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BUSINESS SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2021
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 2021

 

 

MARCH 2020

 

Sales to unaffiliated customers:

 

 

 

 

 

 

 

 

Timberlands

 

$

379

 

 

$

381

 

Real Estate & ENR

 

 

106

 

 

 

112

 

Wood Products

 

 

2,021

 

 

 

1,235

 

 

 

 

2,506

 

 

 

1,728

 

Intersegment sales:

 

 

 

 

 

 

 

 

Timberlands

 

 

134

 

 

 

122

 

 

 

 

 

 

 

 

 

 

Total sales

 

 

2,640

 

 

 

1,850

 

Intersegment eliminations

 

 

(134

)

 

 

(122

)

Total

 

$

2,506

 

 

$

1,728

 

Net contribution (charge) to earnings:

 

 

 

 

 

 

 

 

Timberlands

 

$

108

 

 

$

105

 

Real Estate & ENR

 

 

66

 

 

 

36

 

Wood Products

 

 

840

 

 

 

134

 

 

 

 

1,014

 

 

 

275

 

Unallocated items(1)

 

 

(65

)

 

 

(43

)

Net contribution to earnings

 

 

949

 

 

 

232

 

Interest expense, net of capitalized interest

 

 

(79

)

 

 

(85

)

Earnings before income taxes

 

 

870

 

 

 

147

 

Income taxes

 

 

(189

)

 

 

3

 

Net earnings

 

$

681

 

 

$

150

 

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