BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2024

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						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	JUNE 2024			JUNE 2023			JUNE 2024			JUNE 2023
Sales to unaffiliated customers:
Timberlands	$	409		$	417		$	796		$	879
Real Estate & ENR		109			80			216			181
Wood Products		1,421			1,500			2,723			2,818
		1,939			1,997			3,735			3,878
Intersegment sales:
Timberlands		146			150			280			292
Total sales		2,085			2,147			4,015			4,170
Intersegment eliminations		(146	)		(150	)		(280	)		(292	)
Total	$	1,939		$	1,997		$	3,735		$	3,878
Net contribution (charge) to earnings:
Timberlands	$	81		$	104		$	161		$	224
Real Estate & ENR		59			52			119			105
Wood Products		196			218			324			313
		336			374			604			642
Unallocated items(1)		(63	)		(49	)		(130	)		(78	)
Net contribution to earnings		273			325			474			564
Interest expense, net of capitalized interest		(67	)		(70	)		(134	)		(136	)
Earnings before income taxes		206			255			340			428
Income taxes		(33	)		(25	)		(53	)		(47	)
Net earnings	$	173		$	230		$	287		$	381

(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.