SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

October 21, 2005

(Date of earliest event report)

WEYERHAEUSER COMPANY

(Exact name of registrant as specified in charter)

Washington	1-4825	91-0470860
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

Federal Way, Washington 98063-9777

(Address of principal executive offices)

(zip code)

Registrant’s telephone number, including area code:
(253) 924-2345

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C., 20549

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On October 21, 2005, Weyerhaeuser Company issued a press release stating the following:

Weyerhaeuser Reports Third Quarter Net Earnings of $285 Million, or $1.16 per Diluted Share, on Net Sales of $5.6 Billion

FEDERAL WAY, Wash. — Weyerhaeuser Company (NYSE: WY) today reported third quarter net earnings of $285 million, or $1.16 per diluted share, on net sales of $5.6 billion. This compares with $594 million, or $2.45 per diluted share, on net sales of $5.7 billion for the third quarter of 2004.

Third quarter 2005 earnings include the following after-tax items:

• A gain of $75 million, or 31 cents per diluted share, for the sale of MAS Capital Management Partners, LP, a joint venture.

• A charge of $19 million, or 8 cents per diluted share, for closure of facilities.

• A loss of $14 million, or 6 cents per diluted share, for the early extinguishment of debt.

In addition, net earnings for third quarter 2005 include a one-time tax benefit of $14 million, or 6 cents per diluted share, related to a change in the Ohio state income tax law.

Third quarter 2004 earnings include the following after-tax items:

• A gain of $179 million, or 74 cents per diluted share, from a sale of timberlands in Georgia.

• A gain of $16 million, or 7 cents per diluted share, from a tenure reallocation agreement with the British Columbia government.

• A gain of $13 million, or 5 cents per diluted share, due to the reduction of the reserve for hardboard siding claims.

• A charge of $7 million, or 3 cents per diluted share, related to the sale or closure of facilities.

“Our results in the third quarter reflect the difficult business conditions we face in certain segments,” said Steven R. Rogel, chairman, president and chief executive officer. “Although the recent hurricanes did not significantly affect our operations, we expect to experience residual effects of the storms in terms of higher energy, chemical and transportation costs. This will put additional pressure on our businesses in the fourth quarter.”

Rogel said the company’s strategic review of its business portfolio has resulted in the previously announced indefinite shutdown of the Prince Albert pulp and paper facility in Canada and the closure of two facilities — a specialty pulp mill and a large-log sawmill — in Washington.

“These are the first, but by no means the final steps,” Rogel said. “We will continue to take the actions necessary to make Weyerhaeuser a more competitive company and generate greater returns while returning cash to our shareholders. To that end, we are pleased to have announced today that the board of directors authorized the repurchase of up to 18 million shares, or 7.4 percent of Weyerhaeuser’s outstanding common stock.”

SUMMARY OF THIRD QUARTER FINANCIAL HIGHLIGHTS

Millions (except per share data)	3Q 2005		3Q 2004		Change
Net earnings		$285	$	594		($309	)
Earnings per diluted share	$	1.16	$	2.45		($1.29	)
Net sales	$	5,604	$	5,679		($75	)

SEGMENT RESULTS FOR THIRD QUARTER
(Contributions to Pre-Tax Earnings)

Millions	3Q 2005			3Q 2004		Change
Timberlands	$	191		$	450		($259	)
Wood Products	$	124		$	362		($238	)
Cellulose Fiber and White Papers		($2	)	$	80		($82	)
Containerboard, Packaging and Recycling	$	36		$	82		($46	)
Real Estate and Related Assets	$	145		$	155		($10	)

DISCUSSION AND OUTLOOK BY BUSINESS SEGMENT

TIMBERLANDS

	3Q 2005	2Q 2005		Change
Contribution to earnings (millions)	$191		$210		($19)

Third quarter earnings decreased from the second quarter due to higher fuel prices that affected logging and hauling costs, and a $5 million pre-tax charge related to timber damage caused by Hurricane Katrina. In addition, second quarter results include $6 million earnings from the British Columbia Coastal operations, which were sold in May.

The segment expects fourth quarter earnings to be lower than the third quarter, reflecting decreased Western profits due to normal seasonal slowdowns, and expected lower domestic sales prices. Export log markets are expected to remain firm. In the South, the segment expects log prices to decline from third quarter. Costs are expected to increase due to hurricane salvage operations.

WOOD PRODUCTS

	3Q 2005		2Q 2005		Change
Contribution to earnings (millions)		$124		$204		($80)

Earnings decreased from second quarter due primarily to lower average price realizations for lumber and oriented strand board. Second quarter earnings included $18 million in pre-tax charges related to litigation.

Demand for building products remained strong throughout the quarter. However, readily available supply caused prices to decline during the first two months of the quarter.

Despite temporary price increases in September following the hurricanes, average prices for the entire quarter were lower for Weyerhaeuser lumber and oriented strand board. Lumber realizations declined $31 per thousand board feet and oriented strand board declined $30 per thousand square feet (3/8” basis). Average price realizations for engineered products increased from the second quarter, partially offsetting the effects from lumber and oriented strand board. The hurricanes had a minimal effect on total production for the segment.

The segment incurred $19 million in countervailing and anti-dumping duties and related costs on Canadian softwood lumber the company sold into the United States in the third quarter, compared with $27 million in the second quarter.

The segment expects normal seasonal slowing in the fourth quarter resulting in price decreases in commodity building products and reduced shipment volumes. The segment also expects to incur continued increased costs for energy, resin and transportation. As a result, fourth quarter earnings are expected to follow their normal seasonal decrease. In addition, the segment will be affected by an estimated $25 million pre-tax charge associated with the Big River sawmill in Saskatchewan.

CELLULOSE FIBER AND WHITE PAPERS

	3Q 2005		2Q 2005		Change
Contribution (charge) to earnings (millions)		($2)		$16		($18)

Segment earnings declined from second quarter due to a third quarter pre-tax charge of $22 million primarily related to the closure of the Cosmopolis, Wash., pulp facility.

Papergrade pulp prices declined during the quarter due to continued strong supply coupled with the normal seasonal slowdown in demand. Fluff pulp prices remained relatively stable. Fine paper prices declined due to lower demand in North America for fine paper products. Manufacturing costs were lower due to fewer scheduled third quarter maintenance shutdowns. The negative effects of the strengthening Canadian dollar and increased costs for transportation, energy and raw material partially offset this cost reduction.

The company expects fourth quarter results to decline due to lower fine paper prices, seasonally lower shipments, and higher transportation, chemical and energy costs. In addition, the segment will be affected by an estimated $350 to $375 million pre-tax charge associated with the previously announced indefinite closure of the Prince Albert pulp and paper facility as the company continues the portfolio improvement strategy in this segment.

CONTAINERBOARD, PACKAGING AND RECYCLING

	3Q 2005		2Q 2005		Change
Contribution to earnings (millions)		$36		$99		($63)

Earnings decreased from second quarter levels primarily due to lower prices for containerboard and boxes, and increased transportation and energy costs. The hurricanes had a minimal effect on the segment’s operating results for the third quarter.

The segment expects fourth quarter earnings to decrease to near break-even levels due to a continued decline in box prices resulting from earlier declines in containerboard prices, a seasonal decline in box shipments and higher energy costs, partially offset by lower costs for old corrugated containers. The recently announced containerboard and box price increase will not materially affect earnings in the fourth quarter.

REAL ESTATE AND RELATED ASSETS

	3Q 2005		2Q 2005		Change
Contribution to earnings (millions)	$	145	$	156		($11	)

Single-family home closings declined slightly from second quarter due to delays in providing utility services in Las Vegas, Hurricane Rita in Texas and fewer lot closings. The backlog of homes sold, but not closed, increased and represents slightly more than six months’ sales.

The segment expects fourth quarter earnings to be significantly higher than third quarter due to seasonally stronger single-family closings, which will exceed the fourth quarter of 2004.

OTHER

The company will hold a live conference call at 7 a.m. Pacific (10 a.m. Eastern) on Oct. 21 to discuss the third quarter results.

To access the conference call, listeners calling from within North America should dial 1-888-221-5699 at least 15 minutes prior to the start of the conference call. Those wishing to access the call from outside North America should dial 1-706-643-3795. Replays of the call will be available for one week following completion of the live call and can be accessed at 1-800-642-1687 (access code —1384562) within North America and at 1-706-645-9291 (access code — 1384562) from outside North America.

The call is being webcast and can be accessed through Weyerhaeuser’s Internet site at http://investor.weyerhaeuser.com by clicking on the “Q3 2005 Earnings Conference Call” link.

The webcast also is being distributed through the Thomson StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at http://www.fulldisclosure.com, Thomson/CCBN’s individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson’s password-protected event management site, StreetEvents (http://www.streetevents.com).

Weyerhaeuser Company, one of the world’s largest integrated forest products companies, was incorporated in 1900. In 2004, sales were $22.7 billion. It has offices or operations in 19 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser’s businesses, products and practices is available at http://www.weyerhaeuser.com.

###

This news release contains statements concerning the company’s future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some of these forward-looking statements can be identified by the use of forward-looking terminology such as “expects,” “may,” “will,” “believes,” “should,” “approximately,” anticipates,” “estimates,” and “plans,” and the negative or other variations of those terms or comparable terminology or by discussions of strategy, plans or intentions. In particular, some of these forward-looking statements deal with expectations regarding the company’s markets in the fourth quarter; expected earnings and performance of the company’s business segments during the fourth quarter, demand and pricing for the company’s products in the fourth quarter, raw material, energy and transportation costs, hurricane salvage costs, seasonal slowdowns in timber harvest in the fourth quarter, facility closings and related charges, new home sales, and related matters. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to:

• The effect of general economic conditions, including the level of interest rates and housing starts;

• Market demand for the company’s products, which may be tied to the relative strength of various U.S. business segments;

• Energy prices;

• Raw material prices;

• Performance of the company’s manufacturing operations;

• The successful execution of internal performance plans;

• The level of competition from domestic and foreign producers;

• The effect of forestry, land use, environmental and other governmental regulations;

• The effect of weather;

• The risk of loss from fires, floods and other natural disasters;

• Transportation costs;

• Legal proceedings; and

• Performance of pension fund investments and related derivatives.

The company is also a large exporter and is affected by changes in economic activity in Europe and Asia, particularly Japan, and by changes in currency exchange rates, particularly the relative value of the U.S. dollar to the Euro and the Canadian dollar, and restrictions on international trade or tariffs imposed on imports, including the countervailing and anti-dumping duties imposed on the company’s softwood lumber shipments from Canada to the United States. These and other factors could cause or contribute to actual results differing materially from such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will occur, or if any of them occurs, what effect they will have on the company’s results of operations or financial condition. The company expressly declines any obligation to publicly revise any forward-looking statements that have been made to reflect the occurrence of events after the date of this news release.

WEYERHAEUSER COMPANY
STATISTICAL INFORMATION (unaudited)

CONSOLIDATED EARNINGS	Q1						Q2						Q3						Year-to-date						Q4			Year-to-date
(in millions)	March 27,			March 28,			June 26,			June 27,			Sept. 25,			Sept. 26,			Sept. 25,			Sept. 26,			Dec. 26,			Dec. 26,
	2005			2004			2005			2004			2005			2004			2005			2004			2004			2004
Net sales and revenues:
Weyerhaeuser (1)	$	4,749		$	4,442		$	5,190		$	5,204		$	5,008		$	5,088		$	14,947		$	14,734		$	4,804		$	19,538
Real Estate and Related Assets		655			469			648			524			596			591			1,899			1,584			911			2,495
Total net sales and revenues		5,404			4,911			5,838			5,728			5,604			5,679			16,846			16,318			5,715			22,033
Costs and expenses:
Weyerhaeuser:
Costs of products sold		3,652			3,432			3,974			3,790			3,934			3,758			11,560			10,980			3,735			14,715
Depreciation, depletion and amortization		325			317			326			318			329			316			980			951			320			1,271
Selling expenses		118			120			119			122			119			123			356			365			119			484
General and administrative expenses		223			239			218			233			236			226			677			698			247			945
Research and development expenses		14			12			12			13			18			13			44			38			17			55
Taxes other than payroll and income taxes		46			48			48			47			69			51			163			146			48			194
Charges for integration and restructuring		5			15			4			13			2			8			11			36			3			39
Charges for closure of facilities		5			4			3			—			29			13			37			17			—			17
Other operating costs, net (2) (3)		9			17			(40	)		43			(147	)		(300	)		(178	)		(240	)		36			(204	)
		4,397			4,204			4,664			4,579			4,589			4,208			13,650			12,991			4,525			17,516
Real Estate and Related Assets:
Costs and operating expenses		426			321			441			381			401			414			1,268			1,116			647			1,763
Depreciation and amortization		3			2			4			4			4			3			11			9			5			14
Selling expenses		33			27			36			30			36			31			105			88			37			125
General and administrative expenses		24			17			25			19			27			19			76			55			26			81
Taxes other than payroll and income taxes		1			1			—			—			1			1			2			2			—			2
Other operating costs, net		—			1			(2	)		1			(2	)		(19	)		(4	)		(17	)		—			(17	)
		487			369			504			435			467			449			1,458			1,253			715			1,968
Total costs and expenses		4,884			4,573			5,168			5,014			5,056			4,657			15,108			14,244			5,240			19,484
Operating income		520			338			670			714			548			1,022			1,738			2,074			475			2,549
Interest expense and other:
Weyerhaeuser:
Interest expense incurred (4)		(196	)		(195	)		(179	)		(218	)		(193	)		(184	)		(568	)		(597	)		(241	)		(838	)
Less interest capitalized		—			3			2			1			3			—			5			4			5			9
Equity in income of affiliates		—			—			4			7			2			4			6			11			3			14
Interest income and other		27			3			20			5			28			7			75			15			9			24
Real Estate and Related Assets:
Interest expense incurred		(14	)		(15	)		(14	)		(14	)		(13	)		(14	)		(41	)		(43	)		(14	)		(57	)
Less interest capitalized		14			15			14			14			13			14			41			43			14			57
Equity in income of unconsolidated entities		10			9			13			20			14			12			37			41			11			52
Interest income and other		5			11			(2	)		9			4			1			7			21			10			31
Earnings before income taxes		366			169			528			538			406			862			1,300			1,569			272			1,841
Income taxes (5)		(128	)		(57	)		(229	)		(183	)		(120	)		(293	)		(477	)		(533	)		(94	)		(627	)
Earnings from continuing operations		238			112			299			355			286			569			823			1,036			178			1,214
Earnings from discontinued operations, net of taxes (6)		1			9			121			14			(1	)		25			121			48			21			69
Net earnings	$	239		$	121		$	420		$	369		$	285		$	594		$	944		$	1,084		$	199		$	1,283
Basic net earnings per share:
Continuing operations	$	0.98		$	0.50		$	1.23		$	1.51		$	1.16		$	2.36		$	3.36		$	4.45		$	0.73		$	5.16
Discontinued operations		—			0.04			0.49			0.06			—			0.10			0.50			0.20			0.09			0.29
Net earnings per share	$	0.98		$	0.54		$	1.72		$	1.57		$	1.16		$	2.46		$	3.86		$	4.65		$	0.82		$	5.45
Diluted net earnings per share:
Continuing operations	$	0.98		$	0.50		$	1.22		$	1.51		$	1.16		$	2.35		$	3.36		$	4.42		$	0.73		$	5.14
Discontinued operations		—			0.04			0.49			0.06			—			0.10			0.49			0.20			0.09			0.29
Net earnings per share	$	0.98		$	0.54		$	1.71		$	1.57		$	1.16		$	2.45		$	3.85		$	4.62		$	0.82		$	5.43
Dividends paid per share	$	0.40		$	0.40		$	0.50		$	0.40		$	0.50		$	0.40		$	1.40		$	1.20		$	0.40		$	1.60
Weighted average shares outstanding (in thousands)
Basic		242,863			223,728			244,702			234,494			245,009			241,621			244,191			233,281			242,114			235,453
Diluted		244,185			225,072			245,881			235,475			246,190			242,649			245,354			234,356			243,472			236,546

(1)	The first, second and third quarters of 2005 include charges of $22 million, $27 million and $19 million, respectively, or $68 million year-to-date, for countervailing and anti-dumping duties and related costs. The first, second, third and fourth quarters of 2004 include charges of $26 million, $34 million, $31 million and $27 million, respectively, or $118 million year-to-date, for countervailing and anti-dumping duties and related costs.
(2)	The first, second and third quarters of 2005 include net foreign exchange gains (losses) of $13 million, ($13) million and $37 million, respectively, for a year-to-date net gain $37 million. The first, second, third and fourth quarters of 2004 include net foreign exchange gains (losses) of ($9) million, ($7) million, $16 million and $27 million, respectively, for a total year-to-date net gain of $27 million. These gains and losses result primarily from fluctuations in Canadian and New Zealand exchange rates.
(3)	The first quarter of 2005 includes a $12 million charge for the settlement of a linerboard antitrust lawsuit. The second quarter of 2005 includes an $18 million charge related to alder litigation and $57 million of income related to the recognition of a deferred gain from previous timberlands sales. The third quarter of 2005 includes a $115 million gain on the sale of an investment in a joint venture.
	The first quarter of 2004 includes a $49 million charge for the settlement of lawsuits involving the market for Pacific Northwest alder logs and a $33 million gain on the sale of an oriented strand board mill in Slave Lake, Alberta. The second quarter of 2004 includes a $16 million charge resulting from an adverse judgment in a lawsuit involving the market for Pacific Northwest alder logs. The third quarter of 2004 includes a $271 million gain on the sale of timberlands in Georgia, a $25 million gain from a tenure reallocation agreement with the British Columbia government, and a $20 million gain due to the reduction of the reserve for hardboard siding claims. The fourth quarter of 2004 includes a net gain of $36 million on the sale of facilities, and charges of $29 million for the impairment of assets in the company’s European manufacturing operations, $24 million recognized in connection with a change in the method of estimating workers’ compensation liabilities and $23 million for the net book value of technology donated to a university.
(4)	The third quarter of 2005 includes a charge of $21 million for the early extinguishment of debt. The second and fourth quarters of 2004 include charges of $21 million and $52 million, respectively, for the early extinguishment of debt.
(5)	The second quarter of 2005 includes a charge of $44 million related to the repatriation of $1.1 billion of eligible Canadian earnings under the provisions of the American Jobs Creation Act of 2004. The third quarter of 2005 includes a one-time tax benefit of $14 million related to a change in the Ohio state income tax law.
(6)	Includes the net operating results of the company’s operations in coastal British Columbia. The second quarter of 2005 also includes a gain of $110 million, including a tax benefit of $46 million, related to the sale of these operations. The third quarter of 2005 includes a $1 million charge related to the termination of pension plans associated with these operations.

PRELIMINARY RESULTS — SUBJECT TO AUDIT

WEYERHAEUSER COMPANY
STATISTICAL INFORMATION (unaudited)

Net sales and revenues (in millions):	Q1						Q2						Q3					Year-to-date						Q4			Year-to-date
	March 27,			March 28,			June 26,			June 27,			Sept. 25,		Sept. 26,			Sept. 25,			Sept. 26,			Dec. 26,			Dec. 26,
	2005			2004			2005			2004			2005		2004			2005			2004			2004			2004
Timberlands:
Logs	$	182		$	193		$	195		$	211		$	188	$	197		$	565		$	601		$	221		$	822
Other products		82			58			63			66			65		51			210			175			105			280
		264			251			258			277			253		248			775			776			326			1,102
Wood Products:
Softwood lumber		892			819			1,032			1,106			889		1,089			2,813			3,014			901			3,915
Plywood		183			221			196			263			184		237			563			721			208			929
Veneer		13			11			10			12			9		11			32			34			10			44
Composite panels		120			108			132			133			122		138			374			379			122			501
OSB		288			338			306			456			267		341			861			1,135			255			1,390
Hardwood lumber		94			90			102			100			95		89			291			279			86			365
Engineered I-Joists		160			134			213			178			202		189			575			501			177			678
Engineered Solid Section		190			148			241			194			244		203			675			545			189			734
Logs		27			23			24			38			6		32			57			93			32			125
Other products		272			255			339			312			326		315			937			882			280			1,162
		2,239			2,147			2,595			2,792			2,344		2,644			7,178			7,583			2,260			9,843
Cellulose Fiber and White Papers:
Pulp		376			339			355			371			381		381			1,112			1,091			380			1,471
Paper		599			535			611			538			604		583			1,814			1,656			570			2,226
Coated groundwood		42			36			47			37			45		39			134			112			44			156
Liquid packaging board		47			49			52			53			50		53			149			155			53			208
Other products		14			10			12			13			16		15			42			38			16			54
		1,078			969			1,077			1,012			1,096		1,071			3,251			3,052			1,063			4,115
Containerboard, Packaging and Recycling:
Containerboard		117			81			101			80			86		94			304			255			113			368
Packaging		898			853			969			918			929		916			2,796			2,687			897			3,584
Recycling		92			80			92			91			87		87			271			258			89			347
Bags		22			19			21			18			20		20			63			57			23			80
Other products		34			33			40			34			47		43			121			110			46			156
		1,163			1,066			1,223			1,141			1,169		1,160			3,555			3,367			1,168			4,535
Real Estate and Related Assets		655			469			648			524			596		591			1,899			1,584			911			2,495
Corporate and Other		149			135			151			147			146		135			446			417			158			575
Less sales of discontinued operations		(144	)		(126	)		(114	)		(165	)		—		(170	)		(258	)		(461	)		(171	)		(632	)
	$	5,404		$	4,911		$	5,838		$	5,728		$	5,604	$	5,679		$	16,846		$	16,318		$	5,715		$	22,033

Contribution (charge) to earnings:	Q1						Q2					Q3						Year-to-date					Q4			Year-to-date
(in millions)	March 27,			March 28,			June 26,		June 27,			Sept. 25,			Sept. 26,			Sept. 25,		Sept. 26,			Dec. 26,			Dec. 26,
	2005			2004			2005		2004			2005			2004			2005		2004			2004			2004
Timberlands (1) (2)	$	200		$	159		$	210	$	201		$	191		$	450		$	601	$	810		$	217		$	1,027
Wood Products (3) (4) (5) (6)		131			173			204		448			124			362			459		983			72			1,055
Cellulose Fiber and White Papers (7)		19			(25	)		16		14			(2	)		80			33		69			35			104
Containerboard, Packaging and Recycling (8) (9)		48			24			99		62			36			82			183		168			81			249
Real Estate and Related Assets (10)		183			120			156		118			145			155			484		393			217			610
Corporate and Other (11) (12) (13)		(17	)		(76	)		99		(67	)		101			(45	)		183		(188	)		(83	)		(271	)
	$	564		$	375		$	784	$	776		$	595		$	1,084		$	1,943	$	2,235		$	539		$	2,774

(1)	The 2004 third quarter includes a $271 million gain on the sale of timberlands in Georgia and a $5 million gain from a tenure reallocation agreement with the British Columbia government.
(2)	The first quarter of 2005 includes $3 million of charges for the closure of facilities. The third quarter of 2005 includes a $5 million loss related to hurricane damage.
(3)	The first, second and third quarters of 2005 include charges of $22 million, $27 million and $19 million, respectively, or $68 million year-to-date, for countervailing and anti-dumping duties and related costs. The first, second, third and fourth quarters of 2004 include charges of $26 million, $34 million, $31 million and $27 million, respectively, or $118 million year-to-date, for countervailing and anti-dumping duties and related costs.
(4)	The second quarter of 2005 includes an $18 million charge related to alder litigation. The third quarter of 2005 includes $9 million of income related to the reduction of reserves for alder litigation and an insurance settlement related to product liability claims. The first quarter of 2004 includes a $49 million charge for the settlement of lawsuits involving the market for Pacific Northwest alder logs. The second quarter of 2004 includes a $16 million charge resulting from an adverse judgment in a lawsuit involving the market for Pacific Northwest alder logs. The third quarter of 2004 includes a $20 million gain due to the reduction of the reserve for hardboard siding claims.
(5)	The second quarter of 2005 includes a $6 million gain related to a tenure reallocation agreement with the British Columbia government. The third quarter of 2004 includes a $20 million gain from a tenure reallocation agreement with the British Columbia government.
(6)	The first, second and third quarters of 2005 include charges of $1 million, $1 million and $6 million, respectively, associated with the sale or closure of facilities. The first quarter of 2004 includes a credit of $2 million for the reversal of closure costs accrued in prior years and a $33 million gain on the sale of an oriented strand board mill in Slave Lake, Alberta. The second quarter of 2004 includes a $5 million net loss on the sale of facilities. The third quarter of 2004 includes a $2 million net gain on the sale or closure of facilities. The fourth quarter of 2004 includes charges of $3 million for the closure of facilities and a gain of $36 million on the sale of facilities.
(7)	The third quarter of 2005 includes net charges of $22 million related to facility closures. The second quarter of 2004 includes a $2 million asset impairment charge related to assets held for sale.
(8)	The first quarter of 2005 includes a $12 million charge associated with the settlement of a linerboard antitrust lawsuit. The third quarter of 2005 includes a $1 million loss related to hurricane damage.
(9)	The first, second and third quarters of 2005 include charges of $4 million, $2 million and $1 million, respectively, for the closure of facilities. The first quarter of 2004 includes closure costs of $3 million. The second quarter of 2004 includes a net gain of $1 million on the sales of a facility and a joint venture investment. The third quarter of 2004 includes closure costs of $12 million, including a pension termination charge of $9 million related to a closure that occurred in a previous year. The fourth quarter of 2004 includes a credit of $3 million for the reversal of closure costs accrued in prior years.
(10)	The first, second and third quarters of 2005 include net gains (losses) on land and lot sales of $57 million, $21 million and ($1) million, respectively. The first quarter of 2004 includes a $22 million gain on a land sale. The third quarter of 2004 includes a gain of $18 million on the sale of a multi-family site. The fourth quarter of 2004 includes a $24 million net gain on land and lot sales.
(11)	The second quarter of 2005 includes a $64 million pretax gain on the sale of the company’s operations in coastal British Columbia and $57 million of income related to the recognition of a deferred gain from previous timberlands sales. The third quarter of 2005 includes a $115 million gain on the sale of an investment in a joint venture. The fourth quarter of 2004 includes a $7 million gain for the settlement of an insurance claim relating to the Cemwood litigation.
(12)	The fourth quarter of 2004 includes charges of $29 million for the impairment of assets in the company’s European manufacturing operations, $24 million recognized in connection with a change in the method of estimating workers’ compensation liabilities and $23 million for the net book value of technology donated to a university.
(13)	The first, second and third quarters of 2005 include net foreign exchange gains (losses) of $13 million, ($12) million and $38 million, respectively, for a year-to-date net gain of $39 million. The first, second, third and fourth quarters of 2004 include net foreign exchange gains (losses) of ($10) million, ($6) million, $16 million and $26 million, respectively, for a $26 million net gain year-to-date. These gains and losses result primarily from fluctuations in Canadian and New Zealand exchange rates.

PRELIMINARY RESULTS — SUBJECT TO AUDIT

WEYERHAEUSER COMPANY
STATISTICAL INFORMATION (unaudited)

Third party sales volumes:	Q1				Q2				Q3					Year-to-date			Q4		Year-to-date
	March 27,		March 28,		June 26,		June 27,		Sept. 25,		Sept. 26,		Sept. 25,		Sept. 26,		Dec. 26,		Dec. 26,
	2005		2004		2005		2004		2005		2004		2005		2004		2004		2004
Timberlands (thousands):
Logs — cunits		864		1,044		863		954		886		904		2,613		2,902		1,018		3,920
Wood Products (millions):
Softwood lumber — board feet		2,057		2,054		2,355		2,393		2,179		2,299		6,591		6,746		2,144		8,890
Plywood — square feet (3/8”)		537		642		600		668		558		672		1,695		1,982		647		2,629
Veneer — square feet (3/8”)		60		55		59		60		51		55		170		170		55		225
Composite panels — square feet (3/4”)		299		301		317		324		308		315		924		940		294		1,234
Oriented strand board — square feet (3/8”)		908		981		1,041		1,143		1,008		1,078		2,957		3,202		1,011		4,213
Hardwood lumber — board feet		102		103		114		117		105		102		321		322		95		417
Engineered I-Joists — LF		108		108		138		132		125		133		371		373		123		496
Engineered Solid Section — CF		9		8		10		10		10		10		29		28		9		37
Logs — cunits (in thousands)		187		170		177		279		41		237		405		686		248		934
Cellulose Fiber and White Papers (thousands):
Pulp — air-dry metric tons		629		624		587		642		653		633		1,869		1,899		659		2,558
Paper — tons		736		741		742		718		757		737		2,235		2,196		680		2,876
Coated groundwood — tons		58		59		62		61		56		60		176		180		63		243
Liquid packaging board — tons		60		66		65		72		64		69		189		207		69		276
Paper converting — tons		475		467		494		459		494		470		1,463		1,396		443		1,839
Containerboard, Packaging and Recycling (thousands):
Containerboard — tons		295		250		259		221		238		245		792		716		285		1,001
Packaging — MSF		17,354		18,146		18,600		18,917		18,560		18,287		54,514		55,350		17,535		72,885
Recycling — tons		692		678		695		701		665		645		2,052		2,024		670		2,694
Kraft bags and sacks — tons		23		24		22		23		22		23		67		70		25		95
Real Estate and Related Assets:
Single-family homes sold		1,378		1,506		1,525		1,564		1,608		1,313		4,511		4,383		992		5,375
Single-family homes closed		1,189		1,065		1,279		1,216		1,257		1,345		3,725		3,626		1,638		5,264
Single-family homes sold but not closed at end of period		2,561		2,702		2,807		3,050		3,158		3,018		3,158		3,018		2,372		2,372

Total production volumes:	Q1				Q2				Q3				Year-to-date				Q4		Year-to-date
	March 27,		March 28,		June 26,		June 27,		Sept. 25,		Sept. 26,		Sept. 25,		Sept. 26,		Dec. 26,		Dec. 26,
	2005		2004		2005		2004		2005		2004		2005		2004		2004		2004
Timberlands (thousands):
Fee Depletion — cunits		2,248		2,265		2,231		2,404		2,098		2,189		6,577		6,858		2,155		9,013
Wood Products (millions):
Softwood lumber — board feet		1,821		1,760		1,869		1,881		1,651		1,819		5,341		5,460		1,727		7,187
Plywood — square feet (3/8”)		303		422		302		405		296		405		901		1,232		396		1,628
Veneer — square feet (3/8”) (1)		517		585		529		609		486		592		1,532		1,786		600		2,386
Composite panels — square feet (3/4”)		267		268		282		281		268		272		817		821		245		1,066
Oriented strand board — square feet (3/8”)		1,007		1,031		1,019		1,056		1,017		1,022		3,043		3,109		972		4,081
Hardwood lumber — board feet		92		89		96		96		91		84		279		269		80		349
Engineered I-Joists — LF		133		110		132		124		108		136		373		370		134		504
Engineered Solid Section — CF		11		9		10		11		10		11		31		31		10		42
Cellulose Fiber and White Papers (thousands):
Pulp — air-dry metric tons		621		619		614		636		663		652		1,898		1,907		639		2,546
Paper — tons (2)		763		743		752		736		765		766		2,280		2,245		761		3,006
Coated groundwood — tons		55		55		59		61		60		62		174		178		62		240
Liquid packaging board — tons		60		61		64		67		69		71		193		199		67		266
Paper converting — tons		475		460		487		442		483		471		1,445		1,373		465		1,838
Containerboard, Packaging and Recycling (thousands):
Containerboard — tons (3)		1,503		1,503		1,581		1,598		1,597		1,604		4,681		4,705		1,586		6,291
Packaging — MSF		18,628		19,493		19,915		20,208		19,416		19,473		57,959		59,174		18,648		77,822
Recycling — tons (4)		1,624		1,607		1,673		1,707		1,716		1,703		5,013		5,017		1,701		6,718
Kraft bags and sacks — tons		23		24		22		23		21		23		66		70		24		94

(1)	Veneer production represents lathe production and includes volumes that are further processed into plywood and engineered lumber products by company mills.
(2)	Paper production includes unprocessed rolls and converted paper volumes.
(3)	Containerboard production represents machine production and includes volumes that are further processed into packaging and kraft bags and sacks by company facilities.
(4)	Recycling production includes volumes processed in Weyerhaeuser recycling facilities that are consumed by company facilities and brokered volumes.

PRELIMINARY RESULTS — SUBJECT TO AUDIT

WEYERHAEUSER COMPANY
STATISTICAL INFORMATION

CONDENSED CONSOLIDATED BALANCE SHEET (unaudited)
(in millions)

	March 27,		June 26,		Sept. 25,		Dec. 26,
	2005		2005		2005		2004
Assets
Weyerhaeuser
Current assets:
Cash and short-term investments	$	402	$	1,704	$	885	$	1,044
Receivables, less allowances		1,840		2,008		1,966		1,558
Inventories		2,122		2,018		1,992		1,891
Prepaid expenses		634		612		581		592
Assets of business held for sale		1,119		—		—		1,129
Total current assets		6,117		6,342		5,424		6,214
Property and equipment		11,447		11,175		11,093		11,672
Construction in progress		324		451		544		268
Timber and timberlands at cost, less fee stumpage charged to disposals		3,712		3,709		3,690		3,733
Investments in and advances to equity affiliates		491		495		496		489
Goodwill		2,997		2,977		2,989		2,996
Deferred pension and other assets		1,197		1,249		1,309		1,201
Restricted assets held by special purpose entities	914		916		914		909
		27,199		27,314		26,459		27,482
Real Estate and Related Assets
Cash and short-term investments		5		11		4		153
Receivables, less allowances		60		57		49		43
Real estate and land for sale and development		2,083		2,333		2,288		1,947
Other assets		323		278		357		329
		2,471		2,679		2,698		2,472
Total assets	$	29,670	$	29,993	$	29,157	$	29,954
Liabilities and Shareholders’ Interest
Weyerhaeuser
Current liabilities:
Notes payable and commercial paper	$	2	$	2	$	3	$	3
Current maturities of long-term debt		96		225		182		489
Accounts payable		1,150		1,225		1,167		1,159
Accrued liabilities		1,313		1,655		1,562		1,432
Liabilities of business held for sale		308		—		—		297
Total current liabilities		2,869		3,107		2,914		3,380
Long-term debt		9,263		8,926		8,010		9,277
Deferred income taxes		4,315		4,320		4,396		4,312
Deferred pension, other postretirement benefits and other liabilities		1,494		1,560		1,585		1,500
Liabilities not owned, consolidated under FIN 46R	820		784		783		815
		18,761		18,697		17,688		19,284
Real Estate and Related Assets
Notes payable and commercial paper		2		5		3		2
Long-term debt		869		854		852		867
Other liabilities	533		588		488		546
		1,404		1,447		1,343		1,415
Total liabilities		20,165		20,144		19,031		20,699
Shareholders’ interest		9,505		9,849		10,126		9,255
Total liabilities and shareholders’ interest	$	29,670	$	29,993	$	29,157	$	29,954

STATEMENT OF CASH FLOWS	Q1						Q2						Q3						Year-to-date						Q4			Year-to-date
SELECTED INFORMATION (unaudited)	March 27,			March 28,			June 26,			June 27,			Sept. 25,			Sept. 26,			Sept. 25,			Sept. 26,			Dec. 26,			Dec. 26,
(in millions)	2005			2004			2005			2004			2005			2004			2005			2004			2004			2004
(Weyerhaeuser only, excludes Real Estate & Related Assets)
Net cash from operations	$	(203	)	$	(89	)	$	713		$	787		$	441		$	592		$	951		$	1,290		$	745		$	2,035
Cash paid for property and equipment		(117	)		(79	)		(196	)		(80	)		(220	)		(93	)		(533	)		(252	)		(222	)		(474	)
Cash paid for timberlands reforestation		(12	)		(12	)		(6	)		(6	)		(6	)		(5	)		(24	)		(23	)		(7	)		(30	)
Cash received from issuances of debt		—			—			1			—			—			—			1			—			1			1
Revolving credit facilities, notes and commercial paper borrowings, net		19			67			23			(80	)		(40	)		(6	)		2			(19	)		35			16
Payments on debt		(404	)		(60	)		(206	)		(813	)		(965	)		(253	)		(1,575	)		(1,126	)		(742	)		(1,868	)
Proceeds from equity offering		—			—			—			954			—			—			—			954			—			954
Proceeds from the sale of BC Coastal operations		—			—			1,107			—			—			—			1,107			—			—			—

PRELIMINARY RESULTS — SUBJECT TO AUDIT

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WEYERHAEUSER COMPANY

By /s/ Steven J. Hillyard

Its: Vice President and

Chief Accounting Officer

Date: October 21, 2005