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BUSINESS SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
|  | Three Months Ended September 30, 2025
In millions |  | Packaging Solutions North America |  | Packaging Solutions EMEA |  | Total
Net Sales |  | $ | 3,898 |  |  | $ | 2,310 |  |  | 6,208 |
Corporate and Intrasegment Sales |  |  |  |  |  | 14 |
Total Net Sales |  |  |  |  |  | 6,222 |
Less: |  |  |  |  |  |
Cost of products sold |  | 2,582 |  |  | 1,721 |  |  |
Selling and administrative expenses |  | 335 |  |  | 134 |  |  |
Depreciation and amortization |  | 831 |  |  | 267 |  |  |
Distribution expenses |  | 287 |  |  | 235 |  |  |
Other segment items (a) |  | 29 |  |  | 11 |  |  |
Business Segment Operating Profit (Loss) |  | (166) |  |  | (58) |  |  | (224) |
Interest Expense, net |  |  |  |  |  | 85 |
Adjustment for less than wholly owned subsidiaries (b) |  |  |  |  |  | (1) |
Corporate expenses, net |  |  |  |  |  | 17 |
Net special items (i) |  |  |  |  |  | 354 |
Non-operating pension (income) expense |  |  |  |  |  | (4) |
Earnings (loss) from continuing operations before income taxes and equity earnings (loss) | $ | (675) |
(i)Includes a charge of $38 million for transaction and other costs related to the DS Smith acquisition, a charge of $135 million for costs related to the closure of our Savannah containerboard mill, a charge of $95 million for costs related to the closure of our Riceboro containerboard mill, a charge of $31 million for the impairment of assets and a net charge of $55 million for other items.
|  | Nine Months Ended September 30, 2025
In millions |  | Packaging Solutions North America |  | Packaging Solutions EMEA |  | Total
Net Sales |  | $ | 11,460 |  |  | $ | 6,151 |  |  | $ | 17,611 |
Corporate and Intrasegment Sales |  |  |  |  |  | 17 |
Total Net Sales |  |  |  |  |  | 17,628 |
Less: |  |  |  |  |  |
Cost of products sold |  | 7,846 |  |  | 4,567 |  |  |
Selling and administrative expenses |  | 957 |  |  | 381 |  |  |
Depreciation and amortization |  | 1,480 |  |  | 569 |  |  |
Distribution expenses |  | 834 |  |  | 621 |  |  |
Other segment items (a) |  | 90 |  |  | 26 |  |  |
Business Segment Operating Profit (Loss) |  | 253 |  |  | (13) |  |  | 240 |
Interest Expense, net |  |  |  |  |  | 277 |
Adjustment for less than wholly owned subsidiaries (b) |  |  |  |  |  | (2) |
Corporate expenses, net |  |  |  |  |  | 74 |
Net special items (i) |  |  |  |  |  | 611 |
Non-operating pension (income) expense |  |  |  |  |  | (6) |
Earnings (loss) from continuing operations before income taxes and equity earnings (loss) |  | $ | (714) |
(i)Includes a charge of $314 million for transaction and other costs related to the DS Smith acquisition, a charge of $85 million for severance and other costs related to the closure of our Red River containerboard mill, a net gain of $51 million related to the sale of EMEA plants, a net gain of $67 million related to the sale of fixed assets primarily associated with our permanently closed Orange, Texas containerboard mill, a charge of $135 million for costs related to the closure of our Savannah containerboard mill, a charge of $95 million for costs related to the closure of our Riceboro containerboard mill, a charge of $31 million for the impairment of assets and a net charge of $69 million for other items.
|  | Three Months Ended September 30, 2024
In millions |  | Packaging Solutions North America |  | Packaging Solutions EMEA |  | Total
Net Sales |  | $ | 3,640 |  |  | $ | 322 |  |  | $ | 3,962 |
Corporate and Intrasegment Sales |  |  |  |  |  | 17 |
Total Net Sales |  |  |  |  |  | 3,979 |
Less: |  |  |  |  |  |
Cost of products sold |  | 2,605 |  |  | 246 |  |  |
Selling and administrative expenses |  | 360 |  |  | 29 |  |  |
Depreciation and amortization |  | 192 |  |  | 16 |  |  |
Distribution expenses |  | 265 |  |  | 23 |  |  |
Other segment items (a) |  | 28 |  |  | 1 |  |  |
Business Segment Operating Profit (Loss) |  | 190 |  |  | 7 |  |  | 197 |
Interest Expense, net |  |  |  |  |  | 52 |
Adjustment for less than wholly owned subsidiaries (b) |  |  |  |  |  | (1) |
Corporate expenses, net |  |  |  |  |  | 40 |
Net special items |  |  |  |  |  | 113 |
Non-operating pension (income) expense |  |  |  |  |  | (12) |
Earnings (loss) from continuing operations before income taxes and equity earnings (loss) |  | $ | 5 |
|  | Nine Months Ended September 30, 2024
In millions |  | Packaging Solutions North America |  | Packaging Solutions EMEA |  | Total
Net Sales |  | $ | 10,754 |  |  | $ | 998 |  |  | $ | 11,752 |
Corporate and Intrasegment Sales |  |  |  |  |  | 161 |
Total Net Sales |  |  |  |  |  | 11,913 |
Less: |  |  |  |  |  |
Cost of products sold |  | 7,631 |  |  | 758 |  |  |
Selling and administrative expenses |  | 960 |  |  | 79 |  |  |
Depreciation and amortization |  | 581 |  |  | 48 |  |  |
Distribution expenses |  | 834 |  |  | 68 |  |  |
Other segment items (a) |  | 85 |  |  | 4 |  |  |
Business Segment Operating Profit (Loss) |  | 663 |  |  | 41 |  |  | 704 |
Interest Expense, net |  |  |  |  |  | 156 |
Adjustment for less than wholly owned subsidiaries (b) |  |  |  |  |  | (4) |
Corporate expenses, net |  |  |  |  |  | 144 |
Net special items |  |  |  |  |  | 186 |
Non-operating pension (income) expense |  |  |  |  |  | (34) |
Earnings (loss) from continuing operations before income taxes and equity earnings (loss) |  | $ | 256 |
Reconciliation of Assets from Segment to Consolidated | Assets
In millions |  | September 30, 2025 |  | December 31, 2024 |
Packaging Solutions North America |  | $ | 16,613 |  |  | $ | 14,501 |  |
Packaging Solutions EMEA |  | 18,127 |  |  | 1,276 |  |
Corporate and other (c) |  | 5,828 |  |  | 7,023 |  |
Assets |  | $ | 40,568 |  |  | $ | 22,800 |  |
Segment, Reconciliation of Other Items from Segments to Consolidated | Capital Expenditures
In millions |  | Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024 |
Packaging Solutions North America |  | $ | 720 |  |  | $ | 512 |  |
Packaging Solutions EMEA |  | 362 |  |  | 37 |  |
Subtotal |  | 1,082 |  |  | 549 |  |
Corporate and other (d) |  | 125 |  |  | 112 |  |
Capital Expenditures |  | $ | 1,207 |  |  | $ | 661 |  |
Revenue from External Customers by Products and Services | External Sales By Segment (e)
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
In millions |  | 2025 |  | 2024 |  | 2025 |  | 2024
Packaging Solutions North America |  | $ | 3,859 |  |  | $ | 3,604 |  |  | $ | 11,330 |  |  | $ | 10,667 |
Packaging Solutions EMEA |  | 2,309 |  |  | 322 |  |  | 6,150 |  |  | 997 |
Other |  | 54 |  |  | 53 |  |  | 148 |  |  | 249 |
Net Sales |  | $ | 6,222 |  |  | $ | 3,979 |  |  | $ | 17,628 |  |  | $ | 11,913 |
(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)Includes corporate assets and held for sale assets related to the Global Cellulose Fibers business. (d)Includes capital expenditures for corporate and the Global Cellulose Fibers business. (e)External sales by segment are defined as those 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.

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