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The company
attributes sales to and revenues from unaffiliated customers in different
geographical areas on the basis of the location of the customer.
Export
sales from the United States consist principally of pulp, paperboard,
logs, lumber and wood chips to Japan; containerboard, pulp, lumber and
recycling material to other Pacific Rim countries; and pulp and hardwood
lumber to Europe.
Long-lived assets
consist of timber and timberlands and property and equipment used in the
generation of revenues in the different geographical areas.
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Selected information
related to the company's operations by geographical area is as follows:
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For
the three-year period ended December 27, 1998
Dollar amounts in millions
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1998
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1997
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1996
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Sales
to and revenues from unaffiliated customers: |
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United
States |
$
8,999
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$
8,985
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$
8,676
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Japan(1) |
604
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1,032
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1,320
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Canada
|
514
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510
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473
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Europe |
338
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354
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323
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Other
foreign countries |
311
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329
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322
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$
10,766
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$
11,210
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$
11,114
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Export
sales from the United States: |
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Japan(1) |
$
501
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$
893
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$
1,185
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Other
|
588
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634
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573
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$
1,089
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$
1,527
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$
1,758
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Earnings
before income taxes: |
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United
States |
$
413
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$
432
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$
614
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Foreign
entities |
50
|
107
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106
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$
463
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$
539
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$
720
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Long-lived
assets:
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United
States |
$
6,649
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$
7,426
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$
7,562
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Canada |
1,345
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903
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930
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Other
foreign countries |
26
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12
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5
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$
8,020
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$
8,341
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$
8,497
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(1)1998
export sales to Japan include only one month's sales of newsprint
due to the company's change in ownership of its newsprint subsidiary
from 80 percent to 50 percent in February. |
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Note
20. Selected Quarterly Financial Information (unaudited) |
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Dollar
amounts in millions except per-share figures |
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Net
sales:
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First
Quarter
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Second
Quarter
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Third
Quarter
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Fourth
Quarter
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Year
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1998
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$
2,603
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$2,676
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$2,736
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$2,751
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$
10,766
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1997 |
2,608
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2,909
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2,823
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2,870
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11,210
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Operating
income: |
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1998
|
188
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161
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225
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82
|
656
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1997 |
104
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212
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233
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220
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769
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Earnings
before income taxes: |
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1998 |
135
|
109
|
175
|
44
|
463
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1997 |
33
|
172
|
180
|
154
|
539
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Net
earnings: |
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1998 |
85
|
69
|
110
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30
|
294
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1997 |
21
|
109
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114
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98
|
342
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Net
earnings per common share: |
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Basic
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1998 |
.43
|
.34
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.56
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.15
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1.48
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1997 |
.10
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.56
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.57
|
.49
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1.72
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Diluted
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1998 |
.43
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.34
|
.55
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.15
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1.47
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1997 |
.10
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.55
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.57
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.49
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1.72
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Dividends
per common share: |
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1998 |
.40
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.40
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.40
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.40
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1.60
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1997
|
.40
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.40
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.40
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.40
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1.60
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Market
prices high/low: |
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1998
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5715/16
4415/ 16
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617/16
449 /16
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477/16
363 /4
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519/16
413 /4
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617/16
363 /4
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1997 |
505/8
441/ 2
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551/4
425/8
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6315/16
515/ 8
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603/4
461/ 16
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6315/16
425/ 8
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