EX-12.(A) 7 v76164orex12-a.txt EXHIBIT 12(A) EXHIBIT 12(a) WEYERHAEUSER COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollar Amounts in Thousands)
TWENTY-SIX WEEKS ENDING ---------------------------- JULY 1, JUNE 25 2001 2000 2000 1999 ----------- ----------- ----------- ----------- Available earnings: Earnings before interest expense, amortization of debt expense, income taxes and cumulative effect of a change in an accounting principle ................ $ 704,576 $ 864,722 $ 1,677,577 $ 1,276,905 Add interest portion of rental expense ................... 22,708 21,130 42,063 27,515 ----------- ----------- ----------- ----------- Available earnings before cumulative effect of a change in an accounting principle ....................... $ 727,284 $ 885,852 $ 1,719,640 $ 1,304,420 =========== =========== =========== =========== Fixed charges: Interest expense incurred: Weyerhaeuser Company and subsidiaries excluding Weyerhaeuser Real Estate Company, Weyerhaeuser Financial Services, Inc. and Gryphon Investments of Nevada, Inc. and their subsidiaries ............................... $ 173,880 $ 171,022 $ 352,341 $ 274,599 Weyerhaeuser Real Estate Company and consolidated subsidiaries ............................ 32,661 30,799 67,733 58,434 Weyerhaeuser Financial Services, Inc. and consolidated subsidiaries ........................ 4,541 8,411 15,823 16,002 Gryphon Investments of Nevada, Inc. .................... 0 0 0 0 ----------- ----------- ----------- ----------- Subtotal ..................................... 211,082 210,232 435,897 349,035 Less intercompany interest ............................. 681 512 568 2,230 ----------- ----------- ----------- ----------- Total interest expense incurred ........................ 210,401 209,720 435,329 346,805 ----------- ----------- ----------- ----------- Amortization of debt expense ........................... 1,748 1,644 3,331 3,957 ----------- ----------- ----------- ----------- Rental expense: Weyerhaeuser Company and consolidated subsidiaries ....................................... 63,691 58,857 117,307 74,918 Weyerhaeuser Real Estate Company and consolidated subsidiaries .......................... 4,433 4,484 8,779 7,473 Weyerhaeuser Financial Services, Inc. and consolidated subsidiaries ...................... 0 49 103 154 Gryphon Investments of Nevada, Inc. .................... 0 0 0 0 ----------- ----------- ----------- ----------- 68,124 63,390 126,189 82,545 ----------- ----------- ----------- ----------- Interest portion of rental expense ................... 22,708 21,130 42,063 27,515 ----------- ----------- ----------- ----------- Fixed Charges ...................................... $ 234,857 $ 232,494 $ 480,723 $ 378,277 =========== =========== =========== =========== Ratio of earnings to fixed charges ....................... 3.10 3.81 3.58 3.45 =========== =========== =========== ===========
1998 1997 1996 ----------- ----------- ----------- Available earnings: Earnings before interest expense, amortization of debt expense, income taxes and cumulative effect of a change in an accounting principle ................ $ 756,715 $ 900,886 $ 1,089,493 Add interest portion of rental expense ................... 23,698 24,321 22,023 ----------- ----------- ----------- Available earnings before cumulative effect of a change in an accounting principle ....................... $ 780,413 $ 925,207 $ 1,111,516 =========== =========== =========== Fixed charges: Interest expense incurred: Weyerhaeuser Company and subsidiaries excluding Weyerhaeuser Real Estate Company, Weyerhaeuser Financial Services, Inc. and Gryphon Investments of Nevada, Inc. and their subsidiaries ............................... $ 260,014 $ 267,644 $ 269,927 Weyerhaeuser Real Estate Company and consolidated subsidiaries ............................ 60,546 69,165 65,402 Weyerhaeuser Financial Services, Inc. and consolidated subsidiaries ........................ 21,311 40,447 66,516 Gryphon Investments of Nevada, Inc. .................... 0 0 0 ----------- ----------- ----------- Subtotal ..................................... 341,871 377,256 401,845 Less intercompany interest ............................. 13,753 407 (1,707) ----------- ----------- ----------- Total interest expense incurred ........................ 328,118 376,849 403,552 ----------- ----------- ----------- Amortization of debt expense ........................... 3,595 3,225 3,237 ----------- ----------- ----------- Rental expense: Weyerhaeuser Company and consolidated subsidiaries ....................................... 65,508 66,008 50,477 Weyerhaeuser Real Estate Company and consolidated subsidiaries .......................... 5,361 3,848 4,020 Weyerhaeuser Financial Services, Inc. and consolidated subsidiaries ...................... 225 3,107 11,573 Gryphon Investments of Nevada, Inc. .................... 0 0 0 ----------- ----------- ----------- 71,094 72,963 66,070 ----------- ----------- ----------- Interest portion of rental expense ................... 23,698 24,321 22,023 ----------- ----------- ----------- Fixed Charges ...................................... $ 355,411 $ 404,395 $ 428,812 =========== =========== =========== Ratio of earnings to fixed charges ....................... 2.20 2.29 2.59 =========== =========== ===========