MERGER WITH PLUM CREEK

On February 19, 2016, we merged with Plum Creek Timber Company, Inc. (Plum Creek). Plum Creek was a REIT that primarily owned and managed timberlands in the United States. Plum Creek also produced wood products, developed opportunities for mineral and other natural resource extraction, and sold real estate properties.

The acquisition of total assets of $10.0 billion was a noncash investing and financing activity comprised of $6.4 billion in equity consideration transferred and $3.6 billion of liabilities assumed.

Summarized Unaudited Pro Forma Information that Presents Combined Amounts as if this Merger Occurred at the Beginning of 2015



DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER-SHARE FIGURES
	2016		2015
Net sales	$	6,525	$	6,664
Net earnings from continuing operations attributable to Weyerhaeuser common shareholders	$	519	$	487
Net earnings from continuing operations per share attributable to Weyerhaeuser common shareholders, basic	$	0.69	$	0.61
Net earnings from continuing operations per share attributable to Weyerhaeuser common shareholders, diluted	$	0.68	$	0.61

Pro forma net earnings attributable to Weyerhaeuser common shareholders exclude $155 million and $22 million of non-recurring merger-related costs (net of tax) incurred in the years ended December 31, 2016 and December 31, 2015, respectively. Pro forma data may not be indicative of the results that would have been obtained had these events occurred at the beginning of the periods presented, nor is it intended to be a projection of future results.

Initial and Final Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed as of the Merger Date



DOLLAR AMOUNTS IN MILLIONS
	PRELIMINARY ALLOCATION		MEASUREMENT PERIOD ADJUSTMENTS			FINAL ALLOCATION
Current assets	$	128	$	10		$	138
Timber and timberlands	8,124		2			8,126
Minerals and mineral rights	312		6			318
Property and equipment	272		5			277
Equity investment in Timberland Venture	876		(29		)	847
Equity investment in Real Estate Development Ventures	88		(3		)	85
Other assets	163		4			167
Total assets acquired	9,963		(5		)	9,958
Current liabilities	610		—			610
Long-term debt	2,056		—			2,056
Note payable to Timberland Venture	837		1			838
Other liabilities	77		(6		)	71
Total liabilities assumed	3,580		(5		)	3,575
Net assets acquired	$	6,383	$	—		$	6,383

The initial allocation of purchase price was recorded using preliminary estimated fair value of assets acquired and liabilities assumed based upon the best information available to management at the time. The purchase price allocation was finalized as of December 31, 2016. The measurement period adjustments reflect additional information obtained to record the fair value of certain assets acquired and liabilities assumed based on facts and circumstances existing as of the acquisition date. Measurement period adjustments reflected above did not have a material impact to earnings or cash flows for the year ended December 31, 2016.