INTERNATIONAL PAPER CO NEW
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
IP$35.13-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statement of Cash Flows
| In millions for the years ended December 31 | 2023 | 2022 | 2021 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net earnings (loss) | $288 | $1,504 | $1,754 |
| Depreciation, amortization, and cost of timber harvested | 1,432 | 1,040 | 1,210 |
| Deferred income tax provision (benefit), net | (156) | (773) | (291) |
| Restructuring and other charges, net | 99 | 89 | 509 |
| Periodic pension (income) expense, net | 94 | (116) | (112) |
| Net (gains) losses on mark to market investments | — | (65) | 32 |
| Net (gains) losses on sales and impairments of businesses | — | 76 | (358) |
| Net (gains) losses on sales and impairments of equity method investments | 153 | 543 | (205) |
| Net (gains) losses on sales of fixed assets | — | — | (86) |
| Equity method dividends received | 13 | 204 | 159 |
| Equity (earnings) losses, net | (108) | (291) | (313) |
| Other, net | 20 | 108 | 157 |
| Changes in current assets and liabilities | |||
| Accounts and notes receivable | 255 | (59) | (596) |
| Contract assets | 48 | (103) | (49) |
| Inventories | 73 | (162) | (263) |
| Accounts payable and accrued liabilities | (402) | 110 | 519 |
| Interest payable | (19) | 41 | (32) |
| Other | 43 | 28 | (5) |
| CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES | 1,833 | 2,174 | 2,030 |
| INVESTMENT ACTIVITIES | |||
| Invested in capital projects, net of insurance recoveries | (1,141) | (931) | (549) |
| Acquisitions, net of cash acquired | — | — | (80) |
| Proceeds from sales of equity method investments, net of transaction costs | 472 | — | 908 |
| Proceeds from sales of businesses, net of cash divested | — | — | 827 |
| Proceeds from exchange of equity securities | — | 311 | — |
| Proceeds from settlement of Variable Interest Entities | — | — | 4,850 |
| Proceeds from sale of fixed assets | 4 | 13 | 101 |
| Other | (3) | (1) | (3) |
| CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES | (668) | (608) | 6,054 |
| FINANCING ACTIVITIES | |||
| Repurchases of common stock and payments of restricted stock tax withholding | (218) | (1,284) | (839) |
| Issuance of debt | 783 | 1,011 | 1,512 |
| Reduction of debt | (780) | (1,017) | (2,509) |
| Change in book overdrafts | (8) | 1 | 65 |
| Dividends paid | (642) | (673) | (780) |
| Reduction of Variable Interest Entity loans | — | — | (4,220) |
| Distribution to Sylvamo Corporation | — | — | (130) |
| Net debt tender premiums paid | — | (89) | (456) |
| Other | (1) | (3) | (18) |
| CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES | (866) | (2,054) | (7,375) |
| Effect of Exchange Rate Changes on Cash | 10 | (3) | (9) |
| Change in Cash and Temporary Investments | 309 | (491) | 700 |
| Cash and Temporary Investments | |||
| Beginning of the period | 804 | 1,295 | 595 |
| End of the period | $1,113 | $804 | $1,295 |
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