This Current Report on Form 8-K is being filed to update the historical financial statements included in International Paper Company's Annual Report on Form 10-K for the year ended December 31, 2008 (the "2008 Form 10-K") to reflect the retrospective application of Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements (the "Statement"). The Company adopted the Statement prospectively effective January 1, 2009. However, the Statement requires retrospective application to comparative financial statements. Accordingly, the Company has revised all comparative prior period information to give effect to the presentation and disclosure requirements of the Statement.

The Company is filing this Current Report on Form 8-K to reflect the impact of this change to permit the Company to incorporate these financial statements by reference in future filings with the Securities and Exchange Commission.

The effect of the retrospective application of the Statement is set forth in the following sections of the Company's 2008 Form 10-K.

• Part II, Item 6. Selected Financial Data;

• Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations;

• Part II, Item 8. Financial Statements and Supplementary Data;

• Exhibit 11 Statement of Computation of Per Share Earnings; and

• Exhibit 12 Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends.

(d) Exhibits

Exhibit 11      Statement of Computation of Per Share Earnings.

Exhibit 12      Computation of Ratio of Earnings to Fixed Charges and Preferred
                Stock Dividends.

Exhibit 23.1    Consent of Independent Registered Public Accounting Firm.

Exhibit 99.1    Updated Selected Financial Data, Management's Discussion and
                Analysis of Financial Condition and Results of Operations and
                Financial Statements and Supplementary Data, for the years ended
                December 31, 2008, 2007 and 2006.