BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 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						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	JUNE 2021			JUNE 2020			JUNE 2021			JUNE 2020
Sales to unaffiliated customers:
Timberlands	$	405		$	359		$	784		$	740
Real Estate & ENR		110			65			216			177
Wood Products		2,629			1,207			4,650			2,442
		3,144			1,631			5,650			3,359
Intersegment sales:
Timberlands		136			121			270			243
Total sales		3,280			1,752			5,920			3,602
Intersegment eliminations		(136	)		(121	)		(270	)		(243	)
Total	$	3,144		$	1,631		$	5,650		$	3,359
Net contribution (charge) to earnings:
Timberlands	$	113		$	75		$	221		$	180
Real Estate & ENR		63			19			129			55
Wood Products		1,338			159			2,178			293
		1,514			253			2,528			528
Unallocated items(1)		(84	)		(18	)		(149	)		(61	)
Net contribution to earnings		1,430			235			2,379			467
Interest expense, net of capitalized interest		(78	)		(103	)		(157	)		(188	)
Earnings before income taxes		1,352			132			2,222			279
Income taxes		(324	)		(60	)		(513	)		(57	)
Net earnings	$	1,028		$	72		$	1,709		$	222

(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.