IP · 10-K filed 27 Feb 2026 · year to 31 Dec 2025

International Paper

26 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Partners and platforms

London Stock Exchange

subject tonamed as a risk

Maintenance of two exchange listings may adversely affect liquidity in the market for our shares of common stock and result in pricing differentials of shares of common stock between two exchanges.Risk factors (Item 1A)

Also named by DCH

Other companies

Sylvamo Corporation

approximately $274 millionnamed as a risk

Under the tax matters agreement, our potential liability for such assessments would currently be approximately $274 million (adjusted for variation in currency exchange rates).Risk factors (Item 1A)

Also named by PKG

Temple Inland timber monetization letter-of-credit banks

depends on · $487 millionnamed as a risk

The downgrade of one or more of these banks may subject us to additional costs of securing a replacement letter-of-credit bank or could result in an acceleration of deferred income taxes of $487 million if replacement banks cannot be obtained.Risk factors (Item 1A)

United Steelworkers union (USW)

approximately 8,622 employeesnamed as a risk

The mill master collective bargaining agreement and related mill joint pension council master agreement with the United Steelworkers union (the "USW") will expire in August 2027 and September 2027, respectively.Risk factors (Item 1A)

American Industrial Partners

$1.5 billion

Strategic Divestiture: Sold our Global Cellulose Fibers business for $1.5 billion to American Industrial Partners (completed January 2026).Business (Item 1)

DS Smith Ltd.

named as a risk

Failure to remediate a material weakness in DS Smith’s internal control over financial reporting could adversely affect our business and results of operations.Risk factors (Item 1A)

EMEA packaging business separation

named as a risk

The proposed separation of our EMEA packaging business may not be completed, on the currently contemplated timeline or at all.Risk factors (Item 1A)

Places

Brazil

subject to · approximately $394 millionnamed as a risk

Accordingly, the assessments total approximately $394 million (adjusted for variation in currency exchange rates), although interest, penalties and fees continue to accrue.Risk factors (Item 1A)

Also named by ADM, ASO, AZO, BALL, CPAY, CPRT, CTVA, DE and 32 more

Europe

operates in · 14 containerboard mills, 159 converting and packaging plants and 20 recycling plants

Additionally, production facilities in Europe, North Africa and Latin America included 14 containerboard mills, 159 converting and packaging plants and 20 recycling plants.Business (Item 1)

Also named by ADSK, AME, AMRC, ATR, BCSF, BKNG, BMI, BMY and 60 more

United States

operates in · 15 packaging mills, 159 converting and packaging plants and 15 recycling plants

In the United States, as of the date of this filing, the Company operated 15 packaging mills, 159 converting and packaging plants and 15 recycling plants.Business (Item 1)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

Hazards

Russia-Ukraine war

exposed to its pricenamed as a risk

Volatile and increasing energy prices, including as a consequence of the conflict between Russia and Ukraine as well as heightened geopolitical tensions in regions such as the Middle East, China, and recent events in Venezuela, or a failure to effectively implement such strategies and tools could have a material adverse effect on our business, financial condition, results of operations and/or future prospects.Risk factors (Item 1A)

Also named by ADSK, ATR, AVAV, CSCO, CTVA, EMR, FIS, FLO and 21 more

Commodities and inputs

Natural gas

exposed to its pricenamed as a risk

We have significant exposure to energy costs, in particular gas, electricity and other fuel costs.Risk factors (Item 1A)

Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more

Wood fiber

exposed to its pricenamed as a risk

The market price of virgin wood fiber varies based on availability, demand, quality, and source.Risk factors (Item 1A)

Also named by LPX, PKG

Caustic soda

depends onnamed as a risk

We rely heavily on the use of certain raw materials (principally virgin wood fiber, recycled fiber, caustic soda, starch and adhesives), energy sources (principally biomass, natural gas, electricity and fuel oil) and third-party transport companies.Risk factors (Item 1A)

Also named by AA

Old corrugated containers (OCC) / recycled fiber

exposed to its pricenamed as a risk

In addition, the increase in demand of products manufactured, in whole or in part, from recycled fiber, on a global basis, may cause significant fluctuations in recycled fiber prices.Risk factors (Item 1A)

Regulators

Italian Competition Authority

subject tonamed as a risk

We are further subject to a number of actual and threatened claims for compensation arising out of or relating to the decision by the Italian Competition Authority.Risk factors (Item 1A)

UK Financial Conduct Authority

subject to

By virtue of our secondary listing on the London Stock Exchange, International Paper is now subject to certain board composition disclosure requirements under the UK Listing Rules (the “UKLR”) established by the UK Financial Conduct Authority (the "FCA").Business (Item 1)

Also named by CG, CME, EVR, HIG, HOOD, IBKR, KKR, RITM and 1 more

Laws and programs

OECD Pillar Two global minimum tax

subject to · 15%named as a risk

It is possible that the Pillar Two rule could adversely impact our effective tax rate in future periods.Risk factors (Item 1A)

Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more

U.S. tariffs (IEEPA)

subject tonamed as a risk

Tariffs have increased the cost of certain capital items, including materials and equipment used in our capital investments.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

CERCLA

subject tonamed as a risk

The Company has been named as a potentially responsible party ("PRP") in environmental remediation actions under various federal and state laws, including the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended ("CERCLA").Business (Item 1)

Also named by AA, AAOI, ALB, AN, APD, APLD, ATI, AWK and 27 more

Sherman Act

subject tonamed as a risk

In addition, International Paper has been named as a defendant in a purported class action complaint that alleges civil violation of Sections 1 and 3 of the Sherman Act.Risk factors (Item 1A)

EU Corporate Sustainability Reporting Directive (CSRD)

subject to

The Company’s first reporting year under the CSRD is expected to be 2028.Business (Item 1)

Also named by AMAT, AVY, CBRE, FFIV, GNRC, HLT, IEX, INGR and 19 more

EU Emissions Trading System (EU ETS)

exposed to its price

Our operations in the EU experience indirect impacts of the EU ETS through purchased power pricing.Business (Item 1)

Also named by DAL, EXPD, UAL, WLFC

EU Deforestation Regulation (EUDR)

subject to

The Company is evaluating the implications of the EUDR to its business with expected reporting to begin after December 30, 2026.Business (Item 1)

Also named by HSY, ICE, MDLZ, WST

California SB 253

subject to

California Climate Corporate Data Accountability Act (SB 253) requires annual public reporting of Scope 1 and Scope 2 GHG emissions, beginning with fiscal-year 2025 data to be disclosed by August 2026.Business (Item 1)

Also named by PRI

Technology

Plastic packaging

competes withnamed as a risk

Advances in non-fiber technologies such as plastic packaging or other materials could result in decreased demand for our products.Risk factors (Item 1A)