International Paper (IP) 10-Q 30 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 23, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-03157
Entity Registrant Name	INTERNATIONAL PAPER COMPANY
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-0872805
Entity Address, Address Line One	6400 Poplar Avenue
Entity Address, City or Town	Memphis
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38197
City Area Code	901
Local Phone Number	419-7000
Title of 12(b) Security	Common Shares
Trading Symbol	IP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		391,739,284
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000051434
Current Fiscal Year End Date	--12-31

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Sales	$ 5,363	$ 5,352
Costs and Expenses
Cost of products sold	3,847	3,746
Selling and administrative expenses	361	418
Depreciation, amortization and cost of timber harvested	309	323
Distribution expenses	406	407
Taxes other than payroll and income taxes	44	44
Restructuring and other charges, net	30	8
Net (gains) losses on sales and impairments of businesses	2	344
Net (gains) losses on sales of equity method investments	(74)	(33)
Interest expense, net	92	117
Non-operating pension expense (income)	(53)	(6)
Earnings (Loss) Before Income Taxes and Equity Earnings	399	(16)
Income tax provision (benefit)	99	94
Equity earnings (loss), net of taxes	49	(31)
Net Earnings (Loss) Attributable to International Paper Company	$ 349	$ (141)
Basic Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders
Net earnings (loss)	$ 0.89	$ (0.36)
Diluted Earnings (Loss) Per Share Attributable to International Paper Company Common Shareholders
Net earnings (loss)	$ 0.88	$ (0.36)
Average Shares of Common Stock Outstanding – assuming dilution	394.8	392.6

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Earnings (Loss)	$ 349	$ (141)
Change in cumulative foreign currency translation adjustment	(143)	(544)
Net gains (losses) arising during the period	(6)	(30)
Reclassification adjustment for (gains) losses included in net earnings (loss)	3	11
Total Other Comprehensive Income (Loss), Net of Tax	(112)	(517)
Comprehensive Income (Loss)	237	(658)
Other comprehensive (income) loss attributable to noncontrolling interests	1	1
Comprehensive Income (Loss) Attributable to International Paper Company	238	(657)
U.S. plans
U.S. plans	$ 34	$ 46

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current Assets
Cash and temporary investments	$ 787	$ 595
Accounts and notes receivable, net	3,342	3,064
Contract assets	437	355
Inventories	1,828	2,050
Current financial assets of variable interest entities (Note 16)	4,850	4,850
Assets held for sale	695	138
Other current assets	228	184
Total Current Assets	12,167	11,236
Plants, Properties and Equipment, net	11,667	12,217
Forestlands	285	311
Investments	711	1,178
Long-Term Financial Assets of Variable Interest Entities (Note 16)	2,261	2,257
Goodwill	3,242	3,315
Right of Use Assets	415	459
Deferred Charges and Other Assets	729	745
Total Assets	31,477	31,718
Current Liabilities
Notes payable and current maturities of long-term debt	31	29
Accounts payable	2,354	2,320
Current nonrecourse financial liabilities of variable interest entities (Note 16)	4,220	4,220
Accrued payroll and benefits	363	466
Liabilities held for sale	334	181
Other current liabilities	1,088	1,068
Total Current Liabilities	8,390	8,284
Long-Term Debt	7,954	8,064
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 16)	2,094	2,092
Deferred Income Taxes	2,756	2,743
Pension Benefit Obligation	968	1,055
Postretirement and Postemployment Benefit Obligation	246	251
Long-Term Lease Obligations	276	315
Other Liabilities	1,022	1,046
Equity
Common stock, $1 par value, 2021 – 448.9 shares and 2020 – 448.9 shares	449	449
Paid-in capital	6,267	6,325
Retained earnings	8,214	8,070
Accumulated other comprehensive loss	(4,453)	(4,342)
Shareholders' Equity before Treasury Stock, Total	10,477	10,502
Less: Common stock held in treasury, at cost, 2021 – 57.2 shares and 2020 – 55.8 shares	2,719	2,648
Total International Paper Shareholders’ Equity	7,758	7,854
Noncontrolling interests	13	14
Total Equity	7,771	7,868
Total Liabilities and Equity	$ 31,477	$ 31,718

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2021	Dec. 31, 2020
Common stock, par value	$ 1	$ 1
Common stock, shares	448,900	448,900
Common stock held in treasury, shares	57,200	55,800

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Activities
Net earnings (loss)	$ 349	$ (141)
Depreciation, amortization and cost of timber harvested	309	323
Deferred income tax provision (benefit), net	20	35
Restructuring and other charges, net	30	8
Net (gains) losses on sales of equity method investments	(74)	(33)
Net (gains) losses on sales and impairments of businesses	2	344
Equity method dividends received	4	5
Equity (earnings) losses, net	(49)	31
Periodic pension (income) expense, net	(28)	11
Other, net	25	166
Changes in current assets and liabilities
Accounts and notes receivable	(186)	(107)
Contract assets	(83)	(33)
Inventories	93	60
Accounts payable and accrued liabilities	68	(31)
Interest payable	15	(12)
Other	17	23
Cash Provided By (Used For) Operations	512	649
Investment Activities
Invested in capital projects, net of insurance recoveries	(89)	(286)
Acquisitions, net of cash acquired	(61)	0
Proceeds from sales of equity method investments	397	250
Proceeds from sales of businesses, net of cash divested	11	0
Proceeds from sale of fixed assets	0	1
Cash Provided By (Used For) Investment Activities	258	(35)
Financing Activities
Repurchases of common stock and payments of restricted stock tax withholding	(155)	(41)
Issuance of debt	2	560
Reduction of debt	(111)	(136)
Change in book overdrafts	(19)	(9)
Dividends paid	(202)	(202)
Net debt tender premiums paid	(19)	(7)
Cash Provided By (Used For) Financing Activities	(504)	165
Cash Included in Assets Held for Sale	(54)	(9)
Effect of Exchange Rate Changes on Cash	(20)	(42)
Change in Cash and Temporary Investments	192	728
Cash and Temporary Investments
Beginning of period	595	511
End of period	$ 787	$ 1,239

BASIS OF PRESENTATION (Note)

BASIS OF PRESENTATION (Note)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description and Basis of Presentation	NOTE 1 - BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared in conformity with accounting principles generally accepted in the United States and in accordance with the instructions to Form 10-Q and, in the opinion of management, include all adjustments that are necessary for the fair presentation of International Paper Company’s (International Paper’s, the Company’s or our) financial position, results of operations, and cash flows for the interim periods presented. Except as disclosed herein, such adjustments are of a normal, recurring nature. Results for the first three months of the year may not necessarily be indicative of full year results. It is suggested that these condensed financial statements be read in conjunction with the audited financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which have previously been filed with the Securities and Exchange Commission. On March 11, 2020 the World Health Organization (WHO) declared the novel strain of coronavirus (COVID-19) a global pandemic and recommended containment and mitigation measures worldwide. Since that time, most of our manufacturing and converting facilities have remained open and operational during the pandemic. We have seen a mixed impact on demand for our products. Demand for printing papers products was significantly impacted by the pandemic, although demand recovered a bit in the first quarter of 2021. Demand for our pulp, containerboard and corrugated box products has not been negatively impacted by COVID-19 to date, but our operations in Industrial Packaging experienced higher supply chain costs due to the impacts of COVID-19.

RECENT ACCOUNTING DEVELOPMENTS

RECENT ACCOUNTING DEVELOPMENTS (Note)	3 Months Ended
	Mar. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Developments [Note Text Block]	Recently Issued Accounting Pronouncements Not Yet Adopted Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This guidance provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. This guidance is effective upon issuance and generally can be applied through December 31, 2022. The Company is currently evaluating the provisions of this guidance.

REVENUE RECOGNITION (Note)

REVENUE RECOGNITION (Note)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Generally, the Company recognizes revenue on a point-in-time basis when the customer takes title to the goods and assumes the risks and rewards for the goods. For customized goods where the Company has a legally enforceable right to payment for the goods, the Company recognizes revenue over time which, generally, is as the goods are produced. Disaggregated Revenue A geographic disaggregation of revenues across our company segmentation in the following tables provides information to assist in evaluating the nature, timing and uncertainty of revenue and cash flows and how they may be impacted by economic factors. Three Months Ended March 31, 2021 In millions Industrial Packaging Global Cellulose Fibers Printing Papers Corporate and Inter-segment Sales Total Primary Geographical Markets (a) United States $ 3,257 $ 483 $ 363 $ 47 $ 4,150 EMEA 491 70 263 (3) 821 Pacific Rim and Asia 18 28 9 4 59 Americas, other than U.S. 187 — 146 — 333 Total $ 3,953 $ 581 $ 781 $ 48 $ 5,363 Operating Segments North American Industrial Packaging $ 3,485 $ — $ — $ — $ 3,485 EMEA Industrial Packaging 396 — — — 396 European Coated Paperboard 98 — — — 98 Global Cellulose Fibers — 581 — — 581 North American Printing Papers — — 366 — 366 Brazilian Papers — — 168 — 168 European Papers — — 250 — 250 Intra-segment Eliminations (26) — (3) — (29) Corporate & Inter-segment Sales — — — 48 48 Total $ 3,953 $ 581 $ 781 $ 48 $ 5,363 (a) Net sales are attributed to countries based on the location of the seller. Three Months Ended March 31, 2020 In millions Industrial Packaging Global Cellulose Fibers Printing Papers Corporate & Intersegment Total Primary Geographical Markets (a) United States $ 3,130 $ 494 $ 444 $ 58 $ 4,126 EMEA 440 56 302 (2) 796 Pacific Rim and Asia 12 18 8 3 41 Americas, other than U.S. 237 — 154 (2) 389 Total $ 3,819 $ 568 $ 908 $ 57 $ 5,352 Operating Segments North American Industrial Packaging $ 3,355 $ — $ — $ — $ 3,355 EMEA Industrial Packaging 350 — — — 350 Brazilian Industrial Packaging 54 — — — 54 European Coated Paperboard 92 — — — 92 Global Cellulose Fibers — 568 — — 568 North American Printing Papers — — 446 — 446 Brazilian Papers — — 176 — 176 European Papers — — 287 — 287 Intra-segment Eliminations (32) — (1) — (33) Corporate & Inter-segment Sales — — — 57 57 Total $ 3,819 $ 568 $ 908 $ 57 $ 5,352 (a) Net sales are attributed to countries based on the location of the seller. Revenue Contract Balances A contract asset is created when the Company recognizes revenue on its customized products prior to having an unconditional right to payment from the customer, which generally does not occur until title and risk of loss passes to the customer. A contract liability is created when customers prepay for goods prior to the Company transferring those goods to the customer. The contract liability is reduced once control of the goods is transferred to the customer. The majority of our customer prepayments are received during the fourth quarter each year for goods that will be transferred to customers over the following twelve months. Contract liabilities of $41 million and $31 million are included in Other current liabilities in the accompanying condensed consolidated balance sheet as of March 31, 2021 and December 31, 2020, respectively. The difference between the opening and closing balances of the Company's contract assets and contract liabilities primarily results from the difference between the price and quantity at comparable points in time for goods for which we have an unconditional right to payment or receive pre-payment from the customer, respectively.

EQUITY (Note)

EQUITY (Note)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Equity [Note Text Block]	A summary of the changes in equity for the three months ended March 31, 2021 and 2020 is provided below: Three Months Ended March 31, 2021 In millions, except per share amounts Common Stock Issued Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Common Stock Held In Treasury, At Cost Total Noncontrolling Total Balance, January 1 $ 449 $ 6,325 $ 8,070 $ (4,342) $ 2,648 $ 7,854 $ 14 $ 7,868 Issuance of stock for various plans, net — (58) — — (84) 26 — 26 Repurchase of stock — — — — 155 (155) — (155) Common stock dividends $0.5125 per share) — — (205) — — (205) — (205) Transactions of equity method investees — — — — — — — — Comprehensive income (loss) — — 349 (111) — 238 (1) 237 Ending Balance, March 31 $ 449 $ 6,267 $ 8,214 $ (4,453) $ 2,719 $ 7,758 $ 13 $ 7,771 Three Months Ended March 31, 2020 In millions, except per share amounts Common Stock Issued Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Common Stock Held In Treasury, At Cost Total Noncontrolling Total Balance, January 1 $ 449 $ 6,297 $ 8,408 $ (4,739) $ 2,702 $ 7,713 $ 5 $ 7,718 Adoption of ASU 2016-13 measurement of credit losses on financial instruments — — (2) — — (2) — (2) Issuance of stock for various plans, net — (51) — — (92) 41 — 41 Repurchase of stock — — — — 41 (41) — (41) Common stock dividends ($0.5125 per share) — — (203) — — (203) — (203) Transactions of equity method investees — 6 — — — 6 — 6 Comprehensive income (loss) — — (141) (516) — (657) (1) (658) Ending Balance, March 31 $ 449 $ 6,252 $ 8,062 $ (5,255) $ 2,651 $ 6,857 $ 4 $ 6,861

OTHER COMPREHENSIVE INCOME (Not

OTHER COMPREHENSIVE INCOME (Note)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Other Comprehensive Income [Note Text Block]	The following table presents changes in accumulated other comprehensive income (AOCI) for the three months ended March 31, 2021 and 2020: Three Months Ended In millions 2021 2020 Defined Benefit Pension and Postretirement Adjustments Balance at beginning of period $ (1,880) $ (2,277) Amounts reclassified from accumulated other comprehensive income 34 46 Balance at end of period (1,846) (2,231) Change in Cumulative Foreign Currency Translation Adjustments Balance at beginning of period (2,457) (2,465) Other comprehensive income (loss) before reclassifications (143) (544) Other comprehensive income (loss) attributable to noncontrolling interest 1 1 Balance at end of period (2,599) (3,008) Net Gains and Losses on Cash Flow Hedging Derivatives Balance at beginning of period (5) 3 Other comprehensive income (loss) before reclassifications (6) (30) Amounts reclassified from accumulated other comprehensive income 3 11 Balance at end of period (8) (16) Total Accumulated Other Comprehensive Income (Loss) at End of Period $ (4,453) $ (5,255) The following table presents details of the reclassifications out of AOCI for the three months ended March 31, 2021 and 2020: In millions: Amount Reclassified from Accumulated Other Comprehensive Income Location of Amount Reclassified from AOCI Three Months Ended 2021 2020 Defined benefit pension and postretirement items: Prior-service costs $ (6) $ (5) (a) Non-operating pension expense Actuarial gains (losses) (40) (56) (a) Non-operating pension expense Total pre-tax amount (46) (61) Tax (expense) benefit 12 15 Total, net of tax (34) (46) Net gains and losses on cash flow hedging derivatives: Foreign exchange contracts (4) (17) (b) Cost of products sold Total pre-tax amount (4) (17) Tax (expense)/benefit 1 6 Net of tax (3) (11) Total reclassifications for the period $ (37) $ (57) (a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 19 for additional details). (b) This accumulated other comprehensive income component is included in our derivatives and hedging activities (see Note 18 for additional details).

EARNINGS PER SHARE ATTRIBUTABLE

EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS (Note)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share [Note Text Block]	N OTE 6 - EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS Basic earnings per share is computed by dividing earnings by the weighted average number of common shares outstanding. Diluted earnings per share is computed assuming that all potentially dilutive securities were converted into common shares. There are no adjustments required to be made to net income for purposes of computing basic and diluted earnings per share. A reconciliation of the amounts included in the computation of basic earnings (loss) per share and diluted earnings (loss) per share is as follows: Three Months Ended In millions, except per share amounts 2021 2020 Earnings (loss) attributable to International Paper Company common shareholders $ 349 $ (141) Weighted average common shares outstanding 392.8 392.6 Effect of dilutive securities (a) Restricted performance share plan 2.0 — Weighted average common shares outstanding – assuming dilution 394.8 392.6 Basic earnings (loss) per share attributable to International Paper Company Common Shareholders $ 0.89 $ (0.36) Diluted earnings (loss) per share attributable to International Paper Company Common Shareholders $ 0.88 $ (0.36) (a) Securities are not included in the table in periods when antidilutive

RESTRUCTURING AND OTHER CHARGES

RESTRUCTURING AND OTHER CHARGES (Note)	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities [Note Text Block]	NOTE 7 - RESTRUCTURING AND OTHER CHARGES, NET 2021: During the three months ended March 31, 2021, the Company recorded an $18 million pre-tax charge in Corporate related to early debt extinguishment costs and a $12 million pre-tax charge in the Industrial Packaging segment for severance related to the optimization of our EMEA Packaging business. The majority of the severance is expected to be paid over the next twelve months. 2020: During the three months ended March 31, 2020, the Company recorded an $8 million pre-tax charge in Corporate related to early debt extinguishment costs.

ACQUISITIONS (Note)

ACQUISITIONS (Note)	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	NOTE 8 - ACQUISITIONS 2021: On April 1, 2021, the Company acquired two box plants in Spain for an aggregate purchase price of €72 million (approximately $85 million based on the March 31, 2021 exchange rate), subject to final working capital and net debt adjustments. Prior to March 31, 2021, the Company made initial down payments on these acquisitions totaling $56 million, which is included in Acquisitions, net of cash acquired in the condensed consolidated stateme nt of cash flows as of March 31, 2021. In April 2021, the Company received a noncontrolling interest in a U.S-based corrugated packaging producer. In the second quarter, the Company expects to record its investment of $115 million based on the preliminary fair value of the noncontrolling interest, and a corresponding contract liability that is expected to be amortized over 15 years. The Company is party to various agreements with the entity which includes a containerboard supply agreement. The Company will account for its interest as an equity method investment. 2020: In May 2020, the Company increased its noncontrolling interest in an entity that produces corrugated sheets. The equity purchase price was $56 million. The Company is party to various agreements with the entity which includes a containerboard supply agreement. The Company is accounting for its interest as an equity method investment.

DIVESTITURES (Note)

DIVESTITURES (Note)	3 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Note Text Block]	NOTE 9 - DIVESTITURES AND IMPAIRMENTS Kwidzyn Mill 2021: On February 12, 2021, the Company entered into an agreement to sell our Kwidzyn, Poland mill for €670 million (approximately $786 million using the March 31, 2021 exchange rate) in cash, subject to final working capital and net debt adjustments. The business includes the pulp and paper mill in Kwidzyn and supporting functions. The transaction is expected to close in the second half of 2021, subject to customary closing conditions and regulatory approvals. At March 31, 2021, all assets and liabilities related to the Kwidzyn mill are classified as current assets held for sale and current liabilities held for sale in the accompanying condensed consolidated balance sheet. The following summarizes the major classes of assets and liabilities of this business reconciled to Assets held for sale and Liabilities held for sale in the accompanying condensed consolidated balance sheet. In millions March 31, 2021 Cash and temporary investments $ 54 Accounts and notes receivable 41 Inventories 75 Other current assets 9 Plants, properties and equipment 271 Goodwill 56 Right of use assets 38 Deferred charges and other assets 14 Total Assets Held for Sale 558 Accounts payable and accrued liabilities $ 57 Other current liabilities 14 Deferred income taxes 22 Long-term lease obligations 35 Other liabilities 16 Total Liabilities Held for Sale 144 Printing Papers Spinoff 2020: On December 3, 2020, the Company announced a plan to pursue a spin-off of the Company's Printing Papers segment into a standalone, publicly-traded company. The transaction will be implemented through the distribution of shares of the standalone company to International Paper shareholders. International Paper will retain up to 19.9% of the shares of the standalone company at the time of the separation, with the intent to monetize its investment and to provide additional proceeds to the Company. The Company expects the separation to be tax-free for the Company and its shareholders for U.S. federal income tax purposes and plans to complete the spin-off late in the third quarter of 2021, subject to the receipt of required regulatory approvals. Olmuksan International Paper On January 5, 2021, the Company announced that it had entered into an agreement with Mondi Group to sell its 90.38% ownership interest in Olmuksan International Paper, a corrugated packaging business in Turkey, for €66 million (approximately $78 million using the March 31, 2021 exchange rate). The transaction is expected to be completed in the second quarter of 2021, subject to customary closing conditions and regulatory approvals. In conjunction with the announced agreement in the fourth quarter of 2020, a determination was made that the current book value of the Olmuksan International Paper disposal group exceeded its estimated fair value of $79 million which was based on the agreed upon transaction price. As a result, a preliminary charge of $123 million (before and after taxes) was recorded during the fourth quarter of 2020. During the first quarter of 2021, the Company recorded an additional charge of $2 million (before and after taxes) related to the cumulative foreign currency translation loss. This charge is included in the Net (gains) losses on sales and impairments of businesses in the accompanying consolidated statement of operations and is included in the results for the Industrial Packaging segment. At March 31, 2021, all assets and liabilities related to Olmuksan International Paper are classified as current assets held for sale and current liabilities held for sale in the accompanying consolidated balance sheet. The following summarizes the major classes of assets and liabilities of Olmuksan International Paper reconciled to total Assets held for sale and total Liabilities held for sale in the accompanying consolidated balance sheet. In millions March 31, 2021 Cash and temporary investments $ 2 Accounts and notes receivable 71 Inventories 13 Other current assets 5 Plants, properties and equipment (net of impairment) 34 Goodwill 6 Deferred charges and other assets 6 Total Assets Held for Sale 137 Accounts payable and accrued liabilities 36 Other current liabilities 24 Deferred income taxes 1 Other liabilities 4 Impairment reserve 125 Total Liabilities Held for Sale 190 Brazil Industrial Packaging 2020: On October 14, 2020, the Company closed the previously announced sale of its Brazilian Industrial Packaging business for R$330 million ($58.5 million U.S. dollars), with R$280 million ($49.6 million U.S. dollars) paid at closing and R$50 million ($8.9 million U.S. dollars) to be paid one year from closing. This business includes three containerboard mills and four box plants and the agreement follows International Paper's previously announced strategic review of the Brazilian Industrial Packaging business.

SUPPLEMENTAL FINANCIAL STATEMEN

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Note)	3 Months Ended
	Mar. 31, 2021
Disclosure Text Block Supplement [Abstract]
Supplemental Financial Statement Information [Note Text Block]	NOTE 10 - SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION Temporary Investments Temporary investments with an original maturity of three months or less and money market funds with greater than three month maturities but with the right to redeem without notices are treated as cash equivalents and are stated at cost. Temporary investments totaled $491 million and $358 million at March 31, 2021 and December 31, 2020, respectively. Accounts and Notes Receivable In millions March 31, 2021 December 31, 2020 Accounts and notes receivable, net: Trade $ 2,873 $ 2,776 Other 469 288 Total $ 3,342 $ 3,064 The allowance for expected credit losses was $70 million and $76 million at March 31, 2021 and December 31, 2020, respectively. Based on the Company's accounting estimates and the facts and circumstances available as of the reporting date, we believe our allowance for expected credit losses is adequate. Inventories In millions March 31, 2021 December 31, 2020 Raw materials $ 214 $ 268 Finished pulp, paper and packaging 993 1,091 Operating supplies 571 627 Other 50 64 Total $ 1,828 $ 2,050 Plants, Properties and Equipment Accumulated depreciation was $20.7 billion and $21.4 billion at March 31, 2021 and December 31, 2020, respectively. Depreciation expense was $294 million and $309 million for the three months ended March 31, 2021 and 2020, respectively. Non-cash additions to plants, property and equipment included within accounts payable were $40 million and $41 million at March 31, 2021 and December 31, 2020, respectively. Amounts invested in capital projects in the accompanying condensed consolidated statement of cash flows are presented net of insurance recoveries of $2 million received during the three months ended March 31, 2021 and $30 million received during the three months ended March 31, 2020. Interest Interest payments made during the three months ended March 31, 2021 and 2020 were $112 million and $184 million, respectively. Amounts related to interest were as follows: Three Months Ended In millions 2021 2020 Interest expense $ 124 $ 163 Interest income 32 46 Capitalized interest costs 2 9 Asset Retirement Obligations The Company had recorded liabilities of $113 million and $116 million related to asset retirement obligations at March 31, 2021 and December 31, 2020, respectively.

LEASES (Note)

LEASES (Note)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	International Paper leases various real estate, including certain operating facilities, warehouses, office space and land. The Company also leases material handling equipment, vehicles, and certain other equipment. The Company's leases have remaining lease terms of one year to 33 years. Total lease cost was $72 million and $67 million for the three months ended March 31, 2021 and 2020. Supplemental Balance Sheet Information Related to Leases In millions Classification March 31, 2021 December 31, 2020 Assets Operating lease assets Right-of-use assets $ 415 $ 459 Finance lease assets Plants, properties and equipment, net (a) 93 95 Total leased assets $ 508 $ 554 Liabilities Current Operating Other current liabilities $ 143 $ 148 Finance Notes payable and current maturities of long-term debt 12 13 Noncurrent Operating Long-term lease obligations 276 315 Finance Long-term debt 80 82 Total lease liabilities $ 511 $ 558 (a) Finance leases are recorded net of accumulated amortization of $55 million and $53 million as of March 31, 2021 and December 31, 2020, respectively.

EQUITY METHOD INVESTMENTS (Note

EQUITY METHOD INVESTMENTS (Note)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 12 - EQUITY METHOD INVESTMENTS The Company accounts for the following investments under the equity method of accounting. Graphic Packaging International Partners, LLC The Company completed the transfer of its North American Consumer Packaging business in exchange for an initial 20.5% ownership interest (79,911,511 units) in Graphic Packaging International Partners, LLC (GPIP) in 2018. On January 29, 2020, the Company exchanged 15,150,784 units of the aggregate units owned by the Company for an aggregated price of $250 million, resulting in a pre-tax gain of $33 million ($25 million after taxes) which was recorded in the first quarter of 2020. On August 7, 2020, the Company exchanged 17,399,414 units of the aggregate units owned by the Company for an aggregated price of $250 million, resulting in an immaterial gain which was recorded in the third quarter of 2020. On February 16, 2021, the Company exchanged 15,307,000 units of the aggregate units owned by the Company for 15,307,000 shares of Graphic Packaging stock. The Company sold the shares in open market transactions for approximately $247 million. Additionally, on February 16, 2021, the Company exchanged 9,281,316 units of the aggregate units owned by the Company for an aggregated price of $150 million. These transactions resulted in a pre-tax gain of $74 million ($56 million after taxes) which was recorded in the first quarter of 2021 and are comprised of a pre-tax gain of $33 million related to the units and shares transactions and a pre-tax gain of $41 million related to the 2018 Tax Receivable Agreement ("TRA") with GPIP. The TRA entitles the Company to 50% of the amount of any tax benefits projected to be realized by GPIP upon the Company's exchange of its units. This amount is recorded in other receivables and is expected to be received within the next 12 months. Additional exchanges of our units will most likely result in additional gains being recognized related to this TRA, but the timing and amounts of those gains are dependent upon the timing of future exchanges. As of March 31, 2021, the Company's ownership interest in GPIP was 7.4%. The Company recorded equity earnings of $1 million and $7 million for the three months ended March 31, 2021 and 2020, respectively. The Company received cash dividends from GPIP of $4 million and $5 million during the first three months of 2021 and 2020, respectively. The Company's investment in GPIP was $336 million and $702 million at March 31, 2021 and December 31, 2020, respectively, which was $167 million and $345 million, respectively, more than the Company's proportionate share of the entity's underlying net assets. The difference primarily relates to the basis difference between the fair value of our investment and the underlying net assets, and is generally amortized in equity earnings over a period consistent with the underlying long-lived assets. The Company is party to various agreements with GPI under which it sells fiber and other products to GPI. Sales under these agreements were $56 million and $70 million for the three months ended March 31, 2021 and 2020, respectively. Summarized financial information for GPIP is presented in the following tables: Balance Sheet In millions March 31, 2021 December 31, 2020 Current assets $ 1,904 $ 2,011 Noncurrent assets 5,835 5,784 Current liabilities 1,241 1,827 Noncurrent liabilities 4,224 3,594 Income Statement Three Months Ended In millions 2021 2020 Net sales $ 1,649 $ 1,599 Gross profit 249 321 Income (loss) from continuing operations 77 (24) Net income (loss) 77 (24) Ilim S.A. The Company has a 50% equity interest in Ilim S.A. (Ilim), which has subsidiaries whose primary operations are in Russia. The Company recorded equity earnings (losses), net of taxes, of $49 million and $(35) million for the three months ended March 31, 2021 and 2020, respectively. Equity earnings (losses) included an after-tax foreign exchange loss of $2 million and $51 million for the three months ended March 31, 2021 and 2020, respectively, primarily on the remeasurement of U.S. dollar-denominated net debt. At March 31, 2021 and December 31, 2020, the Company's investment in Ilim was $291 million and $393 million, respectively, which was $125 million and $127 million, respectively, more than the Company's proportionate share of the joint venture's underlying net assets. The differences primarily relate to currency translation adjustments and the basis difference between the fair value of our investment at acquisition and the underlying net assets. The Company is party to a joint marketing agreement with JSC Ilim Group, a subsidiary of Ilim, under which the Company purchases, markets and sells paper produced by JSC Ilim Group. Purchases under this agreement were $41 million and $51 million for the three months ended March 31, 2021 and 2020, respectively. Summarized financial information for Ilim is presented in the following tables: Balance Sheet In millions March 31, 2021 December 31, 2020 Current assets $ 925 $ 739 Noncurrent assets 2,737 2,733 Current liabilities 856 674 Noncurrent liabilities 2,456 2,249 Noncontrolling interests 19 17 Income Statement Three Months Ended In millions 2021 2020 Net sales $ 531 $ 482 Gross profit 248 195 Income (loss) from continuing operations 103 (61) Net income (loss) 100 (58) The Company's remaining equity method investments are not material.

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Note)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles [Note Text Block]	Goodwill The following table presents changes in goodwill balances as allocated to each business segment for the three-months ended March 31, 2021: In millions Industrial Global Cellulose Fibers Printing Total Balance as of January 1, 2021 Goodwill $ 3,410 $ 52 $ 1,966 $ 5,428 Accumulated impairment losses (296) (52) (1,765) (2,113) 3,114 — 201 3,315 Currency translation and other (a) (3) — (14) (17) Goodwill additions/reductions — — (56) (b) (56) Accumulated impairment loss additions / reductions — — — — Balance as of March 31, 2021 Goodwill 3,407 52 1,896 5,355 Accumulated impairment losses (296) (52) (1,765) (2,113) Total $ 3,111 $ — $ 131 $ 3,242 (a) Represents the effects of foreign currency translations. (b) Represents Kwidzyn held for sale in EMEA. Other Intangibles Identifiable intangible assets comprised the following: March 31, 2021 December 31, 2020 In millions Gross Accumulated Net Intangible Assets Gross Accumulated Net Intangible Assets Customer relationships and lists $ 535 $ 296 $ 239 $ 542 $ 294 $ 248 Tradenames, patents and trademarks, and developed technology 170 120 50 170 117 53 Land and water rights 8 2 6 8 2 6 Software 17 17 — 25 24 1 Other 15 11 4 19 10 9 Total $ 745 $ 446 $ 299 $ 764 $ 447 $ 317 The Company recognized the following amounts as amortization expense related to intangible assets: Three Months Ended In millions 2021 2020 Amortization expense related to intangible assets $ 12 $ 10

INCOME TAXES (Note)

INCOME TAXES (Note)	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes [Note Text Block]	International Paper made income tax payments, net of refunds, of $17 million and $16 million for the three months ended March 31, 2021 and 2020, respectively. The Company currently estimates, that as a result of ongoing discussions, pending tax settlements and expirations of statutes of limitations, the amount of unrecognized tax benefits could be reduced by approximately $5 million during the next 12 months. The Brazilian Federal Revenue Service has challenged the deductibility of goodwill amortization generated in a 2007 acquisition by International Paper do Brasil Ltda., a wholly-owned subsidiary of the Company. The Company received assessments for the tax years 2007-2015 totaling approximately $105 million in tax, and $338 million in interest, penalties, and

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Note)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies [Note Text Block]	NOTE 15 - COMMITMENTS AND CONTINGENCIES Environmental International Paper has been named as a potentially responsible party (PRP) in environmental remediation actions under various federal and state laws, including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). Many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources. While joint and several liability is authorized under CERCLA and equivalent state laws, as a practical matter, liability for CERCLA cleanups is typically allocated among the many PRPs. There are other remediation costs typically associated with the cleanup of hazardous substances at the Company’s current, closed or formerly-owned facilities, and recorded as liabilities in the balance sheet. Remediation costs are recorded in the consolidated financial statements when they become probable and reasonably estimable. International Paper has estimated the probable liability associated with these environmental remediation matters, including those described herein, to be approximately $189 million ($198 million undiscounted) in the aggregate as of March 31, 2021. Other than as described below, completion of required remedial actions is not expected to have a material effect on our consolidated financial statements. Cass Lake: One of the matters included above arises out of a closed wood-treatment facility located in Cass Lake, Minnesota. In June 2011, the United States Environmental Protection Agency (EPA) selected and published a proposed soil remedy at the site with an estimated cost of $46 million. In April 2020, the EPA issued a final plan concerning clean-up standards at a portion of the site, the estimated cost of which is included within the reserve referenced above. In October 2012, the Natural Resource Trustees for this site provided notice to International Paper and other PRPs 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, in excess of the applicable reserve referenced above, which may be incurred. Kalamazoo River: The Company is a PRP with respect to the Allied Paper, Inc./Portage Creek/Kalamazoo River Superfund Site in Michigan. The EPA asserts that the site is contaminated by polychlorinated biphenyls (PCBs) primarily as a result of discharges from various paper mills located along the Kalamazoo River, including a paper mill (the Allied Paper Mill) formerly owned by St. Regis Paper Company (St. Regis). The Company is a successor in interest to St. Regis. • Operable Unit 5, Area 1: In March 2016, the Company and other PRPs received a special notice letter from the EPA (i) inviting participation in implementing a remedy for a portion of the site known as Operable Unit 5, Area 1, and (ii) demanding reimbursement of EPA past costs totaling $37 million, including $19 million in past costs previously demanded by the EPA. The Company responded to the special notice letter. In December 2016, the EPA issued a unilateral administrative order to the Company and other PRPs to perform the remedy. The Company responded to the unilateral administrative order, agreeing to comply with the order subject to its sufficient cause defenses. • Operable Unit 1: In October 2016, the Company and another PRP received a special notice letter from the EPA inviting participation in the remedial design component of the landfill remedy for the Allied Paper Mill, which is also known as Operable Unit 1. The Record of Decision establishing the final landfill remedy for the Allied Paper Mill was issued by the EPA in September 2016. The Company responded to the Allied Paper Mill special notice letter in December 2016. In February 2017, the EPA informed the Company that it would make other arrangements for the performance of the remedial design. In addition, in December 2019, the United States published notice in the Federal Register of a proposed consent decree with NCR Corporation (one of the parties to the allocation/apportionment litigation described below), the State of Michigan and natural resource trustees under which NCR would make payments of more than $100 million and perform work in Operable Unit 5, Areas 2, 3, and 4 at an estimated cost of $135.7 million. In December 2020, the Federal District Court approved the proposed consent decree. The Company’s CERCLA liability has not been finally determined with respect to these or any other portions of the site, and except as noted above, the Company has declined to perform any work or reimburse the EPA at this time. As noted below, the Company is involved in allocation/apportionment litigation with regard to the site. Accordingly, it is premature to predict the outcome or estimate our maximum reasonably possible loss or range of loss with respect to this site. We have recorded a liability for future remediation costs at the site that are probable and reasonably estimable, and it remains reasonably possible that additional losses in excess of this recorded liability could be material. 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. NCR Corporation and Weyerhaeuser Company are also named as defendants in the suit. The suit seeks contribution under CERCLA for costs purportedly expended by plaintiffs ($79 million as of the filing of the complaint) and for future remediation costs. In June 2018, the Court issued its Final Judgment and Order, which fixed the past cost amount at approximately $50 million (plus interest to be determined) and allocated to the Company a 15% share of responsibility for those past costs. The Court did not address responsibility for future costs in its decision. In July 2018, the Company and each of the other parties filed notices appealing the Final Judgment and prior orders incorporated into that Judgment. The Company appeal is pending. Harris County: International Paper and McGinnis Industrial Maintenance Corporation (MIMC), a subsidiary of Waste Management, Inc. (WMI), are PRPs at the San Jacinto River Waste Pits Superfund Site in Harris County, Texas. The PRPs have been actively participating in the activities at the site and share the costs of these activities. In October 2017, the EPA issued a Record of Decision (ROD) selecting the final remedy for the site: removal and relocation of the waste material from both the northern and southern impoundments. The EPA did not specify the methods or practices needed to perform this work. The EPA’s selected remedy was accompanied by a cost estimate of approximately $115 million ($105 million for the northern impoundment, and $10 million for the southern impoundment). Subsequent to the issuance of the ROD, there have been numerous meetings between the EPA and the PRPs, and the Company continues to work with the EPA and MIMC/WMI to develop the remedial design. To this end, in April 2018, the PRPs entered into an Administrative Order on Consent (AOC) with the EPA, agreeing to work together to develop the remedial design for the northern impoundment. That remedial design work is ongoing. The AOC does not include any agreement to perform waste removal or other construction activity at the site. Rather, it involves adaptive management techniques and a pre-design investigation, the objectives of which include filling data gaps (including but not limited to post-Hurricane Harvey technical data generated prior to the ROD and not incorporated into the selected remedy), refining areas and volumes of materials to be addressed, determining if an excavation remedy is able to be implemented in a manner protective of human health and the environment, and investigating potential impacts of remediation activities to infrastructure in the vicinity. During the first quarter of 2020, through a series of meetings among the Company, MIMC/WMI, our consultants, the EPA and the Texas Commission on Environmental Quality (TCEQ), progress was made to resolve key technical issues previously preventing the Company from determining the manner in which the selected remedy for the northern impoundment would be feasibly implemented. As a result of these developments, as of September 30, 2020, the Company has reserved the following amounts in relation to remediation at this site: (a) $10 million for the southern impoundment; and (b) $55 million for the northern impoundment, which represents the Company's 50% share of our estimate of the low end of the range of probable remediation costs. Although several key technical issues have been resolved, we still face significant challenges remediating the northern impoundment in a cost-efficient manner and without a release to the environment and therefore our discussions with the EPA on the best approach to remediation will continue. Because of ongoing questions regarding cost effectiveness, timing and gathering other technical data, additional losses in excess of our recorded liability are possible. We have submitted the Final Design Package for the southern impoundment to EPA, and EPA approval of this plan is anticipated shortly. We are currently unable to reasonably estimate any further adjustment to our recorded liability or any loss or range of loss in excess of such liability; however, we believe it is unlikely any adjustment would be material. Asbestos-Related Matters We have been named as a defendant in various asbestos-related personal injury litigation, in both state and federal court, primarily in relation to the prior operations of certain companies previously acquired by the Company. As of March 31, 2021, the Company's total recorded liability with respect to pending and future asbestos-related claims was $114 million, net of estimated insurance recoveries. While it is reasonably possible that the Company may incur losses in excess of its recorded liability with respect to asbestos-related matters, we do not believe additional material losses are probable. Antitrust Italy: In March 2017, the Italian Competition Authority (ICA) commenced an investigation into the Italian packaging industry to determine whether producers of corrugated sheets and boxes violated the applicable European competition law. In April 2019, the ICA concluded its investigation and issued initial findings alleging that over 30 producers, including our Italian packaging subsidiary (IP Italy), improperly coordinated the production and sale of corrugated sheets and boxes. On August 6, 2019, the ICA issued its decision and assessed IP Italy a fine of €29 million (approximately $32 million at current exchange rates) which was recorded in the third quarter of 2019. However, we are vigorously appealing this decision of the ICA to the Italian courts and have numerous and strong bases for our appeal. Taxes Other Than Payroll Taxes In 2017, the Brazilian Federal Supreme Court decided that the state value-added tax (VAT) should not be included in the basis of federal VAT calculations. In 2018 and 2019, the Brazilian tax authorities published both an internal consultation and a normative ruling with a narrow interpretation of the effects of the case. We have determined that any related federal VAT refunds should be recognized when they are both probable and reasonably estimable. Based upon the best information available to us, we have determined that the amount of refund that is probable of being realized is limited to that determined by the tax authorities' narrow interpretation, for which we have recognized a receivable of $11 million as of March 31, 2021. It is possible that future court decisions and guidance from the tax authorities could expand the scope of the federal VAT refunds. General

VARIABLE INTEREST ENTITIES (Not

VARIABLE INTEREST ENTITIES (Note)	3 Months Ended
	Mar. 31, 2021
Variable Interest Entities [Abstract]
Variable Interest Entity Disclosure	Variable Interest Entities As of March 31, 2021, the fair value of the Timber Notes and Extension Loans was $4.9 billion and $4.2 billion, respectively, for the 2015 Financing Entities. The Timber Notes and Extension Loans are classified as Level 2 within the fair value hierarchy, which is further defined in Note 17 in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The Timber Notes of $4.8 billion mature in August 2021. The Extension Loans of $4.2 billion were extended in the fourth quarter of 2020 to extend the maturity dates to August 2021. The Timber Notes and Extension Loans are shown in Current nonrecourse financial assets of variable interest entities and Current nonrecourse financial liabilities of variable interest entities, respectively, on the accompanying balance sheet. We will settle the third-party loans at their maturity in August 2021 with the proceeds from the installment notes which also mature in August 2021 resulting in expected cash proceeds of approximately $0.6 billion representing our equity in the variable interest entities. Maturity of the installment notes and termination of the monetization structure is expected to result in a $75 million cash tax payment in 2021. Activity between the Company and the 2015 Financing Entities was as follows: Three Months Ended In millions 2021 2020 Revenue (a) $ 24 $ 24 Expense (a) 13 32 Cash receipts (b) 47 47 Cash payments (c) 14 64 (a) The revenue and expense are included in Interest expense, net in the accompanying statement of operations. (b) The cash receipts are interest received on the Financial assets of special purpose entities. (c) The cash payments represent interest paid on Nonrecourse financial liabilities of special purpose entities. As of March 31, 2021, the fair value of the Timber Notes and Extension Loans was $2.3 billion and $2.1 billion, respectively, for the 2007 Financing Entities. The Timber Notes and Extension Loans are classified as Level 2 within the fair value hierarchy, which is further defined in Note 17 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Activity between the Company and the 2007 Financing Entities was as follows: Three Months Ended In millions 2021 2020 Revenue (a) $ 7 $ 16 Expense (b) 6 16 Cash receipts (c) 2 12 Cash payments (d) 4 15 (a) The revenue is included in Interest expense, net in the accompanying statement of operations and includes approximately $5 million for both of the three months ended March 31, 2021 and 2020 of accretion income for the amortization of the basis difference adjustment on the Financial assets of special purpose entities. (b) The expense is included in Interest expense, net in the accompanying statement of operations and includes approximately $2 million for both the three months ended March 31, 2021 and 2020, of accretion expense for the amortization of the basis difference 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 (Note)

DEBT (Note)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt [Note Text Block]	The borrowing capacity of the Company's commercial paper program is $1.0 billion. Under the terms of the program, individual maturities on borrowings may vary, but not exceed one year from the date of issue. Interest bearing notes may be issued either as fixed or floating rate notes. As of March 31, 2021, the Company had no borrowings outstanding under the program. At March 31, 2021, International Paper’s credit facilities totaled $2.1 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 December 2022. The liquidity facilities also include up to $550 million of uncommitted financings based on eligible receivables balances under a receivables securitization program. In February of 2021 after considering the Company’s liquidity position in relation to COVID-19 and the current macroeconomic environment, the Company amended the receivable securitization program from a committed financing arrangement to an uncommitted financing arrangement. The borrowing limit of up to $550 million based on eligible receivables balances and the expiration date in April 2022 remained unchanged from the previous agreement. At March 31, 2021, there were no borrowings under either the bank facility or receivables securitization program. In March 2020, the Company entered into a $750 million contractually committed 364-day revolving credit agreement with a syndicate of banks and other financial institutions which augmented the Company's access to liquidity due to the macroeconomic conditions related to COVID-19 and supplemented the Company's $1.5 billion credit agreement. After considering the Company’s liquidity position in relation to COVID-19 and the current macroeconomic environment, the company determined not to extend the $750 million credit agreement after its expiration on March 24, 2021. The Company’s early debt reductions in the first quarter of 2021 were open market repurchases of approximately $107 million related to debt with interest rates ranging from 3.00% to 4.80% and maturities dates from 2027 to 2048. The Company’s financial covenants require the maintenance of a minimum net worth, as defined in our debt agreements, of $9 billion and a total debt-to-capital ratio of less than 60%. Net worth is defined as the sum of common stock, paid-in capital and retained earnings, less treasury stock plus any cumulative goodwill impairment charges. The calculation also excludes accumulated other comprehensive income/loss and both the current and long-term Nonrecourse Financial Liabilities of Variable Interest Entities. The total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth. As of March 31, 2021, we were in compliance with our debt covenants. At March 31, 2021, the fair value of International Paper’s $8.0 billion of debt was approximately $9.6 billion. The fair value of the Company’s long-term debt is estimated based on the quoted market prices for the same or similar issues. International Paper’s long-term debt is classified as Level 2 within the fair value hierarchy, which is further defined in Note 17 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES (Note)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities [Note Text Block]	As a multinational company International Paper is exposed to market risks, such as changes in interest rates, currency exchange rates and commodity prices. The notional amounts of qualifying and non-qualifying financial instruments used in hedging transactions were as follows: In millions March 31, 2021 December 31, 2020 Derivatives in Cash Flow Hedging Relationships: Foreign exchange contracts (USD) $ 112 $ 85 Foreign exchange contracts (EUR) 192 187 Derivatives in Net Investment Hedging Relationships: Foreign exchange contracts (EUR) 670 — Derivatives Not Designated as Hedging Instruments: Electricity contract (MWh) 0.2 0.2 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) Three Months Ended In millions 2021 2020 Derivatives in Cash Flow Hedging Relationships: Foreign exchange contracts $ (6) $ (30) Total $ (6) $ (30) Derivatives in Net Investment Hedging Relationships: Foreign exchange contracts $ 17 $ — Interest rate contracts — 20 Total $ 17 $ 20 During the next 12 months, the amount of the March 31, 2021 AOCI balance, after tax, that is expected to be reclassified to earnings is a loss of $5 million. The amounts of gains and losses recognized in the statement of operations on qualifying and non-qualifying financial instruments used in hedging transactions were as follows: Gain (Loss) Reclassified from AOCI Into Income (Effective Portion) Location of Gain (Loss) Three Months Ended In millions 2021 2020 Derivatives in Cash Flow Hedging Relationships: Foreign exchange contracts $ (3) $ (11) Cost of products sold Total $ (3) $ (11) Gain (Loss) Recognized in Income Location of Gain (Loss) Three Months Ended In millions 2021 2020 Derivatives in Fair Value Hedging Relationships: Interest rate contracts $ — $ 38 Interest expense, net Debt — (38) Interest expense, net Total $ — $ — Derivatives Not Designated as Hedging Instruments: Electricity contract $ 2 $ (3) Cost of products sold Total $ 2 $ (3) Fair Value Measurements The Company has not changed its valuation techniques for measuring the fair value of any financial assets or liabilities during the year. Transfers between levels, if any, are recognized at the end of the reporting period. The following table provides a summary of the impact of our derivative instruments in the balance sheet: Fair Value Measurements Level 2 – Significant Other Observable Inputs Assets Liabilities In millions March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Derivatives designated as hedging instruments Foreign exchange contracts – cash flow $ 3 $ 5 $ 13 $ 8 Foreign exchange contracts - net investment 28 — — — Total derivatives designated as hedging instruments 31 5 13 8 Derivatives not designated as hedging instruments Electricity contract 1 — — 1 Total derivatives not designated as hedging instruments 1 — — 1 Total derivatives $ 32 (a) $ 5 (a) $ 13 (b) $ 9 (c) (a) Included in Other current assets in the accompanying consolidated balance sheet. (b) Includes $11 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet. (c) Includes $7 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet.

RETIREMENT PLANS (Note)

RETIREMENT PLANS (Note)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [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 and hourly and union employees who work at a participating business unit. 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). Effective January 1, 2019, the Company froze participation, including credited service and compensation, for salaried employees under the Pension Plan, the Pension Restoration Plan and the SERP plan. This change does not affect benefits accrued through December 31, 2018. For service after December 31, 2018, employees affected by the freeze receive a company contribution to their individual Retirement Savings Account. Net periodic pension (income) expense for our qualified and nonqualified U.S. defined benefit plans comprised the following: Three Months Ended In millions 2021 2020 Service cost $ 27 $ 20 Interest cost 83 98 Expected return on plan assets (183) (167) Actuarial loss 39 55 Amortization of prior service cost 6 5 Net periodic pension (income) expense $ (28) $ 11 The components of net periodic pension (income) expense other than the Service cost component are included in Non-operating pension (income) expense in the Consolidated Statement of Operations. The Company’s funding policy for our pension plans 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 plan, tax deductibility, the cash flows generated by the Company, and other factors. The Company made no voluntary cash contributions to the qualified pension plan in the first three months of 2021 or 2020. The nonqualified defined benefit plans are funded to the extent of benefit payments, which totaled $5 million for the three months ended March 31, 2021.

STOCK-BASED COMPENSATION (Note)

STOCK-BASED COMPENSATION (Note)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation [Note Text Block]	International Paper has an Incentive Compensation Plan (ICP) which is administered by the Management Development and Compensation Committee of the Board of Directors (the Committee). The ICP authorizes the 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 Committee. As of March 31, 2021, 7.2 million shares were available for grant under the ICP. Stock-based compensation expense and related income tax benefits were as follows: Three Months Ended In millions 2021 2020 Total stock-based compensation expense (selling and administrative) $ 14 $ 26 Income tax benefits related to stock-based compensation 17 17 At March 31, 2021, $125 million, net of estimated forfeitures, of compensation cost related to unvested restricted performance shares, executive continuity awards and restricted stock attributable to future service had not yet been recognized. This amount will be recognized in expense over a weighted-average period of 2.2 years. Performance Share Plan During the first three months of 2021, the Company granted 2.0 million performance units at an average grant date fair value of $53.15.

INDUSTRY SEGMENT INFORMATION (N

INDUSTRY SEGMENT INFORMATION (Note)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	International Paper’s business segments, Industrial Packaging, Global Cellulose Fibers and Printing Papers, 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. Business segment operating profits are used by International Paper's management to measure the earnings performance of its businesses. Management believes that this measure allows a better understanding of trends in costs, operating efficiencies, prices and volumes. Business segment operating profits are defined as earnings (loss) before income taxes and equity earnings, but including the impact of noncontrolling interests, excluding interest expense, net, corporate items, net, corporate net special items, business net special items and non-operating pension expense. Net sales by business segment for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended In millions 2021 2020 Industrial Packaging $ 3,953 $ 3,819 Global Cellulose Fibers 581 568 Printing Papers 781 908 Corporate and Intersegment Sales 48 57 Net Sales $ 5,363 $ 5,352 Operating profit (loss) by business segment for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended In millions 2021 2020 Industrial Packaging $ 447 $ 470 Global Cellulose Fibers (82) (54) Printing Papers 80 96 Business Segment Operating Profits $ 445 $ 512 Earnings (loss) before income taxes and equity earnings $ 399 $ (16) Interest expense, net 92 117 Noncontrolling interests adjustment (1) — Corporate expenses, net 25 32 Corporate net special items (31) 33 Business net special items 14 352 Non-operating pension expense (income) (53) (6) Business Segment Operating Profits $ 445 $ 512

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	A geographic disaggregation of revenues across our company segmentation in the following tables provides information to assist in evaluating the nature, timing and uncertainty of revenue and cash flows and how they may be impacted by economic factors. Three Months Ended March 31, 2021 In millions Industrial Packaging Global Cellulose Fibers Printing Papers Corporate and Inter-segment Sales Total Primary Geographical Markets (a) United States $ 3,257 $ 483 $ 363 $ 47 $ 4,150 EMEA 491 70 263 (3) 821 Pacific Rim and Asia 18 28 9 4 59 Americas, other than U.S. 187 — 146 — 333 Total $ 3,953 $ 581 $ 781 $ 48 $ 5,363 Operating Segments North American Industrial Packaging $ 3,485 $ — $ — $ — $ 3,485 EMEA Industrial Packaging 396 — — — 396 European Coated Paperboard 98 — — — 98 Global Cellulose Fibers — 581 — — 581 North American Printing Papers — — 366 — 366 Brazilian Papers — — 168 — 168 European Papers — — 250 — 250 Intra-segment Eliminations (26) — (3) — (29) Corporate & Inter-segment Sales — — — 48 48 Total $ 3,953 $ 581 $ 781 $ 48 $ 5,363 (a) Net sales are attributed to countries based on the location of the seller. Three Months Ended March 31, 2020 In millions Industrial Packaging Global Cellulose Fibers Printing Papers Corporate & Intersegment Total Primary Geographical Markets (a) United States $ 3,130 $ 494 $ 444 $ 58 $ 4,126 EMEA 440 56 302 (2) 796 Pacific Rim and Asia 12 18 8 3 41 Americas, other than U.S. 237 — 154 (2) 389 Total $ 3,819 $ 568 $ 908 $ 57 $ 5,352 Operating Segments North American Industrial Packaging $ 3,355 $ — $ — $ — $ 3,355 EMEA Industrial Packaging 350 — — — 350 Brazilian Industrial Packaging 54 — — — 54 European Coated Paperboard 92 — — — 92 Global Cellulose Fibers — 568 — — 568 North American Printing Papers — — 446 — 446 Brazilian Papers — — 176 — 176 European Papers — — 287 — 287 Intra-segment Eliminations (32) — (1) — (33) Corporate & Inter-segment Sales — — — 57 57 Total $ 3,819 $ 568 $ 908 $ 57 $ 5,352 (a) Net sales are attributed to countries based on the location of the seller.

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Stockholders' Equity [Table Text Block]	Three Months Ended March 31, 2021 In millions, except per share amounts Common Stock Issued Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Common Stock Held In Treasury, At Cost Total Noncontrolling Total Balance, January 1 $ 449 $ 6,325 $ 8,070 $ (4,342) $ 2,648 $ 7,854 $ 14 $ 7,868 Issuance of stock for various plans, net — (58) — — (84) 26 — 26 Repurchase of stock — — — — 155 (155) — (155) Common stock dividends $0.5125 per share) — — (205) — — (205) — (205) Transactions of equity method investees — — — — — — — — Comprehensive income (loss) — — 349 (111) — 238 (1) 237 Ending Balance, March 31 $ 449 $ 6,267 $ 8,214 $ (4,453) $ 2,719 $ 7,758 $ 13 $ 7,771 Three Months Ended March 31, 2020 In millions, except per share amounts Common Stock Issued Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Common Stock Held In Treasury, At Cost Total Noncontrolling Total Balance, January 1 $ 449 $ 6,297 $ 8,408 $ (4,739) $ 2,702 $ 7,713 $ 5 $ 7,718 Adoption of ASU 2016-13 measurement of credit losses on financial instruments — — (2) — — (2) — (2) Issuance of stock for various plans, net — (51) — — (92) 41 — 41 Repurchase of stock — — — — 41 (41) — (41) Common stock dividends ($0.5125 per share) — — (203) — — (203) — (203) Transactions of equity method investees — 6 — — — 6 — 6 Comprehensive income (loss) — — (141) (516) — (657) (1) (658) Ending Balance, March 31 $ 449 $ 6,252 $ 8,062 $ (5,255) $ 2,651 $ 6,857 $ 4 $ 6,861

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table presents changes in accumulated other comprehensive income (AOCI) for the three months ended March 31, 2021 and 2020: Three Months Ended In millions 2021 2020 Defined Benefit Pension and Postretirement Adjustments Balance at beginning of period $ (1,880) $ (2,277) Amounts reclassified from accumulated other comprehensive income 34 46 Balance at end of period (1,846) (2,231) Change in Cumulative Foreign Currency Translation Adjustments Balance at beginning of period (2,457) (2,465) Other comprehensive income (loss) before reclassifications (143) (544) Other comprehensive income (loss) attributable to noncontrolling interest 1 1 Balance at end of period (2,599) (3,008) Net Gains and Losses on Cash Flow Hedging Derivatives Balance at beginning of period (5) 3 Other comprehensive income (loss) before reclassifications (6) (30) Amounts reclassified from accumulated other comprehensive income 3 11 Balance at end of period (8) (16) Total Accumulated Other Comprehensive Income (Loss) at End of Period $ (4,453) $ (5,255)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The following table presents details of the reclassifications out of AOCI for the three months ended March 31, 2021 and 2020: In millions: Amount Reclassified from Accumulated Other Comprehensive Income Location of Amount Reclassified from AOCI Three Months Ended 2021 2020 Defined benefit pension and postretirement items: Prior-service costs $ (6) $ (5) (a) Non-operating pension expense Actuarial gains (losses) (40) (56) (a) Non-operating pension expense Total pre-tax amount (46) (61) Tax (expense) benefit 12 15 Total, net of tax (34) (46) Net gains and losses on cash flow hedging derivatives: Foreign exchange contracts (4) (17) (b) Cost of products sold Total pre-tax amount (4) (17) Tax (expense)/benefit 1 6 Net of tax (3) (11) Total reclassifications for the period $ (37) $ (57) (a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 19 for additional details). (b) This accumulated other comprehensive income component is included in our derivatives and hedging activities (see Note 18 for additional details).

EARNINGS PER SHARE ATTRIBUTAB_2

EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	A reconciliation of the amounts included in the computation of basic earnings (loss) per share and diluted earnings (loss) per share is as follows: Three Months Ended In millions, except per share amounts 2021 2020 Earnings (loss) attributable to International Paper Company common shareholders $ 349 $ (141) Weighted average common shares outstanding 392.8 392.6 Effect of dilutive securities (a) Restricted performance share plan 2.0 — Weighted average common shares outstanding – assuming dilution 394.8 392.6 Basic earnings (loss) per share attributable to International Paper Company Common Shareholders $ 0.89 $ (0.36) Diluted earnings (loss) per share attributable to International Paper Company Common Shareholders $ 0.88 $ (0.36) (a) Securities are not included in the table in periods when antidilutive

DIVESTITURES (Tables)

DIVESTITURES (Tables)	3 Months Ended
	Mar. 31, 2021
Kwidzyn Mill
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The following summarizes the major classes of assets and liabilities of this business reconciled to Assets held for sale and Liabilities held for sale in the accompanying condensed consolidated balance sheet. In millions March 31, 2021 Cash and temporary investments $ 54 Accounts and notes receivable 41 Inventories 75 Other current assets 9 Plants, properties and equipment 271 Goodwill 56 Right of use assets 38 Deferred charges and other assets 14 Total Assets Held for Sale 558 Accounts payable and accrued liabilities $ 57 Other current liabilities 14 Deferred income taxes 22 Long-term lease obligations 35 Other liabilities 16 Total Liabilities Held for Sale 144
Olmuksan
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The following summarizes the major classes of assets and liabilities of Olmuksan International Paper reconciled to total Assets held for sale and total Liabilities held for sale in the accompanying consolidated balance sheet. In millions March 31, 2021 Cash and temporary investments $ 2 Accounts and notes receivable 71 Inventories 13 Other current assets 5 Plants, properties and equipment (net of impairment) 34 Goodwill 6 Deferred charges and other assets 6 Total Assets Held for Sale 137 Accounts payable and accrued liabilities 36 Other current liabilities 24 Deferred income taxes 1 Other liabilities 4 Impairment reserve 125 Total Liabilities Held for Sale 190

SUPPLEMENTAL FINANCIAL STATEM_2

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Disclosure Text Block Supplement [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Accounts and Notes Receivable In millions March 31, 2021 December 31, 2020 Accounts and notes receivable, net: Trade $ 2,873 $ 2,776 Other 469 288 Total $ 3,342 $ 3,064
Inventories [Table Text Block]	Inventories In millions March 31, 2021 December 31, 2020 Raw materials $ 214 $ 268 Finished pulp, paper and packaging 993 1,091 Operating supplies 571 627 Other 50 64 Total $ 1,828 $ 2,050
Interest Income and Interest Expense Disclosure [Table Text Block]	Amounts related to interest were as follows: Three Months Ended In millions 2021 2020 Interest expense $ 124 $ 163 Interest income 32 46 Capitalized interest costs 2 9

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases [Table Text Block]	Supplemental Balance Sheet Information Related to Leases In millions Classification March 31, 2021 December 31, 2020 Assets Operating lease assets Right-of-use assets $ 415 $ 459 Finance lease assets Plants, properties and equipment, net (a) 93 95 Total leased assets $ 508 $ 554 Liabilities Current Operating Other current liabilities $ 143 $ 148 Finance Notes payable and current maturities of long-term debt 12 13 Noncurrent Operating Long-term lease obligations 276 315 Finance Long-term debt 80 82 Total lease liabilities $ 511 $ 558 (a) Finance leases are recorded net of accumulated amortization of $55 million and $53 million as of March 31, 2021 and December 31, 2020, respectively.

EQUITY METHOD INVESTMENTS (Tabl

EQUITY METHOD INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Graphic Packaging LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments [Table Text Block]	Summarized financial information for GPIP is presented in the following tables: Balance Sheet In millions March 31, 2021 December 31, 2020 Current assets $ 1,904 $ 2,011 Noncurrent assets 5,835 5,784 Current liabilities 1,241 1,827 Noncurrent liabilities 4,224 3,594 Income Statement Three Months Ended In millions 2021 2020 Net sales $ 1,649 $ 1,599 Gross profit 249 321 Income (loss) from continuing operations 77 (24) Net income (loss) 77 (24)
Ilim Holding
Schedule of Equity Method Investments [Line Items]
Equity Method Investments [Table Text Block]	Summarized financial information for Ilim is presented in the following tables: Balance Sheet In millions March 31, 2021 December 31, 2020 Current assets $ 925 $ 739 Noncurrent assets 2,737 2,733 Current liabilities 856 674 Noncurrent liabilities 2,456 2,249 Noncontrolling interests 19 17 Income Statement Three Months Ended In millions 2021 2020 Net sales $ 531 $ 482 Gross profit 248 195 Income (loss) from continuing operations 103 (61) Net income (loss) 100 (58)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill Balances [Table Text Block]	The following table presents changes in goodwill balances as allocated to each business segment for the three-months ended March 31, 2021: In millions Industrial Global Cellulose Fibers Printing Total Balance as of January 1, 2021 Goodwill $ 3,410 $ 52 $ 1,966 $ 5,428 Accumulated impairment losses (296) (52) (1,765) (2,113) 3,114 — 201 3,315 Currency translation and other (a) (3) — (14) (17) Goodwill additions/reductions — — (56) (b) (56) Accumulated impairment loss additions / reductions — — — — Balance as of March 31, 2021 Goodwill 3,407 52 1,896 5,355 Accumulated impairment losses (296) (52) (1,765) (2,113) Total $ 3,111 $ — $ 131 $ 3,242 (a) Represents the effects of foreign currency translations. (b) Represents Kwidzyn held for sale in EMEA.
Finite and Indefinite-Lived Intangible Assets [Table Text Block]	Identifiable intangible assets comprised the following: March 31, 2021 December 31, 2020 In millions Gross Accumulated Net Intangible Assets Gross Accumulated Net Intangible Assets Customer relationships and lists $ 535 $ 296 $ 239 $ 542 $ 294 $ 248 Tradenames, patents and trademarks, and developed technology 170 120 50 170 117 53 Land and water rights 8 2 6 8 2 6 Software 17 17 — 25 24 1 Other 15 11 4 19 10 9 Total $ 745 $ 446 $ 299 $ 764 $ 447 $ 317
Amortization Expense of Intangible Assets [Table Text Block]	The Company recognized the following amounts as amortization expense related to intangible assets: Three Months Ended In millions 2021 2020 Amortization expense related to intangible assets $ 12 $ 10

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
	Mar. 31, 2021
Variable Interest Entities [Abstract]
Activity Between Company And Entities [Table Text Block]	Activity between the Company and the 2015 Financing Entities was as follows: Three Months Ended In millions 2021 2020 Revenue (a) $ 24 $ 24 Expense (a) 13 32 Cash receipts (b) 47 47 Cash payments (c) 14 64 (a) The revenue and expense are included in Interest expense, net in the accompanying statement of operations. (b) The cash receipts are interest received on the Financial assets of special purpose entities. (c) The cash payments represent interest paid on Nonrecourse financial liabilities of special purpose entities. Activity between the Company and the 2007 Financing Entities was as follows: Three Months Ended In millions 2021 2020 Revenue (a) $ 7 $ 16 Expense (b) 6 16 Cash receipts (c) 2 12 Cash payments (d) 4 15 (a) The revenue is included in Interest expense, net in the accompanying statement of operations and includes approximately $5 million for both of the three months ended March 31, 2021 and 2020 of accretion income for the amortization of the basis difference adjustment on the Financial assets of special purpose entities. (b) The expense is included in Interest expense, net in the accompanying statement of operations and includes approximately $2 million for both the three months ended March 31, 2021 and 2020, of accretion expense for the amortization of the basis difference 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.

DERIVATIVES AND HEDGING ACTIV_2

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2021
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 financial instruments used in hedging transactions were as follows: In millions March 31, 2021 December 31, 2020 Derivatives in Cash Flow Hedging Relationships: Foreign exchange contracts (USD) $ 112 $ 85 Foreign exchange contracts (EUR) 192 187 Derivatives in Net Investment Hedging Relationships: Foreign exchange contracts (EUR) 670 — Derivatives Not Designated as Hedging Instruments: Electricity contract (MWh) 0.2 0.2
Gains Or 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) Three Months Ended In millions 2021 2020 Derivatives in Cash Flow Hedging Relationships: Foreign exchange contracts $ (6) $ (30) Total $ (6) $ (30) Derivatives in Net Investment Hedging Relationships: Foreign exchange contracts $ 17 $ — Interest rate contracts — 20 Total $ 17 $ 20
Gains And Losses Recognized In Consolidated Statement Of Operations On Qualifying And Non-Qualifying Financial Instruments [Table Text Block]	The amounts of gains and losses recognized in the statement of operations on qualifying and non-qualifying financial instruments used in hedging transactions were as follows: Gain (Loss) Reclassified from AOCI Into Income (Effective Portion) Location of Gain (Loss) Three Months Ended In millions 2021 2020 Derivatives in Cash Flow Hedging Relationships: Foreign exchange contracts $ (3) $ (11) Cost of products sold Total $ (3) $ (11) Gain (Loss) Recognized in Income Location of Gain (Loss) Three Months Ended In millions 2021 2020 Derivatives in Fair Value Hedging Relationships: Interest rate contracts $ — $ 38 Interest expense, net Debt — (38) Interest expense, net Total $ — $ — Derivatives Not Designated as Hedging Instruments: Electricity contract $ 2 $ (3) Cost of products sold Total $ 2 $ (3)
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 balance sheet: Fair Value Measurements Level 2 – Significant Other Observable Inputs Assets Liabilities In millions March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Derivatives designated as hedging instruments Foreign exchange contracts – cash flow $ 3 $ 5 $ 13 $ 8 Foreign exchange contracts - net investment 28 — — — Total derivatives designated as hedging instruments 31 5 13 8 Derivatives not designated as hedging instruments Electricity contract 1 — — 1 Total derivatives not designated as hedging instruments 1 — — 1 Total derivatives $ 32 (a) $ 5 (a) $ 13 (b) $ 9 (c) (a) Included in Other current assets in the accompanying consolidated balance sheet. (b) Includes $11 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet. (c) Includes $7 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet.

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Net Periodic Pension Expense for Qualified and Nonqualified U.S. Defined Benefit Plans [Table Text Block]	Net periodic pension (income) expense for our qualified and nonqualified U.S. defined benefit plans comprised the following: Three Months Ended In millions 2021 2020 Service cost $ 27 $ 20 Interest cost 83 98 Expected return on plan assets (183) (167) Actuarial loss 39 55 Amortization of prior service cost 6 5 Net periodic pension (income) expense $ (28) $ 11

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense Related to Income Tax Benefits [Table Text Block]	Stock-based compensation expense and related income tax benefits were as follows: Three Months Ended In millions 2021 2020 Total stock-based compensation expense (selling and administrative) $ 14 $ 26 Income tax benefits related to stock-based compensation 17 17

INDUSTRY SEGMENT INFORMATION (T

INDUSTRY SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment [Table Text Block]	Net sales by business segment for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended In millions 2021 2020 Industrial Packaging $ 3,953 $ 3,819 Global Cellulose Fibers 581 568 Printing Papers 781 908 Corporate and Intersegment Sales 48 57 Net Sales $ 5,363 $ 5,352
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Operating profit (loss) by business segment for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended In millions 2021 2020 Industrial Packaging $ 447 $ 470 Global Cellulose Fibers (82) (54) Printing Papers 80 96 Business Segment Operating Profits $ 445 $ 512 Earnings (loss) before income taxes and equity earnings $ 399 $ (16) Interest expense, net 92 117 Noncontrolling interests adjustment (1) — Corporate expenses, net 25 32 Corporate net special items (31) 33 Business net special items 14 352 Non-operating pension expense (income) (53) (6) Business Segment Operating Profits $ 445 $ 512

REVENUE RECOGNITION Disaggregat

REVENUE RECOGNITION Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 5,363	$ 5,352
North American Industrial Packaging
Disaggregation of Revenue [Line Items]
Net sales	3,485	3,355
EMEA Industrial Packaging
Disaggregation of Revenue [Line Items]
Net sales	396	350
European Coated Paperboard
Disaggregation of Revenue [Line Items]
Net sales	98	92
Global Cellulose Fibers
Disaggregation of Revenue [Line Items]
Net sales	581	568
North American Printing Papers
Disaggregation of Revenue [Line Items]
Net sales	366	446
Brazilian Papers
Disaggregation of Revenue [Line Items]
Net sales	168	176
European Papers
Disaggregation of Revenue [Line Items]
Net sales	250	287
Brazilian Industrial Packaging [Member]
Disaggregation of Revenue [Line Items]
Net sales		54
United States
Disaggregation of Revenue [Line Items]
Net sales	4,150	4,126
EMEA
Disaggregation of Revenue [Line Items]
Net sales	821	796
Pacific Rim and Asia
Disaggregation of Revenue [Line Items]
Net sales	59	41
Americas, other than U.S.
Disaggregation of Revenue [Line Items]
Net sales	333	389
Industrial Packaging
Disaggregation of Revenue [Line Items]
Net sales	3,953	3,819
Industrial Packaging | North American Industrial Packaging
Disaggregation of Revenue [Line Items]
Net sales	3,485	3,355
Industrial Packaging | EMEA Industrial Packaging
Disaggregation of Revenue [Line Items]
Net sales	396	350
Industrial Packaging | European Coated Paperboard
Disaggregation of Revenue [Line Items]
Net sales	98	92
Industrial Packaging | Brazilian Industrial Packaging [Member]
Disaggregation of Revenue [Line Items]
Net sales		54
Industrial Packaging | United States
Disaggregation of Revenue [Line Items]
Net sales	3,257	3,130
Industrial Packaging | EMEA
Disaggregation of Revenue [Line Items]
Net sales	491	440
Industrial Packaging | Pacific Rim and Asia
Disaggregation of Revenue [Line Items]
Net sales	18	12
Industrial Packaging | Americas, other than U.S.
Disaggregation of Revenue [Line Items]
Net sales	187	237
Global Cellulose Fibers
Disaggregation of Revenue [Line Items]
Net sales	581	568
Global Cellulose Fibers | Global Cellulose Fibers
Disaggregation of Revenue [Line Items]
Net sales	581	568
Global Cellulose Fibers | United States
Disaggregation of Revenue [Line Items]
Net sales	483	494
Global Cellulose Fibers | EMEA
Disaggregation of Revenue [Line Items]
Net sales	70	56
Global Cellulose Fibers | Pacific Rim and Asia
Disaggregation of Revenue [Line Items]
Net sales	28	18
Global Cellulose Fibers | Americas, other than U.S.
Disaggregation of Revenue [Line Items]
Net sales	0	0
Printing Papers [Member]
Disaggregation of Revenue [Line Items]
Net sales	781	908
Printing Papers [Member] | North American Printing Papers
Disaggregation of Revenue [Line Items]
Net sales	366	446
Printing Papers [Member] | Brazilian Papers
Disaggregation of Revenue [Line Items]
Net sales	168	176
Printing Papers [Member] | European Papers
Disaggregation of Revenue [Line Items]
Net sales	250	287
Printing Papers [Member] | United States
Disaggregation of Revenue [Line Items]
Net sales	363	444
Printing Papers [Member] | EMEA
Disaggregation of Revenue [Line Items]
Net sales	263	302
Printing Papers [Member] | Pacific Rim and Asia
Disaggregation of Revenue [Line Items]
Net sales	9	8
Printing Papers [Member] | Americas, other than U.S.
Disaggregation of Revenue [Line Items]
Net sales	146	154
Operating Segments [Member] | Industrial Packaging
Disaggregation of Revenue [Line Items]
Net sales	3,953	3,819
Operating Segments [Member] | Global Cellulose Fibers
Disaggregation of Revenue [Line Items]
Net sales	581	568
Operating Segments [Member] | Printing Papers [Member]
Disaggregation of Revenue [Line Items]
Net sales	781	908
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Net sales	(29)	(33)
Intersegment Eliminations [Member] | Industrial Packaging
Disaggregation of Revenue [Line Items]
Net sales	(26)	(32)
Intersegment Eliminations [Member] | Printing Papers [Member]
Disaggregation of Revenue [Line Items]
Net sales	(3)	(1)
Geography Eliminations [Member] | Industrial Packaging
Disaggregation of Revenue [Line Items]
Net sales	3,953	3,819
Geography Eliminations [Member] | Global Cellulose Fibers
Disaggregation of Revenue [Line Items]
Net sales	581	568
Geography Eliminations [Member] | Printing Papers [Member]
Disaggregation of Revenue [Line Items]
Net sales	781	908
Consolidation, Eliminations
Disaggregation of Revenue [Line Items]
Net sales	48	57
Consolidation, Eliminations | United States
Disaggregation of Revenue [Line Items]
Net sales	47	58
Consolidation, Eliminations | EMEA
Disaggregation of Revenue [Line Items]
Net sales	(3)	(2)
Consolidation, Eliminations | Pacific Rim and Asia
Disaggregation of Revenue [Line Items]
Net sales	4	3
Consolidation, Eliminations | Americas, other than U.S.
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ (2)

REVENUE RECOGNITION Contract As

REVENUE RECOGNITION Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Current	$ 41	$ 31

EQUITY (Details)

EQUITY (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Beginning Balance	$ 7,868,000,000	$ 7,718,000,000
Stockholders' Equity Attributable to Parent	7,758,000,000		$ 7,854,000,000
Issuance of stock for various plans, net	26,000,000	41,000,000
Repurchase of stock	(155,000,000)	(41,000,000)
Common stock dividends	(205,000,000)	(203,000,000)
Transactions of equity method investees	0	6,000,000
Comprehensive income (loss), portion attributable to noncontrolling interest	(1,000,000)	(1,000,000)
Comprehensive Income (Loss)	237,000,000	(658,000,000)
Stockholders' equity attributable to noncontrolling interest	13,000,000		14,000,000
Ending Balance	$ 7,771,000,000	$ 6,861,000,000
Common Stock, Dividends, Per Share, Declared	$ 0.5125	$ 0.5125
Cumulative Effect, Period of Adoption, Adjustment
Ending Balance		$ (2,000,000)
Common Stock Issued
Stockholders' Equity Attributable to Parent	$ 449,000,000	449,000,000	449,000,000	$ 449,000,000
Paid-in Capital
Stockholders' Equity Attributable to Parent	6,267,000,000	6,252,000,000	6,325,000,000	6,297,000,000
Issuance of stock for various plans, net	(58,000,000)	(51,000,000)
Transactions of equity method investees	0	6,000,000
Retained Earnings
Stockholders' Equity Attributable to Parent	8,214,000,000	8,062,000,000	8,070,000,000	8,408,000,000
Common stock dividends	(205,000,000)	(203,000,000)
Comprehensive income (loss)	349,000,000	(141,000,000)
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment
Ending Balance		(2,000,000)
Accumulated Other Comprehensive Income (Loss)
Stockholders' Equity Attributable to Parent	(4,453,000,000)	(5,255,000,000)	(4,342,000,000)	(4,739,000,000)
Comprehensive income (loss)	(111,000,000)	(516,000,000)
Common Stock Held In Treasury, At Cost
Stockholders' Equity Attributable to Parent	2,719,000,000	2,651,000,000	2,648,000,000	2,702,000,000
Issuance of stock for various plans, net	(84,000,000)	(92,000,000)
Repurchase of stock	155,000,000	41,000,000
Total International Paper Shareholders’ Equity
Stockholders' Equity Attributable to Parent	7,758,000,000	6,857,000,000	7,854,000,000	7,713,000,000
Issuance of stock for various plans, net	26,000,000	41,000,000
Repurchase of stock	(155,000,000)	(41,000,000)
Common stock dividends	(205,000,000)	(203,000,000)
Transactions of equity method investees	0	6,000,000
Comprehensive income (loss)	238,000,000	(657,000,000)
Total International Paper Shareholders’ Equity | Cumulative Effect, Period of Adoption, Adjustment
Ending Balance		(2,000,000)
Noncontrolling Interests
Comprehensive income (loss), portion attributable to noncontrolling interest	(1,000,000)	(1,000,000)
Stockholders' equity attributable to noncontrolling interest	$ 13,000,000	$ 4,000,000	$ 14,000,000	$ 5,000,000

EQUITY Phantom (Details)

EQUITY Phantom (Details) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Common Stock, Dividends, Per Share, Declared	$ 0.5125	$ 0.5125

OTHER COMPREHENSIVE INCOME Sche

OTHER COMPREHENSIVE INCOME Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (4,342)
Amounts reclassified from accumulated other comprehensive income	37	$ 57
Ending Balance	(4,453)	(5,255)
Defined Benefit Pension and Postretirement Items (a)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,880)	(2,277)
Amounts reclassified from accumulated other comprehensive income	34	46
Ending Balance	(1,846)	(2,231)
Change in Cumulative Foreign Currency Translation Adjustments (a)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(2,457)	(2,465)
Other comprehensive income (loss) before reclassifications	(143)	(544)
Other comprehensive income (loss) attributable to noncontrolling interest	1	1
Ending Balance	(2,599)	(3,008)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(5)	3
Other comprehensive income (loss) before reclassifications	(6)	(30)
Amounts reclassified from accumulated other comprehensive income	3	11
Ending Balance	$ (8)	$ (16)

OTHER COMPREHENSIVE INCOME Sc_2

OTHER COMPREHENSIVE INCOME Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax (expense)/benefit		$ (99)	$ (94)
Total reclassifications for the period		(37)	(57)
Prior-service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from accumulated other comprehensive income, current period, before tax	[1]	(6)	(5)
Actuarial gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from accumulated other comprehensive income, current period, before tax	[1]	(40)	(56)
Accumulated defined benefit plans adjustment including portion attributable to noncontrolling interest
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from accumulated other comprehensive income, current period, before tax		(46)	(61)
Tax (expense)/benefit		12	15
Income (Loss) from Continuing Operations, Total, Net of Tax		(34)	(46)
Accumulated net gain (loss) from cash flow hedges including portion attributable to noncontrolling interest
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from accumulated other comprehensive income, current period, before tax		(4)	(17)
Tax (expense)/benefit		1	6
Accumulated net gain (loss) from cash flow hedges including portion attributable to noncontrolling interest | Foreign Exchange Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification from accumulated other comprehensive income, current period, before tax	[2]	(4)	(17)
Net gains and loses on cash flow hedging derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest		(3)	(11)
Total reclassifications for the period		$ (3)	$ (11)
[1]	These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 19 for additional details).
[2]	This accumulated other comprehensive income component is included in our derivatives and hedging activities (see Note 18 for additional details).

EARNINGS PER SHARE ATTRIBUTAB_3

EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Earnings (loss) attributable to International Paper Company common shareholders		$ 349	$ (141)
Weighted average common shares outstanding		392.8	392.6
Restricted performance share plan	[1]	2	0
Weighted average common shares outstanding – assuming dilution		394.8	392.6
Net earnings (loss)		$ 0.89	$ (0.36)
Net earnings (loss)		$ 0.88	$ (0.36)
[1]	Securities are not included in the table in periods when antidilutive

RESTRUCTURING AND OTHER CHARG_2

RESTRUCTURING AND OTHER CHARGES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges, net	$ 30		$ 8
Corporate and Other [Member] | Early Debt Extinguishment Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges, net	18	$ 8
EMEA Packaging | EMEA Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges, net	$ 12

ACQUISITIONS Narrative (Details

ACQUISITIONS Narrative (Details) € in Millions, $ in Millions	3 Months Ended
	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2021EUR (€)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Apr. 01, 2021USD ($)
Business Acquisition [Line Items]
Acquisitions, net of cash acquired		$ 61			$ 0
Freedom [Member]
Business Acquisition [Line Items]
Acquisitions, net of cash acquired				$ 56
Spain Box Plants
Business Acquisition [Line Items]
Acquisitions, net of cash acquired		56
Business combination, aggregate purchase price		$ 85	€ 72
Corrugated Packaging Business | Subsequent Event [Member]
Business Acquisition [Line Items]
Acquisition costs, amortization period	15 years
Contract with Customer, Liability						$ 115
Noncontrolling Interest, Increase from Business Combination	$ 115

DIVESTITURES Disposal Group Inc

DIVESTITURES Disposal Group Including Discontinued Operations Table (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	$ 3,242	$ 3,315
Assets held for sale	695	138
Liabilities held for sale	334	$ 181
Olmuksan | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and temporary investments	2
Accounts and notes receivable	71
Inventories	13
Other current assets	5
Plants, properties and equipment	34
Goodwill	6
Deferred charges and other assets	6
Assets held for sale	137
Accounts payable and accrued liabilities	36
Other current liabilities	24
Deferred income taxes	1
Other liabilities	4
Other liabilities	125
Liabilities held for sale	190
Kwidzyn Mill | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and temporary investments	54
Accounts and notes receivable	41
Inventories	75
Other current assets	9
Plants, properties and equipment	271
Goodwill	56
Right of use assets	38
Deferred charges and other assets	14
Assets held for sale	558
Accounts payable and accrued liabilities	57
Other current liabilities	14
Deferred income taxes	22
Long-term lease obligations	35
Other liabilities	16
Liabilities held for sale	$ 144

DIVESTITURES Narrative (Details

DIVESTITURES Narrative (Details) € in Millions, R$ in Millions, $ in Millions	3 Months Ended				12 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020BRL (R$)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net (gains) losses on sales and impairments of businesses	$ 2			$ 344
Change in cumulative foreign currency translation adjustment	143			544
Kwidzyn Mill
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses	$ 786	€ 670
Printing Papers [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of Stock, Percentage of Ownership after Transaction	19.90%	19.90%
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Olmuksan
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses	$ 78	€ 66
Sale of stock, percentage of ownership before transaction	90.38%	90.38%
Assets, Fair Value Disclosure			$ 79		$ 79
Net (gains) losses on sales and impairments of businesses			123
Net (gains) losses on sales and impairments of businesses, net of tax			$ 123
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	$ 2
Change in cumulative foreign currency translation adjustment	$ 2
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Brazilian Industrial Packaging [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses					58.5	R$ 330
Deferred proceeds on disposal of business					8.9	50
Net (gains) losses on sales and impairments of businesses				347
Net (gains) losses on sales and impairments of businesses, net of tax				340
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax				(327)
Proceeds to be received at closing					$ 49.6	R$ 280
Number of containerboard mill to be sold					3	3
Number of box plants to be sold					4	4
Impairment of Long-Lived Assets to be Disposed of				$ 20

SUPPLEMENTAL FINANCIAL STATEM_3

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION Accounts and Notes Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Financing Receivable, after Allowance for Credit Loss, Current	$ 3,342	$ 3,064
Trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Financing Receivable, after Allowance for Credit Loss, Current	2,873	2,776
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Financing Receivable, after Allowance for Credit Loss, Current	$ 469	$ 288

SUPPLEMENTAL FINANCIAL STATEM_4

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION Inventories by Major Category (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Inventory [Line Items]
Raw materials	$ 214	$ 268
Finished pulp, paper and packaging	993	1,091
Operating supplies	571	627
Other	50	64
Total	$ 1,828	$ 2,050

SUPPLEMENTAL FINANCIAL STATEM_5

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION Interest Income and Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Supplemental Income Statement Elements [Abstract]
Interest expense	$ 124	$ 163
Interest income	32	46
Capitalized interest costs	$ 2	$ 9

SUPPLEMENTAL FINANCIAL STATEM_6

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Disclosure Text Block Supplement [Abstract]
Temporary investments	$ 491		$ 358
Allowance for doubtful accounts	70		76
Accumulated depreciation	20,700		21,400
Depreciation expense	294	$ 309
Interest payments	112	184
Asset retirement obligation	113		116
Accounts Payable, Other	40		$ 41
Insurance Recoveries	$ 2	$ 30

LEASES Schedule of Supplemental

LEASES Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions		Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease, right-of-use asset		$ 415	$ 459
Finance lease, right-of-use asset	[1]	93	95
Lease asset, total		508	554
Operating lease, liability, current		143	148
Finance lease, liability, current		12	13
Operating lease, liability, noncurrent		276	315
Finance lease, liability, noncurrent		80	82
Lease liability, total		$ 511	$ 558
[1]	Finance leases are recorded net of accumulated amortization of $55 million and $53 million as of March 31, 2021 and December 31, 2020, respectively.

LEASES Schedule of Supplement_2

LEASES Schedule of Supplemental Balance Sheet Information Footnotes (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Finance Lease, Right-of-Use Asset, Accumulated Amortization	$ 55	$ 53

LEASES Narrative (Details)

LEASES Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Lease, Cost	$ 72	$ 67
Minimum [Member]
Lessee, operating and financing leases, remaining lease term	1 year
Maximum [Member]
Lessee, operating and financing leases, remaining lease term	33 years

EQUITY METHOD INVESTMENTS Summa

EQUITY METHOD INVESTMENTS Summarized Financial Information of Equity Method Investees (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Assets, Current	$ 12,167		$ 11,236
Current liabilities	8,390		8,284
Net earnings (loss)	349	$ (141)
Reportable Subsegments | Graphic Packaging LLC [Member]
Schedule of Equity Method Investments [Line Items]
Assets, Current	1,904		2,011
Noncurrent assets	5,835		5,784
Current liabilities	1,241		1,827
Noncurrent liabilities	4,224		3,594
Net sales	1,649	1,599
Gross profit	249	321
Income (loss) from continuing operations	77	(24)
Net earnings (loss)	77	(24)
Reportable Subsegments | Ilim Holding
Schedule of Equity Method Investments [Line Items]
Assets, Current	925		739
Noncurrent assets	2,737		2,733
Current liabilities	856		674
Noncurrent liabilities	2,456		2,249
Net sales	531	482
Gross profit	248	195
Income (loss) from continuing operations	103	(61)
Net earnings (loss)	100	$ (58)
Noncontrolling interests	$ 19		$ 17

EQUITY METHOD INVESTMENTS Narra

EQUITY METHOD INVESTMENTS Narrative (Details) $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2021USD ($)shares	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2018	Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Proceeds from sales of equity method investments	$ 397		$ 250
Equity earnings (loss), net of taxes	49		(31)
Equity method dividends received	4		5
Net (gains) losses on sales of equity method investments	$ 74		33
Period over which tax benefits will be recognized	12 months
Graphic Packaging LLC [Member] | Reportable Subsegments
Schedule of Equity Method Investments [Line Items]
Equity method investment, aggregate units exchanged	15,307,000
Shares received from exchange of units owned in equity method investee | shares	15,307,000
Equity method investment, shares repurchased by parent	9,281,316
Proceeds from exchange of aggregate units owned in an equity method investment	$ 150
Proceeds from Sale of Other Assets	247
Ilim Holding | Reportable Subsegments
Schedule of Equity Method Investments [Line Items]
Foreign currency transaction gain (loss), net of tax	$ (2)		(51)
Reportable Subsegments | Graphic Packaging LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest	7.40%			20.50%
Proceeds from sales of equity method investments		$ 250	250
Gain (Loss) on Sale of Equity Investments	$ 74		33
Gain (loss) on sale of equity method investment, net of tax	56		25
Equity earnings (loss), net of taxes	1		7
Equity method investments	336				$ 702
Equity method investment, difference between carrying amount and underlying equity	167				345
Revenue from related parties	56		70
Equity method dividends received	4		$ 5
Equity method investments, aggregate units exchanged		17,399,414	15,150,784	79,911,511
Net (gains) losses on sales of equity method investments	33
Gain related to tax receivable agreement	$ 41
Percentage share of expected tax benefits to be realized	0.50
Reportable Subsegments | Ilim Holding
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest	50.00%
Equity earnings (loss), net of taxes	$ 49		$ (35)
Equity method investments	291				393
Equity method investment, difference between carrying amount and underlying equity	125				$ 127
Related party transaction, purchases from related party	$ 41		$ 51

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES Changes in Goodwill Balances (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Beginning balance		$ 5,428
Accumulated impairment losses		(2,113)
Goodwill		3,242	$ 3,315
Currency translation and other (a)	[1]	(17)
Goodwill additions/reductions		(56)
Accumulated impairment loss additions / reductions		0
Accumulated impairment losses		(2,113)
Ending balance		5,355
Industrial Packaging
Goodwill [Line Items]
Beginning balance		3,410
Accumulated impairment losses		(296)
Goodwill		3,111	3,114
Currency translation and other (a)	[1]	(3)
Goodwill additions/reductions		0
Accumulated impairment loss additions / reductions		0
Accumulated impairment losses		(296)
Ending balance		3,407
Global Cellulose Fibers
Goodwill [Line Items]
Beginning balance		52
Accumulated impairment losses		(52)
Goodwill		0	0
Currency translation and other (a)	[1]	0
Goodwill additions/reductions		0
Accumulated impairment loss additions / reductions		0
Accumulated impairment losses		(52)
Ending balance		52
Printing Papers [Member]
Goodwill [Line Items]
Beginning balance		1,966
Accumulated impairment losses		(1,765)
Goodwill		131	$ 201
Currency translation and other (a)	[1]	(14)
Goodwill additions/reductions	[2]	(56)
Accumulated impairment loss additions / reductions		0
Accumulated impairment losses		(1,765)
Ending balance		$ 1,896
[1]	Represents the effects of foreign currency translations
[2]	Represents Kwidzyn held for sale in EMEA.

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 745	$ 764
Accumulated Amortization	446	447
Net Intangible Assets	299	317
Customer relationships and lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	535	542
Accumulated Amortization	296	294
Net Intangible Assets	239	248
Tradenames, patents and trademarks, and developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	170	170
Accumulated Amortization	120	117
Net Intangible Assets	50	53
Land and water rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8	8
Accumulated Amortization	2	2
Net Intangible Assets	6	6
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	17	25
Accumulated Amortization	17	24
Net Intangible Assets	0	1
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	15	19
Accumulated Amortization	11	10
Net Intangible Assets	$ 4	$ 9

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLES Amortization Expense of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 12	$ 10

INCOME TAXES Narrative (Details

INCOME TAXES Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income tax payments, net of refunds	$ 17	$ 16
Decrease in Unrecognized Tax Benefits is Reasonably Possible	5
Secretariat of the Federal Revenue Bureau of Brazil [Member]
Income tax examination, estimate of possible loss	105
Income tax examination, penalties and interest expense	$ 338

COMMITMENTS AND CONTINGENCIES E

COMMITMENTS AND CONTINGENCIES Environmental Remediation Obligations (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
	Mar. 31, 2021	Jun. 30, 2017	Sep. 30, 2017	Dec. 31, 2020
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 189
Accrual for environmental loss contingencies, gross	198
Liability for Asbestos and Environmental Claims, Net	114
Cass Lake, Minnesota
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 46
Kalamazoo River Superfund Site
Loss Contingencies [Line Items]
Proposed consent decree, value of remediation payments				$ 100
Proposed consent decree, value of labor performed				$ 135.7
Kalamazoo River Superfund Site | Time Critical Removal Action
Loss Contingencies [Line Items]
Loss contingency, damages sought, value		$ 19	$ 37
Kalamazoo River Superfund Site | Georgia-Pacific Consumer Products LP, Fort James Corporation and Georgia Pacific LLC Cost Recovery Action
Loss Contingencies [Line Items]
Responsible party percentage	15.00%
Loss contingency, damages sought, value	$ 79
Loss Contingency, damages awarded, value	$ 50
San Jacinto River Superfund Site
Loss Contingencies [Line Items]
Responsible party percentage	50.00%
Loss contingency, damages sought, value	$ 115
San Jacinto River Superfund Site | Northern impoundment [Member]
Loss Contingencies [Line Items]
Loss contingency, damages sought, value	105
Liability for Asbestos and Environmental Claims, Net	55
San Jacinto River Superfund Site | Southern Impoundment [Member]
Loss Contingencies [Line Items]
Loss contingency, damages sought, value	10
Liability for Asbestos and Environmental Claims, Net	$ 10

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - 3 months ended Mar. 31, 2021 € in Millions, $ in Millions	USD ($)	EUR (€)
Loss Contingencies [Line Items]
Value Added Tax Receivable	$ 11
Liability for Asbestos and Environmental Claims, Net	$ 114
Italian Competition Authority [Member]
Loss Contingencies [Line Items]
Potentially Responsible Parties	30
Loss Contingency Accrual	$ 32	€ 29

VARIABLE INTEREST ENTITIES Acti

VARIABLE INTEREST ENTITIES Activity Between Company and Entities (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
2015 Financing Entities
Variable Interest Entity [Line Items]
Revenue	[1]	$ 24	$ 24
Expense	[1]	13	32
Cash receipts	[2]	47	47
Cash payments	[3]	14	64
2007 Financing Entities
Variable Interest Entity [Line Items]
Revenue	[4]	7	16
Expense	[5]	6	16
Cash receipts	[6]	2	12
Cash payments	[7]	$ 4	$ 15
[1]	The revenue and expense are included in Interest expense, net in the accompanying statement of operations.
[2]	The cash receipts are interest received on the Financial assets of special purpose entities.
[3]	The cash payments represent interest paid on Nonrecourse financial liabilities of special purpose entities.
[4]	The revenue is included in Interest expense, net in the accompanying statement of operations and includes approximately $5 million for both of the three months ended March 31, 2021 and 2020 of accretion income for the amortization of the basis difference adjustment on the Financial assets of special purpose entities.
[5]	The expense is included in Interest expense, net in the accompanying statement of operations and includes approximately $2 million for both the three months ended March 31, 2021 and 2020, of accretion expense for the amortization of the basis difference adjustment on the Nonrecourse financial liabilities of special purpose entities.
[6]	The cash receipts are interest received on the Financial assets of special purpose entities.
[7]	The cash payments are interest paid on Nonrecourse financial liabilities of special purpose entities.

VARIABLE INTEREST ENTITIES Ac_2

VARIABLE INTEREST ENTITIES Activity Between Company and Entities Footnotes (Details) - 2007 Financing Entities - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Variable Interest Entity [Line Items]
Accretion income for amortization of purchase accounting adjustment, financial assets	$ 5	$ 5
Accretion expense for amortization of purchase accounting adjustment, financial liabiities	$ 2	$ 2

VARIABLE INTEREST ENTITIES Narr

VARIABLE INTEREST ENTITIES Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Assets, Current	$ 12,167	$ 11,236
Expected cash tax payment	75
equity in variable interest entities attributable to parent	600
2015 Financing Entities
Variable Interest Entity [Line Items]
Notes receivable, fair value disclosure	4,900
Long-term debt, fair value	4,200
Assets, Current	4,800
Other Liabilities, Current	4,200
2007 Financing Entities
Variable Interest Entity [Line Items]
Notes receivable, fair value disclosure	2,300
Long-term debt, fair value	$ 2,100

DEBT Narrative (Details)

DEBT Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt and capital lease obligations	$ 8,000
Debt fair value	9,600
Accounts and Financing Receivable, after Allowance for Credit Loss, Current	3,342	$ 3,064
Debt covenant compliance, minimum net worth	$ 9,000
Debt covenant compliance, minimum debt to capital ratio	60.00%
Line of Credit Facility, Current Borrowing Capacity	$ 2,100
Notes Reduction	107
364-Day Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	750
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	1,500
Commercial Paper
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	1,000
Receivables Securitization Program [Member]
Debt Instrument [Line Items]
Collateralized Agreements	$ 550
Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.80%

DERIVATIVES AND HEDGING ACTIV_3

DERIVATIVES AND HEDGING ACTIVITIES Schedule of Notional Amounts of Financial Instruments (Details) € in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)MWh	Dec. 31, 2020USD ($)MWh	Mar. 31, 2021EUR (€)	Dec. 31, 2020EUR (€)
Energy Related Derivative | Not Designated as Hedging Instrument
Derivative [Line Items]
Underlying, Derivative Energy Measure | MWh	200,000	200,000
Cash Flow Hedging | Foreign Exchange Contract | Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount	$ 112	$ 85	€ 192	€ 187
Net Investment Hedging [Member] | Foreign Exchange Contract | Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount | €			€ 670	€ 0

DERIVATIVES AND HEDGING ACTIV_4

DERIVATIVES AND HEDGING ACTIVITIES Gains Losses Recognized in Accumulated Other Comprehensive Income AOCI Net of Tax Related to Derivative Instruments (Details) - Other Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ (6)	$ (30)
Cash Flow Hedging | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(6)	(30)
Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	17	20
Net Investment Hedging [Member] | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	17	0
Net Investment Hedging [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 0	$ 20

DERIVATIVES AND HEDGING ACTIV_5

DERIVATIVES AND HEDGING ACTIVITIES Gains and Losses Recognized in Consolidated Statement of Operations on Qualifying and Non-Qualifying Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Designated as Hedging Instrument | Interest Expense [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 0	$ 0
Designated as Hedging Instrument | Interest Expense [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	38
Designated as Hedging Instrument | Interest Expense [Member] | Fair Value Hedging [Member] | Debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	(38)
Designated as Hedging Instrument | Cost of Products Sold | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(3)	(11)
Designated as Hedging Instrument | Cost of Products Sold | Cash Flow Hedging | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(3)	(11)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	2	(3)
Not Designated as Hedging Instrument | Cost of Products Sold | Energy Related Derivative
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 2	$ (3)

DERIVATIVES AND HEDGING ACTIV_6

DERIVATIVES AND HEDGING ACTIVITIES Impact of Derivative Instruments in Consolidated Balance Sheet (Details) - USD ($) $ in Millions		Mar. 31, 2021		Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative Assets	[1]	$ 32		$ 5
Derivative Liabilities		13	[2]	9	[3]
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets		31		5
Derivative Liabilities		13		8
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets		1		0
Derivative Liabilities		0		1
Energy Related Derivative | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets		1		0
Derivative Liabilities		0		1
Cash Flow Hedging | Foreign Exchange Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets		3		5
Derivative Liabilities		13		8
Net Investment Hedging [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets		28		0
Derivative Liabilities		$ 0		$ 0
[1]	Included in Other current assets in the accompanying consolidated balance sheet.
[2]	Includes $11 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet.
[3]	Includes $7 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet.

DERIVATIVES AND HEDGING ACTIV_7

DERIVATIVES AND HEDGING ACTIVITIES Impact of Derivative Instruments in Consolidated Balance Sheet Other (Details) - USD ($) $ in Millions		Mar. 31, 2021		Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative Assets	[1]	$ 32		$ 5
Derivative Liabilities		13	[2]	9	[3]
Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities		11		7
Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities		2		2
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets		31		5
Derivative Liabilities		13		8
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets		1		0
Derivative Liabilities		$ 0		$ 1
[1]	Included in Other current assets in the accompanying consolidated balance sheet.
[2]	Includes $11 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet.
[3]	Includes $7 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet.

DERIVATIVES AND HEDGING ACTIV_8

DERIVATIVES AND HEDGING ACTIVITIES Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Gain / (Loss) Recorded to AOCI After Tax, That Is Expected to be Reclassified to Earnings	$ 5

RETIREMENT PLANS Net Periodic P

RETIREMENT PLANS Net Periodic Pension Expense for Qualified and Nonqualified U.S. Defined Benefit Plans (Details) - U.S. plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 27	$ 20
Interest cost	83	98
Expected return on plan assets	(183)	(167)
Actuarial loss	39	55
Amortization of prior service cost	6	5
Net periodic pension (income) expense	$ (28)	$ 11

RETIREMENT PLANS Narrative (Det

RETIREMENT PLANS Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Pension plan contributions	$ 0	$ 0
Non Qualified
Defined Benefit Plan Disclosure [Line Items]
Benefits paid	$ 5

STOCK-BASED COMPENSATION Schedu

STOCK-BASED COMPENSATION Schedule of Stock-Based Compensation Expense Related to Income Tax Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Income tax benefits related to stock-based compensation	$ 17	$ 17
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense (selling and administrative)	$ 14	$ 26

STOCK-BASED COMPENSATION Narrat

STOCK-BASED COMPENSATION Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to unvested restricted performance shares, executive continuity awards and restricted stock attributable to future performance, net of estimated forfeitures | $	$ 125
Compensation cost related to unvested restricted performance shares, executive continuity awards and restricted stock attributable to future performance, net of estimated forfeitures, weighted-average period (in years)	2 years 2 months 12 days
Granted, nonvested shares / units	2
Granted, nonvested, weighted average grant date fair value | $ / shares	$ 53.15
Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under ICP	7.2

INDUSTRY SEGMENT INFORMATION Sa

INDUSTRY SEGMENT INFORMATION Sales by Industry Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 5,363	$ 5,352
Consolidation, Eliminations
Segment Reporting Information [Line Items]
Net sales	48	57
Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	3,953	3,819
Global Cellulose Fibers
Segment Reporting Information [Line Items]
Net sales	581	568
Printing Papers [Member]
Segment Reporting Information [Line Items]
Net sales	$ 781	$ 908

INDUSTRY SEGMENT INFORMATION Op

INDUSTRY SEGMENT INFORMATION Operating Profit by Industry Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating profit	$ 445	$ 512
Earnings (loss) before income taxes and equity earnings	399	(16)
Interest expense, net	92	117
Noncontrolling interests adjustment	(1)	0
Corporate expenses, net	25	32
Corporate net special items	(31)	33
Business net special items	14	352
Non-operating pension expense (income)	(53)	(6)
Industrial Packaging
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating profit	447	470
Global Cellulose Fibers
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating profit	(82)	(54)
Printing Papers [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating profit	$ 80	$ 96