depreciated over the life of the related equipment or facility. International Paper's asset retirement obligations principally relate to closure costs for landfills. Revisions to the liability could occur due to changes in the estimated costs or timing of closures, or possible new federal or state regulations affecting these closures. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with potential future closures or redesigns of certain production facilities, it is possible that the Company may be required to take steps to remove certain materials from these facilities. Applicable regulations and standards provide that the removal of certain materials would only be required if the facility were to be demolished or underwent major renovations. At this time, any such obligations have an indeterminate settlement date, and the Company believes that adequate information does not exist to apply an expected-present-value technique to estimate any such potential obligations. Accordingly, the Company does not record a liability for such remediation until a decision is made that allows reasonable estimation of the timing of such remediation. </font></p> </div> ASSET RETIREMENT OBLIGATIONS
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>TRANSLATION OF FINANCIAL STATEMENTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Balance sheets of international operations are translated into U.S. dollars at year-end exchange rates, while statements of operations are translated at average rates. Adjustments resulting from financial statement translations are included as cumulative translation adjustments in Accumulated other comprehensive loss. </font></p> </div> TRANSLATION OF FINANCIAL STATEMENTS
Balance sheets of international operations are translated into U.S. dollars at year-end exchange rates, while statements false false false false false | Other us-types:textBlockItemType string Describes a reporting enterprise's accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign rep
orting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 5, 7-20, 80
false false Translation of Financial Statements
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XML
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R11.xml
IDEA: Restructuring Charges and Other Items
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USD ($)
USD ($) / shares
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 4 RESTRUCTURING CHARGES AND OTHER ITEMS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">This footnote discusses restructuring charges and other items recorded for each of the three years included in the period ended December 31, 2010. It includes a summary of activity for each year, a rollforward associated with severance and other cash costs arising in each year, and tables presenting details of the 2010, 2009 and 2008 organizational restructuring programs. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>RESTRUCTURING AND OTHER CHARGES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2010:</b> During 2010, total restructuring and other charges of $<font class="_mt">394</font> million before taxes ($<font class="_mt">242</font> million after taxes) were recorded. These charges included: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="78%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Before-Tax</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>After-Tax</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Franklin, Virginia mill – closure costs</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 192</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Early debt extinguishment costs (see Notes 12 and 13)</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Write-off of Ohio Commercial Activity tax receivable</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shorewood Packaging reorganization</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Bellevue, Washington container facility – closure costs</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>S&A reduction initiative</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Spartanburg, South Carolina container facility – closure costs</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Etienne mill – severance and other costs</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Other</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 242</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents the $394 million restructuring and other charges by business: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="54%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>First</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Second</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Third</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fourth</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Industrial Packaging</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a,b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(b)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Printing Papers</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>204<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>111<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Consumer Packaging</b></font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3 <sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1 <sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </b></font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Corporate</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>52</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>215</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>144</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million of other charges related to the shutdown of the Pineville, Louisiana mill and $<font class="_mt">1</font> million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">3</font> million of severance charges related to the shutdown of the Etienne mill in France. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes a gain of $<font class="_mt">2</font> million related to the shutdown of the Albany, Oregon mill; a $<font class="_mt">3</font> million charge to write down the value of land, $<font class="_mt">2</font> million of accelerated depreciation and $<font class="_mt">2</font> million of severance charges related to the closure of the Bellevue, Washington container facility; $<font class="_mt">1</font> million of accelerated depreciation, $<font class="_mt">2</font> million of severance charges and $<font class="_mt">2</font> million of other charges related to the closure of the Spartanburg, South Carolina container facility; and $<font class="_mt">2</font> million of severance charges and $<font class="_mt">1</font> million of other costs related to the closure of certain of the Company's Asian box plant
s. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">236</font> million of accelerated depreciation, $<font class="_mt">36</font> million of environmental closure costs, $<font class="_mt">30</font> million of severance charges and $<font class="_mt">13</font> million of other charges related to the shutdown of the Franklin, Virginia mill </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">3</font> million of accelerated depreciation, $<font class="_mt">1</font> million of severance charges and $<font class="_mt">4</font> million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Included in the $<font class="_mt">394</font> million of organizational restructuring and other charges is $<font class="_mt">46</font> million of severance charges. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents a roll forward of the severance and other costs for approximately <font class="_mt">1,650</font> employees included in the 2010 restructuring charges: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="81%"> </td>
<td valign="bottom" width="17%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Severance</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>and Other</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Opening balance (recorded first quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>20</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (second quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (third quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (fourth quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010 activity</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cash charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(32</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance, December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">As of December 31, 2010, <font class="_mt">1,388</font> employees had left the Company under these programs. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2009:</b> During 2009, total restructuring and other charges of $1.4 billion before taxes ($<font class="_mt">853</font> million after taxes) were recorded. These charges included: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Before-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">After-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Albany, Oregon containerboard mill – closure costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">286</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Franklin, Virginia paper mill and associated operations – closure costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">290</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Early debt extinguishment costs (see Notes 12 and 13)</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">185</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">113</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 overhead reduction program – severance and benefits</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">92</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pineville, Louisiana containerboard mill – closure costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valliant, Oklahoma containerboard mill – paper machine shutdown costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Etienne mill – severance and other costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inverurie mill – closure costs</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">853</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents the $1.4 billion restructuring and other charges by business: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="51%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>First</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Second</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Third</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fourth</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaing</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">662<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a,b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">684</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">c,d)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">223<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">69<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">f,g)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">59</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">141</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">81</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">333</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">79</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">151</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,040</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">19</font> million of severance charges and $<font class="_mt">12</font> million of other charges related to the shutdown of the Etienne mill in France. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">82</font> million of accelerated depreciation and other noncash charges, $<font class="_mt">9</font> million of severance charges, $<font class="_mt">10</font> million of environmental charges and $<font class="_mt">1</font> million of other charges related to the shutdown of the Pineville, Louisiana mill; $<font class="_mt">438</font> million of accelerated depreciation and other noncash charges, $<font class="_mt">21</font> million of severance charges and benefit costs, $<font class="_mt">9</font> million of environmental charges and $<font class="_mt">1</font> million of other charges related to the shutdown of the Albany, Oregon mill; and $<font class="_mt">81</font> million of accelerated depreciation and other noncash charges and $<font class="_mt">1</font> milli
on of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">17</font> million of severance charges and $<font class="_mt">6</font> million of other charges related to the shutdown of the Inverurie mill in Scotland. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">5</font> million of severance charges and $<font class="_mt">3</font> million of other charges related to the shutdown of the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center and $<font class="_mt">3</font> million of charges related to the shutdown of the Bastrop, Louisiana mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">199</font> million of accelerated depreciation and other noncash charges, $<font class="_mt">23</font> million of severance charges and $<font class="_mt">1</font> million of other charges related to the shutdown of the Franklin, Virginia mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million of accelerated depreciation charges, $<font class="_mt">2</font> million of severance charges and $<font class="_mt">3</font> million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">59</font> million of accelerated depreciation charges and other noncash charges, $<font class="_mt">7</font> million of severance charges and $<font class="_mt">1</font> million of other charges related to the shutdown of the Franklin, Virginia mill. </i></font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Included in the $1.4 billion of organizational restructuring and other charges is $<font class="_mt">166</font> million of severance charges and $<font class="_mt">85</font> million of related benefits for approximately <font class="_mt">3,175</font> employees. As of December 31, 2010, all of these employees had been terminated. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents a rollforward of the severance and other costs included in the 2009 restructuring charges: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="81%"> </td>
<td valign="bottom" width="17%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Severance</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>and Other</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Opening balance (recorded first quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (second quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (third quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (fourth quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2009 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pension and postretirement termination benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(85</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010 activity</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cash charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(84</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance, December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2008: </b>During 2008, total restructuring and other charges of $<font class="_mt">370</font> million before taxes ($<font class="_mt">227</font> million after taxes) were recorded. These charges included: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="65%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Before-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">After-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Bastrop, Louisiana mill – shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Legal reserve adjustments (see Note 10)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 overhead reduction program – severance and benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Write-off of supply chain initiative development costs for U.S. container operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Franklin, Virginia mill – paper machine shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shorewood Packaging Canada – restructuring costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Ace Packaging – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">227</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents the $<font class="_mt">370</font> million restructuring and other charges by business: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="56%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">First</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Second</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Third</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fourth</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">89</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">179</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">97</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million of accelerated depreciation charges, $<font class="_mt">2</font> million of severance charges and $<font class="_mt">4</font> million of other charges related to the closure of the Ace Packaging business. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">71</font> million of accelerated depreciation charges, $<font class="_mt">32</font> million of severance charges, $<font class="_mt">11</font> million of environmental expenses, and $<font class="_mt">9</font> million of other charges related to the shutdown of the Bastrop, Louisiana mill, and $<font class="_mt">23</font> million of accelerated depreciation charges, $<font class="_mt">6</font> million of severance charges, and $<font class="_mt">1</font> million of other charges related to the shutdown of a paper machine at the Franklin, Virginia mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">22</font> million of severance charges, $<font class="_mt">7</font> million of accelerated depreciation charges and $<font class="_mt">1</font> million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Included in the $<font class="_mt">370</font> million of organizational restructuring and other charges is $<font class="_mt">38</font> million of severance charges and $<font class="_mt">15</font> million of related benefits for approximately <font class="_mt">1,675</font> employees related to the Company's 2008 overhead cost reduction initiative. As of December 31, 2009, all of these employees had been terminated. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table presents a roll forward of the severance and other costs included in the 2008 restructuring charges: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="83%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Severance</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">and Other</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Opening balance (recorded first quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (second quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (third quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (fourth quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">97</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2009 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(96</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance, December 31, 2009</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Alternative Fuel Mixture Credits </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The U.S. Internal Revenue Code provided a tax credit for companies that use alternative fuel mixtures to produce energy to operate their businesses. The credit, equal to $<font class="_mt">0.50</font> per gallon of alternative fuel contained in the mixture, is refundable to the taxpayer. In January 2009, the Company received notification that its application to be registered as an alternative fuel mixer had been approved. For the year ended December 31, 2009, the Company filed claims for alternative fuel mixture credits covering eligible periods subsequent to November 2008 through October 25, 2009 totaling approximately $<font class="_mt">1.7</font> billion, all of which had been received in cash at December 31, 2009. Additionally, the Company had recorded $<font class="_mt">379</font> million of alternative fuel mix
ture credits as a reduction of income taxes payable at December 31, 2009. Accordingly, the accompanying consolidated statement of operations includes credits of approximately $<font class="_mt">2.1</font> billion for the year ended December 31, 2009 in Cost of products sold ($<font class="_mt">1.4</font> billion after taxes), representing eligible alternative fuel mixture credits earned through December 31, 2009, when the credit expired. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cellulosic Bio-fuel Tax Credit </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In a memorandum dated June 28, 2010, the IRS concluded that black liquor would also qualify for the cellulosic bio-fuel tax credit of $<font class="_mt">1.01</font> per gallon produced in 2009. On October 15, 2010, the IRS ruled that companies may qualify in the same year for the $0.50 per gallon alternative fuel mixture credit and the $1.01 cellulosic bio-fuel tax credit for 2009, but not for the same gallons. To the extent a taxpayer changes their position and uses the $1.01 credit, they must re-pay the refunds they received as alternative fuel mixture credits attributable to the gallons converted to the cellulosic bio-fuel credit. The repayment of this refund must include interest. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">One important difference between the two credits is that the $1.01 credit must be credited against a company's Federal taxable earnings, and the credit may be carried forward against taxable earnings through 2015. In contrast, the $0.50 credit is refundable in cash. The cellulosic bio-fuel credit is required to be included in Federal taxable income. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company filed an application with the IRS on November 18, 2010, to receive the required registration code to become a registered cellulosic bio-fuel producer. At present, the Company has not received this registration code; however, the Company believes approval of the application for the registration code to be ministerial in nature. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company has evaluated the optimal use of the two credits with respect to gallons produced in 2009. Considerations include uncertainty around future federal taxable income, the taxability of the alternative fuel mixture credit, future liquidity and uses of cash such as but not limited to debt re-payments and voluntary pension contributions versus repayment of alternative fuel mixture credits with interest. At the present time, the Company does not intend to convert any gallons under the alternative fuel mixture credit to gallons under the cellulosic bio-fuel credit. The Company will continue evaluating its position with regard to the previously claimed alternative fuel mixture credit gallons produced in 2009. This continued evaluation may result in the Company repaying some or all of the cash received with respect to the $0.50 credit, and amendment of the Company's 2009 tax r
eturn. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During 2009, the Company did produce <font class="_mt">64</font> million gallons of black liquor that were not eligible for the alternative fuel mixture credit. The Company does intend to claim these gallons for the cellulosic bio-fuel credit by amending the Company's 2009 tax return. The impact of this amendment, which has been included in the Company's 2010 Income tax provision (benefit), is a $<font class="_mt">40</font> million net credit to tax expense. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">As is the case with other tax credits, taxpayer claims are subject to possible future review by the IRS which has the authority to propose adjustments to the amounts claimed, or credits received. </font></p></div> </div> NOTE 4 RESTRUCTURING CHARGES AND OTHER ITEMS
This footnote discusses restructuring charges and other items recorded for each of the three years included in false false false false false | Other us-types:textBlockItemType string Description of restructuring activities including exit and disposal activities, which should include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. This description does not include restructuring costs in co
nnection with a business combination or discontinued operations and long-lived assets (disposal groups) sold or classified as held for sale. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 146
-Paragraph 20
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 5
-Section P
-Subsection 3, 4
false false Restructuring Charges and Other Items
1 2 Restructuring Charges and Other Items UnKnown UnKnown UnKnown UnKnown false true
XML
38
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IDEA: Earnings Per Share Attributable to International Paper Company Common Shareholders
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USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 true 0 us-gaap_EarningsPerShareAbstractus-gaap true na duration No definition available. false false false false false false false false false false 1 false false false 0 0 false falsefalse false false | Other xbrli:stringItemType string No definition available. false false Earnings Per Share Attributable to International Paper Company Common Shareholders
3 false 0 us-gaap_EarningsPerShareTextBlock us-gaap true na duration No definition available. false false false false f
alse false false false false false terselabel 1 false false false 0 0 <div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 3 EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Basic earnings per common share from continuing operations are computed by dividing earnings from continuing operations by the weighted average number of common shares outstanding. Diluted earnings per common share from continuing operations are computed assuming that all potentially dilutive securities, including "in-the-money" stock options, were converted into common shares at the beginning of each year. In addition, the computation of diluted earnings per share reflects the inclusion of contingently convertible securities in periods when dilutive. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A reconciliation of the amounts included in the computation of basic earnings per common share from continuing operations, and diluted earnings per common share from continuing operations is as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>644</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of dilutive securities (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations – assuming dilution</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>644</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">663</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,269</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Average common shares outstanding</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>429.8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">425.3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">421.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of dilutive securities Restricted performance share plan (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4.4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2.7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Stock options (b)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Average common shares outstanding – assuming dilution</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>434.2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">428.0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">421.0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Basic earnings (loss) per common share<br />from continuing operations</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1.50</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1.56</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.02</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Diluted earnings (loss) per common share<br />from continuing operations</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1.48</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1.55</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.02</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
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<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Securities are not included in the table in periods when antidilutive. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Options to purchase <font class="_mt">18.2</font> million, <font class="_mt">22.2</font> million and <font class="_mt">25.1</font> million shares for the years ended December 31, 2010, 2009 and 2008, respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company's common stock for each respective reporting date. </i></font></p></td></tr></table></div></div> </div> NOTE 3 EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS
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e false 2000000 2 false false false true false | 8 false false false 0 0 false false false true false | 9 false false
false 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false falsefalse 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false false
false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false false0 0 false false false true false | 16 false false false 0 0 false false false true false | Monetary
xbrli:monetaryItemType monetary This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 15
-Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph c
false false Income loss from discontinued operations, after taxes
6 false 0 us-gaap_EquityMethodInvestmentOwnershipPercentage us-gaap true na instant No definition available. false false false false false false false false false false terselabel 1 f
alse true false 0 0 false false false false false | 2 false true false 0 0 false false false false false | 3 falsetrue false 0 0 false false false false false | 4 false true false 0 0 false false false false false | 5 falsetrue false 0 0 false false false true false | 6 false true false 0 0 false false false true false | 7 false truefalse 0 0 false false false true false | 8 false true false 0 0 false false false true false | 9 false truefalse 0 0 false false false true false | 10 false true false 0 0 false false false true false | 11 false true
false 0 0 false false false true false | 12 false true false 0 0 false false false true false | 13 false true false0 0 false false false true false | 14 true true false 0.1 0.1 false false false true false | 15 false true false0 0 false false false true false | 16 false true false 0 0 false false false true false | Other us-types:p
ercentItemType pure The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph f
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 20
-Subparagraph a (1)
false false Ownership interest
7 false 0 ip_CashReceivedFromRedemptionOfInterest ip false credit duration Cash received from redemption of interest false false false false false false false false false false label 1 false false
IsRatio>false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false falsefalse 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 false false false0 0 false false false true false | 8 false false false 0 0 false false false true false | 9 false false false0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false false fa
lse 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false false false
DisplayZeroAsNone>0 0 false false false true false | 14 true false false 37000000 37 false false false true false | 15 false false false
0 0 false false false true false | 16 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemT
ype monetary Cash received from redemption of interest No authoritative reference available. false false Cash received from redemption of interest
8 false 0 us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal us-gaap true credit duration No definition available. false false false false false false false fa
lse false false label 1 false false false 0 0 false false false false false | 2 true false false 23000000 23 falsefalse false false false | 3 true false false -59000000 -59 false false false false false | 4 true false false -106000000 -106 falsefalse false false false | 5 false false false 0 0 false false false true false | 6 false false false 0 0 falsefalse false true false | 7 false false false 0 0 false false false true false | 8 true false false 6000000 6 falsefalse false true false | 9 true false false 6000000 6 false false false true false | 10 false false false 0 0 falsefalse false true false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 falsefalse false true false | 13 false false false 0 0 false false false true false | 14 false false false 0 0 false <
ShowCurrencySymbol>falsefalse true false | 15 false false false 0 0 false false false true false | 16 false false false 0 0 false falsefalse true false | Monetary xbrli:monetaryItemType monetary The gain (loss) resulting from the sale of a disposal group that is not a discontinued operation. It is included in income from continuing operations before income taxes in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph b
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 37, 45
false false Gain before taxes related to the company's 2006 Transformation Plan forestlands sales
9 false 0 ip_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalNetOfTax ip false credit duration Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Net Of tax false false false false false false false false false false
terselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false <
hasSegments>falsefalse | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false falsefalse | 5 false false false 0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 false false false 0 0 false false false true false | 8 true false false 4000000 4 false false false t
rue false | 9 true false false 4000000 4 false false false true false | 10 false false false 0 0 false false false tr
ue false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 false false false truefalse | 13 false false false 0 0 false false false true false | 14 false false false 0 0 false false false truefalse | 15 false false false 0 0 false false false true false | 16 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Net Of tax No authoritative reference available. false false Gain after taxes related to the company's 2006 Transformation Plan forestlands sales
10 false 0 ip_NetGainsLossesOnSalesAndImpairmentsOfBusinesses ip false debit duration The adjustment to remove the charge against earnings resulting from the aggregate write down of all assets from their... false
false false false false false false false false true negated 1 false false false 0 0 false false false false false | 2 truefalse false -23000000 -23 false false false false false | 3 true false false 59000000 59 false false false false false | 4 tru
e false false 106000000 106 false false false false false | 5 true false false -2000000 -2 false false false true false | 6 falsefalse false 0 0 false false false true false | 7 false false false 0 0 false false false true false | 8
false false false 0 0 false false false true false | 9 false false false 0 0 false false false true false | 10 false<
/IsNumeric>false false 0 0 false false false true false | 11 false false false 0 0 false false false true false | 12 falsefalse false 0 0 false false false true false | 13 false false false 0 0 false false false true false | 14 true
false false -25000000 -25 false false false true false | 15 false false false 0 0 false false false true false | 16 falsefalse false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary The adjustment to remove the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value and gain/loss resulting from the sale of a business that is not considered a discontinued operation. No authoritative reference available. falsefalse Net (gains) losses on sales and impairments of businesses
11 false 0 ip_NetGainsLossesOnSalesAndImpairmentsOfBusinessesNetOfTax ip false debit duration Net (gains) losses on sales and impairments of businesses, net of tax false false false false false false false false false true negated 1 falsefalse false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 falsefalse false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 fa
lse false false 0 0 false false false true false | 6 false false false 0 0 false false false true false | 7 falsefalse false 0 0 false false false true false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false falsefalse 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false
false false 0 0 false false false true false | 14 true false false -15000000 -15 false false false true false | 15 false falsefalse 0 0 false false false true false | 16 false false false 0 0 false false false true false | Monetary
xbrli:monetaryItemType monetary Net (gains) losses on sales and impairments of businesses, net of tax No authoritative reference available. false false Net (gains) losses on sales and impairments of businesses, net of tax
12 false 0 us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf us-gaap true debit duration No definition available. false false false false false falsefalse false false false 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0
false false false false false | 5 false false false 0 0 false false false true false | 6 false false false 0 0 falsefalse false true false | 7 false false false 0 0 false false false true false | 8 false false false 0 0 falsefalse false true false | 9 false false false 0 0 false false false true false | 10 true false false 8000000 8 falsefalse false true false | 11 true false false 48000000 48 false false false true false | 12 true false false 2000000 2 falsefalse false true false | 13 true false false 107000000 107 false false false true false | 14 false false false 0 0 falsefalse false true false | 15 false false false 0 0 false false false true false | 16 false false false 0 0 falsefalse false true false | Monetary xbrli:monetaryItemType monetary The aggregate amount of write-downs for impairments recognized during the period for long-lived assets held for abandonment, exchange or sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 27, 28, 29, 30
false false Write down of long-lived assets of the mill to estimated fair value, before taxes
13 false 0 ip_ImpairmentOfLongLivedAssetsToBeDisposedOfNetOfTax ip false debit duration Impairment Of Long Lived Assets To Be Disposed Of, Net Of Tax false false false false false false false false false false terselabel1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false true false | 6 false false false 0 0 false false false true fal
se | 7 false false false 0 0 false false false true false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false false false true false | 10 true false false 8000000 8 false false false true false | 11 true false false 48000000 48 false false false true false | 12 true false false 2000000 2 false false false true fals
e | 13 true false false 84000000 84 false false false true false | 14 false false false 0 0 false false false true fa
lse | 15 false false false 0 0 false false false true false | 16 false false false 0 0 false false false true false
hasScenarios> | Monetary xbrli:monetaryItemType monetary Impairment Of Long Lived Assets To Be Disposed Of, Net Of Tax No authoritative reference available. false false Write down of long-lived assets of the mill to estimated fair value, net of tax
14 false 0 ip_GainLossOnSaleOfBusinessBeforeTax ip false credit duration Gain Loss On Sale Of Business Before Tax false false false false falsefalse false false false false terselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0false false false false false | 5 true false false 2000000 2 false false false true false | 6 false false false 0 0false false false true false | 7 false false false 0 0 false false false true false | 8 false false false 0 0false false false true false | 9 false false false 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false false false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 true false false 3000000 3 false false false true false | 16 true false false 1000000 1 false false false true false | Monetary xbrli:monetaryItemType monetary Gain Loss On Sale Of Business Before Tax No authoritative reference available. false false Gains (losses) of businesses previously sold, pre tax
15 false 0 ip_GainLossOnSaleOfBusinessNetOfTax ip false credit durationGain (loss) on sale of business, net of tax false false false false false false false false false false terselabel 1 false false false 0 0 false false false falsefalse | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false falsefalse | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false t
rue false | 6 false false false 0 0 false false false true false | 7 false false false 0 0 false false false truefalse | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false false false truefalse | 10 false false false 0 0 false false false true false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false false false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 true false false 0 0 false true false true
false | 16 true false false 1000000 1 false true false true false | Monetary xbrli:monetaryItemType monetary Gain (loss) on sale of business, net of tax No authoritative reference available. false false Gains (losses) of businesses previously sold, net of tax
16 14 Businesses Held for Sale, Divestitures and Impairments (Narrative) (Details) (USD $) Millions UnKnown UnKnown UnKnown true true
XML
41
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IDEA: Earnings Per Share Attributable to International Paper Company Common Shareholders (Tables)
2.2.0.25 false false 30303 - Disclosure - Earnings Per Share Attributable to International Paper Company Common Shareholders (Tables) true false false 1 false false USD false false 1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 true 0 us-gaap_EarningsPerShareAbstractus-gaap true na duration No definition available. false false false false false false false false false false 1 false false false 0 0 false falsefalse false false | Other xbrli:stringItemType string No definition available. false false Earnings Per Share Attributable to International Paper Company Common Shareholders
3 false 0 ip_ReconciliationOfEarningsPerShareTextBlock ip false na duration Reconciliation Of Earnings Per Share [Text Block] false false false f
alse false false false false false false terselabel 1 false false false 0 0 <div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>644</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of dilutive securities (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (loss) from continuing operations – assuming dilution</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>644</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">663</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,269</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Average common shares outstanding</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>429.8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">425.3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">421.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of dilutive securities Restricted performance share plan (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4.4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2.7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Stock options (b)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Average common shares outstanding – assuming dilution</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>434.2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">428.0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">421.0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Basic earnings (loss) per common share<br />from continuing operations</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1.50</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1.56</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.02</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Diluted earnings (loss) per common share<br />from continuing operations</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1.48</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1.55</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.02</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Securities are not included in the table in periods when antidilutive. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Options to purchase <font class="_mt">18.2</font> million, <font class="_mt">22.2</font> million and <font class="_mt">25.1</font> million shares for the years ended December 31, 2010, 2009 and 2008, respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company's common stock for each respective reporting date. </i></font></p></td></tr></table></div> </div> In millions, except per share amounts
2010
2009
2008
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12/31/2010
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12/31/2009
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12/31/2010
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12/31/2009
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<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 1 SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>NATURE OF BUSINESS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper (the Company) is a global paper and packaging company that is complemented by an extensive North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Substantially all of our businesses have experienced, and are likely to continue to experience, cycles relating to available industry capacity and general economic conditions.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FINANCIAL STATEMENTS </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States that require the use of management's estimates. Actual results could differ from management's estimates.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>CONSOLIDATION </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The consolidated financial statements include the accounts of International Paper and its wholly-owned, controlled majority-owned and financially controlled subsidiaries. All significant intercompany balances and transactions are eliminated. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper accounts for its investment in Ilim Holding S.A. (Ilim), a separate reportable industry segment, using the equity method of accounting. Due to the complex organizational structure of Ilim's operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the Company reports its share of Ilim's operating results on a one-quarter lag basis. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Investments in affiliated companies where the Company has significant influence over their operations are accounted for by the equity method. International Paper's share of affiliates' earnings totaled earnings of $<font class="_mt">64</font> million, a loss of $49 million and earnings of $<font class="_mt">49</font> million in 2010, 2009 and 2008, respectively</font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>REVENUE RECOGNITION </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Revenue is recognized when the customer takes title and assumes the risks and rewards of ownership. Revenue is recorded at the time of shipment for terms designated f.o.b. (free on board) shipping point. For sales transactions designated f.o.b. destination, revenue is recorded when the product is delivered to the customer's delivery site, when title and risk of loss are transferred. Timber and forestland sales revenue is generally recognized when title and risk of loss pass to the buyer.</font></p></div></div></div></div></div>
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<div><font style="font-family: ARIAL;" class="_mt" size="1"><b>ALTERNATIVE FUEL MIXTURE CREDITS – COST OF PRODUCTS SOLD </b></font></div></div></div>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The U.S. Internal Revenue Code provided a tax credit for companies that use alternative fuel mixtures to produce energy to operate their businesses. As these credits represent a reduction of energy costs at the Company's U.S. manufacturing facilities, the credits are included as a reduction of Cost of products sold in 2009 in the accompanying consolidated statement of operations. See Alternative Fuel Mixture Credits in Note 4 for a further discussion of these credits.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SHIPPING AND HANDLING COSTS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Shipping and handling costs, such as freight to our customers' destinations, are included in distribution expenses in the consolidated statement of operations. When shipping and handling costs are included in the sales price charged for our products, they are recognized in net sales.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ANNUAL MAINTENANCE COSTS </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Costs for repair and maintenance activities are expensed in the month that the related activity is performed under the direct expense method of accounting.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>TEMPORARY INVESTMENTS </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Temporary investments with an original maturity of three months or less are treated as cash equivalents and are stated at cost, which approximates market.</font></p></div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INVENTORIES </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Inventories are valued at the lower of cost or market and include all costs directly associated with manufacturing products: materials, labor and manufacturing overhead. In the United States, costs of raw materials and finished pulp and paper products are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost methods.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PLANTS, PROPERTIES AND EQUIPMENT </b></font></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Plants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are capitalized, whereas normal repairs and maintenance are expensed as incurred. The units-of-production method of depreciation is used for major pulp and paper mills, and the straight-line method is used for other plants and equipment. Annual straight-line depreciation rates are, for buildings – 2 1/2% to 8 1/2%, and for machinery and equipment – <font class="_mt">5</font>% to <font class="_mt">33</font>%.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"> </p><font style="font-family: ARIAL;" class="_mt" size="1"><b>FORESTLANDS </b></font>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, International Paper and its subsidiaries owned or managed approximately <font class="_mt">250,000</font> acres of forestlands in Brazil, and through licenses and forest management agreements, had harvesting rights on government-owned forestlands in Russia. Costs attributable to timber are charged against income as trees are cut. The rate charged is determined annually based on the relationship of incurred costs to estimated current merchantable volume. </font></p></div>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></p><font style="font-family: ARIAL;" class="_mt" size="1"><b>GOODWILL </b></font>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Goodwill relating to a single business reporting unit is included as an asset of the applicable segment, while goodwill arising from major acquisitions that involve multiple business segments is classified as a corporate asset for segment reporting purposes. For goodwill impairment testing, this goodwill is allocated to reporting units. Annual testing for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim testing performed when management believes that it is more likely than not events or circumstances have occurred that would result in the impairment of a reporting unit's goodwill. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In performing this testing, the Company estimates the fair value of its reporting units using the projected future cash flows to be generated by each unit over the estimated remaining useful operating lives of the unit's assets, discounted using the estimated cost of capital for each reporting unit. These estimated fair values are then analyzed for reasonableness by comparing them to historic market transactions for businesses in the industry, and by comparing the sum of the reporting unit fair values and other corporate assets and liabilities divided by diluted common shares outstanding to the Company's traded stock price on the testing date. For reporting units whose recorded value of net assets plus goodwill is in excess of their estimated fair values, the fair values of the individual assets and liabilities of the respective reporting units are then determined to calculate t
he amount of any goodwill impairment charge required (see Note 8). </font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>IMPAIRMENT OF LONG-LIVED ASSETS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable, measured by comparing their net book value to the undiscounted projected future cash flows generated by their use. Impaired assets are recorded at their estimated fair value (see Note 6).</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INCOME TAXES </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper uses the asset and liability method of accounting for income taxes whereby deferred income taxes are recorded for the future tax consequences attributable to differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets and liabilities are remeasured to reflect new tax rates in the periods rate changes are enacted. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper records its worldwide tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Where the Company believes that a tax position is supportable for income tax purposes, the item is included in its income tax returns. Where treatment of a position is uncertain, liabilities are recorded based upon the Company's evaluation of the "more likely than not" outcome considering the technical merits of the position based on specific tax regulations and the facts of each matter. Changes to recorded liabilities are made only when an identifiable event occurs that changes the likely outcome, such as settlement with the relevant tax authority, the expiration of statutes of limitation for the subject tax year, a change in tax laws, or a recent court case that addresses the matter. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">While the judgments and estimates made by the Company are based on management's evaluation of the technical merits of a matter, assisted as necessary by consultation with outside consultants, historical experience and other assumptions that management believes are appropriate and reasonable under current circumstances, actual resolution of these matters may differ from recorded estimated amounts, resulting in charges or credits that could materially affect future financial statements. </font></p></div>
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>STOCK-BASED COMPENSATION </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Compensation costs resulting from all stock-based compensation transactions are measured and recorded in the consolidated financial statements based on the grant-date fair value of the equity or liability instruments issued. In addition, liability awards are remeasured each reporting period. Compensation cost is recognized over the period that an employee provides service in exchange for the award.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ENVIRONMENTAL REMEDIATION COSTS </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Costs associated with environmental remediation obligations are accrued when such costs are probable and reasonably estimable. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable.</font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ASSET RETIREMENT OBLIGATIONS </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">A liability and an asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. The liability is accreted over time and the asset is depreciated over the life of the related equipment or facility. International Paper's asset retirement obligations principally relate to closure costs for landfills. Revisions to the liability could occur due to changes in the estimated costs or timing of closures, or possible new federal or state regulations affecting these closures. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with potential future closures or redesigns of certain production facilities, it is possible that the Company may be required to take steps to remove certain materials from these facilities. Applicable regulations and standards provide that the removal of certain materials would only be required if the facility were to be demolished or underwent major renovations. At this time, any such obligations have an indeterminate settlement date, and the Company believes that adequate information does not exist to apply an expected-present-value technique to estimate any such potential obligations. Accordingly, the Company does not record a liability for such remediation until a decision is made that allows reasonable estimation of the timing of such remediation.</font></p></div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>TRANSLATION OF FINANCIAL STATEMENTS </b></font></p>
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<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Balance sheets of international operations are translated into U.S. dollars at year-end exchange rates, while statements of operations are translated at average rates. Adjustments resulting from financial statement translations are included as cumulative translation adjustments in Accumulated other comprehensive loss.</font></p></div> </div> NOTE 1 SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
NATURE OF BUSINESS
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<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Thereafter</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
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<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Lease obligations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">162</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">135</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">110</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
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<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Purchase obligations (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,564</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">749</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">616</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">524</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">515</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,174</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,726</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">884</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">726</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">611</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">590</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,332</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2.3</font> billion relating to fiber supply agreements entered into at the time of the Company's 2006 Transformation Plan forestland sales. </i></font></p></td></tr></table></div> </div> In millions
2011
2012
2013
2014
2015
Thereafter
Lease false false false false false | Other us-types:textBlockItemType string Schedule of Operating Lease And Purchase Obligations [Text Block] No authoritative reference available. false false Future Minimum Commitments Under Existing Non-Cancelable Operating Leases and Purchase Obligations
1 2 Commitments and Contingent Liabilities (Tables) UnKnown <
SharesRoundingLevel>UnKnownUnKnown UnKnown false true
XML
46
R41.xml
IDEA: Postretirement Benefits (Tables)
2.2.0.25 false false 31603 - Disclosure - Postretirement Benefits (Tables) true false false 1 false false USD false false 1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 true 0 ip_PostretirementBenefitsAbstractip false na duration Postretirement Benefits [Abstract] false false false false false false false false false false 1 false false false 0 0 false falsefalse false false | Other xbrli:stringItemType string Postretirement Benefits [Abstract] false false Postretirement Benefits
3 false 0 ip_OtherPostretirementBenefitsDisclosureTextBlock ip false na duration Other Postretirement Benefits Disclosure false false false false false
false false false false false terselabel 1 false false false 0 0 <div> <div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service credits</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(29</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(38</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net postretirement benefit expense (a)</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Excludes $<font class="_mt">0.8</font> million of curtailment gains in 2008 and $<font class="_mt">2.8</font> million and $<font class="_mt">0.5</font> million of termination benefits in 2009 and 2008, respectively, related to cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations. </i></font></p></td></tr></table></div> </div> In millions
2010
2009
2008
Service false false false false false | Other us-types:textBlockItemType string Other Postretirement Benefits Disclosure No authoritative reference available. false false Other Postretirement Benefits Disclosure
4 false 0 us-gaap_ScheduleOrDescriptionOfWeightedAverageDiscountRateTextBlock us-gaap true na duration No definition available. false false false false false false false false false false label 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.40</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.90</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.90</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table> </div>
2010
2009
2008
Discount false false false false false | Other us-types:textBlockItemType string Disclosure of the average discount rate in the country of origin applied to insurance contracts to determine future policy benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made. This disclosure includes the discount rate applied to insurance contracts on a weighted average basis to determine future
policy benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made. The average rate of assumed investment yields Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 60
-Paragraph 60
-Subparagraph b
false false Other Postretirement Benefits Schedule of Weighted Average Discount Rate
5 false 0 ip_BenefitObligationsWeightedAverageAssumptionsDisclosureTextBlock ip false na duration Benefit Obligations Weighted Average Assumptions Disclosure [Text Block] false false false false false false false false false false ters
elabel 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.30</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Health care cost trend rate assumed for next year</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.50</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate that the cost trend rate gradually declines to</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.00</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Year that the rate reaches the rate it is assumed to remain</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2017</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2017</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div>
2010
2009
Discount rate
5.30
%
5.40
%
Health care cost trend false false false false false | Other us-types:textBlockItemType string Benefit Obligations Weighted Average Assumptions Disclosure [Text Block] No authoritative reference available. false false Benefit Obligations Weighted Average Assumptions Disclosure
6 false 0 ip_PensionAndOtherPostretirementBenefitsChangesInBenefitObligationAndFairValueOfPlanAssetsDisclosureTextBlock ipfalse na duration Pension and Other Postretirement Benefits, Changes in Benefit Obligation and Fair Value of Plan Assets Disclosure [Text... false false false false false false false false false false terselabel 1 false false false 0 0 <div> <table border="0" cel
lspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="78%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>473</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">596</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Participants' contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(110</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(114</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: Federal subsidy</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plan amendments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special termination benefits</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>62</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Participants' contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(110</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(114</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet under ASC 715:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(48</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(377</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(427</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(425</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(473</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income under ASC 715:<br />(pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>66</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">99</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service credit</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(60</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(91</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div> In millions
2010
2009
Change in projected benefit obligation:
Benefit obligation, false false false false false | Other us-types:textBlockItemType string Pension and Other Postretirement Benefits, Changes in Benefit Obligation and Fair Value of Plan Assets Disclosure [Text Block] No authoritative reference available. false false Pension and Other Postretirement Benefits, Changes in Benefit Obligation and Fair Value of Plan Assets Disclosure
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etirementBenefitsRecognizedInAccumulatedComprehensiveLossDisclosureTextBlock ip false na duration Pension and Other Postretirement Benefits, Recognized in Accumulated Comprehensive Loss Disclosure [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0<div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom">
<p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service credit</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr></table> </div> In millions
Current year actuarial gain
$
(21
)
Amortization of actuarial false false false false false | Other us-types:textBlockItemType string Pension and Other Postretirement Benefits, Recognized in Accumulated Comprehensive Loss Disclosure [Text Block] No authoritative reference available. false false Pension and Other Postretirement Benefits, Recognized in Accumulated Comprehensive Loss Disclosure
8 false 0 ip_OtherPostretirementBenefitsExpectedFutureBen
efitPaymentsDisclosureTextBlock ip false na duration Other Postretirement Benefits, Expected Future Benefit Payments Disclosure [Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div> <table
border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Payments</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Subsidy</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Receipts</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">59</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2016 – 2020</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div> In false false false false false | Other us-types:textBlockItemType string Other Postretirement Benefits, Expected Future Benefit Payments Disclosure [Text Block] No authoritative reference available. false false Other Postretirement Benefits, Ex
pected Future Benefit Payments Disclosure
1 7 Postretirement Benefits (Tables) UnKnown UnKnown UnKnown UnKnown false true
XML
47
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USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 false false USD false false 1/1/2009 - 12/31/2009
USD ($)
USD ($) / shares
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1
Includes a pre-tax charge of $18 million ($11 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $12 million ($7 million after taxes) for closure costs related to the Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $13 million ($8 million after taxes) for early debt extinguishment costs, a pre-tax charge of $5 million ($3 million after taxes) for severance and benefit costs associated with the Company's S&A reduction initiative, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the shutdown of three box plants in Asia, a pre-tax gain of $25 million ($15 million after taxes) related to the partial redemption of the Company's interest in Arizona Chemical, a charge of $2 million, before and after taxes, for asset im
pairment costs associated with the Inverurie, Scotland mill which was closed in 2009 and a net pre-tax gain of $2 million ($1 million after taxes) for other items. 2
Includes a pre-tax charge of $111 million ($68 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $46 million of accelerated depreciation and $36 million of environmental closure costs), a pre-tax charge of $18 million ($11 million after taxes) for early debt extinguishment costs, a pre-tax charge of $11 million ($7 million after taxes) for an Ohio Commercial Activity tax adjustment and charges of $4 million ($2 million after taxes) for other items. 3
Includes a pre-tax charge of $204 million ($124 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $190 million of accelerated depreciation), a pre-tax charge of $4 million ($2 million after taxes) for early debt extinguishment costs, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations and charges of $4 million, before and after taxes, for other items. 4
Includes a pre-tax gain of $516 million ($469 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $15 million ($10 million after taxes) for integration costs associated with the CBPR acquisition, pre-tax charges of $469 million ($286 million after taxes), $290 million ($177 million after taxes) and $102 million ($62 million after taxes) for shutdown costs for the Albany, Oregon, Franklin, Virginia, and Pineville, Louisiana mills, respectively, a pre-tax charge of $82 million ($50 million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $23 million ($15 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $58 million ($35 million after taxes) for early debt extinguishment costs, a charge of $9 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in Franc
e, a pre-tax charge of $8 million to write down the assets at the Etienne mill to estimated fair value, pre-tax charges of $5 million ($3 million after taxes) and $2 million ($1 million after taxes) for costs associated with the reorganization of the Company's xpedx and Shorewood operations, respectively, and a pre-tax charge of $3 million ($0 million after taxes) for other items. 5
Includes a pre-tax gain of $525 million ($320 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $39 million ($24 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $102 million ($62 million after taxes) for early debt extinguishment costs, a charge of $7 million, before and after taxes, for costs associated with the planned closure of the Etienne mill in France, and a pre-tax charge of $3 million ($2 million after taxes) for other items. 6
Includes a pre-tax gain of $482 million ($294 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $34 million ($21 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $25 million ($16 million after taxes) for early debt extinguishment costs, a charge of $15 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $48 million, before and after taxes, to write down the assets of the Etienne mill to estimated fair value and a pre-tax charge of $5 million ($3 million after taxes) for other items. 7
Includes a pre-tax gain of $540 million ($330 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $36 million ($22 million after taxes) for integration costs associated with the Containerboard, Packaging and Recycling business (CBPR) acquired in August 2008, a pre-tax charge of $52 million ($32 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $23 million ($28 million after taxes) for closure costs associated with the Inverurie, Scotland mill, a pre-tax charge of $6 million ($4 million after taxes) for shutdown costs associated with the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center, and a pre-tax charge of $2 million ($1 million after taxes) for shutdown costs associated with the reorganization of the Company's Shorewood operations. 11 4 Income
Taxes (Components of Earnings from Continuing Operations Before Income Taxes and Equity Earnings by Taxing Jurisdiction) (Detail) (USD $) Millions UnKnown UnKnown UnKnown false true
XML
50
R58.xml
IDEA: Acquisitions (Identifiable Intangible Assets Acquired in Connection with CBPR Acquisition) (Details)
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{us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis} : Tradenames [Member]
1/1/2008 - 12/31/2008
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$ 1 false 0 ip_AcquiredIntangibleAssetsNet ip false debit instant Sum of the carrying amounts of all intangible assets acquired in a business combination as of the balance sheet date, net of... false false false false false false false false false false terselabel
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1/1/2008 - 12/31/2008
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1/1/2008 - 12/31/2008
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major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. No authoritative reference available. false false Average remaining useful life of identifiable intangible assets, minimum
9 false 0 us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMaximum us-gaap true na duration No definition available. false false false false false fals
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{us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis} : Proprietary Software [Member]
1/1/2008 - 12/31/2008
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{us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis} : Power Agreements [Member]
1/1/2008 - 12/31/2008
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USD ($)
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Water Rights [Member] us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis xbrldi http://xbrl.org/2006/xbrldi ip_WaterRightsMember us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other na No definition available.No authoritative reference available. false false Water Rights [Member]
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ElementReferences>No authoritative reference available.false false Estimated fair value of identifiable intangible assets
1 19 Acquisitions (Identifiable Intangible Assets Acquired in Connection with CBPR Acquisition) (Details) (Containerboard Packaging Recycling (CBPR) Business Acquisition [Member], USD $) Millions UnKnown UnKnown UnKnown true true
XML
51
R22.xml
IDEA: Retirement Plans
2.2.0.25 false false 11501 - Disclosure - Retirement Plans true false false 1 false false USD false false 1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 true 0 ip_RetirementPlansAbstract <
ElementPrefix>ipfalse na duration Retirement Plans [Abstract] false false false false false false false false false false 1 false false false 0 0 false false
false false false | Other xbrli:stringItemType string Retirement Plans [Abstract] false false Retirement Plans
3 false 0 us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock us-gaap true na duration No definition available. false false false false false falsefalse false false false terselabel 1 false false false 0 0 <div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 15 RETIREMENT PLANS </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>U.S. DEFINED BENEFIT PLANS </b></font></p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper sponsors and maintains the Retirement Plan of International Paper Company (the "Pension Plan"), a tax-qualified defined benefit pension plan that provides retirement benefits to substantially all U.S. salaried employees and hourly employees (receiving salaried benefits) hired prior to July 1, 2004, and substantially all other U.S. hourly and union employees who work at a participating business unit regardless of hire date. These employees generally are eligible to participate in the Pension Plan upon attaining 21 years of age and completing one year of eligibility service. U.S. salaried employees and hourly employees (receiving salaried benefits) hired after June 30, 2004, are not eligible to participate in the Pension Plan, but receive a company contribution to their individual savings plan accounts (see "Other U.S. Plans" on page 85). The
Pension Plan provides defined pension benefits based on years of credited service and either final average earnings (salaried employees and hourly employees receiving salaried benefits), hourly job rates or specified benefit rates (hourly and union employees). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Former Weyerhaeuser Company salaried and hourly employees acquired by International Paper in the CBPR acquisition became participants in the Pension Plan if they were hired by Weyerhaeuser prior to July 1, 2004. Acquired salaried employees and hourly employees (receiving salaried benefits) hired by Weyerhaeuser after June 30, 2004 are not eligible to participate in the Pension Plan and instead receive a company contribution to their savings plan accounts. </font></p></div><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with the CBPR acquisition, International Paper assumed sponsorship in 2008 of the Western Kraft, Albany, Oregon, Hourly Employees' Retirement Plan, a defined benefit pension plan covering hourly employees at the Albany, Oregon mill. The assets and liabilities of that plan were merged into the Pension Plan as of December 31, 2009. </font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company's funding policy for the Pension Plan is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that the Company may determine to be appropriate considering the funded status of the plans, tax deductibility, cash flow generated by the Company, and other factors. The Company continually reassesses the amount and timing of any discretionary contributions. Voluntary contributions totaling $<font class="_mt">1.15</font> billion were made by the Company in 2010. No contributions were made in 2009 or 2008. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company also has two unfunded nonqualified defined benefit pension plans: a Pension Restoration Plan available to employees hired prior to July 1, 2004 that provides retirement benefits based on eligible compensation in excess of limits set by the Internal Revenue Service, and a supplemental retirement plan for senior managers (SERP), which is an alternative retirement plan for salaried employees who are senior vice presidents and above or who are designated by the chief executive officer as participants. These nonqualified plans are only funded to the extent of benefits paid, which totaled $<font class="_mt">37</font> million, $<font class="_mt">35</font> million and $<font class="_mt">24</font> million in 2010, 2009 and 2008, respectively, and which are expected to be $<font class="_mt">36</font> million in 2011. <
;/font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Net Periodic Pension Expense </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Service cost is the actuarial present value of benefits attributed by the plans' benefit formula to services rendered by employees during the year. Interest cost represents the increase in the projected benefit obligation, which is a discounted amount, due to the passage of time. The expected return on plan assets reflects the computed amount of current-year earnings from the investment of plan assets using an estimated long-term rate of return. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Net periodic pension expense for qualified and nonqualified U.S. defined benefit plans comprised the following: </font></p></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>116</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">540</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(631</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(634</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(672</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">160</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net periodic pension expense (a)</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>231</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">213</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">123</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Excludes $<font class="_mt">1.1</font> million in 2008 in curtailment losses, and $<font class="_mt">83.2</font> million and $<font class="_mt">13.9</font> million in 2009 and 2008, respectively, of termination benefits, in connection with cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations. </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The increase in 2010 pension expense reflects a decrease in the assumed discount rate to <font class="_mt">5.80</font>% in 2010 from <font class="_mt">6.00</font>% in 2009 and higher amortization of unrecognized actuarial losses. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper evaluates its actuarial assumptions annually as of December 31 (the measurement date) and considers changes in these long-term factors based upon market conditions and the requirements for employers' accounting for pensions. These assumptions are used to calculate benefit obligations as of December 31 of the current year and pension expense to be recorded in the following year (i.e., the discount rate used to determine the benefit obligation as of December 31, 2010 was also the discount rate used to determine net pension expense for the 2011 year). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Weighted average assumptions used to determine net pension expense for 2010, 2009 and 2008 were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.80</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.75</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Weighted average assumptions used to determine benefit obligations as of December 31, 2010 and 2009, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5.60</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5.80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.75</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.75</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The expected long-term rate of return on plan assets is based on projected rates of return for current and planned asset classes in the plan's investment portfolio. Projected rates of return are developed through an asset/liability study in which projected returns for each of the plan's asset classes are determined after analyzing historical experience and future expectations of returns and volatility of the various asset classes. Based on the target asset allocation for each asset class, the overall expected rate of return for the portfolio is developed considering the effects of active portfolio management and expenses paid from plan assets. The discount rate assumption was determined based on a yield curve that incorporates approximately <font class="_mt">500</font> Aa-graded bonds. The plan's projected cash flows were then matched to the yield curve to d
evelop the discount rate. To calculate pension expense for 2011, the Company will use an expected long-term rate of return on plan assets of <font class="_mt">8.25</font>%, a discount rate of <font class="_mt">5.60</font>% and an assumed rate of compensation increase of <font class="_mt">3.75</font>%. The Company estimates that it will record net pension expense of approximately $<font class="_mt">179</font> million for its U.S. defined benefit plans in 2011, with the decrease from expense of $<font class="_mt">231</font> million in 2010 reflecting increased plan assets and higher than expected asset returns in 2010, partially offset by a decrease in the discount rate. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify">The following illustrates the effect on pension expense for 2011 of a 25 basis point decrease in the above assumptions: </p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expense/(Income):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Investment Policy / Strategy </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper's Board of Directors has appointed a Fiduciary Review Committee that is responsible for fiduciary oversight of the Pension Plan, approving investment policy and reviewing the management and control of plan assets. Pension Plan assets are invested to maximize returns within prudent levels of risk. The Pension Plan maintains a strategic asset allocation policy that designates target allocations by asset class. Investments are diversified across classes and within each class to minimize the risk of large losses. Derivatives, including swaps, forward and futures contracts, may be used as asset class substitutes or for hedging or other risk management purposes. Periodic reviews are made of investment policy objectives and investment manager performance. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper's pension allocations by type of fund at December 31, and target allocations were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="62%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Asset Class</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Target</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Allocations</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equity accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>49</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">40% - 51%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fixed income accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">30% - 40%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Real estate accounts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">7% - 13%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">9% - 18%</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>100</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">100</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The fair values of International Paper's pension plan assets at December 31, 2010 by asset class are shown below. Plan assets included an immaterial amount of International Paper common stock at December 31, 2010. No International Paper shares were included in plan assets in 2009. Hedge funds disclosed in the following table are allocated equally between equity and fixed income accounts for target allocation purposes. Cash and cash equivalent portfolios are allocated to the types of account from which they originated. Mortgage backed securities were transferred from significant unobservable inputs (Level 3) in 2009 to significant observable inputs (Level 2) in 2010 as a result of identifying observable market data for the securities. </font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="44%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="16" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value Measurement at December 31, 2010</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Asset Class</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quoted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Prices</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">in</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Active</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Markets</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">For</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Identical</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 1)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Significant</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Observable</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Inputs</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 2)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Significant</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Unobservable</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Inputs</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Level 3)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equities - domestic</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,921</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">860</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Equities - international</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,317</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,005</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">312</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Common collective funds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">305</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">291</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate bonds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">817</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">817</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Government securities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">936</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">936</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Mortgage backed securities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other fixed income</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Commodities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">264</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">234</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Hedge funds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">681</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">662</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Private equity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">415</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">415</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Real estate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">650</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Derivatives</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">349</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">338</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and cash equivalents</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">465</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">460</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total Investments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,880</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4,142</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,322</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Equity securities consist primarily of publicly traded U.S. companies and international companies and common collective funds. Publicly traded equities are valued at the closing prices reported in the active market in which the individual securities are traded. Common collective funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Fixed income consists of corporate bonds, government securities, and common collective funds. Government securities are valued by third-party pricing sources. Corporate bonds are valued using either the yields currently available on comparable securities of issuers with similar credit ratings or using a discounted cash flows approach that utilizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks. Common collective funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Commodities consist of commodity-linked notes and commodity-linked derivatives. Commodities are valued at closing prices determined by calculation agents for outstanding transactions. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><font class="_mt" size="1"> </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Hedge funds are investment structures that pursue a diverse array of investment strategies with a wide range of different securities and derivative instruments. These investments are made through funds-of-funds (commingled, multi-manager fund structures) and through direct investments in individual hedge funds. Hedge funds are primarily valued by each fund's third party administrator based upon the valuation of the underlying securities and instruments and primarily by applying a market or income valuation methodology as appropriate depending on the specific type of security or instrument held. Funds-of-funds are valued based upon the net asset values of the underlying investments in hedge funds. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Private equity consists of interests in partnerships that invest in U.S. and non-U.S. debt and equity securities. Partnership interests are valued using the most recent general partner statement of fair value, updated for any subsequent partnership interest cash flows. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Real estate includes commercial properties, land and timberland, and generally includes, but is not limited to, retail, office, industrial, multifamily and hotel properties. Real estate holdings, taken together, are intended to have characteristics similar to, but not necessarily equal to, the National Council of Real Estate Investment Fiduciaries (NCREIF) Property Index. Real estate fund values are primarily reported by the fund manager and are based on valuation of the underlying investments which include inputs such as cost, discounted cash flows, independent appraisals and market based comparable data. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Derivative investments such as futures, forward contracts, options, and swaps are used to help manage risks. Derivatives are generally employed as asset class substitutes (such as when employed within a portable alpha strategy), for managing asset/liability mismatches, or bona fide hedging or other appropriate risk management purposes. Derivative instruments are generally valued by the investment managers or in certain instances by third party pricing sources. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The fair value measurements using significant unobservable inputs (Level 3) at December 31, 2010 were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font size="2" class="_mt"> </font> </p></div>
<div class="MetaData">
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Fair Value Measurements Using Significant </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Unobservable Inputs (Level 3) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="45%"> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equities-</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Domestic</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equities-</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>International</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fixed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Common</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Collective</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Corporate</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Bonds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Government</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Securities</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Mortgage</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Backed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Securities</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Other</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fixed</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Income</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Comm-<br />odities</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Hedge</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funds</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Private</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Equity</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Real</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Estate</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Deriv-<br />atives</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Beginning balance at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"> 668</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">344</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">457</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,150</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Actual return on plan assets:</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Relating to assets still held at the reporting date</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>43</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>68</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>210</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Relating to assets sold during the period</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>65</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Purchases, sales and settlements</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(18</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(18</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>45</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>150</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(64</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>68</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Transfers in and/or out of Level 3 (a)</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(175</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(176</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Ending balance at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>234</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>662</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>415</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>650</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>338</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,322</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Transferred out of Level 3 to Level 2 because market data for these securities was observable. </i></font></p></td></tr></table></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, projected future pension benefit payments, excluding any termination benefits, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="89%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2011</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">628</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2012</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">622</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2013</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">624</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2014</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">630</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2015</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">639</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2016 – 2020</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,348</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Pension Plan Asset / Liability </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">As required by ASC 715, "Compensation – Retirement Benefits," the pension plan funded status must be recorded on the consolidated balance sheet. Therefore, pension plan gains or losses and prior service costs not yet recognized in net periodic cost are recognized on a net-of-tax basis in OCI. These amounts will be subject to amortization in the future. At December 31, 2010, the fair value of plan assets for the Pension Plan was less than the projected benefit obligation (PBO). However, the deficit was lower than at December 31, 2009, resulting in a decrease in the recorded minimum pension obligation of $<font class="_mt">1.3</font> billion and an after-tax credit to OCI of $<font class="_mt">92</font> million. An after-tax credit to OCI of $<font class="_mt">318</font> million and an after-tax charge to OCI of $<
font class="_mt">1.8</font> billion had been recorded for 2009 and 2008, respectively. For the unfunded nonqualified plans, changes in the liabilities resulted in after-tax charges to OCI of $<font class="_mt">19</font> million, $<font class="_mt">9</font> million and $<font class="_mt">5</font> million in 2010, 2009 and 2008, respectively. In 2008, in conjunction with the CBPR business acquisition, the Company acquired a small overfunded pension plan covering hourly employees at the Albany, Oregon mill. For this plan, the Company recorded an after-tax charge to OCI of $<font class="_mt">13</font> million at December 31, 2008. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font> </p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The accumulated benefit obligation for all defined benefit plans was $<font class="_mt">9.6</font> billion and $<font class="_mt">9.3</font> billion at December 31, 2010 and 2009, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table summarizes information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2010 and 2009. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Projected benefit obligation</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,824</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,544</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated benefit obligation</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,594</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,312</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,784</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Unrecognized Actuarial Losses </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">ASC 715, "Compensation – Retirement Benefits" provides for delayed recognition of actuarial gains and losses, including amounts arising from changes in the estimated projected plan benefit obligation due to changes in the assumed discount rate, differences between the actual and expected return on plan assets and other assumption changes. These net gains and losses are recognized prospectively over a period that approximates the average remaining service period of active employees expected to receive benefits under the plans (approximately <font class="_mt">9</font> years as of December 31, 2010) to the extent that they are not offset by gains in subsequent years. The estimated net loss and prior service cost that will be amortized from AOCI into net periodic pension cost during the next fiscal year are expected to be $<font class="_mt"
>204</font> million and $<font class="_mt">31</font> million, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table shows the changes in the benefit obligation and plan assets for 2010 and 2009, and the plans' funded status. The benefit obligation as of December 31, 2010 increased by $<font class="_mt">281</font> million, principally as a result of a decrease in the discount rate assumption used in computing the estimated benefit obligation. Plan assets increased by $<font class="_mt">1.6</font> billion, reflecting favorable investment results and the $<font class="_mt">1.15</font> billion voluntary contribution. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,544</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,275</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>116</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>541</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>264</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">134</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(646</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(617</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Special termination benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plan amendments</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,824</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,544</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,784</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,079</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actual return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,019</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,287</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,187</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(646</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(617</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,344</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,784</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,480</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,760</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top" colspan="8">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet:</font></p></td>
<td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(41</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,444</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,719</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,480</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,760</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,412</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,712</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>183</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">206</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,595</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,918</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The components of the $<font class="_mt">323</font> million decrease in the amounts recognized in OCI during 2010 consisted of: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="89%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment effects</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(123</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(174</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year prior service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization of prior service cost</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(323</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The portion of the change in the funded status that was recognized either in net periodic benefit costs or OCI was $<font class="_mt">(92)</font> million, $<font class="_mt">(483)</font> million and $<font class="_mt">3</font> billion for 2010, 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>NON-U.S. DEFINED BENEFIT PLANS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Generally, International Paper's non-U.S. pension plans are funded using the projected benefit as a target, except in certain countries where funding of benefit plans is not required. Net periodic pension expense for non-U.S. plans was as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="71%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment gain</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlement gain</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net periodic pension expense</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Weighted average assumptions used to determine net pension expense for 2010, 2009 and 2008 were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6.45%</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.37%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.40%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected long-term rate of return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8.20%</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.88%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8.87%</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4.06%</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.81%</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.55%</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Weighted average assumptions used to determine benefit obligations as of December 31, 2010 and 2009, were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Discount rate</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6.01</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6.45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Rate of compensation increase</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3.07</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>% </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4.06</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">% </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table shows the changes in the benefit obligation and plan assets for 2010 and 2009, and the plans' funded status as of December 31, 2010 and 2009. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in projected benefit obligation:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefit obligation, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>186</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">168</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of foreign currency exchange rate movements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(5</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Benefit obligation, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>183</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">186</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Change in plan assets:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fair value of plan assets, January 1</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>150</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">115</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Actual return on plan assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Company contributions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Benefits paid</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Effect of foreign currency exchange rate movements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair value of plan assets, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>156</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">150</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Funded status, December 31</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(36</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in the consolidated balance sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current asset</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-current liability</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(38</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(46</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(27</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(36</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amounts recognized in accumulated other comprehensive income (pre-tax):</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Prior service cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net actuarial loss (gain)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The components of the $<font class="_mt">2</font> million increase in the amounts recognized in OCI during 2010 consisted of: </font></p></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="92%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Current year actuarial loss</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Curtailment effects</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Settlements</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The portion of the change in the funded status that was recognized in either net periodic benefit cost or OCI was $<font class="_mt">1</font> million, $<font class="_mt">(11)</font> million and $<font class="_mt">40</font> million for 2010 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">For non-U.S. plans with accumulated benefit obligations in excess of plan assets, the projected benefit obligations, accumulated benefit obligations and fair values of plan assets totaled $<font class="_mt">42</font> million, $<font class="_mt">34</font> million and $<font class="_mt">2</font> million, respectively, at December 31, 2010. Plan assets consist principally of common stock and fixed income securities. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>OTHER U.S. PLANS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper sponsors the International Paper Company Salaried Savings Plan and the International Paper Company Hourly Savings Plan, both of which are tax-qualified defined contribution 401(k) savings plans. Substantially all U.S. salaried and certain hourly employees are eligible to participate and may make elective deferrals to such plans to save for retirement. International Paper makes matching contributions to participant accounts on a specified percentage of employee deferrals as determined by the provisions of each plan. For eligible employees hired after June 30, 2004, the Company makes Retirement Savings Account contributions equal to a percentage of an eligible employee's pay. From February 1, 2009 to December 31, 2010, matching contributions to the International Paper Salaried Savings Plan were made in Company stock. Beginning in Janu
ary 2011, matching contributions to the International Paper Salaried Savings Plan will be made in the form of cash contributions. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company also sponsors the International Paper Company Deferred Compensation Savings Plan, which is an unfunded nonqualified defined contribution plan. This plan permits eligible employees to continue to make deferrals and receive company matching contributions when their contributions to the International Paper Salaried Savings Plan are stopped due to limitations under U.S. tax law. Participant deferrals and company matching contributions are not invested in a separate trust, but are paid directly from International Paper's general assets at the time benefits become due and payable. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Company matching contributions to the plans totaled approximately $<font class="_mt">87</font> million, $<font class="_mt">121</font> million and $<font class="_mt">80</font> million for the plan years ending in 2010, 2009 and 2008, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p> </div> NOTE 15 RETIREMENT PLANS
U.S. DEFINED BENEFIT PLANS
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12/31/2009
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12/31/2010
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12/31/2009
USD ($)
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12/31/2010
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12/31/2009
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12/31/2009
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12/31/2009
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12/31/2010
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12/31/2009
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1
Includes $3 million recorded in Accounts and notes receivable, net, and $7 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. 2
Includes $2 million recorded in Accounts and notes receivable, net and $3 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. 3
Included in Other liabilities in the accompanying consolidated balance sheet. 4
Included in Other current assets in the accompanying consolidated balance sheet. 5
Includes $13 million recorded in Other current assets and $3 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. 6
Included in Other accrued liabilities in the accompanying consolidated balance sheet. 7
Includes $27 million recorded in Other accrued liabilities and $5 million recorded in Other liabilities in the accompanying consolidated balance sheet. 8
Includes $26 million recorded in Other accrued liabilities and $12 million recorded in Other liabilities in the accompanying consolidated balance sheet. 9
Includes $13 million recorded in Other current assets and $5 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. 10
Includes $23 million recorded in Other accrued liabilities and $6 million recorded in Other liabilities in the accompanying consolidated balance sheet. 2 39 Derivatives and Hedging Activities (Summary of the Impact of Derivative Instruments in Consolidated Balance Sheet) (Parenthetical) (Details) (USD $) Millions UnKnown UnKnown UnKnown false true
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USD ($)
USD ($) / shares
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USD ($)
USD ($) / shares
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1
Includes a pre-tax charge of $18 million ($11 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $12 million ($7 million after taxes) for closure costs related to the Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $13 million ($8 million after taxes) for early debt extinguishment costs, a pre-tax charge of $5 million ($3 million after taxes) for severance and benefit costs associated with the Company's S&A reduction initiative, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the shutdown of three box plants in Asia, a pre-tax gain of $25 million ($15 million after taxes) related to the partial redemption of the Company's interest in Arizona Chemical, a charge of $2 million, before and after taxes, for asset im
pairment costs associated with the Inverurie, Scotland mill which was closed in 2009 and a net pre-tax gain of $2 million ($1 million after taxes) for other items. 2
Includes a pre-tax charge of $111 million ($68 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $46 million of accelerated depreciation and $36 million of environmental closure costs), a pre-tax charge of $18 million ($11 million after taxes) for early debt extinguishment costs, a pre-tax charge of $11 million ($7 million after taxes) for an Ohio Commercial Activity tax adjustment and charges of $4 million ($2 million after taxes) for other items. 3
Includes a pre-tax charge of $204 million ($124 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $190 million of accelerated depreciation), a pre-tax charge of $4 million ($2 million after taxes) for early debt extinguishment costs, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations and charges of $4 million, before and after taxes, for other items. 4
Includes a pre-tax gain of $516 million ($469 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $15 million ($10 million after taxes) for integration costs associated with the CBPR acquisition, pre-tax charges of $469 million ($286 million after taxes), $290 million ($177 million after taxes) and $102 million ($62 million after taxes) for shutdown costs for the Albany, Oregon, Franklin, Virginia, and Pineville, Louisiana mills, respectively, a pre-tax charge of $82 million ($50 million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $23 million ($15 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $58 million ($35 million after taxes) for early debt extinguishment costs, a charge of $9 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in Franc
e, a pre-tax charge of $8 million to write down the assets at the Etienne mill to estimated fair value, pre-tax charges of $5 million ($3 million after taxes) and $2 million ($1 million after taxes) for costs associated with the reorganization of the Company's xpedx and Shorewood operations, respectively, and a pre-tax charge of $3 million ($0 million after taxes) for other items. 5
Includes a pre-tax gain of $525 million ($320 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $39 million ($24 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $102 million ($62 million after taxes) for early debt extinguishment costs, a charge of $7 million, before and after taxes, for costs associated with the planned closure of the Etienne mill in France, and a pre-tax charge of $3 million ($2 million after taxes) for other items. 6
Includes a pre-tax gain of $482 million ($294 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $34 million ($21 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $25 million ($16 million after taxes) for early debt extinguishment costs, a charge of $15 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $48 million, before and after taxes, to write down the assets of the Etienne mill to estimated fair value and a pre-tax charge of $5 million ($3 million after taxes) for other items. 7
Includes a pre-tax gain of $540 million ($330 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $36 million ($22 million after taxes) for integration costs associated with the Containerboard, Packaging and Recycling business (CBPR) acquired in August 2008, a pre-tax charge of $52 million ($32 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $23 million ($28 million after taxes) for closure costs associated with the Inverurie, Scotland mill, a pre-tax charge of $6 million ($4 million after taxes) for shutdown costs associated with the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center, and a pre-tax charge of $2 million ($1 million after taxes) for shutdown costs associated with the reorganization of the Company's Shorewood operations. 11 19 Incom
e Taxes (Reconciliation of Income Tax Expense Using Statutory U.S. Income Tax Rate Compared with Actual Income Tax Provision) (Details) (USD $) Millions UnKnown UnKnown UnKnown true true
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USD ($)
USD ($) / shares
$ Duration_1_1_2008_To_12_31_2008 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 true 0 us-gaap_RestructuringChargesAbstractus-gaap true na duration No definition available. false false false false false false false false false false 1 false false false 0 0 false falsefalse false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | Other xbrli:stringItemType string No definition available. false false Restructuring Charges and Other Items
3 false 0 ip_RestructuringAndOtherChargesTableTextBlock ip false na duration Restructuring and Other Charges [Table Text Block] false false false false falsefalse false false false false terselabel 1 false false false 0 0 <div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="78%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Before-Tax</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>After-Tax</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Franklin, Virginia mill – closure costs</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 192</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Early debt extinguishment costs (see Notes 12 and 13)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Write-off of Ohio Commercial Activity tax receivable</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shorewood Packaging reorganization</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Bellevue, Washington container facility – closure costs</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>S&A reduction initiative</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Spartanburg, South Carolina container facility – closure costs</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Etienne mill – severance and other costs</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Other</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b> 242</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px; font-size: 1px;"> </p></div> </div>
In millions
Before-Tax
Charges
After-Tax
Charges
Franklin, Virginia mill – closure false false false false false | 2 false false false 0 0 <div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><strong><font size="2" class="_mt"> </font></strong> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Before-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">After-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Albany, Oregon containerboard mill – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">469</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">286</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Franklin, Virginia paper mill and associated operations – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">290</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Early debt extinguishment costs (see Notes 12 and 13)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">185</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">113</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 overhead reduction program – severance and benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">92</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pineville, Louisiana containerboard mill – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Valliant, Oklahoma containerboard mill – paper machine shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Etienne mill – severance and other costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inverurie mill – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">853</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div> </div>
In millions
Before-Tax
Charges
After-Tax
Charges
Albany, Oregon containerboard mill – false false false false false | 3 false false false 0 0 <div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="65%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Before-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">After-Tax</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Charges</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Bastrop, Louisiana mill – shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Legal reserve adjustments (see Note 10)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 overhead reduction program – severance and benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Write-off of supply chain initiative development costs for U.S. container operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Franklin, Virginia mill – paper machine shutdown costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shorewood Packaging Canada – restructuring costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Ace Packaging – closure costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">227</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div> </div>
In millions
Before-Tax
Charges
After-Tax
Charges
Bastrop, Louisiana mill – shutdown false false false false false | Other us-types:textBlockItemType string Restructuring and Other Charges [Table Text Block] No authoritative reference available. false false Restructuring and Other Charges
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<div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="54%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>First</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Second</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Third</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fourth</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Industrial Packaging</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a,b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(b)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(c)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Printing Papers</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>204<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>111<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Consumer Packaging</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3 <sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1 <sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Corporate</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>52</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>215</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>144</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $2 million of other charges related to the shutdown of the Pineville, Louisiana mill and $1 million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $3 million of severance charges related to the shutdown of the Etienne mill in France. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes a gain of $2 million related to the shutdown of the Albany, Oregon mill; a $3 million charge to write down the value of land, $2 million of accelerated depreciation and $2 million of severance charges related to the closure of the Bellevue, Washington container facility; $1 million of accelerated depreciation, $2 million of severance charges and $2 million of other charges related to the closure of the Spartanburg, South Carolina container facility; and $2 million of severance charges and $1 million of other costs related to the closure of certain of the Company's Asian box plants. </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $236 million of accelerated depreciation, $36 million of environmental closure costs, $30 million of severance charges and $13 million of other charges related to the shutdown of the Franklin, Virginia mill </i></font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $3 million of accelerated depreciation, $1 million of severance charges and $4 million of other charges related to the reorganization of the Company's Shorewood operations.</i></font></p></td></tr></table></div></div> </div>
In false false false false false | 2 false false false 0 0 <div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><font size="2" class="_mt"> </font> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="51%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>First</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Second</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Third</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fourth</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Quarter</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaing</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">662<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(a,b</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">684</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">c,d)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(d)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">223<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(e)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(f)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">69<sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;"> </sup></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">(</sup><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline;">f,g)</sup> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">59</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">141</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">81</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">333</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">79</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">151</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,040</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $19 million of severance charges and $12 million of other charges related to the shutdown of the Etienne mill in France. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $82 million of accelerated depreciation and other noncash charges, $9 million of severance charges, $10 million of environmental charges and $1 million of other charges related to the shutdown of the Pineville, Louisiana mill; $438 million of accelerated depreciation and other noncash charges, $21 million of severance charges and benefit costs, $9 million of environmental charges and $1 million of other charges related to the shutdown of the Albany, Oregon mill; and $81 million of accelerated depreciation and other noncash charges and $1 million of other charges related to the shutdown of a paper machine at the Valliant, Oklahoma mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $17 million of severance charges and $6 million of other charges related to the shutdown of the Inverurie mill in Scotland. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $5 million of severance charges and $3 million of other charges related to the shutdown of the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center and $3 million of charges related to the shutdown of the Bastrop, Louisiana mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $199 million of accelerated depreciation and other noncash charges, $23 million of severance charges and $1 million of other charges related to the shutdown of the Franklin, Virginia mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $3 million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $59 million of accelerated depreciation charges and other noncash charges, $7 million of severance charges and $1 million of other charges related to the shutdown of the Franklin, Virginia mill.</i></font></p></td></tr></table></div> </div>
In false false false false false | 3 false false false 0 0 <div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="53%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">First</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Second</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Third</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fourth</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Quarter</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(a) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">89</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">179</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">97</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $2 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges related to the closure of the Ace Packaging business. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $71 million of accelerated depreciation charges, $32 million of severance charges, $11 million of environmental expenses and $9 million of other charges related to the shutdown of the Bastrop, Louisiana mill, and $23 million of accelerated depreciation charges, $6 million of severance charges and $1 million of other charges related to the shutdown of a paper machine at the Franklin, Virginia mill. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $22 million of severance charges, $7 million of accelerated depreciation charges and $1 million of other charges related to the reorganization of the Company's Shorewood operations. </i></font></p></td></tr></table> </div>
In false false false false false | Other us-types:textBlockItemType string Restructuring and Other Charges by Business [Table Text Block] No authoritative reference available. false false Restructuring and Other Charges by Business
5 false 0 ip_SeveranceAndOtherCostsRestructuringChargesTableTextBlock ip false na durationSeverance and Other Costs Restructuring Charges [Table Text Block] false false false false false false false false false false terselabel 1 false false false 0 0 <div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><font size="2" class="_mt"> </font> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="81%"> </td>
<td valign="bottom" width="17%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Severance</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>and Other</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Opening balance (recorded first quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>20</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (second quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (third quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions (fourth quarter 2010)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>11</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010 activity</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cash charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(32</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance, December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table></div> </div>
In millions
Severance
and Other
Opening balance (recorded first quarter false false false false false | 2 false false false 0 0 <div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="81%"> </td>
<td valign="bottom" width="17%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Severance</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>and Other</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Opening balance (recorded first quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (second quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (third quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (fourth quarter 2009)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2009 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pension and postretirement termination benefits</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(85</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010 activity</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Cash charges</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(84</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance, December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div> </div>
In millions
Severance
and Other
Opening balance (recorded first quarter false false false false false | 3 false false false 0 0 <div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="83%"> </td>
<td valign="bottom" width="15%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Severance</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">and Other</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Opening balance (recorded first quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (second quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (third quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions (fourth quarter 2008)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">97</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2008 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">2009 activity</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash charges</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(96</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance, December 31, 2009</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div> </div>
In millions
Severance
and Other
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XML
55
R45.xml
IDEA: Valuation and Qualifying Accounts (Tables)
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USD ($)
USD ($) / shares
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INTERNATIONAL PAPER COMPANY AND CONSOLIDATED SUBSIDIARIES </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(In millions) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="36%"> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="9%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="13%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2010</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> <br /> </font><br />
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at<br />End of</font><br />
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> <br /> </font><br />
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>28</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(35)(a)</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>129</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>46</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(116)(b)</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="20"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2009</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">End of</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">54</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(39)(a)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">251</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(263)(b)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td height="16"> </td>
<td height="16" colspan="20"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="17" align="right"><font style="font-family: ARIAL;" class="_mt" size="2"><b>For the Year Ended December 31, 2008</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Beginning</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">of Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Earnings</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Additions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Charged to</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Other<br />Accounts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Deductions</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">from</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Balance at</font><br />
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">End of</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">Period</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><br />
<p style="margin-top: 0px; margin-bottom: 0px;"> </p>
<p style="margin-top: 0px; margin-bottom: 1px;"> </p></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 1.33em;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Description</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="2">Reserves Applied Against Specific Assets Shown on Balance Sheet:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Doubtful accounts – current</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">95</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2">(c) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(16)(a)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">121</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1.33em; margin-left: 4em;"><font style="font-family: ARIAL;" class="_mt" size="2">Restructuring reserves</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">(31)(b)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="2">96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="2"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes payments and deductions for reversals of previously established reserves that were no longer required. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Allowance for doubtful accounts acquired in the Weyerhaeuser Containerboard, Packaging and Recycling acquisition.</i></font></p></td></tr></table> </div> INTERNATIONAL PAPER COMPANY AND CONSOLIDATED SUBSIDIARIES
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS
(In millions)
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IDEA: Interim Financial Results (Unaudited) (Parenthetical) (Details)
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USD ($)
USD ($) / shares
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USD ($) / shares
USD ($)
$ Duration_4_1_2010_To_6_30_2010 http://www.sec.gov/CIK 0000051434 duration 2010-04-01T00:00:00 2010-06-30T00:00:00 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/iso4217 USDiso4217 0 USD USD $ 3 false false USD false false 1/1/2010 - 3/31/2010
USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_3_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-03-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 USD USD $ 4 false false USD false false 10/1/2009 - 12/31/2009
USD ($) / shares
USD ($)
$ Duration_10_1_2009_To_12_31_2009 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/iso4217 USDiso4217 0 USD USD $ 5 false false USD false false 7/1/2009 - 9/30/2009
USD ($)
USD ($) / shares
$ Duration_7_1_2009_To_9_30_2009 http://www.sec.gov/CIK 0000051434 duration 2009-07-01T00:00:00 2009-09-30T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 USD USD $ 6 false false USD false false 4/1/2009 - 6/30/2009
USD ($) / shares
USD ($)
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USD ($) / shares
USD ($)
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USD ($)
USD ($) / shares
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USD ($)
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USD ($)
USD ($) / shares
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USD ($)
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USD ($)
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USD ($)
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USD ($)
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10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_201024 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Inverurie Mill, Scotland [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_InverurieMillScotlandMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso
4217 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Inverurie Mill, Scotland [Member]
23 false 0 us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf us-gaap true debit durationNo definition available. false false false false false false false false false false 1 true false false 2000000 2 false false false falsefalse | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false <
hasScenarios>false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false fa
lse | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary The aggregate amount of write-downs for impairments recognized during the period for long-lived assets held for abandonment, exchange or sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 27, 28, 29, 30
false false Write down of long-lived assets of the mill to estimated fair value, before taxes
24 false 0 ip_ImpairmentOfLongLivedAssetsToBeDisposedOfNetOfTax ip false debit duration Impairment Of Long Lived Assets To Be Disposed Of, Net Of Tax false false false false false false false false false false terselabel1 true false false 2000000 2 false false false false false | 2 false false false 0 0 false false false false
false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false f
alse | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false
| Monetary xbrli:monetaryItemType monetary Impairment Of Long Lived Assets To Be Disposed Of, Net Of Tax No authoritative reference available. false false Write down of long-lived assets of the mill to estimated fair value, net of tax
25 false 0 na true na na No definition available. false true false false false falsefalse false false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 false false false false false | 2 false false false 0 0false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0<
/RoundedNumericAmount>false false false false false | 22 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Franklin, Virginia, Mill [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_20099 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Frankl
in, Virginia, Mill [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_FranklinVirginiaMillMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 23 fa
lse false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Franklin, Virginia, Mill [Member]
1/1/2009 - 3/31/2009
USD ($)
$ Duration_1_1_2009_To_3_31_200914 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-03-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Frankli
n, Virginia, Mill [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_FranklinVirginiaMillMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Otherna No definition available. No authoritative reference available. false false Restructuring - Fiscal 2009 Plan [Member] | Franklin, Virginia, Mill [Member]
26 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilities ip false debit duration Restructuring Charges Related To Restructured Closed Facilities false false false false false false false
false false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 falsefalse false false false | 3 false false false 0 0 false false false false false | 4 true false false 290000000 290 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 falsefalse false false false | 7 true false false 6000000 6 false false false false false | 8 false false false 0 0 falsefalse false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 falsefalse false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities No authoritative reference available. false false Closure costs
27 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesNetOfTax ip false debit duration Restructuring Charges Related To Restructured Closed F
acilities Net Of Tax false false false false false false false false false false verboselabel 1 false false false 0 0 false false false false fals
e | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 true false false 177000000 177 false false false false false | 5 false false false 0 0 false false false false false
| 6 false false false 0 0 false false false false false | 7 true false false 4000000 4 false false false false false
| 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities Net Of Tax No authoritative reference available. false false Closure costs, net of tax
28 false0 na true na na No definition available. false true false false false false false false false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0
false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | 24 false false USD truefalse {us-gaap_StatementBusinessSegmentsAxis} : Franklin, Virginia, Mill [Member]
4/1/2010 - 6/30/2010
USD ($)
$ Duration_4_1_2010_To_6_30_20102222 http://www.sec.gov/CIK 0000051434 duration 2010-04-01T00:00:00 2010-06-30T00:00:00 false false Franklin, Virginia, Mill [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_FranklinVirginiaMillMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4
217 USD iso4217 0 USD USD $ 25 false false USD true false {us-gaap_StatementBusinessSegmentsAxis} : Franklin, Virginia, Mill [Member]
1/1/2010 - 3/31/2010
USD ($)
$ Duration_1_1_2010_To_3_31_201022 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-03-31T00:00:00 false false Franklin, Virginia, Mill [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_FranklinVirginiaMillMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso421
7 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Franklin, Virginia, Mill [Member]
29 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilities ip false debit durationRestructuring Charges Related To Restructured Closed Facilities false false false false false false false false false false verboselabel 1 false false false 0 0 false false falsefalse false | 2 true false false 111000000 111 false false false false false | 3 true false false 204000000 204 false false
false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false falsefalse false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false falsefalse false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false falsefalse false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities No authoritative reference available. false false Clos
ure costs
30 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesNetOfTax ip false debit duration Restructuring Charges Related To Restructured Closed Facilities Net Of Tax false false false false false false false false false false verboselabel 1 false false false0 0 false false false false false | 2 true false false 68000000 68 false false false false false | 3 true false false124000000 124 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:mone
taryItemType monetary Restructuring Charges Related To Restructured Closed Facilities Net Of Tax No authoritative reference available. false false Closure costs, net of tax
31 false 0 ip_RestructuringAndOtherRelatedChargesDepreciationExpense ip false debit duration Restructuring And Other Related Charges, Accelerated Depreciation Expense. false false false false false false falsefalse false false verboselabel 1 false false false 0 0 false false false false false | 2 true false false 46000000 46 false false false false false | 3 true false false 190000000 190 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0
false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring And Other Related Charges, Accelerated Depreciation Expense. No authoritative reference available. false false Accelerated depreciation
32 false 0 ip_RestructuringAndOtherRelatedChargesEnvironmentalClosureCosts ip false debit duration Restructuring A
nd Other Related Charges, Environmental Closure Costs false false false false false false false false false false verboselabel 1 false false false 0 0 false false false fals
e false | 2 true false false 36000000 36 false false false false false | 3 false false false 0 0 false false false fa
lse false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false
hasSegments>false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false falsefalse | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false falsefalse | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring And Other Related Charges, Environmental Closure Costs No authoritative reference available. false false Environmental charges
33 false0 na true na na No definition available. false true false false false false false false false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | 26 false false USD truefalse {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Shorewood Packaging [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_20096 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Shorew
ood Packaging [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_ShorewoodPackagingMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 27 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Shorewood Packaging [Member]
1/1/2009 - 3/31/2009
USD ($)
$ Duration_1_1_2009_To_3_31_200913 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-03-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Shorewo
od Packaging [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_ShorewoodPackagingMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Restructuring - Fiscal 2009 Plan [Member] | Shorewood Packaging [Member]
34 false 0 ip_RestructuringAndOtherRelatedChargesReorganizationCost ip false debit duration Restructuring And Other Related Charges, Reorganization Cost false false false false false false false
false false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 fals
e false false false false | 3 false false false 0 0 false false false false false | 4 true false false 2000000 2 fals
e false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 falsefalse false false false | 7 true false false 2000000 2 false false false false false | 8 false false false 0 0 falsefalse false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 falsefalse false false false | Monetary xbrli:monetaryItemType monetary Restructuring And Other Related Charges, Reorganization Cost No authoritative reference available. false false Reorganization costs
35 false 0 ip_RestructuringAndOtherRelatedChargesReorganizationCostNetOfTax ip false debit duration Restructuring And Other Related Charges, Reorganization Cost Net of Taxfalse false false false false false false false false false verboselabel 1 false false false 0 0 false false false false false | 2false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4
Id>true false false 1000000 1 false false false false false | 5 false false false 0 0 false false false false false | 6
Id>false false false 0 0 false false false false false | 7 true false false 1000000 1 false false false false false | 8
Id>false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 <
IsNumeric>falsefalse false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring And Other Related Charges, Reorganization Cost Net of Tax No authoritative reference available. false false Reorganization costs, net of tax
36 false 0na true na na No definition available. false true false false false false false false false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | 28 false false USD true false{us-gaap_StatementBusinessSegmentsAxis} : Shorewood Packaging [Member]
10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_20102211 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Shorewood Packaging [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_ShorewoodPackagingMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217
MeasureSchema>USD iso4217 0 USD USD $ 29 false false USD true false {us-gaap_StatementBusinessSegmentsAxis} : Shorewood Packaging [Member]
1/1/2010 - 3/31/2010
USD ($)
$ Duration_1_1_2010_To_3_31_201012 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-03-31T00:00:00 false false Shorewood Packaging [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_ShorewoodPackagingMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Shorewood Packaging [Member]
37 false 0 ip_RestructuringAndOtherRelatedChargesReorganizationCost ip false debit durationRestructuring And Other Related Charges, Reorganization Cost false false false false false false false false false false verboselabel 1 true false false 4000000 4 false false falsefalse false | 2 false false false 0 0 false false false false false | 3 true false false 3000000 3 false false falsefalse false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false falsefalse false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false falsefalse false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false falsefalse false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring And Other Related Charges, Reorganization Cost No authoritative reference available. false false Reorganization costs
38 false 0 ip_RestructuringAndOtherRelatedChargesReorganizationCostNetOfTax ip false debit duration Restructuring And Other Related Charges, Reorganization Cost Net of Tax false false false false false false false false false false verboselabel 1 true false false 30000003 false false false false false | 2 false false false 0 0 false false false false false | 3 true false false 20000002 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 00 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 00 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetaryRestructuring And Other Related Charges, Reorganization Cost Net of Tax No authoritative reference available. false false Reorganization costs, net of tax
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PreferredLabelRole>http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails1 false false false 0 0 false false false false false | 2 false false false 0 0 false
false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false falsefalse false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false falsefalse false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false falsefalse false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | 30 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Etienne Mill, France [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_200962 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Etien
ne Mill, France [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_EtienneMillFranceMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 31 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Etienne Mill, France [Member]
7/1/2009 - 9/30/2009
USD ($)
$ Duration_7_1_2009_To_9_30_20092252 http://www.sec.gov/CIK 0000051434 duration 2009-07-01T00:00:00 2009-09-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Etien
ne Mill, France [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_EtienneMillFranceMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 32 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Etienne Mill, France [Member]
4/1/2009 - 6/30/2009
USD ($)
$ Duration_4_1_2009_To_6_30_20092222 http://www.sec.gov/CIK 0000051434 duration 2009-04-01T00:00:00 2009-06-30T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Etien
ne Mill, France [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_EtienneMillFranceMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 33 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Etienne Mill, France [Member]
1/1/2010 - 12/31/2010
USD ($)
$ Duration_1_1_2010_To_12_31_2010244 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Etien
ne Mill, France [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_EtienneMillFranceMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Restructuring - Fiscal 2009 Plan [Member] | Etienne Mill, France [Member]
40 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilities ip false debit duration Restructuring Charges Related To Restructured Closed Facilities false false false false false false falsefalse false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 falsefalse false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 falsefalse false false false | 5 true false false 7000000 7 false false false false false | 6 false false false 0 0 falsefalse false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 fa
lse false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false<
/IsIndependantCurrency>false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities No authoritative reference available. false false Closure costs
41 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesNetOfTax ip false debit duration Restructuring Charges Related To Restructured Closed Facilities Net Of Tax<
/ShortDefinition>false false false false false false false false false false verboselabel 1 false false false 0 0 false false false false false 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 true false false 7000000 7 false false false false false | 6 false false false 0 0 false false false false false 7 false false false 0 0 false false false false false | 8false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10<
/Id>false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities Net Of Tax No authoritative reference available. false false Closure costs, net of tax
42 false 0ip_RestructuringChargesRelatedToSeveranceAndOtherCosts ip false debit duration Restructuring Charges Related To Severance And Other Costs false false false false false false false false false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 true false false 9000000 9 false false false false false | 5 false false false 0 0 false false false false false | 6 true false false 15000000 15 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Severance A
nd Other Costs No authoritative reference available. false false Severance and other costs
43 false 0 ip_RestructuringChargesRelatedToSeveranceAndOtherCostsNetOfTax ip false debit duration Restructuring Charges Related To Severance And Other Costs, Net Of Tax false false false false false false false false false fals
e verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false falsefalse false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false falsefalse false | 5 false false false 0 0 false false false false false | 6 true false false 15000000 15 false false falsefalse false | 7 false false false 0 0 false false false false false | 8 true false false 9000000 9 false false falsefalse false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false falsefalse false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Severance And Other Costs, Net Of Tax No authoritative reference available. false false Severance and other costs, net of tax
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NumericAmount>0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 00 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 00 false false false false false | 34 false false USD true false {us-gaap_StatementBusinessSegmentsAxis} : Etienne Mill, France [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_20092 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Etienne Mill, France [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_EtienneMillFranceMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217USD iso4217 0 USD USD $ 35 false false USD true false {us-gaap_StatementBusinessSegmentsAxis} : Etienne Mill, France [Member]
4/1/2009 - 6/30/2009
USD ($)
$ Duration_4_1_2009_To_6_30_20092 http://www.sec.gov/CIK 0000051434 duration 2009-04-01T00:00:00 2009-06-30T00:00:00 false false Etienne Mill, France [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_EtienneMillFranceMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Etienne Mill, France [Member]
45 false 0 us-gaap_AssetImpairmentCharges us-gaap true debit duration No definition available.false false false false false false false false false false 1 false false false 0 0 false false false false false |
2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 true false false 8000000 8 false false false false false | 5 false false false 0 0 false false false false false | 6 true false false 48000000 48 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false 9 false false false 0 0 false false false false false | 10false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 45, 46, 47
false false Pre-tax charge to write down the assets to estimated fair value
46 false 0 ip_AssetImpairmentChargesNetOfTax ip false debit duration Asset Impairment Charges, Net Of Tax false false false false false false false false false false terselabel 1 falsefalse false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 true false false 8000000 8 false false false false false | 5 false false false 0 0 false false false false false | 6 true false false 48000000 48 false false false false false | 7 falsefalse false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 fa
lse false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Asset Impairment Charges, Net Of Tax No authoritative reference available. false false After taxes charges to write down the assets to estimated fair value
47 false 0 na true na na No definition available. false true false false false false false false
false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | 36 false false USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Albany, OR [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_20098 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Albany
, OR [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_AlbanyORMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Restructuring - Fiscal 2009 Plan [Member] | Albany, OR [Member]
48 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilities ip false debit duration Restructuring Charges Related To Restructured Closed Facilities false false false false false false false false
IsBeginningBalance>false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false falsefalse false false | 3 false false false 0 0 false false false false false | 4 true false false 469000000 469 falsefalse false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false falsefalse false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false falsefalse false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false falsefalse false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities No authoritative reference available. false false Closure costs
49 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesNetOfTax ip false debit duration Restructuring Charges Related To Restructured Closed Facilities Net Of Tax fal
se false false false false false false false false false verboselabel 1 false false false 0 0 false false false false false | 2 false<
/IsNumeric>false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 truefalse false 286000000 286 false false false false false | 5 false false false 0 0 false false false false false | 6 false
IsNumeric>false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 falsefalse false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities Net Of Tax No authoritative reference available. false false Closure costs, net of tax
50 false 0 natrue na na No definition available. false true false false false false false false false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | 37 false false USD true false {ip_Rest
ructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Pineville, Louisiana, Containerboard Mill [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_200910 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Pinev
ille, Louisiana, Containerboard Mill [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_PinevilleLouisianaContainerboardMillMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Restructuring - Fiscal 2009 Plan [Member] | Pineville, Louisiana, Containerboard Mill [Member]
51 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilities ip false debit duration Restructuring Charges Related To Restructured Closed Facilities false false false false false falsefalse false false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 true false false 102000000 102 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities No authoritative reference available. false false Closure costs
52 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesNetOfTax ip false debit duration Restructuring Charges Related To Restructured Closed Facilities Net Of Taxfalse false false false false false false false false false verboselabel 1 false false false 0 0 false false falsefalse false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false falsefalse false | 4 true false false 62000000 62 false false false false false | 5 false false false 0 0 false false falsefalse false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false falsefalse false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false falsefalse false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities Net Of Tax No authoritative reference available. false false Closure costs, net of tax
Label>
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RoundedNumericAmount>0false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0false false false false false | 10 false false false 0 0 false false false false false | 38 false false USD<
/CurrencyCode>true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Valliant, Oklahoma, Containerboard Mill - Paper Machine Shutdown Costs [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_200911 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Valli
ant, Oklahoma, Containerboard Mill - Paper Machine Shutdown Costs [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_ValliantOklahomaContainerboardMillMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Restructuring - Fiscal 2009 Plan [Member] | Valliant, Oklahoma, Containerboard Mill - Paper Machine Shutdown Costs [Member]
54 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilities ip false debit duration Restructuring Charges Related To Restructured Closed Facilities false false false falsefalse false false false false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 00 false false false false false | 3 false false false 0 0 false false false false false | 4 true false false 8200000082 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 00 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 00 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 <
RoundedNumericAmount>0false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities No authoritative reference available. false false Closure costs
55 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesNetOfTax ip falsedebit duration Restructuring Charges Related To Restructured Closed Facilities Net Of Tax false false false false false false false false false false verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false falsefalse false false | 4 true false false 50000000 50 false false false false false | 5 false false false 0 0 false falsefalse false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false falsefalse false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false falsefalse false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities Net Of Tax No authoritative reference available. falsefalse Closure costs, net of tax
56 false 0 na true na na No definition available. false true false false false false false false false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false fals
e false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false falsefalse 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false0 0 false false false false false | 10 false false false 0 0 false false false false false | 39 falsefalse USD true false {ip_RestructuringReserveExpectedPaymentsAxis} : Restructuring - Fiscal 2009 Plan [Member]
{us-gaap_StatementBusinessSegmentsAxis} : Xpedx [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_20097 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Restructuring - Fiscal 2009 Plan [Member] ip_RestructuringReserveExpectedPaymentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_RestructuringFiscal2009PlanMember ip_RestructuringReserveExpectedPaymentsAxis explicitMember false false Xpedx
[Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_XpedxMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other naNo definition available. No authoritative reference available. false false Restructuring - Fiscal 2009 Plan [Member] | Xpedx [Member]
57 false 0 ip_RestructuringAndOtherRelatedChargesReorganizationCost ip false debit duration Restructuring And Other Related Charges, Reorganization Cost false false false false false false false false falsefalse verboselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false
ShowCurrencySymbol>false false false | 3 false false false 0 0 false false false false false | 4 true false false 5000000 5 false false
ShowCurrencySymbol>false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false falsefalse false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false falsefalse false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false falsefalse false false | Monetary xbrli:monetaryItemType monetary Restructuring And Other Related Charges, Reorganization Cost No authoritative reference available. false false Reorganization costs
58 false 0 ip_RestructuringAndOtherRelatedChargesReorganizationCostNetOfTax ip false debit duration Restructuring And Other Related Charges, Reorganization Cost Net of Tax false falsefalse false false false false false false false verboselabel 1 false false false 0 0 false false false false false | 2 false falsefalse 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 true false false3000000 3 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring And Other Related Charges, Reorganization Cost Net of Tax No authoritative reference available. false false Reorganization costs, net of tax
59 false 0 na truena na No definition available. false true false false false false false false false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 <
IsIndependantCurrency>falsefalse false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 falsefalse false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 falsefalse false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 falsefalse false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 falsefalse false false false | 10 false false false 0 0 false false false false false | 40 false false USD true false {us-gaap_StatementBusinessSegmentsAxis}
: Cass Lake, Minnesota [Member]
10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_20102210 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Cass Lake, Minnesota [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_CassLakeMinnesotaMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217
MeasureSchema>USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Cass Lake, Minnesota [Member]
60 false 0 ip_RestructuringAndOtherRelatedChargesEnvironmentalClosureCosts ip false debit durationRestructuring And Other Related Charges, Environmental Closure Costs false false false false false false false false false false verboselabel 1 true false false 18000000 18 false false falsefalse false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false falsefalse false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false falsefalse false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false fals
e false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring And Other Related Charges, Environmental Closure Costs No authoritative reference available. false false Environment
al charges
61 false 0 ip_RestructuringAndOtherRelatedChargesEnvironmentalClosureCostsNetOfTax ip false debit duration Restructuring and other related charges environmental closure costs, net of tax false false false false false false false false false false terselabel 1 true false false11000000 11 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false
false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:moneta
ryItemType monetary Restructuring and other related charges environmental closure costs, net of tax No authoritative reference available. false false Environmental charges, net of tax
62 false 0 na true na na No definition available. false true false false false false false false falsefalse http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 false false false false false | 2 false false false 0 0 falsefalse false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 falsefalse false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 falsefalse false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 falsefalse false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0
false false false false false | 41 false false USD true false {us-gaap_StatementBusinessSegmentsAxis} : Bellevue, Washington and Spartanburg, South Carolina [Member]
10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_20102213 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Bellevue, Washington and Spartanburg, South Carolina [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_BellevueWashingtonAndSpartanburgSouthCarolinaMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Bellevue, Washington and Spartanburg, South Carolina [Member]
63 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesip false debit duration Restructuring Charges Related To Restructured Closed Facilities false false false false false false false false false false verboselabel 1 true false false 12000000 12 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 falsefalse false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 falsefalse false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities No authoritative r
eference available. false false Closure costs
64 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesNetOfTax ip false debit duration Restructuring Charges Related To Restructured Closed Facilities Net Of Tax false false false false false false false false false false verboselabel 1 true false false 7000000 7 false false false false false | 2 false false false 0 0 false false false false fals
e | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities Net Of Tax No authoritative reference available. false false Closure costs, net of tax
65 false 0 na true na na No definition available. false true false false false false falsefalse false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false false false false false | 42 false false USD true false {us-gaap_StatementBusinessSegmentsAxis} : Asian Box Plants [Member]
10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_20102212 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Asian Box Plants [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_AsianBoxPlantsMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Asian Box Plants [Member]
66 false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilities ip false debit durationRestructuring Charges Related To Restructured Closed Facilities false false false false false false false false false false verboselabel 1 true false false 3000000 3 false false falsefalse false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false falsefalse false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false falsefalse false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false falsefalse false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false
false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType monetary Restructuring Charges Related To Restructured Closed Facilities No authoritative reference available. false false Closure costs
67false 0 ip_RestructuringChargesRelatedToRestructuredClosedFacilitiesNetOfTax ip false debit duration Restructuring Charges Related To Restructured Closed Facilities Net Of Tax false false false false false false false false false false verboselabel 1 true false false 20000002 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 00 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 00 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0
0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 00 false false false false false | 10 false false false 0 0 false false false false false | Monetary xbrli:monetaryItemType mo
netary Restructuring Charges Related To Restructured Closed Facilities Net Of Tax No authoritative reference available. false false Closure costs, net of tax
68 false 0 na true na na No definition available. false true false false false false false false false false http://www.internationalpaper.com/taxonomy/role/disclosureinterimfinancialresultsunauditedparentheticaldetails1 false false false 0 0 false false false false false | 2 false false false 0 0 false falsefalse false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false falsefalse false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false f
alse false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false<
/ShowCurrencySymbol>false false false | 9 false false false 0 0 false false false false false | 10 false false false 0 0 false falsefalse false false | 43 false false USD true false {us-gaap_StatementBusinessSegmentsAxis} : Arizona Chemical [Member]
10/1/2010 - 12/31/2010
USD ($)
$ Duration_10_1_2010_To_12_31_201022 http://www.sec.gov/CIK 0000051434 duration 2010-10-01T00:00:00 2010-12-31T00:00:00 false false Arizona Chemical [Member] us-gaap_StatementBusinessSegmentsAxis xbrldi http://xbrl.org/2006/xbrldi ip_ArizonaChemicalMember us-gaap_StatementBusinessSegmentsAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217USD iso4217 0 USD USD $ Other na No definition available. No authoritative reference available. false false Arizona Chemical [Member]
69 false 0 ip_GainLossOnSaleOfBusinessBeforeTax ip false credit duration Ga
in Loss On Sale Of Business Before Tax false false false false false false false false false false terselabel 1 true false false 25000000 25 false false false falsefalse | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false
false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false false false | 9 false false false 0 0 false false false false f
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<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>INFORMATION BY INDUSTRY SEGMENT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Net Sales </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="66%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,840</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,890</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,690</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,940</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,680</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,810</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,060</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,195</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,735</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,525</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,970</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>220</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">200</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and Intersegment Sales</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(956</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(834</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,036</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net sales</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Operating Profit </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>826</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">761</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">390</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>481</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,091</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">474</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>207</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">433</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>78</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">103</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>94</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">409</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Operating Profit</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,686</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,360</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,393</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(608</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(669</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(492</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Noncontrolling interests / equity earnings adjustment (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate items, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(226</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(103</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and other charges</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(70</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(333</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(179</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gain on sale of forestlands</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Impairments of goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,777</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net gains (losses) on sales and impairments of businesses</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>822</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,199</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,153</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Restructuring and Other Charges </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">684</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>315</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>52</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">333</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">179</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Restructuring and Other Charges</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>394</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,353</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">370</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Assets </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,353</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,120</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">10,212</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>7,449</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,791</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,396</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,025</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,333</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,761</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,692</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,881</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>627</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">758</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">903</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Specialty Businesses and Other (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and other (c)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,167</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,187</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,180</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,382</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25,548</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">26,913</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font> </p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Capital Spending </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="74%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>301</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">183</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">282</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>283</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">383</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>159</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">126</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">287</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Subtotal</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>751</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">963</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate and other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>24</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total from Continuing Operations</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>775</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">534</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,002</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Depreciation and Amortization (d) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>597</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">678</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">452</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>479</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">447</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">517</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>228</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">210</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">218</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>134</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">117</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">136</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Depreciation and Amortization</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,456</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,472</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,347</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>External Sales By Major Product </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9,812</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8,813</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,465</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Printing Papers</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,220</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,114</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,407</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer Packaging</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,241</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,911</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,982</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Distribution</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,683</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,486</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">7,928</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forest Products</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>223</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">47</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net Sales</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>INFORMATION BY GEOGRAPHIC AREA </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Net Sales (e) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">United States (f)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19,501</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18,355</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19,501</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Europe</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,839</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,716</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pacific Rim</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,377</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,002</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">827</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Americas, other than U.S.</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,462</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,293</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,324</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net Sales</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25,179</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23,366</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24,829</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Long-Lived Assets (g) </i></b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">United States</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,866</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9,626</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11,336</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Europe</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,047</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,215</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pacific Rim</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>468</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">369</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">386</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Americas, other than U.S.</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,162</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,117</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,599</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Corporate</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>206</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">210</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">260</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Long-Lived Assets</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12,749</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">13,445</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">14,796</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes Arizona Chemical and certain other smaller businesses identified in the Company's divestiture program. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>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 noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes corporate assets and assets of businesses held for sale. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes cost of timber harvested; excludes accelerated depreciation related to closure of mills. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Net sales are attributed to countries based on the location of the seller. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Export sales to unaffiliated customers were $1.8 billion in 2010, $1.4 billion in 2009 and $1.6 billion in 2008. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="19" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net.</i></font></p></td></tr></table></div></div> </div> INFORMATION BY INDUSTRY SEGMENT
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XML
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IDEA: Restructuring Charges and Other Items (Narrative) (Details)
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USD ($)
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USD ($)
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USD ($)
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 11 VARIABLE INTEREST ENTITIES AND PREFERRED SECURITIES OF SUBSIDIARIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>VARIABLE INTEREST ENTITIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with the 2006 sale of approximately <font class="_mt">5.6</font> million acres of forestlands, International Paper received installment notes (the Timber Notes) totaling approximately $<font class="_mt">4.8</font> billion. The Timber Notes, which do not require principal payments prior to their August 2016 maturity, are supported by irrevocable letters of credit obtained by the buyers of the forestlands. During the three months ended December 31, 2006, International Paper contributed the Timber Notes to newly formed entities (the Borrower Entities) in exchange for Class A and Class B interests in these entities. Subsequently, International Paper contributed its $<font class="_mt">200</font> million Class A interests in the Borrower Entities, along with approximately $<font class="_m
t">400</font> million of International Paper promissory notes, to other newly formed entities (the Investor Entities, and together with the Borrower Entities, the Entities) in exchange for Class A and Class B interests in these entities, and simultaneously sold its Class A interest in the Investor Entities to a third party investor. As a result, at December 31, 2006, International Paper held Class B interests in the Borrower Entities and Class B interests in the Investor entities valued at approximately $<font class="_mt">5.0</font> billion. International Paper has no obligation to make any further capital contributions to these Entities and did not provide any financial support that was not previously contractually required for the years ended December 31, 2010, 2009 or 2008. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Also during 2006, the Entities acquired approximately $<font class="_mt">4.8</font> billion of International Paper debt obligations for cash, resulting in a total of approximately $<font class="_mt">5.2</font> billion of International Paper debt obligations held by the Entities at December 31, 2006. The various agreements entered into in connection with these transactions provide that International Paper has, and intends to affect, a legal right to offset its obligation under these debt instruments with its investments in the Entities. Accordingly, for financial reporting purposes, International Paper has offset approximately $<font class="_mt">5.1</font> billion of Class B interests in the entities against $<font class="_mt">5.1</font> billion of International Paper debt obligations held by these Entities at December&n
bsp;31, 2010 and 2009. Remaining borrowings of $<font class="_mt">129</font> million and $<font class="_mt">144</font> million for 2010 and 2009, respectively, are included in floating rate notes due 2011 – 2016 in the summary of long-term debt in Note 12. Additional debt related to the above transaction of $<font class="_mt">38</font> million and $<font class="_mt">46</font> million is included in short-term notes in the summary of long-term debt in Note 12 for 2010 and 2009, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper also holds variable interests in two financing entities that were used to monetize long-term notes received from the sale of forestlands in 2001 and 2002. International Paper transferred notes (the Monetized Notes, with an original maturity of 10 years from inception) and cash having a value of approximately $<font class="_mt">1.0</font> billion to these entities in exchange for preferred interests, and accounted for the transfers as a sale of the notes with no associated gain or loss. In the same period, the entities acquired approximately $<font class="_mt">1.0</font> billion of International Paper debt obligations for cash. International Paper has no obligation to make any further capital contributions to these entities and did not provide any financial support that was not previously contractually required during the years ended De
cember 31, 2010, 2009 or 2008. At December 31, 2010, International Paper's $<font class="_mt">542</font> million preferred interest in one of the entities has been offset against related debt obligations since International Paper has, and intends to affect, a legal right of offset to net-settle these two amounts. Other outstanding debt related to the above transactions of $<font class="_mt">464</font> million and $<font class="_mt">465</font> million is included in floating rate notes due 2011 – 2016, and $<font class="_mt">4</font> million and $<font class="_mt">7</font> million is included in short-term notes in the summary of long-term debt in Note 12 for 2010 and 2009, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Based on an analysis of these entities under guidance that considers the potential magnitude of the variability in the structures and which party has a controlling financial interest, International Paper determined that it is not the primary beneficiary of the above entities, and therefore, should not consolidate its investments in these entities. It was also determined that the source of variability in the structure is the value of the Timber Notes and Monetized Notes, the assets most significantly impacting each structure's economic performance. The credit quality of the Timber Notes and Monetized Notes are supported by irrevocable letters of credit obtained by third party buyers which are <font class="_mt">100</font>% cash collateralized. International Paper analyzed which party has control over the economic performance of each entity, and concluded International P
aper does not have control over significant decisions surrounding the Timber Notes, Monetized Notes and letters of credit and therefore is not the primary beneficiary. The Company's maximum exposure to loss equals the value of the Timber Notes and Monetized Notes; however, an analysis performed by the Company concluded the likelihood of this exposure is remote. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PREFERRED SECURITIES OF SUBSIDIARIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In March 2003, Southeast Timber, Inc. (Southeast Timber), a consolidated subsidiary of International Paper, issued $<font class="_mt">150</font> million of preferred securities to a private investor with future dividend payments based on LIBOR. Southeast Timber, which through a subsidiary initially held approximately <font class="_mt">1.5</font> million acres of forestlands in the southern United States, was International Paper's primary vehicle for sales of southern forestlands. As of December 31, 2010, substantially all of these forestlands have been sold. These preferred securities may be put back to International Paper by the private investor upon the occurrence of certain events, and have a liquidation preference that approximates their face amount. The $<font class="_mt">150</font> million preferred third-party
interest is included in Noncontrolling interests in the accompanying consolidated balance sheet. Distributions paid to the third-party investor were $<font class="_mt">5</font> million, $<font class="_mt">6</font> million and $<font class="_mt">10</font> million in 2010, 2009 and 2008, respectively. The expense related to these preferred securities is shown in Net earnings (loss) attributable to noncontrolling interests in the accompanying consolidated statement of operations. </font></p> </div> NOTE 11 VARIABLE INTEREST ENTITIES AND PREFERRED SECURITIES OF SUBSIDIARIES
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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USD ($)
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USD ($)
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USD ($)
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1
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 noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings. 2
Includes a pre-tax charge of $18 million ($11 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $12 million ($7 million after taxes) for closure costs related to the Bellevue, Washington and Spartanburg, South Carolina container plants, a pre-tax charge of $13 million ($8 million after taxes) for early debt extinguishment costs, a pre-tax charge of $5 million ($3 million after taxes) for severance and benefit costs associated with the Company's S&A reduction initiative, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the shutdown of three box plants in Asia, a pre-tax gain of $25 million ($15 million after taxes) related to the partial redemption of the Company's interest in Arizona Chemical, a charge of $2 million, before and after taxes, for asset im
pairment costs associated with the Inverurie, Scotland mill which was closed in 2009 and a net pre-tax gain of $2 million ($1 million after taxes) for other items. 3
Includes a pre-tax charge of $111 million ($68 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $46 million of accelerated depreciation and $36 million of environmental closure costs), a pre-tax charge of $18 million ($11 million after taxes) for early debt extinguishment costs, a pre-tax charge of $11 million ($7 million after taxes) for an Ohio Commercial Activity tax adjustment and charges of $4 million ($2 million after taxes) for other items. 4
Includes a pre-tax charge of $204 million ($124 million after taxes) for shutdown costs related to the Franklin, Virginia mill (including $190 million of accelerated depreciation), a pre-tax charge of $4 million ($2 million after taxes) for early debt extinguishment costs, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the reorganization of the Company's Shorewood operations and charges of $4 million, before and after taxes, for other items. 5
Includes a pre-tax gain of $516 million ($469 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $15 million ($10 million after taxes) for integration costs associated with the CBPR acquisition, pre-tax charges of $469 million ($286 million after taxes), $290 million ($177 million after taxes) and $102 million ($62 million after taxes) for shutdown costs for the Albany, Oregon, Franklin, Virginia, and Pineville, Louisiana mills, respectively, a pre-tax charge of $82 million ($50 million after taxes) for costs related to the shutdown of a paper machine at the Valliant, Oklahoma mill, a pre-tax charge of $23 million ($15 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $58 million ($35 million after taxes) for early debt extinguishment costs, a charge of $9 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in Franc
e, a pre-tax charge of $8 million to write down the assets at the Etienne mill to estimated fair value, pre-tax charges of $5 million ($3 million after taxes) and $2 million ($1 million after taxes) for costs associated with the reorganization of the Company's xpedx and Shorewood operations, respectively, and a pre-tax charge of $3 million ($0 million after taxes) for other items. 6
Includes a pre-tax gain of $525 million ($320 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $39 million ($24 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $102 million ($62 million after taxes) for early debt extinguishment costs, a charge of $7 million, before and after taxes, for costs associated with the planned closure of the Etienne mill in France, and a pre-tax charge of $3 million ($2 million after taxes) for other items. 7
Includes a pre-tax gain of $482 million ($294 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $18 million ($11 million after taxes) for integration costs associated with the CBPR acquisition, a pre-tax charge of $34 million ($21 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $25 million ($16 million after taxes) for early debt extinguishment costs, a charge of $15 million, before and after taxes, for severance and other costs associated with the planned closure of the Etienne mill in France, a pre-tax charge of $48 million, before and after taxes, to write down the assets of the Etienne mill to estimated fair value and a pre-tax charge of $5 million ($3 million after taxes) for other items. 8
Includes a pre-tax gain of $540 million ($330 million after taxes) related to alternative fuel mixture credits, a pre-tax charge of $36 million ($22 million after taxes) for integration costs associated with the Containerboard, Packaging and Recycling business (CBPR) acquired in August 2008, a pre-tax charge of $52 million ($32 million after taxes) for severance and benefit costs associated with the Company's 2008 overhead cost reduction initiative, a pre-tax charge of $23 million ($28 million after taxes) for closure costs associated with the Inverurie, Scotland mill, a pre-tax charge of $6 million ($4 million after taxes) for shutdown costs associated with the Franklin, Virginia lumber mill, sheet converting plant and converting innovations center, and a pre-tax charge of $2 million ($1 million after taxes) for shutdown costs associated with the reorganization of the Company's Shorewood operations. 11 19 Finan
cial Information by Industry Segment and Geographic Area (Information by Industry Segment) (Operating Profit) (Details) (USD $) Millions UnKnown UnKnown UnKnown false true
XML
69
R94.xml
IDEA: Retirement Plans (Net Periodic Benefit Expense Qualified and Nonqualified U.S. Defined Benefit Plans) (Details)
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USD ($)
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1
Excludes $1.1 million in 2008 in curtailment losses, and $83.2 million and $13.9 million in 2009 and 2008, respectively, of termination benefits, in connection with cost reduction programs and facility rationalizations that were recorded in Restructuring and other charges in the consolidated statement of operations. 3 6 Retirement Plans (Net Periodic Benefit Expense Qualified and Nonqualified U.S. Defined Benefit Plans) (Details) (United States Pension Plans of US Entity, Defined Benefit [Member], USD $) Millions UnKnown UnKnown UnKnown false true
XML
70
R32.xml
IDEA: Acquisitions (Tables)
2.2.0.25 true false 30503 - Disclosure - Acquisitions (Tables) true false false 1 false false true false {dei_LegalEntityAxis} : SCA Packaging Asia [Member]
1/1/2010 - 12/31/2010
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1/1/2008 - 12/31/2008
Duration_1_1_2008_To_12_31_20082 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 false false Containerboard Packaging Recycling (CBPR) Business Acquisition [Member] dei_LegalEntityAxis xbrldi http://xbrl.org/2006/xbrldi ip_ContainerboardPackagingRecyclingCBPRBusinessAcquisitionMember dei_LegalEntityAxis explicitMember 2 false 0 ip_BusinessCombinationCondensedStatementOfAssetsAcquiredAndLiabilitiesAssumedDisclosureTextBlock ip false na duration Business Combination, Condensed Statement of Assets Acquired and Liabilities Assumed Disclosure [Text Block] false false false false false false false false falsefalse verboselabel 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and temporary investments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>71</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inventory</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>24</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other current assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>102</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax asset</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other intangible assets</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total assets acquired</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>283</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts payable and accrued liabilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>65</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-controlling interest</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total liabilities assumed</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>78</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net assets acquired</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>205</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table> </div> In millions
Cash and temporary investments
$
19
Accounts and notes receivable, false false false true false | 2 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="87%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and temporary investments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">655</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inventory</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">568</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other current assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4,816</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">445</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred charges and other assets</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">63</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total assets acquired</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,625</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts payable and accrued liabilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">463</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other liabilities</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">85</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total liabilities assumed</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">548</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net assets acquired</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,077</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table> </div> In millions
Cash and temporary investments
$
2
Accounts and notes receivable, false false false true false | Other us-types:textBlockItemType string Business Combination, Condensed Statement of Assets Acquired and Liabilities Assumed Disclosure [Text Block] No authoritative reference available. false false Fair Value of Assets and Liabilities Acquired
3 false 0 us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlockus-gaap true na duration No definition available. false false false false false false false false false false verboselabel 1 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="59%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Estimated</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair Value</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Average</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Remaining</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Useful Life</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Asset Class:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(at acquisition<br />date)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Land-use rights</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Customer relationships</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16 years</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table> </div> In millions
Estimated
Fair Value
Average
Remaining
Useful Life
Asset Class:
false false false true false | 2 false false false 0 0 false false false true false | Other us-types:textBlockItemType string The characteristics of finite-lived int
angible assets acquired during a business combination. Finite-lived intangible assets are assets that have no physical form, but have expected future economic benefit, and are expected to be used over a defined period of time. Acquired finite-lived intangible assets are disclosed by major class (assets that can be grouped together because they are similar, either by their nature or by their use in operations of the Entity) and in total. Additionally, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period must also be disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 44
false false Identifiable Intangible Assets Acquired in Connection with SCA Acquisition
4 false 0 ip_ScheduleOfFiniteLivedIntangibleAssetsAndInfiniteLivedIntangibleAssetsAsPartOfBusinessCombinationTableTextBlock ip false na duration Schedule of Finite Lived Intangible Assets and Infinite Lived Intangible Assets as Part of Business Combination [Table Text... false false false false false false false falsefalse false verboselabel 1 false false false 0 0 false false false true false | 2 false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="59%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Estimated</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Remaining</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Useful Life</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Asset Class:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(at acquisition<br />date</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> <br />) </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tradenames</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 12 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Patented technology</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 12 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Proprietary software</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 5 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Power agreements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1 - 7 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Water rights</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Indefinite</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">65</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table> </div> In millions
Estimated
Fair Value
Average
Remaining
Useful Life
Asset Class:
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<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="86%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net sales</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27,920</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,348</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net earnings (loss) (1)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,361</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations per common share</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net earnings (loss) per common share (1)</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.23</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
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<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(1)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Attributable to International Paper Company common shareholders.</i></font></p></td></tr></table></div> </div> In millions, except per share amounts
2008
Net sales
$
27,920
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12/31/2009
USD ($)
$ As_Of_12_31_2009225 http://www.sec.gov/CIK 0000051434 instant 2009-12-31T00:00:00 0001-01-01T00:00:00 false false Senior Unsecured Notes 7 Point 3 Percent Due November 2039 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_SeniorUnsecuredNotes7Point3PercentDueNovember2039Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http
://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 18 false false USD true false {us-gaap_DebtInstrumentAxis} : Containerboard Packaging Recycling (CBPR) Business Acquisition [Member]
12/29/2009 - 12/31/2009
USD ($)
$ Duration_12_29_2009_To_12_31_2009 http://www.sec.gov/CIK 0000051434 duration 2009-12-29T00:00:00 2009-12-31T00:00:00 false false Containerboard Packaging Recycling (CBPR) Business Acquisition [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ContainerboardPackagingRecyclingCBPRBusinessAcquisitionMember us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 19 false false USD true false {us-gaap_DebtInstrumentAxis} : Notes Interest Rate LIBOR Plus A Margin Of 40 Point Basis Points Due In 2010 [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_200912 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Notes Interest Rate LIBOR Plus A Margin Of 40 Point Basis Points Due In 2010 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_NotesInterestRateLIBORPlusAMarginOf40PointBasisPointsDueIn2010Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard
http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 20 false false USD true false {us-gaap_DebtInstrumentAxis} : Notes Interest Rates Ranging From 4 Percent To 9 Point 375 Percent Due From 2009 To 2038 [Member]
10/1/2009 - 12/31/2009
USD ($)
$ Duration_10_1_2009_To_12_31_200913 http://www.sec.gov/CIK 0000051434 duration 2009-10-01T00:00:00 2009-12-31T00:00:00 false false Notes Interest Rates Ranging From 4 Percent To 9 Point 375 Percent Due From 2009 To 2038 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_NotesInterestRatesRangingFrom4PercentTo9Point375PercentDueFrom2009To2038Member us-gaap_DebtInstrumentAxis explicitMember Unit12Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 21 false false USD true false {us-gaap_DebtInstrumentAxis} : Senior Unsecured Notes 7 Point 5 Percent Due August 2021 [Member]
8/31/2009
USD ($)
$ As_Of_8_31_2009 http://www.sec.gov/CIK 0000051434 instant 2009-08-31T00:00:00 0001-01-01T00:00:00 false false Senior Unsecured Notes 7 Point 5 Percent Due August 2021 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_SeniorUnsecuredNotes7point5PercentDueAugust2021Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.x
brl.org/2003/iso4217 USD iso4217 0 USD USD $ 22 false false USD true false {us-gaap_DebtInstrumentAxis} : Issued in Connection with the Ilim Holdings S.A. Joint Venture Maturing June 2009 [Member]
4/1/2009 - 6/30/2009
USD ($)
$ Duration_4_1_2009_To_6_30_200932 http://www.sec.gov/CIK 0000051434 duration 2009-04-01T00:00:00 2009-06-30T00:00:00 false false Issued in Connection with the Ilim Holdings S.A. Joint Venture Maturing June 2009 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_IssuedInConnectionWithIlimHoldingsSaJointVentureMaturingInJune2009Member us-gaap_DebtInstrumentAxis explicitMember Unit12 S
tandard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 23 false false USD true false {us-gaap_DebtInstrumentAxis} : Notes Interest Rates Ranging From 5 Point 125 Percent To 7 Point 4 Percent Due From 2012 To 2026 [Member]
8/1/2009 - 8/31/2009
USD ($)
$ Duration_8_1_2009_To_8_31_2009 http://www.sec.gov/CIK 0000051434 duration 2009-08-01T00:00:00 2009-08-31T00:00:00 false false Notes Interest Rates Ranging From 5 Point 125 Percent To 7 Point 4 Percent Due From 2012 To 2026 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_NotesInterestRatesRangingFrom5Point125PercentTo7Point4PercentDueFrom2012To2026Member us-gaap_DebtInstrumentAxis explicitMember U
nit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 24 false false USD true false {us-gaap_DebtInstrumentAxis} : Senior Unsecured Notes 9 Point 375 Percent Due May 2019 [Member]
5/31/2009
USD ($)
$ As_Of_5_31_2009 http://www.sec.gov/CIK 0000051434 instant 2009-05-31T00:00:00 0001-01-01T00:00:00 false false Senior Unsecured Notes 9 Point 375 Percent Due May 2019 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_SeniorUnsecuredNotes9Point375PercentDueMay2019Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.xbr
l.org/2003/iso4217 USD iso4217 0 USD USD $ 25 false false USD true false {us-gaap_DebtInstrumentAxis} : Notes Interest Rates Ranging From 4 Percent To 9 Point 25 Percent Due From 2010 To 2012 [Member]
5/1/2009 - 5/31/2009
USD ($)
$ Duration_5_1_2009_To_5_31_2009 http://www.sec.gov/CIK 0000051434 duration 2009-05-01T00:00:00 2009-05-31T00:00:00 false false Notes Interest Rates Ranging From 4 Percent To 9 Point 25 Percent Due From 2010 To 2012 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_NotesInterestRatesRangingFrom4PercentTo9Point25PercentDueFrom2010To2012Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standardhttp://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 26 false false USD true false {us-gaap_DebtInstrumentAxis} : Debt Initial Interest Rate LIBOR Plus A Margin Of 450 Basis Points Due March 2012 [Member]
3/31/2009
USD ($)
$ As_Of_3_31_2009 http://www.sec.gov/CIK 0000051434 instant 2009-03-31T00:00:00 0001-01-01T00:00:00 false false Debt Initial Interest Rate LIBOR Plus A Margin Of 450 Basis Points Due March 2012 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_DebtInitialInterestRateLIBORPlusAMarginOf450BasisPointsDueMarch2012Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 27 false false EUR true false {us-gaap_DebtInstrumentAxis} : Currency, Euro [Member]
3/1/2009 - 3/31/2009
EUR (€)
€ Duration_3_1_2009_To_3_31_2009 http://www.sec.gov/CIK 0000051434 duration 2009-03-01T00:00:00 2009-03-31T00:00:00 false false Currency, Euro [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_CurrencyEuroMember us-gaap_DebtInstrumentAxis explicitMember Unit18 Standard http://www.xbrl.org/2003/iso4217 EUR<
/MeasureValue>iso4217 0 EUR EUR € 28 false false USD true false {us-gaap_DebtInstrumentAxis} : Euro Denominated Debt Due August 2009 [Member]
3/1/2009 - 3/31/2009
USD ($)
$ Duration_3_1_2009_To_3_31_20092 http://www.sec.gov/CIK 0000051434 duration 2009-03-01T00:00:00 2009-03-31T00:00:00 false false Euro Denominated Debt Due August 2009 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_EuroDenominatedDebtDueAugust2009Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4
217 USD iso4217 0 USD USD $ 29 false false USD true false {us-gaap_DebtInstrumentAxis} : Loans [Member]
9/1/2009 - 9/30/2009
USD ($)
$ Duration_9_1_2009_To_9_30_20092 http://www.sec.gov/CIK 0000051434 duration 2009-09-01T00:00:00 2009-09-30T00:00:00 false false Loans [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi us-gaap_LoansMember us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 30 false false USD true false {us-gaap_DebtInstrumentAxis} : Notes Interest Rates Ranging From 4 Point 25 Percent To 5 Percent Matured [Member]
1/1/2009 - 3/31/2009
USD ($)
$ Duration_1_1_2009_To_3_31_200917 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-03-31T00:00:00 false false Notes Interest Rates Ranging From 4 Point 25 Percent To 5 Percent Matured [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_NotesInterestRatesRangingFrom4Point25PercentTo5PercentMaturedMember us-gaap_DebtInstrumentAxis explicitMember Unit12 Standardhttp://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 31 false false USD true false {us-gaap_DebtInstrumentAxis} : Line of Credit Expires November 2012 [Member]
11/30/2009
USD ($)
$ As_Of_11_30_2009 http://www.sec.gov/CIK 0000051434 instant 2009-11-30T00:00:00 0001-01-01T00:00:00 false false Line of Credit Expires November 2012 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_LineOfCreditExpiresNovember2012Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USD USD $ 32 false false true false {us-gaap_DebtInstrumentAxis} : Line of Credit Expires 2012 [Member]
11/30/2009
As_Of_11_30_20092 http://www.sec.gov/CIK 0000051434 instant 2009-11-30T00:00:00 0001-01-01T00:00:00 false false Line of Credit Expires 2012 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_LineOfCreditExpires2012Member us-gaap_DebtInstrumentAxis explicitMember Unit13 Standard http://www.xbrl.org/2003/instance purexbrli 0 33 false false USD true false {us-gaap_DebtInstrumentAxis} : Receivables Securitization Program Expires 2011 [Member]
12/31/2010
USD ($)
$ As_Of_12_31_20104 http://www.sec.gov/CIK 0000051434 instant 2010-12-31T00:00:00 0001-01-01T00:00:00 false false Receivables Securitization Program Expires 2011 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ReceivablesSecuritizationProgramExpires2011Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.xbrl.org/200
3/iso4217 USD iso4217 0 USD USD $ 34 false false USD true false {us-gaap_DebtInstrumentAxis} : Receivables Securitization Program Expires 2012 [Member]
11/30/2009
USD ($)
$ As_Of_11_30_20093 http://www.sec.gov/CIK 0000051434 instant 2009-11-30T00:00:00 0001-01-01T00:00:00 false false Receivables Securitization Program Expires 2012 [Member] us-gaap_DebtInstrumentAxis xbrldi http://xbrl.org/2006/xbrldi ip_ReceivablesSecuritizationProgramExpires2012Member us-gaap_DebtInstrumentAxis explicitMember Unit12 Standard http://www.xbrl.org/200
3/iso4217 USD iso4217 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 5 false 0 us-gaap_RepaymentsOfNotesPayable us-gaap true credit duration No definition available.false false false false false false false false false false label 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false false false fals
e | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 true false false 54000000 54000000 false true false true fals
e | 10 false false false 0 0 false false false true false | 11 true false false 108000000 108000000 false true false true false | 12 false false false 0 0 false false false true false | 13 false false false 0 0 false false false true
false | 14 false false false 0 0 false false false true false | 15 false false false 0 0 false false false true false
| 16 false false false 0 0 false false false true false | 17 false false false 0 0 false false false true false | 18 false false false 0 0 false false false true false | 19 true false false 214000000 214000000 false true false true f
alse | 20 true false false 235000000 235000000 false true false true false | 21 false false false 0 0 false false false true false | 22 true false false 75000000 75000000 false true false true false | 23 true false false 942000000 942000000 false true false tru
e false | 24 false false false 0 0 false false false true false | 25 true false false 875000000 875000000 false true false truefalse | 26 false false false 0 0 false false false true false | 27 false false false 0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 true false false 468000000 468000000 false true false truefalse | 30 true false false 366000000 366000000 false true false true false | 31 false false false 0 0 false false falsetrue false | 32 false false false 0 0 false false false true false | 33 false false false 0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 18
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 20
-Subparagraph b
false false Repaid debt
6 false 0 ip_CostsRelatedToEarlyRetirementOfDebt ip false debit duration The charge against earnings during the period associated with the early retirement of existing debt agreements. false false false false false false false false false false terselabel <
Cells>1 false false false 0 0 false false false false false | 2 true false false 13000000 13000000 false false false false false | 3 true false false 18000000 18000000 false false false false false | 4 true false false 4000000 4000000 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false true false
| 9 true false false 13000000 13000000 false false false true false | 10 false false false 0 0 false false false true false | 11 true false false 21000000 21000000 false false false true false | 12 true false false 36000000 36000000 false false false truefalse | 13 true false false 46000000 46000000 false false false true false | 14 false false false 0 0 false false false t
rue false | 15 false false false 0 0 false false false true false | 16 true false false 5000000 5000000 false false false truefalse | 17 false false false 0 0 false false false true false | 18 false false false 0 0 false false false
true false | 19 false false false 0 0 false false false true false | 20 false false false 0 0 false false false true<
/hasSegments>false | 21 false false false 0 0 false false false true false | 22 false false false 0 0 false false false truefalse | 23 true false false 118000000 118000000 false false false true false | 24 false false false 0 0 false false false
true false | 25 false false false 0 0 false false false true false | 26 false false false 0 0 false false false true<
/hasSegments>false | 27 false false false 0 0 false false false true false | 28 false false false 0 0 false false false truefalse | 29 false false false 0 0 false false false true false | 30 false false false 0 0 false false false truefalse | 31 false false false 0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false 0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary The charge against earnings during the period associated with the early retirement of existing debt agreements. No authoritative reference available. false false Pre-tax early debt retirement costs related to debt repayments
7 false 0 us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet us-gaap true credit duration No definition available. false false falsefalse false false false false false false terselabel 1 false false false 0 0 false false false false false | 2 false false false 00 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 00 false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0<
/NumericAmount>0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 00 false false false true false | 9 false false false 0 0 false false false true false | 10 false false false 00 false false false true false | 11 false false false 0 0 false false false true false | 12 false false false 0 <
RoundedNumericAmount>0false false false true false | 13 false false false 0 0 false false false true false | 14 true false false 3000000 <
RoundedNumericAmount>3000000false false false true false | 15 true false false 1000000 1000000 false false false true false | 16 false false false 00 false false false true false | 17 false false false 0 0 false false false true false | 18 false false false 00 false false false true false | 19 false false false 0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 false false false 0 0 false false false true false | 22 false false false 0 0false false false true false | 23 false false false 0 0 false false false true false | 24 false false false 0 0false false false true false | 25 false false false 0 0 false false false true false | 26 false false false 0 0false false false true false | 27 false false false 0 0 false false false true false | 28 false false false 0 0false false false true false | 29 false false false 0 0 false false false true false | 30 false false false 0 0<
/RoundedNumericAmount>false false false true false | 31 false false false 0 0 false false false true false | 32 false false false 0 0false false false true false | 33 false false false 0 0 false false false true false | 34 false false false 0 0false false false true false | Monetary xbrli:monetaryItemType monetary The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44C
-Subparagraph b
false false Gain on associated interest rate swaps
8 false 0 us-gaap_DebtInstrumentFaceAmount us-gaap true credit instant No definition available. false false false false false false false false false false 1 false false false0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false fal
se 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false0 0 false false false false false | 6 true false false 2500000000 2500000000 false false false false false | 7 false false false0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false false fa
lse 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false false false
DisplayZeroAsNone>0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false false false0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false false0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 true false false750000000 750000000 false false false true false | 18 false false false 0 0 false false false true false | 19 false false false0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 true false false1000000000 1000000000 false false false true false | 22 false false false 0 0 false false false true false | 23 false false false
0 0 false false false true false | 24 true false false 1000000000 1000000000 false false false true false | 25 false false false0 0 false false false true false | 26 true false false 468000000 468000000 false false false true false | 27 false false false0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 false false false0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false false0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:moneta
ryItemType monetary The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Principles Board Opinion (APB)
-Number 21
-Paragraph 16, 20
false false Long term debt
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/IsNumeric>false false 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 falsefalse false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false false 0 0 false false false true false | 16 true false false 120000000 120000000 false false false true false | 17 false<
/IsNumeric>false false 0 0 false false false true false | 18 true false false 1000000000 1000000000 false false false true false | 19 falsefalse false 0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 false false false 0 0 false false false true false | 22 false false false 0 0 false false false true false | 23 fals
e false false 0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 falsefalse false 0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 truefalse false 500000000 500000000 false false false true false | 28 true false false 638000000 638000000 false false false true false | 29
false false false 0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 falsefalse false 0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false 0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 18
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 20
-Subparagraph b
false false Repayment of long-term debt
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lse false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false
IsRatio>false 0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false falsefalse 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false false false0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false false false0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false false false0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false false 0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 false false fals
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lse 0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 false false false
DisplayZeroAsNone>0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 false false false0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 false false false0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false false0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false 00 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType <
SimpleDataType>monetaryAdditional Repayment of Long Term Debt. No authoritative reference available. false false Additional repayment of long-term debt
11 false 0 us-gaap_DebtAndCapitalLeaseObligations us-gaap true credit instant No definition available. false false false false false false false false falsefalse 1 false false false 0 0 false false false false false | 2 false false false 0 0 false false falsefalse false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false falsefalse false | 5 false false false 0 0 false false false false false | 6 false false false 0 0 false false falsefalse false | 7 false false false 0 0 false false false false false | 8 true false false 5700000000 5700000000 false false falsetrue false | 9 false false false 0 0 false false false true false | 10 false false false 0 0 false false falsetrue false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 false false falsetrue false | 13 false false false 0 0 false false false true false | 14 false false false 0 0 false false falsetrue false | 15 false false false 0 0 false false false true false | 16 false false false 0 0 false false false <
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false | 29 false false false 0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false false 0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false 0 0 false false false true false | 34 false false false 0 0 false false false true f
alse | Monetary xbrli:monetaryItemType monetary Sum of the carrying values as of the balance sheet date of all debt, including all short-term borrowings, long-term debt, and capital lease obligations. No authoritative reference available. false false Debt
12 false 0 ip_DebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths ip false credit instant Debt, Maturities, Repayments of Principal in Next Twelve Months false false fals
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542000000 542000000 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false0 0 false false false false false | 5 true false false 542000000 542000000 false false false false false | 6 false false fals
e 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false0 0 false false false true false | 9 false false false 0 0 false false false true false | 10 false false false0 0 false false false true false | 11 false false false 0 0 false false false true false | 12 false false false0 0 false false false true false | 13 false false false 0 0 false false false true false | 14 false false false
0 0 false false false true false | 15 false false false 0 0 false false false true false | 16 false false false 00 false false false true false | 17 false false false 0 0 false false false true false | 18 false false false 00 false false false true false | 19 false false false 0 0 false false false true false | 20 false false false
0 0 false false false true false | 21 false false false 0 0 false false false true false | 22 false false false 00 false false false true false | 23 false false false 0 0 false false false true false | 24 false false false 00 false false false true false | 25 false false false 0 0 false false false true false | 26 false false false 00 false false false true false | 27 false false false 0 0 false false false true false | 28 false false false 0 0false false false true false | 29 false false false 0 0 false false false true false | 30 false false false 0 0false false false true false | 31 false false false 0 0 false false false true false | 32 false false false 0 0false false false true false | 33 false false false 0 0 false false false true false | 34 false false false 0 0false false false true false | Monetary xbrli:monetaryItemType monetary Debt, Maturities, Repayments of Principal in Next Twelve Months No authoritative reference available. false false Principal payment of debt obligations to non-consolidated variable interest entities in 2011
13 false 0 ip_DebtMaturitiesRepaymentsOfPrincipalAfterYearFive ipfalse credit instant Debt, Maturities, Repayments of Principal after Year Five false false false false false false false false false false terselabel 1 false false false 0 0 fal
se false false false false | 2 true false false 5100000000 5100000000 false false false false false | 3 false false false 0 0 falsefalse false false false | 4 false false false 0 0 false false false false false | 5 true false false 5100000000 5100000000 falsefalse false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 falsefalse false false false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 falsefalse false true false | 10 false false false 0 0 false false false true false | 11 false false false 0 0 falsefalse false true false | 12 false false false 0 0 false false false true false | 13 false false false 0 0
false false false true false | 14 false false false 0 0 false false false true false | 15 false false false 0 0 false
false false true false | 16 false false false 0 0 false false false true false | 17 false false false 0 0 falsefalse false true false | 18 false false false 0 0 false false false true false | 19 false false false 0 0 falsefalse false true false | 20 false false false 0 0 false false false true false | 21 false false false 0 0 falsefalse false true false | 22 false false false 0 0 false false false true false | 23 false false false 0 0 falsefalse false true false | 24 false false false 0 0 false false false true false | 25 false false false 0 0 false <
ShowCurrencySymbol>falsefalse true false | 26 false false false 0 0 false false false true false | 27 false false false 0 0 false falsefalse true false | 28 false false false 0 0 false false false true false | 29 false false false 0 0 false falsefalse true false | 30 false false false 0 0 false false false true false | 31 false false false 0 0 false falsefalse true false | 32 false false false 0 0 false false false true false | 33 false false false 0 0 false f
alse false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary Debt, Maturities, Repayments of Principal after Year Five No authoritative reference available. false false Principal payment of debt obligations to non-consolidated variable interest entities in 2016
14 false 0 ip_DebtObligationsOffsetAgainstPreferredInterest ip false credit instant Debt Obligations Offset Against Preferred Interest false false false false false false false false false false terselabel 1
false false false 0 0 false false false false false | 2 true false false 5700000000 5700000000 false false false false false | 3 false false false 0 0 false false false false false 4 false false false 0 0 false false false false false | 5 true false false 5700000000 5700000000 false false false false false | 6 false false false 0 0 false false false false false 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13
Id>false false false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 falsefalse false 0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 falsefalse false 0 0 false false false true false | 18 false false false 0 0 false false false true false | 19 f
alse false false 0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 false<
/IsNumeric>false false 0 0 false false false true false | 22 false false false 0 0 false false false true false | 23 falsefalse false 0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 false false false 0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 false falsefalse 0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 false
false false 0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false
false 0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false falsefalse 0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemTypemonetary Debt Obligations Offset Against Preferred Interest No authoritative reference available. false false Debt obligations offset against Class B interests
15 false 0 us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths us-gaap true credit instant No definition available. false false false false false false false false false false 1 false false false 0 0 false false false false false | 2 true false false 313000000 313000000 falsefalse false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 falsefalse false false false | 5 true false false 313000000 313000000 false false false false false | 6 false false false 0 0 falsefalse false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 falsefalse false true false | 9 false false false 0 0 false false false true false | 10 false false false 0 0 falsefalse false true false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 f
alse false false true false | 13 false false false 0 0 false false false true false | 14 false false false 0 0 false<
/IsIndependantCurrency>false false true false | 15 false false false 0 0 false false false true false | 16 false false false 0 0 falsefalse false true false | 17 false false false 0 0 false false false true false | 18 false false false 0 0 falsefalse false true false | 19 false false false 0 0 false false false true false | 20 false false false 0 0 falsefalse false true false | 21 false false false 0 0 false false false true false | 22 false false false 0 0 falsefalse false true false | 23 false false false 0 0 false false false true false | 24 false false false 0 0 false falsefalse true false | 25 false false false 0 0 false false false true false | 26 false false false 0 0 false falsefalse true false | 27 false false false 0 0 false false false true false | 28 false false false 0 0 false falsefalse true false | 29 false false false 0 0 false false false true false | 30 false false false 0 0 false falsefalse true false | 31 false false false 0 0 false false false true false | 32 false false false 0 0 false fa
lse false true false | 33 false false false 0 0 false false false true false | 34 false false false 0 0 false false
ShowCurrencySymbol>false true false | Monetary xbrli:monetaryItemType monetary Amount of long-term debt maturing within the next twelve months following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 47
-Paragraph 10
-Subparagraph b
false false Long-term debt maturities in year 2011
16 false 0 us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo us-gaap true credit instant No definition available. false false false false false false false false false false 1 false fal
se false 0 0 false false false false false | 2 true false false 324000000 324000000 false false false false false | 3 false falsefalse 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 true false false 324000000 324000000 false false false false false | 6 false false false 0 0 false false false false false | 7 falsefalse false 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false falsefalse 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false fals
e false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false falsefalse 0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 false false false 0 0 false false false true false | 18 false false false 0 0 false false false true false | 19 false false false0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 false false false0 0 false false false true false | 22 false false false 0 0 false false false true false | 23 false false false0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 false false
false 0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 false false false
0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 false false false0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false false0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemTypemonetary Amount of long-term debt maturing in year two following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 47
-Paragraph 10
-Subparagraph b
false false Long-term debt maturities in year 2012
17 false 0 us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree us-gaap true credit instant No definition available. false false false false false false false false false false 1 false f
alse false 0 0 false false false false false | 2 true false false 135000000 135000000 false false false false false | 3 false
false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 true falsefalse 135000000 135000000 false false false false false | 6 false false false 0 0 false false false false false | 7 falsefalse false 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false <
IsRatio>falsefalse 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false falsefalse 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false fa
lse false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false
IsRatio>false 0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 false falsefalse 0 0 false false false true false | 18 false false false 0 0 false false false true false | 19 false false false0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 false false false0 0 false false false true false | 22 false false false 0 0 false false false true false | 23 false false false0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 false false false0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 false false fal
se 0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 false false false0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false false0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemTypemonetary Amount of long-term debt maturing in year three following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 47
-Paragraph 10
-Subparagraph b
false false Long-term debt maturities in year 2013
18 false 0 us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour us-gaap true credit instant No definition available. false false false false false false false false false false 1 false fa
lse false 0 0 false false false false false | 2 true false false 559000000 559000000 false false false false false | 3 false <
IsRatio>falsefalse 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 true falsefalse 559000000 559000000 false false false false false | 6 false false false 0 0 false false false false false | 7 falsefalse false 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false falsefalse 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false falsefalse 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false fal
se false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false falsefalse 0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 false falsefalse 0 0 false false false true false | 18 false false false 0 0 false false false true false | 19 false false false0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 false false false0 0 false false false true false | 22 false false false 0 0 false false false true false | 23 false false false0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 false false false 0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 false false fals
e 0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 false false false0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false false0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemTypemonetary Amount of long-term debt maturing in year four following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 47
-Paragraph 10
-Subparagraph b
false false Long-term debt maturities in year 2014
19 false 0 us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive us-gaap true credit instant No definition available. false false false false false false false false false false 1 false fa
lse false 0 0 false false false false false | 2 true false false 786000000 786000000 false false false false false | 3 false <
IsRatio>falsefalse 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 true falsefalse 786000000 786000000 false false false false false | 6 false false false 0 0 false false false false false | 7 falsefalse false 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false falsefalse 0 0 false false false true false | 10 false false false 0 0 false false false true false | 11 false falsefalse 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false fal
se false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false falsefalse 0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 false falsefalse 0 0 false false false true false | 18 false false false 0 0 false false false true false | 19 false false false0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 false false false0 0 false false false true false | 22 false false false 0 0 false false false true false | 23 false false false0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 false false false 0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 false false fals
e 0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 false false false0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false false0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 false false false0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemTypemonetary Amount of long-term debt maturing in year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 47
-Paragraph 10
-Subparagraph b
false false Long-term debt maturities in year 2015
20 false 0 ip_ShortTermObligationsReclassificationToLongTermObligations ip false credit instant Short Term Obligations Reclassification to Long Term Obligations false false false false false false false false false false terselabel 1 false false false 0 0 false false false false false | 2 true false false 100000000 100000000 false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 true false false 100000000 100000000 false false false false false | 6 true false false 450000000 450000000 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false false false true false | 10 false false false 0 0 false false false true
false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 false false false true false
| 13 false false false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false false 0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 false false false 0 0 false false false true false | 18 false false false 0 0 false false false true false
| 19 false false false 0 0 false false false true false | 20 false false false 0 0 false false false true false 21 false false false 0 0 false false false true false | 22 false false false 0 0 false false false true false | 23 false false false 0 0 false false false true false | 24 false false false 0 0 false false false true false | 25false false false 0 0 false false false true false | 26 false false false 0 0 false false false true false | 27<
/Id>false false false 0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 <
IsNumeric>falsefalse false 0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 falsefalse false 0 0 false false false true false | 32 false false false 0 0 false false false true false | 33
false false false 0 0 false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary Short Term Obligations Reclassification to Long Term Obligations No authoritative reference available. false false Reclassification of current maturities of long-term debt as long-term debt
21 false 0 ip_MaximumUSDLimitRevolvingCreditFacilityForCommercialPaperProgram ip false credit instant Maximum USD Limit Revolving Credit Facility for Commercial Paper Program false false false false
false false false false false false terselabel 1 false false false 0 0 false false false false false | 2 false false false 0 0
RoundedNumericAmount>false false false false false | 3 false false false 0 0 false false false false false | 4 false false false 0 0false false false false false | 5 false false false 0 0 false false false false false | 6 false false false 0 0false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0false false false true false | 9 false false false 0 0 false false false true false | 10 false false false 0 0
false false false true false | 11 false false false 0 0 false false false true false | 12 false false false 0 0 false false false true false | 13 false false false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false false 0 0 false false false true false | 16 false false false 0 0 false false false true false | 17 false false false 0 0 false false false true false | 18 false false false 0 0 <
NonNumericTextHeader />false false false true false | 19 false false false 0 0 false false false true false | 20 false false false 0 0 false false false true false | 21 false false false 0 0 false false false true false | 22 false false false 0 0 false false false true false | 23 false false false 0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 false false false 0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 false false false 0 0 false false false true false | 28 false false false 0 0 false false false true false | 29 false false false 0 0 false false false true false | 30 false false false 0 0 false false false true false | 31 false false false 0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 true false false 877000000 877000000 false false false true false | 34 true false false 1000000000 1000000000 false false false true false | Monetary xbrli:monetaryItemType monetary Maximum USD Limit Revolving Credit Facility for Commercial Paper Program No authoritative reference available. false false Available commercial paper-based financings
22 false 0 ip_AvailableLiquidityFacilities ip false credit instantAvailable liquidity facilities with outside banks and third parties. false false false false false false false false false false terselabel 1 false false false 0 0 false false falsefalse false | 2 false false false 0 0 false false false false false | 3 false false false 0 0 false false falsefalse false | 4 false false false 0 0 false false false false false | 5 false false false 0 0 false false falsefalse false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false falsefalse false | 8 false false false 0 0 false false false true false | 9 false false false 0 0 false false false truefalse | 10 false false false 0 0 false false false true false | 11 false false false 0 0 false false false truefalse | 12 false false false 0 0 false false false true false | 13 false false false 0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false false 0 0 false false false true
false | 16 false false false 0 0 false false false true false | 17 false false false 0 0 false false false truefalse | 18 false false false 0 0 false false false true false | 19 false false false 0 0 false false false truefalse | 20 false false false 0 0 false false false true false | 21 false false false 0 0 false false false true <
hasScenarios>false | 22 false false false 0 0 false false false true false | 23 false false false 0 0 false false false true false | 24 false false false 0 0 false false false true false | 25 false false false 0 0 false false false true false | 26 false false false 0 0 false false false true false | 27 false false false 0 0 false false false true fa
lse | 28 false false false 0 0 false false false true false | 29 false false false 0 0 false false false true false
hasScenarios> | 30 false false false 0 0 false false false true false | 31 false false false 0 0 false false false true false | 32 false false false 0 0 false false false true false | 33 true false false 2500000000 2500000000 false false false true
false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary Available liquidity facilities with outside banks and third parties. No authoritative reference available. false false Contractually committed credit facilities
23 false0 ip_CreditFacilityCommitmentFee ip false na instant Credit facility, commitment fee false false false false false false false false false false terselabel 1 false true false 0 0 false false false false false | 2 false true false 0 0 false false false false false | 3 false true false 0 0 false false false false false | 4 false true false 0 0 false false false false false | 5 false true false 0 0 <
FootnoteIndexer />false false false false false | 6 false true false 0 0 false false false false false | 7 false true false 0 0 false false false false false | 8 false true false 0 0 false false false true false | 9 false true false 0 0 false false false true false | 10 false true false 0 0 false false false true false | 11 false true false 0 0 false false false true false | 12 false true false 0 0 false false false true false | 13 false true false 0 0 false false false true false | 14 false true false 0 0 false false false true false | 15 false true false 0 0 false false false true false | 16 false true false 0 0 false false false true false | 17 false true false 0 0 false false false true false | 18 false true false 0 0 false false false true false | 19 false true false 0 0 false false false true false | 20 false true false 0 0 false false false true false | 21 false true false 0 0 falsefalse false true false | 22 false true false 0 0 false false false true false | 23 false true false 0 0 falsefalse false true false | 24 false true false 0 0 false false false true false | 25 false true false 0 0 falsefalse false true false | 26 false true false 0 0 false false false true false | 27 false true false 0 0 fal
se false false true false | 28 false true false 0 0 false false false true false | 29 false true false 0 0 falsefalse false true false | 30 false true false 0 0 false false false true false | 31 false true false 0 0 falsefalse false true false | 32 true true false 0.005 0.005 false false false true false | 33 false true false 0 0 falsefalse false true false | 34 true true false 0.004 0.004 false false false true false | Other us-types:percentItemType pure Credit facility, commitment fee No authoritative reference available. falsefalse Credit agreement facility fee
24 false 0 ip_CreditFacilitiesNoLongerAvailable ip false credit instant Credit Facilities No Longer Available false false false false false false false false false false terselabel 1 false false false0 0 false false false false false | 2 false false false 0 0 false false false false false | 3 false false false0 0 false false false false false | 4 false false false 0 0 false false false false false | 5 false false false0 0 false false false false false | 6 false false false 0 0 false false false false false | 7 false false false 0 0 false false false false false | 8 false false false 0 0 false false false true false | 9 false false false 00 false false false true false | 10 false false false 0 0 false false false true false | 11 false false false 00 false false false true false | 12 false false false 0 0 false false false true false | 13 false false false
0 0 false false false true false | 14 false false false 0 0 false false false true false | 15 false false false 00 false false false true false | 16 false false false 0 0 false false false true false | 17 false false false 00 false false false true false | 18 false false false 0 0 false false false true false | 19 false false false 00 false false false true false | 20 false false false 0 0 false false false true false | 21 false false false 0 0false false false true false | 22 false false false 0 0 false false false true false | 23 false false false 0 0false false false true false | 24 false false false 0 0 false false false true false | 25 false false false 0 0false false false true false | 26 false false false 0 0 false false false true false | 27 false false false 0 0false false false true false | 28 false false false 0 0 false false false true false | 29 false false false 0 0
false false false true false | 30 false false false 0 0 false false false true false | 31 true false false 1500000000 1500000000false true false true false | 32 false false false 0 0 false false false true false | 33 false false false 0 0false false false true false | 34 false false false 0 0 false false false true false | Monetary xbrli:monetaryItemType monetary Credit Facilities No Longer AvailableNo authoritative reference available. false false Revolving credit facilities available
34 20 Debt and Lines of Credit (Narrative) (Details) NoRounding UnKnown UnKnown UnKnown true true
XML
73
R67.xml
IDEA: Goodwill and Other Intangibles (Narrative) (Details)
2.2.0.25 true false 40801 - Disclosure - Goodwill and Other Intangibles (Narrative) (Details) true false In Millions false 1 false false USD false false 1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 false false USD false false 1/1/2009 - 12/31/2009
USD ($)
USD ($) / shares
$ Duration_1_1_2009_To_12_31_2009 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit16 Standard http://xbrl.us/us-types/2009-01-31 gal xbrlus 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 USD USD
$ 3 false false USD false false 1/1/2008 - 12/31/2008
USD ($)
USD ($) / shares
$ Duration_1_1_2008_To_12_31_2008 http://www.sec.gov/CIK 0000051434 duration 2008-01-01T00:00:00 2008-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 4 false false USD true false {us-gaap_GoodwillBySegmentAxis} : European Coated Paperboard Business [Member]
10/1/2008 - 12/31/2008
USD ($)
$ Duration_10_1_2008_To_12_31_200811 http://www.sec.gov/CIK 0000051434 duration 2008-10-01T00:00:00 2008-12-31T00:00:00 false false European Coated Paperboard Business [Member] us-gaap_GoodwillBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_EuropeanCoatedPaperboardBusinessMember us-gaap_GoodwillBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/20
03/iso4217 USD iso4217 0 USD USD $ 5 false false USD true false {us-gaap_GoodwillBySegmentAxis} : U.S. Coated Paperboard Business [Member]
10/1/2008 - 12/31/2008
USD ($)
$ Duration_10_1_2008_To_12_31_200812 http://www.sec.gov/CIK 0000051434 duration 2008-10-01T00:00:00 2008-12-31T00:00:00 false false U.S. Coated Paperboard Business [Member] us-gaap_GoodwillBySegmentAxis xbrldi http://xbrl.org/2006/xbrldi ip_U.S.CoatedPaperboardBusinessMember us-gaap_GoodwillBySegmentAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso42
17 USD iso4217 0 USD USD $ 6 false false USD true false {us-gaap_GoodwillBySegmentAxis} : U.S. Printing Papers Business [Member]
1/1/2008 - 12/31/2008
USD ($)
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<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 5 ACQUISITIONS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2010: </b>On June 30, 2010, International Paper completed the acquisition of SCA Packaging Asia (SCA) for a preliminary purchase price of $<font class="_mt">205</font> million, including $<font class="_mt">171</font> million in cash plus assumed debt of $<font class="_mt">34</font> million, subject to post-closing adjustments. The SCA packaging business in Asia consists of <font class="_mt">13</font> corrugated box plants and <font class="_mt">two</font> specialty packaging facilities, which are primarily in China, along with locations in Singapore, Malaysia and Indonesia. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table summarizes the preliminary allocation of the purchase price to the fair value of assets and liabilities acquired. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="90%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and temporary investments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>19</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>71</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inventory</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>24</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other current assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>102</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax asset</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other intangible assets</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total assets acquired</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>283</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts payable and accrued liabilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>65</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred tax liability</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Non-controlling interest</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total liabilities assumed</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>78</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Net assets acquired</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>205</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The purchase price allocation will be finalized in the first half of 2011. </font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify">The identifiable intangible assets acquired in connection with the SCA acquisition included the following: </p></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="59%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Estimated</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fair Value</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Average</b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Remaining</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Useful Life</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Asset Class:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(at acquisition<br />date)</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Land-use rights</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Customer relationships</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16 years</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>38</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>2008: </b>On August 4, 2008, International Paper completed the acquisition of the assets of Weyerhaeuser Company's Containerboard, Packaging and Recycling (CBPR) business for approximately $<font class="_mt">6</font> billion in cash, subject to post-closing adjustments. In June 2008, the Company had issued $<font class="_mt">3</font> billion of unsecured senior notes in anticipation of the acquisition. The remainder of the purchase price was financed through borrowings under a $<font class="_mt">2.5</font> billion bank term loan, $<font class="_mt">0.4</font> billion of borrowings under a receivables securitization program and existing cash balances. The CBPR operating results are included in International Paper's North American Industrial Packaging business from the date of acquisition. </font></p&
gt;
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table summarizes the final allocation of the purchase price, plus direct acquisition costs, to the fair value of assets and liabilities acquired. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="87%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Cash and temporary investments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">655</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Inventory</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">568</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other current assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Plants, properties and equipment, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4,816</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">445</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Deferred charges and other assets</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">63</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total assets acquired</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,625</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts payable and accrued liabilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">463</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other liabilities</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">85</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total liabilities assumed</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">548</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net assets acquired</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,077</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The identifiable intangible assets acquired in connection with the CBPR acquisition included the following: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="59%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Estimated</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Remaining</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Useful Life</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Asset Class:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> <br /> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(at acquisition<br />date</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> <br />) </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Tradenames</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 12 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Patented technology</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 12 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Proprietary software</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4 - 5 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Power agreements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1 - 7 years</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Water rights</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Indefinite</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">65</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In connection with the purchase price allocation, inventories were written up by approximately $<font class="_mt">39</font> million before taxes ($<font class="_mt">24</font> million after taxes) to their estimated fair value. As the related inventories were sold during the 2008 third quarter, this amount was included in Cost of products sold for the quarter. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Additionally, Selling and administrative expenses for the years ended 2009 and 2008 included $<font class="_mt">87</font> million in charges before taxes ($<font class="_mt">54</font> million after taxes) and $<font class="_mt">45</font> million in charges before taxes ($<font class="_mt">28</font> million after taxes), respectively, for integration costs associated with the acquisition. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following unaudited pro forma information for the year ended December 31, 2008 represents the results of operations of International Paper as if the CBPR acquisition had occurred on January 1, 2008. This pro forma information does not purport to represent International Paper's actual results of operations if the transaction described above would have occurred on January 1, 2008, nor is it necessarily indicative of future results. Pro forma information related to the acquisition of SCA Packaging Asia has not been included as it does not have a material effect on the Company's consolidated results of operations. </font></p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="86%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions, except per share amounts</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net sales</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27,920</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,348</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net earnings (loss) (1)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,361</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td valign="bottom">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Earnings (loss) from continuing operations per common share</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Net earnings (loss) per common share (1)</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3.23</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
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<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(1)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Attributable to International Paper Company common shareholders.</i></font></p></td></tr></table></div> </div> NOTE 5 ACQUISITIONS
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1/1/2010 - 12/31/2010
USD ($)
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1/1/2009 - 12/31/2009
USD ($)
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1/1/2008 - 12/31/2008
USD ($)
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1/1/2010 - 12/31/2010
USD ($)
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1/1/2009 - 12/31/2009
USD ($)
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1/1/2008 - 12/31/2008
USD ($)
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-Number 210
-Section 09
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-Publisher SEC
-Name Regulation S-X (SX)
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-Section 09
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-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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-Article 12
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-Name Regulation S-X (SX)
-Number 210
-Section 09
-Article 12
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1/1/2010 - 12/31/2010
USD ($)
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1/1/2009 - 12/31/2009
USD ($)
$ Duration_1_1_2009_To_12_31_200946 http://www.sec.gov/CIK 0000051434 duration 2009-01-01T00:00:00 2009-12-31T00:00:00 false false Restructuring reserves [Member] us-gaap_ValuationAllowancesAndReservesTypeAxis xbrldi http://xbrl.org/2006/xbrldi us-gaap_BusinessRestructuringReservesMember us-gaap_ValuationAllowancesAndReservesTypeAxis explicitMember Unit12 Standard
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1/1/2008 - 12/31/2008
USD ($)
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-Number 210
-Section 09
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-Section 09
-Article 12
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-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 09
-Article 12
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-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 09
-Article 12
false false Balance at End of Period
1
Allowance for doubtful accounts acquired in the Weyerhaeuser Containerboard, Packaging and Recycling acquisition. 2
Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments. 3
Includes payments and deductions for reversals of previously established reserves that were no longer required. 3 12 Valuation and Qualifying Accounts (Details) (USD $) Millions UnKnown UnKnown UnKnown false true
XML
79
R14.xml
IDEA: Supplementary Financial Statement Information
2.2.0.25 false false 10701 - Disclosure - Supplementary Financial Statement Information true false false 1 false false USD false false 1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
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tionAbstract ip false na duration Supplementary Financial Statement Information [Abstract] false false false false false false false false false false 1 false false false 0 0 falsefalse false false false | Other xbrli:stringItemType string Supplementary Financial Statement Information [Abstract] false false Supplementary Financial Statement Information
3 false 0 ip_SupplementalFinancialInformationDisclosureTextBlock ip false na duration Supplemental Financial Information Disclosure false false falsefalse false false false false false false terselabel 1 false false false 0 0 <div>
<div><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 7 SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>ACCOUNTS AND NOTES RECEIVABLE</b></font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Accounts and notes receivable, net of allowances, by classification were: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accounts and notes receivable:</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Trade</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,854</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,476</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>185</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">219</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,039</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,695</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;"> </p></div></div><font style="font-family: ARIAL;" class="_mt" size="1"><b>INVENTORIES </b></font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Inventories by major category were: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="76%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Raw materials</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>419</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">307</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Finished pulp, paper and packaging products</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,505</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,443</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Operating supplies</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>364</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">377</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>59</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">52</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Inventories</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,347</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,179</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The last-in, first-out inventory method is used to value most of International Paper's U.S. inventories. Approximately <font class="_mt">69</font>% of total raw materials and finished products inventories were valued using this method. If the first-in, first-out method had been used, it would have increased total inventory balances by approximately $<font class="_mt">334</font> million and $<font class="_mt">306</font> million at December 31, 2010 and 2009, respectively. </font></p>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PLANTS, PROPERTIES AND EQUIPMENT </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Plants, properties and equipment by major classification were: </font></p></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="72%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Pulp, paper and packaging facilities</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Mills</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>22,935</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22,615</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging plants</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,534</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,348</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Other plants, properties and equipment</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,524</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,542</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Gross cost</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30,993</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">30,505</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Less: Accumulated depreciation</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18,991</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">17,817</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Plants, properties and equipment, net</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>12,002</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12,688</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Depreciation expense was $<font class="_mt">1.4</font> billion for each of the years ended December 31, 2010 and 2009, and $<font class="_mt">1.3</font> billion for the year ended December 31, 2008. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>INTEREST </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Cash payments related to interest were as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest payments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>657</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">656</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">597</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Amounts related to interest were as follows: </font></p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>643</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">702</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">572</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest income (a)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>35</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Capitalized interest costs</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>14</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">27</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Interest expense and interest income exclude approximately $<font class="_mt">44</font> million, $<font class="_mt">117</font> million and $<font class="_mt">233</font> million in 2010, 2009 and 2008, respectively, related to investments in and borrowings from variable interest entities for which the Company has a legal right of offset (see Note 11). </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>SALE OF FORESTLANDS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">On September 23, 2010, the Company finalized the sale of <font class="_mt">163,000</font> acres of properties located in the southeastern United States to an affiliate of Rock Creek Capital (the Partnership) for $<font class="_mt">199</font> million, resulting in a $<font class="_mt">50</font> million pre-tax gain ($<font class="_mt">31</font> million after taxes), after expenses. Cash of $<font class="_mt">160</font> million was received at closing, with the balance of $<font class="_mt">39</font> million, plus interest, to be received no later than three years from closing. In addition, the Company has received a <font class="_mt">20</font>% profits interest in the Partnership. The gain on this sale is included in Cost of products sold in the accompanying consolidated statemen
t of operations.</font></p> </div> NOTE 7 SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION
ACCOUNTS AND NOTES RECEIVABLE
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USD ($)
USD ($) / shares
$ Duration_1_1_2010_To_12_31_2010 http://www.sec.gov/CIK 0000051434 duration 2010-01-01T00:00:00 2010-12-31T00:00:00 Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit15 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance sharesxbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/instance pure xbrli 0 USD USD $ 2 true 0 ip_GoodwillAndOtherIntangiblesAbstractip false na duration Goodwill and Other Intangibles [Abstract] false false false false false false false false false false 1 false false false 0 0 false false false false false | Other xbrli:stringItemType string Goodwill and Other Intangibles [Abstract] false false Goodwill and Other Intangibles
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<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 8 GOODWILL AND OTHER INTANGIBLES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>GOODWILL </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following tables present changes in the goodwill balances as allocated to each business segment for the years ended December 31, 2010 and 2009: </font></p>
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<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td> </td>
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<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
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<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
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<td valign="bottom" width="8%"> </td>
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<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Printing</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Papers</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Distri-<br />bution</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance as of January 1, 2010</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Goodwill</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,131</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,423</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,765</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,719</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Accumulated</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> impairment losses (a)</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,765</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,664</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,429</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,131</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>658</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>101</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>400</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,290</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Reclassifications and other (b)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>22</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>22</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Additions/reductions</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" class="MetaData" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(c) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(27</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>)(d) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Balance as of December 31, 2010</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Goodwill</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,151</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,418</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,768</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>400</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5,737</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Accumulated</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b> impairment losses (a)</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,765</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1,664</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,429</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1,151</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>653</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>104</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>400</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2,308</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<div>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents accumulated goodwill impairment charges since the adoption of ASC 350, "Intangibles – Goodwill and Other" in 2002. </i></font></p></td></tr></table></div>
<div>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents the effects of foreign currency translations and reclassifications. </i></font></p></td></tr></table></div>
<div>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents the preliminary purchase price allocation related to the acquisition of SCA Packaging Asia. </i></font></p></td></tr></table></div>
<div>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. </i></font></p></td></tr></table></div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="42%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Industrial</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Printing<br />Papers</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Consumer</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Packaging</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Distri-<br />bution</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance as of January 1, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">989</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,302</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,766</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,456</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"> impairment losses (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,765</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,664</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,429</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">989</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">537</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">399</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,027</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Reclassifications and other (b)</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Additions/reductions</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">140</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(c) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(25</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">)(d) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">115</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Balance as of</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Goodwill</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,131</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,423</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,765</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">400</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,719</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Accumulated</font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"> impairment losses (a)</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,765</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(1,664</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,429</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,131</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">658</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">101</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">400</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2,290</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents accumulated goodwill impairment charges since the adoption of ASC 350, "Intangibles – Goodwill and Other" in 2002. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Represents the effects of foreign currency translations and reclassifications. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Reflects purchase accounting adjustments related to the CBPR acquisition. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. </i></font></p></td></tr></table></div></div>
<div> </div>
<div>
<div>In the fourth quarter of 2008, in conjunction with annual testing of its reporting units for possible goodwill impairments as of the beginning of the fourth quarter, the Company recorded a $<font class="_mt">59</font> million charge to write off all recorded goodwill of its European Coated Paperboard business. Subsequent to this testing date, the Company's market capitalization declined through December 31, 2008. The Company determined that this decline, and the deterioration during the fourth quarter in economic conditions, represented indicators that required interim testing at year end for possible additional goodwill impairment. As a result, the Company performed an interim test as of December 31, 2008 and recalculated the estimated fair value of its reporting units as of that date using updated future cash flow projections and higher cost-of-capital discount rate assumptions, which resulted in the goodwill for two additional business units, the Company's U.S. Pri
nting Papers business and its U.S. Coated Paperboard business, being potentially impaired. Based on management's preliminary estimates, an additional goodwill impairment charge of $<font class="_mt">379</font> million was recorded, representing all of the goodwill for the U.S. Coated Paperboard business, as this was management's best estimate of the minimum impairment charge that would be required upon the completion of a detailed allocation of the business unit fair values to the individual assets and liabilities of each of the respective reporting units. In February 2009, based on additional work performed to date, management determined that it was probable that all of the $1.3 billion of recorded goodwill for the U.S. Printing Papers business would be impaired when testing was completed. Accordingly, an additional goodwill impairment charge of $<font class="_mt">1.3</font> billion was recorded as a charge to operating results for the year ended December 31, 2008. During th
e first quarter of 2009, the Company finalized the testing for these businesses resulting in no changes to the recorded impairment charges. </div></div></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">No goodwill impairment charges were recorded in 2010 or 2009. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>OTHER INTANGIBLES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The net carrying amount of identifiable intangible assets (such as trade names, customer lists, patented technology, etc.), excluding goodwill, was as follows:</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="80%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions at December 31</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>261</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">248</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Company recognized the following amounts as amortization expense related to intangible assets: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="70%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Amortization expense related to intangible assets</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Based on current intangibles subject to amortization, estimated amortization expense for each of the suc –ceeding years is as follows: 2011 – $<font class="_mt">31</font> million, 2012 - $<font class="_mt">28</font> million, 2013 – $<font class="_mt">22</font> million, 2014 – $<font class="_mt">21</font> million, 2015 – $<font class="_mt">19</font> million, and cumulatively thereafter – $<font class="_mt">140</font> million.</font></p> </div> NOTE 8 GOODWILL AND OTHER INTANGIBLES
GOODWILL
The following tables present changes in the goodwill balances as allocated to each business segment for the false false false false false | Other us-types:textBlockItemType string Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount,
and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment
, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an im
pairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 42, 43, 44, 45, 46, 47
false false Goodwill and Other Intangibles
1 2 Goodwill and Other Intangibles UnKnown UnKnown UnKnown UnKnown false true
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 17 INCENTIVE PLANS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper currently has an Incentive Compensation Plan (ICP) which, upon the approval by the Company's shareholders in May 2009, replaced the Company's Long-Term Incentive Compensation Plan (LTICP). The ICP authorizes grants of restricted stock, restricted or deferred stock units, performance awards payable in cash or stock upon the attainment of specified performance goals, dividend equivalents, stock options, stock appreciation rights, other stock-based awards, and cash-based awards at the discretion of the Management Development and Compensation Committee of the Board of Directors (the Committee) that administers the ICP. Additionally, stock appreciation rights (SAR's) have been awarded to employees of a non-U.S. subsidiary, with <font class="_mt">3,070</font> and <font class="_mt">3,310</font> rights outstanding at December
31, 2010 and 2009, respectively. Restricted stock units (RSU's) were also awarded to certain non-U.S. employees with <font class="_mt">26,150</font> and <font class="_mt">44,100</font> units outstanding at December 31, 2010 and 2009, respectively. Additionally, restricted stock, which may be deferred into RSU's, may be awarded under a Restricted Stock and Deferred Compensation Plan for Non-Employee Directors. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>STOCK OPTION PROGRAM </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper accounts for stock options in accordance with guidance under ASC 718, "Compensation – Stock Compensation." Compensation expense is recorded over the related service period based on the grant-date fair market value. Since all outstanding options were vested as of July 14, 2005, only replacement option grants are expensed. No replacement options were granted in 2008, 2009 or 2010. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During each reporting period, diluted earnings per share is calculated by assuming that "in-the-money" options are exercised and the exercise proceeds are used to repurchase shares in the marketplace. When options are actually exercised, option proceeds are credited to equity and issued shares are included in the computation of earnings per common share, with no effect on reported earnings. Equity is also increased by the tax benefit that International Paper will receive in its tax return for income reported by the optionees in their individual tax returns. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Under the program, upon exercise of an option, a replacement option may be granted under certain circumstances with an exercise price equal to the market price at the time of exercise and with a term extending to the expiration date of the original option. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Company has discontinued the issuance of stock options for all eligible U.S. and non-U.S. employees. In the United States, the stock option program was replaced with a performance-based restricted share program to more closely tie long-term incentive compensation to Company performance on two key performance drivers: return on investment (ROI) and total shareholder return (TSR). </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following summarizes the status of the Stock Option Program and the changes during the three years ending December 31, 2010: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
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<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Options</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(a,b)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Exercise</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Price</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Remaining</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Life</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(years)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Aggregate</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Intrinsic</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Value</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(thousands)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28,013,735</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1,115</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Exercised</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(14,800</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31.55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(189,158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">43.44</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expired</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,716,655</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40.83</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">25,093,122</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.68</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3.66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Exercised</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(558,470</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">44.40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expired</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(2,317,595</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">42.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">22,217,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39.24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2.73</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Exercised</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(43,068</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>34.36</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Expired</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(3,928,736</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>46.29</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 0px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; text-indent: -1em; margin-bottom: 1px; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18,245,253</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37.73</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2.30</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The table does not include Continuity Award tandem stock options described below. No fair market value is assigned to these options under ASC 718. The tandem restricted shares accompanying these options are expensed over their vesting period. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>The table includes options outstanding under an acquired company plan under which options may no longer be granted. </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>PERFORMANCE-BASED RESTRICTED SHARES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Under the Performance Share Program (PSP), contingent awards of International Paper common stock are granted by the Committee. The PSP awards are earned over a three-year period. One-fourth of the award is earned during each twelve-month period, with the final one-fourth segment earned over the full three-year period. PSP awards are earned based on the achievement of defined performance rankings of ROI and TSR compared to ROI and TSR peer groups of companies. Awards are weighted <font class="_mt">75</font>% for ROI and <font class="_mt">25</font>% for TSR for all participants except for officers for whom the awards are weighted <font class="_mt">50</font>% for ROI and <font class="_mt">50</font>% for TSR. The ROI component of the PSP awards is valued at the closing stock price on the day prior to the grant date. As the ROI componen
t contains a performance condition, compensation expense, net of estimated forfeitures, is recorded over the requisite service period based on the most probable number of awards expected to vest. The TSR component of the PSP awards is valued using a Monte Carlo simulation as the TSR component contains a market condition. The Monte Carlo simulation estimates the fair value of the TSR component based on the expected term of the award, a risk-free rate, expected dividends, and the expected volatility for the Company and its competitors. The expected term is estimated based on the vesting period of the awards, the risk-free rate is based on the yield on U.S. Treasury securities matching the vesting period, the expected dividends are assumed to be zero for all companies, and the volatility is based on the Company's historical volatility over the expected term. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">PSP awards issued to certain members of senior management are accounted for as liability awards, which are remeasured at fair value at each balance sheet date. The valuation of these PSP liability awards is computed based on the same methodology as the PSP equity awards. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table sets forth the assumptions used to determine compensation cost for the market condition component of the PSP plan: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Twelve Months Ended</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Expected volatility</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33.83%</b></font></font> - <font class="_mt">62.33%</font></b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Risk-free interest rate</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0.26%</b></font></font> -<font class="_mt">1.49%</font></b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The following summarizes PSP activity for the three years ending December 31, 2010: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<div class="MetaData">
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Shares</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Grant Date</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,217,012</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,984,146</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">36.26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,639,012</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">41.54</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(307,890</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">34.50</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,254,256</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32.69</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4,102,197</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">19.10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,576,109</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(714,294</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23.41</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6,066,050</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">24.28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3,842,626</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>28.93</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shares issued (a)</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(2,807,388</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33.25</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(288,694</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>21.83</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>6,812,594</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23.31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes <font class="_mt">165,127</font> shares related to retirements or terminations that are held for payout until the end of the performance period. </i></font></p></td></tr></table></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>EXECUTIVE CONTINUITY AND RESTRICTED STOCK AWARD PROGRAMS </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The Executive Continuity Award program provides for the granting of tandem awards of restricted stock and/or nonqualified stock options to key executives. Grants are restricted and awards conditioned on attainment of a specified age. The awarding of a tandem stock option results in the cancellation of the related restricted shares. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The service-based Restricted Stock Award program (RSA), designed for recruitment, retention and special recognition purposes, also provides for awards of restricted stock to key employees. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following summarizes the activity of the Executive Continuity Award program and RSA program for the three years ending December 31, 2010: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="67%"> </td>
<td valign="bottom" width="10%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Shares</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Weighted</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Average</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Grant Date</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Fair Value</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2007</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">122,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">37.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">18,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28.34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(35,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38.91</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(3,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.70</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2008</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">102,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Granted</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11.80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Shares issued</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(4,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28.74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Forfeited</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(20,000</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">35.49</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Outstanding at December 31, 2009</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">83,000</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">33.93</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Granted</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>177,000</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>25.63</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Shares issued</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(92,500</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>30.69</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Forfeited</b></font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Outstanding at December 31, 2010</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>167,500</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>26.95</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">At December 31, 2010, 2009 and 2008 a total of <font class="_mt">18.8</font> million, <font class="_mt">17.4</font> million and <font class="_mt">28.1</font> million shares, respectively, were available for grant under the ICP. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Total stock-based compensation cost recognized in Selling and administrative expense in the accompanying consolidated statement of operations for the years ended December 31, 2010, 2009 and 2008 was $<font class="_mt">73</font> million, $<font class="_mt">100</font> million and $<font class="_mt">66</font> million, respectively. The actual tax deduction realized for stock-based compensation costs related to non-qualified stock options was $<font class="_mt">0</font> for both of the years ended December 31, 2010 and 2009, and $<font class="_mt">19,000</font> for the year ended December 31, 2008. The actual tax deduction realized for stock-based compensation costs related to restricted and performance shares was $<font class="_mt">75</font> million, $<font class="_mt">28</fo
nt> million and $<font class="_mt">130</font> million for the years ended December 31, 2010, 2009 and 2008, respectively. At December 31, 2010, $<font class="_mt">62.8</font> million of compensation cost, net of estimated forfeitures, related to unvested restricted performance shares, executive continuity awards and restricted stock attributable to future performance had not yet been recognized. This amount will be recognized in expense over a weighted-average period of <font class="_mt">1.5</font> years. </font></p> </div> NOTE 17 INCENTIVE PLANS
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<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>NOTE 13 DERIVATIVES AND HEDGING ACTIVITIES </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper periodically uses derivatives and other financial instruments to hedge exposures to interest rate, commodity and currency risks. International Paper does not hold or issue financial instruments for trading purposes. For hedges that meet the hedge accounting criteria, International Paper, at inception, formally designates and documents the instrument as a fair value hedge, a cash flow hedge or a net investment hedge of a specific underlying exposure, as well as the risk management objective and strategy for undertaking each hedge transaction. Derivatives are recorded in the consolidated balance sheet at fair value, determined using available market information or other appropriate valuation methodologies, in Other current assets, Deferred charges and other assets, Other accrued liabilities or Other liabilities. The earnings impact resulting from changes in the
fair value of derivative instruments is recorded in the same line item in the consolidated statement of operations as the underlying exposure being hedged or in Accumulated other comprehensive income (AOCI) for derivatives that qualify as cash flow hedges. Any ineffective portion of a financial instrument's change in fair value is recognized currently in earnings together with changes in the fair value of any derivatives not designated as hedges. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Foreign exchange contracts are used by International Paper to offset the earnings impact relating to the variability in exchange rates on certain monetary assets and liabilities denominated in non-functional currencies and are not designated as hedges. Changes in the fair value of these instruments, recognized in earnings to offset the remeasurement of the related assets and liabilities, totaled a gain of approximately $<font class="_mt">33</font> million for the year ended December 31, 2010 and a loss of $<font class="_mt">50</font> million and $<font class="_mt">30</font> million for the years ended December 31, 2009 and 2008, respectively. As of December 31, 2010 and 2009, the outstanding undesignated foreign exchange contracts included the following: </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>UNDESIGNATED VOLUMES </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="11%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="11%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell / Buy</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell Notional</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Sell Notional</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. dollar / European euro</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>109</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">108</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / British pounds</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Polish zloty</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">39</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / U.S. dollar</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>85</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">South Korean won / U.S. dollar</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8,076</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3,629</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Interest rate swap agreements of $<font class="_mt">1</font> billion floating-to-fixed notional and an offsetting $<font class="_mt">1</font> billion fixed-to-floating notional that did not qualify as hedges under the accounting guidance during 2010 and matured in September 2010 resulted in a $<font class="_mt">22</font> million gain that was recognized in earnings for the year ended December 2010. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>FAIR VALUE HEDGES </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in earnings. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper utilizes interest rate swaps as fair value hedges of the benchmark interest rates of fixed rate debt. At December 31, 2010 and December 31, 2009, the outstanding notional amounts of interest rate swap agreements that qualify as fully effective fair value hedges were approximately $<font class="_mt">274</font> million and $<font class="_mt">1.1</font> billion, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended June 30, 2010, in connection with early debt extinguishment, interest rate swap agreements that were issued in the fourth quarter of 2009 with a notional value of $<font class="_mt">2</font> million were undesignated as effective fair value hedges. The resulting gain was immaterial. Also related to early debt extinguishment, deferred gains of $<font class="_mt">3</font> million related to previously terminated effective interest rate swaps were recognized in earnings. This gain is included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In June 2010, interest rate swap agreements issued in the fourth quarter of 2009 and designated as fair value hedges with a notional value of $<font class="_mt">100</font> million were terminated. The termination was not in connection with early retirement of debt. The resulting gain of $<font class="_mt">3</font> million was deferred and recorded in Long-term debt and is being amortized as an adjustment of interest expense over the life of the underlying debt through 2019. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In January 2010, approximately $<font class="_mt">700</font> million of fixed-to-floating interest rate swaps that were issued in 2009 were terminated. These terminations were not in connection with early debt retirements. The resulting $<font class="_mt">2</font> million gain was deferred and recorded in Long-term debt and is being amortized as an adjustment of interest expense over the life of the underlying debt through April 2015. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended March 31, 2010, a previously deferred gain of $<font class="_mt">1</font> million was recognized in earnings in connection with early debt retirements. This gain is included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended December 31, 2009, the Company entered into various fixed-to-floating interest rate swap agreements with a notional amount of approximately $<font class="_mt">1</font> billion to hedge existing debt. The interest rate swaps were effective December 2009 and would have matured within a range of <font class="_mt">five</font> to <font class="_mt">ten</font> years. Also in August of 2009, the Company entered into a fixed-to-floating interest rate swap agreement with a notional value of $<font class="_mt">100</font> million. The interest rate swap was effective <font class="_mt">August 2009</font> with an original maturity date in <font class="_mt">April 2015</font>. These interest rate swaps were designated as fully effective fair value hedges of t
he benchmark interest rate under ASC 815. Subsequently in 2010, the majority of these interest rate swaps were terminated or undesignated. See above for a discussion of the 2010 activity. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended September 30, 2009, in connection with various early debt retirements, interest rate swap hedges with a notional value of $<font class="_mt">520</font> million, including $<font class="_mt">500</font> million of swaps issued during the three months ended June 30, 2009, were terminated or undesignated as an effective fair value hedge resulting in a gain of approximately $<font class="_mt">9</font> million. This gain is included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During 2009, an interest rate swap agreement designated as a fair value hedge with a notional value of $<font class="_mt">100</font> million was terminated, resulting in a gain of $<font class="_mt">11</font> million that was deferred and recorded in Long-term debt. This gain will be amortized as an adjustment of interest expense over the life of the underlying debt through 2016. Also, previously deferred gains of $<font class="_mt">40</font> million related to earlier swap terminations were recognized in earnings in connection with early debt retirements. These gains are included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>CASH FLOW HEDGES </b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of AOCI and reclassified into earnings in the same period or periods in which the hedged transaction affects earnings. Financial instruments designated as cash flow hedges are assessed both at inception and quarterly thereafter to ensure they are effective in offsetting changes in the cash flows of the related underlying exposures. The fair value of the hedge instruments are reclassified out of AOCI to earnings if the hedge ceases to be highly effective or if the hedged transaction is no longer probable. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Interest Rate Risk </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper utilizes interest rate swaps as cash flow hedges of the benchmark interest rate of future interest payments. At December 31, 2010 and 2009, there were no outstanding interest rate swap agreements that qualified as cash flow hedges. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">In September 2009, the Company undesignated the $<font class="_mt">1</font> billion of interest rate swaps that qualified as cash flow hedges and entered into an offsetting $<font class="_mt">1</font> billion fixed-to-floating interest rate swap with a maturity date in September 2010 to minimize the earnings exposure from the undesignated swaps. Subsequently in December 2009 in connection with early debt retirements, a $<font class="_mt">24</font> million loss related to the fair value of these swaps was reclassified from AOCI and included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Also, during the three months ended September 30, 2009, in connection with various early debt retirements, unamortized deferred losses of approximately $<font class="_mt">10</font> million related to earlier swap terminations were reclassified from AOCI and included in Restructuring and other charges in the accompanying consolidated statement of operations. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">During the three months ended December 31, 2009, the Company entered into treasury rate lock agreements to fix interest rates on an anticipated issuance of debt. Upon issuance of the debt later in the quarter, these agreements generated a pre-tax loss of $<font class="_mt">3</font> million that was recorded in AOCI. This amount is being amortized to interest expense over the term of the bonds through August 2039, yielding an effective interest rate of <font class="_mt">7.3</font>%. </font></p><font style="font-family: ARIAL;" class="_mt" size="2">
</font>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><strong><em>Commodity Risk </em></strong></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">To minimize volatility in earnings due to large fluctuations in the price of commodities, International Paper utilizes swap contracts to manage risks associated with market fluctuations in energy prices. These contracts are designated as cash flow hedges of forecasted commodity purchases. At December 31, 2010, the hedged volumes of these energy contracts totaled <font class="_mt">200,000</font> barrels of fuel oil and <font class="_mt">12</font> Million British Thermal Units (MMBTUs) of natural gas. These contracts had maturities of <font class="_mt"><font class="_mt"><font class="_mt"><font class="_mt">two </font>years</font></font> or less</font> as of December 31, 2010. At December 31, 2009, the hedged volumes totaled <font class="_mt">9
00,000</font> barrels of fuel oil and <font class="_mt">21</font> MMBTUs of natural gas. Deferred losses totaling $<font class="_mt">15</font> million after taxes at December 31, 2010 are expected to be recognized through earnings within the next 12 months. </font></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;"><strong><em>Foreign Currency Risk </em></strong></p></div>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Foreign exchange contracts are also used as cash flow hedges of certain forecasted transactions denominated in foreign currencies to manage volatility associated with these transactions and to protect International Paper from currency fluctuations between the contract date and ultimate settlement. At December 31, 2010, these contracts have maturities of <font class="_mt">three</font> years or less. Deferred gains of $<font class="_mt">10</font> million after taxes at December 31, 2010 are expected to be recognized through earnings within the next 12 months. As of December 31, 2010 and December 31, 2009, the following outstanding foreign exchange contracts were entered into as cash flow hedges of forecasted transactions: </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>DESIGNATED VOLUMES </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="64%"> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,</b></font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell / Buy</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Sell Notional</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Sell Notional</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">U.S. dollar / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>74</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">265</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">British pounds / Brazilian real</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">European euro / Polish zloty</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>223</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">164</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">On June 30, 2010, foreign exchange contracts to sell <font class="_mt">123</font> million U.S. dollars and buy Brazilian reals were undesignated as cash flow hedges of an International Paper wholly-owned subsidiary's foreign exchange risk due to the forecasted transactions not being probable. In July 2010, the undesignated foreign exchange contracts were terminated resulting in cash received of $<font class="_mt">5</font> million. The change, a $<font class="_mt">3</font> million gain, in the fair value of the contracts since they were undesignated was recognized in earnings. The fair value of the contracts when they were undesignated, a $<font class="_mt">1</font> million gain after taxes, was deferred in AOCI since the forecasted transactions remained reasonably possible. The deferred gain will be reclas
sified out of AOCI to earnings when the forecasted transactions are no longer reasonably possible or when the hedged transactions affect earnings. As of December 31, 2010, the forecasted transactions remained reasonably possible. </font></p>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Fair Value Measurements </i></b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper's financial assets and liabilities that are recorded at fair value consist of derivative contracts, including interest rate swaps, foreign currency forward contracts, and other financial instruments that are used to hedge exposures to interest rate, commodity and currency risks. In addition, a consolidated subsidiary of International Paper has an embedded derivative. For these financial instruments and the embedded derivative, fair value is determined at each balance sheet date using an income approach. Below is a description of the valuation calculation and the inputs used for each class of contract: </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="1"><b>Interest Rate Contracts</b></font><font style="font-family: ARIAL;" class="_mt" size="2"> are valued using swap curves obtained from an independent market data provider. The market value of each contract is the sum of the fair value of all future interest payments between the contract counterparties, discounted to present value. The fair value of the future interest payments is determined by comparing the contract rate to the derived forward interest rate and present valued using the appropriate derived interest rate curve. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="1"><b>Fuel Oil Contracts</b></font><font style="font-family: ARIAL;" class="_mt" size="2"> are valued using the average of two forward fuel oil curves as quoted by third parties. The fair value of each contract is determined by comparing the strike price to the forward price of the corresponding fuel oil contract and present valued using the appropriate interest rate curve. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="1"><b>Natural Gas Contracts</b></font><font style="font-family: ARIAL;" class="_mt" size="2"> are traded over-the- counter and settled using the NYMEX last day settle price; therefore, forward contracts are valued using the closing prices of the NYMEX natural gas future contracts. The fair value of each contract is determined by comparing the strike price to the closing price of the corresponding natural gas future contract and present valued using the appropriate interest rate curve. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"><font class="_mt" size="1"> </font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="1"><b>Foreign Exchange Contracts</b></font><font style="font-family: ARIAL;" class="_mt" size="2"> are valued using the foreign currency forward and interest rate curves obtained from an independent market data provider. The fair value of each contract is determined by comparing the contract rate to the forward rate. The fair value is present valued using the applicable interest rate from an independent market data provider. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Embedded Derivatives</b> are valued using a hypothetical interest rate derivative with identical terms. The hypothetical interest rate derivative contracts are fair valued as described above under Interest Rate Contracts. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">Since the volume and level of activity of the markets that each of the above contracts are traded in has been normal, the fair value calculations have not been adjusted for inactive markets or disorderly transactions. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The guidance for fair value measurements and disclosures sets out a fair value hierarchy that groups fair value measurement inputs into three classifications: Level 1, Level 2 and Level 3. Level 1 inputs are quoted </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">prices in an active market for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Transfers between levels are recognized at the end of the reporting period. All of International Paper's fair value measurements use Level 2 inputs. The following table provides a summary of the impact of our derivative instruments in the consolidated balance sheet: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font size="2" class="_mt"> </font> </p></div>
<div class="MetaData">
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Fair Value Measurements </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Level 2 – Significant Other Observable Inputs </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="68%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom" colspan="6" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Assets</font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-top: #000000 1px solid;" valign="bottom" colspan="6" align="center"><font style="font-family: ARIAL;" class="_mt" size="1">Liabilities</font></td>
<td style="border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><i>In millions</i></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,<br />2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,<br />2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>December 31,<br />2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">December 31,<br />2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Derivatives designated as hedging instruments</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts – fair value</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>10</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(a) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(e) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(h) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fuel oil contracts – cash flow</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>3</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(b) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(f) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(i) </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Natural gas contracts – cash flow</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>32</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(g) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">38</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(j) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts – cash flow</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>18</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(c) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">32</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(h) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives designated as hedging instruments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">53</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>33</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Derivatives not designated as hedging instruments</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(h) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(k) </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Embedded derivatives</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>8</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(d) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(d) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(b) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(b) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>5</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(i) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">(i) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives not designated as hedging instruments</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>9</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">9</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>13</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">31</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1"><b>Total derivatives</b></font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>40</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">62</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>46</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">93</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr></table>
<p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;"> </p>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(a)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">3</font> million recorded in Accounts and notes receivable, net, and $<font class="_mt">7</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(b)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other current assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(c)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">13</font> million recorded in Other current assets and $<font class="_mt">5</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(d)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(e)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">2</font> million recorded in Accounts and notes receivable, net and $<font class="_mt">3</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(f)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">13</font> million recorded in Other current assets and $<font class="_mt">3</font> million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(g)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">27</font> million recorded in Other accrued liabilities and $<font class="_mt">5</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(h)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(i)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Included in Other accrued liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(j)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">26</font> million recorded in Other accrued liabilities and $<font class="_mt">12</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table>
<table style="border-collapse: collapse;" class="MetaData" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="14" align="left"><font style="font-family: ARIAL;" class="_mt" size="1"><i>(k)</i></font></td>
<td class="MetaData" valign="top" align="left">
<p align="justify"><font style="font-family: ARIAL;" class="_mt" size="1"><i>Includes $<font class="_mt">23</font> million recorded in Other accrued liabilities and $<font class="_mt">6</font> million recorded in Other liabilities in the accompanying consolidated balance sheet. </i></font></p></td></tr></table></div>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">The following table shows the change in AOCI, net of tax, related to derivative instruments: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="43%"> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="2%"> </td>
<td width="30%"> </td>
<td valign="bottom" width="8%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="1%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="10" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Gain or (Loss)</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Recognized in OCI</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Location of Gain or</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Loss) Reclassified</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">from OCI into Income</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="10" align="right">
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Gain) or Loss</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Reclassified from</font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">OCI into Income</font></p>
<p style="margin-top: 0px; margin-bottom: 1px;" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(Effective Portion)</font></p></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>2010</b></font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2009</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom" colspan="2" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">2008</font></td>
<td style="border-bottom: #000000 1px solid; border-top: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Interest rate contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(34</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Interest expense, net</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>0</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Fuel oil contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(1</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(4</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Natural gas contracts</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(13</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>15</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Foreign exchange contracts</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>37</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">51</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(34</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">Cost of products sold</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(42</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(19</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(51</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: ARIAL;" class="_mt" size="1">Total</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>23</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">40</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(106</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1"><b>(31</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">54</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: ARIAL;" class="_mt" size="1">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: ARIAL;" class="_mt" size="1">(55</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: ARIAL;" class="_mt" size="1">) </font></td></tr></table>
<p style="margin-top: 18px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Credit-Risk-Related Contingent Features </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;" align="justify"><font style="font-family: ARIAL;" class="_mt" size="2">International Paper evaluates credit risk by monitoring its exposure with each counterparty to ensure that exposure stays within acceptable policy limits. Credit risk is also mitigated by contractual provisions with the majority of our banks. Most of the contracts include a credit support annex that requires the posting of collateral by the counterparty or International Paper based on each party's rating and level of exposure. Based on the Company's current credit rating, the collateral threshold is generally $<font class="_mt">10</font> million. If the lower of the Company's credit rating by Moody's or S&P were to drop below investment grade, the Company would be required to post collateral for all of its derivatives in a net liability position, although no derivatives would terminate. The fair values of derivative instruments containing credit-risk-related c
ontingent features in a net liability position were $<font class="_mt">32</font> million as of December 31, 2010 and $<font class="_mt">65</font> million as of December 31, 2009. The Company was not required to post any collateral as of December 31, 2010 and an immaterial amount of collateral was posted as of December 31, 2009 due to exceeding the counterparty's collateral threshold in the normal course of business. In addition, existing derivative contracts (except foreign exchange contracts) provide for netting across most derivative positions in the event a counterparty defaults on a payment obligation. International Paper currently does not expect any of the counterparties to default on their obligations.</font></p> </div> NOTE 13 DERIVATIVES AND HEDGING ACTIVITIES
International Paper periodically uses derivatives and other financial instruments to hedge exposures to interest false false false false false | Other us-types:textBlockItemType string This element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of s
uch items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
false false Derivatives and Hedging Activities
1 2 Derivatives and Hedging Activities UnKnown UnKnown UnKnown UnKnown false true
ZIP
89
0001193125-11-046928-xbrl.zip
IDEA: XBRL DOCUMENT
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