BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Reconciliation of Business Segment Information in Consolidated Statement of Operations

A reconciliation of our business segment information to the respective information in the Consolidated Statement of Operations is as follows:

	QUARTER ENDED
DOLLAR AMOUNTS IN MILLIONS	MARCH 2023			MARCH 2022
Sales to unaffiliated customers:
Timberlands	$	462		$	465
Real Estate & ENR		101			128
Wood Products		1,318			2,519
		1,881			3,112
Intersegment sales:
Timberlands		142			161
Total sales		2,023			3,273
Intersegment eliminations		(142	)		(161	)
Total	$	1,881		$	3,112
Net contribution (charge) to earnings:
Timberlands	$	120		$	182
Real Estate & ENR		53			81
Wood Products		95			1,182
		268			1,445
Unallocated items(1)		(29	)		(117	)
Net contribution to earnings		239			1,328
Interest expense, net of capitalized interest		(66	)		(72	)
Loss on debt extinguishment		—			(276	)
Earnings before income taxes		173			980
Income taxes		(22	)		(209	)
Net earnings	$	151		$	771

(1)Unallocated items are gains or charges not related to, or allocated to, an individual operating segment. They include all or a portion of items such as share-based compensation, pension and post-employment costs, elimination of intersegment profit in inventory and LIFO, foreign exchange transaction gains and losses, interest income and other as well as legacy obligations.