International Paper Co. Files Q2 2024 10-Q

TL;DR

IP filed its Q2 10-Q. Sales figures for the quarter and YTD are in.

AI Summary

International Paper Co. reported its Q2 2024 results, with net sales for the three months ended June 30, 2024, and the six months ended June 30, 2024, being reported. The company's fiscal year ends on December 31st. Specific financial figures for these periods are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance data for International Paper Co., crucial for understanding the company's current operational health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• 20240630 — Period End Date (Indicates the end of the reporting period for the 10-Q filing.)
• 20240726 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• INTERNATIONAL PAPER CO /NEW/ (company) — Filer
• 0000051434 (company) — Central Index Key
• 20240630 (date) — Period of Report
• 20240726 (date) — Filing Date
• 6400 POPLAR AVENUE (address) — Business Address
• MEMPHIS (location) — City
• TN (location) — State
• 38197 (postal_code) — ZIP Code
• 901-419-7000 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• ip-20240630.htm (10-Q) — 1502KB
• exhibit101inducementawardp.htm (EX-10.1) — 30KB
• exhibit102formofnoticeofaw.htm (EX-10.2) — 25KB
• exhibit103noticeofawardrec.htm (EX-10.3) — 24KB
• exhibit1042024long-terminc.htm (EX-10.4) — 69KB
• exhibit105timesharingagree.htm (EX-10.5) — 78KB
• exhibit106changeincontrola.htm (EX-10.6) — 96KB
• ip-6302024xex311certificat.htm (EX-31.1) — 10KB
• ip-6302024xex312certificat.htm (EX-31.2) — 10KB
• ip-6302024xex32certificati.htm (EX-32) — 6KB
• ip-20240630_g1.jpg (GRAPHIC) — 153KB
• ip-20240630_g2.jpg (GRAPHIC) — 158KB
• 0000051434-24-000053.txt ( ) — 9263KB
• ip-20240630.xsd (EX-101.SCH) — 48KB
• ip-20240630_cal.xml (EX-101.CAL) — 70KB
• ip-20240630_def.xml (EX-101.DEF) — 326KB
• ip-20240630_lab.xml (EX-101.LAB) — 509KB
• ip-20240630_pre.xml (EX-101.PRE) — 404KB
• ip-20240630_htm.xml (XML) — 1580KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statement of Operations - Six Months Ended June 30, 2024 and 2023 1 Condensed Consolidated Statement of Comprehensive Income - Six Months Ended June 30, 2024 and 2023 2 Condensed Consolidated Balance Sheet - June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statement of Cash Flows - Six Months Ended June 30, 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 3. Defaults Upon Senior Securities 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 41

Signatures

Signatures 42 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net Sales $ 4,734 $ 4,682 $ 9,353 $ 9,702 Costs and Expenses Cost of products sold 3,360 3,360 6,784 7,002 Selling and administrative expenses 453 336 811 717 Depreciation and amortization 261 244 539 485 Distribution expenses 379 376 770 798 Taxes other than payroll and income taxes 35 40 76 76 Restructuring and other charges, net — — 3 — Net (gains) losses on sales of fixed assets ( 5 ) — — — Interest expense, net 55 59 101 121 Non-operating pension expense (income) ( 10 ) 12 ( 22 ) 27 Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings (Loss) 206 255 291 476 Income tax provision (benefit) ( 293 ) 33 ( 266 ) 81 Equity earnings (loss), net of taxes ( 1 ) — ( 3 ) ( 1 ) Earnings (Loss) From Continuing Operations 498 222 554 394 Discontinued operations, net of taxes — 13 — 13 Net Earnings (Loss) $ 498 $ 235 $ 554 $ 407 Basic Earnings (Loss) Per Share Earnings (loss) from continuing operations $ 1.43 $ 0.64 $ 1.59 $ 1.13 Discontinued operations, net of taxes — 0.04 — 0.04 Net earnings (loss) $ 1.43 $ 0.68 $ 1.59 $ 1.17 Diluted Earnings (Loss) Per Share Earnings (loss) from continuing operations $ 1.41 $ 0.64 $ 1.57 $ 1.12 Discontinued operations, net of taxes — 0.04 — 0.04 Net earnings (loss) $ 1.41 $ 0.68 $ 1.57 $ 1.16 Average Shares of Common Stock Outstanding – assuming dilution 352.8 346.5 352.7 349.5 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net Earnings (Loss) $ 498 $ 235 $ 554 $ 407 Other Comprehensive Income (Los

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