Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 19, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'IP | ' | ' |
Entity Registrant Name | 'INTERNATIONAL PAPER CO /NEW/ | ' | ' |
Entity Central Index Key | '0000051434 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 438,800,916 | ' |
Entity Public Float | ' | ' | $19,567,052,215 |
Consolidated_Statement_Of_Oper
Consolidated Statement Of Operations (USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Income Statement [Abstract] | ' | ' | ' | |||
NET SALES | $29,080 | [1] | $27,833 | [1] | $26,034 | [1] |
COSTS AND EXPENSES | ' | ' | ' | |||
Cost of products sold | 21,223 | 20,587 | 18,960 | |||
Selling and administrative expenses | 2,205 | 2,092 | 1,887 | |||
Depreciation, amortization and cost of timber harvested | 1,547 | [2] | 1,486 | [2] | 1,332 | [2] |
Distribution expenses | 1,732 | 1,611 | 1,390 | |||
Taxes other than payroll and income taxes | 185 | 166 | 146 | |||
Restructuring and other charges | 210 | 109 | 102 | |||
Impairment of goodwill and other intangibles | 527 | 0 | 0 | |||
Net (gains) losses on sales and impairments of businesses | 3 | 86 | 218 | |||
Net bargain purchase gain on acquisition of business | -13 | 0 | 0 | |||
Interest expense, net | 612 | 672 | 541 | |||
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY EARNINGS | 849 | [3],[4],[5],[6] | 1,024 | [10],[7],[8],[9] | 1,458 | |
Income tax provision (benefit) | -523 | 331 | 311 | |||
Equity earnings (loss), net of taxes | -39 | 61 | 140 | |||
EARNINGS (LOSS) FROM CONTINUING OPERATIONS | 1,333 | 754 | 1,287 | |||
Discontinued operations, net of taxes | 45 | 45 | 49 | |||
NET EARNINGS (LOSS) | 1,378 | 799 | 1,336 | |||
Less: Net earnings (loss) attributable to noncontrolling interests | -17 | 5 | 14 | |||
NET EARNINGS (LOSS) ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY | 1,395 | [11],[12],[13],[14],[3],[4],[5],[6] | 794 | [10],[15],[7],[8],[9] | 1,322 | |
BASIC EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS | ' | ' | ' | |||
Earnings (loss) from continuing operations | $3.05 | [3],[4],[5],[6] | $1.72 | [10],[7],[8],[9] | $2.95 | |
Discontinued operations, net of taxes | $0.10 | $0.10 | $0.11 | |||
Net earnings (loss) | $3.15 | [11],[12],[13],[14],[3],[4],[5],[6] | $1.82 | [10],[15],[7],[8],[9] | $3.06 | |
DILUTED EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS | ' | ' | ' | |||
Earnings (loss) from continuing operations | $3.01 | [3],[4],[5],[6] | $1.70 | [10],[7],[8],[9] | $2.92 | |
Discontinued operations, net of taxes | $0.10 | $0.10 | $0.11 | |||
Net earnings (loss) | $3.11 | [11],[12],[13],[14],[3],[4],[5],[6] | $1.80 | [10],[15],[7],[8],[9] | $3.03 | |
AMOUNTS ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS | ' | ' | ' | |||
Earnings (loss) from continuing operations | 1,350 | 749 | 1,273 | |||
Discontinued operations, net of taxes | 45 | 45 | 49 | |||
Net earnings (loss) | $1,395 | [11],[12],[13],[14],[3],[4],[5],[6] | $794 | [10],[15],[7],[8],[9] | $1,322 | |
[1] | Net sales are attributed to countries based on the location of the seller. | |||||
[2] | Excludes accelerated depreciation related to closure of mills. | |||||
[3] | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | |||||
[4] | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | |||||
[5] | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | |||||
[6] | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | |||||
[7] | Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. | |||||
[8] | Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | |||||
[9] | ncludes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | |||||
[10] | Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | |||||
[11] | Includes pre-tax noncontrolling interest income of $4 million ($3 million after taxes) associated with the write-off of a trade name intangible asset in our India Papers business. | |||||
[12] | Includes a tax benefit of $651 million associated with the closing of a U.S. federal tax audit and a net tax benefit of $3 million for other items. | |||||
[13] | Includes a tax benefit of $31 million for an income tax reserve release. In addition, the third quarter tax rate includes a $30 million benefit related to the adjustment of the tax basis in certain of the Company's fixed assets. | |||||
[14] | Includes a tax benefit of $93 million associated with the closing of a U.S. federal income tax audit and a net tax expense of $2 million related to internal restructurings. In addition, the first quarter tax rate includes a benefit of approximately $35 million related to the enactment into law of The American Taxpayer Relief Act of 2012 in January 2013. | |||||
[15] | Includes a net expense of $14 million related to internal restructurings and a $5 million expense to adjust deferred tax assets related to post-retirement prescription drug coverage (Medicare Part D reimbursements). |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
NET EARNINGS (LOSS) | $1,378 | $799 | $1,336 | |||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | ' | ' | ' | |||
Change in cumulative foreign currency translation adjustment | -426 | -131 | -492 | |||
Net gains/losses on cash flow hedging derivatives: | ' | ' | ' | |||
Net gains (losses) arising during the period (less tax of $2, $1 and $17) | 0 | 15 | -43 | |||
Reclassification adjustment for (gains) losses included in net earnings (less tax of $3, $13 and $8) | -7 | 22 | 8 | |||
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | 1,058 | [1] | -838 | [1] | -1,176 | [1] |
Comprehensive Income (Loss) | 2,436 | -39 | 160 | |||
Net (Earnings) Loss Attributable to Noncontrolling Interests | 17 | -5 | -14 | |||
Other Comprehensive (Income) Loss Attributable to Noncontrolling Interests | 23 | 3 | -4 | |||
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY | 2,476 | -41 | 142 | |||
U.S. Plans [Member] | ' | ' | ' | |||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | ' | ' | ' | |||
Amortization of pension and post-retirement prior service costs and net loss | 307 | 195 | 139 | |||
Pension and postretirement liability adjustments: | 1,188 | -914 | -783 | |||
Non-U.S. Plans [Member] | ' | ' | ' | |||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | ' | ' | ' | |||
Pension and postretirement liability adjustments: | ($4) | ($25) | ($5) | |||
[1] | All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. |
Consolidated_Statement_of_Comp1
Consolidated Statement of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Amortization of prior service cost, tax | $195 | $124 | $88 |
Net gains (losses) on cash flow hedging derivatives arising during the period, tax | 2 | 1 | 17 |
Reclassification adjustment for (gains) losses included in net earnings, tax | 3 | 13 | 8 |
U.S. Plans [Member] | ' | ' | ' |
Pension and postretirement liability adjustments, tax | 756 | 583 | 498 |
Non-U.S. Postretirement Benefit Plans [Member] | ' | ' | ' |
Pension and postretirement liability adjustments, tax | $3 | $9 | $3 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and temporary investments | $1,802 | $1,302 |
Accounts and notes receivable, less allowances of $109 in 2013 and $119 in 2012 | 3,756 | 3,562 |
Inventories | 2,825 | 2,730 |
Deferred income tax assets | 302 | 323 |
Assets of businesses held for sale | 0 | 759 |
Other current assets | 340 | 229 |
Total Current Assets | 9,025 | 8,905 |
Plants, Properties and Equipment, net | 13,672 | 13,949 |
Forestlands | 557 | 622 |
Investments | 733 | 887 |
Financial Assets of Special Purpose Entities (Note 12) | 2,127 | 2,108 |
Goodwill | 3,987 | 4,315 |
Deferred Charges and Other Assets | 1,427 | 1,367 |
TOTAL ASSETS | 31,528 | 32,153 |
Current Liabilities | ' | ' |
Notes payable and current maturities of long-term debt | 661 | 444 |
Accounts payable | 2,900 | 2,775 |
Accrued payroll and benefits | 511 | 508 |
Liabilities of businesses held for sale | 0 | 44 |
Other accrued liabilities | 1,055 | 1,227 |
Total Current Liabilities | 5,127 | 4,998 |
Long-Term Debt | 8,827 | 9,696 |
Nonrecourse Financial Liabilities of Special Purpose Entities (Note 12) | 2,043 | 2,036 |
Deferred Income Taxes | 3,765 | 3,026 |
Pension Benefit Obligation | 2,205 | 4,112 |
Postretirement and Postemployment Benefit Obligation | 412 | 473 |
Other Liabilities | 702 | 1,176 |
Redeemable Noncontrolling Interest | 163 | 0 |
Commitments and Contingent Liabilities (Note 11) | ' | ' |
Equity | ' | ' |
Common stock $1 par value, 2013 – 447.2 shares and 2012 – 439.9 shares | 447 | 440 |
Paid-in capital | 6,463 | 6,042 |
Retained earnings | 4,446 | 3,662 |
Accumulated other comprehensive loss | -2,759 | -3,840 |
Total Shareholders' Equity Before Treasury Stock | 8,597 | 6,304 |
Less: Common stock held in treasury, at cost, 2013 – 10.868 shares and 2012 – 0.013 shares | 492 | 0 |
Total Shareholders’ Equity | 8,105 | 6,304 |
Noncontrolling interests | 179 | 332 |
Total Equity | 8,284 | 6,636 |
TOTAL LIABILITIES AND EQUITY | $31,528 | $32,153 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts and notes receivable allowance | $109 | $119 |
Common stock, par value | $1 | $1 |
Common stock, shares | 447,200,000 | 439,900,000 |
Common stock held in treasury, shares | 10,868,000 | 13,000 |
Consolidated_Statement_Of_Cash
Consolidated Statement Of Cash Flows (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
OPERATING ACTIVITIES | ' | ' | ' | |||
Net earnings (loss) | $1,378 | $799 | $1,336 | |||
Discontinued operations, net of taxes | -45 | -45 | -49 | |||
EARNINGS (LOSS) FROM CONTINUING OPERATIONS | 1,333 | 754 | 1,287 | |||
Depreciation, amortization, and cost of timber harvested | 1,547 | [1] | 1,486 | [1] | 1,332 | [1] |
Deferred income tax provision (benefit), net | 146 | 204 | 317 | |||
Restructuring and other charges | 210 | 109 | 102 | |||
Pension plan contribution | -31 | -44 | -300 | |||
Net bargain purchase gain on acquisition of business | -13 | 0 | 0 | |||
Periodic pension expense, net | 545 | 342 | 195 | |||
Net (gains) losses on sales and impairments of businesses | 3 | 86 | 218 | |||
Equity (earnings) losses, net of taxes | 39 | -61 | -140 | |||
Release of tax reserve | -775 | 0 | 0 | |||
Impairment of goodwill and other intangibles | 527 | 0 | 0 | |||
Other, net | -47 | 0 | 169 | |||
Changes in current assets and liabilities | ' | ' | ' | |||
Accounts and notes receivable | -134 | 377 | -128 | |||
Inventories | -114 | -28 | -56 | |||
Accounts payable and accrued liabilities | -110 | -273 | -389 | |||
Interest payable | -57 | 30 | 6 | |||
Other | -71 | -22 | 62 | |||
Cash provided by (used for) operating activities - continuing operations | 2,998 | 2,960 | 2,675 | |||
Cash provided by (used for) operating activities - discontinued operations | 30 | 7 | 0 | |||
CASH PROVIDED BY (USED FOR) OPERATIONS | 3,028 | 2,967 | 2,675 | |||
INVESTMENT ACTIVITIES | ' | ' | ' | |||
Invested in capital projects | -1,198 | -1,383 | -1,159 | |||
Acquisitions, net of cash acquired | -505 | -3,734 | -379 | |||
Proceeds from divestitures | 726 | 474 | 50 | |||
Equity investment in Ilim | 0 | -45 | 0 | |||
Proceeds from sale of fixed assets | 65 | 0 | 0 | |||
Escrow arrangement | 0 | 0 | -25 | |||
Other | 84 | -80 | 26 | |||
Cash provided by (used for) investment activities - continuing operations | -828 | -4,768 | -1,487 | |||
Cash provided by (used for) investment activities - discontinued operations | 1 | -90 | 0 | |||
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES | -827 | -4,858 | -1,487 | |||
FINANCING ACTIVITIES | ' | ' | ' | |||
Repurchase of common stock and payments of restricted stock tax withholding | -512 | -35 | -30 | |||
Issuance of common stock | 298 | 108 | 0 | |||
Issuance of debt | 241 | 2,132 | 1,766 | |||
Reduction of debt | -845 | -2,488 | -517 | |||
Change in book overdrafts | -123 | 11 | -29 | |||
Dividends paid | -554 | -476 | -427 | |||
Redemption of securities | -150 | 0 | 0 | |||
Other | -43 | -47 | -21 | |||
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES | -1,688 | -795 | 742 | |||
Effect of Exchange Rate Changes on Cash | -13 | -6 | -9 | |||
Change in Cash and Temporary Investments | 500 | -2,692 | 1,921 | |||
Cash and Temporary Investments | ' | ' | ' | |||
Beginning of the period | 1,302 | 3,994 | 2,073 | |||
End of the period | $1,802 | $1,302 | $3,994 | |||
[1] | Excludes accelerated depreciation related to closure of mills. |
Consolidated_Statement_Of_Chan
Consolidated Statement Of Changes In Equity (USD $) | Total | Common Stock Issued [Member] | Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total International Paper Shareholders' Equity [Member] | Noncontrolling Interest [Member] |
In Millions | ||||||||
Beginning Balance at Dec. 31, 2010 | $7,125 | $439 | $5,829 | $2,460 | ($1,825) | $28 | $6,875 | $250 |
Issuance of stock for various plans, net | 85 | 0 | 79 | 0 | 0 | -6 | 85 | 0 |
Repurchase of stock | -30 | 0 | 0 | 0 | 0 | 30 | -30 | 0 |
Dividends - Common stock | -427 | 0 | 0 | -427 | 0 | 0 | -427 | 0 |
Dividends paid to noncontrolling interests by subsidiary | -5 | 0 | 0 | 0 | 0 | 0 | 0 | -5 |
Noncontrolling interests of acquired entities | 37 | 0 | 0 | 0 | 0 | 0 | 0 | 37 |
Acquisition of noncontrolling interests | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 40 |
Comprehensive income (loss) | 160 | 0 | 0 | 1,322 | -1,180 | 0 | 142 | 18 |
Ending Balance at Dec. 31, 2011 | 6,985 | 439 | 5,908 | 3,355 | -3,005 | 52 | 6,645 | 340 |
Issuance of stock for various plans, net | 222 | 1 | 134 | 0 | 0 | -87 | 222 | 0 |
Repurchase of stock | -35 | 0 | 0 | 0 | 0 | 35 | -35 | 0 |
Dividends - Common stock | -487 | 0 | 0 | -487 | 0 | 0 | -487 | 0 |
Dividends paid to noncontrolling interests by subsidiary | -6 | 0 | 0 | 0 | 0 | 0 | 0 | -6 |
Noncontrolling interests of acquired entities | -4 | 0 | 0 | 0 | 0 | 0 | 0 | -4 |
Comprehensive income (loss) | -39 | 0 | 0 | 794 | -835 | 0 | -41 | 2 |
Ending Balance at Dec. 31, 2012 | 6,636 | 440 | 6,042 | 3,662 | -3,840 | 0 | 6,304 | 332 |
Issuance of stock for various plans, net | 448 | 7 | 421 | 0 | 0 | -20 | 448 | 0 |
Repurchase of stock | -512 | 0 | 0 | 0 | 0 | 512 | -512 | 0 |
Dividends - Common stock | -567 | 0 | 0 | -567 | 0 | 0 | -567 | 0 |
Dividends paid to noncontrolling interests by subsidiary | -1 | 0 | 0 | 0 | 0 | 0 | 0 | -1 |
Noncontrolling interests of acquired entities | -156 | 0 | 0 | -44 | 0 | 0 | -44 | -112 |
Comprehensive income (loss) | 2,436 | 0 | 0 | 1,395 | 1,081 | 0 | 2,476 | -40 |
Ending Balance at Dec. 31, 2013 | $8,284 | $447 | $6,463 | $4,446 | ($2,759) | $492 | $8,105 | $179 |
Summary_Of_Business_And_Signif
Summary Of Business And Significant Accounting Policies (Note) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Accounting Policies [Abstract] | ' | ||||
Summary Of Business And Significant Accounting Policies [Note Text Block] | ' | ||||
NATURE OF BUSINESS | |||||
International Paper (the Company) is a global paper and packaging company that is complemented by an extensive North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. 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. | |||||
CONSOLIDATION | |||||
The consolidated financial statements include the accounts of International Paper and its wholly-owned, controlled majority-owned and financially controlled subsidiaries. All significant intercompany balances and transactions are eliminated. | |||||
International Paper accounts for its investment in Ilim Holding S.A. (Ilim), a separate reportable industry segment, using the equity method of accounting. Prior to 2012, due to the complex organizational structure of Ilim’s operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the Company reported its share of Ilim’s operating results on a one-quarter lag basis. In 2012, the Company determined that the elimination of the one-quarter lag was preferable because the same period-end reporting date improves overall financial reporting as the impact of current events, economic conditions and global trends are consistently reflected in the financial statements. Beginning January 1, 2012, the Company has applied this change in accounting principle retrospectively to all prior financial reporting periods presented. | |||||
The elimination of the one-quarter reporting lag for Ilim had the following impact: | |||||
Consolidated Statement of Operations | |||||
In millions | 2011 | ||||
Equity earnings (loss), net of taxes | $ | (19 | ) | ||
Earnings (loss) from continuing operations | (19 | ) | |||
Net earnings (loss) attributable to International Paper Company | (19 | ) | |||
Basic earnings (loss) per share from continuing operations | (0.04 | ) | |||
Basic net earnings (loss) per share | (0.04 | ) | |||
Diluted earnings (loss) per share from continuing operations | (0.04 | ) | |||
Diluted net earnings (loss) per share | (0.04 | ) | |||
Investments in affiliated companies where the Company has significant influence over their operations are accounted for by the equity method. International Paper’s share of affiliates’ results of operations totaled earnings (loss) of $(39) million, $61 million and $140 million in 2013, 2012 and 2011, respectively. | |||||
REVENUE RECOGNITION | |||||
Revenue is recognized when the customer takes title and assumes the risks and rewards of ownership. Revenue is recorded at the time of shipment for terms designated f.o.b. (free on board) shipping point. For sales transactions designated f.o.b. destination, revenue is recorded when the product is delivered to the customer’s delivery site, when title and risk of loss are transferred. Timber and forestland sales revenue is generally recognized when title and risk of loss pass to the buyer. | |||||
SHIPPING AND HANDLING COSTS | |||||
Shipping and handling costs, such as freight to our customers’ destinations, are included in distribution expenses in the consolidated statement of operations. When shipping and handling costs are included in the sales price charged for our products, they are recognized in net sales. | |||||
ANNUAL MAINTENANCE COSTS | |||||
Costs for repair and maintenance activities are expensed in the month that the related activity is performed under the direct expense method of accounting. | |||||
TEMPORARY INVESTMENTS | |||||
Temporary investments with an original maturity of three months or less are treated as cash equivalents and are stated at cost, which approximates market. | |||||
INVENTORIES | |||||
Inventories are valued at the lower of cost or market and include all costs directly associated with manufacturing products: materials, labor and manufacturing overhead. In the United States, costs of raw materials and finished pulp and paper products, are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost methods. | |||||
PLANTS, PROPERTIES AND EQUIPMENT | |||||
Plants, properties and equipment are stated at cost, less accumulated depreciation. Expenditures for betterments are capitalized, whereas normal repairs and maintenance are expensed as incurred. The units-of-production method of depreciation is used for major pulp and paper mills, and the straight-line method is used for other plants and equipment. Annual straight-line depreciation rates are, for buildings — 2.50% to 8.50%, and for machinery and equipment — 5% to 33%. | |||||
FORESTLANDS | |||||
At December 31, 2013, International Paper and its subsidiaries owned or managed approximately 332,000 acres of forestlands in Brazil, and through licenses and forest management agreements, had harvesting rights on government-owned forestlands in Russia. Costs attributable to timber are charged against income as trees are cut. The rate charged is determined annually based on the relationship of incurred costs to estimated current merchantable volume. | |||||
GOODWILL | |||||
Goodwill relating to a single business reporting unit is included as an asset of the applicable segment, while goodwill arising from major acquisitions that involve multiple business segments is classified as a corporate asset for segment reporting purposes. For goodwill impairment testing, this goodwill is allocated to reporting units. Annual testing for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim testing performed when management believes that it is more likely than not events or circumstances have occurred that would result in the impairment of a reporting unit’s goodwill. | |||||
In performing this testing, the Company estimates the fair value of its reporting units using the projected future cash flows to be generated by each unit over the estimated remaining useful operating lives of the unit’s assets, discounted using the estimated cost of capital for each reporting unit. These estimated fair values are then analyzed for reasonableness by comparing them to historic market transactions for businesses in the industry, and by comparing the sum of the reporting unit fair values and other corporate assets and liabilities divided by diluted common shares outstanding to the Company’s traded stock price on the testing date. For reporting units whose recorded value of net assets plus goodwill is in excess of their estimated fair values, the fair values of the individual assets and liabilities of the respective reporting units are then determined to calculate the amount of any goodwill impairment charge required. See Note 9 for further discussion. | |||||
IMPAIRMENT OF LONG-LIVED ASSETS | |||||
Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable, measured by comparing their net book value to the undiscounted projected future cash flows generated by their use. Impaired assets are recorded at their estimated fair value. See Note 7 for further discussion. | |||||
INCOME TAXES | |||||
International Paper uses the asset and liability method of accounting for income taxes whereby deferred income taxes are recorded for the future tax consequences attributable to differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets and liabilities are remeasured to reflect new tax rates in the periods rate changes are enacted. | |||||
International Paper records its worldwide tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Where the Company believes that a tax position is supportable for income tax purposes, the item is included in its income tax returns. Where treatment of a position is uncertain, liabilities are recorded based upon the Company’s evaluation of the “more likely than not” outcome considering the technical merits of the position based on specific tax regulations and the facts of each matter. Changes to recorded liabilities are made only when an identifiable event occurs that changes the likely outcome, such as settlement with the relevant tax authority, the expiration of statutes of limitation for the subject tax year, a change in tax laws, or a recent court case that addresses the matter. | |||||
While the judgments and estimates made by the Company are based on management’s evaluation of the technical merits of a matter, assisted as necessary by consultation with outside consultants, historical experience and other assumptions that management believes are appropriate and reasonable under current circumstances, actual resolution of these matters may differ from recorded estimated amounts, resulting in charges or credits that could materially affect future financial statements. | |||||
STOCK-BASED COMPENSATION | |||||
Compensation costs resulting from all stock-based compensation transactions are measured and recorded in the consolidated financial statements based on the grant-date fair value of the equity or liability instruments issued. In addition, liability awards are remeasured each reporting period. Compensation cost is recognized over the period that an employee provides service in exchange for the award. | |||||
ENVIRONMENTAL REMEDIATION COSTS | |||||
Costs associated with environmental remediation obligations are accrued when such costs are probable and reasonably estimable. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable. | |||||
ASSET RETIREMENT OBLIGATIONS | |||||
A liability and an asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. The liability is accreted over time and the asset is depreciated over the life of the related equipment or facility. International Paper’s asset retirement obligations principally relate to closure costs for landfills. Revisions to the liability could occur due to changes in the estimated costs or timing of closures, or possible new federal or state regulations affecting these closures. | |||||
In connection with potential future closures or redesigns of certain production facilities, it is possible that the Company may be required to take steps to remove certain materials from these facilities. Applicable regulations and standards provide that the removal of certain materials would only be required if the facility were to be demolished or underwent major renovations. At this time, any such obligations have an indeterminate settlement date, and the Company believes that adequate information does not exist to apply an expected-present-value technique to estimate any such potential obligations. Accordingly, the Company does not record a liability for such remediation until a decision is made that allows reasonable estimation of the timing of such remediation. | |||||
TRANSLATION OF FINANCIAL STATEMENTS | |||||
Balance sheets of international operations are translated into U.S. dollars at year-end exchange rates, while statements of operations are translated at average rates. Adjustments resulting from financial statement translations are included as cumulative translation adjustments in Accumulated other comprehensive loss. |
Recent_Accounting_Developments
Recent Accounting Developments (Note) | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recent Accounting Developments [Note Text Block] | ' |
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. | |
DISCLOSURES ABOUT OFFSETTING ASSETS AND LIABILITIES | |
In December 2011, the Financial Accounting Standards Board (FASB) issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities”, which amends ASC 210, “Balance Sheet”. This ASU requires entities to disclose gross and net information about both instruments and transactions eligible for offset in the statement of financial position and those subject to an agreement similar to a master netting arrangement. This would include derivatives and other financial securities arrangements. This guidance was effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The application of the requirements of this guidance did not have a material effect on the Company's consolidated financial statements. | |
INTANGIBLES – GOODWILL AND OTHER | |
In July 2012, the FASB issued ASU 2012-02, "Testing Indefinite-Lived Intangible Assets for Impairment," which amends ASC 350, "Intangibles - Goodwill and Other." This ASU gives an entity the option to first assess qualitative factors if it is more likely than not that the fair value of indefinite-lived intangible assets are less than their carrying amount. If that assessment indicates no impairment, the quantitative impairment test is not required. This amendment was effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of the provisions of this guidance did not have a material effect on the Company's consolidated financial statements. | |
COMPREHENSIVE INCOME | |
In February 2013, the FASB issued ASU 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income," which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. This guidance was effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. The Company adopted the provisions of this guidance in the first quarter of 2013. | |
HEDGE ACCOUNTING | |
In July 2013, the FASB issued ASU 2013-10, "Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes," which amends ASC 815, "Derivatives and Hedging," to allow entities to use the Fed Funds Effective Swap Rate, in addition to U.S. Treasury rates and LIBOR, as a benchmark interest rate in accounting for fair value and cash flow hedges in the United States. The ASU also eliminates the provision that prohibits the use of different benchmark rates for similar hedges except in rare and justifiable circumstances. The ASU was effective prospectively for qualifying new hedging relationships entered into on or after July 17, 2013 and for hedging relationships redesignated on or after that date. The adoption of the provisions of this guidance did not have a material effect on the Company's consolidated financial statements. | |
INCOME TAXES | |
In July 2013, the FASB also issued ASU 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists," which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This guidance should be applied to all unrecognized tax benefits that exist as of the effective date which is fiscal years beginning after December 15, 2013, and interim periods within those years. The Company is currently evaluating the provisions of this guidance. |
Earnings_Per_Share_Attributabl
Earnings Per Share Attributable To International Paper Company Common Shareholders (Note) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | |||||||||||
Earnings Per Share Attributable To International Paper Company Common Shareholders [Note Text Block] | ' | |||||||||||
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, including “in-the-money” stock options, were converted into common shares. | ||||||||||||
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 amounts | 2013 | 2012 | 2011 | |||||||||
Earnings (loss) from continuing operations | $ | 1,350 | $ | 749 | $ | 1,273 | ||||||
Effect of dilutive securities (a) | — | — | — | |||||||||
Earnings (loss) from continuing operations –assuming dilution | $ | 1,350 | $ | 749 | $ | 1,273 | ||||||
Average common shares outstanding | 443.3 | 435.2 | 432.2 | |||||||||
Effect of dilutive securities (a): | ||||||||||||
Restricted performance share plan | 4.5 | 5 | 4.8 | |||||||||
Stock options (b) | 0.3 | — | — | |||||||||
Average common shares outstanding – assuming dilution | 448.1 | 440.2 | 437 | |||||||||
Basic earnings (loss) per share from continuing operations | $ | 3.05 | $ | 1.72 | $ | 2.95 | ||||||
Diluted earnings (loss) per share from continuing operations | $ | 3.01 | $ | 1.7 | $ | 2.92 | ||||||
(a) | Securities are not included in the table in periods when antidilutive. | |||||||||||
(b) | Options to purchase 0.0 million, 9.1 million and 15.6 million shares for the years ended December 31,2013, 2012 and 2011, respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company’s common stock for each respective reporting date. |
Other_Comprehensive_Income_Oth
Other Comprehensive Income Other Comprehensive Income (Note) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Other Comprehensive Income [Note Text Block] | ' | ||||||||||||
The following table presents changes in AOCI for the year ended December 31, 2013: | |||||||||||||
In millions | Defined Benefit Pension and Postretirement Items (a) | Change in Cumulative Foreign Currency Translation Adjustments (a) | Net Gains and Losses on Cash Flow Hedging Derivatives (a) | Total (a) | |||||||||
Balance as of January 1, 2013 | $ | (3,596 | ) | $ | (246 | ) | $ | 2 | $ | (3,840 | ) | ||
Other comprehensive income (loss) before reclassifications | 1,184 | (443 | ) | — | 741 | ||||||||
Amounts reclassified from accumulated other comprehensive income | 307 | 17 | (7 | ) | 317 | ||||||||
Net Current Period Other Comprehensive Income | 1,491 | (426 | ) | (7 | ) | 1,058 | |||||||
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest | — | 23 | — | 23 | |||||||||
Balance as of December 31, 2013 | $ | (2,105 | ) | $ | (649 | ) | $ | (5 | ) | $ | (2,759 | ) | |
(a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. | |||||||||||||
The following table presents changes in AOCI for the year ended December 31, 2012: | |||||||||||||
In millions | Defined Benefit Pension and Postretirement Items (a) | Change in Cumulative Foreign Currency Translation Adjustments (a) | Net Gains and Losses on Cash Flow Hedging Derivatives (a) | Total (a) | |||||||||
Balance as of January 1, 2012 | $ | (2,852 | ) | $ | (118 | ) | $ | (35 | ) | $ | (3,005 | ) | |
Other comprehensive income (loss) before reclassifications | (939 | ) | (96 | ) | 15 | (1,020 | ) | ||||||
Amounts reclassified from accumulated other comprehensive income | 195 | (35 | ) | 22 | 182 | ||||||||
Net Current Period Other Comprehensive Income | (744 | ) | (131 | ) | 37 | (838 | ) | ||||||
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest | — | 3 | — | 3 | |||||||||
Balance as of December 31, 2012 | $ | (3,596 | ) | $ | (246 | ) | $ | 2 | $ | (3,840 | ) | ||
(a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. | |||||||||||||
The following table presents changes in AOCI for the year ended December 31, 2011: | |||||||||||||
In millions | Defined Benefit Pension and Postretirement Items (a) | Change in Cumulative Foreign Currency Translation Adjustments (a) | Net Gains and Losses on Cash Flow Hedging Derivatives (a) | Total (a) | |||||||||
Balance as of January 1, 2011 | $ | (2,203 | ) | $ | 378 | $ | — | $ | (1,825 | ) | |||
Other comprehensive income (loss) before reclassifications | (788 | ) | (492 | ) | (43 | ) | (1,323 | ) | |||||
Amounts reclassified from accumulated other comprehensive income | 139 | — | 8 | 147 | |||||||||
Net Current Period Other Comprehensive Income | (649 | ) | (492 | ) | (35 | ) | (1,176 | ) | |||||
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest | — | (4 | ) | — | (4 | ) | |||||||
Balance as of December 31, 2011 | $ | (2,852 | ) | $ | (118 | ) | $ | (35 | ) | $ | (3,005 | ) | |
(a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. | |||||||||||||
The following table presents details of the reclassifications out of AOCI for the three years ended: | |||||||||||||
Details About Accumulated Other Comprehensive Income Components | Amount Reclassified from Accumulated Other Comprehensive Income (a) | Location of Amount Reclassified from AOCI | |||||||||||
2013 | 2012 | 2011 | |||||||||||
In millions | |||||||||||||
Defined benefit pension and postretirement items: | |||||||||||||
Prior-service costs | $ | (9 | ) | $ | (2 | ) | $ | (6 | ) | (b) | Cost of products sold | ||
Actuarial gains/(losses) | (493 | ) | (317 | ) | (221 | ) | (b) | Cost of products sold | |||||
Total pre-tax amount | (502 | ) | (319 | ) | (227 | ) | |||||||
Tax (expense)/benefit | 195 | 124 | 88 | ||||||||||
Net of tax | (307 | ) | (195 | ) | (139 | ) | |||||||
Change in cumulative foreign currency translation adjustments: | |||||||||||||
Business acquisition/divestiture | (17 | ) | 48 | — | Net (gains) losses on sales and impairments of businesses | ||||||||
Tax (expense)/benefit | — | (13 | ) | — | |||||||||
Net of tax | (17 | ) | 35 | — | |||||||||
Net gains and losses on cash flow hedging derivatives: | |||||||||||||
Foreign exchange contracts | 10 | (24 | ) | 10 | (c) | Cost of products sold | |||||||
Fuel oil contracts | — | — | 6 | (c) | Cost of products sold | ||||||||
Natural gas contracts | — | (11 | ) | (32 | ) | (c) | Cost of products sold | ||||||
Total pre-tax amount | 10 | (35 | ) | (16 | ) | ||||||||
Tax (expense)/benefit | (3 | ) | 13 | 8 | |||||||||
Net of tax | 7 | (22 | ) | (8 | ) | ||||||||
Total reclassifications for the period | $ | (317 | ) | $ | (182 | ) | $ | (147 | ) | ||||
(a) Amounts in parentheses indicate debits to earnings/loss. | |||||||||||||
(b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 16 for additional details). | |||||||||||||
(c) This accumulated other comprehensive income component is included in our derivatives and hedging activities (see Note 14 for additional details). |
Restructuring_and_Other_Charge
Restructuring and Other Charges (Note) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||
Restructuring and Related Activities [Note Text Block] | ' | ||||||||
2013: During 2013, total restructuring and other charges of $210 million before taxes ($131 million after taxes) were recorded. These charges included: | |||||||||
In millions | Before-Tax | After-Tax | |||||||
Charges | Charges | ||||||||
Early debt extinguishment costs (see Note 13) | $ | 25 | $ | 16 | |||||
xpedx restructuring (a) | 32 | 19 | |||||||
xpedx transaction costs | 22 | 14 | |||||||
Courtland mill shutdown (b) | 118 | 72 | |||||||
Box plant closures | (13 | ) | (8 | ) | |||||
Augusta paper machine shutdown (c) | 45 | 28 | |||||||
Insurance reimbursements | (30 | ) | (19 | ) | |||||
Other (d) | 11 | 9 | |||||||
Total | $ | 210 | $ | 131 | |||||
(a) Includes $17 million of severance charges. | |||||||||
(b) Includes $73 million of accelerated depreciation and other non-cash charges, $42 million of severance charges and $3 million of other charges which are recorded in the Printing Papers segment. During 2013, the Company accelerated depreciation for certain Courtland assets, and diligently evaluated certain other assets for possible alternative uses by one of our other businesses. The net book value of these assets at December 31, 2013 was approximately $470 million. During 2014, we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014. | |||||||||
(c) Includes $39 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges which are recorded in the Consumer Packaging segment. | |||||||||
(d) Includes $2 million of severance charges. | |||||||||
Included in the $210 million of organization restructuring and other charges is $63 million of severance charges. | |||||||||
The following table presents a rollforward of the severance and other costs for approximately 1,686 employees included in the 2013 restructuring charges. | |||||||||
In millions | Severance | ||||||||
and Other | |||||||||
Additions and adjustments | $ | 63 | |||||||
Cash charges in 2013 | (21 | ) | |||||||
Balance, December 31, 2013 | $ | 42 | |||||||
As of December 31, 2013, 624 employees had left the Company under these programs. | |||||||||
2012: During 2012, total restructuring and other charges of $109 million before taxes ($74 million after taxes) were recorded. These charges included: | |||||||||
In millions | Before-Tax | After-Tax | |||||||
Charges | Charges | ||||||||
Early debt extinguishment costs (see Note 13) | $ | 48 | $ | 30 | |||||
xpedx restructuring (a) | 44 | 28 | |||||||
EMEA packaging restructuring (b) | 17 | 12 | |||||||
Other | — | 4 | |||||||
Total | $ | 109 | $ | 74 | |||||
(a) Includes $14 million of severance charges. | |||||||||
(b) Includes $17 million of severance charges. | |||||||||
Included in the $109 million of organizational restructuring and other charges is $31 million of severance charges. | |||||||||
The following table presents a rollforward of the severance and other costs for approximately 811 employees included in the 2012 restructuring charges: | |||||||||
In millions | Severance | ||||||||
and Other | |||||||||
Additions and adjustments | $ | 31 | |||||||
Cash charges in 2012 | (15 | ) | |||||||
Cash charges in 2013 | (6 | ) | |||||||
Balance, December 31, 2013 | $ | 10 | |||||||
As of December 31, 2013, 680 employees had left the Company under these programs. | |||||||||
2011: During 2011, total restructuring and other charges of $102 million before taxes ($66 million after taxes) were recorded. These charges included: | |||||||||
In millions | Before-Tax | After-Tax | |||||||
Charges | Charges | ||||||||
xpedx restructuring (a) | $ | 49 | $ | 34 | |||||
Early debt extinguishment costs (see Note 13) | 32 | 19 | |||||||
Temple-Inland merger agreement | 20 | 12 | |||||||
APPM acquisition | 18 | 12 | |||||||
Franklin, Virginia mill – closure costs (b) | (24 | ) | (15 | ) | |||||
Other | 7 | 4 | |||||||
Total | $ | 102 | $ | 66 | |||||
(a) | Includes $19 million of severance charges. | ||||||||
(b) | Includes a $21 million credit related to the reversal of an environmental reserve. | ||||||||
Included in the $102 million of organizational restructuring and other charges is $25 million of severance charges. | |||||||||
The following table presents a rollforward of the severance and other costs for approximately 629 employees included in the 2011 restructuring charges. As of December 31, 2013, all of these employees had left the Company under these programs. | |||||||||
In millions | Severance | ||||||||
and Other | |||||||||
Additions and adjustments | $ | 25 | |||||||
Cash charges in 2011 | (16 | ) | |||||||
Cash charges in 2012 | (8 | ) | |||||||
Cash charges in 2013 | (1 | ) | |||||||
Balance, December 31, 2013 | $ | — | |||||||
ALTERNATIVE FUEL MIXTURE TAX CREDIT | |||||||||
On July 19, 2011 the Company filed an amended 2009 tax return claiming alternative fuel mixture tax credits as non-taxable income. The amended position has been accepted by the Internal Revenue Service (IRS) in the closing of the IRS tax audit for the years 2006 - 2009. As a result, during 2013, the Company recognized an income tax benefit of $753 million related to the non-taxability of the alternative fuel mixture tax credits. | |||||||||
During 2009, the Company produced 64 million gallons of black liquor that were not eligible for the alternative fuel mixture credit. The Company claimed these gallons for the cellulosic bio-fuel credit by amending the Company’s 2009 tax return. The impact of this amendment was included in the Company’s 2010 fourth quarter Income tax provision (benefit), resulting in a $40 million net credit to tax expense. Temple-Inland, Inc. also recognized an income tax benefit of $83 million in 2010 related to cellulosic bio-fuel credits. |
Acquisitions_And_Joint_Venture
Acquisitions And Joint Ventures (Note) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Acquisitions And Joint Ventures [Abstract] | ' | |||||
Acquisitions And Joint Ventures [Note Text Block] | ' | |||||
2013: On January 3, 2013, International Paper completed the acquisition (effective date of acquisition on January 1, 2013) of the shares of its joint venture partner, Sabanci Holding, in the Turkish corrugated packaging company, Olmuksa International Paper Sabanci Ambalaj Sanayi ve Ticaret A.S. (now called Olmuksan International Paper or Olmuksan), for a purchase price of $56 million. The acquired shares represent 43.7% of Olmuksan's shares. Prior to this acquisition, International Paper held a 43.7% equity interest in Olmuksan. | ||||||
Because the transaction resulted in International Paper becoming the majority shareholder, owning 87.4% of Olmuksan's outstanding and issued shares its completion triggered a mandatory call for tender of the remaining public shares which began in March 2013 and ended in April 2013, with no shares tendered. As a result, the 12.6% owned by other parties are considered non-controlling interests. Olmuksan's financial results have been consolidated with the Company's Industrial Packaging segment beginning January 1, 2013, the effective date which International Paper obtained majority control of the entity. | ||||||
Following the transaction, the Company's previously held 43.7% equity interest in Olmuksan was remeasured to a fair value of $75 million, resulting in a gain of $9 million. The fair value was estimated by applying the discounted cash flow approach, using a 13% discount rate, long-term sustainable growth rates ranging from 6% to 9% and a corporate tax rate of 20%. In addition, the cumulative translation adjustment balance of $17 million relating to the previously held equity interest was reclassified, as expense, from accumulated other comprehensive income. | ||||||
The final purchase price allocation indicates that the sum of the cash consideration paid, the fair value of the noncontrolling interest and the fair value of the previously held interest is less than the fair value of the underlying assets by $21 million, resulting in a bargain purchase price gain being recorded on this transaction. The aforementioned remeasurement of equity interest gain, the cumulative translation adjustment to expense, and the bargain purchase gain are included in the Net bargain purchase gain on acquisition of business in the accompanying consolidated statement of operations. | ||||||
The following table summarizes the final allocation of the purchase price to the fair value of assets and liabilities acquired as of January 1, 2013, which was completed in the fourth quarter of 2013. | ||||||
In millions | ||||||
Cash and temporary investments | $ | 5 | ||||
Accounts and notes receivable | 72 | |||||
Inventory | 31 | |||||
Other current assets | 2 | |||||
Plants, properties and equipment | 106 | |||||
Investments | 11 | |||||
Total assets acquired | 227 | |||||
Notes payable and current maturities of long-term debt | 17 | |||||
Accounts payable and accrued liabilities | 27 | |||||
Deferred income tax liability | 4 | |||||
Postretirement and postemployment benefit obligation | 6 | |||||
Total liabilities assumed | 54 | |||||
Noncontrolling interest | 18 | |||||
Net assets acquired | $ | 155 | ||||
Pro forma information related to the acquisition of Olmuksan has not been included as it does not have a material effect on the Company's consolidated results of operations. | ||||||
2012: On February 13, 2012, International Paper completed the acquisition of Temple-Inland, Inc. (Temple-Inland). International Paper acquired all of the outstanding common stock of Temple-Inland for $32.00 per share in cash, totaling approximately $3.7 billion, and assumed approximately $700 million of Temple-Inland’s debt. As a condition to allowing the transaction to proceed, the Company entered into an agreement on a Final Judgment with the Antitrust Division of the U.S. Department of Justice (DOJ) that required the Company to divest three containerboard mills, with approximately 970,000 tons of aggregate containerboard capacity. On July 2, 2012, International Paper sold its Ontario and Oxnard (Hueneme), California containerboard mills to New-Indy Containerboard LLC, and its New Johnsonville, Tennessee containerboard mill to Hood Container Corporation. By completing these transactions, the Company satisfied its divestiture obligations under the Final Judgment. See Note 7 for further details of these divestitures. | ||||||
Temple-Inland's results of operations are included in the consolidated financial statements from the date of acquisition on February 13, 2012. | ||||||
The following table summarizes the allocation of the purchase price to the fair value of assets and liabilities acquired as of February 13, 2012, which was finalized in the fourth quarter of 2012. | ||||||
In millions | ||||||
Accounts and notes receivable | $ | 466 | ||||
Inventory | 484 | |||||
Deferred income tax assets – current | 140 | |||||
Other current assets | 57 | |||||
Plants, properties and equipment | 2,911 | |||||
Financial assets of special purpose entities | 2,091 | |||||
Goodwill | 2,139 | |||||
Other intangible assets | 693 | |||||
Deferred charges and other assets | 54 | |||||
Total assets acquired | 9,035 | |||||
Notes payable and current maturities of long-term debt | 130 | |||||
Accounts payable and accrued liabilities | 704 | |||||
Long-term debt | 527 | |||||
Nonrecourse financial liabilities of special purpose entities | 2,030 | |||||
Deferred income tax liability | 1,252 | |||||
Pension benefit obligation | 338 | |||||
Postretirement and postemployment benefit obligation | 99 | |||||
Other liabilities | 221 | |||||
Total liabilities assumed | 5,301 | |||||
Net assets acquired | $ | 3,734 | ||||
The identifiable intangible assets acquired in connection with the Temple-Inland acquisition included the following: | ||||||
In millions | Estimated | Average | ||||
Fair Value | Remaining | |||||
Useful Life | ||||||
Asset Class: | (at acquisition | |||||
date) | ||||||
Customer relationships | $ | 536 | 12-17 years | |||
Developed technology | 8 | 5-10 years | ||||
Tradenames | 109 | Indefinite | ||||
Favorable contracts | 14 | 4-7 years | ||||
Non-compete agreement | 26 | 2 years | ||||
Total | $ | 693 | ||||
In connection with the purchase price allocation, inventories were written up by approximately $20 million before taxes ($12 million after taxes) to their estimated fair value. As the related inventories were sold in the 2012 first quarter, this amount was expensed in Cost of products sold for the quarter. | ||||||
Additionally, Selling and administrative expenses for the years ended December 31, 2013 and 2012 included $62 million before taxes ($38 million after taxes) and $164 million before taxes ($105 million after taxes), respectively, in charges for integration costs associated with the acquisition. | ||||||
The following unaudited pro forma information for the year ended December 31, 2012 represents the results of operations of International Paper as if the Temple-Inland acquisition had occurred on January 1, 2012. This information is based on historical results of operations, adjusted for certain acquisition accounting adjustments and does not purport to represent International Paper’s actual results of operations as if the transaction described above would have occurred as of January 1, 2012, nor is it necessarily indicative of future results. | ||||||
In millions, except per share amounts | 2012 | |||||
Net sales | $ | 28,125 | ||||
Earnings (loss) from continuing operations (a) | 805 | |||||
Net earnings (loss) (a) | 845 | |||||
Diluted earnings (loss) from continuing operations per share (a) | 1.82 | |||||
Diluted net earnings (loss) per share (a) | 1.92 | |||||
(a) Attributable to International Paper Company common shareholders. | ||||||
2011: On October 14, 2011, International Paper completed the acquisition of a 75% stake in Andhra Pradesh Paper Mills Limited (APPM). The Company purchased 53.5% of APPM for a purchase price of $226 million in cash plus assumed debt from private investors. These sellers also entered into a covenant not to compete for which they received a cash payment of $58 million. Additionally, the Company purchased a 21.5% stake of APPM in a public tender offer completed on October 8, 2011 for $105 million in cash. International Paper recognized an unfavorable currency transaction loss of $9 million due to strengthening of the dollar against the Indian Rupee prior to the closing date, resulting from cash balances deposited in Indian Rupee denominated escrow accounts. | ||||||
In November 2011, International Paper appealed a directive from the Securities and Exchange Board of India (SEBI) that would require us to pay to the tendering shareholders the equivalent per share value of the non-compete payment that was paid to the previous controlling shareholders. The Company has deposited approximately $25 million into an escrow account to fund the additional non-compete payments in the event SEBI’s direction is upheld. By an order dated September 12, 2012, the Indian Securities Appellate Tribunal (SAT) upheld the SEBI directive. As a result of this initial unfavorable ruling, International Paper included the $25 million escrowed cash amount in the final purchase price consideration of APPM. On October 8, 2012, International Paper appealed the SAT's decision to the Indian Supreme Court. | ||||||
APPM's results of operations are included in the consolidated financial statements from the date of acquisition on October 14, 2011. | ||||||
The following table summarizes the final allocation of the purchase price to the fair value of assets and liabilities acquired as of October 14, 2011. | ||||||
In millions | ||||||
Cash and temporary investments | $ | 3 | ||||
Accounts and notes receivable | 7 | |||||
Inventory | 43 | |||||
Other current assets | 13 | |||||
Plants, properties and equipment | 352 | |||||
Goodwill | 138 | |||||
Deferred income tax asset | 4 | |||||
Other intangible assets | 91 | |||||
Other long-term assets | 1 | |||||
Total assets acquired | 652 | |||||
Accounts payable and accrued liabilities | 67 | |||||
Long-term debt | 47 | |||||
Other liabilities | 11 | |||||
Deferred income tax liability | 90 | |||||
Total liabilities assumed | 215 | |||||
Noncontrolling interest | 37 | |||||
Net assets acquired | $ | 400 | ||||
The identifiable intangible assets acquired in connection with the APPM acquisition included the following: | ||||||
In millions | Estimated | Average | ||||
Fair Value | Remaining | |||||
Useful Life | ||||||
Asset Class: | (at acquisition | |||||
date) | ||||||
Non-compete agreement | $ | 58 | 6 years | |||
Tradenames | 20 | Indefinite | ||||
Fuel supply agreements | 5 | 2 years | ||||
Power purchase arrangements | 5 | 5 years | ||||
Wholesale distribution network | 3 | 18 years | ||||
Total | $ | 91 | ||||
Pro forma information related to the acquisition of APPM has not been included as it does not have a material effect on the Company’s consolidated results of operations. | ||||||
JOINT VENTURES | ||||||
2013: On January 14, 2013, International Paper and Brazilian corrugated packaging producer, Jari Celulose Papel e Embalagens S.A (Jari), a Grupo Orsa company, formed Orsa International Paper Embalagens S.A. (Orsa IP). The new entity, in which International Paper holds a 75% stake, includes three containerboard mills and four box plants, which make up Jari's former industrial packaging assets. This acquisition supports the Company's strategy of growing its global packaging presence and better serving its global customer base. | ||||||
The value of International Paper's investment in Orsa IP is approximately $471 million. Because International Paper acquired a majority control of the joint venture, Orsa IP's financial results have been consolidated with our Industrial Packaging segment from the date of formation on January 14, 2013. The 25% owned by Jari is considered noncontrolling interest. | ||||||
International Paper follows the guidance issued by the FASB regarding the classification and measurement of redeemable securities. The Share Purchase Agreement related to Orsa IP joint venture contained both a put and a call option that would allow Jari, at the third anniversary of the joint venture formation, to put its remaining shares to IP or allow IP, at the sixth anniversary of the joint venture formation, to call the remaining noncontrolling shares from Jari. Accordingly, the noncontrolling common stock held by Jari would be considered a redeemable noncontrolling interest and meet the requirements to be classified outside of permanent equity and is therefore classified as redeemable noncontrolling interest in the accompanying consolidated balance sheets. The value of redeemable noncontrolling interest is reported at the greater of the redemption value or historical cost at the end of each reporting period. As of December 31, 2013, the Company reported the redeemable noncontrolling interest at the redemption value of $163 million. | ||||||
The following table summarizes the final allocation of the purchase price to the fair value of assets and liabilities acquired as of January 14, 2013, which was completed in the fourth quarter of 2013. | ||||||
In millions | ||||||
Cash and temporary investments | $ | 16 | ||||
Accounts and notes receivable | 5 | |||||
Inventory | 27 | |||||
Plants, properties and equipment | 290 | |||||
Goodwill | 260 | |||||
Other intangible assets | 110 | |||||
Other long-term assets | 2 | |||||
Total assets acquired | 710 | |||||
Accounts payable and accrued liabilities | 68 | |||||
Deferred income tax liability | 37 | |||||
Total liabilities assumed | 105 | |||||
Noncontrolling interest | 134 | |||||
Net assets acquired | $ | 471 | ||||
The identifiable intangible assets acquired in connection with the Orsa IP acquisition included the following: | ||||||
In millions | Estimated | Average | ||||
Fair Value | Remaining | |||||
Useful Life | ||||||
Asset Class: | (at acquisition | |||||
date) | ||||||
Customer relationships | $ | 88 | 12 years | |||
Trademark | 3 | 6 years | ||||
Wood supply agreement | 19 | 25 years | ||||
Total | $ | 110 | ||||
Pro forma information related to the acquisition of Orsa IP has not been included as it does not have a material effect on the Company's consolidated results of operations. | ||||||
Due to the complex organizational structure of Orsa IP's operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the Company reports its share of Orsa IP's operating results on a one-month lag basis. | ||||||
2011: On April 15, 2011, International Paper and Sun Paper Industry Co. Ltd. entered into a Cooperative Joint Venture agreement to establish Shandong IP & Sun Food Packaging Co., Ltd. in China. During December 2011, the business license was obtained and International Paper contributed $55 million in cash for a 55% interest in the joint venture and Sun Paper Industry Co. Ltd. contributed land-use rights valued at approximately $28 million, representing a 45% interest. The purpose of the joint venture is to build and operate a new production line to manufacture coated paperboard for food packaging with a designed annual production capacity of 500,000 tons. The financial position and results of operations of this joint venture have been included in International Paper’s consolidated financial statements from the date of formation in December 2011. | ||||||
Additionally, during 2011 the Company recorded a gain of $7 million (before and after taxes) related to a bargain purchase price adjustment on an acquisition by our joint venture in Turkey. This gain is included in Equity earnings (losses), net of taxes in the accompanying consolidated statement of operations. |
Businesses_Held_For_Sale_Dives
Businesses Held For Sale, Divestitures And Impairments (Note) | 12 Months Ended |
Dec. 31, 2013 | |
Discontinued Operations and Disposal Groups [Abstract] | ' |
Businesses Held For Sale, Divestitures And Impairments [Note Text Block] | ' |
DISCONTINUED OPERATIONS | |
2013: On April 1, 2013, the Company finalized the sale of Temple-Inland's 50% interest in Del-Tin Fiber L.L.C. (Del-Tin) to joint venture partner Deltic Timber Corporation (Deltic) for $20 million in assumed liabilities and cash. | |
On July 19, 2013 the Company finalized the sale of its Temple-Inland Building Products division, which ultimately included 15 manufacturing facilities, to Georgia-Pacific Building Products, LLC for approximately $733 million in cash and amounts to be received for preliminary customary closing adjustments. | |
2012: Upon the acquisition of Temple-Inland, management committed to a plan to sell the Temple-Inland Building Products business, and on December 12, 2012, International Paper reached an agreement to sell the business (including Del-Tin Fiber L.L.C. (Del-Tin)) to Georgia-Pacific for $750 million in cash, subject to satisfaction of customary closing conditions, including satisfactory review by the DOJ, and to certain pre-and post-closing purchase price adjustments. The assets to be sold were to include 16 manufacturing facilities. | |
The operating results of the Temple-Inland Building Products business have been included in Discontinued operations from the date of acquisition. The assets of this business, totaling $759 million at December 31, 2012, are included in Assets of businesses held for sale in current assets in the accompanying consolidated balance sheet at December 31, 2012. Included in this amount are $26 million and $153 million related to goodwill and intangibles, respectively. The liabilities of this business, totaling $44 million at December 31, 2012, are included in Liabilities of businesses held for sale in the accompanying consolidated balance sheet at December 31, 2012. | |
2011: The sale of the Company’s Kraft Papers business that closed in January 2007 contained an earnout provision that could have required KapStone to make an additional payment to International Paper in 2012. Based on the results through the first four years of the earnout period, KapStone concluded that the threshold would be attained and the full earnout payment would be due to International Paper in 2012. On January 3, 2011, International Paper signed an agreement with KapStone to allow KapStone to pay the Company on January 4, 2011, the discounted amount of $50 million before taxes ($30 million after taxes) that otherwise would have been owed in full under the agreement in 2012. This amount has been included in Discontinued operations, net of taxes in the accompanying consolidated statement of operations. | |
In the third quarter of 2006, the Company completed the sale of its Brazilian Coated Papers business and restated its financial statements to reflect this business as a discontinued operation. Included in the results for this business in 2005 and 2006 were local country tax contingency reserves for which the related statute of limitations has now expired. A $15 million tax benefit for the reversal of these reserves plus associated interest income of $6 million before taxes ($4 million after taxes) was recorded in March 2011, and is included in Discontinued operations, net of taxes in the accompanying consolidated statement of operations. | |
OTHER DIVESTITURES AND IMPAIRMENTS | |
2013: During 2013, the Company recorded net pre-tax charges of $3 million ($1 million after taxes) for adjustments related to the divestiture of three containerboard mills in 2012 and the sale of the Shorewood business. This loss is included in Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations. | |
2012: As referenced in Note 6, on July 2, 2012, International Paper finalized the sales of its Ontario and Oxnard (Hueneme), California containerboard mills to New-Indy Containerboard LLC, and its New Johnsonville, Tennessee containerboard mill to Hood Container Corporation. During 2012, the Company recorded pre-tax charges of $29 million ($55 million after taxes) for costs associated with the divestitures of these mills. Also during 2012, in anticipation of the divestiture of the Hueneme mill, a pre-tax charge of $62 million ($38 million after taxes) was recorded to adjust the long-lived assets of the mill to their fair value. | |
The net 2012 loss totaling $86 million related to other divestitures and impairments is included in Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations. | |
2011: On August 22, 2011, International Paper announced that it had signed an agreement to sell its Shorewood business to Atlas Holdings. As a result, during 2011, net pre-tax charges of $207 million (after a $246 million tax benefit and a gain of $8 million related to a noncontrolling interest, a net gain of $47 million) were recorded to reduce the carrying value of the Shorewood business to fair market value. As part of the transaction, International Paper retained a minority interest of approximately 40% in the newly combined AGI-Shorewood business outside the U.S. Since the interest retained represents significant continuing involvement in the operations of the business, the operating results of the Shorewood business were included in continuing operations in the accompanying consolidated statement of operations instead of Discontinued operations. The sale of the U.S. portion of the Shorewood business to Atlas Holdings closed on December 31, 2011. The sale of the remainder of the Shorewood business occurred during January 2012. | |
Also during 2011, the Company recorded charges totaling $11 million (before and after taxes) to further write down the long-lived assets of its Inverurie, Scotland mill to their estimated fair value. | |
The net 2011 loss totaling $218 million related to other divestitures and impairments is included in Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations. |
Supplementary_Financial_Statem
Supplementary Financial Statement Information (Note) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Supplementary Financial Statement Information [Abstract] | ' | |||||||||
Supplementary Financial Statement Information [Note Text Block] | ' | |||||||||
TEMPORARY INVESTMENTS | ||||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
Temporary Investments | $ | 1,398 | $ | 934 | ||||||
ACCOUNTS AND NOTES RECEIVABLE | ||||||||||
Accounts and notes receivable, net of allowances, by classification were: | ||||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
Accounts and notes receivable: | ||||||||||
Trade | $ | 3,497 | $ | 3,316 | ||||||
Other | 259 | 246 | ||||||||
Total | $ | 3,756 | $ | 3,562 | ||||||
INVENTORIES | ||||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
Raw materials | $ | 372 | $ | 360 | ||||||
Finished pulp, paper and packaging products | 1,834 | 1,728 | ||||||||
Operating supplies | 572 | 588 | ||||||||
Other | 47 | 54 | ||||||||
Inventories | $ | 2,825 | $ | 2,730 | ||||||
The last-in, first-out inventory method is used to value most of International Paper’s U.S. inventories. Approximately 75% of total raw materials and finished products inventories were valued using this method. If the first-in, first-out method had been used, it would have increased total inventory balances by approximately $417 million and $381 million at December 31, 2013 and 2012, respectively. | ||||||||||
PLANTS, PROPERTIES AND EQUIPMENT | ||||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
Pulp, paper and packaging facilities | ||||||||||
Mills | $ | 22,105 | $ | 23,625 | ||||||
Packaging plants | 10,163 | 7,184 | ||||||||
Other plants, properties and equipment | 1,478 | 2,074 | ||||||||
Gross cost | 33,746 | 32,883 | ||||||||
Less: Accumulated depreciation | 20,074 | 18,934 | ||||||||
Plants, properties and equipment, net | $ | 13,672 | $ | 13,949 | ||||||
In millions | 2013 | 2012 | 2011 | |||||||
Depreciation expense | $ | 1,423 | $ | 1,399 | $ | 1,263 | ||||
INTEREST | ||||||||||
Cash payments related to interest were as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Interest payments | $ | 751 | $ | 740 | $ | 629 | ||||
Amounts related to interest were as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Interest expense (a) | $ | 669 | $ | 743 | $ | 596 | ||||
Interest income (a) | 57 | 71 | 55 | |||||||
Capitalized interest costs | 17 | 37 | 22 | |||||||
(a) | Interest expense and interest income exclude approximately $45 million, $49 million and $49 million in 2013, 2012 and 2011, respectively, related to investments in and borrowings from variable interest entities for which the Company has a legal right of offset (see Note 12). |
Goodwill_And_Other_Intangibles
Goodwill And Other Intangibles (Note) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Goodwill And Other Intangibles [Note Text Block] | ' | |||||||||||||||||||
GOODWILL | ||||||||||||||||||||
The following tables present changes in the goodwill balances as allocated to each business segment for the years ended December 31, 2013 and 2012: | ||||||||||||||||||||
In millions | Industrial | Printing | Consumer | Distribution | Total | |||||||||||||||
Packaging | Papers | Packaging | ||||||||||||||||||
Balance as of January 1, 2013 | ||||||||||||||||||||
Goodwill | $ | 3,165 | $ | 2,396 | $ | 1,783 | $ | 400 | $ | 7,744 | ||||||||||
Accumulated impairment losses (a) | — | (1,765 | ) | (1,664 | ) | — | (3,429 | ) | ||||||||||||
3,165 | 631 | 119 | 400 | 4,315 | ||||||||||||||||
Reclassifications and other (b) | (28 | ) | (63 | ) | 3 | — | (88 | ) | ||||||||||||
Additions/reductions | 293 | (c) | (22 | ) | (d) | 1 | — | 272 | ||||||||||||
Impairment loss | — | (112 | ) | (e) | — | (400 | ) | (e) | (512 | ) | ||||||||||
Balance as of December 31, 2013 | ||||||||||||||||||||
Goodwill | 3,430 | 2,311 | 1,787 | 400 | 7,928 | |||||||||||||||
Accumulated impairment losses (a) | — | (1,877 | ) | (1,664 | ) | (400 | ) | (3,941 | ) | |||||||||||
Total | $ | 3,430 | $ | 434 | $ | 123 | $ | — | $ | 3,987 | ||||||||||
(a) | Represents accumulated goodwill impairment charges since the adoption of ASC 350, “Intangibles – Goodwill and Other” in 2002. | |||||||||||||||||||
(b) | Represents the effects of foreign currency translations and reclassifications. | |||||||||||||||||||
(c) | Reflects $260 million for Orsa IP, the newly formed joint venture in Brazil and the adjustment of $54 million ($33 million after-tax) previously included as a trade name intangible asset in Deferred Charges and Other Assets on the balance sheet. | |||||||||||||||||||
(d) | Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. | |||||||||||||||||||
(e) | Represents the impairment of goodwill for the India Papers business and xpedx. | |||||||||||||||||||
In millions | Industrial | Printing | Consumer | Distribution | Total | |||||||||||||||
Packaging | Papers | Packaging | ||||||||||||||||||
Balance as of January 1, 2012 | ||||||||||||||||||||
Goodwill | $ | 1,157 | $ | 2,439 | $ | 1,779 | $ | 400 | $ | 5,775 | ||||||||||
Accumulated impairment losses (a) | — | (1,765 | ) | (1,664 | ) | — | (3,429 | ) | ||||||||||||
1,157 | 674 | 115 | 400 | 2,346 | ||||||||||||||||
Reclassifications and other (b) | 1 | (40 | ) | 1 | — | (38 | ) | |||||||||||||
Additions/reductions | 2,007 | (c) | (3 | ) | (d) | 3 | (e) | — | 2,007 | |||||||||||
Balance as of December 31, 2012 | ||||||||||||||||||||
Goodwill | 3,165 | 2,396 | 1,783 | 400 | 7,744 | |||||||||||||||
Accumulated impairment losses (a) | — | (1,765 | ) | (1,664 | ) | — | (3,429 | ) | ||||||||||||
Total | $ | 3,165 | $ | 631 | $ | 119 | $ | 400 | $ | 4,315 | ||||||||||
(a) | Represents accumulated goodwill impairment charges since the adoption of ASC 350, “Intangibles – Goodwill and Other” in 2002. | |||||||||||||||||||
(b) | Represents the effects of foreign currency translations and reclassifications. | |||||||||||||||||||
(c) | Reflects the acquisition of Temple-Inland, net of amounts written off related to the divestiture of two Temple-Inland mills (Ontario, California and New Johnsonville, Tennessee) and one International Paper mill (Oxnard, (Hueneme), California). Also excludes the goodwill for Building Products which was reclassified to Businesses Held for Sale. | |||||||||||||||||||
(d) | Reflects an increase related to a purchase price adjustment of Andhra Pradesh Paper Mills in India partially offset by a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. | |||||||||||||||||||
(e) | Represents the impact of the change in estimate of the contributed land in the Shandong IP & Sun Food Packaging Co., Ltd. joint venture in China entered into in 2011. | |||||||||||||||||||
In the fourth quarter of 2013, in conjunction with the annual testing of its reporting units for possible goodwill impairments, the Company calculated the estimated fair value of its India Papers business using the discounted future cash flows and determined that all of the goodwill of this business, totaling $112 million, should be written off. The decline in the fair value of the India Papers reporting unit and resulting impairment charge was due to a change in the strategic outlook for the India Papers operations. | ||||||||||||||||||||
Also in the fourth quarter of 2013, the Company calculated the estimated fair value of its xpedx business using the discounted future cash flows and wrote off all of the goodwill of its xpedx business, totaling $400 million. The decline in fair value of the xpedx reporting unit and resulting impairment charge was due to a significant decline in earnings and a change in the strategic outlook for the xpedx operations. | ||||||||||||||||||||
As a result, during the fourth quarter of 2013, the Company recorded a total goodwill impairment charge of $512 million, representing all of the recorded goodwill of the xpedx business and the India Papers business. | ||||||||||||||||||||
No goodwill impairment charges were recorded in 2012 or 2011. | ||||||||||||||||||||
OTHER INTANGIBLES | ||||||||||||||||||||
Identifiable intangible assets comprised the following: | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
In millions at | Gross | Accumulated | Gross | Accumulated | ||||||||||||||||
December 31 | Carrying | Amortization | Carrying | Amortization | ||||||||||||||||
Amount | Amount | |||||||||||||||||||
Customer relationships and lists | $ | 602 | $ | 139 | $ | 644 | $ | 112 | ||||||||||||
Non-compete agreements | 76 | 46 | 83 | 30 | ||||||||||||||||
Tradenames, patents and trademarks | 67 | (a) | 33 | 144 | 16 | |||||||||||||||
Land and water rights | 76 | 5 | 87 | 6 | ||||||||||||||||
Fuel and power agreements | 7 | 2 | 17 | 12 | ||||||||||||||||
Software | 17 | 15 | 22 | 19 | ||||||||||||||||
Other | 75 | 32 | 83 | 19 | ||||||||||||||||
Total | $ | 920 | $ | 272 | $ | 1,080 | $ | 214 | ||||||||||||
(a) | Includes $15 million recorded to write-off a tradename intangible asset of the Company's India Papers business. This amount is included in Impairment of goodwill and other intangibles in the accompanying consolidated statement of operations. | |||||||||||||||||||
The Company recognized the following amounts as amortization expense related to intangible assets: | ||||||||||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||||||||||
Amortization expense related to intangible assets | $ | 87 | $ | 58 | $ | 32 | ||||||||||||||
Based on current intangibles subject to amortization, estimated amortization expense for each of the succeeding years is as follows: 2014 – $60 million, 2015 – $59 million, 2016 – $58 million, 2017 – $56 million, 2018 – $50 million, and cumulatively thereafter – $365 million. |
Income_Taxes_Note
Income Taxes (Note) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes [Note 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 millions | 2013 | 2012 | 2011 | ||||||||||
Earnings (loss) | |||||||||||||
U.S. | $ | 394 | $ | 478 | $ | 874 | |||||||
Non-U.S. | 455 | 546 | 584 | ||||||||||
Earnings (loss) from continuing operations before income taxes and equity earnings | $ | 849 | $ | 1,024 | $ | 1,458 | |||||||
The provision (benefit) for income taxes (excluding noncontrolling interests) by taxing jurisdiction was as follows: | |||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||
Current tax provision (benefit) | |||||||||||||
U.S. federal | $ | (697 | ) | $ | 14 | $ | (78 | ) | |||||
U.S. state and local | (95 | ) | 11 | (19 | ) | ||||||||
Non-U.S. | 123 | 102 | 91 | ||||||||||
$ | (669 | ) | $ | 127 | $ | (6 | ) | ||||||
Deferred tax provision (benefit) | |||||||||||||
U.S. federal | $ | 186 | $ | 226 | $ | 207 | |||||||
U.S. state and local | (21 | ) | 6 | 46 | |||||||||
Non-U.S. | (19 | ) | (28 | ) | 64 | ||||||||
$ | 146 | $ | 204 | $ | 317 | ||||||||
Income tax provision | $ | (523 | ) | $ | 331 | $ | 311 | ||||||
The Company’s deferred income tax provision (benefit) includes a $7 million provision, a $25 million provision and a $8 million benefit for 2013, 2012 and 2011, respectively, for the effect of changes in non-U.S. and U.S. state tax rates. | |||||||||||||
International Paper made income tax payments, net of refunds, of $291 million, $95 million and $44 million in 2013, 2012 and 2011, respectively. | |||||||||||||
A reconciliation of income tax expense using the statutory U.S. income tax rate compared with the actual income tax provision follows: | |||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||
Earnings (loss) from continuing | $ | 849 | $ | 1,024 | $ | 1,458 | |||||||
operations before income taxes | |||||||||||||
and equity earnings | |||||||||||||
Statutory U.S. income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Tax expense (benefit) using statutory U.S. income tax rate | 297 | 358 | 510 | ||||||||||
State and local income taxes | (4 | ) | 11 | 16 | |||||||||
Tax rate and permanent differences on non-U.S. earnings | (90 | ) | (116 | ) | (34 | ) | |||||||
Net U.S. tax on non-U.S. dividends | (15 | ) | 48 | 23 | |||||||||
Tax benefit on manufacturing activities | (27 | ) | (15 | ) | (8 | ) | |||||||
Non-deductible business expenses | 4 | 7 | 6 | ||||||||||
Non-deductible goodwill | 147 | 34 | — | ||||||||||
Tax Audits | (770 | ) | — | — | |||||||||
Sales of non-strategic businesses | — | — | (195 | ) | |||||||||
Retirement plan dividends | (5 | ) | (5 | ) | (5 | ) | |||||||
Tax basis adjustments | (33 | ) | — | — | |||||||||
Tax credits | (23 | ) | — | (7 | ) | ||||||||
Medicare subsidy | — | 5 | — | ||||||||||
Other, net | (4 | ) | 4 | 5 | |||||||||
Income tax provision | $ | (523 | ) | $ | 331 | $ | 311 | ||||||
Effective income tax rate | (62 | )% | 32 | % | 21 | % | |||||||
The tax effects of significant temporary differences, representing deferred income tax assets and liabilities at December 31, 2013 and 2012, were as follows: | |||||||||||||
In millions | 2013 | 2012 | |||||||||||
Deferred income tax assets: | |||||||||||||
Postretirement benefit accruals | $ | 193 | $ | 229 | |||||||||
Pension obligations | 725 | 1,620 | |||||||||||
Alternative minimum and other tax credits | 515 | 752 | |||||||||||
Net operating loss carryforwards | 610 | 579 | |||||||||||
Compensation reserves | 281 | 242 | |||||||||||
Other | 284 | 406 | |||||||||||
Gross deferred income tax assets | 2,608 | 3,828 | |||||||||||
Less: valuation allowance | (413 | ) | (400 | ) | |||||||||
Net deferred income tax asset | $ | 2,195 | $ | 3,428 | |||||||||
Deferred income tax liabilities: | |||||||||||||
Intangibles | $ | (304 | ) | $ | (378 | ) | |||||||
Plants, properties and equipment | (2,919 | ) | (3,126 | ) | |||||||||
Forestlands and related installment sales | (2,307 | ) | (2,511 | ) | |||||||||
Gross deferred income tax liabilities | $ | (5,530 | ) | $ | (6,015 | ) | |||||||
Net deferred income tax liability | $ | (3,335 | ) | $ | (2,587 | ) | |||||||
Deferred income tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions Deferred income tax assets, Deferred charges and other assets, Other accrued liabilities, and Deferred income taxes. The acquisition of Temple-Inland in 2012 resulted in additional deferred tax assets of $600 million and deferred income tax liabilities of $1.8 billion. In addition, there is a decrease in deferred income tax assets principally relating to the tax impact of changes in qualified pension liabilities. Deferred tax liabilities decreased primarily due to the recognition of an installment sale and book depreciation in excess of tax depreciation. Certain tax attributes reflected on our tax returns as filed differ significantly from those reflected in the deferred income tax accounts due to uncertain tax benefits. | |||||||||||||
The valuation allowance for deferred income tax assets as of December 31, 2013 was $413 million. The net change in the total valuation allowance for the year ended December 31, 2013 was an increase of $13 million. The increase is primarily attributable to non-U.S. net operating losses that the Company currently does not foresee utilizing within the statutory carryforward period. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||
Balance at January 1 | $ | (972 | ) | $ | (857 | ) | $ | (199 | ) | ||||
(Additions) reductions based on tax positions related to current year | (22 | ) | 12 | (2 | ) | ||||||||
Additions for tax positions of prior years | (29 | ) | (140 | ) | (719 | ) | |||||||
Reductions for tax positions of prior years | 824 | 6 | 29 | ||||||||||
Settlements | 26 | 2 | 2 | ||||||||||
Expiration of statutes of | 11 | 7 | 25 | ||||||||||
limitations | |||||||||||||
Currency translation adjustment | 1 | (2 | ) | 7 | |||||||||
Balance at December 31 | $ | (161 | ) | $ | (972 | ) | $ | (857 | ) | ||||
Included in the balance at December 31, 2013, 2012 and 2011 are $1 million, $14 million and $9 million, respectively, for tax positions for which the ultimate benefits are highly certain, but for which there is uncertainty about the timing of such benefits. However, except for the possible effect of any penalties, any disallowance that would change the timing of these benefits would not affect the annual effective tax rate, but would accelerate the payment of cash to the taxing authority to an earlier period. | |||||||||||||
The Company accrues interest on unrecognized tax benefits as a component of interest expense. Penalties, if incurred, are recognized as a component of income tax expense. The Company had approximately $54 million and $104 million accrued for the payment of estimated interest and penalties associated with unrecognized tax benefits at December 31, 2013 and 2012, respectively. | |||||||||||||
The major jurisdictions where the Company files income tax returns are the United States, Brazil, France, Poland and Russia. Generally, tax years 2002 through 2012 remain open and subject to examination by the relevant tax authorities. The Company is typically engaged in various tax examinations at any given time, both in the United States and overseas. In 2013, the Company concluded its examination with the U.S. Internal Revenue Service for the tax years 2006 through 2009 for both International Paper Company and Temple-Inland. As a result of the completion of the examinations, the Company reduced its unrecognized tax benefits by approximately $844 million. Other pending audit settlements and the expiration of statute of limitations could further reduce the uncertain tax positions by $4 million during the next twelve months. While the Company believes that it is adequately accrued for possible audit adjustments, the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates. | |||||||||||||
Included in the Company’s 2013, 2012 and 2011 income tax provision (benefit) are $(924) million, $(85) million and $(266) million, respectively, related to special items. The components of the net provisions related to special items were as follows: | |||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||
Special items | $ | (151 | ) | $ | (104 | ) | $ | (293 | ) | ||||
Tax-related adjustments: | |||||||||||||
Internal restructurings | (4 | ) | 14 | 24 | |||||||||
India deal costs | — | — | 9 | ||||||||||
IP UK valuation allowance release | — | — | (13 | ) | |||||||||
Settlement of tax audits and legislative changes | (770 | ) | — | 5 | |||||||||
Medicare D deferred income tax write-off | — | 5 | — | ||||||||||
Other tax adjustments | 1 | — | 2 | ||||||||||
Income tax provision (benefit) related to special items | $ | (924 | ) | $ | (85 | ) | $ | (266 | ) | ||||
Excluding the impact of special items and nonoperating pension expense, the 2013, 2012 and 2011 income tax provisions were $527 million, $456 million and $591 million, respectively, or 27%, 29% and 32%, respectively, of pre-tax earnings before equity earnings. | |||||||||||||
The following details the scheduled expiration dates of the Company’s net operating loss and income tax credit carryforwards: | |||||||||||||
In millions | 2014 | 2024 | Indefinite | Total | |||||||||
Through | Through | ||||||||||||
2023 | 2033 | ||||||||||||
U.S. federal and non-U.S. NOLs | $ | 21 | $ | 3 | $ | 400 | $ | 424 | |||||
State taxing jurisdiction NOLs | 152 | 120 | — | 272 | |||||||||
U.S. federal, non- | 117 | 31 | 454 | 602 | |||||||||
U.S. and state tax credit carryforwards | |||||||||||||
State capital loss carryforwards | 23 | — | — | 23 | |||||||||
Total | $ | 313 | $ | 154 | $ | 854 | $ | 1,321 | |||||
Deferred income taxes are not provided for temporary differences of approximately $5.1 billion, $4.7 billion and $4.5 billion as of December 31, 2013, 2012 and 2011, respectively, representing earnings of non-U.S. subsidiaries intended to be permanently reinvested. Computation of the potential deferred tax liability associated with these undistributed earnings and other basis differences is not practicable. | |||||||||||||
The American Taxpayer Relief Act of 2012 (the “Act”) was signed into law on January 2, 2013. The Act retroactively restored several expired business tax provisions, including the research and experimentation credit and the Subpart F controlled foreign corporation look-through exception. Because a change in tax law is accounted for in the period of enactment, the retroactive effect of the Act on the Company's U.S. federal taxes for 2012 of a benefit of approximately $32 million was recognized in the first quarter of 2013. |
Commitments_And_Contingent_Lia
Commitments And Contingent Liabilities (Note) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||
Commitments And Contingent Liabilities [Note Text Block] | ' | ||||||||||||||||||
PURCHASE COMMITMENTS AND OPERATING LEASES | |||||||||||||||||||
Certain property, machinery and equipment are leased under cancelable and non-cancelable agreements. | |||||||||||||||||||
Unconditional purchase obligations have been entered into in the ordinary course of business, principally for capital projects and the purchase of certain pulpwood, logs, wood chips, raw materials, energy and services, including fiber supply agreements to purchase pulpwood that were entered into concurrently with the Company’s 2006 Transformation Plan forestland sales and in conjunction with the 2008 acquisition of Weyerhaeuser Company’s Containerboard, Packaging and Recycling business. | |||||||||||||||||||
At December 31, 2013, total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: | |||||||||||||||||||
In millions | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | |||||||||||||
Lease obligations | $ | 171 | $ | 133 | $ | 97 | $ | 74 | $ | 59 | $ | 162 | |||||||
Purchase obligations (a) | 3,170 | 770 | 642 | 529 | 453 | 2,404 | |||||||||||||
Total | $ | 3,341 | $ | 903 | $ | 739 | $ | 603 | $ | 512 | $ | 2,566 | |||||||
(a) | Includes $3.3 billion relating to fiber supply agreements entered into at the time of the Company’s 2006 Transformation Plan forestland sales and in conjunction with the 2008 acquisition of Weyerhaeuser Company’s Containerboard, Packaging and Recycling business. | ||||||||||||||||||
Rent expense was $215 million, $231 million and $205 million for 2013, 2012 and 2011, respectively. | |||||||||||||||||||
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 subject to reasonable estimation, accrued liabilities are recorded at the time of sale as a cost of the transaction. | |||||||||||||||||||
ENVIRONMENTAL PROCEEDINGS | |||||||||||||||||||
International Paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws, including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). 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 potential responsible parties. Remedial 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 matters to be approximately $94 million in the aggregate at December 31, 2013. | |||||||||||||||||||
Cass Lake: One of the matters referenced above is a closed wood treating facility located in Cass Lake, Minnesota. During 2009, in connection with an environmental site remediation action under CERCLA, International Paper submitted to the EPA a site remediation feasibility study. In June 2011, the EPA selected and published a proposed soil remedy at the site with an estimated cost of $46 million. The overall remediation reserve for the site is currently $51 million to address this selection of an alternative for the soil remediation component of the overall site remedy. In October 2011, the EPA released a public statement indicating that the final soil remedy decision would be delayed. In the unlikely event that the EPA changes its proposed soil remedy and approves instead a more expensive clean-up alternative, the remediation costs could be material, and significantly higher than amounts currently recorded. In October 2012, the Natural Resource Trustees for this site provided notice to International Paper and other potentially responsible parties of their intent to perform a Natural Resource Damage Assessment. It is premature to predict the outcome of the assessment or to estimate a loss or range of loss, if any, which may be incurred. | |||||||||||||||||||
Other: In addition to the above matters, other remediation costs typically associated with the cleanup of hazardous substances at the Company’s current, closed or formerly-owned facilities, and recorded as liabilities in the balance sheet, totaled approximately $42 million at December 31, 2013. Other than as described above, completion of required remedial actions is not expected to have a material effect on our consolidated financial statements. | |||||||||||||||||||
Kalamazoo River: The Company is a potentially responsible party with respect to the Allied Paper, Inc./Portage Creek/Kalamazoo River Superfund Site (Kalamazoo River Superfund Site) in Michigan. The EPA asserts that the site is contaminated primarily by PCBs 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. The Company has not received any orders from the EPA with respect to the site and continues to collect information from the EPA and other parties relative to the site to evaluate the extent of its liability, if any, with respect to the site. Accordingly, it is premature to estimate a loss or range of loss with respect to this site. | |||||||||||||||||||
Also in connection with the Kalamazoo River Superfund Site, the Company was named as a defendant by Georgia-Pacific Consumer Products LP, Fort James Corporation and Georgia Pacific LLC in a contribution and cost recovery action for alleged pollution at the site. The suit seeks contribution under CERCLA for $79 million in costs purportedly expended by plaintiffs as of the filing of the complaint and for future remediation costs. The suit alleges that a mill, during the time it was allegedly owned and operated by St. Regis, discharged PCB contaminated solids and paper residuals resulting from paper de-inking and recycling. Also named as defendants in the suit are NCR Corporation and Weyerhaeuser Company. In mid-2011, the suit was transferred from the District Court for the Eastern District of Wisconsin to the District Court for the Western District of Michigan. The trial of the initial liability phase took place in February 2013. Weyerhaeuser conceded prior to trial that it was a liable party with respect to the site. In September 2013, an opinion and order was issued in the suit. The order concluded that the Company (as the successor to St. Regis) was not an “operator,” but was an “owner,” of the mill at issue during a portion of the relevant period and is therefore liable under CERCLA. The order also determined that NCR is a liable party as an "arranger for disposal" of PCBs in waste paper that was de-inked and recycled by mills along the Kalamazoo River. The order did not address the Company's responsibility, if any, for costs for which plaintiffs in the suit are seeking recovery. This will be the subject of a separate trial, which has been set for July 2015. The Company thus believes it is premature to predict the outcome or to estimate a loss or range of loss, if any, which may be incurred. | |||||||||||||||||||
Harris County: International Paper and McGinnis Industrial Maintenance Corporation, a subsidiary of Waste Management, Inc., are potentially responsible parties at the San Jacinto River Waste Pits Superfund Site (San Jacinto Superfund Site) in Harris County, Texas, and have been actively participating in investigation and remediation activities at this Superfund Site. In December 2011, Harris County, Texas filed a suit against the Company in Harris County District Court seeking civil penalties with regard to the alleged discharge of dioxin into the San Jacinto River since 1965 from waste impoundments that are part of the San Jacinto River Superfund Site. Also named as defendants in this action are McGinnis Industrial Maintenance Corporation, Waste Management, Inc. and Waste Management of Texas, Inc. Harris County is seeking civil penalties pursuant to the Texas Water Code, which provides for the imposition of civil penalties between $50 and $25,000 per day. The case is in the discovery phase and it is therefore premature to predict the outcome or to estimate our maximum reasonably possible loss. However, we do not believe that any material loss is probable. | |||||||||||||||||||
In October 2012, a civil lawsuit was filed against the same defendants, including the Company, in the District Court of Harris County by what are now in excess of 500 plaintiffs seeking medical monitoring and damages with regard to the alleged discharge of dioxin into the San Jacinto River since 1965 from waste impoundments that are a part of the San Jacinto Superfund Site. This case is in the discovery phase and it is therefore premature to predict the outcome or to estimate a loss or range of loss, if any, which may be incurred. In December 2012, residents of an up-river neighborhood filed a civil action against the same defendants, including the Company, in the District Court of Harris County alleging property damage and personal injury from the alleged discharge of dioxin into the San Jacinto River from the San Jacinto Superfund Site. This case is in the discovery phase and it is therefore premature to predict the outcome or to estimate a loss or range of loss, if any, which may be incurred. | |||||||||||||||||||
Bogalusa: In August 2011, Temple-Inland's Bogalusa, Louisiana paper mill experienced an upset condition that resulted in fish kill on the Pearl River (the Bogalusa Incident). Louisiana and Mississippi state regulatory agencies and the U.S. Department of Justice (the DOJ) initiated enforcement actions against Temple-Inland as a result of the Bogalusa Incident. We have resolved the Louisiana and Mississippi enforcement matters and paid approximately $3 million in penalties. | |||||||||||||||||||
The DOJ investigation into the Bogalusa Incident was resolved in the second quarter of 2013 upon federal court approval of a criminal plea agreement between Temple-Inland subsidiary, TIN Inc., and the DOJ. Under the plea agreement, TIN Inc. pleaded guilty to two misdemeanor environmental offenses, paid a $3.3 million financial penalty, and agreed to a two-year corporate probation period. | |||||||||||||||||||
In late 2013, the Louisiana Department of Environmental Quality (LDEQ) and TIN Inc. reached a settlement, subject to State Attorney General approval, to resolve a LDEQ enforcement arising from (1) alleged environmental violations identified in an LDEQ environmental audit conducted immediately after the Bogalusa Incident, and (2) air permit deviations self-disclosed by the mill in 2012. Pursuant to the settlement, TIN Inc. will pay $125,000 to fund a beneficial improvement project. | |||||||||||||||||||
In December 2013, the district attorney for Washington Parish, in which Bogalusa is located, filed a lawsuit alleging that there are additional damages that were not resolved by a November 2011 settlement between TIN Inc. and the Louisiana Fish and Wildlife Department (LDWF). That settlement resolved a LDWF claim for wildlife injury damages arising from the Bogalusa Incidents and the validity of the settlement was upheld by the Louisiana Supreme Court. We believe that the new suit is without merit and we are vigorously defending our position. | |||||||||||||||||||
Temple-Inland (or its affiliates) was a defendant in 28 civil lawsuits in Louisiana and Mississippi related to the Bogalusa Incident. Fifteen of these civil cases were filed in Louisiana state court shortly after the incident and were removed and consolidated in an action pending in the U.S. District Court for the Eastern District of Louisiana along with a civil case originally filed in that court. During August 2012, an additional 13 causes of action were filed in federal or state court in Mississippi and Louisiana. In October 2012, International Paper and the Plaintiffs' Steering Committee, the group of attorneys appointed by the Louisiana federal court to organize and coordinate the efforts of all the plaintiffs in this litigation, reached a tentative understanding on key structural terms and an amount for resolution of the litigation. The court granted preliminary approval for the proposed class action settlement on December 26, 2012. There were no opt-outs and four objections which were all later withdrawn. The Fairness Hearing was held July 10, 2013, and the court issued its Final Order and Judgment Approving Class Action Settlement the same day. Under the terms of the settlement agreement, the class action settlement was deemed final on August 9, 2013. We funded the settlement in September 2013. This settlement did not have a material effect on the Company's consolidated financial statements. | |||||||||||||||||||
LEGAL PROCEEEDINGS | |||||||||||||||||||
Antitrust: In September 2010, eight containerboard producers, including International Paper and Temple-Inland, were named as defendants in a purported class action complaint that alleged a civil violation of Section 1 of the Sherman Act. The suit is captioned Kleen Products LLC v. Packaging Corp. of America (N.D. Ill.). The complaint alleges that the defendants, beginning in August 2005 through November 2010, conspired to limit the supply and thereby increase prices of containerboard products. The alleged class is all persons who purchased containerboard products directly from any defendant for use or delivery in the United States during the period August 2005 to the present. The complaint seeks to recover an unspecified amount of treble actual damages and attorney’s fees on behalf of the purported class. Four similar complaints were filed and have been consolidated in the Northern District of Illinois. Moreover, in January 2011, International Paper was named as a defendant in a lawsuit filed in state court in Cocke County, Tennessee alleging that International Paper violated Tennessee law by conspiring to limit the supply and fix the prices of containerboard from mid-2005 to the present. Plaintiffs in the state court action seek certification of a class of Tennessee indirect purchasers of containerboard products, damages and costs, including attorneys’ fees. The Company disputes the allegations made and intends to vigorously defend each action. However, because both actions are in the preliminary stages, we are unable to predict an outcome or estimate a range of reasonably possible loss. | |||||||||||||||||||
Beginning in late December 2012, certain purchasers of gypsum board filed a number of purported class action complaints alleging civil violations of Section 1 of the Sherman Act against Temple-Inland and a number of other gypsum manufacturers. The complaints were similar and alleged that the gypsum manufacturers conspired or otherwise reached agreements to: (1) raise prices of gypsum board either from 2008 or 2011 through the present; (2) avoid price erosion by ceasing the practice of issuing job quotes; and (3) restrict supply through downtime and limit order fulfillment. The alleged classes are all persons who purchased gypsum board and/or gypsum finishing products directly or indirectly from any defendant. The complainants seek to recover unspecified treble actual damages and attorneys' fees on behalf of the purported classes. On April 8, 2013, the Judicial Panel on Multidistrict Litigation ordered transfer of all pending cases to the U.S. District Court for the Eastern District of Pennsylvania for coordinated and consolidated pretrial proceedings, and the direct purchaser plaintiffs and indirect purchaser plaintiffs filed their respective amended consolidated complaints in June 2013. The amended consolidated complaints allege a conspiracy or agreement beginning in or before September 2011. The Company disputes the allegations made and intends to vigorously defend the consolidated actions. In addition, in September 2013, purported class actions were filed in courts in Quebec, Canada and Ontario, Canada, with each suit alleging violations of the Canadian Competition Act and seeking damages and injunctive relief. The Company intends to dispute the allegations made and to vigorously defend the litigation. Because the U.S. cases are in the discovery phase and the Canadian cases are in a preliminary stage, we are unable to predict an outcome or estimate our maximum reasonably possible loss. However, we do not believe that any material loss is probable. | |||||||||||||||||||
Guaranty Bank: As we have previously disclosed, Temple-Inland was named as a defendant in a lawsuit captioned North Port Firefighters’ Pension v. Temple-Inland Inc., filed in November 2011 in the United States District Court for the Northern District of Texas and subsequently amended. The lawsuit alleges a class action against Temple-Inland and certain individual defendants contending that Temple-Inland misrepresented the financial condition of Guaranty Financial Group during the period December 12, 2007 through August 24, 2009. On June 20, 2012, all defendants in the lawsuit filed motions to dismiss the amended complaint. On March 28, 2013, the district court granted Temple-Inland's and the individual defendants' motions to dismiss without prejudice. On April 26, 2013, the plaintiff filed a Second Amended Complaint that asserted claims against the individual defendants, but did not assert any claims against Temple-Inland. On July 30, 2013, the district court dismissed the Second Amended Complaint filed against the individual defendants with prejudice, also noting that since the plaintiff did not seek the court's leave to amend its complaint with respect to the claims against Temple-Inland, all claims against Temple-Inland were dismissed with prejudice. On August 27, 2013, the plaintiff filed a notice of appeal of the district court's ruling. | |||||||||||||||||||
Certain of the individual defendants in the North Port litigation have requested advancement of their costs of defense from Temple-Inland and have asserted a right to indemnification by Temple-Inland. We believe that all or part of these defense costs would be covered losses under Temple-Inland's directors and officers insurance. The carriers under the applicable policies have been notified of the claims and each has responded with a reservations of rights letter. | |||||||||||||||||||
Tax: The Company is currently being challenged by Brazilian tax authorities concerning the statute of limitations related to the use of certain tax credits. The Company is appealing an unfavorable March 2012 administrative court ruling. The potential loss to the Company in the event of a final unfavorable outcome is approximately $29 million. | |||||||||||||||||||
General: The Company is involved in various other inquiries, administrative proceedings and litigation relating to environmental and safety matters, contracts, sales of property, intellectual property, personal injury, labor and employment and other matters, some of which allege substantial monetary damages. While any proceeding or litigation has the element of uncertainty, the Company believes that the outcome of any of the lawsuits or claims that are pending or threatened or all of them combined (other than those that cannot be assessed due to their preliminary nature) will not have a material effect on its consolidated financial statements. |
Variable_Interest_Entities_And
Variable Interest Entities And Preferred Securities Of Subsidiaries (Note) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Variable Interest Entities And Preferred Securities Of Subsidiaries [Abstract] | ' | |||||||||
Variable Interest Entities And Preferred Securities Of Subsidiaries [Note Text Block] | ' | |||||||||
VARIABLE INTEREST ENTITIES | ||||||||||
In connection with the 2006 sale of approximately 5.6 million acres of forestlands, International Paper received installment notes (the Timber Notes) totaling approximately $4.8 billion. The Timber Notes, which do not require principal payments prior to their August 2016 maturity, are supported by irrevocable letters of credit obtained by the buyers of the forestlands. | ||||||||||
During 2006, International Paper contributed the Timber Notes to newly formed entities (the Borrower Entities) in exchange for Class A and Class B interests in these entities. Subsequently, International Paper contributed its $200 million Class A interests in the Borrower Entities, along with approximately $400 million of International Paper promissory notes, to other newly formed entities (the Investor Entities, and together with the Borrower Entities, the Entities) in exchange for Class A and Class B interests in these entities, and simultaneously sold its Class A interest in the Investor Entities to a third party investor. As a result, at December 31, 2006, International Paper held Class B interests in the Borrower Entities and Class B interests in the Investor Entities valued at approximately $5.0 billion. International Paper did not provide any financial support that was not previously contractually required for the years ended December 31, 2013, 2012 or 2011. | ||||||||||
Following the 2006 sale of forestlands and creation of the Entities discussed above, the Timber Notes were used as collateral for borrowings from third party lenders, which effectively monetized the Timber Notes. Provisions of certain loan agreements require any bank issuing letters of credit supporting the Timber Notes to maintain a credit rating above a specified threshold. In the event the credit rating of a letter of credit bank is downgraded below the specified threshold, the letters of credit must be replaced within 60 days by letters of credit from a qualifying institution, or for one letter of credit bank, collateral must be posted. The Company, retained to provide management services for the third-party entities that hold the Timber Notes, has, as required by the loan agreements, successfully replaced banks that fell below the specified threshold or obtained a waiver as further discussed below. | ||||||||||
Also during 2006, the Entities acquired approximately $4.8 billion of International Paper debt obligations for cash, resulting in a total of approximately $5.2 billion of International Paper debt obligations held by the Entities at December 31, 2006. The various agreements entered into in connection with these transactions provide that International Paper has, and intends to effect, a legal right to offset its obligation under these debt instruments with its investments in the Entities. Accordingly, for financial reporting purposes, International Paper has offset approximately $5.2 billion of Class B interests in the Entities against $5.3 billion of International Paper debt obligations held by these Entities at December 31, 2013 and 2012. Despite the offset treatment, these remain debt obligations of International Paper. Remaining borrowings of $67 million and $79 million at December 31, 2013 and 2012, respectively, are included in floating rate notes due 2013 – 2017 in the summary of long-term debt in Note 13. Additional debt related to the above transaction of $79 million is included in short-term notes in the summary of long-term debt in Note 13 at December 31, 2013 and 2012. | ||||||||||
On October 7, 2011, Moody’s Investor Services reduced its credit rating of senior unsecured long-term debt of the Royal Bank of Scotland Group Plc, which issued letters of credit that support $1.6 billion of the Timber Notes, below the specified threshold. Letters of credit worth $842 million were successfully replaced by other qualifying institutions. Fees of $5 million were incurred in connection with these replacements. The Company and third-party managing member instituted a replacement waiver for the remaining $797 million. On July 25, 2012, these letters of credit were successfully replaced by another qualifying institution. In the event the credit rating of the letter of credit bank is downgraded below a specified threshold, the new bank is required to provide credit support for its obligation. Fees of $5 million were incurred in connection with this replacement. | ||||||||||
On November 29, 2011, Standard and Poor's reduced its credit rating of senior unsecured long-term debt of Lloyds TSB Bank Plc, which issued letters of credit that support $1.2 billion of the Timber Notes, below the specified threshold. The letters of credit were successfully replaced by another qualifying institution. Fees of $4 million were incurred in connection with this replacement. | ||||||||||
On January 23, 2012, Standard and Poor's reduced its credit rating of senior unsecured long-term debt of Société Générale SA, which issued letters of credit that support $666 million of the Timber Notes, below the specified threshold. The letters of credit were successfully replaced by another qualifying institution. Fees of $5 million were incurred in connection with this replacement. | ||||||||||
On June 21, 2012, Moody's Investor Services reduced its credit rating of senior unsecured long-term debt of BNP Paribas, which issued letters of credit that support $707 million of Timber Notes, below the specified threshold. On December 19, 2012, the Company and the third-party managing member agreed to a continuing replacement waiver for these letters of credit, terminable upon 30 days notice. | ||||||||||
Activity between the Company and the Entities was as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Revenue (loss) (a) | $ | 45 | $ | 49 | $ | 49 | ||||
Expense (a) | 79 | 90 | 79 | |||||||
Cash receipts (b) | 33 | 36 | 28 | |||||||
Cash payments (c) | 84 | 87 | 79 | |||||||
(a) | The net expense related to the Company’s interest in the Entities is included in Interest expense, net in the accompanying consolidated statement of operations, as International Paper has and intends to effect its legal right to offset as discussed above. | |||||||||
(b) | The cash receipts are equity distributions from the Entities to International Paper. | |||||||||
(c) | The semi-annual payments are related to interest on the associated debt obligations discussed above. | |||||||||
Based on an analysis of the Entities discussed above under guidance that considers the potential magnitude of the variability in the structures and which party has a controlling financial interest, International Paper determined that it is not the primary beneficiary of the Entities, and therefore, should not consolidate its investments in these entities. It was also determined that the source of variability in the structure is the value of the Timber Notes, the assets most significantly impacting the structure’s economic performance. The credit quality of the Timber Notes is supported by irrevocable letters of credit obtained by third-party buyers which are 100% cash collateralized. International Paper analyzed which party has control over the economic performance of each entity, and concluded International Paper does not have control over significant decisions surrounding the Timber Notes and letters of credit and therefore is not the primary beneficiary. The Company’s maximum exposure to loss equals the value of the Timber Notes; however, an analysis performed by the Company concluded the likelihood of this exposure is remote. | ||||||||||
International Paper also held variable interests in two financing entities that were used to monetize long-term notes received from the sale of forestlands in 2001 and 2002. International Paper transferred notes (the Monetized Notes, with an original maturity of 10 years from inception) and cash of approximately $1.0 billion to these entities in exchange for preferred interests, and accounted for the transfers as a sale of the notes with no associated gain or loss. In the same period, the entities acquired approximately $1.0 billion of International Paper debt obligations for cash. International Paper has no obligation to make any further capital contributions to these entities and did not provide any financial support that was not previously contractually required during the years ended December 31, 2013, 2012 or 2011. | ||||||||||
The 2001 Monetized Notes of $499 million matured on March 16, 2011. Following their maturity, International Paper purchased the Class A preferred interest in the 2001 financing entities from an external third-party for $21 million. As a result of the purchase, effective March 16, 2011, International Paper owned 100% of the 2001 financing entities. Based on an analysis performed by the Company after the purchase, under guidance that considers the potential magnitude of the variability in the structure and which party has a controlling financial interest, International Paper determined that it was the primary beneficiary of the 2001 financing entities and thus consolidated the entities effective March 16, 2011. Effective April 30, 2011, International Paper liquidated its interest in the 2001 financing entities. Activity between the Company and the 2001 financing entities during 2011 was immaterial. | ||||||||||
Activity between the Company and the 2002 financing entities was as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Revenue (loss) (a) | $ | — | $ | — | $ | 2 | ||||
Expense (b) | — | — | 3 | |||||||
Cash receipts (c) | — | 252 | 192 | |||||||
Cash payments (d) | — | 159 | 244 | |||||||
(a) | The revenue is included in Equity earnings (loss), net of tax in the accompanying consolidated statement of operations. | |||||||||
(b) | The expense is included in Interest expense, net in the accompanying consolidated statement of operations. | |||||||||
(c) | The cash receipts are equity distributions from the 2002 financing entities to International Paper and cash receipts from the maturity of the 2002 Monetized Notes. | |||||||||
(d) | The cash payments include both interest and principal on the associated debt obligations. | |||||||||
On May 31, 2011, the third-party equity holder of the 2002 financing entities retired its Class A interest in the entities for $51 million. As a result of the retirement, effective May 31, 2011, International Paper owned 100% of the 2002 financing entities. Based on an analysis performed by the Company after the retirement, under guidance that considers the potential magnitude of the variability in the structure and which party has controlling financial interest, International Paper determined that it was the primary beneficiary of the 2002 financing entities and thus consolidated the entities effective May 31, 2011. | ||||||||||
During 2011, $191 million of the 2002 Monetized Notes matured. During 2012, $252 million of the 2002 Monetized Notes matured. Cash receipts upon maturity were used to pay the associated debt obligations. Effective June 1, 2012, International Paper liquidated its interest in the 2002 financing entities. | ||||||||||
The use of the above entities facilitated the monetization of the credit enhanced Timber and Monetized Notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate while continuing to preserve the tax deferral that resulted from the forestlands installment sales and the offset accounting treatment described above. | ||||||||||
In connection with the acquisition of Temple-Inland in February 2012, two special purpose entities became wholly-owned subsidiaries of International Paper. | ||||||||||
In October 2007, Temple-Inland sold 1.55 million acres of timberlands for $2.38 billion. The total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberlands, which Temple-Inland contributed to two wholly-owned, bankruptcy-remote special purpose entities. The notes are shown in Financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $2.38 billion of irrevocable letters of credit issued by three banks, which are required to maintain minimum credit ratings on their long-term debt. In the third quarter of 2012, International Paper completed its preliminary analysis of the acquisition date fair value of the notes and determined it to be $2.09 billion. As of December 31, 2013 and 2012, the fair value of the notes was $2.62 billion and $2.21 billion, respectively. | ||||||||||
In December 2007, Temple-Inland's two wholly-owned special purpose entities borrowed $2.14 billion shown in Nonrecourse financial liabilities of special purpose entities in the accompanying consolidated balance sheet. The loans are repayable in 2027 and are secured only by the $2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to the Company. 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. In the third quarter of 2012, International Paper completed its preliminary analysis of the acquisition date fair value of the borrowings and determined it to be $2.03 billion. As of December 31, 2013 and 2012, the fair value of this debt was $2.49 billion and $2.12 billion, respectively. | ||||||||||
On January 23, 2012, Standard and Poor's reduced its credit rating of senior unsecured long-term debt of Société Générale SA, which issued letters of credit that support $506 million of the 2007 Monetized Notes, below the specific threshold. These letters of credit were successfully replaced by another qualifying institution. Fees of $2 million were incurred in connection with this replacement. | ||||||||||
On June 21, 2012, Moody's Investor Services reduced its credit rating of senior unsecured long-term debt of Barclays Bank PLC, which issued letters of credit that support approximately $500 million of the 2007 Monetized Notes, below the specified threshold. These letters of credit were successfully replaced by another qualifying institution. Fees of $6 million were incurred in connection with this replacement. | ||||||||||
Activity between the Company and the 2007 financing entities was as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Revenue (loss) (a) | $ | 27 | $ | 28 | $ | — | ||||
Expense (b) | 29 | 28 | — | |||||||
Cash receipts (c) | 8 | 12 | — | |||||||
Cash payments (d) | 21 | 22 | — | |||||||
(a) | The revenue is included in Interest expense, net in the accompanying consolidated statement of operations and includes approximately $19 million and $17 million for the years ended December 31, 2013 and 2012, respectively, of accretion income for the amortization of the purchase accounting adjustment of the Financial assets of special purpose entities. | |||||||||
(b) | The expense is included in Interest expense, net in the accompanying consolidated statement of operations and includes $7 million and $6 million for the years ended December 31, 2013 and 2012, respectively, of accretion expense for the amortization of the purchase accounting adjustment on the Nonrecourse financial liabilities of special purpose 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. | |||||||||
PREFERRED SECURITIES OF SUBSIDIARIES | ||||||||||
In March 2003, Southeast Timber, Inc. (Southeast Timber), a consolidated subsidiary of International Paper, issued $150 million of preferred securities to a private investor with future dividend payments based on LIBOR. Southeast Timber, which through a subsidiary initially held approximately 1.50 million acres of forestlands in the southern United States, was International Paper’s primary vehicle for sales of southern forestlands. As of December 31, 2013, substantially all of these forestlands have been sold. On March 27, 2013, Southeast Timber redeemed its Class A common shares owned by the private investor for $150 million. As a result, Noncontrolling interests decreased by $150 million in the accompanying consolidated balance sheet. Distributions paid to the third-party investor were $1 million, $6 million and $5 million in 2013, 2012 and 2011, respectively. The expense related to these preferred securities is shown in Net earnings (loss) attributable to noncontrolling interests in the accompanying consolidated statement of operations. |
Debt_And_Lines_Of_Credit_Note
Debt And Lines Of Credit (Note) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Debt Instruments [Abstract] | ' | |||||||||
Debt And Lines Of Credit [Note Text Block] | ' | |||||||||
In February 2012, International Paper issued a $1.2 billion term loan with an initial interest rate of LIBOR plus a margin of 138 basis points that varies depending on the credit rating of the Company and a $200 million term loan with an interest rate of LIBOR plus a margin of 175 basis points, both with maturity dates in 2017. The proceeds from these borrowings were used, along with available cash, to fund the acquisition of Temple-Inland. During 2012, International Paper fully repaid the $1.2 billion term loan. | ||||||||||
Amounts related to early debt extinguishment during the years ended December 31, 2013, 2012 and 2011 were as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Debt reductions (a) | $ | 574 | $ | 1,272 | $ | 129 | ||||
Pre-tax early debt extinguishment costs (b) | 25 | 48 | 32 | |||||||
(a) | Reductions related to notes with interest rates ranging from 1.625% to 9.375% with original maturities from 2012 to 2041 for the years ended December 31, 2013, 2012 and 2011. | |||||||||
(b) | Amounts are included in Restructuring and other charges in the accompanying consolidated statements of operations. | |||||||||
A summary of long-term debt follows: | ||||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
8.7% note – due 2038 | $ | 264 | $ | 263 | ||||||
9 3/8% note – due 2019 | 848 | 846 | ||||||||
7.95% debentures – due 2018 | 1,429 | 1,462 | ||||||||
7.5% note – due 2021 | 999 | 999 | ||||||||
7.4% debentures – due 2014 | — | 303 | ||||||||
7.3% notes – due 2039 | 721 | 721 | ||||||||
6 7/8% notes – due 2023 – 2029 | 130 | 130 | ||||||||
6.65% note – due 2037 | 4 | 4 | ||||||||
6.4% to 7.75% debentures due 2025 – 2027 | 142 | 142 | ||||||||
6 3/8% to 6 5/8% notes – due 2016 – 2018 | 364 | 373 | ||||||||
6.0% notes – due 2041 | 585 | 585 | ||||||||
5.25% to 5.5% notes – due 2014 – 2016 | 657 | 701 | ||||||||
4.75% notes – due 2022 | 899 | 899 | ||||||||
Floating rate notes – due 2013 – 2017 (a) | 269 | 314 | ||||||||
Environmental and industrial development | 1,487 | 1,812 | ||||||||
bonds – due 2013 – 2035 (b) | ||||||||||
Short-term notes (c) | 386 | 255 | ||||||||
Other (d) | 304 | 331 | ||||||||
Total (e) | 9,488 | 10,140 | ||||||||
Less: current maturities | 661 | 444 | ||||||||
Long-term debt | $ | 8,827 | $ | 9,696 | ||||||
(a) | The weighted average interest rate on these notes was 2.6% in 2013 and 2.6% in 2012. | |||||||||
(b) | The weighted average interest rate on these bonds was 5.5% in 2013 and 5.6% in 2012. | |||||||||
(c) | The weighted average interest rate was 2.8% in 2013 and 2.2% in 2012. Includes $93 million at December 31, 2013 and $29 million at December 31, 2012 related to non-U.S. denominated borrowings with a weighted average interest rate of 5.8% in 2013 and 5.6% in 2012. | |||||||||
(d) | Includes $41 million at December 31, 2013 and $61 million at December 31, 2012, related to the unamortized gain on interest rate swap unwinds (see Note 14). | |||||||||
(e) | The fair market value was approximately $10.7 billion at December 31, 2013 and $12.3 billion at December 31, 2012. | |||||||||
In addition to the long-term debt obligations shown above, International Paper has $5.3 billion of debt obligations payable to non-consolidated variable interest entities having principal payments of $5.3 billion due in 2016, for which International Paper has, and intends to effect, a legal right to offset these obligations with Class B interests held in the entities. Accordingly, in the accompanying consolidated balance sheet, International Paper has offset the $5.3 billion of debt obligations with $5.2 billion of Class B interests in these entities as of December 31, 2013 (see Note 12). Total maturities of long-term debt over the next five years are 2014 – $661 million; 2015 – $498 million; 2016 – $571 million; 2017 – $285 million; and 2018 – $2 billion. | ||||||||||
At December 31, 2013, International Paper’s contractually committed credit facilities (the Agreements) totaled $2.5 billion. The Agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon International Paper’s credit rating. The Agreements include a $1.5 billion contractually committed bank facility that expires in August 2016 and has a facility fee of 0.175% payable quarterly. The Agreements also include up to $1.0 billion of commercial paper-based financings based on eligible receivables balances ($958 million available as of December 31, 2013) under a receivables securitization program. On January 8, 2014, the Company amended the receivables securitization program to extend the maturity date from January 2014 to December 2014. The amended Agreement includes up to $500 million of uncommitted commercial paper-based financings. At December 31, 2013, there were no borrowings under either the bank facility or receivables securitization program. | ||||||||||
Maintaining an investment grade credit rating is an important element of International Paper’s financing strategy. At December 31, 2013, the Company held long-term credit ratings of BBB (stable outlook) and Baa3 (stable outlook) by S&P and Moody’s, respectively. |
Derivatives_and_Hedging_Activi
Derivatives and Hedging Activities (Note) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Derivatives And Hedging Activities [Note Text Block] | ' | ||||||||||||||||||||||||
International Paper periodically uses derivatives and other financial instruments to hedge exposures to interest rate, commodity and currency risks. International Paper does not hold or issue financial instruments for trading purposes. For hedges that meet the hedge accounting criteria, International Paper, at inception, formally designates and documents the instrument as a fair value hedge, a cash flow hedge or a net investment hedge of a specific underlying exposure. | |||||||||||||||||||||||||
INTEREST RATE RISK MANAGEMENT | |||||||||||||||||||||||||
Our policy is to manage interest cost using a mixture of fixed-rate and variable-rate debt. To manage this risk in a cost-efficient manner, we enter into interest rate swaps whereby we agree to exchange with the counterparty, at specified intervals, the difference between fixed and variable interest amounts calculated by reference to a notional amount. | |||||||||||||||||||||||||
Interest rate swaps that meet specific accounting criteria are accounted for as fair value or cash flow hedges. For fair value hedges, the changes in the fair value of both the hedging instruments and the underlying debt obligations are immediately recognized in interest expense. For cash flow hedges, the effective portion of the changes in the fair value of the hedging instrument is reported in Accumulated other comprehensive income (“AOCI”) and reclassified into interest expense over the life of the underlying debt. The ineffective portion for both cash flow and fair value hedges, which is not material for any year presented, is immediately recognized in earnings. | |||||||||||||||||||||||||
FOREIGN CURRENCY RISK MANAGEMENT | |||||||||||||||||||||||||
We manufacture and sell our products and finance operations in a number of countries throughout the world and, as a result, are exposed to movements in foreign currency exchange rates. The purpose of our foreign currency hedging program is to manage the volatility associated with the changes in exchange rates. | |||||||||||||||||||||||||
To manage this exchange rate risk, we have historically utilized a combination of forward contracts, options and currency swaps. Contracts that qualify are designated as cash flow hedges of certain forecasted transactions denominated in foreign currencies. The effective portion of the changes in fair value of these instruments is reported in AOCI and reclassified into earnings in the same financial statement line item and in the same period or periods during which the related hedged transactions affect earnings. The ineffective portion, which is not material for any year presented, is immediately recognized in earnings. | |||||||||||||||||||||||||
In the second quarter of 2012, the Company added zero-cost collar option contracts to its portfolio to manage its exposure to U.S. dollar / Brazilian real exchange rates. These zero-cost collar instruments qualify as cash flow hedges of certain forecasted transactions denominated in U.S. dollars. The effective portion of the changes in fair value of these instruments is reported in AOCI and reclassified into earnings in the same financial statement line item and in the same period or periods during which the related hedged transactions affect earnings. The ineffective portion is immediately recognized in earnings. | |||||||||||||||||||||||||
The change in value of certain non-qualifying instruments used to manage foreign exchange exposure of intercompany financing transactions and certain balance sheet items subject to revaluation is immediately recognized in earnings, substantially offsetting the foreign currency mark-to-market impact of the related exposure. | |||||||||||||||||||||||||
COMMODITY RISK MANAGEMENT | |||||||||||||||||||||||||
Certain raw materials used in our production processes are subject to price volatility caused by weather, supply conditions, political and economic variables and other unpredictable factors. To manage the volatility in earnings due to price fluctuations, we may utilize swap contracts. These contracts are designated as cash flow hedges of forecasted commodity purchases. The effective portion of the changes in fair value for these instruments is reported in AOCI and reclassified into earnings in the same financial statement line item and in the same period or periods during which the hedged transactions affect earnings. The ineffective and non-qualifying portions, which are not material for any year presented, are immediately recognized in earnings. | |||||||||||||||||||||||||
The notional amounts of qualifying and non-qualifying instruments used in hedging transactions were as follows: | |||||||||||||||||||||||||
In millions | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships: | |||||||||||||||||||||||||
Foreign exchange contracts (Sell / Buy; denominated in sell notional): (a) | |||||||||||||||||||||||||
Brazilian real / U.S. dollar - Forward | 502 | — | |||||||||||||||||||||||
British pounds / Brazilian real - Forward | 17 | 13 | |||||||||||||||||||||||
European euro / Brazilian real - Forward | 27 | 13 | |||||||||||||||||||||||
European euro / Polish zloty - Forward | 252 | 149 | |||||||||||||||||||||||
U.S. dollar / Brazilian real - Forward | 290 | 238 | |||||||||||||||||||||||
U.S. dollar / Brazilian real - Zero-cost collar | 18 | 18 | |||||||||||||||||||||||
Derivatives in Fair Value Hedging Relationships: | |||||||||||||||||||||||||
Interest rate contracts (in USD) | 175 | — | |||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | |||||||||||||||||||||||||
Embedded derivative (in USD) | — | 150 | |||||||||||||||||||||||
Foreign exchange contracts (Sell / Buy; denominated in sell notional): | |||||||||||||||||||||||||
Indian rupee / U.S. dollar | 157 | 140 | |||||||||||||||||||||||
Thai baht / U.S. dollar | — | 261 | |||||||||||||||||||||||
U.S. dollar / Turkish lira | — | 56 | |||||||||||||||||||||||
Interest rate contracts (in USD) | — | 150 | (b) | ||||||||||||||||||||||
(a) | These contracts had maturities of three years or less as of December 31, 2013. | ||||||||||||||||||||||||
(b) | Includes $150 million floating-to-fixed interest rate swap notional to offset the embedded derivative. | ||||||||||||||||||||||||
The following table shows gains or losses recognized in AOCI, net of tax, related to derivative instruments: | |||||||||||||||||||||||||
Gain (Loss) | |||||||||||||||||||||||||
Recognized in AOCI on Derivatives | |||||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Foreign exchange contracts | $ | — | $ | 16 | $ | (39 | ) | ||||||||||||||||||
Fuel oil contracts | — | — | 2 | ||||||||||||||||||||||
Natural gas contracts | — | (1 | ) | (6 | ) | ||||||||||||||||||||
Total | $ | — | $ | 15 | $ | (43 | ) | ||||||||||||||||||
During the next 12 months, the amount of the December 31, 2013 AOCI balance, after tax, that is expected to be reclassified to earnings is a gain of $2 million. | |||||||||||||||||||||||||
The amounts of gains and losses recognized in the consolidated statement of operations on qualifying and non-qualifying financial instruments used in hedging transactions were as follows: | |||||||||||||||||||||||||
Gain (Loss) | Location of Gain | ||||||||||||||||||||||||
Reclassified from | (Loss) | ||||||||||||||||||||||||
AOCI | Reclassified | ||||||||||||||||||||||||
into Income | from AOCI | ||||||||||||||||||||||||
(Effective Portion) | into Income | ||||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships: | |||||||||||||||||||||||||
Foreign exchange contracts | $ | 7 | $ | (15 | ) | $ | 8 | Cost of products sold | |||||||||||||||||
Fuel oil contracts | — | — | 4 | Cost of products sold | |||||||||||||||||||||
Natural gas contracts | — | (7 | ) | (20 | ) | Cost of products sold | |||||||||||||||||||
Total | $ | 7 | $ | (22 | ) | $ | (8 | ) | |||||||||||||||||
Gain (Loss) | Location of Gain (Loss) | ||||||||||||||||||||||||
Recognized | in Consolidated Statement of | ||||||||||||||||||||||||
in Income | Operations | ||||||||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Derivatives in Fair Value Hedging Relationships: | |||||||||||||||||||||||||
Interest rate contracts | $ | (1 | ) | $ | — | $ | (10 | ) | Interest expense, net | ||||||||||||||||
Debt | 1 | — | 10 | Interest expense, net | |||||||||||||||||||||
Total | $ | — | $ | — | $ | — | |||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | |||||||||||||||||||||||||
Electricity Contracts | $ | 4 | $ | (4 | ) | $ | — | Cost of products sold | |||||||||||||||||
Embedded derivatives | (1 | ) | (4 | ) | (3 | ) | Interest expense, net | ||||||||||||||||||
Foreign exchange contracts | (5 | ) | — | (14 | ) | (a) | Cost of products sold | ||||||||||||||||||
Interest rate contracts | 21 | 22 | 3 | Interest expense, net | |||||||||||||||||||||
Total | $ | 19 | $ | 14 | $ | (14 | ) | ||||||||||||||||||
(a) Premium costs of $5 million in connection with the acquisition of APPM are included in Restructuring and other charges in the accompanying consolidated statement of operations. | |||||||||||||||||||||||||
The following activity is related to fully effective interest rate swaps designated as fair value hedges: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
In millions | Issued | Terminated | Undesignated | Issued | Terminated | Undesignated | |||||||||||||||||||
Fourth Quarter | $ | 175 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Total | $ | 175 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||
International Paper’s financial assets and liabilities that are recorded at fair value consist of derivative contracts, including interest rate swaps, foreign currency forward contracts, and other financial instruments that are used to hedge exposures to interest rate, commodity and currency risks. In addition, a consolidated subsidiary of International Paper has an embedded derivative. For these financial instruments and the embedded derivative, fair value is determined at each balance sheet date using an income approach. | |||||||||||||||||||||||||
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. All of International Paper’s derivative fair value measurements use Level 2 inputs. | |||||||||||||||||||||||||
Below is a description of the valuation calculation and the inputs used for each class of contract: | |||||||||||||||||||||||||
Interest Rate Contracts | |||||||||||||||||||||||||
Interest rate contracts are valued using swap curves obtained from an independent market data provider. The market value of each contract is the sum of the fair value of all future interest payments between the contract counterparties, discounted to present value. The fair value of the future interest payments is determined by comparing the contract rate to the derived forward interest rate and present valued using the appropriate derived interest rate curve. | |||||||||||||||||||||||||
Fuel Oil Contracts | |||||||||||||||||||||||||
Fuel oil contracts are valued using the average of two forward fuel oil curves as quoted by third parties. The fair value of each contract is determined by comparing the strike price to the forward price of the corresponding fuel oil contract and present valued using the appropriate interest rate curve. | |||||||||||||||||||||||||
Natural Gas Contracts | |||||||||||||||||||||||||
Natural gas contracts are traded over-the-counter and settled using the NYMEX last day settle price; therefore, forward contracts are valued using the closing prices of the NYMEX natural gas future contracts. The fair value of each contract is determined by comparing the strike price to the closing price of the corresponding natural gas future contract and present valued using the appropriate interest rate curve. | |||||||||||||||||||||||||
Foreign Exchange Contracts | |||||||||||||||||||||||||
Foreign currency forward contracts are valued using foreign currency forward and interest rate curves obtained from an independent market data provider. The fair value of each contract is determined by comparing the contract rate to the forward rate. The fair value is present valued using the applicable interest rate from an independent market data provider. | |||||||||||||||||||||||||
Embedded Derivative | |||||||||||||||||||||||||
Embedded derivatives are valued using a hypothetical interest rate derivative with identical terms. The hypothetical interest rate derivative contracts are fair valued as described above under Interest Rate Contracts. | |||||||||||||||||||||||||
Since the volume and level of activity of the markets that each of the above contracts are traded in has been normal, the fair value calculations have not been adjusted for inactive markets or disorderly transactions. | |||||||||||||||||||||||||
The following table provides a summary of the impact of our derivative instruments in the consolidated balance sheet: | |||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||
Level 2 – Significant Other Observable Inputs | |||||||||||||||||||||||||
Assets | Liabilities | ||||||||||||||||||||||||
In millions | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||||
Foreign exchange contracts – cash flow | $ | 37 | (a) | $ | 7 | (c) | $ | 33 | (d) | $ | 21 | (f) | |||||||||||||
Interest rate contracts - fair value | — | — | 1 | (e) | — | ||||||||||||||||||||
Total derivatives designated as hedging instruments | $ | 37 | $ | 7 | $ | 34 | $ | 21 | |||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||
Electricity contract | $ | 2 | (b) | $ | — | $ | — | $ | 1 | (g) | |||||||||||||||
Embedded derivatives | — | 1 | (b) | — | — | ||||||||||||||||||||
Foreign exchange contracts | — | 1 | (b) | — | — | ||||||||||||||||||||
Interest rate contracts | — | — | — | 1 | (g) | ||||||||||||||||||||
Total derivatives not designated as hedging instruments | $ | 2 | $ | 2 | $ | — | $ | 2 | |||||||||||||||||
Total derivatives | $ | 39 | $ | 9 | $ | 34 | $ | 23 | |||||||||||||||||
(a) | Includes $23 million recorded in Other current assets and $14 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(b) | Included in Other current assets in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(c) | Includes $3 million recorded in Other current assets and $4 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(d) | Includes $24 million recorded in Other accrued liabilities and $9 million recorded in Other liabilities in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(e) | Included in Other liabilities in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(f) | Includes $20 million recorded in Other accrued liabilities and $1 million recorded in Other liabilities in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(g) | Included in Other accrued liabilities in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
The above contracts are subject to enforceable master netting arrangements that provide rights of offset with each counterparty when amounts are payable on the same date in the same currency or in the case of certain specified defaults. Management has made an accounting policy election to not offset the fair value of recognized derivative assets and derivative liabilities in the consolidated balance sheet. The amounts owed to the counterparties and owed to the Company are considered immaterial with respect to each counterparty and in the aggregate with all counterparties. | |||||||||||||||||||||||||
Credit-Risk-Related Contingent Features | |||||||||||||||||||||||||
International Paper evaluates credit risk by monitoring its exposure with each counterparty to ensure that exposure stays within acceptable policy limits. Credit risk is also mitigated by contractual provisions with the majority of our banks. Certain of the contracts include a credit support annex that requires the posting of collateral by the counterparty or International Paper based on each party’s rating and level of exposure. Based on the Company’s current credit rating, the collateral threshold is generally $10 million. | |||||||||||||||||||||||||
If the lower of the Company’s credit rating by Moody’s or S&P were to drop below investment grade, the Company would be required to post collateral for all of its derivatives in a net liability position, although no derivatives would terminate. The fair values of derivative instruments containing credit-risk-related contingent features in a net liability position were $3 million as of December 31, 2013 and $18 million as of December 31, 2012. The Company was not required to post any collateral as of December 31, 2013 or 2012. |
Capital_Stock_Note
Capital Stock (Note) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Class of Stock Disclosures [Abstract] | ' | ||||
Capital Stock [Note Text Block] | ' | ||||
The authorized capital stock at both December 31, 2013 and 2012, 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 rollforward of shares of common stock for the three years ended December 31, 2013, 2012 and 2011: | |||||
Common Stock | |||||
In thousands | Issued | Treasury | |||
Balance at January 1, 2011 | 438,871 | 1,234 | |||
Issuance of stock for various plans, net | 1 | (326 | ) | ||
Repurchase of stock | — | 1,013 | |||
Balance at December 31, 2011 | 438,872 | 1,921 | |||
Issuance of stock for various plans, net | 1,022 | (2,994 | ) | ||
Repurchase of stock | — | 1,086 | |||
Balance at December 31, 2012 | 439,894 | 13 | |||
Issuance of stock for various plans, net | 7,328 | (533 | ) | ||
Repurchase of stock | — | 11,388 | |||
Balance at December 31, 2013 | 447,222 | 10,868 | |||
Retirement_Plans_Note
Retirement Plans (Note) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||
Retirement Plans [Note Text Block] | ' | |||||||||||||||||||||
International Paper sponsors and maintains the Retirement Plan of International Paper Company (the “Pension Plan”), a tax-qualified defined benefit pension plan that provides retirement benefits to substantially all U.S. salaried employees and hourly employees (receiving salaried benefits) hired prior to July 1, 2004, and substantially all other U.S. hourly and union employees who work at a participating business unit regardless of hire date. These employees generally are eligible to participate in the Pension Plan upon attaining 21 years of age and completing one year of eligibility service. U.S. salaried employees and hourly employees (receiving salaried benefits) hired after June 30, 2004 are not eligible to participate in the Pension Plan, but receive a company contribution to their individual savings plan accounts (see Other U.S. Plans). 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). | ||||||||||||||||||||||
In connection with the Temple-Inland acquisition in February 2012, International Paper assumed administrative responsibility for the Temple-Inland Retirement Plan, a defined benefit plan which covers substantially all employees of Temple-Inland. | ||||||||||||||||||||||
The Company also has three unfunded nonqualified defined benefit pension plans: a Pension Restoration Plan available to employees hired prior to July 1, 2004 that provides retirement benefits based on eligible compensation in excess of limits set by the Internal Revenue Service, and two supplemental retirement plans 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 $28 million, $95 million and $19 million in 2013, 2012 and 2011, respectively, and which are expected to be $46 million in 2014. | ||||||||||||||||||||||
The Company will freeze participation, including credited service and compensation, for salaried employees under the Pension Plan, the Pension Restoration Plan and the SERP for all service on or after January 1, 2019. In addition, compensation under the Temple-Inland Retirement Plan and the Temple-Inland Supplemental Executive Retirement Plan (collectively, the “Temple Retirement Plans”) will also be frozen beginning January 1, 2019. Credited service was previously frozen for the Temple Retirement Plans. This change will not affect benefits accrued through December 31, 2018. For service after this date, employees affected by the freeze will receive Retirement Savings Account contributions as described later in this Note 16. | ||||||||||||||||||||||
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 2013 and 2012, and the plans’ funded status. The U.S. combined benefit obligation as of December 31, 2013 decreased by $1.3 billion, as a result of an increase in the discount rate assumption used in computing the estimated benefit obligation. U.S. plan assets increased by $595 million, reflecting favorable investment results and a $31 million required contribution in 2013 offset by benefit payments. | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
In millions | U.S. | Non- | U.S. | Non- | ||||||||||||||||||
Plans | U.S. | Plans | U.S. | |||||||||||||||||||
Plans | Plans | |||||||||||||||||||||
Change in projected benefit obligation: | ||||||||||||||||||||||
Benefit obligation, January 1 | $ | 14,201 | $ | 223 | $ | 10,555 | $ | 183 | ||||||||||||||
Service cost | 188 | 4 | 152 | 3 | ||||||||||||||||||
Interest cost | 576 | 11 | 604 | 12 | ||||||||||||||||||
Curtailments | (14 | ) | — | — | — | |||||||||||||||||
Settlements | (5 | ) | (4 | ) | — | (3 | ) | |||||||||||||||
Actuarial loss (gain) | (1,309 | ) | — | 1,923 | 30 | |||||||||||||||||
Acquisitions | — | 3 | 1,749 | 3 | ||||||||||||||||||
Plan amendments | — | — | 20 | — | ||||||||||||||||||
Special termination benefits | 8 | — | — | — | ||||||||||||||||||
Benefits paid | (742 | ) | (8 | ) | (802 | ) | (8 | ) | ||||||||||||||
Effect of foreign currency exchange rate movements | — | (1 | ) | — | 3 | |||||||||||||||||
Benefit obligation, December 31 | $ | 12,903 | $ | 228 | $ | 14,201 | $ | 223 | ||||||||||||||
Change in plan assets: | ||||||||||||||||||||||
Fair value of plan assets | $ | 10,111 | $ | 171 | $ | 8,185 | $ | 155 | ||||||||||||||
Actual return on plan assets | 1,283 | 15 | 1,183 | 18 | ||||||||||||||||||
Company contributions | 59 | 8 | 139 | 8 | ||||||||||||||||||
Benefits paid | (742 | ) | (8 | ) | (802 | ) | (8 | ) | ||||||||||||||
Settlements | (5 | ) | (4 | ) | — | (3 | ) | |||||||||||||||
Acquisitions | — | — | 1,406 | — | ||||||||||||||||||
Effect of foreign currency exchange rate movements | — | (1 | ) | — | 1 | |||||||||||||||||
Fair value of plan assets, December 31 | $ | 10,706 | $ | 181 | $ | 10,111 | $ | 171 | ||||||||||||||
Funded status, December 31 | $ | (2,197 | ) | $ | (47 | ) | $ | (4,090 | ) | $ | (52 | ) | ||||||||||
Amounts recognized in the consolidated balance sheet: | ||||||||||||||||||||||
Non-current asset | $ | — | $ | 9 | $ | — | $ | 4 | ||||||||||||||
Current liability | (46 | ) | (2 | ) | (32 | ) | (2 | ) | ||||||||||||||
Non-current liability | (2,151 | ) | (54 | ) | (4,058 | ) | (54 | ) | ||||||||||||||
$ | (2,197 | ) | $ | (47 | ) | $ | (4,090 | ) | $ | (52 | ) | |||||||||||
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): | ||||||||||||||||||||||
Prior service cost | $ | 107 | $ | — | $ | 144 | $ | — | ||||||||||||||
Net actuarial loss | 3,285 | 29 | 5,640 | 34 | ||||||||||||||||||
$ | 3,392 | $ | 29 | $ | 5,784 | $ | 34 | |||||||||||||||
The components of the $2.4 billion and $5 million decrease related to U.S. plans and non-U.S. plans, respectively, in the amounts recognized in OCI during 2013 consisted of: | ||||||||||||||||||||||
In millions | U.S. | Non- | ||||||||||||||||||||
Plans | U.S. | |||||||||||||||||||||
Plans | ||||||||||||||||||||||
Current year actuarial (gain) loss | $ | (1,854 | ) | $ | (4 | ) | ||||||||||||||||
Amortization of actuarial loss | (485 | ) | (1 | ) | ||||||||||||||||||
Current year prior service cost | — | — | ||||||||||||||||||||
Amortization of prior service cost | (34 | ) | — | |||||||||||||||||||
Curtailments | (19 | ) | — | |||||||||||||||||||
$ | (2,392 | ) | $ | (5 | ) | |||||||||||||||||
The accumulated benefit obligation at December 31, 2013 and 2012 was $12.6 billion and $13.8 billion, respectively, for our U.S. defined benefit plans and $208 million and $206 million, respectively, at December 31, 2013 and 2012 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, 2013 and 2012: | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
In millions | U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||||||
Plans | Plans | Plans | Plans | |||||||||||||||||||
Projected benefit obligation | $ | 12,903 | $ | 181 | $ | 14,201 | $ | 200 | ||||||||||||||
Accumulated benefit obligation | 12,560 | 168 | 13,772 | 188 | ||||||||||||||||||
Fair value of plan assets | 10,706 | 125 | 10,111 | 143 | ||||||||||||||||||
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. The estimated net loss and prior service cost that will be amortized from AOCI into net periodic pension cost for the U.S. plans during the next fiscal year are expected to be $316 million and $30 million, respectively. | ||||||||||||||||||||||
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: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
In millions | U.S. | Non- | U.S. | Non- | U.S. | Non- | ||||||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | |||||||||||||||||
Plans | Plans | Plans | ||||||||||||||||||||
Service cost | $ | 188 | $ | 4 | $ | 152 | $ | 3 | $ | 121 | $ | 2 | ||||||||||
Interest cost | 576 | 11 | 604 | 12 | 544 | 12 | ||||||||||||||||
Expected return on plan assets | (738 | ) | (11 | ) | (753 | ) | (12 | ) | (713 | ) | (12 | ) | ||||||||||
Actuarial loss / (gain) | 485 | 1 | 307 | — | 212 | — | ||||||||||||||||
Amortization of prior service cost | 34 | — | 32 | — | 31 | — | ||||||||||||||||
Settlement gain | — | — | — | — | — | (1 | ) | |||||||||||||||
Net periodic pension expense | $ | 545 | $ | 5 | $ | 342 | $ | 3 | $ | 195 | $ | 1 | ||||||||||
The increase in 2013 pension expense reflects a decrease in the discount rate from 5.10% in 2012 to 4.10% in 2013 and higher amortization of unrecognized actuarial losses. | ||||||||||||||||||||||
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, 2013 was also the discount rate used to determine net pension expense for the 2014 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: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
U.S. | Non- | U.S. | Non- | U.S. | Non- | |||||||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | |||||||||||||||||
Plans | Plans | Plans | ||||||||||||||||||||
Actuarial assumptions used to determine benefit obligations as of December 31: | ||||||||||||||||||||||
Discount rate | 4.9 | % | 5.07 | % | 4.1 | % | 4.96 | % | 5.1 | % | 5.98 | % | ||||||||||
Rate of compensation increase | 3.75 | % | 4.13 | % | 3.75 | % | 3.17 | % | 3.75 | % | 3.12 | % | ||||||||||
Actuarial assumptions used to determine net periodic pension cost for years ended December 31: | ||||||||||||||||||||||
Discount rate | 4.1 | % | 4.96 | % | 5.1 | % | 5.98 | % | 5.6 | % | 6.01 | % | ||||||||||
Expected long-term rate of return on plan assets (a) | 8 | % | 7.04 | % | 8 | % | 7.62 | % | 8.25 | % | 7.79 | % | ||||||||||
Rate of compensation increase | 3.75 | % | 3.17 | % | 3.75 | % | 3.12 | % | 3.75 | % | 3.07 | % | ||||||||||
(a) | Represents the expected rate of return for International Paper's qualified pension plan. The weighted average rate for the Temple-Inland Retirement Plan was 6.16% and 5.70% for 2013 and 2012, respectively. | |||||||||||||||||||||
The expected long-term rate of return on plan assets is based on projected rates of return for current and planned asset classes in the plan’s investment portfolio. Projected rates of return are developed through an asset/liability study in which projected returns for each of the plan’s asset classes are determined after analyzing historical experience and future expectations of returns and volatility of the various asset classes. | ||||||||||||||||||||||
Based on the target asset allocation for each asset class, the overall expected rate of return for the portfolio | ||||||||||||||||||||||
is developed considering the effects of active portfolio management and expenses paid from plan assets. The discount rate assumption was determined 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 2014, the Company will use an expected long-term rate of return on plan assets of 7.75% for the Retirement Plan of International Paper, | ||||||||||||||||||||||
an expected long-term rate of return on plan assets of 7.00% for the Temple-Inland Retirement Plan, a discount rate of 4.90% and an assumed rate of compensation increase of 3.75%. The Company estimates that it will record net pension expense of approximately $366 million for its U.S. defined benefit plans in 2014, with the decrease from expense of $545 million in 2013 reflecting lower amortization of unrecognized losses, an increase in the discount rate to 4.90% in 2014 from 4.10% in 2013, partially offset by a lower return on asset assumption for International Paper plan assets, and a higher return on asset assumption for Temple-Inland plan assets. | ||||||||||||||||||||||
For non-U.S. pension plans, assumptions reflect economic assumptions applicable to each country. | ||||||||||||||||||||||
The following illustrates the effect on pension expense for 2014 of a 25 basis point decrease in the above assumptions: | ||||||||||||||||||||||
In millions | 2014 | |||||||||||||||||||||
Expense/(Income): | ||||||||||||||||||||||
Discount rate | $ | 35 | ||||||||||||||||||||
Expected long-term rate of return on plan assets | 25 | |||||||||||||||||||||
Rate of compensation increase | (5 | ) | ||||||||||||||||||||
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 | ||||||||||||||||||||||
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, and target allocations were as follows: | ||||||||||||||||||||||
Asset Class | 2013 | 2012 | Target | |||||||||||||||||||
Allocations | ||||||||||||||||||||||
Equity accounts | 49 | % | 41 | % | 42% - 53% | |||||||||||||||||
Fixed income accounts | 32 | % | 38 | % | 30% - 40% | |||||||||||||||||
Real estate accounts | 10 | % | 10 | % | 6% - 12% | |||||||||||||||||
Other | 9 | % | 11 | % | 3% - 15% | |||||||||||||||||
Total | 100 | % | 100 | % | ||||||||||||||||||
The 2013 and 2012 actual and target allocations shown represent a weighted average of International Paper and Temple-Inland plan assets. | ||||||||||||||||||||||
The fair values of International Paper’s pension plan assets at December 31, 2013 and 2012 by asset class are shown below. Plan assets included an immaterial amount of International Paper common stock at December 31, 2013 and 2012. Hedge funds disclosed in the following table are allocated equally between equity and fixed income accounts for target allocation purposes. Cash and cash equivalent portfolios are allocated to the types of account from which they originated. | ||||||||||||||||||||||
Fair Value Measurement at December 31, 2013 | ||||||||||||||||||||||
Asset Class | Total | Quoted | Significant | Significant | ||||||||||||||||||
Prices | Observable | Unobservable | ||||||||||||||||||||
in | Inputs | Inputs | ||||||||||||||||||||
Active | (Level 2) | (Level 3) | ||||||||||||||||||||
Markets | ||||||||||||||||||||||
For | ||||||||||||||||||||||
Identical | ||||||||||||||||||||||
Assets | ||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||
In millions | ||||||||||||||||||||||
Equities – domestic | $ | 2,466 | $ | 1,175 | $ | 1,290 | $ | 1 | ||||||||||||||
Equities – international | 2,313 | 1,470 | 843 | — | ||||||||||||||||||
Corporate bonds | 1,248 | — | 1,248 | — | ||||||||||||||||||
Government securities | 1,097 | — | 1,097 | — | ||||||||||||||||||
Mortgage backed securities | 143 | — | 143 | — | ||||||||||||||||||
Other fixed income | 74 | (1 | ) | 65 | 10 | |||||||||||||||||
Commodities | 193 | — | 193 | — | ||||||||||||||||||
Hedge funds | 831 | — | — | 831 | ||||||||||||||||||
Private equity | 484 | — | — | 484 | ||||||||||||||||||
Real estate | 1,038 | — | — | 1,038 | ||||||||||||||||||
Derivatives | 313 | — | — | 313 | ||||||||||||||||||
Cash and cash equivalents | 506 | (10 | ) | 516 | — | |||||||||||||||||
Total Investments | $ | 10,706 | $ | 2,634 | $ | 5,395 | $ | 2,677 | ||||||||||||||
Fair Value Measurement at December 31, 2012 | ||||||||||||||||||||||
Asset Class | Total | Quoted | Significant | Significant | ||||||||||||||||||
Prices in | Observable | Unobservable | ||||||||||||||||||||
Active | Inputs | Inputs | ||||||||||||||||||||
Markets | (Level 2) | (Level 3) | ||||||||||||||||||||
For | ||||||||||||||||||||||
Identical | ||||||||||||||||||||||
Assets | ||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||
In millions | ||||||||||||||||||||||
Equities – domestic | $ | 2,171 | $ | 1,241 | $ | 927 | $ | 3 | ||||||||||||||
Equities – international | 1,513 | 1,145 | 368 | — | ||||||||||||||||||
Common collective funds – fixed income | 180 | — | 180 | — | ||||||||||||||||||
Corporate bonds | 1,539 | — | 1,539 | — | ||||||||||||||||||
Government securities | 1,593 | — | 1,593 | — | ||||||||||||||||||
Mortgage backed securities | 127 | — | 127 | — | ||||||||||||||||||
Other fixed income | 75 | — | 67 | 8 | ||||||||||||||||||
Commodities | 216 | — | 216 | — | ||||||||||||||||||
Hedge funds | 492 | — | — | 492 | ||||||||||||||||||
Private equity | 503 | — | — | 503 | ||||||||||||||||||
Real estate | 1,037 | — | — | 1,037 | ||||||||||||||||||
Derivatives | 354 | — | — | 354 | ||||||||||||||||||
Cash and cash equivalents | 311 | (15 | ) | 326 | — | |||||||||||||||||
Total Investments | $ | 10,111 | $ | 2,371 | $ | 5,343 | $ | 2,397 | ||||||||||||||
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 and common collective funds. 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. | ||||||||||||||||||||||
Commodities consist of commodity-linked notes and commodity-linked derivatives. Commodities are valued at closing prices determined by calculation agents for outstanding transactions. | ||||||||||||||||||||||
Hedge funds are investment structures 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 includes commercial properties, land and timberland, and generally includes, but is 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. | ||||||||||||||||||||||
Derivative investments such as futures, forward contracts, options, and swaps are used to help manage risks. Derivatives are generally employed as asset class substitutes (such as when employed within a portable alpha strategy), for managing asset/liability mismatches, or bona fide hedging or other appropriate risk management purposes. Derivative instruments are generally valued by the investment managers or in certain instances by third-party pricing sources. | ||||||||||||||||||||||
The fair value measurements using significant unobservable inputs (Level 3) at December 31, 2013 were as follows: | ||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||
In millions | Equities- | Other | Hedge | Private | Real | Derivatives | Total | |||||||||||||||
Domestic | Fixed | Funds | Equity | Estate | ||||||||||||||||||
Income | ||||||||||||||||||||||
Beginning balance at December 31, 2012 | $ | 3 | $ | 8 | $ | 492 | $ | 503 | $ | 1,037 | $ | 354 | $ | 2,397 | ||||||||
Actual return on plan assets: | ||||||||||||||||||||||
Relating to assets still held at the reporting date | (1 | ) | 1 | 11 | 41 | 62 | (20 | ) | 94 | |||||||||||||
Relating to assets sold during the period | 2 | — | 47 | 1 | 32 | 137 | 219 | |||||||||||||||
Purchases, sales and settlements | (3 | ) | — | 281 | (61 | ) | (93 | ) | (158 | ) | (34 | ) | ||||||||||
Transfers in and/or out of Level 3 | — | 1 | — | — | — | — | 1 | |||||||||||||||
Ending balance at December 31, 2013 | $ | 1 | $ | 10 | $ | 831 | $ | 484 | $ | 1,038 | $ | 313 | $ | 2,677 | ||||||||
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. Contributions to the qualified plan totaling $31 million , $44 million and $300 million were made by the Company in 2013, 2012 and 2011, respectively. 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, 2013, projected future pension benefit payments, excluding any termination benefits, were as follows: | ||||||||||||||||||||||
In millions | ||||||||||||||||||||||
2014 | $ | 767 | ||||||||||||||||||||
2015 | 759 | |||||||||||||||||||||
2016 | 767 | |||||||||||||||||||||
2017 | 779 | |||||||||||||||||||||
2018 | 791 | |||||||||||||||||||||
2019 – 2023 | 4,165 | |||||||||||||||||||||
OTHER U.S. PLANS | ||||||||||||||||||||||
International Paper sponsors the International Paper Company Salaried Savings Plan and the International Paper Company Hourly Savings Plan, both of which are tax-qualified defined contribution 401(k) savings plans. Substantially all U.S. salaried and certain hourly employees are eligible to participate and may make elective deferrals to such plans to save for retirement. International Paper makes matching contributions to participant accounts on a specified percentage of employee deferrals as determined by the provisions of each plan. For eligible employees hired after June 30, 2004, the Company makes Retirement Savings Account contributions equal to a percentage of an eligible employee’s pay. | ||||||||||||||||||||||
In connection with the Temple-Inland acquisition, International Paper acquired two savings plans which were merged into the International Paper savings plans on December 31, 2012. | ||||||||||||||||||||||
The Company also sponsors the International Paper Company Deferred Compensation Savings Plan, which is an unfunded nonqualified defined contribution plan. This plan permits eligible employees to continue to make deferrals and receive company matching contributions when their contributions to the International Paper Salaried Savings Plan are stopped due to limitations under U.S. tax law. Participant deferrals and company matching contributions are not invested in a separate trust, but are paid directly from International Paper’s general assets at the time benefits become due and payable. | ||||||||||||||||||||||
Company matching contributions to the plans totaled approximately $120 million, $122 million and $83 million for the plan years ending in 2013, 2012 and 2011, respectively. |
Postretirement_Benefits_Note
Postretirement Benefits (Note) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | ||||||||||||||||||
Postretirement Benefits [Note Text Block] | ' | ||||||||||||||||||
U.S. POSTRETIREMENT BENEFITS | |||||||||||||||||||
International Paper provides certain retiree health care and life insurance benefits covering certain U.S. salaried and hourly employees. These employees are generally eligible for benefits upon retirement and completion of a specified number of years of creditable service. Excluded from company-provided medical benefits are salaried employees whose age plus years of employment with the Company totaled less than 60 as of January 1, 2004. International Paper does not fund these benefits prior to payment and has the right to modify or terminate certain of these plans in the future. | |||||||||||||||||||
In addition to the U.S. plan, certain Brazilian and Moroccan employees are eligible for retiree health care and life insurance benefits. | |||||||||||||||||||
The components of U.S. postretirement benefit expense in 2013, 2012 and 2011 were as follows: | |||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||
U.S. | Non- | U.S. | Non- | U.S. | Non- | ||||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | ||||||||||||||
Plans | Plans | Plans | |||||||||||||||||
Service cost | $ | 2 | $ | 2 | $ | 3 | $ | — | $ | 2 | $ | — | |||||||
Interest cost | 14 | 5 | 20 | 1 | 21 | 2 | |||||||||||||
Actuarial loss | 7 | — | 10 | — | 9 | — | |||||||||||||
Amortization of prior service credits | (24 | ) | — | (30 | ) | — | (25 | ) | — | ||||||||||
Curtailment gain | — | — | (7 | ) | — | — | — | ||||||||||||
Net postretirement (benefit) expense (a) | $ | (1 | ) | $ | 7 | $ | (4 | ) | $ | 1 | $ | 7 | $ | 2 | |||||
(a) Excludes $7 million of curtailment gains in 2013 related to the sale of Building Products that were recorded in Net (gains) losses on sales and impairments of businesses in the consolidated statement of operations. | |||||||||||||||||||
International Paper evaluates its actuarial assumptions annually as of December 31 (the measurement date) and considers changes in these long-term factors based upon market conditions and the requirements of employers’ accounting for postretirement benefits other than pensions. Temple-Inland's postretirement plan was remeasured on July 19, 2013 due to the sale of Building Products which reduced the obligation by $6 million International Paper's postretirement plan was remeasured on January 31, 2012 due to a negative plan amendment which reduced our obligation by $29 million and reduced the 2012 expected benefit cost by $11 million. Temple-Inland's postretirement plan was remeasured on July 31, 2012 due to a negative plan amendment which reduced the obligation by $6 million and reduced 2012 expense by $1 million. | |||||||||||||||||||
The discount rates used to determine net U.S. and non-U.S. postretirement benefit cost for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
U.S. | Non- | U.S. | Non- | U.S. | Non- | ||||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | ||||||||||||||
Plans | Plans | Plans | |||||||||||||||||
Discount rate | 3.7 | % | 8.43 | % | 4.4 | % | (a) | 7.73 | % | 5.3 | % | 7.72 | % | ||||||
(a) | Represents the weighted average rate for the IP plan for 2012 due to the remeasurement. The weighted average rate used for Temple-Inland in 2012 was 4.19%. | ||||||||||||||||||
The weighted average assumptions used to determine the benefit obligation at December 31, 2013 and 2012 were as follows: | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
U.S. | Non- | U.S. | Non- | ||||||||||||||||
Plans | U.S. | Plans | U.S. | ||||||||||||||||
Plans | Plans | ||||||||||||||||||
Discount rate | 4.5 | % | 11.94 | % | 3.7 | % | 8.43 | % | |||||||||||
Health care cost trend rate assumed for next year | 7 | % | 11.43 | % | 7.5 | % | 7.18 | % | |||||||||||
Rate that the cost trend rate gradually declines to | 5 | % | 6.12 | % | 5 | % | 7.18 | % | |||||||||||
Year that the rate reaches the rate it is assumed to remain | 2017 | 2024 | 2017 | 2013 | |||||||||||||||
A 1% increase in the assumed annual health care cost trend rate would have increased the U.S. and non-U.S. accumulated postretirement benefit obligations at December 31, 2013 by approximately $13 million and $12 million, respectively. A 1% decrease in the annual trend rate would have decreased the U.S. and non-U.S. accumulated postretirement benefit obligation at December 31, 2013 by approximately $11 million and $10 million, respectively. The effect on net postretirement benefit cost from a 1% increase or decrease would be approximately $1 million for both U.S. and non-U.S. plans. | |||||||||||||||||||
The plan is only funded in an amount equal to benefits paid. The following table presents the changes in benefit obligation and plan assets for 2013 and 2012: | |||||||||||||||||||
In millions | 2013 | 2012 | |||||||||||||||||
U.S. | Non- | U.S. | Non- | ||||||||||||||||
Plans | U.S. | Plans | U.S. | ||||||||||||||||
Plans | Plans | ||||||||||||||||||
Change in projected benefit obligation: | |||||||||||||||||||
Benefit obligation, January 1 | $ | 449 | $ | 22 | $ | 425 | $ | 23 | |||||||||||
Service cost | 2 | 2 | 3 | — | |||||||||||||||
Interest cost | 14 | 5 | 20 | 1 | |||||||||||||||
Participants’ contributions | 19 | — | 34 | 1 | |||||||||||||||
Actuarial (gain) loss | (80 | ) | 12 | 44 | 10 | ||||||||||||||
Acquisitions | — | 38 | 108 | — | |||||||||||||||
Plan amendments | — | — | (63 | ) | — | ||||||||||||||
Benefits paid | (82 | ) | (1 | ) | (107 | ) | (2 | ) | |||||||||||
Less: Federal subsidy | 2 | — | 7 | — | |||||||||||||||
Restructuring | — | — | (17 | ) | — | ||||||||||||||
Curtailment | (2 | ) | — | (5 | ) | (11 | ) | ||||||||||||
Currency Impact | — | (6 | ) | — | — | ||||||||||||||
Benefit obligation, December 31 | $ | 322 | $ | 72 | $ | 449 | $ | 22 | |||||||||||
Change in plan assets: | |||||||||||||||||||
Fair value of plan assets, January 1 | $ | — | $ | — | $ | — | $ | — | |||||||||||
Company contributions | 63 | 1 | 73 | 1 | |||||||||||||||
Participants’ contributions | 19 | — | 34 | 1 | |||||||||||||||
Benefits paid | (82 | ) | (1 | ) | (107 | ) | (2 | ) | |||||||||||
Fair value of plan assets, December 31 | $ | — | $ | — | $ | — | $ | — | |||||||||||
Funded status, December 31 | $ | (322 | ) | $ | (72 | ) | $ | (449 | ) | $ | (22 | ) | |||||||
Amounts recognized in the consolidated balance sheet under ASC 715: | |||||||||||||||||||
Current liability | $ | (39 | ) | $ | (2 | ) | $ | (59 | ) | $ | (2 | ) | |||||||
Non-current liability | (283 | ) | (70 | ) | (390 | ) | (20 | ) | |||||||||||
$ | (322 | ) | $ | (72 | ) | $ | (449 | ) | $ | (22 | ) | ||||||||
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): | |||||||||||||||||||
Net actuarial loss (gain) | $ | 31 | $ | 11 | $ | 115 | $ | (1 | ) | ||||||||||
Prior service credit | (35 | ) | — | (65 | ) | — | |||||||||||||
$ | (4 | ) | $ | 11 | $ | 50 | $ | (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 $54 million decrease and $12 million increase in the amounts recognized in OCI during 2013 for U.S. and non-U.S. plans, respectively, consisted of: | |||||||||||||||||||
In millions | U.S. | Non- | |||||||||||||||||
Plans | U.S. | ||||||||||||||||||
Plans | |||||||||||||||||||
Curtailment | $ | 5 | $ | — | |||||||||||||||
Current year actuarial gain | (76 | ) | — | ||||||||||||||||
Amortization of actuarial (loss) gain | (7 | ) | 12 | ||||||||||||||||
Amortization of prior service credit | 24 | — | |||||||||||||||||
$ | (54 | ) | $ | 12 | |||||||||||||||
The portion of the change in the funded status that was recognized in either net periodic benefit cost or OCI for the U.S. plans was $63 million, $0 million and $47 million in 2013, 2012 and 2011, respectively. The portion of the change in funded status for the non-U.S. plans was $19 million, $2 million, and $3 million in 2013, 2012 and 2011, respectively. | |||||||||||||||||||
The estimated amounts of net loss and prior service credit that will be amortized from OCI into net U.S. postretirement benefit cost in 2014 are expected to be $4 million and $(13) million, respectively. The estimated amounts for non-U.S. plans in 2014 are expected to be $1 million and $0 million, respectively. | |||||||||||||||||||
At December 31, 2013, estimated total future postretirement benefit payments, net of participant contributions and estimated future Medicare Part D subsidy receipts, were as follows: | |||||||||||||||||||
In millions | Benefit | Subsidy | Benefit | ||||||||||||||||
Payments | Receipts | Payments | |||||||||||||||||
U.S. | U.S. | Non- | |||||||||||||||||
Plans | Plans | U.S. | |||||||||||||||||
Plans | |||||||||||||||||||
2014 | $ | 42 | $ | 3 | $ | 2 | |||||||||||||
2015 | 35 | 3 | 3 | ||||||||||||||||
2016 | 32 | 3 | 3 | ||||||||||||||||
2017 | 30 | 3 | 4 | ||||||||||||||||
2018 | 28 | 3 | 4 | ||||||||||||||||
2019 – 2023 | 120 | 11 | 31 | ||||||||||||||||
Incentive_Plans_Note
Incentive Plans (Note) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | ' | |||||||||
Incentive Plans [Note Text Block] | ' | |||||||||
International Paper currently has an Incentive Compensation Plan (ICP) which, upon the approval by the Company’s shareholders in May 2009, replaced the Company’s Long-Term Incentive Compensation Plan (LTICP). The ICP authorizes grants of restricted stock, restricted or deferred stock units, performance awards payable in cash or stock upon the attainment of specified performance goals, dividend equivalents, stock options, stock appreciation rights, other stock-based awards, and cash-based awards at the discretion of the Management Development and Compensation Committee of the Board of Directors (the Committee) that administers the ICP. Additionally, restricted stock, which may be deferred into RSU’s, may be awarded under a Restricted Stock and Deferred Compensation Plan for Non-Employee Directors. | ||||||||||
STOCK OPTION PROGRAM | ||||||||||
International Paper accounts for stock options in accordance with guidance under ASC 718, “Compensation – Stock Compensation.” Compensation expense is recorded over the related service period based on the grant-date fair market value. Since all outstanding options were vested as of July 14, 2005, only replacement option grants are expensed. No replacement options were granted in 2011. | ||||||||||
During each reporting period, diluted earnings per share is calculated by assuming that “in-the-money” options are exercised and the exercise proceeds are used to repurchase shares in the marketplace. When options are actually exercised, option proceeds are credited to equity and issued shares are included in the computation of earnings per common share, with no effect on reported earnings. Equity is also increased by the tax benefit that International Paper will receive in its tax return for income reported by the employees in their individual tax returns. | ||||||||||
Under the program, upon exercise of an option, a replacement option may be granted under certain circumstances with an exercise price equal to the market price at the time of exercise and with a term extending to the expiration date of the original option. | ||||||||||
The Company has discontinued the issuance of stock options for all eligible U.S. and non-U.S. employees. In the United States, the stock option program was replaced with a performance-based restricted share program to more closely tie long-term incentive compensation to Company performance on two key performance drivers: return on investment (ROI) and total shareholder return (TSR). | ||||||||||
The following summarizes the status of the Stock Option Program and the changes during the three years ending December 31, 2013: | ||||||||||
Options | Weighted | Weighted | Aggregate | |||||||
(a,b) | Average | Average | Intrinsic | |||||||
Exercise | Remaining | Value | ||||||||
Price | Life | (thousands) | ||||||||
(years) | ||||||||||
Outstanding at December 31, 2010 | 18,245,253 | $37.73 | 2.3 | $— | ||||||
Exercised | (1,850 | ) | 32.54 | |||||||
Forfeited | (21,070 | ) | 35.21 | |||||||
Expired | (2,665,547 | ) | 35.45 | |||||||
Outstanding at December 31, 2011 | 15,556,786 | 38.13 | 1.55 | — | ||||||
Granted | 2,513 | 35.94 | ||||||||
Exercised | (3,200,642 | ) | 33.62 | |||||||
Expired | (3,222,597 | ) | 40.71 | |||||||
Outstanding at December 31, 2012 | 9,136,060 | 38.79 | 1.15 | 1,077 | ||||||
Granted | 4,744 | 48.11 | ||||||||
Exercised | (7,317,825 | ) | 38.57 | |||||||
Expired | (70,190 | ) | 37.15 | |||||||
Outstanding at December 31, 2013 | 1,752,789 | $39.80 | 0.67 | $16,175 | ||||||
(a) | The table does not include Continuity Award tandem stock options described below. No fair market value is assigned to these options under ASC 718. The tandem restricted shares accompanying these options are expensed over their vesting period. | |||||||||
(b) | The table includes options outstanding under an acquired company plan under which options may no longer be granted. | |||||||||
PERFORMANCE SHARE PLAN | ||||||||||
Under the Performance Share Plan (PSP), contingent awards of International Paper common stock are granted by the Committee. The PSP awards are earned over a three-year period. For the 2011 grant, one-fourth of the award is earned during each twelve-month period, with the final one-fourth segment earned over the full three-year period. Beginning with the 2012 grant, the award is earned evenly over a thirty-six-month period. PSP awards are earned based on the achievement of defined performance rankings of ROI and TSR compared to ROI and TSR peer groups of companies. Awards are weighted 75% for ROI and 25% for TSR for all participants except for officers for whom the awards are weighted 50% for ROI and 50% for TSR. The ROI component of the PSP awards is valued at the closing stock price on the day prior to the grant date. As the ROI component contains a performance condition, compensation expense, net of estimated forfeitures, is recorded over the requisite service period based on the most probable number of awards expected to vest. The TSR component of the PSP awards is valued using a Monte Carlo simulation as the TSR component contains a market condition. The Monte Carlo simulation estimates the fair value of the TSR component based on the expected term of the award, a risk-free rate, expected dividends, and the expected volatility for the Company and its competitors. The expected term is estimated based on the vesting period of the awards, the risk-free rate is based on the yield on U.S. Treasury securities matching the vesting period, and the volatility is based on the Company’s historical volatility over the expected term. | ||||||||||
PSP grants are made in performance-based restricted stock units (PSU’s). PSP awards issued to certain members of senior management are accounted for as liability awards, which are remeasured at fair value at each balance sheet date. The valuation of these PSP liability awards is computed based on the same methodology as the PSP equity awards. | ||||||||||
The following table sets forth the assumptions used to determine compensation cost for the market condition component of the PSP plan: | ||||||||||
Twelve Months Ended December 31, 2013 | ||||||||||
Expected volatility | 25.30%-62.58% | |||||||||
Risk-free interest rate | 0.13% - 0.99% | |||||||||
The following summarizes PSP activity for the three years ending December 31, 2013: | ||||||||||
Share/Units | Weighted | |||||||||
Average | ||||||||||
Grant Date | ||||||||||
Fair Value | ||||||||||
Outstanding at December 31, 2010 | 6,812,594 | $23.31 | ||||||||
Granted | 4,314,376 | 28.04 | ||||||||
Shares issued | (2,565,971 | ) | 32.43 | |||||||
Forfeited | (500,940 | ) | 25.07 | |||||||
Outstanding at December 31, 2011 | 8,060,059 | 22.83 | ||||||||
Granted | 3,641,911 | 31.57 | ||||||||
Shares issued | (2,871,367 | ) | 16.83 | |||||||
Forfeited | (169,748 | ) | 28.89 | |||||||
Outstanding at December 31, 2012 | 8,660,855 | 28.37 | ||||||||
Granted | 3,148,445 | 40.76 | ||||||||
Shares issued (a) | (3,262,760 | ) | 32.48 | |||||||
Forfeited | (429,051 | ) | 34.58 | |||||||
Outstanding at December 31, 2013 | 8,117,489 | $31.20 | ||||||||
(a) | Includes 356,542 units related to retirements or terminations that are held for payout until the end of the performance period. | |||||||||
EXECUTIVE CONTINUITY AND RESTRICTED STOCK AWARD PROGRAMS | ||||||||||
The Executive Continuity Award program provides for the granting of tandem awards of restricted stock and/or nonqualified stock options to key executives. Grants are restricted and awards conditioned on attainment of a specified age. The awarding of a tandem stock option results in the cancellation of the related restricted shares. | ||||||||||
The service-based Restricted Stock Award program (RSA), designed for recruitment, retention and special recognition purposes, also provides for awards of restricted stock to key employees. | ||||||||||
The following summarizes the activity of the Executive Continuity Award program and RSA program for the three years ending December 31, 2013: | ||||||||||
Shares | Weighted | |||||||||
Average | ||||||||||
Grant Date | ||||||||||
Fair Value | ||||||||||
Outstanding at December 31, 2010 | 167,500 | $26.95 | ||||||||
Granted | 21,500 | 27.01 | ||||||||
Shares issued | (55,083 | ) | 24.84 | |||||||
Forfeited | (5,000 | ) | 26.78 | |||||||
Outstanding at December 31, 2011 | 128,917 | 27.86 | ||||||||
Granted | 88,715 | 31.91 | ||||||||
Shares issued | (61,083 | ) | 27.13 | |||||||
Forfeited | (5,000 | ) | 28.91 | |||||||
Outstanding at December 31, 2012 | 151,549 | 30.49 | ||||||||
Granted | 67,100 | 44.41 | ||||||||
Shares issued | (88,775 | ) | 32.3 | |||||||
Forfeited | (17,500 | ) | 37.75 | |||||||
Outstanding at December 31, 2013 | 112,374 | $36.24 | ||||||||
At December 31, 2013, 2012 and 2011 a total of 17.8 million, 19.3 million and 18.6 million shares, respectively, were available for grant under the ICP. | ||||||||||
Stock-based compensation expense and related income tax benefits were as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Total stock-based compensation expense (included in selling and administrative expense) | $ | 137 | $ | 116 | $ | 84 | ||||
Income tax benefits related to stock-based compensation | 74 | 48 | 34 | |||||||
At December 31, 2013, $116 million of compensation cost, net of estimated forfeitures, related to unvested | ||||||||||
restricted performance shares, executive continuity awards and restricted stock attributable to future performance had not yet been recognized. This amount will be recognized in expense over a weighted-average period of 1.7 years. |
Financial_Information_By_Indus
Financial Information By Industry Segment And Geographic Area (Note) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||
Financial Information By Industry Segment And Geographic Area [Note Text Block] | ' | |||||||||||
International Paper’s industry segments, Industrial Packaging, Printing Papers, Consumer Packaging and Distribution Businesses, are consistent with the internal structure used to manage these businesses. All segments are differentiated on a common product, common customer basis consistent with the business segmentation generally used in the Forest Products industry. | ||||||||||||
For management purposes, International Paper reports the operating performance of each business based on earnings before interest and income taxes (EBIT). Intersegment sales and transfers are recorded at current market prices. | ||||||||||||
External sales by major product is determined by aggregating sales from each segment based on similar products or services. External sales are defined as those that are made to parties outside International Paper’s consolidated group, whereas sales by segment in the Net Sales table are determined using a management approach and include intersegment sales. | ||||||||||||
The Company also holds a 50% interest in Ilim that is a separate reportable industry segment. The Company recorded equity earnings (losses), net of taxes, of $(46) million, $56 million and $134 million in 2013, 2012, and 2011, respectively, for Ilim. | ||||||||||||
INFORMATION BY INDUSTRY SEGMENT | ||||||||||||
Net Sales | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 14,810 | $ | 13,280 | $ | 10,430 | ||||||
Printing Papers | 6,205 | 6,230 | 6,215 | |||||||||
Consumer Packaging | 3,435 | 3,170 | 3,710 | |||||||||
Distribution | 5,650 | 6,040 | 6,630 | |||||||||
Corporate and Intersegment Sales | (1,020 | ) | (887 | ) | (951 | ) | ||||||
Net Sales | $ | 29,080 | $ | 27,833 | $ | 26,034 | ||||||
Operating Profit | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 1,801 | $ | 1,066 | $ | 1,147 | ||||||
Printing Papers | 271 | 599 | 872 | |||||||||
Consumer Packaging | 161 | 268 | 163 | |||||||||
Distribution | (389 | ) | 22 | 34 | ||||||||
Operating Profit | 1,844 | 1,955 | 2,216 | |||||||||
Interest expense, net | (612 | ) | (672 | ) | (541 | ) | ||||||
Noncontrolling interests / equity earnings adjustment (a) | 1 | — | 10 | |||||||||
Corporate items, net | (29 | ) | (51 | ) | (102 | ) | ||||||
Restructuring and other charges | (32 | ) | (51 | ) | (82 | ) | ||||||
Net gains (losses) on sales and impairments of businesses | — | 2 | — | |||||||||
Non-operating pension expense | (323 | ) | (159 | ) | (43 | ) | ||||||
Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings | $ | 849 | $ | 1,024 | $ | 1,458 | ||||||
Restructuring and Other Charges | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | (2 | ) | $ | 14 | $ | 20 | |||||
Printing Papers | 118 | — | (24 | ) | ||||||||
Consumer Packaging | 45 | — | 2 | |||||||||
Distribution | 32 | 44 | 49 | |||||||||
Corporate | 17 | 51 | 55 | |||||||||
Restructuring and Other Charges | $ | 210 | $ | 109 | $ | 102 | ||||||
Assets | ||||||||||||
In millions | 2013 | 2012 | ||||||||||
Industrial Packaging | $ | 15,083 | $ | 13,353 | ||||||||
Printing Papers | 6,574 | 7,198 | ||||||||||
Consumer Packaging | 3,222 | 3,123 | ||||||||||
Distribution | 1,186 | 1,639 | ||||||||||
Corporate and other (b) | 5,463 | 6,840 | ||||||||||
Assets | $ | 31,528 | $ | 32,153 | ||||||||
Capital Spending | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 629 | $ | 565 | $ | 426 | ||||||
Printing Papers | 294 | 449 | 364 | |||||||||
Consumer Packaging | 208 | 296 | 310 | |||||||||
Distribution | 9 | 10 | 8 | |||||||||
Subtotal | 1,140 | 1,320 | 1,108 | |||||||||
Corporate and other | 58 | 63 | 51 | |||||||||
Total from Continuing Operations | $ | 1,198 | $ | 1,383 | $ | 1,159 | ||||||
Depreciation, Amortization and Cost of Timber Harvested (c) | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 805 | $ | 755 | $ | 513 | ||||||
Printing Papers | 446 | 450 | 486 | |||||||||
Consumer Packaging | 206 | 196 | 217 | |||||||||
Distribution | 16 | 13 | 14 | |||||||||
Corporate | 74 | 72 | 102 | |||||||||
Depreciation and Amortization | $ | 1,547 | $ | 1,486 | $ | 1,332 | ||||||
External Sales By Major Product | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 14,729 | $ | 13,223 | $ | 10,376 | ||||||
Printing Papers | 5,443 | 5,483 | 5,510 | |||||||||
Consumer Packaging | 3,311 | 3,146 | 3,577 | |||||||||
Distribution | 5,597 | 5,981 | 6,571 | |||||||||
Net Sales | $ | 29,080 | $ | 27,833 | $ | 26,034 | ||||||
INFORMATION BY GEOGRAPHIC AREA | ||||||||||||
Net Sales (d) | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
United States (e) | $ | 21,854 | $ | 21,523 | $ | 19,434 | ||||||
EMEA | 3,284 | 2,935 | 3,183 | |||||||||
Pacific Rim and Asia | 2,112 | 1,816 | 1,807 | |||||||||
Americas, other than U.S. | 1,830 | 1,559 | 1,610 | |||||||||
Net Sales | $ | 29,080 | $ | 27,833 | $ | 26,034 | ||||||
Long-Lived Assets (f) | ||||||||||||
In millions | 2013 | 2012 | ||||||||||
United States | $ | 10,056 | $ | 10,484 | ||||||||
EMEA | 1,126 | 1,022 | ||||||||||
Pacific Rim and Asia | 946 | 982 | ||||||||||
Americas, other than U.S. | 1,772 | 1,773 | ||||||||||
Corporate | 329 | 310 | ||||||||||
Long-Lived Assets | $ | 14,229 | $ | 14,571 | ||||||||
(a) | Operating profits for industry segments include each segment’s percentage share of the profits of subsidiaries included in that segment that are less than wholly-owned. The pre-tax noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings. | |||||||||||
(b) | Includes corporate assets and assets of businesses held for sale. | |||||||||||
(c) | Excludes accelerated depreciation related to closure of mills. | |||||||||||
(d) | Net sales are attributed to countries based on the location of the seller. | |||||||||||
(e) | Export sales to unaffiliated customers were $2.4 billion in 2013, $2.2 billion in 2012 and $2.1 billion in 2011. | |||||||||||
(f) | Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net. |
Subsequent_Event_Subsequent_Ev
Subsequent Event Subsequent Event (Note) | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
On January 28, 2014, International Paper announced that its distribution solutions businesses xpedx and Unisource Worldwide, Inc. will merge under the terms of a definitive agreement that will result in the creation of a new publicly-traded company. | |
The transaction will be accomplished through a Reverse Morris Trust structure in which International Paper will indirectly contribute the assets of xpedx to a newly formed wholly-owned subsidiary, SpinCo, in exchange for shares of common stock of SpinCo, a special payment of $400 million, subject to adjustments, expected to be financed with new debt in SpinCo's capital structure, as well as the potential for an additional cash payment pursuant to an "earn-out" provision. International Paper will distribute shares of SpinCo to International Paper shareholders on a pro rata basis in a manner intended to be tax-free to International Paper and its shareholders. |
Interim_Financial_Results_Unau
Interim Financial Results (Unaudited) (Note) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Interim Financial Results (Unaudited) [Note Text Block] | ' | ||||||||||||||||||||
In millions, except per share amounts and stock prices | 1st | 2nd | 3rd | 4th Quarter | Year | ||||||||||||||||
Quarter | Quarter | Quarter | |||||||||||||||||||
2013 | |||||||||||||||||||||
Net sales | $ | 7,090 | $ | 7,335 | $ | 7,406 | $ | 7,249 | $ | 29,080 | |||||||||||
Gross margin (a) | 1,870 | 1,921 | 2,093 | 1,973 | 7,857 | ||||||||||||||||
Earnings (loss) from continuing operations before income taxes and equity earnings | 230 | (b) | 363 | (d) | 411 | (e) | (155 | ) | (g) | 849 | (b,d,e,g) | ||||||||||
Gain (loss) from discontinued operations | 26 | 24 | (10 | ) | 5 | 45 | |||||||||||||||
Net earnings (loss) attributable to International Paper Company | 318 | (b,c) | 259 | (d) | 382 | (e,f) | 436 | (g,h,i) | 1,395 | (b-i) | |||||||||||
Basic earnings (loss) per share attributable to International Paper Company common shareholders: | |||||||||||||||||||||
Earnings (loss) from continuing operations | $ | 0.66 | (b) | $ | 0.53 | (d) | $ | 0.88 | (e) | $ | 0.98 | (g) | $ | 3.05 | (b,d,e,g) | ||||||
Gain (loss) from discontinued operations | 0.06 | 0.05 | (0.02 | ) | 0.01 | 0.1 | |||||||||||||||
Net earnings (loss) | 0.72 | (b,c) | 0.58 | (d) | 0.86 | (e,f) | 0.99 | (g,h,i) | 3.15 | (b-i) | |||||||||||
Diluted earnings (loss) per share attributable to International Paper Company common shareholders: | |||||||||||||||||||||
Earnings (loss) from continuing operations | 0.65 | (b) | 0.52 | (d) | 0.87 | (e) | 0.97 | (g) | 3.01 | (b,d,e,g) | |||||||||||
Gain (loss) from discontinued operations | 0.06 | 0.05 | (0.02 | ) | 0.01 | 0.1 | |||||||||||||||
Net earnings (loss) | 0.71 | (b,c) | 0.57 | (d) | 0.85 | (e,f) | 0.98 | (g,h, i) | 3.11 | (b-i) | |||||||||||
Dividends per share of common stock | 0.3 | 0.3 | 0.3 | 0.35 | 1.25 | ||||||||||||||||
Common stock prices | |||||||||||||||||||||
High | $ | 47.25 | $ | 49.1 | $ | 50.33 | $ | 49.52 | $ | 50.33 | |||||||||||
Low | 39.47 | 42.36 | 43.95 | 42.92 | 39.47 | ||||||||||||||||
2012 | |||||||||||||||||||||
Net sales | $ | 6,655 | $ | 7,077 | $ | 7,026 | $ | 7,075 | $ | 27,833 | |||||||||||
Gross margin (a) | 1,671 | 1,807 | 1,886 | 1,882 | 7,246 | ||||||||||||||||
Earnings (loss) from continuing operations before income taxes and equity earnings | 213 | (j) | 204 | (k) | 320 | (l) | 287 | (m) | 1,024 | (j-m) | |||||||||||
Gain from discontinued operations | 5 | 16 | 14 | 10 | 45 | ||||||||||||||||
Net earnings (loss) attributable to International Paper Company | 188 | (j) | 134 | (k) | 237 | (l) | 235 | (m,n) | 794 | (j-n) | |||||||||||
Basic earnings (loss) per share attributable to International Paper Company common shareholders: | |||||||||||||||||||||
Earnings (loss) from continuing operations | $ | 0.42 | (j) | $ | 0.27 | (k) | $ | 0.51 | (l) | $ | 0.52 | (m) | $ | 1.72 | (j-m) | ||||||
Gain from discontinued operations | 0.01 | 0.04 | 0.03 | 0.02 | 0.1 | ||||||||||||||||
Net earnings (loss) | 0.43 | (j) | 0.31 | (k) | 0.54 | (l) | 0.54 | (m,n) | 1.82 | (j-n) | |||||||||||
Diluted earnings (loss) per share attributable to International Paper Company common shareholders: | |||||||||||||||||||||
Earnings (loss) from continuing operations | 0.42 | (j) | 0.27 | (k) | 0.51 | (l) | 0.51 | (m) | 1.7 | (j-m) | |||||||||||
Gain from discontinued operations | 0.01 | 0.04 | 0.03 | 0.02 | 0.1 | ||||||||||||||||
Net earnings (loss) | 0.43 | (j) | 0.31 | (k) | 0.54 | (l) | 0.53 | (m,n) | 1.8 | (j-n) | |||||||||||
Dividends per share of common stock | 0.2625 | 0.2625 | 0.2625 | 0.3 | 1.0875 | ||||||||||||||||
Common stock prices | |||||||||||||||||||||
High | $ | 36.5 | $ | 35.59 | $ | 37.25 | $ | 39.88 | $ | 39.88 | |||||||||||
Low | 29.45 | 27.29 | 28.29 | 32.95 | 27.29 | ||||||||||||||||
Note: Since basic and diluted earnings per share are computed independently for each period and category, full year per share amounts may not equal the sum of the four quarters. | |||||||||||||||||||||
Footnotes to Interim Financial Results | |||||||||||||||||||||
(a) | Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested. | ||||||||||||||||||||
(b) | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | ||||||||||||||||||||
(c) | Includes a tax benefit of $93 million associated with the closing of a U.S. federal income tax audit and a net tax expense of $2 million related to internal restructurings. In addition, the first quarter tax rate includes a benefit of approximately $35 million related to the enactment into law of The American Taxpayer Relief Act of 2012 in January 2013. | ||||||||||||||||||||
(d) | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | ||||||||||||||||||||
(e) | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | ||||||||||||||||||||
(f) | Includes a tax benefit of $31 million for an income tax reserve release. In addition, the third quarter tax rate includes a $30 million benefit related to the adjustment of the tax basis in certain of the Company's fixed assets. | ||||||||||||||||||||
(g) | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | ||||||||||||||||||||
(h) | Includes a tax benefit of $651 million associated with the closing of a U.S. federal tax audit and a net tax benefit of $3 million for other items. | ||||||||||||||||||||
(i) | Includes pre-tax noncontrolling interest income of $4 million ($3 million after taxes) associated with the write-off of a trade name intangible asset in our India Papers business. | ||||||||||||||||||||
(j) Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. | |||||||||||||||||||||
(k) Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | |||||||||||||||||||||
(l) | Includes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | ||||||||||||||||||||
(m) Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | |||||||||||||||||||||
(n) Includes a net expense of $14 million related to internal restructurings and a $5 million expense to adjust deferred tax assets related to post-retirement prescription drug coverage (Medicare Part D reimbursements). |
Schedule_II_Valuation_And_Qual
Schedule II - Valuation And Qualifying Accounts (Schedule) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||||
Schedule II - Valuation And Qualifying Accounts [Schedule Text Block) | ' | |||||||||||||||||
INTERNATIONAL PAPER COMPANY AND CONSOLIDATED SUBSIDIARIES | ||||||||||||||||||
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||
(In millions) | ||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||
Balance at | Additions | Additions | Deductions | Balance at | ||||||||||||||
Beginning | Charged to | Charged to | from | End of | ||||||||||||||
of Period | Earnings | Other | Reserves | Period | ||||||||||||||
Accounts | ||||||||||||||||||
Description | ||||||||||||||||||
Reserves Applied Against Specific Assets Shown on Balance Sheet: | ||||||||||||||||||
Doubtful accounts – current | $ | 119 | $ | 45 | $ | — | (55)(a) | $ | 109 | |||||||||
Restructuring reserves | 19 | 63 | — | (30)(b) | 52 | |||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||
Balance at | Additions | Additions | Deductions | Balance at | ||||||||||||||
Beginning | Charged to | Charged to | from | End of | ||||||||||||||
of Period | Earnings | Other | Reserves | Period | ||||||||||||||
Accounts | ||||||||||||||||||
Description | ||||||||||||||||||
Reserves Applied Against Specific Assets Shown on Balance Sheet: | ||||||||||||||||||
Doubtful accounts – current | $ | 126 | $ | 17 | $ | — | (24)(a) | $ | 119 | |||||||||
Restructuring reserves | 15 | 31 | — | (27)(b) | 19 | |||||||||||||
For the Year Ended December 31, 2011 | ||||||||||||||||||
Balance at | Additions | Additions | Deductions | Balance at | ||||||||||||||
Beginning | Charged to | Charged to | from | End of | ||||||||||||||
of Period | Earnings | Other | Reserves | Period | ||||||||||||||
Accounts | ||||||||||||||||||
Description | ||||||||||||||||||
Reserves Applied Against Specific Assets Shown on Balance Sheet: | ||||||||||||||||||
Doubtful accounts – current | $ | 129 | $ | 18 | $ | — | (21)(a) | $ | 126 | |||||||||
Restructuring reserves | 14 | 25 | — | (24)(b) | 15 | |||||||||||||
(a) | Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments. | |||||||||||||||||
(b) | Includes payments and deductions for reversals of previously established reserves that were no longer required. |
Summary_Of_Business_And_Signif1
Summary Of Business And Significant Accounting Policies (Policy) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Accounting Policies [Abstract] | ' | ||||
Nature Of Business | ' | ||||
NATURE OF BUSINESS | |||||
International Paper (the Company) is a global paper and packaging company that is complemented by an extensive North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. 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 | ' | ||||
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. | |||||
Consolidation | ' | ||||
CONSOLIDATION | |||||
The consolidated financial statements include the accounts of International Paper and its wholly-owned, controlled majority-owned and financially controlled subsidiaries. All significant intercompany balances and transactions are eliminated. | |||||
International Paper accounts for its investment in Ilim Holding S.A. (Ilim), a separate reportable industry segment, using the equity method of accounting. Prior to 2012, due to the complex organizational structure of Ilim’s operations, and the extended time required to prepare consolidated financial information in accordance with accounting principles generally accepted in the United States, the Company reported its share of Ilim’s operating results on a one-quarter lag basis. In 2012, the Company determined that the elimination of the one-quarter lag was preferable because the same period-end reporting date improves overall financial reporting as the impact of current events, economic conditions and global trends are consistently reflected in the financial statements. Beginning January 1, 2012, the Company has applied this change in accounting principle retrospectively to all prior financial reporting periods presented. | |||||
The elimination of the one-quarter reporting lag for Ilim had the following impact: | |||||
Consolidated Statement of Operations | |||||
In millions | 2011 | ||||
Equity earnings (loss), net of taxes | $ | (19 | ) | ||
Earnings (loss) from continuing operations | (19 | ) | |||
Net earnings (loss) attributable to International Paper Company | (19 | ) | |||
Basic earnings (loss) per share from continuing operations | (0.04 | ) | |||
Basic net earnings (loss) per share | (0.04 | ) | |||
Diluted earnings (loss) per share from continuing operations | (0.04 | ) | |||
Diluted net earnings (loss) per share | (0.04 | ) | |||
Investments in affiliated companies where the Company has significant influence over their operations are accounted for by the equity method. International Paper’s share of affiliates’ results of operations totaled earnings (loss) of $(39) million, $61 million and $140 million in 2013, 2012 and 2011, respectively. | |||||
Revenue Recognition | ' | ||||
REVENUE RECOGNITION | |||||
Revenue is recognized when the customer takes title and assumes the risks and rewards of ownership. Revenue is recorded at the time of shipment for terms designated f.o.b. (free on board) shipping point. For sales transactions designated f.o.b. destination, revenue is recorded when the product is delivered to the customer’s delivery site, when title and risk of loss are transferred. Timber and forestland sales revenue is generally recognized when title and risk of loss pass to the buyer. | |||||
Shipping And Handling Costs | ' | ||||
SHIPPING AND HANDLING COSTS | |||||
Shipping and handling costs, such as freight to our customers’ destinations, are included in distribution expenses in the consolidated statement of operations. When shipping and handling costs are included in the sales price charged for our products, they are recognized in net sales. | |||||
Annual Maintenance Costs | ' | ||||
ANNUAL MAINTENANCE COSTS | |||||
Costs for repair and maintenance activities are expensed in the month that the related activity is performed under the direct expense method of accounting. | |||||
Temporary Investments | ' | ||||
TEMPORARY INVESTMENTS | |||||
Temporary investments with an original maturity of three months or less are treated as cash equivalents and are stated at cost, which approximates market. | |||||
Inventories | ' | ||||
INVENTORIES | |||||
Inventories are valued at the lower of cost or market and include all costs directly associated with manufacturing products: materials, labor and manufacturing overhead. In the United States, costs of raw materials and finished pulp and paper products, are generally determined using the last-in, first-out method. Other inventories are valued using the first-in, first-out or average cost methods. | |||||
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 major pulp and paper mills, and the straight-line method is used for other plants and equipment. Annual straight-line depreciation rates are, for buildings — 2.50% to 8.50%, and for machinery and equipment — 5% to 33%. | |||||
Forestlands | ' | ||||
FORESTLANDS | |||||
At December 31, 2013, International Paper and its subsidiaries owned or managed approximately 332,000 acres of forestlands in Brazil, and through licenses and forest management agreements, had harvesting rights on government-owned forestlands in Russia. Costs attributable to timber are charged against income as trees are cut. The rate charged is determined annually based on the relationship of incurred costs to estimated current merchantable volume. | |||||
Goodwill | ' | ||||
GOODWILL | |||||
Goodwill relating to a single business reporting unit is included as an asset of the applicable segment, while goodwill arising from major acquisitions that involve multiple business segments is classified as a corporate asset for segment reporting purposes. For goodwill impairment testing, this goodwill is allocated to reporting units. Annual testing for possible goodwill impairment is performed as of the beginning of the fourth quarter of each year, with additional interim testing performed when management believes that it is more likely than not events or circumstances have occurred that would result in the impairment of a reporting unit’s goodwill. | |||||
In performing this testing, the Company estimates the fair value of its reporting units using the projected future cash flows to be generated by each unit over the estimated remaining useful operating lives of the unit’s assets, discounted using the estimated cost of capital for each reporting unit. These estimated fair values are then analyzed for reasonableness by comparing them to historic market transactions for businesses in the industry, and by comparing the sum of the reporting unit fair values and other corporate assets and liabilities divided by diluted common shares outstanding to the Company’s traded stock price on the testing date. For reporting units whose recorded value of net assets plus goodwill is in excess of their estimated fair values, the fair values of the individual assets and liabilities of the respective reporting units are then determined to calculate the amount of any goodwill impairment charge required. See Note 9 for further discussion. | |||||
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, measured by comparing their net book value to the undiscounted projected future cash flows generated by their use. Impaired assets are recorded at their estimated fair value. See Note 7 for further discussion. | |||||
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 worldwide tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Where the Company believes that a tax position is supportable for income tax purposes, the item is included in its income tax returns. Where treatment of a position is uncertain, liabilities are recorded based upon the Company’s evaluation of the “more likely than not” outcome considering the technical merits of the position based on specific tax regulations and the facts of each matter. Changes to recorded liabilities are made only when an identifiable event occurs that changes the likely outcome, such as settlement with the relevant tax authority, the expiration of statutes of limitation for the subject tax year, a change in tax laws, or a recent court case that addresses the matter. | |||||
While the judgments and estimates made by the Company are based on management’s evaluation of the technical merits of a matter, assisted as necessary by consultation with outside consultants, historical experience and other assumptions that management believes are appropriate and reasonable under current circumstances, actual resolution of these matters may differ from recorded estimated amounts, resulting in charges or credits that could materially affect future financial statements. | |||||
Stock-Based Compensation | ' | ||||
STOCK-BASED COMPENSATION | |||||
Compensation costs resulting from all stock-based compensation transactions are measured and recorded in the consolidated financial statements based on the grant-date fair value of the equity or liability instruments issued. In addition, liability awards are remeasured each reporting period. Compensation cost is recognized over the period that an employee provides service in exchange for the award. | |||||
Environmental Remediation Costs | ' | ||||
ENVIRONMENTAL REMEDIATION COSTS | |||||
Costs associated with environmental remediation obligations are accrued when such costs are probable and reasonably estimable. Such accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are discounted to their present value when the amount and timing of expected cash payments are reliably determinable. | |||||
Asset Retirement Obligations | ' | ||||
ASSET RETIREMENT OBLIGATIONS | |||||
A liability and an asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. The liability is accreted over time and the asset is depreciated over the life of the related equipment or facility. International Paper’s asset retirement obligations principally relate to closure costs for landfills. Revisions to the liability could occur due to changes in the estimated costs or timing of closures, or possible new federal or state regulations affecting these closures. | |||||
In connection with potential future closures or redesigns of certain production facilities, it is possible that the Company may be required to take steps to remove certain materials from these facilities. Applicable regulations and standards provide that the removal of certain materials would only be required if the facility were to be demolished or underwent major renovations. At this time, any such obligations have an indeterminate settlement date, and the Company believes that adequate information does not exist to apply an expected-present-value technique to estimate any such potential obligations. Accordingly, the Company does not record a liability for such remediation until a decision is made that allows reasonable estimation of the timing of such remediation. | |||||
Translation Of Financial Statements | ' | ||||
TRANSLATION OF FINANCIAL STATEMENTS | |||||
Balance sheets of international operations are translated into U.S. dollars at year-end exchange rates, while statements of operations are translated at average rates. Adjustments resulting from financial statement translations are included as cumulative translation adjustments in Accumulated other comprehensive loss. |
Summary_Of_Business_And_Signif2
Summary Of Business And Significant Accounting Policies Summary of Business and Significant Accounting Policies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Accounting Policies [Abstract] | ' | ||||
Impact on Consolidated Statement of Operations Due to Elimination of One Quarter Reporting Lag for Ilim [Table Text Block] | ' | ||||
The elimination of the one-quarter reporting lag for Ilim had the following impact: | |||||
Consolidated Statement of Operations | |||||
In millions | 2011 | ||||
Equity earnings (loss), net of taxes | $ | (19 | ) | ||
Earnings (loss) from continuing operations | (19 | ) | |||
Net earnings (loss) attributable to International Paper Company | (19 | ) | |||
Basic earnings (loss) per share from continuing operations | (0.04 | ) | |||
Basic net earnings (loss) per share | (0.04 | ) | |||
Diluted earnings (loss) per share from continuing operations | (0.04 | ) | |||
Diluted net earnings (loss) per share | (0.04 | ) | |||
Earnings_Per_Share_Attributabl1
Earnings Per Share Attributable To International Paper Company Common Shareholders (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share, Basic and Diluted [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 amounts | 2013 | 2012 | 2011 | |||||||||
Earnings (loss) from continuing operations | $ | 1,350 | $ | 749 | $ | 1,273 | ||||||
Effect of dilutive securities (a) | — | — | — | |||||||||
Earnings (loss) from continuing operations –assuming dilution | $ | 1,350 | $ | 749 | $ | 1,273 | ||||||
Average common shares outstanding | 443.3 | 435.2 | 432.2 | |||||||||
Effect of dilutive securities (a): | ||||||||||||
Restricted performance share plan | 4.5 | 5 | 4.8 | |||||||||
Stock options (b) | 0.3 | — | — | |||||||||
Average common shares outstanding – assuming dilution | 448.1 | 440.2 | 437 | |||||||||
Basic earnings (loss) per share from continuing operations | $ | 3.05 | $ | 1.72 | $ | 2.95 | ||||||
Diluted earnings (loss) per share from continuing operations | $ | 3.01 | $ | 1.7 | $ | 2.92 | ||||||
(a) | Securities are not included in the table in periods when antidilutive. | |||||||||||
(b) | Options to purchase 0.0 million, 9.1 million and 15.6 million shares for the years ended December 31,2013, 2012 and 2011, respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company’s common stock for each respective reporting date. |
Other_Comprehensive_Income_Oth1
Other Comprehensive Income Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||||||||||||||||||||||||||||
Equity [Abstract] | ' | ' | ' | ||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ' | ' | ||||||||||||||||||||||||||||||||||||
The following table presents changes in AOCI for the year ended December 31, 2013: | The following table presents changes in AOCI for the year ended December 31, 2012: | The following table presents changes in AOCI for the year ended December 31, 2011: | |||||||||||||||||||||||||||||||||||||
In millions | Defined Benefit Pension and Postretirement Items (a) | Change in Cumulative Foreign Currency Translation Adjustments (a) | Net Gains and Losses on Cash Flow Hedging Derivatives (a) | Total (a) | In millions | Defined Benefit Pension and Postretirement Items (a) | Change in Cumulative Foreign Currency Translation Adjustments (a) | Net Gains and Losses on Cash Flow Hedging Derivatives (a) | Total (a) | In millions | Defined Benefit Pension and Postretirement Items (a) | Change in Cumulative Foreign Currency Translation Adjustments (a) | Net Gains and Losses on Cash Flow Hedging Derivatives (a) | Total (a) | |||||||||||||||||||||||||
Balance as of January 1, 2013 | $ | (3,596 | ) | $ | (246 | ) | $ | 2 | $ | (3,840 | ) | Balance as of January 1, 2012 | $ | (2,852 | ) | $ | (118 | ) | $ | (35 | ) | $ | (3,005 | ) | Balance as of January 1, 2011 | $ | (2,203 | ) | $ | 378 | $ | — | $ | (1,825 | ) | ||||
Other comprehensive income (loss) before reclassifications | (939 | ) | (96 | ) | 15 | (1,020 | ) | ||||||||||||||||||||||||||||||||
Other comprehensive income (loss) before reclassifications | 1,184 | (443 | ) | — | 741 | Other comprehensive income (loss) before reclassifications | (788 | ) | (492 | ) | (43 | ) | (1,323 | ) | |||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | 195 | (35 | ) | 22 | 182 | Amounts reclassified from accumulated other comprehensive income | 139 | — | 8 | 147 | |||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | 307 | 17 | (7 | ) | 317 | ||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income | (744 | ) | (131 | ) | 37 | (838 | ) | Net Current Period Other Comprehensive Income | (649 | ) | (492 | ) | (35 | ) | (1,176 | ) | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income | 1,491 | (426 | ) | (7 | ) | 1,058 | Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest | — | (4 | ) | — | (4 | ) | ||||||||||||||||||||||||||
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest | — | 3 | — | 3 | |||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest | — | 23 | — | 23 | Balance as of December 31, 2011 | $ | (2,852 | ) | $ | (118 | ) | $ | (35 | ) | $ | (3,005 | ) | ||||||||||||||||||||||
Balance as of December 31, 2012 | $ | (3,596 | ) | $ | (246 | ) | $ | 2 | $ | (3,840 | ) | ||||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | (2,105 | ) | $ | (649 | ) | $ | (5 | ) | $ | (2,759 | ) | (a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. | ||||||||||||||||||||||||||
(a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. | (a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. | ||||||||||||||||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ' | ' | ||||||||||||||||||||||||||||||||||||
The following table presents details of the reclassifications out of AOCI for the three years ended: | |||||||||||||||||||||||||||||||||||||||
Details About Accumulated Other Comprehensive Income Components | Amount Reclassified from Accumulated Other Comprehensive Income (a) | Location of Amount Reclassified from AOCI | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||
In millions | |||||||||||||||||||||||||||||||||||||||
Defined benefit pension and postretirement items: | |||||||||||||||||||||||||||||||||||||||
Prior-service costs | $ | (9 | ) | $ | (2 | ) | $ | (6 | ) | (b) | Cost of products sold | ||||||||||||||||||||||||||||
Actuarial gains/(losses) | (493 | ) | (317 | ) | (221 | ) | (b) | Cost of products sold | |||||||||||||||||||||||||||||||
Total pre-tax amount | (502 | ) | (319 | ) | (227 | ) | |||||||||||||||||||||||||||||||||
Tax (expense)/benefit | 195 | 124 | 88 | ||||||||||||||||||||||||||||||||||||
Net of tax | (307 | ) | (195 | ) | (139 | ) | |||||||||||||||||||||||||||||||||
Change in cumulative foreign currency translation adjustments: | |||||||||||||||||||||||||||||||||||||||
Business acquisition/divestiture | (17 | ) | 48 | — | Net (gains) losses on sales and impairments of businesses | ||||||||||||||||||||||||||||||||||
Tax (expense)/benefit | — | (13 | ) | — | |||||||||||||||||||||||||||||||||||
Net of tax | (17 | ) | 35 | — | |||||||||||||||||||||||||||||||||||
Net gains and losses on cash flow hedging derivatives: | |||||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | 10 | (24 | ) | 10 | (c) | Cost of products sold | |||||||||||||||||||||||||||||||||
Fuel oil contracts | — | — | 6 | (c) | Cost of products sold | ||||||||||||||||||||||||||||||||||
Natural gas contracts | — | (11 | ) | (32 | ) | (c) | Cost of products sold | ||||||||||||||||||||||||||||||||
Total pre-tax amount | 10 | (35 | ) | (16 | ) | ||||||||||||||||||||||||||||||||||
Tax (expense)/benefit | (3 | ) | 13 | 8 | |||||||||||||||||||||||||||||||||||
Net of tax | 7 | (22 | ) | (8 | ) | ||||||||||||||||||||||||||||||||||
Total reclassifications for the period | $ | (317 | ) | $ | (182 | ) | $ | (147 | ) | ||||||||||||||||||||||||||||||
(a) Amounts in parentheses indicate debits to earnings/loss. | |||||||||||||||||||||||||||||||||||||||
(b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 16 for additional details). | |||||||||||||||||||||||||||||||||||||||
(c) This accumulated other comprehensive income component is included in our derivatives and hedging activities (see Note 14 for additional details). |
Restructuring_and_Other_Charge1
Restructuring and Other Charges (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ' | ' | ||||||||||||||||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ' | ' | ||||||||||||||||||||||||
During 2013, total restructuring and other charges of $210 million before taxes ($131 million after taxes) were recorded. These charges included: | During 2012, total restructuring and other charges of $109 million before taxes ($74 million after taxes) were recorded. These charges included: | During 2011, total restructuring and other charges of $102 million before taxes ($66 million after taxes) were recorded. These charges included: | |||||||||||||||||||||||||
In millions | Before-Tax | After-Tax | In millions | Before-Tax | After-Tax | In millions | Before-Tax | After-Tax | |||||||||||||||||||
Charges | Charges | Charges | Charges | Charges | Charges | ||||||||||||||||||||||
Early debt extinguishment costs (see Note 13) | $ | 25 | $ | 16 | Early debt extinguishment costs (see Note 13) | $ | 48 | $ | 30 | xpedx restructuring (a) | $ | 49 | $ | 34 | |||||||||||||
xpedx restructuring (a) | 32 | 19 | xpedx restructuring (a) | 44 | 28 | Early debt extinguishment costs (see Note 13) | 32 | 19 | |||||||||||||||||||
xpedx transaction costs | 22 | 14 | EMEA packaging restructuring (b) | 17 | 12 | Temple-Inland merger agreement | 20 | 12 | |||||||||||||||||||
Courtland mill shutdown (b) | 118 | 72 | Other | — | 4 | APPM acquisition | 18 | 12 | |||||||||||||||||||
Box plant closures | (13 | ) | (8 | ) | Total | $ | 109 | $ | 74 | Franklin, Virginia mill – closure costs (b) | (24 | ) | (15 | ) | |||||||||||||
Augusta paper machine shutdown (c) | 45 | 28 | Other | 7 | 4 | ||||||||||||||||||||||
Insurance reimbursements | (30 | ) | (19 | ) | (a) Includes $14 million of severance charges. | Total | $ | 102 | $ | 66 | |||||||||||||||||
Other (d) | 11 | 9 | (b) Includes $17 million of severance charges. | ||||||||||||||||||||||||
Total | $ | 210 | $ | 131 | |||||||||||||||||||||||
(a) | Includes $19 million of severance charges. | ||||||||||||||||||||||||||
(a) Includes $17 million of severance charges. | (b) | Includes a $21 million credit related to the reversal of an environmental reserve. | |||||||||||||||||||||||||
(b) Includes $73 million of accelerated depreciation and other non-cash charges, $42 million of severance charges and $3 million of other charges which are recorded in the Printing Papers segment. During 2013, the Company accelerated depreciation for certain Courtland assets, and diligently evaluated certain other assets for possible alternative uses by one of our other businesses. The net book value of these assets at December 31, 2013 was approximately $470 million. During 2014, we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014. | |||||||||||||||||||||||||||
(c) Includes $39 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges which are recorded in the Consumer Packaging segment. | |||||||||||||||||||||||||||
(d) Includes $2 million of severance charges. | |||||||||||||||||||||||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | ' | ' | ||||||||||||||||||||||||
The following table presents a rollforward of the severance and other costs for approximately 1,686 employees included in the 2013 restructuring charges. | The following table presents a rollforward of the severance and other costs for approximately 811 employees included in the 2012 restructuring charges: | The following table presents a rollforward of the severance and other costs for approximately 629 employees included in the 2011 restructuring charges. As of December 31, 2013, all of these employees had left the Company under these programs. | |||||||||||||||||||||||||
In millions | Severance | In millions | Severance | In millions | Severance | ||||||||||||||||||||||
and Other | and Other | and Other | |||||||||||||||||||||||||
Additions and adjustments | $ | 63 | Additions and adjustments | $ | 31 | Additions and adjustments | $ | 25 | |||||||||||||||||||
Cash charges in 2013 | (21 | ) | Cash charges in 2012 | (15 | ) | Cash charges in 2011 | (16 | ) | |||||||||||||||||||
Balance, December 31, 2013 | $ | 42 | Cash charges in 2013 | (6 | ) | Cash charges in 2012 | (8 | ) | |||||||||||||||||||
Balance, December 31, 2013 | $ | 10 | Cash charges in 2013 | (1 | ) | ||||||||||||||||||||||
Balance, December 31, 2013 | $ | — | |||||||||||||||||||||||||
Acquisitions_And_Joint_Venture1
Acquisitions And Joint Ventures Acquisitions and Joint Ventures (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Olmuksan Joint Venture [Member] | ' | |||||
Business Acquisition [Line Items] | ' | |||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||
The following table summarizes the final allocation of the purchase price to the fair value of assets and liabilities acquired as of January 1, 2013, which was completed in the fourth quarter of 2013. | ||||||
In millions | ||||||
Cash and temporary investments | $ | 5 | ||||
Accounts and notes receivable | 72 | |||||
Inventory | 31 | |||||
Other current assets | 2 | |||||
Plants, properties and equipment | 106 | |||||
Investments | 11 | |||||
Total assets acquired | 227 | |||||
Notes payable and current maturities of long-term debt | 17 | |||||
Accounts payable and accrued liabilities | 27 | |||||
Deferred income tax liability | 4 | |||||
Postretirement and postemployment benefit obligation | 6 | |||||
Total liabilities assumed | 54 | |||||
Noncontrolling interest | 18 | |||||
Net assets acquired | $ | 155 | ||||
Temple Inland Inc [Member] | ' | |||||
Business Acquisition [Line Items] | ' | |||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||
The following table summarizes the allocation of the purchase price to the fair value of assets and liabilities acquired as of February 13, 2012, which was finalized in the fourth quarter of 2012. | ||||||
In millions | ||||||
Accounts and notes receivable | $ | 466 | ||||
Inventory | 484 | |||||
Deferred income tax assets – current | 140 | |||||
Other current assets | 57 | |||||
Plants, properties and equipment | 2,911 | |||||
Financial assets of special purpose entities | 2,091 | |||||
Goodwill | 2,139 | |||||
Other intangible assets | 693 | |||||
Deferred charges and other assets | 54 | |||||
Total assets acquired | 9,035 | |||||
Notes payable and current maturities of long-term debt | 130 | |||||
Accounts payable and accrued liabilities | 704 | |||||
Long-term debt | 527 | |||||
Nonrecourse financial liabilities of special purpose entities | 2,030 | |||||
Deferred income tax liability | 1,252 | |||||
Pension benefit obligation | 338 | |||||
Postretirement and postemployment benefit obligation | 99 | |||||
Other liabilities | 221 | |||||
Total liabilities assumed | 5,301 | |||||
Net assets acquired | $ | 3,734 | ||||
Schedule Of Finite And Indefinite Lived Intangible Assets Acquired As Part Of Business Combination Table [Text Block] | ' | |||||
The identifiable intangible assets acquired in connection with the Temple-Inland acquisition included the following: | ||||||
In millions | Estimated | Average | ||||
Fair Value | Remaining | |||||
Useful Life | ||||||
Asset Class: | (at acquisition | |||||
date) | ||||||
Customer relationships | $ | 536 | 12-17 years | |||
Developed technology | 8 | 5-10 years | ||||
Tradenames | 109 | Indefinite | ||||
Favorable contracts | 14 | 4-7 years | ||||
Non-compete agreement | 26 | 2 years | ||||
Total | $ | 693 | ||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | |||||
The following unaudited pro forma information for the year ended December 31, 2012 represents the results of operations of International Paper as if the Temple-Inland acquisition had occurred on January 1, 2012. This information is based on historical results of operations, adjusted for certain acquisition accounting adjustments and does not purport to represent International Paper’s actual results of operations as if the transaction described above would have occurred as of January 1, 2012, nor is it necessarily indicative of future results. | ||||||
In millions, except per share amounts | 2012 | |||||
Net sales | $ | 28,125 | ||||
Earnings (loss) from continuing operations (a) | 805 | |||||
Net earnings (loss) (a) | 845 | |||||
Diluted earnings (loss) from continuing operations per share (a) | 1.82 | |||||
Diluted net earnings (loss) per share (a) | 1.92 | |||||
(a) Attributable to International Paper Company common shareholders. | ||||||
Andhra Pradesh Paper Mills Limited [Member] | ' | |||||
Business Acquisition [Line Items] | ' | |||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||
The following table summarizes the final allocation of the purchase price to the fair value of assets and liabilities acquired as of October 14, 2011. | ||||||
In millions | ||||||
Cash and temporary investments | $ | 3 | ||||
Accounts and notes receivable | 7 | |||||
Inventory | 43 | |||||
Other current assets | 13 | |||||
Plants, properties and equipment | 352 | |||||
Goodwill | 138 | |||||
Deferred income tax asset | 4 | |||||
Other intangible assets | 91 | |||||
Other long-term assets | 1 | |||||
Total assets acquired | 652 | |||||
Accounts payable and accrued liabilities | 67 | |||||
Long-term debt | 47 | |||||
Other liabilities | 11 | |||||
Deferred income tax liability | 90 | |||||
Total liabilities assumed | 215 | |||||
Noncontrolling interest | 37 | |||||
Net assets acquired | $ | 400 | ||||
Schedule Of Finite And Indefinite Lived Intangible Assets Acquired As Part Of Business Combination Table [Text Block] | ' | |||||
The identifiable intangible assets acquired in connection with the APPM acquisition included the following: | ||||||
In millions | Estimated | Average | ||||
Fair Value | Remaining | |||||
Useful Life | ||||||
Asset Class: | (at acquisition | |||||
date) | ||||||
Non-compete agreement | $ | 58 | 6 years | |||
Tradenames | 20 | Indefinite | ||||
Fuel supply agreements | 5 | 2 years | ||||
Power purchase arrangements | 5 | 5 years | ||||
Wholesale distribution network | 3 | 18 years | ||||
Total | $ | 91 | ||||
Orsa IP [Member] | ' | |||||
Business Acquisition [Line Items] | ' | |||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||
The following table summarizes the final allocation of the purchase price to the fair value of assets and liabilities acquired as of January 14, 2013, which was completed in the fourth quarter of 2013. | ||||||
In millions | ||||||
Cash and temporary investments | $ | 16 | ||||
Accounts and notes receivable | 5 | |||||
Inventory | 27 | |||||
Plants, properties and equipment | 290 | |||||
Goodwill | 260 | |||||
Other intangible assets | 110 | |||||
Other long-term assets | 2 | |||||
Total assets acquired | 710 | |||||
Accounts payable and accrued liabilities | 68 | |||||
Deferred income tax liability | 37 | |||||
Total liabilities assumed | 105 | |||||
Noncontrolling interest | 134 | |||||
Net assets acquired | $ | 471 | ||||
Schedule Of Finite And Indefinite Lived Intangible Assets Acquired As Part Of Business Combination Table [Text Block] | ' | |||||
The identifiable intangible assets acquired in connection with the Orsa IP acquisition included the following: | ||||||
In millions | Estimated | Average | ||||
Fair Value | Remaining | |||||
Useful Life | ||||||
Asset Class: | (at acquisition | |||||
date) | ||||||
Customer relationships | $ | 88 | 12 years | |||
Trademark | 3 | 6 years | ||||
Wood supply agreement | 19 | 25 years | ||||
Total | $ | 110 | ||||
Supplementary_Financial_Statem1
Supplementary Financial Statement Information (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Supplementary Financial Statement Information [Abstract] | ' | |||||||||
Temporary Investments [Table Text Block] | ' | |||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
Temporary Investments | $ | 1,398 | $ | 934 | ||||||
Accounts And Notes Receivable [Table Text Block] | ' | |||||||||
Accounts and notes receivable, net of allowances, by classification were: | ||||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
Accounts and notes receivable: | ||||||||||
Trade | $ | 3,497 | $ | 3,316 | ||||||
Other | 259 | 246 | ||||||||
Total | $ | 3,756 | $ | 3,562 | ||||||
Inventories By Major Category [Table Text Block] | ' | |||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
Raw materials | $ | 372 | $ | 360 | ||||||
Finished pulp, paper and packaging products | 1,834 | 1,728 | ||||||||
Operating supplies | 572 | 588 | ||||||||
Other | 47 | 54 | ||||||||
Inventories | $ | 2,825 | $ | 2,730 | ||||||
Plants, Properties And Equipment By Major Classification [Table Text Block] | ' | |||||||||
In millions at December 31 | 2013 | 2012 | ||||||||
Pulp, paper and packaging facilities | ||||||||||
Mills | $ | 22,105 | $ | 23,625 | ||||||
Packaging plants | 10,163 | 7,184 | ||||||||
Other plants, properties and equipment | 1,478 | 2,074 | ||||||||
Gross cost | 33,746 | 32,883 | ||||||||
Less: Accumulated depreciation | 20,074 | 18,934 | ||||||||
Plants, properties and equipment, net | $ | 13,672 | $ | 13,949 | ||||||
Schedule Of Depreciation Expense [Table Text Block] | ' | |||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Depreciation expense | $ | 1,423 | $ | 1,399 | $ | 1,263 | ||||
Schedule of Interest Payments [Table Text Block] | ' | |||||||||
Cash payments related to interest were as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Interest payments | $ | 751 | $ | 740 | $ | 629 | ||||
Schedule of Other Income and Other Expense [Table Text Block] | ' | |||||||||
Amounts related to interest were as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Interest expense (a) | $ | 669 | $ | 743 | $ | 596 | ||||
Interest income (a) | 57 | 71 | 55 | |||||||
Capitalized interest costs | 17 | 37 | 22 | |||||||
(a) | Interest expense and interest income exclude approximately $45 million, $49 million and $49 million in 2013, 2012 and 2011, respectively, related to investments in and borrowings from variable interest entities for which the Company has a legal right of offset (see Note 12). |
Goodwill_And_Other_Intangibles1
Goodwill And Other Intangibles (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | |||||||||||||||||||||||||||||||||||||
Changes In Goodwill Balances [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||||||
The following tables present changes in the goodwill balances as allocated to each business segment for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||
In millions | Industrial | Printing | Consumer | Distribution | Total | ||||||||||||||||||||||||||||||||||
In millions | Industrial | Printing | Consumer | Distribution | Total | Packaging | Papers | Packaging | |||||||||||||||||||||||||||||||
Packaging | Papers | Packaging | Balance as of January 1, 2012 | ||||||||||||||||||||||||||||||||||||
Balance as of January 1, 2013 | Goodwill | $ | 1,157 | $ | 2,439 | $ | 1,779 | $ | 400 | $ | 5,775 | ||||||||||||||||||||||||||||
Goodwill | $ | 3,165 | $ | 2,396 | $ | 1,783 | $ | 400 | $ | 7,744 | |||||||||||||||||||||||||||||
Accumulated impairment losses (a) | — | (1,765 | ) | (1,664 | ) | — | (3,429 | ) | |||||||||||||||||||||||||||||||
Accumulated impairment losses (a) | — | (1,765 | ) | (1,664 | ) | — | (3,429 | ) | |||||||||||||||||||||||||||||||
1,157 | 674 | 115 | 400 | 2,346 | |||||||||||||||||||||||||||||||||||
3,165 | 631 | 119 | 400 | 4,315 | |||||||||||||||||||||||||||||||||||
Reclassifications and other (b) | 1 | (40 | ) | 1 | — | (38 | ) | ||||||||||||||||||||||||||||||||
Reclassifications and other (b) | (28 | ) | (63 | ) | 3 | — | (88 | ) | |||||||||||||||||||||||||||||||
Additions/reductions | 2,007 | (c) | (3 | ) | (d) | 3 | (e) | — | 2,007 | ||||||||||||||||||||||||||||||
Additions/reductions | 293 | (c) | (22 | ) | (d) | 1 | — | 272 | |||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||
Impairment loss | — | (112 | ) | (e) | — | (400 | ) | (e) | (512 | ) | Goodwill | 3,165 | 2,396 | 1,783 | 400 | 7,744 | |||||||||||||||||||||||
Balance as of December 31, 2013 | Accumulated impairment losses (a) | — | (1,765 | ) | (1,664 | ) | — | (3,429 | ) | ||||||||||||||||||||||||||||||
Goodwill | 3,430 | 2,311 | 1,787 | 400 | 7,928 | ||||||||||||||||||||||||||||||||||
Total | $ | 3,165 | $ | 631 | $ | 119 | $ | 400 | $ | 4,315 | |||||||||||||||||||||||||||||
Accumulated impairment losses (a) | — | (1,877 | ) | (1,664 | ) | (400 | ) | (3,941 | ) | ||||||||||||||||||||||||||||||
Total | $ | 3,430 | $ | 434 | $ | 123 | $ | — | $ | 3,987 | |||||||||||||||||||||||||||||
(a) | Represents accumulated goodwill impairment charges since the adoption of ASC 350, “Intangibles – Goodwill and Other” in 2002. | ||||||||||||||||||||||||||||||||||||||
(b) | Represents the effects of foreign currency translations and reclassifications. | ||||||||||||||||||||||||||||||||||||||
(a) | Represents accumulated goodwill impairment charges since the adoption of ASC 350, “Intangibles – Goodwill and Other” in 2002. | ||||||||||||||||||||||||||||||||||||||
(c) | Reflects the acquisition of Temple-Inland, net of amounts written off related to the divestiture of two Temple-Inland mills (Ontario, California and New Johnsonville, Tennessee) and one International Paper mill (Oxnard, (Hueneme), California). Also excludes the goodwill for Building Products which was reclassified to Businesses Held for Sale. | ||||||||||||||||||||||||||||||||||||||
(b) | Represents the effects of foreign currency translations and reclassifications. | ||||||||||||||||||||||||||||||||||||||
(d) | Reflects an increase related to a purchase price adjustment of Andhra Pradesh Paper Mills in India partially offset by a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. | ||||||||||||||||||||||||||||||||||||||
(c) | Reflects $260 million for Orsa IP, the newly formed joint venture in Brazil and the adjustment of $54 million ($33 million after-tax) previously included as a trade name intangible asset in Deferred Charges and Other Assets on the balance sheet. | ||||||||||||||||||||||||||||||||||||||
(e) | Represents the impact of the change in estimate of the contributed land in the Shandong IP & Sun Food Packaging Co., Ltd. joint venture in China entered into in 2011. | ||||||||||||||||||||||||||||||||||||||
(d) | Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. | ||||||||||||||||||||||||||||||||||||||
(e) | Represents the impairment of goodwill for the India Papers business and xpedx. | ||||||||||||||||||||||||||||||||||||||
Identifiable Intangible Assets [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||||||
Identifiable intangible assets comprised the following: | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
In millions at | Gross | Accumulated | Gross | Accumulated | |||||||||||||||||||||||||||||||||||
December 31 | Carrying | Amortization | Carrying | Amortization | |||||||||||||||||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||||||||||||||||
Customer relationships and lists | $ | 602 | $ | 139 | $ | 644 | $ | 112 | |||||||||||||||||||||||||||||||
Non-compete agreements | 76 | 46 | 83 | 30 | |||||||||||||||||||||||||||||||||||
Tradenames, patents and trademarks | 67 | (a) | 33 | 144 | 16 | ||||||||||||||||||||||||||||||||||
Land and water rights | 76 | 5 | 87 | 6 | |||||||||||||||||||||||||||||||||||
Fuel and power agreements | 7 | 2 | 17 | 12 | |||||||||||||||||||||||||||||||||||
Software | 17 | 15 | 22 | 19 | |||||||||||||||||||||||||||||||||||
Other | 75 | 32 | 83 | 19 | |||||||||||||||||||||||||||||||||||
Total | $ | 920 | $ | 272 | $ | 1,080 | $ | 214 | |||||||||||||||||||||||||||||||
(a) | Includes $15 million recorded to write-off a tradename intangible asset of the Company's India Papers business. This amount is included in Impairment of goodwill and other intangibles in the accompanying consolidated statement of operations. | ||||||||||||||||||||||||||||||||||||||
Amortization Expense Of Intangible Assets [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||||||
The Company recognized the following amounts as amortization expense related to intangible assets: | |||||||||||||||||||||||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
Amortization expense related to intangible assets | $ | 87 | $ | 58 | $ | 32 | |||||||||||||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
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 millions | 2013 | 2012 | 2011 | ||||||||||
Earnings (loss) | |||||||||||||
U.S. | $ | 394 | $ | 478 | $ | 874 | |||||||
Non-U.S. | 455 | 546 | 584 | ||||||||||
Earnings (loss) from continuing operations before income taxes and equity earnings | $ | 849 | $ | 1,024 | $ | 1,458 | |||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
The provision (benefit) for income taxes (excluding noncontrolling interests) by taxing jurisdiction was as follows: | |||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||
Current tax provision (benefit) | |||||||||||||
U.S. federal | $ | (697 | ) | $ | 14 | $ | (78 | ) | |||||
U.S. state and local | (95 | ) | 11 | (19 | ) | ||||||||
Non-U.S. | 123 | 102 | 91 | ||||||||||
$ | (669 | ) | $ | 127 | $ | (6 | ) | ||||||
Deferred tax provision (benefit) | |||||||||||||
U.S. federal | $ | 186 | $ | 226 | $ | 207 | |||||||
U.S. state and local | (21 | ) | 6 | 46 | |||||||||
Non-U.S. | (19 | ) | (28 | ) | 64 | ||||||||
$ | 146 | $ | 204 | $ | 317 | ||||||||
Income tax provision | $ | (523 | ) | $ | 331 | $ | 311 | ||||||
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 millions | 2013 | 2012 | 2011 | ||||||||||
Earnings (loss) from continuing | $ | 849 | $ | 1,024 | $ | 1,458 | |||||||
operations before income taxes | |||||||||||||
and equity earnings | |||||||||||||
Statutory U.S. income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Tax expense (benefit) using statutory U.S. income tax rate | 297 | 358 | 510 | ||||||||||
State and local income taxes | (4 | ) | 11 | 16 | |||||||||
Tax rate and permanent differences on non-U.S. earnings | (90 | ) | (116 | ) | (34 | ) | |||||||
Net U.S. tax on non-U.S. dividends | (15 | ) | 48 | 23 | |||||||||
Tax benefit on manufacturing activities | (27 | ) | (15 | ) | (8 | ) | |||||||
Non-deductible business expenses | 4 | 7 | 6 | ||||||||||
Non-deductible goodwill | 147 | 34 | — | ||||||||||
Tax Audits | (770 | ) | — | — | |||||||||
Sales of non-strategic businesses | — | — | (195 | ) | |||||||||
Retirement plan dividends | (5 | ) | (5 | ) | (5 | ) | |||||||
Tax basis adjustments | (33 | ) | — | — | |||||||||
Tax credits | (23 | ) | — | (7 | ) | ||||||||
Medicare subsidy | — | 5 | — | ||||||||||
Other, net | (4 | ) | 4 | 5 | |||||||||
Income tax provision | $ | (523 | ) | $ | 331 | $ | 311 | ||||||
Effective income tax rate | (62 | )% | 32 | % | 21 | % | |||||||
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, 2013 and 2012, were as follows: | |||||||||||||
In millions | 2013 | 2012 | |||||||||||
Deferred income tax assets: | |||||||||||||
Postretirement benefit accruals | $ | 193 | $ | 229 | |||||||||
Pension obligations | 725 | 1,620 | |||||||||||
Alternative minimum and other tax credits | 515 | 752 | |||||||||||
Net operating loss carryforwards | 610 | 579 | |||||||||||
Compensation reserves | 281 | 242 | |||||||||||
Other | 284 | 406 | |||||||||||
Gross deferred income tax assets | 2,608 | 3,828 | |||||||||||
Less: valuation allowance | (413 | ) | (400 | ) | |||||||||
Net deferred income tax asset | $ | 2,195 | $ | 3,428 | |||||||||
Deferred income tax liabilities: | |||||||||||||
Intangibles | $ | (304 | ) | $ | (378 | ) | |||||||
Plants, properties and equipment | (2,919 | ) | (3,126 | ) | |||||||||
Forestlands and related installment sales | (2,307 | ) | (2,511 | ) | |||||||||
Gross deferred income tax liabilities | $ | (5,530 | ) | $ | (6,015 | ) | |||||||
Net deferred income tax liability | $ | (3,335 | ) | $ | (2,587 | ) | |||||||
Schedule of Unrecognized Tax Benefits Rollforward [Table Text Block] | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||
Balance at January 1 | $ | (972 | ) | $ | (857 | ) | $ | (199 | ) | ||||
(Additions) reductions based on tax positions related to current year | (22 | ) | 12 | (2 | ) | ||||||||
Additions for tax positions of prior years | (29 | ) | (140 | ) | (719 | ) | |||||||
Reductions for tax positions of prior years | 824 | 6 | 29 | ||||||||||
Settlements | 26 | 2 | 2 | ||||||||||
Expiration of statutes of | 11 | 7 | 25 | ||||||||||
limitations | |||||||||||||
Currency translation adjustment | 1 | (2 | ) | 7 | |||||||||
Balance at December 31 | $ | (161 | ) | $ | (972 | ) | $ | (857 | ) | ||||
Schedule of Components of Net Provisions Related to Special Items [Table Text Block] | ' | ||||||||||||
Included in the Company’s 2013, 2012 and 2011 income tax provision (benefit) are $(924) million, $(85) million and $(266) million, respectively, related to special items. The components of the net provisions related to special items were as follows: | |||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||
Special items | $ | (151 | ) | $ | (104 | ) | $ | (293 | ) | ||||
Tax-related adjustments: | |||||||||||||
Internal restructurings | (4 | ) | 14 | 24 | |||||||||
India deal costs | — | — | 9 | ||||||||||
IP UK valuation allowance release | — | — | (13 | ) | |||||||||
Settlement of tax audits and legislative changes | (770 | ) | — | 5 | |||||||||
Medicare D deferred income tax write-off | — | 5 | — | ||||||||||
Other tax adjustments | 1 | — | 2 | ||||||||||
Income tax provision (benefit) related to special items | $ | (924 | ) | $ | (85 | ) | $ | (266 | ) | ||||
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 carryforwards: | |||||||||||||
In millions | 2014 | 2024 | Indefinite | Total | |||||||||
Through | Through | ||||||||||||
2023 | 2033 | ||||||||||||
U.S. federal and non-U.S. NOLs | $ | 21 | $ | 3 | $ | 400 | $ | 424 | |||||
State taxing jurisdiction NOLs | 152 | 120 | — | 272 | |||||||||
U.S. federal, non- | 117 | 31 | 454 | 602 | |||||||||
U.S. and state tax credit carryforwards | |||||||||||||
State capital loss carryforwards | 23 | — | — | 23 | |||||||||
Total | $ | 313 | $ | 154 | $ | 854 | $ | 1,321 | |||||
Commitments_And_Contingent_Lia1
Commitments And Contingent Liabilities (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | ' | ||||||||||||||||||
At December 31, 2013, total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: | |||||||||||||||||||
In millions | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | |||||||||||||
Lease obligations | $ | 171 | $ | 133 | $ | 97 | $ | 74 | $ | 59 | $ | 162 | |||||||
Purchase obligations (a) | 3,170 | 770 | 642 | 529 | 453 | 2,404 | |||||||||||||
Total | $ | 3,341 | $ | 903 | $ | 739 | $ | 603 | $ | 512 | $ | 2,566 | |||||||
(a) | Includes $3.3 billion relating to fiber supply agreements entered into at the time of the Company’s 2006 Transformation Plan forestland sales and in conjunction with the 2008 acquisition of Weyerhaeuser Company’s Containerboard, Packaging and Recycling business. |
Variable_Interest_Entities_And1
Variable Interest Entities And Preferred Securities Of Subsidiaries (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Two Thousand And Six Financing Entities [Member] | ' | |||||||||
Schedule of Activity Between Company and Financing Entities [Table Text Block] | ' | |||||||||
Activity between the Company and the Entities was as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Revenue (loss) (a) | $ | 45 | $ | 49 | $ | 49 | ||||
Expense (a) | 79 | 90 | 79 | |||||||
Cash receipts (b) | 33 | 36 | 28 | |||||||
Cash payments (c) | 84 | 87 | 79 | |||||||
(a) | The net expense related to the Company’s interest in the Entities is included in Interest expense, net in the accompanying consolidated statement of operations, as International Paper has and intends to effect its legal right to offset as discussed above. | |||||||||
(b) | The cash receipts are equity distributions from the Entities to International Paper. | |||||||||
(c) | The semi-annual payments are related to interest on the associated debt obligations discussed above. | |||||||||
2002 Financing Entities [Member] | ' | |||||||||
Schedule of Activity Between Company and Financing Entities [Table Text Block] | ' | |||||||||
Activity between the Company and the 2002 financing entities was as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Revenue (loss) (a) | $ | — | $ | — | $ | 2 | ||||
Expense (b) | — | — | 3 | |||||||
Cash receipts (c) | — | 252 | 192 | |||||||
Cash payments (d) | — | 159 | 244 | |||||||
(a) | The revenue is included in Equity earnings (loss), net of tax in the accompanying consolidated statement of operations. | |||||||||
(b) | The expense is included in Interest expense, net in the accompanying consolidated statement of operations. | |||||||||
(c) | The cash receipts are equity distributions from the 2002 financing entities to International Paper and cash receipts from the maturity of the 2002 Monetized Notes. | |||||||||
(d) | The cash payments include both interest and principal on the associated debt obligations. | |||||||||
Two Thousand Seven Financing Entities [Member] | ' | |||||||||
Schedule of Activity Between Company and Financing Entities [Table Text Block] | ' | |||||||||
Activity between the Company and the 2007 financing entities was as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Revenue (loss) (a) | $ | 27 | $ | 28 | $ | — | ||||
Expense (b) | 29 | 28 | — | |||||||
Cash receipts (c) | 8 | 12 | — | |||||||
Cash payments (d) | 21 | 22 | — | |||||||
(a) | The revenue is included in Interest expense, net in the accompanying consolidated statement of operations and includes approximately $19 million and $17 million for the years ended December 31, 2013 and 2012, respectively, of accretion income for the amortization of the purchase accounting adjustment of the Financial assets of special purpose entities. | |||||||||
(b) | The expense is included in Interest expense, net in the accompanying consolidated statement of operations and includes $7 million and $6 million for the years ended December 31, 2013 and 2012, respectively, of accretion expense for the amortization of the purchase accounting adjustment on the Nonrecourse financial liabilities of special purpose 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. |
Debt_And_Lines_Of_Credit_Table
Debt And Lines Of Credit (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Debt Instruments [Abstract] | ' | |||||||||
Debt Extinguishment [Table Text Block] | ' | |||||||||
Amounts related to early debt extinguishment during the years ended December 31, 2013, 2012 and 2011 were as follows: | ||||||||||
In millions | 2013 | 2012 | 2011 | |||||||
Debt reductions (a) | $ | 574 | $ | 1,272 | $ | 129 | ||||
Pre-tax early debt extinguishment costs (b) | 25 | 48 | 32 | |||||||
(a) | Reductions related to notes with interest rates ranging from 1.625% to 9.375% with original maturities from 2012 to 2041 for the years ended December 31, 2013, 2012 and 2011. | |||||||||
(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 31 | 2013 | 2012 | ||||||||
8.7% note – due 2038 | $ | 264 | $ | 263 | ||||||
9 3/8% note – due 2019 | 848 | 846 | ||||||||
7.95% debentures – due 2018 | 1,429 | 1,462 | ||||||||
7.5% note – due 2021 | 999 | 999 | ||||||||
7.4% debentures – due 2014 | — | 303 | ||||||||
7.3% notes – due 2039 | 721 | 721 | ||||||||
6 7/8% notes – due 2023 – 2029 | 130 | 130 | ||||||||
6.65% note – due 2037 | 4 | 4 | ||||||||
6.4% to 7.75% debentures due 2025 – 2027 | 142 | 142 | ||||||||
6 3/8% to 6 5/8% notes – due 2016 – 2018 | 364 | 373 | ||||||||
6.0% notes – due 2041 | 585 | 585 | ||||||||
5.25% to 5.5% notes – due 2014 – 2016 | 657 | 701 | ||||||||
4.75% notes – due 2022 | 899 | 899 | ||||||||
Floating rate notes – due 2013 – 2017 (a) | 269 | 314 | ||||||||
Environmental and industrial development | 1,487 | 1,812 | ||||||||
bonds – due 2013 – 2035 (b) | ||||||||||
Short-term notes (c) | 386 | 255 | ||||||||
Other (d) | 304 | 331 | ||||||||
Total (e) | 9,488 | 10,140 | ||||||||
Less: current maturities | 661 | 444 | ||||||||
Long-term debt | $ | 8,827 | $ | 9,696 | ||||||
(a) | The weighted average interest rate on these notes was 2.6% in 2013 and 2.6% in 2012. | |||||||||
(b) | The weighted average interest rate on these bonds was 5.5% in 2013 and 5.6% in 2012. | |||||||||
(c) | The weighted average interest rate was 2.8% in 2013 and 2.2% in 2012. Includes $93 million at December 31, 2013 and $29 million at December 31, 2012 related to non-U.S. denominated borrowings with a weighted average interest rate of 5.8% in 2013 and 5.6% in 2012. | |||||||||
(d) | Includes $41 million at December 31, 2013 and $61 million at December 31, 2012, related to the unamortized gain on interest rate swap unwinds (see Note 14). | |||||||||
(e) | The fair market value was approximately $10.7 billion at December 31, 2013 and $12.3 billion at December 31, 2012. |
Derivatives_and_Hedging_Activi1
Derivatives and Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Notional Amounts of Financial Instruments [Table Text Block] | ' | ||||||||||||||||||||||||
The notional amounts of qualifying and non-qualifying instruments used in hedging transactions were as follows: | |||||||||||||||||||||||||
In millions | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships: | |||||||||||||||||||||||||
Foreign exchange contracts (Sell / Buy; denominated in sell notional): (a) | |||||||||||||||||||||||||
Brazilian real / U.S. dollar - Forward | 502 | — | |||||||||||||||||||||||
British pounds / Brazilian real - Forward | 17 | 13 | |||||||||||||||||||||||
European euro / Brazilian real - Forward | 27 | 13 | |||||||||||||||||||||||
European euro / Polish zloty - Forward | 252 | 149 | |||||||||||||||||||||||
U.S. dollar / Brazilian real - Forward | 290 | 238 | |||||||||||||||||||||||
U.S. dollar / Brazilian real - Zero-cost collar | 18 | 18 | |||||||||||||||||||||||
Derivatives in Fair Value Hedging Relationships: | |||||||||||||||||||||||||
Interest rate contracts (in USD) | 175 | — | |||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | |||||||||||||||||||||||||
Embedded derivative (in USD) | — | 150 | |||||||||||||||||||||||
Foreign exchange contracts (Sell / Buy; denominated in sell notional): | |||||||||||||||||||||||||
Indian rupee / U.S. dollar | 157 | 140 | |||||||||||||||||||||||
Thai baht / U.S. dollar | — | 261 | |||||||||||||||||||||||
U.S. dollar / Turkish lira | — | 56 | |||||||||||||||||||||||
Interest rate contracts (in USD) | — | 150 | (b) | ||||||||||||||||||||||
(a) | These contracts had maturities of three years or less as of December 31, 2013. | ||||||||||||||||||||||||
(b) | Includes $150 million floating-to-fixed interest rate swap notional to offset the embedded derivative. | ||||||||||||||||||||||||
Gains Losses Recognized In Accumulated Other Comprehensive Income AOCI Net of Tax Related to Derivative Instruments [Table Text Block] | ' | ||||||||||||||||||||||||
The following table shows gains or losses recognized in AOCI, net of tax, related to derivative instruments: | |||||||||||||||||||||||||
Gain (Loss) | |||||||||||||||||||||||||
Recognized in AOCI on Derivatives | |||||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Foreign exchange contracts | $ | — | $ | 16 | $ | (39 | ) | ||||||||||||||||||
Fuel oil contracts | — | — | 2 | ||||||||||||||||||||||
Natural gas contracts | — | (1 | ) | (6 | ) | ||||||||||||||||||||
Total | $ | — | $ | 15 | $ | (43 | ) | ||||||||||||||||||
Gains And Losses Recognized in Consolidated Statement of Operations On Qualifying And Non-Qualiifying Financial Instruments [Table Text Block] | ' | ||||||||||||||||||||||||
Gain (Loss) | Location of Gain | ||||||||||||||||||||||||
Reclassified from | (Loss) | ||||||||||||||||||||||||
AOCI | Reclassified | ||||||||||||||||||||||||
into Income | from AOCI | ||||||||||||||||||||||||
(Effective Portion) | into Income | ||||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships: | |||||||||||||||||||||||||
Foreign exchange contracts | $ | 7 | $ | (15 | ) | $ | 8 | Cost of products sold | |||||||||||||||||
Fuel oil contracts | — | — | 4 | Cost of products sold | |||||||||||||||||||||
Natural gas contracts | — | (7 | ) | (20 | ) | Cost of products sold | |||||||||||||||||||
Total | $ | 7 | $ | (22 | ) | $ | (8 | ) | |||||||||||||||||
Gain (Loss) | Location of Gain (Loss) | ||||||||||||||||||||||||
Recognized | in Consolidated Statement of | ||||||||||||||||||||||||
in Income | Operations | ||||||||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Derivatives in Fair Value Hedging Relationships: | |||||||||||||||||||||||||
Interest rate contracts | $ | (1 | ) | $ | — | $ | (10 | ) | Interest expense, net | ||||||||||||||||
Debt | 1 | — | 10 | Interest expense, net | |||||||||||||||||||||
Total | $ | — | $ | — | $ | — | |||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | |||||||||||||||||||||||||
Electricity Contracts | $ | 4 | $ | (4 | ) | $ | — | Cost of products sold | |||||||||||||||||
Embedded derivatives | (1 | ) | (4 | ) | (3 | ) | Interest expense, net | ||||||||||||||||||
Foreign exchange contracts | (5 | ) | — | (14 | ) | (a) | Cost of products sold | ||||||||||||||||||
Interest rate contracts | 21 | 22 | 3 | Interest expense, net | |||||||||||||||||||||
Total | $ | 19 | $ | 14 | $ | (14 | ) | ||||||||||||||||||
(a) Premium costs of $5 million in connection with the acquisition of APPM are included in Restructuring and other charges in the accompanying consolidated statement of operations. | |||||||||||||||||||||||||
Schedule of Interest Rate Derivative Activity [Table Text Block] | ' | ||||||||||||||||||||||||
The following activity is related to fully effective interest rate swaps designated as fair value hedges: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
In millions | Issued | Terminated | Undesignated | Issued | Terminated | Undesignated | |||||||||||||||||||
Fourth Quarter | $ | 175 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Total | $ | 175 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Impact Of Derivative Instruments In Consolidated Balance Sheet [Table Text Block] | ' | ||||||||||||||||||||||||
The following table provides a summary of the impact of our derivative instruments in the consolidated balance sheet: | |||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||
Level 2 – Significant Other Observable Inputs | |||||||||||||||||||||||||
Assets | Liabilities | ||||||||||||||||||||||||
In millions | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||||
Foreign exchange contracts – cash flow | $ | 37 | (a) | $ | 7 | (c) | $ | 33 | (d) | $ | 21 | (f) | |||||||||||||
Interest rate contracts - fair value | — | — | 1 | (e) | — | ||||||||||||||||||||
Total derivatives designated as hedging instruments | $ | 37 | $ | 7 | $ | 34 | $ | 21 | |||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||
Electricity contract | $ | 2 | (b) | $ | — | $ | — | $ | 1 | (g) | |||||||||||||||
Embedded derivatives | — | 1 | (b) | — | — | ||||||||||||||||||||
Foreign exchange contracts | — | 1 | (b) | — | — | ||||||||||||||||||||
Interest rate contracts | — | — | — | 1 | (g) | ||||||||||||||||||||
Total derivatives not designated as hedging instruments | $ | 2 | $ | 2 | $ | — | $ | 2 | |||||||||||||||||
Total derivatives | $ | 39 | $ | 9 | $ | 34 | $ | 23 | |||||||||||||||||
(a) | Includes $23 million recorded in Other current assets and $14 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(b) | Included in Other current assets in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(c) | Includes $3 million recorded in Other current assets and $4 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(d) | Includes $24 million recorded in Other accrued liabilities and $9 million recorded in Other liabilities in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(e) | Included in Other liabilities in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(f) | Includes $20 million recorded in Other accrued liabilities and $1 million recorded in Other liabilities in the accompanying consolidated balance sheet. | ||||||||||||||||||||||||
(g) | Included in Other accrued liabilities in the accompanying consolidated balance sheet. |
Capital_Stock_Tables
Capital Stock (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Class of Stock Disclosures [Abstract] | ' | ||||
Rollforward Of Common Stock Activity [Table Text Block] | ' | ||||
The following is a rollforward of shares of common stock for the three years ended December 31, 2013, 2012 and 2011: | |||||
Common Stock | |||||
In thousands | Issued | Treasury | |||
Balance at January 1, 2011 | 438,871 | 1,234 | |||
Issuance of stock for various plans, net | 1 | (326 | ) | ||
Repurchase of stock | — | 1,013 | |||
Balance at December 31, 2011 | 438,872 | 1,921 | |||
Issuance of stock for various plans, net | 1,022 | (2,994 | ) | ||
Repurchase of stock | — | 1,086 | |||
Balance at December 31, 2012 | 439,894 | 13 | |||
Issuance of stock for various plans, net | 7,328 | (533 | ) | ||
Repurchase of stock | — | 11,388 | |||
Balance at December 31, 2013 | 447,222 | 10,868 | |||
Retirement_Plans_Tables
Retirement Plans (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
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: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
In millions | U.S. | Non- | U.S. | Non- | U.S. | Non- | ||||||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | |||||||||||||||||
Plans | Plans | Plans | ||||||||||||||||||||
Service cost | $ | 188 | $ | 4 | $ | 152 | $ | 3 | $ | 121 | $ | 2 | ||||||||||
Interest cost | 576 | 11 | 604 | 12 | 544 | 12 | ||||||||||||||||
Expected return on plan assets | (738 | ) | (11 | ) | (753 | ) | (12 | ) | (713 | ) | (12 | ) | ||||||||||
Actuarial loss / (gain) | 485 | 1 | 307 | — | 212 | — | ||||||||||||||||
Amortization of prior service cost | 34 | — | 32 | — | 31 | — | ||||||||||||||||
Settlement gain | — | — | — | — | — | (1 | ) | |||||||||||||||
Net periodic pension expense | $ | 545 | $ | 5 | $ | 342 | $ | 3 | $ | 195 | $ | 1 | ||||||||||
Pension Allocations By Type Of Fund And Target Allocations [Table Text Block] | ' | |||||||||||||||||||||
International Paper’s U.S. pension allocations by type of fund at December 31, and target allocations were as follows: | ||||||||||||||||||||||
Asset Class | 2013 | 2012 | Target | |||||||||||||||||||
Allocations | ||||||||||||||||||||||
Equity accounts | 49 | % | 41 | % | 42% - 53% | |||||||||||||||||
Fixed income accounts | 32 | % | 38 | % | 30% - 40% | |||||||||||||||||
Real estate accounts | 10 | % | 10 | % | 6% - 12% | |||||||||||||||||
Other | 9 | % | 11 | % | 3% - 15% | |||||||||||||||||
Total | 100 | % | 100 | % | ||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Table Text Block] | ' | |||||||||||||||||||||
he fair value measurements using significant unobservable inputs (Level 3) at December 31, 2013 were as follows: | ||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||
In millions | Equities- | Other | Hedge | Private | Real | Derivatives | Total | |||||||||||||||
Domestic | Fixed | Funds | Equity | Estate | ||||||||||||||||||
Income | ||||||||||||||||||||||
Beginning balance at December 31, 2012 | $ | 3 | $ | 8 | $ | 492 | $ | 503 | $ | 1,037 | $ | 354 | $ | 2,397 | ||||||||
Actual return on plan assets: | ||||||||||||||||||||||
Relating to assets still held at the reporting date | (1 | ) | 1 | 11 | 41 | 62 | (20 | ) | 94 | |||||||||||||
Relating to assets sold during the period | 2 | — | 47 | 1 | 32 | 137 | 219 | |||||||||||||||
Purchases, sales and settlements | (3 | ) | — | 281 | (61 | ) | (93 | ) | (158 | ) | (34 | ) | ||||||||||
Transfers in and/or out of Level 3 | — | 1 | — | — | — | — | 1 | |||||||||||||||
Ending balance at December 31, 2013 | $ | 1 | $ | 10 | $ | 831 | $ | 484 | $ | 1,038 | $ | 313 | $ | 2,677 | ||||||||
Retirement Plans [Member] | ' | |||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | |||||||||||||||||||||
Schedule Of Net Funded Status [Table Text Block] | ' | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
In millions | U.S. | Non- | U.S. | Non- | ||||||||||||||||||
Plans | U.S. | Plans | U.S. | |||||||||||||||||||
Plans | Plans | |||||||||||||||||||||
Change in projected benefit obligation: | ||||||||||||||||||||||
Benefit obligation, January 1 | $ | 14,201 | $ | 223 | $ | 10,555 | $ | 183 | ||||||||||||||
Service cost | 188 | 4 | 152 | 3 | ||||||||||||||||||
Interest cost | 576 | 11 | 604 | 12 | ||||||||||||||||||
Curtailments | (14 | ) | — | — | — | |||||||||||||||||
Settlements | (5 | ) | (4 | ) | — | (3 | ) | |||||||||||||||
Actuarial loss (gain) | (1,309 | ) | — | 1,923 | 30 | |||||||||||||||||
Acquisitions | — | 3 | 1,749 | 3 | ||||||||||||||||||
Plan amendments | — | — | 20 | — | ||||||||||||||||||
Special termination benefits | 8 | — | — | — | ||||||||||||||||||
Benefits paid | (742 | ) | (8 | ) | (802 | ) | (8 | ) | ||||||||||||||
Effect of foreign currency exchange rate movements | — | (1 | ) | — | 3 | |||||||||||||||||
Benefit obligation, December 31 | $ | 12,903 | $ | 228 | $ | 14,201 | $ | 223 | ||||||||||||||
Change in plan assets: | ||||||||||||||||||||||
Fair value of plan assets | $ | 10,111 | $ | 171 | $ | 8,185 | $ | 155 | ||||||||||||||
Actual return on plan assets | 1,283 | 15 | 1,183 | 18 | ||||||||||||||||||
Company contributions | 59 | 8 | 139 | 8 | ||||||||||||||||||
Benefits paid | (742 | ) | (8 | ) | (802 | ) | (8 | ) | ||||||||||||||
Settlements | (5 | ) | (4 | ) | — | (3 | ) | |||||||||||||||
Acquisitions | — | — | 1,406 | — | ||||||||||||||||||
Effect of foreign currency exchange rate movements | — | (1 | ) | — | 1 | |||||||||||||||||
Fair value of plan assets, December 31 | $ | 10,706 | $ | 181 | $ | 10,111 | $ | 171 | ||||||||||||||
Funded status, December 31 | $ | (2,197 | ) | $ | (47 | ) | $ | (4,090 | ) | $ | (52 | ) | ||||||||||
Amounts recognized in the consolidated balance sheet: | ||||||||||||||||||||||
Non-current asset | $ | — | $ | 9 | $ | — | $ | 4 | ||||||||||||||
Current liability | (46 | ) | (2 | ) | (32 | ) | (2 | ) | ||||||||||||||
Non-current liability | (2,151 | ) | (54 | ) | (4,058 | ) | (54 | ) | ||||||||||||||
$ | (2,197 | ) | $ | (47 | ) | $ | (4,090 | ) | $ | (52 | ) | |||||||||||
Schedule Of Amounts In Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||||||||
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): | ||||||||||||||||||||||
Prior service cost | $ | 107 | $ | — | $ | 144 | $ | — | ||||||||||||||
Net actuarial loss | 3,285 | 29 | 5,640 | 34 | ||||||||||||||||||
$ | 3,392 | $ | 29 | $ | 5,784 | $ | 34 | |||||||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value 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, 2013 and 2012: | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
In millions | U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||||||
Plans | Plans | Plans | Plans | |||||||||||||||||||
Projected benefit obligation | $ | 12,903 | $ | 181 | $ | 14,201 | $ | 200 | ||||||||||||||
Accumulated benefit obligation | 12,560 | 168 | 13,772 | 188 | ||||||||||||||||||
Fair value of plan assets | 10,706 | 125 | 10,111 | 143 | ||||||||||||||||||
Pension Benefit Adjustments Recognized In Other Comprehensive (Loss) Income [Table Text Block] | ' | |||||||||||||||||||||
The components of the $2.4 billion and $5 million decrease related to U.S. plans and non-U.S. plans, respectively, in the amounts recognized in OCI during 2013 consisted of: | ||||||||||||||||||||||
In millions | U.S. | Non- | ||||||||||||||||||||
Plans | U.S. | |||||||||||||||||||||
Plans | ||||||||||||||||||||||
Current year actuarial (gain) loss | $ | (1,854 | ) | $ | (4 | ) | ||||||||||||||||
Amortization of actuarial loss | (485 | ) | (1 | ) | ||||||||||||||||||
Current year prior service cost | — | — | ||||||||||||||||||||
Amortization of prior service cost | (34 | ) | — | |||||||||||||||||||
Curtailments | (19 | ) | — | |||||||||||||||||||
$ | (2,392 | ) | $ | (5 | ) | |||||||||||||||||
Schedule of Assumptions Used [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: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
U.S. | Non- | U.S. | Non- | U.S. | Non- | |||||||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | |||||||||||||||||
Plans | Plans | Plans | ||||||||||||||||||||
Actuarial assumptions used to determine benefit obligations as of December 31: | ||||||||||||||||||||||
Discount rate | 4.9 | % | 5.07 | % | 4.1 | % | 4.96 | % | 5.1 | % | 5.98 | % | ||||||||||
Rate of compensation increase | 3.75 | % | 4.13 | % | 3.75 | % | 3.17 | % | 3.75 | % | 3.12 | % | ||||||||||
Actuarial assumptions used to determine net periodic pension cost for years ended December 31: | ||||||||||||||||||||||
Discount rate | 4.1 | % | 4.96 | % | 5.1 | % | 5.98 | % | 5.6 | % | 6.01 | % | ||||||||||
Expected long-term rate of return on plan assets (a) | 8 | % | 7.04 | % | 8 | % | 7.62 | % | 8.25 | % | 7.79 | % | ||||||||||
Rate of compensation increase | 3.75 | % | 3.17 | % | 3.75 | % | 3.12 | % | 3.75 | % | 3.07 | % | ||||||||||
(a) | Represents the expected rate of return for International Paper's qualified pension plan. The weighted average rate for the Temple-Inland Retirement Plan was | |||||||||||||||||||||
Effect Of A 25 Basis Point Decrease On Net Pension Expense [Table Text Block] | ' | |||||||||||||||||||||
The following illustrates the effect on pension expense for 2014 of a 25 basis point decrease in the above assumptions: | ||||||||||||||||||||||
In millions | 2014 | |||||||||||||||||||||
Expense/(Income): | ||||||||||||||||||||||
Discount rate | $ | 35 | ||||||||||||||||||||
Expected long-term rate of return on plan assets | 25 | |||||||||||||||||||||
Rate of compensation increase | (5 | ) | ||||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||
Fair Value Measurement at December 31, 2013 | ||||||||||||||||||||||
Asset Class | Total | Quoted | Significant | Significant | ||||||||||||||||||
Prices | Observable | Unobservable | ||||||||||||||||||||
in | Inputs | Inputs | ||||||||||||||||||||
Active | (Level 2) | (Level 3) | ||||||||||||||||||||
Markets | ||||||||||||||||||||||
For | ||||||||||||||||||||||
Identical | ||||||||||||||||||||||
Assets | ||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||
In millions | ||||||||||||||||||||||
Equities – domestic | $ | 2,466 | $ | 1,175 | $ | 1,290 | $ | 1 | ||||||||||||||
Equities – international | 2,313 | 1,470 | 843 | — | ||||||||||||||||||
Corporate bonds | 1,248 | — | 1,248 | — | ||||||||||||||||||
Government securities | 1,097 | — | 1,097 | — | ||||||||||||||||||
Mortgage backed securities | 143 | — | 143 | — | ||||||||||||||||||
Other fixed income | 74 | (1 | ) | 65 | 10 | |||||||||||||||||
Commodities | 193 | — | 193 | — | ||||||||||||||||||
Hedge funds | 831 | — | — | 831 | ||||||||||||||||||
Private equity | 484 | — | — | 484 | ||||||||||||||||||
Real estate | 1,038 | — | — | 1,038 | ||||||||||||||||||
Derivatives | 313 | — | — | 313 | ||||||||||||||||||
Cash and cash equivalents | 506 | (10 | ) | 516 | — | |||||||||||||||||
Total Investments | $ | 10,706 | $ | 2,634 | $ | 5,395 | $ | 2,677 | ||||||||||||||
Fair Value Measurement at December 31, 2012 | ||||||||||||||||||||||
Asset Class | Total | Quoted | Significant | Significant | ||||||||||||||||||
Prices in | Observable | Unobservable | ||||||||||||||||||||
Active | Inputs | Inputs | ||||||||||||||||||||
Markets | (Level 2) | (Level 3) | ||||||||||||||||||||
For | ||||||||||||||||||||||
Identical | ||||||||||||||||||||||
Assets | ||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||
In millions | ||||||||||||||||||||||
Equities – domestic | $ | 2,171 | $ | 1,241 | $ | 927 | $ | 3 | ||||||||||||||
Equities – international | 1,513 | 1,145 | 368 | — | ||||||||||||||||||
Common collective funds – fixed income | 180 | — | 180 | — | ||||||||||||||||||
Corporate bonds | 1,539 | — | 1,539 | — | ||||||||||||||||||
Government securities | 1,593 | — | 1,593 | — | ||||||||||||||||||
Mortgage backed securities | 127 | — | 127 | — | ||||||||||||||||||
Other fixed income | 75 | — | 67 | 8 | ||||||||||||||||||
Commodities | 216 | — | 216 | — | ||||||||||||||||||
Hedge funds | 492 | — | — | 492 | ||||||||||||||||||
Private equity | 503 | — | — | 503 | ||||||||||||||||||
Real estate | 1,037 | — | — | 1,037 | ||||||||||||||||||
Derivatives | 354 | — | — | 354 | ||||||||||||||||||
Cash and cash equivalents | 311 | (15 | ) | 326 | — | |||||||||||||||||
Total Investments | $ | 10,111 | $ | 2,371 | $ | 5,343 | $ | 2,397 | ||||||||||||||
Projected Future Pension Benefit Payments, Excluding Any Termination Benefits [Table Text Block] | ' | |||||||||||||||||||||
At December 31, 2013, projected future pension benefit payments, excluding any termination benefits, were as follows: | ||||||||||||||||||||||
In millions | ||||||||||||||||||||||
2014 | $ | 767 | ||||||||||||||||||||
2015 | 759 | |||||||||||||||||||||
2016 | 767 | |||||||||||||||||||||
2017 | 779 | |||||||||||||||||||||
2018 | 791 | |||||||||||||||||||||
2019 – 2023 | 4,165 | |||||||||||||||||||||
Postretirement_Benefits_Tables
Postretirement Benefits (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
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: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
In millions | U.S. | Non- | U.S. | Non- | U.S. | Non- | |||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | ||||||||||||||
Plans | Plans | Plans | |||||||||||||||||
Service cost | $ | 188 | $ | 4 | $ | 152 | $ | 3 | $ | 121 | $ | 2 | |||||||
Interest cost | 576 | 11 | 604 | 12 | 544 | 12 | |||||||||||||
Expected return on plan assets | (738 | ) | (11 | ) | (753 | ) | (12 | ) | (713 | ) | (12 | ) | |||||||
Actuarial loss / (gain) | 485 | 1 | 307 | — | 212 | — | |||||||||||||
Amortization of prior service cost | 34 | — | 32 | — | 31 | — | |||||||||||||
Settlement gain | — | — | — | — | — | (1 | ) | ||||||||||||
Net periodic pension expense | $ | 545 | $ | 5 | $ | 342 | $ | 3 | $ | 195 | $ | 1 | |||||||
Postretirement Benefits [Member] | ' | ||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||||
Components Of Postretirement Benefit Expense [Table Text Block] | ' | ||||||||||||||||||
The components of U.S. postretirement benefit expense in 2013, 2012 and 2011 were as follows: | |||||||||||||||||||
In millions | 2013 | 2012 | 2011 | ||||||||||||||||
U.S. | Non- | U.S. | Non- | U.S. | Non- | ||||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | ||||||||||||||
Plans | Plans | Plans | |||||||||||||||||
Service cost | $ | 2 | $ | 2 | $ | 3 | $ | — | $ | 2 | $ | — | |||||||
Interest cost | 14 | 5 | 20 | 1 | 21 | 2 | |||||||||||||
Actuarial loss | 7 | — | 10 | — | 9 | — | |||||||||||||
Amortization of prior service credits | (24 | ) | — | (30 | ) | — | (25 | ) | — | ||||||||||
Curtailment gain | — | — | (7 | ) | — | — | — | ||||||||||||
Net postretirement (benefit) expense (a) | $ | (1 | ) | $ | 7 | $ | (4 | ) | $ | 1 | $ | 7 | $ | 2 | |||||
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 plan is only funded in an amount equal to benefits paid. The following table presents the changes in benefit obligation and plan assets for 2013 and 2012: | |||||||||||||||||||
In millions | 2013 | 2012 | |||||||||||||||||
U.S. | Non- | U.S. | Non- | ||||||||||||||||
Plans | U.S. | Plans | U.S. | ||||||||||||||||
Plans | Plans | ||||||||||||||||||
Change in projected benefit obligation: | |||||||||||||||||||
Benefit obligation, January 1 | $ | 449 | $ | 22 | $ | 425 | $ | 23 | |||||||||||
Service cost | 2 | 2 | 3 | — | |||||||||||||||
Interest cost | 14 | 5 | 20 | 1 | |||||||||||||||
Participants’ contributions | 19 | — | 34 | 1 | |||||||||||||||
Actuarial (gain) loss | (80 | ) | 12 | 44 | 10 | ||||||||||||||
Acquisitions | — | 38 | 108 | — | |||||||||||||||
Plan amendments | — | — | (63 | ) | — | ||||||||||||||
Benefits paid | (82 | ) | (1 | ) | (107 | ) | (2 | ) | |||||||||||
Less: Federal subsidy | 2 | — | 7 | — | |||||||||||||||
Restructuring | — | — | (17 | ) | — | ||||||||||||||
Curtailment | (2 | ) | — | (5 | ) | (11 | ) | ||||||||||||
Currency Impact | — | (6 | ) | — | — | ||||||||||||||
Benefit obligation, December 31 | $ | 322 | $ | 72 | $ | 449 | $ | 22 | |||||||||||
Change in plan assets: | |||||||||||||||||||
Fair value of plan assets, January 1 | $ | — | $ | — | $ | — | $ | — | |||||||||||
Company contributions | 63 | 1 | 73 | 1 | |||||||||||||||
Participants’ contributions | 19 | — | 34 | 1 | |||||||||||||||
Benefits paid | (82 | ) | (1 | ) | (107 | ) | (2 | ) | |||||||||||
Fair value of plan assets, December 31 | $ | — | $ | — | $ | — | $ | — | |||||||||||
Funded status, December 31 | $ | (322 | ) | $ | (72 | ) | $ | (449 | ) | $ | (22 | ) | |||||||
Amounts recognized in the consolidated balance sheet under ASC 715: | |||||||||||||||||||
Current liability | $ | (39 | ) | $ | (2 | ) | $ | (59 | ) | $ | (2 | ) | |||||||
Non-current liability | (283 | ) | (70 | ) | (390 | ) | (20 | ) | |||||||||||
$ | (322 | ) | $ | (72 | ) | $ | (449 | ) | $ | (22 | ) | ||||||||
Amounts recognized in accumulated other comprehensive income under ASC 715 (pre-tax): | |||||||||||||||||||
Net actuarial loss (gain) | $ | 31 | $ | 11 | $ | 115 | $ | (1 | ) | ||||||||||
Prior service credit | (35 | ) | — | (65 | ) | — | |||||||||||||
$ | (4 | ) | $ | 11 | $ | 50 | $ | (1 | ) | ||||||||||
Postretirement Benefit Adjustments Recognized In Other Comprehensive (Loss) Income [Table Text Block] | ' | ||||||||||||||||||
The components of the $54 million decrease and $12 million increase in the amounts recognized in OCI during 2013 for U.S. and non-U.S. plans, respectively, consisted of: | |||||||||||||||||||
In millions | U.S. | Non- | |||||||||||||||||
Plans | U.S. | ||||||||||||||||||
Plans | |||||||||||||||||||
Curtailment | $ | 5 | $ | — | |||||||||||||||
Current year actuarial gain | (76 | ) | — | ||||||||||||||||
Amortization of actuarial (loss) gain | (7 | ) | 12 | ||||||||||||||||
Amortization of prior service credit | 24 | — | |||||||||||||||||
$ | (54 | ) | $ | 12 | |||||||||||||||
Estimated Total Future Postretirement Benefit Payments, Net Of Participant Contributions And Estimated Future Medicare Part D Subsidy Receipts [Table Text Block] | ' | ||||||||||||||||||
At December 31, 2013, estimated total future postretirement benefit payments, net of participant contributions and estimated future Medicare Part D subsidy receipts, were as follows: | |||||||||||||||||||
In millions | Benefit | Subsidy | Benefit | ||||||||||||||||
Payments | Receipts | Payments | |||||||||||||||||
U.S. | U.S. | Non- | |||||||||||||||||
Plans | Plans | U.S. | |||||||||||||||||
Plans | |||||||||||||||||||
2014 | $ | 42 | $ | 3 | $ | 2 | |||||||||||||
2015 | 35 | 3 | 3 | ||||||||||||||||
2016 | 32 | 3 | 3 | ||||||||||||||||
2017 | 30 | 3 | 4 | ||||||||||||||||
2018 | 28 | 3 | 4 | ||||||||||||||||
2019 – 2023 | 120 | 11 | 31 | ||||||||||||||||
Net Cost [Member] | Postretirement Benefits [Member] | ' | ||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||||
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, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
U.S. | Non- | U.S. | Non- | U.S. | Non- | ||||||||||||||
Plans | U.S. | Plans | U.S. | Plans | U.S. | ||||||||||||||
Plans | Plans | Plans | |||||||||||||||||
Discount rate | 3.7 | % | 8.43 | % | 4.4 | % | (a) | 7.73 | % | 5.3 | % | 7.72 | % | ||||||
(a) | Represents the weighted average rate for the IP plan for 2012 due to the remeasurement. The weighted average rate used for Temple-Inland in 2012 was 4.19%. | ||||||||||||||||||
Benefit Obligation [Member] | Postretirement Benefits [Member] | ' | ||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||||
Discount Rates Used To Determine Net Cost [Table Text Block] | ' | ||||||||||||||||||
The weighted average assumptions used to determine the benefit obligation at December 31, 2013 and 2012 were as follows: | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
U.S. | Non- | U.S. | Non- | ||||||||||||||||
Plans | U.S. | Plans | U.S. | ||||||||||||||||
Plans | Plans | ||||||||||||||||||
Discount rate | 4.5 | % | 11.94 | % | 3.7 | % | 8.43 | % | |||||||||||
Health care cost trend rate assumed for next year | 7 | % | 11.43 | % | 7.5 | % | 7.18 | % | |||||||||||
Rate that the cost trend rate gradually declines to | 5 | % | 6.12 | % | 5 | % | 7.18 | % | |||||||||||
Year that the rate reaches the rate it is assumed to remain | 2017 | 2024 | 2017 | 2013 | |||||||||||||||
Incentive_Plans_Tables
Incentive Plans (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | ' | |||||||||
Summary Of Stock Option Program [Table Text Block] | ' | |||||||||
The following summarizes the status of the Stock Option Program and the changes during the three years ending December 31, 2013: | ||||||||||
Options | Weighted | Weighted | Aggregate | |||||||
(a,b) | Average | Average | Intrinsic | |||||||
Exercise | Remaining | Value | ||||||||
Price | Life | (thousands) | ||||||||
(years) | ||||||||||
Outstanding at December 31, 2010 | 18,245,253 | $37.73 | 2.3 | $— | ||||||
Exercised | (1,850 | ) | 32.54 | |||||||
Forfeited | (21,070 | ) | 35.21 | |||||||
Expired | (2,665,547 | ) | 35.45 | |||||||
Outstanding at December 31, 2011 | 15,556,786 | 38.13 | 1.55 | — | ||||||
Granted | 2,513 | 35.94 | ||||||||
Exercised | (3,200,642 | ) | 33.62 | |||||||
Expired | (3,222,597 | ) | 40.71 | |||||||
Outstanding at December 31, 2012 | 9,136,060 | 38.79 | 1.15 | 1,077 | ||||||
Granted | 4,744 | 48.11 | ||||||||
Exercised | (7,317,825 | ) | 38.57 | |||||||
Expired | (70,190 | ) | 37.15 | |||||||
Outstanding at December 31, 2013 | 1,752,789 | $39.80 | 0.67 | $16,175 | ||||||
(a) | The table does not include Continuity Award tandem stock options described below. No fair market value is assigned to these options under ASC 718. The tandem restricted shares accompanying these options are expensed over their vesting period. | |||||||||
(b) | The table includes options outstanding under an acquired company plan under which options may no longer be granted. | |||||||||
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 PSP plan: | ||||||||||
Twelve Months Ended December 31, 2013 | ||||||||||
Expected volatility | 25.30%-62.58% | |||||||||
Risk-free interest rate | 0.13% - 0.99% | |||||||||
Summary Of Performance Restricted Share Activity [Table Text Block] | ' | |||||||||
The following summarizes PSP activity for the three years ending December 31, 2013: | ||||||||||
Share/Units | Weighted | |||||||||
Average | ||||||||||
Grant Date | ||||||||||
Fair Value | ||||||||||
Outstanding at December 31, 2010 | 6,812,594 | $23.31 | ||||||||
Granted | 4,314,376 | 28.04 | ||||||||
Shares issued | (2,565,971 | ) | 32.43 | |||||||
Forfeited | (500,940 | ) | 25.07 | |||||||
Outstanding at December 31, 2011 | 8,060,059 | 22.83 | ||||||||
Granted | 3,641,911 | 31.57 | ||||||||
Shares issued | (2,871,367 | ) | 16.83 | |||||||
Forfeited | (169,748 | ) | 28.89 | |||||||
Outstanding at December 31, 2012 | 8,660,855 | 28.37 | ||||||||
Granted | 3,148,445 | 40.76 | ||||||||
Shares issued (a) | (3,262,760 | ) | 32.48 | |||||||
Forfeited | (429,051 | ) | 34.58 | |||||||
Outstanding at December 31, 2013 | 8,117,489 | $31.20 | ||||||||
(a) | Includes 356,542 units related to retirements or terminations that are held for payout until the end of the performance period. | |||||||||
Summary Of Activity Of Executive Continuity And Restricted Stock Award Program [Table Text Block] | ' | |||||||||
The following summarizes the activity of the Executive Continuity Award program and RSA program for the three years ending December 31, 2013: | ||||||||||
Shares | Weighted | |||||||||
Average | ||||||||||
Grant Date | ||||||||||
Fair Value | ||||||||||
Outstanding at December 31, 2010 | 167,500 | $26.95 | ||||||||
Granted | 21,500 | 27.01 | ||||||||
Shares issued | (55,083 | ) | 24.84 | |||||||
Forfeited | (5,000 | ) | 26.78 | |||||||
Outstanding at December 31, 2011 | 128,917 | 27.86 | ||||||||
Granted | 88,715 | 31.91 | ||||||||
Shares issued | (61,083 | ) | 27.13 | |||||||
Forfeited | (5,000 | ) | 28.91 | |||||||
Outstanding at December 31, 2012 | 151,549 | 30.49 | ||||||||
Granted | 67,100 | 44.41 | ||||||||
Shares issued | (88,775 | ) | 32.3 | |||||||
Forfeited | (17,500 | ) | 37.75 | |||||||
Outstanding at December 31, 2013 | 112,374 | $36.24 | ||||||||
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 millions | 2013 | 2012 | 2011 | |||||||
Total stock-based compensation expense (included in selling and administrative expense) | $ | 137 | $ | 116 | $ | 84 | ||||
Income tax benefits related to stock-based compensation | 74 | 48 | 34 | |||||||
Financial_Information_By_Indus1
Financial Information By Industry Segment And Geographic Area (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||
INFORMATION BY INDUSTRY SEGMENT | ||||||||||||
Net Sales | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 14,810 | $ | 13,280 | $ | 10,430 | ||||||
Printing Papers | 6,205 | 6,230 | 6,215 | |||||||||
Consumer Packaging | 3,435 | 3,170 | 3,710 | |||||||||
Distribution | 5,650 | 6,040 | 6,630 | |||||||||
Corporate and Intersegment Sales | (1,020 | ) | (887 | ) | (951 | ) | ||||||
Net Sales | $ | 29,080 | $ | 27,833 | $ | 26,034 | ||||||
Operating Profit | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 1,801 | $ | 1,066 | $ | 1,147 | ||||||
Printing Papers | 271 | 599 | 872 | |||||||||
Consumer Packaging | 161 | 268 | 163 | |||||||||
Distribution | (389 | ) | 22 | 34 | ||||||||
Operating Profit | 1,844 | 1,955 | 2,216 | |||||||||
Interest expense, net | (612 | ) | (672 | ) | (541 | ) | ||||||
Noncontrolling interests / equity earnings adjustment (a) | 1 | — | 10 | |||||||||
Corporate items, net | (29 | ) | (51 | ) | (102 | ) | ||||||
Restructuring and other charges | (32 | ) | (51 | ) | (82 | ) | ||||||
Net gains (losses) on sales and impairments of businesses | — | 2 | — | |||||||||
Non-operating pension expense | (323 | ) | (159 | ) | (43 | ) | ||||||
Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings | $ | 849 | $ | 1,024 | $ | 1,458 | ||||||
Restructuring and Other Charges | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | (2 | ) | $ | 14 | $ | 20 | |||||
Printing Papers | 118 | — | (24 | ) | ||||||||
Consumer Packaging | 45 | — | 2 | |||||||||
Distribution | 32 | 44 | 49 | |||||||||
Corporate | 17 | 51 | 55 | |||||||||
Restructuring and Other Charges | $ | 210 | $ | 109 | $ | 102 | ||||||
Assets | ||||||||||||
In millions | 2013 | 2012 | ||||||||||
Industrial Packaging | $ | 15,083 | $ | 13,353 | ||||||||
Printing Papers | 6,574 | 7,198 | ||||||||||
Consumer Packaging | 3,222 | 3,123 | ||||||||||
Distribution | 1,186 | 1,639 | ||||||||||
Corporate and other (b) | 5,463 | 6,840 | ||||||||||
Assets | $ | 31,528 | $ | 32,153 | ||||||||
Capital Spending | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 629 | $ | 565 | $ | 426 | ||||||
Printing Papers | 294 | 449 | 364 | |||||||||
Consumer Packaging | 208 | 296 | 310 | |||||||||
Distribution | 9 | 10 | 8 | |||||||||
Subtotal | 1,140 | 1,320 | 1,108 | |||||||||
Corporate and other | 58 | 63 | 51 | |||||||||
Total from Continuing Operations | $ | 1,198 | $ | 1,383 | $ | 1,159 | ||||||
Depreciation, Amortization and Cost of Timber Harvested (c) | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 805 | $ | 755 | $ | 513 | ||||||
Printing Papers | 446 | 450 | 486 | |||||||||
Consumer Packaging | 206 | 196 | 217 | |||||||||
Distribution | 16 | 13 | 14 | |||||||||
Corporate | 74 | 72 | 102 | |||||||||
Depreciation and Amortization | $ | 1,547 | $ | 1,486 | $ | 1,332 | ||||||
External Sales By Major Product | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
Industrial Packaging | $ | 14,729 | $ | 13,223 | $ | 10,376 | ||||||
Printing Papers | 5,443 | 5,483 | 5,510 | |||||||||
Consumer Packaging | 3,311 | 3,146 | 3,577 | |||||||||
Distribution | 5,597 | 5,981 | 6,571 | |||||||||
Net Sales | $ | 29,080 | $ | 27,833 | $ | 26,034 | ||||||
INFORMATION BY GEOGRAPHIC AREA | ||||||||||||
Net Sales (d) | ||||||||||||
In millions | 2013 | 2012 | 2011 | |||||||||
United States (e) | $ | 21,854 | $ | 21,523 | $ | 19,434 | ||||||
EMEA | 3,284 | 2,935 | 3,183 | |||||||||
Pacific Rim and Asia | 2,112 | 1,816 | 1,807 | |||||||||
Americas, other than U.S. | 1,830 | 1,559 | 1,610 | |||||||||
Net Sales | $ | 29,080 | $ | 27,833 | $ | 26,034 | ||||||
Long-Lived Assets (f) | ||||||||||||
In millions | 2013 | 2012 | ||||||||||
United States | $ | 10,056 | $ | 10,484 | ||||||||
EMEA | 1,126 | 1,022 | ||||||||||
Pacific Rim and Asia | 946 | 982 | ||||||||||
Americas, other than U.S. | 1,772 | 1,773 | ||||||||||
Corporate | 329 | 310 | ||||||||||
Long-Lived Assets | $ | 14,229 | $ | 14,571 | ||||||||
(a) | Operating profits for industry segments include each segment’s percentage share of the profits of subsidiaries included in that segment that are less than wholly-owned. The pre-tax noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings. | |||||||||||
(b) | Includes corporate assets and assets of businesses held for sale. | |||||||||||
(c) | Excludes accelerated depreciation related to closure of mills. | |||||||||||
(d) | Net sales are attributed to countries based on the location of the seller. | |||||||||||
(e) | Export sales to unaffiliated customers were $2.4 billion in 2013, $2.2 billion in 2012 and $2.1 billion in 2011. | |||||||||||
(f) | Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net. |
Interim_Financial_Results_Unau1
Interim Financial Results (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||||||
In millions, except per share amounts and stock prices | 1st | 2nd | 3rd | 4th Quarter | Year | ||||||||||||||||
Quarter | Quarter | Quarter | |||||||||||||||||||
2013 | |||||||||||||||||||||
Net sales | $ | 7,090 | $ | 7,335 | $ | 7,406 | $ | 7,249 | $ | 29,080 | |||||||||||
Gross margin (a) | 1,870 | 1,921 | 2,093 | 1,973 | 7,857 | ||||||||||||||||
Earnings (loss) from continuing operations before income taxes and equity earnings | 230 | (b) | 363 | (d) | 411 | (e) | (155 | ) | (g) | 849 | (b,d,e,g) | ||||||||||
Gain (loss) from discontinued operations | 26 | 24 | (10 | ) | 5 | 45 | |||||||||||||||
Net earnings (loss) attributable to International Paper Company | 318 | (b,c) | 259 | (d) | 382 | (e,f) | 436 | (g,h,i) | 1,395 | (b-i) | |||||||||||
Basic earnings (loss) per share attributable to International Paper Company common shareholders: | |||||||||||||||||||||
Earnings (loss) from continuing operations | $ | 0.66 | (b) | $ | 0.53 | (d) | $ | 0.88 | (e) | $ | 0.98 | (g) | $ | 3.05 | (b,d,e,g) | ||||||
Gain (loss) from discontinued operations | 0.06 | 0.05 | (0.02 | ) | 0.01 | 0.1 | |||||||||||||||
Net earnings (loss) | 0.72 | (b,c) | 0.58 | (d) | 0.86 | (e,f) | 0.99 | (g,h,i) | 3.15 | (b-i) | |||||||||||
Diluted earnings (loss) per share attributable to International Paper Company common shareholders: | |||||||||||||||||||||
Earnings (loss) from continuing operations | 0.65 | (b) | 0.52 | (d) | 0.87 | (e) | 0.97 | (g) | 3.01 | (b,d,e,g) | |||||||||||
Gain (loss) from discontinued operations | 0.06 | 0.05 | (0.02 | ) | 0.01 | 0.1 | |||||||||||||||
Net earnings (loss) | 0.71 | (b,c) | 0.57 | (d) | 0.85 | (e,f) | 0.98 | (g,h, i) | 3.11 | (b-i) | |||||||||||
Dividends per share of common stock | 0.3 | 0.3 | 0.3 | 0.35 | 1.25 | ||||||||||||||||
Common stock prices | |||||||||||||||||||||
High | $ | 47.25 | $ | 49.1 | $ | 50.33 | $ | 49.52 | $ | 50.33 | |||||||||||
Low | 39.47 | 42.36 | 43.95 | 42.92 | 39.47 | ||||||||||||||||
2012 | |||||||||||||||||||||
Net sales | $ | 6,655 | $ | 7,077 | $ | 7,026 | $ | 7,075 | $ | 27,833 | |||||||||||
Gross margin (a) | 1,671 | 1,807 | 1,886 | 1,882 | 7,246 | ||||||||||||||||
Earnings (loss) from continuing operations before income taxes and equity earnings | 213 | (j) | 204 | (k) | 320 | (l) | 287 | (m) | 1,024 | (j-m) | |||||||||||
Gain from discontinued operations | 5 | 16 | 14 | 10 | 45 | ||||||||||||||||
Net earnings (loss) attributable to International Paper Company | 188 | (j) | 134 | (k) | 237 | (l) | 235 | (m,n) | 794 | (j-n) | |||||||||||
Basic earnings (loss) per share attributable to International Paper Company common shareholders: | |||||||||||||||||||||
Earnings (loss) from continuing operations | $ | 0.42 | (j) | $ | 0.27 | (k) | $ | 0.51 | (l) | $ | 0.52 | (m) | $ | 1.72 | (j-m) | ||||||
Gain from discontinued operations | 0.01 | 0.04 | 0.03 | 0.02 | 0.1 | ||||||||||||||||
Net earnings (loss) | 0.43 | (j) | 0.31 | (k) | 0.54 | (l) | 0.54 | (m,n) | 1.82 | (j-n) | |||||||||||
Diluted earnings (loss) per share attributable to International Paper Company common shareholders: | |||||||||||||||||||||
Earnings (loss) from continuing operations | 0.42 | (j) | 0.27 | (k) | 0.51 | (l) | 0.51 | (m) | 1.7 | (j-m) | |||||||||||
Gain from discontinued operations | 0.01 | 0.04 | 0.03 | 0.02 | 0.1 | ||||||||||||||||
Net earnings (loss) | 0.43 | (j) | 0.31 | (k) | 0.54 | (l) | 0.53 | (m,n) | 1.8 | (j-n) | |||||||||||
Dividends per share of common stock | 0.2625 | 0.2625 | 0.2625 | 0.3 | 1.0875 | ||||||||||||||||
Common stock prices | |||||||||||||||||||||
High | $ | 36.5 | $ | 35.59 | $ | 37.25 | $ | 39.88 | $ | 39.88 | |||||||||||
Low | 29.45 | 27.29 | 28.29 | 32.95 | 27.29 | ||||||||||||||||
Note: Since basic and diluted earnings per share are computed independently for each period and category, full year per share amounts may not equal the sum of the four quarters. | |||||||||||||||||||||
Footnotes to Interim Financial Results | |||||||||||||||||||||
(a) | Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested. | ||||||||||||||||||||
(b) | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | ||||||||||||||||||||
(c) | Includes a tax benefit of $93 million associated with the closing of a U.S. federal income tax audit and a net tax expense of $2 million related to internal restructurings. In addition, the first quarter tax rate includes a benefit of approximately $35 million related to the enactment into law of The American Taxpayer Relief Act of 2012 in January 2013. | ||||||||||||||||||||
(d) | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | ||||||||||||||||||||
(e) | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | ||||||||||||||||||||
(f) | Includes a tax benefit of $31 million for an income tax reserve release. In addition, the third quarter tax rate includes a $30 million benefit related to the adjustment of the tax basis in certain of the Company's fixed assets. | ||||||||||||||||||||
(g) | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | ||||||||||||||||||||
(h) | Includes a tax benefit of $651 million associated with the closing of a U.S. federal tax audit and a net tax benefit of $3 million for other items. | ||||||||||||||||||||
(i) | Includes pre-tax noncontrolling interest income of $4 million ($3 million after taxes) associated with the write-off of a trade name intangible asset in our India Papers business. | ||||||||||||||||||||
(j) Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. | |||||||||||||||||||||
(k) Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | |||||||||||||||||||||
(l) | Includes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | ||||||||||||||||||||
(m) Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | |||||||||||||||||||||
(n) Includes a net expense of $14 million related to internal restructurings and a $5 million expense to adjust deferred tax assets related to post-retirement prescription drug coverage (Medicare Part D reimbursements). | |||||||||||||||||||||
Schedule_II_Valuation_And_Qual1
Schedule II - Valuation And Qualifying Accounts Schedule II - Valuation And Qualifying Accounts (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | |||||||||||||||||
INTERNATIONAL PAPER COMPANY AND CONSOLIDATED SUBSIDIARIES | ||||||||||||||||||
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||
(In millions) | ||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||
Balance at | Additions | Additions | Deductions | Balance at | ||||||||||||||
Beginning | Charged to | Charged to | from | End of | ||||||||||||||
of Period | Earnings | Other | Reserves | Period | ||||||||||||||
Accounts | ||||||||||||||||||
Description | ||||||||||||||||||
Reserves Applied Against Specific Assets Shown on Balance Sheet: | ||||||||||||||||||
Doubtful accounts – current | $ | 119 | $ | 45 | $ | — | (55)(a) | $ | 109 | |||||||||
Restructuring reserves | 19 | 63 | — | (30)(b) | 52 | |||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||
Balance at | Additions | Additions | Deductions | Balance at | ||||||||||||||
Beginning | Charged to | Charged to | from | End of | ||||||||||||||
of Period | Earnings | Other | Reserves | Period | ||||||||||||||
Accounts | ||||||||||||||||||
Description | ||||||||||||||||||
Reserves Applied Against Specific Assets Shown on Balance Sheet: | ||||||||||||||||||
Doubtful accounts – current | $ | 126 | $ | 17 | $ | — | (24)(a) | $ | 119 | |||||||||
Restructuring reserves | 15 | 31 | — | (27)(b) | 19 | |||||||||||||
For the Year Ended December 31, 2011 | ||||||||||||||||||
Balance at | Additions | Additions | Deductions | Balance at | ||||||||||||||
Beginning | Charged to | Charged to | from | End of | ||||||||||||||
of Period | Earnings | Other | Reserves | Period | ||||||||||||||
Accounts | ||||||||||||||||||
Description | ||||||||||||||||||
Reserves Applied Against Specific Assets Shown on Balance Sheet: | ||||||||||||||||||
Doubtful accounts – current | $ | 129 | $ | 18 | $ | — | (21)(a) | $ | 126 | |||||||||
Restructuring reserves | 14 | 25 | — | (24)(b) | 15 | |||||||||||||
(a) | Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments. | |||||||||||||||||
(b) | Includes payments and deductions for reversals of previously established reserves that were no longer required. |
Summary_Of_Business_And_Signif3
Summary Of Business And Significant Accounting Policies Summary of Business and Significant Accounting Policies (Impact on Consolidated Statement of Operations Due To Elimination of One Quarter Reporting Lag for Ilim Table) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Equity earnings (loss), net of taxes | ' | ' | ' | ' | ' | ' | ' | ' | ($39) | $61 | $140 | ||||||||||
Earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 1,333 | 754 | 1,287 | ||||||||||
Net earnings (loss) attributable to International Paper Company | 436 | [1],[2],[3] | 382 | [4],[5] | 259 | [6] | 318 | [7],[8] | 235 | [10],[9] | 237 | [11] | 134 | [12] | 188 | [13] | 1,395 | [1],[2],[3],[4],[5],[6],[7],[8] | 794 | [10],[11],[12],[13],[9] | 1,322 |
Basic earnings (loss) per share from continuing operations | $0.98 | [1] | $0.88 | [5] | $0.53 | [6] | $0.66 | [8] | $0.52 | [10] | $0.51 | [11] | $0.27 | [12] | $0.42 | [13] | $3.05 | [1],[5],[6],[8] | $1.72 | [10],[11],[12],[13] | $2.95 |
Earnings Per Share, Basic | $0.99 | [1],[2],[3] | $0.86 | [4],[5] | $0.58 | [6] | $0.72 | [7],[8] | $0.54 | [10],[9] | $0.54 | [11] | $0.31 | [12] | $0.43 | [13] | $3.15 | [1],[2],[3],[4],[5],[6],[7],[8] | $1.82 | [10],[11],[12],[13],[9] | $3.06 |
Diluted earnings (loss) per share from continuing operations | $0.97 | [1] | $0.87 | [5] | $0.52 | [6] | $0.65 | [8] | $0.51 | [10] | $0.51 | [11] | $0.27 | [12] | $0.42 | [13] | $3.01 | [1],[5],[6],[8] | $1.70 | [10],[11],[12],[13] | $2.92 |
Earnings Per Share, Diluted | $0.98 | [1],[2],[3] | $0.85 | [4],[5] | $0.57 | [6] | $0.71 | [7],[8] | $0.53 | [10],[9] | $0.54 | [11] | $0.31 | [12] | $0.43 | [13] | $3.11 | [1],[2],[3],[4],[5],[6],[7],[8] | $1.80 | [10],[11],[12],[13],[9] | $3.03 |
Equity Method Lag Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Equity earnings (loss), net of taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19 | ||||||||||
Earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19 | ||||||||||
Net earnings (loss) attributable to International Paper Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($19) | ||||||||||
Basic earnings (loss) per share from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.04) | ||||||||||
Earnings Per Share, Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.04) | ||||||||||
Diluted earnings (loss) per share from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.04) | ||||||||||
Earnings Per Share, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.04) | ||||||||||
[1] | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | ||||||||||||||||||||
[2] | Includes pre-tax noncontrolling interest income of $4 million ($3 million after taxes) associated with the write-off of a trade name intangible asset in our India Papers business. | ||||||||||||||||||||
[3] | Includes a tax benefit of $651 million associated with the closing of a U.S. federal tax audit and a net tax benefit of $3 million for other items. | ||||||||||||||||||||
[4] | Includes a tax benefit of $31 million for an income tax reserve release. In addition, the third quarter tax rate includes a $30 million benefit related to the adjustment of the tax basis in certain of the Company's fixed assets. | ||||||||||||||||||||
[5] | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | ||||||||||||||||||||
[6] | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | ||||||||||||||||||||
[7] | Includes a tax benefit of $93 million associated with the closing of a U.S. federal income tax audit and a net tax expense of $2 million related to internal restructurings. In addition, the first quarter tax rate includes a benefit of approximately $35 million related to the enactment into law of The American Taxpayer Relief Act of 2012 in January 2013. | ||||||||||||||||||||
[8] | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | ||||||||||||||||||||
[9] | Includes a net expense of $14 million related to internal restructurings and a $5 million expense to adjust deferred tax assets related to post-retirement prescription drug coverage (Medicare Part D reimbursements). | ||||||||||||||||||||
[10] | Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | ||||||||||||||||||||
[11] | ncludes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | ||||||||||||||||||||
[12] | Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | ||||||||||||||||||||
[13] | Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. |
Summary_Of_Business_And_Signif4
Summary Of Business And Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary Of Business And Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity earnings (loss), net of taxes | ($39) | $61 | $140 |
Minimum [Member] | Building [Member] | ' | ' | ' |
Summary Of Business And Significant Accounting Policies [Line Items] | ' | ' | ' |
Annual straight-line depreciation rates | 2.50% | ' | ' |
Minimum [Member] | Machinery And Equipment [Member] | ' | ' | ' |
Summary Of Business And Significant Accounting Policies [Line Items] | ' | ' | ' |
Annual straight-line depreciation rates | 5.00% | ' | ' |
Maximum [Member] | Building [Member] | ' | ' | ' |
Summary Of Business And Significant Accounting Policies [Line Items] | ' | ' | ' |
Annual straight-line depreciation rates | 8.50% | ' | ' |
Maximum [Member] | Machinery And Equipment [Member] | ' | ' | ' |
Summary Of Business And Significant Accounting Policies [Line Items] | ' | ' | ' |
Annual straight-line depreciation rates | 33.00% | ' | ' |
Brazil [Member] | ' | ' | ' |
Summary Of Business And Significant Accounting Policies [Line Items] | ' | ' | ' |
Acres of forestlands managed or owned | 332,000 | ' | ' |
Earnings_Per_Share_Attributabl2
Earnings Per Share Attributable To International Paper Company Common Shareholders (Reconciliation Of Earnings Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Earnings Per Share, Basic and Diluted [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | $1,350 | $749 | $1,273 | |||||||||||
Effect of dilutive securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Earnings (loss) from continuing operations –assuming dilution | ' | ' | ' | ' | ' | ' | ' | ' | $1,350 | $749 | $1,273 | |||||||||||
Average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 443.3 | 435.2 | 432.2 | |||||||||||
Average common shares outstanding – assuming dilution | ' | ' | ' | ' | ' | ' | ' | ' | 448.1 | 440.2 | 437 | |||||||||||
Basic earnings (loss) per share from continuing operations | $0.98 | [1] | $0.88 | [2] | $0.53 | [3] | $0.66 | [4] | $0.52 | [5] | $0.51 | [6] | $0.27 | [7] | $0.42 | [8] | $3.05 | [1],[2],[3],[4] | $1.72 | [5],[6],[7],[8] | $2.95 | |
Diluted earnings (loss) per share from continuing operations | $0.97 | [1] | $0.87 | [2] | $0.52 | [3] | $0.65 | [4] | $0.51 | [5] | $0.51 | [6] | $0.27 | [7] | $0.42 | [8] | $3.01 | [1],[2],[3],[4] | $1.70 | [5],[6],[7],[8] | $2.92 | |
Restricted Stock Performance Share Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Earnings Per Share, Basic and Diluted [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Effect of dilutive securities (a) | ' | ' | ' | ' | ' | ' | ' | ' | 4.5 | [9] | 5 | [9] | 4.8 | [9] | ||||||||
Stock Option [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Earnings Per Share, Basic and Diluted [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Effect of dilutive securities (a) | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | [10],[9] | 0 | [10],[9] | 0 | [10],[9] | ||||||||
[1] | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | |||||||||||||||||||||
[2] | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | |||||||||||||||||||||
[3] | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | |||||||||||||||||||||
[4] | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | |||||||||||||||||||||
[5] | Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | |||||||||||||||||||||
[6] | ncludes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | |||||||||||||||||||||
[7] | Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | |||||||||||||||||||||
[8] | Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. | |||||||||||||||||||||
[9] | Securities are not included in the table in periods when antidilutive. | |||||||||||||||||||||
[10] | Options to purchase 0.0 million, 9.1 million and 15.6 million shares for the years ended December 31,2013, 2012 and 2011, respectively, were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company’s common stock for each respective reporting date. |
Earnings_Per_Share_Attributabl3
Earnings Per Share Attributable To International Paper Company Common Shareholders Earnings Per Share Attributable To International Paper Company Common Shareholders (Parenthetical Details) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Basic and Diluted [Abstract] | ' | ' | ' |
Stock options, options to purchase shares not included in the computation of diluted common shares outstanding | 0 | 9.1 | 15.6 |
Other_Comprehensive_Income_Oth2
Other Comprehensive Income Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income (Loss) Table) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |||
Beginning balance | ($3,840) | [1] | ($3,005) | [1] | ($1,825) | [1] |
Other comprehensive income (loss), before reclassifications, net of tax | 741 | [1] | -1,020 | [1] | -1,323 | [1] |
Reclassification from accumulated other comprehensive income, current period, net of tax | 317 | [1] | 182 | [1] | 147 | [1] |
Other comprehensive income (loss), net of tax | 1,058 | [1] | -838 | [1] | -1,176 | [1] |
Comprehensive (income) loss, net of tax, attributable to noncontrolling interest | 23 | [1] | 3 | [1] | -4 | [1] |
Ending balance | -2,759 | [1] | -3,840 | [1] | -3,005 | [1] |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |||
Beginning balance | -3,596 | [1] | -2,852 | [1] | -2,203 | [1] |
Other comprehensive income (loss), before reclassifications, net of tax | 1,184 | [1] | -939 | [1] | -788 | [1] |
Reclassification from accumulated other comprehensive income, current period, net of tax | 307 | [1] | 195 | [1] | 139 | [1] |
Other comprehensive income (loss), net of tax | 1,491 | [1] | -744 | [1] | -649 | [1] |
Comprehensive (income) loss, net of tax, attributable to noncontrolling interest | 0 | [1] | 0 | [1] | 0 | [1] |
Ending balance | -2,105 | [1] | -3,596 | [1] | -2,852 | [1] |
Accumulated Translation Adjustment [Member] | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |||
Beginning balance | -246 | [1] | -118 | [1] | 378 | [1] |
Other comprehensive income (loss), before reclassifications, net of tax | -443 | [1] | -96 | [1] | -492 | [1] |
Reclassification from accumulated other comprehensive income, current period, net of tax | 17 | [1] | -35 | [1] | 0 | [1] |
Other comprehensive income (loss), net of tax | -426 | [1] | -131 | [1] | -492 | [1] |
Comprehensive (income) loss, net of tax, attributable to noncontrolling interest | 23 | [1] | 3 | [1] | -4 | [1] |
Ending balance | -649 | [1] | -246 | [1] | -118 | [1] |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |||
Beginning balance | 2 | [1] | -35 | [1] | 0 | [1] |
Other comprehensive income (loss), before reclassifications, net of tax | 0 | [1] | 15 | [1] | -43 | [1] |
Reclassification from accumulated other comprehensive income, current period, net of tax | -7 | [1] | 22 | [1] | 8 | [1] |
Other comprehensive income (loss), net of tax | -7 | [1] | 37 | [1] | -35 | [1] |
Comprehensive (income) loss, net of tax, attributable to noncontrolling interest | 0 | [1] | 0 | [1] | 0 | [1] |
Ending balance | ($5) | [1] | $2 | [1] | ($35) | [1] |
[1] | All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. |
Other_Comprehensive_Income_Oth3
Other Comprehensive Income Other Comprehensive Income (Schedule of Reclassications Out of Accumualted Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Tax (expense)/benefit | $523 | ($331) | ($311) | |||
Earnings (loss) from continuing operations | 1,333 | 754 | 1,287 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Earnings (loss) from continuing operations | -317 | [1] | -182 | [1] | -147 | [1] |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Prior service cost | -9 | [1],[2] | -2 | [1],[2] | -6 | [1],[2] |
Actuarial gains losses | -493 | [1],[2] | -317 | [1],[2] | -221 | [1],[2] |
Total pre-tax amount | -502 | [1] | -319 | [1] | -227 | [1] |
Tax (expense)/benefit | 195 | [1] | 124 | [1] | 88 | [1] |
Earnings (loss) from continuing operations | -307 | [1] | -195 | [1] | -139 | [1] |
Business Acquisitions/Divestitures [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Business acquisitions / divestitures | -17 | [1] | 48 | [1] | 0 | [1] |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Tax (expense)/benefit | 0 | [1] | -13 | [1] | 0 | [1] |
Accumulated Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Earnings (loss) from continuing operations | -17 | [1] | 35 | [1] | 0 | [1] |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Total pre-tax amount | 10 | [1] | -35 | [1] | -16 | [1] |
Tax (expense)/benefit | -3 | [1] | 13 | [1] | 8 | [1] |
Earnings (loss) from continuing operations | 7 | [1] | -22 | [1] | -8 | [1] |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Foreign Exchange Forward [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Cost of products sold | 10 | [1],[3] | -24 | [1],[3] | 10 | [1],[3] |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Commodity Contract [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Cost of products sold | 0 | [1],[3] | 0 | [1],[3] | 6 | [1],[3] |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Natural Gas Swap Contracts [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |||
Cost of products sold | $0 | [1],[3] | ($11) | [1],[3] | ($32) | [1],[3] |
[1] | Amounts in parentheses indicate debits to earnings/loss. | |||||
[2] | These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 16 for additional details). | |||||
[3] | This accumulated other comprehensive income component is included in our derivatives and hedging activities (see Note 14 for additional details). |
Restructuring_and_Other_Charge2
Restructuring and Other Charges (Restructuring and Related Costs Tables) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | |||||||||||||||
Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Eleven Organizational Restructuring Charges [Member] | Two Thousand And Eleven Organizational Restructuring Charges [Member] | Two Thousand And Eleven Organizational Restructuring Charges [Member] | Two Thousand And Eleven Organizational Restructuring Charges [Member] | Two Thousand And Eleven Organizational Restructuring Charges [Member] | Two Thousand And Eleven Organizational Restructuring Charges [Member] | Two Thousand And Eleven Organizational Restructuring Charges [Member] | |||||||||||||||||||
Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | xpedx Divestiture [Member] | xpedx Divestiture [Member] | xpedx Divestiture [Member] | xpedx Divestiture [Member] | Courtland Mill Shutdown [Member] | Courtland Mill Shutdown [Member] | Courtland Mill Shutdown [Member] | CTA Bellevue Facility Closure [Member] | CTA Bellevue Facility Closure [Member] | Augusta Mill Paper Machine Shutdown [Member] | Augusta Mill Paper Machine Shutdown [Member] | Insurance Recovery [Member] | Insurance Recovery [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | EMEA Packaging Restructuring [Member] | EMEA Packaging Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Early Debt Extinguishment Costs [Member] | X P E D X Restructuring [Member] | Temple Inland Merger Agreement [Member] | Appm Acquisition [Member] | Franklin Virginia Mill Closure Costs [Member] | Other Restructuring [Member] | ||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Restructuring and other related charges | $210 | $109 | $102 | $210 | $15 | $3 | $6 | $25 | $6 | [1] | $17 | [1] | $7 | [1] | $32 | [2] | $8 | $11 | $3 | $22 | $67 | $51 | $118 | [3] | $9 | ($13) | $44 | $45 | [4] | ($30) | ($30) | $0 | $2 | $3 | $2 | $11 | [5] | $109 | $9 | $13 | $10 | $16 | $48 | $7 | [1] | $9 | [1] | $12 | [1] | $21 | [1] | $44 | [1] | $16 | $17 | [2] | $5 | ($5) | $2 | ($1) | $0 | $102 | $32 | $49 | [6] | $20 | $18 | ($24) | [7] | $7 |
Restructuring and other related charges net of tax | ' | ' | ' | $131 | $9 | $2 | $4 | $16 | $4 | [1] | $10 | [1] | $4 | [1] | $19 | [2] | $5 | $7 | $2 | $14 | $41 | $31 | $72 | [3] | $6 | ($8) | $27 | $28 | [4] | ($19) | ($19) | $1 | ' | $3 | $1 | $9 | [5] | $74 | $6 | $8 | $6 | $10 | $30 | $4 | [1] | $5 | [1] | $8 | [1] | $16 | [1] | $28 | [1] | $11 | $12 | [2] | $4 | $0 | $2 | ($1) | $4 | $66 | $19 | $34 | [6] | $12 | $12 | ($15) | [7] | $4 |
[1] | Includes $14 million of severance charges. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Includes $17 million of severance charges. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Includes $73 million of accelerated depreciation and other non-cash charges, $42 million of severance charges and $3 million of other charges which are recorded in the Printing Papers segment. During 2013, the Company accelerated depreciation for certain Courtland assets, and diligently evaluated certain other assets for possible alternative uses by one of our other businesses. The net book value of these assets at December 31, 2013 was approximately $470 million. During 2014, we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Includes $39 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges which are recorded in the Consumer Packaging segment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Includes $2 million of severance charges. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Includes $19 million of severance charges. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | Includes a $21 million credit related to the reversal of an environmental reserve. |
Restructuring_and_Other_Charge3
Restructuring and Other Charges Schedule of Restructuring and Related Costs (Parenthetical Details) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Assets | $31,528 | $32,153 | ' |
X P E D X Restructuring [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance costs | 17 | 14 | 19 |
Courtland Mill Shutdown [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance costs | 42 | ' | ' |
Other restructuring costs | 3 | ' | ' |
Assets | 470 | ' | ' |
Restructuring and related cost, accelerated depreciation | 73 | ' | ' |
Augusta Mill Paper Machine Shutdown [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance costs | 2 | ' | ' |
Other restructuring costs | 4 | ' | ' |
Restructuring and related cost, accelerated depreciation | 39 | ' | ' |
Other Restructuring [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance costs | 2 | ' | ' |
EMEA Packaging Restructuring [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance costs | ' | 17 | ' |
Franklin Virginia Mill Closure Costs [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and other related charges environmental closure costs | ' | ' | ($21) |
Restructuring_and_Other_Charge4
Restructuring and Other Charges (Rollforward Of Severance And Other Costs Tables) (Details) (Employee Severance And Other Cost [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Two Thousand And Thirteen Organizational Restructuring Charges [Member] | ' | ' | ' |
Restructuring Reserve by Type of Cost [Line Items] | ' | ' | ' |
Additions and adjustments | $63 | ' | ' |
Cash charges | -21 | ' | ' |
Ending balance | 42 | ' | ' |
Two Thousand And Twelve Organizational Restructuring Charges [Member] | ' | ' | ' |
Restructuring Reserve by Type of Cost [Line Items] | ' | ' | ' |
Additions and adjustments | ' | 31 | ' |
Cash charges | -6 | -15 | ' |
Ending balance | 10 | ' | ' |
Two Thousand And Eleven Organizational Restructuring Charges [Member] | ' | ' | ' |
Restructuring Reserve by Type of Cost [Line Items] | ' | ' | ' |
Additions and adjustments | ' | ' | 25 |
Cash charges | -1 | -8 | -16 |
Ending balance | $0 | ' | ' |
Restructuring_and_Other_Charge5
Restructuring and Other Charges (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 |
gal | ||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and other related charges | $210 | $109 | $102 | ' |
Production of black liquor not eligible for alternative fuel mixture credit, in gallons | ' | ' | ' | 64,000,000 |
Income tax provision (benefit) related to special items | 924 | 85 | 266 | ' |
Two Thousand And Thirteen Organizational Restructuring Charges [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and other related charges | 210 | ' | ' | ' |
Restructuring and other related charges net of tax | 131 | ' | ' | ' |
Severance charges | 63 | ' | ' | ' |
Restructuring and related cost, expected number of positions eliminated | 1,686 | ' | ' | ' |
Restructuring and related cost, number of positions eliminated | 624 | ' | ' | ' |
Two Thousand And Twelve Organizational Restructuring Charges [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and other related charges | ' | 109 | ' | ' |
Restructuring and other related charges net of tax | ' | 74 | ' | ' |
Severance charges | ' | 31 | ' | ' |
Restructuring and related cost, expected number of positions eliminated | ' | 811 | ' | ' |
Restructuring and related cost, number of positions eliminated | 680 | ' | ' | ' |
Two Thousand And Eleven Organizational Restructuring Charges [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and other related charges | ' | ' | 102 | ' |
Restructuring and other related charges net of tax | ' | ' | 66 | ' |
Severance charges | ' | ' | 25 | ' |
Restructuring and related cost, expected number of positions eliminated | ' | ' | 629 | ' |
Restructuring and related cost, number of positions eliminated | 629 | ' | ' | ' |
Temple Inland [Member] | Cellulosic Bio-Fuel Tax Credit [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Income tax provision (benefit) related to special items | 753 | ' | 83 | ' |
Parent Company [Member] | Cellulosic Bio-Fuel Tax Credit [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Income tax provision (benefit) related to special items | ' | ' | $40 | ' |
Acquisitions_And_Joint_Venture2
Acquisitions And Joint Ventures (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Jan. 02, 2013 | Feb. 13, 2012 | Oct. 14, 2011 | Jan. 14, 2013 |
In Millions, unless otherwise specified | Olmuksan Joint Venture [Member] | Temple Inland Inc [Member] | Andhra Pradesh Paper Mills Limited [Member] | Orsa IP [Member] | ||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and equivalents | ' | ' | ' | ' | $5 | ' | $3 | $16 |
Receivables | ' | ' | ' | ' | 72 | 466 | 7 | 5 |
Inventory | ' | ' | ' | ' | 31 | 484 | 43 | 27 |
Deferred income tax assets | ' | ' | ' | ' | ' | 140 | ' | ' |
Other current assets | ' | ' | ' | ' | 2 | 57 | 13 | ' |
Property, plant, and equipment | ' | ' | ' | ' | 106 | 2,911 | 352 | 290 |
Financial assets | ' | ' | 2,090 | ' | ' | 2,091 | ' | ' |
Goodwill | 3,987 | 4,315 | ' | 2,346 | ' | 2,139 | 138 | 260 |
Intangible assets, other than goodwill | ' | ' | ' | ' | ' | 693 | 91 | 110 |
Deferred charges and other assets | ' | ' | ' | ' | ' | 54 | ' | ' |
Deferred tax assets noncurrent | ' | ' | ' | ' | ' | ' | 4 | ' |
Investments | ' | ' | ' | ' | 11 | ' | ' | ' |
Other noncurrent assets | ' | ' | ' | ' | ' | ' | 1 | 2 |
Assets | ' | ' | ' | ' | 227 | 9,035 | 652 | 710 |
Long-term debt | ' | ' | ' | ' | 17 | 130 | ' | ' |
Accounts payable | ' | ' | ' | ' | 27 | 704 | 67 | 68 |
Long-term debt | ' | ' | ' | ' | ' | 527 | 47 | ' |
Financial liabilities | ' | ' | 2,030 | ' | ' | 2,030 | ' | ' |
Deferred tax liabilities noncurrent | ' | ' | ' | ' | 4 | 1,252 | 90 | 37 |
Pension benefit obligation | ' | ' | ' | ' | ' | 338 | ' | ' |
Postretirement and postemployment benefit obligation | ' | ' | ' | ' | 6 | 99 | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' | ' | 221 | 11 | ' |
Liabilities | ' | ' | ' | ' | 54 | 5,301 | 215 | 105 |
Noncontrolling interest | ' | ' | ' | ' | 18 | ' | 37 | 134 |
Net assets acquired less noncontrolling interest | ' | ' | ' | ' | 155 | ' | 400 | 471 |
Net assets acquired | ' | ' | ' | ' | ' | $3,734 | ' | ' |
Acquisitions_And_Joint_Venture3
Acquisitions And Joint Ventures (Identifiable Intangible Assets Acquired In Connection With Acquisition) (Details) (USD $) | Feb. 13, 2012 | Jan. 14, 2013 | Oct. 14, 2011 | Feb. 13, 2012 | Jan. 14, 2013 | Feb. 13, 2012 | Feb. 13, 2012 | Feb. 13, 2012 | Feb. 13, 2012 | Feb. 13, 2012 | Feb. 13, 2012 | Feb. 13, 2012 | Feb. 13, 2012 | Feb. 13, 2012 | Oct. 14, 2011 | Oct. 14, 2011 | Oct. 14, 2011 | Oct. 14, 2011 | Jan. 14, 2013 | Jan. 14, 2013 | Feb. 13, 2012 | Oct. 14, 2011 |
In Millions, unless otherwise specified | Temple Inland Inc [Member] | Orsa IP [Member] | Andhra Pradesh Paper Mills Limited [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Favorable Contracts [Member] | Favorable Contracts [Member] | Favorable Contracts [Member] | Non-Compete Agreement [Member] | Non-Compete Agreement [Member] | Fuel Supply Agreements [Member] | Power Purchase Arrangements [Member] | Wholesale Distribution Network [Member] | Trademarks [Member] | Wood Supply Agreement [Member] | Trade Names [Member] | Trade Names [Member] |
Temple Inland Inc [Member] | Orsa IP [Member] | Minimum [Member] | Maximum [Member] | Temple Inland Inc [Member] | Minimum [Member] | Maximum [Member] | Temple Inland Inc [Member] | Minimum [Member] | Maximum [Member] | Temple Inland Inc [Member] | Andhra Pradesh Paper Mills Limited [Member] | Andhra Pradesh Paper Mills Limited [Member] | Andhra Pradesh Paper Mills Limited [Member] | Andhra Pradesh Paper Mills Limited [Member] | Orsa IP [Member] | Orsa IP [Member] | Temple Inland Inc [Member] | Andhra Pradesh Paper Mills Limited [Member] | ||||
Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | |||||||||||||||||
Finite-lived and Indefinite-Lived Intangible Assets Acquired as Part of a Business Combination [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Fair Value | ' | ' | ' | $536 | $88 | ' | ' | $8 | ' | ' | $14 | ' | ' | $26 | $58 | $5 | $5 | $3 | $3 | $19 | ' | ' |
Estimated fair value of indefinite-lived intangible assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 109 | 20 |
Intangible assets, other than goodwill | $693 | $110 | $91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average Remaining Useful Life | ' | ' | ' | ' | '12 years | '12 years | '17 years | ' | '5 years | '10 years | ' | '4 years | '7 years | '2 years | '6 years | '2 years | '5 years | '18 years | '6 years | '25 years | ' | ' |
Acquisitions_And_Joint_Venture4
Acquisitions And Joint Ventures (Pro Forma Information On Consolidated Results Of Operations Related To Acquisitions) (Details) (Temple Inland Inc [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2012 |
Temple Inland Inc [Member] | ' |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' |
Net sales | $28,125 |
Earnings (loss) from continuing operations | 805 |
Net earnings (loss) (a) | $845 |
Diluted earnings (loss) from continuing operations per share | $1.82 |
Diluted net earnings (loss) per share (a) | $1.92 |
Acquisitions_And_Joint_Venture5
Acquisitions And Joint Ventures (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2013 | Jan. 02, 2013 | Dec. 31, 2012 | Feb. 13, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 14, 2011 | Oct. 08, 2011 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 14, 2013 | Jan. 31, 2013 | Jan. 02, 2013 | Oct. 14, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2011 |
Olmuksan Joint Venture [Member] | Olmuksan Joint Venture [Member] | Olmuksan Joint Venture [Member] | Olmuksan Joint Venture [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Andhra Pradesh Paper Mills Limited [Member] | Andhra Pradesh Paper Mills Limited [Member] | Andhra Pradesh Paper Mills Limited [Member] | Andhra Pradesh Paper Mills Limited [Member] | Shandong IP & Sun Food Packaging Co., Ltd. [Member] | Orsa IP [Member] | Orsa IP [Member] | International Paper [Member] | International Paper [Member] | International Paper [Member] | International Paper [Member] | International Paper [Member] | Sun Food Packaging Co., Ltd. [Member] | Sun Food Packaging Co., Ltd. [Member] | Non-Compete Agreement [Member] | Minimum [Member] | Maximum [Member] | Equity earnings (Ioss), net of taxes [Member] | ||||
T | T | Facilities | Olmuksan Joint Venture [Member] | Olmuksan Joint Venture [Member] | Andhra Pradesh Paper Mills Limited [Member] | Shandong IP & Sun Food Packaging Co., Ltd. [Member] | Shandong IP & Sun Food Packaging Co., Ltd. [Member] | Shandong IP & Sun Food Packaging Co., Ltd. [Member] | Shandong IP & Sun Food Packaging Co., Ltd. [Member] | Andhra Pradesh Paper Mills Limited [Member] | Olmuksan Joint Venture [Member] | Olmuksan Joint Venture [Member] | ||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to acquire businesses, gross | ' | ' | ' | ' | ' | ' | ' | $3,700 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $226 | $105 | ' | ' | ' | ' | ' | $56 | ' | ' | ' | ' | ' | ' | $58 | ' | ' | ' |
Equity interest in acquiree | ' | ' | ' | ' | ' | 43.70% | 43.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53.50% | 21.50% | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of interest acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | 87.40% | ' | ' | 55.00% | 45.00% | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | 12.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of equity interest in acquiree | ' | ' | ' | ' | ' | 75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remeasurement gain | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value inputs, discount rate | ' | ' | ' | 13.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value inputs, long-term revenue growth rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 9.00% | ' |
Fair value inputs, corporate tax rate | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency transaction gain (loss), realized | ' | ' | ' | ' | 17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on bargain purchase price adjustment | 13 | 0 | 0 | ' | -21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7 |
Outstanding common stock acquired, price per share | ' | ' | ' | ' | ' | ' | ' | $32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business, debt assumed | ' | ' | ' | ' | ' | ' | ' | 700 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mills required to be divested | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tons of aggregate capacity to be divested | ' | ' | ' | ' | ' | ' | ' | 970,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory write up | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory write up after taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Integration related costs | ' | ' | ' | ' | ' | ' | ' | ' | 12 | 24 | 14 | 12 | 28 | 58 | 35 | 43 | 62 | 164 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Integration related costs, after taxes | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 15 | 8 | 8 | 19 | 34 | 22 | 33 | 38 | 105 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposited in escrow account | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Containerboard mills acquired in business acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Box plants acquired in business acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net assets acquired less noncontrolling interest | ' | ' | ' | ' | ' | 155 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | ' | ' | ' | 471 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable Noncontrolling Interest | 163 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 163 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid to purchase interest in joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55 | ' | ' | ' | ' | ' | ' | ' |
Land-use rights, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $28 | ' | ' | ' | ' |
Combined production capacity, tons | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Businesses_Held_For_Sale_Dives1
Businesses Held For Sale, Divestitures And Impairments (Details) (USD $) | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 22, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 12, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 12, 2012 | Jan. 04, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2011 |
AGI-Shorewood [Member] | Temple Inland Building Products Business [Member] | Temple Inland Building Products Business [Member] | Temple Inland Building Products Business [Member] | Temple Inland Building Products Business [Member] | Temple Inland Building Products Business [Member] | Temple Inland Building Products Business [Member] | Kraft Papers Company [Member] | Brazilian Coated Papers [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Hueneme Mill [Member] | Hueneme Mill [Member] | Shorewood Divestiture [Member] | Inverurie, Scotland Mill [Member] | ||||
Facilities | Facilities | Deltic Timber Corporation (Deltic) [Member] | Georgia-Pacific [Member] | Georgia-Pacific [Member] | ||||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal group, transfer of ownership interest | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal of business, contractual sale price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of facilities to be sold | ' | ' | ' | ' | 15 | ' | 16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from divestiture of businesses, net of cash divested | 726 | 474 | 50 | ' | ' | ' | ' | 20 | 733 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets held-for-sale, current | 0 | 759 | ' | ' | ' | 759 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, gross | 7,928 | 7,744 | 5,775 | ' | ' | 26 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired finite and indefinite-lived intangible asset amount | ' | ' | ' | ' | ' | 153 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities of assets held-for-sale | 0 | 44 | ' | ' | ' | 44 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received under earn out provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received under earn out provision, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax adjustments, settlements, and unusual provisions | -775 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income on reversal of tax contingency reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income on reversal of tax contingency reserve, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal group, not discontinued operation, gain (loss) on disposal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1 | -1 | -19 | -9 | -3 | -29 | ' | ' | ' | ' |
Disposal group, not discontinued operation, gain (loss) on disposal, after tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1 | -49 | -5 | -1 | -55 | ' | ' | ' | ' |
Mills required to be divested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' |
Impairment of long-lived assets to be disposed of | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62 | ' | 207 | 11 |
Impairment of long lived assets to be disposed of, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38 | 38 | ' | 11 |
Net (gains) losses on sales and impairments of businesses | 3 | 86 | 218 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -246 | ' |
Gain related to impairment charge passed to minority shareholder | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' |
Impairment of long lived assets to be disposed of, net of tax and noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($47) | ' |
Noncontrolling interest, ownership percentage by noncontrolling owners | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplementary_Financial_Statem2
Supplementary Financial Statement Information (Temporary Investments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Supplementary Financial Statement Information [Abstract] | ' | ' |
Temporary Investments | $1,398 | $934 |
Supplementary_Financial_Statem3
Supplementary Financial Statement Information (Accounts And Notes Receivable) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts and notes receivable | $3,756 | $3,562 |
Trade [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts and notes receivable | 3,497 | 3,316 |
Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts and notes receivable | $259 | $246 |
Supplementary_Financial_Statem4
Supplementary Financial Statement Information (Inventories By Major Category) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Supplementary Financial Statement Information [Abstract] | ' | ' |
Raw materials | $372 | $360 |
Finished pulp, paper and packaging products | 1,834 | 1,728 |
Operating supplies | 572 | 588 |
Other | 47 | 54 |
Inventories | $2,825 | $2,730 |
Supplementary_Financial_Statem5
Supplementary Financial Statement Information (Plants, Properties And Equipment By Major Classification) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Gross cost | $33,746 | $32,883 |
Less: Accumulated depreciation | 20,074 | 18,934 |
Plants, properties and equipment, net | 13,672 | 13,949 |
Pulp, Paper And Packaging Facilities - Mills [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Gross cost | 22,105 | 23,625 |
Pulp, Paper And Packaging Facilities - Packaging Plants [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Gross cost | 10,163 | 7,184 |
Other Plants, Properties And Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Gross cost | $1,478 | $2,074 |
Supplementary_Financial_Statem6
Supplementary Financial Statement Information (Schedule Of Depreciation Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplementary Financial Statement Information [Abstract] | ' | ' | ' |
Depreciation expense | $1,423 | $1,399 | $1,263 |
Supplementary_Financial_Statem7
Supplementary Financial Statement Information (Cash Payments Related To Interest) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplementary Financial Statement Information [Abstract] | ' | ' | ' |
Interest payments | $751 | $740 | $629 |
Supplementary_Financial_Statem8
Supplementary Financial Statement Information (Schedule Of Interest Income And Interest Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplementary Financial Statement Information [Abstract] | ' | ' | ' |
Interest expense | $669 | $743 | $596 |
Interest income | 57 | 71 | 55 |
Capitalized interest costs | $17 | $37 | $22 |
Supplementary_Financial_Statem9
Supplementary Financial Statement Information Supplementary Financial Statement Information (Interest Income and Interest Expense Parenthetical) (Details) (Variable Interest Entity, Not Primary Beneficiary [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Variable Interest Entity, Not Primary Beneficiary [Member] | ' | ' | ' |
Interest Income and Interest Expense [Line Items] | ' | ' | ' |
Interest expense and interest income excluded, amount | $45 | $49 | $49 |
Recovered_Sheet1
Supplementary Financial Statement Information (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Supplementary Financial Statement Information [Abstract] | ' | ' |
Percentage of inventories valued using last-in, first-out inventory method | 75.00% | ' |
Excess of replacement or current costs over stated LIFO value | $417 | $381 |
Goodwill_And_Other_Intangibles2
Goodwill And Other Intangibles (Changes In Goodwill Balances) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | |||||||||||||||||||
Industrial Packaging [Member] | Industrial Packaging [Member] | Industrial Packaging [Member] | Industrial Packaging [Member] | Printing Papers [Member] | Printing Papers [Member] | Printing Papers [Member] | Printing Papers [Member] | Consumer Packaging [Member] | Consumer Packaging [Member] | Consumer Packaging [Member] | Consumer Packaging [Member] | Distribution [Member] | Distribution [Member] | Distribution [Member] | Distribution [Member] | Distribution [Member] | ||||||||||||||||||||||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||
Goodwill | $7,744 | $5,775 | ' | $7,928 | $3,165 | $1,157 | $3,430 | ' | $2,396 | $2,439 | $2,311 | ' | $1,783 | $1,779 | $1,787 | ' | ' | $400 | $400 | $400 | ' | |||||||||||||||||||
Accumulated impairment losses | -3,429 | [1] | -3,429 | [1] | ' | 3,941 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | ' | -1,765 | [1] | -1,765 | [1] | 1,877 | [1] | ' | -1,664 | [1] | -1,664 | [1] | 1,664 | [1] | ' | ' | 0 | [1] | 0 | [1] | -400 | [1] | ' | ||||
Reclassifications and other | -88 | [2] | -38 | [2] | ' | ' | -28 | [2] | 1 | [2] | ' | ' | -63 | [2] | -40 | [2] | ' | ' | 3 | [2] | 1 | [2] | ' | ' | ' | 0 | [2] | 0 | [2] | ' | ' | |||||||||
Additions/reductions | 272 | 2,007 | ' | ' | 293 | [3] | 2,007 | [4] | ' | ' | -22 | [5] | -3 | [6] | ' | ' | 1 | [7] | 3 | ' | ' | ' | 0 | 0 | ' | ' | ||||||||||||||
Impairment of goodwill and other intangibles | 512 | 0 | 0 | ' | 0 | ' | ' | ' | 112 | ' | ' | ' | 0 | ' | ' | ' | 400 | 400 | ' | ' | ' | |||||||||||||||||||
Total | $3,987 | $4,315 | $2,346 | ' | $3,430 | $3,165 | ' | $1,157 | $434 | $631 | ' | $674 | $123 | $119 | ' | $115 | $0 | $0 | $400 | ' | $400 | |||||||||||||||||||
[1] | Represents accumulated goodwill impairment charges since the adoption of ASC 350, “Intangibles – Goodwill and Other†in 2002. | |||||||||||||||||||||||||||||||||||||||
[2] | Represents the effects of foreign currency translations and reclassifications. | |||||||||||||||||||||||||||||||||||||||
[3] | Reflects $260 million for Orsa IP, the newly formed joint venture in Brazil and the adjustment of $54 million ($33 million after-tax) previously included as a trade name intangible asset in Deferred Charges and Other Assets on the balance sheet. | |||||||||||||||||||||||||||||||||||||||
[4] | Reflects the acquisition of Temple-Inland, net of amounts written off related to the divestiture of two Temple-Inland mills (Ontario, California and New Johnsonville, Tennessee) and one International Paper mill (Oxnard, (Hueneme), California). Also excludes the goodwill for Building Products which was reclassified to Businesses Held for Sale. | |||||||||||||||||||||||||||||||||||||||
[5] | Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. | |||||||||||||||||||||||||||||||||||||||
[6] | Reflects an increase related to a purchase price adjustment of Andhra Pradesh Paper Mills in India partially offset by a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil. | |||||||||||||||||||||||||||||||||||||||
[7] | Represents the impairment of goodwill for the India Papers business and xpedx. |
Goodwill_And_Other_Intangibles3
Goodwill And Other Intangibles Goodwill And Other Intangibles (Changes in Goodwill Balances Parenthetical) (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 14, 2013 | Dec. 31, 2013 | Feb. 13, 2012 |
Orsa IP [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | ||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' |
Goodwill | $3,987 | $4,315 | $2,346 | $260 | ' | $2,139 |
Goodwill, period increase (decrease) | ' | ' | ' | ' | 54 | ' |
Goodwill, period increase (decrease), net of tax | $272 | $2,007 | ' | ' | $33 | ' |
Goodwill_And_Other_Intangibles4
Goodwill And Other Intangibles (Identifiable Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | |
Gross carrying amount, finite and indefinite-lived intangible assets | $920 | $1,080 | |
Accumulated Amortization | 272 | 214 | |
Customer-Related Intangible Assets [Member] | ' | ' | |
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | |
Gross carrying amount, finite-lived intangible assets | 602 | 644 | |
Accumulated Amortization | 139 | 112 | |
Noncompete Agreements [Member] | ' | ' | |
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | |
Gross carrying amount, finite-lived intangible assets | 76 | 83 | |
Accumulated Amortization | 46 | 30 | |
Intellectual Property [Member] | ' | ' | |
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | |
Gross carrying amount, finite and indefinite-lived intangible assets | 67 | [1] | 144 |
Accumulated Amortization | 33 | 16 | |
Use Rights [Member] | ' | ' | |
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | |
Gross carrying amount, finite and indefinite-lived intangible assets | 76 | 87 | |
Accumulated Amortization | 5 | 6 | |
Fuel And Power Agreements [Member] | ' | ' | |
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | |
Gross carrying amount, finite-lived intangible assets | 7 | 17 | |
Accumulated Amortization | 2 | 12 | |
Computer Software, Intangible Asset [Member] | ' | ' | |
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | |
Gross carrying amount, finite-lived intangible assets | 17 | 22 | |
Accumulated Amortization | 15 | 19 | |
Other Intangible Assets [Member] | ' | ' | |
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' | ' | |
Gross carrying amount, finite-lived intangible assets | 75 | 83 | |
Accumulated Amortization | $32 | $19 | |
[1] | Includes $15 million recorded to write-off a tradename intangible asset of the Company's India Papers business. This amount is included in Impairment of goodwill and other intangibles in the accompanying consolidated statement of operations. |
Goodwill_And_Other_Intangibles5
Goodwill And Other Intangibles Goodwill And Other Intangibles (Identifiable Intangible Assets Parenthetical) (Details) (Printing Papers [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Printing Papers [Member] | ' |
Finite and Indefinite-Lived Intangible Assets [Line Items] | ' |
Impairment of Intangible Assets, Finite-lived | $15 |
Goodwill_And_Other_Intangibles6
Goodwill And Other Intangibles (Amortization Expense Of Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization expense related to intangible assets | $87 | $58 | $32 |
Goodwill_And_Other_Intangibles7
Goodwill And Other Intangibles (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Printing Papers [Member] | Distribution [Member] | Distribution [Member] | ||||
Goodwill And Intangible Assets Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Impairment of goodwill and other intangibles | ($512) | $0 | $0 | ($112) | ($400) | ($400) |
Intangibles subject to amortization, estimated amortization expense, next 12 months | 60 | ' | ' | ' | ' | ' |
Intangibles subject to amortization, estimated amortization expense, year 2 | 59 | ' | ' | ' | ' | ' |
Intangibles subject to amortization, estimated amortization expense, year 3 | 58 | ' | ' | ' | ' | ' |
Intangibles subject to amortization, estimated amortization expense, year 4 | 56 | ' | ' | ' | ' | ' |
Intangibles subject to amortization, estimated amortization expense, year 5 | 50 | ' | ' | ' | ' | ' |
Intangibles subject to amortization, estimated amortization expense cumulatively thereafter | $365 | ' | ' | ' | ' | ' |
Income_Taxes_Schedule_of_Incom
Income Taxes (Schedule of Income Before Income Tax, Domestic and Foreign) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
U.S. | ' | ' | ' | ' | ' | ' | ' | ' | $394 | $478 | $874 | ||||||||||
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 455 | 546 | 584 | ||||||||||
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY EARNINGS | ($155) | [1] | $411 | [2] | $363 | [3] | $230 | [4] | $287 | [5] | $320 | [6] | $204 | [7] | $213 | [8] | $849 | [1],[2],[3],[4] | $1,024 | [5],[6],[7],[8] | $1,458 |
[1] | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | ||||||||||||||||||||
[2] | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | ||||||||||||||||||||
[3] | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | ||||||||||||||||||||
[4] | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | ||||||||||||||||||||
[5] | Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | ||||||||||||||||||||
[6] | ncludes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | ||||||||||||||||||||
[7] | Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | ||||||||||||||||||||
[8] | Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. |
Income_Taxes_Schedule_of_Compo
Income Taxes (Schedule of Components of Income Tax Expense (Benefit) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current tax provision (benefit), U.S. federal | ($697) | $14 | ($78) |
Current tax provision (benefit), U.S. state and local | -95 | 11 | -19 |
Current tax provision (benefit), Non-U.S. | 123 | 102 | 91 |
Current tax provision (benefit), total | -669 | 127 | -6 |
Deferred tax provision (benefit), U.S. federal | 186 | 226 | 207 |
Deferred tax provision (benefit), U.S. state and local | -21 | 6 | 46 |
Deferred tax provision (benefit), Non-U.S. | -19 | -28 | 64 |
Deferred income tax provision (benefit), net | 146 | 204 | 317 |
Income tax provision | ($523) | $331 | $311 |
Income_Taxes_Schedule_of_Effec
Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Earnings (loss) from continuing operations before income taxes and equity earnings | ($155) | [1] | $411 | [2] | $363 | [3] | $230 | [4] | $287 | [5] | $320 | [6] | $204 | [7] | $213 | [8] | $849 | [1],[2],[3],[4] | $1,024 | [5],[6],[7],[8] | $1,458 |
Statutory U.S. income tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% | ||||||||||
Tax expense (benefit) using statutory U.S. income tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 297 | 358 | 510 | ||||||||||
State and local income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -4 | 11 | 16 | ||||||||||
Tax rate and permanent differences on non-U.S. earnings | ' | ' | ' | ' | ' | ' | ' | ' | -90 | -116 | -34 | ||||||||||
Net U.S. tax on non-U.S. dividends | ' | ' | ' | ' | ' | ' | ' | ' | -15 | 48 | 23 | ||||||||||
Tax benefit on manufacturing activities | ' | ' | ' | ' | ' | ' | ' | ' | -27 | -15 | -8 | ||||||||||
Non-deductible business expenses | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 7 | 6 | ||||||||||
Non-deductible goodwill | ' | ' | ' | ' | ' | ' | ' | ' | 147 | 34 | 0 | ||||||||||
Effective income tax rate reconciliation, tax settlement, domestic, amount | ' | ' | ' | ' | ' | ' | ' | ' | -770 | 0 | 0 | ||||||||||
Sales of non-strategic businesses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -195 | ||||||||||
Retirement plan dividends | ' | ' | ' | ' | ' | ' | ' | ' | -5 | -5 | -5 | ||||||||||
Effective income tax rate reconciliation, tax settlement, amount | ' | ' | ' | ' | ' | ' | ' | ' | -33 | 0 | 0 | ||||||||||
Tax credits | ' | ' | ' | ' | ' | ' | ' | ' | -23 | 0 | -7 | ||||||||||
Medicare subsidy | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 5 | 0 | ||||||||||
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -4 | 4 | 5 | ||||||||||
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ($523) | $331 | $311 | ||||||||||
Effective income tax rate | ' | ' | ' | ' | ' | ' | ' | ' | -62.00% | 32.00% | 21.00% | ||||||||||
[1] | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | ||||||||||||||||||||
[2] | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | ||||||||||||||||||||
[3] | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | ||||||||||||||||||||
[4] | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | ||||||||||||||||||||
[5] | Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | ||||||||||||||||||||
[6] | ncludes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | ||||||||||||||||||||
[7] | Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | ||||||||||||||||||||
[8] | Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Postretirement benefit accruals | $193 | $229 |
Pension obligations | 725 | 1,620 |
Alternative minimum and other tax credits | 515 | 752 |
Net operating loss carryforwards | 610 | 579 |
Compensation reserves | 281 | 242 |
Other | 284 | 406 |
Gross deferred income tax assets | 2,608 | 3,828 |
Less: valuation allowance | -413 | -400 |
Net deferred income tax asset | 2,195 | 3,428 |
Deferred tax liabilities, intangible assets | -304 | -378 |
Plants, properties and equipment | -2,919 | -3,126 |
Forestlands and related installment sales | -2,307 | -2,511 |
Gross deferred income tax liabilities | -5,530 | -6,015 |
Net deferred income tax liability | ($3,335) | ($2,587) |
Income_Taxes_Schedule_of_Unrec
Income Taxes (Schedule of Unrecognized Tax Benefits Rollforward) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Balance at January 1 | ($972) | ($857) | ($199) |
(Additions) reductions based on tax positions related to current year | -22 | 12 | -2 |
Additions for tax positions of prior years | -29 | -140 | -719 |
Reductions for tax positions of prior years | 824 | 6 | 29 |
Settlements | 26 | 2 | 2 |
Expiration of statutes of limitations | 11 | 7 | 25 |
Currency translation adjustment | 1 | -2 | 7 |
Balance at December 31 | ($161) | ($972) | ($857) |
Income_Taxes_Schedule_of_Compo1
Income Taxes (Schedule of Components of Net Provisions Related To Special Items) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Tax Special Items [Line Items] | ' | ' | ' |
Income tax provision (benefit) related to special items | ($924) | ($85) | ($266) |
Special Items [Member] | ' | ' | ' |
Tax Special Items [Line Items] | ' | ' | ' |
Income tax provision (benefit) related to special items | -151 | -104 | -293 |
Internal Restructuring [Member] | ' | ' | ' |
Tax Special Items [Line Items] | ' | ' | ' |
Income tax provision (benefit) related to special items | -4 | 14 | 24 |
Settlement with Taxing Authority [Member] | ' | ' | ' |
Tax Special Items [Line Items] | ' | ' | ' |
Income tax provision (benefit) related to special items | -770 | 0 | 5 |
Tax Adjustments, Settlements, Unusual Provisions [Member] | ' | ' | ' |
Tax Special Items [Line Items] | ' | ' | ' |
Income tax provision (benefit) related to special items | 1 | 0 | 2 |
IP UK Valuation Release [Member] | Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' |
Tax Special Items [Line Items] | ' | ' | ' |
Income tax provision (benefit) related to special items | 0 | 0 | -13 |
Medicare D Deferred Income Tax Write-Off [Member] | Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' |
Tax Special Items [Line Items] | ' | ' | ' |
Income tax provision (benefit) related to special items | 0 | 5 | 0 |
Andhra Pradesh Paper Mills Limited [Member] | Acquisition-related Costs [Member] | ' | ' | ' |
Tax Special Items [Line Items] | ' | ' | ' |
Income tax provision (benefit) related to special items | $0 | $0 | $9 |
Income_Taxes_Summary_of_Operat
Income Taxes (Summary of Operating Loss And Tax Credit Carryforwards) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss and tax credit carryforwards | $1,321 |
Two Thousand Fourteen Through Two Thousand Twenty Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss and tax credit carryforwards | 313 |
Two Thousand Twenty Four Through Two Thousand Thirty Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss and tax credit carryforwards | 154 |
Indefinite Life [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss and tax credit carryforwards | 854 |
U.S. Federal, Non-U.S. and State and Local Jurisdiction [Member] | General Business Tax Credit Carryforward [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax credit carryforwards | 602 |
U.S. Federal, Non-U.S. and State and Local Jurisdiction [Member] | Two Thousand Fourteen Through Two Thousand Twenty Three [Member] | General Business Tax Credit Carryforward [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax credit carryforwards | 117 |
U.S. Federal, Non-U.S. and State and Local Jurisdiction [Member] | Two Thousand Twenty Four Through Two Thousand Thirty Three [Member] | General Business Tax Credit Carryforward [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax credit carryforwards | 31 |
U.S. Federal, Non-U.S. and State and Local Jurisdiction [Member] | Indefinite Life [Member] | General Business Tax Credit Carryforward [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax credit carryforwards | 454 |
State and Local Jurisdiction [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards | 272 |
State and Local Jurisdiction [Member] | Capital Loss Carryforward [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax credit carryforwards | 23 |
State and Local Jurisdiction [Member] | Two Thousand Fourteen Through Two Thousand Twenty Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards | 152 |
State and Local Jurisdiction [Member] | Two Thousand Fourteen Through Two Thousand Twenty Three [Member] | Capital Loss Carryforward [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax credit carryforwards | 23 |
State and Local Jurisdiction [Member] | Two Thousand Twenty Four Through Two Thousand Thirty Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards | 120 |
State and Local Jurisdiction [Member] | Two Thousand Twenty Four Through Two Thousand Thirty Three [Member] | Capital Loss Carryforward [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax credit carryforwards | 0 |
State and Local Jurisdiction [Member] | Indefinite Life [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards | 0 |
State and Local Jurisdiction [Member] | Indefinite Life [Member] | Capital Loss Carryforward [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax credit carryforwards | 0 |
U.S. Federal and Non-U.S. Jurisdiction [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards | 424 |
U.S. Federal and Non-U.S. Jurisdiction [Member] | Two Thousand Fourteen Through Two Thousand Twenty Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards | 21 |
U.S. Federal and Non-U.S. Jurisdiction [Member] | Two Thousand Twenty Four Through Two Thousand Thirty Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards | 3 |
U.S. Federal and Non-U.S. Jurisdiction [Member] | Indefinite Life [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards | $400 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
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 | $7,000,000 | $25,000,000 | ($8,000,000) |
Income tax payments, net of refunds | 291,000,000 | 95,000,000 | 44,000,000 |
Deferred tax assets, other | 284,000,000 | 406,000,000 | ' |
Valuation allowance for deferred tax assets | 413,000,000 | 400,000,000 | ' |
Release of tax reserve | 13,000,000 | ' | ' |
Tax positions for which the ultimate benefits are highly certain, but for which there is uncertainty about the timing of such benefits | 1,000,000 | 14,000,000 | 9,000,000 |
Accrual for the payment of estimated interest and penalties associated with unrecognized tax benefits | 54,000,000 | 104,000,000 | ' |
Unrecognized tax benefits, decrease resulting from settlements with taxing authorities | 26,000,000 | 2,000,000 | 2,000,000 |
Income tax provision related to special items | -924,000,000 | -85,000,000 | -266,000,000 |
Income tax provision excluding the impact special items | 527,000,000 | 456,000,000 | 591,000,000 |
Income tax provision (benefit) excluding the impact of special items as a percentage of pre-tax earnings before equity earnings | 27.00% | 29.00% | 32.00% |
Undistributed earnings of foreign subsidiaries | 5,100,000,000 | 4,700,000,000 | 4,500,000,000 |
Income tax provision (benefit) | -523,000,000 | 331,000,000 | 311,000,000 |
FY 2013 [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Income tax provision (benefit) | 32,000,000 | ' | ' |
Settlement with Taxing Authority [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Tax positions for which the ultimate benefits are highly certain, but for which there is uncertainty about the timing of such benefits | 4,000,000 | ' | ' |
Domestic Tax Authority [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Unrecognized tax benefits, decrease resulting from settlements with taxing authorities | 844,000,000 | ' | ' |
Temple Inland [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Deferred tax assets, other | ' | 600,000,000 | ' |
Deferred tax liabilities, other | ' | $1,800,000,000 | ' |
Commitments_And_Contingent_Lia2
Commitments And Contingent Liabilities (Future Minimum Commitments Under Existing Non-Cancelable Operating Leases And Purchase Obligations) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Lease obligations, 2014 | $171 |
Lease obligations, 2015 | 133 |
Lease obligations, 2016 | 97 |
Lease obligations, 2017 | 74 |
Lease obligations, 2018 | 59 |
Lease obligations, Thereafter | 162 |
Purchase obligations, 2014 | 3,170 |
Purchase obligations, 2015 | 770 |
Purchase obligations, 2016 | 642 |
Purchase obligations, 2017 | 529 |
Purchase obligations, 2018 | 453 |
Purchase obligations, Thereafter | 2,404 |
Contractual Obligation, Due in Next Twelve Months | 3,341 |
Total, 2015 | 903 |
Total, 2016 | 739 |
Total, 2017 | 603 |
Total, 2018 | 512 |
Total, Thereafter | 2,566 |
Fiber supply agreements | $3,300 |
Commitments_And_Contingent_Lia3
Commitments And Contingent Liabilities (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||
Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Kleen Products Llc Versus Packaging Corp Of America [Member] | Kleen Products Llc Versus Packaging Corp Of America [Member] | Cass Lake Minnesota [Member] | Cass Lake Minnesota [Member] | Kalamazoo River Superfund Site [Member] | Harris County San Jacinto River Superfund Site [Member] | Bogalusa Louisiana [Member] | Bogalusa Louisiana [Member] | Bogalusa Louisiana [Member] | Bogalusa Louisiana [Member] | Minimum [Member] | Maximum [Member] | Biochemical oxygen demand (BOD) limits exceeded [Member] | Clean water act violation [Member] | |||||
Louisiana | Louisiana and Mississippi [Member] | Louisiana and Mississippi [Member] | Harris County San Jacinto River Superfund Site [Member] | Harris County San Jacinto River Superfund Site [Member] | Bogalusa Louisiana [Member] | Bogalusa Louisiana [Member] | ||||||||||||
Commitments and Contingent Liabilities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rent expense | ' | $215,000,000 | $231,000,000 | $205,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrual for environmental loss contingencies | ' | 94,000,000 | ' | ' | ' | ' | 51,000,000 | 46,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Environmental remediation on closed or formerly-owned facilities, recorded as liabilities in balance sheet | ' | 42,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, damages sought, value | ' | ' | ' | ' | ' | ' | ' | ' | 79,000,000 | ' | ' | ' | ' | ' | 50 | 25,000 | ' | ' |
Loss contingency, number of plaintiffs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ' | ' | ' | ' | ' | ' | ' |
Environmental remediation expense | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' | ' | 3,000,000 | ' |
Loss contingency accrual, provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 |
Loss contingency, new claims filed, number | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | 15 | 28 | 13 | ' | ' | ' | ' |
Loss contingency, number of defendants | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax examination, range of possible losses | ' | $29,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable_Interest_Entities_And2
Variable Interest Entities And Preferred Securities Of Subsidiaries (Activity Between Company And Entities) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Entities [Member] | ' | ' | ' | |||
Variable Interest Entity [Line Items] | ' | ' | ' | |||
Revenue | $45 | [1] | $49 | [1] | $49 | [1] |
Expense | 79 | [1] | 90 | [1] | 79 | [1] |
Cash receipts | 33 | [2] | 36 | [2] | 28 | [2] |
Cash payments | 84 | [3] | 87 | [3] | 79 | [3] |
2002 Financing Entities [Member] | ' | ' | ' | |||
Variable Interest Entity [Line Items] | ' | ' | ' | |||
Revenue | 0 | [4] | 0 | [4] | 2 | [4] |
Expense | 0 | [5] | 0 | [5] | 3 | [5] |
Cash receipts | 0 | [6] | 252 | [6] | 192 | [6] |
Cash payments | 0 | [7] | 159 | [7] | 244 | [7] |
2007 Financing Entities [Members] | ' | ' | ' | |||
Variable Interest Entity [Line Items] | ' | ' | ' | |||
Revenue | 27 | [8] | 28 | [8] | 0 | [8] |
Expense | 29 | [9] | 28 | [9] | 0 | [9] |
Cash receipts | 8 | [10] | 12 | [10] | 0 | [10] |
Cash payments | $21 | [11] | $22 | [11] | $0 | [11] |
[1] | The net expense related to the Company’s interest in the Entities is included in Interest expense, net in the accompanying consolidated statement of operations, as International Paper has and intends to effect its legal right to offset as discussed above. | |||||
[2] | The cash receipts are equity distributions from the Entities to International Paper. | |||||
[3] | The semi-annual payments are related to interest on the associated debt obligations discussed above. | |||||
[4] | The revenue is included in Equity earnings (loss), net of tax in the accompanying consolidated statement of operations. | |||||
[5] | The expense is included in Interest expense, net in the accompanying consolidated statement of operations. | |||||
[6] | The cash receipts are equity distributions from the 2002 financing entities to International Paper and cash receipts from the maturity of the 2002 Monetized Notes. | |||||
[7] | The cash payments include both interest and principal on the associated debt obligations. | |||||
[8] | The revenue is included in Interest expense, net in the accompanying consolidated statement of operations and includes approximately $19 million and $17 million for the years ended December 31, 2013 and 2012, respectively, of accretion income for the amortization of the purchase accounting adjustment of the Financial assets of special purpose entities. | |||||
[9] | The expense is included in Interest expense, net in the accompanying consolidated statement of operations and includes $7 million and $6 million for the years ended December 31, 2013 and 2012, respectively, of accretion expense for the amortization of the purchase accounting adjustment on the Nonrecourse financial liabilities of special purpose entities. | |||||
[10] | The cash receipts are interest received on the Financial assets of special purpose entities. | |||||
[11] | The cash payments are interest paid on Nonrecourse financial liabilities of special purpose entities. |
Variable_Interest_Entities_And3
Variable Interest Entities And Preferred Securities Of Subsidiaries (Narrative) (Details) (USD $) | 1 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 5 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||||||||||||||||||||||
Oct. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Dec. 31, 2007 | Mar. 31, 2011 | 31-May-11 | Oct. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2006 | Mar. 16, 2011 | Dec. 31, 2013 | Dec. 31, 2006 | Dec. 19, 2012 | Jun. 21, 2012 | Dec. 31, 2011 | 31-May-02 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 27, 2013 | Mar. 30, 2003 | Mar. 31, 2011 | Dec. 31, 2013 | Mar. 31, 2012 | Jan. 23, 2012 | Jun. 30, 2012 | Jun. 21, 2012 | Mar. 31, 2012 | Jan. 23, 2012 | Nov. 29, 2011 | Feb. 29, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Nov. 22, 2011 | Oct. 07, 2011 | |
acre | 2001 Financing Entities [Member] | 2002 Financing Entities [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | 2001 Financing Entities [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | 2002 Financing Entities [Member] | 2002 Financing Entities [Member] | 2002 Financing Entities [Member] | Preferred Securities Of Subsidiaries [Member] | Preferred Securities Of Subsidiaries [Member] | Preferred Securities Of Subsidiaries [Member] | Two Thousand Seven Monetized Notes [Member] | Two Thousand Seven Monetized Notes [Member] | Two Thousand Seven Monetized Notes [Member] | Two Thousand Seven Monetized Notes [Member] | Two Thousand Seven Monetized Notes [Member] | Societe Generale SA [Member] | Societe Generale SA [Member] | Llyods TSB Bank Plc [Member] | Royal Bank Of Scotland Group Plc [Member] | Royal Bank Of Scotland Group Plc [Member] | Royal Bank Of Scotland Group Plc [Member] | Royal Bank Of Scotland Group Plc [Member] | Royal Bank Of Scotland Group Plc [Member] | ||||||
Class B Interest In Entities [Member] | Class B Interest In Entities [Member] | Class B Interest In Entities [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | acre | B N P Paribas [Member] | B N P Paribas [Member] | Llyods TSB Bank Plc [Member] | 2001 Financing Entities [Member] | Societe Generale SA [Member] | Societe Generale SA [Member] | Barclays Private Limited Company [Member] | Barclays Private Limited Company [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | Timber Notes [Member] | ||||||||||||||||||||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forestlands average sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of consideration received | ' | ' | ' | ' | ' | ' | ' | ' | $2,380,000,000 | $4,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution of Class A interests in the Borrower Entities to other newly formed entities in December 2006 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution of International Paper promissory notes to other newly formed entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interests held in entities in December 2006 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit downgrade period of replacement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Entities acquired International Paper debt obligations for cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest, offset against related debt obligations for one of the entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
International Paper debt obligations held by the Entities | ' | 5,300,000,000 | ' | ' | ' | ' | ' | ' | ' | 5,200,000,000 | 5,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | 8,827,000,000 | 9,696,000,000 | ' | ' | ' | ' | ' | ' | ' | 67,000,000 | 79,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term debt | ' | 661,000,000 | 444,000,000 | ' | ' | ' | ' | ' | ' | ' | 79,000,000 | ' | ' | 38,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit issued | ' | 2,380,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 707,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 506,000,000 | ' | 500,000,000 | ' | 666,000,000 | 1,200,000,000 | ' | ' | 797,000,000 | 842,000,000 | 1,600,000,000 |
Replacement fees incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | 6,000,000 | ' | 5,000,000 | ' | ' | 5,000,000 | 5,000,000 | ' | ' | ' |
Number of days notice to terminate replacement waiver | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
The percent of letters of credit supporting Timber Notes and Monetized Note that are cash collateralized | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term notes maturity term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transferred notes (the Monetized Notes) and cash to entities in exchange for preferred interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of consideration received from sale of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 499,000,000 | ' | ' | ' | ' | ' | ' | 252,000,000 | 191,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of preferred interest from external third party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of interest in financing entities | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of capital distribution | ' | ' | ' | ' | ' | ' | ' | 51,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Timberland acreage sales | 1,550,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' | 2,090,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes receivable, fair value disclosure | ' | 2,620,000,000 | 2,210,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | 2,140,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial liabilities | ' | ' | ' | ' | 2,030,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, fair value | ' | 2,490,000,000 | 2,120,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion income for amortization of purchase accounting adjustment for financial assets | ' | 19,000,000 | 17,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion expense for amortization of purchase accounting adjustment, financial liabiities | ' | 7,000,000 | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred securities issued to a private investor with future dividend payments based on LIBOR in March 2003 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forestlands acres held in United States initially by Southeast timber | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions under preferred securities | ' | $1,000,000 | $6,000,000 | $5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_And_Lines_Of_Credit_Debt_
Debt And Lines Of Credit (Debt Extinguishment) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Extinguishment of Debt [Line Items] | ' | ' | ' | |||
Debt reductions | $574 | [1] | $1,272 | [1] | $129 | [1] |
Pre-tax early debt extinguishment costs | $25 | [2] | $48 | [2] | $32 | [2] |
[1] | Reductions related to notes with interest rates ranging from 1.625% to 9.375% with original maturities from 2012 to 2041 for the years ended December 31, 2013, 2012 and 2011. | |||||
[2] | Amounts are included in Restructuring and other charges in the accompanying consolidated statements of operations. |
Debt_And_Lines_Of_Credit_Debt_1
Debt And Lines Of Credit Debt and Lines of Credit (Debt Extinguishment Parenthetical) (Details) (Early Debt Extinguishment Costs [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Early Debt Extinguishment Costs [Member] | ' |
Extinguishment of Debt [Line Items] | ' |
Debt instrument, interest rate, stated percentage rate range, minimum | 1.63% |
Debt instrument, interest rate, stated percentage rate range, maximum | 9.38% |
Original maturity date range, minimum | '2012 |
Original maturity date range, maximum | '2041 |
Debt_And_Lines_Of_Credit_Summa
Debt And Lines Of Credit (Summary Of Long-Term Debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||
In Millions, unless otherwise specified | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Eight Point Seven Percentage To Ten Percentage Notes Due Two Thousand Thirty Eight [Member] | Eight Point Seven Percentage To Ten Percentage Notes Due Two Thousand Thirty Eight [Member] | Nine Point Three Seven Five Percentage Note Due Two Thousand Nineteen [Member] | Nine Point Three Seven Five Percentage Note Due Two Thousand Nineteen [Member] | Seven Point Nine Five Percentage Debenture Due To Thousand Eighteen [Member] | Seven Point Nine Five Percentage Debenture Due To Thousand Eighteen [Member] | Seven Point Five Percentage Notes Due Two Thousand Twenty One [Member] | Seven Point Five Percentage Notes Due Two Thousand Twenty One [Member] | Seven Point Four Percentage Debenture Due Two Thousand Fourteen [Member] | Seven Point Four Percentage Debenture Due Two Thousand Fourteen [Member] | Seven Point Three Percentage Notes Due Two Thousand Thirty Nine [Member] | Seven Point Three Percentage Notes Due Two Thousand Thirty Nine [Member] | Six Point Eight Seven Five Percentage Notes Due Two Thousand Twenty Three To Two Thousand Twenty Nine [Member] | Six Point Eight Seven Five Percentage Notes Due Two Thousand Twenty Three To Two Thousand Twenty Nine [Member] | Six Point Six Five Percentage Notes Due Two Thousand Thirty Seven [Member] [Member] | Six Point Six Five Percentage Notes Due Two Thousand Thirty Seven [Member] [Member] | Six Point Four Percentage To Seven Point Seven Five Percentage Debenture Due Two Thousand Twenty Five To Two Thousand Twenty Seven [Member] | Six Point Four Percentage To Seven Point Seven Five Percentage Debenture Due Two Thousand Twenty Five To Two Thousand Twenty Seven [Member] | Six Point Three Seven Five Percentage To Six Point SIx Two Five Percentage Debenture Due Two Thousand Sixteen To Two Thousand Eighteen [Member] | Six Point Three Seven Five Percentage To Six Point SIx Two Five Percentage Debenture Due Two Thousand Sixteen To Two Thousand Eighteen [Member] | Six Point Zero Percentage Notes Due Two Thousand And Forty One [Member] | Six Point Zero Percentage Notes Due Two Thousand And Forty One [Member] | Five Point Two Five Percentage To Five Point Five Percentage Notes Due Two Thousand Fourteen To Two Thousand Sixteen [Member] | Five Point Two Five Percentage To Five Point Five Percentage Notes Due Two Thousand Fourteen To Two Thousand Sixteen [Member] | Four Point Seven Five Percentage Notes Due Two Thousand And Twenty Two [Member] | Four Point Seven Five Percentage Notes Due Two Thousand And Twenty Two [Member] | Variable Rate [Domain] | Variable Rate [Domain] | Municipal Bonds [Member] | Municipal Bonds [Member] | Short-term Debt [Member] | Short-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | |||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt | ' | ' | $2,140 | ' | ' | $264 | $263 | $848 | $846 | $1,429 | $1,462 | $999 | $999 | $303 | $0 | $721 | $721 | $130 | $130 | $4 | $4 | $142 | $142 | $364 | $373 | $585 | $585 | $657 | $701 | $899 | $899 | $269 | [1] | $314 | [1] | $1,487 | [2] | $1,812 | [2] | ' | ' | $304 | [3] | $331 | [3] | ||||
Short-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 386 | [4] | 255 | [4] | ' | ' | ||||||||
Total debt | 9,488 | [5] | 10,140 | [5] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Less: current maturities | -661 | -444 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Long-term debt | $8,827 | $9,696 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | 15-Jun-38 | 15-Jun-38 | 15-May-19 | 15-May-19 | 15-Jun-18 | 15-Jun-18 | 15-Aug-21 | 15-Aug-21 | 15-Jan-14 | ' | 15-Nov-39 | 15-Nov-39 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt Instrument Original Maturity Date Minimum | ' | ' | ' | '2010 | '2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2023 | '2023 | ' | ' | '2025 | '2025 | ' | ' | ' | ' | '2014 | '2014 | ' | ' | '2013 | '2012 | '2013 | '2012 | ' | ' | ' | ' | ||||||||||
Debt Instrument Original Maturity Date Maximum | ' | ' | ' | '2039 | '2039 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2029 | '2029 | '2037 | '2037 | '2027 | '2027 | ' | ' | ' | ' | '2016 | '2016 | ' | ' | '2017 | '2017 | '2035 | '2035 | ' | ' | ' | ' | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | 9.38% | 9.38% | 7.95% | 7.95% | 7.50% | 7.50% | 7.40% | ' | ' | 7.30% | 6.88% | 6.88% | 6.65% | 6.65% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | ' | ' | ' | 1.63% | 4.00% | 8.70% | 8.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.40% | 6.40% | ' | ' | 6.00% | 6.00% | 5.25% | 5.25% | 4.75% | 4.75% | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Long Term Debt, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2041 | '2041 | ' | ' | '2022 | '2022 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | ' | ' | ' | 9.38% | 9.38% | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.75% | 7.75% | ' | ' | ' | ' | 5.50% | 5.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
[1] | The weighted average interest rate on these notes was 2.6% in 2013 and 2.6% in 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The weighted average interest rate on these bonds was 5.5% in 2013 and 5.6% in 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Includes $41 million at December 31, 2013 and $61 million at December 31, 2012, related to the unamortized gain on interest rate swap unwinds (see Note 14). | ||||||||||||||||||||||||||||||||||||||||||||||||
[4] | The weighted average interest rate was 2.8% in 2013 and 2.2% in 2012. Includes $93 million at December 31, 2013 and $29 million at December 31, 2012 related to non-U.S. denominated borrowings with a weighted average interest rate of 5.8% in 2013 and 5.6% in 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||
[5] | The fair market value was approximately $10.7 billion at December 31, 2013 and $12.3 billion at December 31, 2012. |
Debt_And_Lines_Of_Credit_Debt_2
Debt And Lines Of Credit Debt and Lines of Credit (Summary of Long-Term Debt Parenthetical) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||
Variable Rate [Domain] | Variable Rate [Domain] | Six Point Zero Percentage Notes Due Two Thousand And Forty One [Member] | Six Point Zero Percentage Notes Due Two Thousand And Forty One [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Short-term Debt [Member] | Short-term Debt [Member] | Foreign Corporate Debt Securities [Member] | Foreign Corporate Debt Securities [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Five Point Two Five Percentage To Five Point Five Percentage Notes Due Two Thousand Fourteen To Two Thousand Sixteen [Member] | Five Point Two Five Percentage To Five Point Five Percentage Notes Due Two Thousand Fourteen To Two Thousand Sixteen [Member] | Four Point Seven Five Percentage Notes Due Two Thousand And Twenty Two [Member] | Four Point Seven Five Percentage Notes Due Two Thousand And Twenty Two [Member] | Interest Rate Swap Unwind [Member] | Interest Rate Swap Unwind [Member] | ||||||||||
Long-term Debt [Member] | Long-term Debt [Member] | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Long Term Debt, Maturity Date | ' | ' | ' | ' | ' | '2041 | '2041 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2022 | '2022 | ' | ' | ||||||
Debt instrument, interest rate during period | ' | ' | ' | 2.60% | 2.60% | ' | ' | 5.50% | 5.60% | 2.80% | 2.20% | 5.80% | 5.60% | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Long-term debt | ' | ' | $2,140,000,000 | $269,000,000 | [1] | $314,000,000 | [1] | $585,000,000 | $585,000,000 | $1,487,000,000 | [2] | $1,812,000,000 | [2] | ' | ' | $93,000,000 | $29,000,000 | $304,000,000 | [3] | $331,000,000 | [3] | $657,000,000 | $701,000,000 | $899,000,000 | $899,000,000 | ' | ' |
Deferred gain (loss) on discontinuation of interest rate fair value hedge | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,000,000 | 61,000,000 | ||||||
Debt Instrument, Fair Value Disclosure | $10,700,000,000 | $12,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
[1] | The weighted average interest rate on these notes was 2.6% in 2013 and 2.6% in 2012. | ||||||||||||||||||||||||||
[2] | The weighted average interest rate on these bonds was 5.5% in 2013 and 5.6% in 2012. | ||||||||||||||||||||||||||
[3] | Includes $41 million at December 31, 2013 and $61 million at December 31, 2012, related to the unamortized gain on interest rate swap unwinds (see Note 14). |
Debt_And_Lines_Of_Credit_Narra
Debt And Lines Of Credit (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Feb. 29, 2012 | Feb. 29, 2012 | Dec. 31, 2013 | Aug. 31, 2016 | Dec. 31, 2013 | Jan. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Six Point Zero Percentage Notes Due Two Thousand And Forty One [Member] | Six Point Zero Percentage Notes Due Two Thousand And Forty One [Member] | 1.38% Variable Rate Term Loan [Member] | 1.38% Variable Rate Term Loan [Member] | 1.75% Variable Rate Term Loan [Member] | Credit Facility Agreements [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Receivables Securitization Program [Member] | Receivables Securitization Program [Member] | Five Point Two Five Percentage To Five Point Five Percentage Notes Due Two Thousand Fourteen To Two Thousand Sixteen [Member] | Five Point Two Five Percentage To Five Point Five Percentage Notes Due Two Thousand Fourteen To Two Thousand Sixteen [Member] | Four Point Seven Five Percentage Notes Due Two Thousand And Twenty Two [Member] | Four Point Seven Five Percentage Notes Due Two Thousand And Twenty Two [Member] | Variable Rate [Domain] | Variable Rate [Domain] | Municipal Bonds [Member] | Municipal Bonds [Member] | Short-term Debt [Member] | Short-term Debt [Member] | Foreign Corporate Debt Securities [Member] | Foreign Corporate Debt Securities [Member] | ||
Schedule of Debt Activity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Term Debt, Maturity Date | ' | '2041 | '2041 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2022 | '2022 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest rate during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.60% | 2.60% | 5.50% | 5.60% | 2.80% | 2.20% | 5.80% | 5.60% |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | 1.38% | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt, face amount | ' | ' | ' | ' | $1,200,000,000 | $200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date, range low | ' | ' | ' | ' | ' | 13-Feb-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of loan | ' | ' | ' | 1,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt and capital lease obligations | 5,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal payment of debt obligations to non-consolidated variable interest entities in 2016 | 5,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt obligations offset against Class B interests | 5,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturities of long-term debt, 2013 | 661,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturities of long-term debt, 2014 | 498,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturities of long-term debt, 2015 | 571,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturities of long-term debt, 2016 | 285,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturities of long-term debt, 2017 | 1,837,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractually committed credit facilities | ' | ' | ' | ' | ' | ' | 2,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facilities available | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, maturity date | ' | ' | ' | ' | ' | ' | ' | 26-Aug-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement facility fee | ' | ' | ' | ' | ' | ' | ' | ' | 0.18% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial paper-based financings agreement value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available commercial paper-based financings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $958,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | ' | 6.00% | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | 5.25% | 5.25% | 4.75% | 4.75% | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | 5.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Original Maturity Date Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2014 | '2014 | ' | ' | '2013 | '2012 | '2013 | '2012 | ' | ' | ' | ' |
Debt Instrument Original Maturity Date Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2016 | '2016 | ' | ' | '2017 | '2017 | '2035 | '2035 | ' | ' | ' | ' |
Derivatives_and_Hedging_Activi2
Derivatives and Hedging Activities (Schedule of Notional Amounts of Financial Instruments) (Details) | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |||||||
In Millions, unless otherwise specified | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Embedded Derivative [Member] | Embedded Derivative [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | |||||||
USD ($) | Foreign Exchange Contracts To Sell Indian Rupee For US Dollar [Member] | Foreign Exchange Contracts To Sell Indian Rupee For US Dollar [Member] | Foreign Exchange Contracts To Sell Thai Bhat For US dollar [Member] | Foreign Exchange Contracts To Sell Thai Bhat For US dollar [Member] | Foreign Exchange Contracts To Sell U S Dollar For Turkish lira [Member] | Foreign Exchange Contracts To Sell U S Dollar For Turkish lira [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Zero Cost Collar Derivative [Member] | Zero Cost Collar Derivative [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | ||||||||
Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Zero Cost Collar To Sell US Dollar For Brazilian Real [Member] | Zero Cost Collar To Sell US Dollar For Brazilian Real [Member] | Foreign Exchange Contracts To Sell Brazilian Real For U S Dollar [Member] | Foreign Exchange Contracts To Sell Brazilian Real For U S Dollar [Member] | Foreign Exchange Contracts To Sell British Pounds For Brazilian Real [Member] | Foreign Exchange Contracts To Sell British Pounds For Brazilian Real [Member] | Foreign Exchange Contracts To Sell European Euro For Brazilian Real [Member] | Foreign Exchange Contracts To Sell European Euro For Brazilian Real [Member] | Foreign Exchange Contracts To Sell European Euro For Polish Zloty [Member] | Foreign Exchange Contracts To Sell European Euro For Polish Zloty [Member] | Foreign Exchange Contracts To Sell US Dollar For Brazilian Real [Member] | Foreign Exchange Contracts To Sell US Dollar For Brazilian Real [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | |||||||||
INR | INR | THB | THB | USD ($) | USD ($) | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | USD ($) | USD ($) | |||||||||||||
USD ($) | USD ($) | BRL | BRL | GBP (£) | GBP (£) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | USD ($) | USD ($) | |||||||||||||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Derivative notional amount | $150 | 157 | 140 | 0 | 261 | $0 | $56 | $0 | $150 | [1] | $0 | $150 | $18 | [2] | $18 | 502 | [2] | 0 | £ 17 | [2] | £ 13 | € 27 | [2] | € 13 | € 252 | [2] | € 149 | $290 | [2] | $238 | $175 | $0 |
[1] | Includes $150 million floating-to-fixed interest rate swap notional to offset the embedded derivative. | |||||||||||||||||||||||||||||||
[2] | These contracts had maturities of three years or less as of December 31, 2013. |
Derivatives_and_Hedging_Activi3
Derivatives and Hedging Activities Derivatives and Hedging Activities (Schedule of Notional Amounts of Financial Instruments) (Parenthetical) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] |
Derivative [Line Items] | ' | ' |
Derivative notional amount | ' | $150 |
Maturity period of cash flow hedges, maximum (in years) | 'three years | ' |
Derivatives_and_Hedging_Activi4
Derivatives and Hedging Activities (Gains Losses Recognized In Accumulated Other Comprehensive Income AOCI Net Of Tax Related To Derivative Instruments) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (loss) recognized in AOCI on derivatives (effective portion) | $0 | $15 | ($43) |
Designated as Hedging Instrument [Member] | Other Comprehensive Income (Loss) [Member] | Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (loss) recognized in AOCI on derivatives (effective portion) | 0 | 16 | -39 |
Designated as Hedging Instrument [Member] | Other Comprehensive Income (Loss) [Member] | Cash Flow Hedging [Member] | Commodity Contract [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (loss) recognized in AOCI on derivatives (effective portion) | 0 | 0 | 2 |
Designated as Hedging Instrument [Member] | Other Comprehensive Income (Loss) [Member] | Cash Flow Hedging [Member] | Natural Gas Swap Contracts [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (loss) recognized in AOCI on derivatives (effective portion) | $0 | ($1) | ($6) |
Derivatives_and_Hedging_Activi5
Derivatives and Hedging Activities (Gains And Losses Recognized In Consolidated Statement Of Operations On Qualifying And Non-Qualifying Financial Instruments) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Gain (loss) reclassified from AOCI into income (effective portion) | $7 | ($22) | ($8) | |
Amount of gain (loss) recognized in income, total | 19 | 14 | -14 | |
Interest Income Expense Member [Member] | Debt [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Change in unrealized gain (loss) on hedged item in fair value hedge | 1 | 0 | 10 | |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Amount of gain (loss) recognized in income, total | 0 | 0 | 0 | |
Designated as Hedging Instrument [Member] | Interest Income Expense Member [Member] | Fair Value Hedging [Member] | Interest Rate Swap [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Change in unrealized gain (loss) on fair value hedging instruments | -1 | 0 | -10 | |
Designated as Hedging Instrument [Member] | Cost Of Products Sold [Member] | Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Gain (loss) reclassified from AOCI into income (effective portion) | 7 | -15 | 8 | |
Designated as Hedging Instrument [Member] | Cost Of Products Sold [Member] | Cash Flow Hedging [Member] | Commodity Contract [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Gain (loss) reclassified from AOCI into income (effective portion) | 0 | 0 | 4 | |
Designated as Hedging Instrument [Member] | Cost Of Products Sold [Member] | Cash Flow Hedging [Member] | Natural Gas Swap Contracts [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Gain (loss) reclassified from AOCI into income (effective portion) | 0 | -7 | -20 | |
Not Designated as Hedging Instrument [Member] | Interest Income Expense Member [Member] | Embedded Derivative [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Amount of gain (loss) recognized in income, total | -1 | -4 | -3 | |
Not Designated as Hedging Instrument [Member] | Interest Income Expense Member [Member] | Interest Rate Swap [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Amount of gain (loss) recognized in income, total | 21 | 22 | 3 | |
Not Designated as Hedging Instrument [Member] | Cost Of Products Sold [Member] | Foreign Exchange Forward [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Amount of gain (loss) recognized in income, total | -5 | 0 | -14 | [1] |
Not Designated as Hedging Instrument [Member] | Cost Of Products Sold [Member] | Energy Related Derivative [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |
Amount of gain (loss) recognized in income, total | $4 | ($4) | $0 | |
[1] | Premium costs of $5 million in connection with the acquisition of APPM are included in Restructuring and other charges in the accompanying consolidated statement of operations. |
Derivatives_and_Hedging_Activi6
Derivatives and Hedging Activities Derivatives and Hedging Activities (Gains And Losses Recognized In Consoldiated Statement Of Operations On Qualifying And Non-Qualifying Financial Instruments (Parenthetical) (Details) (Restructuring And Other Charges [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2011 |
Restructuring And Other Charges [Member] | ' |
Derivative [Line Items] | ' |
Derivative, cost of hedge | $5 |
Derivatives_and_Hedging_Activi7
Derivatives and Hedging Activities Derivatives and Hedging Activities (Schedule of Interest Rate Derivative Activity (Details) (Interest Rate Swap [Member], USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional amount of derivative instrument, undesignated | $0 | $0 | $0 | $0 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional amount of derivative instrument, issued | 175 | 0 | 175 | 0 |
Notional amount of derivative instrument, terminated | $0 | $0 | $0 | $0 |
Derivatives_and_Hedging_Activi8
Derivatives and Hedging Activities (Impact Of Derivative Instruments In Consolidated Balance Sheet) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | $34 | $23 | ||
Derivative assets | 39 | 9 | ||
Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | 34 | 21 | ||
Derivative assets | 37 | 7 | ||
Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | 0 | 2 | ||
Derivative assets | 2 | 2 | ||
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | 0 | 0 | ||
Derivative assets | 0 | 1 | [1] | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | 0 | 1 | [2] | |
Derivative assets | 0 | 0 | ||
Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | 0 | 1 | [2] | |
Derivative assets | 2 | [1] | 0 | |
Embedded Derivative [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | 0 | 0 | ||
Derivative assets | 0 | 1 | [1] | |
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | 33 | [3] | 21 | [4] |
Derivative assets | 37 | [5] | 7 | [6] |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liabilities | 1 | [7] | 0 | |
Derivative assets | $0 | $0 | ||
[1] | Included in Other current assets in the accompanying consolidated balance sheet. | |||
[2] | Included in Other accrued liabilities in the accompanying consolidated balance sheet. | |||
[3] | Includes $24 million recorded in Other accrued liabilities and $9 million recorded in Other liabilities in the accompanying consolidated balance sheet. | |||
[4] | Includes $20 million recorded in Other accrued liabilities and $1 million recorded in Other liabilities in the accompanying consolidated balance sheet. | |||
[5] | Includes $23 million recorded in Other current assets and $14 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. | |||
[6] | Includes $3 million recorded in Other current assets and $4 million recorded in Deferred charges and other assets in the accompanying consolidated balance sheet. | |||
[7] | Included in Other liabilities in the accompanying consolidated balance sheet. |
Derivatives_and_Hedging_Activi9
Derivatives and Hedging Activities Derivatives and Hedging Activities (Impact of Derivative Instruments in Consolidated Balance Sheet) (Parenthetical) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | $39 | $9 |
Derivative liabilities | 34 | 23 |
Other Accrued Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities | 24 | 20 |
Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities | 9 | 1 |
Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 23 | 3 |
Deferred charges and other assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 14 | 4 |
Energy Related Derivative [Member] | Other Accrued Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities | ' | 1 |
Energy Related Derivative [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 2 | ' |
Embedded Derivative [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | ' | 1 |
Foreign Exchange Forward [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | ' | 1 |
Interest Rate Swap [Member] | Other Accrued Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities | ' | 1 |
Interest Rate Swap [Member] | Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities | $1 | ' |
Recovered_Sheet2
Derivatives and Hedging Activities (Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' |
Gain/(loss) recorded to AOCI after tax, that is expected to be reclassified to earnings | $2 | ' |
Fair values of derivative instruments containing credit risk-related contingent features in a net liability position | 3 | 18 |
Collateral threshold based on company's current credit rating | $10 | ' |
Capital_Stock_Rollforward_Of_C
Capital Stock (Rollforward Of Common Stock Activity) (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Class of Stock [Line Items] | ' | ' | ' |
Common stock, ending balance | 447,200 | 439,900 | ' |
Treasury stock, ending balance | 10,868 | 13 | ' |
Common Stock Issued [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Common stock, beginning balance | 439,894 | 438,872 | 438,871 |
Issuance of stock for various plans, net | 7,328 | 1,022 | 1 |
Repurchase of stock, common shares | 0 | 0 | 0 |
Common stock, ending balance | 447,222 | 439,894 | 438,872 |
Treasury Stock [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Treasury stock, beginning balance | 13 | 1,921 | 1,234 |
Issuance of stock for various plans, net | -533 | -2,994 | -326 |
Repurchase of stock, treasury stock | 11,388 | 1,086 | 1,013 |
Treasury stock, ending balance | 10,868 | 13 | 1,921 |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Class of Stock [Line Items] | ' | ' |
Common stock, authorized shares | 990,850,000 | 990,850,000 |
Common stock, par value | $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 |
Retirement_Plans_Schedule_Of_N
Retirement Plans (Schedule Of Net Funded Status) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Curtailments | ($7) | ' | ' |
U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | -188 | -152 | -121 |
Interest cost | -576 | -604 | -544 |
Actuarial (gain) loss | -485 | -307 | -212 |
Fair value of plan assets, January 1 | 10,111 | ' | ' |
Fair value of plan assets, December 31 | -10,706 | 10,111 | ' |
Funded status, December 31 | -2,197 | -4,090 | ' |
U.S. Plans [Member] | Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefits paid | -742 | -802 | ' |
Fair value of plan assets, January 1 | 10,111 | 8,185 | ' |
Actual return on plan assets | 1,283 | 1,183 | ' |
Company contributions | 59 | 139 | ' |
Settlements | -5 | 0 | ' |
Acquisitions | 0 | 1,406 | ' |
Effect of foreign currency exchange rate movements | 0 | 0 | ' |
Fair value of plan assets, December 31 | 10,706 | 10,111 | ' |
Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | -4 | -3 | -2 |
Interest cost | -11 | -12 | -12 |
Actuarial (gain) loss | -1 | 0 | 0 |
Benefits paid | -8 | -8 | ' |
Fair value of plan assets, January 1 | 171 | 155 | ' |
Actual return on plan assets | 15 | 18 | ' |
Company contributions | 8 | 8 | ' |
Settlements | -4 | -3 | ' |
Acquisitions | 0 | 0 | ' |
Effect of foreign currency exchange rate movements | -1 | 1 | ' |
Fair value of plan assets, December 31 | 181 | 171 | 155 |
Funded status, December 31 | -47 | -52 | ' |
Benefit Obligation [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation, January 1 | 14,201 | 10,555 | ' |
Service cost | 188 | 152 | ' |
Interest cost | 576 | 604 | ' |
Curtailments | -14 | 0 | ' |
Settlements | -5 | 0 | ' |
Actuarial (gain) loss | -1,309 | 1,923 | ' |
Acquisitions | 0 | 1,749 | ' |
Plan amendments | 0 | 20 | ' |
Special termination benefits | 8 | 0 | ' |
Benefits paid | -742 | -802 | ' |
Effect of foreign currency exchange rate movements | 0 | 0 | ' |
Benefit obligation, December 31 | 12,903 | 14,201 | ' |
Benefit Obligation [Member] | Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation, January 1 | 223 | 183 | ' |
Service cost | 4 | 3 | ' |
Interest cost | 11 | 12 | ' |
Curtailments | 0 | 0 | ' |
Settlements | -4 | -3 | ' |
Actuarial (gain) loss | 0 | 30 | ' |
Acquisitions | 3 | 3 | ' |
Plan amendments | 0 | 0 | ' |
Special termination benefits | 0 | 0 | ' |
Benefits paid | -8 | -8 | ' |
Effect of foreign currency exchange rate movements | -1 | 3 | ' |
Benefit obligation, December 31 | $228 | $223 | ' |
Retirement_Plans_Schedule_Of_A
Retirement Plans (Schedule Of Amounts Recognized In Balance Sheet) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Non-current liability | $2,205 | $4,112 |
U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Non-current asset | 0 | 0 |
Current liability | -46 | -32 |
Non-current liability | -2,151 | -4,058 |
Amounts recognized in the consolidated balance sheet | -2,197 | -4,090 |
Non-U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Non-current asset | 9 | 4 |
Current liability | -2 | -2 |
Non-current liability | -54 | -54 |
Amounts recognized in the consolidated balance sheet | ($47) | ($52) |
Retirement_Plans_Schedule_Of_A1
Retirement Plans (Schedule Of Amounts In Accumulated Other Comprehensive Income) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Prior service cost | $107 | $144 |
Net actuarial loss | 3,285 | 5,640 |
Amounts recognized in accumulated other comprehensive income (pre-tax) | 3,392 | 5,784 |
Non-U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Prior service cost | 0 | 0 |
Net actuarial loss | 29 | 34 |
Amounts recognized in accumulated other comprehensive income (pre-tax) | $29 | $34 |
Retirement_Plans_Pension_Benef
Retirement Plans (Pension Benefit Adjustments Recognized In Other Comprehensive (Loss) Income) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
U.S. Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Current year actuarial (gain) loss | ($1,854) |
Amortization of actuarial loss | -485 |
Current year prior service cost | 0 |
Amortization of prior service cost | -34 |
Curtailments | -19 |
Total recognized in other comprehensive income | -2,392 |
Non-U.S. Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Current year actuarial (gain) loss | -4 |
Amortization of actuarial loss | -1 |
Current year prior service cost | 0 |
Amortization of prior service cost | 0 |
Curtailments | 0 |
Total recognized in other comprehensive income | ($5) |
Retirement_Plans_Pension_Plans
Retirement Plans (Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | $12,903 | $14,201 |
Accumulated benefit obligation | 12,560 | 13,772 |
Fair value of plan assets | 10,706 | 10,111 |
Non-U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | 181 | 200 |
Accumulated benefit obligation | 168 | 188 |
Fair value of plan assets | $125 | $143 |
Retirement_Plans_Net_Periodic_
Retirement Plans (Net Periodic Pension Expense For Qualified And Nonqualified U.S. Defined Benefit Plans) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $188 | $152 | $121 |
Interest cost | 576 | 604 | 544 |
Expected return on plan assets | -738 | -753 | -713 |
Actuarial (gain) loss | 485 | 307 | 212 |
Amortization of prior service cost | 34 | 32 | 31 |
Settlement gain | 0 | 0 | 0 |
Net periodic pension expense | 545 | 342 | 195 |
Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 4 | 3 | 2 |
Interest cost | 11 | 12 | 12 |
Expected return on plan assets | -11 | -12 | -12 |
Actuarial (gain) loss | 1 | 0 | 0 |
Amortization of prior service cost | 0 | 0 | 0 |
Settlement gain | 0 | 0 | -1 |
Net periodic pension expense | $5 | $3 | $1 |
Retirement_Plans_Major_Actuari
Retirement Plans (Major Actuarial Assumptions Used In Determining Benefit Obligations And Net Periodic Pension Cost For Defined Benefit Plans) (Details) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
U.S. Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Actuarial assumptions used to determine benefit obligations, Discount rate | 4.90% | 4.10% | 5.10% | |
Actuarial assumptions used to determine benefit obligations, Rate of compensation increase | 3.75% | 3.75% | 3.75% | |
Discount rate | 4.10% | 5.10% | 5.60% | |
Actuarial assumptions used to determine net periodic pension cost, Expected long-term rate of return on plan assets | 8.00% | [1] | 8.00% | 8.25% |
Actuarial assumptions used to determine net periodic pension cost, Rate of compensation increase | 3.75% | 3.75% | 3.75% | |
Non-U.S. Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Actuarial assumptions used to determine benefit obligations, Discount rate | 5.07% | 4.96% | 5.98% | |
Actuarial assumptions used to determine benefit obligations, Rate of compensation increase | 4.13% | 3.17% | 3.12% | |
Discount rate | 4.96% | 5.98% | 6.01% | |
Actuarial assumptions used to determine net periodic pension cost, Expected long-term rate of return on plan assets | 7.04% | 7.62% | 7.79% | |
Actuarial assumptions used to determine net periodic pension cost, Rate of compensation increase | 3.17% | 3.12% | 3.07% | |
[1] | Represents the expected rate of return for International Paper's qualified pension plan. The weighted average rate for the Temple-Inland Retirement Plan was |
Retirement_Plans_Retirement_Pl
Retirement Plans Retirement Plans (Major Actuarial Assumptions Used In Determining Benefit Obligation Parenthetical) (Details) (Temple Inland Inc [Member]) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Temple Inland Inc [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Actuarial assumptions used to determine net periodic pension cost, Expected long-term rate of return on plan assets | 6.16% | 5.70% |
Retirement_Plans_Effect_Of_A_2
Retirement Plans (Effect Of A 25 Basis Point Decrease On Net Pension Expense) (Details) (U.S. Plans [Member], USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
U.S. Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Discount rate | $35 |
Expected long-term rate of return on plan assets | 25 |
Rate of compensation increase | ($5) |
Retirement_Plans_Pension_Alloc
Retirement Plans (Pension Allocations By Type Of Fund And Target Allocations) (Details) (U.S. Plans [Member]) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity accounts | 100.00% | 100.00% |
Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity accounts | 49.00% | 41.00% |
Equity accounts, minimum | 42.00% | ' |
Equity accounts, maximum | 53.00% | ' |
Fixed Income Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity accounts | 32.00% | 38.00% |
Equity accounts, minimum | 30.00% | ' |
Equity accounts, maximum | 40.00% | ' |
Real Estate [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity accounts | 10.00% | 10.00% |
Equity accounts, minimum | 6.00% | ' |
Equity accounts, maximum | 12.00% | ' |
Other Assets [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity accounts | 9.00% | 11.00% |
Equity accounts, minimum | 3.00% | ' |
Equity accounts, maximum | 15.00% | ' |
Retirement_Plans_Fair_Values_P
Retirement Plans (Fair Values Pension Plan Assets By Asset Class) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ($10,706) | $10,111 | ' |
Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 181 | 171 | 155 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -2,634 | -2,371 | ' |
Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -5,395 | -5,343 | ' |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -2,677 | -2,397 | ' |
Fixed Income Common Collective Funds [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | -180 | ' |
Fixed Income Common Collective Funds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | 0 | ' |
Fixed Income Common Collective Funds [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | -180 | ' |
Fixed Income Common Collective Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | 0 | ' |
Corporate Bonds [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,248 | -1,539 | ' |
Corporate Bonds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Corporate Bonds [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,248 | -1,539 | ' |
Corporate Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Government Securities [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,097 | -1,593 | ' |
Government Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Government Securities [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,097 | -1,593 | ' |
Government Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Mortgage Backed Securities [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -143 | -127 | ' |
Mortgage Backed Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Mortgage Backed Securities [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -143 | -127 | ' |
Mortgage Backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Other Fixed Income [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -74 | -75 | ' |
Other Fixed Income [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 1 | 0 | ' |
Other Fixed Income [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -65 | -67 | ' |
Other Fixed Income [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -10 | -8 | ' |
Commodities [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -193 | -216 | ' |
Commodities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Commodities [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -193 | -216 | ' |
Commodities [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Hedge Funds [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -831 | -492 | ' |
Hedge Funds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Hedge Funds [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Hedge Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -831 | -492 | ' |
Private Equity Funds [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -484 | -503 | ' |
Private Equity Funds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Private Equity Funds [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Private Equity Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -484 | -503 | ' |
Real Estate [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,038 | -1,037 | ' |
Real Estate [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Real Estate [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,038 | -1,037 | ' |
Derivatives [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -313 | -354 | ' |
Derivatives [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Derivatives [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Derivatives [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -313 | -354 | ' |
Cash And Cash Equivalents [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -506 | -311 | ' |
Cash And Cash Equivalents [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 10 | 15 | ' |
Cash And Cash Equivalents [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -516 | -326 | ' |
Cash And Cash Equivalents [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Non-US [Member] | Equity Securities [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -2,313 | -1,513 | ' |
Non-US [Member] | Equity Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,470 | -1,145 | ' |
Non-US [Member] | Equity Securities [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -843 | -368 | ' |
Non-US [Member] | Equity Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
United States [Member] | Equity Securities [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -2,466 | -2,171 | ' |
United States [Member] | Equity Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,175 | -1,241 | ' |
United States [Member] | Equity Securities [Member] | Significant Observable Inputs (Level 2) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | -1,290 | -927 | ' |
United States [Member] | Equity Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ($1) | ($3) | ' |
Retirement_Plans_Fair_Value_Me
Retirement Plans (Fair Value Measurements Using Significant Unobservable Inputs (Level 3)) (Details) (U.S. Plans [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Other Fixed Income [Member] | Other Fixed Income [Member] | Other Fixed Income [Member] | Hedge Funds [Member] | Hedge Funds [Member] | Hedge Funds [Member] | Private Equity Funds [Member] | Private Equity Funds [Member] | Private Equity Funds [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Derivatives [Member] | Derivatives [Member] | Derivatives [Member] | ||
United States [Member] | United States [Member] | United States [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||||||||||
Significant Unobservable Inputs (Level 3) [Member] | |||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets, January 1 | $10,706 | ($10,111) | $2,397 | $2,466 | $2,171 | $3 | $74 | $75 | $8 | $831 | $492 | $492 | $484 | $503 | $503 | $1,038 | $1,037 | $1,037 | $313 | $354 | $354 |
Relating to assets still held at the reporting date | ' | ' | 94 | ' | ' | -1 | ' | ' | 1 | ' | ' | 11 | ' | ' | 41 | ' | ' | 62 | ' | ' | -20 |
Relating to assets sold during the period | ' | ' | 219 | ' | ' | 2 | ' | ' | 0 | ' | ' | 47 | ' | ' | 1 | ' | ' | 32 | ' | ' | 137 |
Purchases, sales and settlements | ' | ' | -34 | ' | ' | -3 | ' | ' | 0 | ' | ' | 281 | ' | ' | -61 | ' | ' | -93 | ' | ' | -158 |
Transfers in and/or out of Level 3 | ' | ' | 1 | ' | ' | 0 | ' | ' | 1 | ' | ' | 0 | ' | ' | 0 | ' | ' | 0 | ' | ' | 0 |
Fair value of plan assets, December 31 | $10,706 | ($10,111) | $2,677 | $2,466 | $2,171 | $1 | $74 | $75 | $10 | $831 | $492 | $831 | $484 | $503 | $484 | $1,038 | $1,037 | $1,038 | $313 | $354 | $313 |
Retirement_Plans_Retirement_Pl1
Retirement Plans Retirement Plans (Projected Future Pension Benefit Payments, Excluding Any Termination Beneftis) (Details) (U.S. Plans [Member], USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
U.S. Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Projected future pension benefit payments, 2013 | $767 |
Projected future pension benefit payments, 2014 | 759 |
Projected future pension benefit payments, 2015 | 767 |
Projected future pension benefit payments, 2016 | 779 |
Projected future pension benefit payments, 2017 | 791 |
Projected future pension benefit payments, 2018 - 2022 | $4,165 |
Retirement_Plans_Narrative_Det
Retirement Plans (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Defined contribution plan, cost recognized | $120 | $122 | $83 | |
Qualified Defined Benefit Pension Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Defined benefit expense | 545 | ' | ' | |
Supplemental Employee Retirement Plan, Defined Benefit [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Benefits paid | 28 | 95 | 19 | |
Nonqualified plans funded expected to be paid | 46 | ' | ' | |
U.S. Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Increased benefit obligation as a result of a decrease in the discount rate assumption | -1,298 | ' | ' | |
Nonqualified plans funded expected to be paid | 767 | ' | ' | |
Discount rate | 4.10% | 5.10% | 5.60% | |
Expected long-term rate of return on plan assets | 8.00% | [1] | 8.00% | 8.25% |
Defined benefit expense | 545 | 342 | 195 | |
Total recognized in other comprehensive income | -2,392 | ' | ' | |
Accumulated benefit obligation for defined benefit plans | 12,600 | 13,800 | ' | |
Estimated amount of net loss that will be amortized from OCI into net benefit cost in 2012 | 316 | ' | ' | |
Estimated amount of prior service cost credit that will be amortized from OCI into net benefit cost in 2012 | 30 | ' | ' | |
Plan assets increase (decrease) reflecting favorable investment results | -595 | ' | ' | |
Projected benefit obligation | 12,903 | 14,201 | ' | |
Defined benefit plan, net periodic benefit cost estimate for 2013 | 366 | ' | ' | |
Rate of compensation increase | 3.75% | 3.75% | 3.75% | |
U.S. Plans [Member] | Qualified Defined Benefit Pension Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Company contributions | 31 | 44 | 300 | |
Non-U.S. Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Benefits paid | 8 | 8 | ' | |
Discount rate | 4.96% | 5.98% | 6.01% | |
Expected long-term rate of return on plan assets | 7.04% | 7.62% | 7.79% | |
Defined benefit expense | 5 | 3 | 1 | |
Total recognized in other comprehensive income | -5 | ' | ' | |
Accumulated benefit obligation for defined benefit plans | 208 | 206 | ' | |
Projected benefit obligation | 181 | 200 | ' | |
Rate of compensation increase | 3.17% | 3.12% | 3.07% | |
Company contributions | -8 | -8 | ' | |
Qualified Defined Benefit Pension Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Company contributions | $31 | ' | ' | |
Scenario, Forecast [Member] | U.S. Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Discount rate | 4.90% | ' | ' | |
Expected long-term rate of return on plan assets | 7.75% | ' | ' | |
Rate of compensation increase | 3.75% | ' | ' | |
Temple Inland Inc [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Expected long-term rate of return on plan assets | 6.16% | 5.70% | ' | |
Temple Inland Inc [Member] | Scenario, Forecast [Member] | U.S. Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Expected long-term rate of return on plan assets | 7.00% | ' | ' | |
[1] | Represents the expected rate of return for International Paper's qualified pension plan. The weighted average rate for the Temple-Inland Retirement Plan was |
Postretirement_Benefits_Compon
Postretirement Benefits (Components Of Postretirement Benefit Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Curtailments | $7 | ' | ' |
U.S. Postretirement Benefit Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 2 | 3 | 2 |
Interest cost | 14 | 20 | 21 |
Actuarial loss | 7 | 10 | 9 |
Amortization of prior service credits | -24 | -30 | -25 |
Curtailments | 0 | -7 | 0 |
Net periodic pension expense | -1 | -4 | 7 |
Foreign Postretirement Benefit Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 2 | 0 | 0 |
Interest cost | 5 | 1 | 2 |
Actuarial loss | 0 | 0 | 0 |
Amortization of prior service credits | 0 | 0 | 0 |
Curtailments | 0 | 0 | 0 |
Net periodic pension expense | $7 | $1 | $2 |
Postretirement_Benefits_Pensio
Postretirement Benefits Pension Benefits (Components of Postretirement Benefit Expense Parenthetical) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' |
Curtailments | ($7) |
Postretirement_Benefits_Discou
Postretirement Benefits (Discount Rates Used To Determine Net Cost) (Details) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
U.S. Postretirement Benefit Plans [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Discount rate | 3.70% | [1] | 4.40% | 5.30% |
Foreign Postretirement Benefit Plan, Defined Benefit [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Discount rate | 8.43% | 7.73% | 7.72% | |
[1] | Represents the weighted average rate for the IP plan for 2012 due to the remeasurement. The weighted average rate used for Temple-Inland in 2012 was 4.19%. |
Postretirement_Benefits_Postre
Postretirement Benefits Postretirement Benefits (Discount Rates Used To Determine Net Cost Parenthetical) (Details) (U.S. Postretirement Benefit Plans [Member]) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.70% | [1] | 4.40% | 5.30% |
Temple Inland [Member] | ' | ' | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | ' | 4.19% | ' | |
[1] | Represents the weighted average rate for the IP plan for 2012 due to the remeasurement. The weighted average rate used for Temple-Inland in 2012 was 4.19%. |
Postretirement_Benefits_Weight
Postretirement Benefits (Weighted Average Assumptions Used To Determine Benefit Obligation) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
U.S. Postretirement Benefit Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 4.50% | 3.70% |
Health care cost trend rate assumed for next year | 7.00% | 7.50% |
Rate that the cost trend rate gradually declines to | 5.00% | 5.00% |
Year that the rate reaches the rate it is assumed to retain | '2017 | '2017 |
Foreign Postretirement Benefit Plan, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 11.94% | 8.43% |
Health care cost trend rate assumed for next year | 11.43% | 7.18% |
Rate that the cost trend rate gradually declines to | 6.12% | 7.18% |
Year that the rate reaches the rate it is assumed to retain | '2024 | '2013 |
Postretirement_Benefits_Change
Postretirement Benefits (Changes In Postretirement Benefit Obligation, Plan Assets, Funded Status And Amounts Recognized In Balance Sheet And Accumulated Other Comprehensive (Loss) Income) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Curtailments | $7 | ' | ' |
U.S. Postretirement Benefit Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 2 | 3 | 2 |
Interest cost | 14 | 20 | 21 |
Actuarial (gain) loss | -7 | -10 | -9 |
Curtailments | 0 | -7 | 0 |
Funded status, December 31 | -322 | -449 | ' |
Current liability | -39 | -59 | ' |
Non-current liability | -283 | -390 | ' |
Amounts recognized in the consolidated balance sheet | -322 | -449 | ' |
Net actuarial loss (gain) | 31 | 115 | ' |
Prior service credit | -35 | -65 | ' |
Amounts recognized in accumulated other comprehensive income (pre-tax) | -4 | 50 | ' |
U.S. Postretirement Benefit Plans [Member] | Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Participants’ contributions | -19 | -34 | ' |
Benefits paid | -82 | -107 | ' |
Fair value of plan assets, January 1 | 0 | 0 | ' |
Company contributions | 63 | 73 | ' |
Participants’ contributions | -19 | -34 | ' |
Benefits paid | -82 | -107 | ' |
Fair value of plan assets, December 31 | 0 | 0 | ' |
Foreign Postretirement Benefit Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 2 | 0 | 0 |
Interest cost | 5 | 1 | 2 |
Actuarial (gain) loss | 0 | 0 | 0 |
Curtailments | 0 | 0 | 0 |
Funded status, December 31 | -72 | -22 | ' |
Current liability | -2 | -2 | ' |
Non-current liability | -70 | -20 | ' |
Amounts recognized in the consolidated balance sheet | -72 | -22 | ' |
Net actuarial loss (gain) | 11 | -1 | ' |
Prior service credit | 0 | 0 | ' |
Amounts recognized in accumulated other comprehensive income (pre-tax) | 11 | -1 | ' |
Foreign Postretirement Benefit Plan, Defined Benefit [Member] | Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Participants’ contributions | 0 | -1 | ' |
Benefits paid | -1 | -2 | ' |
Fair value of plan assets, January 1 | 0 | 0 | ' |
Company contributions | 1 | 1 | ' |
Participants’ contributions | 0 | -1 | ' |
Benefits paid | -1 | -2 | ' |
Fair value of plan assets, December 31 | 0 | 0 | ' |
Benefit Obligation [Member] | U.S. Postretirement Benefit Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation, January 1 | 449 | 425 | ' |
Service cost | 2 | 3 | ' |
Interest cost | 14 | 20 | ' |
Participants’ contributions | -19 | -34 | ' |
Actuarial (gain) loss | -80 | 44 | ' |
Acquisitions | 0 | 108 | ' |
Plan amendments | 0 | -63 | ' |
Benefits paid | -82 | -107 | ' |
Less: Federal subsidy | 2 | 7 | ' |
Restructuring | 0 | -17 | ' |
Curtailments | -2 | -5 | ' |
Benefit obligation, December 31 | 322 | 449 | ' |
Participants’ contributions | -19 | -34 | ' |
Benefits paid | -82 | -107 | ' |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | 0 | 0 | ' |
Benefit Obligation [Member] | Foreign Postretirement Benefit Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation, January 1 | 22 | 23 | ' |
Service cost | 2 | 0 | ' |
Interest cost | 5 | 1 | ' |
Participants’ contributions | 0 | -1 | ' |
Actuarial (gain) loss | 12 | 10 | ' |
Acquisitions | 38 | 0 | ' |
Plan amendments | 0 | 0 | ' |
Benefits paid | -1 | -2 | ' |
Less: Federal subsidy | 0 | 0 | ' |
Restructuring | 0 | 0 | ' |
Curtailments | 0 | -11 | ' |
Benefit obligation, December 31 | 72 | 22 | ' |
Participants’ contributions | 0 | -1 | ' |
Benefits paid | -1 | -2 | ' |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | ($6) | $0 | ' |
Postretirement_Benefits_Postre1
Postretirement Benefits (Postretirement Benefit Adjustments Recognized In Other Comprehensive (Loss) Income) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
U.S. Postretirement Benefit Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Curtailments | $5 |
Current year actuarial gain | -76 |
Amortization of actuarial loss | -7 |
Amortization of prior service credit | 24 |
Total recognized in other comprehensive income | -54 |
Foreign Postretirement Benefit Plan, Defined Benefit [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Curtailments | 0 |
Current year actuarial gain | 0 |
Amortization of actuarial loss | 12 |
Amortization of prior service credit | 0 |
Total recognized in other comprehensive income | $12 |
Postretirement_Benefits_Estima
Postretirement Benefits (Estimated Total Future Postretirement Benefit Payments, Net Of Participant Contributions And Estimated Future Medicare Part D Subsidy Receipts) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Non-U.S. Postretirement Benefit Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Benefit Payments, 2014 | $2 |
Benefit Payments, 2015 | 3 |
Benefit Payments, 2016 | 3 |
Benefit Payments, 2017 | 4 |
Benefit Payments, 2018 | 4 |
Benefit Payments, 2019 - 2023 | 31 |
U.S. Postretirement Benefit Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Benefit Payments, 2014 | 42 |
Benefit Payments, 2015 | 35 |
Benefit Payments, 2016 | 32 |
Benefit Payments, 2017 | 30 |
Benefit Payments, 2018 | 28 |
Benefit Payments, 2019 - 2023 | 120 |
Subsidy Receipts, 2014 | 3 |
Subsidy Receipts, 2015 | 3 |
Subsidy Receipts, 2016 | 3 |
Subsidy Receipts, 2017 | 3 |
Subsidy Receipts, 2018 | 3 |
Subsidy Receipts, 2019 - 2023 | $11 |
Postretirement_Benefits_Narrat
Postretirement Benefits (Narrative) (Details) (USD $) | 12 Months Ended | 5 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
U.S. Postretirement Benefit Plans [Member] | U.S. Postretirement Benefit Plans [Member] | U.S. Postretirement Benefit Plans [Member] | Non-U.S. Postretirement Benefit Plans [Member] | Non-U.S. Postretirement Benefit Plans [Member] | Non-U.S. Postretirement Benefit Plans [Member] | Temple Inland Building Products Business [Member] | Temple Inland [Member] | FY 2013 [Member] | FY 2013 [Member] | |||
U.S. Postretirement Benefit Plans [Member] | Non-U.S. Postretirement Benefit Plans [Member] | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Increase (decrease) in pension and postretirement obligations | $29 | ' | ' | ' | ' | ' | ' | $6 | $6 | ' | ' | |
Increase (decrease) in expected benefit cost | 11 | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | |
Discount rate | ' | 3.70% | [1] | 4.40% | 5.30% | 8.43% | 7.73% | 7.72% | ' | ' | ' | ' |
Increased in the accumulated postretirement benefit obligation due to a 1% increase in annual health care cost trend rate | ' | 13 | ' | ' | 12 | ' | ' | ' | ' | ' | ' | |
Decreased in the accumulated postretirement benefit obligation due to a 1% decrease in the annual trend rat | ' | 11 | ' | ' | 10 | ' | ' | ' | ' | ' | ' | |
Increase (decrease) in the amounts recognized in OCI | ' | -54 | ' | ' | 12 | ' | ' | ' | ' | ' | ' | |
Change in the funded status that was recognized in either net periodic benefit cost or OCI | ' | 63 | 0 | 47 | 19 | 2 | 3 | ' | ' | ' | ' | |
Defined benefit plan, amortization of gains (losses) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 1 | |
Net benefit expense | ' | 1 | 4 | -7 | -7 | -1 | -2 | ' | ' | ' | ' | |
Amortization of prior service cost | ' | 24 | 30 | 25 | 0 | 0 | 0 | ' | ' | -13 | 0 | |
Defined benefit plan, effect of one percentage point increase on service and interest cost components | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | Represents the weighted average rate for the IP plan for 2012 due to the remeasurement. The weighted average rate used for Temple-Inland in 2012 was 4.19%. |
Incentive_Plans_Summary_Of_Sto
Incentive Plans (Summary Of Stock Option Program) (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | ' | ' | ' | ' |
Share-based compensation arrangement by share-based payment award, options, grants in period, net of forfeitures | 4,744 | 2,513 | ' | ' |
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value | $48.11 | $35.94 | ' | ' |
Options, outstanding | 9,136,060 | 15,556,786 | 18,245,253 | ' |
Options, exercised | -7,317,825 | -3,200,642 | -1,850 | ' |
Options, forfeited | ' | ' | -21,070 | ' |
Options, expired | -70,190 | -3,222,597 | -2,665,547 | ' |
Options, outstanding | 1,752,789 | 9,136,060 | 15,556,786 | 18,245,253 |
Weighted average exercise price, outstanding | $38.79 | $38.13 | $37.73 | ' |
Weighted average exercise price, exercised | $38.57 | $33.62 | $32.54 | ' |
Weighted average exercise price, forfeited | ' | ' | $35.21 | ' |
Weighted average exercise price, outstanding | $39.80 | $38.79 | $38.13 | $37.73 |
Aggregate intrinsic value, outstanding | $16,175 | $1,077 | $0 | $0 |
Weighted average remaining life (years), outstanding | '8 months 2 days | '1 year 1 month 24 days | '1 year 6 months 18 days | '2 years 3 months 18 days |
Share-based compensation arrangements by share-based payment award, options, expirations in period, weighted average exercise price | $37.15 | $40.71 | $35.45 | ' |
Incentive_Plans_Assumptions_Us
Incentive Plans (Assumptions Used To Determine Compensation Cost For Market Condition Component Of Performance Share Program) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | ' |
Expected volatility, lower limit | 25.30% |
Expected volatility, upper limit | 62.58% |
Risk-free interest rate, lower limit | 0.13% |
Risk-free interest rate, upper limit | 0.99% |
Incentive_Plans_Summary_Of_Per
Incentive Plans (Summary Of Performance Share Program Activity) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Shares/units, outstanding | 8,660,855 | 8,060,059 | 6,812,594 | 8,117,489 |
Shares/units, granted | 3,148,445 | 3,641,911 | 4,314,376 | ' |
Shares/units, shares issued | -3,262,760 | -2,871,367 | -2,565,971 | ' |
Shares/units, forfeited | -429,051 | -169,748 | -500,940 | ' |
Weighted average grant date fair value, outstanding | $28.37 | $22.83 | $23.31 | $31.20 |
Weighted average grant date fair value, granted | $40.76 | $31.57 | $28.04 | ' |
Weighted average grant date fair value, shares issued | $32.48 | $16.83 | $32.43 | ' |
Weighted average grant date fair value, forfeited | $34.58 | $28.89 | $25.07 | ' |
Incentive_Plans_Summary_Of_Act
Incentive Plans (Summary Of Activity Of Executive Continuity And Restricted Stock Award Program) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares/units, outstanding | 8,660,855 | 8,060,059 | 6,812,594 |
Shares/units, granted | 3,148,445 | 3,641,911 | 4,314,376 |
Shares/units, shares issued | -3,262,760 | -2,871,367 | -2,565,971 |
Shares/units, forfeited | -429,051 | -169,748 | -500,940 |
Shares/Units, outstanding | 8,117,489 | 8,660,855 | 8,060,059 |
Weighted average grant date fair value, outstanding | $28.37 | $22.83 | $23.31 |
Weighted average grant date fair value, granted | $40.76 | $31.57 | $28.04 |
Weighted average grant date fair value, shares issued | $32.48 | $16.83 | $32.43 |
Weighted average grant date fair value, outstanding | $31.20 | $28.37 | $22.83 |
Weighted average grant date fair value, forfeited | $34.58 | $28.89 | $25.07 |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares/units, outstanding | 151,549 | 128,917 | 167,500 |
Shares/units, granted | 67,100 | 88,715 | 21,500 |
Shares/units, shares issued | -88,775 | -61,083 | -55,083 |
Shares/units, forfeited | -17,500 | -5,000 | -5,000 |
Shares/Units, outstanding | 112,374 | 151,549 | 128,917 |
Weighted average grant date fair value, outstanding | $30.49 | $27.86 | $26.95 |
Weighted average grant date fair value, granted | $44.41 | $31.91 | $27.01 |
Weighted average grant date fair value, shares issued | $32.30 | $27.13 | $24.84 |
Weighted average grant date fair value, outstanding | $36.24 | $30.49 | $27.86 |
Weighted average grant date fair value, forfeited | $37.75 | $28.91 | $26.78 |
Incentive_Plans_StockBased_Com
Incentive Plans (Stock-Based Compensation Expense And Related Income Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Income tax benefits related to stock-based compensation | $74 | $48 | $34 |
Selling And Marketing Expense [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Allocated share-based compensation expense | $137 | $116 | $84 |
Incentive_Plans_Narrative_Deta
Incentive Plans (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock rights and stock units | 8,117,489 | 8,660,855 | 8,060,059 | 6,812,594 |
Compensation cost related to unvested restricted performace shares, executive continuity awards and restricted stock attributable to future performance, net of estimated forfeitures | $116 | ' | ' | ' |
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 | ' | ' | ' |
Stock Compensation Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Shares available for grant | 17,800,000 | 19,300,000 | 18,600,000 | ' |
Performance Shares [Member] | Other Participants [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Weight of return on investment (ROI) on awards | 75.00% | ' | ' | ' |
Weight of total shareholder return (TSR) on awards | 25.00% | ' | ' | ' |
Performance Shares [Member] | Officer [Member] | ' | ' | ' | ' |
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% | ' | ' | ' |
Incentive_Plans_Incentive_Plan
Incentive Plans Incentive Plans (Summary of Performance Share Program Activity Parenthetical) (Details) (Details) (Performance Share Program [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Performance Share Program [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Shares held for payout | 356,542 |
Financial_Information_By_Indus2
Financial Information By Industry Segment And Geographic Area (Sales By Industry Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | $7,249 | $7,406 | $7,335 | $7,090 | $7,075 | $7,026 | $7,077 | $6,655 | $29,080 | [1] | $27,833 | [1] | $26,034 | [1] |
Industrial Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 14,810 | 13,280 | 10,430 | |||
Printing Papers [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 6,205 | 6,230 | 6,215 | |||
Consumer Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 3,435 | 3,170 | 3,710 | |||
Distribution [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 5,650 | 6,040 | 6,630 | |||
Corporate And Intersegment Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | ($1,020) | ($887) | ($951) | |||
[1] | Net sales are attributed to countries based on the location of the seller. |
Financial_Information_By_Indus3
Financial Information By Industry Segment And Geographic Area (Operating Profit By Industry Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | $1,844 | $1,955 | $2,216 | |||||||||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -612 | -672 | -541 | |||||||||||
Noncontrolling interests / equity earnings adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 1 | [1] | 0 | [1] | 10 | [1] | ||||||||
Corporate items, net | ' | ' | ' | ' | ' | ' | ' | ' | -29 | -51 | -102 | |||||||||||
Restructuring and other charges | ' | ' | ' | ' | ' | ' | ' | ' | -32 | -51 | -82 | |||||||||||
Net gains (losses) on sales and impairments of businesses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 2 | 0 | |||||||||||
Non-operating pension expense | ' | ' | ' | ' | ' | ' | ' | ' | -323 | -159 | -43 | |||||||||||
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY EARNINGS | -155 | [2] | 411 | [3] | 363 | [4] | 230 | [5] | 287 | [6] | 320 | [7] | 204 | [8] | 213 | [9] | 849 | [2],[3],[4],[5] | 1,024 | [6],[7],[8],[9] | 1,458 | |
Industrial Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,801 | 1,066 | 1,147 | |||||||||||
Printing Papers [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 271 | 599 | 872 | |||||||||||
Consumer Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 161 | 268 | 163 | |||||||||||
Distribution [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($389) | $22 | $34 | |||||||||||
[1] | Operating profits for industry segments include each segment’s percentage share of the profits of subsidiaries included in that segment that are less than wholly-owned. The pre-tax noncontrolling interests and equity earnings for these subsidiaries is added here to present consolidated earnings from continuing operations before income taxes and equity earnings. | |||||||||||||||||||||
[2] | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | |||||||||||||||||||||
[3] | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | |||||||||||||||||||||
[4] | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | |||||||||||||||||||||
[5] | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | |||||||||||||||||||||
[6] | Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | |||||||||||||||||||||
[7] | ncludes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | |||||||||||||||||||||
[8] | Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | |||||||||||||||||||||
[9] | Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. |
Financial_Information_By_Indus4
Financial Information By Industry Segment And Geographic Area (Information By Industry Segment, Restructuring And Other Charges) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring and other charges | $210 | $109 | $102 |
Industrial Packaging [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring and other charges | -2 | 14 | 20 |
Printing Papers [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring and other charges | 118 | 0 | -24 |
Consumer Packaging [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring and other charges | 45 | 0 | 2 |
Distribution [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring and other charges | 32 | 44 | 49 |
Corporate [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring and other charges | $17 | $51 | $55 |
Financial_Information_By_Indus5
Financial Information By Industry Segment And Geographic Area (Information By Industry Segment, Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets | $31,528 | $32,153 | ||
Industrial Packaging [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets | 15,083 | 13,353 | ||
Printing Papers [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets | 6,574 | 7,198 | ||
Consumer Packaging [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets | 3,222 | 3,123 | ||
Distribution [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets | 1,186 | 1,639 | ||
Corporate And Other [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets | $5,463 | [1] | $6,840 | [1] |
[1] | Includes corporate assets and assets of businesses held for sale. |
Financial_Information_By_Indus6
Financial Information By Industry Segment And Geographic Area (Information By Industry Segment, Capital Spending) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Spending - Total from Continuing Operations | $1,198 | $1,383 | $1,159 |
Industrial Packaging [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Spending - Total from Continuing Operations | 629 | 565 | 426 |
Printing Papers [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Spending - Total from Continuing Operations | 294 | 449 | 364 |
Consumer Packaging [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Spending - Total from Continuing Operations | 208 | 296 | 310 |
Distribution [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Spending - Total from Continuing Operations | 9 | 10 | 8 |
Subtotal [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Spending - Total from Continuing Operations | 1,140 | 1,320 | 1,108 |
Corporate And Other [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Spending - Total from Continuing Operations | $58 | $63 | $51 |
Financial_Information_By_Indus7
Financial Information By Industry Segment And Geographic Area (Information By Industry Segment, (Depreciation, Amortization And Cost of Timber Harvested) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Depreciation, amortization and cost of timber harvested | $1,547 | [1] | $1,486 | [1] | $1,332 | [1] |
Industrial Packaging [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Depreciation, amortization and cost of timber harvested | 805 | [1] | 755 | [1] | 513 | [1] |
Printing Papers [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Depreciation, amortization and cost of timber harvested | 446 | [1] | 450 | [1] | 486 | [1] |
Consumer Packaging [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Depreciation, amortization and cost of timber harvested | 206 | [1] | 196 | [1] | 217 | [1] |
Distribution [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Depreciation, amortization and cost of timber harvested | 16 | [1] | 13 | [1] | 14 | [1] |
Corporate [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Depreciation, amortization and cost of timber harvested | $74 | [1] | $72 | [1] | $102 | [1] |
[1] | Excludes accelerated depreciation related to closure of mills. |
Financial_Information_By_Indus8
Financial Information By Industry Segment And Geographic Area (Information By Industry Segment, External Sales By Major Product) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | $7,249 | $7,406 | $7,335 | $7,090 | $7,075 | $7,026 | $7,077 | $6,655 | $29,080 | [1] | $27,833 | [1] | $26,034 | [1] |
Industrial Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 14,810 | 13,280 | 10,430 | |||
Printing Papers [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 6,205 | 6,230 | 6,215 | |||
Consumer Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 3,435 | 3,170 | 3,710 | |||
Distribution [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 5,650 | 6,040 | 6,630 | |||
External Sales By Major Product [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 29,080 | 27,833 | 26,034 | |||
External Sales By Major Product [Member] | Industrial Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 14,729 | 13,223 | 10,376 | |||
External Sales By Major Product [Member] | Printing Papers [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 5,443 | 5,483 | 5,510 | |||
External Sales By Major Product [Member] | Consumer Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 3,311 | 3,146 | 3,577 | |||
External Sales By Major Product [Member] | Distribution [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | $5,597 | $5,981 | $6,571 | |||
[1] | Net sales are attributed to countries based on the location of the seller. |
Financial_Information_By_Indus9
Financial Information By Industry Segment And Geographic Area (Information By Geographic Area, Net Sales) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales by Geographic Area | $7,249 | $7,406 | $7,335 | $7,090 | $7,075 | $7,026 | $7,077 | $6,655 | $29,080 | [1] | $27,833 | [1] | $26,034 | [1] |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales by Geographic Area | ' | ' | ' | ' | ' | ' | ' | ' | 21,854 | [1],[2] | 21,523 | [1],[2] | 19,434 | [1],[2] |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales by Geographic Area | ' | ' | ' | ' | ' | ' | ' | ' | 3,284 | [1] | 2,935 | [1] | 3,183 | [1] |
Pacific Rim And Asia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales by Geographic Area | ' | ' | ' | ' | ' | ' | ' | ' | 2,112 | [1] | 1,816 | [1] | 1,807 | [1] |
Americas, Other Than U.S. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales by Geographic Area | ' | ' | ' | ' | ' | ' | ' | ' | $1,830 | [1] | $1,559 | [1] | $1,610 | [1] |
[1] | Net sales are attributed to countries based on the location of the seller. | |||||||||||||
[2] | Export sales to unaffiliated customers were $2.4 billion in 2013, $2.2 billion in 2012 and $2.1 billion in 2011. |
Recovered_Sheet3
Financial Information By Industry Segment And Geographic Area (Financial Information By Industry Segment and Geographic Area (Information By Geographic Area, Net Sales, Parenthetical) (Details) (United States [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
United States [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Segment reporting information, unaffiliated revenue | $2,400 | $2,200 | $2,100 |
Recovered_Sheet4
Financial Information By Industry Segment And Geographic Area (Information By Geographic Area, Long-Lived Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets, Noncurrent | $14,229 | [1] | $14,571 | [1] |
United States [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets, Noncurrent | 10,056 | [1] | 10,484 | [1] |
Europe [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets, Noncurrent | 1,126 | [1] | 1,022 | [1] |
Pacific Rim And Asia [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets, Noncurrent | 946 | [1] | 982 | [1] |
Americas, Other Than U.S. [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets, Noncurrent | 1,772 | [1] | 1,773 | [1] |
Corporate [Member] | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ||
Assets, Noncurrent | $329 | [1] | $310 | [1] |
[1] | Long-Lived Assets includes Forestlands and Plants, Properties and Equipment, net. |
Recovered_Sheet5
Financial Information By Industry Segment And Geographic Area (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Equity earnings (loss), net of taxes | ($39) | $61 | $140 |
Ilim Holding [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Percentage of equity interest | 50.00% | ' | ' |
Equity earnings (loss), net of taxes | ($46) | $56 | $134 |
Subsequent_Event_Subsequent_Ev1
Subsequent Event Subsequent Event (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Subsequent Events [Abstract] | ' |
Special payment to be received in exchange for asset contribution | $400 |
Interim_Financial_Results_Deta
Interim Financial Results (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
NET SALES | $7,249 | $7,406 | $7,335 | $7,090 | $7,075 | $7,026 | $7,077 | $6,655 | $29,080 | [1] | $27,833 | [1] | $26,034 | [1] | ||||||||
Gross margin (a) | 1,973 | [2] | 2,093 | [2] | 1,921 | [2] | 1,870 | [2] | 1,882 | [2] | 1,886 | [2] | 1,807 | [2] | 1,671 | [2] | 7,857 | [2] | 7,246 | [2] | ' | |
Earnings (loss) from continuing operations before income taxes and equity earnings | -155 | [3] | 411 | [4] | 363 | [5] | 230 | [6] | 287 | [7] | 320 | [8] | 204 | [9] | 213 | [10] | 849 | [3],[4],[5],[6] | 1,024 | [10],[7],[8],[9] | 1,458 | |
Gain (loss) from discontinued operations, net of taxes | 5 | -10 | 24 | 26 | 10 | 14 | 16 | 5 | 45 | 45 | 49 | |||||||||||
Net earnings (loss) attributable to International Paper Company | $436 | [11],[12],[3] | $382 | [13],[4] | $259 | [5] | $318 | [14],[6] | $235 | [15],[7] | $237 | [8] | $134 | [9] | $188 | [10] | $1,395 | [11],[12],[13],[14],[3],[4],[5],[6] | $794 | [10],[15],[7],[8],[9] | $1,322 | |
Earnings (loss) from continuing operations, per basic share | $0.98 | [3] | $0.88 | [4] | $0.53 | [5] | $0.66 | [6] | $0.52 | [7] | $0.51 | [8] | $0.27 | [9] | $0.42 | [10] | $3.05 | [3],[4],[5],[6] | $1.72 | [10],[7],[8],[9] | $2.95 | |
Gain (loss) from discontinued operations | $0.01 | ($0.02) | $0.05 | $0.06 | $0.02 | $0.03 | $0.04 | $0.01 | $0.10 | $0.10 | $0.11 | |||||||||||
Net earning (loss) attributable to International Paper Company common shareholders, per basic share | $0.99 | [11],[12],[3] | $0.86 | [13],[4] | $0.58 | [5] | $0.72 | [14],[6] | $0.54 | [15],[7] | $0.54 | [8] | $0.31 | [9] | $0.43 | [10] | $3.15 | [11],[12],[13],[14],[3],[4],[5],[6] | $1.82 | [10],[15],[7],[8],[9] | $3.06 | |
Diluted earnings (loss) per share from continuing operations | $0.97 | [3] | $0.87 | [4] | $0.52 | [5] | $0.65 | [6] | $0.51 | [7] | $0.51 | [8] | $0.27 | [9] | $0.42 | [10] | $3.01 | [3],[4],[5],[6] | $1.70 | [10],[7],[8],[9] | $2.92 | |
Gain (loss) from discontinued operations | $0.01 | ($0.02) | $0.05 | $0.06 | $0.02 | $0.03 | $0.04 | $0.01 | $0.10 | $0.10 | $0.11 | |||||||||||
Net earning (loss) attributable to International Paper Company common shareholders, per diluted share | $0.98 | [11],[12],[3] | $0.85 | [13],[4] | $0.57 | [5] | $0.71 | [14],[6] | $0.53 | [15],[7] | $0.54 | [8] | $0.31 | [9] | $0.43 | [10] | $3.11 | [11],[12],[13],[14],[3],[4],[5],[6] | $1.80 | [10],[15],[7],[8],[9] | $3.03 | |
Dividends per share of common stock | $0.35 | $0.30 | $0.30 | $0.30 | $0.30 | $0.26 | $0.26 | $0.26 | $1.25 | $1.09 | ' | |||||||||||
Common stock prices, High | $49.52 | $50.33 | $49.10 | $47.25 | $39.88 | $37.25 | $35.59 | $36.50 | $50.33 | $39.88 | ' | |||||||||||
Common stock prices, Low | $42.92 | $43.95 | $42.36 | $39.47 | $32.95 | $28.29 | $27.29 | $29.45 | $39.47 | $27.29 | ' | |||||||||||
[1] | Net sales are attributed to countries based on the location of the seller. | |||||||||||||||||||||
[2] | Gross margin represents net sales less cost of products sold, excluding depreciation, amortization and cost of timber harvested. | |||||||||||||||||||||
[3] | Includes a pre-tax charge of $12 million ($7 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $67 million ($41 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $8 million ($5 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax charge of $4 million ($3 million after taxes) for costs associated with the restructuring of the Asia Box operations, a pre-tax charge of $400 million ($366 million after taxes) for the impairment of goodwill in the Company's xpedx business, a pre-tax charge of $127 million ($122 million after taxes) for the impairment of goodwill and a trade name intangible asset of the Company's India Papers business, a pre- tax charge of $2 million ($1 million after taxes) for an adjustment associated with the Company's divestiture of the Shorewood operations, and a net pre-tax loss of $0 million ($1 million after taxes) for other items. | |||||||||||||||||||||
[4] | Includes a pre-tax charge of $24 million ($15 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced shutdown of our Courtland mill, a pre-tax charge of $15 million ($9 million after taxes) for debt extinguishment costs, a pre-tax charge of $6 million ($4 million after taxes for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $11 million ($7 million after taxes) for costs associated with the spin-off of the xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) associated with the sale of the Bellevue box plant facility which was closed in 2010, a pre-tax charge of $1 million ($0 million after taxes) for costs associated with the divestiture of three containerboard mills in 2012 and charges of $2 million (before and after taxes) for other items. | |||||||||||||||||||||
[5] | Includes a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company's property in Cass Lake, Minnesota, a pre-tax charge of $14 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to market value, a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, a pre-tax charge of $3 million ($2 million after taxes) for debt extinguishment costs, a pre-tax charge of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, a pre-tax charge of $3 million ($2 million after taxes) for costs associated with the spin-off of the xpedx operations, a gain of $13 million (before and after taxes) related to a bargain purchase adjustment on the first-quarter 2013 acquisition of a majority share of our operations in Turkey, and charges of $3 million (before and after taxes) for other items. | |||||||||||||||||||||
[6] | Includes a pre-tax charge of $12 million ($8 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $44 million ($27 million after taxes) for costs associated with the permanent shutdown of a paper machine at our Augusta mill, a pre-tax charge of $6 million ($4 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, interest income of $6 million ($4 million after taxes) related to the closing of a U.S. federal income tax audit, and pre-tax charges of $2 million ($1 million after taxes) for other items. | |||||||||||||||||||||
[7] | Includes a pre-tax charge of $28 million ($19 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $9 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $7 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, a gain of $2 million (before and after taxes) for proceeds associated with the 2010 sale of the Arizona Chemical business, a gain of $2 million (before and after taxes) for adjustments related to the sale of the Company's Shorewood operations, a charge of $1 million (before and after taxes) for costs associated with the containerboard mill divestitures, and pre-tax charges of $5 million ($4 million after taxes) for other items. | |||||||||||||||||||||
[8] | ncludes a pre-tax charge of $9 million ($5 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $58 million ($34 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $13 million ($8 million after taxes) for debt extinguishment costs, a pre-tax charge of $16 million ($11 million after taxes) for costs associated with the restructuring of the Company's Packaging business in EMEA, a pre-tax charge of $19 million ($49 million after taxes) for costs associated with the containerboard mill divestitures and a pre-tax gain of $5 million ($0 million after taxes) for other items. | |||||||||||||||||||||
[9] | Includes a pre-tax charge of $12 million ($8 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $35 million ($22 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $10 million ($6 million after taxes) for debt extinguishment costs, a pre-tax charge of $62 million ($38 million after taxes) to adjust the long-lived assets of the Hueneme mill in Oxnard, California to their fair value in anticipation of its divestiture, a pre-tax charge of $9 million ($5 million after taxes) for costs associated with the third-quarter 2012 divestiture of the Hueneme mill and two other containerboard mills, a pre-tax charge of $6 million ($4 million after taxes) for an adjustment related to the sale of Shorewood, and charges of $2 million (before and after taxes) for other items. | |||||||||||||||||||||
[10] | Includes a pre-tax charge of $20 million ($12 million after taxes) related to the write-up of the Temple-Inland inventories to fair value, a pre-tax charge of $21 million ($16 million after taxes) for an inventory write-off, severance and other charges related to the restructuring of the Company's xpedx operations, a pre-tax charge of $43 million ($33 million after taxes) for integration costs associated with the acquisition of Temple-Inland, a pre-tax charge of $16 million ($10 million after taxes) for early debt extinguishment costs, a pre-tax gain of $7 million ($6 million after taxes) for adjustments related to the sale of the Shorewood business, and a gain of $1 million (before and after taxes) for other items. | |||||||||||||||||||||
[11] | Includes pre-tax noncontrolling interest income of $4 million ($3 million after taxes) associated with the write-off of a trade name intangible asset in our India Papers business. | |||||||||||||||||||||
[12] | Includes a tax benefit of $651 million associated with the closing of a U.S. federal tax audit and a net tax benefit of $3 million for other items. | |||||||||||||||||||||
[13] | Includes a tax benefit of $31 million for an income tax reserve release. In addition, the third quarter tax rate includes a $30 million benefit related to the adjustment of the tax basis in certain of the Company's fixed assets. | |||||||||||||||||||||
[14] | Includes a tax benefit of $93 million associated with the closing of a U.S. federal income tax audit and a net tax expense of $2 million related to internal restructurings. In addition, the first quarter tax rate includes a benefit of approximately $35 million related to the enactment into law of The American Taxpayer Relief Act of 2012 in January 2013. | |||||||||||||||||||||
[15] | Includes a net expense of $14 million related to internal restructurings and a $5 million expense to adjust deferred tax assets related to post-retirement prescription drug coverage (Medicare Part D reimbursements). |
Interim_Financial_Results_Pare
Interim Financial Results (Parenthetical) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | ||||||||||||||
Olmuksan Joint Venture [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Temple Inland Inc [Member] | Shorewood Packaging [Member] | Shorewood Packaging [Member] | Shorewood Packaging [Member] | Shorewood Packaging [Member] | Hueneme Mill [Member] | Hueneme Mill [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Containerboard Mills [Member] | Arizona Chemical [Member] | Inverurie, Scotland Mill [Member] | Distribution [Member] | Distribution [Member] | Distribution [Member] | Distribution [Member] | Printing Papers [Member] | Printing Papers [Member] | Printing Papers [Member] | Andhra Pradesh Paper Mills Limited [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Thirteen Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Two Thousand And Twelve Organizational Restructuring Charges [Member] | Noncontrolling Interest [Member] | Other adjustments [Member] | Tax Basis Adjustment [Member] | Tax Adjustments, Settlements, Unusual Provisions [Member] | Tax Adjustments, Settlements, Unusual Provisions [Member] | Tax Adjustments, Settlements, Unusual Provisions [Member] | |||||||||||||||||||||
Printing Papers [Member] | Augusta Mill Paper Machine Shutdown [Member] | Augusta Mill Paper Machine Shutdown [Member] | S C A Packaging Asia [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | xpedx Divestiture [Member] | xpedx Divestiture [Member] | xpedx Divestiture [Member] | xpedx Divestiture [Member] | CTA Bellevue Facility Closure [Member] | CTA Bellevue Facility Closure [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Courtland Mill Shutdown [Member] | Courtland Mill Shutdown [Member] | Courtland Mill Shutdown [Member] | Insurance Recovery [Member] | Insurance Recovery [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | X P E D X Restructuring [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | Early Debt Extinguishment Costs [Member] | EMEA Packaging Restructuring [Member] | EMEA Packaging Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Goodwill, impairment loss, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $366,000,000 | ' | ' | ' | ' | ' | ' | $122,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Inventory write up | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Inventory write up after taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Restructuring and other related charges net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131,000,000 | 27,000,000 | 28,000,000 | [1] | 3,000,000 | 4,000,000 | [2] | 10,000,000 | [2] | 4,000,000 | [2] | 19,000,000 | [3] | 5,000,000 | 7,000,000 | 2,000,000 | 14,000,000 | 6,000,000 | -8,000,000 | 9,000,000 | 2,000,000 | 4,000,000 | 16,000,000 | 1,000,000 | ' | 3,000,000 | 1,000,000 | 9,000,000 | [4] | 41,000,000 | 31,000,000 | 72,000,000 | [5] | -19,000,000 | -19,000,000 | 74,000,000 | 4,000,000 | [2] | 5,000,000 | [2] | 8,000,000 | [2] | 16,000,000 | [2] | 28,000,000 | [2] | 6,000,000 | 8,000,000 | 6,000,000 | 10,000,000 | 30,000,000 | 11,000,000 | 12,000,000 | [3] | 4,000,000 | 0 | 2,000,000 | -1,000,000 | 4,000,000 | ' | ' | ' | ' | ' | ' |
Income tax provision (benefit) | ' | ' | ' | ' | -523,000,000 | 331,000,000 | 311,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,000,000 | -30,000,000 | -651,000,000 | -31,000,000 | -93,000,000 | |||||||||||||
Restructuring and other charges | ' | ' | ' | ' | 210,000,000 | 109,000,000 | 102,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,000,000 | 44,000,000 | 49,000,000 | 118,000,000 | 0 | -24,000,000 | ' | 210,000,000 | 44,000,000 | 45,000,000 | [1] | 4,000,000 | 6,000,000 | [2] | 17,000,000 | [2] | 7,000,000 | [2] | 32,000,000 | [3] | 8,000,000 | 11,000,000 | 3,000,000 | 22,000,000 | 9,000,000 | -13,000,000 | 15,000,000 | 3,000,000 | 6,000,000 | 25,000,000 | 0 | 2,000,000 | 3,000,000 | 2,000,000 | 11,000,000 | [4] | 67,000,000 | 51,000,000 | 118,000,000 | [5] | -30,000,000 | -30,000,000 | 109,000,000 | 7,000,000 | [2] | 9,000,000 | [2] | 12,000,000 | [2] | 21,000,000 | [2] | 44,000,000 | [2] | 9,000,000 | 13,000,000 | 10,000,000 | 16,000,000 | 48,000,000 | 16,000,000 | 17,000,000 | [3] | 5,000,000 | -5,000,000 | 2,000,000 | -1,000,000 | 0 | ' | ' | ' | ' | ' | ' |
Goodwill, impairment loss | ' | ' | ' | ' | 512,000,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | 400,000,000 | ' | ' | 112,000,000 | ' | ' | 127,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Business combination, bargain purchase, gain recognized, amount | ' | ' | ' | ' | ' | ' | ' | 13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Internal restructuring | ' | ' | 2,000,000 | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Interest income, other | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | |||||||||||||
Interest income, other, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | |||||||||||||
Interest income, net of tax | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Integration related costs | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | 24,000,000 | 14,000,000 | 12,000,000 | 28,000,000 | 58,000,000 | 35,000,000 | 43,000,000 | 62,000,000 | 164,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Integration related costs, after taxes | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | 15,000,000 | 8,000,000 | 8,000,000 | 19,000,000 | 34,000,000 | 22,000,000 | 33,000,000 | 38,000,000 | 105,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Asset impairment charges | ' | 9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Asset impairment charges, net of tax | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Disposal group, not discontinued operation, gain (loss) on disposal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,000,000 | 2,000,000 | -6,000,000 | 7,000,000 | ' | ' | -1,000,000 | -1,000,000 | -19,000,000 | -9,000,000 | -3,000,000 | -29,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Disposal group, not discontinued operation, gain (loss) on disposal, after tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | 2,000,000 | -4,000,000 | 6,000,000 | ' | ' | 0 | -1,000,000 | -49,000,000 | -5,000,000 | -1,000,000 | -55,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Impairment of long-lived assets to be disposed of | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Impairment of long lived assets to be disposed of, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,000,000 | 38,000,000 | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Internal restructuring | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Medicare D deferred tax write-off tax provisions | ' | ' | 35,000,000 | -5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Environmental remediation expense | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Environmental remediation expense, net of tax | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Business combination, bargain purchase, gain recognized, net of tax | ' | ' | ' | ' | ' | $7,000,000 | ' | $13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
[1] | Includes $39 million of accelerated depreciation charges, $2 million of severance charges and $4 million of other charges which are recorded in the Consumer Packaging segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Includes $14 million of severance charges. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Includes $17 million of severance charges. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Includes $2 million of severance charges. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Includes $73 million of accelerated depreciation and other non-cash charges, $42 million of severance charges and $3 million of other charges which are recorded in the Printing Papers segment. During 2013, the Company accelerated depreciation for certain Courtland assets, and diligently evaluated certain other assets for possible alternative uses by one of our other businesses. The net book value of these assets at December 31, 2013 was approximately $470 million. During 2014, we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014. |
Schedule_II_Valuation_And_Qual2
Schedule II - Valuation And Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Doubtful Accounts - Current [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Period | $119 | $126 | $129 | |||
Additions Charged to Earnings | 45 | 17 | 18 | |||
Additions Charged to Other Accounts | 0 | 0 | 0 | |||
Deductions from Reserves | -55 | [1] | -24 | [1] | -21 | [1] |
Balance at End of Period | 109 | 119 | 126 | |||
Restructuring Reserves [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Period | 19 | 15 | 14 | |||
Additions Charged to Earnings | 63 | 31 | 25 | |||
Additions Charged to Other Accounts | 0 | 0 | 0 | |||
Deductions from Reserves | -30 | [2] | -27 | [2] | -24 | [2] |
Balance at End of Period | $52 | $19 | $15 | |||
[1] | Includes write-offs, less recoveries, of accounts determined to be uncollectible and other adjustments. | |||||
[2] | Includes payments and deductions for reversals of previously established reserves that were no longer required. |