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BUSINESS SEGMENTS
 9 Months Ended
Sep. 30, 2014
BUSINESS SEGMENTS
BUSINESS SEGMENTS
We are principally engaged in growing and harvesting timber and manufacturing, distributing and selling forest products. Our principal business segments are:
•
Timberlands – which includes logs, timber, minerals, oil and gas, and international wood products;
•
Wood Products – which includes softwood lumber, engineered lumber, structural panels and building materials distribution; and
•
Cellulose Fibers – which includes pulp, liquid packaging board and an equity interest in a newsprint joint venture.
We have disposed of various businesses and operations that are excluded from the segment results below. See Note 2: Discontinued Operations for information regarding our discontinued operations.
An analysis and reconciliation of our business segment information to the respective information in the Consolidated Financial Statements is as follows:
 
QUARTER ENDED
 
YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS
SEPTEMBER 2014
 
SEPTEMBER 2013
 
SEPTEMBER 2014
 
SEPTEMBER 2013
Sales to unaffiliated customers:
 
 
 
 
 
 
 
Timberlands
$
364

 
$
353

 
$
1,138

 
$
979

Wood Products
1,048

 
1,030

 
3,023

 
3,083

Cellulose Fibers
503

 
474

 
1,454

 
1,424

 
1,915

 
1,857

 
5,615

 
5,486

Intersegment sales:
 
 
 
 
 
 
 
Timberlands
218

 
194

 
642

 
584

Wood Products
20

 
19

 
60

 
55

 
238

 
213

 
702

 
639

Total sales
2,153


2,070

 
6,317

 
6,125

Intersegment eliminations
(238
)
 
(213
)
 
(702
)
 
(639
)
Total
$
1,915

 
$
1,857

 
$
5,615

 
$
5,486

Net contribution to earnings:
 
 
 
 
 
 
 
Timberlands
$
136

 
$
118

 
$
470

 
$
336

Wood Products
105

 
79

 
271

 
393

Cellulose Fibers
59

 
47

 
204

 
135

 
300

 
244

 
945

 
864

Unallocated Items(1)
25

 
20

 
108

 
(36
)
Net contribution to earnings from discontinued operations
972

 
34

 
1,017

 
58

Net contribution to earnings
1,297


298

 
2,070

 
886

Interest expense, net of capitalized interest (continuing and discontinued operations)
(89
)
 
(95
)
 
(257
)
 
(258
)
Income before income taxes (continuing and discontinued operations)
1,208

 
203

 
1,813

 
628

Income taxes (continuing and discontinued operations)
(44
)
 
(36
)
 
(164
)
 
(119
)
Net earnings
1,164

 
167

 
1,649

 
509

Dividends on preference shares
(11
)
 
(10
)
 
(33
)
 
(12
)
Net earnings attributable to Weyerhaeuser common shareholders
$
1,153

 
$
157

 
$
1,616

 
$
497


(1)
Unallocated Items are gains or charges not related to or allocated to an individual operating segment. They include a portion of items such as: share-based compensation, pension and postretirement costs, foreign exchange transaction gains and losses associated with outstanding borrowings and the elimination of intersegment profit in inventory and the LIFO reserve.