REVENUE RECOGNITION

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

NOTE 3: REVENUE RECOGNITION

A reconciliation of revenue recognized by our major products:

	QUARTER ENDED
DOLLAR AMOUNTS IN MILLIONS	MARCH 2025		MARCH 2024
Net sales to unaffiliated customers:
Timberlands segment
Delivered logs:
West
Domestic sales	$	98	$	94
Export grade sales		71		82
Subtotal West		169		176
South		152		151
North		14		13
Subtotal delivered logs sales		335		340
Stumpage and pay-as-cut timber		10		11
Recreational and other lease revenue		19		19
Other(1)		18		17
Net sales attributable to Timberlands segment		382		387
Real Estate & ENR segment
Real estate		69		83
Energy and natural resources		25		24
Net sales attributable to Real Estate & ENR segment		94		107
Wood Products segment
Structural lumber		527		464
Oriented strand board		228		255
Engineered solid section		161		177
Engineered I-joists		88		99
Softwood plywood		40		41
Medium density fiberboard		32		39
Complementary building products		125		141
Other(2)		86		86
Net sales attributable to Wood Products segment		1,287		1,302
Total net sales	$	1,763	$	1,796

(1)Other Timberlands sales include sales of seeds and seedlings from our nursery operations as well as wood chips.

(2)Other Wood Products sales include wood chips, other byproducts and third-party residual log sales from our Canadian Forestlands operations.