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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net sales $ 1,808 $ 1,655 $ 3,501 $ 3,060
Costs of products sold 1,336 1,271 2,608 2,374
Gross margin 472 384 893 686
Selling expenses 22 22 44 45
General and administrative expenses 76 94 163 173
Research and development expenses 4 4 8 9
Charges for integration and restructuring, closures and asset impairments (Note 15) 151 14 164 125
Other operating costs (income), net (Note 16) 62 2 64 (53)
Operating income 157 248 450 387
Equity earnings from joint ventures (Note 7) 0 7   12
Non-operating pension and other postretirement benefit (costs) credits (8) 10 (30) 24
Interest income and other 9 10 18 19
Interest expense, net of capitalized interest (100) (114) (199) (209)
Earnings from continuing operations before income taxes 58 161 239 233
Income taxes (Note 17) (34) (31) (58) (42)
Earnings from continuing operations 24 130 181 191
Earnings from discontinued operations, net of income taxes (Note 3) 0 38 0 58
Net earnings 24 168 181 249
Dividends on preference shares (Note 5) 0 (11) 0 (22)
Net earnings attributable to Weyerhaeuser common shareholders $ 24 $ 157 $ 181 $ 227
Earnings per share attributable to Weyerhaeuser common shareholders, basic and diluted (Note 5):        
Continuing operations $ 0.03 $ 0.16 $ 0.24 $ 0.25
Discontinued operations 0.00 0.05 0.00 0.08
Net earnings per share 0.03 0.21 0.24 0.33
Dividends paid per share $ 0.31 $ 0.31 $ 0.62 $ 0.62
Weighted average shares outstanding (in thousands) (Note 5):        
Basic 752,630 743,140 751,674 687,572
Diluted 756,451 747,701 755,625 691,060