$IP
INTERNATIONAL PAPER CO /NEW/

2023 Q2 Form 10-Q Financial Statement

#000005143423000022 Filed on April 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $4.682B $5.020B
YoY Change -13.12% -4.14%
Cost Of Revenue $3.360B $3.642B
YoY Change -11.72% -5.13%
Gross Profit $1.322B $1.378B
YoY Change -16.49% -1.43%
Gross Profit Margin 28.24% 27.45%
Selling, General & Admin $752.0M $381.0M
YoY Change 150.67% 11.73%
% of Gross Profit 56.88% 27.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $244.0M $241.0M
YoY Change -8.61% -7.66%
% of Gross Profit 18.46% 17.49%
Operating Expenses $996.0M $381.0M
YoY Change 232.0% 11.73%
Operating Profit $326.0M $306.0M
YoY Change -44.27% -12.07%
Interest Expense -$59.00M $103.0M
YoY Change -171.08% 33.77%
% of Operating Profit -18.1% 33.66%
Other Income/Expense, Net -$12.00M $8.000M
YoY Change -144.44% -33.33%
Pretax Income $255.0M $221.0M
YoY Change -50.39% -38.95%
Income Tax $33.00M $48.00M
% Of Pretax Income 12.94% 21.72%
Net Earnings $235.0M $172.0M
YoY Change -54.01% -52.22%
Net Earnings / Revenue 5.02% 3.43%
Basic Earnings Per Share $0.68 $0.49
Diluted Earnings Per Share $0.67 $0.49
COMMON SHARES
Basic Shares Outstanding 347.1M shares 349.3M shares
Diluted Shares Outstanding 346.5M shares 353.3M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $746.0M $636.0M
YoY Change -23.64% -51.89%
Cash & Equivalents $746.0M $636.0M
Short-Term Investments
Other Short-Term Assets $189.0M $149.0M
YoY Change -7.35% -14.37%
Inventory $1.911B $1.939B
Prepaid Expenses
Receivables $3.382B $3.468B
Other Receivables $248.0M $261.0M
Total Short-Term Assets $6.476B $6.615B
YoY Change -8.09% -7.92%
LONG-TERM ASSETS
Property, Plant & Equipment $10.92B $10.45B
YoY Change 6.72% 1.13%
Goodwill $3.043B $3.042B
YoY Change -2.59% -2.75%
Intangibles
YoY Change
Long-Term Investments $2.486B $2.485B
YoY Change -22.65% -13.95%
Other Assets $554.0M $449.0M
YoY Change -2.46% -24.66%
Total Long-Term Assets $17.21B $17.16B
YoY Change -5.64% -4.55%
TOTAL ASSETS
Total Short-Term Assets $6.476B $6.615B
Total Long-Term Assets $17.21B $17.16B
Total Assets $23.68B $23.77B
YoY Change -6.32% -5.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.394B $2.541B
YoY Change -10.6% -4.37%
Accrued Expenses $537.0M $493.0M
YoY Change 2.68% 2.28%
Deferred Revenue $22.00M $36.00M
YoY Change 37.5% 63.64%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $248.0M $367.0M
YoY Change -15.36% 86.29%
Total Short-Term Liabilities $4.067B $4.266B
YoY Change -6.55% 2.99%
LONG-TERM LIABILITIES
Long-Term Debt $5.572B $5.471B
YoY Change 5.63% 0.05%
Other Long-Term Liabilities $3.905B $1.085B
YoY Change 257.6% -1.45%
Total Long-Term Liabilities $9.477B $1.085B
YoY Change 767.86% -1.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.067B $4.266B
Total Long-Term Liabilities $9.477B $1.085B
Total Liabilities $15.28B $5.351B
YoY Change 180.66% 2.06%
SHAREHOLDERS EQUITY
Retained Earnings $9.938B $9.866B
YoY Change 3.99% 7.03%
Common Stock $5.137B $5.148B
YoY Change 0.25% 0.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.751B $4.714B
YoY Change 14.51% 25.51%
Treasury Stock Shares
Shareholders Equity $8.404B $8.389B
YoY Change
Total Liabilities & Shareholders Equity $23.68B $23.77B
YoY Change -6.32% -5.51%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $235.0M $172.0M
YoY Change -54.01% -52.22%
Depreciation, Depletion And Amortization $244.0M $241.0M
YoY Change -8.61% -7.66%
Cash From Operating Activities $528.0M $345.0M
YoY Change 35.38% -41.33%
INVESTING ACTIVITIES
Capital Expenditures $267.0M $341.0M
YoY Change -243.55% -284.32%
Acquisitions
YoY Change
Other Investing Activities $3.000M $2.000M
YoY Change -97.99% -60.0%
Cash From Investing Activities -$264.0M -$339.0M
YoY Change 613.51% 88.33%
FINANCING ACTIVITIES
Cash Dividend Paid $162.0M
YoY Change -6.9%
Common Stock Issuance & Retirement, Net $177.0M
YoY Change -58.64%
Debt Paid & Issued, Net $413.0M
YoY Change 13666.67%
Cash From Financing Activities -230.0M -$108.0M
YoY Change -64.23% -81.48%
NET CHANGE
Cash From Operating Activities 528.0M $345.0M
Cash From Investing Activities -264.0M -$339.0M
Cash From Financing Activities -230.0M -$108.0M
Net Change In Cash 34.00M -$96.00M
YoY Change -111.72% -45.45%
FREE CASH FLOW
Cash From Operating Activities $528.0M $345.0M
Capital Expenditures $267.0M $341.0M
Free Cash Flow $261.0M $4.000M
YoY Change -54.69% -99.48%

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