International Paper Co. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>International Paper Co. has filed its Q1 2024 10-Q report, detailing financial performance and operational segments.</b>

AI Summary

INTERNATIONAL PAPER CO /NEW/ (INPAP) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. International Paper Co. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31. The report includes data for various geographical segments and operating segments. The company was formerly known as International Paper & Power Corp.

Why It Matters

For investors and stakeholders tracking INTERNATIONAL PAPER CO /NEW/, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, crucial for assessing the company's performance and making informed investment decisions. Understanding the breakdown by geographical and operating segments allows for a deeper analysis of revenue drivers and regional performance trends within International Paper.

Risk Assessment

Risk Level: low — INTERNATIONAL PAPER CO /NEW/ shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with the paper and packaging industry.

Analyst Insight

Review the detailed segment performance within the 10-Q to identify any shifts in revenue or profitability across Industrial Packaging and Global Cellulose Fibers.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-01-01 — Period Start Date (Q1 2024)
• 2023-03-31 — Prior Year Period End Date (Q1 2023)
• 2023-01-01 — Prior Year Period Start Date (Q1 2023)

Key Players & Entities

• INTERNATIONAL PAPER CO /NEW/ (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-04-26 (date) — Filed as of date
• 0000051434 (company) — Central Index Key
• 2621 (industry) — Standard Industrial Classification
• NY (location) — State of incorporation
• 1231 (date) — Fiscal year end
• 19710527 (date) — Date of name change

FAQ

Industry Context

International Paper operates in the paper and packaging industry, which is subject to cyclical demand, raw material costs, and global economic conditions.

Regulatory Implications

The filing is a standard SEC Form 10-Q, which requires public companies to report their financial results on a quarterly basis.

What Investors Should Do

1. Analyze revenue and profitability trends for the Industrial Packaging and Global Cellulose Fibers segments.
2. Examine any disclosures related to changes in accounting policies or significant business developments.
3. Compare key financial metrics with the prior year's Q1 results if available in the full filing.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-26: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing the initial quarterly financial update.

Key Financial Figures

• $1.00 — he registrant's common stock, par value $1.00 per share, as of April 19, 2024 was 347

Filing Documents

• ip-20240331.htm (10-Q) — 1142KB
• ip-3312024xex311certificat.htm (EX-31.1) — 10KB
• ip-3312024xex312certificat.htm (EX-31.2) — 10KB
• ip-3312024xex32certificati.htm (EX-32) — 6KB
• ip-20240331_g1.jpg (GRAPHIC) — 155KB
• ip-20240331_g2.jpg (GRAPHIC) — 164KB
• ip-20240331_g3.jpg (GRAPHIC) — 109KB
• ip-20240331_g4.jpg (GRAPHIC) — 116KB
• 0000051434-24-000034.txt (&nbsp;) — 7992KB
• ip-20240331.xsd (EX-101.SCH) — 48KB
• ip-20240331_cal.xml (EX-101.CAL) — 70KB
• ip-20240331_def.xml (EX-101.DEF) — 324KB
• ip-20240331_lab.xml (EX-101.LAB) — 505KB
• ip-20240331_pre.xml (EX-101.PRE) — 401KB
• ip-20240331_htm.xml (XML) — 1019KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statement of Operations - Three Months Ended March 31, 2024 and 2023 1 Condensed Consolidated Statement of Comprehensive Income - Three Months Ended March 31, 2024 and 2023 2 Condensed Consolidated Balance Sheet - March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statement of Cash Flows - Three Months Ended March 31, 2024 and 2023 4 Condensed Notes to Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40

Signatures

Signatures 41 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS INTERNATIONAL PAPER COMPANY Condensed Consolidated Statement of Operations (Unaudited) (In millions, except per share amounts) Three Months Ended March 31, 2024 2023 Net Sales $ 4,619 $ 5,020 Costs and Expenses Cost of products sold 3,424 3,642 Selling and administrative expenses 358 381 Depreciation, amortization and cost of timber harvested 278 241 Distribution expenses 391 422 Taxes other than payroll and income taxes 41 36 Restructuring and other charges, net 3 — Net (gains) losses on sales of fixed assets 5 — Interest expense, net 46 62 Non-operating pension expense (income) ( 12 ) 15 Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings (Loss) 85 221 Income tax provision (benefit) 27 48 Equity earnings (loss), net of taxes ( 2 ) ( 1 ) Earnings (Loss) From Continuing Operations 56 172 Discontinued operations, net of taxes — — Net Earnings (Loss) $ 56 $ 172 Basic Earnings (Loss) Per Share Earnings (loss) from continuing operations $ 0.16 $ 0.49 Discontinued operations, net of taxes — — Net earnings (loss) $ 0.16 $ 0.49 Diluted Earnings (Loss) Per Share Earnings (loss) from continuing operations $ 0.16 $ 0.49 Discontinued operations, net of taxes — — Net earnings (loss) $ 0.16 $ 0.49 Average Shares of Common Stock Outstanding – assuming dilution 348.5 353.3 The accompanying notes are an integral part of these condensed financial statements. 1 Table of Contents INTERNATIONAL PAPER COMPANY Condensed Consolidated Statement of Comprehensive Income (Unaudited) (In millions) Three Months Ended March 31, 2024 2023 Net Earnings (Loss) $ 56 $ 172 Other Comprehensive Income (Loss), Net of Tax: Amortization of pension and post-retirement prior service costs and net loss: U.S. plans 17 23 Change in cumulative foreign currency translation adjustment ( 10 ) ( 9 ) Total Other Comprehensive Income (Loss), Net of Tax 7 14 Comprehensive Income (Loss) $ 63 $ 186 The ac

View Full Filing

View this 10-Q filing on SEC EDGAR