International Paper 2012 Annual Report Download - page 117

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($13 million after taxes) related to the reversal of
environmental reserves due to the announced
repurposing of a portion of the Franklin mill, a
pre-tax charge of $10 million ($6 million after
taxes) for costs associated with the restructuring
of the Company’s xpedx operations, and a pre-
tax charge of $129 million ($104 million after
taxes) for a fixed-asset impairment of the North
American Shorewood business.
(k) Includes a pre-tax charge of $16 million ($10
million after taxes) for costs associated with the
acquisition of a majority share of Andhra Pra-
desh Paper Mills Limited in India, a pre-tax
charge of $18 million ($13 million after taxes) for
costs associated with the restructuring of the
Company’s xpedx operations, a pre-tax charge
of $8 million ($5 million after taxes) for costs
associated with signing an agreement to acquire
Temple-Inland, a pre-tax charge of $6 million ($4
million after taxes) for costs associated with the
sale of the Company’s Shorewood operations,
and a pre-tax charge of $82 million (a gain of
$140 million after taxes) to reduce the carrying
value of the Shorewood business based on the
terms of the definitive agreement to sell this
business.
(l) 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,
and noncontrolling interest income of $8 million
(before and after taxes) associated with the fixed
asset impairment of Shorewood Mexico.
(m) Includes a pre-tax charge of $17 million ($13
million after taxes) for an inventory write-off,
severance and other costs associated with the
restructuring of the Company’s xpedx oper-
ations, a pre-tax charge of $12 million ($7 million
after taxes) for costs associated with the signing
of an agreement to acquire Temple-Inland, a
pre-tax gain of $4 million ($3 million after taxes)
for an adjustment to the previously recorded
loss to reduce the carrying value of the Compa-
ny’s Shorewood business, a charge of $3 million
(before and after taxes) for asset impairment
charges at our Inverurie, Scotland mill which
was closed in 2009, and a gain of $6 million
(before and after taxes) for interest associated
with a tax claim.
(n) Includes a $24 million expense related to
internal restructurings, a $9 million expense for
costs associated with our acquisition of a
majority interest in Andhra Pradesh Paper Mills
Limited, a $13 million tax benefit related to the
release of a deferred tax asset valuation allow-
ance, and a $2 million expense for other items.
90