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LEASES | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
LEASES | 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 a remaining lease term of up to 28 years. Total lease costs were $122 million and $74 million for the three months ended September 30, 2025 and 2024, respectively, and $333 million and $217 million for the nine months ended September 30, 2025 and 2024, respectively. Supplemental Balance Sheet Information Related to Leases
In millions |  | Classification |  | September 30, 2025 |  | December 31, 2024
Assets |  |  |  |  |  |
Operating lease assets |  | Right-of-use assets |  | $ | 679 |  |  | $ | 402 |
Finance lease assets |  | Plants, properties and equipment, net (a) |  | 69 |  |  | 31 |
Total leased assets |  |  |  | $ | 748 |  |  | $ | 433 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 234 |  |  | $ | 144 |
Finance |  | Notes payable and current maturities of long-term debt |  | 16 |  |  | 9 |
Noncurrent |  |  |  |  |  |
Operating |  | Long-term lease obligations |  | 450 |  |  | 269 |
Finance |  | Long-term debt |  | 68 |  |  | 31 |
Total lease liabilities |  |  |  | $ | 768 |  |  | $ | 453 |
(a)Finance leases are recorded net of accumulated amortization of $72 million and $59 million as of September 30, 2025 and December 31, 2024, respectively. Maturity of Lease Liabilities
In millions |  | Operating Leases |  | Financing Leases |  | Total
2025 (three months) |  | $ | 72 |  |  | $ | 11 |  |  | $ | 83 |
2026 |  | 230 |  |  | 28 |  |  | 258 |
2027 |  | 171 |  |  | 16 |  |  | 187 |
2028 |  | 111 |  |  | 13 |  |  | 124 |
2029 |  | 62 |  |  | 9 |  |  | 71 |
Thereafter |  | 112 |  |  | 15 |  |  | 127 |
Total lease payments |  | 758 |  |  | 92 |  |  | 850 |
Less imputed interest |  | 74 |  |  | 8 |  |  | 82 |
Present value of lease liabilities |  | $ | 684 |  |  | $ | 84 |  |  | $ | 768 |
LEASES | 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 a remaining lease term of up to 28 years. Total lease costs were $122 million and $74 million for the three months ended September 30, 2025 and 2024, respectively, and $333 million and $217 million for the nine months ended September 30, 2025 and 2024, respectively. Supplemental Balance Sheet Information Related to Leases
In millions |  | Classification |  | September 30, 2025 |  | December 31, 2024
Assets |  |  |  |  |  |
Operating lease assets |  | Right-of-use assets |  | $ | 679 |  |  | $ | 402 |
Finance lease assets |  | Plants, properties and equipment, net (a) |  | 69 |  |  | 31 |
Total leased assets |  |  |  | $ | 748 |  |  | $ | 433 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 234 |  |  | $ | 144 |
Finance |  | Notes payable and current maturities of long-term debt |  | 16 |  |  | 9 |
Noncurrent |  |  |  |  |  |
Operating |  | Long-term lease obligations |  | 450 |  |  | 269 |
Finance |  | Long-term debt |  | 68 |  |  | 31 |
Total lease liabilities |  |  |  | $ | 768 |  |  | $ | 453 |
(a)Finance leases are recorded net of accumulated amortization of $72 million and $59 million as of September 30, 2025 and December 31, 2024, respectively. Maturity of Lease Liabilities
In millions |  | Operating Leases |  | Financing Leases |  | Total
2025 (three months) |  | $ | 72 |  |  | $ | 11 |  |  | $ | 83 |
2026 |  | 230 |  |  | 28 |  |  | 258 |
2027 |  | 171 |  |  | 16 |  |  | 187 |
2028 |  | 111 |  |  | 13 |  |  | 124 |
2029 |  | 62 |  |  | 9 |  |  | 71 |
Thereafter |  | 112 |  |  | 15 |  |  | 127 |
Total lease payments |  | 758 |  |  | 92 |  |  | 850 |
Less imputed interest |  | 74 |  |  | 8 |  |  | 82 |
Present value of lease liabilities |  | $ | 684 |  |  | $ | 84 |  |  | $ | 768 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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