BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2020

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
DOLLAR AMOUNTS IN MILLIONS	MARCH 2020			MARCH 2019
Sales to unaffiliated customers:
Timberlands	$	381		$	431
Real Estate & ENR		112			118
Wood Products		1,235			1,094
		1,728			1,643
Intersegment sales:
Timberlands		122			125
Total sales		1,850			1,768
Intersegment eliminations		(122	)		(125	)
Total	$	1,728		$	1,643
Net contribution (charge) to earnings:
Timberlands	$	105		$	120
Real Estate & ENR		36			55
Wood Products		134			69
		275			244
Unallocated items(1)		(43	)		(530	)
Net contribution (charge) to earnings		232			(286	)
Interest expense, net of capitalized interest		(85	)		(107	)
Earnings (loss) before income taxes		147			(393	)
Income taxes		3			104
Net earnings (loss)	$	150		$	(289	)

(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 postretirement costs, elimination of intersegment profit in inventory and LIFO, foreign exchange transaction gains and losses, interest income and other as well as legacy obligations.