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Midas Edge

INTERNATIONAL PAPER CO /NEW/

For the period ended Jun 30, 2026. Filed Aug 5, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 5, 2026

IP$35.53+2.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

Condensed Consolidated Statement of Operations

(In millions, except per share amounts)

Three Months EndedJune 30Six Months EndedJune 30
2026202520262025
Net Sales$6,004$6,142$11,975$11,406
Costs and Expenses
Cost of products sold4,3444,4228,5888,227
Selling and administrative expenses5645251,0741,012
Depreciation and amortization488431977951
Distribution expenses5235161,036933
Taxes other than payroll and income taxes424183128
Restructuring charges, net93932122
Net (gains) losses on sales and impairments of businesses(11)(51)(11)(51)
Net (gains) losses on sales and impairments of assets———(67)
Interest expense, net87108163192
Non-operating pension expense (income)(16)(5)(34)(2)
Earnings (Loss) From Continuing Operations Before Income Taxes and Equity Earnings (Loss)(26)11667(39)
Income tax provision (benefit)(15)4028
Equity earnings (loss), net of taxes(1)(1)(1)(2)
Earnings (Loss) From Continuing Operations$(12)$75$64$(49)
Discontinued operations, net of taxes——(16)19
Net Earnings (Loss)$(12)$75$48$(30)
Basic Earnings (Loss) Per Share
Earnings (loss) from continuing operations$(0.02)$0.14$0.12$(0.10)
Discontinued operations——(0.03)0.04
Net earnings (loss)$(0.02)$0.14$0.09$(0.06)
Diluted Earnings (Loss) Per Share
Earnings (loss) from continuing operations$(0.02)$0.14$0.12$(0.10)
Discontinued operations——(0.03)0.04
Net earnings (loss)$(0.02)$0.14$0.09$(0.06)
Average Shares of Common Stock Outstanding – assuming dilution529.5532.6531.8483.0

Condensed Consolidated Statement of Comprehensive Income (Loss)

Three Months EndedJune 30Six Months EndedJune 30
2026202520262025
Net Earnings (Loss)$(12)$75$48$(30)
Other Comprehensive Income (Loss), Net of Tax:
Amortization of pension and post-retirement prior service costs and net loss:
U.S. plans12162432
Pension and postretirement adjustments:
U.S. plans——168
Non-U.S. plans(3)—(2)—
Change in cumulative foreign currency translation adjustment(83)645(88)1,055
Net gains/(losses) on cash flow hedging derivatives:
Net gains/(losses) on cash flow hedging derivatives(45)—92(52)
Reclassification adjustment for (gains) losses included in net earnings (losses)—817
Total Other Comprehensive Income (Loss), Net of Tax(119)669431,050
Comprehensive Income (Loss)$(131)$744$91$1,020

Condensed Consolidated Balance Sheet

June 30,2026December 31,2025
(unaudited)
Assets
Current Assets
Cash and temporary investments$726$1,145
Accounts and notes receivable, net4,2533,791
Contract assets622635
Assets held for sale—1,800
Inventories1,9612,012
Other current assets682723
Total Current Assets8,24410,106
Plants, Properties and Equipment, net14,82514,443
Goodwill5,2905,326
Intangibles, net3,9404,043
Long-Term Financial Assets of Variable Interest Entities (Note 15)2,3582,349
Right of Use Assets672697
Overfunded Pension Plan Assets533486
Deferred Charges and Other Assets659514
Total Assets$36,521$37,964
Liabilities and Equity
Current Liabilities
Notes payable and current maturities of long-term debt$1,002$992
Accounts payable4,1283,902
Accrued payroll and benefits732834
Liabilities held for sale—502
Other current liabilities1,6441,669
Total Current Liabilities7,5067,899
Long-Term Debt8,2158,839
Deferred Income Taxes1,9501,898
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 15)2,1312,127
Long-Term Lease Obligations471486
Underfunded Pension Benefit Obligation296316
Postretirement and Postemployment Benefit Obligation128133
Other Liabilities1,3691,439
Equity
Common stock, $1 par value, 2026 – 627.0 shares and 2025 – 627.0 shares627627
Paid-in capital14,37214,414
Retained earnings4,4404,885
Accumulated other comprehensive income (loss)(485)(528)
18,95419,398
Less: Common stock held in treasury, at cost, 2026 – 97.5 shares and 2025 – 99.0 shares4,4994,571
Total Equity14,45514,827
Total Liabilities and Equity$36,521$37,964

Condensed Consolidated Statement of Cash Flows

Six Months EndedJune 30
20262025
Operating Activities
Net earnings (loss)$48$(30)
Depreciation and amortization9771,051
Deferred income tax provision (benefit), net(9)(95)
Restructuring charges, net32122
Net (gains) losses on sales and impairments of businesses(8)(51)
Net (gains) losses on sales and impairments of assets—(67)
Periodic pension (income) expense, net616
Other, net37(75)
Changes in operating assets and liabilities
Accounts and notes receivable(303)(211)
Contract assets8(53)
Inventories2928
Accounts payable39448
Other current liabilities(182)(347)
Other current assets108(148)
Cash Provided By (Used For) Operations1,137188
Investment Activities
Capital expenditures(1,050)(752)
Acquisitions, net of cash acquired(455)419
Proceeds from divestitures, net of cash divested1,083138
Proceeds from sale of fixed assets3193
Proceeds from insurance recoveries4428
Other(2)36
Cash Provided By (Used For) Investment Activities(349)(38)
Financing Activities
Issuance of debt92349
Reduction of debt(593)(149)
Change in book overdrafts(185)99
Repurchases of common stock and payments of restricted stock tax withholding(31)(63)
Dividends paid(490)(488)
Other(5)(1)
Cash Provided By (Used For) Financing Activities(1,212)(253)
Effect of Exchange Rate Changes on Cash and Temporary Investments(11)68
Change in Cash and Temporary Investments(435)(35)
Cash and Temporary Investments
Beginning of period1,1611,170
End of period$726$1,135
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.