BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 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	SEPTEMBER 2021			SEPTEMBER 2020			SEPTEMBER 2021			SEPTEMBER 2020
Sales to unaffiliated customers:
Timberlands	$	423		$	345		$	1,207		$	1,085
Real Estate & ENR		69			69			285			246
Wood Products		1,853			1,696			6,503			4,138
		2,345			2,110			7,995			5,469
Intersegment sales:
Timberlands		129			107			399			350
Total sales		2,474			2,217			8,394			5,819
Intersegment eliminations		(129	)		(107	)		(399	)		(350	)
Total	$	2,345		$	2,110		$	7,995		$	5,469
Net contribution (charge) to earnings:
Timberlands	$	133		$	(11	)	$	354		$	169
Real Estate & ENR		45			17			174			72
Wood Products		517			566			2,695			859
		695			572			3,223			1,100
Unallocated items(1)		(50	)		(69	)		(199	)		(130	)
Net contribution to earnings		645			503			3,024			970
Interest expense, net of capitalized interest		(79	)		(111	)		(236	)		(299	)
Earnings before income taxes		566			392			2,788			671
Income taxes		(84	)		(109	)		(597	)		(166	)
Net earnings	$	482		$	283		$	2,191		$	505

(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.