EX-12 9 wy-123117xex12.htm EXHIBIT 12 Exhibit
EXHIBIT 12


WEYERHAEUSER COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS
 
DOLLAR AMOUNTS IN MILLIONS
 
 
 
 
 
 
2017

2016

2015

2014

2013

Earnings
 
 
 
 
 
Consolidated pretax income from continuing operations, before equity earnings
$
716

$
504

$
353

$
687

$
108

Add: fixed charges
419

489

410

421

386

Add: distributed income from equity investments
1

38


5

(3
)
Less: capitalized interest
9

8

7

13

17

Less: preference dividends(2)

27

44

54

23

Total earnings
$
1,127

$
996

$
712

$
1,046

$
451

Fixed charges:
 
 
 
 
 
Interest and other financial charges(1)
$
402

$
444

$
353

$
357

$
350

Add: interest portion of rental expense
17

18

13

10

13

Add: preference dividends(2)

27

44

54

23

Total fixed charges
$
419

$
489

$
410

$
421

$
386

Ratio of earnings to fixed charges
2.69

2.04

1.74

2.48

1.17

Ratio of earnings to fixed charges (excluding preference dividends)
2.69

2.16

1.95

2.85

1.24

(1) Interest expensed and capitalized, as well as amortized premiums, discounts and capitalized expenses related to indebtedness.
(2) The preference security dividend has been calculated without adjustment for income taxes as a result of the negative effective tax rate in 2013. Additionally, all preference shares were converted to common shares during 2016.