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PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Dec. 31, 2011

Qualified and Registered Pension Plans

Dec. 31, 2011

Pension

Sep. 30, 2009

Pension

Dec. 31, 2010

Pension

Dec. 31, 2011

Non Registered Canadian Pension Plans

Dec. 31, 2011

United States

Qualified and Registered Pension Plans

Dec. 31, 2011

United States

Other Postretirement Benefits

Sep. 30, 2010

United States

Other Postretirement Benefits

Dec. 31, 2009

United States

Other Postretirement Benefits

Sep. 30, 2009

Canada

Other Postretirement Benefits

Dec. 31, 2011

Derivatives

Qualified and Registered Pension Plans

Dec. 31, 2011

Derivatives, Aggregate Notional Amount

Qualified and Registered Pension Plans

Multiemployer Plan, Significant Changes Impacting Comparability

There have been no significant changes that affect the comparability of the 2011, 2010 and 2009 contributions. None of our contributions exceeded more than five percent of any plan's total contributions during 2011, 2010 and 2009.

Schedule of Health Care Cost Trend Rates [Table Text Block]

Assumptions We Use in Estimating Health Care Benefit Costs



	2011				2010
	U.S.		CANADA		U.S.		CANADA
Weighted health care cost trend rate assumed for next year	6.80	%	7.30	%	8.00	%	7.50	%
Rate to which cost trend rate is assumed to decline (ultimate trend rate)	4.50	%	4.50	%	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2029		2030		2030		2030

ActualReturnLossOnPlanAssets [Table Text Block]

Actual Returns (Losses) on Assets Held by Our Pension Trusts



DOLLAR AMOUNTS IN MILLIONS
	2011		2010		2009
Direct investments	$	48	$	362	$	525
Derivatives	1		153		166
Total	$	49	$	515	$	691

Schedule of Expected Benefit Payments [Table Text Block]

Estimated Projected Benefit Payments for the Next 10 Years



DOLLAR AMOUNTS IN MILLIONS
	PENSION		OTHER POSTRETIREMENT BENEFITS
2012	$	317	$	42
2013	$	323	$	39
2014	$	331	$	36
2015	$	337	$	34
2016	$	347	$	32
2017-2021	$	1,848	$	140

DiscountRatesAndRatesOfCompensationUsedInEstimatingPensionPlanAndOtherPostretirementBenefitObligationsTextBlock [Table Text Block]

Discount Rates and Rates of Compensation Increase Used in Estimating Our Pension and Other Postretirement Benefit Obligation



	PENSION				OTHER POSTRETIREMENT BENEFITS
	DECEMBER 31, 2011		DECEMBER 31, 2010		DECEMBER 31, 2011		DECEMBER 31, 2010
Discount rates:
U.S.	4.50	%	5.40	%	4.10	%	5.00	%
Canada	4.90	%	5.30	%	4.80	%	5.20	%
Lump sum distributions (US salaried and nonqualified plans only) ⁽¹⁾	Variable		Variable		N/A		N/A
Rate of compensation increase:
Salaried:
United States	2.00% for 2011 2.00% for 2012 and 3.5% thereafter		1.75% for 2010 2.00% for 2011 and 3.5% thereafter		N/A		N/A
Canada	2.00% for 2011 2.10% for 2012 and 3.5% thereafter		1.75% for 2010 2.00% for 2011 and 3.5% thereafter		2.00% for 2011 2.10% for 2012 and 3.5% thereafter		3.50	%
Hourly:
United States	3.00	%	3.00	%	3.00	%	3.00	%
Canada	3.25	%	3.25	%	N/A		N/A
Election of lump sum or installment distributions (US salaried and nonqualified plans only)	60.00	%	65.00	%	N/A		N/A
⁽¹⁾ The discount rates applicable to lump sum distributions vary based on expected retirement dates of the covered employees. The discount rates are determined in accordance with the Pension Protection Act.

RatesUsedInEstimatingNetPeriodicBenefitCosts [Table Text Block]

Rates Used to Estimate Our Net Periodic Benefit Costs



	PENSION						OTHER POSTRETIREMENT BENEFITS
	2011		2010		2009		2011		2010		2009
Discount rates:
U.S. ⁽¹⁾	5.40	%	5.90	%	6.30	%	5.00	%	5.20	%	6.30	%
Salaried – lump sum distributions (U.S. salaried and nonqualified plan only) ⁽²⁾	PPA phased Table		PPA phased Table		PPA phased Table		N/A		N/A		N/A
Remeasurement:
Salaried settlement at August 31, 2009					6.10	%
Remeasurement for elimination of life insurance for certain salaried retirees on November 30, 2009											5.60	%
Canada	5.30	%	6.10	%	7.30	%	5.20	%	6.00	%	7.30	%
Remeasurement:
Rate after August 31, 2009 remeasurement for postretirement plan changes											5.90	%
Expected return on plan assets:
Qualified/registered plans	9.50	%	9.50	%	9.50	%
Nonregistered plans (Canada only)	4.75	%	4.75	%	4.75	%
Rate of compensation increase:
Salaried
U.S.	2.00% for 2011 3.50% thereafter		1.75% for 2010 3.50% thereafter		0% for 2009 3.50% thereafter		N/A		N/A		N/A
Canada	2.00% for 2011 3.50 thereafter		1.75% for 2010 3.50% thereafter		0% for 2009 3.50% thereafter		2% for 2011 3.50% thereafter		3.50	%	3.50	%
Hourly:
U.S.	3.00	%	3.00	%	3.00	%	3.00	%	3.00	%	3.00	%
Canada	3.25	%	3.25	%	3.25	%	N/A		N/A		N/A
Election of lump sum distributions (U.S. salaried and nonqualified plans only)	65.00	%	72.00	%	75.00	%	N/A		N/A		N/A
⁽¹⁾2009 rate is for salaried and hourly employees, excluding settlements and elimination of retiree life for certain salaried retirees. ⁽²⁾ PPA Phased Table: Interest and mortality assumptions as mandated by Pension Protection Act of 2006 including the phase out of the prior interest rate basis in 2012.

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

Changes in Amounts Included in Cumulative Other Comprehensive Income



DOLLAR AMOUNTS IN MILLIONS
	PENSION						OTHER POSTRETIREMENT BENEFITS
	2011			2010			2011			2010
Net amount at beginning of year	$	(1,258	)	$	(1,080	)	$	45		$	24
Net change during the year:
Net actuarial gain (loss):
Net actuarial gain (loss) arising during the year, including foreign currency exchange rate changes	(837		)	(250		)	(22		)	78
Amortization of net actuarial loss	140			61			13			11
Taxes	240			1			3			(67		)
Net actuarial gain (loss), net of tax	(457		)	(188		)	(6		)	22
Prior service credit (cost):
Prior service credit (cost) arising during the year	14			(9		)	116			7
Amortization of prior service (credit) cost	23			23			(22		)	(21		)
Taxes	(15		)	(4		)	(34		)	13
Prior service credit (cost), net of tax	22			10			60			(1		)
Net amount recorded during the year	(435		)	(178		)	54			21
Net amount at end of year	$	(1,693	)	$	(1,258	)	$	99		$	45

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

Changes in Projected Benefit Obligations of Our Pension and Other Postretirement Benefit Plans



DOLLAR AMOUNTS IN MILLIONS
	PENSION						OTHER POSTRETIREMENT BENEFITS
	2011			2010			2011			2010
Reconciliation of projected benefit obligation:
Projected benefit obligation beginning of year	$	5,267		$	4,759		$	496		$	591
Service cost	48			44			2			2
Interest cost	276			278			24			24
Plan participants’ contributions	—			—			19			26
Actuarial (gains) losses	611			458			29			(78		)
Foreign currency exchange rate changes	(15		)	44			(1		)	4
Benefits paid (includes lump sum settlements)	(338		)	(332		)	(59		)	(73		)
Plan amendments	(14		)	9			(108		)	(3		)
Special termination benefits	6			5			—			—
Plan assumptions in connection with an acquisition	—			2			—			3
Projected benefit obligation at end of year	$	5,841		$	5,267		$	402		$	496

Types Of Plans We Sponsor

The plans we sponsor in the U.S. and Canada differ according to each country’s requirements.

In the U.S., our pension plans are:


•	qualified — plans that qualify under the Internal Revenue Code; and


•	nonqualified — plans for select employees that provide additional benefits not qualified under the Internal Revenue Code.

In Canada, our pension plans are:


•	registered — plans that are registered under the Income Tax Act and applicable provincial pension acts; and


•	nonregistered — plans for select employees that provide additional benefits that may not be registered under the Income Tax Act or provincial pension acts.

We also offer retiree medical and life insurance plans in the U.S. and Canada. These plans are referred to as other postretirement benefit plans in the following disclosures.

Retirement Compensation Arrangements

Retirement Compensation Arrangements fund a portion of our Canadian nonregistered pension plans.

Under Retirement Compensation Arrangements, our contributions are split:


•	50 percent to our investments in a portfolio of equities; and


•	50 percent to a noninterest-bearing refundable tax account held by Canada Revenue Agency — as required by Canadian tax rules.

The Canadian tax rules requirement means that — on average, over time — approximately 50 percent of our Canadian nonregistered pension plans’ assets do not earn returns.

Benefit Plan Amendment

During fourth quarter 2011, we ratified an amendment to the Weyerhaeuser Pension Plan that eliminated the Retiree Medical Enhancement for active employees effective July 1, 2012. This change reduced the Plan's projected benefit obligation by $16 million. This change was announced to affected participants during January 2012.

During third quarter 2009, we announced changes to the Weyerhaeuser Company Retirement Plan for Salaried Employees for service earned on and after January 1, 2010. The changes included a reduced pension benefit, changes in how benefits payable before age 65 are determined and a change from a single lump sum optional form of payment to an option for seven equal annual installments. There were no changes in the plan’s projected benefit obligation (PBO) for the 2009 plan year as a result of these changes. However, there was a change to the plan’s minimum benefit, which increased for all years of service including those earned prior to January 1, 2010. This change did not have a significant effect on the plan’s PBO, but the change was reflected in the PBO at December 31, 2009 and prior service cost was established as of December 31, 2009. All of the changes affected net periodic pension benefit credits (costs) and required funding beginning in 2010.

Effective December 31, 2010, the Weyerhaeuser Company Retirement Plan for Hourly Rated Employees was merged into the Weyerhaeuser Company Retirement Plan for Salaried Employees resulting in the Weyerhaeuser Pension Plan. There were no changes to the provisions as a result of the plan merger.

During fourth quarter 2011, we ratified amendments to our postretirement medical and life insurance benefit plans for U.S. salaried employees that reduced or eliminated certain medical and life insurance benefits that were available to both past and present employees. The changes included the elimination of the Pre-Medicare Plan II company subsidy for those not enrolled as of July 1, 2012, and eliminated the Post-Medicare Health Reimbursement Account (HRA) for those not enrolled or Medicare eligible, if enrolled, as of July 1, 2012. These changes resulted in a $108 million reduction in the company's postretirement liability as of December 31, 2011. These changes were announced to affected participants during January 2012.

During third quarter 2010, we made changes to our postretirement medical plan for certain retirees in the U.S. Specifically, Medicare eligible retirees will be covered by a Health Reimbursement Account (HRA) as of January 1, 2011. The HRA will allow these retirees to purchase coverage through a healthcare exchange, and will provide additional options for coverage. As a result of this plan change, the company will not be receiving a Medicare Part D subsidy for plan years beginning on or after January 1, 2011. The loss of Medicare Part D subsidy is considered in the calculation of the net prior service credit of $3 million resulting from the plan change. This amount will be amortized into the net periodic benefit costs (credits) over the life expectancy of the affected plan participants.

During fourth quarter 2009, an amendment was approved for our postretirement life insurance benefit for certain U.S. salaried retirees. The change eliminated the life insurance benefit for certain salaried retirees effective January 1, 2010. The plan’s liabilities were re-measured at November 30, 2009. This remeasurement and the annual remeasurement at January 1, 2009 increased the unrecognized loss by $6 million. This change resulted in a $16 million prior service credit, which was fully recognized in 2009.

During third quarter 2009, amendments were approved for our postretirement medical and life insurance benefits for certain retirees and employees covered by plans in Canada. The changes to the Canadian plans included a decrease in the amounts paid for postretirement medical and life insurance for certain retirees and employees. As a result of the plan changes, the plans’ liabilities were re-measured at August 31, 2009. The remeasurement and the annual remeasurement at January 1, 2009 reduced the unrecognized gain by $19 million. The plan changes also generated an unrecognized prior service credit of $97 million which will be amortized into net periodic benefit costs (credits) over the remaining future service years of plan members.

Restructuring Activities

The 2011 curtailments and special termination benefits are related to involuntary terminations due to company-wide restructuring activities, and the sale of our hardwoods and Westwood Shipping Lines operations. The total curtailment charge for U.S. pension plans was $9 million. In addition, we recognized a $3 million settlement charge for a Canadian pension plan in fourth quarter 2011. There were no curtailment charges or credits to the U.S. or Canadian postretirement plans.

Termination benefits were provided under the pension plan in the U.S. for those terminated employees who were not yet eligible to retire but whose age plus service was at least 65 and had at least ten years of service (Rule of 65).

The 2010 curtailments and special termination benefits are related to involuntary terminations due to company-wide restructuring activities, the closure of Wood Products facilities and the sale of five short line railroads. The total curtailment charge for U.S. pension plans was $5 million. There were no curtailment charges or credits to the Canadian pension plans, or the U.S. or Canadian postretirement plans.

The 2009 curtailments and special termination benefits were related to involuntary terminations due to company-wide restructuring activities and the closure of Wood Products facilities. The total curtailment charge for the U.S. and Canadian pension plans was $22 million. The net curtailment credit to the Canadian postretirement benefit plans was less than $1 million. There were no curtailment charges or credits to the U.S. postretirement plans.

Termination benefits were available under both the pension and postretirement benefit plans in the U.S. and Canada, for those terminated employees who were not yet eligible to retire but whose age plus service was at least 65 and had at least ten years of service (Rule of 65).

Components of Net Periodic Benefit Costs (Credits)

Net Periodic Benefit Costs (Credits)



DOLLAR AMOUNTS IN MILLIONS
	PENSION									OTHER POSTRETIREMENT BENEFITS
	2011			2010			2009			2011			2010			2009
Net periodic benefit cost (credit):
Service cost ⁽¹⁾	$	48		$	44		$	56		$	2		$	2		$	2
Interest cost	276			278			275			24			24			38
Expected return on plan assets	(421		)	(448		)	(472		)	—			—			—
Amortization of actuarial loss	136			61			29			13			11			16
Amortization of prior service cost (credit)	14			18			19			(22		)	(21		)	(101		)
Recognition of curtailments, settlements and special termination benefits due to closures, restructuring or divestitures ⁽¹⁾	18			10			112			—			—			8
Other	—			—			—			4			—			—
Net periodic benefit cost (credit)	$	71		$	(37	)	$	19		$	21		$	16		$	(37	)
⁽¹⁾Service cost includes $2 million in 2011 and $3 million in 2010 for employees that were part of the sale of our hardwoods operations. Curtailment and special termination benefits includes charges of $11 million in 2011 related to the sale of our hardwoods and Westwood Shipping Lines operations. These charges are included in our results of discontinued operations.

Expected Return on Plan Assets

Canadian tax rules require that 50 percent of the assets for nonregistered plans go to a noninterest-bearing refundable tax account. As a result, the return we earn investing the other 50 percent is spread over 100 percent of the assets.

Our expected long-term annual rate of return on the equity portion of this portfolio — the portion we are allowed to invest and manage — is 7 percent. We base that expected rate of return on:


•	historical experience and


•	future return expectations.

We reduced the expected overall annual return on assets that fund our nonregistered plan to 3.5 percent at the end of 2011. The revised rate will affect the amount of net periodic benefit costs that we record in 2012.

We reduced our expected long-term rate of return assumption for plan assets to 9.0 percent at the end of 2011. The revised rate will affect the amount of net periodic benefit costs that we record in 2012. The rate is comprised of:


•	a 7.75 percent assumed return from direct investments and


•	a 1.25 percent assumed return from derivatives.

Determining our expected return:


•	requires a high degree of judgment,


•	uses our historical fund returns as a base and


•	places added weight on more recent pension plan asset performance.

Over the 27 years it has been in place, our U.S. pension trust investment strategy has achieved a 14.8 percent net compound annual return rate.

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

Changes in Fair Value of Plan Assets



DOLLAR AMOUNTS IN MILLIONS
	PENSION						OTHER POSTRETIREMENT BENEFITS
	2011			2010			2011			2010
Fair value of plan assets at beginning of year (estimated)	$	4,773		$	4,159		$	—		$	—
Adjustment for final fair value of plan assets	138			166			—			—
Actual return on plan assets	49			515			—			—
Foreign currency exchange rate changes	(11		)	32			—			—
Employer contributions	103			233			40			47
Plan participants’ contributions	—			—			19			26
Benefits paid (includes lump sum settlements)	(338		)	(332		)	(59		)	(73		)
Fair value of plan assets at end of year (estimated)	$	4,714		$	4,773		$	—		$	—

Schedule of Net Funded Status [Table Text Block]

Funded Status of Our Pension and Other Postretirement Benefit Plans



DOLLAR AMOUNTS IN MILLIONS
	PENSION						OTHER POSTRETIREMENT BENEFITS
	2011			2010			2011			2010
Noncurrent assets	$	1		$	—		$	—		$	—
Current liabilities	(21		)	(20		)	(42		)	(45		)
Noncurrent liabilities	(1,107		)	(474		)	(360		)	(451		)
Funded status	$	(1,127	)	$	(494	)	$	(402	)	$	(496	)

Schedule of Allocation of Plan Assets [Table Text Block]

The net pension plan assets, when categorized in accordance with this fair value hierarchy, are as follows:



DOLLAR AMOUNTS IN MILLIONS
2011	Level 1		Level 2		Level 3		Total
Pension trust investments:
Fixed income instruments	$	470	$	71	$	—	$	541
Hedge funds	—		—		2,436		2,436
Private equity and related funds	—		2		1,649		1,651
Real estate and related funds	—		—		96		96
Common and preferred stock and equity index instruments	1		1		—		2
Total pension trust investments	$	471	$	74	$	4,181	$	4,726
Accrued liabilities, net							(27		)
Pension trust net assets							$	4,699
Canadian nonregistered plan assets:
Cash	$	12	$	—	$	—	$	12
Investments	3		—		—		3
Total Canadian nonregistered plan assets	$	15	$	—	$	—	$	15
Total plan assets							$	4,714



DOLLAR AMOUNTS IN MILLIONS
2010	Level 1		Level 2			Level 3		Total
Pension trust investments:
Fixed income instruments	$	711	$	68		$	—	$	779
Hedge funds	—		—			2,284		2,284
Private equity and related funds	—		(4		)	1,575		1,571
Real estate and related funds	—		—			120		120
Common and preferred stock and equity index instruments	2		17			—		19
Total pension trust investments	$	713	$	81		$	3,979	$	4,773
Accrued liabilities, net								(16		)
Pension trust net investments								$	4,757
Canadian nonregistered plan assets:
Cash	$	11	$	—		$	—	$	11
Investments	5		—			—		5
Total Canadian nonregistered plan assets	$	16	$	—		$	—	$	16
Total plan assets								$	4,773

Assets within our qualified and registered pension plans in our U.S. and Canadian pension trusts were invested as follows:



	DECEMBER 31, 2011		DECEMBER 31, 2010
Fixed income	11.5	%	16.4	%
Hedge funds	51.9		48.0
Private equity and related funds	35.1		33.1
Real estate and related funds	2.1		2.5
Common and preferred stock and equity index instruments	—		0.4
Accrued liabilities	(0.6	)	(0.4	)
Total	100.0	%	100.0	%

For our nonregistered plans, we invest 50 percent of the funds we contribute to our nonregistered pension plans. Under Canadian tax rules for Retirement Compensation Arrangements, the other 50 percent is allocated to a noninterest-bearing refundable tax account held by the Canada Revenue Agency. We have invested the assets that we are allowed to manage as follows:



	DECEMBER 31, 2011		DECEMBER 31, 2010
Equities	23.0	%	44.0	%
Cash and cash equivalents	77.0		56.0
Total	100.0	%	100.0	%

This table shows the fair value of the derivatives held by our pension trusts — which fund our qualified and registered plans — at the end of the last two years.



DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2011		DECEMBER 31, 2010
Equity index instruments	$	1	$	17
Forward contracts	2		(4		)
Swaps	220		315
Total	$	223	$	328

This table shows the aggregate notional amount of the derivatives held by our pension trusts — which fund our qualified and registered plans — at the end of the last two years.



DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2011		DECEMBER 31, 2010
Equity index instruments	$	390	$	393
Forward contracts	208		221
Swaps	1,291		1,220
Total	$	1,889	$	1,834

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

A reconciliation of the beginning and ending balances of the pension plan assets measured at fair value using significant unobservable inputs (Level 3) is presented below:



DOLLAR AMOUNTS IN MILLIONS
	INVESTMENTS
	Hedge funds			Private equity and related funds			Real estate and related funds			Total
Balance as of December 31, 2009	$	2,320		$	1,473		$	122		$	3,915
Net realized gains	161			146			10			317
Net change in unrealized appreciation (depreciation)	317			120			(1		)	436
Net purchases, (sales) and (settlements)	(514		)	(164		)	(11		)	(689		)
Balance as of December 31, 2010	2,284			1,575			120			3,979
Net realized gains (losses)	95			(6		)	—			89
Net change in unrealized appreciation (depreciation)	(180		)	122			(21		)	(79		)
Net purchases, (sales) and (settlements)	237			(42		)	(3		)	192
Balance as of December 31, 2011	$	2,436		$	1,649		$	96		$	4,181

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

Estimated Amortization from Cumulative Other Comprehensive Income in 2012

Amortization of the net actuarial loss and prior service cost (credit) of our pension and postretirement benefit plans will affect our other comprehensive income in 2012. The net effect of the estimated amortization will be an increase in net periodic benefit costs or a decrease in net periodic benefit credits in 2012.



DOLLAR AMOUNTS IN MILLIONS
	PENSION		POSTRETIREMENT			TOTAL
Net actuarial loss	$	170	$	15		$	185
Prior service cost (credit)	8		(126		)	(118		)
Net effect cost (credit)	$	178	$	(111	)	$	67

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

Effect of a 1 Percent Change in Health Care Costs



AS OF DECEMBER 31, 2011 (DOLLAR AMOUNTS IN MILLIONS)
	1% INCREASE		1% DECREASE
Effect on total service and interest cost components	$	1	$	(1	)
Effect on accumulated postretirement benefit obligation	$	12	$	(11	)