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LEASES

9 Months Ended

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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- References

No definition available.

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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

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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

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