Weyerhaeuser Reports Third Quarter Results

                  Weyerhaeuser Reports Third Quarter Results

- Net earnings rise 34 percent compared with third quarter 2012 on 23 percent
improvement in net sales

- Acquisition of Longview Timber LLC closed on July 23

PR Newswire

FEDERAL WAY, Wash., Oct. 25, 2013

FEDERAL WAY, Wash., Oct. 25, 2013 /PRNewswire/ --Weyerhaeuser Company (NYSE:
WY) today reported net earnings to common shareholders of $157 million, or 27
cents per diluted share, for the third quarter. This compares with net
earnings of $117 million, or 22 cents per diluted share, for the same period
last year. Net sales for the third quarter of 2013 totaled $2.2 billion,
compared with net sales of $1.8 billion for the third quarter of 2012.

(Logo: http://photos.prnewswire.com/prnh/20120111/AQ34535LOGO)

"Solid operating results in the quarter contributed to a significant
improvement in our year-over-year earnings," said Doyle Simons, president and
chief executive officer. "In the quarter, we also closed on our previously
announced acquisition of Longview Timber and are actively engaged in
leveraging our silviculture, logistics and marketing expertise to realize the
full potential of this valuable asset. We will continue to focus on improving
performance in all of our businesses and generating additional value for our
shareholders."

WEYERHAEUSER FINANCIAL HIGHLIGHTS                         2013   2013   2012
(millions, except per share data)                         2Q     3Q     3Q
Net sales                                                 $2,141 $2,181 $1,772
Net earnings attributable to Weyerhaeuser common          $196   $157   $117
shareholders
Weighted average shares outstanding, diluted^(1)          558    587    542
Earnings per diluted share                                $0.35  $0.27  $0.22
Net cash from operations                                  $374   $343   $122
Net change in cash and cash equivalents^(2)               $1,723 ($965) ($253)
Cash and cash equivalents at end of period^(2)            $2,362 $1,397 $608

      Weyerhaeuser's common shares outstanding increased to approximately 578
      million basic shares, or 583 million shares on a diluted basis, during
      the second quarter of 2013 following the issuance of 29 million common
^(1) shares in conjunction with the acquisition of Longview Timber LLC. The
      company also issued 13.8 million mandatory convertible preference
      shares. During the third quarter of 2013, the company issued an
      additional 4.35 million common shares in connection with the exercise of
      an overallotment option.
      During the second and third quarters of 2013, Weyerhaeuser received
      $2,060 million from the issuance of debt and common and mandatory
      convertible preference shares related to the acquisition of Longview
      Timber LLC. These funds are recorded as "Cash and cash equivalents
^(2) designated for purchase of Longview Timber LLC and the repayment of
      their acquired debt" on the Consolidated Balance Sheet. During the third
      quarter of 2013, the company used a portion of these funds to complete
      the acquisition of Longview Timber LLC. Subsequent to the end of the
      third quarter, the company used the remaining funds for repayment of
      Longview Timber indebtedness assumed in the acquisition.

TIMBERLANDS

FINANCIAL HIGHLIGHTS (millions)     2Q 2013 3Q 2013 Change
Net sales to unaffiliated customers $333    $353    $20
Intersegment sales                  166     194     28
Total net sales                     $499    $547    $48
Contribution to earnings            $114    $118    $4

3Q 2013 Performance – Seasonally lower earnings from the company's legacy
Western timberlands were largely offset by a partial quarter of earnings from
the Longview Timber acquisition and improved earnings from Southern
timberlands. Earnings from disposition of non-strategic timberlands also
increased.

In the West, selling prices declined across domestic and export markets, and
road and silviculture expenses increased. Seasonally lower fee harvest from
legacy Western timberlands was more than offset by a partial quarter of
harvest from the Longview Timber acquisition. Southern log realizations were
comparable to the second quarter, and fee harvest volumes rose seasonally.

4Q 2013 Outlook - Weyerhaeuser anticipates comparable earnings from the
Timberlands segment in the fourth quarter. In the West, the company expects
improved domestic log prices and increased fee harvest volumes due to a full
quarter of harvest from the Longview Timber acquisition. In the South,
Weyerhaeuser anticipates seasonally higher silviculture costs, partially
offset by increased fee harvest volumes. The company also expects slightly
lower earnings from disposition of non-strategic timberlands.

WOOD PRODUCTS

FINANCIAL HIGHLIGHTS (millions)     2Q 2013 3Q 2013 Change
Net sales to unaffiliated customers $1,065  $1,030  ($35)
Intersegment sales                  18      19      1
Total net sales                     $1,083  $1,049  ($34)
Contribution to earnings            $136    $79     ($57)

3Q 2013 Performance - Average selling prices for oriented strand board
declined 26 percent compared with the second quarter, and selling prices for
lumber fell 7 percent. These declines were partially offset by improved
average selling prices for engineered wood products, higher sales volumes
across all product lines, and lower Western log costs.

4Q 2013 Outlook - Weyerhaeuser anticipates lower earnings from the Wood
Products segment in the fourth quarter due to seasonally weaker sales volumes
and higher log costs.

CELLULOSE FIBERS

FINANCIAL HIGHLIGHTS (millions) 2Q 2013 3Q 2013 Change
Net sales                       $476    $474    ($2)
Contribution to earnings        $57     $47     ($10)

3Q 2013 Performance - Costs associated with completion of a scheduled annual
maintenance outage for liquid packaging operations were higher than
anticipated. Fiber costs rose due to wet weather in the South, and chemical
costs also increased. These factors more than offset a slight improvement in
average pulp price realizations due to mix.

4Q 2013 Outlook - Weyerhaeuser expects significantly higher earnings from the
Cellulose Fibers segment in the fourth quarter. The company anticipates
modestly higher average pulp sales realizations and volumes, lower chemical
costs, improved productivity for liquid packaging operations, and slightly
lower maintenance expense.

REAL ESTATE

FINANCIAL HIGHLIGHTS (millions) 2Q 2013 3Q 2013 Change
Net sales                       $267    $324    $57
Contribution to earnings        $14     $33     $19

3Q 2013 Performance - Home closings increased seasonally to 768 single-family
homes and average margins on homes closed improved, primarily due to mix.
Third quarter results include earnings of $9 million from land and lot sales,
compared with earnings of $2 million in the second quarter.

At the end of the third quarter the backlog of homes sold, but not closed,
totaled 1,435 units, compared with 1,055 units one year ago.

4Q 2013 Outlook - Weyerhaeuser expects significantly higher earnings from
single-family homebuilding in the fourth quarter. Single-family closing
volumes should increase to over 1,100 homes. The company anticipates higher
average closing prices and higher selling-related expenses due to the
additional closing volumes.

ABOUT WEYERHAEUSER

Weyerhaeuser Company, one of the world's largest private owners of
timberlands, began operations in 1900. We own or control nearly 7 million
acres of timberlands, primarily in the U.S., and manage another 14 million
acres under long-term licenses in Canada. We manage these timberlands on a
sustainable basis in compliance with internationally recognized forestry
standards. We are also one of the largest manufacturers of wood and cellulose
fibers products, and we develop real estate, primarily as a builder of
single-family homes. Our company is a real estate investment trust. In 2012,
we generated $7.1 billion in sales and employed approximately 13,200 people
who serve customers worldwide. We are listed on the Dow Jones World
Sustainability Index. Our common stock trades on the New York Stock Exchange
under the symbol WY.

EARNINGS CALL INFORMATION

Weyerhaeuser will hold a live conference call at 7 a.m. Pacific (10 a.m.
Eastern) on Oct. 25 to discuss third quarter results.

To access the live webcast and presentation online, go to the Investor
Relations section on www.weyerhaeuser.com on Oct. 25.

To join the conference call from within North America, dial 877-296-9413
(access code – 86490025) at least 15 minutes prior to the call. Those calling
from outside North America should dial 706-679-2458 (access code – 86490025).
Replays will be available for two weeks at 855-859-2056 (access code –
86490025) from within North America and at 404-537-3406 (access code –
86490025) from outside North America.

FORWARD LOOKING STATEMENTS

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. These statements are based
on various assumptions and may not be accurate because of risks and
uncertainties surrounding these assumptions. Factors listed below, as well as
other factors, may cause actual results to differ significantly from these
forward-looking statements. There is no guarantee that any of the events
anticipated by these forward-looking statements will occur. If any of the
events occur, there is no guarantee what effect they will have on company
operations or financial condition. The company will not update these
forward-looking statements after the date of this news release.

Some forward-looking statements discuss the company's plans, strategies and
intentions. They use words such as "expects," "may," "will," "believes,"
"should," "approximately," "anticipates," "estimates," and "plans." In
addition, these words may use the positive or negative or other variations of
those terms.

This release contains forward-looking statements regarding the company's
expectations during the fourth quarter of 2013, including with respect to
earnings, domestic and export log prices, fee harvest levels and realizations,
silviculture costs, dispositions of non-strategic timberlands, average selling
prices and sales volumes across the Wood Products product lines, average sales
realizations and volumes for pulp and liquid packaging board, chemical and
maintenance costs, productivity for liquid packaging operations, single-family
closing volumes, average home closing prices and mix, and selling-related
expenses.

Major risks, uncertainties and assumptions that affect the company's
businesses and may cause actual results to differ from these forward-looking
statements, include, but are not limited to:

  othe effect of general economic conditions, including employment rates,
    housing starts, interest rate levels, availability of financing for home
    mortgages, and strength of the U.S. dollar;
  omarket demand for the company's products, which is related to the strength
    of the various U.S. business segments and U.S. and international economic
    conditions;
  operformance of the company's manufacturing operations, including
    maintenance requirements;
  othe level of competition from domestic and foreign producers;
  othe successful execution of internal performance plans, including
    restructurings and cost reduction initiatives;
  oraw material prices;
  oenergy prices;
  othe effect of weather;
  othe risk of loss from fires, floods, windstorms, hurricanes, pest
    infestation and other natural disasters;
  otransportation costs;
  ofederal tax policies;
  othe effect of forestry, land use, environmental and other governmental
    regulations;
  olegal proceedings;
  operformance of pension fund investments and related derivatives;
  othe effect of timing of retirements and changes in the market price of
    company stock on charges for stock-based compensation;
  ochanges in accounting principles; and
  oother factors described under "Risk Factors" in the Company's annual
    report on Form 10-K and quarterly reports on Form 10-Q.

The company also is a large exporter and is affected by changes in economic
activity in Europe and Asia, particularly Japan and China. It is affected by
changes in currency exchange rates, particularly the relative value of the
U.S. dollar to the euro and the Canadian dollar, and the relative value of the
euro and the yen. Restrictions on international trade or tariffs imposed on
imports also may affect the company.

For more information contact:
Analysts - Kathryn McAuley (253) 924-2058
Media - Anthony Chavez (253) 924-7148

                                                        Exhibit 99.2
Weyerhaeuser Company
Q3.2013 Analyst Package
Preliminary results, subject to audit
Consolidated Statement of Operations
in millions          Q2         Q3                      Year-to-date
                     June 30,   September   September   September   September
                                30,         30,         30,         30,
                     2013
                                2013        2012        2013        2012
Net Sales            $         $  2,181   $  1,772   $  6,273   $  5,059
                     2,141
Cost of products     1,664      1,728       1,424       4,925       4,230
sold
Gross margin         477        453         348         1,348       829
Selling expenses     54         56          49          161         138
General and
administrative       108        112         107         338         310
expenses
Research and         8          8           8           23          23
development expenses
Charges for
restructuring,       6          2           10          12          26
closures and
impairments
Other operating      (10)       (2)         (28)        (30)        (147)
income, net
Operating income     311        277         202         844         479
Interest income and  10         21          15          42          38
other
Interest expense,
net of capitalized   (81)       (95)        (87)        (258)       (260)
interest
Earnings before      240        203         130         628         257
income taxes
Income taxes         (42)       (36)        (13)        (119)       (15)
Net earnings         198        167         117         509         242
Dividends on         (2)        (10)        —           (12)        —
preference shares
Net earnings
attributable to      $       $   157  $   117  $   497  $   242
Weyerhaeuser common  196
shareholders
Per Share Information
                     Q2         Q3                      Year-to-date
                     June 30,   September   September   September   September
                                30,         30,         30,         30,
                     2013
                                2013        2012        2013        2012
Basic earnings per
share attributable   $       $        $        $        $   
to Weyerhaeuser      0.35      0.27        0.22        0.89        0.45
common shareholders
Diluted earnings per
share attributable   $       $        $        $        $   
to Weyerhaeuser      0.35      0.27        0.22        0.88        0.45
common shareholders
Dividends paid per   $       $        $        $        $   
common share         0.20      0.22        0.15        0.59        0.45
Weighted average
shares outstanding
(in thousands):
Basic                552,855    582,828     539,094     560,505     538,146
Diluted              557,588    587,179     542,311     565,383     540,694
Common shares
outstanding at end   577,874    582,578     540,672     582,578     540,672
of period (in
thousands)
Adjusted Earnings before Interest, Tax, Depreciation, Depletion and
Amortization, Excluding Special Items*
in millions          Q2         Q3                      Year-to-date
                     June 30,   September   September   September   September
                                30,         30,         30,         30,
                     2013
                                2013        2012        2013        2012
Net earnings         $      $        $        $        $   
                     198        167        117        509        242
Interest income and  (10)       (21)        (15)        (42)        (38)
other
Interest expense,
net of capitalized   81         95          87          258         260
interest
Income taxes         42         36          13          119         15
Operating income     311        277         202         844         479
Depreciation,
depletion and        111        120         112         343         338
amortization
Non-operating
pension and          10         11          7           31          21
postretirement costs
Special items        —          —           —           —           (95)
Capitalized interest
included in cost of  13         10          6           32          28
products sold
Adjusted EBITDA,     $   
excluding special    445       $   418  $   327  $  1,250   $   771
items*
* Non-GAAP measure

Weyerhaeuser Company
Q3.2013 Analyst Package
Preliminary results, subject to
audit
Consolidated Balance Sheet
in millions                       June 30,      September 30,    December 31,

                                  2013          2013             2012
ASSETS
Forest Products:
Current assets:
 Cash and cash equivalents     $    908  $         $      
                                                898              893
 Receivables, less allowances  589           586              474
 Receivables for taxes         43            31               95
 Inventories                   561           533              531
 Prepaid expenses              96            114              83
 Deferred tax assets           144           113              65
 Restricted financial
investments held by variable      —             —                184
interest entities
 Total current assets      2,341         2,275            2,325
Property and equipment, net       2,706         2,709            2,859
Construction in progress          72            101              50
Timber and timberlands at cost,
less depletion charged to         3,949         6,603            3,961
disposals
Cash and cash equivalents
designated for the purchase of    1,450         494              —
Longview Timber LLC and the
repayment of their acquired debt
Investments in and advances to    186           186              192
equity affiliates
Goodwill                          42            42               40
Deferred tax assets               64            66               189
Other assets                      349           325              358
Restricted financial investments
held by variable interest         615           615              615
entities
                                  11,774        13,416           10,589
Real Estate:
Cash and cash equivalents         4             5                5
Receivables, less allowances      74            77               72
Real estate in process of         783           851              682
development and for sale
Land being processed for          940           932              927
development
Investments in and advances to    20            20               21
equity affiliates
Deferred tax assets               201           195              202
Other assets                      112           113              94
                                  2,134         2,193            2,003
Total assets                      $ 13,908      $    15,609  $   12,592
LIABILITIES AND EQUITY
Forest Products:
Current liabilities:
 Notes payable                 $        $         $      
                                  2              2             —
 Current maturities of         163           —                340
long-term debt
Current maturities of
long-term debt (nonrecourse to    —             —                161
the company) held by variable
interest entities
 Accounts payable              341           362              329
 Accrued liabilities           573           623              570
  Total current liabilities 1,079         987              1,400
Long-term debt                    3,842         5,459            3,842
Long-term debt (nonrecourse to
the company) held by variable     511           511              511
interest entities
Deferred income taxes             38            44               —
Deferred pension and other        1,785         1,727            1,930
postretirement benefits
Other liabilities                 446           438              499
                                  7,701         9,166            8,182
Real Estate:
Long-term debt                    109           109              109
Long-term debt (nonrecourse to
the company) held by variable     4             5                1
interest entities
Other liabilities                 188           212              187
                                  301           326              297
Total liabilities                 8,002         9,492            8,479
Equity:
Total Weyerhaeuser shareholders'  5,868         6,078            4,070
interest
Noncontrolling interests          38            39               43
Total equity                      5,906         6,117            4,113
Total liabilities and equity      $ 13,908      $    15,609  $   12,592

Weyerhaeuser Company
Q3.2013 Analyst Package
Preliminary results, subject to audit
Consolidated Statement of Cash Flows
in millions          Q2     Q3                        Year-to-date
                     June   September    September    September    September
                     30,    30,          30,          30,          30,

                     2013   2013         2012         2013         2012
Cash flows from
operations:
Net earnings         $     $       $       $       $     
                     198   167         117          509        242
Noncash charges
(credits) to income:
 Depreciation,
depletion and        111    120          112          343          338
amortization
 Deferred income  23     24           62           73           69
taxes, net
 Pension and
other postretirement 28     27           19           79           (39)
benefits
 Share-based      10     12           10           34           28
compensation expense
 Charges for      2      2            7            5            19
impairment of assets
 Net gains on
dispositions of      (14)   (21)         (22)         (42)         (39)
assets
 Foreign exchange
transaction (gains)  4      (2)          (10)         6            (8)
losses
Change in:
 Receivables less 45     8            (10)         (112)        (33)
allowances
 Receivable for   22     12           (91)         64           (75)
taxes
 Inventories      32     36           (22)         —            (34)
 Real estate and  (62)   (58)         (47)         (179)        (95)
land
 Prepaid expenses (1)    (2)          2            (16)         (18)
 Accounts payable
and accrued          34     77           14           45           23
liabilities
 Deposits on land
positions and other  (9)    (1)          (11)         (11)         11
assets
Pension and
postretirement       (32)   (35)         (41)         (104)        (109)
contributions
Other                (17)   (23)         33           (38)         49
Net cash from        374    343          122          656          329
operations
Cash flows from
investing
activities:
Property and         (47)   (69)         (75)         (151)        (197)
equipment
Timberlands          (8)    (7)          (5)          (28)         (22)
reforestation
Acquisition of
Longview Timber LLC, —      (1,581)      —            (1,581)      —
net of cash acquired
Proceeds from sale   8      1            12           15           36
of assets
Proceeds of
investments
(payments of         22     —            (97)         22           (97)
liabilities) held by
special purpose
entities
Other                (4)    9            (1)          5            (1)
Cash from investing  (29)   (1,647)      (166)        (1,718)      (281)
activities
Cash flows from
financing
activities:
Net proceeds from
issuance of common   781    116          —            897          —
shares^(1)
Net proceeds from
issuance of          669    —            —            669          —
preference
shares^(1)
Net proceeds from    —      494          —            494          —
issuance of debt^(1)
Cash dividends on    (109)  (128)        (81)         (330)        (242)
common shares
Change in book       4      1            (12)         8            (32)
overdrafts
Payments on debt     (21)   (163)        (181)        (340)        (187)
Exercises of stock   51     9            66           141          73
options
Other                3      10           (1)          22           (5)
Cash from financing  1,378  339          (209)        1,561        (393)
activities
Net change in cash   1,723  (965)        (253)        499          (345)
and cash equivalents
Cash and cash
equivalents at       639    2,362        861          898          953
beginning of period
Cash and cash        $      $        $       $        $     
equivalents at end   2,362  1,397        608         1,397       608
of period
Cash paid (received)
during the year for:
 Interest, net of $    $       $       $       $     
amount capitalized   55    109         122          275        290
 Income taxes     $    $       $       $       $     
                     (4)     2         1         (4)       (14)
Noncash investing
and financing
activity:            $    $        $       $        $     
acquisition of       —     1,070         —         1,070        —
Longview Timber LLC,
debt assumed

^(1)During second and third quarter 2013, we received $2,060 million in cash
related to the issuance of common shares, mandatory convertible preference
shares and debt related to the acquisition of Longview Timber LLC. We have
recorded this cash as "Cash and cash equivalents designated for the purchase
of Longview Timber LLC and the repayment of their acquired debt" on our
Consolidated Balance Sheet.

                     Total Company Statistics
Weyerhaeuser Company
Q3.2013 Analyst Package
Preliminary results, subject to audit
Special Items Included in Net Earnings
in millions          Q2       Q3                        Year-to-date
                     June     September    September    September    September
                     30,      30,          30,          30,          30,

                     2013     2013         2012         2013         2012
Net earnings
attributable to      $  196  $       $   117   $       $    
Weyerhaeuser common           157                      497          242
shareholders
Restructuring,
impairments and      —        —            —            —            10
other charges
Gain on
postretirement plan  —        —            —            —            (67)
amendment
Tax settlements      —        —            —            —            (8)
Gain on sale of      —        —            —            —            (4)
property
Net earnings
attributable to               $                    $       $    
Weyerhaeuser common  $  196  157         $   117   497          173
shareholders before
special items
                     Q2       Q3                        Year-to-date
                     June     September    September    September    September
                     30,      30,          30,          30,          30,

                     2013     2013         2012         2013         2012
Net earnings per
diluted share                 $                    $       $    
attributable to      $ 0.35  0.27         $   0.22   0.88          0.45
Weyerhaeuser common
shareholders
Restructuring,
impairments and      —        —            —            —            0.02
other charges
Gain on
postretirement plan  —        —            —            —            (0.12)
amendment
Tax settlements      —        —            —            —            (0.02)
Gain on sale of      —        —            —            —            (0.01)
property
Net earnings per
diluted share
attributable to      $ 0.35  $       $   0.22   $       $    
Weyerhaeuser common           0.27                      0.88          0.32
shareholders before
special items
Selected Total Company Items
in millions          Q2       Q3                        Year-to-date
                     June     September    September    September    September
                     30,      30,          30,          30,          30,

                     2013     2013         2012         2013         2012
Depreciation,
depletion and
amortization:
Cost of products     $       $       $    102  $       $    
sold                 102      110                      315          307
Selling, general and
administrative       9        10           10           28           31
expenses
Total depreciation,  $       $                    $       $    
depletion and        111      120        $    112   343          338
amortization
Pension and
postretirement
costs:
Pension and
postretirement costs $      $       $        $       $    
allocated to         16        16       12             46          39
business segments
Pension and
postretirement costs 10       11           7            31           21
not allocated
Total company        $      $       $        $       $    
pension and          26        27       19             77          60
postretirement costs
Total decrease
(increase) in Forest $       $       $         $       $    
Products working     161      138        (29)          (35)         (74)
capital^(1)
Cash spent for       $       $       $         $       $    
capital expenditures (55)     (76)       (80)         (179)         (219)
^(1)Working capital does not include cash
balances.

Weyerhaeuser Company         Timberlands Segment
Q3.2013 Analyst Package
Preliminary results, subject to audit
Segment Statement of Operations
in millions                  Q2.2013   Q3.2013   Q3.2012   YTD.2013   YTD.2012
Sales to unaffiliated        $       $       $       $       $   
customers                    333      353      267       979        779
Intersegment sales           166       194       162       584        498
Total net sales              499       547       429       1,563      1,277
Cost of products sold        365       407       336       1,167      1,002
Gross margin                 134       140       93        396        275
Selling expenses             2         3         3         8          7
General and administrative   25        27        21        77         65
expenses
Research and development     5         4         4         13         13
expenses
Charges for restructuring,   —         —         —         2          —
closures and impairments
Other operating income, net  (11)      (11)      (14)      (37)       (35)
Operating income             113       117       79        333        225
Interest income and other    1         1         1         3          2
Net contribution to earnings $       $       $       $   336  $  
                             114       118       80                  227
Adjusted Earnings before Interest, Tax, Depreciation, Depletion and
Amortization, Excluding Special Items*
in millions                  Q2.2013   Q3.2013   Q3.2012   YTD.2013   YTD.2012
Operating income             $       $       $       $   333  $  
                             113       117       79                  225
Depreciation, depletion and  34        45        35        115        104
amortization
Adjusted EBITDA, excluding   $       $       $  114   $   448  $  
special items*               147       162                            329
* Non-GAAP measure
Selected Segment Items
                             Q2.2013   Q3.2013   Q3.2012   YTD.2013   YTD.2012
Total decrease (increase) in $       $      $      $       $   
working capital^(1)          (21)     31       19        —          16
Cash spent for capital       $       $       $       $       $   
expenditures                 (18)     (16)     (17)      (52)       (44)
^(1)Working capital does not
include cash balances.
Segment Statistics
                             Q2.2013   Q3.2013   Q3.2012   YTD.2013   YTD.2012
              Logs:
               West       $       $       $       $       $   
                             208      213      132       598        408
               South      65        66        60        192        166
               Canada     2         6         5         15         14
              Total logs     275       285       197       805        588
              Pay as cut     4         2         3         7          9
              timber sales
Third Party   Chip sales     2         2         4         7          14
              Timberlands    14        28        24        44         39
Net Sales     exchanges
              Higher and
(millions)    better use     5         2         4         10         13
              land sales
              Minerals, oil  9         9         8         26         22
              and gas
              Products from
              international  22        24        26        68         80
              operations
              Other products 2         1         1         12         14
              Total          $       $       $       $       $   
                             333      353      267       979        779
Logs                                                                  $ 
              West           $ 115.11  $ 104.73  $ 89.28  $ 108.33  94.09
Third Party
Sales         South          $        $        $ 42.04  $         $ 
                             43.47     43.32               43.42     41.26
Realizations  Canada         $        $        $ 35.23  $         $ 
                             36.38     38.77               37.38     35.74
(per cubic    International  $        $        $ 23.76  $         $ 
meter)                       25.00     25.07               24.75     23.45
Logs
              West           1,812     2,037     1,480     5,523      4,339
Third Party
Sales         South          1,507     1,514     1,430     4,420      4,012

Volumes       Canada         38        141       133       383        392

(cubic        International  77        100       99        245        259
meters,
              Total          3,434     3,792     3,142     10,571     9,002
thousands)
Logs
              West           1,921     2,305     1,784     6,221      5,294
Fee Harvest
Volumes       South          2,828     2,928     2,809     8,589      8,311

(cubic        International  167       415       198       779        531
meters,
              Total          4,916     5,648     4,791     15,589     14,136
thousands)

Wood Products Segment
Weyerhaeuser Company
Q3.2013 Analyst Package
Preliminary results, subject to audit
Segment Statement of Operations 
in millions                      Q2.2013  Q3.2013  Q3.2012  YTD.2013  YTD.2012
Sales to unaffiliated customers  $        $        $       $        $ 
                                 1,065   1,030   816     3,083    2,226
Intersegment sales               18       19       18       55        58
Total net sales                  1,083    1,049    834      3,138     2,284
Cost of products sold            884      905      713      2,559     2,032
Gross margin                     199      144      121      579       252
Selling expenses                 24       24       23       74        65
General and administrative       36       37       31       109       89
expenses
Research and development         1        2        2        4         4
expenses
Charges for restructuring,       1        1        2        2         5
closures and impairments
Other operating costs (income),  1        1        4        (3)       8
net
Operating income                 136      79       59       393       81
Interest income and other        —        —        —        —         1
Net contribution to earnings     $  136  $      $      $       $   
                                          79      59       393       82
Adjusted Earnings before Interest, Tax, Depreciation, Depletion and
Amortization, Excluding Special Items*
in millions                      Q2.2013  Q3.2013  Q3.2012  YTD.2013  YTD.2012
Operating income                 $  136  $      $      $       $   
                                          79      59       393       81
Depreciation, depletion and      31       31       33       93        100
amortization
Special items                    —        —        —        —         (6)
Adjusted EBITDA, excluding       $  167  $  110  $      $       $  
special items*                                     92       486       175
* Non-GAAP measure
Segment Special Items Included in Net Contribution to Earnings (Pre-Tax) 
                                 Q2.2013  Q3.2013  Q3.2012  YTD.2013  YTD.2012
Gain on sale of property         $      $      $      $      $   
                                 —       —       —       —          6
Total                            $      $      $   —  $      $   
                                 —       —                —         6
Selected Segment Items
                                 Q2.2013  Q3.2013  Q3.2012  YTD.2013  YTD.2012
Total decrease (increase) in     $     $     $       $      $  
working capital^(1)              75       74       (21)    (45)      (128)
Cash spent for capital           $      $      $       $      $   
expenditures                     (16)     (26)     (16)    (52)      (37)
^(1)Working capital does not
include cash balances.
Segment Statistics
in millions, except for          Q2.2013  Q3.2013  Q3.2012  YTD.2013  YTD.2012
third-party sales realizations
                   Third party   $      $      $       $        $ 
                   net sales     502      480      363     1,433    1,024
                   Third party   $      $      $       $      $   
                   sales         434      404      359     425       341
                   realizations
StructuralLumber  Third party
                   sales         1,156    1,189    1,013    3,370     3,006
(board feet)       volumes^(1)
                   Production    1,053    1,040    945      3,114     2,907
                   volumes
                   Outside
                   purchase      77       92       69       271       148
                   volumes
                   Third party   $     $     $      $      $   
                   net sales     84       97       76      263       211
                   Third party   $        $                 $        $ 
                   sales         1,920   1,963   $ 1,800  1,913    1,806
Engineered Solid   realizations
                   Third party
Section            sales         4.4      4.9      4.2      13.7      11.7
                   volumes^(1)
(cubic feet)       Production    4.6      4.6      4.3      13.8      11.8
                   volumes
                   Outside
                   purchase      0.4      0.3      0.4      1.6       1.6
                   volumes
                   Third party   $     $     $      $      $   
                   net sales     60       68       53      184       143
                   Third party   $        $                 $        $ 
                   sales         1,358   1,428   $ 1,248  1,364    1,246
Engineered         realizations
                   Third party
I-joists           sales         44       48       43       135       115
                   volumes^(1)
(lineal feet)      Production    42       44       39       130       110
                   volumes
                   Outside
                   purchase      1        2        3        6         7
                   volumes
                   Third party   $      $      $       $      $   
                   net sales     224      188      169     648       418
                   Third party   $      $      $       $      $   
                   sales         332      246      268     309       227
Oriented Strand    realizations
                   Third party
Board              sales         675      762      630      2,094     1,838
                   volumes^(1)
(square feet 3/8') Production    663      725      642      2,050     1,869
                   volumes
                   Outside
                   purchase      56       49       60       173       140
                   volumes
                   Third party   $     $     $      $      $   
                   net sales     41       38       34      115        83
                   Third party   $      $      $       $      $   
                   sales         378      344      356     364       334
                   realizations
SoftwoodPlywood   Third party
                   sales         108      108      95       315       249
(square feet 3/8') volumes^(1)
                   Production    63       62       54       186       155
                   volumes
                   Outside
                   purchase      33       40       39       115       93
                   volumes

^(1)Volumes include sales of internally produced products and products
purchased for resale primarily through our distribution business.

Weyerhaeuser Company        Cellulose Fibers Segment
Q3.2013 Analyst Package
Preliminary results, subject to
audit
Segment Statement of Operations
in millions                 Q2.2013   Q3.2013   Q3.2012   YTD.2013   YTD.2012
Total net sales             $  476   $  474   $  459   $ 1,424   $ 1,391
Cost of products sold       394       406       364       1,224      1,175
Gross margin                82        68        95        200        216
Selling expenses            5         5         4         14         13
General and administrative  21        21        19        62         56
expenses
Research and development    2         2         2         6          6
expenses
Other operating income, net (5)       (6)       (5)       (18)       (18)
Operating income            59        46        75        136        159
Interest income and other   (2)       1         3         (1)        3
Net contribution to         $   57  $   47  $   78  $   135  $   162
earnings
Adjusted Earnings before Interest, Tax, Depreciation, Depletion and
Amortization, Excluding Special Items*
in millions                 Q2.2013   Q3.2013   Q3.2012   YTD.2013   YTD.2012
Operating income            $   59  $   46  $   75  $   136  $   159
Depreciation, depletion and 39        38        37        116        110
amortization
Adjusted EBITDA, excluding  $   98  $   84  $  112   $   252  $   269
special items*
* Non-GAAP measure
Selected Segment Items
                            Q2.2013   Q3.2013   Q3.2012   YTD.2013   YTD.2012
Total decrease (increase)   $       $       $        $      $    
in working capital^(1)      12       19       (20)     24         49
Cash spent for capital      $        $        $        $       $  
expenditures                (17)     (28)     (45)     (62)       (134)
^(1)Working capital does
not include cash balances.
Segment Statistics
                            Q2.2013   Q3.2013   Q3.2012   YTD.2013   YTD.2012
            Third party net                               $         $ 
            sales           $  369  $  371  $  354  1,111     1,069
            (millions)
Pulp        Third party                                   $       $   
            sales           $  797  $  805  $  818  799        818
(air-dry    realizations
metric     Third party
            sales volumes   462       460       432       1,389      1,306
tons)       (thousands)
            Production
            volumes         463       457       453       1,365      1,308
            (thousands)
            Third party net $       $       $       $       $   
            sales           86       83       84       254        257
Liquid      (millions)
            Third party                                   $         $ 
Packaging   sales           $ 1,079   $ 1,082   $ 1,155   1,080     1,171
            realizations
Board       Third party
            sales volumes   81        76        74        235        220
(tons)      (thousands)
            Production
            volumes         77        67        77        222        220
            (thousands)

Weyerhaeuser Company Real Estate Segment
Q3.2013 Analyst Package
Preliminary results, subject to
audit
Segment Statement of Operations
in millions          Q2.2013     Q3.2013     Q3.2012    YTD.2013    YTD.2012
Total net sales      $  267     $  324     $  230    $   787   $   663
Cost of products     210         248         175        618         536
sold
Gross margin         57          76          55         169         127
Selling expenses     23          24          19         65          53
General and
administrative       19          20          17         57          49
expenses
Charges for
restructuring,       3           1           3          5           5
closures and
impairments
Other operating      (1)         (1)         —          (2)         (1)
income, net
Operating income     13          32          16         44          21
Interest income and  1           1           1          3           3
other
Net contribution to  $   14    $   33    $   17   $        $    24
earnings                                                47
Adjusted Earnings before Interest, Tax, Depreciation, Depletion and
Amortization, Excluding Special Items*
in millions          Q2.2013     Q3.2013     Q3.2012    YTD.2013    YTD.2012
Operating income     $   13    $   32    $   16   $        $    21
                                                        44
Depreciation,
depletion and        3           4           3          10          8
amortization
Capitalized interest
included in cost of  12          9           5          28          22
products sold
Adjusted EBITDA,                                        $   
excluding special    $   28    $   45    $   24   82         $    51
items*
* Non-GAAP measure
Selected Segment Items
                     Q2.2013     Q3.2013     Q3.2012    YTD.2013    YTD.2012
Cash from operations $  (56)   $   (2)  $  (24)  $         $   
                                                        (129)       (13)
Cash spent for       $   (2)  $   (5)  $        $       $    
capital expenditures                         (1)       (9)         (2)
Segment Statistics
                     Q2.2013     Q3.2013     Q3.2012    YTD.2013    YTD.2012
Net sales:
Single-family        $  257    $  305    $  229   $        $   550
housing                                                 745
Land                 10          18          1          39          109
Other                —           1           —          3           4
Total net sales      $  267    $  324    $  230   $        $   663
                                                        787
Single-family homes  943         765         637        2,528       2,098
sold
Single-family homes  636         768         615        1,867       1,472
closed
Single-family homes
sold but not closed  1,438       1,435       1,055      1,435       1,055
(backlog)
Single-family        14.6 %      15.7 %      18.3 %     14.2 %      14.6 %
cancellation rate
Single-family buyer  20,080      16,370      17,894     54,214      49,843
traffic
Single-family
average price of     $  405     $  397     $  372    $   399  $   374
homes closed (in
thousands)
Single-family gross  21.6 %      22.3 %      23.3 %     21.4 %      20.5 %
margin^(1)

^(1)Single-family gross margin equals revenue less cost of sales and period
costs.

Weyerhaeuser Company                                      Unallocated Items
Q3.2013 Analyst Package
Preliminary results, subject to audit
Unallocated items are gains or charges not related to or allocated to an
individual operating segment. They include a portion of items such as:
share-based compensation, pension and postretirement costs, foreign exchange
transaction gains and losses associated with financing and the elimination of
intersegment profit in inventory and the LIFO reserve.
Contribution to Earnings
in millions           Q2.2013      Q3.2013      Q3.2012   YTD.2013   YTD.2012
Unallocated corporate $   (3)   $   (2)   $       $      $   
function expenses                               (5)      (8)        (14)
Unallocated
share-based           5            (1)          (7)       (3)        (13)
compensation
Unallocated pension & (10)         (11)         (7)       (31)       (21)
postretirement costs
Foreign exchange      (4)          2            11        (6)        9
gains (losses)
Elimination of
intersegment profit   8            25           (10)      9          (24)
in inventory and LIFO
Other                 (6)          (10)         (9)       (23)       56
Operating income      (10)         3            (27)      (62)       (7)
(loss)
Interest income and   10           18           10        37         29
other
Net contribution to   $   —      $   21     $  (17)  $        $   
earnings                                                  (25)      22
Adjusted Earnings before Interest, Tax, Depreciation, Depletion and
Amortization, Excluding Special Items*
in millions           Q2.2013      Q3.2013      Q3.2012   YTD.2013   YTD.2012
Operating income      $  (10)     $    3    $  (27)  $        $   
(loss)                                                    (62)      (7)
Depreciation,
depletion and         4            2            4         9          16
amortization
Non-operating pension
and postretirement    10           11           7         31         21
costs
Special items         —            —            —         —          (89)
Capitalized interest
included in cost of   1            1            1         4          6
products sold
Adjusted EBITDA,                                          $        $  
excluding special     $    5    $   17     $  (15)  (18)      (53)
items*
* Non-GAAP measure -
see below for
definition.
Unallocated Special Items Included in Net Contribution to Earnings (Pre-Tax)
                      Q2.2013      Q3.2013      Q3.2012   YTD.2013   YTD.2012
Gain on                                                   $       $   
postretirement plan   $   —     $   —     $   —  —         103
amendment
Restructuring,
impairments and other —            —            —         —          (14)
charges
Total                 $   —      $   —      $   —   $       $   
                                                          —         89
Unallocated Selected Items
                      Q2.2013      Q3.2013      Q3.2012   YTD.2013   YTD.2012
Total decrease                                  $       $       $   
(increase) in working $   95    $   14    (7)      (14)       (11)
capital^(1)
Cash spent for        $   (2)   $   (1)   $       $      $    
capital expenditures                            (1)      (4)        (2)
^(1)Working capital does not include cash
balances.

*Adjusted EBITDA excluding special items is a non-GAAP measure that management
uses to evaluate the performance of the company. Adjusted EBITDA excluding
special items, as we define it, is operating income adjusted for depreciation,
depletion, amortization, special items and interest included in cost of
products sold. Adjusted EBITDA excluding special items should not be
considered in isolation from and is not intended to represent an alternative
to our results computed under GAAP.

SOURCE Weyerhaeuser Company

Website: http://www.weyerhaeuser.com
 
Press spacebar to pause and continue. Press esc to stop.