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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net sales $ 1,872 $ 1,709 $ 5,373 $ 4,769
Costs of products sold 1,374 1,328 3,982 3,702
Gross margin 498 381 1,391 1,067
Selling expenses 22 22 66 67
General and administrative expenses 75 80 238 253
Research and development expenses 4 5 12 14
Charges for integration and restructuring, closures and asset impairments (Note 15) 14 16 178 141
Charges for product remediation (Note 16) 190 0 240 0
Other operating costs (income), net (Note 17) (12) (3) 2 (56)
Operating income 205 261 655 648
Equity earnings from joint ventures (Note 7) 1 9 1 21
Non-operating pension and other postretirement benefit (costs) credits (16) 13 (46) 37
Interest income and other 11 15 29 34
Interest expense, net of capitalized interest (98) (114) (297) (323)
Earnings from continuing operations before income taxes 103 184 342 417
Income taxes (Note 18) 27 (22) (31) (64)
Earnings from continuing operations 130 162 311 353
Earnings from discontinued operations, net of income taxes (Note 3) 0 65 0 123
Net earnings 130 227 311 476
Dividends on preference shares (Note 5) 0 0 0 (22)
Net earnings attributable to Weyerhaeuser common shareholders $ 130 $ 227 $ 311 $ 454
Earnings per share attributable to Weyerhaeuser common shareholders, basic (Note 5):        
Income (Loss) from Continuing Operations, Per Basic Share $ 0.17 $ 0.22 $ 0.41 $ 0.47
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share 0.00 0.08 0.00 0.17
Earnings Per Share, Basic 0.17 0.30 0.41 0.64
Earnings per share attributable to Weyerhaeuser common shareholders, diluted (Note 5)        
Income (Loss) from Continuing Operations, Per Diluted Share 0.17 0.21 0.41 0.46
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share 0.00 0.09 0.00 0.18
Earnings Per Share, Diluted 0.17 0.30 0.41 0.64
Dividends paid per share $ 0.31 $ 0.31 $ 0.93 $ 0.93
Weighted average shares outstanding (in thousands) (Note 5):        
Basic 753,535 749,587 752,301 708,395
Diluted 756,903 754,044 756,058 712,205