International Paper 2014 Annual Report Download - page 53

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2012:
(h) Includes restructuring and other charges of $65
million before taxes ($46 million after taxes)
including pre-tax charges of $48 million ($30
million after taxes) for early debt extinguishment
costs, pre-tax charges of $17 million ($12 million
after taxes) for costs associated with the
restructuring of the Company's Packaging
business in EMEA. Also included are a pre-tax
charge of $20 million ($12 million after taxes)
related to the write-up of the Temple-Inland
inventories to fair value, pre-tax charges of $164
million ($108 million after taxes) for integration
costs associated with the acquisition of Temple-
Inland, a pre-tax charge of $62 million ($38 million
after taxes) to adjust the long-lived assets of the
Hueneme mill in Oxnard, California to their fair
value in anticipation of its divestiture, and pre-tax
charges of $29 million ($55 million after taxes) for
costs associated with the divestiture of three
containerboard mills.
(i) Includes the operating earnings of the xpedx
business and the Temple-Inland Building Products
business, pre-tax charges of $44 million ($28
million after taxes) for costs associated with the
restructuring of the Company's xpedx operations
and pre-tax charges of $15 million ($9 million after
taxes) for expenses associated with pursuing the
divestiture of the Temple-Inland Building Products
business.
(j) Includes a net tax expense of $14 million related to
internal restructurings and a $5 million expense to
adjust deferred tax assets related to post-
retirement prescription drug coverage (Medicare
Part D reimbursement).
2011:
(k) Includes restructuring and other charges of $53
million before taxes ($32 million after taxes)
including pre-tax charges of $32 million ($19 million
after taxes) for early debt extinguishment costs,
pre-tax charges of $18 million ($12 million after
taxes) for costs associated with the acquisition of
a majority share of Andhra Pradesh Paper Mills
Limited in India, pre-tax charges of $20 million ($12
million after taxes) for costs associated with signing
an agreement to acquire Temple-Inland, and a pre-
tax gain of $24 million ($15 million after taxes)
related to the reversal of environmental and other
reserves due to the announced repurposing of a
portion of the Franklin mill. Also included are a pre-
tax charge of $27 million ($17 million after taxes)
for an environmental reserve related to the
Company’s property in Cass Lake, Minnesota, a
pre-tax charge of $129 million ($104 million after
taxes) for a fixed-asset impairment of the North
American Shorewood business, pre-tax charges of
$78 million (a gain of $143 million after taxes) to
reduce the carrying value of the Shorewood
business based on the terms of the definitive
agreement to sell that business, and a charge of
$11 million (before and after taxes) for asset
impairment costs associated with the Inverurie,
Scotland mill which was closed in 2009.
(l) Includes a pre-tax gain of $50 million ($30 million
after taxes) for an earnout provision related to the
sale of the Company’s Kraft Papers business
completed in January 2007. Also, the Company
sold its Brazilian Coated Paper business in the third
quarter 2006. Local country tax contingency
reserves were included in the business’ operating
results in 2005 and 2006 for which the related
statute of limitations has expired. The reserves
were reversed and a tax benefit of $15 million plus
associated interest income of $6 million ($4 million
after taxes) was recorded. Also included are the
operating results of our xpedx business and pre-
tax charges of $49 million ($34 million after taxes)
for costs associated with the restructuring of the
Company's xpedx business.
(m) Includes a tax benefit of $222 million related to the
reduction of the carrying value of the Shorewood
business and the write-off of a deferred tax liability
associated with Shorewood, a $24 million tax
expense related to internal restructurings, a $9
million tax expense for costs associated with our
acquisition of a majority share of Andhra Pradesh
Paper Mills Limited in India, a $13 million tax benefit
related to the release of a deferred tax asset
valuation allowance, and a $2 million tax expense
for other items.
2010:
(n) Includes restructuring and other charges of $390
million before taxes ($239 million after taxes)
including pre-tax charges of $315 million ($192
million after taxes) for shutdown costs related to the
Franklin, Virginia mill, a pre-tax charge of $35
million ($21 million after taxes) for early debt
extinguishment costs, pre-tax charges of $7 million
($4 million after taxes) for closure costs related to
the Bellevue, Washington container plant, a pre-tax
charge of $11 million ($7 million after taxes) for an
Ohio Commercial Activity tax adjustment, a pre-tax
charge of $2 million ($1 million after taxes) for
severance and benefit costs associated with the
Company’s S&A reduction initiative, and a pre-tax
charge of $8 million ($5 million after taxes) for costs
associated with the reorganization of the
Company’s Shorewood operations. Also included
are a pre-tax charge of $18 million ($11 million after