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DISCONTINUED OPERATIONS
 9 Months Ended
Sep. 30, 2012
DISCONTINUED OPERATIONS [Line Items]  
DISCONTINUED OPERATIONS
DISCONTINUED OPERATIONS

There are no operations classified as discontinued for the quarter and year-to-date periods ended September 30, 2012. Discontinued operations for the quarter and year-to-date periods ended September 30, 2011 include our hardwoods and Westwood Shipping Lines operations, both of which were sold in third quarter 2011. The following table summarizes the components of net sales and net earnings from discontinued operations.
 
QUARTER ENDED
 
YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS    
SEPTEMBER 2011
 
SEPTEMBER 2011
Net sales:
 
 
 
Hardwoods
$
27

 
$
222

Westwood Shipping Lines
56

 
180

Total net sales from discontinued operations
$
83

 
$
402

Loss from operations:
 
 
 
Hardwoods
$
(4
)
 
$
(3
)
Westwood Shipping Lines
(4
)
 
—

Other discontinued operations
—

 
(13
)
Total loss from discontinued operations
(8
)
 
(16
)
Income taxes
3

 
5

Net loss from operations
(5
)
 
(11
)
Net gain (loss) on sale (after-tax):
 
 
 
Hardwoods
(8
)
 
(14
)
Westwood Shipping Lines
31

 
31

Sale of property
6

 
6

Net earnings from discontinued operations
$
24

 
$
12



Results of discontinued operations exclude certain general corporate overhead costs that have been allocated to and are included in contribution to earnings for the operating segments.

Other discontinued operations relate to gains or losses recognized in the period for businesses we have divested in prior years and are included in Unallocated Items. During second quarter 2011 we increased our reserve for estimated future environmental remediation costs and recognized an $11 million charge associated with discontinued operations.

SALE OF HARDWOODS

On August 1, 2011, we completed the sale of our hardwoods operations to American Industrial Partners for consideration of $109 million, of which $25 million was a note receivable. During second quarter 2011, we reduced our hardwoods assets to their fair value less selling costs which resulted in the recognition of a $9 million charge. An additional $10 million pension curtailment charge was recognized in third quarter 2011 when the transaction closed. Total pre-tax charges on the sale of $22 million were recorded in our Wood Products segment. We recognized a tax benefit on the sale of $8 million resulting in a year-to-date net loss of $14 million.

SALE OF WESTWOOD SHIPPING LINES

On September 30, 2011, we completed the sale of Westwood Shipping Lines to J-WesCo of Japan for $58 million in cash. We recognized a pre-tax gain of $49 million in Unallocated and recorded tax expense of $18 million, resulting in a net gain of $31 million.