XML 69 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
BUSINESS SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2017
Sales and Contribution (Charge) to Earnings
Sales and Contribution (Charge) to Earnings
DOLLAR AMOUNTS IN MILLIONS
  
TIMBERLANDS

REAL ESTATE
& ENR(1)

WOOD
PRODUCTS

UNALLOCATED ITEMS(2) AND INTERSEGMENT ELIMINATIONS

CONSOLIDATED

Sales to unaffiliated customers
2017
$
1,942

$
280

$
4,974

$
—

$
7,196

2016
$
1,805

$
226

$
4,334

$
—

$
6,365

2015
$
1,273

$
101

$
3,872

$
—

$
5,246

Intersegment sales
2017
$
762

$
1

$
—

$
(763
)
$
—

2016
$
840

$
1

$
68

$
(909
)
$
—

2015
$
830

$
—

$
82

$
(912
)
$
—

Contribution (charge) to earnings from continuing operations
2017
$
532

$
146

$
569

$
(138
)
$
1,109

2016
$
499

$
55

$
512

$
(131
)
$
935

2015
$
470

$
79

$
258

$
(113
)
$
694

(1) The Real Estate & ENR segment includes the equity earnings from, investments in and advances to our Real Estate Development Ventures (as defined and described in Note 8: 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 8: Related Parties), the elimination of intersegment profit in inventory and the LIFO reserve. 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 Contribution to Earnings to Net Earnings
Reconciliation of Contribution to Earnings to Net Earnings
DOLLAR AMOUNTS IN MILLIONS
  
2017

2016

2015

Net contribution to earnings from continuing operations
$
1,109

$
935

$
694

Net contribution to earnings from discontinued operations
—

957

156

Total contribution to earnings
1,109

1,892

850

Interest expense, net of capitalized interest(1)
(393
)
(436
)
(347
)
Income before income taxes(1)
716

1,456

503

Income taxes(1)
(134
)
(429
)
3

Net earnings
$
582

$
1,027

$
506

(1) Results shown for 2016 and 2015 include amounts for both continuing and discontinued operations. Refer to Note 3: Discontinued Operations and Other Divestitures for further information.
Additional Financial Information
Additional Financial Information
DOLLAR AMOUNTS IN MILLIONS
  
TIMBERLANDS

REAL ESTATE & ENR

WOOD PRODUCTS

UNALLOCATED
ITEMS

CONSOLIDATED

Depreciation, depletion and amortization
2017
$
356

$
15

$
145

$
5

$
521

2016
$
366

$
13

$
129

$
4

$
512

2015
$
208

$
1

$
106

$
10

$
325

Net pension and postretirement cost (credit)(1)
2017
$
7

$
1

$
23

$
66

$
97

2016
$
8

$
—

$
22

$
(43
)
$
(13
)
2015
$
9

$
—

$
27

$
(11
)
$
25

Charges for integration and restructuring, closures and asset impairments(2)
2017
$
147

$
—

$
13

$
34

$
194

2016
$
—

$
15

$
7

$
148

$
170

2015
$
—

$
—

$
10

$
29

$
39

Equity earnings (loss) from joint ventures
2017
$
—

$
1

$
—

$
—

$
1

2016
$
—

$
2

$
—

$
20

$
22

2015
$
—

$
—

$
—

$
—

$
—

Capital expenditures
2017
$
115

$
2

$
299

$
3

$
419

2016
$
116

$
1

$
297

$
11

$
425

2015
$
75

$
—

$
287

$
3

$
365

Investments in and advances to joint ventures
2017
$
—

$
31

$
—

$
—

$
31

2016
$
—

$
56

$
—

$
—

$
56

2015
$
—

$
—

$
—

$
—

$
—

(1) Net pension and postretirement cost (credit) excludes special items, as well as the recognition of curtailments, settlements and special termination benefits due to closures, restructuring or divestitures. See Note 9: Pension and Other Postretirement Benefit Plans for more information.
Total Assets
Total Assets
DOLLAR AMOUNTS IN MILLIONS
 
TIMBERLANDS and
REAL ESTATE & ENR 

WOOD
PRODUCTS

UNALLOCATED
ITEMS

CONSOLIDATED

Total assets(1)(2)
2017
$
14,122

$
2,145

$
1,792

$
18,059

2016
$
15,608

$
1,910

$
1,725

$
19,243

2015
$
7,260

$
1,541

$
3,919

$
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.
(2) Unallocated Items total assets includes assets of discontinued operations.