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Weyerhaeuser报告了第一季度收益,包括精细造纸业务商誉减值

公司
联邦方式,洗。
2006年4月26日

惠好公司(纽约证券交易所代码:WY)今天公布,2006年第一季度净亏损5.8亿美元,摊薄每股2.36美元,净销售额54亿美元。这包括与该公司优质纸张业务相关的商誉减值。

不包括746,000,000美元的商誉减值,该公司赢得了1.66亿美元,或每次摊薄股份67美分。这与2.39亿美元的净收入相比,或者每股98美分,比去年同期销售额为54亿美元。

本公司亦宣布,作为其此前宣布的战略审查的一部分,它正在考虑其备用纸业的替代方案。替代方案的范围从持续持有并经营资产,以便可能的销售或其他性格。该公司表示,它处于积极讨论与若干缔约方,但没有保证这些讨论将导致协议或导致交易。

该公司董事长、总裁兼首席执行官史蒂文·r·罗格尔(Steven R. Rogel)表示:“这一声明是我们正在进行的战略评估的一个重要里程碑。”“我们仍致力于寻求为股东创造价值的最佳替代方案。”

2006年第一季度的收益包括以下税后项目:o收取7.46亿美元的费用,或摊薄后每股3.03美元,用于与精细造纸业务相关的商誉注销估计金额。该估算代表与该业务相关的全部商誉。该估算正在进行进一步评估,如有必要,将在提交公司的10-Q之前进行调整。o房地产业务收入1200万美元,或摊薄后每股5美分,与保险回收和合伙企业重组相关的递延收入确认有关。o外汇损失费用为1700万美元,或摊薄后每股7美分。o收取1400万美元,或摊薄后每股6美分的股票报酬。公司在第一季度采用了FASB报表123R的规定,即基于股票的薪酬会计准则。2005年第一季度的收益包括以下税后项目:o 800万美元或稀释后每股3美分的费用,与莱纳博德反垄断诉讼的和解有关。o与设施关闭相关的500万美元或摊薄每股2美分的费用。

“在本季度,我们开始在第一季度,在第一季度,我们开始在纤维素纤维,精细纸张,容器板和包装企业的市场条件的改进,”总裁兼首席执行官主席Steven R. Rogel说。“我们认为这一趋势将继续且对我们的第二季度收益产生积极影响。”

第一季度财务亮点数百万(每股数据除外)2006年1季度2005年1季度盈利(亏损)第一季度的结果(税前收入捐款)数百万美元2006年1季度2005年1季度改变Timberlands $ 198 US $ 200($ 2)木制品$ 117 $ 131($ 14)纤维素纤维和白皮书($ 763)$ 19($ 782)CONTEmanbetx apk手机版RBOOK,包装和回收$ 22 $ 22 $ 48($ 26)房地产及相关资产$ 172 $ 183(11美元)Timberlands 1Q 2006年4Q 2005年4Q 2005年税前收入的贡献(百万美元)$ 198 $ 183 $ 15

2005年第一季度盈利略有增加,由于西部地价增加,西部和南部的第一季度运营成本下降,第四季度略有增加。2005年第四季度包括飓风卡特里娜飓风的影响,包括600万美元的税前费用。

惠好预计第二季度的市场状况和收益将与第一季度相似。

manbetx apk手机版木制品2006年第1季度2005年第4季度税前收入变化贡献(百万)$117$26$91

2006年第一季度的收益与2005年第四季度相当,但不包括与2005年第四季度设施关闭相关的9100万美元税前费用。第一季度建筑活动保持健康,价格参差不齐。

定向刨花板的价格略低于2005年第四季度,装运量可比。

木材价格在本季度呈上升趋势。然而,出货量下降了7%。

工程木材产品的价格和装运量与上一季度相当。

木材产品的制造成本每季保持不变,工程产品的制造成本略有下降,主要原因是生产率提高。

该公司在2006年第一季度,加拿大软木木材的反倾销职责和反倾销职责及相关费用,而2005年第四季度,该公司将于2006年第一季度销往美国。

惠好预计,由于建筑活动的季节性增加以及原材料和制造成本的稳定,第二季度的收益将高于第一季度。

纤维素纤维和白皮书2006年第1季度2005年第4季度税前收入的变化贡献(百万)(763美元)(477美元)(286美元)

第一季度包括了7.46亿美元的商誉减值支出。2005年第四季度包括4.27亿美元的关闭相关成本。纸浆业务;阿尔伯特王子,萨斯喀彻温省纸浆和造纸业务;和安大略省德莱顿的造纸机。

扣除这些费用后,第一季度的业绩较2005年第四季度有所改善。

优质纸张和纤维素纤维产品都经历了更强劲的市场环境,价格每季度都在上涨。随着1月份阿尔伯特亲王纸业务的关闭,优质纸的销量略有下降,而纤维素纤维的销量略有改善。生产率的提高和运费的降低被原材料和化学品的增加所抵消。能源成本仍稳定在高位。

Weyerhaeuser预计,尽管年度预定维护季节性增加,但第二季度将显示第二季度的收益。

纸板、包装和回收2006年第1季度至2005年第4季度税前收入的变化贡献(费用)(百万)$22($188)$210

由于硬纸板和包装价格上涨,盈利较第四季度有所改善。包装出货量较第四季度的强劲水平有所下降,但与去年第一季度相比有所上升。2005年第四季度的业绩包括1.3亿美元的工厂关闭税前费用和3800万美元的集装箱板反垄断诉讼和解费用。

该公司预计第二季度这一领域的收益将继续改善。

不动产及相关资产2006年第一季度2005年第四季税前收入变动贡献(百万)$172 $250 ($78)

由于利润率下降和季节性单户住宅关闭减少,第四季度的收益有所下降。与第四季度相比,第一季度关闭的独户住宅数量下降了40%。第一季度业绩包括约3300万美元的土地销售收入和1700万美元的保险回收和合伙企业重组收入。第四季度业绩包括与北加利福尼亚州未改良土地相关的3300万美元税前减值费用。第一季度末已售出但尚未结清的房屋积压量超过了五个月的销售额。这一水平类似于第四季度末的积压工作。

Weyerhaeuser预计,第二季度单户交割活动将增加。然而,由于土地销售减少,预计总房地产和相关收益将比第一季度略有下降。

公司将于上午7点举行现场电话会议。太平洋(上午10点。东航(Eastern)将于4月26日讨论第一季度业绩。

要从北美内部访问电话会议,请在通话前至少15分钟拨打1-888-221- 5699。来自北美外部的人应拨打1-706-643-3795。从北美内部的1-800-642-1687(Access Code-7766499)和1-706-445-9291(访问码 - 7766499)(Access Code - 7766499)提供一周的重播。

该电话正在通过Weyerhaeuser的网站进行网络广播,网址为http://investor.weyerhaeuser.com/点击“2006年第一季度收益电话会议”链接。

该网络广播可通过汤姆森街事件网络向机构投资者和个人投资者提供。个人投资者可以在万博电竞http://www.fulldisclosure.com/,汤姆森/CCBN的个人投资者门户网站,由StreetEvents提供支持。机构投资者可以通过汤姆森的密码保护网站StreetEvents访问该电话(万博电竞http://www.streetevents.com/)。

Weyerhaeuser公司是世界上最大的综合林产品公司之一,于1900年注册成立。2005年,销售额为226亿美元。它在全球客户提供18个国家的办事处或运营。Weyerhaeuser主要从事木材的不断增长和收获;林产品的制造,分销和销售;和房地产建设,发展和相关活动。有关Weyerhaeuser的业务,产品和实践的其他信息//www.noirla.com/

本新闻稿包含有关公司未来业绩和表现的声明,这些声明属于1995年《私人证券诉讼改革法案》所指的前瞻性声明。其中一些前瞻性声明可通过使用前瞻性术语识别,如“预期”、“可能”、“将要”,“相信”、“应该”、“大概”、“预期”、“估计”和“计划”,以及这些术语或类似术语的负面或其他变化,或通过讨论战略、计划或意图。特别是,其中一些前瞻性声明涉及对公司2006年第二季度市场的预期;2006年第二季度公司业务部门的预期收益和业绩,2006年第二季度公司产品的需求和定价,2006年第二季度稳定的原材料和制造成本,2006年第二季度建筑活动的季节性增长,2006年第二季度年度维修中断的季节性增加,2006年第二季度单户住房关闭增加,2006年第二季度土地销售减少,涉及精细纸张业务的交易完成;以及相关事项。此类报表的准确性受制于一些可能导致实际结果与预测结果存在重大差异的风险、不确定性和假设,包括但不限于:

o一般经济状况的影响,包括利率水平和住房率开始;o市场对公司产品的需求,可能与各种美国商业领域的相对实力相关联;o能源价格;o原材料价格;o化学价格;o公司的制造业务的性能,包括意外的维护要求;o成功执行内部绩效计划;o国内外生产商的竞争程度;o林业,土地利用,环境和其他政府法规的影响以及会计法规的变化;o天气的影响; o The risk of loss from fires, floods, windstorms, hurricanes and other natural disasters; o Transportation costs; o Legal proceedings; o The effect of timing of retirements and changes in the market price of company stock on charges for stock-based compensation; and o Performance of pension fund investments and related derivatives.

该公司也是一家大型出口商,受欧洲和亚洲(尤其是日本)经济活动变化、货币汇率变化(尤其是美元对欧元和加元的相对价值)以及国际贸易限制或进口关税的影响,包括对该公司从加拿大运往美国的软木木材征收的反补贴税和反倾销税。这些因素和其他因素可能导致或促成实际结果与此类前瞻性陈述存在重大差异,因此,无法保证前瞻性陈述预期的任何事件会发生,或者如果发生任何此类事件,它们将对公司的经营成果或财务状况产生什么影响。本公司明确拒绝公开修改任何前瞻性声明的义务,这些声明反映了本新闻发布日期后发生的事件。

欲了解更多信息,请联系:媒体 - 布鲁斯阿蒙德森(253)924-3047分析师 - 凯瑟琳·麦考利(253)924-2058 WEYERHAEUSER公司的统计资料(未经审计)综合盈利(百万)Q1,Q2,Q3,Q4,年终___________________ ________ ________ ________ ________月26,3月27日,6月26日,9月25日,12月25日,2006年12月25日2005年2005年2005年2005年2005年_________ _________ ________ ________ ________ ________净销售额和收入:惠好(1)$ 4,686 $ 4,716 $ 5,160 $ 4,986 $ 4,852人$ 19714房地产和相关资产690 655 648 596 1016 2,915总净销售收入5,376 5371 5,808 5582 5,868 22629的成本,费用:惠好:产品成本卖3719 3,621 3947 3912 3980 15,460折旧,折耗及摊销312 323 325 327 332 1307销售费用111 117118 118 108 461管理费用257 222 218 236 223项899研究及开发费用16 14 12 18比工资和所得税其他17个61 44税46 48 6916和179收费整合重组 -  5个4 2 10 21收费的设施封闭件1 5 3 29 656 693减值善意的(2)746  -   -   -   -   - 其他操作成本,净(3)(4)30 9(40)(32)3(60)5236 4362 4635 4679 5345 19021房地产和相关资产:成本和运营支出(5)481 426 441 401 677 1945折旧和摊销3 3 4 4 5 16销售费用37 33 36 36 46 151管理费用30 24 25 27比工资和所得税1 1其它28个104税收 -  1个1个3其它运行成本,净(3) - (2)(2)1(3长期资产)的减值准备 -   -   -   -  33 33 549 487 504 467 791和2249总成本费用5785 4,849 5139 5146 6136 21,270营业收入(409)522 669 436(268)1359利息支出及其他:惠好:发生利息费用(6)(152)(196)(179)(193)(171)(739)减去利息资本16  - 收入2 3 4 9利息收益和其它19 27 20 143 24 214权益(损失)分支机构(7)3  -  4×2(12)(6)房地产和相关资产:利息费用支付(14)(14)(14)(13)(14)(55)减利息资本14 14 14 13 14 55兴趣 income and other 10 5 (2) 4 5 12 Equity in income of unconsolidated entities (8) 21 10 13 14 20 57 Earnings before income taxes (492) 368 527 409 (398) 906 Income taxes (9) (88) (129) (228) (120) 153 (324) Earnings from continuing operations (580) 239 299 289 (245) 582 Earnings from discontinued operations, net of taxes (10) -- -- 121 (4) 34 151 Net earnings $(580) $239 $420 $285 $(211) $733 Basic net earnings per share: Continuing operations $(2.36) $0.98 $1.23 $1.17 $(1.00) $2.38 Discontinued operations -- -- 0.49 (0.01) 0.14 0.62 Net earnings per share $(2.36) $0.98 $1.72 $1.16 $(0.86) $3.00 Diluted net earnings per share: Continuing operations $(2.36) $0.98 $1.22 $1.17 $(1.00) $2.36 Discontinued operations -- -- 0.49 (0.01) 0.14 0.62 Net earnings per share $(2.36) $0.98 $1.71 $1.16 $(0.86) $2.98 Dividends paid per share $0.50 $0.40 $0.50 $0.50 $0.50 $1.90 Weighted average shares outstanding (in thousands) Basic 245,794 242,863 244,702 245,009 245,215 244,447 Diluted 245,794 244,185 245,881 246,190 246,198 245,559 WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) FOOTNOTES TO CONSOLIDATED EARNINGS (in millions) Q1 2006 Q1 2005 Q2 2005 Q3 2005 Q4 2005 YE 2005 (1) Countervailing and anti-dumping duties and related costs per quarter were charges of: $11 $22 $27 $19 $16 $84 (2) The first quarter of 2006 includes the estimated amount of a write-off of goodwill associated with the fine paper business. Q1 2006 Q1 2005 Q2 2005 Q3 2005 Q4 2005 YE 2005 (3) Net foreign exchange gains (losses), primarily from fluctuations in Canadian and New Zealand exchange rates: $(26) $13 $(13) $37 $(21) $ 16 (4) The first quarter of 2005 includes a $12 million charge for the settlement of a linerboard antitrust lawsuit. The second quarter of 2005 includes an $18 million charge related to alder litigation and $57 million of income related to the recognition of a deferred gain from previous timberlands sales. The third quarter of 2005 includes a $115 million gain on the sale of an investment in a joint venture. The fourth quarter of 2005 includes a $38 million charge for the settlement of linerboard antitrust litigation and $43 million of income for the cumulative effect of a change to begin capitalizing Weyerhaeuser interest to assets of Weyerhaeuser Real Estate Company. (5) The first quarter of 2006 includes income of $8 million related to a warranty insurance recovery. (6) The third and fourth quarters of 2005 include charges of $21 million and $15 million, respectively, for the early extinguishment of debt. (7) The fourth quarter of 2005 includes a $15 million charge related to the impairment of an investment in an equity affiliate. (8) The first quarter of 2006 includes recognition of $10 million of deferred income in connection with partnership restructurings. (9) The second quarter of 2005 includes a charge of $44 million related to the repatriation of $1.1 billion of eligible Canadian earnings under the provisions of the American Jobs Creation Act of 2004. The third quarter of 2005 includes a one-time tax benefit of $14 million related to a change in the Ohio state income tax law. (10) Includes the net operating results of the company's coastal British Columbia and French composites operations. The second quarter of 2005 includes a gain of $110 million, including a tax benefit of $46 million, related to the sale of the coastal British Columbia operations. The third quarter of 2005 includes a $1 million charge related to the termination of pension plans associated with these operations. The fourth quarter of 2005 includes a pretax gain of $57 million and related tax expense of $23 million associated with the sale of the French composites operations. WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Net sales and revenues (in millions): Q1 Q2 Q3 Q4 Year End ___________________ ________ ________ ________ ________ March 26, March 27, June 26, Sept. 25, Dec. 25, Dec. 25, 2006 2005 2005 2005 2005 2005 _________ _________ ________ ________ ________ ________ Timberlands: Logs $201 $182 $195 $188 $196 $761 Other products 62 82 63 65 76 286 263 264 258 253 272 1,047 Wood Products: Softwood lumber 782 892 1,032 889 811 3,624 Plywood 135 183 196 184 172 735 Veneer 13 13 10 9 12 44 Composite panels 121 120 132 122 123 497 OSB 287 288 306 267 303 1,164 Hardwood lumber 99 94 102 95 99 390 Engineered I-Joists 183 160 213 202 181 756 Engineered Solid Section 221 190 241 244 221 896 Logs 7 27 24 6 5 62 Other products 225 272 339 326 290 1,227 2,073 2,239 2,595 2,344 2,217 9,395 Cellulose Fiber and White Papers: Pulp 394 376 355 381 370 1,482 Paper 613 599 611 604 603 2,417 Coated groundwood 40 42 47 45 46 180 Liquid packaging board 46 47 52 50 54 203 Other products 14 14 12 16 12 54 1,107 1,078 1,077 1,096 1,085 4,336 Containerboard, Packaging and Recycling: Containerboard 82 117 101 86 91 395 Packaging 911 898 969 929 914 3,710 Recycling 80 92 92 87 81 352 Bags 20 22 21 20 20 83 Other products 34 34 40 47 46 167 1,127 1,163 1,223 1,169 1,152 4,707 Real Estate and Related Assets 690 655 648 596 1,016 2,915 Corporate and Other 116 149 151 146 154 600 Less sales of discontinued operations -- (177) (144) (22) (28) (371) $5,376 $5,371 $5,808 $5,582 $5,868 $22,629 Contribution (charge) to earnings: (in millions) Q1 Q2 Q3 Q4 Year End ___________________ ________ ________ ________ ________ March 26, March 27, June 26, Sept. 25, Dec. 25, Dec. 25, 2006 2005 2005 2005 2005 2005 _________ _________ ________ ________ ________ ________ Timberlands (1)(2)(4) $198 $200 $210 $191 $183 $784 Wood Products (1)(2)(5) 117 131 204 124 26 485 Cellulose Fiber and White Papers (1)(2)(6) (763) 19 16 (2) (477) (444) Containerboard, Packaging and Recycling (1)(2)(7) 22 48 99 36 (188) (5) Real Estate and Related Assets (8) 172 183 156 145 250 734 Corporate and Other (1)(2)(3)(9) (102) (17) 99 101 33 216 $(356) $564 $784 $595 $(173) $1,770 WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) FOOTNOTES TO CONTRIBUTION (CHARGE) TO EARNINGS (in millions) (1) Closure charges by segment: Q1 2006 Q1 2005 Q2 2005 Q3 2005 Q4 2005 YE 2005 Timberlands $-- $ 3 $-- $-- $3 $6 Wood Products -- 1 1 6 91 99 Cellulose Fiber and White Papers (1) -- -- 22 427 449 Containerboard, Packaging and Recycling 2 4 2 1 130 137 Corporate and Other -- -- -- -- 5 5 $1 $8 $3 $29 $656 $696 The above closure charges for the first quarter and full year 2005 include $3 million of costs incurred within the company's discontinued operations. (2) Stock-based compensation charges (income) recognized by segment: Q1 2006 Q1 2005 Q2 2005 Q3 2005 Q4 2005 YE 2005 Timberlands $1 $-- $-- $-- $-- $-- Wood Products 2 -- -- -- -- -- Cellulose Fiber and White Papers 1 -- -- -- -- -- Containerboard, Packaging and Recycling 2 -- -- -- -- -- Corporate and Other 15 2 (6) 3 12 11 $21 $ 2 $(6) $3 $12 $11 Q1 2006 Q1 2005 Q2 2005 Q3 2005 Q4 2005 YE 2005 (3) Net foreign exchange gains (losses) included in Corporate and Other were: $(26) $13 $(12) $38 $(20) $ 19 (4) Additonal Timberlands notes: (a) Hurricane related losses were $5 million in third quarter 2005 and $6 million in fourth quarter 2005. (5) Additonal Wood Products notes: (a) Refer to footnote 1 to Consolidated Earnings regarding countervailing duty and anti-dumping costs included in Wood Products. (b) The second quarter of 2005 includes an $18 million charge related to alder litigation. The third quarter of 2005 includes $9 million of income related to the reduction of reserves for alder litigation and an insurance settlement related to product liability claims. (c) The second quarter of 2005 includes a $6 million gain related to a tenure reallocation agreement with the British Columbia government. (6) Additional Cellulose Fiber and White Papers notes: (a) The first quarter of 2006 includes a charge of $746 million for the estimated amount of a write-off of goodwill associated with the fine paper business. (7) Additional Containerboard, Packaging and Recycling notes: (a) The first and fourth quarters of 2005 include charges of $12 million and $38 million, respectively, associated with the settlement of linerboard antitrust lawsuits. (b) The third quarter of 2005 had a charge of $1 million related to hurricane damage. (8) Additional Real Estate and Related Assets notes: (a) The first quarter of 2006 includes income of $8 million related to a warranty insurance recovery and income of $10 million related to recognition of deferred income in connection with partnership restructurings. (b) The first quarter of 2006 includes net gains on land and lot sales of $33 million. The first, second, third and fourth quarters of 2005 include net gains (losses) on land and lot sales of $57 million, $21 million, ($1) and $2 million, respectively. The fourth quarter of 2005 also includes a $33 million charge for the impairment of unimproved land. (9) Additional Corporate and Other notes: (a) The second quarter of 2005 includes a $64 million pretax gain on the sale of the company's operations in coastal British Columbia and $57 million of income related to the recognition of a deferred gain from previous timberlands sales. The third quarter of 2005 includes a $115 million gain on the sale of an investment in a joint venture. The fourth quarter of 2005 includes a $57 million gain on the sale of the company's French composites operations and $43 million of income for the cumulative effect of a change to begin capitalizing Weyerhaeuser interest to assets of Weyerhaeuser Real Estate Company. (b) The fourth quarter of 2005 includes charges of $15 million related to the impairment of an investment in an equity affiliate. WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Third party sales volumes: Q1 Q2 Q3 Q4 Year End ___________________ ________ ________ ________ ________ March 26, March 27, June 26, Sept. 25, Dec. 25, Dec. 25, 2006 2005 2005 2005 2005 2005 _________ _________ ________ ________ ________ ________ Timberlands (thousands): Logs - cunits 935 864 863 886 939 3,552 Wood Products (millions): Softwood lumber - board feet 1,921 2,057 2,355 2,179 2,059 8,650 Plywood - square feet (3/8") 389 537 600 558 485 2,180 Veneer - square feet (3/8") 61 60 59 51 61 231 Composite panels - square feet (3/4") 302 299 317 308 305 1,229 Oriented strand board - square feet (3/8") 1,000 908 1,041 1,008 991 3,948 Hardwood lumber - board feet 103 102 114 105 106 427 Engineered I- Joists - LF 114 108 138 125 113 484 Engineered Solid Section - CF 9 9 10 10 9 38 Logs - cunits (in thousands) 55 187 177 41 46 451 Cellulose Fiber and White Papers (thousands): Pulp - air-dry metric tons 651 629 587 653 633 2,502 Paper - tons (1) 753 736 742 757 761 2,996 Coated groundwood - tons 52 58 62 56 56 232 Liquid packaging board - tons 56 60 65 64 69 258 Paper converting - tons 511 475 494 494 501 1,964 Containerboard, Packaging and Recycling (thousands): Containerboard - tons 211 295 259 238 254 1,046 Packaging - MSF 18,342 17,354 18,600 18,560 19,117 73,631 Recycling - tons 733 692 695 665 676 2,728 Kraft bags and sacks - tons 20 23 22 22 22 89 Real Estate and Related Assets: Single-family homes sold 1,472 1,378 1,525 1,608 1,174 5,685 Single-family homes closed 1,161 1,189 1,279 1,257 1,922 5,647 Single-family homes sold but not closed at end of period 3,104 2,561 2,807 3,158 2,410 2,410 (1) Paper volume includes unprocessed rolls and converted paper volumes. Total production volumes: Q1 Q2 Q3 Q4 Year End ___________________ ________ ________ ________ ________ March 26, March 27, June 26, Sept. 25, Dec. 25, Dec. 25, 2006 2005 2005 2005 2005 2005 _________ _________ ________ ________ ________ ________ Timberlands (thousands): Fee Depletion - cunits 2,132 2,248 2,231 2,098 2,153 8,730 Wood Products (millions): Softwood lumber - board feet 1,663 1,821 1,869 1,651 1,645 6,986 Plywood - square feet (3/8") 241 303 302 296 254 1,155 Veneer - square feet (3/8") (1) 455 517 529 486 447 1,979 Composite panels - square feet (3/4") 278 267 282 268 263 1,080 Oriented strand board - square feet (3/8") 1,073 1,007 1,019 1,017 1,035 4,078 Hardwood lumber - board feet 82 92 96 91 85 364 Engineered I- Joists - LF 121 133 132 108 110 483 Engineered Solid Section - CF 11 11 10 10 10 41 Cellulose Fiber and White Papers (thousands): Pulp - air-dry metric tons 676 621 614 663 604 2,502 Paper - tons (2) 724 763 752 765 780 3,060 Coated groundwood - tons 56 55 59 60 60 234 Liquid packaging board - tons 61 60 64 69 71 264 Paper converting - tons 498 475 487 483 505 1,950 Containerboard, Packaging and Recycling (thousands): Containerboard - tons (3) 1,575 1,503 1,581 1,597 1,587 6,268 Packaging - MSF 19,550 18,628 19,915 19,416 20,130 78,089 Recycling - tons (4) 1,716 1,624 1,673 1,716 1,730 6,743 Kraft bags and sacks - tons 19 23 22 21 22 88 (1) Veneer production represents lathe production and includes volumes that are further processed into plywood and engineered lumber products by company mills. (2) Paper production includes unprocessed rolls and converted paper volumes. (3) Containerboard production represents machine production and includes volumes that are further processed into packaging and kraft bags and sacks by company facilities. (4) Recycling production includes volumes processed in Weyerhaeuser recycling facilities that are consumed by company facilities and brokered volumes. WEYERHAEUSER COMPANY STATISTICAL INFORMATION CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) (in millions) March 26, Dec. 25, Assets 2006 2005 Weyerhaeuser Current assets: Cash and short-term investments $105 $818 Receivables, less allowances 1,828 1,727 Inventories 2,068 1,917 Prepaid expenses 433 414 Total current assets 4,434 4,876 Property and equipment 10,285 10,510 Construction in progress 648 533 Timber and timberlands at cost, less fee stumpage charged to disposals 3,702 3,705 Investments in and advances to equity affiliates 475 486 Goodwill 2,235 2,982 Deferred pension and other assets 1,284 1,314 Restricted assets held by special purpose entities 914 916 23,977 25,322 Real Estate and Related Assets Cash and short-term investments 39 286 Receivables, less allowances 143 42 Real estate and land for sale and development 2,639 2,092 Other assets 413 357 Assets not owned, consolidated under FIN 46R 170 130 3,404 2,907 Total assets $ 27,381 $28,229 Liabilities and Shareholders' Interest Weyerhaeuser Current liabilities: Notes payable and commercial paper $1 $ 3 Current maturities of long-term debt 699 389 Accounts payable 1,193 1,241 Accrued liabilities 1,253 1,622 Total current liabilities 3,146 3,255 Long-term debt 6,938 7,404 Deferred income taxes 4,001 4,035 Deferred pension, other postretirement benefits and other liabilities 1,651 1,591 Liabilities (nonrecourse to Weyerhaeuser) held by special purpose entities 763 764 16,499 17,049 Real Estate and Related Assets Notes payable and commercial paper 63 3 Long-term debt 878 851 Other liabilities 598 417 Liabilities not owned, consolidated under FIN 46R 114 109 1,653 1,380 Total liabilities 18,152 18,429 Shareholders' interest 9,229 9,800 Total liabilities and shareholders' interest $ 27,381 $28,229 STATEMENT OF CASH FLOWS SELECTED INFORMATION (unaudited) (in millions) Q1 Q2 Q3 Q4 Year End ___________________ ________ ________ ________ ________ March 26, March 27, June 26, Sept. 25, Dec. 25, Dec. 25, 2006 2005 2005 2005 2005 2005 _________ _________ ________ ________ ________ ________ (Weyerhaeuser only, excludes Real Estate & Related Assets) Net cash from operations $(209) $(203) $713 $441 $669 $1,620 Cash paid for property and equipment (182) (117) (196) (220) (310) (843) Cash paid for timberlands reforestation (12) (12) (6) (6) (8) (32) Cash received from issuances of debt -- -- 1 -- -- 1 Revolving credit facilities, notes and commercial paper borrowings, net (68) 19 23 (40) 170 172 Payments on debt (158) (404) (206) (965) (603) (2,178) Proceeds from the sale of operations -- -- 1,107 -- 102 1,209
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