filings.toolsInternational Paper (IP) 10-K risk factor changes: FY2024 vs FY2023
The 2024-12-31 10-K against the 2023-12-31 one, compared heading by heading and sentence by sentence.
All filing items0 rewritten4,087 added3,896 removed0 unchanged
Summary
counted, not written
- Item 1A headings could not be compared: the parser did not find an Item 1A in both filings.
- Sentence by sentence, 4,087 added, 3,896 removed, 0 rewritten and 0 unchanged across 3 items that differ.
- New this year: Full document.
- Not in this year's filing: Cover and table of contents; Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Sentences by item
3 items, with every count and a link to each item that changed
| Item | Added | Removed | Rewritten | Unchanged |
|---|---|---|---|---|
| Full documentnew | 4,087 | 0 | 0 | 0 |
| Cover and table of contentsdropped | 0 | 878 | 0 | 0 |
| Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIESdropped | 0 | 3,018 | 0 | 0 |
Underlined words on a shaded ground are new in FY2024; struck-through words were in FY2023. Sentences that are wholly new or wholly gone are labelled rather than marked.
Full document
0 rewritten, 4,087 added, 0 removed, 0 unchanged
New section this year
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
| | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ☒ | | | | | | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | |
| | | | | | | For the fiscal year ended | | |
| | | | | | | 12/31/2024 | | |
| | | | | | | or | | |
| ☐ | | | | | | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | |
| | | | | | | For the transition period from - to - | | |
Commission File No. 1-3157
INTERNATIONAL PAPER COMPANY
(Exact name of registrant as specified in its charter)
| | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| New York | | | | | | 13-0872805 | | |
| (State or other jurisdiction of incorporation or organization) | | | | | | (I.R.S. Employer Identification No.) | | |
| | | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 6400 Poplar Avenue | | | | | | | | | | | |
| Memphis, | | | | | | Tennessee | | | | | |
| (Address of principal executive offices) | | | | | | | | | | | |
| 38197 | | | | | | | | | | | |
| (Zip Code) | | | | | | | | | | | |
| Registrant's telephone number, including area code: | | | | | | 901 | | | 419-9000 | | |
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Title of each class | | | Trading symbol(s) | | | Name of each exchange on which registered | | |
| Common Shares | | | IP | | | New York Stock Exchange | | |
| Common Shares | | | IPC | | | London Stock Exchange | | |
Securities Registered Pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes ý No ¨
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
Yes ¨ No ý
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ý No ¨
An excerpt. Shown here: all 0 rewritten, 40 of 4,087 added and all 0 removed. The counts are complete. For every sentence, read Full document in the FY2024 filing.
Cover and table of contents
0 rewritten, 0 added, 878 removed, 0 unchanged
Dropped this year
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
| | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ☒ | | | | | | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | |
| | | | | | | For the fiscal year ended | | |
| | | | | | | 12/31/2023 | | |
| | | | | | | or | | |
| ☐ | | | | | | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | |
| | | | | | | For the transition period from - to - | | |
Commission File No. 1-3157
INTERNATIONAL PAPER COMPANY
(Exact name of registrant as specified in its charter)
| | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| New York | | | | | | 13-0872805 | | |
| (State or other jurisdiction of incorporation or organization) | | | | | | (I.R.S. Employer Identification No.) | | |
| | | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 6400 Poplar Avenue | | | | | | | | | | | |
| Memphis, | | | | | | Tennessee | | | | | |
| (Address of principal executive offices) | | | | | | | | | | | |
| 38197 | | | | | | | | | | | |
| (Zip Code) | | | | | | | | | | | |
| Registrant's telephone number, including area code: | | | | | | 901 | | | 419-9000 | | |
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Title of each class | | | Trading symbol(s) | | | Name of each exchange on which registered | | |
| Common Shares | | | IP | | | New York Stock Exchange | | |
Securities Registered Pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes ý No ¨
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
Yes ¨ No ý
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ý No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
An excerpt. Shown here: all 0 rewritten, all 0 added and 40 of 878 removed. The counts are complete. For every sentence, read Cover and table of contents in the FY2023 filing.
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
0 rewritten, 0 added, 3,018 removed, 0 unchanged
Dropped this year
As of the filing of this Annual Report on Form 10-K, the Company’s common shares are traded on the New York Stock Exchange (NYSE: IP).
As of February 9, 2024, there were approximately 8,188 record holders of common stock of the Company.
We pay regular quarterly cash dividends and expect to continue to pay regular quarterly cash dividends in the foreseeable future, though each quarterly dividend payment is subject to review and approval by our Board of Directors.
The table below presents information regarding the Company’s purchases of its equity securities for the time periods presented.
PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS.
| | | | | | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Period | | | Total Number of Shares Purchased (a) | | | Average Price Paid per Share | | | Total Number of Shares (or Units) Purchased as Part of Publicly Announced Programs | | | Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (in billions) | | |
| October 1, 2023 - October 31, 2023 | | | 5,373 | | | $ | 35.19 | | — | | | $ | 2.96 | |
| November 1, 2023 - November 30, 2023 | | | 3,992 | | | 33.71 | | | — | | | 2.96 | | |
| December 1, 2023 - December 31, 2023 | | | 1,241 | | | 38.82 | | | — | | | 2.96 | | |
| Total | | | 10,606 | | | | | | | | | | | |
*(a)10,606 shares were acquired from employees or members of our Board of Directors as a result of share withholdings to pay income taxes under the Company's restricted stock program.
On October 11, 2022, our Board of Directors increased the authorization up to a total of $3.35 billion shares.
This repurchase program does not have an expiration date.
As of December 31, 2023, approximately $2.96 billion aggregate shares of our common stock remained authorized for repurchase.*
PERFORMANCE GRAPH
*The performance graph shall not be deemed "soliciting material" or to be "filed" with the Commission or subject to Regulation 14A or 14C under, or to the liabilities of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") and will not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent*
*the Company specifically incorporates it by reference into such a filing.*
The following line graph compares a $100 investment in Company stock on December 31, 2018 with a $100 investment in our peer group and the S&P Composite-500 Stock Index (S&P 500 Index) also made at market close on December 31, 2018.
The graph portrays total return, 2018-2023, assuming reinvestment of all dividends.
1)The companies included in the peer group are DS Smith PLC, Klabin S.A., Mondi Group, Packaging Corporation of America, Smurfit Kappa Group, Stora Enso Group, and WestRock Company.
2)Returns are calculated in $USD.
[ITEM 6.
RESERVED](#i70edb4f26fa942c5bf19ab3232fdec4d_82)
[ITEM 7.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#i70edb4f26fa942c5bf19ab3232fdec4d_85)
The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes included in “Financial Statements
and Supplementary Data” of this Annual Report on Form 10-K.
In addition to historical consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs that involve significant risks and uncertainties.
Our actual results could differ materially from those discussed in the forward-looking statements.
Factors that could cause or contribute to those differences include those discussed below and elsewhere in this Annual Report on Form 10-K,
particularly in “Risk Factors” and “Forward-Looking Statements.”
The following generally discusses 2023 and 2022 items and year-to-year comparisons between 2023 and 2022.
Discussion of historical items in 2021, and year-to-year comparisons between 2022 and 2021, can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on February 17, 2023, under Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
[EXECUTIVE SUMMARY](#i70edb4f26fa942c5bf19ab3232fdec4d_88)
Full-year 2023 net earnings attributable to shareholders were $288 million ($0.82 per diluted share) compared with $1.5 billion ($4.10 per diluted share) for full-year 2022.
During 2023, International Paper executed well, both commercially and operationally, as we navigated an uncertain and challenging demand environment.
During much of the year, underlying demand for our products was lower as consumers prioritized spending on services and essential goods.
An excerpt. Shown here: all 0 rewritten, all 0 added and 40 of 3,018 removed. The counts are complete. For every sentence, read Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES in the FY2023 filing.