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Weyerhaeuser向第四季度净收入为1.26亿美元,或每股57美分,净销售额为47亿美元

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2003年2月3日

Weyerhaeuser公司(纽约证券交易所代码:WY)今天报告了第四季度的净收入为1.26亿美元,或每股57美分,包括税收税率为3800万美元,或每股16美分。

相比之下,该公司去年同期亏损1500万美元,合每股亏损7美分。去年第四季度的净利润包括2000万美元的税后费用,或每股9美分,与关闭三家木材产品工厂有关。manbetx apk手机版

惠好全年净利为2.41亿美元,合每股收益1.09美元,其中包括5500万美元的税后特殊支出,合0.25美元,净营收为185亿美元。相比之下,2001年净营收为145亿美元,净利润为3.54亿美元,合每股1.61美元,其中包括5,700万美元的特殊税后费用,合每股26美分。

2002年第四季度的不寻常物品包括: - 税后6500万美元,或每股29美分,在华盛顿州的销售销售,与销售和相关木材产品和Timberlands的关闭相关的费用净额manbetx apk手机版。- 税后2600万美元,或每股11美分,保险收益,涵盖普利茅斯,N.C.,前季度纸质设施的业务中断费用。该设施在第三季度恢复正常运行。- 税后2300万美元,或每股10美分,为美国员工终止前麦克默兰德养老金计划的收取费用。- 税后1900万美元,或每股9美分,与威拉米特行业的收购和整合有关的费用。Weyerhaeuser表示,它继续在临时获取后捕获协同作用的进展。在第四季度结束时,Weyerhaeuser估计它已经实现了税务协同效应的年度达人级的1.84亿美元。本公司自信将达到税前年度协同效力3亿美元,截至2005年末,税后 - 税后1500万美元,或每股7美分,与其他设施相关联的净充电。-  400万美元,或每股2美分,税后净净减少折旧导致威利纳米特收购的初步购买价格分配造成的折旧。

此外,Weyerhaeuser在反倾销和反倾销职责中产生了大约2600万美元,以及加拿大软木木材的相关成本本公司进入美国。2002年,该公司在反倾销职责和相关成本中产生了约6400万美元。

“我们很高兴我们的员工们努力将两家伟大的公司共同创造一个巨大的未来,”总裁兼首席执行官主席斯图文R. Rogel说。“在第四季度,我们的纸浆和纸张,包装板,包装和回收企业产生了改进的运营结果,在困难的市场中。强大的住宅建筑继续推动我们的房地产业务和对木材的需求方面的出色性能。然而,木制品仍在继续manbetx apk手机版由于过度应用的市场和加拿大软木木材问题创造的不确定性是一个问题。

“虽然经济复苏的时间和实力仍然不确定,但由于我们努力降低成本,合理化生产能力,提高营业效率,提高客户的努力,韦伊尔霍夫斯人仍然受益于经济复苏,因此较好地受益于经济复苏,”罗格尔说。“

第四季度财务亮点总结:百万(不包括每股数据)2002年第四季度2001年第四季度变动净利$126($15)$141每股收益(EPS) $0.57($0.07) $0.64不包括非寻常项目净利$88 $5 $83不包括非寻常项目净利$0.41 $0.02 $0.39净利$4,718 $3,398 $1,320全年财务重点总结数百万(每股数据除外)2002 2001改变净收益241美元354美元(113美元)的每股收益(EPS) 1.09美元1.61美元(合0.52美元)净收益扣除不寻常的项目296美元411美元(115美元)每股收益扣除不寻常的项目1.34美元1.87美元(0.53美元)的净销售额18521美元14545美元3976美元段2002年第四季度业绩(税前利润贡献)数百万4 q2002年第四季改变林地$318 $109 $209木制品($75)($107)$32纸浆和纸manbetx apk手机版张$86($3)$89硬纸板、包装、回收$114 $59 $55房地产及相关资产$81 $58 $23林地2002年第四季2002年第三季改变对收入的贡献(百万)$318 $138 $180

Timberland Servionss和更强大的经营业绩促成了第三季度的增加。与第三季度相比,国内和出口日志价格上涨稳定。第四季度捐款包括从此前宣布大约115,000英亩的华盛顿州林地的税前收益1.17亿美元。2002年第一季度宣布的华盛顿西方华盛顿西部额外销售额外100,000英亩的Timberlands的购买和销售协议已过期。Weyerhaeuser正在讨论这个财产的潜在销售,包括若干缔约方,包括信托,预计今年才能完成销售。

由于国内和出口日志的价格略微较弱,较低的季度较低,距离第四季度,距离第四季度的第一季度从第四季度降低。

manbetx apk手机版木制品4 Q 2002年3Q 2002年3季度将捐款变为收入(百万)($ 75)($ 18)($ 57)

郁闷的价格和反倾销职责的影响继续影响第四季度木材产品细分。manbetx apk手机版结果还包括一年到逾期减少1300万美元的折旧,该折旧是由威拉米特收购初步购买价格分配调整的折旧。不包括不寻常的物品,包括折旧调整,第四季度亏损为5100万美元,而第三季度亏损1800万美元。

作为公司的一部分,专注于提高其软木木材运营效率,Weyerhaeuser此前宣布关闭三个设施,这将消除3.68亿杆脚板的锯木厂容量和相关的整理业务,当时第一季度关闭。

由于市场上持续超过,第一季度木材产品的盈利前景仍然非常不确定。manbetx apk手机版根据当前价格,公司将期望第一季度木材产品细分市场中的业务亏损与第四季度一致。manbetx apk手机版Weyerhaeuser继续与美国和加拿大政府合作,试图在软木木材问题上制定长期解决方案。该公司认为双方的政府和行业官员正在努力实现解决方案。

2002年3季度纸浆和纸张2002年3Q 2002年3季度将捐款变为收益(百万)$ 86 $ 10 $ 76

第四季度从第三季度起,主要是由于未涂层的Freesheet产品价格上涨,纸浆出货量显着增加,普利茅斯,N.C.,Mill的普利茅斯商业中断成本的保险回收率。然而,这些增加由未涂层的弗雷希什季节性较低的货物部分抵消,并在初步购买价格分配对威利拉米特收购的初步购买价格分配调整后逾期增加1900万美元的折旧。

在调整了第四季度的业绩后,保险公司恢复了4000万美元,预计第一季度的收益将与第四季度持平。无涂层免费纸市场预计将保持稳定,而该公司预计纸浆价格的改善将被出货量的下降所抵消。

纸板,包装和回收2002年第四季度2002年第三季度变化对收入的贡献(百万)$114 $88 $26

增加收益之间的第三和第四季度主要是由于低成本回收纤维用于生产硬纸板,盒子价格上涨和下降今年迄今1400万美元贬值造成的初步购买价格分配调整威拉米特河的收购。部分抵消这些增长的因素有:季节性的纸箱出货量减少、35000吨与市场相关的停工时间以及此前宣布的工厂关闭带来的1400万美元税前费用。

作为公司专注于合理化其集装箱生产的一部分,Weyerhaeuser此前宣布了第四季度在第四季度的鲟鱼瀑布,安大略省,集装箱厂,这将消除大约100,000吨的生产。

由于预期的维护和市场与市场的停机水平更高,第一季度营业收益预计将低于第四季度盈利,目前计划约为14万吨。市场条件预计将保持相对稳定。

房地产及相关资产4 Q 2002年3季度2002年3季度将贡献变为收益(百万美元)$ 81 $ 85(4美元)

第四季度的业绩主要来自单户住宅的销售,而第三季度的收益包括一套公寓综合体的销售带来的1400万美元的收益。第四季度单户住宅销售收入的改善是由于更高的成交量和利润率。

第一季度收益预计将从第四季度保持不变。

其他

养老金基金 - 2002年,韦伊赫队人民在美国和加拿大的合格界定福利计划相关税后公认了1.07亿美元的非现金养老金收入。2003年,Weyerhaeuser预计税前托运后的非现金2000万美元。这种变化是由于金融市场的表现不佳,养老金基金福利的变化,养老基金的未来收益的较低率较低,美国和加拿大的基金负债的折扣率降低,以及假设的变化在以前的养老基金上涨。这些非现金福利和收费将按如下方式分配:

2002年企业部门2003年收入(实际)(估计)Timberlands 6%2%木制品38%61%纸浆和纸张31%33%箱板,包装和回收14%0%房地产和相关资manbetx apk手机版产3%0%公司8%4%总量100%100%

Weyerhaeuser还录制了2002年股东利益的1.1亿美元的股东利益,额外的养老金责任调整,主要与加拿大养老金计划有关。

惠好预计,2003年该公司将不必向其美国养老基金缴纳现金。该公司预计将向其加拿大基金贡献约1,300万美元现金。

债务 - 在第三季度结束时,债务 - 不包括房地产和相关资产的威尔霍夫书公司的总债务,为127亿美元。总债务(包括房地产和相关资产)为136亿美元,而第三季度末为142亿美元。该公司仍然是目标,以实现其债务减少目标。

资本支出——2002年资本支出为9.6亿美元,预计2003年将达到约7.5亿美元。

该公司将于1月22日在1月8日举行会议电话会议(11时11)讨论第四季度业绩。

要访问电话会议,请在北美内部致电侦听者应在电话会议开始前至少15分钟拨打1-888-789-0089。希望从北美外部访问呼叫的人应拨打1-416-695-5259。呼叫完成后,呼叫的重播将可用48小时,可以在北美1-888-509-0082和北美外部1-416-695-9731访问。

也可以通过Weyerhaeuser的互联网网站访问呼叫//www.noirla.com/点击“收听我们的会议”链接。

惠好公司成立于1900年,是世界上最大的综合性林产品公司之一。2002年,销售额为185亿美元。它在18个国家设有办事处或业务,客户遍布全球。惠好主要从事木材的种植和收获;林产品的生产、经销和销售;及房地产建设、开发等相关活动。有关惠好业务、产品和实践的更多信息,请访问//www.noirla.com/

本新闻稿包含有关公司未来业绩和业绩的声明,这些声明是1995年《私人证券诉讼改革法案》意义上的前瞻性声明。可以识别这些前瞻性陈述使用前瞻性的术语如“期望”,“可能”“将”,“相信”“应该”“大约”,预计,“”估计,”和“计划”,这些术语的负面或其他变化或类似的术语或讨论的策略,计划或意图。特别是,其中一些前瞻性陈述涉及Willamette收购的预期协同效应、第一季度公司业务部门的预期盈利和业绩、预期养老金支出和现金贡献、预期债务减少、预计的资本支出和林地销售。这些声明的准确性受到若干风险、不确定性和假设的影响,这些风险、不确定性和假设可能导致实际结果与预测存在重大差异,包括但不限于一般经济状况的影响,包括利率水平和房屋开工率;市场对该公司产品的需求,这可能与美国各业务部门的相对实力有关;公司生产经营业绩;内部绩效计划的成功执行;来自国内外生产商的竞争水平;林业、土地利用、环境和其他政府法规的影响; fires, floods and other natural disasters; the company's ability to successfully integrate and manage acquired businesses and to realize anticipated cost savings and synergies from this acquisition; the ability of acquired businesses to perform in accordance with the company's expectations; legal proceedings; performance of pension fund assets; and uncertainties related to execution of timberland sale agreements. The company is also a large exporter and is affected by changes in economic activity in Europe and Asia, particularly Japan, and by changes in currency exchange rates, particularly the relative value of the U.S. dollar to the Euro and the Canadian dollar; and restrictions on international trade or tariffs imposed on imports, including the countervailing and dumping duties imposed on the company's softwood lumber shipments from Canada to the United States. These and other factors that could cause or contribute to actual results differing materially from such forward looking statements are discussed in greater detail in the company's Securities and Exchange Commission filings.

联系方式:按,Bruce Amundson,+ 1-253-924-3047,或分析师,Kathryn McAuley,+ 1-253-924-2058,Weyerhaeuser公司。

Weyerhaeuser公司统计信息(未经审计)综合收益(a)Q1 Q1 Q2(数百万)3月31日,4月1日,2002年7月1日,2002年7月1日2001 2001 2001年2001年净销售和收入:Weyerhaeuser(B)$ 3,595 $ 3,219 $ 4,501 $ 3,471房地产和相关资产396 334 421 371总净销售和收入3,991 3,553 4,922 3,842费用和费用:Weyerhaeuser:产品的成本已售出2,831 2,492 3,519 2,644折旧,摊销和费用粗折叠©264 211 311 214销售费用103 91 116 100一般和行政费用186 171 231 182研究和开发费用12 13 13 13薪资和所得税以外的税款38 37 53 38其他运营成本(收入)净净(D)(e)(e)(e)(e)(e)4 32(27)21次融入设施的费用2 9 23封闭设施的收费(g)(h)27  -  28  -  3,467 3,056 4,267 3,223房地产和相关资产:成本和运营费用291 243 317 280折旧和摊销2 1 1 2销售费用21 1924 19一般和管理员助长费用10 13 11 13税收和所得税以外的税收1 2 1 1其他运营成本,净(8)(1)2(1)317 277 356 314总成本和费用3,784 3,333 4,623 3,537营业收入207 220 299 305利息费用和其他:Weyerhaeuser:息息费用(i)(i)(178)(88)(222)(87)较少利息,资本资本资本化4 4 16股权(4)15(2)15(2)15次利息收入等5 6 6 4房地产和相关资产:利息费用(13)(19)(13)(18)利息资本化1313 17未核化实体收入的权益6 14 6 3 3 1利息收入和其他6个8 3税收税前46 170 111 248所得税(j)(16)(16)(63)(39)(77)净收入$ 30 $ 107 $ 72 $ 71每股:基本净盈利$ 0.14 $ 0.49 $ 0.32 $ 0.78摊薄净收入$ 0.14 $ 0.49 $ 0.78 $ 0.78股息支付$ 0.40 $ 0.40 $ 0.40 $ 0.40 WEYERHAEUR公司统计信息(未经审核)综合收益(a)Q3 Q4(数百万)9月29日, Sept. 30, Dec. 29, Dec. 30, 2002 2001 2002 2001 Net sales and revenues: Weyerhaeuser (B) $4,422 $3,360 $4,253 $3,034 Real estate and related assets 468 392 465 364 Total net sales and revenues 4,890 3,752 4,718 3,398 Costs and expenses: Weyerhaeuser: Costs of products sold 3,576 2,659 3,285 2,488 Depreciation, amortization and fee stumpage © 304 223 335 221 Selling expenses 116 95 115 94 General and administrative expenses 201 148 229 162 Research and development expenses 11 11 16 17 Taxes other than payroll and income taxes 48 38 39 35 Other operating costs (income), net (D) (E) (F) 19 24 (135) (9) Charges for integration of facilities 17 4 30 (2) Charges for closure of facilities (G) (H) -- 32 40 32 4,292 3,234 3,954 3,038 Real estate and related assets: Costs and operating expenses 359 301 359 284 Depreciation and amortization 1 2 7 2 Selling expenses 23 23 22 20 General and administrative expenses 14 4 13 12 Taxes other than payroll and income taxes 1 1 1 1 Other operating costs, net 6 (2) (1) (2) 404 329 401 317 Total costs and expenses 4,696 3,563 4,355 3,355 Operating income 194 189 363 43 Interest expense and other: Weyerhaeuser: Interest expense incurred (I) (214) (93) (207) (90) Less interest capitalized 16 6 14 3 Equity in income (loss) of affiliates (6) 5 (1) (2) Interest income and other 9 4 8 9 Real estate and related assets: Interest expense incurred (12) (17) (15) (14) Less interest capitalized 12 16 15 14 Equity in income of unconsolidated entities 10 4 9 6 Interest income and other 11 8 8 7 Earnings before income taxes 20 122 194 (24) Income taxes (J) (7) (31) (68) 9 Net earnings $13 $91 $126 $(15) Per share: Basic net earnings $0.06 $0.41 $0.57 ($0.07) Diluted net earnings $0.06 $0.41 $0.57 ($0.07) Dividends paid $0.40 $0.40 $0.40 $0.40 WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) CONSOLIDATED EARNINGS (A) Year ended (in millions) Dec. 29, Dec. 30, 2002 2001 Net sales and revenues: Weyerhaeuser (B) $16,771 $13,084 Real estate and related assets 1,750 1,461 Total net sales and revenues 18,521 14,545 Costs and expenses: Weyerhaeuser: Costs of products sold 13,211 10,283 Depreciation, amortization and fee stumpage © 1,214 869 Selling expenses 450 380 General and administrative expenses 847 663 Research and development expenses 52 55 Taxes other than payroll and income taxes 178 148 Other operating costs (income), net (D) (E) (F) (139) 68 Charges for integration of facilities 72 21 Charges for closure of facilities (G) (H) 95 64 15,980 12,551 Real estate and related assets: Costs and operating expenses 1,326 1,108 Depreciation and amortization 11 7 Selling expenses 90 81 General and administrative expenses 48 42 Taxes other than payroll and income taxes 4 5 Other operating costs, net (1) (6) 1,478 1,237 Total costs and expenses 17,458 13,788 Operating income 1,063 757 Interest expense and other: Weyerhaeuser: Interest expense incurred (I) (821) (358) Less interest capitalized 50 19 Equity in income (loss) of affiliates (13) 33 Interest income and other 28 23 Real estate and related assets: Interest expense incurred (53) (68) Less interest capitalized 53 63 Equity in income of unconsolidated entities 31 27 Interest income and other 33 20 Earnings before income taxes 371 516 Income taxes (J) (130) (162) Net earnings $241 $354 Per share: Basic net earnings $1.09 $1.61 Diluted net earnings $1.09 $1.61 Dividends paid $1.60 $1.60 (A) Certain reclassifications have been made to conform prior periods' data with the current presentation. (B) 2002 first quarter includes $13 million of charges for countervailing and anti-dumping duties and related costs and a credit of $18 million for the reversal of countervailing and anti-dumping duties accrued in 2001. The 2002 second quarter includes $7 million of charges for countervailing and anti-dumping duties and related costs, a credit of $29 million for the reversal of charges accrued in 2001 and a credit of $13 million for charges accrued in the first quarter of 2002. The 2002 third quarter includes charges of $31 million and the 2002 fourth quarter includes charges of $26 million for countervailing and anti-dumping duties and related costs. The year-to-date impact from countervailing and anti-dumping duties and related costs is a net charge of $17 million, including current year charges of $64 million, net of $47 million of credits related to the reversal of charges accrued in 2001. 2001 includes charges for countervailing and anti-dumping duties and related costs of $30 million and $20 million in the third and fourth quarters respectively. © 2001 includes $35 million of goodwill amortization through December. Goodwill amortization ceased as of the beginning of 2002. (D) 2002 includes $33 million in net foreign exchange gains. Gains of $8 million and $27 million are included in the first and second quarters, respectively. A loss of $16 million is included in the third quarter and a gain of $14 million is included in the fourth quarter. Net foreign exchange losses through the fourth quarter of 2001 were $12 million. (E) 2002 fourth quarter includes a $117 million gain on the sale of timberlands in Washington state. (F) 2001 costs include $10 million for costs associated with Westwood Shipping Line's transition to a new charter fleet, one-time costs of $41 million associated with information systems outsourcing and $21 million of additional costs to streamline and improve delivery of internal support services. 2001 fourth quarter also includes an $8 million benefit related to recovery of hardboard siding claims. (G) 2002 includes $27 million for first quarter costs associated with the closure of three facilities, $28 million for second quarter costs associated with the closure, or impending closure, of four additional facilities and $40 million for fourth quarter costs associated with the closure of three additional facilities, the outsourcing of Canadian logging operations and adjustments to prior closure costs. (H) 2001 includes $32 million for third quarter costs associated with machine closures at Springfield, Ore., and Longview, Wash. and $32 million for fourth quarter charges associated with the closure of three North American wood products facilities. (I) 2002 first quarter includes a $35 million charge to write off debt issue costs in connection with the refinancing of debt in connection with the acquisition of Willamette Industries. (J) 2001 year-to-date includes $29 million in benefits reflecting one-time reductions in deferred taxes. This includes a $14 million benefit due to a lower British Columbia provincial corporate tax rate that was enacted during the third quarter and a $15 million benefit due to a lower Canadian corporate tax rate that was enacted during the second quarter. WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Net sales and revenues (in millions): Q1 Q2 March 31, April 1, June 30, July 1, 2002 2001 2002 2001 Timberlands: Raw materials (logs, timber and chips) $144 $175 $186 $155 Other products 44 37 49 39 188 212 235 194 Wood products: Softwood lumber 692 605 901 783 Softwood plywood and veneer 135 102 173 125 Oriented strand board, composite and other panels 240 159 320 195 Hardwood lumber 76 78 81 75 Engineered lumber products 253 218 315 309 Raw materials (logs, timber and chips) 106 112 129 118 Other products 199 165 228 205 1,701 1,439 2,147 1,810 Pulp and Paper: Pulp 280 321 297 277 Paper 416 287 563 246 Coated groundwood 30 35 30 35 Bleached paperboard 40 50 51 45 Other products 6 18 10 6 772 711 951 609 Containerboard, Packaging and Recycling: Containerboard 73 92 90 87 Packaging 731 618 899 634 Recycling 48 63 51 57 Other products 47 43 90 39 899 816 1,130 817 Real estate and related assets 396 334 421 371 Corporate and other 35 41 38 41 $3,991 $3,553 $4,922 $3,842 Earnings before interest expense and income taxes (A) Q1 Q2 (in millions) March 31, April 1, June 30, July 1, 2002 2001 2002 2001 Timberlands (B) $119 $134 $175 $137 Wood products © (D) (E) 9 (26) 64 102 Pulp and Paper (F) (G) 1 73 (15) 27 Containerboard Packaging and Recycling (H) (I) 58 94 75 68 Real estate and related assets (J) 91 69 79 62 Corporate and other (K) (L) (M) (58) (90) (61) (67) $220 $254 $317 $329 WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Net sales and revenues (in millions): Q3 Q4 Sept. 29, Sept. 30, Dec. 29, Dec. 30, 2002 2001 2002 2001 Timberlands: Raw materials (logs, timber and chips) $196 $140 $256 $147 Other products 138 44 107 48 334 184 363 195 Wood products: Softwood lumber 845 743 748 620 Softwood plywood and veneer 169 124 157 105 Oriented strand board, composite and other panels 217 210 251 177 Hardwood lumber 72 70 77 69 Engineered lumber products 324 299 256 244 Raw materials (logs, timber and chips) 120 107 117 96 Other products 210 198 181 182 1,957 1,751 1,787 1,493 Pulp and Paper: Pulp 300 261 319 275 Paper 590 266 594 238 Coated groundwood 32 45 34 33 Bleached paperboard 37 55 51 48 Other products 8 10 10 8 967 637 1,008 602 Containerboard, Packaging and Recycling: Containerboard 101 88 86 79 Packaging 877 588 831 545 Recycling 67 43 63 49 Other products 82 36 76 35 1,127 755 1,056 708 Real estate and related assets 468 392 465 364 Corporate and other 37 33 39 36 $4,890 $3,752 $4,718 $3,398 Earnings before interest expense and income taxes (A) Q3 Q4 (in millions) Sept. 29, Sept. 30, Dec. 29, Dec. 30, 2002 2001 2002 2001 Timberlands (B) $138 $107 $318 $109 Wood products © (D) (E) (18) 47 (75) (107) Pulp and Paper (F) (G) 10 (28) 86 (3) Containerboard Packaging and Recycling (H) (I) 88 69 114 59 Real estate and related assets (J) 85 75 81 58 Corporate and other (K) (L) (M) (85) (61) (137) (54) $218 $209 $387 $62 WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Net sales and revenues (in millions): Year ended Dec. 29, Dec. 30, 2002 2001 Timberlands: Raw materials (logs, timber and chips) $782 $617 Other products 338 168 1,120 785 Wood products: Softwood lumber 3,186 2,751 Softwood plywood and veneer 634 456 Oriented strand board, composite and other panels 1,028 741 Hardwood lumber 306 292 Engineered lumber products 1,148 1,070 Raw materials (logs, timber and chips) 472 433 Other products 818 750 7,592 6,493 Pulp and Paper: Pulp 1,196 1,134 Paper 2,163 1,037 Coated groundwood 126 148 Bleached paperboard 179 198 Other products 34 42 3,698 2,559 Containerboard, Packaging and Recycling: Containerboard 350 346 Packaging 3,338 2,385 Recycling 229 212 Other products 295 153 4,212 3,096 Real estate and related assets 1,750 1,461 Corporate and other 149 151 $18,521 $14,545 Earnings before interest expense and income taxes (A) Year ended (in millions) Dec. 29, Dec. 30, 2002 2001 Timberlands (B) $750 $487 Wood products © (D) (E) (20) 16 Pulp and Paper (F) (G) 82 69 Containerboard Packaging and Recycling (H) (I) 335 290 Real estate and related assets (J) 336 264 Corporate and other (K) (L) (M) (341) (272) $1,142 $854 (A) Certain reclassifications have been made to conform prior periods' data with the current presentation. (B) 2002 fourth quarter includes a $117 million gain on the sale of timberlands in Washington state. © 2002 first quarter includes $13 million of charges for countervailing and anti-dumping duties and related costs and a credit of $18 million for the reversal of countervailing and anti-dumping duties accrued in 2001. The 2002 second quarter includes $7 million of charges for countervailing and anti-dumping duties and related costs, a credit of $29 million for the reversal of charges accrued in 2001 and a credit of $13 million for charges accrued in the first quarter of 2002. The 2002 third quarter includes charges of $31 million and the 2002 fourth quarter includes charges of $26 million for countervailing and anti-dumping duties and related costs. The year-to-date impact from countervailing and anti-dumping duties and related costs is a net charge of $17 million, including current year charges of $64 million, net of $47 million of credits related to the reversal of charges accrued in 2001. 2001 includes charges for countervailing and anti-dumping duties and related costs of $30 million and $20 million in the third and fourth quarters respectively. (D) 2002 includes $17 million in first quarter costs associated with the permanent closure of an oriented strand board facility in Canada and $34 million in fourth quarter charges associated with the closure of two additional wood products facilities and the outsourcing of Canadian logging operations. (E) 2001 includes $32 million for fourth quarter charges associated with the closure of three North American wood products facilities. (F) 2002 year-to-date includes $12 million in net business disruption costs associated with the recovery boiler explosion at the Plymouth, N.C., paper facility. Costs of $22 million and $30 million are included in the second and third quarters, respectively. Net recoveries of $40 million are included in the fourth quarter. (G) 2001 results include $19 million of third quarter costs associated with a machine closure at Longview, Wash. 2002 fourth quarter results include an $8 million benefit resulting from adjustments to these 2001 closure charges. (H) 2002 year-to-date results include $52 million in costs associated with the closure, or impending closure of seven facilities, including $10 million of first quarter costs, $28 million of second quarter costs and $14 million of fourth quarter costs. (I) 2001 results include $13 million of third quarter costs associated with a machine closure at Springfield, Ore. (J) 2002 includes $21 million in gains from sales of apartment complexes, including $7 million in the second quarter and $14 million in the third quarter. (K) 2002 results include a $35 million charge in the fourth quarter for the termination of the former MacMillan Bloedel pension plan for U.S. employees. (L) 2002 results for corporate and other include net foreign exchange gains (losses) of $20 million in the second quarter, ($17 million) in the third quarter and $1 million in the fourth quarter, for a year-to-date net gain of $4 million. These gains and losses result primarily from fluctuations in Canadian exchange rates. 2001 results for corporate and other include net foreign exchange gains (losses) of ($2 million) in the first quarter, $7 million in the second quarter, ($11 million) in the third quarter and ($6 million) in the fourth quarter, for a year-to-date net loss of $12 million, resulting primarily from fluctuations in Canadian exchange rates. (M) 2001 year-to-date costs include one-time costs of $41 million associated with information systems outsourcing, $21 million of additional costs to streamline and improve delivery of internal support services and includes $10 million incurred in the second quarter for costs associated with Westwood Shipping Line's transition to a new charter fleet. WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Third party sales volumes: Q1 Q2 March 31, April 1, June 30, July 1, 2002 2001 2002 2001 Timberlands (millions): Raw materials - cubic feet 71 82 105 75 Wood products (millions): Softwood lumber - board feet 1,812 1,667 2,295 1,792 Softwood plywood and veneer - square feet (3/8") 575 449 750 491 Composite panels - square feet (3/4") 308 63 445 59 Oriented strand board - square feet (3/8") 945 871 1,095 916 Hardwood lumber - board feet 108 106 113 106 Raw materials - cubic feet 143 163 164 150 Pulp and paper (thousands): Pulp - air-dry metric tons 563 480 618 507 Paper - tons 546 348 717 307 Coated groundwood - tons 48 45 49 48 Bleached paperboard - tons 53 60 61 56 Containerboard, packaging and recycling (thousands) Containerboard - tons 209 218 260 222 Packaging - MSF 14,540 12,690 18,446 11,856 Recycling - tons 604 826 552 817 Total production volumes: Q1 Q2 March 31, April 1, June 30, July 1, 2002 2001 2002 2001 Timberlands (millions): Logs - cubic feet 153 132 191 131 Wood products (millions): Softwood lumber - board feet 1,530 1,406 1,702 1,422 Softwood plywood and veneer - square feet (3/8") 431 285 562 278 Composite panels - square feet (3/4") 218 29 183 25 Oriented strand board - square feet (3/8") 957 783 944 833 Hardwood lumber - board feet 96 111 99 109 Logs - cubic feet 185 174 187 137 Pulp and paper (thousands): Pulp - air-dry metric tons 607 549 492 448 Paper - tons 510 345 667 289 Coated groundwood - tons 48 55 60 50 Paperboard - tons 63 52 67 61 Containerboard, packaging and recycling (thousands) Containerboard - tons 1,250 875 1,600 776 Packaging - MSF 16,281 13,355 20,630 13,432 Recycling - tons 1,258 1,192 1,286 1,181 WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Third party sales volumes: Q3 Q4 Sept. 29, Sept. 30, Dec. 29, Dec. 30, 2002 2001 2002 2001 Timberlands (millions): Raw materials - cubic feet 97 76 113 68 Wood products (millions): Softwood lumber - board feet 2,362 1,943 2,154 1,801 Softwood plywood and veneer - square feet (3/8") 736 494 625 463 Composite panels - square feet (3/4") 95 61 299 70 Oriented strand board - square feet (3/8") 1,117 964 1,048 987 Hardwood lumber - board feet 104 99 102 102 Raw materials - cubic feet 161 111 127 125 Pulp and paper (thousands): Pulp - air-dry metric tons 561 527 636 599 Paper - tons 749 342 730 304 Coated groundwood - tons 55 64 58 49 Bleached paperboard - tons 47 66 68 61 Containerboard, packaging and recycling (thousands) Containerboard - tons 283 223 231 220 Packaging - MSF 17,902 13,319 16,249 11,668 Recycling - tons 539 548 597 646 Total production volumes: Q3 Q4 Sept. 29, Sept. 30, Dec. 29, Dec. 30, 2002 2001 2002 2001 Timberlands (millions): Logs - cubic feet 164 129 155 125 Wood products (millions): Softwood lumber - board feet 1,728 1,315 1,871 1,192 Softwood plywood and veneer - square feet (3/8") 584 275 701 261 Composite panels - square feet (3/4") 235 21 228 18 Oriented strand board - square feet (3/8") 1,115 912 1,033 915 Hardwood lumber - board feet 107 99 104 91 Logs - cubic feet 204 166 218 171 Pulp and paper (thousands): Pulp - air-dry metric tons 630 553 552 590 Paper - tons 704 300 730 310 Coated groundwood - tons 43 57 59 49 Paperboard - tons 31 69 66 58 Containerboard, packaging and recycling (thousands) Containerboard - tons 1,621 1,065 1,533 983 Packaging - MSF 20,432 13,077 20,563 12,338 Recycling - tons 1,252 1,210 1,288 1,143 WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Third party sales volumes: Year ended Dec. 29, Dec. 30, 2002 2001 Timberlands (millions): Raw materials - cubic feet 386 301 Wood products (millions): Softwood lumber - board feet 8,623 7,203 Softwood plywood and veneer - square feet (3/8") 2,686 1,897 Composite panels - square feet (3/4") 1,147 253 Oriented strand board - square feet (3/8") 4,205 3,738 Hardwood lumber - board feet 427 413 Raw materials - cubic feet 595 549 Pulp and paper (thousands): Pulp - air-dry metric tons 2,378 2,113 Paper - tons 2,742 1,301 Coated groundwood - tons 210 206 Bleached paperboard - tons 229 243 Containerboard, packaging and recycling (thousands) Containerboard - tons 983 883 Packaging - MSF 67,137 49,533 Recycling - tons 2,292 2,837 Total production volumes: Year ended Dec. 29, Dec. 30, 2002 2001 Timberlands (millions): Logs - cubic feet 663 517 Wood products (millions): Softwood lumber - board feet 6,831 5,335 Softwood plywood and veneer - square feet (3/8") 2,278 1,099 Composite panels - square feet (3/4") 864 93 Oriented strand board - square feet (3/8") 4,049 3,443 Hardwood lumber - board feet 406 410 Logs - cubic feet 794 648 Pulp and paper (thousands): Pulp - air-dry metric tons 2,281 2,140 Paper - tons 2,611 1,244 Coated groundwood - tons 210 211 Paperboard - tons 227 240 Containerboard, packaging and recycling (thousands) Containerboard - tons 6,004 3,699 Packaging - MSF 77,906 52,202 Recycling - tons 5,084 4,726 WEYERHAEUSER COMPANY STATISTICAL INFORMATION CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) (in millions) March 31, June 30, Sept. 29, Dec. 29, Dec. 31, Assets 2002 2002 2002 2002 2001 Weyerhaeuser Current assets: Cash and short-term investments $127 $141 $119 $115 $202 Receivables, less allowances 1,599 1,649 1,604 1,413 1,024 Inventories 2,072 2,012 1,951 1,941 1,428 Prepaid expenses 509 550 485 412 407 Total current assets 4,307 4,352 4,159 3,881 3,061 Property and equipment 12,454 12,362 12,235 12,426 8,309 Construction in progress 1,169 1,360 1,338 686 428 Timber and timberlands at cost, less fee stumpage charged to disposals 4,457 4,472 4,436 4,401 1,789 Investments in and advances to equity affiliates 542 547 541 578 541 Goodwill 2,741 2,778 2,812 3,042 1,095 Deferred pension and other assets 1,170 1,239 1,239 1,285 1,053 26,840 27,110 26,760 26,299 16,276 Real estate and related assets 2,078 2,100 2,035 1,970 2,017 Total assets $28,918 $29,210 $28,795 $28,269 $18,293 Liabilities and Shareholders' Interest Weyerhaeuser Current liabilities: Notes payable and commercial paper $260 $110 $231 $2 $4 Current maturities of long-term debt 214 368 791 786 8 Accounts payable 1,072 1,125 1,059 983 809 Accrued liabilities 1,177 1,320 1,189 1,223 1,042 Total current liabilities 2,723 2,923 3,270 2,994 1,863 Long-term debt 12,927 12,779 12,224 11,907 5,095 Deferred income taxes, pension, other postretirement benefits and other liabilities 5,274 5,326 5,307 5,398 3,254 20,924 21,028 20,801 20,299 10,212 Real estate and related assets Notes payable and commercial paper 262 357 80 63 358 Long-term debt 596 576 856 814 620 Other liabilities 451 467 432 472 408 1,309 1,400 1,368 1,349 1,386 Total liabilities 22,233 22,428 22,169 21,648 11,598 Shareholders' interest 6,685 6,782 6,626 6,621 6,695 Total liabilities and shareholders' interest $28,918 $29,210 $28,795 $28,269 $18,293

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