EX-12 17 wy-123116xex12.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
 
 
 
 
 
 
Year Ended

 
 
 
 
 
2016

2015

2014

2013

2012

Available earnings:
 
 
 
 
 
Earnings from continuing operations before interest expense, amortization of debt expense and income taxes
$
940

$
699

$
1,031

$
441

$
408

Add: interest portion of rental expense
18

13

10

13

12

Add (deduct): undistributed losses (earnings) of equity affiliates and noncontrolling interest in income of subsidiaries
38

—

5

(3
)
4

Available earnings
$
996

$
712

$
1,046

$
451

$
424

Fixed charges:
 
 
 
 
 
Interest expense incurred
444

353

357

350

353

Interest portion of rental expense
18

13

10

13

12

Total fixed charges
462

366

367

363

365

Dividends on preference shares(1)
27

44

54

23

—

Total fixed charges and preference dividends
$
489

$
410

$
421

$
386

$
365

Ratio of earnings to fixed charges
2.16

1.95

2.85

1.24

1.16

Ratio of earnings to combined fixed charges and preference dividends
2.04

1.74

2.48

1.17

1.16

(1) The preference security dividend has been calculated without adjustment for income taxes as a result of the negative effective tax rate in 2013.