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BUSINESS SEGMENTS
 9 Months Ended
Sep. 30, 2015
BUSINESS SEGMENTS
BUSINESS SEGMENTS
We are principally engaged in growing and harvesting timber and manufacturing, distributing and selling products made from trees. 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 wood products, 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 divested Weyerhaeuser Real Estate Company (WRECO) in July 2014 and that entity is excluded from the segment results below. See Note 3: 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 2015
 
SEPTEMBER 2014
 
SEPTEMBER 2015
 
SEPTEMBER 2014
Sales to unaffiliated customers:
 
 
 
 
 
 
 
Timberlands
$
326

 
$
364

 
$
1,013

 
$
1,138

Wood Products
1,023

 
1,048

 
2,950

 
3,023

Cellulose Fibers
471

 
503

 
1,385

 
1,454

 
1,820

 
1,915

 
5,348

 
5,615

Intersegment sales:
 
 
 
 
 
 
 
Timberlands
210

 
218

 
625

 
642

Wood Products
20

 
20

 
61

 
60

 
230

 
238

 
686

 
702

Total sales
2,050


2,153

 
6,034

 
6,317

Intersegment eliminations
(230
)
 
(238
)
 
(686
)
 
(702
)
Total
$
1,820

 
$
1,915

 
$
5,348

 
$
5,615

Net contribution to earnings:
 
 
 
 
 
 
 
Timberlands
$
126

 
$
136

 
$
415

 
$
470

Wood Products
85

 
105

 
218

 
271

Cellulose Fibers
79

 
59

 
139

 
204

 
290

 
300

 
772

 
945

Unallocated Items(1)
(27
)
 
25

 
(61
)
 
108

Net contribution to earnings from discontinued operations
—

 
972

 
—

 
1,017

Net contribution to earnings
263


1,297

 
711

 
2,070

Interest expense, net of capitalized interest (continuing and discontinued operations)
(88
)
 
(89
)
 
(259
)
 
(257
)
Income before income taxes (continuing and discontinued operations)
175

 
1,208

 
452

 
1,813

Income taxes (continuing and discontinued operations)
16

 
(44
)
 
(16
)
 
(164
)
Net earnings
191

 
1,164

 
436

 
1,649

Dividends on preference shares
(11
)
 
(11
)
 
(33
)
 
(33
)
Net earnings attributable to Weyerhaeuser common shareholders
$
180

 
$
1,153

 
$
403

 
$
1,616


(1)
Unallocated Items are charges or gains 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 financing and the elimination of intersegment profit in inventory and the LIFO reserve.