REVENUE RECOGNITION

3 Months Ended

Mar. 31, 2020

NOTE 3: REVENUE RECOGNITION

A reconciliation of revenue recognized by our major products:

	QUARTER ENDED
DOLLAR AMOUNTS IN MILLIONS	MARCH 2020		MARCH 2019
Net sales to unaffiliated customers:
Timberlands segment
Delivered logs:
West
Domestic sales	$	87	$	101
Export grade sales		90		104
Subtotal West		177		205
South		150		159
North⁽¹⁾		17		29
Subtotal delivered logs sales		344		393
Stumpage and pay-as-cut timber		5		9
Recreational and other lease revenue		15		15
Other⁽²⁾		17		14
Net sales attributable to Timberlands segment		381		431
Real Estate & ENR segment
Real estate		95		96
Energy and natural resources		17		22
Net sales attributable to Real Estate & ENR segment		112		118
Wood Products segment
Structural lumber		508		444
Oriented strand board		190		160
Engineered solid section		127		116
Engineered I-joists		78		70
Softwood plywood		39		44
Medium density fiberboard		44		38
Complementary building products		153		137
Other⁽³⁾		96		85
Net sales attributable to Wood Products segment		1,235		1,094
Total net sales	$	1,728	$	1,643

(1)	In November 2019, we sold our Michigan timberlands.

(2)	Other Timberlands sales include sales of seeds and seedlings from our nursery operations as well as wood chips.

(3)	Other Wood Products sales include wood chips, other byproducts and third-party residual log sales from our Canadian Forestlands operations.