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BUSINESS SEGMENTS
 6 Months Ended
Jun. 30, 2013
BUSINESS SEGMENTS
BUSINESS SEGMENTS
We are principally engaged in growing and harvesting timber; manufacturing, distributing and selling forest products; and developing real estate and building single-family homes. Our principal business segments are:
•
Timberlands – which includes logs; timber; minerals, oil and gas; and international wood products;
•
Wood Products – which includes softwood lumber, engineered lumber, structural panels and building materials distribution;
•
Cellulose Fibers – which includes pulp, liquid packaging board and an equity interest in a newsprint joint venture; and
•
Real Estate – which includes real estate development and single-family home building operations.
An analysis and reconciliation of our business segment information to the respective information in the Consolidated Financial Statements is as follows:
 
QUARTER ENDED
 
YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS
JUNE 2013
 
JUNE 2012
 
JUNE 2013
 
JUNE 2012
Sales to unaffiliated customers:
 
 
 
 
 
 
 
Timberlands
$
333

 
$
262

 
$
626

 
$
512

Wood Products
1,065

 
776

 
2,053

 
1,410

Cellulose Fibers
476

 
459

 
950

 
932

Real Estate
267

 
296

 
463

 
433

 
2,141

 
1,793

 
4,092

 
3,287

Intersegment sales:
 
 
 
 
 
 
 
Timberlands
166

 
146

 
390

 
336

Wood Products
18

 
20

 
36

 
40

 
184

 
166

 
426

 
376

Total sales
2,325


1,959

 
4,518

 
3,663

Intersegment eliminations
(184
)
 
(166
)
 
(426
)
 
(376
)
Total
$
2,141

 
$
1,793

 
$
4,092

 
$
3,287

Net contribution to earnings:
 
 
 
 
 
 
 
Timberlands
$
114

 
$
77

 
$
218

 
$
147

Wood Products
136

 
36

 
314

 
23

Cellulose Fibers
57

 
36

 
88

 
84

Real Estate
14

 
15

 
14

 
7

 
321

 
164

 
634

 
261

Unallocated Items(1)
—

 
23

 
(46
)
 
39

Net contribution to earnings
321

 
187

 
588

 
300

Interest expense, net of capitalized interest
(81
)
 
(86
)
 
(163
)
 
(173
)
Income before income taxes
240

 
101

 
425

 
127

Income taxes
(42
)
 
(17
)
 
(83
)
 
(2
)
Net earnings
198

 
84

 
342

 
125

Dividends on preference shares
(2
)
 
—

 
(2
)
 
—

Net earnings attributable to Weyerhaeuser common shareholders
$
196

 
$
84

 
$
340

 
$
125


(1)
Unallocated Items are gains or charges not related to or allocated to an individual operating segment. They include a portion of items such as: share-based compensation, pension and postretirement costs, foreign exchange transaction gains and losses associated with financing and the elimination of intersegment profit in inventory and the LIFO reserve.