EX-12.(C) 17 v89321orexv12wxcy.txt EXHIBIT 12.(C) Weyerhaeuser Company and Subsidiaries EXHIBIT 12(c) - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES WEYERHAEUSER COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE AND PREFERENCE SHARE DIVIDENDS (Dollar amounts in thousands)
2002 2001 2000 1999 1998 ---------- ---------- ---------- ---------- -------- Available earnings: Earnings before interest expense, amortization of debt expense, income taxes and cumulative effect of a change in an accounting principle 1,195,485 1,006,969 1,677,577 1,276,905 756,715 Add interest portion of rental expense 54,218 45,655 42,063 27,515 23,698 ---------- ---------- ---------- ---------- -------- Available earnings before cumulative effect of a change in an accounting principle 1,249,703 1,052,624 1,719,640 1,304,420 780,413 ========== ========== ========== ========== ======== Fixed charges and preferred and preference share dividends: Interest expense incurred: Weyerhaeuser Company and subsidiaries excluding Weyerhaeuser Real Estate Company and other related subsidiaries 797,071 353,365 352,341 274,599 260,014 Weyerhaeuser Real Estate Company and other related subsidiaries 52,926 68,887 83,556 74,436 81,857 ---------- ---------- ---------- ---------- -------- Subtotal 849,997 422,252 435,897 349,035 341,871 Less intercompany interest (800) (924) (568) (2,230) (13,753) ---------- ---------- ---------- ---------- -------- Total interest expense incurred 849,197 421,328 435,329 346,805 328,118 ---------- ---------- ---------- ---------- -------- Amortization of debt expense 24,124 4,642 3,331 3,957 3,595 ---------- ---------- ---------- ---------- -------- Rental expense: Weyerhaeuser Company and subsidiaries excluding Weyerhaeuser Real Estate Company and other related subsidiaries 152,243 128,082 117,307 74,918 65,508 Weyerhaeuser Real Estate Company and other related subsidiaries 10,410 8,883 8,882 7,627 5,586 ---------- ---------- ---------- ---------- -------- 162,653 136,965 126,189 82,545 71,094 ---------- ---------- ---------- ---------- -------- Interest portion of rental expense 54,218 45,655 42,063 27,515 23,698 ---------- ---------- ---------- ---------- -------- Preferred and preference share dividends -- -- -- -- -- ---------- ---------- ---------- ---------- -------- Total fixed charges and preferred and preference share dividends 927,539 471,625 480,723 378,277 355,411 ========== ========== ========== ========== ======== Ratio of earnings to fixed charges and preferred and preference share dividends 1.35 x 2.23 x 3.58 x 3.45 x 2.20 x