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BUSINESS SEGMENTS (Tables)
 6 Months Ended
Jun. 30, 2016
Reconciliation of Revenue from Segments to Consolidated
An analysis and reconciliation of our business segment information to the respective information in the Consolidated Statements of Operations is as follows:
 
QUARTER ENDED
 
YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS
JUNE 2016
 
JUNE 2015
 
JUNE 2016
 
JUNE 2015
Sales to unaffiliated customers:
 
 
 
 
 
 
 
Timberlands
$
471

 
$
328

 
$
858

 
$
651

Real Estate & ENR
38

 
13

 
77

 
47

Wood Products
1,146

 
1,004

 
2,125

 
1,927

 
1,655

 
1,345

 
3,060

 
2,625

Intersegment sales:
 
 
 
 
 
 
 
Timberlands
193

 
187

 
415

 
415

Wood Products
22

 
22

 
44

 
41

 
215

 
209

 
459

 
456

Total sales
1,870

 
1,554

 
3,519

 
3,081

Intersegment eliminations
(215
)
 
(209
)
 
(459
)
 
(456
)
Total
$
1,655

 
$
1,345

 
$
3,060

 
$
2,625

Net contribution to earnings:
 
 
 
 
 
 
 
Timberlands
$
125

 
$
117

 
$
254

 
$
256

Real Estate & ENR(1)
12

 
10

 
27

 
33

Wood Products
156

 
71

 
243

 
133

 
293

 
198

 
524

 
422

Unallocated items(2)(3)
(18
)
 
11

 
(82
)
 
(54
)
Net contribution to earnings
275

 
209

 
442

 
368

Interest expense, net of capitalized interest
(114
)
 
(85
)
 
(209
)
 
(167
)
Earnings from continuing operations before income taxes
161

 
124

 
233

 
201

Income taxes
(31
)
 
1

 
(42
)
 
(8
)
Earnings from continuing operations
130

 
125

 
191

 
193

Earnings from discontinued operations, net of income taxes
38

 
19

 
58

 
52

Net earnings
168

 
144

 
249

 
245

Dividends on preference shares
(11
)
 
(11
)
 
(22
)
 
(22
)
Net earnings attributable to Weyerhaeuser common shareholders
$
157

 
$
133

 
$
227

 
$
223



(1)
The Real Estate & ENR segment includes the equity earnings from and investments in and advances to our Real Estate Development Ventures (as defined and described in Note 7: Related Parties), which are accounted for under the equity method.
(2)
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, equity earnings from our Timberland Venture, (as defined and described in Note 7: Related Parties), the elimination of intersegment profit in inventory and the LIFO reserve.
(3)
As a result of reclassifying our former Cellulose Fibers segment as discontinued operations, Unallocated items also includes retained indirect corporate overhead costs previously allocated to the former segment.
Reconciliation of Assets from Segment to Consolidated
A reconciliation of our business segment total assets to total assets in the Consolidated Balance Sheet is as follows:
DOLLAR AMOUNTS IN MILLIONS
JUNE 30,
2016
 
DECEMBER 31,
2015
Total Assets:
 
 
 
Timberlands and Real Estate & ENR(1)
$
15,888

 
$
7,260

Wood Products
1,840

 
1,541

Unallocated items
2,353

 
1,985

Discontinued operations
1,908

 
1,934

Total
$
21,989

 
$
12,720


(1)
Assets attributable to the Real Estate & ENR business segment are combined with total assets for the Timberlands segment because we do not produce separate balance sheets internally.