International Paper is a global producer of renewable fiber-based packaging and pulp products with manufacturing operations in North America, Latin America, Europe, and North Africa. The company's core business is separated into two segments: Industrial Packaging and Global Cellulose Fibers. The company operates 23 pulp and packaging mills, 162 converting and packaging plants, 16 recycling plants and three bag facilities in the United States. Production facilities in Canada, Europe, North Africa and Latin America include four pulp and packaging mills, 37 converting and packaging plants, and two recycling plants. The company also operates a packaging products distribution business principally through six branches in Asia.

• Employees: 39,000 (as of December 31, 2023)
• Geographic Footprint: North America, Latin America, Europe, and North Africa
• Headquarters: Memphis, Tennessee
• Founded: 1941
• Number of locations/facilities: 23 pulp and packaging mills, 162 converting and packaging plants, 16 recycling plants and three bag facilities in the United States and four pulp and packaging mills, 37 converting and packaging plants, and two recycling plants in Canada, Europe, North Africa and Latin America.
• Revenue: $18.9 billion (FY2023)
• Key Subsidiaries/Brands: Industrial Packaging and Global Cellulose Fibers

• CEO: Mark S. Sutton (since November 2014)
• CFO: Timothy S. Nicholls (since June 2018)
• Board Chair: Mark S. Sutton (since January 2015)
• Other Key Executives: Clay R. Ellis, Aimee Gregg, W. Thomas Hamic, Allison B. Magness, Timothy S. Nicholls, Thomas J. Plath, James P. Royalty, Jr., Joseph R. Saab, Ksenia N. Sosnina

Mark S. Sutton has been with the company for 40 years and has served in various roles of increasing responsibilities. Timothy S. Nicholls has been with the company since 1999.

• Annual Revenue: $18.9 billion (FY2023)
• Net Income: $288 million (FY2023)
• Total Assets: $23.3 billion (as of December 31, 2023)
• Employees: 39,000 (as of December 31, 2023)
• Key Financial Highlights: The company generated free cash flow of approximately $692 million in 2023.

The company's main product categories are:

• Industrial Packaging: Includes containerboard, corrugated packaging, and recycling services. These products are used to protect and promote goods, enable worldwide commerce, and help keep consumers safe.
• Global Cellulose Fibers: Includes pulp for absorbent hygiene products, textiles, construction materials, paints, coatings and other products.

The company's businesses are separated into two segments:

• Industrial Packaging: Focuses on creating fiber-based packaging that protects and promotes goods.
• Global Cellulose Fibers: Focuses on creating safe, quality pulp for a wide range of applications.

The company's current strategic priorities include improving product quality and environmental performance, lowering costs, maintaining reliability of operations, and deploying strategic capital for capacity expansion. The company is also focused on mitigating the impact of challenges through commercial and cost reduction initiatives. The company is advancing its strategies to improve profitability across its portfolio by investing in capabilities in its Industrial Packaging business to enhance its value proposition to align with customer needs and optimizing its Global Cellulose Fibers business by reducing its exposure to commodity pulp. The company is also taking strategic actions to structurally reduce fixed costs in its mill system in both its Industrial Packaging and Global Cellulose Fibers businesses.

The pulp and packaging sectors are large and fragmented, and the areas into which the company sells its principal products are very competitive. The company's products compete with similar products produced by other forest products companies and, in some instances, with companies in other industries and against substitutes for wood-fiber products. Many factors influence the company's competitive position, including price, cost, product quality, and services.

• Market Risks: Adverse developments in general business and economic conditions, including significant inflationary pressures, elevated interest rates, challenging labor market conditions, and adverse effects associated with current geopolitical conditions, could have an adverse effect on the demand for the company's products and its financial condition and results of operations.
• Operational Risks: Material disruptions at one of the company's manufacturing facilities could negatively impact its financial results. The company may not achieve the expected benefits from strategic acquisitions, joint ventures, divestitures, spin-offs, capital investments, capital projects and other corporate transactions.
• Financial Risks: The level of the company's indebtedness could adversely affect its financial condition and impair its ability to operate its business. Changes in credit ratings issued by nationally recognized statistical rating organizations could adversely affect the company's cost of financing and have an adverse effect on the market price of its securities.
• Regulatory Risks: The company is subject to a wide variety of laws, regulations and other governmental requirements that may change in significant ways, and the cost of compliance with such requirements, or the failure to comply with such requirements, could impact its business and results of operations.