Overview Financials News + Filings IR Vault Key Docs Charts Transactions Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-05-18 | Dec-31-17 | Dec-31-16 |
| | 8-K | 10-K | 10-K | 10-K | 10-K | 8-K | 10-K | 10-K |
| Revenues: |
| Industrial Packaging | | 16,326.0 | 14,900.0 | 15,260.0 | 15,900.0 | | 15,077.0 | 14,142.0 |
| Printing Papers | | | | | 4,375.0 | | 4,157.0 | 4,062.0 |
| Corporate & Other | | | | | | | 131.0 | |
| Global Cellulose Fibers | | 2,732.0 | 2,393.0 | 2,680.0 | 2,819.0 | | 2,551.0 | 1,090.0 |
| Other | | 305.0 | 272.0 | 377.0 | 212.0 | | | 201.0 |
| Total revenues [+] | 21,161.0 | 19,363.0 | 17,565.0 | 18,317.0 | 23,306.0 | 23,306.0 | 21,743.0 | 19,495.0 |
| Products | 21,161.0 | 19,363.0 | 17,565.0 | 18,317.0 | 23,306.0 | 23,306.0 | 21,743.0 | |
| Revenue growth [+] | 9.3% | 10.2% | -4.1% | -21.4% | 7.2% | | 11.5% | -5.7% |
| Industrial Packaging | | 9.6% | -2.4% | -4.0% | 5.5% | | 6.6% | -2.4% |
| Printing Papers | | | | | 5.2% | | 2.3% | -0.5% |
| Global Cellulose Fibers | | 14.2% | -10.7% | -4.9% | 10.5% | | 134.0% | 10.5% |
| Intersegment Eliminations | | | | | | | | -89.0% |
| Cost of goods sold [+] | 15,143.0 | 13,971.0 | 12,475.0 | 12,802.0 | 15,726.0 | 15,555.0 | 14,971.0 | 13,573.0 |
| Cost of product sales | | | | | | | | 13,419.0 |
| Direct taxes | | 139.0 | 136.0 | 133.0 | 171.0 | | 169.0 | 154.0 |
| Gross profit | 6,018.0 | 5,392.0 | 5,090.0 | 5,515.0 | 7,580.0 | 7,751.0 | 6,772.0 | 5,922.0 |
| Gross margin | 28.4% | 27.8% | 29.0% | 30.1% | 32.5% | 33.3% | 31.1% | 30.4% |
| Selling, general and administrative [+] | 3,224.0 | 2,829.0 | 2,640.0 | 2,699.0 | 3,290.0 | 3,461.0 | 3,055.0 | 2,695.0 |
| Sales and marketing | 3,076.0 | | | | | 3,290.0 | | |
| General and administrative | 148.0 | | | | | 171.0 | | |
| Other selling, general and administrative | 3,076.0 | | | | | 3,290.0 | | |
| Equity in earnings | 6.0 | 313.0 | 77.0 | 250.0 | 336.0 | | 177.0 | 198.0 |
| Other operating expenses | 875.0 | -532.0 | -681.0 | -462.0 | 58.0 | 1,944.0 | -81.0 | 180.0 |
| EBITDA [+] | | 3,408.0 | 3,208.0 | 3,528.0 | 4,568.0 | | 3,975.0 | 3,245.0 |
| EBITDA growth | -43.5% | 6.2% | -9.1% | -22.8% | 14.9% | | 22.5% | -20.8% |
| EBITDA margin | 9.1% | 17.6% | 18.3% | 19.3% | 19.6% | 10.1% | 18.3% | 16.6% |
| Depreciation | | 1,053.0 | 1,046.0 | 1,027.0 | 1,269.0 | | 1,266.0 | 1,070.0 |
| EBITA | 1,925.0 | 2,355.0 | 2,162.0 | 2,501.0 | 3,299.0 | 2,346.0 | 2,709.0 | 2,175.0 |
| EBITA margin | 9.1% | 12.2% | 12.3% | 13.7% | 14.2% | 10.1% | 12.5% | 11.2% |
| Amortization of intangibles | | 44.0 | 45.0 | 45.0 | 59.0 | | 77.0 | 54.0 |
| EBIT [+] | 1,925.0 | 2,311.0 | 2,117.0 | 2,456.0 | 3,240.0 | 2,346.0 | 2,632.0 | 2,121.0 |
| EBIT growth | -16.7% | 9.2% | -13.8% | -24.2% | 23.1% | | 24.1% | -27.6% |
| EBIT margin | 9.1% | 11.9% | 12.1% | 13.4% | 13.9% | 10.1% | 12.1% | 10.9% |
| Non-recurring items [+] | 89.0 | 502.0 | 660.0 | 288.0 | 151.0 | 29.0 | 430.0 | 124.0 |
| Asset impairment | | -7.0 | 465.0 | 205.0 | 122.0 | | | |
| Loss (gain) on disposal of assets | | | | | | | 9.0 | 70.0 |
| Legal settlement | | | | 32.0 | | | 354.0 | |
| Interest expense, net [+] | 325.0 | 380.0 | 531.0 | 546.0 | 574.0 | 536.0 | 596.0 | 507.0 |
| Interest expense | 325.0 | 473.0 | 682.0 | 748.0 | 772.0 | 536.0 | 782.0 | 682.0 |
| Interest income | | 93.0 | 151.0 | 202.0 | 198.0 | | 186.0 | 175.0 |
| Other income (expense), net [+] | | -430.0 | -597.0 | -701.0 | -734.0 | | -758.0 | -695.0 |
| Gain (loss) on acquisitions / transactions | | | | | | | -6.0 | |
| Pre-tax income | 1,511.0 | 999.0 | 329.0 | 921.0 | 1,781.0 | 1,781.0 | 848.0 | 795.0 |
| Income taxes | -236.0 | 188.0 | 176.0 | 477.0 | 445.0 | 445.0 | -1,085.0 | 193.0 |
| Tax rate | | 18.8% | 53.5% | 51.8% | 25.0% | 25.0% | | 24.3% |
| Minority interest | | 2.0 | | -5.0 | 5.0 | | | -2.0 |
| Earnings from continuing ops | 1,741.0 | 1,752.0 | 482.0 | 1,225.0 | 2,012.0 | 1,667.0 | 2,144.0 | 904.0 |
| Earnings from discontinued ops | -237.0 | 0.0 | 0.0 | | | 345.0 | | |
| Net income | 1,504.0 | 1,752.0 | 482.0 | 1,225.0 | 2,012.0 | 2,012.0 | 2,144.0 | 904.0 |
| Net margin | 7.1% | 9.0% | 2.7% | 6.7% | 8.6% | 8.6% | 9.9% | 4.6% |
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| Basic EPS [+] | $4.74 | $4.50 | $1.23 | $3.10 | $4.92 | $4.02 | $5.20 | $2.20 |
| Growth | 5.4% | 266.8% | -60.4% | -37.0% | -5.3% | | 136.2% | -2.1% |
| Diluted EPS [+] | $4.74 | $4.46 | $1.22 | $3.07 | $4.86 | $4.02 | $5.13 | $2.18 |
| Growth | 6.2% | 266.5% | -60.3% | -36.8% | -5.4% | | 136.0% | -2.5% |
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| Dividends per share [+] | $1.83 | $2.00 | $2.05 | $2.01 | $1.93 | $1.90 | $1.86 | $1.78 |
| Growth | -8.3% | -2.4% | 1.8% | 4.6% | 3.3% | | 4.5% | 8.6% |
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| Shares outstanding (basic) [+] | 367.0 | 389.4 | 393.0 | 395.3 | 409.1 | 414.2 | 412.7 | 411.1 |
| Growth | -5.8% | -0.9% | -0.6% | -3.4% | -0.9% | | 0.4% | -1.5% |
| Shares outstanding (diluted) [+] | 367.0 | 392.4 | 395.7 | 398.8 | 414.2 | 414.2 | 417.7 | 415.6 |
| Growth | -6.5% | -0.8% | -0.8% | -3.7% | -0.8% | | 0.5% | -1.2% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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