v3.26.1
LEASES
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASES LEASES
International Paper leases various real estate, including certain operating facilities, warehouses, office space and land. The Company also leases material handling equipment, vehicles, and certain other equipment. The Company's leases have a remaining lease term of up to 27 years. Total lease costs were $119 million and $115 million for the three months ended June 30, 2026 and 2025, respectively, and $234 million and $211 million for the six months ended June 30, 2026 and 2025, respectively.

Supplemental Balance Sheet Information Related to Leases

In millionsClassificationJune 30, 2026December 31, 2025
Assets
Operating lease assetsRight-of-use assets$672 $697 
Finance lease assetsPlants, properties and equipment, net (a)79 70 
Total leased assets$751 $767 
Liabilities
Current
OperatingOther current liabilities$215 $221 
FinanceNotes payable and current maturities of long-term debt18 17 
Noncurrent
OperatingLong-term lease obligations471 486 
FinanceLong-term debt61 54 
Total lease liabilities$765 $778 

(a)Finance leases are recorded net of accumulated amortization of $71 million and $69 million as of June 30, 2026 and December 31, 2025, respectively.
LEASES LEASES
International Paper leases various real estate, including certain operating facilities, warehouses, office space and land. The Company also leases material handling equipment, vehicles, and certain other equipment. The Company's leases have a remaining lease term of up to 27 years. Total lease costs were $119 million and $115 million for the three months ended June 30, 2026 and 2025, respectively, and $234 million and $211 million for the six months ended June 30, 2026 and 2025, respectively.

Supplemental Balance Sheet Information Related to Leases

In millionsClassificationJune 30, 2026December 31, 2025
Assets
Operating lease assetsRight-of-use assets$672 $697 
Finance lease assetsPlants, properties and equipment, net (a)79 70 
Total leased assets$751 $767 
Liabilities
Current
OperatingOther current liabilities$215 $221 
FinanceNotes payable and current maturities of long-term debt18 17 
Noncurrent
OperatingLong-term lease obligations471 486 
FinanceLong-term debt61 54 
Total lease liabilities$765 $778 

(a)Finance leases are recorded net of accumulated amortization of $71 million and $69 million as of June 30, 2026 and December 31, 2025, respectively.