WEYERHAEUSER CO Segments Disclosure
NOTE 2: BUSINESS SEGMENTS
Our business segments and how we account for those segments are discussed in Note 1: Summary of Significant Accounting Policies. This note provides key financial data by business segment and information about our chief operating decision maker.
KEY FINANCIAL DATA BY BUSINESS SEGMENT
Sales, Significant Segment Expenses and Net Contribution (Charge) to Earnings
DOLLAR AMOUNTS IN MILLIONS |
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UNALLOCATED |
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REAL |
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ITEMS AND |
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ESTATE |
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WOOD |
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INTERSEGMENT |
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TIMBERLANDS |
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& ENR |
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PRODUCTS |
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ELIMINATIONS |
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CONSOLIDATED |
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2025 |
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Net sales to unaffiliated customers |
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$ |
1,494 |
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$ |
454 |
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$ |
4,957 |
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$ |
— |
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$ |
6,905 |
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Intersegment sales |
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592 |
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— |
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— |
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(592 |
) |
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— |
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Total |
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2,086 |
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454 |
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4,957 |
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(592 |
) |
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6,905 |
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Costs of sales |
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1,664 |
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|
117 |
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4,674 |
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(575 |
) |
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5,880 |
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Gross margin |
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422 |
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337 |
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|
283 |
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(17 |
) |
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|
1,025 |
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Selling expenses |
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1 |
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— |
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|
88 |
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3 |
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|
92 |
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General and administrative expenses |
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|
97 |
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27 |
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|
156 |
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173 |
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|
453 |
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Other segment items(1) |
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(262 |
) |
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(5 |
) |
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(16 |
) |
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230 |
|
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(53 |
) |
Net contribution (charge) to earnings |
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$ |
586 |
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$ |
315 |
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$ |
55 |
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|
$ |
(423 |
) |
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$ |
533 |
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2024 |
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Net sales to unaffiliated customers |
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$ |
1,512 |
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$ |
391 |
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$ |
5,221 |
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$ |
— |
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$ |
7,124 |
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Intersegment sales |
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554 |
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— |
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— |
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(554 |
) |
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— |
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Total |
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2,066 |
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391 |
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5,221 |
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(554 |
) |
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7,124 |
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Costs of sales |
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1,686 |
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152 |
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4,516 |
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(543 |
) |
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5,811 |
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Gross margin |
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380 |
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239 |
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705 |
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(11 |
) |
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1,313 |
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Selling expenses |
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1 |
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— |
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85 |
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2 |
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88 |
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General and administrative expenses |
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100 |
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26 |
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155 |
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|
199 |
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|
480 |
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Other segment items(1) |
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(1 |
) |
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(3 |
) |
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8 |
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45 |
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49 |
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Net contribution (charge) to earnings |
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$ |
280 |
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$ |
216 |
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$ |
457 |
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$ |
(257 |
) |
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$ |
696 |
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2023 |
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Net sales to unaffiliated customers |
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$ |
1,654 |
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$ |
363 |
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$ |
5,657 |
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$ |
— |
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$ |
7,674 |
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Intersegment sales |
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572 |
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— |
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— |
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(572 |
) |
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— |
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Total |
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2,226 |
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363 |
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5,657 |
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(572 |
) |
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7,674 |
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Costs of sales |
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1,746 |
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126 |
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4,699 |
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(579 |
) |
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5,992 |
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Gross margin |
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480 |
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237 |
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958 |
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7 |
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1,682 |
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Selling expenses |
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1 |
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— |
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84 |
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2 |
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|
87 |
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General and administrative expenses |
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100 |
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26 |
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|
149 |
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156 |
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|
431 |
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Other segment items(1) |
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(109 |
) |
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— |
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16 |
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40 |
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(53 |
) |
Net contribution (charge) to earnings |
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$ |
488 |
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$ |
211 |
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$ |
709 |
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$ |
(191 |
) |
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$ |
1,217 |
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The chief operating decision maker, our president and chief executive officer, evaluates segment performance and allocates capital based on the net contribution (charge) to earnings of the respective segments. This measure is used to monitor budget versus actual results and to benchmark performance against competitors, as well as to evaluate segment performance for capital allocation decisions. An analysis and reconciliation of our business segment information to the consolidated financial statements are included below:
Reconciliation of Net Contribution to Earnings to Net Earnings
DOLLAR AMOUNTS IN MILLIONS |
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2025 |
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2024 |
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2023 |
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Net contribution to earnings |
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$ |
533 |
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$ |
696 |
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$ |
1,217 |
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Interest expense, net of capitalized interest |
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(273 |
) |
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(269 |
) |
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(280 |
) |
Income before income taxes |
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260 |
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|
427 |
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|
937 |
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Income taxes |
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64 |
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(31 |
) |
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(98 |
) |
Net earnings |
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$ |
324 |
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$ |
396 |
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$ |
839 |
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Additional Financial Information
DOLLAR AMOUNTS IN MILLIONS |
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REAL ESTATE |
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|
WOOD |
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UNALLOCATED |
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|||||
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TIMBERLANDS |
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& ENR |
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PRODUCTS |
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ITEMS |
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CONSOLIDATED |
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Depreciation, depletion and amortization |
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2025 |
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$ |
261 |
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$ |
12 |
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$ |
224 |
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$ |
12 |
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$ |
509 |
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2024 |
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$ |
260 |
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$ |
13 |
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$ |
219 |
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$ |
10 |
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$ |
502 |
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2023 |
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$ |
267 |
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$ |
16 |
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$ |
210 |
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$ |
7 |
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$ |
500 |
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Capital expenditures |
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2025 |
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$ |
120 |
|
|
$ |
— |
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|
$ |
353 |
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$ |
1 |
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$ |
474 |
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2024 |
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$ |
105 |
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$ |
— |
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$ |
294 |
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$ |
17 |
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$ |
416 |
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2023 |
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$ |
111 |
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$ |
— |
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$ |
323 |
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$ |
13 |
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$ |
447 |
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Total Assets
DOLLAR AMOUNTS IN MILLIONS |
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||||
|
|
TIMBERLANDS AND |
|
|
WOOD |
|
|
UNALLOCATED |
|
|
|
|
||||
|
|
REAL ESTATE & ENR |
|
|
PRODUCTS |
|
|
ITEMS |
|
|
CONSOLIDATED |
|
||||
Total assets(1) |
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|
||||
2025 |
|
$ |
12,687 |
|
|
$ |
3,194 |
|
|
$ |
732 |
|
|
$ |
16,613 |
|
2024 |
|
$ |
12,545 |
|
|
$ |
3,116 |
|
|
$ |
875 |
|
|
$ |
16,536 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 14, 2020 | |
| 2018 | Feb 15, 2019 | |
| 2017 | Feb 16, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 17, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.