BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 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						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	JUNE 2020			JUNE 2019			JUNE 2020			JUNE 2019
Sales to unaffiliated customers:
Timberlands	$	359		$	401		$	740		$	832
Real Estate & ENR		65			81			177			199
Wood Products		1,207			1,210			2,442			2,304
		1,631			1,692			3,359			3,335
Intersegment sales:
Timberlands		121			131			243			256
Total sales		1,752			1,823			3,602			3,591
Intersegment eliminations		(121	)		(131	)		(243	)		(256	)
Total	$	1,631		$	1,692		$	3,359		$	3,335
Net contribution (charge) to earnings:
Timberlands	$	75		$	102		$	180		$	222
Real Estate & ENR		19			35			55			90
Wood Products		159			81			293			150
		253			218			528			462
Unallocated items(1)		(18	)		(36	)		(61	)		(566	)
Net contribution (charge) to earnings		235			182			467			(104	)
Interest expense, net of capitalized interest		(103	)		(91	)		(188	)		(198	)
Earnings (loss) before income taxes		132			91			279			(302	)
Income taxes		(60	)		37			(57	)		141
Net earnings (loss)	$	72		$	128		$	222		$	(161	)

(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.