|
|
| |
For
the three-year period ended December 27, 1998
Dollar amounts in millions |
|
|
|
| |
|
|
|
|
|
| |
1998
|
1997
|
1996
|
| Sales
to and revenues from unaffiliated customers: |
|
|
|
| |
Timberlands |
$
636
|
$
797
|
$
867
|
| |
Wood
products |
4,475
|
4,577
|
4,373
|
| |
Pulp,
paper and packaging |
4,312
|
4,609
|
4,648
|
| |
Real
estate and related assets |
1,192
|
1,093
|
1,009
|
| |
Corporate
and other |
151
|
134
|
217
|
| |
|
$
10,766
|
$
11,210
|
$
11,114
|
| |
|
|
|
|
| Intersegment
sales: |
|
|
|
| |
Timberlands |
$
488
|
$
520
|
$
513
|
| |
Wood
products |
184
|
190
|
246
|
| |
Pulp,
paper and packaging |
74
|
95
|
88
|
| |
Corporate
and other |
13
|
35
|
35
|
| |
|
759
|
840
|
882
|
| Total
sales and revenues |
11,525
|
12,050
|
11,996
|
| Intersegment
eliminations |
(759)
|
(840)
|
(882)
|
| |
|
$
10,766
|
$
11,210
|
$
11,114
|
| |
|
|
|
|
| Approximate
contribution (charge) to earnings:(1) |
|
|
|
| |
Timberlands
|
$
487
|
$
535
|
$
503
|
| |
Wood
products |
183
|
172
|
302
|
| |
Pulp,
paper and packaging |
150
|
164
|
307
|
| |
Real
estate and related assets |
124
|
111
|
43
|
| |
Corporate
and other |
(225)
|
(186)
|
(183)
|
| |
|
719
|
796
|
972
|
| Interest
expense(1) |
(324)
|
(341)
|
(338)
|
| Less
capitalized interest |
68
|
84
|
86
|
| Earnings
before income taxes |
463
|
539
|
720
|
| Income
taxes |
(169)
|
(197)
|
(257)
|
| |
|
$
294
|
$
342
|
$
463
|
| |
|
|
|
|
| Depreciation,
amortization and fee stumpage: |
|
|
|
| |
Timberlands
|
$
55
|
$
72
|
$
79
|
| |
Wood
products |
188
|
171
|
148
|
| |
Pulp,
paper and packaging |
348
|
353
|
355
|
| |
Real
estate and related assets |
5
|
12
|
16
|
| |
Corporate
and other |
20
|
20
|
19
|
| |
|
$
616
|
$
628
|
$
617
|
| |
|
|
|
|
| Noncash
charges
for closure or disposition of facilities: |
|
|
|
| |
Wood
products |
$
25
|
$
40
|
--
|
| |
Pulp,
paper and packaging |
$
42
|
$
49
|
--
|
| |
Corporate
and other |
4
|
--
|
--
|
| |
|
$
71
|
$
89
|
--
|
| |
|
|
|
|
| Equity
in income/(loss) from equity affiliates, joint ventures and limited
partnerships |
|
|
|
| |
Timberlands |
$
1
|
$
3
|
--
|
| |
Pulp,
paper and packaging |
27
|
(10)
|
5
|
| |
Real
estate and related assets |
14
|
14
|
5
|
| |
|
$
42
|
$
7
|
$
10
|
| |
|
|
|
|
| Capital
expenditures (including acquisitions): |
|
|
|
| |
Timberlands |
$
87
|
$
75
|
$
505
|
| |
Wood
products |
212
|
240
|
361
|
| |
Pulp,
paper and packaging |
776
|
327
|
415
|
| |
Real
estate and related assets |
2
|
3
|
9
|
| |
Corporate
and other |
32
|
24
|
37
|
| |
|
$
1,109
|
$
669
|
$
1,327
|
| |
|
|
|
|
| Investments
in and advances to equity affiliates, joint ventures and limited partnerships:
|
|
|
|
| |
Timberlands
|
$
218
|
$
216
|
--
|
| |
Pulp,
paper and packaging |
264
|
33
|
35
|
| |
Real
estate and related assets (less reserves) |
120
|
116
|
115
|
| |
|
$
602
|
$
365
|
$
150
|
| |
|
|
|
|
| Assets:
|
|
|
|
| |
Timberlands |
$
1,675
|
$
1,676
|
$
1,578
|
| |
Wood
products |
2,129
|
2,128
|
2,080
|
| |
Pulp,
paper and packaging |
6,346
|
6,589
|
6,721
|
| |
Real
estate and related assets |
1,900
|
2,004
|
2,628
|
| |
Corporate
and other |
1,164
|
1,160
|
1,184
|
| |
|
13,214
|
13,557
|
14,191
|
| Less:
Intersegment eliminations |
(380)
|
(482)
|
(595)
|
| |
|
$
12,834
|
$
13,075
|
$
13,596
|
| |
|
|
|
|
| |
|
|
|
|
| |
Certain reclassifications
have been made to conform prior years' data to the current format.
(1)Interest
expense of $17 million, $40 million and $67 million in 1998, 1997
and 1996, respectively, is included in the determination of "approximate
contribution to earnings" and excluded from "interest
expense" for financial services businesses.
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
|
