This document is Weyerhaeuser Company's 2007 investor guide. It provides an overview of Weyerhaeuser, including its vision, values, leadership team, and business segments. The guide contains detailed financial data from 2002-2007 as well as market, strategy and operational information for each of Weyerhaeuser's business segments, which include wood products, cellulose fibers, real estate, timberlands, containerboard, packaging and recycling. The guide is intended to provide information to analysts, investors and others researching Weyerhaeuser's long-term financial performance.
public serviceenterprise group library.corporatefinance20
PSEG held an earnings conference call to discuss its fourth quarter and full-year 2008 results. For the fourth quarter, PSEG reported operating earnings of $250 million compared to $272 million in the prior year quarter. For the full year, operating earnings were $1,487 million compared to $1,385 million in 2007. PSEG Power's fourth quarter operating earnings were $207 million, matching the prior year, while PSE&G's were $76 million, down slightly from $77 million in 2007. PSEG provided 2009 operating earnings guidance of $3.00-$3.25 per share.
This document provides financial highlights and operations highlights for Prudential Financial, Inc. for the second quarter of 2008:
- Pre-tax adjusted operating income for the Financial Services Businesses was $1.2 billion, down 11% from the same period in 2007. Net income was $652 million, down 65% from 2007.
- Assets under management totaled $648.4 billion as of June 30, 2008, down slightly from the end of 2007. This included assets managed by the Insurance, Investment, and International Insurance and Investments Divisions.
- Common stock price range for the quarter was $59.74 to $82.21, with a closing price of $59.
Prudential Financial reported financial results for the 4th quarter of 2008. Pre-tax adjusted operating income for the Financial Services Businesses declined 66% year-over-year due to losses across all divisions. Reconciling items, including realized investment losses and changes in experience-rated contractholder liabilities, resulted in a $1.1 billion after-tax loss for the Financial Services Businesses. On a per share basis, adjusted operating income declined to a loss of $2.04 per share, while net loss was $3.85 per share. Book value per common share declined to $33.66 including accumulated other comprehensive income.
Prudential Financial reported financial results for the second quarter of 2006. Some key highlights included:
- Pre-tax adjusted operating income for the Financial Services Businesses was $958 million, up 12% from the same period in 2005.
- Net income for the Financial Services Businesses was $424 million.
- Assets under management and administration totaled $670 billion, up 11% from the second quarter of 2005.
- Individual annuities sales increased to $2.1 billion for the quarter.
- Prudential Financial reported financial results for the fourth quarter and full year 2006.
- For the full year, pre-tax adjusted operating income for the Financial Services Businesses increased 18% to $4.2 billion.
- Earnings per share from continuing operations for the Financial Services Businesses was $6.37 for the full year, up from $6.49 in 2005.
- Prudential Financial reported financial results for the 4th quarter of 2007, including pre-tax adjusted operating income of $950 million for its Financial Services Businesses.
- Assets under management and administration totaled $784 billion as of the end of the 4th quarter, up from $728.9 billion a year earlier.
- International assets under management or administration were $117 billion, down slightly from $123.8 billion a year ago due primarily to foreign exchange fluctuations.
This document provides quarterly financial information for Prudential Financial, Inc. for the second quarter of 2004. Some key highlights include:
- Pre-tax adjusted operating income for the Financial Services Businesses was $638 million for the first half of 2004, up 24% from the same period in 2003.
- Net income for the Financial Services Businesses was $519 million in the second quarter of 2004, up 150% from the second quarter of 2003.
- Assets under management for the Financial Services Businesses totaled $474.2 billion as of June 30, 2004, up 16% from June 30, 2003.
coca cola Reconciliation of Q2 and YTD 2007 Non-GAAP Financial Measuresfinance9
The document provides non-GAAP financial measures for The Coca-Cola Company in addition to its GAAP reported financial results. Management believes the non-GAAP measures allow for more meaningful comparisons of current results to historical periods by excluding certain items that impact overall comparability. The non-GAAP measures are used by management in making financial, operating, and planning decisions to evaluate performance. Tables reconcile the non-GAAP measures to GAAP measures and provide supplemental financial data for quarterly and year-to-date periods, including operating income by segment.
public serviceenterprise group library.corporatefinance20
PSEG held an earnings conference call to discuss its fourth quarter and full-year 2008 results. For the fourth quarter, PSEG reported operating earnings of $250 million compared to $272 million in the prior year quarter. For the full year, operating earnings were $1,487 million compared to $1,385 million in 2007. PSEG Power's fourth quarter operating earnings were $207 million, matching the prior year, while PSE&G's were $76 million, down slightly from $77 million in 2007. PSEG provided 2009 operating earnings guidance of $3.00-$3.25 per share.
This document provides financial highlights and operations highlights for Prudential Financial, Inc. for the second quarter of 2008:
- Pre-tax adjusted operating income for the Financial Services Businesses was $1.2 billion, down 11% from the same period in 2007. Net income was $652 million, down 65% from 2007.
- Assets under management totaled $648.4 billion as of June 30, 2008, down slightly from the end of 2007. This included assets managed by the Insurance, Investment, and International Insurance and Investments Divisions.
- Common stock price range for the quarter was $59.74 to $82.21, with a closing price of $59.
Prudential Financial reported financial results for the 4th quarter of 2008. Pre-tax adjusted operating income for the Financial Services Businesses declined 66% year-over-year due to losses across all divisions. Reconciling items, including realized investment losses and changes in experience-rated contractholder liabilities, resulted in a $1.1 billion after-tax loss for the Financial Services Businesses. On a per share basis, adjusted operating income declined to a loss of $2.04 per share, while net loss was $3.85 per share. Book value per common share declined to $33.66 including accumulated other comprehensive income.
Prudential Financial reported financial results for the second quarter of 2006. Some key highlights included:
- Pre-tax adjusted operating income for the Financial Services Businesses was $958 million, up 12% from the same period in 2005.
- Net income for the Financial Services Businesses was $424 million.
- Assets under management and administration totaled $670 billion, up 11% from the second quarter of 2005.
- Individual annuities sales increased to $2.1 billion for the quarter.
- Prudential Financial reported financial results for the fourth quarter and full year 2006.
- For the full year, pre-tax adjusted operating income for the Financial Services Businesses increased 18% to $4.2 billion.
- Earnings per share from continuing operations for the Financial Services Businesses was $6.37 for the full year, up from $6.49 in 2005.
- Prudential Financial reported financial results for the 4th quarter of 2007, including pre-tax adjusted operating income of $950 million for its Financial Services Businesses.
- Assets under management and administration totaled $784 billion as of the end of the 4th quarter, up from $728.9 billion a year earlier.
- International assets under management or administration were $117 billion, down slightly from $123.8 billion a year ago due primarily to foreign exchange fluctuations.
This document provides quarterly financial information for Prudential Financial, Inc. for the second quarter of 2004. Some key highlights include:
- Pre-tax adjusted operating income for the Financial Services Businesses was $638 million for the first half of 2004, up 24% from the same period in 2003.
- Net income for the Financial Services Businesses was $519 million in the second quarter of 2004, up 150% from the second quarter of 2003.
- Assets under management for the Financial Services Businesses totaled $474.2 billion as of June 30, 2004, up 16% from June 30, 2003.
coca cola Reconciliation of Q2 and YTD 2007 Non-GAAP Financial Measuresfinance9
The document provides non-GAAP financial measures for The Coca-Cola Company in addition to its GAAP reported financial results. Management believes the non-GAAP measures allow for more meaningful comparisons of current results to historical periods by excluding certain items that impact overall comparability. The non-GAAP measures are used by management in making financial, operating, and planning decisions to evaluate performance. Tables reconcile the non-GAAP measures to GAAP measures and provide supplemental financial data for quarterly and year-to-date periods, including operating income by segment.
This document provides quarterly financial information for Prudential Financial, Inc. for the second quarter of 2007.
Some key highlights include:
- Total pre-tax adjusted operating income for the Financial Services Businesses was $1.2 billion for the quarter, a 33% increase from the same period in 2006.
- Total assets under management and administration increased to $648.4 billion for the quarter, up from $586.2 billion in the second quarter of 2006.
- Net income for the Financial Services Businesses was $835 million for the quarter, compared to $1.1 billion for the same period in 2006.
- Prudential Financial's Quarterly Financial Supplement provides financial and operating highlights for the fourth quarter of 2005.
- The document includes information on the company's financial performance, capitalization, assets under management, and sales results across its Insurance, Investment Management, and International divisions.
- Specifically, it shows that Prudential's pre-tax adjusted operating income increased 41% year-over-year in 2005, with growth across all divisions, while assets under management and administration reached $624 billion.
This document provides financial highlights and operating highlights for Prudential Financial, Inc. for the first quarter of 2008 compared to the same period in 2007. Some key details include:
- Pre-tax adjusted operating income for the Financial Services Businesses was $992 million, down 19% from $1,221 million in the prior year period.
- Net income for the Financial Services Businesses was $77 million, down 92% from $1,025 million in the first quarter of 2007.
- Assets under management and administration totaled $1.2 trillion as of March 31, 2008, up slightly from $1.1 trillion at the end of 2007.
Prudential Financial filed a quarterly financial supplement for the third quarter of 2008. The supplement provided unaudited financial information on Prudential's financial services businesses, including results of operations and balance sheet data for its insurance, investment management, and international divisions. It also contained key operating metrics and investment portfolio details. The document established context for Prudential's SEC filings and provided additional details on recent performance of its various business segments.
Prudential Financial, Inc. released its quarterly financial supplement for the first quarter of 2005. Some key highlights include:
- Total revenues for Financial Services Businesses were $10.1 billion for the first quarter of 2005.
- Net income available to common shareholders was $1 billion, or $1.86 per share, for the first quarter of 2005.
- Total assets under management were $577 billion as of March 31, 2005, an increase of $18 billion from December 31, 2004.
This annual report summarizes MeadWestvaco Corporation's financial highlights for 2004. Some key points:
- Net sales increased to $8.227 billion from $7.553 billion the previous year
- Net income decreased to a loss of $349 million from a profit of $18 million due to one-time charges
- Excluding one-time items, net income increased to $147 million from $6 million the previous year
- The company improved operating profits and cash flow through executing its strategic vision focused on its three core businesses
- Prudential Financial reported its financial results for the first quarter of 2007, including revenues, expenses, income, assets under management, and other key metrics.
- Some highlights included pre-tax adjusted operating income of $1.23 billion for the financial services businesses, up 30% from the prior year. Assets under management totaled $629.8 billion, an increase from $547.4 billion in the prior year.
- Earnings per share on an adjusted operating income basis were $1.85, up from $1.36 in the previous year.
- Prudential Financial, Inc. released its Quarterly Financial Supplement for the fourth quarter of 2001.
- The supplement provides financial and operating highlights for Prudential's Financial Services Businesses, including revenues, expenses, sales results, assets under management, capitalization data and more for the quarter and year-to-date.
- It presents performance by division and includes information on common stock prices, distribution channels, third party sales and other key metrics.
This document provides quarterly financial information for Prudential Financial, Inc. for the first quarter of 2004, including:
- Financial highlights such as pre-tax operating income of $549 million, net income of $290 million, and earnings per share of $0.57.
- Operations highlights such as total assets under management of $453.6 billion and distribution representatives of over 4,000 agents and advisors.
- Financial statements and supplementary information for the Insurance, Investment, and International Insurance divisions.
U.S. Steel Third Quarter Earnings Releasefinance15
United States Steel Corporation reported record results for the third quarter of 2008 with net income of $919 million, up significantly from $668 million in the previous quarter and $269 million in the third quarter of 2007. Segment income from operations was $1,461 million, higher than the $959 million reported last quarter, driven by strong performance in the Flat-rolled and Tubular segments. However, the company expects earnings to decline in the fourth quarter due to softening demand and lower prices.
weyerhaeuser New York Analyst Meeting Presentationfinance15
The document summarizes the proceedings of Weyerhaeuser Company's annual analyst conference held on June 1, 2007 in New York. The agenda included opening remarks from the CEO and presentations on strategic direction, industry outlook, various business units, and financial priorities. Key topics discussed were the housing market outlook, legislative tax reform proposals, business strategies for timberlands, cellulose fibers, containerboard and other units, and maintaining financial discipline.
KeyBanc Capital Markets Basic Materials and Packaging Conferencefinance15
This document provides an overview and summary of United States Steel Corporation's operations presented at a conference in September 2008. It discusses USSC's goal of growing responsibly while generating returns. It summarizes USSC's production capabilities, acquisition of Stelco, synergies from the Stelco acquisition, overview of its flat-rolled, European, tubular, and Canadian segments. It also discusses industry trends, the improving steel industry outlook, and being bullish on North America.
CHS Corporate Governance and Nominating Committeefinance15
The document outlines the charter of the Corporate Governance and Nominating Committee of Chico's FAS, Inc. The committee is responsible for corporate governance policies, identifying and recruiting director candidates, and overseeing board evaluations. It must be comprised of at least three independent directors elected to one-year terms. The committee determines needed backgrounds for directors, nominates candidates, and recommends board committee memberships and chairs. It oversees annual performance evaluations of the board and committees.
This document is KBR's 2007 Annual Report. It discusses KBR's transition to becoming an independent company after separating from Halliburton and positioning itself for growth across broader markets. It summarizes KBR's performance in 2007, including record financial results and growth in backlog from energy and chemicals customers. It also provides an overview of KBR's six business units and their strategies for future growth in their respective markets.
This document is KBR's 2007 Annual Report. It discusses KBR's positioning for growth after separating from Halliburton. Key points include:
- KBR restructured into six business units to better serve customers and capture market opportunities. The business units are seeing success with new contract awards.
- KBR delivered record financial performance in 2007 while also transitioning to an independent company and positioning itself for future growth. Income increased 177% and net income set an all-time record.
- Moving forward, KBR aims to leverage its expertise and capabilities to strengthen customer relationships, continue improving risk management, and create shareholder value through stable, predictable growth across its business units.
The Timken Company maintained profitability in 1999 despite weaknesses in many markets. The company achieved its third highest sales ever and reduced inventory days for the third consecutive year. Looking ahead, Timken is transforming its organization into a more global business with new leadership and a broader product portfolio to fuel growth and take advantage of improving business conditions in 2000.
This document provides an overview and discussion of GO Financial's operating results for 2004. Some key points:
- Net sales reached a record $4.2 billion in 2004, an increase of 11% over 2003, driven by both acquisitions and organic growth.
- Operating income grew 11% in 2004 compared to 2003, while net income per share grew 12% to $1.19.
- The company expects continued growth in 2005 through strategic acquisitions, leveraging investments in sales and service, and seeking new growth avenues. However, rising costs may pose challenges.
- Critical accounting policies requiring estimates include revenue recognition, allowances, actuarially determined liabilities, and income taxes
Annnual report JSC IDGC of Center and Volga Region 2011Walker_Ol
The annual report summarizes the activities of JSC IDGC of Center and Volga Region for 2011. It discusses the company's business operations, financial performance, investment activities, interaction with stakeholders, and corporate governance. Some key highlights include achieving energy transmission targets for the year, implementing investment projects to modernize infrastructure and increase capacity, maintaining reliability of the grid, pursuing energy efficiency initiatives, and engaging with shareholders and local communities. The report also provides details on the company's management structure, board of directors, financial results, and adherence to quality and environmental standards.
The document is Lockheed Martin's 1995 Annual Report. It summarizes the company's strong financial and operational performance in its first year after merging with Martin Marietta. Key points include record net earnings of $1.12 billion, excluding merger charges, and meeting over 96% of major program milestones. Lockheed Martin also captured over 60% of competitive bids pursued and maintained a $41 billion backlog. The report highlights the company positioning itself as a total systems provider across various sectors.
This document summarizes the annual report of NCR Corporation for the year 2001. It discusses the performance of NCR's main business divisions: Teradata Data Warehousing, Financial Self Service, Retail Store Automation, and Worldwide Customer Services. It notes that while revenue growth targets were not met due to economic challenges, costs were reduced and each business is better positioned for future growth. The letter emphasizes ongoing efforts to improve profitability through lower product costs, reduced expenses, and achieving operational excellence across all solutions.
This document provides quarterly financial information for Prudential Financial, Inc. for the second quarter of 2007.
Some key highlights include:
- Total pre-tax adjusted operating income for the Financial Services Businesses was $1.2 billion for the quarter, a 33% increase from the same period in 2006.
- Total assets under management and administration increased to $648.4 billion for the quarter, up from $586.2 billion in the second quarter of 2006.
- Net income for the Financial Services Businesses was $835 million for the quarter, compared to $1.1 billion for the same period in 2006.
- Prudential Financial's Quarterly Financial Supplement provides financial and operating highlights for the fourth quarter of 2005.
- The document includes information on the company's financial performance, capitalization, assets under management, and sales results across its Insurance, Investment Management, and International divisions.
- Specifically, it shows that Prudential's pre-tax adjusted operating income increased 41% year-over-year in 2005, with growth across all divisions, while assets under management and administration reached $624 billion.
This document provides financial highlights and operating highlights for Prudential Financial, Inc. for the first quarter of 2008 compared to the same period in 2007. Some key details include:
- Pre-tax adjusted operating income for the Financial Services Businesses was $992 million, down 19% from $1,221 million in the prior year period.
- Net income for the Financial Services Businesses was $77 million, down 92% from $1,025 million in the first quarter of 2007.
- Assets under management and administration totaled $1.2 trillion as of March 31, 2008, up slightly from $1.1 trillion at the end of 2007.
Prudential Financial filed a quarterly financial supplement for the third quarter of 2008. The supplement provided unaudited financial information on Prudential's financial services businesses, including results of operations and balance sheet data for its insurance, investment management, and international divisions. It also contained key operating metrics and investment portfolio details. The document established context for Prudential's SEC filings and provided additional details on recent performance of its various business segments.
Prudential Financial, Inc. released its quarterly financial supplement for the first quarter of 2005. Some key highlights include:
- Total revenues for Financial Services Businesses were $10.1 billion for the first quarter of 2005.
- Net income available to common shareholders was $1 billion, or $1.86 per share, for the first quarter of 2005.
- Total assets under management were $577 billion as of March 31, 2005, an increase of $18 billion from December 31, 2004.
This annual report summarizes MeadWestvaco Corporation's financial highlights for 2004. Some key points:
- Net sales increased to $8.227 billion from $7.553 billion the previous year
- Net income decreased to a loss of $349 million from a profit of $18 million due to one-time charges
- Excluding one-time items, net income increased to $147 million from $6 million the previous year
- The company improved operating profits and cash flow through executing its strategic vision focused on its three core businesses
- Prudential Financial reported its financial results for the first quarter of 2007, including revenues, expenses, income, assets under management, and other key metrics.
- Some highlights included pre-tax adjusted operating income of $1.23 billion for the financial services businesses, up 30% from the prior year. Assets under management totaled $629.8 billion, an increase from $547.4 billion in the prior year.
- Earnings per share on an adjusted operating income basis were $1.85, up from $1.36 in the previous year.
- Prudential Financial, Inc. released its Quarterly Financial Supplement for the fourth quarter of 2001.
- The supplement provides financial and operating highlights for Prudential's Financial Services Businesses, including revenues, expenses, sales results, assets under management, capitalization data and more for the quarter and year-to-date.
- It presents performance by division and includes information on common stock prices, distribution channels, third party sales and other key metrics.
This document provides quarterly financial information for Prudential Financial, Inc. for the first quarter of 2004, including:
- Financial highlights such as pre-tax operating income of $549 million, net income of $290 million, and earnings per share of $0.57.
- Operations highlights such as total assets under management of $453.6 billion and distribution representatives of over 4,000 agents and advisors.
- Financial statements and supplementary information for the Insurance, Investment, and International Insurance divisions.
U.S. Steel Third Quarter Earnings Releasefinance15
United States Steel Corporation reported record results for the third quarter of 2008 with net income of $919 million, up significantly from $668 million in the previous quarter and $269 million in the third quarter of 2007. Segment income from operations was $1,461 million, higher than the $959 million reported last quarter, driven by strong performance in the Flat-rolled and Tubular segments. However, the company expects earnings to decline in the fourth quarter due to softening demand and lower prices.
weyerhaeuser New York Analyst Meeting Presentationfinance15
The document summarizes the proceedings of Weyerhaeuser Company's annual analyst conference held on June 1, 2007 in New York. The agenda included opening remarks from the CEO and presentations on strategic direction, industry outlook, various business units, and financial priorities. Key topics discussed were the housing market outlook, legislative tax reform proposals, business strategies for timberlands, cellulose fibers, containerboard and other units, and maintaining financial discipline.
KeyBanc Capital Markets Basic Materials and Packaging Conferencefinance15
This document provides an overview and summary of United States Steel Corporation's operations presented at a conference in September 2008. It discusses USSC's goal of growing responsibly while generating returns. It summarizes USSC's production capabilities, acquisition of Stelco, synergies from the Stelco acquisition, overview of its flat-rolled, European, tubular, and Canadian segments. It also discusses industry trends, the improving steel industry outlook, and being bullish on North America.
CHS Corporate Governance and Nominating Committeefinance15
The document outlines the charter of the Corporate Governance and Nominating Committee of Chico's FAS, Inc. The committee is responsible for corporate governance policies, identifying and recruiting director candidates, and overseeing board evaluations. It must be comprised of at least three independent directors elected to one-year terms. The committee determines needed backgrounds for directors, nominates candidates, and recommends board committee memberships and chairs. It oversees annual performance evaluations of the board and committees.
This document is KBR's 2007 Annual Report. It discusses KBR's transition to becoming an independent company after separating from Halliburton and positioning itself for growth across broader markets. It summarizes KBR's performance in 2007, including record financial results and growth in backlog from energy and chemicals customers. It also provides an overview of KBR's six business units and their strategies for future growth in their respective markets.
This document is KBR's 2007 Annual Report. It discusses KBR's positioning for growth after separating from Halliburton. Key points include:
- KBR restructured into six business units to better serve customers and capture market opportunities. The business units are seeing success with new contract awards.
- KBR delivered record financial performance in 2007 while also transitioning to an independent company and positioning itself for future growth. Income increased 177% and net income set an all-time record.
- Moving forward, KBR aims to leverage its expertise and capabilities to strengthen customer relationships, continue improving risk management, and create shareholder value through stable, predictable growth across its business units.
The Timken Company maintained profitability in 1999 despite weaknesses in many markets. The company achieved its third highest sales ever and reduced inventory days for the third consecutive year. Looking ahead, Timken is transforming its organization into a more global business with new leadership and a broader product portfolio to fuel growth and take advantage of improving business conditions in 2000.
This document provides an overview and discussion of GO Financial's operating results for 2004. Some key points:
- Net sales reached a record $4.2 billion in 2004, an increase of 11% over 2003, driven by both acquisitions and organic growth.
- Operating income grew 11% in 2004 compared to 2003, while net income per share grew 12% to $1.19.
- The company expects continued growth in 2005 through strategic acquisitions, leveraging investments in sales and service, and seeking new growth avenues. However, rising costs may pose challenges.
- Critical accounting policies requiring estimates include revenue recognition, allowances, actuarially determined liabilities, and income taxes
Annnual report JSC IDGC of Center and Volga Region 2011Walker_Ol
The annual report summarizes the activities of JSC IDGC of Center and Volga Region for 2011. It discusses the company's business operations, financial performance, investment activities, interaction with stakeholders, and corporate governance. Some key highlights include achieving energy transmission targets for the year, implementing investment projects to modernize infrastructure and increase capacity, maintaining reliability of the grid, pursuing energy efficiency initiatives, and engaging with shareholders and local communities. The report also provides details on the company's management structure, board of directors, financial results, and adherence to quality and environmental standards.
The document is Lockheed Martin's 1995 Annual Report. It summarizes the company's strong financial and operational performance in its first year after merging with Martin Marietta. Key points include record net earnings of $1.12 billion, excluding merger charges, and meeting over 96% of major program milestones. Lockheed Martin also captured over 60% of competitive bids pursued and maintained a $41 billion backlog. The report highlights the company positioning itself as a total systems provider across various sectors.
This document summarizes the annual report of NCR Corporation for the year 2001. It discusses the performance of NCR's main business divisions: Teradata Data Warehousing, Financial Self Service, Retail Store Automation, and Worldwide Customer Services. It notes that while revenue growth targets were not met due to economic challenges, costs were reduced and each business is better positioned for future growth. The letter emphasizes ongoing efforts to improve profitability through lower product costs, reduced expenses, and achieving operational excellence across all solutions.
United Stationers Inc. faced many challenges in 2001 including a weak economy following 9/11, excess infrastructure from unrealized growth, and loss of a large customer. Sales were flat at $3.9 billion while earnings declined. The company undertook restructuring, cutting costs and debt. It consolidated facilities and platforms to better serve customers and gain efficiencies.
This document provides quarterly financial highlights and statistics for Nationwide Financial Services, Inc. for the periods ending June 30, 2008, September 30, 2007, December 31, 2007, March 31, 2008 and June 30, 2007. It includes key metrics such as operating revenues, pre-tax operating earnings, net operating earnings and net income by business segment. The document also includes a table of contents detailing additional statistics and analyses provided in subsequent sections, including account values, sales, policy reserves, investment returns and other financial details.
W.R. Grace & Co. manages a portfolio of businesses to balance growth and profitability. It generates $1.98 billion in annual revenue across construction chemicals, catalysts, and performance chemicals. Grace uses processes like PRISM and acquisitions to drive internal and external growth, focusing on high-growth segments. It aims to strengthen productivity through initiatives like Six Sigma while maintaining leadership in foundation businesses.
(1) First Horizon National Corporation reported a net loss of $35 million in Q3 2009, an improvement from a $105 million net loss in Q2 2009. (2) Noninterest income increased 7% quarter-over-quarter due to debt repurchase gains, while noninterest expense decreased 13% due to lower restructuring charges. (3) The provision for loan losses decreased 29% from $260 million to $185 million as credit quality stabilized.
Hyperion provides solutions to help companies address key financial compliance requirements like Sarbanes-Oxley. Hyperion's financial management software allows for cascading certification of quarterly financial statements with tools for process management, document attachments, and cell text. The software also facilitates annual assessments of internal controls and COSO compliance through features in its financial management and reporting modules that enable close and reporting controls as well as audit trails. Overall, Hyperion offers a complete platform that integrates financial planning, analysis, reporting and compliance to help companies meet regulatory demands.
This document provides quarterly financial highlights and statistical data for Nationwide Financial Services, Inc. for the periods ending September 30, 2008. Some key details include:
- For the quarter ending September 30, 2008, Nationwide reported a net loss of $346.4 million compared to net income of $147 million for the same quarter the previous year.
- Total revenues decreased significantly to $484.6 million for the most recent quarter from $1,131.8 million in the prior year quarter, driven largely by net realized investment losses of $533.9 million in the current period.
- Total assets declined to $102.1 billion as of September 30, 2008 from $121.5 billion
The document summarizes Goodrich Corporation's performance in 2001 and outlook.
1) In 2001, Goodrich delivered strong financial performance despite challenges in the commercial aviation industry following 9/11, completing the sale of its Performance Materials segment and announcing the spin-off of its Engineered Industrial Products segment.
2) Goodrich achieved major contract wins for the Airbus A380 and Joint Strike Fighter programs in 2001, establishing its global leadership in key aerospace markets.
3) The letter discusses Goodrich's strategies of pursuing acquisitions and innovations to enhance its balanced business mix and position the company for long-term success and value creation.
This document provides an overview of Susan and Jim's financial situation including their net worth, goals, investment portfolio, and recommendations from an advisor. It contains analyses of their current assets and allocations, projected growth over time under different scenarios, sources of funds, and estate planning considerations. The advisor utilized software to simulate potential outcomes and determine an optimal investment plan to help achieve Susan and Jim's goals.
This document provides the directors' report and consolidated financial statements for EastNets Europe S.A. for the year ended December 31, 2012. It discusses EastNets' mission to deliver resilient, compliant, and convenient financial solutions. It provides an overview of EastNets' customers, products, employees, and financial highlights for 2012. Total income was €8.545 million in 2012, up slightly from €8.441 million in 2011. EBITDA was €4.412 million in 2012, up from €3.694 million the previous year. Profit for the year was €357,000 in 2012, down from €598,000 in 2011.
The document discusses Dell's company overview, strategy, and strategy for entering the Indian market. Dell's direct sales model eliminates middlemen and retailers, allowing customization and quick adoption of new technologies. This reduces inventory costs. Dell plans to initially sell directly to business customers in major Indian cities and set up a call center in Bangalore. It expects triple digit growth in India in the next two years through strengthening services, local sourcing, and competitive pricing.
The survey found that growth expectations have shifted away from mature economies toward emerging markets. Most companies expect emerging economies like Asia, Eastern Europe, and Russia to contribute significantly to auto industry growth over the next five years. In contrast, more companies forecast declines in revenues for North America and Japan than improvements. Expectations for Western Europe were evenly split between declines and stability.
This document provides an overview and analysis of Illinois Tool Works Inc.'s financial results for 2003, 2002 and 2001. It discusses revenues, operating income, margins and factors affecting performance for the company overall and within its five business segments. The key points are:
- Consolidated revenues increased 6% in 2003 due to currency effects and acquisitions, while base business revenues declined slightly.
- Operating income increased 8% in 2003 due to cost savings, currency effects and acquisitions, despite declines in base business.
- Engineered Products-North America saw a 1% revenue increase in 2003 but an 8% drop in operating income due to base business declines.
- Engineered Products-International saw a 20
This document provides an overview and analysis of Illinois Tool Works Inc.'s financial results for 2003, 2002 and 2001. It discusses revenues, operating income, margins and factors affecting performance for the company overall and within its five business segments. The company saw overall revenue growth of 6% in 2003 driven by currency translation and acquisitions, while base business revenues declined slightly. Operating income increased 8% due to cost savings and currency effects, despite declines in base business.
This document is a Form 10-Q quarterly report filed by Google Inc. with the SEC for the quarter ended September 30, 2004. The summary provides:
- Google reported revenues of $805.9 million for the quarter, up from $393.9 million in the same quarter the previous year. Net income was $52 million compared to $20.4 million.
- Costs and expenses for the quarter were $794.8 million, primarily driven by a $201 million settlement payment to Yahoo.
- As of September 30, 2004, Google held $344.5 million in cash and cash equivalents and $1.5 billion in short-term investments.
This document is Google's Form 10-Q quarterly report filed with the SEC for the quarter ending March 31, 2005. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, Google's revenues increased 93% year-over-year to $1.26 billion, with net income increasing 478% to $369 million. Cash and marketable securities totaled $2.5 billion as of March 31, 2005. Management's discussion and analysis provides details on financial results and business outlook.
This document is Google's Form 10-Q filing with the SEC for the quarterly period ended June 30, 2005. It includes Google's condensed consolidated balance sheets as of December 31, 2004 and June 30, 2005 (unaudited), as well as condensed consolidated statements of income and cash flows for the three and six month periods ended June 30, 2004 and 2005 (unaudited). Notes to the unaudited condensed consolidated financial statements are also provided. The filing provides key financial information about Google's financial position and performance during the reported periods.
This document is Google's Form 10-Q filing with the SEC for the quarterly period ended September 30, 2005. It includes Google's condensed consolidated balance sheets as of December 31, 2004 and September 30, 2005, which shows an increase in total assets from $2.7 billion to $8.4 billion over that period. It also includes condensed consolidated statements of income for quarters ended September 30, 2004 and 2005 and condensed consolidated statements of cash flows for the nine month periods ended September 30, 2004 and 2005. The filing also includes notes to the unaudited condensed consolidated financial statements and sections for management's discussion of financial results, market risk disclosures, and controls and procedures.
This document is Google Inc.'s Form 10-Q filing for the quarterly period ended June 30, 2006. It provides financial statements and disclosures including the condensed consolidated balance sheet, statements of income, and statements of cash flows. Revenues increased significantly year-over-year to $2.46 billion for the quarter due to growth in advertising revenues. Net income for the quarter was $721.1 million, also up significantly from the prior year.
- The document is Google Inc.'s Form 10-Q filing with the SEC for the quarter ended September 30, 2006.
- It provides Google's condensed consolidated financial statements, including balance sheets, income statements, and cash flow statements for the periods presented.
- The financial statements show Google's revenues increased to $2.7 billion for the quarter from $1.6 billion in the prior year, while net income increased to $733 million from $381 million.
- The document discusses Google's Q3 2006 earnings conference call, reporting 70% year-over-year revenue growth and 10% quarter-over-quarter growth driven by increased monetization and traffic.
- Operating income and net income reached record levels, and the company continued investing in products and infrastructure while forming new partnerships.
- Google agreed to acquire YouTube for $1.65 billion in stock, hoping to enable anyone to upload, watch and share videos worldwide.
Google reported strong financial results for Q4 2006 with 67% year-over-year revenue growth and 19% quarter-over-quarter growth. Revenues increased due to a healthy holiday season with strong traffic growth as well as international revenue growth, particularly in Germany and France. Costs and expenses grew but Google continued investing aggressively in employees and infrastructure for long term success. Non-GAAP net income was $997.3 million, up 23% from the previous quarter.
Google reported strong revenue growth in Q1 2007, with revenue up 63% year-over-year and 14% quarter-over-quarter. International markets contributed significantly to revenue growth. Non-GAAP net income was $1.16 billion, with continued investments in infrastructure and employees. Google also announced an agreement to acquire DoubleClick during the quarter.
Google reported strong revenue growth of 58% year-over-year and 6% quarter-over-quarter for Q2 2007. Investments in hiring and infrastructure remained priorities. Google continued to lead in search and ads while launching new products. International revenue increased significantly in key markets like Spain, Italy and France.
- The document is Google Inc.'s Form 10-Q filing with the SEC for the quarterly period ended September 30, 2007.
- It provides Google's consolidated financial statements including balance sheets, income statements, and cash flow statements for interim periods.
- The financial statements show Google's revenues increased over the comparable prior year periods as did costs and expenses, resulting in increased income from operations and net income.
- Google reported revenue growth of 57% year-over-year and 9% quarter-over-quarter for Q3 2007, driven by increases in Google properties revenue and network revenues.
- International markets continued to show strong growth, accounting for over 50% of total revenue.
- The company continued executing on its Search.Ads.Apps strategy and expanding its product offerings.
- Google reported strong revenue growth of 51% year-over-year and 14% quarter-over-quarter for Q4 2007, driven by growth in Google properties revenue and network revenues.
- Executing on its Search.Ads.Apps strategy led to improved search quality worldwide and better advertiser control and return on investment. Significant progress was also made in mobile with the launch of Android.
- International revenues grew to $2.3 billion in Q4 2007 and accounted for over half of total revenues, demonstrating Google's strong global performance.
Google reported strong financial results for Q1 2008 with revenue growth of 42% year-over-year and 7% quarter-over-quarter. Revenue from Google properties grew 49% year-over-year driven by growth in search and international markets. Operating expenses increased but margins remained high at 30% due to operational discipline. Free cash flow was $938 million for the quarter.
Google reported strong revenue growth of 39% year-over-year for Q2 2008. International revenue grew significantly while search quality improvements and ad quality initiatives continued. Costs remained a focus while investing in opportunities. Free cash flow increased substantially from the prior quarter.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
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2. TABlE Of CONTENTS
COMPANY OVERVIEW WOOD PRODUCTS
Welcome Letter Situation Snapshot and Operating Strategy
01 24
Vision and Values Financial Data
02 25
Operating Committee and Financial Philosophy Sales Volumes and Prices
03 25
Ethical Business Conduct and Corporate Governance Production Volumes
04 25
Board of Directors Capacities and Locations: Residential Wood Products
05 26
Senior Management Team Product Information: Residential Wood Products
06 27
Capacities, Locations and Product Information: Hardwoods
28
COMPANY fINANCIAl INfORMATION
and Industrial Wood Products
2007 Financial Highlights
08
International Operations
29
Common Share Earnings, Prices and Dividends
09
CEllUlOSE fIBERS
by Quarter, 2002–2007
Consolidated Statement of Earnings Situation Snapshot and Operating Strategy
10 32
Consolidated Net Sales and Revenues by Source Financial Data
11 33
Consolidated Balance Sheet Sales Volumes and Prices
12 33
Financial Data by Business Segment Production Volumes
13 33
Consolidated Assets by Business Segment Capacities and Locations
14 34
Capital Expenditures by Business Segment Product Information
15 34
(Excluding Acquisitions) Fine Paper
35
Timeline of Major Events
16
REAl ESTATE
Facilities Closed, Curtailed, Sold or Announced for Sale
18
Situation Snapshot and Operating Strategy
38
or Closure in 2007 and 2008
Financial Data
39
Locations in Domtar Transaction
18
Gross Margin
39
Facilities Acquired, Opened or Announced for Acquisition
18
Unit Statistics
39
or Opening in 2008
Real Estate Operations
40
TIMBERlANDS
CONTAINERBOARD, PACKAGING AND RECYClING
Situation Snapshot and Operating Strategy
20
Situation Snapshot and Operating Strategy
42
Financial Data
21
Financial Data
43
Sales Volumes and Prices
21
Sales Volumes and Prices
43
Production Volumes
21
Production Volumes
43
Acreage
22
Capacities and Locations
44
Product Information
46
3. WelCome to the 2007
Weyerhaeuser investor guide.
this publiCation is designed to provide inFormation
to seCurity analysts, investors and others doing
researCh on the long-term FinanCial perFormanCe
oF our Company.
inside you’ll Find: We update this booklet annually.
• Information about who we are, what We welcome any suggestions on how to make it more
we do, our financial philosophy and useful to you. More information about us can be found at
our governance practices. www.weyerhaeuser.com, or you can call Kathryn F. McAuley,
vice president, Investor Relations, at (253) 924-2058.
• Detailed financial data from our
filings with the Securities and
Exchange Commission. Thank you for your continued interest in Weyerhaeuser.
• Market, strategy and operational
information for each of our
business segments.
STEvEn R. RoGEl
• A copy of our 2007 Annual Report and 2008 Proxy Statement.
Chairman and CEo
Weyerhaeuser Company 2007 Investor Guide | 1 |
4. to generate the results you
expeCt, We Continue to put
strategies into aCtion.
in 2007, We took disCiplined, FoCused steps to
Create value For shareholders, deliver Quality
produCts and serviCes to our Customers, and
position our Company For Continued suCCess.
perform
Who We are
• Keeping safety paramount in everything we do.
We release the potential in trees to solve important problems for
people and the planet. The need for imaginative, sustainable so- • Delivering strong financial returns to shareholders.
lutions to the world’s challenges has never been greater. We are • Providing customer value through every step of the
uniquely qualified to meet these needs and those of our custom- supply chain.
ers in ways that create ongoing prosperity.
• Conserving resources and reducing waste.
invent
What We do
• Bringing new market-driven products and services to
We grow and harvest trees, build homes, and manufacture, dis-
customers faster.
tribute and sell forest products. We have offices or operations in
• Encouraging smart risk-taking.
13 countries and serve customers worldwide. In 2007, we gener-
ated $16.3 billion in net sales and revenues. • Rewarding innovation.
• Embracing change.
our values
grow
lead
• Attracting, engaging and retaining talented people.
• Setting the standard for safety and integrity in business.
• Developing a culture of personal growth, empowerment
• Executing strategies for profitable businesses.
and accountability.
• Achieving success through disciplined business processes.
• Building an inclusive, diverse workplace.
• Managing our company in a sustainable and responsible way.
• Making our communities better places to work and live.
|2|
5. operating Committee FinanCial philosophy
guiding principles
led by the chief operating officer, this commit-
• To protect the underlying interests of our
tee is charged with effectively executing busi-
shareholders and lenders.
ness and portfolio strategies (except for Real
Estate) agreed upon by the chief executive • To maintain an investment-grade credit
officer, senior management team and board of rating.
directors. Key operational processes managed • To ensure access to capital markets at
patriCia m.
riChard e.
by the Coo and executive committee are: bedient
hanson all times.
Executive vice
Executive vice
President and
Conservative Financial strategy
President and
• The capital budget within the corporate Chief Financial officer
Chief operating
• We manage our capital structure to target
officer budget.
a 30–40 percent debt-to-total-capital ratio.
• Performance management and margin improvement.
• We continually seek to improve returns from our businesses
• Execution of portfolio additions and divestitures as agreed to
to strengthen our cash flow ratios.
by the CEo and board of directors.
Capital management
• Policy and best practices for safety, environmental leadership,
• We have high-quality assets that are efficient and relatively
information technology strategies and standardization, process
modern.
reliability and customer value propositions.
• We remove underperforming and nonstrategic assets from
our system.
• We continually seek to improve productivity and optimize our
operating systems.
• We will target to return 20–30 percent of our operating cash
flow to shareholders in dividends.
• We periodically repurchase shares when market conditions
warrant.
Weyerhaeuser Company 2007 Investor Guide | 3 |
6. ethiCal business ConduCt • The audit committee is composed solely of independent
directors and is responsible for approving the retention of
• Ethics is at the core of every decision made at Weyerhaeuser,
the external auditor and any non-audit work to be done by
and every employee is personally responsible for ethical busi-
the auditor. The committee meets separately with our internal
ness conduct.
audit leadership and the external auditor at each audit commit-
• In 1976, the company adopted a business ethics policy that
tee meeting. one of our audit committee members is desig-
has been revised over the years to incorporate best practices
nated as a financial expert.
and address changing business environments.
• Both the corporate governance committee and compensation
• We provide a confidential and anonymous way for employees
committee have retained one or more outside consultants to
and others to raise questions about business practices, inter-
advise and assist them in carrying out their responsibilities.
nal controls, accounting issues or compliance with laws.
The corporate environment, health and safety department
• Weyerhaeuser’s Ethics and Business Conduct management
annually reports directly to the corporate governance commit-
system addresses all seven criteria that the U.S. Sentencing
tee about company performance on environmental, health and
Commission included in its revised Sentencing Guidelines de-
safety issues.
scribing an effective program to prevent and detect violations
• Weyerhaeuser’s disclosure committee monitors developments
of the law.
that may be material, reviews our periodic reports and disclo-
sure controls and supports the chief executive officer and chief
Corporate governanCe
financial officer in their certifications of our periodic reports.
Weyerhaeuser has a number of important governance practices
that are intended to maintain the integrity of our financial reports.
These practices include the following:
• The board of directors is composed substantially of indepen-
dent directors and has adopted formal corporate governance
guidelines. The independent directors routinely meet in sepa-
rate executive sessions without any member of management
present.
|4|
7. board oF direCtors
as oF marCh 31, 2008
debra CaFaro John i. kieCkheFer arnold g. langbo rt. hon. donald F.
mazankoWski
Chairman, President and CEo, President, Kieckhefer Former Chairman, Kellogg
ventas, Inc., Director since Associates Inc., Director since Company, Director since Business Consultant,
2007, term expires 2009 1990, term expires 2008 1999, term expires 2008 Director since 1997, term
expires 2009
niCole W. piaseCki steven r. rogel riChard h. sinkField d. miChael steuert
President, Boeing Japan, Chairman and Chief Executive Senior Partner, Rogers & Senior vice President,
Director since 2003, term officer, Weyerhaeuser Hardin, Director since 1993, Chief Financial officer, Fluor
expires 2009 Company, Director since term expires 2010 Corporation, Director since
1997, term expires 2009 2004, term expires 2010
James n. sullivan kim Williams Charles r. Williamson
Retired vice Chairman, Board Former Financial Analyst, Former Chairman and Chief
of Directors, Chevron Corp., Wellington Management Co. Executive officer, Unocal
Director since 1998, term llP Director since 2006, term
, Corporation, Director since
expires 2010 expires 2010 2004, term expires 2008
Weyerhaeuser Company 2007 Investor Guide | 5 |
8. senior management team
as oF marCh 31, 2008
steven r. rogel daniel s. Fulton riChard e. hanson patriCia m. bedient
Chairman and Chief President Executive vice President Executive vice President
Executive officer and Chief operating officer and Chief Financial officer
lee t. alFord ernesta ballard James (mike) m. branson larry burroWs
Senior vice President, Senior vice President, Senior vice President, President and CEo,
Residential Wood Products Corporate Affairs Timberlands Weyerhaeuser Real Estate
Company
shaker Chandrasekaran miles drake thomas F. gideon sandy d. mCdade
Senior vice President, Senior vice President, Senior vice President, Senior vice President
Cellulose Fibers Research and Development, Containerboard, Packaging and General Counsel
Chief Technology officer and Recycling
susan m. mersereau Craig d. neeser edWard p. rogel
Senior vice President, Senior vice President, Senior vice President,
Information Technology, Industrial Wood Products Human Resources
Chief Information officer and International
|6|
10. COMPANY FINANCIAL INFORMATION
2007 FINANCIAL HIgHLIgHTs
DOLLAR AMOUNTS IN MILLIONS EXCEPT PER-SHARE FIGURES
2007 2006 CHANGE
Net sales and revenues $ 16,308 $ 18,671 -12.66%
Net earnings $ 790 $ 453 74.39%
Basic net earnings per share $ 3.60 $ 1.85 94.59%
Diluted net earnings per share $ 3.59 $ 1.84 95.11%
Total assets $ 23,806 $ 26,862 -11.38%
Capital expenditures $ 724 $ 874 -17.16%
(EXCLUDING ACqUISITIONS)
Shareholders’ interest $ 7,981 $ 9,085 -12.15%
Number of common and exchangeable shares outstanding
211,146 238,008 -11.29%
(IN THOUSANDS)
Book value per share $ 37.80 $ 38.17 -0.97%
Return on shareholders’ interest 9.3% 4.8% 93.75%
Common stock price range $ 86.20–62.97 $ 75.09–55.35
|8|
11. finanCial information
investor information for fisCal year 2007
common share earnInGs, prIces and dIvIdends by quarter, 2002–2007
basIc net earnInGs common share common share dIvIdends paId
quarter (Loss) per share prIce: hIGh prIce: Low per share
2007 4th $ (0.30) $ 77.68 $ 67.75 $ 0.60
3rd 0.47 84.05 62.97 0.60
2nd 0.15 82.62 74.69 0.60
1st 3.09 86.20 71.37 0.60
2006 4th 2.12 71.93 60.49 0.60
3rd 0.91 63.37 55.35 0.60
2nd 1.20 75.09 56.69 0.50
1st (2.34) 73.77 66.32 0.50
2005 4th (0.86) 68.75 61.12 0.50
3rd 1.16 68.98 63.42 0.50
2nd 1.72 71.52 62.86 0.50
1st 0.98 69.39 62.02 0.40
2004 4th 0.82 67.86 59.94 0.40
3rd 2.46 65.19 58.57 0.40
2nd 1.57 67.80 56.04 0.40
1st 0.54 66.76 60.00 0.40
2003 4th 0.41 63.01 56.01 0.40
3rd 0.37 62.00 52.50 0.40
2nd 0.71 53.76 47.83 0.40
1st (0.24) 53.58 45.80 0.40
2002 4th 0.57 52.60 38.04 0.40
3rd 0.06 62.88 43.77 0.40
2nd 0.32 67.83 57.85 0.40
1st 0.14 65.52 50.93 0.40
Information prior to 2002 is no longer included in our financial presentation due to major acquisitions that occurred between 1999 and 2002. Financial results for periods prior to 2002 are not
comparable to the periods being presented. Information on the acquisitions can be found in the timeline of major events on page 16.
Weyerhaeuser Company 2007 Investor Guide | 9 |
12. consoLIdated statement oF earnInGs
for the six years ended deCember 30, 2007, in millions of dollars exCept per-share figures
2007 2006 2005 2004 2003 2002
net sales and revenues:
weyerhaeuser $ 13,949 $ 15,336 $ 15,930 $ 15,963 $ 14,017 $ 13,028
real estate 2,359 3,335 2,915 2,495 2,029 1,750
total net sales and revenues 16,308 18,671 18,845 18,458 16,046 14,778
costs and expenses:
weyerhaeuser:
costs of products sold 11,375 12,182 12,417 11,940 10,917 10,264
depreciation, depletion and amortization 900 947 944 899 922 901
selling expenses 422 451 411 430 401 402
General and administrative expenses 771 895 808 844 843 757
research and development expenses 71 69 61 55 51 52
charges for integration and restructuring 37 21 17 25 81 72
charges for closure of facilities 124 72 191 18 91 91
Impairment of goodwill 30 —. —. —. —. —.
refund of countervailing and anti-dumping duties —. (344) —. —. —. —.
other operating costs (income), net (7) (136) (39) (231) (230) (136)
13,723 14,157 14,810 13,980 13,076 12,403
real estate:
costs and operating expenses 1,752 2,338 1,946 1,763 1,518 1,329
depreciation and amortization 23 25 16 14 11 11
selling expenses 179 180 152 126 107 90
General and administrative expenses 99 124 105 82 64 49
other operating costs (income), net (2) (3) (3) (17) (9) (1)
charge for impairment of long-lived assets 128 36 33 —. —. —.
2,179 2,700 2,249 1,968 1,691 1,478
total costs and expenses 15,902 16,857 17,059 15,948 14,767 13,881
operating income 406 1,814 1,786 2,510 1,279 897
Interest expense and other:
weyerhaeuser:
Interest expense incurred (574) (519) (643) (742) (719) (725)
Less interest capitalized 118 84 59 9 19 50
Interest income and other 83 70 214 24 17 28
equity in income (loss) of affiliates 2 7 (6) 14 (4) (13)
real estate:
Interest expense incurred (57) (55) (55) (57) (53) (53)
Less interest capitalized 57 55 55 57 53 53
Interest income and other (1) 30 12 31 33 33
equity in income of unconsolidated entities 25 58 57 52 20 31
earnings from continuing operations before income
taxes and cumulative effect of a change in accounting
principle 59 1,544 1,479 1,898 645 301
Income taxes (8) (480) (530) (646) (217) (105)
earnings from continuing operations before cumulative
effect of a change in accounting principle 51 1,064 949 1,252 428 196
earnings (loss) from discontinued operations, net of
income taxes 739 (611) (216) 31 (140) 45
earnings before cumulative effect of a change in
accounting principle 790 453 733 1,283 288 241
cumulative effect of a change in accounting principle,
net of income taxes —. —. —. —. (11) —.
net earnings $ 790 $ 453 $ 733 $ 1,283 $ 277 $ 241
basic earnings per share:
earnings from continuing operations $ 0.23 $ 4.35 $ 3.88 $ 5.32 $ 1.93 $ 0.89
earnings (loss) from discontinued operations 3.37 (2.50) (0.88) 0.13 (0.63) 0.20
effect of accounting changes — — — — (0.05) —
net earnings per share, basic $ 3.60 $ 1.85 $ 3.00 $ 5.45 $ 1.25 $ 1.09
diluted earnings per share:
earnings from continuing operations $ 0.23 $ 4.33 $ 3.86 $ 5.30 $ 1.93 $ 0.89
earnings (loss) from discontinued operations 3.36 (2.49) (0.88) 0.13 (0.63) 0.20
effect of accounting changes — — — — (0.05) —
net earnings per share, diluted $ 3.59 $ 1.84 $ 2.98 $ 5.43 $ 1.25 $ 1.09
dividends paid per share $ 2.40 $ 2.20 $ 1.90 $ 1.60 $ 1.60 $ 1.60
certain reclassifications have been made to conform prior years’ data to the current format.
Fiscal year 2006 includes 53 weeks of operations compared with 52 weeks in all other fiscal years.
| 10 |
13. consoLIdated net saLes and revenues by source
for the six years ended deCember 30, 2007, in millions of dollars
2007 2006 2005 2004 2003 2002
weyerhaeuser:
Logs $ 677 $ 805 $ 823 $ 947 $ 835 $ 910
softwood lumber 2,433 3,145 3,778 4,080 3,421 3,299
engineered lumber products 1,142 1,553 1,644 1,438 1,134 1,116
oriented strand board 589 940 1,164 1,390 1,109 649
plywood 372 530 735 929 784 700
veneer 44 42 44 44 39 34
(1)
composite panels 82 473 717 703 562 507
hardwood lumber 360 401 393 365 350 333
pulp 1,478 1,657 1,482 1,471 1,305 1,196
paper (2) 433 2,468 2,417 2,226 2,182 2,163
(2)
coated groundwood 26 171 180 156 140 126
Liquid packaging board 247 229 203 208 198 179
containerboard 457 377 395 368 304 350
packaging 4,020 3,935 3,712 3,584 3,544 3,466
recycling 413 345 352 347 247 229
Kraft bags and sacks 96 88 83 80 80 75
marine shipping 210 198 203 194 173 149
other products 1,433 1,558 1,643 1,572 1,392 1,258
14,512 18,915 19,968 20,102 17,799 16,739
net sales and revenues from
discontinued operations (563) (3,579) (4,038) (4,139) (3,782) (3,711)
13,949 15,336 15,930 15,963 14,017 13,028
real estate:
single-family units 2,079 2,951 2,686 2,193 1,730 1,455
multi-family units 49 33 —. 1 27 91
residential lots 51 253 113 170 141 117
commercial lots 127 25 22 31 69 34
commercial buildings —. —. 8 —. 10 14
acreage 20 31 66 84 28 11
other 33 42 20 16 24 28
2,359 3,335 2,915 2,495 2,029 1,750
total consolidated $ 16,308 $ 18,671 $ 18,845 $ 18,458 $ 16,046 $ 14,778
reflects the divestitures of our French composite panel operations in december 2005, Irish composite panel operations in november 2006, and north american composite panel
(1)
operations in July 2006.
reflects the domtar transaction in march 2007.
(2)
Fiscal year 2006 includes 53 weeks of operations compared with 52 weeks in all other fiscal years.
Weyerhaeuser Company 2007 Investor Guide | 11 |
14. consoLIdated baLance sheet
for the six years ended deCember 30, 2007, in millions of dollars
assets 2007 2006 2005 2004 2003 2002
weyerhaeuser:
current assets:
cash and cash equivalents $ 93 $ 223 $ 816 $ 1,042 $ 170 $ 114
receivables, less allowances 1,333 1,183 1,380 1,269 1,190 1,063
Inventories 1,255 1,355 1,325 1,304 1,264 1,358
prepaid expenses 333 385 387 548 417 384
assets held for sale —. 105 —. —. —. —.
current assets of discontinued operations —. 870 968 1,130 980 969
total current assets 3,014 4,121 4,876 5,293 4,021 3,888
property and equipment, net 6,817 7,061 7,191 7,630 7,877 8,378
construction in progress 442 395 476 229 165 326
timber and timberlands at cost less depletion
charged to disposals 3,769 3,681 3,704 3,732 3,822 4,006
Investments in and advances to equity affiliates 356 499 486 489 546 566
Goodwill 2,207 2,185 2,215 2,228 2,227 2,153
deferred pension and other assets 2,505 1,368 1,279 1,182 1,272 1,276
restricted assets held by special purpose entities 916 917 916 909 547 110
noncurrent assets of discontinued operations —. 3,011 4,179 5,790 6,118 5,644
20,026 23,238 25,322 27,482 26,595 26,347
real estate:
cash and cash equivalents, including restricted
deposits 21 20 286 153 31 7
receivables, less discounts and allowances 63 144 42 43 64 70
real estate in process of development and for sale 1,270 1,449 1,055 861 723 696
Land being processed for development 1,622 1,365 1,037 987 922 962
Investments in unconsolidated entities, less
reserves 58 72 61 59 38 28
other assets 473 423 296 270 226 207
consolidated assets not owned 273 151 130 99 —. —.
3,780 3,624 2,907 2,472 2,004 1,970
total assets $ 23,806 $ 26,862 $ 28,229 $ 29,954 $ 28,599 $ 28,317
LIabILItIes and sharehoLders’ Interest 2007 2006 2005 2004 2003 2002
weyerhaeuser:
current liabilities:
notes payable and commercial paper $ 54 $ 72 $ 3 $ 3 $ 4 $ 2
current maturities of long-term debt 507 488 374 473 74 775
accounts payable 869 948 1,107 999 861 803
accrued liabilities 1,177 1,363 1,435 1,288 1,010 1,023
current liabilities of discontinued operations —. 258 336 386 576 391
total current liabilities 2,607 3,129 3,255 3,149 2,525 2,994
Long-term debt 6,059 7,069 7,404 9,260 11,479 11,874
deferred income taxes 3,290 3,011 3,292 3,419 3,168 2,929
deferred pension, other postretirement benefits and
other liabilities 1,669 1,759 1,548 1,461 1,321 1,233
Liabilities (nonrecourse to weyerhaeuser) held by
special purpose entities 765 765 764 815 490 98
noncurrent liabilities of discontinued operations —. 717 786 1,180 1,206 1,217
14,390 16,450 17,049 19,284 20,189 20,345
real estate:
notes payable and commercial paper —. —. 3 2 1 63
Long-term debt 775 606 851 867 893 814
other liabilities 432 606 417 460 407 472
consolidated liabilities not owned 228 115 109 86 —. —.
1,435 1,327 1,380 1,415 1,301 1,349
total liabilities 15,825 17,777 18,429 20,699 21,490 21,694
shareholders’ interest 7,981 9,085 9,800 9,255 7,109 6,623
total liabilities and shareholders’ interest $ 23,806 $ 26,862 $ 28,229 $ 29,954 $ 28,599 $ 28,317
| 12 |
15. FInancIaL data by busIness seGment
for the year ended deCember 30, 2007, in millions of dollars
contaIner-
board, eLImInatIons/
wood ceLLuLose FIne pacKaGInG and corporate dIscontInued
tImberLands products FIbers paper recycLInG and other reaL estate operatIons totaL
trade sales and revenues $ 910 $ 5,699 $ 1,832 $ 459 $ 5,168 $ 444 $ 2,359 $ (563) $ 16,308
Intersegment sales 1,328 230 40 43 9 58 —. (1,708) —.
net sales and revenues 2,238 5,929 1,872 502 5,177 502 2,359 (2,271) 16,308
costs and expenses:
costs of products sold 1,432 5,656 1,411 408 4,138 493 1,752 (2,163) 13,127
depreciation, depletion and amortization 119 268 148 47 297 72 23 (51) 923
selling expenses 2 235 19 6 149 18 179 (7) 601
General and administrative expenses 88 258 71 18 224 128 99 (16) 870
research and development expenses —. —. —. —. —. 71 —. —. 71
charges for integration and restructuring 1 20 3 —. 2 11 —. —. 37
charges (reversals) for closure of facilities —. 115 (1) 2 9 1 —. (2) 124
Impairment of goodwill —. 30 —. —. —. —. —. —. 30
charge for impairment of long-lived assets —. —. —. —. —. —. 128 —. 128
other operating costs (income), net (32) 76 (10) 1 (23) (675) (2) 656 (9)
total costs and expenses 1,610 6,658 1,641 482 4,796 119 2,179 (1,583) 15,902
operating income (loss) 628 (729) 231 20 381 383 180 (688) 406
Interest income and other, net 6 1 1 —. 1 74 (1) —. 82
equity in income (loss) of equity affiliates —. (6) (3) —. —. 11 25 —. 27
earnings (loss) before interest and
income taxes 634 (734) 229 20 382 468 204 (688) 515
Interest expense, net of capitalized interest —. —. —. —. —. (473) —. 17 (456)
earnings (loss) before income taxes 634 (734) 229 20 382 (5) 204 (671) 59
Income taxes —. —. —. —. —. 135 (75) (68) (8)
earnings (loss) from continuing operations $ 634 $ (734) $ 229 $ 20 $ 382 $ 130 $ 129 (739) 51
earnings from discontinued operations,
net of tax 739 739
net earnings $ — $ 790
for the year ended deCember 31, 2006, in millions of dollars
contaIner-
board, eLImInatIons/
wood ceLLuLose FIne pacKaGInG and corporate dIscontInued
tImberLands products FIbers paper recycLInG and other reaL estate operatIons totaL
trade sales and revenues $ 1,016 $ 7,902 $ 1,956 $ 2,645 $ 4,912 $ 484 $ 3,335 $ (3,579) $ 18,671
Intersegment sales 1,675 236 125 261 55 33 —. (2,385) —.
net sales and revenues 2,691 8,138 2,081 2,906 4,967 517 3,335 (5,964) 18,671
costs and expenses:
costs of products sold 1,757 7,220 1,696 2,350 3,965 485 2,338 (5,291) 14,520
depreciation, depletion and amortization 122 298 171 280 304 83 25 (311) 972
selling expenses 2 269 20 37 143 27 180 (47) 631
General and administrative expenses 87 314 79 117 264 136 124 (102) 1,019
research and development expenses —. —. —. —. —. 69 —. —. 69
charges (reversals) for integration and
restructuring (1) (1) —. 1 21 2 —. (1) 21
charges (reversals) for closure of facilities 1 59 (3) 15 14 26 —. (40) 72
Impairment of goodwill —. —. —. 749 —. —. —. (749) —.
refund of countervailing and anti-dumping
duties —. (344) —. —. —. —. —. —. (344)
charge for impairment of long-lived assets —. —. —. —. —. —. 36 —. 36
other operating costs (income), net (39) (146) (9) 4 (6) (26) (3) 86 (139)
total costs and expenses 1,929 7,669 1,954 3,553 4,705 802 2,700 (6,455) 16,857
operating income (loss) 762 469 127 (647) 262 (285) 635 491 1,814
Interest income and other 5 1 1 —. 1 63 30 (1) 100
equity in income (loss) of equity affiliates —. (6) 14 —. —. (1) 58 —. 65
earnings (loss) before interest and
income taxes 767 464 142 (647) 263 (223) 723 490 1,979
Interest expense, net of capitalized interest —. —. —. —. —. (531) —. 96 (435)
earnings (loss) before income taxes 767 464 142 (647) 263 (754) 723 586 1,544
Income taxes —. —. —. —. —. (233) (272) 25 (480)
earnings (loss) from continuing operations $ 767 $ 464 $ 142 $ (647) $ 263 $ (987) $ 451 611 1,064
Loss from discontinued operations, net
of tax (611) (611)
net earnings $ — $ 453
Weyerhaeuser Company 2007 Investor Guide | 13 |
18. tImeLIne oF maJor events (1999–2003)
1999 2000 2001 2002 2003
• composite • door business (wI) • box plant (ct) • 115,000 acres of • 444,000 acres of
saLes
products business • recycling plant (IL) timberlands (wa) timberlands (wa,
• ply-veneer plant (ar) tn, carolinas)
• chemicals business • softwood lumber
(wa, nc) mill (on)
• 2 recycling plants
(aZ, wv)
• chip export facility (ms) • 4 box plants (oh, IL, • Fine paper • softwood lumber • corrugating medium
cLosures
nJ, tx) machine (wa) mill (bc) mill (or)
• Linerboard • willamette particle- • engineered lumber
machine (or) board facility (or) plant (or)
• corrugating medium • oriented strand board • 2 fine paper machines
machine (nc) facility (sK) (wa, wI)
• softwood lumber • willamette glulam • hardwood lumber
mill (ar) facility (or) mill (ar)
• sawmill and particle- • willamette I-Line • packaging sheet
board plant (bc) facility (La) plant (Ky)
• sawmill, wood fiber • particleboard plant (La) • 2 plywood mills and
cement and beam • Laminated veneer 1 line (ar, aL)
facilities (mexico) lumber mill (or) • 4 softwood lumber
• 3 packaging sheet mills (bc, wa, on)
plants (va, oK, tx) • recycling center (or)
• corrugating medium
mill (on)
• corrugating medium
machine (Ky)
• 3 recycling plants (md,
ca, oK)
• willamette fine paper
machine (pa)
• macmillan bloedel Ltd: • tJ International • cedar river • willamette Industries:
acquIsItIons
– 635,000 acres • 2 sawmills and related paper company – 1.7 million acres of
of timberlands assets from csr Ltd. • 68,000 acres of timber timberlands in the
– 6.3 million acres of australia and timberlands from united states
of timber licenses • coast mountain hard- west Fraser timber co. – 35 wood
– 19 wood woods (bc) Ltd., uruguay products facilities
products facilities – 53 containerboard
– 31 distribution facilities
centers – 18 cellulose
– 22 containerboard fiber and fine
facilities paper facilities
• 62,500 ares of timber-
lands and solid wood
manufacturing assets
of csr Ltd. of australia
• outsourced logging
other
operations on licensed
timberlands in canada
| 16 |
19. tImeLIne oF maJor events (2004–2007)
announCed in 2007
2004 2005 2006 Completed in 2007 and 2008
• 270,000 acres of • 5 softwood • u.s. composite • canadian • select u.s.
saLes
timberlands (Ga) sawmills (bc) panels business distribution facilities distribution facilities
• 2 softwood lumber • 2 remanufacturing • composite panel • select u.s. • 114 containerboard,
mills (Ga, sc) facilities (bc) facility (europe) distribution facilities packaging and
• osb facility (ab) • 3.2 million acres of • 2 corrugated sheet • veneer facility (wa) recycling locations
• 2 plywood plants owned and licensed plants (ar, La) • Investment in new
(sc, nc) timberlands in canada • single-face packaging Zealand joint venture,
• box plant (ca) • 635,000 acres of plant (oh) nelson Forests, and
• Joint venture in 2 box timberlands (bc) new Zealand manage-
plants (china) • engineered lumber ment company,
facility (or) weyerhaeuser new
• 2 composite panels Zealand Inc.
facilities (europe) • 1 plywood mill (or)
previously closed
• softwood lumber • softwood lumber • 5 box plants (oh, ny, • 1 plywood line (La) • 3 softwood lumber
cLosures
mill (ab) mill (wa) ar, nc, IL) • 2 softwood lumber sawmills (or, wa, sK)
• paper converting • veneer and plywood • corrugated sheet sawmills (or, bc) • 1 veneer facility (sK)
facility (wa) facility (oK) plant (tn) • 1 trus Joist I-Joist • 1 box plant (hI)
• 3 packaging sheet • hardwood facility (oK) • 2 packaging sheet line (ab)
plants (FL, or, mexico) • concentration feeders (ar, tx) • 1 box plant (nJ)
• utility pole yard (ar) • bag plant (mo) • select u.s.
operation (ar) • packaging sheet • containerboard distribution facilities
• 1 box plant (Ky) feeder (tn) machine (nc) • 1 veneer operation (Ga)
• 3 plywood facilities • 1 canadian distribution
(ar, or-2) facility (on)
• 4 softwood lumber
facilities (or-2, sK)(1)
• veneer facility (or)
• pulp facility (wa)
• 2 paper machines
(on, sK)(2)
• wood room
operation (on)(2)
• paper converting
operation (sK)(2)
• pulp mill (sK)(2)
• hardwood lumber mill • maracay homes (aZ) • softwood lumber
acquIsItIons
from aracruz cellulose • budres Lumber mill (oK)(3)
s.a., brazil company Inc. (mI)
• organicId (co)
• psa composites,
LLc (wa)
• opened new plywood • combination of fine • continued construction
other
mill in uruguay (Los paper and related of 2 new softwood lum-
piques joint venture) assets with domtar Inc. ber sawmills (or, wa)
• purchased 78,000 • startup of a bag • partition of uruguay
acres of timberlands plant (nc) joint ventures
in uruguay • 1 softwood lumber
sawmill contract
cancelled (ar)(4)
big river Lumber, saskatchewan, closed in april 2006 and then was included in the domtar combination in 2007.
(1)
dryden, ontario, and prince albert, saskatchewan, were closed in 2006 and then were included in the domtar combination in 2007.
(2)
weyerhaeuser purchased the Idabel, oklahoma, mill in 2007. prior to purchase, this was reported as a fully consolidated contract mill.
(3)
weyerhaeuser canceled its contract with the russellville, arkansas, mill in 2007. prior to the cancellation, this was reported as a fully consolidated contract mill.
(4)
Weyerhaeuser Company 2007 Investor Guide | 17 |
20. FacILItIes cLosed, curtaILed, soLd or announced For saLe or cLosure In 2007 and 2008
business
type oF FacILIty LocatIon dIsposItIon capacIty
iLevel wood products 16 canadian distribution facilities various sold not reported
1 canadian distribution facility windsor, on closed not reported
9 u.s. distribution facilities various sold or sale announced not reported
6 u.s. distribution facilities various closed not reported
softwood lumber coburg, or closure announced 350 million board feet
softwood lumber Green mountain, wa closure announced 340 million board feet
softwood lumber bauman, or closed 110 million board feet
softwood lumber okanagan Falls, bc closed 230 million board feet
softwood lumber russellville, ar contract terminated 150 million board feet
softwood lumber carrot river, sK closure announced 80 million board feet
veneer and plywood elma, wa sold 165 million square feet (3/8quot;)
veneer and plywood dodson, La plywood line closed 185 million square feet (3/8quot;)
veneer and plywood hudson bay, sK closure announced 110 million square feet (3/8quot;)
engineered I-joists valdosta, Ga Indefinite curtailment 100 million lineal feet
engineered I-joists claresholm, ab closed 30 million lineal feet
engineered wood products valdosta, Ga Indefinite curtailment 100 million lineal feet
engineered wood products deerwood, mn Indefinite curtailment 6 million cubic feet
strand technology miramichi, nb Indefinite curtailment 430 million square feet (3/8quot;)
strand technology drayton valley, ab Indefinite curtailment 415 million square feet (3/8quot;)
strand technology wawa, on Indefinite curtailment 470 million square feet (3/8quot;)
hardwood & Industrial
wood products u.s. distribution facility sedro woolley sold not reported
corrugator moved to exeter,
containerboard & packaging packaging sheet feeder plant cerritos, ca building sold not applicable
box plant closter, nJ closed 1,190 million square feet
containerboard, packaging
and recycling 114 various facilities various sale announced various
LocatIons In domtar transactIon
business
type oF FacILIty LocatIon dIsposItIon capacIty
6 fine paper mills and
cellulose Fibers & white papers related pulp production facilities united states domtar transaction various
1 coated groundwood mill united states domtar transaction various
2 fine paper mills canada domtar transaction various
1 pulp mill canada domtar transaction various
16 paper converting facilities united states and canada domtar transaction various
iLevel wood products 3 softwood lumber mills canada domtar transaction various
FacILItIes acquIred, opened or announced For acquIsItIon or openInG In 2008
business
type oF FacILIty LocatIon dIsposItIon capacIty
iLevel wood products softwood lumber Idabel, oK purchased 130 million board feet
softwood lumber Lebanon, or (santiam) new construction — 2008 startup 350 million board feet
softwood lumber Longview, wa new construction — 2008 startup 435 million board feet
containerboard & packaging bag plant charlotte, nc startup april 2007 35,000 tons
| 18 |
21. TIMBERLANDs
TIMBERLANDs
EVERY PRODUCT WE MAKE
BEgINs WITH TREEs.
WE TAP THE POTENTIAL OF OUR HIGHLY PRODUCTIVE
TIMBERLANDS BY HARVESTING THE TREES FOR LUMBER
AND OTHER WOOD PRODUCTS, DEVELOPING ITS MINERAL
RESOURCES AND REAL ESTATE POTENTIAL, AND PROVIDING
ACCESS FOR RECREATIONAL USE. OUR PRACTICES
PROMOTE HEALTHY, SUSTAINABLE FORESTS.
| 19 |
22. TIMBERLANDs
CAPTURING FULL VALUE FROM OUR MANAGED FORESTS TO MEET
CUSTOMER AND PUBLIC EXPECTATIONS
sITUATION sNAPsHOT OPERATINg sTRATEgY
• Wood fiber markets in Latin America, • Lead the industry in safety, environmental performance and
China, Japan and other Asian countries value generation.
are growing rapidly. • Improve how we sustainably manage forests to meet cus-
• While currently affected by the housing tomer and public expectations.
cycle, long-term demand for softwood
JAMEs (MIKE) M.
• Reduce the time it takes to realize returns by practicing
BRANsON
fiber in the United States remains strong. precision forest management and participating aggressively
Senior Vice President,
Timberlands • Offshore structural lumber producers in the most advantageous markets.
TIMBERLANDs
face cost disadvantages when shipping • Grow minerals, gas, biofuels and environmental credits
to the United States. programs.
• Natural events — such as hurricanes, wind storms, pest • Build long-term relationships with customers who rely on a
outbreaks and wildfires — are affecting North American for- consistent supply of high-quality raw material.
est conditions and timber supplies. • Work closely with Weyerhaeuser businesses to efficiently
• Increasing interest in nontimber use of forestlands, such as deliver fiber into internal supply chains at market prices.
mineral exploration and energy production, is creating new • Continuously review our portfolio to improve productivity,
opportunities. lower risk and create more value.
• Current federal tax policies result in higher tax rates for
C corporations such as Weyerhaeuser than for other timber-
lands ownership structures.
| 20 |
23. timberlands
investor information for fisCal year 2007
FInancIaL data
for the six years ended deCember 30, 2007, in millions of dollars
2007 2006 2005 2004 2003 2002
trade sales and revenues $ 910 $ 1,016 $ 1,047 $ 1,102 $ 994 $ 930
Intersegment sales 1,328 1,675 1,794 1,622 1,605 1,545
net sales and revenues 2,238 2,691 2,841 2,724 2,599 2,475
costs and expenses:
costs of products sold 1,432 1,757 1,864 1,796 1,852 1,738
depreciation, depletion and amortization 119 122 122 124 123 125
selling expenses 2 2 2 3 3 4
General and administrative expenses 88 87 81 85 86 58
charges (reversals) for integration and restructuring 1 (1) 1 3 2 —.
charges for closures —. 1 6 —. —. —.
Gain on significant sales of nonstrategic timberlands —. —. —. (271) (205) (117)
other operating costs (income), net (32) (39) (14) (39) (36) (32)
total costs and expenses 1,610 1,929 2,062 1,701 1,825 1,776
operating income 628 762 779 1,023 774 699
Interest income and other 6 5 5 4 3 3
earnings before interest, income taxes and accounting changes $ 634 $ 767 $ 784 $ 1,027 $ 777 $ 702
saLes voLumes to unaFFILIated customers and prIces
for the six years ended deCember 30, 2007
2007 2006 2005 2004 2003 2002
product sales (thousands):
Logs — cunits 3,081 3,436 3,552 3,920 4,125 3,600
selected published product prices:
export logs — $/mbF:
coastal — hemlock $ 433 $ 442 $ 439 $ 386 $ 354 $ 416
coastal — douglas fir 767 833 780 780 707 697
productIon voLumes
for the six years ended deCember 30, 2007, in thousands
2007 2006 2005 2004 2003 2002
Fee depletion — cunits 8,144 8,450 8,730 9,013 9,428 9,358
Fiscal year 2006 includes 53 weeks of operations compared with 52 weeks in all other fiscal years.
Weyerhaeuser Company 2007 Investor Guide | 21 |