INTERNATIONAL PAPER CO /NEW/
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 27, 2026
IP$35.13-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statement of Cash Flows
| In millions for the years ended December 31 | 2025 | 2024 | 2023 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net earnings (loss) | $(3,516) | $557 | $288 |
| Depreciation and amortization | 2,882 | 1,305 | 1,432 |
| Deferred income tax provision (benefit), net | (855) | (473) | (156) |
| Restructuring charges, net | 618 | 221 | 99 |
| Impairment of goodwill | 2,467 | — | — |
| Net (gains) losses on sales and impairments of businesses | 1,045 | — | — |
| Net (gains) losses on sales and impairments of assets | (70) | (58) | — |
| Net (gains) losses on sales and impairments of equity method investments | — | — | 153 |
| Periodic pension (income) expense, net | 39 | 1 | 94 |
| Equity method dividends received | — | — | 13 |
| Other, net | (78) | 135 | (88) |
| Changes in operating assets and liabilities | |||
| Accounts and notes receivable | 91 | 59 | 255 |
| Contract assets | (21) | 36 | 48 |
| Inventories | 158 | 12 | 73 |
| Accounts payable and other liabilities | (1,027) | (140) | (402) |
| Interest payable | 22 | 16 | (19) |
| Other | (57) | 7 | 43 |
| CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES | 1,698 | 1,678 | 1,833 |
| INVESTMENT ACTIVITIES | |||
| Capital expenditures | (1,857) | (921) | (1,141) |
| Acquisitions, net of cash acquired | 414 | — | — |
| Proceeds from divestitures, net of transaction costs | 141 | — | — |
| Proceeds from sales of equity method investments, net of transaction costs | — | — | 472 |
| Proceeds from sale of fixed assets | 218 | 91 | 4 |
| Proceeds from insurance recoveries | 28 | 25 | — |
| Other | 32 | (3) | (3) |
| CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES | (1,024) | (808) | (668) |
| FINANCING ACTIVITIES | |||
| Issuance of debt | 409 | 102 | 783 |
| Reduction of debt | (255) | (141) | (780) |
| Change in book overdrafts | 181 | (69) | (8) |
| Repurchases of common stock and payments of restricted stock tax withholding | (65) | (23) | (218) |
| Dividends paid | (977) | (643) | (642) |
| Other | (1) | (1) | (1) |
| CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES | (708) | (775) | (866) |
| Effect of Exchange Rate Changes on Cash | 25 | (38) | 10 |
| Change in Cash and Temporary Investments | (9) | 57 | 309 |
| Cash and Temporary Investments | |||
| Beginning of the period | 1,170 | 1,113 | 804 |
| End of the period | $1,161 | $1,170 | $1,113 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.