XML 41 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 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Net sales $ 1,915 $ 1,857 $ 5,615 $ 5,486
Cost of products sold 1,504 1,479 4,364 4,304
Gross margin 411 378 1,251 1,182
Selling expenses 28 32 83 96
General and administrative expenses 73 98 249 299
Research and development expenses 5 8 19 23
Charges for restructuring, closures and impairments (Note 13) 10 1 37 7
Other operating income, net (Note 14) (23) (4) (163) (32)
Operating income 318 243 1,026 789
Interest income and other 7 21 27 39
Interest expense, net of capitalized interest (88) (94) (254) (256)
Earnings before income taxes 237 170 799 572
Income taxes (Note 15) (39) (24) (148) (99)
Earnings from continuing operations 198 146 651 473
Earnings from discontinued operations, net of income taxes (Note 2) 966 21 998 36
Net earnings 1,164 167 1,649 509
Dividends on preference shares (11) (10) (33) (12)
Net earnings attributable to Weyerhaeuser common shareholders $ 1,153 $ 157 $ 1,616 $ 497
Earnings per share attributable to Weyerhaeuser common shareholders, basic (Note 5):        
Continuing operations $ 0.35 $ 0.23 $ 1.09 $ 0.83
Discontinued operations $ 1.82 $ 0.04 $ 1.76 $ 0.06
Net earnings per share $ 2.17 $ 0.27 $ 2.85 $ 0.89
Earnings per share attributable to Weyerhaeuser common shareholders, diluted (Note 5):        
Continuing operations $ 0.35 $ 0.23 $ 1.08 $ 0.82
Discontinued operations $ 1.80 $ 0.04 $ 1.75 $ 0.06
Net earnings per share $ 2.15 $ 0.27 $ 2.83 $ 0.88
Dividends paid per share $ 0.29 $ 0.22 $ 0.73 $ 0.59
Weighted average shares outstanding (in thousands) (Note 5):        
Basic 531,913 582,828 567,436 560,505
Diluted 536,012 587,179 571,503 565,383