Segment and Geographical Information Segment and Geographical Information (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment information for each of the three years ended December 31, 2014 follows (in millions of dollars):

	Sales
	2014	2013	2012
Southern Timber	$142	$124	$109
Pacific Northwest Timber	102	110	110
New Zealand Timber	182	148	11
Real Estate (A)	77	149	57
Trading	104	132	94
Intersegment Eliminations	(3)	(3)	(2)
Total	$604	$660	$379

(a) 2013 included a fourth quarter sale of approximately 128,000 acres of New York timberlands for $57 million.

	Operating Income/(Loss)
	2014	2013	2012
Southern Timber	$46	$38	$23
Pacific Northwest Timber	30	33	21
New Zealand Timber	9	10	2
Real Estate	48	56	32
Trading	2	2	—
Corporate and other (a)	(37)	(30)	(46)
Total Operating Income	$98	$109	$32
Unallocated interest expense and other	(53)	(39)	(42)
Total income from continuing operations before income taxes	$45	$70	$(10)

(a) 2013 included a $16 million gain related to the consolidation of the New Zealand JV. See Note 4 — Joint Venture Investment.

	Gross Capital Expenditures
	2014	2013	2012
Capital Expenditures (a)
Southern Timber	$35	$39	$39
Pacific Northwest Timber	10	8	8
New Zealand Timber	18	16	—
Real Estate	—	—	2
Trading	—	—	—
Corporate and other	—	1	1
Total capital expenditures	$63	$64	$50
Strategic Capital Expenditures (timberland acquisitions)
Southern Timber	$126	$20	$101
Pacific Northwest Timber	2	—	—
New Zealand Timber (b)	—	140	—
Real Estate	2	—	5
Trading	—	—	—
Corporate and other	—	—	—
Total strategic capital expenditures	$130	$160	$106
Total Gross Capital Expenditures	$193	$224	$156

(a) Excludes strategic capital expenditures presented separately.

(b) Includes $139.9 million related to the purchase price of the additional 39 percent interest acquired in 2013. See Note 4 — Joint Venture Investmentfor additional information.

	Depreciation, Depletion and Amortization
	2014	2013	2012
Southern Timber	$52	$49	$53
Pacific Northwest Timber	21	21	22
New Zealand Timber (a)	32	28	—
Real Estate	13	18	8
Trading	—	—	—
Corporate and other	2	1	2
Total	$120	$117	$85

(a) 2013 included an increase of approximately $27 million in depletion expense related to the consolidation of the New Zealand JV. See Note 4 — Joint Venture Investment.

	Non-Cash Cost of Land Sold
	2014	2013	2012
Southern Timber	—	—	—
Pacific Northwest Timber	—	—	—
New Zealand Timber (a)	4	—	—
Real Estate	9	10	5
Trading	—	—	—
Corporate and other	—	—	—
Total	$13	$10	$5

	Sales by Product Line
	2014	2013	2012
Southern Timber	$142	$124	$109
Pacific Northwest Timber	102	110	110
New Zealand Timber	182	148	11
Real Estate
Unimproved Development	5	3	2
Improved Development	—	2	—
Rural	41	27	32
Non-Strategic / Timberlands (a)	31	117	23
Total Real Estate	77	149	57
Trading	104	132	94
Intersegment eliminations	(3)	(3)	(2)
Total Sales	$604	$660	$379

(a) 2013 included a fourth quarter sale of approximately 128,000 acres of New York timberlands for $57 million.

	Geographical Operating Information
	Sales			Operating Income			Identifiable Assets
	2014	2013	2012	2014	2013	2012	2014		2013
United States	$318	$380	$274	$87	$81	$30	$	1,884	$	3,077
New Zealand (a)	286	280	105	11	28	2	569		609
Total	$604	$660	$379	$98	$109	$32	$	2,453	$	3,686

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country

	Geographical Operating Information
	Sales			Operating Income			Identifiable Assets
	2014	2013	2012	2014	2013	2012	2014		2013
United States	$318	$380	$274	$87	$81	$30	$	1,884	$	3,077
New Zealand (a)	286	280	105	11	28	2	569		609
Total	$604	$660	$379	$98	$109	$32	$	2,453	$	3,686

(a) 2013 included a $16 million operating income gain from the consolidation of the New Zealand JV. See Note 4 — Joint Venture Investment.