BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 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	SEPTEMBER 2020			SEPTEMBER 2019			SEPTEMBER 2020			SEPTEMBER 2019
Sales to unaffiliated customers:
Timberlands	$	345		$	398		$	1,085		$	1,230
Real Estate & ENR		69			69			246			268
Wood Products		1,696			1,204			4,138			3,508
		2,110			1,671			5,469			5,006
Intersegment sales:
Timberlands		107			125			350			381
Total sales		2,217			1,796			5,819			5,387
Intersegment eliminations		(107	)		(125	)		(350	)		(381	)
Total	$	2,110		$	1,671		$	5,469		$	5,006
Net contribution (charge) to earnings:
Timberlands	$	(11	)	$	72		$	169		$	294
Real Estate & ENR		17			32			72			122
Wood Products		566			143			859			293
		572			247			1,100			709
Unallocated items(1)		(69	)		(54	)		(130	)		(620	)
Net contribution to earnings		503			193			970			89
Interest expense, net of capitalized interest		(111	)		(91	)		(299	)		(289	)
Earnings (loss) before income taxes		392			102			671			(200	)
Income taxes		(109	)		(3	)		(166	)		138
Net earnings (loss)	$	283		$	99		$	505		$	(62	)

(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.