DISAGGREGATED REVENUE


	2025
Reportable Segments	Packaging Solutions North America	Packaging Solutions EMEA	Corporate & Intersegment	Total
Primary Geographical Markets (a)
United States	$14,431	$—	$8	$14,439
EMEA	—	8,451	—	8,451
Pacific Rim and Asia	31	—	—	31
Americas, other than U.S.	713	—	—	713
Total	$15,175	$8,451	$8	$23,634

(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.


	2024
Reportable Segments	Packaging Solutions North America	Packaging Solutions EMEA	Corporate & Intersegment	Total
Primary Geographical Markets (a)
United States	$13,500	$—	$186	$13,686
EMEA	—	1,355	—	1,355
Pacific Rim and Asia	63	—	1	64
Americas, other than U.S.	730	—	—	730
Total	$14,293	$1,355	$187	$15,835

(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.


	2023
Reportable Segments	Packaging Solutions North America	Packaging Solutions EMEA	Corporate & Intersegment	Total
Primary Geographical Markets (a)
United States	$13,435	$—	$342	$13,777
EMEA	—	1,398	—	1,398
Pacific Rim and Asia	37	—	—	37
Americas, other than U.S.	821	—	—	821
Total	$14,293	$1,398	$342	$16,033

(a) Net sales are attributed to countries based on the location of the reportable segment making the sale.

REVENUE CONTRACT BALANCES

A contract asset is created when the Company recognizes revenue on its customized products prior to having an

unconditional right to payment from the customer, which generally does not occur until title and risk of loss passes

to the customer.

A contract liability is created when customers prepay for goods prior to the Company transferring those goods to the

customer. The contract liability is reduced once control of the goods is transferred to the customer. The majority of

our customer prepayments are received during the fourth quarter each year for goods that will be transferred to

customers over the following twelve months. Contract liabilities of $18 million and $30 million are included in Other

current liabilities in the accompanying consolidated balance sheet as of December 31, 2025 and 2024, respectively.

The difference between the opening and closing balances of the Company's contract assets and contract liabilities

primarily results from the difference between the price and quantity at comparable points in time for goods which we

have an unconditional right to payment or receive prepayment from the customer, respectively.

PERFORMANCE OBLIGATIONS AND SIGNIFICANT JUDGMENTS

International Paper's principal business is to manufacture and sell fiber-based packaging goods. As a general rule,

none of our businesses provide equipment installation or other ancillary services outside of producing and shipping

packaging products to customers.

The nature of the Company's contracts can vary based on the business, customer type and region; however, in all

instances it is International Paper's customary business practice to receive a valid order from the customer, in which

each parties' rights and related payment terms are clearly identifiable.

Contracts or purchase orders with customers could include a single type of product or it could include multiple

types/grades of products. Regardless, the contracted price with the customer is agreed to at the individual product

level outlined in the customer contracts or purchase orders. The Company does not bundle prices; however, we do

negotiate with customers on pricing and rebates for the same products based on a variety of factors (e.g. level of

contractual volume, geographical location, etc.).

Management has concluded that the prices negotiated with each individual customer are representative of the

stand-alone selling price of the product.

Historical Timeline

Fiscal Year	Filed
2025	Feb 27, 2026	Showing above
2024	Feb 21, 2025

2023	Feb 16, 2024

2022	Feb 17, 2023

2021	Feb 18, 2022

2020	Feb 19, 2021

2019	Feb 19, 2020

2018	Feb 20, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

INTERNATIONAL PAPER CO /NEW/ Revenue Disclosure

Historical Timeline

About Revenue Disclosures

Other Available Disclosures