NOTE 1 – BASIS OF
PRESENTATION
The accompanying unaudited
consolidated financial statements have been prepared in conformity
with accounting principles generally accepted in the United States
and in accordance with the instructions to Form 10-Q and, in the
opinion of Management, include all adjustments that are necessary
for the fair presentation of the Company’s financial
position, results of operations, and cash flows for the interim
periods presented. Except as disclosed herein, such adjustments are
of a normal, recurring nature. Results for the first three months
of the year may not necessarily be indicative of full year results.
It is suggested that these consolidated financial statements be
read in conjunction with the audited financial statements and the
notes thereto included in International Paper’s (the Company)
Annual Report on Form 10-K for the year ended December 31,
2009 which have previously been filed with the Securities and
Exchange Commission.
International Paper
accounts for its investment in Ilim Holding S.A. (Ilim), a separate
reportable industry segment, using the equity method of accounting.
Due to the complex organizational structure of Ilim’s
operations, and the extended time required to prepare consolidated
financial information in accordance with accounting principles
generally accepted in the United States, the Company reports its
share of Ilim’s operating results on a one-quarter lag
basis.
Free historical financial statements for International Paper Co..
See how revenue, income, cash flow, and balance sheet financials have changed over 59 quarters since 2010. Compare with IP stock chart to see long term trends.
Data imported from International Paper Co. SEC filings. Check original filings before making any investment decision.