Activity between the Company and the 2015 Financing Entities (the Entities prior to the purchase of the Class A interest discussed above) was as follows: | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | In millions | 2016 | | 2015 | | 2016 | | 2015 | Revenue (a) | $ | 24 |
| | $ | 9 |
| | $ | 71 |
| | $ | 27 |
| Expense (a) | 32 |
| | 19 |
| | 96 |
| | 56 |
| Cash receipts (b) | 47 |
| | 11 |
| | 76 |
| | 21 |
| Cash payments (c) | 64 |
| | 20 |
| | 98 |
| | 56 |
|
| | (a) | For the three months and nine months ended September 30, 2016, the revenue and expense are included in Interest expense, net in the accompanying consolidated statement of operations. For the three months and nine months ended September 30, 2015, the net expense related to the Company’s interest in the Entities is included in the accompanying consolidated statement of operations, as International Paper has and intends to effect its legal right to offset as discussed above. |
| | (b) | For the three months and nine months ended September 30, 2016, cash receipts are interest received on the Financial assets of special purpose entities. For the three months and nine months ended September 30, 2015, the cash receipts are equity distributions from the Entities to International Paper prior to the formation of the 2015 Financing Entities. |
| | (c) | For the three months and nine months ended September 30, 2016, the payments represent interest paid on Nonrecourse financial liabilities of special purpose entities. For the three months and nine months ended September 30, 2015, the cash payments are interest payments on the associated debt obligations of the Entities discussed above. |
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