INTERNATIONAL PAPER CO /NEW/, 10-K filed on 2/21/2025
Annual Report
v3.25.0.1
Document And Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 14, 2025
Jun. 30, 2023
Document and Entity Information [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Document Transition Report false    
Entity File Number 1-3157    
Entity Registrant Name INTERNATIONAL PAPER COMPANY    
Entity Incorporation, State or Country Code NY    
Entity Tax Identification Number 13-0872805    
Entity Address, Address Line One 6400 Poplar Avenue    
Entity Address, City or Town Memphis,    
Entity Address, State or Province TN    
Entity Address, Postal Zip Code 38197    
City Area Code 901    
Local Phone Number 419-9000    
Title of 12(b) Security Common Shares    
Trading Symbol IP    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float     $ 14,910,126,297
Entity Common Stock, Shares Outstanding   526,125,614  
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000051434    
Current Fiscal Year End Date --12-31    
Entity Voluntary Filers No    
ICFR Auditor Attestation Flag true    
Documents Incorporated by Reference
Portions of the registrant’s proxy statement filed within 120 days of the close of the registrant’s fiscal year in connection with registrant’s 2025 annual meeting of shareholders are incorporated by reference into Part III of this Form 10-K.
    
Document Financial Statement Error Correction [Flag] false    
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Audit Information
 12 Months Ended
Dec. 31, 2024
Auditor Information [Abstract]  
Auditor Name Deloitte & Touche LLP
Auditor Location Memphis, Tennessee
Auditor Firm ID 34
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Consolidated Statement Of Operations - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net sales [1],[2] $ 18,619 $ 18,916 $ 21,161
COSTS AND EXPENSES      
Cost of products sold 13,376 13,629 15,143
Selling and administrative expenses 1,840 1,360 1,293
Depreciation and amortization 1,305 1,432 1,040
Distribution expenses 1,475 1,575 1,783
Taxes other than payroll and income taxes 147 154 148
Restructuring and other charges, net 221 99 89
Net (gains) losses on sales and impairments of businesses 0 0 76
Net (gains) losses on sales of equity method investments 0 0 10
Net (gains) losses on sales of fixed assets (58) 0 0
Net (gains) losses on mark to market investments 0 0 (65)
Interest expense, net 208 231 325
Non-operating pension (income) expense (42) 54 (192)
Earnings (loss) from continuing operations before income taxes and equity earnings 147 382 1,511
Income tax provision (benefit) (415) 59 (236)
Equity earnings (loss), net of taxes (5) (21) (6)
EARNINGS (LOSS) FROM CONTINUING OPERATIONS 557 302 1,741
Discontinued operations, net of taxes 0 (14) (237)
NET EARNINGS (LOSS) $ 557 $ 288 $ 1,504
BASIC EARNINGS (LOSS) PER SHARE      
Earnings (loss) from continuing operations $ 1.60 $ 0.87 $ 4.79
Discontinued operations, net of taxes 0 (0.04) (0.65)
Net earnings (loss) 1.60 0.83 4.14
DILUTED EARNINGS (LOSS) PER SHARE      
Earnings (loss) from continuing operations 1.57 0.86 4.74
Discontinued operations, net of taxes 0 (0.04) (0.64)
Net earnings (loss) $ 1.57 $ 0.82 $ 4.10
[1] Net sales are attributed to countries based on the location of the seller.
[2] Net sales are attributed to countries based on the location of the reportable segment making the sale.
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Consolidated Statement of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
NET EARNINGS (LOSS) $ 557 $ 288 $ 1,504
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX      
Change in cumulative foreign currency translation adjustment (less tax of $0, $0 and $0) (121) 441 (28)
Net gains/losses on cash flow hedging derivatives (less tax of $0, $0 and $1) 0 0 2
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX (157) 360 (259)
Comprehensive income (loss) 400 648 1,245
U.S. Plans      
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX      
Amortization of pension and postretirement prior service costs and net loss: 69 87 85
Pension and postretirement liability adjustments: (102) (170) (327)
Non-U.S. Plans      
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX      
Amortization of pension and postretirement prior service costs and net loss: 0 (1) 1
Pension and postretirement liability adjustments: $ (3) $ 3 $ 8
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Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Change in cumulative foreign currency translation adjustment (less tax of $0, $0 and $0) $ 0 $ 0 $ 0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax 0 0 1
U.S. Plans      
Amortization of pension and postretirement prior service costs and net loss: 22 29 28
Pension and postretirement liability adjustments: (33) (56) (109)
Non-U.S. Plans      
Amortization of pension and postretirement prior service costs and net loss: 0 0 0
Pension and postretirement liability adjustments: $ 1 $ 0 $ 1
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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and temporary investments $ 1,170 $ 1,113
Accounts and notes receivable (less allowances of $30 in 2024 and $34 in 2023) 2,966 3,059
Contract assets 396 433
Inventories 1,784 1,889
Other current assets 108 114
Total Current Assets 6,424 6,608
Plants, Properties and Equipment, net 9,658 10,150
Investments 160 163
Long-Term Financial Assets of Variable Interest Entities (Note 14) 2,331 2,312
Goodwill 3,038 3,041
Overfunded Pension Plan Assets 92 118
Right of Use Assets 433 448
Deferred Charges and Other Assets 664 421
TOTAL ASSETS 22,800 23,261
Current Liabilities    
Notes payable and current maturities of long-term debt 193 138
Accounts payable 2,316 2,442
Accrued payroll and benefits 749 397
Other current liabilities 1,000 982
Total Current Liabilities 4,258 3,959
Long-Term Debt 5,368 5,455
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 14) 2,120 2,113
Deferred Income Taxes 1,072 1,552
Underfunded Pension Benefit Obligation 233 280
Postretirement and Postemployment Benefit Obligation 133 140
Long-Term Lease Obligations 292 312
Other Liabilities 1,151 1,095
Commitments and Contingent Liabilities (Note 13)
Equity    
Common stock $1 par value, 2024 - 448.9 shares and 2023 - 448.9 shares 449 449
Paid-in capital 4,732 4,730
Retained earnings 9,393 9,491
Accumulated other comprehensive loss (1,722) (1,565)
Total Shareholders' Equity Before Treasury Stock 12,852 13,105
Less: Common stock held in treasury, at cost, 2024 – 101.5 shares and 2023 – 102.9 shares 4,679 4,750
Total Equity 8,173 8,355
TOTAL LIABILITIES AND EQUITY $ 22,800 $ 23,261
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Consolidated Balance Sheet (Parenthetical) - USD ($)
shares in Thousands, $ in Millions
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Accounts Receivable, Allowance for Credit Loss, Current $ 30 $ 34
Common Stock, Par Value Per Share $ 1 $ 1
Common Stock, Shares, Outstanding 448,900 448,900
Treasury 101,500 102,900
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Consolidated Statement Of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES      
Net earnings (loss) $ 557 $ 288 $ 1,504
Depreciation and amortization 1,305 1,432 1,040
Deferred income tax provision (benefit), net (473) (156) (773)
Restructuring and other charges, net 221 99 89
Periodic pension (income) expense, net 1 94 (116)
Net (gains) losses on mark to market investments 0 0 (65)
Net (gains) losses on sales and impairments of businesses 0 0 76
Net (gains) losses on sales and impairments of equity method investments 0 153 543
Net (gains) losses on sales of fixed assets (58) 0 0
Equity method dividends received 0 13 204
Equity (earnings) losses, net 5 (108) (291)
Other, net 130 20 108
Changes in operating assets and liabilities      
Accounts and notes receivable 59 255 (59)
Contract assets 36 48 (103)
Inventories 12 73 (162)
Accounts payable and other liabilities (140) (402) 110
Interest payable 16 (19) 41
Other 7 43 28
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES 1,678 1,833 2,174
INVESTMENT ACTIVITIES      
Invested in capital projects (921) (1,141) (931)
Proceeds from sales of equity method investments, net of transaction costs 0 472 0
Proceeds from exchange of equity securities 0 0 311
Proceeds from insurance recoveries 25 0 0
Proceeds from sale of fixed assets 91 4 13
Other (3) (3) (1)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES (808) (668) (608)
FINANCING ACTIVITIES      
Repurchases of common stock and payments of restricted stock tax withholding (23) (218) (1,284)
Issuance of debt 102 783 1,011
Reduction of debt (141) (780) (1,017)
Change in book overdrafts (69) (8) 1
Dividends paid (643) (642) (673)
Net debt tender premiums paid 0 0 (89)
Other (1) (1) (3)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES (775) (866) (2,054)
Effect of Exchange Rate Changes on Cash (38) 10 (3)
Change in Cash and Temporary Investments 57 309 (491)
Cash and Temporary Investments      
Beginning of the period 1,113 804 1,295
End of the period $ 1,170 $ 1,113 $ 804
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Consolidated Statement Of Changes In Equity - USD ($)
Total
Common Stock Issued
Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Common Stock Held In Treasury, At Cost
Beginning Balance at Dec. 31, 2021 $ 9,082,000,000 $ 449,000,000 $ 4,668,000,000 $ 9,029,000,000 $ (1,666,000,000) $ 3,398,000,000
Issuance of stock for various plans, net 132,000,000   57,000,000     (75,000,000)
Repurchase of stock (1,284,000,000)         1,284,000,000
Dividends (678,000,000)     (678,000,000)    
Comprehensive income (loss) 1,245,000,000 0 0 1,504,000,000 (259,000,000) 0
Ending Balance at Dec. 31, 2022 8,497,000,000 449,000,000 4,725,000,000 9,855,000,000 (1,925,000,000) 4,607,000,000
Issuance of stock for various plans, net 82,000,000   5,000,000     (77,000,000)
Repurchase of stock (220,000,000)         220,000,000
Dividends (652,000,000)     (652,000,000)    
Comprehensive income (loss) 648,000,000 0 0 288,000,000 360,000,000 0
Ending Balance at Dec. 31, 2023 8,355,000,000 449,000,000 4,730,000,000 9,491,000,000 (1,565,000,000) 4,750,000,000
Issuance of stock for various plans, net 96,000,000   2,000,000     (94,000,000)
Repurchase of stock (23,000,000)         23,000,000
Dividends (655,000,000)     (655,000,000)    
Comprehensive income (loss) 400,000,000 0 0 557,000,000 (157,000,000) 0
Ending Balance at Dec. 31, 2024 $ 8,173,000,000 $ 449,000,000 $ 4,732,000,000 $ 9,393,000,000 $ (1,722,000,000) $ 4,679,000,000
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Consolidated Statement Of Changes In Equity (Consolidated Statement of Changes in Equity Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]      
Common Stock, Dividends, Per Share, Cash Paid $ 1.850 $ 1.850 $ 1.850
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Summary Of Business And Significant Accounting Policies (Note)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary Of Business And Significant Accounting Policies

NATURE OF BUSINESS

International Paper (the "Company") is a global producer of renewable fiber-based packaging and pulp products with primary markets and manufacturing operations in North America and Europe and additional markets and manufacturing operations in Latin America, North Africa and Asia. 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 management’s estimates. Actual results could differ from management’s estimates. Certain amounts from prior year have been reclassified to conform with the current year financial statement presentation.

DISCONTINUED OPERATIONS

A discontinued operation may include a component or a group of components of the Company's operations. A disposal of a component or a group of components is reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on the Company's operations and financial results when the following occurs: (1) a component (or group of components) meets the criteria to be classified as held for sale; (2) the component or group of components is disposed of by sale; or (3) the component or group of components is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spin-off). For any component classified as held for sale or disposed of by sale or other than by sale, qualifying for presentation as a discontinued operation, the Company reports the results of operations of the discontinued operations (including any gain or loss recognized on the disposal or loss recognized on classification as held for sale of a discontinued operation), less applicable income taxes (benefit), as a separate component in the consolidated statement of operations for current and all prior periods presented. The Company also reports assets and liabilities associated with discontinued operations as separate line items on the consolidated balance sheet. The Company recorded discontinued
operations for the years ended December 31, 2023 and 2022 in connection with the sale of its equity method investment in Ilim. See Note 10 for further details.

CONSOLIDATION

The consolidated financial statements include the accounts of International Paper and subsidiaries for which we have a controlling financial interest, including variable interest entities for which we are the primary beneficiary. All significant intercompany balances and transactions are eliminated.

EQUITY METHOD INVESTMENTS

The equity method of accounting is applied for investments when the Company has significant influence over the investee’s operations, or when the investee is structured with separate capital accounts. Our material equity method investments are described in Note 10. 

OTHER-THAN-TEMPORARY IMPAIRMENT

The Company evaluates our equity method investments for other-than-temporary impairment ("OTTI") when circumstances indicate the investment may be impaired. When a decline in fair value is deemed to be an OTTI, an impairment is recognized to the extent that the fair value is less than the carrying value of the investment. We consider various factors in determining whether a loss in value of an investment is other than temporary including: the length of time and the extent to which the fair value has been below cost, the financial condition of the investee, and our intent and ability to retain the investment for a period of time sufficient to allow for recovery of value. Management makes certain judgments and estimates in its assessment including but not limited to: identifying if circumstances indicate a decline in value is other than temporary, expectations about operations, as well as industry, financial, regulatory and market factors.

BUSINESS COMBINATIONS

The Company allocates the total consideration of the assets acquired and liabilities assumed based on their estimated fair value as of the business combination date. In developing estimates of fair values for long-lived assets, including identifiable intangible assets, the Company utilizes a variety of inputs including forecasted cash flows, anticipated growth rates, discount rates, estimated replacement costs and depreciation and obsolescence factors. Determining the fair value for specifically identified intangible assets such as customer lists and developed technology involves judgment. We may refine our estimates and make adjustments to the
assets acquired and liabilities assumed over a measurement period, not to exceed one year. Upon the conclusion of the measurement period or the final determination of the values of assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments are charged to the consolidated statement of operations. Subsequent actual results of the underlying business activity supporting the specifically identified intangible assets could change, requiring us to record impairment charges or adjust their economic lives in future periods. See Note 7 for further details.

RESTRUCTURING LIABILITIES AND COSTS

For operations to be closed or restructured, a liability and related expense is recorded in the period when operations cease. For termination costs associated with employees covered by a written or substantive plan, a liability is recorded when it is probable that employees will be entitled to benefits and the amount can be reasonably estimated. For termination costs associated with employees not covered by a written and broadly communicated policy covering involuntary termination benefits (severance plan), a liability is recorded for costs to terminate employees (one-time termination benefits) when the termination plan has been approved and committed to by management, the employees to be terminated have been identified, the termination plan benefit terms are communicated, the employees identified in the plan have been notified and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The timing and amount of an accrual is dependent upon the type of benefits granted, the timing of communication and other provisions that may be provided in the benefit plan. The accounting for each termination is evaluated individually. See Note 6 for further details.

REVENUE RECOGNITION

Generally, the Company recognizes revenue on a point-in-time basis when the Company transfers control of the goods to the customer. For customized goods where the Company has a legally enforceable right to payment for the goods, the Company recognizes revenue over time, which generally is, as the goods are produced.

The Company’s revenue is primarily derived from fixed consideration; however, we do have contract terms that give rise to variable consideration, primarily volume rebates, early payment discounts and other customer refunds. The Company estimates its volume rebates at the individual customer level based on the most likely amount method outlined in ASC 606 "Revenue from Contracts with Customers".
The Company estimates early payment discounts and other customer refunds based on the historical experience across the Company's portfolio of customers to record reductions in revenue that is consistent with the expected value method outlined in ASC 606. Management has concluded that these methods result in the best estimate of the consideration the Company will be entitled to from its customers.

The Company has elected to present all sales taxes on a net basis, account for shipping and handling activities as fulfillment activities, recognize the incremental costs of obtaining a contract as expense when incurred if the amortization period of the asset the Company would recognize is one year or less, and not record interest income or interest expense when the difference in timing of control or transfer and customer payment is one year or less. See Note 3 for further details.

TEMPORARY INVESTMENTS

Temporary investments with an original maturity of three months or less and money market funds with greater than three-month maturities but with the right to redeem without notice are treated as cash equivalents and are stated at cost, which approximates market value. See Note 8 for further details.

INVENTORIES

Inventories 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. These inventories are measured at the lower of cost or market. Other inventories are valued using the first-in, first-out or average cost methods. These inventories are measured at the lower of cost or net realizable value. See Note 8 for further details.

LEASED ASSETS

Operating lease right of use ("ROU") assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. The Company's leases may include options to extend or terminate the lease. These options to extend are included in the lease term when it is reasonably certain that we will exercise that option. Some leases have variable payments, however, because they are not based on an index or rate, they are not included in the ROU assets and liabilities. Variable payments for real estate leases primarily relate to common area maintenance, insurance, taxes and utilities. Variable payments for equipment, vehicles, and leases within
supply agreements primarily relate to usage, repairs and maintenance. As the implicit rate is not readily determinable for most of the Company's leases, the Company applies a portfolio approach using an estimated incremental borrowing rate to determine the initial present value of lease payments over the lease terms on a collateralized basis over a similar term, which is based on market and company specific information. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate, and apply the rate based on the currency of the lease, which is updated on a quarterly basis for measurement of new lease liabilities. Leases having a lease term of twelve months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the term of the lease. In addition, the Company has applied the practical expedient to account for the lease and non-lease components as a single lease component for all of the Company's leases except for certain gas and chemical agreements. See Note 9 for further details.

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 pulp and paper mills, and the straight-line method is used for other plants and equipment. If a decision is made to abandon plants, properties or equipment before the end of its useful life, depreciation expense is revised to reflect the shortened useful life. See Note 8 for further details.

GOODWILL

Annual evaluation for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim evaluation 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.

The Company has the option to evaluate goodwill for impairment by first performing a qualitative assessment of events and circumstances to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amounts, then the quantitative goodwill impairment test is not required to be performed. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, or if the
Company does not elect the option to perform an initial qualitative assessment, the Company is required to perform the quantitative goodwill impairment test. In performing this evaluation, the Company estimates the fair value of its reporting unit using a weighted approach based on discounted future cash flows, market multiples and transaction multiples. The determination of fair value using the discounted cash flow approach requires management to make significant estimates and assumptions related to forecasts of future revenues, operating profit margins, and discount rates. The determination of fair value using market multiples and transaction multiples requires management to make significant assumptions related to revenue multiples and adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA") multiples. For reporting units whose carrying amount is in excess of their estimated fair value, the reporting unit will record an impairment charge by the amount that the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit.

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. A recoverability test is performed by comparing the undiscounted cash flows to carrying value of the assets. The inputs related to the undiscounted cash flows requires judgments as to whether assets are held and used or held for sale, the weighting of operational alternatives being considered by management and estimates of the amount and timing of expected future cash flows from the use of the long-lived assets generated by their use. If the carrying amount is less than the undiscounted cash flows, the fair value of the assets is compared to the carrying value to determine if they are impaired. We estimate fair value using discounted cash flows and other valuation techniques as needed. Impaired assets are recorded at their estimated fair value.

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 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 Company’s 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 recent court cases that are relevant to the matter. Accrued interest related to these uncertain tax positions is recorded in our consolidated statement of operations in Interest expense, net.

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 adjustments that could materially affect future financial statements. See Note 12 for further details.

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 assessing the need for and magnitude of appropriate valuation allowances against deferred tax assets. This assessment is completed by tax jurisdiction and relies on both positive and negative evidence available, with significant weight placed on recent financial results. Cumulative reported pre-tax income is considered objectively verifiable positive evidence of our ability to generate positive pre-tax income in the future. In accordance with GAAP, when there is a recent history of pre-tax losses, there is little or no weight placed on forecasts for purposes of assessing the recoverability of our deferred tax assets. When necessary, we use systematic and logical methods to estimate when deferred tax liabilities will reverse and generate taxable income and when deferred tax assets will reverse and generate tax deductions. Assumptions, judgment, and the use of estimates are required when scheduling the reversal of deferred tax assets and liabilities, and the exercise is inherently complex and subjective. The realization of these assets is dependent on generating future taxable income, as well as
successful implementation of various tax planning strategies.

International Paper uses the flow-through method to account for investment tax credits earned on eligible open-loop biomass facilities and combined heat and power system expenditures. Under this method, the investment tax credits are recognized as a reduction to income tax expense in the year they are earned rather than a reduction in the asset basis.

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. See Note 13 for further details.

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 income (loss).

FAIR VALUE MEASUREMENTS

The guidance for fair value measurements and disclosures sets out a fair value hierarchy that groups fair value measurement inputs into the following three classifications:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Unobservable inputs for the asset or liability reflecting the reporting entity’s own assumptions or external inputs from inactive markets.

Transfers between levels are recognized at the end of the reporting period.
v3.25.0.1
Recent Accounting Developments (Note)
 12 Months Ended
Dec. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Recent Accounting Developments

Other than as described below, no new accounting pronouncement issued or effective during the fiscal year has had or is expected to have a material impact on the consolidated financial statements.
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

Reference Rate Reform

In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This guidance provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. This guidance is effective upon issuance and generally can be applied through December 31, 2024. The Company has applied this guidance to account for contract modifications due to changes in reference rates as those modifications occurred. This guidance has not had a material impact on our consolidated financial statements and related disclosures.

Segment Reporting

In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." This guidance requires companies to disclose incremental segment information on an annual and interim basis. This guidance is effective for annual reporting periods beginning after December 15, 2023 and interim periods within those years beginning after December 15, 2024. Amendments are required to be applied retrospectively to all prior periods presented in the financial statements. The Company adopted this guidance as of January 1, 2024 which only impacted the related disclosure - see Note 20 - Financial Information by Business Segment and Geographic Area.


RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED

Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)." This guidance requires companies to provide more detailed information of certain income statement expenses within the footnotes to the financial statements. This guidance is effective for annual reporting periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and should be applied prospectively. The Company is currently evaluating the provisions of this guidance.

Income Taxes

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." This guidance requires companies to enhance income tax disclosures, particularly around rate reconciliations and income taxes paid information. This guidance is effective for annual reporting periods beginning after December 15, 2024. Early adoption of these amendments is permitted and amendments should be applied prospectively. The Company plans to adopt this guidance as of January 1, 2025 and will update disclosures within the Company's 2025 annual filing.
v3.25.0.1
Revenue Recognition (Note)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
DISAGGREGATED REVENUE

2024
Reportable SegmentsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$13,386 $2,623 $291 $16,300 
EMEA1,355 77 — 1,432 
Pacific Rim and Asia63 93 1 157 
Americas, other than U.S.730 — — 730 
Total$15,534 $2,793 $292 $18,619 
Operating Segments
North American Industrial Packaging$14,293 $— $— $14,293 
EMEA Industrial Packaging1,355 — — 1,355 
Global Cellulose Fibers— 2,793 — 2,793 
Intrasegment Eliminations(114)— — (114)
Corporate & Intersegment Sales— — 292 292 
Total$15,534 $2,793 $292 $18,619 
(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.

2023
Reportable SegmentsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$13,340 $2,570 $430 $16,340 
EMEA1,398 96 — 1,494 
Pacific Rim and Asia37 224 — 261 
Americas, other than U.S.821 — — 821 
Total$15,596 $2,890 $430 $18,916 
Operating Segments
North American Industrial Packaging$14,293 $— $— $14,293 
EMEA Industrial Packaging1,398 — — 1,398 
Global Cellulose Fibers— 2,890 — 2,890 
Intrasegment Eliminations(95)— — (95)
Corporate & Intersegment Sales— — 430 430 
Total$15,596 $2,890 $430 $18,916 

(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.
2022
Reportable SegmentsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$14,970 $3,032 $480 $18,482 
EMEA1,572 121 — 1,693 
Pacific Rim and Asia46 74 3 123 
Americas, other than U.S.863 — — 863 
Total$17,451 $3,227 $483 $21,161 
Operating Segments
North American Industrial Packaging$16,011 $— $— $16,011 
EMEA Industrial Packaging1,572 — — 1,572 
Global Cellulose Fibers— 3,227 — 3,227 
Intrasegment Eliminations(132)— — (132)
Corporate & Intersegment Sales— — 483 483 
Total$17,451 $3,227 $483 $21,161 

(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.

REVENUE CONTRACT BALANCES

A contract asset is created when the Company recognizes revenue on its customized products prior to having an unconditional right to payment from the customer, which generally does not occur until title and risk of loss passes to the customer.

A contract liability is created when customers prepay for goods prior to the Company transferring those goods to the customer. The contract liability is reduced once control of the goods is transferred to the customer. The majority of our customer prepayments are received during the fourth quarter each year for goods that will be transferred to customers over the following twelve months. Current liabilities of $30 million and $32 million are included in Other current liabilities in the accompanying consolidated balance sheet as of December 31, 2024 and 2023, respectively. The Company also recorded a contract liability of $115 million related to a previous acquisition. The balance of this contract liability was $84 million and $92 million at December 31, 2024 and 2023, respectively, and is recorded in Other current liabilities and Other Liabilities in the accompanying consolidated balance sheet.

The difference between the opening and closing balances of the Company's contract assets and contract liabilities primarily results from the difference between the price and quantity at comparable points in time for goods which we have an unconditional right to payment or receive prepayment from the customer, respectively.

PERFORMANCE OBLIGATIONS AND SIGNIFICANT JUDGMENTS

International Paper's principal business is to manufacture and sell fiber-based packaging and pulp goods. As a general rule, none of our businesses provide equipment installation or other ancillary services outside of producing and shipping packaging and pulp products to customers.

The nature of the Company's contracts can vary based on the business, customer type and region; however, in all instances it is International Paper's customary business practice to receive a valid order from the customer, in which each parties' rights and related payment terms are clearly identifiable.

Contracts or purchase orders with customers could include a single type of product or it could include multiple types/grades of products. Regardless, the contracted price with the customer is agreed to at the individual product level outlined in the customer contracts or purchase orders. The Company does not
bundle prices; however, we do negotiate with customers on pricing and rebates for the same products based on a variety of factors (e.g. level of contractual volume, geographical location, etc.).

Management has concluded that the prices negotiated with each individual customer are representative of the stand-alone selling price of the product.
v3.25.0.1
Earnings Per Share Attributable To International Paper Company Common Shareholders (Note)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Attributable To International Paper Company Common Shareholders

Basic earnings per share is computed by dividing earnings by the weighted average number of common shares outstanding. Diluted earnings per share is computed assuming that all potentially dilutive securities were converted into common shares.

There are no adjustments required to be made to net income for purposes of computing basic and diluted earnings per share.


A reconciliation of the amounts included in the computation of basic earnings (loss) per share from continuing operations, and diluted earnings (loss) per share from continuing operations is as follows: 

In millions, except per share amounts202420232022
Earnings (loss) from continuing operations attributable to International Paper common shareholders$557 $302 $1,741 
Weighted average common shares outstanding347.2 346.9 363.5 
Effect of dilutive securities:
Restricted performance share plan7.0 2.2 3.5 
Weighted average common shares outstanding  – assuming dilution354.2 349.1 367.0 
Basic earnings (loss) per share from continuing operations$1.60 $0.87 $4.79 
Diluted earnings (loss) per share from continuing operations$1.57 $0.86 $4.74 
v3.25.0.1
Other Comprehensive Income (Note)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Other Comprehensive Income [Note Text Block]

The following table presents changes in Accumulated Other Comprehensive Loss ("AOCI"), net of tax, reported in the consolidated financial statements for the years ended December 31:

In millions202420232022
Defined Benefit Pension and Postretirement Adjustments
Balance at beginning of period$(1,276)$(1,195)$(962)
Other comprehensive income (loss) before reclassifications(105)(167)(319)
Amounts reclassified from accumulated other comprehensive loss69 86 86 
Balance at end of period(1,312)(1,276)(1,195)
Change in Cumulative Foreign Currency Translation Adjustments
Balance at beginning of period(281)(722)(694)
Other comprehensive income (loss) before reclassifications(121)(76)(38)
Amounts reclassified from accumulated other comprehensive loss— 517 10 
Balance at end of period(402)(281)(722)
Net Gains and Losses on Cash Flow Hedging Derivatives
Balance at beginning of period(8)(8)(10)
Amounts reclassified from accumulated other comprehensive loss— — 2 
Balance at end of period(8)(8)(8)
Total Accumulated Other Comprehensive Income (Loss) at End of Period$(1,722)$(1,565)$(1,925)
Reclassifications out of AOCI for the three years ended December 31 were as follows:

Amount Reclassified from Accumulated Other Comprehensive LossLocation of Amount Reclassified from AOCI
202420232022
In millions
Defined benefit pension and postretirement items:
Prior-service costs$(13)$(23)$(23)(a)Non-operating pension expense
Actuarial gains/(losses)(78)(92)(91)(a)Non-operating pension expense
Total pre-tax amount(91)(115)(114)
Tax (expense)/benefit22 29 28 
Net of tax(69)(86)(86)
Change in cumulative foreign currency translation adjustments:
Business divestiture— (517)(10)(b)Net (gains) losses on sales of equity method investments and Discontinued Operations, net of taxes
Tax (expense)/benefit— — — 
Net of tax— (517)(10)
Net gains and losses on cash flow hedging derivatives:
Cash flow hedges— — (3) Interest expense, net
Total pre-tax amount— — (3)
Tax (expense)/benefit— — 1 
Total, net of tax— — (2)
Total reclassifications for the period, net of tax$(69)$(603)$(98)
(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note 17 - Retirement Plans for additional details).
(b) See Note 10 - Equity Method Investments for additional details for 2023 amounts.
v3.25.0.1
Restructuring Charges and Other Items (Note)
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities
2024: During 2024, restructuring and other charges, net, totaling $221 million before taxes were recorded. The charges included:

In millions2024
80/20 strategic approach (a)$105 
Georgetown mill closure costs (b)119 
Other restructuring items(3)
Total$221 

(a) Severance and other costs related to the resource alignment component of our 80/20 strategic approach. These severance and other costs include $61 million, $42 million and $2 million in the Corporate, Industrial Packaging and Global Cellulose Fibers segments, respectively. The severance charges are recorded in Accrued payroll and benefits and Other Liabilities in the accompanying consolidated balance sheet. The majority of these charges will be paid in 2025.
(b) Includes $39 million of severance charges recorded in Accrued payroll and benefits in the accompanying consolidated balance sheet, $34 million of inventory charges recorded in Inventories in the accompanying consolidated balance sheet and $46 million of other costs recorded in Other current liabilities and Other Liabilities in the accompanying consolidated balance sheet, associated with the permanent closure of our Georgetown, South Carolina mill. The majority of the severance charges will be paid in 2025.

2023: During 2023, restructuring and other charges, net, totaling $99 million before taxes were recorded. The charges included:

In millions2023
Orange, Texas mill closure costs (a)$81 
Pensacola mill and Riegelwood mill pulp machine shutdowns (b)37 
Building a Better IP (c)(19)
Total$99 

(a) Includes $25 million of severance charges, $30 million of inventory charges and $26 million of other costs associated with the closure of our containerboard mill in Orange, Texas. The majority of the severance charges were paid in 2024.
(b) Includes $21 million of severance charges, $12 million of inventory charges and $4 million of other costs associated with the permanent shutdown of pulp machines at our Riegelwood, North Carolina and Pensacola, Florida mills. The majority of the severance charges were paid in 2024.
(c) Revision of severance estimates related to our Building a Better IP initiative.
2022: During 2022, restructuring and other charges, net, totaling $89 million before taxes were recorded. These charges included:

In millions2022
Early debt extinguishment costs (see Note 16)$93 
Other restructuring items(4)
Total$89 
v3.25.0.1
Acquisitions (Note)
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Acquisitions And Joint Ventures

COMPLETED BUSINESS COMBINATION OF DS SMITH

2024: On April 16, 2024, the Company issued an announcement, pursuant to Rule 2.7 of the United Kingdom City Code on Takeovers and Mergers, disclosing the terms of a recommended offer by the Company to acquire the entire issued and to be issued share capital of DS Smith Plc, a public limited company incorporated in England and Wales (“DS Smith”), in an all-stock transaction (the “Business Combination”). Costs related to the transaction were $86 million for the year ended December 31, 2024 and were recorded in selling and administrative expenses in the accompanying consolidated statement of operations.

On January 24, 2025, the European Commission issued its Phase I clearance of the business combination, conditional on International Paper entering into commitments to divest its plants in Mortagne, Saint-Amand, and Cabourg (France), Over (Portugal) and Bilbao (Spain). As such, the Company has agreed to divest these locations.
On January 31, 2025, the Company closed on the acquisition of the entire issued and to be issued share capital of DS Smith. Upon closing of the acquisition, IP issued 0.1285 shares for each DS Smith share, resulting in the issuance of 178,126,631 new shares of IP common stock ("New Company Common Stock"). As a result of the share issuance, the holders of the New Company Common Stock own approximately 34.1% of the Company's outstanding share capital. Based on the issuance of 178,126,631 new shares and the closing price of $55.63 on the close of January 31, 2025, the total purchase consideration for the completed acquisition was approximately $9.9 billion. On February 4, 2025, the Company began trading the New Company Common Stock and continues to be listed on the New York Stock Exchange under the symbol "IP" and via a secondary listing on the London Stock Exchange under the symbol "IPC". The headquarters of the combined company is based in Memphis, Tennessee, and the EMEA headquarters has been established at DS Smith's existing main office in London.
v3.25.0.1
Supplementary Financial Statement Information (Note)
 12 Months Ended
Dec. 31, 2024
Disclosure Text Block Supplement [Abstract]  
Supplementary Financial Statement Information
TEMPORARY INVESTMENTS 

Temporary investments totaled $990 million and $950 million at December 31, 2024 and 2023, respectively.

ACCOUNTS AND NOTES RECEIVABLE

Accounts and notes receivable, net, by classification were: 
In millions at December 3120242023
Accounts and notes receivable:
Trade (less allowances of $30 in 2024 and $34 in 2023)
$2,703 $2,841 
Other263 218 
Total$2,966 $3,059 

INVENTORIES 

In millions at December 3120242023
Raw materials$188 $229 
Finished pulp and packaging products934 975 
Operating supplies623 622 
Other39 63 
Inventories$1,784 $1,889 

The last-in, first-out inventory method is used to value most of International Paper’s U.S. inventories. Approximately 81% of total raw materials and finished products inventories were valued using this method. The last-in, first-out inventory reserve was $336 million and $343 million at December 31, 2024 and 2023, respectively.

PLANTS, PROPERTIES AND EQUIPMENT 
In millions at December 3120242023
Pulp and packaging facilities$28,249 $28,661 
Other properties and equipment1,031 1,050 
Gross cost29,280 29,711 
Less: Accumulated depreciation19,622 19,561 
Plants, properties and equipment, net$9,658 $10,150 
 
Non-cash additions to plants, properties and equipment included within accounts payable were $110 million, $141 million and $185 million at December 31, 2024, 2023 and 2022, respectively.  

Annual straight-line depreciable lives generally are, for buildings - 20 to 40 years, and for machinery and equipment - 3 to 20 years. Depreciation expense was $1.3 billion, $1.4 billion and $996 million for the years ended December 31, 2024, 2023 and 2022. Depreciation expense for the years ended December 31, 2024 and December 31, 2023, includes $233 million and $422 million, respectively,
of accelerated depreciation related to mill strategic actions and other 80/20 strategic actions. Cost of products sold excludes depreciation and amortization expense.

ACCOUNTS PAYABLE 

Under a supplier finance program, International Paper agrees to pay a bank the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices. International Paper or the bank may terminate the agreement upon at least 90 days’ notice. The supplier invoices that have been confirmed as valid under the program require payment in full on the due date with no terms exceeding 180 days. The accounts payable balance included $115 million and $122 million of supplier finance program liabilities as of December 31, 2024 and 2023, respectively.

The following table presents supplier finance program obligations confirmed and paid for the years ended December 31, 2024 and 2023:

In millions
Confirmed obligations outstanding at December 31, 2022$122 
Invoiced confirmed during the year594
Confirmed invoices paid during the year (594)
Confirmed obligations outstanding at December 31, 2023122
Invoiced confirmed during the year516
Confirmed invoices paid during the year(523)
Confirmed obligations outstanding at December 31, 2024$115 

INTEREST

Interest payments of $437 million, $463 million and $380 million were made during the years ended December 31, 2024, 2023 and 2022, respectively.

Amounts related to interest were as follows: 
In millions202420232022
Interest expense$430 $421 $403 
Interest income 222 190 78 
Capitalized interest costs21 22 18 
ASSET RETIREMENT OBLIGATIONS

At December 31, 2024 and 2023, we had recorded liabilities of $128 million and $103 million, respectively, related to asset retirement obligations.

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.
Supplier Finance Program
ACCOUNTS PAYABLE 

Under a supplier finance program, International Paper agrees to pay a bank the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices. International Paper or the bank may terminate the agreement upon at least 90 days’ notice. The supplier invoices that have been confirmed as valid under the program require payment in full on the due date with no terms exceeding 180 days. The accounts payable balance included $115 million and $122 million of supplier finance program liabilities as of December 31, 2024 and 2023, respectively.

The following table presents supplier finance program obligations confirmed and paid for the years ended December 31, 2024 and 2023:

In millions
Confirmed obligations outstanding at December 31, 2022$122 
Invoiced confirmed during the year594
Confirmed invoices paid during the year (594)
Confirmed obligations outstanding at December 31, 2023122
Invoiced confirmed during the year516
Confirmed invoices paid during the year(523)
Confirmed obligations outstanding at December 31, 2024$115 
v3.25.0.1
Leases (Note)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Operating and Capital Leases
International Paper leases various real estate, including certain operating facilities, warehouses, office space and land. The Company also leases material handling equipment, vehicles, and certain other equipment. The Company's leases have remaining lease terms of up to 29 years.

COMPONENTS OF LEASE EXPENSE

In millions202420232022
Operating lease costs, net$188 $177 $153 
Variable lease costs 52 39 39 
Short-term lease costs, net74 71 57 
Finance lease cost
Amortization of lease assets11 12 11 
Interest on lease liabilities3 3 3 
Total lease cost, net$328 $302 $263 
SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

In millionsClassification20242023
Assets
Operating lease assetsRight of use assets$433 $448 
Finance lease assetsPlants, properties and equipment, net (a)39 47 
Total leased assets$472 $495 
Liabilities
Current
OperatingOther current liabilities$156 $153 
FinanceNotes payable and current maturities of long-term debt11 11 
Noncurrent
OperatingLong-term lease obligations292 312 
FinanceLong-term debt38 44 
Total lease liabilities$497 $520 
(a) Finance leases are recorded net of accumulated amortization of $70 million and $67 million at December 31, 2024 and 2023, respectively.
LEASE TERM AND DISCOUNT RATE

In millions20242023
Weighted average remaining lease term (years)
Operating leases 3.6 years4.0 years
Finance leases7.2 years7.7 years
Weighted average discount rate
Operating leases4.34 %3.99 %
Finance leases4.93 %4.78 %

SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES
In millions202420232022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows related to operating leases$202 $180 $160 
Operating cash flows related to financing leases3 3 3 
Financing cash flows related to finance leases9 13 10 
Right of use assets obtained in exchange for lease liabilities
Operating leases185 216 221 
Finance leases6 12 6 

MATURITY OF LEASE LIABILITIES

In millionsOperating Leases Financing LeasesTotal
2025$175 $13 $188 
2026133 12 145 
202794 10 104 
202849 8 57 
202921 7 28 
Thereafter21 13 34 
Total lease payments493 63 556 
Less imputed interest45 14 59 
Present value of lease liabilities $448 $49 $497 
v3.25.0.1
Equity Method Investments (Note)
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments and Joint Ventures Disclosure [Text Block]
The Company accounts for the following investments under the equity method of accounting.

ILIM S.A. ("Ilim")

On September 18, 2023, pursuant to a previously announced agreement, the Company completed the
sale of its 50% equity interest in Ilim S.A. ("Ilim"), which was a joint venture that operated a pulp and paper business in Russia and its subsidiaries including Ilim Group, to its joint venture partners for $484 million in cash. The Company also completed the sale of all of its Ilim Group shares (constituting a
2.39% stake) for $24 million, and divested other non-material residual interests associated with Ilim, to its joint venture partners. Following the completed sales, the Company no longer has an interest in Ilim or any of its subsidiaries. Additionally, we incurred transaction fees of $36 million in the third quarter of 2023 in connection with the sale of our investment.
The Company reclassified currency translation adjustments in AOCI of $517 million to the investment at the completion of the transaction.

All historical results of the Ilim investment are presented as Discontinued Operations, net of taxes in the consolidated statement of operations.
The following summarizes the items comprising Equity Earnings, Impairment Charges, Tax Expense (Benefit), Discontinued Operations and Dividends related to the sale of our equity interest in Ilim:

In millionsEquity EarningsImpairment ChargesTax Expense (Benefit)Discontinued Operations, net of tax (a)Dividends
Year Ended December 31, 2022$296 $533 $— $(237)$204 
Year Ended December 31, 2023$112 $135 $(9)$(14)$13 
(a)    Discontinued operations, net of tax is Equity Earnings less Impairment Charges and Tax Expense (Benefit).

The Company's remaining equity method investments are not material.
v3.25.0.1
Goodwill And Other Intangibles (Note)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Other Intangibles
GOODWILL

The following table presents changes in the goodwill balances as allocated to each reportable business segment for the years ended December 31, 2024 and 2023: 
In millionsIndustrial
Packaging		Global Cellulose FibersTotal
Balance as of December 31, 2022
Goodwill$3,413 $52   $3,465 
Accumulated impairment losses (372)(52)  (424)
3,041 — 3,041 
Balance as of December 31, 2023
Goodwill3,413   52 3,465 
Accumulated impairment losses (372)  (52)(424)
3,041   — 3,041 
Currency translation and other (a)(3)— (3)
Balance as of December 31, 2024
Goodwill3,410 52   3,462 
Accumulated impairment losses (372)(52)  (424)
Total$3,038 $—   $3,038 
    (a) Represents the effects of foreign currency translations and reclassifications.
The Company performed its annual goodwill impairment testing by applying the quantitative goodwill impairment test to its North America Industrial Packaging reporting unit as of October 1, 2024. This was performed by comparing the carrying amount of the North America Industrial Packaging reporting unit to its estimated fair value. The estimated fair value of the reporting unit was calculated using a weighted approach based on discounted future cash flows, market multiples and transaction multiples which are classified as Level 2 and Level 3 within the fair value hierarchy. The determination of fair value using the discounted cash flow approach requires management to make significant estimates and assumptions related to forecasts of future revenues, operating profit margins, and discount rates. The determination of fair value using market multiples and transaction multiples requires management to make significant assumptions related to revenue multiples and adjusted earnings before interest, taxes, depreciation,
and amortization ("EBITDA") multiples. The results of our quantitative goodwill impairment test indicated that the carrying amount did not exceed the estimated fair value of the North America Industrial Packaging reporting unit.
In the fourth quarter of 2022, the Company performed the quantitative goodwill impairment test related to its EMEA Industrial Packaging reporting unit and estimated fair value in the same manner noted above. The results of our quantitative goodwill impairment test indicated that the carrying amount exceeded the estimated fair value of the EMEA Industrial Packaging reporting unit and it was determined that all of the goodwill in the reporting unit, totaling $76 million, was impaired. The decline in the fair value of EMEA Industrial Packaging and resulting impairment charge was due to the impacts of certain negative macroeconomic conditions, including the impacts from inflation and the geopolitical environment to the reporting unit.


OTHER INTANGIBLES

Identifiable intangible assets are recorded in Deferred Charges and Other Assets in the accompanying consolidated balance sheet and comprised the following:

  20242023
In millions at December 31Gross
Carrying
Amount		Accumulated
Amortization		Net Intangible AssetsGross
Carrying
Amount		Accumulated
Amortization		Net Intangible Assets
Customer relationships and lists$489 $360 $129 $494 $335 $159 
Tradenames, patents and trademarks, and developed technology170 162 8 170 154 16 
Land and water rights8 2 6 8 2 6 
Other19 17 2 21 19 2 
Total $686 $541 $145 $693 $510 $183 
The Company recognized the following amounts as amortization expense related to intangible assets: 

In millions202420232022
Amortization expense related to intangible assets$37 $37 $44 

Based on current intangibles subject to amortization, estimated amortization expense for each of the succeeding years is as follows: 2025 – $38 million, 2026 – $29 million, 2027 – $10 million, 2028 – $8 million, 2029 – $7 million, and cumulatively thereafter – $47 million.
v3.25.0.1
Income Taxes (Note)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
The components of International Paper’s earnings from continuing operations before income taxes and equity earnings by taxing jurisdiction were as follows:
 
In millions202420232022
Earnings (loss)
U.S.$(140)$129 $1,469 
Non-U.S.287 253 42 
Earnings (loss) from continuing operations before income taxes and equity earnings (losses)$147 $382 $1,511 
The provision (benefit) for income taxes from continuing operations (excluding noncontrolling interests) by taxing jurisdiction was as follows:
In millions202420232022
Current tax provision (benefit)
U.S. federal$(4)$157 $454 
U.S. state and local20 16 56 
Non-U.S.42 42 27 
 $58 $215 $537 
Deferred tax provision (benefit)
U.S. federal$(367)$(164)$(775)
U.S. state and local(98)3 (39)
Non-U.S.(8)5 41 
 $(473)$(156)$(773)
Income tax provision (benefit)$(415)$59 $(236)

The Company’s deferred income tax provision (benefit) includes a $1 million expense, a $6 million benefit and an $3 million benefit for 2024, 2023 and 2022, respectively, for the effect of various changes in non-U.S. and U.S. federal and state tax rates.

International Paper made income tax payments, net of refunds, of $394 million, $340 million and $345 million in 2024, 2023 and 2022, respectively.
A reconciliation of income tax expense using the statutory U.S. income tax rate compared with the actual income tax provision follows: 

In millions202420232022
Earnings (loss) from continuing
operations before income taxes
and equity earnings		$147 $382 $1,511 
Statutory U.S. income tax rate21 %21 %21 %
Tax expense (benefit) using statutory U.S. income tax rate31 80 317 
State and local income taxes(62)2 44 
Impact of rate differential on non-U.S. permanent differences and earnings(26)(10)1 
Foreign valuation allowance— — 45 
Tax expense (benefit) on exchange of Sylvamo shares— — (56)
Non-taxable income(4)(2)(2)
Non-deductible business expenses21 7 2 
Non-deductible impairments— — 16 
Non-deductible compensation8 7 13 
Tax audits— (4)6 
Timber Monetization Audit Settlement— — (604)
Foreign derived intangible income deduction— 2 (8)
US tax on non-U.S. earnings (GILTI and Subpart F)32 — 27 
Foreign tax credits7 8 8 
General business and other tax credits(31)(38)(43)
Tax expense (benefit) on equity earnings(1)(4)(1)
Legal entity restructuring expense (benefit)(391)4 — 
Other, net1 7 (1)
Income tax provision (benefit)$(415)$59 $(236)
Effective income tax rate(282)%15 %(16)%

The tax effects of significant temporary differences, representing deferred income tax assets and liabilities at December 31, 2024 and 2023, were as follows: 

In millions20242023
Deferred income tax assets:
Postretirement benefit accruals$72 $67 
Pension obligations63 61 
Tax credits183 182 
Net operating and capital loss carryforwards1,181 699 
Compensation reserves224 146 
Lease obligations112 116 
Environmental reserves131 114 
Investments4 — 
Research and development expenditures240 162 
Other203 157 
Gross deferred income tax assets$2,413 $1,704 
Less: valuation allowance (a)(1,201)(848)
Net deferred income tax asset$1,212 $856 
Deferred income tax liabilities:
Intangibles$(133)$(141)
Investments— 3 
Right of use assets(112)(116)
Plants, properties and equipment(1,528)(1,650)
Forestlands, related installment sales, and investment in subsidiary(486)(485)
Gross deferred income tax liabilities$(2,259)$(2,389)
Net deferred income tax liability$(1,047)$(1,533)
(a) The net change in the total valuation allowance for the years ended December 31, 2024 and 2023 was an increase of $353 million and a increase of $171 million, respectively.

Deferred income tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions Deferred charges and other assets and Deferred income taxes, respectively. The $486 million of deferred tax liabilities for forestlands, related installment sales, and investment in subsidiary is attributable to a 2007 Temple-Inland installment sale of forestlands (see Note 14 - Variable Interest Entities).

During 2024, the Company completed an internal legal entity restructuring for which a capital loss was recognized for U.S. federal and state income tax purposes resulting in a tax benefit of $416 million. The Company intends to carry back a portion of the loss to prior years and has set up a non-current receivable in the amount of $279 million. The remaining capital loss will be carried forward to offset future capital gains, and, as such, the Company recorded a deferred tax asset in the amount of $137 million for the year ended December 31, 2024.

A reconciliation of the beginning and ending amount of unrecognized tax benefits recorded in Other Liabilities in the accompanying consolidated balance
sheet for the years ended December 31, 2024, 2023 and 2022 is as follows: 

In millions202420232022
Balance at January 1$(173)$(177)$(166)
(Additions) reductions for tax positions related to current year(10)(13)(7)
(Additions) for tax positions related to prior years(40)(11)(10)
Reductions for tax positions related to prior years7 1 3 
Settlements4 17 1 
Expiration of statutes of
limitations		6 11 1 
Currency translation adjustment2 (1)1 
Balance at December 31$(204)$(173)$(177)

If the Company were to prevail on the unrecognized tax benefits recorded, substantially all of the balances at December 31, 2024, 2023 and 2022 would benefit the effective tax rate. Pending audit settlements and the expiration of statutes of limitation are not expected to reduce uncertain tax positions during the next twelve months.

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 $50 million and $34 million accrued for the payment of estimated interest and penalties associated with unrecognized tax benefits at December 31, 2024 and 2023, respectively.

The Company is currently subject to audits in the United States and other taxing jurisdictions around the world. Generally, tax years 2012 through 2023 remain open and subject to examination by the relevant tax authorities. The Company frequently faces challenges regarding the amount of taxes due. These challenges include positions taken by the Company related to the timing, nature, and amount of deductions and the allocation of income among various tax jurisdictions.

On September 3, 2024, the Company received the Unagreed Revenue Agent Report from the Internal Revenue Service relating to investment tax credits for the 2017-2019 years that currently are under examination. The estimated net incremental tax liability associated with the proposed adjustments would be approximately $50 million. The Company disagrees with the proposed adjustments and initiated the administrative appeals process on October 30, 2024 with the filing of our Protest of the proposed adjustments. An unfavorable resolution in the administrative appeals process or future tax litigation could result in cash tax payments and could adversely impact the effective tax rate.
The Organization for Economic Cooperation and Development has proposed a 15% global minimum tax applied on a country-by-country basis (the "Pillar Two rule"), and many countries, including countries in which we operate, have enacted or begun the process of enacting laws adopting the Pillar Two rule. The first component of the Pillar Two rule became effective as of January 1, 2024 and did not have a material impact on the Company’s effective tax rate. The second component is expected to go into effect in 2025.

The Company provides for foreign withholding taxes and any applicable U.S. state income taxes on earnings intended to be repatriated from non-U.S. subsidiaries, which we believe will be limited in the future to each year's current earnings. No provision for these taxes on approximately $1.1 billion of undistributed earnings of non-U.S. subsidiaries as of December 31, 2024 has been made, as these earnings are considered indefinitely invested. Determination of the amount of taxes that might be paid on these undistributed earnings if eventually remitted in a taxable manner is not practicable.

If management decided to monetize the Company’s foreign investments, we would recognize the tax cost related to the excess of the book value over the tax basis of those investments. This would include foreign withholding taxes and any applicable U.S. Federal and state income taxes. Determination of the
tax cost that would be incurred upon monetization of the Company’s foreign investments is not practicable; however, we do not believe it would be material.

The following details the scheduled expiration dates of the Company’s net operating loss and income tax credit and capital loss carryforwards:
 
In millions2025
Through
2034		2035
Through
2044		IndefiniteTotal
U.S. federal and non-U.S. NOLs$3 $603 $397 $1,003 
State taxing jurisdiction NOLs (a)28 9 — 37 
U.S. federal, non-
U.S. and state tax credit carryforwards (a)		73 14 96 183 
U.S. federal and state capital loss carryforwards (a)141 — — 141 
Total$245 $626 $493 $1,364 
Less: valuation allowance (a)(58)(612)(449)(1,119)
Total, net$187 $14 $44 $245 
(a) State amounts are presented net of federal benefit.
v3.25.0.1
Commitments And Contingent Liabilities (Note)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments And Contingent Liabilities
GENERAL

The Company is involved in various inquiries, administrative proceedings and litigation relating to environmental and safety matters, personal injury, product liability, labor and employment, contracts, sales of property, intellectual property, tax, and other matters, that arise in the normal course of business. These matters may raise difficult and complicated legal issues and may be subject to many uncertainties and complexities. Moreover, some of these matters allege substantial or indeterminate monetary damages.

International Paper reviews inquiries, administrative proceedings and litigation, including with respect to environmental matters, on an ongoing basis and establishes an estimated liability for specific legal proceedings and other loss contingencies when it determines that the likelihood of an unfavorable outcome is probable, and the amount of the loss can be reasonably estimated. In addition, if the likelihood of an unfavorable outcome with respect to material loss contingencies is reasonably possible and International Paper is able to determine an estimate of the possible loss or range of loss, whether in excess of a related accrued liability of where there is no accrued liability, International Paper will disclose the estimate of the possible loss or range of loss. When no amount in a range of loss is more likely than any other amount in the range, the low end of the range is used as the estimate of the possible loss. International Paper’s assessment of whether a loss is probable is based on management’s assessment of the ultimate outcome of the matter.

Assessments of lawsuits and claims and the estimates reflected herein, are subject to significant judgments about future events, rely heavily on estimates and assumptions, and are otherwise subject to significant known and unknown uncertainties. The matters underlying such estimates may change from time to time and actual losses may vary significantly from current estimates. Additionally, the estimated liability for loss contingencies does not include matters or losses that are not reasonably estimable and probable.

Based on information currently known to International Paper, management believes that loss contingencies arising from pending matters, including the matters described herein, will not have a material adverse effect on the consolidated financial position or liquidity of the Company. However, in light of the inherent uncertainties involved in such matters, some of which are beyond the Company's control, and the large or
indeterminate damages sought in some of these matters, a future adverse ruling, settlement, unfavorable development, or increase in accruals with respect to these matters could result in future charges that could be materially adverse to the Company's results of operations or cash flows in any particular reporting period.

ENVIRONMENTAL AND LEGAL PROCEEDINGS

Environmental

The Company has been named as a potentially responsible party ("PRP") in environmental remediation actions under various federal and state laws, including the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended ("CERCLA"). Many 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 PRPs. There are other remediation costs typically associated with the cleanup of hazardous substances at the Company’s current, closed and formerly-owned facilities, and recorded as liabilities in the balance sheet.

Remediation costs are recorded in the consolidated financial statements when they become probable and reasonably estimable. International Paper has estimated the probable liability associated with these environmental remediation matters, including those described herein, to be approximately $279 million and $251 million in the aggregate as of December 31, 2024 and December 31, 2023, respectively. Other than as described below, completion of required environmental remedial actions ("RAs") is not expected to have a material effect on our consolidated financial statements.

Cass Lake: One of the matters included above arises out of a closed wood-treatment facility located in Cass Lake, Minnesota. In June 2011, the U.S. Environmental Protection Agency ("EPA") selected and published a proposed soil remedy at the site. In April 2020, the EPA issued a final plan concerning clean-up standards at a portion of the site. The Company is performing RA and continues to cooperate with the EPA on the remaining remediation goals at the site. The estimated liability for the Cass Lake superfund site was $48 million and $46 million as of December 31, 2024 and December 31, 2023, respectively.

Kalamazoo River: The Company is a PRP with respect to the Allied Paper, Inc./Portage Creek/Kalamazoo River Superfund Site in Michigan. The
EPA asserts that the site is contaminated by polychlorinated biphenyls primarily as a result of discharges from various paper mills located along the Kalamazoo River, including a paper mill formerly owned by St. Regis Paper Company ("St. Regis"). The Company is a successor in interest to St. Regis.

•Operable Unit 5, Area 1: In March 2016, the Company received a special notice letter from the EPA (i) inviting participation in implementing a remedy for a portion of the site known as Operable Unit 5 ("OU5"), Area 1, and (ii) demanding reimbursement of EPA past costs totaling $37 million. In December 2016, the EPA issued a unilateral administrative order ("UAO") to the Company and other PRPs to perform the remedy. The Company responded to the UAO, agreeing to comply with the order subject to its sufficient cause defenses. The Company continues to comply with the UAO in performing remediation activities at OU5, Area 1.

•Operable Unit 1 ("OU1"): In October 2016, the Company and another PRP received a special notice letter from the EPA inviting participation in the remedial design ("RD") component of the landfill remedy for the Allied Paper Mill, which is also known as Operable Unit 1. A Record of Decision ("ROD") establishing the final landfill remedy for the Allied Paper Mill was issued by the EPA in September 2016. The Company responded to the Allied Paper Mill special notice letter in December 2016 denying liability for OU1. In 2021, the EPA initiated RA activities. In October 2022, the Company received a unilateral administrative order to perform the RA. The Company began performing the RA in 2023 and established a $27 million reserve to account for this liability in the fourth quarter of 2022. In the fourth quarter of 2024, the Company increased the reserve by $27 million to account for the reasonably estimable costs for the next phases of the RA, following an EPA approved design modification in October to the original remedial design.

The total reserve for the combined liabilities for OU5, Area 1 and OU1 at the Kalamazoo River superfund site was $29 million and $27 million as of December 31, 2024 and 2023, respectively.

The Company was named as a defendant by Georgia-Pacific Consumer Products LP, Fort James Corporation and Georgia Pacific LLC (collectively, "GP") in a contribution and cost recovery action for alleged pollution at the site related to the Company's potential CERCLA liability. NCR Corporation and Weyerhaeuser Company were also named as defendants. The lawsuit seeks contribution under CERCLA for costs purportedly expended by plaintiffs
($79 million as of the filing of the complaint) and for future remediation costs. In June 2018, the District Court issued its Final Judgment and Order, which fixed the past cost amount at approximately $50 million (plus interest to be determined) and allocated to the Company a 15% share of responsibility for those past costs. The District Court did not address responsibility for future costs in its decision. In July 2018, the Company and each of the other parties filed notices appealing the Final Judgment and prior orders incorporated into the Final Judgment. In April 2022, the Sixth Circuit Court of Appeals (the "Sixth Circuit") reversed the Final Judgment of the Court, finding that the lawsuit against the Company was time-barred by the applicable statute of limitations. In May 2022, GP filed a petition for rehearing with the Sixth Circuit, which was denied in July 2022. In November 2022, GP filed a petition for writ of certiorari with the U.S. Supreme Court. In October 2023, the U.S. Supreme Court denied GP's writ petition, thus rendering final the Sixth Circuit's decision that GP's lawsuit against the Company was time-barred. In January 2024 GP requested that the District Court’s final order declare that each party is jointly and severally liable for future costs, arguing that the Sixth Circuit decision only applies to past costs. On April 9, 2024, the District Court entered Final Judgment After Remand, declaring, consistent with the Sixth Circuit's decision, that GP’s past costs are time-barred by the applicable statute of limitations. The District Court also entered Final Judgment on Remand that all three parties, including the Company, are jointly and severally liable for future response costs at the site. The Company believes the District Court’s Final Judgment on Remand regarding liability for future costs is in error and has appealed the Final Judgment on Remand on future costs liability to the Sixth Circuit.

Harris County: International Paper and McGinnis Industrial Maintenance Corporation ("MIMC"), a subsidiary of Waste Management, Inc. ("WMI"), are PRPs at the San Jacinto River Waste Pits Superfund Site in Harris County, Texas. The PRPs have been actively participating in the activities at the site and share the costs of these activities.

In October 2017, the EPA issued a ROD selecting the final remedy for the site: removal and relocation of the waste material from both the northern and southern impoundments.

In April 2018, the PRPs entered into an Administrative Order on Consent ("AOC") with the EPA, agreeing to work together to develop the RD for the northern impoundment. The AOC does not include any agreement to perform waste removal or other construction activity at the site.
In 2020, the Company reserved the following estimated liability amounts in relation to remediation at this site: (a) $10 million for the southern impoundment; and (b) $55 million for the northern impoundment, which represented the Company's 50% share of our estimate of the low end of the range of probable remediation costs.

The Company submitted the Final Design Package for the southern impoundment to the EPA, and the EPA approved the plan in May 2021. The EPA issued a Unilateral Administrative Order for RA of the southern impoundment in August 2021. An addendum to the Final 100% RD (Amended April 2021) was submitted to the EPA for the southern impoundment in June 2022. The Company substantially completed the RA for the southern impoundment in 2024.

With respect to the northern impoundment, the PRPs submitted a Final 100% RD to EPA in July 2024. EPA provided comments at the end of October and a Revised Final 100% RD was submitted at the end of November 2024. The total estimated liability for the southern and northern impoundment was $98 million and $83 million as of December 31, 2024 and 2023, respectively. The current reserve is primarily for the Company’s 50% share of our estimate of the low end of the range of probable costs to implement the RD. Because of ongoing questions regarding cost effectiveness, timing and gathering other technical data, additional losses in excess of our recorded liability are possible.

Versailles Pond: The Company is a responsible party for the investigation and remediation of Versailles Pond, a 57-acre dammed river impoundment that historically received paperboard mill wastewater in Sprague, Connecticut. A comprehensive investigation has determined that Versailles Pond is contaminated with polychlorinated biphenyls, mercury, and metals. A preliminary remediation plan was prepared in the third quarter of 2023. Negotiations with state and federal governmental officials are ongoing regarding the scope and timing of the remediation. The total estimated liability for Versailles Pond was $30 million as of both December 31, 2024 and December 31, 2023.

Asbestos-Related Matters

We have been named as a defendant in various asbestos-related personal injury litigation, in both state and federal court, primarily in relation to the prior operations of certain companies previously acquired by the Company. The Company's total recorded liability with respect to pending and future asbestos-related claims was $100 million and $97 million, both net of insurance recoveries as of
December 31, 2024 and December 31, 2023, respectively. While it is reasonably possible that the Company may incur losses in excess of its recorded liability with respect to asbestos-related matters, we are unable to estimate any loss or range of loss in excess of such liability, and do not believe additional material losses are probable.
Antitrust

In March 2017, the Italian Competition Authority ("ICA") commenced an investigation into the Italian packaging industry to determine whether producers of corrugated sheets and boxes violated the applicable European competition law. In April 2019, the ICA concluded its investigation and issued initial findings alleging that over 30 producers, including our Italian packaging subsidiary ("IP Italy") and, prior to completion of the business combination certain subsidiaries of DS Smith operating in Italy ("DS Smith Italy"), improperly coordinated the production and sale of corrugated sheets and boxes. In August 2019, the ICA issued its decision and assessed IP Italy a fine of €29 million (approximately $31 million at the then-current exchange rates) for participation in the boxes coordination, which was recorded in the third quarter of 2019. We appealed the ICA decision, and our appeal was denied in May 2021. We further appealed the decision to the Italian Council of State ("Council of State"), and in March 2023 the Council of State largely upheld the ICA’s findings, but referred the calculation of IP Italy’s fine back to the ICA, finding that it was disproportionately high based on the conduct found. Given the failure of the Council of State to address certain arguments brought by IP, we further appealed the Council of State decision to uphold the ICA’s findings. In March 2024, the Council of State published its decision holding that its earlier decision should be interpreted as accepting many of IP Italy’s earlier arguments and that the ICA should reduce IP Italy’s fine accordingly. Notwithstanding these decisions by the Council of State, in March 2024 the ICA served IP Italy with its redetermination decision leaving IP Italy’s fine unchanged. IP appealed the ICA's redetermination decision as inconsistent with the Council of State's 2024 and 2023 decision. In July 2024, the Council of State partially annulled the ICA redetermination decision, reducing IP Italy's fine by $6 million (€6 million). As of December 31, 2024, after giving effect to this development, the Company did not have any remaining liability related to IP Italy's fine. IP Italy has further appealed the Council of State's July 2024 decision seeking further reduction. DS Smith Italy was also subject to the ICA decision but not fined, given its position as leniency applicant. IP Italy, DS Smith Italy, and other producers also have been named in lawsuits, and we have received other claims, by a number of customers for damages
associated with the alleged anticompetitive conduct. Given the early stages of these claims and the intention of the Company to defend robustly against such claims, it is too early to predict with any real degree of certainty, the precise overall outcome and ultimate potential liability (if any) that might be incurred in connection therewith, and there can be no guarantee that the aggregate of possible damages against IP Italy and DS Smith Italy could not, together, have a material impact on the Company’s financial condition.
GUARANTEES

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 reasonably estimable, accrued liabilities are recorded at the time of sale as a cost of the transaction.

Brazil Goodwill Tax Matter: The Brazilian Federal Revenue Service has challenged the deductibility of goodwill amortization generated in a 2007 acquisition by Sylvamo do Brasil Ltda. ("Sylvamo Brazil"), which was a wholly owned subsidiary of the Company until the October 1, 2021 spin-off of the Printing Papers business, after which it became a subsidiary of Sylvamo Corporation ("Sylvamo"). Sylvamo Brazil received assessments for the tax years 2007-2015 totaling approximately $95 million (adjusted for variation in currency exchange rates) in tax, plus interest, penalties and fees. The interest, penalties and fees currently total approximately $235 million (adjusted for variation in currency exchange rates). Accordingly, the assessments currently total approximately $330 million (adjusted for variation in currency exchange rates). After an initial favorable ruling challenging the basis for these assessments, Sylvamo Brazil received subsequent unfavorable decisions from the Brazilian Administrative Council of Tax Appeals. Sylvamo Brazil appealed these decisions. On October 11, 2024, the federal regional court issued a ruling favorable to Sylvamo Brazil in the first stage of judicial review on the assessments for tax years 2007 and 2008-2012, comprising approximately $210 million of the total $330 million as of December 31, 2024. On December 18, 2024, the Brazilian Federal Revenue Service appealed this ruling. This tax litigation matter may take many years to resolve. Sylvamo Brazil and International Paper believe the transaction underlying these assessments was appropriately evaluated, and that Sylvamo
Brazil's tax position should be sustained, based on Brazilian tax law.

This matter pertains to a business that was conveyed to Sylvamo on October 1, 2021, as part of our spin-off transaction. Pursuant to the terms of the tax matters agreement entered into between the Company and Sylvamo, the Company will pay 60% and Sylvamo will pay 40%, on up to $300 million of any assessment related to this matter, and the Company will pay all amounts of the assessment over $300 million. Under the terms of the tax matters agreement, decisions concerning the conduct of the litigation related to this matter, including strategy, settlement, pursuit and abandonment, will be made by the Company. Sylvamo thus has no control over any decision related to this ongoing litigation. The Company intends to vigorously defend this historical tax position against the current assessments and any similar assessments that may be issued for tax years subsequent to 2015. The Brazilian government may enact a tax amnesty program that would allow Sylvamo Brazil to resolve this dispute for less than the assessed amount. As of October 1, 2021, in connection with the recording of the distribution of assets and liabilities resulting from the spin-off transaction, the Company established a liability representing the initial fair value of the contingent liability under the tax matters agreement. The contingent liability was determined in accordance with ASC 460 "Guarantees" based on the probability weighting of various possible outcomes. The initial fair value estimate and recorded liability as of December 31, 2021 was $48 million and remains this amount at December 31, 2024. This liability will not be increased in subsequent periods unless facts and circumstances change such that an amount greater than the initial recognized liability becomes probable and estimable.
v3.25.0.1
Variable Interest Entities (Note)
 12 Months Ended
Dec. 31, 2024
Variable Interest Entities [Abstract]  
Variable Interest Entities And Preferred Securities Of Subsidiaries
In connection with the acquisition of Temple-Inland in February 2012, two special purpose entities became wholly-owned subsidiaries of International Paper. The use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 Temple-Inland timberlands sales. As of December 31, 2024, this deferred tax liability was $486 million, which will be settled with the maturity of the notes in 2027.

In October 2007, Temple-Inland sold 1.55 million acres of timberland for $2.4 billion. The total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland, which Temple-Inland contributed to two wholly-owned, bankruptcy-remote special purpose entities. The notes are shown in Long-term financial assets of
variable interest entities in the accompanying consolidated balance sheet and are supported by $2.4 billion of irrevocable letters of credit issued by three banks, which are required to maintain minimum credit ratings on their long-term debt.

In December 2007, Temple-Inland's two wholly-owned special purpose entities borrowed $2.1 billion which is shown in Long-term nonrecourse financial liabilities of variable interest entities. The loans are repayable in 2027 and are secured by the $2.4 billion of notes and the irrevocable letters of credit securing the notes, and are nonrecourse to us. The loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold, the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution.

As of both December 31, 2024 and 2023, the fair value of the notes receivable was $2.3 billion. As of both December 31, 2024 and 2023, the fair value of this debt was $2.1 billion. The notes receivable and debt are classified as Level 2 within the fair value hierarchy.

Activity between the Company and the 2007 financing entities was as follows:

In millions202420232022
Revenue (a)$152 $146 $65 
Expense (b)136 136 58 
Cash receipts (c)135 122 28 
Cash payments (d)130 123 40 

(a)The revenue is included in Interest expense, net, in the accompanying consolidated statement of operations and includes approximately $19 million for the years ended December 31, 2024, 2023 and 2022, respectively, of accretion income for the amortization of the purchase accounting adjustment on the Financial assets of variable interest entities.
(b) The expense is included in Interest expense, net, in the accompanying consolidated statement of operations and includes approximately $7 million for the years ended December 31, 2024, 2023 and 2022 respectively, of accretion expense for the amortization of the purchase accounting adjustment on the Long-term nonrecourse financial liabilities of variable interest entities.
(c) The cash receipts are interest received on the Financial assets of special purpose entities.
(d) The cash payments are interest paid on Nonrecourse financial liabilities of special purpose 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 were used as collateral for borrowings from third party lenders, which effectively monetized the Timber Notes through the creation of newly formed special
purposes entities (the "Entities"). The monetization structure preserved the tax deferral that resulted from the 2006 forestlands sales. During 2015, International Paper initiated a series of actions to extend the 2006 monetization structure and maintain the long-term nature of the deferred tax liability. The Entities, with assets and liabilities primarily consisting of the Timber Notes and third-party bank loans (the "Extension Loans"), were restructured which resulted in the formation of wholly-owned, bankruptcy-remote special purpose entities (the "2015 Financing Entities").

In August 2021, the Timber Notes of $4.8 billion and the Extension Loans of $4.2 billion related to the 2015 Financing Entities both matured. We settled the Extension Loans at their maturity with the proceeds from the Timber Notes. This resulted in cash proceeds of approximately $630 million representing our equity in the variable interest entities. Maturity of the installment notes and termination of the monetization structure also resulted in a $72 million tax liability that was paid in the fourth quarter of 2021.
On September 2, 2022, the Company and the Internal Revenue Service agreed to settle the previously disclosed timber monetization restructuring tax matter involving the 2015 Financing Entities. Under this agreement, the Company was required to fully resolve the matter and pay $252 million in U.S. federal income taxes. As a result, interest was charged upon closing of the audit. The amount of interest expense recognized in 2022 was $58 million. As of December 31, 2023, $252 million in U.S. federal income taxes and $58 million in interest expense have been paid as a result of the settlement agreement. The Company paid $163 million in U.S. federal income taxes and $30 million in interest during the first quarter of 2023 and fully satisfied the payment terms of the settlement agreement regarding the 2015 Financing Entities timber monetization restructuring tax matter during the second quarter of 2023. The reversal of the Company’s remaining deferred tax liability associated with the 2015 Financing Entities of $604 million was recognized as a one-time tax benefit in the third quarter of 2022.
v3.25.0.1
Debt And Lines Of Credit (Note)
 12 Months Ended
Dec. 31, 2024
Debt Instruments [Abstract]  
Debt And Lines Of Credit [Note Text Block]
Amounts related to early debt extinguishment during the years ended December 31, 2024, 2023 and 2022 were as follows: 

In millions202420232022
Early debt reductions (a)$— $— $503 
Pre-tax early debt extinguishment costs (b)— — 93 
(a)Reductions related to notes with interest rates ranging from 4.35% to 8.70% with original maturities from 2023 to 2048 for the year ended December 31, 2022.
(b)Amounts are included in Restructuring and other charges in the accompanying consolidated statements of operations.

The Company had debt reductions of $141 million in 2024, related primarily to $14 million of capital leases and $127 million of environmental development bonds ("EDB"). The Company also had debt issuances of $102 million of EDBs.

The Company had debt issuances in 2023 of $600 million of term loan agreements and $183 million of EDBs.

The Company had debt issuances in 2022 of $354 million of term loan agreements, $410 million of commercial paper and $248 million of EDBs.

The borrowing capacity of the Company's commercial paper program is $1.0 billion supported by its $1.4 billion credit agreement. Under the terms of this program, individual maturities on borrowings may vary, but not exceed one year from the date of issue. Interest bearing notes may be issued either as fixed or floating rate notes. The Company had no borrowings outstanding as of December 31, 2024 and December 31, 2023 under this program.

At December 31, 2024, the Company's credit facilities totaled $1.9 billion. The credit facilities generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon International Paper's credit rating. The credit facilities previously included a $1.5 billion contractually committed bank facility with a maturity date of June 2026. In June 2023, the Company amended and restated its credit agreement to, among other things, (i) reduce the size of the contractually committed bank facility from $1.5 billion to $1.4 billion, (ii) extend the maturity date from June 2026 to June 2028, and (iii) replace the LIBOR-based rate with a SOFR-based rate. The liquidity facilities also include up to $500 million of uncommitted financings based on eligible receivables balances under a receivable securitization program that expires in June 2025. As of December 31, 2024 and December 31, 2023, the Company had no borrowings outstanding under the program.

A summary of long-term debt follows: 
In millions at December 3120242023
7.350% notes – due 2025
$39 $39 
7.750% notes – due 2025
22 22 
7.200% notes – due 2026
58 58 
6.400% notes – due 2026
5 5 
7.150% notes – due 2027
7 7 
6.875% notes – due 2029
10 10 
5.000% notes – due 2035
407 407 
6.650% notes – due 2037
3 3 
8.700% notes – due 2038
86 86 
7.300% notes – due 2039
453 453 
6.000% notes – due 2041
585 585 
4.800% notes – due 2044
686 686 
5.150% notes – due 2046
449 449 
4.400% notes – due 2047
647 647 
4.350% notes – due 2048
740 740 
Floating rate notes – due 2027 – 2030 (a)
308 308 
Environmental and industrial development bonds – due 2025 – 2031 (b)
394 419 
Floating rate term loan - due 2028
600 600 
Total principal5,499 5,524 
Capitalized leases49 55 
Premiums, discounts, and debt issuance costs(39)(41)
Terminated interest rate swaps51 54 
Other 1 1 
Total (c)5,561 5,593 
Less: current maturities193 138 
Long-term debt$5,368 $5,455 
(a)The weighted average interest rate on these notes was 4.6% in 2024 and 5.4% in 2023.
(b)The weighted average interest rate on these bonds was 2.8% in 2024 and 2.4% in 2023.
(c)The fair market value was approximately $5.2 billion at December 31, 2024 and $5.5 billion at December 31, 2023. Debt fair value measurements use Level 2 inputs.

At December 31, 2024, contractual obligations for future payments of debt maturities (including finance lease liabilities disclosed in Note 9 - Leases and excluding the timber monetization structures disclosed in Note 14 - Variable Interest Entities) by calendar year were as follows over the next five years: 2025 – $193 million; 2026 – $142 million; 2027 – $346 million; 2028 – $672 million; and 2029 – $18 million.


The Company’s financial covenants require the maintenance of a minimum net worth, as defined in our debt agreements, 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 income/loss and both the current and long-term Nonrecourse Financial Liabilities of Variable Interest Entities. The total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth. As of December 31, 2024, we were in compliance with our debt covenants.
v3.25.0.1
Capital Stock (Note)
 12 Months Ended
Dec. 31, 2024
Class of Stock Disclosures [Abstract]  
Capital Stock
The authorized capital stock at both December 31, 2024 and 2023, 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.

The following is a roll forward of shares of common stock for the three years ended December 31, 2024, 2023 and 2022: 

  Common Stock
In thousandsIssuedTreasury
Balance at January 1, 2022448,916 70,362 
Issuance of stock for various plans, net— (1,569)
Repurchase of stock— 29,839 
Balance at December 31, 2022448,916 98,632 
Issuance of stock for various plans, net— (1,647)
Repurchase of stock— 5,894 
Balance at December 31, 2023448,916 102,879 
Issuance of stock for various plans, net— (2,028)
Repurchase of stock— 648 
Balance at December 31, 2024448,916 101,499 
v3.25.0.1
Retirement Plans (Note)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Retirement 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 certain employees.

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).

The Company also has two unfunded nonqualified defined benefit pension plans: the Pension Restoration Plan that provides retirement benefits based on eligible compensation in excess of limits set by the Internal Revenue Service, and the Unfunded 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 $23 million, $22 million and $29 million in 2024, 2023 and 2022, respectively, and which are expected to be $49 million in 2025.

Effective January 1, 2019, the Company froze participation, including credited service and compensation, for salaried employees under the Pension Plan, the Pension Restoration Plan and the SERP. This change does not affect benefits accrued through December 31, 2018. For service after December 31, 2018, employees affected by the freeze receive a Company contribution to their individual Retirement Savings Account as described later in this Note 17.

Many non-U.S. employees are covered by various retirement benefit arrangements, some of which are considered to be defined benefit pension plans for accounting purposes.


OBLIGATIONS AND FUNDED STATUS

The following table shows the changes in the benefit obligation and plan assets for 2024 and 2023 and the plans’ funded status.
  20242023
In millionsU.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Change in projected benefit obligation:
Benefit obligation, January 1$8,982 $58 $8,816 $54 
Service cost53 3 48 4 
Interest cost447 3 459 3 
Actuarial loss (gain)(547)5 225 (3)
Plan amendments16 — 26 — 
Curtailments— (4)— — 
Settlements— (2)— — 
Benefits paid(609)(3)(593)(3)
Special termination benefits3 — 1 — 
Effect of foreign currency exchange rate movements— (4)— 3 
Benefit obligation, December 31$8,345 $56 $8,982 $58 
Change in plan assets:
Fair value of plan assets, January 1$8,836 $20 $8,845 $18 
Actual return on plan assets(57)1 562 1 
Company contributions23 4 22 3 
Benefits paid(609)(2)(593)(3)
Settlements— (2)— — 
Transfer Payments(4)— — — 
Effect of foreign currency exchange rate movements— (1)— 1 
Fair value of plan assets, December 31$8,189 $20 $8,836 $20 
Funded status, December 31$(156)$(36)$(146)$(38)
Amounts recognized in the consolidated balance sheet:
Overfunded pension plan assets$92 $— $118 $— 
Underfunded pension benefit obligation - current(49)(2)(20)(2)
Underfunded pension benefit obligation - non-current(199)(34)(244)(36)
 $(156)$(36)$(146)$(38)

Amounts recognized in accumulated other comprehensive income (loss) under ASC 715 (pre-tax):
Prior service cost (credit)$94 $— $91 $— 
Net actuarial loss (gain)1,691 (5)1,663 (10)
 $1,785 $(5)$1,754 $(10)


The non-current asset for the qualified plan is included in the accompanying consolidated balance sheet under Overfunded Pension Plan Assets. The non-current portion of the liability is included with the pension liability under Underfunded Pension Benefit Obligation.

The largest contributor to the actuarial loss affecting the benefit obligation was the increase in the discount rate from 5.10% at December 31, 2023 to 5.68% at December 31, 2024.

The components of the $31 million and $5 million related to U.S. plans and non-U.S. plans, respectively, in the amounts recognized in other comprehensive income ("OCI") during 2024 consisted of:
 
In millionsU.S.
Plans		Non-
U.S.
Plans
Current year actuarial (gain) loss$106 $— 
Amortization of actuarial loss(78)— 
Current year prior service cost16 — 
Amortization of prior service cost(13)— 
Settlements/curtailments— 4 
Effect of foreign currency exchange rate movements— 1 
 $31 $5 

The portion of the change in the funded status that was recognized in net periodic benefit cost and OCI for the U.S. plans was $32 million, $197 million and $474 million in 2024, 2023 and 2022, respectively. The portion of the change in funded status for the non-U.S. plans was $11 million, $2 million, and $(6) million in 2024, 2023 and 2022, respectively.

The accumulated benefit obligation at December 31, 2024 and 2023 was $8.3 billion and $9.0 billion, respectively, for our U.S. defined benefit plans and $46 million and $49 million, respectively, at December 31, 2024 and 2023 for our non-U.S. defined benefit plans.

The following table summarizes information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2024 and 2023: 

  20242023
In millionsU.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Projected benefit obligation$248 $55 $264 $57 
Accumulated benefit obligation248 46 264 49 
Fair value of plan assets— 20 — 20 
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 to the extent that they are not offset by gains in subsequent years.

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. and non-U.S. defined benefit plans comprised the following:

  202420232022
In millionsU.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Service cost$53 $3 $48 $4 $85 $3 
Interest cost447 3 459 3 338 2 
Expected return on plan assets(593)— (530)(1)(649)(1)
Actuarial loss (gain)78 — 93 (1)87 1 
Amortization of prior service cost13 — 23 — 23 — 
Special termination benefits3 — 1 — — — 
Net periodic pension (income) expense$1 $6 $94 $5 $(116)$5 
The components of net periodic pension expense other than the Service cost component are included in Non-operating pension (income) expense in the Consolidated Statement of Operations.

The decrease in 2024 pension expense primarily reflects higher asset returns, lower interest cost due to a lower discount rate, and lower actuarial loss.


ASSUMPTIONS

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, 2024 is also the discount rate used to determine net pension expense for the 2025 year).


Major actuarial assumptions used in determining the benefit obligations and net periodic pension cost for our defined benefit plans are presented in the following table:

  202420232022
  U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Actuarial assumptions used to determine benefit obligations as of December 31:
Discount rate5.68 %4.99 %5.10 %5.88 %5.40 %5.31 %
Rate of compensation increase3.00 %3.37 %3.00 %3.40 %3.00 %3.36 %
Actuarial assumptions used to determine net periodic pension cost for years ended December 31:
Discount rate (a)5.10 %5.88 %5.40 %5.31 %2.90 %2.59 %
Expected long-term rate of return on plan assets (a)7.00 %3.79 %6.50 %3.83 %6.00 %3.66 %
Rate of compensation increase3.00 %3.40 %3.00 %3.36 %3.00 %2.92 %
(a) Represents the weighted average rate for the U.S. qualified plans in 2021 due to the spin-off remeasurement.


The expected long-term rate of return on plan assets is based on projected rates of return for current 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 from a universe of high-quality corporate bonds. A settlement portfolio is selected and matched to the present value of the plan’s projected benefit payments. To calculate pension expense for 2025, the Company will use an expected long-term rate of return on plan assets of 7.00% for the Retirement Plan of International Paper, a discount rate of 5.68% and an assumed rate of compensation increase of 3.00%. The Company estimates that it will record net pension expense of approximately $36 million for its U.S. defined benefit plans in 2025, compared to expense of $1 million in 2024.

For non-U.S. pension plans, assumptions reflect economic assumptions applicable to each country.

The following illustrates the effect on pension expense for 2025 of a 25 basis point decrease in the above assumptions: 

In millions2025
Expense (Income):
Discount rate$14 
Expected long-term rate of return on plan assets20 

PLAN ASSETS

International Paper’s Board of Directors has appointed a Fiduciary Review Committee that is responsible for fiduciary oversight of the U.S. 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. For non-U.S. plans, assets consist principally of common stock and fixed income securities.

International Paper’s U.S. pension allocations by type of fund at December 31, 2024 and 2023 and target allocations were as follows:

Asset Class20242023Target
Allocations
Hedging assets62 %66 %
61% - 72%
Return seeking assets (a)38 %34 %
28% - 39%
Total100 %100 % 
(a) Return seeking assets include Real Estate (8% for 2024 and 9% for 2023) and Private Equity (7% and 7% for 2024 and 2023, respectively).

The fair values of International Paper’s pension plan assets at December 31, 2024 and 2023 by asset class are shown below. Hedge funds disclosed in the following table are allocated to hedging assets for target allocation purposes.

Fair Value Measurement at December 31, 2024
Asset ClassTotalQuoted
Prices
in
Active
Markets
For
Identical
Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
In millions        
Equities$1,537 $972 $565 $— 
Fixed income4,227 — 4,220 7 
Derivatives9 — — 9 
Cash and cash equivalents(20)(20)— — 
Other investments:
  Hedge funds1,148 
  Private equity599 
  Real estate funds689 
Total Investments$8,189 $952 $4,785 $16 

Fair Value Measurement at December 31, 2023
Asset ClassTotalQuoted
Prices in
Active
Markets
For
Identical
Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
In millions        
Equities$1,336 $835 $501 $— 
Fixed income4,691 — 4,684 7 
Derivatives71 — — 71 
Cash and cash equivalents49 49 — — 
Other investments:
  Hedge funds1,293 
  Private equity644 
  Real estate funds752 
Total Investments$8,836 $884 $5,185 $78 

In accordance with accounting standards, certain investments that are measured at NAV are not classified in the fair value hierarchy.

Other Investments at December 31, 2024
InvestmentFair ValueUnfunded CommitmentsRedemption FrequencyRemediation Notice Period
In millions
Hedge funds$1,148 $93 Quarterly to semi-annually45 - 60 days
Private equity599 50 (a)None
Real estate funds689 79 Quarterly45 - 60 days
Total$2,436 $222 
(a) A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.

Other Investments at December 31, 2023
InvestmentFair ValueUnfunded CommitmentsRedemption FrequencyRemediation Notice Period
In millions        
Hedge funds$1,293 $103 Quarterly to semi-annually45 - 60 days
Private equity644 81 (a)None
Real estate funds752 94 Quarterly45 - 60 days
Total$2,689 $278 
(a) A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.

Equity securities consist primarily of publicly traded U.S. companies and international companies. Publicly traded equities are valued at the closing prices reported in the active market in which the individual securities are traded.

Fixed income consists of government securities, mortgage-backed securities, corporate bonds, common collective funds and other fixed income investments. Government securities are valued by third-party pricing sources. Mortgage-backed security holdings consist primarily of agency-rated holdings. The fair value estimates for mortgage securities are calculated by third-party pricing sources chosen by the custodian’s price matrix. 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.

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 in 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.

The following tables summarize derivative holdings as of December 31, 2024 and 2023, respectively:

Derivatives at December 31, 2024
In millionsGross AssetGross LiabilityTotal
Collateral$17 $(1)$16 
Credit Default Swap3 — 3 
Interest Rate Swap7 — 7 
Bond/Equity Swap— (17)(17)
Total$27 $(18)$9 

Derivatives at December 31, 2023
In millionsGross AssetGross LiabilityTotal
Collateral$7 $(7)$— 
Credit Default Swap2 — 2 
Interest Rate Swap4 — 4 
Bond/Equity Swap65 — 65 
Total$78 $(7)$71 

Hedge funds are investment structures for managing private, loosely-regulated investment pools that can 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.

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 funds include commercial properties, land and timberland, and generally include, but are not limited to, retail, office, industrial, multifamily and hotel properties. 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.


The following is a reconciliation of the assets that are classified using significant unobservable inputs (Level 3) at December 31, 2024:


Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
In millionsOther
fixed
income		DerivativesTotal
Beginning balance at December 31, 2022$7 $25 $32 
Actual return on plan assets:
Relating to assets still held at the reporting date— 57 57 
Relating to assets sold during the period— 48 48 
Purchases, sales and settlements— (59)(59)
Transfers in and/or out of Level 3 — — — 
Ending balance at December 31, 2023$7 $71 $78 
Actual return on plan assets:
Relating to assets still held at the reporting date— (80)(80)
Relating to assets sold during the period— 31 31 
Purchases, sales and settlements— (13)(13)
Transfers in and/or out of Level 3 — — — 
Ending balance at December 31, 2024$7 $9 $16 
FUNDING AND CASH FLOWS

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. No voluntary contributions were made in 2022, 2023 or 2024. 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.

At December 31, 2024, projected future pension benefit payments, excluding any termination benefits, were as follows: 

In millions  
2025$663 
2026638 
2027639 
2028638 
2029637 
2030-20343,135 

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. The Company makes Retirement Savings Account contributions equal to a percentage of an eligible employee’s pay. Beginning in 2019, as a result of the freeze for salaried employees under the Pension Plan, all salaried employees are eligible for the contribution to the Retirement Savings Account.
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 (and Retirement Savings Account 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 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. Company contributions to the plans totaled approximately $177 million, $160 million and $159 million for the plan years ended in 2024, 2023 and 2022, respectively.
v3.25.0.1
Postretirement Benefits (Note)
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Defined Benefit Plan
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. 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.

In addition to the U.S. plan, certain Moroccan employees are eligible for retiree health care and life insurance benefits.

The components of postretirement benefit expense in 2024, 2023 and 2022 were as follows: 

In millions202420232022
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Interest cost$6 $— $7 $— $5 $— 
Actuarial loss1 — — — 3 — 
Net postretirement expense$7 $— $7 $— $8 $— 

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 rate assumption was determined based on a hypothetical settlement portfolio selected from a universe of high-quality corporate bonds.

The discount rates used to determine net U.S. and non-U.S. postretirement benefit cost for the years ended December 31, 2024, 2023 and 2022 were as follows: 

202420232022
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Discount rate5.20 %6.10 %5.50 %5.70 %2.90 %5.20 %
The weighted average assumptions used to determine the benefit obligation at December 31, 2024 and 2023 were as follows: 

20242023
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Discount rate5.67 %5.70 %5.20 %6.10 %
Health care cost trend rate assumed for next year6.75 %4.00 %7.00 %4.00 %
Rate that the cost trend rate gradually declines to5.00 %4.00 %5.00 %4.00 %
Year that the rate reaches the rate it is assumed to remain2032202420322023

The plans are only funded in an amount equal to benefits paid. The following table presents the changes in benefit obligation and plan assets for 2024 and 2023: 

In millions20242023
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Change in projected benefit obligation:
Benefit obligation, January 1$118 $4 $125 $4 
Interest cost6 — 7 — 
Participants’ contributions1 1 2 — 
Actuarial (gain) loss15 (1)8 — 
Benefits paid(22)— (24)— 
Benefit obligation, December 31$118 $4 $118 $4 
Change in plan assets:
Fair value of plan assets, January 1$— $— $— $— 
Company contributions21 — 22 — 
Participants’ contributions1 — 2 — 
Benefits paid(22)— (24)— 
Fair value of plan assets, December 31$— $— $— $— 
Funded status, December 31$(118)$(4)$(118)$(4)
Amounts recognized in the consolidated balance sheet under ASC 715:
Current liability$(14)$— $(13)$— 
Non-current liability(104)(4)(105)(4)
 $(118)$(4)$(118)$(4)
Amounts recognized in accumulated other comprehensive income (loss) under ASC 715 (pre-tax):
Net actuarial loss (gain)$16 $(2)$2 $(1)
 $16 $(2)$2 $(1)


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.

The components of the $14 million and ($1) million change in the amounts recognized in OCI during 2024 for U.S. and non-U.S. plans, respectively, consisted of: 

In millionsU.S.
Plans		Non-
U.S.
Plans
Current year actuarial (gain) loss$15 $(1)
Amortization of actuarial (loss) gain(1)— 
 $14 $(1)

The portion of the change in the funded status that was recognized in net periodic benefit cost and OCI for the U.S. plans was $(7) million, $(2) million and $44 million in 2024, 2023 and 2022, respectively. The portion of the change in funded status for the non-U.S. plans was $(1) million, $0 million, and $0 million in 2024, 2023 and 2022, respectively.

At December 31, 2024, estimated total future postretirement benefit payments, net of participant contributions and estimated future Medicare Part D subsidy receipts, were as follows: 

In millionsBenefit
Payments		Subsidy ReceiptsBenefit
Payments
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
2025$14 $1 $— 
202614 1 — 
202713 1 — 
202812 1 — 
202911 1 — 
2030– 203447 2 1 
v3.25.0.1
Incentive Plans (Note)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement, Additional Disclosure [Abstract]  
Share-based Payment Arrangement
On February 13, 2024, the Company's Board of Directors, upon recommendation of the Management Development and Compensation Committee (the "MDCC"), authorized adoption of a 2024 Long-Term Incentive Compensation Plan (the "2024 LTICP") to replace the 2009 Amended and Restated Incentive Compensation Plan (the "2009 Plan"), subject to shareholder approval at the Company's annual meeting of shareholders held on May 13, 2024. The 2024 LTICP became effective following approval by shareholders at the May 13, 2024 annual meeting and replaced the 2009 Plan. The 2024 LTICP authorized up to 9,250,000 shares of our Class A common stock, par value $1.00 per share, available for future grants in the form of restricted stock,
restricted or deferred stock units, performance awards payable in cash or stock upon the attainment of specified performance goals, dividend equivalents, options, stock appreciation rights, other stock-based awards and cash-based awards at the discretion of the Committee. The LTICP is administered by the Committee.

Additionally, restricted stock, which may be deferred into RSUs, may be awarded under a Restricted Stock and Deferred Compensation Plan for Non-Employee Directors.

LONG-TERM INCENTIVE PLAN

Effective January 1, 2023, the MDCC renamed the Performance Share Plan ("PSP") to the Long-Term Incentive Plan ("LTIP") and began incorporating RSUs into its annual grant process as a complement to PSUs to better align with market and aid in our recruitment and retention efforts. Under the LTIP, contingent awards of International Paper common stock are granted by the MDCC.

The maximum aggregate number of shares of the Company’s common stock that may be issued pursuant to awards under the LTICP shall not exceed 9,250,000 shares. Shares for which payment is in cash, including the shares withheld to cover associate payroll taxes, as well as shares that expire, terminate, or are canceled or forfeited, may be awarded or granted again under the LTICP.

Performance Stock Units

PSU awards are earned over a three-year period based on the achievement of pre-established performance goals of Return on Invested Capital ("ROIC") measured against our internal benchmark and our relative performance in Total Shareholder Return ("TSR") compared to the TSR peer group. The 2022-2024, 2023-2025 and 2024-2026 Awards are weighted 50% ROIC and 50% TSR for all participants. The ROIC component of the PSU awards is valued at the 20-trading day average closing price immediately prior to the grant date. As the ROIC 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 PSU awards is valued using the same methodology as the RSUs but then adjusted using a factor derived from 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, and the volatility is based on the Company’s historical volatility over the expected term. PSUs are payable in cash or shares at the Company's discretion.

Restricted Stock Units

Time-based RSU awards granted under the LTIP are expected to vest in three equal installments commencing on February 1st following the first anniversary of the grant date over a 3-year service period, subject to forfeiture and transfer restrictions. RSUs are payable in cash or shares at the Company’s discretion.

Generally, the requisite service period is the vesting period. In the case of retirement (eligibility for which is based on the associate's age and years of service as provided in the relevant award agreement), awards vest pro-rata based on length of service during the award period, subject to continued employment and paid upon termination.

Dividend equivalents are generally accrued on PSUs and RSUs outstanding as of the record date. These dividend equivalents are paid only on PSUs and RSUs that ultimately vest.

The following table sets forth the assumptions used to determine compensation cost for the market condition component of the LTIP plan: 

  Twelve Months Ended December 31, 2024
Expected volatility
27.09% - 37.11%
Risk-free interest rate
0.97% - 4.79%
The following summarizes LTIP activity for the three years ended December 31, 2024: 

Share/UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20215,926,142 $35.43 
Granted1,899,211 50.32 
Shares issued(1,130,236)40.23 
Forfeited(1,382,637)42.03 
Outstanding at December 31, 20225,312,480 38.01 
Granted - LTIP PSU1,619,481 37.78 
Granted - LTIP RSU1,411,042 34.63 
Shares issued - LTIP PSU(972,563)40.44 
Shares issued - LTIP RSU(15,161)34.63 
Forfeited(1,234,328)45.38 
Outstanding at December 31, 20236,120,951 35.31 
Granted - LTIP PSU2,039,725 35.28 
Granted - LTIP RSU1,414,316 36.15 
Shares issued - LTIP PSU(851,962)53.32 
Shares issued - LTIP RSU(446,582)34.63 
Shares issued - LTIP RSU(8,060)36.15 
Forfeited(1,350,063)45.58 
Outstanding at December 31, 20246,918,325 $31.29 

RECOGNITION AWARD PROGRAM

The Recognition Award Program ("RA Program") is service-based and designed for recruitment, retention and special recognition purposes. It provides for awards of RSUs to key employees.

The following summarizes the activity of the RA Program for the three years ended December 31, 2024: 

SharesWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2021103,769 $49.03 
Granted132,200 43.38 
Shares issued(104,177)44.53 
Forfeited(5,400)47.78 
Outstanding at December 31, 2022126,392 46.88 
Granted123,454 35.51 
Shares issued(81,629)45.40 
Forfeited(11,643)39.77 
Outstanding at December 31, 2023156,574 39.22 
Granted115,200 43.26 
Shares issued(85,236)37.53 
Forfeited(6,700)38.30 
Outstanding at December 31, 2024179,838 $42.64 


At December 31, 2024, 2023 and 2022 a total of 9.1 million, 5.5 million and 7.3 million shares, respectively, were available for grant under the LTICP.

Stock-based compensation expense and related income tax benefits were as follows:

In millions202420232022
Total stock-based compensation expense (included in selling and administrative expense)$82 $58 $124 
Income tax benefits related to stock-based compensation14 12 13 

At December 31, 2024, $72 million of compensation cost, net of estimated forfeitures, related to unvested restricted stock unit awards, performance stock unit 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 1.7 years.
v3.25.0.1
Financial Information By Business Segment And Geographic Area (Note)
 12 Months Ended
Dec. 31, 2024
Segment Reporting, Measurement Disclosures [Abstract]  
Financial Information By Business Segment And Geographic Area
International Paper operates in two segments: Industrial Packaging and Global Cellulose Fibers.

Industrial Packaging is primarily focused on producing fiber-based packaging. We produce linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft of which approximately 75% of our production is converted into corrugated packaging and other packaging. The revenue for our Industrial Packaging segment is derived from selling these products to our customers.

Global Cellulose Fibers primarily focus on producing cellulose fibers which is a renewable raw material used in a variety of products people depend on every day such as diapers, towel and tissue products, feminine care, incontinence and other personal care products. In addition, our innovative specialty pulps serve as a sustainable raw material used in textiles, construction materials, paints, coatings and more. The revenue for our Global Cellulose Fibers segment is derived from selling these products to our customers.
The accounting policies of the Industrial Packaging and Global Cellulose Fibers segments are the same as those described in the summary of significant accounting policies.

The chief operating decision maker ("CODM") assesses performance for these segments and decides how to allocate resources based on business segment operating profit. Business segment operating profits (losses) are also used by International Paper's CODM to measure the earnings performance of its businesses and to focus on on-going operations. During 2024, business segment operating profits (losses) used by the CODM were adjusted to include accelerated depreciation as part of the measure of business performance. As such, results for the year ended December 31, 2023 have been recast to reflect $422 million for accelerated depreciation related to mill strategic actions in business segment operating profit (losses).

International Paper's reportable segments are strategic business units that offer different products. They are managed separately because each business requires different resources and strategies.
International Paper’s CODM is the chief executive officer.

External sales by major product is determined by aggregating sales from each segment based on similar products or services. External sales are defined as those that are made to parties outside International Paper’s consolidated group, whereas sales by segment in the Net Sales table are determined using a management approach and include intersegment sales.

INFORMATION BY BUSINESS SEGMENT

The following tables illustrate reportable segment revenue, significant segment expenses, and measures of a segment’s profit or loss for the years ended December 31, 2024, 2023 and 2022. The table also reconciles these amounts to Earnings (loss) from continuing operations before income taxes and equity earnings.


2024:
In millionsIndustrial PackagingGlobal Cellulose FibersTotal
Net Sales$15,534 $2,793 $18,327 
Corporate and Intrasegment Sales292 
Total Net Sales18,619 
Less:
Cost of products sold10,985 1,983 
Selling and administrative expenses1,451 262 
Depreciation and amortization 850 450 
Distribution expenses1,179 295 
Other segment items (a)118 29 
Business Segment Operating Profit (Losses)951 (226)725 
Interest Expense, net208 
Adjustment for less than wholly owned subsidiaries (b)(5)
Corporate expenses, net44 
Corporate net special items251 
Business net special items122 
Non-operating pension (income) expense(42)
Earnings (losses) from continuing operations before income taxes and equity earnings (losses)$147 

2023:
In millionsIndustrial PackagingGlobal Cellulose FibersTotal
Net Sales$15,596 $2,890 $18,486 
Corporate and Intrasegment Sales430 
Total Net Sales18,916 
Less:
Cost of products sold11,093 2,121 
Selling and administrative expenses1,078 211 
Depreciation and amortization1,144 286 
Distribution expenses1,240 335 
Other segment items (a)122 29 
Business Segment Operating Profit (Losses)919 (92)827 
Interest Expense, net231 
Adjustment for less than wholly owned subsidiaries (b)(2)
Corporate expenses, net27 
Corporate net special items28 
Business net special items107 
Non-operating pension (income) expense54 
Earnings (losses) from continuing operations before income taxes and equity earnings (losses)$382 


2022:
In millionsIndustrial PackagingGlobal Cellulose FibersTotal
Net Sales$17,451 $3,227 $20,678 
Corporate and Intrasegment Sales483 
Total Net Sales21,161 
Less:
Cost of products sold12,509 2,183 
Selling and administrative expenses983 189 
Depreciation and amortization783 255 
Distribution expenses1,315 468 
Other segment items (a)119 26 
Business Segment Operating Profit (Losses)1,742 106 1,848 
Interest Expense, net325 
Adjustment for less than wholly owned subsidiaries (b)(5)
Corporate expenses, net34 
Corporate net special items99 
Business net special items76 
Non-operating pension (income) expense(192)
Earnings (losses) from continuing operations before income taxes and equity earnings (losses)$1,511 
Assets
In millions20242023
Industrial Packaging$15,805 $16,060 
Global Cellulose Fibers2,857 3,369 
Corporate and other 4,138 3,832 
Assets$22,800 $23,261 
Capital Spending
In millions202420232022
Industrial Packaging$763 $928 $762 
Global Cellulose Fibers133 177 143 
Subtotal896 1,105 905 
Corporate and other25 36 26 
Capital Spending$921 $1,141 $931 

External Sales By Major Product 
In millions202420232022
Industrial Packaging$15,533 $15,596 $17,441 
Global Cellulose Fibers2,784 2,883 3,219 
Other 302 437 501 
Net Sales$18,619 $18,916 $21,161 
INFORMATION BY GEOGRAPHIC AREA

Net Sales (c)
In millions202420232022
United States (d)$16,300 $16,340 $18,482 
EMEA1,432 1,494 1,693 
Pacific Rim and Asia157 261 123 
Americas, other than U.S.730 821 863 
Net Sales$18,619 $18,916 $21,161 
Long-Lived Assets (e)
In millions20242023
United States$8,617 $9,021 
EMEA706 757 
Americas, other than U.S.352 390 
Long-Lived Assets$9,675 $10,168 
(a)Other segment items includes Taxes other than payroll.
(b)Operating profits for industry segments include each segment’s percentage share of the profits of subsidiaries included in that segment that are less than wholly-owned. The pre-tax earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings.
(c)Net sales are attributed to countries based on the location of the seller.
(d)Export sales to unaffiliated customers were $2.9 billion in 2024, $2.7 billion in 2023 and $3.2 billion in 2022.
(e)Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net.
v3.25.0.1
Subsequent Events
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events
On February 13, 2025, the Company announced the permanent closure of its Red River containerboard mill in Campti, Louisiana with operations expected to cease by March 31, 2025. The Company expects to recognize costs associated with the closure in the first quarter of 2025, including accelerated depreciation, pre-tax cash severance and other shutdown charges.
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
RISK MANAGEMENT AND STRATEGY

The Company’s cybersecurity risk management processes are integrated into our overall risk management system. The Company has a formalized enterprise risk management program overseen by the
Board of Directors and committees of the Board of Directors that addresses strategic, operational, financial, compliance, legal and information technologies and cybersecurity risks. In addition, the Enterprise Risk Management Council (“ERM Council”) is a management-level team comprised of senior vice presidents and other business leaders responsible for managing enterprise risks and planning and organizing the activities of our organization to minimize the effects of risk on the Company's business and financial results. The ERM Council regularly reports to the Board of Directors on areas of risk and risk management. The Chief Financial Officer serves as the ERM Council Lead. The Chief Audit Executive serves as the ERM Council Process Owner.

As part of our 80/20 strategic approach and our integration of DS Smith, the Company is evaluating how the ERM Council might operate in 2025 to ensure that our structure supports our strategic goals.

The Company has an Information Technology (“IT”) Risk Governance Program that aligns with our enterprise risk management framework and assists with fulfilling oversight responsibilities for major IT risks, including cybersecurity risks. An enterprise Cyber Governance, Risk, and Compliance function manages overall Company cyber risk, coordinating risk management functions with each business. Business and IT leaders conduct cyber risk reviews monthly within each business. These monthly reviews include the evaluation of new and evolving risks, management of risk mitigation plans, and a review of all cybersecurity incidents meeting certain criteria.

Our Risk Assessment Program

The Company has a risk assessment program in place to assess, identify and manage material risks from cybersecurity threats. Cybersecurity risks the Company faces include targeted attacks, ransomware, malware, phishing attacks, data theft, other data or security breaches, virus and intrusion software, as well as attacks to our website, financial applications, operational technology, telecommunications and human resources data. Key aspects of the Company’s cybersecurity program include the following:
•layered technical protective capabilities and detective surveillance controls;
•utilizing independent third parties to assess the Company’s practices related to, and provide expertise and assistance with, various aspects of information security, as further described below;
•courses and awareness training on information security for employees with Company email or access to Company
devices, including phishing, social engineering and other cybersecurity training as well as targeted training for specific roles based on responsibilities and risk level;
•global security and privacy policies; and
•business continuity, incident response and disaster recovery procedures, including table top exercises involving senior leaders.

The Company does not believe that risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected the Company, including its business strategy, results of operations or financial condition. For a full discussion of cybersecurity risks facing the Company, please see Part I, Item 1A. Risk Factors - We are subject to cybersecurity and information technology risks related to breaches of security pertaining to sensitive company, customer, employee and vendor information as well as breaches in technology used to manage operations and other business processes.

The Company carries cyber insurance which provides coverage in connection with cybersecurity breaches.

Engagement of Third Parties

The Company engages third parties in connection with assessing, identifying and managing its cybersecurity risks, including the following:
•Engagement of an independent third party with incident response expertise to provide intelligence-based cybersecurity solutions and services to assist the Company with preparing for, preventing, investigating, responding to and remediating cybersecurity incidents, including attacks that target on-premise, cloud, and critical infrastructure environments.
•Engagement of an independent third party to conduct an annual security program assessment of the controls, maturity and performance of the Company’s information security program and the information security risk associated with the Company’s business systems. The assessment uses the National Institute of Standards and Technology Cybersecurity Framework as its benchmark.
•Engagement of a leading third-party service provider to annually perform an external and an internal penetration assessment using industry standard tools and techniques.

Additionally, our Internal Audit team conducts annual assessments of our cyber programs and controls.


Oversight of Third Parties

The Company has processes to oversee and identify material risks from cybersecurity threats associated with the Company’s use of third-party service providers. In this regard, the Company’s cybersecurity risk management program takes into account third-party systems whereby the Company could be impacted by the compromise of the security of vendors or other business relations of the Company, and the Company has a comprehensive third-party access management system. In addition, the Company conducts risk-based due diligence on the profiles of third-party service providers with respect to cybersecurity risks prior to engagement, and providers of critical services are continuously monitored with respect to security risks. The Company also requires service providers to provide prompt notification of any actual or suspected breach impacting Company data or operations.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
RISK MANAGEMENT AND STRATEGY

The Company’s cybersecurity risk management processes are integrated into our overall risk management system. The Company has a formalized enterprise risk management program overseen by the
Board of Directors and committees of the Board of Directors that addresses strategic, operational, financial, compliance, legal and information technologies and cybersecurity risks. In addition, the Enterprise Risk Management Council (“ERM Council”) is a management-level team comprised of senior vice presidents and other business leaders responsible for managing enterprise risks and planning and organizing the activities of our organization to minimize the effects of risk on the Company's business and financial results. The ERM Council regularly reports to the Board of Directors on areas of risk and risk management. The Chief Financial Officer serves as the ERM Council Lead. The Chief Audit Executive serves as the ERM Council Process Owner.

As part of our 80/20 strategic approach and our integration of DS Smith, the Company is evaluating how the ERM Council might operate in 2025 to ensure that our structure supports our strategic goals.

The Company has an Information Technology (“IT”) Risk Governance Program that aligns with our enterprise risk management framework and assists with fulfilling oversight responsibilities for major IT risks, including cybersecurity risks. An enterprise Cyber Governance, Risk, and Compliance function manages overall Company cyber risk, coordinating risk management functions with each business. Business and IT leaders conduct cyber risk reviews monthly within each business. These monthly reviews include the evaluation of new and evolving risks, management of risk mitigation plans, and a review of all cybersecurity incidents meeting certain criteria.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
International Paper has an integrated board and executive-level governance structure that oversees risks from cybersecurity threats. The Company’s Board of Directors has primary oversight of our enterprise risk management program, which includes cybersecurity risk. Moreover, the Board of Directors is supported in its oversight by the Audit and Finance Committee and PPE Committee, which share oversight responsibilities related to the Company’s information security programs. The Audit and Finance Committee reviews management’s cybersecurity and information security risk management programs and controls, including processes for management’s identification and reporting of material cybersecurity incidents. The PPE Committee reviews technology issues pertinent to the Company including those associated with information and operational technology, cybersecurity and data security and assesses related Company strategies.

Our Board of Directors, Audit and Finance Committee and PPE Committee each receives periodic updates on cybersecurity issues from management (including our Chief Information Security Officer (“CISO”)). For example, the CISO provides reports to the Audit and Finance Committee and PPE Committee at least annually regarding cybersecurity risks, as well as plans and strategies to mitigate those risks.

Furthermore, our ERM Council annually reports its activities either directly to the Board of Directors or through the Audit and Finance Committee.
Role of Management

At a management level, our cybersecurity risk management program is led by our CISO. Our current CISO has been with the Company for over 30 years, worked in Information Technology for over 25 years, and has led the Company’s security efforts since 2011. He was appointed as the Company’s first CISO in 2019. Our CISO stays current on cybersecurity issues and trends through continuing education activities such as participation at conferences and in webinars. Our CISO reports to our Chief Financial Officer. Additionally, our CISO and members of the cybersecurity team hold a number of industry recognized certifications, such as Certified Information Systems Security Professional, Certified Information Security Manager, and Certified Ethical Hacker, among others.

The Company has also adopted a cyber-incident response plan which provides for controls and procedures in connection with cybersecurity events, including escalation procedures summarized below. The cyber-incident response plan is designed to address non-operational and operational cybersecurity events. Evaluation and response to cybersecurity events is led by our Cybersecurity Incident Response Team (“CIRT”), under the direction of our CISO. The CIRT is comprised of subject matter experts representing information security, information technology, operational technology and legal. The CIRT performs an impact assessment with respect to cybersecurity incidents, gathers facts and provides a chronology of events in connection therewith, and leads remediation and recovery activities. Our General Counsel, Senior Vice President, Chief People and Strategy Officer, Chief Ethics and Compliance Officer (or their respective designees), and CISO review and assess significant non-operational data breaches. Cybersecurity events that meet specified criteria for operational impact are escalated for further review to our Business Continuity Incident Command Team (“Incident Command Team”). The Incident Command Team performs an initial assessment that includes evaluation of the cybersecurity event’s severity, response required, and estimated business cost, and leads the execution of business continuity plans to maintain Company operations. Cybersecurity events meeting certain criteria are escalated to our Disclosure Committee, General Counsel and Chief Financial Officer for further review, and, if appropriate, may be further elevated for the review of the Board of Directors. The Disclosure Committee, General Counsel and Chief Financial Officer assess and determine materiality using the facts gathered and chronology of events provided by the Incident Command Team.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
International Paper has an integrated board and executive-level governance structure that oversees risks from cybersecurity threats. The Company’s Board of Directors has primary oversight of our enterprise risk management program, which includes cybersecurity risk. Moreover, the Board of Directors is supported in its oversight by the Audit and Finance Committee and PPE Committee, which share oversight responsibilities related to the Company’s information security programs. The Audit and Finance Committee reviews management’s cybersecurity and information security risk management programs and controls, including processes for management’s identification and reporting of material cybersecurity incidents. The PPE Committee reviews technology issues pertinent to the Company including those associated with information and operational technology, cybersecurity and data security and assesses related Company strategies.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our Board of Directors, Audit and Finance Committee and PPE Committee each receives periodic updates on cybersecurity issues from management (including our Chief Information Security Officer (“CISO”)). For example, the CISO provides reports to the Audit and Finance Committee and PPE Committee at least annually regarding cybersecurity risks, as well as plans and strategies to mitigate those risks.
Furthermore, our ERM Council annually reports its activities either directly to the Board of Directors or through the Audit and Finance Committee.
Cybersecurity Risk Role of Management [Text Block]
At a management level, our cybersecurity risk management program is led by our CISO. Our current CISO has been with the Company for over 30 years, worked in Information Technology for over 25 years, and has led the Company’s security efforts since 2011. He was appointed as the Company’s first CISO in 2019. Our CISO stays current on cybersecurity issues and trends through continuing education activities such as participation at conferences and in webinars. Our CISO reports to our Chief Financial Officer. Additionally, our CISO and members of the cybersecurity team hold a number of industry recognized certifications, such as Certified Information Systems Security Professional, Certified Information Security Manager, and Certified Ethical Hacker, among others.

The Company has also adopted a cyber-incident response plan which provides for controls and procedures in connection with cybersecurity events, including escalation procedures summarized below. The cyber-incident response plan is designed to address non-operational and operational cybersecurity events. Evaluation and response to cybersecurity events is led by our Cybersecurity Incident Response Team (“CIRT”), under the direction of our CISO. The CIRT is comprised of subject matter experts representing information security, information technology, operational technology and legal. The CIRT performs an impact assessment with respect to cybersecurity incidents, gathers facts and provides a chronology of events in connection therewith, and leads remediation and recovery activities. Our General Counsel, Senior Vice President, Chief People and Strategy Officer, Chief Ethics and Compliance Officer (or their respective designees), and CISO review and assess significant non-operational data breaches. Cybersecurity events that meet specified criteria for operational impact are escalated for further review to our Business Continuity Incident Command Team (“Incident Command Team”). The Incident Command Team performs an initial assessment that includes evaluation of the cybersecurity event’s severity, response required, and estimated business cost, and leads the execution of business continuity plans to maintain Company operations. Cybersecurity events meeting certain criteria are escalated to our Disclosure Committee, General Counsel and Chief Financial Officer for further review, and, if appropriate, may be further elevated for the review of the Board of Directors. The Disclosure Committee, General Counsel and Chief Financial Officer assess and determine materiality using the facts gathered and chronology of events provided by the Incident Command Team.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Company has also adopted a cyber-incident response plan which provides for controls and procedures in connection with cybersecurity events, including escalation procedures summarized below. The cyber-incident response plan is designed to address non-operational and operational cybersecurity events. Evaluation and response to cybersecurity events is led by our Cybersecurity Incident Response Team (“CIRT”), under the direction of our CISO. The CIRT is comprised of subject matter experts representing information security, information technology, operational technology and legal. The CIRT performs an impact assessment with respect to cybersecurity incidents, gathers facts and provides a chronology of events in connection therewith, and leads remediation and recovery activities. Our General Counsel, Senior Vice President, Chief People and Strategy Officer, Chief Ethics and Compliance Officer (or their respective designees), and CISO review and assess significant non-operational data breaches. Cybersecurity events that meet specified criteria for operational impact are escalated for further review to our Business Continuity Incident Command Team (“Incident Command Team”). The Incident Command Team performs an initial assessment that includes evaluation of the cybersecurity event’s severity, response required, and estimated business cost, and leads the execution of business continuity plans to maintain Company operations. Cybersecurity events meeting certain criteria are escalated to our Disclosure Committee, General Counsel and Chief Financial Officer for further review, and, if appropriate, may be further elevated for the review of the Board of Directors. The Disclosure Committee, General Counsel and Chief Financial Officer assess and determine materiality using the facts gathered and chronology of events provided by the Incident Command Team
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our current CISO has been with the Company for over 30 years, worked in Information Technology for over 25 years, and has led the Company’s security efforts since 2011. He was appointed as the Company’s first CISO in 2019. Our CISO stays current on cybersecurity issues and trends through continuing education activities such as participation at conferences and in webinars. Our CISO reports to our Chief Financial Officer. Additionally, our CISO and members of the cybersecurity team hold a number of industry recognized certifications, such as Certified Information Systems Security Professional, Certified Information Security Manager, and Certified Ethical Hacker, among others.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Cybersecurity events meeting certain criteria are escalated to our Disclosure Committee, General Counsel and Chief Financial Officer for further review, and, if appropriate, may be further elevated for the review of the Board of Directors.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
(Accounting Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Nature Of Business
NATURE OF BUSINESS

International Paper (the "Company") is a global producer of renewable fiber-based packaging and pulp products with primary markets and manufacturing operations in North America and Europe and additional markets and manufacturing operations in Latin America, North Africa and Asia. Substantially all of our businesses have experienced, and are likely to continue to experience, cycles relating to available industry capacity and general economic conditions.
Basis of Accounting, Policy
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 management’s estimates. Actual results could differ from management’s estimates. Certain amounts from prior year have been reclassified to conform with the current year financial statement presentation.
Discontinued Operations ISCONTINUED OPERATIONS
A discontinued operation may include a component or a group of components of the Company's operations. A disposal of a component or a group of components is reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on the Company's operations and financial results when the following occurs: (1) a component (or group of components) meets the criteria to be classified as held for sale; (2) the component or group of components is disposed of by sale; or (3) the component or group of components is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spin-off). For any component classified as held for sale or disposed of by sale or other than by sale, qualifying for presentation as a discontinued operation, the Company reports the results of operations of the discontinued operations (including any gain or loss recognized on the disposal or loss recognized on classification as held for sale of a discontinued operation), less applicable income taxes (benefit), as a separate component in the consolidated statement of operations for current and all prior periods presented. The Company also reports assets and liabilities associated with discontinued operations as separate line items on the consolidated balance sheet. The Company recorded discontinued
operations for the years ended December 31, 2023 and 2022 in connection with the sale of its equity method investment in Ilim. See Note 10 for further details.
Consolidation
CONSOLIDATION

The consolidated financial statements include the accounts of International Paper and subsidiaries for which we have a controlling financial interest, including variable interest entities for which we are the primary beneficiary. All significant intercompany balances and transactions are eliminated.
Equity Method Investments
EQUITY METHOD INVESTMENTS
The equity method of accounting is applied for investments when the Company has significant influence over the investee’s operations, or when the investee is structured with separate capital accounts. Our material equity method investments are described in Note 10.
Asset Impairment Charges
OTHER-THAN-TEMPORARY IMPAIRMENT

The Company evaluates our equity method investments for other-than-temporary impairment ("OTTI") when circumstances indicate the investment may be impaired. When a decline in fair value is deemed to be an OTTI, an impairment is recognized to the extent that the fair value is less than the carrying value of the investment. We consider various factors in determining whether a loss in value of an investment is other than temporary including: the length of time and the extent to which the fair value has been below cost, the financial condition of the investee, and our intent and ability to retain the investment for a period of time sufficient to allow for recovery of value. Management makes certain judgments and estimates in its assessment including but not limited to: identifying if circumstances indicate a decline in value is other than temporary, expectations about operations, as well as industry, financial, regulatory and market factors.
Business Combinations
BUSINESS COMBINATIONS

The Company allocates the total consideration of the assets acquired and liabilities assumed based on their estimated fair value as of the business combination date. In developing estimates of fair values for long-lived assets, including identifiable intangible assets, the Company utilizes a variety of inputs including forecasted cash flows, anticipated growth rates, discount rates, estimated replacement costs and depreciation and obsolescence factors. Determining the fair value for specifically identified intangible assets such as customer lists and developed technology involves judgment. We may refine our estimates and make adjustments to the
assets acquired and liabilities assumed over a measurement period, not to exceed one year. Upon the conclusion of the measurement period or the final determination of the values of assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments are charged to the consolidated statement of operations. Subsequent actual results of the underlying business activity supporting the specifically identified intangible assets could change, requiring us to record impairment charges or adjust their economic lives in future periods. See Note 7 for further details.
Restructuring Liabilities and Costs
RESTRUCTURING LIABILITIES AND COSTS

For operations to be closed or restructured, a liability and related expense is recorded in the period when operations cease. For termination costs associated with employees covered by a written or substantive plan, a liability is recorded when it is probable that employees will be entitled to benefits and the amount can be reasonably estimated. For termination costs associated with employees not covered by a written and broadly communicated policy covering involuntary termination benefits (severance plan), a liability is recorded for costs to terminate employees (one-time termination benefits) when the termination plan has been approved and committed to by management, the employees to be terminated have been identified, the termination plan benefit terms are communicated, the employees identified in the plan have been notified and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The timing and amount of an accrual is dependent upon the type of benefits granted, the timing of communication and other provisions that may be provided in the benefit plan. The accounting for each termination is evaluated individually. See Note 6 for further details.
Revenue Recognition
REVENUE RECOGNITION

Generally, the Company recognizes revenue on a point-in-time basis when the Company transfers control of the goods to the customer. For customized goods where the Company has a legally enforceable right to payment for the goods, the Company recognizes revenue over time, which generally is, as the goods are produced.

The Company’s revenue is primarily derived from fixed consideration; however, we do have contract terms that give rise to variable consideration, primarily volume rebates, early payment discounts and other customer refunds. The Company estimates its volume rebates at the individual customer level based on the most likely amount method outlined in ASC 606 "Revenue from Contracts with Customers".
The Company estimates early payment discounts and other customer refunds based on the historical experience across the Company's portfolio of customers to record reductions in revenue that is consistent with the expected value method outlined in ASC 606. Management has concluded that these methods result in the best estimate of the consideration the Company will be entitled to from its customers.

The Company has elected to present all sales taxes on a net basis, account for shipping and handling activities as fulfillment activities, recognize the incremental costs of obtaining a contract as expense when incurred if the amortization period of the asset the Company would recognize is one year or less, and not record interest income or interest expense when the difference in timing of control or transfer and customer payment is one year or less. See Note 3 for further details.
Temporary Investments, Policy
TEMPORARY INVESTMENTS

Temporary investments with an original maturity of three months or less and money market funds with greater than three-month maturities but with the right to redeem without notice are treated as cash equivalents and are stated at cost, which approximates market value. See Note 8 for further details.
Inventories
INVENTORIES

Inventories 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. These inventories are measured at the lower of cost or market. Other inventories are valued using the first-in, first-out or average cost methods. These inventories are measured at the lower of cost or net realizable value. See Note 8 for further details.
Leased Assets
LEASED ASSETS

Operating lease right of use ("ROU") assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. The Company's leases may include options to extend or terminate the lease. These options to extend are included in the lease term when it is reasonably certain that we will exercise that option. Some leases have variable payments, however, because they are not based on an index or rate, they are not included in the ROU assets and liabilities. Variable payments for real estate leases primarily relate to common area maintenance, insurance, taxes and utilities. Variable payments for equipment, vehicles, and leases within
supply agreements primarily relate to usage, repairs and maintenance. As the implicit rate is not readily determinable for most of the Company's leases, the Company applies a portfolio approach using an estimated incremental borrowing rate to determine the initial present value of lease payments over the lease terms on a collateralized basis over a similar term, which is based on market and company specific information. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate, and apply the rate based on the currency of the lease, which is updated on a quarterly basis for measurement of new lease liabilities. Leases having a lease term of twelve months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the term of the lease. In addition, the Company has applied the practical expedient to account for the lease and non-lease components as a single lease component for all of the Company's leases except for certain gas and chemical agreements. See Note 9 for further details.
Plants, Properties And Equipment
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 pulp and paper mills, and the straight-line method is used for other plants and equipment. If a decision is made to abandon plants, properties or equipment before the end of its useful life, depreciation expense is revised to reflect the shortened useful life. See Note 8 for further details.
Goodwill
GOODWILL

Annual evaluation for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim evaluation 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.

The Company has the option to evaluate goodwill for impairment by first performing a qualitative assessment of events and circumstances to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amounts, then the quantitative goodwill impairment test is not required to be performed. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, or if the
Company does not elect the option to perform an initial qualitative assessment, the Company is required to perform the quantitative goodwill impairment test. In performing this evaluation, the Company estimates the fair value of its reporting unit using a weighted approach based on discounted future cash flows, market multiples and transaction multiples. The determination of fair value using the discounted cash flow approach requires management to make significant estimates and assumptions related to forecasts of future revenues, operating profit margins, and discount rates. The determination of fair value using market multiples and transaction multiples requires management to make significant assumptions related to revenue multiples and adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA") multiples. For reporting units whose carrying amount is in excess of their estimated fair value, the reporting unit will record an impairment charge by the amount that the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit.
Impairment Of Long-Lived Assets
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. A recoverability test is performed by comparing the undiscounted cash flows to carrying value of the assets. The inputs related to the undiscounted cash flows requires judgments as to whether assets are held and used or held for sale, the weighting of operational alternatives being considered by management and estimates of the amount and timing of expected future cash flows from the use of the long-lived assets generated by their use. If the carrying amount is less than the undiscounted cash flows, the fair value of the assets is compared to the carrying value to determine if they are impaired. We estimate fair value using discounted cash flows and other valuation techniques as needed. Impaired assets are recorded at their estimated fair value.
Income Taxes
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 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 Company’s 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 recent court cases that are relevant to the matter. Accrued interest related to these uncertain tax positions is recorded in our consolidated statement of operations in Interest expense, net.

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 adjustments that could materially affect future financial statements. See Note 12 for further details.

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 assessing the need for and magnitude of appropriate valuation allowances against deferred tax assets. This assessment is completed by tax jurisdiction and relies on both positive and negative evidence available, with significant weight placed on recent financial results. Cumulative reported pre-tax income is considered objectively verifiable positive evidence of our ability to generate positive pre-tax income in the future. In accordance with GAAP, when there is a recent history of pre-tax losses, there is little or no weight placed on forecasts for purposes of assessing the recoverability of our deferred tax assets. When necessary, we use systematic and logical methods to estimate when deferred tax liabilities will reverse and generate taxable income and when deferred tax assets will reverse and generate tax deductions. Assumptions, judgment, and the use of estimates are required when scheduling the reversal of deferred tax assets and liabilities, and the exercise is inherently complex and subjective. The realization of these assets is dependent on generating future taxable income, as well as
successful implementation of various tax planning strategies.

International Paper uses the flow-through method to account for investment tax credits earned on eligible open-loop biomass facilities and combined heat and power system expenditures. Under this method, the investment tax credits are recognized as a reduction to income tax expense in the year they are earned rather than a reduction in the asset basis.
Environmental Remediation Costs
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. See Note 13 for further details.
Translation Of Financial Statements
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 income (loss).
Fair Value Measurement, Policy
FAIR VALUE MEASUREMENTS

The guidance for fair value measurements and disclosures sets out a fair value hierarchy that groups fair value measurement inputs into the following three classifications:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Unobservable inputs for the asset or liability reflecting the reporting entity’s own assumptions or external inputs from inactive markets.

Transfers between levels are recognized at the end of the reporting period.
v3.25.0.1
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block]
2024
Reportable SegmentsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$13,386 $2,623 $291 $16,300 
EMEA1,355 77 — 1,432 
Pacific Rim and Asia63 93 1 157 
Americas, other than U.S.730 — — 730 
Total$15,534 $2,793 $292 $18,619 
Operating Segments
North American Industrial Packaging$14,293 $— $— $14,293 
EMEA Industrial Packaging1,355 — — 1,355 
Global Cellulose Fibers— 2,793 — 2,793 
Intrasegment Eliminations(114)— — (114)
Corporate & Intersegment Sales— — 292 292 
Total$15,534 $2,793 $292 $18,619 
(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.

2023
Reportable SegmentsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$13,340 $2,570 $430 $16,340 
EMEA1,398 96 — 1,494 
Pacific Rim and Asia37 224 — 261 
Americas, other than U.S.821 — — 821 
Total$15,596 $2,890 $430 $18,916 
Operating Segments
North American Industrial Packaging$14,293 $— $— $14,293 
EMEA Industrial Packaging1,398 — — 1,398 
Global Cellulose Fibers— 2,890 — 2,890 
Intrasegment Eliminations(95)— — (95)
Corporate & Intersegment Sales— — 430 430 
Total$15,596 $2,890 $430 $18,916 

(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.
2022
Reportable SegmentsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$14,970 $3,032 $480 $18,482 
EMEA1,572 121 — 1,693 
Pacific Rim and Asia46 74 3 123 
Americas, other than U.S.863 — — 863 
Total$17,451 $3,227 $483 $21,161 
Operating Segments
North American Industrial Packaging$16,011 $— $— $16,011 
EMEA Industrial Packaging1,572 — — 1,572 
Global Cellulose Fibers— 3,227 — 3,227 
Intrasegment Eliminations(132)— — (132)
Corporate & Intersegment Sales— — 483 483 
Total$17,451 $3,227 $483 $21,161 

(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.
v3.25.0.1
Earnings Per Share Attributable To International Paper Company Common Shareholders (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule Of Earnings Per Share, Basic and Diluted [Table Text Block]
A reconciliation of the amounts included in the computation of basic earnings (loss) per share from continuing operations, and diluted earnings (loss) per share from continuing operations is as follows: 

In millions, except per share amounts202420232022
Earnings (loss) from continuing operations attributable to International Paper common shareholders$557 $302 $1,741 
Weighted average common shares outstanding347.2 346.9 363.5 
Effect of dilutive securities:
Restricted performance share plan7.0 2.2 3.5 
Weighted average common shares outstanding  – assuming dilution354.2 349.1 367.0 
Basic earnings (loss) per share from continuing operations$1.60 $0.87 $4.79 
Diluted earnings (loss) per share from continuing operations$1.57 $0.86 $4.74 
v3.25.0.1
Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table presents changes in Accumulated Other Comprehensive Loss ("AOCI"), net of tax, reported in the consolidated financial statements for the years ended December 31:

In millions202420232022
Defined Benefit Pension and Postretirement Adjustments
Balance at beginning of period$(1,276)$(1,195)$(962)
Other comprehensive income (loss) before reclassifications(105)(167)(319)
Amounts reclassified from accumulated other comprehensive loss69 86 86 
Balance at end of period(1,312)(1,276)(1,195)
Change in Cumulative Foreign Currency Translation Adjustments
Balance at beginning of period(281)(722)(694)
Other comprehensive income (loss) before reclassifications(121)(76)(38)
Amounts reclassified from accumulated other comprehensive loss— 517 10 
Balance at end of period(402)(281)(722)
Net Gains and Losses on Cash Flow Hedging Derivatives
Balance at beginning of period(8)(8)(10)
Amounts reclassified from accumulated other comprehensive loss— — 2 
Balance at end of period(8)(8)(8)
Total Accumulated Other Comprehensive Income (Loss) at End of Period$(1,722)$(1,565)$(1,925)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
Reclassifications out of AOCI for the three years ended December 31 were as follows:

Amount Reclassified from Accumulated Other Comprehensive LossLocation of Amount Reclassified from AOCI
202420232022
In millions
Defined benefit pension and postretirement items:
Prior-service costs$(13)$(23)$(23)(a)Non-operating pension expense
Actuarial gains/(losses)(78)(92)(91)(a)Non-operating pension expense
Total pre-tax amount(91)(115)(114)
Tax (expense)/benefit22 29 28 
Net of tax(69)(86)(86)
Change in cumulative foreign currency translation adjustments:
Business divestiture— (517)(10)(b)Net (gains) losses on sales of equity method investments and Discontinued Operations, net of taxes
Tax (expense)/benefit— — — 
Net of tax— (517)(10)
Net gains and losses on cash flow hedging derivatives:
Cash flow hedges— — (3) Interest expense, net
Total pre-tax amount— — (3)
Tax (expense)/benefit— — 1 
Total, net of tax— — (2)
Total reclassifications for the period, net of tax$(69)$(603)$(98)
(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note 17 - Retirement Plans for additional details).
(b) See Note 10 - Equity Method Investments for additional details for 2023 amounts.
v3.25.0.1
Restructuring Charges and Other Items (Tables)
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs [Table Text Block]

2024: During 2024, restructuring and other charges, net, totaling $221 million before taxes were recorded. The charges included:

In millions2024
80/20 strategic approach (a)$105 
Georgetown mill closure costs (b)119 
Other restructuring items(3)
Total$221 

(a) Severance and other costs related to the resource alignment component of our 80/20 strategic approach. These severance and other costs include $61 million, $42 million and $2 million in the Corporate, Industrial Packaging and Global Cellulose Fibers segments, respectively. The severance charges are recorded in Accrued payroll and benefits and Other Liabilities in the accompanying consolidated balance sheet. The majority of these charges will be paid in 2025.
(b) Includes $39 million of severance charges recorded in Accrued payroll and benefits in the accompanying consolidated balance sheet, $34 million of inventory charges recorded in Inventories in the accompanying consolidated balance sheet and $46 million of other costs recorded in Other current liabilities and Other Liabilities in the accompanying consolidated balance sheet, associated with the permanent closure of our Georgetown, South Carolina mill. The majority of the severance charges will be paid in 2025.

2023: During 2023, restructuring and other charges, net, totaling $99 million before taxes were recorded. The charges included:

In millions2023
Orange, Texas mill closure costs (a)$81 
Pensacola mill and Riegelwood mill pulp machine shutdowns (b)37 
Building a Better IP (c)(19)
Total$99 

(a) Includes $25 million of severance charges, $30 million of inventory charges and $26 million of other costs associated with the closure of our containerboard mill in Orange, Texas. The majority of the severance charges were paid in 2024.
(b) Includes $21 million of severance charges, $12 million of inventory charges and $4 million of other costs associated with the permanent shutdown of pulp machines at our Riegelwood, North Carolina and Pensacola, Florida mills. The majority of the severance charges were paid in 2024.
(c) Revision of severance estimates related to our Building a Better IP initiative.

2022: During 2022, restructuring and other charges, net, totaling $89 million before taxes were recorded. These charges included:

In millions2022
Early debt extinguishment costs (see Note 16)$93 
Other restructuring items(4)
Total$89 
v3.25.0.1
Supplementary Financial Statement Information (Tables)
 12 Months Ended
Dec. 31, 2024
Disclosure Text Block Supplement [Abstract]  
Accounts And Notes Receivable [Table Text Block]
Accounts and notes receivable, net, by classification were: 
In millions at December 3120242023
Accounts and notes receivable:
Trade (less allowances of $30 in 2024 and $34 in 2023)
$2,703 $2,841 
Other263 218 
Total$2,966 $3,059 
Inventories By Major Category [Table Text Block]
In millions at December 3120242023
Raw materials$188 $229 
Finished pulp and packaging products934 975 
Operating supplies623 622 
Other39 63 
Inventories$1,784 $1,889 
Plants, Properties And Equipment By Major Classification [Table Text Block]
In millions at December 3120242023
Pulp and packaging facilities$28,249 $28,661 
Other properties and equipment1,031 1,050 
Gross cost29,280 29,711 
Less: Accumulated depreciation19,622 19,561 
Plants, properties and equipment, net$9,658 $10,150 
Supplier Finance Program [Table Text Block]
The following table presents supplier finance program obligations confirmed and paid for the years ended December 31, 2024 and 2023:

In millions
Confirmed obligations outstanding at December 31, 2022$122 
Invoiced confirmed during the year594
Confirmed invoices paid during the year (594)
Confirmed obligations outstanding at December 31, 2023122
Invoiced confirmed during the year516
Confirmed invoices paid during the year(523)
Confirmed obligations outstanding at December 31, 2024$115 
Schedule of Other Income and Other Expense [Table Text Block]
Amounts related to interest were as follows: 
In millions202420232022
Interest expense$430 $421 $403 
Interest income 222 190 78 
Capitalized interest costs21 22 18 
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease, Cost [Table Text Block]
COMPONENTS OF LEASE EXPENSE

In millions202420232022
Operating lease costs, net$188 $177 $153 
Variable lease costs 52 39 39 
Short-term lease costs, net74 71 57 
Finance lease cost
Amortization of lease assets11 12 11 
Interest on lease liabilities3 3 3 
Total lease cost, net$328 $302 $263 
Schedule of Supplemental Balance Sheet Information Related to Leases [Table Text Block]
SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

In millionsClassification20242023
Assets
Operating lease assetsRight of use assets$433 $448 
Finance lease assetsPlants, properties and equipment, net (a)39 47 
Total leased assets$472 $495 
Liabilities
Current
OperatingOther current liabilities$156 $153 
FinanceNotes payable and current maturities of long-term debt11 11 
Noncurrent
OperatingLong-term lease obligations292 312 
FinanceLong-term debt38 44 
Total lease liabilities$497 $520 
(a) Finance leases are recorded net of accumulated amortization of $70 million and $67 million at December 31, 2024 and 2023, respectively.
Schedule of Lease Terms and Discount Rates Related to Leases [Table Text Block]
LEASE TERM AND DISCOUNT RATE

In millions20242023
Weighted average remaining lease term (years)
Operating leases 3.6 years4.0 years
Finance leases7.2 years7.7 years
Weighted average discount rate
Operating leases4.34 %3.99 %
Finance leases4.93 %4.78 %
Schedule of Supplemental Cash Flow Information Related to Leases [Table Text Block]
SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES
In millions202420232022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows related to operating leases$202 $180 $160 
Operating cash flows related to financing leases3 3 3 
Financing cash flows related to finance leases9 13 10 
Right of use assets obtained in exchange for lease liabilities
Operating leases185 216 221 
Finance leases6 12 6 
Schedule of Maturities of Operating and Finance Leases Liabilities [Table Text Block]
MATURITY OF LEASE LIABILITIES

In millionsOperating Leases Financing LeasesTotal
2025$175 $13 $188 
2026133 12 145 
202794 10 104 
202849 8 57 
202921 7 28 
Thereafter21 13 34 
Total lease payments493 63 556 
Less imputed interest45 14 59 
Present value of lease liabilities $448 $49 $497 
v3.25.0.1
Equity Method Investments (Tables)
 12 Months Ended
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]  
Ilim Transactions Table Tex Block [Table Text Block] he following summarizes the items comprising Equity Earnings, Impairment Charges, Tax Expense (Benefit), Discontinued Operations and Dividends related to the sale of our equity interest in Ilim:
In millionsEquity EarningsImpairment ChargesTax Expense (Benefit)Discontinued Operations, net of tax (a)Dividends
Year Ended December 31, 2022$296 $533 $— $(237)$204 
Year Ended December 31, 2023$112 $135 $(9)$(14)$13 
(a)    Discontinued operations, net of tax is Equity Earnings less Impairment Charges and Tax Expense (Benefit).
v3.25.0.1
Goodwill And Other Intangibles (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes In Goodwill Balances [Table Text Block]
GOODWILL

The following table presents changes in the goodwill balances as allocated to each reportable business segment for the years ended December 31, 2024 and 2023: 
In millionsIndustrial
Packaging		Global Cellulose FibersTotal
Balance as of December 31, 2022
Goodwill$3,413 $52   $3,465 
Accumulated impairment losses (372)(52)  (424)
3,041 — 3,041 
Balance as of December 31, 2023
Goodwill3,413   52 3,465 
Accumulated impairment losses (372)  (52)(424)
3,041   — 3,041 
Currency translation and other (a)(3)— (3)
Balance as of December 31, 2024
Goodwill3,410 52   3,462 
Accumulated impairment losses (372)(52)  (424)
Total$3,038 $—   $3,038 
    (a) Represents the effects of foreign currency translations and reclassifications.
Identifiable Intangible Assets [Table Text Block]
Identifiable intangible assets are recorded in Deferred Charges and Other Assets in the accompanying consolidated balance sheet and comprised the following:

  20242023
In millions at December 31Gross
Carrying
Amount		Accumulated
Amortization		Net Intangible AssetsGross
Carrying
Amount		Accumulated
Amortization		Net Intangible Assets
Customer relationships and lists$489 $360 $129 $494 $335 $159 
Tradenames, patents and trademarks, and developed technology170 162 8 170 154 16 
Land and water rights8 2 6 8 2 6 
Other19 17 2 21 19 2 
Total $686 $541 $145 $693 $510 $183 
Amortization Expense Of Intangible Assets [Table Text Block]
The Company recognized the following amounts as amortization expense related to intangible assets: 

In millions202420232022
Amortization expense related to intangible assets$37 $37 $44 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Tax, Domestic and Foreign [Table Text Block]
The components of International Paper’s earnings from continuing operations before income taxes and equity earnings by taxing jurisdiction were as follows:
 
In millions202420232022
Earnings (loss)
U.S.$(140)$129 $1,469 
Non-U.S.287 253 42 
Earnings (loss) from continuing operations before income taxes and equity earnings (losses)$147 $382 $1,511 
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The provision (benefit) for income taxes from continuing operations (excluding noncontrolling interests) by taxing jurisdiction was as follows:
In millions202420232022
Current tax provision (benefit)
U.S. federal$(4)$157 $454 
U.S. state and local20 16 56 
Non-U.S.42 42 27 
 $58 $215 $537 
Deferred tax provision (benefit)
U.S. federal$(367)$(164)$(775)
U.S. state and local(98)3 (39)
Non-U.S.(8)5 41 
 $(473)$(156)$(773)
Income tax provision (benefit)$(415)$59 $(236)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
A reconciliation of income tax expense using the statutory U.S. income tax rate compared with the actual income tax provision follows: 

In millions202420232022
Earnings (loss) from continuing
operations before income taxes
and equity earnings		$147 $382 $1,511 
Statutory U.S. income tax rate21 %21 %21 %
Tax expense (benefit) using statutory U.S. income tax rate31 80 317 
State and local income taxes(62)2 44 
Impact of rate differential on non-U.S. permanent differences and earnings(26)(10)1 
Foreign valuation allowance— — 45 
Tax expense (benefit) on exchange of Sylvamo shares— — (56)
Non-taxable income(4)(2)(2)
Non-deductible business expenses21 7 2 
Non-deductible impairments— — 16 
Non-deductible compensation8 7 13 
Tax audits— (4)6 
Timber Monetization Audit Settlement— — (604)
Foreign derived intangible income deduction— 2 (8)
US tax on non-U.S. earnings (GILTI and Subpart F)32 — 27 
Foreign tax credits7 8 8 
General business and other tax credits(31)(38)(43)
Tax expense (benefit) on equity earnings(1)(4)(1)
Legal entity restructuring expense (benefit)(391)4 — 
Other, net1 7 (1)
Income tax provision (benefit)$(415)$59 $(236)
Effective income tax rate(282)%15 %(16)%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The tax effects of significant temporary differences, representing deferred income tax assets and liabilities at December 31, 2024 and 2023, were as follows: 

In millions20242023
Deferred income tax assets:
Postretirement benefit accruals$72 $67 
Pension obligations63 61 
Tax credits183 182 
Net operating and capital loss carryforwards1,181 699 
Compensation reserves224 146 
Lease obligations112 116 
Environmental reserves131 114 
Investments4 — 
Research and development expenditures240 162 
Other203 157 
Gross deferred income tax assets$2,413 $1,704 
Less: valuation allowance (a)(1,201)(848)
Net deferred income tax asset$1,212 $856 
Deferred income tax liabilities:
Intangibles$(133)$(141)
Investments— 3 
Right of use assets(112)(116)
Plants, properties and equipment(1,528)(1,650)
Forestlands, related installment sales, and investment in subsidiary(486)(485)
Gross deferred income tax liabilities$(2,259)$(2,389)
Net deferred income tax liability$(1,047)$(1,533)
(a) The net change in the total valuation allowance for the years ended December 31, 2024 and 2023 was an increase of $353 million and a increase of $171 million, respectively.
Schedule of Unrecognized Tax Benefits Rollforward [Table Text Block]
A reconciliation of the beginning and ending amount of unrecognized tax benefits recorded in Other Liabilities in the accompanying consolidated balance
sheet for the years ended December 31, 2024, 2023 and 2022 is as follows: 

In millions202420232022
Balance at January 1$(173)$(177)$(166)
(Additions) reductions for tax positions related to current year(10)(13)(7)
(Additions) for tax positions related to prior years(40)(11)(10)
Reductions for tax positions related to prior years7 1 3 
Settlements4 17 1 
Expiration of statutes of
limitations		6 11 1 
Currency translation adjustment2 (1)1 
Balance at December 31$(204)$(173)$(177)
Summary of Operating Loss and Tax Credit Carryforwards [Table Text Block]
The following details the scheduled expiration dates of the Company’s net operating loss and income tax credit and capital loss carryforwards:
 
In millions2025
Through
2034		2035
Through
2044		IndefiniteTotal
U.S. federal and non-U.S. NOLs$3 $603 $397 $1,003 
State taxing jurisdiction NOLs (a)28 9 — 37 
U.S. federal, non-
U.S. and state tax credit carryforwards (a)		73 14 96 183 
U.S. federal and state capital loss carryforwards (a)141 — — 141 
Total$245 $626 $493 $1,364 
Less: valuation allowance (a)(58)(612)(449)(1,119)
Total, net$187 $14 $44 $245 
(a) State amounts are presented net of federal benefit.
v3.25.0.1
Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2024
Schedule of Activity Between Company and Financing Entities [Table Text Block]
Activity between the Company and the 2007 financing entities was as follows:

In millions202420232022
Revenue (a)$152 $146 $65 
Expense (b)136 136 58 
Cash receipts (c)135 122 28 
Cash payments (d)130 123 40 

(a)The revenue is included in Interest expense, net, in the accompanying consolidated statement of operations and includes approximately $19 million for the years ended December 31, 2024, 2023 and 2022, respectively, of accretion income for the amortization of the purchase accounting adjustment on the Financial assets of variable interest entities.
(b) The expense is included in Interest expense, net, in the accompanying consolidated statement of operations and includes approximately $7 million for the years ended December 31, 2024, 2023 and 2022 respectively, of accretion expense for the amortization of the purchase accounting adjustment on the Long-term nonrecourse financial liabilities of variable interest entities.
(c) The cash receipts are interest received on the Financial assets of special purpose entities.
(d) The cash payments are interest paid on Nonrecourse financial liabilities of special purpose entities.
v3.25.0.1
Debt And Lines Of Credit (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Instruments [Abstract]  
Debt Extinguishment [Table Text Block]
Amounts related to early debt extinguishment during the years ended December 31, 2024, 2023 and 2022 were as follows: 

In millions202420232022
Early debt reductions (a)$— $— $503 
Pre-tax early debt extinguishment costs (b)— — 93 
(a)Reductions related to notes with interest rates ranging from 4.35% to 8.70% with original maturities from 2023 to 2048 for the year ended December 31, 2022.
(b)Amounts are included in Restructuring and other charges in the accompanying consolidated statements of operations.
Summary Of Long-Term Debt [Table Text Block]
A summary of long-term debt follows: 
In millions at December 3120242023
7.350% notes – due 2025
$39 $39 
7.750% notes – due 2025
22 22 
7.200% notes – due 2026
58 58 
6.400% notes – due 2026
5 5 
7.150% notes – due 2027
7 7 
6.875% notes – due 2029
10 10 
5.000% notes – due 2035
407 407 
6.650% notes – due 2037
3 3 
8.700% notes – due 2038
86 86 
7.300% notes – due 2039
453 453 
6.000% notes – due 2041
585 585 
4.800% notes – due 2044
686 686 
5.150% notes – due 2046
449 449 
4.400% notes – due 2047
647 647 
4.350% notes – due 2048
740 740 
Floating rate notes – due 2027 – 2030 (a)
308 308 
Environmental and industrial development bonds – due 2025 – 2031 (b)
394 419 
Floating rate term loan - due 2028
600 600 
Total principal5,499 5,524 
Capitalized leases49 55 
Premiums, discounts, and debt issuance costs(39)(41)
Terminated interest rate swaps51 54 
Other 1 1 
Total (c)5,561 5,593 
Less: current maturities193 138 
Long-term debt$5,368 $5,455 
(a)The weighted average interest rate on these notes was 4.6% in 2024 and 5.4% in 2023.
(b)The weighted average interest rate on these bonds was 2.8% in 2024 and 2.4% in 2023.
(c)The fair market value was approximately $5.2 billion at December 31, 2024 and $5.5 billion at December 31, 2023. Debt fair value measurements use Level 2 inputs.
v3.25.0.1
Capital Stock (Tables)
 12 Months Ended
Dec. 31, 2024
Class of Stock Disclosures [Abstract]  
Rollforward Of Common Stock Activity [Table Text Block]
The following is a roll forward of shares of common stock for the three years ended December 31, 2024, 2023 and 2022: 

  Common Stock
In thousandsIssuedTreasury
Balance at January 1, 2022448,916 70,362 
Issuance of stock for various plans, net— (1,569)
Repurchase of stock— 29,839 
Balance at December 31, 2022448,916 98,632 
Issuance of stock for various plans, net— (1,647)
Repurchase of stock— 5,894 
Balance at December 31, 2023448,916 102,879 
Issuance of stock for various plans, net— (2,028)
Repurchase of stock— 648 
Balance at December 31, 2024448,916 101,499 
v3.25.0.1
Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]  
Net Periodic Pension Expense For Qualified And Nonqualified U.S. Defined Benefit Plans [Table Text Block]
Net periodic pension expense for qualified and nonqualified U.S. and non-U.S. defined benefit plans comprised the following:

  202420232022
In millionsU.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Service cost$53 $3 $48 $4 $85 $3 
Interest cost447 3 459 3 338 2 
Expected return on plan assets(593)— (530)(1)(649)(1)
Actuarial loss (gain)78 — 93 (1)87 1 
Amortization of prior service cost13 — 23 — 23 — 
Special termination benefits3 — 1 — — — 
Net periodic pension (income) expense$1 $6 $94 $5 $(116)$5 
Defined Benefit Plan, Plan Assets, Allocation [Table Text Block]
International Paper’s U.S. pension allocations by type of fund at December 31, 2024 and 2023 and target allocations were as follows:

Asset Class20242023Target
Allocations
Hedging assets62 %66 %
61% - 72%
Return seeking assets (a)38 %34 %
28% - 39%
Total100 %100 % 
Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of International Paper’s pension plan assets at December 31, 2024 and 2023 by asset class are shown below. Hedge funds disclosed in the following table are allocated to hedging assets for target allocation purposes.

Fair Value Measurement at December 31, 2024
Asset ClassTotalQuoted
Prices
in
Active
Markets
For
Identical
Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
In millions        
Equities$1,537 $972 $565 $— 
Fixed income4,227 — 4,220 7 
Derivatives9 — — 9 
Cash and cash equivalents(20)(20)— — 
Other investments:
  Hedge funds1,148 
  Private equity599 
  Real estate funds689 
Total Investments$8,189 $952 $4,785 $16 

Fair Value Measurement at December 31, 2023
Asset ClassTotalQuoted
Prices in
Active
Markets
For
Identical
Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
In millions        
Equities$1,336 $835 $501 $— 
Fixed income4,691 — 4,684 7 
Derivatives71 — — 71 
Cash and cash equivalents49 49 — — 
Other investments:
  Hedge funds1,293 
  Private equity644 
  Real estate funds752 
Total Investments$8,836 $884 $5,185 $78 
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block]
Other Investments at December 31, 2024
InvestmentFair ValueUnfunded CommitmentsRedemption FrequencyRemediation Notice Period
In millions
Hedge funds$1,148 $93 Quarterly to semi-annually45 - 60 days
Private equity599 50 (a)None
Real estate funds689 79 Quarterly45 - 60 days
Total$2,436 $222 
(a) A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.

Other Investments at December 31, 2023
InvestmentFair ValueUnfunded CommitmentsRedemption FrequencyRemediation Notice Period
In millions        
Hedge funds$1,293 $103 Quarterly to semi-annually45 - 60 days
Private equity644 81 (a)None
Real estate funds752 94 Quarterly45 - 60 days
Total$2,689 $278 
(a) A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.
Schedule of Derivative Instruments [Table Text Block]
The following tables summarize derivative holdings as of December 31, 2024 and 2023, respectively:

Derivatives at December 31, 2024
In millionsGross AssetGross LiabilityTotal
Collateral$17 $(1)$16 
Credit Default Swap3 — 3 
Interest Rate Swap7 — 7 
Bond/Equity Swap— (17)(17)
Total$27 $(18)$9 

Derivatives at December 31, 2023
In millionsGross AssetGross LiabilityTotal
Collateral$7 $(7)$— 
Credit Default Swap2 — 2 
Interest Rate Swap4 — 4 
Bond/Equity Swap65 — 65 
Total$78 $(7)$71 
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Table Text Block]
The following is a reconciliation of the assets that are classified using significant unobservable inputs (Level 3) at December 31, 2024:


Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
In millionsOther
fixed
income		DerivativesTotal
Beginning balance at December 31, 2022$7 $25 $32 
Actual return on plan assets:
Relating to assets still held at the reporting date— 57 57 
Relating to assets sold during the period— 48 48 
Purchases, sales and settlements— (59)(59)
Transfers in and/or out of Level 3 — — — 
Ending balance at December 31, 2023$7 $71 $78 
Actual return on plan assets:
Relating to assets still held at the reporting date— (80)(80)
Relating to assets sold during the period— 31 31 
Purchases, sales and settlements— (13)(13)
Transfers in and/or out of Level 3 — — — 
Ending balance at December 31, 2024$7 $9 $16 
Retirement Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]
The following table shows the changes in the benefit obligation and plan assets for 2024 and 2023 and the plans’ funded status.
  20242023
In millionsU.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Change in projected benefit obligation:
Benefit obligation, January 1$8,982 $58 $8,816 $54 
Service cost53 3 48 4 
Interest cost447 3 459 3 
Actuarial loss (gain)(547)5 225 (3)
Plan amendments16 — 26 — 
Curtailments— (4)— — 
Settlements— (2)— — 
Benefits paid(609)(3)(593)(3)
Special termination benefits3 — 1 — 
Effect of foreign currency exchange rate movements— (4)— 3 
Benefit obligation, December 31$8,345 $56 $8,982 $58 
Change in plan assets:
Fair value of plan assets, January 1$8,836 $20 $8,845 $18 
Actual return on plan assets(57)1 562 1 
Company contributions23 4 22 3 
Benefits paid(609)(2)(593)(3)
Settlements— (2)— — 
Transfer Payments(4)— — — 
Effect of foreign currency exchange rate movements— (1)— 1 
Fair value of plan assets, December 31$8,189 $20 $8,836 $20 
Funded status, December 31$(156)$(36)$(146)$(38)
Amounts recognized in the consolidated balance sheet:
Overfunded pension plan assets$92 $— $118 $— 
Underfunded pension benefit obligation - current(49)(2)(20)(2)
Underfunded pension benefit obligation - non-current(199)(34)(244)(36)
 $(156)$(36)$(146)$(38)
Schedule Of Amounts In Accumulated Other Comprehensive Income [Table Text Block]
Amounts recognized in accumulated other comprehensive income (loss) under ASC 715 (pre-tax):
Prior service cost (credit)$94 $— $91 $— 
Net actuarial loss (gain)1,691 (5)1,663 (10)
 $1,785 $(5)$1,754 $(10)
Pension Benefit Adjustments Recognized In Other Comprehensive (Loss) Income [Table Text Block]
The components of the $31 million and $5 million related to U.S. plans and non-U.S. plans, respectively, in the amounts recognized in other comprehensive income ("OCI") during 2024 consisted of:
 
In millionsU.S.
Plans		Non-
U.S.
Plans
Current year actuarial (gain) loss$106 $— 
Amortization of actuarial loss(78)— 
Current year prior service cost16 — 
Amortization of prior service cost(13)— 
Settlements/curtailments— 4 
Effect of foreign currency exchange rate movements— 1 
 $31 $5 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table summarizes information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2024 and 2023: 

  20242023
In millionsU.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Projected benefit obligation$248 $55 $264 $57 
Accumulated benefit obligation248 46 264 49 
Fair value of plan assets— 20 — 20 
Defined Benefit Plan, Assumptions [Table Text Block]
Major actuarial assumptions used in determining the benefit obligations and net periodic pension cost for our defined benefit plans are presented in the following table:

  202420232022
  U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Actuarial assumptions used to determine benefit obligations as of December 31:
Discount rate5.68 %4.99 %5.10 %5.88 %5.40 %5.31 %
Rate of compensation increase3.00 %3.37 %3.00 %3.40 %3.00 %3.36 %
Actuarial assumptions used to determine net periodic pension cost for years ended December 31:
Discount rate (a)5.10 %5.88 %5.40 %5.31 %2.90 %2.59 %
Expected long-term rate of return on plan assets (a)7.00 %3.79 %6.50 %3.83 %6.00 %3.66 %
Rate of compensation increase3.00 %3.40 %3.00 %3.36 %3.00 %2.92 %
(a) Represents the weighted average rate for the U.S. qualified plans in 2021 due to the spin-off remeasurement.
Effect Of A 25 Basis Point Decrease On Net Pension Expense [Table Text Block]
The following illustrates the effect on pension expense for 2025 of a 25 basis point decrease in the above assumptions: 

In millions2025
Expense (Income):
Discount rate$14 
Expected long-term rate of return on plan assets20 
Projected Future Pension Benefit Payments, Excluding Any Termination Benefits [Table Text Block]
At December 31, 2024, projected future pension benefit payments, excluding any termination benefits, were as follows: 

In millions  
2025$663 
2026638 
2027639 
2028638 
2029637 
2030-20343,135 
v3.25.0.1
Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]  
Components Of Postretirement Benefit Expense [Table Text Block]
Net periodic pension expense for qualified and nonqualified U.S. and non-U.S. defined benefit plans comprised the following:

  202420232022
In millionsU.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Service cost$53 $3 $48 $4 $85 $3 
Interest cost447 3 459 3 338 2 
Expected return on plan assets(593)— (530)(1)(649)(1)
Actuarial loss (gain)78 — 93 (1)87 1 
Amortization of prior service cost13 — 23 — 23 — 
Special termination benefits3 — 1 — — — 
Net periodic pension (income) expense$1 $6 $94 $5 $(116)$5 
Other Postretirement Benefits Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Components Of Postretirement Benefit Expense [Table Text Block]
The components of postretirement benefit expense in 2024, 2023 and 2022 were as follows: 

In millions202420232022
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Interest cost$6 $— $7 $— $5 $— 
Actuarial loss1 — — — 3 — 
Net postretirement expense$7 $— $7 $— $8 $— 
Discount Rates Used To Determine Net Cost [Table Text Block]
The discount rates used to determine net U.S. and non-U.S. postretirement benefit cost for the years ended December 31, 2024, 2023 and 2022 were as follows: 

202420232022
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Discount rate5.20 %6.10 %5.50 %5.70 %2.90 %5.20 %
The weighted average assumptions used to determine the benefit obligation at December 31, 2024 and 2023 were as follows: 

20242023
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Discount rate5.67 %5.70 %5.20 %6.10 %
Health care cost trend rate assumed for next year6.75 %4.00 %7.00 %4.00 %
Rate that the cost trend rate gradually declines to5.00 %4.00 %5.00 %4.00 %
Year that the rate reaches the rate it is assumed to remain2032202420322023
Changes In Postretirement Benefit Obligation, Plan Assets, Funded Status And Amounts Recognized In Balance Sheet And Accumulated Other Comprehensive (Loss) Income [Table Text Block]
The plans are only funded in an amount equal to benefits paid. The following table presents the changes in benefit obligation and plan assets for 2024 and 2023: 

In millions20242023
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Change in projected benefit obligation:
Benefit obligation, January 1$118 $4 $125 $4 
Interest cost6 — 7 — 
Participants’ contributions1 1 2 — 
Actuarial (gain) loss15 (1)8 — 
Benefits paid(22)— (24)— 
Benefit obligation, December 31$118 $4 $118 $4 
Change in plan assets:
Fair value of plan assets, January 1$— $— $— $— 
Company contributions21 — 22 — 
Participants’ contributions1 — 2 — 
Benefits paid(22)— (24)— 
Fair value of plan assets, December 31$— $— $— $— 
Funded status, December 31$(118)$(4)$(118)$(4)
Amounts recognized in the consolidated balance sheet under ASC 715:
Current liability$(14)$— $(13)$— 
Non-current liability(104)(4)(105)(4)
 $(118)$(4)$(118)$(4)
Amounts recognized in accumulated other comprehensive income (loss) under ASC 715 (pre-tax):
Net actuarial loss (gain)$16 $(2)$2 $(1)
 $16 $(2)$2 $(1)
Postretirement Benefit Adjustments Recognized In Other Comprehensive (Loss) Income [Table Text Block]
The components of the $14 million and ($1) million change in the amounts recognized in OCI during 2024 for U.S. and non-U.S. plans, respectively, consisted of: 

In millionsU.S.
Plans		Non-
U.S.
Plans
Current year actuarial (gain) loss$15 $(1)
Amortization of actuarial (loss) gain(1)— 
 $14 $(1)
Estimated Total Future Postretirement Benefit Payments, Net Of Participant Contributions And Estimated Future Medicare Part D Subsidy Receipts [Table Text Block]
At December 31, 2024, estimated total future postretirement benefit payments, net of participant contributions and estimated future Medicare Part D subsidy receipts, were as follows: 

In millionsBenefit
Payments		Subsidy ReceiptsBenefit
Payments
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
2025$14 $1 $— 
202614 1 — 
202713 1 — 
202812 1 — 
202911 1 — 
2030– 203447 2 1 
v3.25.0.1
Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement, Additional Disclosure [Abstract]  
Assumptions Used To Determine Compensation Cost For Market Condition Component Of Performance Share Program [Table Text Block]
The following table sets forth the assumptions used to determine compensation cost for the market condition component of the LTIP plan: 

  Twelve Months Ended December 31, 2024
Expected volatility
27.09% - 37.11%
Risk-free interest rate
0.97% - 4.79%
Summary Of Performance Restricted Share Activity [Table Text Block]
The following summarizes LTIP activity for the three years ended December 31, 2024: 

Share/UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20215,926,142 $35.43 
Granted1,899,211 50.32 
Shares issued(1,130,236)40.23 
Forfeited(1,382,637)42.03 
Outstanding at December 31, 20225,312,480 38.01 
Granted - LTIP PSU1,619,481 37.78 
Granted - LTIP RSU1,411,042 34.63 
Shares issued - LTIP PSU(972,563)40.44 
Shares issued - LTIP RSU(15,161)34.63 
Forfeited(1,234,328)45.38 
Outstanding at December 31, 20236,120,951 35.31 
Granted - LTIP PSU2,039,725 35.28 
Granted - LTIP RSU1,414,316 36.15 
Shares issued - LTIP PSU(851,962)53.32 
Shares issued - LTIP RSU(446,582)34.63 
Shares issued - LTIP RSU(8,060)36.15 
Forfeited(1,350,063)45.58 
Outstanding at December 31, 20246,918,325 $31.29 
Summary Of Activity Of Executive Continuity And Restricted Stock Award Program [Table Text Block]
The following summarizes the activity of the RA Program for the three years ended December 31, 2024: 

SharesWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2021103,769 $49.03 
Granted132,200 43.38 
Shares issued(104,177)44.53 
Forfeited(5,400)47.78 
Outstanding at December 31, 2022126,392 46.88 
Granted123,454 35.51 
Shares issued(81,629)45.40 
Forfeited(11,643)39.77 
Outstanding at December 31, 2023156,574 39.22 
Granted115,200 43.26 
Shares issued(85,236)37.53 
Forfeited(6,700)38.30 
Outstanding at December 31, 2024179,838 $42.64 
Stock-Based Compensation Expense And Related Income Tax Benefits [Table Text Block]
Stock-based compensation expense and related income tax benefits were as follows:

In millions202420232022
Total stock-based compensation expense (included in selling and administrative expense)$82 $58 $124 
Income tax benefits related to stock-based compensation14 12 13 
v3.25.0.1
Financial Information By Business Segment And Geographic Area (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting, Measurement Disclosures [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]
In millionsIndustrial PackagingGlobal Cellulose FibersTotal
Net Sales$15,534 $2,793 $18,327 
Corporate and Intrasegment Sales292 
Total Net Sales18,619 
Less:
Cost of products sold10,985 1,983 
Selling and administrative expenses1,451 262 
Depreciation and amortization 850 450 
Distribution expenses1,179 295 
Other segment items (a)118 29 
Business Segment Operating Profit (Losses)951 (226)725 
Interest Expense, net208 
Adjustment for less than wholly owned subsidiaries (b)(5)
Corporate expenses, net44 
Corporate net special items251 
Business net special items122 
Non-operating pension (income) expense(42)
Earnings (losses) from continuing operations before income taxes and equity earnings (losses)$147 
2023:
In millionsIndustrial PackagingGlobal Cellulose FibersTotal
Net Sales$15,596 $2,890 $18,486 
Corporate and Intrasegment Sales430 
Total Net Sales18,916 
Less:
Cost of products sold11,093 2,121 
Selling and administrative expenses1,078 211 
Depreciation and amortization1,144 286 
Distribution expenses1,240 335 
Other segment items (a)122 29 
Business Segment Operating Profit (Losses)919 (92)827 
Interest Expense, net231 
Adjustment for less than wholly owned subsidiaries (b)(2)
Corporate expenses, net27 
Corporate net special items28 
Business net special items107 
Non-operating pension (income) expense54 
Earnings (losses) from continuing operations before income taxes and equity earnings (losses)$382 


2022:
In millionsIndustrial PackagingGlobal Cellulose FibersTotal
Net Sales$17,451 $3,227 $20,678 
Corporate and Intrasegment Sales483 
Total Net Sales21,161 
Less:
Cost of products sold12,509 2,183 
Selling and administrative expenses983 189 
Depreciation and amortization783 255 
Distribution expenses1,315 468 
Other segment items (a)119 26 
Business Segment Operating Profit (Losses)1,742 106 1,848 
Interest Expense, net325 
Adjustment for less than wholly owned subsidiaries (b)(5)
Corporate expenses, net34 
Corporate net special items99 
Business net special items76 
Non-operating pension (income) expense(192)
Earnings (losses) from continuing operations before income taxes and equity earnings (losses)$1,511 
Reconciliation of Assets from Segment to Consolidated [Table Text Block]
Assets
In millions20242023
Industrial Packaging$15,805 $16,060 
Global Cellulose Fibers2,857 3,369 
Corporate and other 4,138 3,832 
Assets$22,800 $23,261 
Reconciliation of Capital Spending from Segment to Consolidated [Table Text Block]
Capital Spending
In millions202420232022
Industrial Packaging$763 $928 $762 
Global Cellulose Fibers133 177 143 
Subtotal896 1,105 905 
Corporate and other25 36 26 
Capital Spending$921 $1,141 $931 
Revenue from External Customers by Products and Services [Table Text Block]
External Sales By Major Product 
In millions202420232022
Industrial Packaging$15,533 $15,596 $17,441 
Global Cellulose Fibers2,784 2,883 3,219 
Other 302 437 501 
Net Sales$18,619 $18,916 $21,161 
Revenue from External Customers by Geographic Areas [Table Text Block]
Net Sales (c)
In millions202420232022
United States (d)$16,300 $16,340 $18,482 
EMEA1,432 1,494 1,693 
Pacific Rim and Asia157 261 123 
Americas, other than U.S.730 821 863 
Net Sales$18,619 $18,916 $21,161 
Long-lived Assets by Geographic Areas [Table Text Block]
Long-Lived Assets (e)
In millions20242023
United States$8,617 $9,021 
EMEA706 757 
Americas, other than U.S.352 390 
Long-Lived Assets$9,675 $10,168 
v3.25.0.1
Revenue Recognition Disaggregaton of Revenue Table (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Net sales [1],[2] $ 18,619 $ 18,916 $ 21,161
Corporate & Intersegment      
Disaggregation of Revenue [Line Items]      
Net sales [1] 292 430 483
Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [1] 18,327 18,486 20,678
Consolidation, Eliminations      
Disaggregation of Revenue [Line Items]      
Net sales [2] 292 430 483
Corporate and other      
Disaggregation of Revenue [Line Items]      
Net sales (114) (95) (132)
North American Industrial Packaging      
Disaggregation of Revenue [Line Items]      
Net sales 14,293 14,293 16,011
EMEA Industrial Packaging      
Disaggregation of Revenue [Line Items]      
Net sales 1,355 1,398 1,572
Global Cellulose Fibers      
Disaggregation of Revenue [Line Items]      
Net sales 2,793 2,890 3,227
Industrial Packaging | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [1] 15,534 15,596 17,451
Industrial Packaging | Reportable Geographical Components [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [2] 15,534 15,596 17,451
Industrial Packaging | Corporate and other      
Disaggregation of Revenue [Line Items]      
Net sales (114) (95) (132)
Industrial Packaging | North American Industrial Packaging      
Disaggregation of Revenue [Line Items]      
Net sales 14,293 14,293 16,011
Industrial Packaging | EMEA Industrial Packaging      
Disaggregation of Revenue [Line Items]      
Net sales 1,355 1,398 1,572
Global Cellulose Fibers | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [1] 2,793 2,890 3,227
Global Cellulose Fibers | Reportable Geographical Components [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [2] 2,793 2,890 3,227
Global Cellulose Fibers | Global Cellulose Fibers      
Disaggregation of Revenue [Line Items]      
Net sales 2,793 2,890 3,227
United States      
Disaggregation of Revenue [Line Items]      
Net sales [1],[2],[3] 16,300 16,340 18,482
United States | Consolidation, Eliminations      
Disaggregation of Revenue [Line Items]      
Net sales [2] 291 430 480
United States | Industrial Packaging      
Disaggregation of Revenue [Line Items]      
Net sales [2] 13,386 13,340 14,970
United States | Global Cellulose Fibers      
Disaggregation of Revenue [Line Items]      
Net sales [2] 2,623 2,570 3,032
EMEA      
Disaggregation of Revenue [Line Items]      
Net sales [1],[2] 1,432 1,494 1,693
EMEA | Consolidation, Eliminations      
Disaggregation of Revenue [Line Items]      
Net sales [2] 0 0 0
EMEA | Industrial Packaging      
Disaggregation of Revenue [Line Items]      
Net sales [2] 1,355 1,398 1,572
EMEA | Global Cellulose Fibers      
Disaggregation of Revenue [Line Items]      
Net sales [2] 77 96 121
Pacific Rim and Asia      
Disaggregation of Revenue [Line Items]      
Net sales [2] 157 261 123
Pacific Rim and Asia | Consolidation, Eliminations      
Disaggregation of Revenue [Line Items]      
Net sales [2] 1 0 3
Pacific Rim and Asia | Industrial Packaging      
Disaggregation of Revenue [Line Items]      
Net sales [2] 63 37 46
Pacific Rim and Asia | Global Cellulose Fibers      
Disaggregation of Revenue [Line Items]      
Net sales [2] 93 224 74
Americas, other than U.S.      
Disaggregation of Revenue [Line Items]      
Net sales [1],[2] 730 821 863
Americas, other than U.S. | Consolidation, Eliminations      
Disaggregation of Revenue [Line Items]      
Net sales [2] 0 0 0
Americas, other than U.S. | Industrial Packaging      
Disaggregation of Revenue [Line Items]      
Net sales [2] 730 821 863
Americas, other than U.S. | Global Cellulose Fibers      
Disaggregation of Revenue [Line Items]      
Net sales [2] $ 0 $ 0 $ 0
[1] Net sales are attributed to countries based on the location of the seller.
[2] Net sales are attributed to countries based on the location of the reportable segment making the sale.
[3] Export sales to unaffiliated customers were $2.9 billion in 2024, $2.7 billion in 2023 and $3.2 billion in 2022.
v3.25.0.1
Revenue Recognition Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Apr. 01, 2021
Revenue Recognition and Deferred Revenue [Abstract]      
Contract with customer, liability, current $ 30 $ 32  
Contract with Customer, Liability $ 84 $ 92 $ 115
v3.25.0.1
(Reconciliation Of Earnings Per Share) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings (loss) from continuing operations attributable to International Paper common shareholders $ 557 $ 302 $ 1,741
Weighted average common shares outstanding 347.2 346.9 363.5
Effect of dilutive securities: 7.0 2.2 3.5
Weighted average common shares outstanding  – assuming dilution 354.2 349.1 367.0
Basic earnings (loss) per share from continuing operations $ 1.60 $ 0.87 $ 4.79
Diluted earnings (loss) per share from continuing operations $ 1.57 $ 0.86 $ 4.74
v3.25.0.1
(Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss $ (1,722) $ (1,565) $ (1,925)  
Amounts reclassified from accumulated other comprehensive loss (69) (603) (98)  
Defined Benefit Pension and Postretirement Adjustments        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss (1,312) (1,276) (1,195) $ (962)
Other comprehensive income (loss) before reclassifications (105) (167) (319)  
Amounts reclassified from accumulated other comprehensive loss 69 86 86  
Change in Cumulative Foreign Currency Translation Adjustments        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss (402) (281) (722) (694)
Other comprehensive income (loss) before reclassifications (121) (76) (38)  
Amounts reclassified from accumulated other comprehensive loss 0 517 10  
Net Gains and Losses on Cash Flow Hedging Derivatives        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss (8) (8) (8) $ (10)
Amounts reclassified from accumulated other comprehensive loss $ 0 $ 0 $ 2  
v3.25.0.1
(Schedule of Reclassifications Out of Accumulated Other Comprehensive Income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
EARNINGS (LOSS) FROM CONTINUING OPERATIONS $ (557) $ (302) $ (1,741)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (69) (603) (98)
Prior-service costs      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax [1] (13) (23) (23)
Actuarial gains/(losses)      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax [1] (78) (92) (91)
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax (91) (115) (114)
Reclassification from AOCI, Current Period, Tax 22 29 28
EARNINGS (LOSS) FROM CONTINUING OPERATIONS (69) (86) (86)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 69 86 86
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax [2] 0 (517) (10)
Reclassification from AOCI, Current Period, Tax 0 0 0
EARNINGS (LOSS) FROM CONTINUING OPERATIONS 0 (517) (10)
Change in Cumulative Foreign Currency Translation Adjustments      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 0 517 10
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member]      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax 0 0 (3)
Reclassification from AOCI, Current Period, Tax 0 0 1
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | Cash Flow Hedging [Member]      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax 0 0 (3)
Net Gains and Losses on Cash Flow Hedging Derivatives      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from AOCI, Current Period, Tax 0 0 (2)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax $ 0 $ 0 $ 2
[1] These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note 17 - Retirement Plans for additional details).
[2] See Note 10 - Equity Method Investments for additional details for 2023 amounts.
v3.25.0.1
(Restructuring and Related Costs Tables) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]      
Restructuring and other charges, net $ (221) $ (99) $ (89)
Restructuring and other charges, net 221 99 89
Early debt extinguishment costs (see Note 13)      
Restructuring Cost and Reserve [Line Items]      
Restructuring and other charges, net     (93)
Other Restructuring [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring and other charges, net (3)   $ (4)
Building a Better IP | Employee Severance      
Restructuring Cost and Reserve [Line Items]      
Restructuring and other charges, net [1]   (19)  
Orange, Texas mill      
Restructuring Cost and Reserve [Line Items]      
Severance costs   25  
Inventory Write-down   30  
Restructuring and other charges, net   26  
Orange, Texas mill | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Restructuring and other charges, net [2]   (81)  
Pensacola Mill and Riegelwood Mill      
Restructuring Cost and Reserve [Line Items]      
Severance costs   21  
Inventory Write-down   12  
Restructuring and other charges, net   4  
Pensacola Mill and Riegelwood Mill | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Restructuring and other charges, net [3]   $ (37)  
Georgetown, South Carolina mill      
Restructuring Cost and Reserve [Line Items]      
Severance costs 39    
Inventory Write-down 34    
Restructuring and other charges, net 46    
Georgetown, South Carolina mill | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Restructuring and other charges, net [4] (119)    
80/20 Strategic Approach | Corporate Segment      
Restructuring Cost and Reserve [Line Items]      
Severance costs 61    
80/20 Strategic Approach | Industrial Packaging      
Restructuring Cost and Reserve [Line Items]      
Severance costs 42    
80/20 Strategic Approach | Global Cellulose Fibers      
Restructuring Cost and Reserve [Line Items]      
Severance costs 2    
80/20 Strategic Approach | Employee Severance      
Restructuring Cost and Reserve [Line Items]      
Restructuring and other charges, net [5] $ (105)    
[1]
(c) Revision of severance estimates related to our Building a Better IP initiative.
[2]
(a) Includes $25 million of severance charges, $30 million of inventory charges and $26 million of other costs associated with the closure of our containerboard mill in Orange, Texas. The majority of the severance charges were paid in 2024.
[3]
(b) Includes $21 million of severance charges, $12 million of inventory charges and $4 million of other costs associated with the permanent shutdown of pulp machines at our Riegelwood, North Carolina and Pensacola, Florida mills. The majority of the severance charges were paid in 2024.
[4] b) Includes $39 million of severance charges recorded in Accrued payroll and benefits in the accompanying consolidated balance sheet, $34 million of inventory charges recorded in Inventories in the accompanying consolidated balance sheet and $46 million of other costs recorded in Other current liabilities and Other Liabilities in the accompanying consolidated balance sheet, associated with the permanent closure of our Georgetown, South Carolina mill. The majority of the severance charges will be paid in 2025.
[5]
(a) Severance and other costs related to the resource alignment component of our 80/20 strategic approach. These severance and other costs include $61 million, $42 million and $2 million in the Corporate, Industrial Packaging and Global Cellulose Fibers segments, respectively. The severance charges are recorded in Accrued payroll and benefits and Other Liabilities in the accompanying consolidated balance sheet. The majority of these charges will be paid in 2025.
v3.25.0.1
Restructuring Charges and Other Items (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring and Related Activities [Abstract]      
Restructuring and other charges, net $ 221 $ 99 $ 89
v3.25.0.1
Acquisitions (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
Jan. 31, 2025
Dec. 31, 2024
Business Acquisition [Line Items]    
Business Acquisition, Transaction Costs   $ 86
Subsequent Event [Member]    
Business Acquisition [Line Items]    
Business Combination, Price of Acquisition, Expected $ 9,900  
Stock Issued During Period, Shares, Acquisitions 0.1285  
DS Smith | Subsequent Event [Member]    
Business Acquisition [Line Items]    
Business Acquisition, Share Price $ 55.63  
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares 178,126,631  
Business Acquisition, Percentage of Voting Interests Acquired 34.10%  
v3.25.0.1
(Accounts And Notes Receivable) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts and notes receivable $ 2,966 $ 3,059
Trade Accounts Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts and notes receivable 2,703 2,841
Other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts and notes receivable $ 263 $ 218
v3.25.0.1
(Inventories By Major Category) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Disclosure Text Block Supplement [Abstract]    
Raw materials $ 188 $ 229
Finished pulp and packaging products 934 975
Operating supplies 623 622
Other 39 63
Inventories $ 1,784 $ 1,889
v3.25.0.1
(Supplier Finance Obligations) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure Text Block Supplement [Abstract]      
Supplier Finance Program, Obligation, Addition $ 516 $ 594  
Supplier Finance Program, Obligation, Settlement (523) (594)  
Supplier Finance Program, Obligation $ 115 $ 122 $ 122
v3.25.0.1
(Plants, Properties And Equipment By Major Classification) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Gross cost $ 29,280 $ 29,711
Less: Accumulated depreciation 19,622 19,561
Plants, properties and equipment, net 9,658 10,150
Pulp and packaging facilities    
Property, Plant and Equipment [Line Items]    
Gross cost 28,249 28,661
Other properties and equipment    
Property, Plant and Equipment [Line Items]    
Gross cost $ 1,031 $ 1,050
v3.25.0.1
(Schedule Of Interest Income And Interest Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure Text Block Supplement [Abstract]      
Interest expense $ 430 $ 421 $ 403
Interest income 222 190 78
Capitalized interest costs $ 21 $ 22 $ 18
v3.25.0.1
Supplementary Financial Statement Information (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Temporary Investments $ 990,000,000 $ 950,000,000  
Percentage of inventories valued using last-in, first-out inventory method 81.00%    
Excess of replacement or current costs over stated LIFO value $ 336,000,000 343,000,000  
Accounts Payable, Other 110,000,000 141,000,000 $ 185,000,000
Restructuring and related cost, accelerated depreciation 233,000,000 422,000,000  
Depreciation expense 1,300,000,000 1,400,000,000 996,000,000
Interest payments 437,000,000 463,000,000 $ 380,000,000
Asset retirement obligation 128,000,000 103,000,000  
Accounts Receivable, Allowance for Credit Loss, Current $ 30,000,000 $ 34,000,000  
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] Accounts payable Accounts payable  
Building [Member] | Minimum [Member]      
Property, plant and equipment, useful life 20 years    
Building [Member] | Maximum [Member]      
Property, plant and equipment, useful life 40 years    
Machinery and Equipment [Member] | Minimum [Member]      
Property, plant and equipment, useful life 3 years    
Machinery and Equipment [Member] | Maximum [Member]      
Property, plant and equipment, useful life 20 years    
v3.25.0.1
Leases (Schedule of Lease Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease costs, net $ 188 $ 177 $ 153
Variable lease costs 52 39 39
Short-term lease costs, net 74 71 57
Amortization of lease assets 11 12 11
Interest on lease liabilities 3 3 3
Total lease cost, net $ 328 $ 302 $ 263
v3.25.0.1
Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating lease, right-of-use asset $ 433 $ 448
Finance lease, right-of-use asset [1] 39 47
Total leased assets 472 495
Operating lease, liability, current 156 153
Finance lease, liability, current 11 11
Operating lease, liability, noncurrent 292 312
Finance lease, liability, noncurrent 38 44
Total lease liabilities 497 520
Operating lease, liability, current 156 153
Finance lease, liability, current 11 11
Finance lease, right-of-use asset [1] 39 47
Finance lease, liability, noncurrent $ 38 $ 44
Finance Leased Asset, Type [Extensible Enumeration] Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-Term Debt Long-Term Debt
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other Accrued Liabilities, Current Other Accrued Liabilities, Current
Debt, Current [Abstract] Debt, Current Debt, Current
[1] Finance leases are recorded net of accumulated amortization of $70 million and $67 million at December 31, 2024 and 2023, respectively.
v3.25.0.1
Leases (Supplemental Balance Sheet Information Related to Leases Footnotes) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Finance Lease, Right-of-Use Asset, Accumulated Amortization $ 70 $ 67
v3.25.0.1
Leases (Schedule of Lease Terms and Discount Rates Related to Leases) (Details)
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating lease, weighted average remaining lease term 3 years 7 months 6 days 4 years
Finance lease, weighted average remaining lease term 7 years 2 months 12 days 7 years 8 months 12 days
Operating lease, weighted average discount rate, percent 4.34% 3.99%
Finance lease, weighted average discount rate, percent 4.93% 4.78%
v3.25.0.1
Leases (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating cash flows related to operating leases $ 202 $ 180 $ 160
Finance Lease, Interest Payment on Liability 3 3 3
Financing cash flows related to finance leases 9 13 10
Right of use asset obtained in exchange for operating lease liability 185 216 221
Right of use asset obtained in exchange for finance lease liability $ 6 $ 12 $ 6
v3.25.0.1
Leases (Schedule of Maturities of Operating and Financing Leases) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Lessee, operating lease, liability, payments, due next twelve months $ 175  
Finance lease, liability, payments, due next twelve months 13  
Lease liability, payments, due next twelve months 188  
Lessee, operating lease, liability, payments, due year two 133  
Finance lease, liability, payments, due year two 12  
Lease liability, payments, due year two 145  
Lessee, operating lease, liability, payments, due year three 94  
Finance lease, liability, payments, due year three 10  
Lease liability, payments due, year three 104  
Lessee, operating lease, liability, payments, due year four 49  
Finance lease, liability, payments, due year four 8  
Lease liability, payments, due year four 57  
Lessee, operating lease, liability, payments, due year five 21  
Finance lease, liability, payments, due year five 7  
Lease liability, payments, due year five 28  
Lessee, operating lease, liability, payments, due after year five 21  
Finance lease, liability, payments, due after year five 13  
Lease liability payments, due after year five 34  
Operating lease, liability, payment, due 493  
Finance lease, liability, payment, due 63  
Lease liability, payments, total 556  
Lessee, operating lease, liability, undiscounted excess amount 45  
Lessee, finance lease, liability, undiscounted excess amount 14  
Lease liability, undiscounted excess amount 59  
Operating lease liability 448  
Finance lease liability 49 $ 55
Total lease liabilities $ 497 $ 520
v3.25.0.1
Leases (Narrative) (Details)
 12 Months Ended
Dec. 31, 2024
Maximum [Member]  
Lessee, operating and financing leases, remaining lease term 29 years
v3.25.0.1
EQUITY METHOD INVESTMENTS Summarized Financial Information of Equity Method Investees (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]      
Equity earnings (loss), net of taxes $ (5) $ (21) $ (6)
Income tax provision (benefit) (415) 59 (236)
Discontinued operations, net of taxes 0 (14) (237)
Equity method dividends received $ 0 13 204
Reportable Subsegments [Member] | Ilim Holding [Member]      
Schedule of Equity Method Investments [Line Items]      
Equity earnings (loss), net of taxes   112 296
Equity Method Investment, Other-than-Temporary Impairment   135 533
Income tax provision (benefit)   (9) 0
Discontinued operations, net of taxes [1]   (14) (237)
Equity method dividends received   $ 13 $ 204
[1] Discontinued operations, net of tax is Equity Earnings less Impairment Charges and Tax Expense (Benefit).
v3.25.0.1
Equity Method Investments (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]      
Equity earnings (loss), net of taxes $ (5) $ (21) $ (6)
Equity method dividends received $ 0 13 204
Ilim Holding [Member]      
Schedule of Equity Method Investments [Line Items]      
Equity Method Investment Agreed Sales Price   484  
Ilim JSC Group      
Schedule of Equity Method Investments [Line Items]      
Equity Method Investment Agreed Sales Price   $ 24  
Reportable Subsegments [Member] | Ilim Holding [Member]      
Schedule of Equity Method Investments [Line Items]      
Percentage of equity interest   50.00%  
Equity earnings (loss), net of taxes   $ 112 296
Equity method dividends received   13 $ 204
Divestiture, Transaction Costs   36  
Other comprehensive income (loss), foreign currency transaction and translation adjustment, before tax   $ 517  
Reportable Subsegments [Member] | Ilim JSC Group      
Schedule of Equity Method Investments [Line Items]      
Percentage of equity interest   2.39%  
v3.25.0.1
(Changes In Goodwill Balances) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2022
Dec. 31, 2023
Goodwill [Roll Forward]      
Goodwill, beginning balance $ 3,041    
Currency translation and other (a) [1] (3)    
Goodwill 3,462 $ 3,465 $ 3,465
Accumulated impairment losses (424) (424) (424)
Goodwill, ending balance 3,038 3,041  
EMEA Industrial Packaging      
Goodwill [Roll Forward]      
Goodwill, Impairment Loss   76  
Industrial Packaging      
Goodwill [Roll Forward]      
Goodwill, beginning balance 3,041    
Currency translation and other (a) [1] (3)    
Goodwill 3,410 3,413 3,413
Accumulated impairment losses (372) (372) (372)
Goodwill, ending balance 3,038 3,041  
Global Cellulose Fibers      
Goodwill [Roll Forward]      
Goodwill, beginning balance 0    
Currency translation and other (a) [1] 0    
Goodwill 52 52 52
Accumulated impairment losses (52) (52) $ (52)
Goodwill, ending balance $ 0 $ 0  
[1] (a) Represents the effects of foreign currency translations and reclassifications.
v3.25.0.1
(Identifiable Intangible Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 686 $ 693
Accumulated Amortization 541 510
Net Intangible Assets 145 183
Customer relationships and lists    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 489 494
Accumulated Amortization 360 335
Net Intangible Assets 129 159
Tradenames, patents and trademarks, and developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 170 170
Accumulated Amortization 162 154
Net Intangible Assets 8 16
Land and water rights    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 8 8
Accumulated Amortization 2 2
Net Intangible Assets 6 6
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 19 21
Accumulated Amortization 17 19
Net Intangible Assets $ 2 $ 2
v3.25.0.1
(Amortization Expense Of Intangible Assets) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense related to intangible assets $ 37 $ 37 $ 44
v3.25.0.1
Goodwill And Other Intangibles (Narrative) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangibles subject to amortization, estimated amortization expense, next 12 months $ 38
Intangibles subject to amortization, estimated amortization expense, year 2 29
Intangibles subject to amortization, estimated amortization expense, year 3 10
Intangibles subject to amortization, estimated amortization expense, year 4 8
Intangibles subject to amortization, estimated amortization expense, year 5 7
Intangibles subject to amortization, estimated amortization expense cumulatively thereafter $ 47
v3.25.0.1
(Schedule of Income Before Income Tax, Domestic and Foreign) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
U.S. $ (140) $ 129 $ 1,469
Non-U.S. 287 253 42
Earnings (loss) from continuing operations before income taxes and equity earnings $ 147 $ 382 $ 1,511
v3.25.0.1
(Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. federal $ (4) $ 157 $ 454
U.S. state and local 20 16 56
Non-U.S. 42 42 27
Current tax provision (benefit), total 58 215 537
U.S. federal (367) (164) (775)
U.S. state and local (98) 3 (39)
Non-U.S. (8) 5 41
Deferred income tax provision (benefit), net (473) (156) (773)
Income tax provision (benefit) $ (415) $ 59 $ (236)
v3.25.0.1
(Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Earnings (loss) from continuing operations before income taxes and equity earnings $ 147 $ 382 $ 1,511
Statutory U.S. income tax rate 21.00% 21.00% 21.00%
Tax expense (benefit) using statutory U.S. income tax rate $ 31 $ 80 $ 317
State and local income taxes (62) 2 44
Impact of rate differential on non-U.S. permanent differences and earnings (26) (10) 1
Foreign valuation allowance 0 0 45
Tax Benefit on Exchange of Sylvamo Shares 0 0 (56)
Non-taxable income (4) (2) (2)
Non-deductible business expenses 21 7 2
Non-deductible impairments 0 0 16
Non-deductible compensation 8 7 13
Tax audits 0 (4) 6
Deferred income tax provision (benefit), net 0 0 (604)
Effective Income Tax Rate Reconciliation, FDII, Amount 0 2 (8)
Effective Income Tax Rate Reconciliation, GILTI, Amount 32 0 27
Foreign tax credits 7 8 8
General business and other tax credits (31) (38) (43)
Tax expense (benefit) on equity earnings (1) (4) (1)
Legal entity restructuring expense (benefit) (391) 4 0
Other, net 1 7 (1)
Income tax provision (benefit) $ (415) $ 59 $ (236)
Effective income tax rate (282.00%) 15.00% (16.00%)
v3.25.0.1
(Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]    
Postretirement benefit accruals $ 72 $ 67
Pension obligations 63 61
Tax credits 183 182
Net operating and capital loss carryforwards 1,181 699
Compensation reserves 224 146
Lease obligations 112 116
Environmental reserves 131 114
Investments 4 0
Research and development expenditures 240 162
Other 203 157
Gross deferred income tax assets 2,413 1,704
Less: valuation allowance (a) [1] (1,201) (848)
Net deferred income tax asset 1,212 856
Intangibles (133) (141)
Investments 0 3
Right of use assets (112) (116)
Plants, properties and equipment (1,528) (1,650)
Forestlands, related installment sales, and investment in subsidiary (486) (485)
Gross deferred income tax liabilities (2,259) (2,389)
Net deferred income tax liability $ (1,047) $ (1,533)
[1] The net change in the total valuation allowance for the years ended December 31, 2024 and 2023 was an increase of $353 million and a increase of $171 million, respectively.
v3.25.0.1
Income Taxes (Schedule of Deferred Tax Assets and Liabilities Footnotes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Income Taxes [Abstract]    
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 353 $ 171
v3.25.0.1
(Schedule of Unrecognized Tax Benefits Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Balance at January 1 $ (173) $ (177) $ (166)
(Additions) reductions for tax positions related to current year (10) (13) (7)
(Additions) for tax positions related to prior years (40) (11) (10)
Reductions for tax positions related to prior years 7 1 3
Settlements 4 17 1
Expiration of statutes of limitations 6 11 1
Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation 2   1
Currency translation adjustment   (1)  
Balance at December 31 $ (204) $ (173) $ (177)
v3.25.0.1
(Summary of Operating Loss And Tax Credit Carryforwards) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Operating Loss Carryforwards [Line Items]  
Total $ 1,364
Less: valuation allowance (a) (1,119) [1]
Total, net 245
2025 Through 2034  
Operating Loss Carryforwards [Line Items]  
Total 245
Less: valuation allowance (a) (58) [1]
Total, net 187
2035 Through 2044  
Operating Loss Carryforwards [Line Items]  
Total 626
Less: valuation allowance (a) (612) [1]
Total, net 14
Indefinite  
Operating Loss Carryforwards [Line Items]  
Total 493
Less: valuation allowance (a) (449) [1]
Total, net 44
U.S. federal and non-U.S. NOLs  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 1,003
U.S. federal and non-U.S. NOLs | 2025 Through 2034  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 3
U.S. federal and non-U.S. NOLs | 2035 Through 2044  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 603
U.S. federal and non-U.S. NOLs | Indefinite  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 397
State taxing jurisdiction NOLs (a)  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 37 [1]
State taxing jurisdiction NOLs (a) | 2025 Through 2034  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 28 [1]
State taxing jurisdiction NOLs (a) | 2035 Through 2044  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 9 [1]
State taxing jurisdiction NOLs (a) | Indefinite  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 0 [1]
U.S. federal, non- U.S. and state tax credit carryforwards (a)  
Operating Loss Carryforwards [Line Items]  
Tax credit carryforwards 183 [1]
U.S. federal, non- U.S. and state tax credit carryforwards (a) | 2025 Through 2034  
Operating Loss Carryforwards [Line Items]  
Tax credit carryforwards 73 [1]
U.S. federal, non- U.S. and state tax credit carryforwards (a) | 2035 Through 2044  
Operating Loss Carryforwards [Line Items]  
Tax credit carryforwards 14 [1]
U.S. federal, non- U.S. and state tax credit carryforwards (a) | Indefinite  
Operating Loss Carryforwards [Line Items]  
Tax credit carryforwards 96 [1]
U.S Federal and State Capital Loss Carryforwards  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 141 [1]
U.S Federal and State Capital Loss Carryforwards | 2025 Through 2034  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 141 [1]
U.S Federal and State Capital Loss Carryforwards | 2035 Through 2044  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 0 [1]
U.S Federal and State Capital Loss Carryforwards | Indefinite  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards $ 0 [1]
[1]
(a) State amounts are presented net of federal benefit.
v3.25.0.1
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Contingency [Line Items]      
Deferred income tax provision (benefit) for the effect of changes in non-U.S. and U.S. state tax rates $ 1 $ (6) $ (3)
Income tax payments, net of refunds 394 340 $ 345
Accrual for the payment of estimated interest and penalties associated with unrecognized tax benefits 50 34  
Forestlands, related installment sales, and investment in subsidiary (486) $ (485)  
Undistributed earnings of foreign subsidiaries 1,100    
Investment Tax Credit 50    
Income Taxes Receivable, Noncurrent 279    
Deferred Tax Assets, Other Tax Carryforwards 137    
Tax Benefit, Internal Legal Entity Restructuring $ 416    
v3.25.0.1
Commitments And Contingent Liabilities (Narrative) (Details)
€ in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Oct. 11, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2024
USD ($)
Producers
Dec. 31, 2024
EUR (€)
Producers
Dec. 31, 2021
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2019
EUR (€)
Loss Contingencies [Line Items]                    
Liability for Asbestos and Environmental Claims, Net   $ 100 $ 97 $ 100            
Loss Contingency Accrual, Period Increase (Decrease)       6 € 6          
Liability for Asbestos and Environmental Claims, Gross   279 251 279            
Secretariat of the Federal Revenue Bureau of Brazil [Member]                    
Loss Contingencies [Line Items]                    
Loss contingency accrual   48   $ 48            
Responsible party percentage       60.00% 60.00%          
Shared Tax Assessment Payment   300   $ 300            
Responsible party percentage-Sylvamo       40.00% 40.00%          
Income tax examination, estimate of possible loss $ 210     $ 330       $ 95    
Income tax examination, penalties and interest Expense       235            
Cass Lake Minnesota [Member]                    
Loss Contingencies [Line Items]                    
Accrual for environmental loss contingencies   48 46 48            
Kalamazoo River Superfund Site [Member]                    
Loss Contingencies [Line Items]                    
Loss contingency, damages sought, value             $ 37      
Liability for Asbestos and Environmental Claims, Net   29 27 29            
Liability for Asbestos and Environmental Claims, Net, Period Increase (Decrease)   27 27              
San Jacinto River Superfund Site [Member]                    
Loss Contingencies [Line Items]                    
Liability for Asbestos and Environmental Claims, Net   98 83 $ 98            
Responsible party percentage       50.00% 50.00%          
Versailles Pond                    
Loss Contingencies [Line Items]                    
Liability for Asbestos and Environmental Claims, Net   $ 30 $ 30 $ 30            
Georgia-Pacific Consumer Products LP, Fort James Corporation and Georgia Pacific LLC Cost Recovery Action [Member] | Kalamazoo River Superfund Site [Member]                    
Loss Contingencies [Line Items]                    
Loss contingency, damages sought, value       79            
Loss contingency, damages awarded, value       $ 50            
Loss Contingencies, share of damages       15.00% 15.00%          
Italian Competition Authority [Member]                    
Loss Contingencies [Line Items]                    
Loss contingency, number of defendants | Producers       30 30          
Loss contingency accrual                 $ 31 € 29
Northern Impoundment [Member] | San Jacinto River Superfund Site [Member]                    
Loss Contingencies [Line Items]                    
Liability for Asbestos and Environmental Claims, Net, Period Increase (Decrease)           $ 55        
Southern Impoundment [Member] | San Jacinto River Superfund Site [Member]                    
Loss Contingencies [Line Items]                    
Liability for Asbestos and Environmental Claims, Net, Period Increase (Decrease)           $ 10        
v3.25.0.1
(Activity Between Company And Entities) (Details) - Two Thousand And Seven Financing Entities [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Variable Interest Entity [Line Items]      
Revenue [1] $ 152 $ 146 $ 65
Expense [2] 136 136 58
Cash receipts [3] 135 122 28
Cash payments [4] $ 130 $ 123 $ 40
[1] The revenue is included in Interest expense, net, in the accompanying consolidated statement of operations and includes approximately $19 million for the years ended December 31, 2024, 2023 and 2022, respectively, of accretion income for the amortization of the purchase accounting adjustment on the Financial assets of variable interest entities.
[2] The expense is included in Interest expense, net, in the accompanying consolidated statement of operations and includes approximately $7 million for the years ended December 31, 2024, 2023 and 2022 respectively, of accretion expense for the amortization of the purchase accounting adjustment on the Long-term nonrecourse financial liabilities of variable interest entities.
[3] The cash receipts are interest received on the Financial assets of special purpose entities.
[4] The cash payments are interest paid on Nonrecourse financial liabilities of special purpose entities.
v3.25.0.1
Variable Interest Entities (Activity Between Entities Footnotes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Variable Interest Entities [Abstract]      
Accretion Income for Amortization of Purchase Accounting Adjustment, Financial Assets $ 19 $ 19 $ 19
Accretion Expense for Amortization of Purchase Accounting Adjustment, Financial Liabiities $ 7 $ 7 $ 7
v3.25.0.1
Variable Interest Entities (Narrative) (Details)
a in Thousands, $ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Oct. 31, 2007
USD ($)
a
Dec. 31, 2021
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2006
USD ($)
a
Aug. 31, 2021
USD ($)
Dec. 31, 2007
USD ($)
Variable Interest Entity [Line Items]                
Long-term debt     $ 5,368 $ 5,455        
Long-term debt, fair value     5,200 5,500        
Deferred Income Taxes     1,072 1,552        
Deferred Income Taxes and Tax Credits     0 0 $ 604      
Two Thousand Seven Monetized Notes [Member]                
Variable Interest Entity [Line Items]                
Forestlands average sales | a 1,550              
Amount of consideration received $ 2,400   $ 2,400          
Letters of credit downgrade period of replacement     30 days          
Notes receivable, fair value disclosure     $ 2,300 2,300        
Long-term debt, fair value     2,100 2,100        
Letters of credit issued     2,400          
Long-term debt               $ 2,100
Two Thousand And Fifteen Financing Entities [Member]                
Variable Interest Entity [Line Items]                
Forestlands average sales | a           5,600    
Amount of consideration received           $ 4,800    
Financing Receivable, before Allowance for Credit Loss             $ 4,800  
Long-term debt             $ 4,200  
equity in variable interest entities attributable to parent   $ 630            
Expected cash tax payment   $ 72            
Tax Adjustments, Settlements, and Unusual Provisions       252        
Income tax examination, penalties and interest Expense         58      
Deferred Income Taxes       163        
Income Tax Examination, Interest Accrued       $ 30        
Deferred Income Taxes and Tax Credits         $ 604      
Two Thousand Seven Monetized Notes [Member]                
Variable Interest Entity [Line Items]                
Deferred tax liabilities, other     $ 486          
v3.25.0.1
(Debt Extinguishment) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Extinguishment of Debt [Line Items]      
Early debt reductions (a) [1] $ 0 $ 0 $ 503
Pre-tax early debt extinguishment costs (b) [2] $ 0 $ 0 $ 93
[1] Reductions related to notes with interest rates ranging from 4.35% to 8.70% with original maturities from 2023 to 2048 for the year ended December 31, 2022.
[2] Amounts are included in Restructuring and other charges in the accompanying consolidated statements of operations.
v3.25.0.1
Debt And Lines Of Credit (Debt Extinguishment Footnotes) (Details)
Dec. 31, 2023
Dec. 31, 2022
Minimum [Member]    
Extinguishment of Debt [Line Items]    
Debt instrument, interest rate, stated percentage 4.35% 4.35%
Maximum [Member]    
Extinguishment of Debt [Line Items]    
Debt instrument, interest rate, stated percentage 8.70% 8.70%
v3.25.0.1
(Summary Of Long-Term Debt) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 5,499 $ 5,524  
Capitalized leases 49 55  
Premiums, discounts, and debt issuance costs (39) (41)  
Terminated interest rate swaps 51 54  
Other 1 1  
Total (c) [1] 5,561 5,593  
Long-term Debt, Current Maturities 193 138  
Long-term debt 5,368 $ 5,455  
Minimum [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate, stated percentage   4.35% 4.35%
Maximum [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate, stated percentage   8.70% 8.70%
7.350% notes – due 2025      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 39 $ 39  
Debt instrument, interest rate, stated percentage 7.35% 7.35%  
Maturity date 2025    
7.750% notes – due 2025      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 22 $ 22  
Debt instrument, interest rate, stated percentage 7.75% 7.75%  
Maturity date 2025    
7.200% notes – due 2026      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 58 $ 58  
Debt instrument, interest rate, stated percentage 7.20% 7.20%  
Maturity date 2026    
6.400% notes – due 2026      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 5 $ 5  
Debt instrument, interest rate, stated percentage 6.40% 6.40%  
Maturity date 2026    
7.150% notes – due 2027      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 7 $ 7  
Debt instrument, interest rate, stated percentage 7.15% 7.15%  
Maturity date 2027    
6.875% notes – due 2029      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 10 $ 10  
Debt instrument, interest rate, stated percentage 6.875% 6.875%  
Maturity date 2029    
5.000% notes – due 2035      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 407 $ 407  
Debt instrument, interest rate, stated percentage 5.00% 5.00%  
Maturity date 2035    
6.650% notes – due 2037      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 3 $ 3  
Debt instrument, interest rate, stated percentage 6.65% 6.65%  
Maturity date 2037    
8.700% notes – due 2038      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 86 $ 86  
Debt instrument, interest rate, stated percentage 8.70% 8.70%  
Maturity date 2038    
7.300% notes – due 2039      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 453 $ 453  
Debt instrument, interest rate, stated percentage 7.30% 7.30%  
Maturity date 2039    
6.000% notes – due 2041      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 585 $ 585  
Debt instrument, interest rate, stated percentage 6.00% 6.00%  
Maturity date 2041    
4.800% notes – due 2044      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 686 $ 686  
Debt instrument, interest rate, stated percentage 4.80% 4.80%  
Maturity date 2044    
5.150% notes – due 2046      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 449 $ 449  
Debt instrument, interest rate, stated percentage 5.15% 5.15%  
Maturity date 2046    
4.400% notes – due 2047      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 647 $ 647  
Debt instrument, interest rate, stated percentage 4.40% 4.40%  
Maturity date 2047    
4.350% notes – due 2048      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 740 $ 740  
Debt instrument, interest rate, stated percentage 4.35% 4.35%  
Maturity date 2048    
Floating rate notes – due 2027 – 2030 (a)      
Debt Instrument [Line Items]      
Long-term Debt, Gross [2] $ 308 $ 308  
Environmental and industrial development bonds – due 2025 – 2031 (b)      
Debt Instrument [Line Items]      
Long-term Debt, Gross [3] $ 394 419  
Variable Rate [Domain] | Minimum [Member]      
Debt Instrument [Line Items]      
Maturity date 2027    
Variable Rate [Domain] | Maximum [Member]      
Debt Instrument [Line Items]      
Maturity date 2030    
Variable Rate Demand Obligation      
Debt Instrument [Line Items]      
Long-term Debt, Gross $ 600 $ 600  
Environmental Debt Bond | Minimum [Member]      
Debt Instrument [Line Items]      
Maturity date 2025    
Environmental Debt Bond | Maximum [Member]      
Debt Instrument [Line Items]      
Maturity date 2031    
[1] The fair market value was approximately $5.2 billion at December 31, 2024 and $5.5 billion at December 31, 2023. Debt fair value measurements use Level 2 inputs.
[2] The weighted average interest rate on these notes was 4.6% in 2024 and 5.4% in 2023.
[3] The weighted average interest rate on these bonds was 2.8% in 2024 and 2.4% in 2023.
v3.25.0.1
Debt And Lines Of Credit (Summary of Long-Term Debt Footnotes) (Details) - USD ($)
$ in Billions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Long-term debt, fair value $ 5.2 $ 5.5
Variable Rate Debt [Member]    
Debt Instrument [Line Items]    
Long-term Debt, Weighted Average Interest Rate, at Point in Time 4.60% 5.40%
Environmental and industrial development bonds – due 2025 – 2031 (b)    
Debt Instrument [Line Items]    
Long-term Debt, Weighted Average Interest Rate, at Point in Time 2.80% 2.40%
v3.25.0.1
Debt And Lines Of Credit (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule of Debt Activity [Line Items]      
Revolving credit facilities available $ 1,900    
Maturities of long-term debt, 2024 193    
Maturities of long-term debt, 2025 142    
Maturities of long-term debt, 2026 346    
Maturities of long-term debt, 2027 672    
Maturities of long-term debt, 2028 $ 18    
Debt covenant compliance, minimum debt to capital ratio 60.00%    
Debt Instrument, Covenant Description 9 billion    
Proceeds from Issuance of Commercial Paper     $ 410
Minimum [Member]      
Schedule of Debt Activity [Line Items]      
Debt instrument, interest rate, stated percentage   4.35% 4.35%
Maximum [Member]      
Schedule of Debt Activity [Line Items]      
Debt instrument, interest rate, stated percentage   8.70% 8.70%
Commercial Paper [Member]      
Schedule of Debt Activity [Line Items]      
Revolving credit facilities available $ 1,000    
Commercial Paper 0    
Revolving Credit Facility [Member]      
Schedule of Debt Activity [Line Items]      
Revolving credit facilities available 1,400 $ 1,500  
Receivables Securitization Program [Member]      
Schedule of Debt Activity [Line Items]      
Receivables securitization program 500    
Collateralized agreements, value of amount outstanding 0 0  
Other Debt Obligations [Member]      
Schedule of Debt Activity [Line Items]      
Repayments of Debt 141    
Proceeds from Issuance of Debt   600 $ 354
Environmental Debt Bond      
Schedule of Debt Activity [Line Items]      
Repayments of Debt 127    
Proceeds from Issuance of Debt 102 $ 183 $ 248
Capital Lease Obligations      
Schedule of Debt Activity [Line Items]      
Repayments of Debt $ 14    
v3.25.0.1
(Rollforward Of Common Stock Activity) (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Class of Stock [Line Items]        
Common stock, beginning balance 448,900      
Common stock, ending balance 448,900 448,900    
Treasury 101,500 102,900    
Issued        
Class of Stock [Line Items]        
Common stock, beginning balance 448,916 448,916 448,916  
Issuance of stock for various plans, net 0 0 0  
Repurchase of stock 0 0 0  
Common stock, ending balance 448,916 448,916 448,916  
Common Stock Held In Treasury, At Cost        
Class of Stock [Line Items]        
Issuance of stock for various plans, net (2,028) (1,647) (1,569)  
Repurchase of stock 648 5,894 29,839  
Treasury 101,499 102,879 98,632 70,362
v3.25.0.1
Capital Stock (Narrative) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Class of Stock [Line Items]    
Common stock, authorized shares 990,850,000 990,850,000
Common Stock, Par or Stated Value Per Share $ 1 $ 1
Cumulative Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, authorized shares 400,000 400,000
Preferred stock, dividend per share $ 4 $ 4
Preferred stock, par value (stated value) $ 100 $ 100
Serial Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, authorized shares 8,750,000 8,750,000
Preferred stock, par value (stated value) $ 1 $ 1
v3.25.0.1
(Schedule Of Net Funded Status) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. Plans      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation, January 1 $ 8,982 $ 8,816  
Service cost 53 48 $ 85
Interest cost 447 459 338
Actuarial (gain) loss (547) 225  
Plan amendments 16 26  
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment 0 0  
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement 0 0  
Benefits paid (609) (593)  
Special termination benefits 3 1 0
Effect of foreign currency exchange rate movements 0 0  
Benefit obligation, December 31 8,345 8,982 8,816
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets, January 1 8,836 8,845  
Actual return on plan assets (57) 562  
Company contributions 23 22  
Benefits paid (609) (593)  
Defined Benefit Plan, Plan Assets, Payment for Settlement 0 0  
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Assets Transferred to (from) Plan (4) 0  
Effect of foreign currency exchange rate movements 0 0  
Fair value of plan assets, December 31 8,189 8,836 8,845
Funded status, December 31 (156) (146)  
Non-U.S. Plans      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation, January 1 58 54  
Service cost 3 4 3
Interest cost 3 3 2
Actuarial (gain) loss 5 (3)  
Plan amendments 0 0  
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment (4) 0  
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement (2) 0  
Benefits paid (3) (3)  
Special termination benefits 0 0 0
Effect of foreign currency exchange rate movements (4) 3  
Benefit obligation, December 31 56 58 54
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets, January 1 20 18  
Actual return on plan assets 1 1  
Company contributions 4 3  
Benefits paid (2) (3)  
Defined Benefit Plan, Plan Assets, Payment for Settlement (2) 0  
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Assets Transferred to (from) Plan 0 0  
Effect of foreign currency exchange rate movements (1) 1  
Fair value of plan assets, December 31 20 20 $ 18
Funded status, December 31 $ (36) $ (38)  
v3.25.0.1
(Schedule Of Amounts Recognized In Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Overfunded Pension Plan Assets $ 92 $ 118
Underfunded pension benefit obligation - non-current (233) (280)
U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Overfunded Pension Plan Assets 92 118
Underfunded pension benefit obligation - current (49) (20)
Underfunded pension benefit obligation - non-current (199) (244)
Amounts recognized in the consolidated balance sheet (156) (146)
Non-U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Overfunded Pension Plan Assets 0 0
Underfunded pension benefit obligation - current (2) (2)
Underfunded pension benefit obligation - non-current (34) (36)
Amounts recognized in the consolidated balance sheet $ (36) $ (38)
v3.25.0.1
(Schedule Of Amounts In Accumulated Other Comprehensive Income) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Prior service cost (credit) $ 94 $ 91
Net actuarial loss (gain) 1,691 1,663
Amounts recognized in accumulated other comprehensive income (pre-tax) 1,785 1,754
Non-U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Prior service cost (credit) 0 0
Net actuarial loss (gain) (5) (10)
Amounts recognized in accumulated other comprehensive income (pre-tax) $ (5) $ (10)
v3.25.0.1
(Pension Benefit Adjustments Recognized In Other Comprehensive (Loss) Income) (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
U.S. Plans  
Defined Benefit Plan Disclosure [Line Items]  
Current year actuarial (gain) loss $ 106,000,000
Amortization of actuarial (loss) gain (78,000,000)
Current year prior service cost 16,000,000
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax (13,000,000)
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax 0
Total recognized in other comprehensive income 31,000,000
Non-U.S. Plans  
Defined Benefit Plan Disclosure [Line Items]  
Current year actuarial (gain) loss 0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 0
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax 4,000,000
Effect of foreign currency exchange rate movements 1,000,000
Total recognized in other comprehensive income $ 5,000,000
v3.25.0.1
(Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Projected benefit obligation $ 248 $ 264
Accumulated benefit obligation 248 264
Fair value of plan assets 0 0
Non-U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Projected benefit obligation 55 57
Accumulated benefit obligation 46 49
Fair value of plan assets $ 20 $ 20
v3.25.0.1
(Net Periodic Pension Expense For Qualified And Nonqualified U.S. Defined Benefit Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Service cost $ 53 $ 48 $ 85
Interest cost 447 459 338
Expected return on plan assets (593) (530) (649)
Actuarial loss (gain) 78 93 87
Amortization of prior service cost 13 23 23
Special termination benefits 3 1 0
Net periodic pension (income) expense 1 94 (116)
Non-U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 3 4 3
Interest cost 3 3 2
Expected return on plan assets 0 (1) (1)
Actuarial loss (gain) 0 (1) 1
Amortization of prior service cost 0 0 0
Special termination benefits 0 0 0
Net periodic pension (income) expense $ 6 $ 5 $ 5
v3.25.0.1
(Major Actuarial Assumptions Used In Determining Benefit Obligations And Net Periodic Pension Cost For Defined Benefit Plans) (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Actuarial assumptions used to determine benefit obligations, Discount rate 5.68% 5.10% 5.40%
Rate of compensation increase 3.00% 3.00% 3.00%
Discount rate [1] 5.10% 5.40% 2.90%
Expected long-term rate of return on plan assets (a) 7.00% 6.50% 6.00%
Rate of compensation increase 3.00% 3.00% 3.00%
Non-U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Actuarial assumptions used to determine benefit obligations, Discount rate 4.99% 5.88% 5.31%
Rate of compensation increase 3.37% 3.40% 3.36%
Discount rate [1] 5.88% 5.31% 2.59%
Expected long-term rate of return on plan assets (a) 3.79% 3.83% 3.66%
Rate of compensation increase 3.40% 3.36% 2.92%
[1] Represents the weighted average rate for the U.S. qualified plans in 2021 due to the spin-off remeasurement.
v3.25.0.1
(Effect Of A 25 Basis Point Decrease On Net Pension Expense) (Details) - U.S. Plans
$ in Millions
Dec. 31, 2024
USD ($)
Defined Benefit Plan Disclosure [Line Items]  
Discount rate $ 14
Expected long-term rate of return on plan assets $ 20
v3.25.0.1
(Pension Allocations By Type Of Fund And Target Allocations) (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Actual Allocation Percentage 100.00% 100.00%
Hedging assets | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Actual Allocation Percentage 62.00% 66.00%
Return seeking assets (a) | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Actual Allocation Percentage [1] 38.00% 34.00%
Real estate funds    
Defined Benefit Plan Disclosure [Line Items]    
Actual Allocation Percentage 8.00% 9.00%
Private equity    
Defined Benefit Plan Disclosure [Line Items]    
Actual Allocation Percentage 7.00% 7.00%
Minimum [Member] | Hedging assets | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocations 61  
Minimum [Member] | Return seeking assets (a) | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocations 28  
Maximum [Member] | Hedging assets    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocations 72  
Maximum [Member] | Return seeking assets (a) | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocations 39  
[1] a) Return seeking assets include Real Estate (8% for 2024 and 9% for 2023) and Private Equity (7% and 7% for 2024 and 2023, respectively).
v3.25.0.1
(Fair Values Pension Plan Assets By Asset Class) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount $ 8,189 $ 8,836 $ 8,845
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 952 884  
Significant Observable Inputs (Level 2) [Member] | U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 4,785 5,185  
Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 16 78 32
Equities      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 1,537 1,336  
Equities | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 972 835  
Equities | Significant Observable Inputs (Level 2) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 565 501  
Equities | Significant Unobservable Inputs (Level 3) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 0 0  
Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 4,227 4,691  
Fixed income | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 0 0  
Fixed income | Significant Observable Inputs (Level 2) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 4,220 4,684  
Fixed income | Significant Unobservable Inputs (Level 3) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 7 7  
Fixed income | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 7 7 7
Derivatives      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 9 71  
Derivatives | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 0 0  
Derivatives | Significant Observable Inputs (Level 2) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 0 0  
Derivatives | Significant Unobservable Inputs (Level 3) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 9 71  
Derivatives | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 9 71 $ 25
Cash and cash equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount (20) 49  
Cash and cash equivalents | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount (20) 49  
Cash and cash equivalents | Significant Observable Inputs (Level 2) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 0 0  
Cash and cash equivalents | Significant Unobservable Inputs (Level 3) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 0 0  
Hedge funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 1,148 1,293  
Private equity      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 599 644  
Real estate funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount $ 689 $ 752  
v3.25.0.1
Retirement Plans (Fair Value, Investments, Entities That Calculate Net Asset Value Per Share) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Fair value, investments, entities that calculate net Asset value per share, unfunded commitments $ 222 $ 278
Investments, fair value disclosure 2,436 2,689
Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Fair value, investments, entities that calculate net Asset value per share, unfunded commitments $ 93 $ 103
Fair value, investments, entities that calculate net asset value per share, investment redemption, frequency Quarterly to semi-annually Quarterly to semi-annually
Fair value, investments, entities that calculate net asset value per share, investment redemption, description 45 - 60 days 45 - 60 days
Defined benefit plan, plan assets, amount $ 1,148 $ 1,293
Private equity    
Defined Benefit Plan Disclosure [Line Items]    
Fair value, investments, entities that calculate net Asset value per share, unfunded commitments $ 50 $ 81
Fair value, investments, entities that calculate net asset value per share, investment redemption, frequency (a) [1] (a) [2]
Fair value, investments, entities that calculate net asset value per share, investment redemption, description None None
Defined benefit plan, plan assets, amount $ 599 $ 644
Real estate funds    
Defined Benefit Plan Disclosure [Line Items]    
Fair value, investments, entities that calculate net Asset value per share, unfunded commitments $ 79 $ 94
Fair value, investments, entities that calculate net asset value per share, investment redemption, frequency Quarterly Quarterly
Fair value, investments, entities that calculate net asset value per share, investment redemption, description 45 - 60 days 45 - 60 days
Defined benefit plan, plan assets, amount $ 689 $ 752
[1] A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.
[2] A private equity fund investment ("partnership interest") is contractually locked up for the life of the private equity fund by the partnership agreement. Limited partners do not have the option to redeem partnership interests.
v3.25.0.1
(Fair Value Measurements Using Significant Unobservable Inputs (Level 3)) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fixed income    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets, January 1 $ 4,691  
Fair value of plan assets, December 31 4,227 $ 4,691
Fixed income | Significant Unobservable Inputs (Level 3) [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets, January 1 7  
Fair value of plan assets, December 31 7 7
Derivatives    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets, January 1 71  
Fair value of plan assets, December 31 9 71
Derivatives | Significant Unobservable Inputs (Level 3) [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets, January 1 71  
Fair value of plan assets, December 31 9 71
U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets, January 1 8,836 8,845
Fair value of plan assets, December 31 8,189 8,836
U.S. Plans | Significant Unobservable Inputs (Level 3) [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets, January 1 78 32
Relating to assets still held at the reporting date (80) 57
Relating to assets sold during the period 31 48
Purchases, sales and settlements (13) (59)
Transfers in and/or out of Level 3 0 0
Fair value of plan assets, December 31 16 78
U.S. Plans | Fixed income | Significant Unobservable Inputs (Level 3) [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets, January 1 7 7
Relating to assets still held at the reporting date 0 0
Relating to assets sold during the period 0 0
Purchases, sales and settlements 0 0
Transfers in and/or out of Level 3 0 0
Fair value of plan assets, December 31 7 7
U.S. Plans | Derivatives | Significant Unobservable Inputs (Level 3) [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets, January 1 71 25
Relating to assets still held at the reporting date (80) 57
Relating to assets sold during the period 31 48
Purchases, sales and settlements (13) (59)
Transfers in and/or out of Level 3 0 0
Fair value of plan assets, December 31 $ 9 $ 71
v3.25.0.1
Retirement Plans (Projected Future Pension Benefit Payments, Excluding Any Termination Beneftis) (Details) - U.S. Plans
$ in Millions
Dec. 31, 2024
USD ($)
Defined Benefit Plan Disclosure [Line Items]  
Benefit Payments, year 1 $ 663
Benefit Payments, year 2 638
Benefit Payments, year 3 639
Benefit Payments, year 4 638
Benefit Payments, year 5 637
Benefit Payments, year 6-10 $ 3,135
v3.25.0.1
Retirement Plans (Narrative) (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
plan
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Defined Benefit Plan Disclosure [Line Items]      
Change in basis point for assumptions for next year 25.00%    
Defined contribution plan, cost recognized $ 177,000,000 $ 160,000,000 $ 159,000,000
Number of nonqualified pension plans | plan 2    
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Benefits paid $ (609,000,000) $ (593,000,000)  
Expected future benefit payment, next twelve months $ 663,000,000    
Actuarial assumptions used to determine benefit obligations, Discount rate 5.68% 5.10% 5.40%
Total recognized in other comprehensive income $ 31,000,000    
Amount recognized in net periodic benefit cost (credit) and other comprehensive (income) loss, before tax 32,000,000 $ 197,000,000 $ 474,000,000
Accumulated benefit obligation for defined benefit plans $ 8,300,000,000 9,000,000,000.0  
Expected long term return on assets for next year 7.00%    
Expected discount rate for next year 5.68%    
Rate of compensation increase 3.00%    
Expected benefit cost estimate for next fiscal year $ 36,000,000    
Defined benefit expense 1,000,000 94,000,000 $ (116,000,000)
Non-U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Benefits paid $ (2,000,000) $ (3,000,000)  
Actuarial assumptions used to determine benefit obligations, Discount rate 4.99% 5.88% 5.31%
Total recognized in other comprehensive income $ 5,000,000    
Amount recognized in net periodic benefit cost (credit) and other comprehensive (income) loss, before tax 11,000,000 $ 2,000,000 $ (6,000,000)
Accumulated benefit obligation for defined benefit plans 46,000,000 49,000,000  
Defined benefit expense 6,000,000 5,000,000 5,000,000
Supplemental Employee Retirement Plan, Defined Benefit      
Defined Benefit Plan Disclosure [Line Items]      
Benefits paid (23,000,000) $ (22,000,000) $ (29,000,000)
Expected future benefit payment, next twelve months $ 49,000,000    
v3.25.0.1
Retirement Plans (Fair Value, Derivatives, Entities That Calculate Net Asset Value Per Share) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivatives    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit plan, plan assets, amount $ 9 $ 71
Derivatives | Collateralized Securities    
Defined Benefit Plan Disclosure [Line Items]    
Derivative Asset 17 7
Derivative Holdings Gross Liabilities (1) 7
Derivative Holdings, Net 16 0
Derivatives | Credit Default Swap    
Defined Benefit Plan Disclosure [Line Items]    
Derivative Asset 3 2
Derivative Holdings Gross Liabilities 0 0
Derivative Holdings, Net 3 2
Derivatives | Interest Rate Swap    
Defined Benefit Plan Disclosure [Line Items]    
Derivative Asset 7 4
Derivative Holdings Gross Liabilities 0 0
Derivative Holdings, Net 7 4
Derivatives | Equity Swap    
Defined Benefit Plan Disclosure [Line Items]    
Derivative Asset 0 65
Derivative Holdings Gross Liabilities (17) 0
Derivative Holdings, Net (17) 65
Derivatives | Significant Unobservable Inputs (Level 3) [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit plan, plan assets, amount 9 71
Derivative Financial Instruments, Liabilities    
Defined Benefit Plan Disclosure [Line Items]    
Derivative Holdings Gross Liabilities (18) (7)
Derivative Financial Instruments, Assets    
Defined Benefit Plan Disclosure [Line Items]    
Derivative Asset $ 27 $ 78
v3.25.0.1
(Components Of Postretirement Benefit Expense) (Details) - Other Postretirement Benefits Plan [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Interest cost $ 6 $ 7 $ 5
Actuarial loss (gain) 1 0 3
Net periodic pension (income) expense 7 7 8
Non-U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Interest cost 0 0 0
Actuarial loss (gain) 0 0 0
Net periodic pension (income) expense $ 0 $ 0 $ 0
v3.25.0.1
Postretirement Benefits (Discount Rates Used To Determine Net Cost Other) (Details) - Other Postretirement Benefits Plan [Member]
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Non-U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 6.10% 5.70% 5.20%
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 5.20% 5.50% 2.90%
v3.25.0.1
(Weighted Average Assumptions Used To Determine Benefit Obligation) (Details) - Other Postretirement Benefits Plan [Member]
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate 5.67% 5.20%
Health care cost trend rate assumed for next year 6.75% 7.00%
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 2032 2032
Non-U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate 5.70% 6.10%
Health care cost trend rate assumed for next year 4.00% 4.00%
Rate that the cost trend rate gradually declines to 4.00% 4.00%
Year that the rate reaches the rate it is assumed to remain 2024 2023
v3.25.0.1
(Changes In Postretirement Benefit Obligation, Plan Assets, Funded Status And Amounts Recognized In Balance Sheet And Accumulated Other Comprehensive (Loss) Income) (Details) - Other Postretirement Benefits Plan [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. Plans      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation, January 1 $ 118 $ 125  
Interest cost 6 7 $ 5
Participants’ contributions 1 2  
Actuarial (gain) loss 15 8  
Benefits paid 22 24  
Benefit obligation, December 31 118 118 125
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets, January 1 0 0  
Company contributions 21 22  
Participants’ contributions 1 2  
Benefits paid (22) (24)  
Fair value of plan assets, December 31 0 0 0
Funded status, December 31 (118) (118)  
Current liability (14) (13)  
Non-current liability (104) (105)  
Amounts recognized in the consolidated balance sheet (118) (118)  
Net actuarial loss (gain) 16 2  
Amounts recognized in accumulated other comprehensive income (pre-tax) 16 2  
Non-U.S. Plans      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation, January 1 4 4  
Interest cost 0 0 0
Participants’ contributions 1 0  
Actuarial (gain) loss (1) 0  
Benefits paid 0 0  
Benefit obligation, December 31 4 4 4
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets, January 1 0 0  
Company contributions 0 0  
Participants’ contributions 0 0  
Benefits paid 0 0  
Fair value of plan assets, December 31 0 0 $ 0
Funded status, December 31 (4) (4)  
Current liability 0 0  
Non-current liability (4) (4)  
Amounts recognized in the consolidated balance sheet (4) (4)  
Net actuarial loss (gain) (2) (1)  
Amounts recognized in accumulated other comprehensive income (pre-tax) $ (2) $ (1)  
v3.25.0.1
(Postretirement Benefit Adjustments Recognized In Other Comprehensive (Loss) Income) (Details) - Other Postretirement Benefits Plan [Member]
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
U.S. Plans  
Defined Benefit Plan Disclosure [Line Items]  
Current year actuarial (gain) loss $ 15
Amortization of actuarial (loss) gain (1)
Total recognized in other comprehensive income 14
Non-U.S. Plans  
Defined Benefit Plan Disclosure [Line Items]  
Current year actuarial (gain) loss (1)
Amortization of actuarial (loss) gain 0
Total recognized in other comprehensive income $ (1)
v3.25.0.1
(Estimated Total Future Postretirement Benefit Payments, Net Of Participant Contributions And Estimated Future Medicare Part D Subsidy Receipts) (Details) - Other Postretirement Benefits Plan [Member]
$ in Millions
Dec. 31, 2024
USD ($)
U.S. Plans  
Defined Benefit Plan Disclosure [Line Items]  
Benefit Payments, year 1 $ 14
Benefit Payments, year 2 14
Benefit Payments, year 3 13
Benefit Payments, year 4 12
Benefit Payments, year 5 11
Benefit Payments, year 6-10 47
Subsidy Receipts, year 1 1
Subsidy Receipts, year 2 1
Subsidy Receipts, year 3 1
Subsidy Receipts, year 4 1
Subsidy Receipts, year 5 1
Subsidy Receipts, year 6-10 2
Non-U.S. Plans  
Defined Benefit Plan Disclosure [Line Items]  
Benefit Payments, year 1 0
Benefit Payments, year 2 0
Benefit Payments, year 3 0
Benefit Payments, year 4 0
Benefit Payments, year 5 0
Benefit Payments, year 6-10 $ 1
v3.25.0.1
Postretirement Benefits (Narrative) (Details) - Other Postretirement Benefits Plan [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Total recognized in other comprehensive income $ 14    
Total recognized in net periodic benefit cost or OCI (7) $ (2) $ 44
Non-U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Total recognized in other comprehensive income (1)    
Total recognized in net periodic benefit cost or OCI $ (1) $ 0 $ 0
v3.25.0.1
(Assumptions Used To Determine Compensation Cost For Market Condition Component Of Performance Share Program) (Details)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement, Additional Disclosure [Abstract]  
Expected volatility, lower limit 27.09%
Expected volatility, upper limit 37.11%
Risk-free interest rate, lower limit 0.97%
Risk-free interest rate, upper limit 4.79%
v3.25.0.1
(Summary Of Performance Share Program Activity) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares/units, outstanding 6,120,951 5,312,480 5,926,142
Shares/units, granted   972,563 1,899,211
Shares/units, shares issued   (15,161) (1,130,236)
Shares/units, forfeited (1,350,063) (1,234,328) (1,382,637)
Shares/units, outstanding (6,918,325) (6,120,951) (5,312,480)
Weighted average grant date fair value, outstanding $ 35.31 $ 38.01 $ 35.43
Weighted average grant date fair value, granted   40.44 50.32
Weighted average grant date fair value, shares issued   34.63 40.23
Weighted average grant date fair value, forfeited 45.58 45.38 42.03
Weighted average grant date fair value, outstanding $ 31.29 $ 35.31 $ 38.01
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares/units, granted 1,414,316 1,411,042  
Weighted average grant date fair value, granted $ 36.15 $ 34.63  
Restricted Stock Units (RSUs) | 2023 Award Year      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares/units, shares issued (446,582)    
Weighted average grant date fair value, shares issued $ 34.63    
Restricted Stock Units (RSUs) | 2024 Award Year      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares/units, shares issued (8,060)    
Weighted average grant date fair value, shares issued $ 36.15    
Restricted performance share plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares/units, granted 2,039,725 1,619,481  
Shares/units, shares issued (851,962)    
Weighted average grant date fair value, granted $ 35.28 $ 37.78  
Weighted average grant date fair value, shares issued $ 53.32    
v3.25.0.1
(Summary Of Activity Of Restricted Stock Award Program) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares/units, outstanding 6,120,951 5,312,480 5,926,142
Shares/units, granted   972,563 1,899,211
Shares/units, shares issued   (15,161) (1,130,236)
Shares/units, forfeited (1,350,063) (1,234,328) (1,382,637)
Shares/Units, outstanding 6,918,325 6,120,951 5,312,480
Weighted average grant date fair value, outstanding $ 35.31 $ 38.01 $ 35.43
Weighted average grant date fair value, granted   40.44 50.32
Weighted average grant date fair value, shares issued   34.63 40.23
Weighted average grant date fair value, forfeited 45.58 45.38 42.03
Weighted average grant date fair value, outstanding $ 31.29 $ 35.31 $ 38.01
Restricted Stock [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares/units, outstanding 156,574 126,392 103,769
Shares/units, granted 115,200 123,454 132,200
Shares/units, shares issued (85,236) (81,629) (104,177)
Shares/units, forfeited (6,700) (11,643) (5,400)
Shares/Units, outstanding 179,838 156,574 126,392
Weighted average grant date fair value, outstanding $ 39.22 $ 46.88 $ 49.03
Weighted average grant date fair value, granted 43.26 35.51 43.38
Weighted average grant date fair value, shares issued 37.53 45.40 44.53
Weighted average grant date fair value, forfeited 38.30 39.77 47.78
Weighted average grant date fair value, outstanding $ 42.64 $ 39.22 $ 46.88
v3.25.0.1
(Stock-Based Compensation Expense And Related Income Tax Benefits) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Income tax benefits related to stock-based compensation $ 14 $ 12 $ 13
Selling And Marketing Expense [Member]      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Total stock-based compensation expense (included in selling and administrative expense) $ 82 $ 58 $ 124
v3.25.0.1
Incentive Plans (Narrative) (Details) - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation cost related to unvested restricted performace shares, executive continuity awards and restricted stock attributable to future performance, net of estimated forfeitures $ 72    
Compensation cost related to unvested restricted performace shares, executive continuity awards and restricted stock attributable to future performance, net of estimated forfeitures, weighted-average period (in years) 1 year 8 months 12 days    
Maximum Aggregate Number of Shares under ICP 9,250    
Restricted performance share plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weight of return on investment (ROI) on awards 50.00%    
Weight of total shareholder return (TSR) on awards 50.00%    
Share-based Payment Arrangement [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares available for grant 9,100 5,500 7,300
v3.25.0.1
(Operating Profit By Industry Segment) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Net sales [1],[2] $ 18,619 $ 18,916 $ 21,161
Cost of Goods and Services Sold 13,376 13,629 15,143
Selling and administrative expenses 1,840 1,360 1,293
Depreciation and amortization 1,305 1,432 1,040
Distribution expenses 1,475 1,575 1,783
Interest Expense, Operating 208 231 325
Income From Equity Method Investment And Income Attributable To Noncontrolling Interests (5) (2) (5)
Other Noninterest Expense 44 27 34
Segment Reporting Information, Corporate Special Items 251 28 99
Segment Reporting Information, Business Special Items 122 107 76
Non-operating pension (income) expense (42) 54 (192)
Earnings (loss) from continuing operations before income taxes and equity earnings 147 382 1,511
Operating Segments [Member]      
Segment Reporting Information [Line Items]      
Net sales [1] 18,327 18,486 20,678
Operating Income (Loss) 725 827 1,848
Operating Segments [Member] | Industrial Packaging      
Segment Reporting Information [Line Items]      
Net sales [1] 15,534 15,596 17,451
Cost of Goods and Services Sold 10,985 11,093 12,509
Selling and administrative expenses 1,451 1,078 983
Depreciation and amortization 850 1,144 783
Distribution expenses 1,179 1,240 1,315
Segment Reporting, Other Segment Item, Amount [3] 118 122 119
Operating Income (Loss) 951 919 1,742
Operating Segments [Member] | Global Cellulose Fibers      
Segment Reporting Information [Line Items]      
Net sales [1] 2,793 2,890 3,227
Cost of Goods and Services Sold 1,983 2,121 2,183
Selling and administrative expenses 262 211 189
Depreciation and amortization 450 286 255
Distribution expenses 295 335 468
Segment Reporting, Other Segment Item, Amount [3] 29 29 26
Operating Income (Loss) (226) (92) 106
Reportable Geographical Components [Member] | Industrial Packaging      
Segment Reporting Information [Line Items]      
Net sales [2] 15,534 15,596 17,451
Reportable Geographical Components [Member] | Global Cellulose Fibers      
Segment Reporting Information [Line Items]      
Net sales [2] 2,793 2,890 3,227
Consolidation, Eliminations      
Segment Reporting Information [Line Items]      
Net sales [2] 292 430 483
Corporate & Intersegment      
Segment Reporting Information [Line Items]      
Net sales [1] $ 292 $ 430 $ 483
[1] Net sales are attributed to countries based on the location of the seller.
[2] Net sales are attributed to countries based on the location of the reportable segment making the sale.
[3] Other segment items includes Taxes other than payroll.
v3.25.0.1
(Information By Industry Segment, Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]    
Assets $ 22,800 $ 23,261
Operating Segments [Member] | Industrial Packaging    
Segment Reporting Information [Line Items]    
Assets 15,805 16,060
Operating Segments [Member] | Global Cellulose Fibers    
Segment Reporting Information [Line Items]    
Assets 2,857 3,369
Corporate and other | Corporate Segment and Other Operating Segment    
Segment Reporting Information [Line Items]    
Assets $ 4,138 $ 3,832
v3.25.0.1
(Information By Industry Segment, Capital Spending) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Capital Spending $ 921 $ 1,141 $ 931
Operating Segments [Member]      
Segment Reporting Information [Line Items]      
Capital Spending 896 1,105 905
Operating Segments [Member] | Industrial Packaging      
Segment Reporting Information [Line Items]      
Capital Spending 763 928 762
Operating Segments [Member] | Global Cellulose Fibers      
Segment Reporting Information [Line Items]      
Capital Spending 133 177 143
Corporate and other      
Segment Reporting Information [Line Items]      
Capital Spending $ 25 $ 36 $ 26
v3.25.0.1
(Information By Industry Segment, External Sales By Major Product) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Net sales [1],[2] $ 18,619 $ 18,916 $ 21,161
Operating Segments [Member]      
Segment Reporting Information [Line Items]      
Net sales [1] 18,327 18,486 20,678
Operating Segments [Member] | Industrial Packaging      
Segment Reporting Information [Line Items]      
Net sales [1] 15,534 15,596 17,451
Operating Segments [Member] | Industrial Packaging | External Customers      
Segment Reporting Information [Line Items]      
Net sales 15,533 15,596 17,441
Operating Segments [Member] | Global Cellulose Fibers      
Segment Reporting Information [Line Items]      
Net sales [1] 2,793 2,890 3,227
Operating Segments [Member] | Global Cellulose Fibers | External Customers      
Segment Reporting Information [Line Items]      
Net sales 2,784 2,883 3,219
Corporate and other      
Segment Reporting Information [Line Items]      
Net sales (114) (95) (132)
Corporate and other | Industrial Packaging      
Segment Reporting Information [Line Items]      
Net sales (114) (95) (132)
Corporate and other | Corporate Segment and Other Operating Segment | External Customers      
Segment Reporting Information [Line Items]      
Net sales $ 302 $ 437 $ 501
[1] Net sales are attributed to countries based on the location of the seller.
[2] Net sales are attributed to countries based on the location of the reportable segment making the sale.
v3.25.0.1
(Information By Geographic Area, Net Sales) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Net sales [1],[2] $ 18,619 $ 18,916 $ 21,161
United States      
Segment Reporting Information [Line Items]      
Net sales [1],[2],[3] 16,300 16,340 18,482
EMEA      
Segment Reporting Information [Line Items]      
Net sales [1],[2] 1,432 1,494 1,693
Pacific Rim and Asia      
Segment Reporting Information [Line Items]      
Net sales [1] 157 261 123
Americas, other than U.S.      
Segment Reporting Information [Line Items]      
Net sales [1],[2] $ 730 $ 821 $ 863
[1] Net sales are attributed to countries based on the location of the seller.
[2] Net sales are attributed to countries based on the location of the reportable segment making the sale.
[3] Export sales to unaffiliated customers were $2.9 billion in 2024, $2.7 billion in 2023 and $3.2 billion in 2022.
v3.25.0.1
(Information By Geographic Area, Long-Lived Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]    
Long-Lived Assets [1] $ 9,675 $ 10,168
United States    
Segment Reporting Information [Line Items]    
Long-Lived Assets [1] 8,617 9,021
EMEA    
Segment Reporting Information [Line Items]    
Long-Lived Assets [1] 706 757
Americas, other than U.S.    
Segment Reporting Information [Line Items]    
Long-Lived Assets [1] $ 352 $ 390
[1] Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net.
v3.25.0.1
Financial Information By Business Segment And Geographic Area (Information By Geographic Area, Net Sales Footnotes) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Restructuring and related cost, accelerated depreciation $ 233,000,000 $ 422,000,000  
United States      
Segment Reporting Information [Line Items]      
Segment reporting information, unaffiliated revenue $ 2,900,000,000 $ 2,700,000,000 $ 3,200,000,000