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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Oct. 22, 2018
Document Information [Line Items]
Entity Registrant Name	WEYERHAEUSER CO
Trading Symbol	WY
Entity Central Index Key	0000106535
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		749,200,027

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net sales (Note 3)	$ (1,910,000,000)	$ (1,872,000,000)	$ (5,840,000,000)	$ (5,373,000,000)
Costs of products sold	1,452,000,000	1,374,000,000	4,247,000,000	3,982,000,000
Gross margin	458,000,000	498,000,000	1,593,000,000	1,391,000,000
Selling expenses	20,000,000	22,000,000	66,000,000	66,000,000
General and administrative expenses	78,000,000	75,000,000	236,000,000	238,000,000
Research and development expenses	2,000,000	4,000,000	6,000,000	12,000,000
Charges for integration and restructuring, closures and asset impairments (Note 15)	0	14,000,000	2,000,000	178,000,000
Charges (recoveries) for product remediation, net (Note 16)	0	190,000,000	0	240,000,000
Other operating costs (income), net (Note 17)	21,000,000	(12,000,000)	66,000,000	2,000,000
Operating income	337,000,000	205,000,000	1,217,000,000	655,000,000
Non-operating pension and other postretirement benefit costs	(17,000,000)	(16,000,000)	(54,000,000)	(46,000,000)
Interest income and other	13,000,000	12,000,000	36,000,000	30,000,000
Interest expense, net of capitalized interest	(93,000,000)	(98,000,000)	(278,000,000)	(297,000,000)
Earnings before income taxes	240,000,000	103,000,000	921,000,000	342,000,000
Income taxes (Note 18)	15,000,000	27,000,000	(80,000,000)	(31,000,000)
Net earnings	$ 255,000,000	$ 130,000,000	$ 841,000,000	$ 311,000,000
Earnings per share, basic and diluted (Note 5)	$ 0.34	$ 0.17	$ 1.11	$ 0.41
Dividends paid per share	$ 0.34	$ 0.31	$ 0.98	$ 0.93
Weighted average shares outstanding (in thousands) (Note 5):
Basic	754,986	753,535	756,531	752,301
Diluted	757,389	756,903	759,116	756,058

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net earnings	$ 255	$ 130	$ 841	$ 311
Other comprehensive income (loss):
Foreign currency translation adjustments	15	24	(16)	35
Changes in unamortized actuarial loss, net of tax of $12, $12, $94, and $62	38	18	291	90
Changes in unamortized net prior service credit, net of tax of $0, $0, $1, and $1	(2)	(1)	(3)	(5)
Unrealized gains on available-for-sale securities	0	1	0	2
Total other comprehensive income	51	42	272	122
Total comprehensive income	$ 306	$ 172	$ 1,113	$ 433

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Tax of actuarial loss	$ 12	$ 12	$ 94	$ 62
Tax of prior service credits	$ 0	$ 0	$ 1	$ 1

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 348	$ 824
Receivables, less discounts and allowances of $1 and $1	444	396
Receivables for taxes	140	14
Inventories (Note 6)	389	383
Prepaid expenses and other current assets	140	98
Current restricted financial investments held by variable interest entities (Note 7)	253	0
Total current assets	1,714	1,715
Property and equipment, less accumulated depreciation of $3,411 and $3,338	1,672	1,618
Construction in progress	255	225
Timber and timberlands at cost, less depletion	12,727	12,954
Minerals and mineral rights, less depletion	297	308
Goodwill	40	40
Deferred tax assets	71	268
Other assets	289	316
Restricted financial investments held by variable interest entities (Note 7)	362	615
Total assets	17,427	18,059
Liabilities
Current maturities of long-term debt (Note 10)	0	62
Current debt (nonrecourse to the company) held by variable interest entities (Note 7)	511	209
Accounts payable	271	249
Accrued liabilities (Note 9)	491	645
Total current liabilities	1,273	1,165
Long-term debt (Note 10)	5,921	5,930
Long-term debt (nonrecourse to the company) held by variable interest entities (Note 7)	0	302
Deferred pension and other postretirement benefits (Note 8)	885	1,487
Other liabilities	291	276
Total liabilities	8,370	9,160
Commitments and contingencies (Note 12)
Equity:
Common shares: $1.25 par value; authorized 1,360,000,000 shares; issued and outstanding: 749,198,651 and 755,222,727 shares	936	944
Other capital	8,234	8,439
Retained earnings	1,439	1,078
Accumulated other comprehensive loss (Note 13)	(1,552)	(1,562)
Total equity	9,057	8,899
Total liabilities and equity	$ 17,427	$ 18,059

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Receivables, allowances	$ 1	$ 1
Property and equipment, accumulated depreciation	$ 3,411	$ 3,338
Common shares, par value	$ 1.25	$ 1.25
Common shares, authorized	1,360,000,000	1,360,000,000
Common shares, issued	749,198,651	755,222,727
Common shares, outstanding	749,198,651	755,222,727

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operations:
Net earnings	$ 841	$ 311
Noncash charges to earnings:
Depreciation, depletion and amortization	361	394
Basis of real estate sold	80	48
Deferred income taxes, net	111	9
Pension and other postretirement benefits (Note 8)	82	72
Share-based compensation expense	31	29
Charges for impairment of assets	1	153
Change in:
Receivables, less allowances	(55)	(113)
Receivables and payables for taxes	(109)	(116)
Inventories	(9)	4
Prepaid expenses	(7)	(9)
Accounts payable and accrued liabilities	(133)	184
Pension and postretirement benefit contributions and payments	(355)	(59)
Other	(19)	(60)
Net cash from operations	820	847
Cash flows from investing activities:
Capital expenditures for property and equipment	(238)	(213)
Capital expenditures for timberlands reforestation	(45)	(46)
Proceeds from sale of assets and operations	2	423
Other	17	28
Net cash from (used in) investing activities	(264)	192
Cash flows from financing activities:
Cash dividends on common shares	(741)	(699)
Proceeds from issuance of long-term debt (Note 10)	0	225
Payments of long-term debt (Note 10)	(62)	(831)
Proceeds from borrowings on line of credit (Note 10)	0	100
Payments on line of credit (Note 10)	0	(100)
Repurchase of common stock (Note 5)	(273)	0
Proceeds from exercise of stock options	52	89
Other	8	2
Net cash used in financing activities	(1,032)	(1,218)
Net change in cash and cash equivalents	(476)	(179)
Cash and cash equivalents at beginning of period	824	676
Cash and cash equivalents at end of period	348	497
Cash paid during the period for:
Interest, net of amount capitalized of $8 and $6	285	315
Income taxes	$ 80	$ 129

CONSOLIDATED STATEMENT OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Interest, amount capitalized	$ 8	$ 6

BASIS OF PRESENTATION

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION

We are a corporation that has elected to be taxed as a real estate investment trust (REIT). We expect to derive most of our REIT income from investments in timberlands, including the sale of standing timber. As a REIT, we generally are not subject to federal corporate level income taxes on REIT taxable income that is distributed to shareholders. We are required to pay corporate income taxes on earnings of our taxable REIT subsidiaries (TRSs), which includes our Wood Products segment and portions of our Timberlands and Real Estate, Energy and Natural Resources (Real Estate & ENR) segments.

Our consolidated financial statements provide an overall view of our results of operations and financial condition. They include our accounts and the accounts of entities we control, including:


•	majority-owned domestic and foreign subsidiaries and


•	variable interest entities in which we are the primary beneficiary.

They do not include our intercompany transactions and accounts, which are eliminated.

We account for investments in and advances to unconsolidated equity affiliates using the equity method, with taxes provided on undistributed earnings. This means that we record earnings and accrue taxes in the period earnings are recognized by our unconsolidated equity affiliates.

Throughout these Notes to Consolidated Financial Statements, unless specified otherwise, references to “Weyerhaeuser,” “we,” “the company” and “our” refer to the consolidated company.

The accompanying unaudited Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods presented. Except as otherwise disclosed in these Notes to Consolidated Financial Statements, such adjustments are of a normal, recurring nature. The Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial statements. Certain information and footnote disclosures normally included in our annual Consolidated Financial Statements have been condensed or omitted. These quarterly Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the year ended December 31, 2017. Results of operations for interim periods should not necessarily be regarded as indicative of the results that may be expected for the full year.

NEW ACCOUNTING PRONOUNCEMENTS

Leases

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, which requires lessees to recognize assets and liabilities for the rights and obligations created by those leases and requires leases to be recognized on the balance sheet. The new guidance is effective for fiscal years beginning after December 15, 2018, and early adoption is permitted. We plan to adopt on January 1, 2019. We have evaluated the relevant guidance and will continue to monitor subsequent revisions either made or being contemplated by the FASB, including application of the available practical expedients. We estimate the adoption will result in the recognition of additional rights of use assets and lease liabilities for operating leases of less than 2 percent of our total assets on our Consolidated Balance Sheet. These leases are primarily related to vehicles, equipment, office and wholesale space leases previously disclosed in Note 14, “Legal Proceedings, Commitments and Contingencies,” in our Annual Report on Form 10-K for the year ended December 31, 2017.

Reclassification of Certain Amounts from Accumulated Other Comprehensive Loss

In February 2018, the FASB issued ASU 2018-02, which allows for the reclassification of certain income tax effects related to the Tax Cuts and Jobs Act (the "Tax Act") between “Accumulated other comprehensive loss” and “Retained earnings.” This ASU provides that adjustments to deferred tax liabilities and assets related to a change in tax laws be included in “Income from continuing operations”, even in situations where the related items were originally recognized in “Other comprehensive income.” The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. Adoption of this ASU is to be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the tax laws was recognized. We adopted this ASU during first quarter 2018 using the period of adoption method, which resulted in a reclassification of $253 million from "Accumulated other comprehensive loss" to "Retained earnings" on our Consolidated Balance Sheet due to changes in federal statutory and effective state rates. In general, tax effects unrelated to the Tax Act are released from accumulated other comprehensive loss using the portfolio approach.

In January 2016, the FASB issued ASU 2016-01, which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. We adopted ASU 2016-01 in first quarter 2018, which resulted in a reclassification of accumulated unrealized gains on available-for-sale securities of $9 million from "Accumulated other comprehensive loss" to "Retained earnings" on our Consolidated Balance Sheet.

BUSINESS SEGMENTS

9 Months Ended

Sep. 30, 2018

BUSINESS SEGMENTS

Reportable business segments are determined based on the company’s "management approach," as defined by ASC Topic 280, “Segment Reporting.” The management approach is based on the way the chief operating decision maker organizes the segments within a company for making decisions about resources to be allocated and assessing their performance.

We are principally engaged in growing and harvesting timber; manufacturing, distributing, and selling products made from trees; maximizing the value of every acre we own through the sale of higher and better use (HBU) properties; and monetizing reserves of minerals, oil, gas, coal, and other natural resources on our timberlands. The following is a brief description of each of our reportable business segments and activities:


•	Timberlands – which includes logs, timber and leased recreational access;


•	Real Estate & ENR – which includes sales of timberlands; rights to explore for and extract hard minerals, oil and gas production and coal; and equity interests in our Real Estate Development Ventures; and


•	Wood Products – which includes softwood lumber, engineered wood products, structural panels, medium density fiberboard and building materials distribution.

A reconciliation of our business segment information to the respective information in the Consolidated Statement of Operations is as follows:



	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018			SEPTEMBER 2017			SEPTEMBER 2018			SEPTEMBER 2017
Sales to unaffiliated customers:
Timberlands	$	468		$	491		$	1,455		$	1,446
Real Estate & ENR	96			82			205			181
Wood Products	1,346			1,299			4,180			3,746
	1,910			1,872			5,840			5,373
Intersegment sales:
Timberlands	185			179			598			544

Total sales	2,095			2,051			6,438			5,917
Intersegment eliminations	(185		)	(179		)	(598		)	(544		)
Total	$	1,910		$	1,872		$	5,840		$	5,373
Net contribution to earnings:
Timberlands⁽¹⁾	$	126		$	131		$	476		$	267
Real Estate & ENR	36			47			83			96
Wood Products⁽²⁾	213			40			812			389
	375			218			1,371			752
Unallocated items⁽³⁾	(42		)	(17		)	(172		)	(113		)
Net contribution to earnings	333			201			1,199			639
Interest expense, net of capitalized interest	(93		)	(98		)	(278		)	(297		)
Earnings before income taxes	240			103			921			342
Income taxes	15			27			(80		)	(31		)
Net earnings	$	255		$	130		$	841		$	311


(1)	Net contribution to earnings for the Timberlands segment includes a noncash pretax impairment charge of $147 million, recorded during second quarter 2017. This impairment was a result of our agreement to sell our Uruguayan operations, as announced during June 2017. Refer to Note 15: Charges for Integration and Restructuring, Closures and Asset Impairments.

(2)

Net contribution to earnings for the Wood Products segment includes a $25 million recovery and a $25 million charge recorded in the year-to-date period ended September 30, 2018, and $190 million and $240 million charges recorded in the quarter and year-to-date period ended September 30, 2017, respectively. We did not receive any insurance recoveries or record additional charges in third quarter 2018. These changes were recorded to accrue for estimated costs to remediate an issue with certain I-joists coated with our former Flak Jacket® Protection product. Refer to Note 16: Charges (Recoveries) for Product Remediation, Net for additional details.


(3)	Unallocated items are gains or charges not related to, or allocated to, an individual operating segment. They include a portion of items such as: share-based compensation expenses, pension and postretirement costs, foreign exchange transaction gains and losses and the elimination of intersegment profit in inventory and LIFO.

REVENUE RECOGNITION (Notes)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

A majority of our revenue is derived from sales of delivered logs and manufactured wood products. We account for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers, which we adopted on January 1, 2018, using the cumulative effect method. The adoption of the new revenue recognition guidance did not materially impact our Consolidated Statement of Operations, Consolidated Balance Sheet, or Consolidated Statement of Cash Flows.

PERFORMANCE OBLIGATIONS

A performance obligation, as defined in ASC Topic 606, is a promise in a contract to transfer a distinct good or service to a customer. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue at the point in time, or over the period, in which the performance obligation is satisfied.

Performance obligations associated with delivered log sales are typically satisfied when the logs are delivered to our customers’ mills or delivered to an ocean vessel in the case of export sales. Performance obligations associated with the sale of wood products are typically satisfied when the products are shipped. The company has elected, as an accounting policy, to treat shipping and handling that is performed after a customer obtains control of the product as an activity required to fulfill the promise to transfer the good; therefore we will not evaluate this requirement as a separate performance obligation.

Customers are generally invoiced shortly after logs are delivered or after wood products are shipped, with payment generally due within a month or less of the invoice date. ASC Topic 606 requires entities to consider significant financing components of contracts with customers, though allows for the use of a practical expedient when the period between satisfaction of a performance obligation and payment receipt is one year or less. Given the nature of our revenue transactions, we have elected to utilize this practical expedient.

Performance obligations associated with real estate sales are generally met when placed into escrow and all conditions of closing have been satisfied.

CONTRACT ESTIMATES

Substantially all of the company’s performance obligations are satisfied as of a point in time. Therefore, there is little judgment in determining when control transfers for our business segments as described above.

The transaction price for log sales generally equals the amount billed to our customer for logs delivered during the accounting period. For the limited number of log sales subject to a long-term supply agreement, the transaction price is variable but is known at the time of billing. For wood products sales, the transaction price is generally the amount billed to the customer for the products shipped but may be reduced slightly for estimated cash discounts and rebates.

There are no significant contract estimates related to the real estate business.

CONTRACT BALANCES

In general, customers are billed and a receivable is recorded as we ship and/or deliver wood products and logs. We generally receive payment shortly after products have been received by our customers. Contract asset and liability balances are immaterial.

For real estate sales, the company receives the entire consideration in cash at closing.

MAJOR PRODUCTS

A reconciliation of revenue recognized by our major products:



	QUARTER ENDED				YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018		SEPTEMBER 2017		SEPTEMBER 2018		SEPTEMBER 2017
Net sales:
Timberlands Segment
Delivered logs⁽¹⁾:
West
Domestic sales	$	125	$	102	$	398	$	347
Export sales	113		119		368		326
Subtotal West	238		221		766		673
South	157		155		472		451
North	25		25		70		68
Other	9		17		30		48
Subtotal delivered logs sales	429		418		1,338		1,240
Stumpage and pay-as-cut timber	13		23		39		52
Recreational and other lease revenue	15		16		44		45
Other⁽²⁾	11		34		34		109
Net sales attributable to Timberlands segment	468		491		1,455		1,446
Real Estate & ENR Segment
Real estate	76		64		148		128
Energy and natural resources	20		18		57		53
Net sales attributable to Real Estate & ENR segment	96		82		205		181
Wood Products Segment
Structural lumber	581		525		1,831		1,541
Engineered solid section	132		131		400		378
Engineered I-joists	91		93		261		251
Oriented strand board	215		243		724		671
Softwood plywood	53		45		158		136
Medium density fiberboard	48		48		138		146
Complementary building products	152		146		449		417
Other	74		68		219		206
Net sales attributable to Wood Products segment	1,346		1,299		4,180		3,746
Total net sales	$	1,910	$	1,872	$	5,840	$	5,373

(1)

The West region includes Washington and Oregon. The South region includes Virginia, North Carolina, South Carolina, Florida, Georgia, Alabama, Mississippi, Louisiana, Arkansas, Texas and Oklahoma. The North region includes West Virginia, Maine, New Hampshire, Vermont, Michigan, Wisconsin and Montana. Other includes our Canadian operations and former Twin Creeks Venture (terminated in December 2017).


(2)	Other Timberlands sales include sales of seeds and seedlings, chips, as well as sales from our former Uruguayan operations (sold during third quarter 2017). Our former Uruguayan operations included logs, plywood and hardwood lumber harvested or produced. Refer to Note 4: Operations Divested for further information.

OPERATIONS DIVESTED

9 Months Ended

Sep. 30, 2018

OPERATIONS DIVESTED

On October 12, 2016, we announced the exploration of strategic alternatives for our Uruguay timberlands and manufacturing operations, which was part of our Timberlands business segment. On June 2, 2017, the Weyerhaeuser Board of Directors approved an equity purchase agreement with a consortium led by BTG Pactual's Timberland Investment Group (TIG), including other long-term investors, pursuant to which the Company agreed to sell, in exchange for $403 million in cash, all of its equity interest in the subsidiaries that collectively owned and operated its Uruguayan timberlands and manufacturing operations.

On September 1, 2017, we completed the sale of our Uruguay timberlands and manufacturing operations for $403 million of cash proceeds. Due to the impairment of our Uruguayan operations recorded during second quarter 2017 (refer to Note 15: Charges for Integration and Restructuring, Closures and Asset Impairments), no material gain or loss was recorded as a result of this sale.

The sale of our Uruguayan operations was not considered a strategic shift that had or will have a major effect on our operations or financial results, and therefore did not meet the requirements for presentation as discontinued operations.

NET EARNINGS PER SHARE AND SHARE REPURCHASES

9 Months Ended

Sep. 30, 2018

NET EARNINGS PER SHARE AND SHARE REPURCHASES

Our basic and diluted earnings per share were:


•	$0.34 during third quarter 2018 and $1.11 during year-to-date 2018;


•	$0.17 during third quarter 2017 and $0.41 during year-to-date 2017.

Basic earnings per share is net earnings divided by the weighted average number of our outstanding common shares, including stock equivalent units where there is no circumstance under which those shares would not be issued. Diluted earnings per share is net earnings divided by the sum of the weighted average number of our outstanding common shares and the effect of our outstanding dilutive potential common shares.



	QUARTER ENDED		YEAR-TO-DATE ENDED
SHARES IN THOUSANDS	SEPTEMBER 2018	SEPTEMBER 2017	SEPTEMBER 2018	SEPTEMBER 2017
Weighted average common shares outstanding – basic	754,986	753,535	756,531	752,301
Dilutive potential common shares:
Stock options	1,370	2,437	1,560	2,754
Restricted stock units	629	551	570	529
Performance share units	404	380	455	474
Total effect of outstanding dilutive potential common shares	2,403	3,368	2,585	3,757
Weighted average common shares outstanding – dilutive	757,389	756,903	759,116	756,058

We use the treasury stock method to calculate the dilutive effect of our outstanding stock options, restricted stock units and performance share units. Share-based payment awards that are contingently issuable upon the achievement of specified performance or market conditions are included in our diluted earnings per share calculation in the period in which the conditions are satisfied.

Potential Shares Not Included in the Computation of Diluted Earnings per Share

The following shares were not included in the computation of diluted earnings per share because they were either antidilutive or the required performance or market conditions were not met. Some or all of these shares may be dilutive potential common shares in future periods.



	QUARTER ENDED		YEAR-TO-DATE ENDED
SHARES IN THOUSANDS	SEPTEMBER 2018	SEPTEMBER 2017	SEPTEMBER 2018	SEPTEMBER 2017
Stock options	1,166	1,381	1,166	1,381
Performance share units	830	556	830	556

Share Repurchase Program

The 2016 Share Repurchase Authorization was approved and announced in November 2015 by our Board of Directors and authorized management to repurchase up to $2.5 billion of outstanding shares. We repurchased 8,583,244 common shares for $290 million (including transaction fees) during third quarter 2018 and 8,585,844 shares for $291 million (including transaction fees) during year-to-date 2018, under the 2016 Share Repurchase Authorization. Transaction fees incurred for repurchases are not counted as use of funds authorized for repurchase under the 2016 Share Repurchase Authorization. All common share purchases under the share repurchase program are to be made in open-market transactions. As of September 30, 2018, we had remaining authorization of $210 million for future share repurchases.

We record share repurchases upon trade date as opposed to the settlement date when cash is disbursed. We record a liability for repurchases that have not yet been settled as of period end. There were $18 million of unsettled repurchases as of September 30, 2018 and no unsettled repurchases as of December 31, 2017.

INVENTORIES

9 Months Ended

Sep. 30, 2018

INVENTORIES

Inventories include raw materials, work-in-process, finished goods, and materials and supplies.



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2018		DECEMBER 31, 2017
LIFO inventories:
Logs	$	16	$	17
Lumber, plywood, panels and fiberboard	63		66
Other products	13		10
FIFO or moving average cost inventories:
Logs	21		38
Lumber, plywood, panels, fiberboard and engineered wood products	107		91
Other products	80		77
Materials and supplies	89		84
Total	$	389	$	383

LIFO – the last-in, first-out method – applies to major inventory products held at our U.S. locations. The FIFO – the first-in, first-out method – or moving average cost methods apply to the balance of our U.S. raw material and product inventories, all material and supply inventories and all foreign inventories. If we used FIFO for all LIFO inventories, our stated inventories would have been higher by $69 million as of September 30, 2018, and $70 million as of December 31, 2017.

SPECIAL-PURPOSE ENTITIES

9 Months Ended

Sep. 30, 2018

SPECIAL PURPOSE ENTITIES

SPECIAL-PURPOSE ENTITIES

From 2002 through 2004, we sold certain nonstrategic timberlands in five separate transactions. We are the primary beneficiary and consolidate the assets and liabilities of certain monetization and buyer-sponsored Special-purpose entities (SPEs) involved in these transactions. We have an equity interest in the monetization SPEs, but no ownership interest in the buyer-sponsored SPEs. The long-term notes of our monetization SPEs include $209 million and $302 million scheduled to mature in fourth quarter 2018 and third quarter of 2019, respectively. The financial investments of our buyer sponsored SPEs include $253 million scheduled to mature first quarter 2019. We have classified the long-term notes scheduled to mature in fourth quarter 2018 and third quarter 2019 as current liabilities and the financial investments scheduled to mature in first quarter 2019 as current receivables on our Consolidated Balance Sheet.

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

9 Months Ended

Sep. 30, 2018

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

The components of net periodic benefit cost are:



	PENSION
	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018			SEPTEMBER 2017			SEPTEMBER 2018			SEPTEMBER 2017
Service cost	$	10		$	9		$	28		$	26
Interest cost	58			66			177			198
Expected return on plan assets	(100		)	(101		)	(300		)	(306		)
Amortization of actuarial loss	56			48			169			145
Amortization of prior service cost	1			1			3			3
Total net periodic benefit cost - pension	$	25		$	23		$	77		$	66



	OTHER POSTRETIREMENT BENEFITS
	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018			SEPTEMBER 2017			SEPTEMBER 2018			SEPTEMBER 2017
Interest cost	$	2		$	2		$	5		$	6
Amortization of actuarial loss	2			2			6			6
Amortization of prior service credit	(2		)	(2		)	(6		)	(6		)
Total net periodic benefit cost - other postretirement benefits	$	2		$	2		$	5		$	6

For the periods presented, service cost is included in "Cost of products sold," "Selling expenses," and "General and administrative expenses". The remaining components are included in "Non-operating pension and other postretirement benefit costs." Refer to the Consolidated Statement of Operations.

FAIR VALUE OF PENSION PLAN ASSETS AND OBLIGATIONS

We estimate the fair value of pension plan assets based upon the information available during the year end reporting process. In some cases, primarily private equity funds, the information available consists of net asset values as of an interim date, cash flows between the interim date and the end of the year and market events. We update the year end estimated fair value of pension plan assets to incorporate year end net asset values reflected in financial statements received after we have filed our Annual Report on Form 10-K. During second quarter 2018, we recorded an increase in the beginning of year fair value of the pension assets of $44 million, or less than 1 percent.

During second quarter 2018, we also updated our mortality assumption and census data used to estimate our projected benefit obligation for our U.S. qualified pension plan. We recorded an adjustment to our projected benefit obligation, incorporating updated census data and applying new company-specific mortality data. As a result of these updates, the beginning of year pension projected benefit obligation decreased by $155 million, or approximately 2 percent. The net effect of these updates, including the update to the pension assets, was a $199 million improvement in funded status.

ACTIONS TO REDUCE PENSION PLAN OBLIGATIONS

On August 23, 2018, we announced actions intended to reduce the liabilities of our U.S. qualified pension plan while maintaining the plan's current funded status. We offered certain U.S. terminated vested plan participants the opportunity to elect an immediate lump sum distribution of their pension benefits. Based on qualifying participant elections received by the company, we expect to make distributions from plan assets to those who elect to receive a lump sum in fourth quarter 2018. We also intend to transfer a portion of U.S. qualified pension plan liabilities to an insurance company through the purchase of a group annuity contract. This transaction would also be funded with the pension plan assets and is expected to close in 2019. We expect to record one-time noncash settlement charges for the lump sum offer and the annuity purchase upon the respective completion dates, with the amounts of each charge to be determined at that time.

To maintain the U.S. qualified pension plan's current funded status in connection with these transactions, we contributed $300 million to the plan during third quarter 2018. Refer to Note 18: Income Taxes for details on the tax effects of this transaction.

Additionally, Weyerhaeuser’s pension plan assets are in the process of being transitioned to an allocation that will more closely match the plan’s liability profile going forward.

EXPECTED FUNDING AND BENEFIT PAYMENTS

In 2018, we expect to:


•	be required to contribute approximately $24 million for our Canadian registered plan;


•	be required to contribute or make benefit payments for our Canadian nonregistered plans of $2 million;


•	make benefit payments of $19 million for our U.S. nonqualified pension plans; and


•	make benefit payments of $19 million for our U.S. and Canadian other postretirement plans.

We do not expect any contributions to our U.S. qualified pension plan in 2018 in addition to the $300 million contribution referenced above.

ACCRUED LIABILITIES

9 Months Ended

Sep. 30, 2018

ACCRUED LIABILITIES

Accrued liabilities were comprised of the following:



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2018		DECEMBER 31, 2017
Accrued compensation and employee benefit costs	$	184	$	223
Accrued taxes payable	40		43
Customer rebates, volume discounts and deferred income	110		96
Interest	84		111
Product remediation accrual	4		98
Other	69		74
Total	$	491	$	645

LONG-TERM DEBT AND LINES OF CREDIT

9 Months Ended

Sep. 30, 2018

LONG-TERM DEBT AND LINES OF CREDIT

During first quarter 2018, we paid our $62 million 7.00 percent debenture at maturity.

During March 2017, we entered into a $1.5 billion five-year senior unsecured revolving credit facility that expires in March 2022. This replaced a $1.0 billion senior unsecured revolving credit facility. The entire amount is available to Weyerhaeuser Company. Interest on borrowings are at LIBOR plus a spread or at other interest rates mutually agreed upon between the borrower and the lending banks. As of September 30, 2018, there were no borrowings outstanding.

FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2018

FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]

FAIR VALUE OF FINANCIAL INSTRUMENTS

The estimated fair values and carrying values of our long-term debt consisted of the following:



	SEPTEMBER 30, 2018				DECEMBER 31, 2017
DOLLAR AMOUNTS IN MILLIONS	CARRYING VALUE		FAIR VALUE (LEVEL 2)		CARRYING VALUE		FAIR VALUE (LEVEL 2)
Long-term debt (including current maturities)⁽¹⁾:
Fixed rate	$	5,697	$	6,378	$	5,768	$	6,823
Variable rate	224		225		224		225
Total debt	$	5,921	$	6,603	$	5,992	$	7,048


(1)	Excludes nonrecourse debt held by our Variable Interest Entities (VIEs).

To estimate the fair value of fixed rate long-term debt, we used the following valuation approaches:


•	market approach – based on quoted market prices we received for the same types and issues of our debt; or


•	income approach – based on the discounted value of the future cash flows using market yields for the same type and comparable issues of debt.

We believe that our variable rate long-term debt instruments have net carrying values that approximate their fair values with only insignificant differences.

The inputs to these valuations are based on market data obtained from independent sources or information derived principally from observable market data. The difference between the fair value and the carrying value represents the theoretical net premium or discount we would pay or receive to retire all debt at the measurement date.

FAIR VALUE OF OTHER FINANCIAL INSTRUMENTS

We believe that our other financial instruments, including cash and cash equivalents, short-term investments, mutual fund investments held in grantor trusts, receivables, and payables, have net carrying values that approximate their fair values with only insignificant differences. This is primarily due to the short-term nature of these instruments and the allowance for doubtful accounts.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

LEGAL PROCEEDINGS, COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2018

LEGAL PROCEEDINGS, COMMITMENTS AND CONTINGENCIES

LEGAL PROCEEDINGS

We are party to various legal proceedings arising in the ordinary course of business. We are not currently a party to any legal proceeding that management believes could have a material adverse effect on our Consolidated Balance Sheet, Consolidated Statement of Operations, or Consolidated Statement of Cash Flows. See Note 18: Income Taxes for a discussion of a tax proceeding involving Plum Creek's 2008 U.S. federal income tax return.

ENVIRONMENTAL MATTERS

Site Remediation

Under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) – commonly known as the Superfund – and similar state laws, we:


•	are a party to various proceedings related to the cleanup of hazardous waste sites and


•	have been notified that we may be a potentially responsible party related to the cleanup of other hazardous waste sites for which proceedings have not yet been initiated.

We have received notification from the Environmental Protection Agency (the EPA) and have acknowledged that we are a potentially responsible party in a portion of the Kalamazoo River Superfund site in southwest Michigan. Our involvement in the remediation site is based on our former ownership of the Plainwell, Michigan mill located within the remediation site. Several other companies also have been deemed potentially responsible parties as past or present owners or operators of facilities within the site, or as arrangers under CERCLA.

We cooperated with other parties to jointly implement an administrative order issued by the EPA on April 14, 2016, with respect to a

portion of the site comprising a stretch of the river approximately 1.7 miles long referred to as the Otsego Township Dam Area. During third quarter 2018, implementation of this administrative order was completed.

In 2010, the company, along with others, was named as a defendant by Georgia-Pacific Consumer Products LP, Fort James Corporation and Georgia-Pacific LLC in an action seeking contribution under CERCLA for remediation costs relating to a certain area within the site. On March 29, 2018, the U.S. District Court issued an opinion and order assigning the company responsibility for 5 percent of approximately $50 million in past costs incurred by the plaintiffs. The remaining 95 percent of this pool of past costs incurred was allocated to the plaintiffs and other defendants.

The opinion and order does not establish allocation for future remediation costs, and accordingly, we may incur additional costs in connection with future remediation tasks for other areas of the site. In connection with the opinion and order, we updated our best estimate of the liability associated with the site and recorded a pretax charge of $28 million in the first quarter as "Other operating costs (income), net" on the Consolidated Statement of Operations.

As of September 30, 2018, our total accrual for future estimated remediation costs on the active Superfund sites and other sites for which we are potentially responsible was approximately $67 million. These amounts are recorded in "Accrued liabilities" and "Other liabilities" on our Consolidated Balance Sheet.

Asset Retirement Obligations

We have obligations associated with the future retirement of tangible long-lived assets consisting primarily of reforestation obligations related to forest management licenses in Canada and obligations to close and cap landfills. As of September 30, 2018, our accrued balance for these obligations was $30 million. These obligations are recorded in "Accrued liabilities" and "Other liabilities" on our Consolidated Balance Sheet. The accrued balance has not changed significantly since December 31, 2017.

Some of our sites have materials containing asbestos. We have met our current legal obligation to identify and manage these materials. In situations where we cannot reasonably determine when materials containing asbestos might be removed from the sites, we have not recorded an accrual because the fair value of the obligation cannot be reasonably estimated.

PRODUCT REMEDIATION

Refer to Note 16: Charges (Recoveries) for Product Remediation, Net for further information.

ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Sep. 30, 2018

ACCUMULATED OTHER COMPREHENSIVE LOSS

Changes in amounts included in our accumulated other comprehensive loss by component are:



				PENSION						OTHER POSTRETIREMENT BENEFITS
DOLLAR AMOUNTS IN MILLIONS	Foreign currency translation adjustments			Actuarial loss			Prior service cost			Actuarial loss			Prior service credit			Unrealized gains on available-for-sale securities			Total
Beginning balance as of December 31, 2017	$	264		$	(1,802	)	$	(8	)	$	(48	)	$	23		$	9		$	(1,562	)
Other comprehensive income (loss) before reclassifications⁽¹⁾	(16		)	159			—			—			—			—			143
Amounts reclassified from accumulated other comprehensive loss to earnings⁽¹⁾⁽²⁾	—			127			1			5			(4		)	—			129
Total other comprehensive income (loss)	(16		)	286			1			5			(4		)	—			272
Reclassification of certain tax effects due to tax law changes⁽³⁾	—			(245		)	(1		)	(12		)	5			—			(253		)
Reclassification of accumulated unrealized gains on available-for-sale securities⁽⁴⁾	—			—			—			—			—			(9		)	(9		)
Net amounts reclassified from accumulated other comprehensive loss to retained earnings	—			(245		)	(1		)	(12		)	5			(9		)	(262		)
Ending balance as of September 30, 2018	$	248		$	(1,761	)	$	(8	)	$	(55	)	$	24		$	—		$	(1,552	)


(1)	Amounts are presented net of tax.


(2)	Amortization of actuarial loss and prior service (cost) credit are components of net periodic benefit cost (credit). See Note 8: Pension and Other Postretirement Benefit Plans.


(3)	We reclassified certain tax effects from tax law changes of $253 million from "Accumulated other comprehensive loss" to "Retained earnings" on our Consolidated Balance Sheet in accordance with ASU 2018-02. See Note 1: Basis of Presentation.


(4)	We reclassified accumulated unrealized gains from available-for-sale securities of $9 million from "Accumulated other comprehensive loss" to "Retained earnings" on our Consolidated Balance Sheet in accordance with ASU 2016-01. See Note 1: Basis of Presentation.

SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2018

SHARE-BASED COMPENSATION

Share-based compensation activity during year-to-date 2018 included the following:



SHARES IN THOUSANDS	Granted	Vested
Restricted Stock Units (RSUs)	731	595
Performance Share Units (PSUs)	344	112

A total of 2.6 million shares of common stock were issued as a result of RSU vestings, PSU vestings and stock option exercises.

RESTRICTED STOCK UNITS

The weighted average fair value of the RSUs granted in 2018 was $34.10. The vesting provisions for RSUs granted in 2018 were as follows:


•	vest ratably over four years;


•	immediately vest in the event of death while employed or disability;


•	continue to vest upon retirement at an age of at least 62, but a portion of the grant is forfeited if retirement occurs before the one-year anniversary of the grant;


•	continue vesting for one year in the event of involuntary termination when the retirement criteria has not been met; and


•	will be entirely forfeited upon termination of employment in all other situations including early retirement prior to age 62.

PERFORMANCE SHARE UNITS

The weighted average grant date fair value of PSUs granted in 2018 was $35.49.

The final number of shares granted in 2018 will range from 0 percent to 150 percent of each grant's target, depending upon actual company performance.

The ultimate number of PSUs earned is based on two measures:


•	our relative total shareholder return (TSR) ranking measured against the S&P 500 over a three year period and


•	our relative TSR ranking measured against an industry peer group of companies over a three year period.

The vesting provisions for PSUs granted in 2018 were as follows:


•	vest 100 percent on the third anniversary of the grant date if the individual remains employed by the company;


•	fully vest in the event the participant dies or becomes disabled while employed;


•	continue to vest upon retirement at an age of at least 62, but a portion of the grant is forfeited if retirement occurs before the one year anniversary of the grant;


•	continue vesting for one year in the event of involuntary termination when the retirement criteria has not been met and the employee has met the second anniversary of the grant date; and


•	will be entirely forfeited upon termination of employment in all other situations including early retirement prior to age 62.

Weighted Average Assumptions Used in Estimating the Value of Performance Share Units Granted in 2018



	Performance Share Units
Performance period	1/1/2018		–	12/31/2020
Valuation date average stock price⁽¹⁾				$34.14
Expected dividends				3.81%
Risk-free rate	1.75	%	–	2.34%
Expected volatility	17.30	%	–	21.52%


(1)	Calculated as an average of the high and low prices on grant date.

VALUE MANAGEMENT AWARDS

Value Management Awards (VMAs) are relative performance equity incentive awards granted to certain former employees of Plum Creek and assumed by the company in connection with the Plum Creek merger. In accordance with the terms of the merger, all VMAs outstanding on December 31, 2017, vested at “target” level performance of $100 per unit and were paid out in full in first quarter of 2018.

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS

9 Months Ended

Sep. 30, 2018

Restructuring Cost and Reserve [Line Items]

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS



	QUARTER ENDED				YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018		SEPTEMBER 2017		SEPTEMBER 2018		SEPTEMBER 2017
Integration and restructuring charges related to Plum Creek	$	—	$	6	$	—	$	20
Charges related to closures and other restructuring activities	—		2		1		5
Impairments of long-lived assets	—		6		1		153
Total charges for integration and restructuring, closures and asset impairments	$	—	$	14	$	2	$	178

IMPAIRMENTS OF LONG-LIVED ASSETS

In second quarter 2017, we recognized an impairment charge to the timberlands and manufacturing assets of our Uruguayan operations. On June 2, 2017, our Board of Directors approved an agreement to sell all of the Company's equity in the Uruguayan business to a consortium led by BTG Pactual's Timberland Investment Group (TIG). As a result of this agreement, the related assets met the criteria to be classified as held for sale. This designation required us to record the related assets at fair value, less an amount of estimated selling costs, and thus recognize a $147 million noncash pretax impairment charge. This amount was recorded in the Timberlands segment. The fair value of the related assets was primarily based on the agreed upon cash purchase price of $403 million. On September 1, 2017, we announced the completion of the sale. Refer to Note 4: Operations Divested for further details of the Uruguayan operations sale.

Additionally, in September 2017, we recognized an impairment charge of $6 million related to a non-strategic asset in our Wood Products segment. The fair value of the asset was determined using a contract value associated with the asset sale.

CHARGES (RECOVERIES) FOR PRODUCT REMEDIATION, NET (Notes)

9 Months Ended

Sep. 30, 2018

CHARGES (RECOVERIES) FOR PRODUCT REMEDIATION, NET

In July 2017, we announced we were implementing a solution to address concerns regarding our TJI® Joists coated with our former Flak Jacket® Protection product. This issue was isolated to Flak Jacket product manufactured after December 1, 2016, and did not affect any of our other products. In first quarter 2018, we received and recorded insurance recoveries of $20 million. During second quarter 2018, we recorded an additional charge of $25 million as a result of additional product remediation expenses, partially offset by $5 million of insurance recoveries. We did not receive any insurance recoveries or record additional charges in third quarter 2018. During the quarter and year-to-date period ended September 30, 2017, we recorded $190 million and $240 million of product remediation charges, respectively. The charges and recoveries are attributable to our Wood Products segment and were recorded in "Charges (recoveries) for product remediation, net" on the Consolidated Statement of Operations.

OTHER OPERATING COSTS (INCOME), NET

9 Months Ended

Sep. 30, 2018

OTHER OPERATING COSTS (INCOME), NET

Other operating costs (income), net:


•	includes both recurring and occasional income and expense items and


•	can fluctuate from year to year.

ITEMS INCLUDED IN OTHER OPERATING COSTS (INCOME), NET



	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018			SEPTEMBER 2017			SEPTEMBER 2018			SEPTEMBER 2017
Gain on disposition of nonstrategic assets	$	(1	)	$	(5	)	$	(4	)	$	(14	)
Foreign exchange losses (gains), net	2			(3		)	2			—
Litigation expense, net	10			8			23			14
Other, net⁽¹⁾	10			(12		)	45			2
Total other operating costs (income), net	$	21		$	(12	)	$	66		$	2


(1)	"Other, net" includes environmental remediation charges. See Note 12: Legal Proceedings, Commitments, and Contingencies for more information.

INCOME TAXES

9 Months Ended

Sep. 30, 2018

INCOME TAXES

As a REIT, we generally are not subject to federal corporate level income taxes on REIT taxable income that is distributed to shareholders. We are required to pay corporate income taxes on earnings of our wholly-owned TRSs, which includes our Wood Products segment and portions of our Timberlands and Real Estate & ENR segments' earnings.

The quarterly provision for income taxes is based on the current estimate of the annual effective tax rate. Our 2018 estimated annual effective tax rate for our TRSs is approximately 25 percent, which is higher than the U.S. domestic statutory federal tax rate primarily due to state income taxes and higher foreign tax rates applicable to foreign earnings.

TAX LEGISLATION

On December 22, 2017, H.R. 1, commonly known as the Tax Cuts and Jobs Act (the "Tax Act"), was enacted. The Tax Act contains significant changes to corporate taxation, including the reduction of the corporate tax rate from 35 percent to 21 percent. As a result of the reduction in the corporate tax rate, we revalued our deferred tax assets and liabilities and recorded a tax expense of $74 million during 2017, which reduced our net deferred tax asset. We were not required to pay a repatriation tax due to the fact that we had no foreign undistributed earnings.

The impact of the Tax Act provisions effective in 2018 is a reduction to our overall estimated annual effective tax rate primarily due to the reduced corporate tax rate.

During first quarter 2018, we adopted ASU 2018-02 which allowed for the reclassification of certain income tax effects related to the Tax Act between accumulated other comprehensive income and retained earnings. Refer to Note 1: Basis of Presentation for further details on this ASU and the related impact on our financial statements.

PENSION CONTRIBUTION TAX ADJUSTMENT

At the end of 2017, we revalued our deferred tax assets (including pension) to the 2018 federal tax rate of 21 percent, as a result of the Tax Act, as discussed above. During third quarter 2018, we announced actions intended to reduce the liabilities of our U.S. qualified pension plan while maintaining the plan’s current funded status and made a decision to contribute $300 million to our U.S. qualified pension plan (refer to Note 8: Pension and Other Postretirement Benefit Plans). We were able to deduct this contribution on our 2017 federal tax return at the 2017 federal tax rate of 35 percent. This resulted in an incremental $41 million tax benefit, for the portion attributable to our TRSs, during third quarter 2018.

ONGOING IRS MATTER

In connection with the merger with Plum Creek, we acquired equity interests in Southern Diversified Timber, LLC, a timberland joint venture (Timberland Venture) with an affiliate of Campbell Global LLC (TCG Member). On August 31, 2016, the Timberland Venture redeemed TCG Member's interest and became a fully consolidated, wholly-owned subsidiary of Weyerhaeuser.

We received a Notice of Final Partnership Administrative Adjustment (FPAA), dated July 20, 2016, from the Internal Revenue Service (IRS) in regard to Plum Creek's 2008 U.S. federal income tax treatment of the transaction forming the Timberland Venture. The IRS is asserting that the transfer of the timberlands to the Timberland Venture was a taxable transaction to Plum Creek at the time of the transfer rather than a nontaxable capital contribution. We have filed a petition in the U.S. Tax Court and will vigorously contest this adjustment.

In the event that we are unsuccessful in this tax litigation, we could be required to recognize and distribute gain to shareholders of approximately $600 million and pay built-in gains tax of approximately $100 million. We would also be required to pay interest on both of those amounts, which would be substantial. As much as 80 percent of any such gain distribution could be made with our common stock, and shareholders would be subject to tax on the distribution at the applicable capital gains tax rate. Alternatively, we could elect to retain the gain and pay corporate-level tax to minimize interest costs to the company.

Although the outcome of this process cannot be predicted with certainty, we are confident in our position based on U.S. tax law and believe we will be successful in defending it. Accordingly, no reserve has been recorded related to this matter.

BASIS OF PRESENTATION (Policies)

9 Months Ended

Sep. 30, 2018

Fair Value of Financial Instruments, Policy [Policy Text Block]

To estimate the fair value of fixed rate long-term debt, we used the following valuation approaches:


•	market approach – based on quoted market prices we received for the same types and issues of our debt; or


•	income approach – based on the discounted value of the future cash flows using market yields for the same type and comparable issues of debt.

We believe that our variable rate long-term debt instruments have net carrying values that approximate their fair values with only insignificant differences.

Earnings Per Share, Policy [Policy Text Block]

Revenue Recognition, Policy [Policy Text Block]

PERFORMANCE OBLIGATIONS

Performance obligations associated with real estate sales are generally met when placed into escrow and all conditions of closing have been satisfied.

CONTRACT ESTIMATES

There are no significant contract estimates related to the real estate business.

CONTRACT BALANCES

Consolidation, Policy [Policy Text Block]

Our consolidated financial statements provide an overall view of our results of operations and financial condition. They include our accounts and the accounts of entities we control, including:


•	majority-owned domestic and foreign subsidiaries and


•	variable interest entities in which we are the primary beneficiary.

They do not include our intercompany transactions and accounts, which are eliminated.

Throughout these Notes to Consolidated Financial Statements, unless specified otherwise, references to “Weyerhaeuser,” “we,” “the company” and “our” refer to the consolidated company.

New Accounting Pronouncements, Policy

NEW ACCOUNTING PRONOUNCEMENTS

Leases

Reclassification of Certain Amounts from Accumulated Other Comprehensive Loss

BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2018

A Reconciliation of Revenue from Segments to Consolidated

A reconciliation of our business segment information to the respective information in the Consolidated Statement of Operations is as follows:



	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018			SEPTEMBER 2017			SEPTEMBER 2018			SEPTEMBER 2017
Sales to unaffiliated customers:
Timberlands	$	468		$	491		$	1,455		$	1,446
Real Estate & ENR	96			82			205			181
Wood Products	1,346			1,299			4,180			3,746
	1,910			1,872			5,840			5,373
Intersegment sales:
Timberlands	185			179			598			544

Total sales	2,095			2,051			6,438			5,917
Intersegment eliminations	(185		)	(179		)	(598		)	(544		)
Total	$	1,910		$	1,872		$	5,840		$	5,373
Net contribution to earnings:
Timberlands⁽¹⁾	$	126		$	131		$	476		$	267
Real Estate & ENR	36			47			83			96
Wood Products⁽²⁾	213			40			812			389
	375			218			1,371			752
Unallocated items⁽³⁾	(42		)	(17		)	(172		)	(113		)
Net contribution to earnings	333			201			1,199			639
Interest expense, net of capitalized interest	(93		)	(98		)	(278		)	(297		)
Earnings before income taxes	240			103			921			342
Income taxes	15			27			(80		)	(31		)
Net earnings	$	255		$	130		$	841		$	311


(1)	Net contribution to earnings for the Timberlands segment includes a noncash pretax impairment charge of $147 million, recorded during second quarter 2017. This impairment was a result of our agreement to sell our Uruguayan operations, as announced during June 2017. Refer to Note 15: Charges for Integration and Restructuring, Closures and Asset Impairments.

(2)


(3)	Unallocated items are gains or charges not related to, or allocated to, an individual operating segment. They include a portion of items such as: share-based compensation expenses, pension and postretirement costs, foreign exchange transaction gains and losses and the elimination of intersegment profit in inventory and LIFO.

REVENUE RECOGNITION (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from External Customer

Revenue by Major Products

MAJOR PRODUCTS

A reconciliation of revenue recognized by our major products:



	QUARTER ENDED				YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018		SEPTEMBER 2017		SEPTEMBER 2018		SEPTEMBER 2017
Net sales:
Timberlands Segment
Delivered logs⁽¹⁾:
West
Domestic sales	$	125	$	102	$	398	$	347
Export sales	113		119		368		326
Subtotal West	238		221		766		673
South	157		155		472		451
North	25		25		70		68
Other	9		17		30		48
Subtotal delivered logs sales	429		418		1,338		1,240
Stumpage and pay-as-cut timber	13		23		39		52
Recreational and other lease revenue	15		16		44		45
Other⁽²⁾	11		34		34		109
Net sales attributable to Timberlands segment	468		491		1,455		1,446
Real Estate & ENR Segment
Real estate	76		64		148		128
Energy and natural resources	20		18		57		53
Net sales attributable to Real Estate & ENR segment	96		82		205		181
Wood Products Segment
Structural lumber	581		525		1,831		1,541
Engineered solid section	132		131		400		378
Engineered I-joists	91		93		261		251
Oriented strand board	215		243		724		671
Softwood plywood	53		45		158		136
Medium density fiberboard	48		48		138		146
Complementary building products	152		146		449		417
Other	74		68		219		206
Net sales attributable to Wood Products segment	1,346		1,299		4,180		3,746
Total net sales	$	1,910	$	1,872	$	5,840	$	5,373

(1)


(2)	Other Timberlands sales include sales of seeds and seedlings, chips, as well as sales from our former Uruguayan operations (sold during third quarter 2017). Our former Uruguayan operations included logs, plywood and hardwood lumber harvested or produced. Refer to Note 4: Operations Divested for further information.

NET EARNINGS PER SHARE AND SHARE REPURCHASES (Tables)

9 Months Ended

Sep. 30, 2018

Dilutive Potential Common Shares

Diluted earnings per share is net earnings divided by the sum of the weighted average number of our outstanding common shares and the effect of our outstanding dilutive potential common shares.



	QUARTER ENDED		YEAR-TO-DATE ENDED
SHARES IN THOUSANDS	SEPTEMBER 2018	SEPTEMBER 2017	SEPTEMBER 2018	SEPTEMBER 2017
Weighted average common shares outstanding – basic	754,986	753,535	756,531	752,301
Dilutive potential common shares:
Stock options	1,370	2,437	1,560	2,754
Restricted stock units	629	551	570	529
Performance share units	404	380	455	474
Total effect of outstanding dilutive potential common shares	2,403	3,368	2,585	3,757
Weighted average common shares outstanding – dilutive	757,389	756,903	759,116	756,058

Potential Shares Not Included in the Computation of Diluted Earnings per Share



	QUARTER ENDED		YEAR-TO-DATE ENDED
SHARES IN THOUSANDS	SEPTEMBER 2018	SEPTEMBER 2017	SEPTEMBER 2018	SEPTEMBER 2017
Stock options	1,166	1,381	1,166	1,381
Performance share units	830	556	830	556

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2018

Inventories

Inventories include raw materials, work-in-process, finished goods, and materials and supplies.



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2018		DECEMBER 31, 2017
LIFO inventories:
Logs	$	16	$	17
Lumber, plywood, panels and fiberboard	63		66
Other products	13		10
FIFO or moving average cost inventories:
Logs	21		38
Lumber, plywood, panels, fiberboard and engineered wood products	107		91
Other products	80		77
Materials and supplies	89		84
Total	$	389	$	383

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)

9 Months Ended

Sep. 30, 2018

Components of Net Periodic Benefit Costs

The components of net periodic benefit cost are:



	PENSION
	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018			SEPTEMBER 2017			SEPTEMBER 2018			SEPTEMBER 2017
Service cost	$	10		$	9		$	28		$	26
Interest cost	58			66			177			198
Expected return on plan assets	(100		)	(101		)	(300		)	(306		)
Amortization of actuarial loss	56			48			169			145
Amortization of prior service cost	1			1			3			3
Total net periodic benefit cost - pension	$	25		$	23		$	77		$	66



	OTHER POSTRETIREMENT BENEFITS
	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018			SEPTEMBER 2017			SEPTEMBER 2018			SEPTEMBER 2017
Interest cost	$	2		$	2		$	5		$	6
Amortization of actuarial loss	2			2			6			6
Amortization of prior service credit	(2		)	(2		)	(6		)	(6		)
Total net periodic benefit cost - other postretirement benefits	$	2		$	2		$	5		$	6

ACCRUED LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2018

Accrued Liabilities

Accrued liabilities were comprised of the following:



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2018		DECEMBER 31, 2017
Accrued compensation and employee benefit costs	$	184	$	223
Accrued taxes payable	40		43
Customer rebates, volume discounts and deferred income	110		96
Interest	84		111
Product remediation accrual	4		98
Other	69		74
Total	$	491	$	645

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Estimated Fair Values and Carrying Values of Long-Term Debt

The estimated fair values and carrying values of our long-term debt consisted of the following:



	SEPTEMBER 30, 2018				DECEMBER 31, 2017
DOLLAR AMOUNTS IN MILLIONS	CARRYING VALUE		FAIR VALUE (LEVEL 2)		CARRYING VALUE		FAIR VALUE (LEVEL 2)
Long-term debt (including current maturities)⁽¹⁾:
Fixed rate	$	5,697	$	6,378	$	5,768	$	6,823
Variable rate	224		225		224		225
Total debt	$	5,921	$	6,603	$	5,992	$	7,048


(1)	Excludes nonrecourse debt held by our Variable Interest Entities (VIEs).

ACCUMLATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2018

Items included in accumulated other comprehensive loss

Changes in amounts included in our accumulated other comprehensive loss by component are:



				PENSION						OTHER POSTRETIREMENT BENEFITS
DOLLAR AMOUNTS IN MILLIONS	Foreign currency translation adjustments			Actuarial loss			Prior service cost			Actuarial loss			Prior service credit			Unrealized gains on available-for-sale securities			Total
Beginning balance as of December 31, 2017	$	264		$	(1,802	)	$	(8	)	$	(48	)	$	23		$	9		$	(1,562	)
Other comprehensive income (loss) before reclassifications⁽¹⁾	(16		)	159			—			—			—			—			143
Amounts reclassified from accumulated other comprehensive loss to earnings⁽¹⁾⁽²⁾	—			127			1			5			(4		)	—			129
Total other comprehensive income (loss)	(16		)	286			1			5			(4		)	—			272
Reclassification of certain tax effects due to tax law changes⁽³⁾	—			(245		)	(1		)	(12		)	5			—			(253		)
Reclassification of accumulated unrealized gains on available-for-sale securities⁽⁴⁾	—			—			—			—			—			(9		)	(9		)
Net amounts reclassified from accumulated other comprehensive loss to retained earnings	—			(245		)	(1		)	(12		)	5			(9		)	(262		)
Ending balance as of September 30, 2018	$	248		$	(1,761	)	$	(8	)	$	(55	)	$	24		$	—		$	(1,552	)


(1)	Amounts are presented net of tax.


(2)	Amortization of actuarial loss and prior service (cost) credit are components of net periodic benefit cost (credit). See Note 8: Pension and Other Postretirement Benefit Plans.


(3)	We reclassified certain tax effects from tax law changes of $253 million from "Accumulated other comprehensive loss" to "Retained earnings" on our Consolidated Balance Sheet in accordance with ASU 2018-02. See Note 1: Basis of Presentation.


(4)	We reclassified accumulated unrealized gains from available-for-sale securities of $9 million from "Accumulated other comprehensive loss" to "Retained earnings" on our Consolidated Balance Sheet in accordance with ASU 2016-01. See Note 1: Basis of Presentation.

SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Share-based Compensation Activity

Share-based compensation activity during year-to-date 2018 included the following:



SHARES IN THOUSANDS	Granted	Vested
Restricted Stock Units (RSUs)	731	595
Performance Share Units (PSUs)	344	112

Weighted Average Assumptions Used in Estimating the Value of Performance Share Units Granted

Weighted Average Assumptions Used in Estimating the Value of Performance Share Units Granted in 2018



	Performance Share Units
Performance period	1/1/2018		–	12/31/2020
Valuation date average stock price⁽¹⁾				$34.14
Expected dividends				3.81%
Risk-free rate	1.75	%	–	2.34%
Expected volatility	17.30	%	–	21.52%


(1)	Calculated as an average of the high and low prices on grant date.

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Restructuring Cost and Reserve [Line Items]

Items Included in Our Integration and Restructuring, Closure and Asset Impairment Charges



	QUARTER ENDED				YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018		SEPTEMBER 2017		SEPTEMBER 2018		SEPTEMBER 2017
Integration and restructuring charges related to Plum Creek	$	—	$	6	$	—	$	20
Charges related to closures and other restructuring activities	—		2		1		5
Impairments of long-lived assets	—		6		1		153
Total charges for integration and restructuring, closures and asset impairments	$	—	$	14	$	2	$	178

OTHER OPERATING COSTS (INCOME), NET (Tables)

9 Months Ended

Sep. 30, 2018

Items Included in Other Operating Costs (Income), Net

ITEMS INCLUDED IN OTHER OPERATING COSTS (INCOME), NET



	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2018			SEPTEMBER 2017			SEPTEMBER 2018			SEPTEMBER 2017
Gain on disposition of nonstrategic assets	$	(1	)	$	(5	)	$	(4	)	$	(14	)
Foreign exchange losses (gains), net	2			(3		)	2			—
Litigation expense, net	10			8			23			14
Other, net⁽¹⁾	10			(12		)	45			2
Total other operating costs (income), net	$	21		$	(12	)	$	66		$	2


(1)	"Other, net" includes environmental remediation charges. See Note 12: Legal Proceedings, Commitments, and Contingencies for more information.

BASIS OF PRESENTATION Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2018	Sep. 30, 2018
Reclassification of certain tax affects from tax law changes, 2018-02		$ 253
Reclassification of accumulated unrealized gains on available-for-sale securities, ASU 2016-01		$ 9
Adjustments for New Accounting Principle, Early Adoption
Reclassification of certain tax affects from tax law changes, 2018-02	$ 253
Reclassification of accumulated unrealized gains on available-for-sale securities, ASU 2016-01	$ 9

BUSINESS SEGMENTS Reconciliation from Segment Totals to Consolidated (Details) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting, Revenue Reconciling Item
Charges for impairment of assets	$ 0			$ 6,000,000	$ 147,000,000	$ 1,000,000	$ 153,000,000
Insurance recoveries	0
Sales to unaffiliated customers	1,910,000,000			1,872,000,000		5,840,000,000	5,373,000,000
Third party and intersegment revenue, net	2,095,000,000			2,051,000,000		6,438,000,000	5,917,000,000
Net contribution to earnings	333,000,000			201,000,000		1,199,000,000	639,000,000
Interest expense, net of capitalized interest	(93,000,000)			(98,000,000)		(278,000,000)	(297,000,000)
Earnings before income taxes	240,000,000			103,000,000		921,000,000	342,000,000
Income taxes	15,000,000			27,000,000		(80,000,000)	(31,000,000)
Net earnings	255,000,000			130,000,000		841,000,000	311,000,000
Charges (recoveries) for product remediation, net	0			190,000,000		0	240,000,000
Intersegment eliminations
Segment Reporting, Revenue Reconciling Item
Intersegment sales	(185,000,000)			(179,000,000)		(598,000,000)	(544,000,000)
Operating segments
Segment Reporting, Revenue Reconciling Item
Net contribution to earnings	375,000,000			218,000,000		1,371,000,000	752,000,000
Unallocated items
Segment Reporting, Revenue Reconciling Item
Net contribution to earnings	(42,000,000)			(17,000,000)		(172,000,000)	(113,000,000)
Timberlands
Segment Reporting, Revenue Reconciling Item
Charges for impairment of assets					$ 147,000,000
Sales to unaffiliated customers	468,000,000			491,000,000		1,455,000,000	1,446,000,000
Intersegment sales	185,000,000			179,000,000		598,000,000	544,000,000
Net contribution to earnings	126,000,000			131,000,000		476,000,000	267,000,000
RE & ENR
Segment Reporting, Revenue Reconciling Item
Sales to unaffiliated customers	96,000,000			82,000,000		205,000,000	181,000,000
Net contribution to earnings	36,000,000			47,000,000		83,000,000	96,000,000
Wood Products
Segment Reporting, Revenue Reconciling Item
Charges for impairment of assets				6,000,000
Insurance recoveries		$ 5,000,000	$ 20,000,000			25,000,000
Sales to unaffiliated customers	1,346,000,000			1,299,000,000		4,180,000,000	3,746,000,000
Net contribution to earnings	$ 213,000,000			40,000,000		812,000,000	389,000,000
Charges (recoveries) for product remediation, net		$ 25,000,000		$ 190,000,000		$ 25,000,000	$ 240,000,000

REVENUE RECOGNITION (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
REVENUE RECOGNITION (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue from External Customer
Revenues	$ 1,910	$ 1,872	$ 5,840	$ 5,373
Timberlands
Revenue from External Customer
Revenues	468	491	1,455	1,446
Timberlands \| Delivered logs
Revenue from External Customer
Revenues	429	418	1,338	1,240
Timberlands \| Stumpage and pay-as-cut timber
Revenue from External Customer
Revenues	13	23	39	52
Timberlands \| Recreational and other lease revenue
Revenue from External Customer
Revenues	15	16	44	45
Timberlands \| Other
Revenue from External Customer
Revenues	11	34	34	109
Timberlands \| West \| Delivered logs
Revenue from External Customer
Revenues	238	221	766	673
Timberlands \| South \| Delivered logs
Revenue from External Customer
Revenues	157	155	472	451
Timberlands \| North \| Delivered logs
Revenue from External Customer
Revenues	25	25	70	68
Timberlands \| Other \| Delivered logs
Revenue from External Customer
Revenues	9	17	30	48
Timberlands \| Domestic sales \| West \| Delivered logs
Revenue from External Customer
Revenues	125	102	398	347
Timberlands \| Export sales \| West \| Delivered logs
Revenue from External Customer
Revenues	113	119	368	326
RE & ENR
Revenue from External Customer
Revenues	96	82	205	181
RE & ENR \| Real estate
Revenue from External Customer
Revenues	76	64	148	128
RE & ENR \| Energy and natural resources
Revenue from External Customer
Revenues	20	18	57	53
Wood Products
Revenue from External Customer
Revenues	1,346	1,299	4,180	3,746
Wood Products \| Structural lumber
Revenue from External Customer
Revenues	581	525	1,831	1,541
Wood Products \| Engineered solid section
Revenue from External Customer
Revenues	132	131	400	378
Wood Products \| Engineered I-joists
Revenue from External Customer
Revenues	91	93	261	251
Wood Products \| Oriented strand board
Revenue from External Customer
Revenues	215	243	724	671
Wood Products \| Softwood plywood
Revenue from External Customer
Revenues	53	45	158	136
Wood Products \| Medium density fiberboard
Revenue from External Customer
Revenues	48	48	138	146
Wood Products \| Complementary building products
Revenue from External Customer
Revenues	152	146	449	417
Wood Products \| Other
Revenue from External Customer
Revenues	$ 74	$ 68	$ 219	$ 206

OPERATIONS DIVESTED Additional Details (Details) $ in Millions	3 Months Ended
	Sep. 30, 2017 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on divestiture of business	$ 0
Uruguayan Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses	$ 403

NET EARNINGS PER SHARE AND SHARE REPURCHASES Dilutive Potential Common Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Basic	754,986	753,535	756,531	752,301
Dilutive potential common shares	2,403	3,368	2,585	3,757
Diluted	757,389	756,903	759,116	756,058
Stock options
Dilutive potential common shares	1,370	2,437	1,560	2,754
Restricted stock units
Dilutive potential common shares	629	551	570	529
Performance share units
Dilutive potential common shares	404	380	455	474

NET EARNINGS PER SHARE AND SHARE REPURCHASES Potential Shares Not Included in the Computation of Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential shares not included in the computation of diluted earnings per share	1,166	1,381	1,166	1,381
Performance share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential shares not included in the computation of diluted earnings per share	830	556	830	556

NET EARNINGS PER SHARE AND SHARE REPURCHASES Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Nov. 08, 2015
Stock Repurchase Program, Authorized Amount						$ 2,500
Earnings per share, basic and diluted	$ 0.34	$ 0.17	$ 1.11	$ 0.41
Stock Repurchased During Period, Shares	8,583,244		8,585,844
Payments for Repurchase of Common Stock (including unsettled repurchases)	$ 290		$ 291
Stock Repurchase Program, Remaining Authorized Repurchase Amount	210		210
Unsettled Share Repurchases [Member]
Unsettled Share Repurchases	$ 18		$ 18		$ 0

INVENTORIES Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Inventory [Line Items]
Total	$ 389	$ 383
Logs
Inventory [Line Items]
LIFO inventories	16	17
FIFO or moving average cost inventories	21	38
Lumber, plywood, panels and fiberboard
Inventory [Line Items]
LIFO inventories	63	66
Lumber, plywood, panels, fiberboard and engineered wood products
Inventory [Line Items]
FIFO or moving average cost inventories	107	91
Other products
Inventory [Line Items]
LIFO inventories	13	10
FIFO or moving average cost inventories	80	77
Materials and supplies
Inventory [Line Items]
FIFO or moving average cost inventories	$ 89	$ 84

INVENTORIES Additional information (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Inventory [Line Items]
Increase in inventory amount if FIFO would have been used	$ 69	$ 70

SPECIAL-PURPOSE ENTITIES Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
SPE Transaction
SPE short-term notes	$ 511	$ 209
SPE restricted financial investments	253	0
Monetization SPEs, December 31, 2018
SPE Transaction
SPE short-term notes	$ 209	$ 0
Debt instrument, maturity date	Dec. 31, 2018
Buyer Sponsored SPEs
SPE Transaction
SPE restricted financial investments	$ 253
Investment maturity date	Mar. 31, 2019
Monetization SPEs, September 30, 2019
SPE Transaction
SPE short-term notes	$ 302
Debt instrument, maturity date	Sep. 30, 2019

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Components of Net Periodic Benefit Costs (Credits) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 10	$ 9	$ 28	$ 26
Interest cost	58	66	177	198
Expected return on plan assets	(100)	(101)	(300)	(306)
Amortization of actuarial loss	56	48	169	145
Amortization of prior service cost	1	1	3	3
Total net periodic benefit cost	25	23	77	66
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	2	2	5	6
Amortization of actuarial loss	2	2	6	6
Amortization of prior service cost	(2)	(2)	(6)	(6)
Total net periodic benefit cost	$ 2	$ 2	$ 5	$ 6

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Period Increase (Decrease)		$ 44
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)		(155)
Defined Benefit Plan Funded Status Period Increase (Decrease)		$ 199
Registered Canadian Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2018	$ 24		$ 24
Non Registered Canadian Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2018	2		2
U.S. Non-Qualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2018	19		19
U.S. Qualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Pension Contribution	300		300
U.S. and Canadian Other Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2018	$ 19		$ 19

ACCRUED LIABILITIES Accrued Liabilities (Detail) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Accrued compensation and employee benefit costs	$ 184	$ 223
Accrued taxes payable	40	43
Customer rebates, volume discounts and deferred income	110	96
Interest	84	111
Product remediation accrual	4	98
Other	69	74
Total	$ 491	$ 645

LONG-TERM DEBT AND LINES OF CREDIT Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2018	Sep. 30, 2018	Mar. 31, 2017
line of credit expiration date		Mar. 31, 2022
Line of credit, maximum borrowing capacity		$ 1,500
Revolving line of credit, outstanding balance		$ 0
Prior Credit Facility
Line of credit, maximum borrowing capacity			$ 1,000
7.00 Debenture [Member]
Repayments of debt	$ 62

FAIR VALUE OF FINANCIAL INSTRUMENTS Estimated Fair Values and Carrying Values of Long-Term Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, including current maturities	$ 5,921	$ 5,992
Fair Value, Inputs, Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, fair value	6,603	7,048
Fixed interest rate
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, including current maturities	5,697	5,768
Fixed interest rate \| Fair Value, Inputs, Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, fair value	6,378	6,823
Variable interest rate
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, including current maturities	224	224
Variable interest rate \| Fair Value, Inputs, Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, fair value	$ 225	$ 225

LEGAL PROCEEDINGS, COMMITMENTS AND CONTINGENCIES Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Sep. 30, 2018
Commitments and Contingencies Disclosure [Line Items]
Environmental remediation expense	$ 28
Accrued estimated remediation costs		$ 67
Asset retirement obligations		$ 30

ACCUMLATED OTHER COMPREHENSIVE LOSS Items Included in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Beginning balance			$ (1,562)
Other comprehensive income (loss) before reclassifications(1)			143
Amounts reclassified from accumulated other comprehensive loss to earnings(1)(2)			129
Total other comprehensive income (loss)	$ 51	$ 42	272	$ 122
Reclassification of certain tax affects due to tax law changes(3)			(253)
Reclassification of accumulated unrealized gains on available-for-sale securities(4)			(9)
Net amounts reclassified from accumulated other comprehensive loss to retained earnings			(262)
Ending balance	(1,552)		(1,552)
Foreign currency translation adjustments
Beginning balance			264
Other comprehensive income (loss) before reclassifications(1)			(16)
Amounts reclassified from accumulated other comprehensive loss to earnings(1)(2)			0
Total other comprehensive income (loss)			(16)
Reclassification of certain tax affects due to tax law changes(3)			0
Reclassification of accumulated unrealized gains on available-for-sale securities(4)			0
Net amounts reclassified from accumulated other comprehensive loss to retained earnings			0
Ending balance	248		248
Actuarial loss \| Pension
Beginning balance			(1,802)
Other comprehensive income (loss) before reclassifications(1)			159
Amounts reclassified from accumulated other comprehensive loss to earnings(1)(2)			127
Total other comprehensive income (loss)			286
Reclassification of certain tax affects due to tax law changes(3)			(245)
Reclassification of accumulated unrealized gains on available-for-sale securities(4)			0
Net amounts reclassified from accumulated other comprehensive loss to retained earnings			(245)
Ending balance	(1,761)		(1,761)
Actuarial loss \| Other Postretirement Benefits
Beginning balance			(48)
Other comprehensive income (loss) before reclassifications(1)			0
Amounts reclassified from accumulated other comprehensive loss to earnings(1)(2)			5
Total other comprehensive income (loss)			5
Reclassification of certain tax affects due to tax law changes(3)			(12)
Reclassification of accumulated unrealized gains on available-for-sale securities(4)			0
Net amounts reclassified from accumulated other comprehensive loss to retained earnings			(12)
Ending balance	(55)		(55)
Prior service (costs) credits \| Pension
Beginning balance			(8)
Other comprehensive income (loss) before reclassifications(1)			0
Amounts reclassified from accumulated other comprehensive loss to earnings(1)(2)			1
Total other comprehensive income (loss)			1
Reclassification of certain tax affects due to tax law changes(3)			(1)
Reclassification of accumulated unrealized gains on available-for-sale securities(4)			0
Net amounts reclassified from accumulated other comprehensive loss to retained earnings			(1)
Ending balance	(8)		(8)
Prior service (costs) credits \| Other Postretirement Benefits
Beginning balance			23
Other comprehensive income (loss) before reclassifications(1)			0
Amounts reclassified from accumulated other comprehensive loss to earnings(1)(2)			(4)
Total other comprehensive income (loss)			(4)
Reclassification of certain tax affects due to tax law changes(3)			5
Reclassification of accumulated unrealized gains on available-for-sale securities(4)			0
Net amounts reclassified from accumulated other comprehensive loss to retained earnings			5
Ending balance	24		24
Unrealized gains on available-for-sale securities
Beginning balance			9
Other comprehensive income (loss) before reclassifications(1)			0
Amounts reclassified from accumulated other comprehensive loss to earnings(1)(2)			0
Total other comprehensive income (loss)			0
Reclassification of certain tax affects due to tax law changes(3)			0
Reclassification of accumulated unrealized gains on available-for-sale securities(4)			(9)
Net amounts reclassified from accumulated other comprehensive loss to retained earnings			(9)
Ending balance	$ 0		$ 0

SHARE-BASED COMPENSATION Schedule of Share-Based Compensation Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2018 shares
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	731
Vested	595
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	344
Vested	112

SHARE-BASED COMPENSATION Weighted Average Assumptions Used in Estimating the Value of Performance Share Units Granted (Details) - Performance share units	9 Months Ended
	Sep. 30, 2018 $ / shares Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Valuation date average stock price(1) \| $ / shares	$ 34.14
Expected dividends	3.81%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	1/1/2018
Risk-free rate minimum	1.75%
Expected volatility minimum	17.30%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	12/31/2020
Risk-free rate maximum	2.34%
Expected volatility maximum	21.52%

SHARE-BASED COMPENSATION Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period	2,600,000.00
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of units granted	$ 34.10
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of units granted	$ 35.49
Performance share units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Final number of shares awarded of each grant's target	0.00%
Performance share units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Final number of shares awarded of each grant's target	150.00%
Value management awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target level vesting rate		$ 100

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS Items Included in Our Integration and Restructuring, Closure and Asset Impairment Charges (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Charges related to integration and restructuring
Impairments of long-lived assets	$ 0	$ 6	$ 147	$ 1	$ 153
Total charges for integration and restructuring, closures and asset impairments	0	14		2	178
Plum Creek
Charges related to integration and restructuring
Integration and restructuring charges related to Plum Creek	0	6		0	20
Other
Charges related to integration and restructuring
Charges related to closures and other restructuring activities	$ 0	$ 2		$ 1	$ 5

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Restructuring Cost and Reserve [Line Items]
Impairments of long-lived assets	$ 0	$ 6	$ 147	$ 1	$ 153
Wood Products
Restructuring Cost and Reserve [Line Items]
Impairments of long-lived assets		6
Uruguayan Operations
Restructuring Cost and Reserve [Line Items]
Proceeds from divestiture of businesses		$ 403

CHARGES (RECOVERIES) FOR PRODUCT REMEDIATION, NET (Details) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Commitments and Contingencies Disclosure [Line Items]
Insurance recoveries	$ 0
Charges (recoveries) for product remediation, net	$ 0			$ 190,000,000	$ 0	$ 240,000,000
Wood Products
Commitments and Contingencies Disclosure [Line Items]
Insurance recoveries		$ 5,000,000	$ 20,000,000		25,000,000
Charges (recoveries) for product remediation, net		$ 25,000,000		$ 190,000,000	$ 25,000,000	$ 240,000,000

OTHER OPERATING COSTS (INCOME), NET Items Included in Other Operating Costs (Income), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Gain on disposition of nonstrategic assets	$ (1)	$ (5)	$ (4)	$ (14)
Foreign exchange losses (gains), net	2	(3)	2	0
Litigation expense, net	10	8	23	14
Other, net(1)	10		45	2
Other Operating Income		(12)
Total other operating costs (income), net	$ 21	$ (12)	$ 66	$ 2

INCOME TAXES Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
INCOME TAXES Additional Information (Detail) - USD ($)	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2017
Estimated annual effective tax rate for our Taxable REIT Subsidiary		25.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%	35.00%
Tax affect of U.S. Corporate rate change			$ 74,000,000
Tax provision benefit		$ 41,000,000
Gain from potential tax adjustment		600,000,000
Tax liability from potential adjustment		100,000,000
Estimated Litigation Liability	$ 0	$ 0
Maximum
Percentage of gain distributed in common stock	80.00%	80.00%
Qualified Pension Plans
Pension Contribution	$ 300,000,000	$ 300,000,000