EQUITY AFFILIATES

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

EQUITY AFFILIATES

EQUITY AFFILIATES

We have investments in unconsolidated equity affiliates over which we have significant influence that we account for using the equity method with taxes provided on undistributed earnings. We record earnings and accrue taxes in the period that the earnings are recorded by the affiliates.

Details About Our Equity Affiliates

As of December 31, 2014, we hold a 50 percent ownership interest in North Pacific Paper Corporation (NORPAC). NORPAC owns and operates a newsprint manufacturing facility in Longview, Washington.

During 2014, Catchlight Energy was dissolved. We received no proceeds from the dissolution.

During 2013, we sold part of our investment in Liaison Technologies Inc. and recognized an $10 million pretax gain, which is recorded in "Interest income and other" in our Consolidated Statement of Operations. Our remaining investment is accounted for under the cost method.

Unconsolidated Financial Information of Equity Affiliates

Aggregated assets, liabilities and operating results of the entities that we accounted for as equity affiliates are provided below.

Assets and Liabilities of Equity Affiliates

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2014		DECEMBER 31, 2013
Current assets	$	123	$	119
Noncurrent assets	$	413	$	468
Current liabilities	$	30	$	44
Noncurrent liabilities	$	109	$	141

Operating Results of Equity Affiliates

DOLLAR AMOUNTS IN MILLIONS
	2014			2013		2012
Net sales	$	501		$	534	$	553
Operating income (loss)	$	(2	)	$	3	$	3
Net income (loss)	$	—		$	3	$	(7	)

Doing Business with Affiliates

We provide goods and services to NORPAC, including raw materials and support services. The amounts paid to Weyerhaeuser by NORPAC for goods and services were:

• $195 million in 2014,

• $203 million in 2013 and

• $221 million in 2012.

In addition, we manage cash for NORPAC under a services agreement. Weyerhaeuser holds the cash and records a payable balance to NORPAC, which is included in accounts payable in the accompanying Consolidated Balance Sheet. We had the following payable balances to NORPAC:

• $75 million at December 31, 2014; and

• $93 million at December 31, 2013.