BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2022

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 2022			MARCH 2021
Sales to unaffiliated customers:
Timberlands	$	465		$	379
Real Estate & ENR		128			106
Wood Products		2,519			2,021
		3,112			2,506
Intersegment sales:
Timberlands		161			134
Total sales		3,273			2,640
Intersegment eliminations		(161	)		(134	)
Total	$	3,112		$	2,506
Net contribution (charge) to earnings:
Timberlands	$	182		$	108
Real Estate & ENR		81			66
Wood Products		1,182			840
		1,445			1,014
Unallocated items(1)		(117	)		(65	)
Net contribution to earnings		1,328			949
Interest expense, net of capitalized interest		(72	)		(79	)
Loss on debt extinguishment		(276	)		—
Earnings before income taxes		980			870
Income taxes		(209	)		(189	)
Net earnings	$	771		$	681

(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.