XML 42 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENT OF OPERATIONS (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Net sales $ 1,964 $ 1,874 $ 3,700 $ 3,629
Cost of products sold 1,499 1,453 2,860 2,825
Gross margin 465 421 840 804
Selling expenses 27 31 55 64
General and administrative expenses 88 96 176 201
Research and development expenses 7 8 14 15
Charges for restructuring, closures and impairments (Note 13) 8 3 27 6
Other operating income, net (Note 14) (65) (10) (140) (28)
Operating income 400 293 708 546
Interest income and other 11 8 20 18
Interest expense, net of capitalized interest (83) (80) (166) (162)
Earnings before income taxes 328 221 562 402
Income taxes (Note 15) (59) (36) (109) (75)
Earnings from continuing operations 269 185 453 327
Earnings from discontinued operations, net of income taxes (Note 2) 22 13 32 15
Net earnings 291 198 485 342
Dividends on preference shares (11) (2) (22) (2)
Net earnings attributable to Weyerhaeuser common shareholders $ 280 $ 196 $ 463 $ 340
Earnings per share attributable to Weyerhaeuser common shareholders, basic (Note 5):        
Continuing operations $ 0.44 $ 0.33 $ 0.73 $ 0.59
Discontinued operations $ 0.04 $ 0.02 $ 0.06 $ 0.03
Net earnings per share $ 0.48 $ 0.35 $ 0.79 $ 0.62
Earnings per share attributable to Weyerhaeuser common shareholders, diluted (Note 5):        
Continuing operations $ 0.43 $ 0.33 $ 0.73 $ 0.58
Discontinued operations $ 0.04 $ 0.02 $ 0.06 $ 0.03
Net earnings per share $ 0.47 $ 0.35 $ 0.79 $ 0.61
Weighted average shares outstanding (in thousands) (Note 5):        
Basic 586,061 552,855 585,491 549,159
Diluted 589,766 557,588 589,542 554,301