International Paper Co (IP) 1999年年度报告「NYSE」.pdf

1、aInternational Paper:From Innovation to ResultsOUR 1999 ANNUAL REPORTDollar amounts and shares in millions,except per share amounts19991998FINANCIAL SUMMARYNet Sales$24,573$23,979Operating Profit1,81011,3751Earnings Before Income Taxes,Minority Interest and Extraordinary Item44824293Net Earnings 183

2、22473Total Assets30,26831,466Common Shareholders Equity10,30410,738Return on Investment2.6%2.5%PER SHARE OF COMMON STOCKEarnings Before Extraordinary Item$0.482$0.603Earnings Assuming Dilution0.4420.603Cash Dividends1.0141.054Common Shareholders Equity24.9526.13SHAREHOLDER PROFILEShareholders of Rec

3、ord at December 3132,88131,050Shares Outstanding at December 31414.6413.2Average Shares Outstanding413.0411.01See the operating profit table on page 30 for details of operating profit by industry segment.Results of equity investees are not included in operating profit.2Includes a$148 million pre-tax

4、 charge($97 million after taxes)for Union Camp merger-related termination benefits,a$107 million pre-tax charge($78 million after taxes)for one-timemerger expenses,a$298 million pre-tax charge($180 million after taxes and minority interest expense)for asset shutdowns of excess internal capacity and

5、cost reduction actions,a$10million pre-tax charge($6 million after taxes)to increase existing environmental remediation reserves related to certain former Union Camp facilities,a$30 million pre-tax charge($18million after taxes)to increase existing legal reserves and a$36 million pre-tax credit($27

6、million after taxes)for the reversal of reserves that were no longer required.Return on invest-ment was 4.0%before these items.3Includes a$20 million pre-tax gain($12 million after taxes)on the sale of the Veratec nonwovens business,an$83 million pre-tax gain($50 million after taxes)from the reversa