0000106535-95-000023.txt : 19950817
0000106535-95-000023.hdr.sgml : 19950817
ACCESSION NUMBER: 0000106535-95-000023
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 19950816
ITEM INFORMATION: Other events
FILED AS OF DATE: 19950816
SROS: CSX
SROS: NYSE
SROS: PSE
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: WEYERHAEUSER CO
CENTRAL INDEX KEY: 0000106535
STANDARD INDUSTRIAL CLASSIFICATION: LUMBER & WOOD PRODUCTS (NO FURNITURE) [2400]
IRS NUMBER: 910470860
STATE OF INCORPORATION: WA
FISCAL YEAR END: 1228
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-04825
FILM NUMBER: 95564502
BUSINESS ADDRESS:
STREET 1: CORPORATE CONTROLLERS DEPARTMENT
STREET 2: CH 2C26
CITY: TACOMA
STATE: WA
ZIP: 98477
BUSINESS PHONE: 2069242345
MAIL ADDRESS:
STREET 1: CORPORATE CONTROLLERS DEPARTMENT
STREET 2: CH 2C26
CITY: TACOMA
STATE: WA
ZIP: 98477
8-K
1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
August 16, 1995
------------------------------------------------
(Date of earliest event report)
WEYERHAEUSER COMPANY
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(Exact name of registrant as specified in charter)
Washington 1-4825 91-0470860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation or Number)
organization)
Tacoma, Washington 98477
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(Address of principal executive offices)
(zip code)
Registrant's telephone number, including area code:
(206) 924-2345
1
Item 5. Other Events
On August 16, 1995, the Company announced that it plans to take a
charge to earnings, subject to audit, that will reduce 1995 third
quarter after-tax earnings by an estimated $184 million, or 90
cents per share. The charge is $290 million on a pre-tax basis.
This charge is caused by the revaluation of certain real estate
assets as a result of: a) the Company's implementation of
Statement of Financial Accounting Standards (SFAS) No. 121,
"Accounting for the Impairment of Long-Lived Assets and for
Long-Lived Assets to Be Disposed Of" and b) the Company's
decision to accelerate the disposition of some of those real
estate assets.
Following the issuance of SFAS No. 121 in March of this
year, the Company reviewed all assets that are subject to this
new accounting standard. The Company has concluded that some
real estate assets of two Company subsidiaries, Weyerhaeuser Real
Estate Company and Weyerhaeuser Financial Services, Inc., are
affected by the new accounting standard. No other assets of the
Company are presently affected by the new standard.
As a result of the review to assess the impact of this new
accounting standard and other business reviews, the
Company decided to accelerate the disposition of selected real
estate assets held by Weyerhaeuser Real Estate Company and
Weyerhaeuser Financial Services, Inc. The charge reflects both
the implementation of the new accounting standard and the
decision to accelerate the disposition of selected real estate
assets.
Weyerhaeuser Real Estate Company holds about $1.6 billion of
real estate assets and Weyerhaeuser Financial Services, Inc.
holds about $.4 billion of real estate assets, for a total of
$2 billion. The pre-tax charge of $290 million applies to about
$600 million of those assets. With respect to Weyerhaeuser Real
Estate Company, the amount of the charge on a pre-tax basis is an
estimated $232 million and with respect to Weyerhaeuser
Financial Services, Inc., the amount of the charge on a pre-tax
basis is an estimated $58 million.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
WEYERHAEUSER COMPANY
By /s/ Sandy D. McDade
-----------------------
Its: Secretary
Date: August 16, 1995
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