BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Reconciliation of Business Segment Information in Consolidated Statement of Operations

A reconciliation of our business segment information to the respective information in the Consolidated Statement of Operations is as follows:

	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2023			SEPTEMBER 2022			SEPTEMBER 2023			SEPTEMBER 2022
Sales to unaffiliated customers:
Timberlands	$	380		$	441		$	1,259		$	1,421
Real Estate & ENR		105			68			286			313
Wood Products		1,537			1,767			4,355			6,627
		2,022			2,276			5,900			8,361
Intersegment sales:
Timberlands		141			133			433			450
Total sales		2,163			2,409			6,333			8,811
Intersegment eliminations		(141	)		(133	)		(433	)		(450	)
Total	$	2,022		$	2,276		$	5,900		$	8,361
Net contribution (charge) to earnings:
Timberlands	$	78		$	107		$	302		$	442
Real Estate & ENR		56			48			161			194
Wood Products		277			344			590			2,389
		411			499			1,053			3,025
Unallocated items(1)		(46	)		(45	)		(124	)		(206	)
Net contribution to earnings		365			454			929			2,819
Interest expense, net of capitalized interest		(72	)		(67	)		(208	)		(204	)
Loss on debt extinguishment		—			—			—			(276	)
Earnings before income taxes		293			387			721			2,339
Income taxes		(54	)		(77	)		(101	)		(470	)
Net earnings	$	239		$	310		$	620		$	1,869

(1)Unallocated items are gains or charges not related to, or allocated to, an individual operating segment. They include all or a portion of items such as share-based compensation, pension and post-employment costs, elimination of intersegment profit in inventory and LIFO, foreign exchange transaction gains and losses, interest income and other.