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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2017	Oct. 23, 2017
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, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		754,829,417

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales	$ 1,872	$ 1,709	$ 5,373	$ 4,769
Costs of products sold	1,374	1,328	3,982	3,702
Gross margin	498	381	1,391	1,067
Selling expenses	22	22	66	67
General and administrative expenses	75	80	238	253
Research and development expenses	4	5	12	14
Charges for integration and restructuring, closures and asset impairments (Note 15)	14	16	178	141
Charges for product remediation (Note 16)	190	0	240	0
Other operating costs (income), net (Note 17)	(12)	(3)	2	(56)
Operating income	205	261	655	648
Equity earnings from joint ventures (Note 7)	1	9	1	21
Non-operating pension and other postretirement benefit (costs) credits	(16)	13	(46)	37
Interest income and other	11	15	29	34
Interest expense, net of capitalized interest	(98)	(114)	(297)	(323)
Earnings from continuing operations before income taxes	103	184	342	417
Income taxes (Note 18)	27	(22)	(31)	(64)
Earnings from continuing operations	130	162	311	353
Earnings from discontinued operations, net of income taxes (Note 3)	0	65	0	123
Net earnings	130	227	311	476
Dividends on preference shares (Note 5)	0	0	0	(22)
Net earnings attributable to Weyerhaeuser common shareholders	$ 130	$ 227	$ 311	$ 454
Earnings per share attributable to Weyerhaeuser common shareholders, basic (Note 5):
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.17	$ 0.22	$ 0.41	$ 0.47
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share	0.00	0.08	0.00	0.17
Earnings Per Share, Basic	0.17	0.30	0.41	0.64
Earnings per share attributable to Weyerhaeuser common shareholders, diluted (Note 5)
Income (Loss) from Continuing Operations, Per Diluted Share	0.17	0.21	0.41	0.46
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share	0.00	0.09	0.00	0.18
Earnings Per Share, Diluted	0.17	0.30	0.41	0.64
Dividends paid per share	$ 0.31	$ 0.31	$ 0.93	$ 0.93
Weighted average shares outstanding (in thousands) (Note 5):
Basic	753,535	749,587	752,301	708,395
Diluted	756,903	754,044	756,058	712,205

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net earnings	$ 130	$ 227	$ 311	$ 476
Other comprehensive income (loss):
Foreign currency translation adjustments	24	(5)	35	34
Actuarial gains, net of tax expense of $12, $15, $62 and $40	18	29	90	70
Prior service costs, net of tax benefit of $0, $0, $1 and $0	(1)	(1)	(5)	(3)
Unrealized gains on available-for-sale securities	1	0	2	1
Total other comprehensive income	42	23	122	102
Total comprehensive income	$ 172	$ 250	$ 433	$ 578

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Tax expense (benefit) of actuarial gains (losses)	$ 12	$ 15	$ 62	$ 40
Tax expense (benefit) of prior service credits (costs)	$ 0	$ 0	$ (1)	$ 0

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 497	$ 676
Receivables, less discounts and allowances of $1 and $1	485	390
Receivables for taxes	65	84
Inventories (Note 6)	340	358
Prepaid expenses and other current assets	130	114
Total current assets	1,517	1,622
Property and equipment, less accumulated depreciation of $3,417 and $3,306	1,534	1,562
Construction in progress	225	213
Timber and timberlands at cost, less depletion charged to disposals	13,627	14,299
Minerals and mineral rights, less depletion	312	319
Investments in and advances to joint ventures (Note 7)	33	56
Goodwill	40	40
Deferred tax assets	240	293
Other assets	259	224
Restricted financial investments held by variable interest entities	615	615
Total assets	18,402	19,243
Liabilities
Current maturities of long-term debt (Note 10)	62	281
Accounts payable	259	233
Accrued liabilities (Note 9)	702	692
Total current liabilities	1,023	1,206
Long-term debt (Note 10)	5,933	6,329
Long-term debt (nonrecourse to the company) held by variable interest entities	511	511
Deferred pension and other postretirement benefits (Note 8)	1,201	1,322
Deposit from contribution of timberlands to related party (Note 7)	416	426
Other liabilities	273	269
Total liabilities	9,357	10,063
Commitments and contingencies (Note 12)
Equity:
Common shares: $1.25 par value; authorized 1,360,000,000 shares; issued and outstanding: 753,050,533 and 748,528,131 shares	941	936
Other capital	8,391	8,282
Retained earnings	1,050	1,421
Cumulative other comprehensive loss (Note 13)	(1,337)	(1,459)
Total equity	9,045	9,180
Total liabilities and equity	$ 18,402	$ 19,243

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Receivables, allowances	$ 1	$ 1
Property and equipment, accumulated depreciation	$ 3,393	$ 3,306
Common shares, par value	$ 1.25	$ 1.25
Common shares, authorized	1,360,000,000	1,360,000,000
Common shares, issued	753,050,533	748,528,131
Common shares, outstanding	753,050,533	748,528,131

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operations:
Net earnings	$ 311	$ 476
Noncash charges (credits) to earnings:
Depreciation, depletion and amortization	394	428
Basis of real estate sold	48	49
Deferred income taxes, net	9	96
Pension and other postretirement benefits (Note 8)	72	5
Share-based compensation expense	29	53
Charges for impairment of assets	153	23
Equity (earnings) loss from joint ventures (Note 7)	(1)	(18)
Net gains on disposition of assets and operations	(15)	(121)
Foreign exchange transaction (gains) losses (Note 17)	0	(11)
Change in:
Receivables less allowances	(113)	(96)
Receivable/payable for taxes	(116)	37
Inventories	4	49
Prepaid expenses	(9)	(3)
Accounts payable and accrued liabilities	184	61
Pension and postretirement contributions (Note 8)	(59)	(83)
Distributions of earnings received from joint ventures (Note 7)	1	5
Other	(45)	(64)
Net cash from operations	847	886
Cash flows from investing activities:
Capital expenditures for property and equipment	(213)	(260)
Capital expenditures for timberlands reforestation	(46)	(43)
Acquisition of timberlands	0	(10)
Proceeds from sale of assets and operations	423	379
Proceeds from contribution of timberlands to related party	0	440
Distributions of investment received from joint ventures (Note 7)	23	34
Cash and cash equivalents acquired in Plum Creek merger (Note 4)	0	9
Other	5	42
Cash from investing activities	192	591
Cash flows from financing activities:
Cash dividends on common shares	(699)	(700)
Cash dividends on preference shares	0	(22)
Proceeds from issuance of long-term debt (Note 10)	225	1,698
Proceeds from borrowing on line of credit (Note 10)	100	0
Payments of long-term debt (Note 10)	(831)	(723)
Payments of line of credit (Note 10)	(100)	0
Repurchase of common stock	0	(2,003)
Proceeds from exercise of stock options	89	48
Other	(2)	(8)
Cash used in financing activities	(1,218)	(1,710)
Net change in cash and cash equivalents	(179)	(233)
Cash and cash equivalents from continuing operations at beginning of period	676	1,011
Cash and cash equivalents from discontinued operations at beginning of period	0	1
Cash and cash equivalents at beginning of period		1,012
Cash and cash equivalents from continuing operations at end of period	497	769
Cash and cash equivalents from discontinued operations at end of period	0	10
Cash and cash equivalents at end of period		779
Cash paid (received) during the period for:
Interest, net of amount capitalized of $6 and $5	315	367
Income taxes	$ 129	$ (26)

CONSOLIDATED STATEMENT OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Interest, amount capitalized	$ 6	$ 5

BASIS OF PRESENTATION

9 Months Ended

Sep. 30, 2017

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 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, 2016. Results of operations for interim periods should not necessarily be regarded as indicative of the results that may be expected for the full year.

RECLASSIFICATIONS

We have reclassified certain balances and results from the prior year to be consistent with our 2017 reporting. This makes year-to-year comparisons easier. Our reclassifications had no effect on consolidated net earnings or equity. Our reclassifications present the adoption of new accounting pronouncements on our Consolidated Statement of Operations and in the related footnotes. Refer to discussion of new accounting pronouncements below.

NEW ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, a comprehensive new revenue recognition model that requires an entity to recognize revenue to depict the transfer of goods or services to customers at an amount that reflects the consideration it expects to receive in exchange for those goods or services. In August 2015, FASB issued ASU 2015-14, which deferred the effective date for an additional year. In March 2016, FASB issued ASU 2016-08, which does not change the core principle of the guidance; however, it does clarify the implementation guidance on principal versus agent considerations. In April 2016, FASB issued ASU 2016-10, which clarifies two aspects of ASU 2014-09: identifying performance obligations and the licensing implementation guidance. In May 2016, FASB issued ASU 2016-12, which amends ASU 2014-09 to provide improvements and practical expedients to the new revenue recognition model. In December 2016, the FASB issued ASU 2016-20, which amends ASU 2014-09 for technical corrections and to correct for unintended application of the guidance. In February 2017, FASB issued ASU 2017-05, which clarifies the scope of ASC 610-20 and impacts accounting for partial sales of nonfinancial assets.

The company expects to adopt and implement the new revenue recognition guidance effective January 1, 2018. The new standard is required to be applied retrospectively to each prior reporting period presented (full retrospective transition method) or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application (cumulative effect method). We expect to adopt using the cumulative effect method. We expect that the adoption of the new revenue recognition guidance will not materially impact our operating results, balance sheet, or cash flows. We expect an impact to our financial reporting from adding expanded disclosures.

In July 2015, FASB issued ASU 2015-11, which simplifies the measurement of inventories valued under most methods, including our inventories valued under FIFO – the first-in, first-out – and moving average cost methods. Inventories valued under LIFO – the last-in, first-out method – are excluded. Under this new guidance, inventories valued under these methods would be valued at the lower of cost or net realizable value, with net realizable value defined as the estimated selling price less reasonable costs to sell the inventory. We adopted ASU 2015-11 on January 1, 2017, and determined this pronouncement does not have a material impact on our consolidated financial statements and related disclosures.

In February 2016, FASB issued ASU 2016-02, which requires lessees to recognize assets and liabilities for the rights and obligations created by those leases and requires both capital and operating 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 expect to adopt ASU 2016-02 on January 1, 2019, and are evaluating the impact on our consolidated financial statements and related disclosures.

In October 2016, FASB issued ASU 2016-16, which requires immediate recognition of the income tax consequences upon intra-entity transfers of assets other than inventory. The new guidance is effective for annual periods beginning after December 15, 2017, and early adoption is permitted. We adopted this accounting standard on January 1, 2017. As a result of this adoption, our opening balance sheet was adjusted through "Retained earnings" to include a deferred tax asset of $22 million for prior period intra-entity transfers. Adoption of this standard did not have a material impact on our Consolidated Statement of Cash Flows or Consolidated Statement of Operations.

In March 2017, FASB issued ASU 2017-07, which requires that an employer report the service cost component of pension and other postretirement benefit costs in the Consolidated Statement of Operations in the same line item or items as other compensation costs arising from services rendered by the pertinent employees. This requirement is consistent with how we have historically presented our pension service costs. The other requirement of ASU 2017-07 is to present the remaining components of pension and other postretirement benefit costs (i.e., interest, expected return on plan assets, amortization of actuarial gains or losses, and amortization of prior service credits or costs) in the Consolidated Statement of Operations separately from the service cost component and outside a subtotal of income from operations. The new guidance is effective for annual periods beginning after December 15, 2017, and early adoption is permitted. We adopted this accounting standard as of January 1, 2017. As a result, we reclassified amounts related to other components of pension and other post retirement benefit costs from their prior financial statements captions ("Costs of products sold," "General and administrative expenses," and "Other operating costs (income), net") into a new financial statement caption titled "Non-operating pension and other postretirement benefit (costs) credits" in our Consolidated Statement of Operations. The adoption of ASU 2017-07 did not impact "Net earnings," nor did it impact our Consolidated Balance Sheet.

BUSINESS SEGMENTS

9 Months Ended

Sep. 30, 2017

BUSINESS SEGMENTS

Reportable business segments are determined based on the company’s "management approach," as defined by FASB ASC 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 (as defined and described in Note 7: Related Parties); and


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

An analysis and reconciliation of our business segment information to the respective information in the Consolidated Statements of Operations is as follows:



	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2017			SEPTEMBER 2016			SEPTEMBER 2017			SEPTEMBER 2016
Sales to unaffiliated customers:
Timberlands	$	491		$	484		$	1,446		$	1,342
Real Estate & ENR	82			48			181			125
Wood Products	1,299			1,177			3,746			3,302
	1,872			1,709			5,373			4,769
Intersegment sales:
Timberlands	179			216			544			631
Wood Products	—			17			—			61
	179			233			544			692
Total sales	2,051			1,942			5,917			5,461
Intersegment eliminations	(179		)	(233		)	(544		)	(692		)
Total	$	1,872		$	1,709		$	5,373		$	4,769
Net contribution to earnings:
Timberlands ⁽¹⁾	$	131		$	122		$	267		$	376
Real Estate & ENR⁽²⁾	47			15			96			42
Wood Products ⁽³⁾	40			170			389			413
	218			307			752			831
Unallocated items⁽⁴⁾	(17		)	(9		)	(113		)	(91		)
Net contribution to earnings	201			298			639			740
Interest expense, net of capitalized interest	(98		)	(114		)	(297		)	(323		)
Earnings from continuing operations before income taxes	103			184			342			417
Income taxes	27			(22		)	(31		)	(64		)
Earnings from continuing operations	130			162			311			353
Earnings from discontinued operations, net of income taxes ⁽⁵⁾	—			65			—			123
Net earnings	130			227			311			476
Dividends on preference shares	—			—			—			(22		)
Net earnings attributable to Weyerhaeuser common shareholders	$	130		$	227		$	311		$	454

(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, which was announced in June 2017 and completed on September 1, 2017. Refer to Note 3: Discontinued Operations and Other Divestitures for more information regarding this transaction.


(2)	The Real Estate & ENR segment includes the equity earnings from, investments in and advances to our Real Estate Development Ventures (as defined and described in Note 7: Related Parties), which are accounted for under the equity method.

(3)

Net contribution to earnings for the Wood Products segment includes pretax charges of $190 million and $240 million incurred in the quarter and year-to-date period ended September 30, 2017, respectively, to accrue for estimated costs to remediate an issue with certain I-joists coated with our Flak Jacket® Protection product. Refer to Note 16: Charges for Product Remediation for additional details.

(4)

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, pension and postretirement costs, foreign exchange transaction gains and losses associated with financing, and the elimination of intersegment profit in inventory and the LIFO reserve. Additionally, amounts shown for 2016 include equity earnings from our former Timberland Venture. As of August 31, 2016, the Timberland Venture became a fully consolidated, wholly-owned subsidiary and therefore eliminated our equity method investment at that time.


(5)	Discontinued operations as presented herein consist of the operations of our former Cellulose Fibers segment. Refer to Note 3: Discontinued Operations and Other Divestitures for more information regarding our discontinued operations.

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES DISCONTINUED OPERATIONS AND OTHER DIVESTITURES

9 Months Ended

Sep. 30, 2017

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES

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 approximately $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. As of September 30, 2017, no assets or liabilities related to our Uruguayan operations remain on the Consolidated Balance Sheet.

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.

DISCONTINUED OPERATIONS

During 2016, we entered into three separate transactions to sell our Cellulose Fibers business. As a result of these transactions, the company recognized a pretax gain on disposition of $789 million and total cash proceeds of $2.5 billion in the second half of 2016. These transactions consisted of:


•	sale of our Cellulose Fibers liquid packaging board business to Nippon Paper Industries Co., Ltd, which closed on August 31, 2016;


•	sale of our Cellulose Fibers printing papers joint venture to One Rock Capital Partners, LLC, which closed on November 1, 2016; and


•	sale of our Cellulose Fibers pulp business to International Paper, which closed on December 1, 2016.

The results of operations for our pulp and liquid packaging board businesses, along with our interest in our printing papers joint venture, were reclassified to discontinued operations during our 2016 reporting year. These results have been summarized in "Earnings from discontinued operations, net of income taxes" on our Consolidated Statement of Operations for each period presented. We did not reclassify our Consolidated Statement of Cash Flows to reflect discontinued operations.

The following table presents net earnings from discontinued operations. As all discontinued operations were sold in 2016, no assets or liabilities remain as of September 30, 2017, or December 31, 2016.



	QUARTER ENDED			YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2016			SEPTEMBER 2016
Total net sales	$	420		$	1,306
Costs of products sold	350			1,110
Gross margin	70			196
Selling expenses	3			10
General and administrative expenses	7			24
Research and development expenses	—			3
Charges for integration and restructuring, closures and asset impairments⁽¹⁾	13			44
Other operating income, net	(2		)	(21		)
Operating income	49			136
Equity loss from joint venture	—			(3		)
Interest expense, net of capitalized interest	(2		)	(5		)
Earnings from discontinued operations before income taxes	47			128
Income taxes	(23		)	(46		)
Net earnings from operations	24			82
Net gain on divestiture of Liquid Packaging Board	41			41
Net earnings from discontinued operations	$	65		$	123


(1)	Charges relate to our strategic evaluation of the Cellulose Fibers businesses and transaction-related costs.

Cash flows from discontinued operations for the three and nine months ended September 30, 2016, are as follows:



	QUARTER ENDED		YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2016		SEPTEMBER 2016
Net cash provided by operating activities	$	58	$	192
Net cash provided by investing activities	$	259	$	225

MERGER WITH PLUM CREEK MERGER WITH PLUM CREEK

9 Months Ended

Sep. 30, 2017

MERGER WITH PLUM CREEK

On February 19, 2016, we merged with Plum Creek Timber Company, Inc. (Plum Creek). Plum Creek was a REIT that primarily owned and managed timberlands in the United States. Plum Creek also produced wood products, developed opportunities for mineral and other natural resource extraction, and sold real estate properties.

The acquisition of total assets of $10.0 billion was a noncash investing and financing activity comprised of $6.4 billion in equity consideration transferred and $3.6 billion of liabilities assumed.

Summarized unaudited pro forma information that presents combined amounts as if this merger occurred at the beginning of 2016 is as follows:



	QUARTER ENDED		YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER-SHARE FIGURES	SEPTEMBER 2016		SEPTEMBER 2016
Net sales	$	1,709	$	4,925
Net earnings from continuing operations attributable to Weyerhaeuser common shareholders	$	172	$	438
Earnings from continuing operations per share attributable to Weyerhaeuser common shareholders, basic and diluted	$	0.23	$	0.58

Pro forma "Net earnings from continuing operations attributable to Weyerhaeuser common shareholders" excludes $10 million and $144 million of non-recurring merger-related costs (net of tax) incurred in the quarter and year-to-date ended September 30, 2016, respectively. Pro forma data may not be indicative of the results that would have been obtained had these events occurred at the beginning of the periods presented, nor is it intended to be a projection of future results.

NET EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2017

NET EARNINGS PER SHARE

Our basic and diluted earnings per share attributable to Weyerhaeuser shareholders were:


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


•	$0.30 during third quarter 2016 and $0.64 during year-to-date 2016.

Basic earnings per share is net earnings available to common shareholders 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 available to common shareholders 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 2017	SEPTEMBER 2016	SEPTEMBER 2017	SEPTEMBER 2016
Weighted average number of outstanding common shares – basic	753,535	749,587	752,301	708,395
Dilutive potential common shares:
Stock options	2,437	3,185	2,754	2,660
Restricted stock units	551	814	529	723
Performance share units	380	458	474	427
Total effect of outstanding dilutive potential common shares	3,368	4,457	3,757	3,810
Weighted average number of outstanding common shares – dilutive	756,903	754,044	756,058	712,205

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 2017	SEPTEMBER 2016	SEPTEMBER 2017	SEPTEMBER 2016
Stock options	1,381	1,835	1,381	1,835
Performance share units	556	361	556	361

Mandatory Convertible Preference Shares

We issued 13.8 million 6.375 percent Mandatory Convertible Preference Shares, Series A on June 24, 2013, the majority of which remained outstanding through June 30, 2016. On July 1, 2016, all outstanding 6.375 percent Mandatory Convertible Preference Shares, Series A (Preference Shares) converted into Weyerhaeuser common shares at a rate of 1.6929 Weyerhaeuser common shares per Preference Share. There were no preference shares outstanding as of December 31, 2016, or September 30, 2017.

INVENTORIES

9 Months Ended

Sep. 30, 2017

INVENTORIES

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



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2017		DECEMBER 31, 2016
LIFO Inventories:
Logs	$	5	$	18
Lumber, plywood and panels	44		51
Medium density fiberboard	11		10
Other products	14		10
FIFO or moving average cost inventories:
Logs	19		21
Lumber, plywood, panels and engineered wood products	81		71
Other products	81		92
Materials and supplies	85		85
Total	$	340	$	358

LIFO – the last-in, first-out method – applies to major inventory products held at our U.S. domestic locations. The FIFO – the first-in, first-out method – or moving average cost methods apply to the balance of our domestic raw material and product inventories as well as for 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 $70 million as of September 30, 2017, and $71 million as of December 31, 2016.

RELATED PARTIES RELATED PARTIES

9 Months Ended

Sep. 30, 2017

RELATED PARTIES

This note provides details about our transactions with related parties. Our related parties consist of:


•	our Real Estate Development Ventures (as defined below), which are accounted for using the equity method and


•	our Twin Creeks Venture.

Real Estate Development Ventures

WestRock-Charleston Land Partners, LLC (WR-CLP) is a limited liability company which holds residential and commercial real estate development properties, currently under development (Class A Properties) and higher-value timber and development lands (Class B Properties) (Class A Properties and Class B Properties referred to collectively as the Real Estate Development Ventures). Our share of the equity earnings of WR-CLP is included in the net contribution to earnings of our Real Estate & ENR segment.

The carrying amount of our investment in WR-CLP is $33 million at September 30, 2017, and $56 million at December 31, 2016. The change in our investment in WR-CLP during 2017 is due to a $23 million cash return of investment received during 2017. Additionally, we had $1 million of equity earnings from the joint ventures during third quarter and year-to-date 2017. These equity earnings were distributed during third quarter 2017. We record our share of net earnings within "Equity earnings from joint ventures" in our Consolidated Statement of Operations in the period which earnings are recorded by the affiliates.

Twin Creeks Venture

On April 1, 2016, we contributed approximately 260,000 acres of our southern timberlands with an agreed-upon value of approximately $560 million to Twin Creeks Timber, LLC (Twin Creeks Venture), in exchange for cash of approximately $440 million and a 21 percent ownership interest.

In conjunction with contributing to the venture, we entered into separate agreements to manage the timberlands owned by the Twin Creeks Venture, including harvesting activities, marketing and log sales activities, and replanting and silviculture activities. These management agreements guaranteed the Twin Creeks Venture an annual return equal to 3 percent of the contributed value of the managed timberlands in the form of minimum quarterly payments from Weyerhaeuser. We were also required to annually distribute 75 percent of any profits earned by us in excess of the minimum quarterly payments. The management agreement was cancellable at any time by Twin Creeks Timber, LLC, or otherwise would expire on April 1, 2019.

Subsequent to the quarter ended September 30, 2017, but prior to the issuance of these financial statements, we announced the redemption of our 21 percent ownership interest in the Twin Creeks Venture for $108 million in cash. We do not expect to recognize a material gain or loss on the redemption of our ownership interest. Effective December 31, 2017, we will also terminate the agreements under which we have managed the Twin Creeks timberlands. Following termination of these agreements, Weyerhaeuser will have no further responsibilities or obligations related to Twin Creeks. In conjunction with the redemption and termination discussed above, we have also entered into an agreement to sell 100,000 acres of our timberlands to Twin Creeks for $203 million. The sale, which will include 80,000 acres of timberlands in Mississippi and 20,000 acres in Georgia, is expected to close by the end of fourth quarter 2017.

Changes in our "Deposit from contribution of timberlands to related party" balance during 2017 were as follows:



DOLLAR AMOUNTS IN MILLIONS
Balance as of December 31, 2016	$	426
Lease payments to Twin Creeks Venture	(13		)
Distributions from Twin Creeks Venture	3
Balance at September 30, 2017	$	416

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

9 Months Ended

Sep. 30, 2017

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

The components of net periodic benefit costs (credits) are:



	PENSION
	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2017			SEPTEMBER 2016			SEPTEMBER 2017			SEPTEMBER 2016
Service cost⁽¹⁾	$	9		$	13		$	26		$	37
Interest cost	66			70			198			207
Expected return on plan assets	(101		)	(125		)	(306		)	(371		)
Amortization of actuarial loss	48			39			145			117
Amortization of prior service cost	1			1			3			3
Accelerated pension costs included in Plum Creek merger-related costs (Note 15)	—			—			—			5
Total net periodic benefit cost (credit) - pension	$	23		$	(2	)	$	66		$	(2	)


(1)	Service cost includes $3 million and $10 million for the quarter and year-to-date ended September 30, 2016, respectively, for employees that were part of our Cellulose Fibers divestitures. These charges are included in our results of discontinued operations.



	OTHER POSTRETIREMENT BENEFITS
	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2017			SEPTEMBER 2016			SEPTEMBER 2017			SEPTEMBER 2016
Interest cost	$	2		$	2		$	6		$	7
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		$	6		$	7

On January 1, 2017, we adopted ASU 2017-07, which affects where components of pension and other postretirement costs are presented on the Consolidated Statement of Operations. Refer to Note 1: Basis of Presentation for further information.

FAIR VALUE OF PENSION PLAN ASSETS AND OBLIGATION

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 2017, we recorded an increase in the fair value of the pension assets of $17 million, or less than 1 percent. We also updated our census data that is used to estimate our projected benefit obligation for our pension plans. As a result of that update, during second quarter 2017, we recorded a decrease to the projected benefit obligation of $10 million, or less than 1 percent. The net effect was a $27 million improvement in the funded status compared to December 31, 2016.

EXPECTED CONTRIBUTIONS AND BENEFIT PAYMENTS

In 2017 we expect to:


•	be required to contribute approximately $23 million for our Canadian registered plan;


•	be required to contribute or make benefit payments for our Canadian nonregistered plans of $3 million;


•	make benefit payments of $26 million for our U.S. nonqualified pension plans; and


•	make benefit payments of $21 million for our U.S. and Canadian other postretirement plans.

We do not anticipate making a contribution to our U.S. qualified pension plans in 2017.

ACCRUED LIABILITIES

9 Months Ended

Sep. 30, 2017

ACCRUED LIABILITIES

Accrued liabilities were comprised of the following:



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2017		DECEMBER 31, 2016
Wages, salaries and severance pay	$	132	$	178
Pension and other postretirement benefits	48		49
Vacation pay	35		33
Taxes – Social Security and real and personal property	38		20
Interest	85		120
Customer rebates and volume discounts	46		39
Deferred income	60		40
Accrued income taxes	4		139
Product remediation accrual(Note 16)	179		—
Other	75		74
Total	$	702	$	692

LONG-TERM DEBT AND LINES OF CREDIT LONG-TERM DEBT AND LINES OF CREDIT

9 Months Ended

Sep. 30, 2017

LONG-TERM DEBT AND LINES OF CREDIT

During March 2017, we entered into a new $1.5 billion five-year senior unsecured revolving credit facility that expires in March 2022. This replaced a $1 billion senior unsecured revolving credit facility that was set to expire September 2018. The entire amount is available to Weyerhaeuser Company. 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, 2017, there were no borrowings outstanding.

During July 2017, we prepaid a $550 million variable-rate term loan originally set to mature in 2020 (2020 term loan). The 2020 term loan was prepaid using available cash of $325 million as well as borrowing proceeds from a new $225 million variable-rate term loan set to mature in 2026 (2026 term loan).

During August 2017, we paid our $281 million 6.95% debentures, originally set to mature in August 2017.

FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2017

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, 2017				DECEMBER 31, 2016
DOLLAR AMOUNTS IN MILLIONS	CARRYING VALUE		FAIR VALUE (LEVEL 2)		CARRYING VALUE		FAIR VALUE (LEVEL 2)
Long-term debt (including current maturities):
Fixed rate	$	5,771	$	6,872	$	6,061	$	6,925
Variable rate	224		225		549		550
Total Debt	$	5,995	$	7,097	$	6,610	$	7,475

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, 2017

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 long-term consolidated financial position, results of operations or 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 operated upstream pulp mills within the remediation site. We are currently cooperating with the 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. We do not expect to incur material losses related to the implementation of this administrative order; however, we may incur additional costs, as yet not specified, in connection with remediation tasks resulting from other areas of the site. 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 the site. The trial has been concluded but a decision on cost contribution and allocation has not yet been rendered by the Court.

As of September 30, 2017, our total accrual for future estimated remediation costs on the active Superfund sites and other sites for which we are responsible was approximately $46 million. These reserves are recorded in "Accrued liabilities" (current) and "Other liabilities" (noncurrent) on our Consolidated Balance Sheet.

Asset Retirement Obligations

We have obligations associated with the 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, 2017, our accrued balance for these obligations was $30 million. These obligations are recorded in "Accrued liabilities" (current) and "Other liabilities" (noncurrent) on our Consolidated Balance Sheet. The accruals have not changed materially since the end of 2016.

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 CONTINGENCY

In July 2017, the company announced it was implementing a solution to address concerns regarding our TJI® Joists with Flak Jacket® Protection product. The company has determined that an odor in certain newly constructed homes is related to a recent formula change to the Flak Jacket coating that included a formaldehyde-based resin. This issue is isolated to Flak Jacket product manufactured after December 1, 2016, and does not affect any of the company’s other products. We recorded a pretax charge of $190 million and $240 million in the quarter and year-to-date period ended September 30, 2017, respectively, to accrue for remediation costs. Refer to Note 16: Charges for Product Remediation for further information.

CUMULATIVE OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2017

CUMULATIVE OTHER COMPREHENSIVE INCOME (LOSS)

Changes in amounts included in our cumulative other comprehensive income (loss) by component are:



			PENSION						OTHER POSTRETIREMENT BENEFITS
DOLLAR AMOUNTS IN MILLIONS	Foreign currency translation adjustments		Actuarial losses			Prior service costs			Actuarial losses			Prior service credits			Unrealized gains on available-for-sale securities		Total
Beginning balance as of December 31, 2016	$	232	$	(1,651	)	$	(9	)	$	(67	)	$	29		$	7	$	(1,459	)
Other comprehensive income (loss) before reclassifications	35		1			(3		)	—			—			2		35
Income taxes	—		(10		)	1			—			—			—		(9		)
Net other comprehensive income (loss) before reclassifications	35		(9		)	(2		)	—			—			2		26
Amounts reclassified from cumulative other comprehensive income (loss)⁽¹⁾	—		145			3			6			(6		)	—		148
Income taxes	—		(49		)	(1		)	(3		)	1			—		(52		)
Net amounts reclassified from cumulative other comprehensive income (loss)	—		96			2			3			(5		)	—		96
Total other comprehensive income (loss)	35		87			—			3			(5		)	2		122
Ending balance as of September 30, 2017	$	267	$	(1,564	)	$	(9	)	$	(64	)	$	24		$	9	$	(1,337	)

(1) Actuarial losses and prior service credits (cost) are components of net periodic benefit costs (credits). See Note 8: Pension and Other Postretirement Benefit Plans.

SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2017

SHARE-BASED COMPENSATION

Share-based compensation activity during year-to-date 2017 included the following:



SHARES IN THOUSANDS	Granted	Vested
Restricted Stock Units (RSUs)	763	710
Performance Share Units (PSUs)	348	160

A total of 4.5 million shares of common stock were issued as a result of RSU vesting, PSU vesting and stock option exercises.

RESTRICTED STOCK UNITS

The weighted average fair value of the RSUs granted in 2017 was $32.79. The vesting provisions for RSUs granted in 2017 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 2017 was $37.93.

The final number of shares granted in 2017 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 2017 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 2017



	Performance Share Units
Performance period	1/1/2017 - 12/31/2019
Valuation date average stock price ⁽¹⁾	$	32.79
Expected dividends	3.74					%
Risk-free rate	0.68		%	–	1.55	%
Expected volatility	22.71		%	–	24.07	%

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

STOCK OPTIONS AND STOCK APPRECIATION RIGHTS

We granted no stock options or stock appreciation rights during 2017, nor do we expect to make any such grants during the remainder of 2017.

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, will vest at “target” level performance of $100 per unit and will be paid in the first quarter of 2018. The VMAs are classified and accounted for as liabilities, as they will be settled in cash upon vesting. The expense recognized over the remaining performance period will equal the cash value of an award as of the last day of the performance period multiplied by the number of awards that are earned. Expense for VMAs will continue to be recognized over the remaining service period unless a qualifying termination occurs. A qualifying termination of any holder of a VMA award before December 31, 2017, will accelerate vesting and expense recognition in the period that the qualifying termination occurs.

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS

9 Months Ended

Sep. 30, 2017

Restructuring Cost and Reserve [Line Items]

CHARGES FOR RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS



	QUARTER ENDED				YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2017		SEPTEMBER 2016		SEPTEMBER 2017		SEPTEMBER 2016
Integration and restructuring charges related to our merger with Plum Creek:
Termination benefits	$	—	$	4	$	6	$	52
Acceleration of share-based compensation and pension related benefits related to qualifying terminations	—		—		—		26
Professional services	5		6		10		45
Other integration and restructuring costs	1		4		4		9
Total integration and restructuring charges related to our merger with Plum Creek	6		14		20		132
Charges related to closures and other restructuring activities:
Termination benefits	—		1		2		4
Other closures and restructuring costs	2		1		3		3
Total charges related to closures and other restructuring activities	2		2		5		7
Impairments of long-lived assets	6		—		153		2
Total charges for integration and restructuring, closures and impairments	$	14	$	16	$	178	$	141

INTEGRATION, RESTRUCTURING AND CLOSURES

During 2017, we incurred and accrued for termination benefits (primarily severance) and non-recurring professional services costs directly attributable to our merger with Plum Creek.

During 2016, we incurred and accrued for termination benefits (primarily severance), accelerated share-based payment costs, and accelerated pension benefits based upon qualifying terminations of certain employees as a result of restructuring decisions made subsequent to the merger. We also incurred non-recurring professional services costs for investment banking, legal and consulting, and certain other fees directly attributable to our merger with Plum Creek.

Changes in accrued severance related to restructuring during the year-to-date period ended September 30, 2017, were as follows:



DOLLAR AMOUNTS IN MILLIONS
Accrued severance as of December 31, 2016	$	26
Charges	8
Payments	(20		)
Accrued severance as of September 30, 2017	$	14

Accrued severance is recorded within the "Wages, salaries and severance pay" component of "Accrued liabilities" on our Consolidated Balance Sheet as detailed in Note 9: Accrued Liabilities. The majority of the accrued severance balance as of September 30, 2017, is expected to be paid within one year.

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 operations 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 at June 30, 2017. 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 3: Discontinued Operations and Other Divestitures 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 a pending asset sale.

CHARGES FOR PRODUCT REMEDIATION (Notes)

9 Months Ended

Sep. 30, 2017

CHARGES FOR PRODUCT REMEDIATION

In July 2017, the company announced it was implementing a solution to address concerns regarding our TJI® Joists with Flak Jacket® Protection product. The company has determined that an odor in certain newly constructed homes is related to a recent formula change to the Flak Jacket coating that included a formaldehyde-based resin. This issue is isolated to Flak Jacket product manufactured after December 1, 2016, and does not affect any of the company’s other products. The company also announced it will cover the cost to either remediate or replace affected joists. The company estimates that approximately 2,400 homes are affected.

The company recorded a liability of $50 million in second quarter 2017 based on the preliminary information that was available at that time. As remediation work has progressed, the company has obtained additional information and experience about the scope of the required remediation efforts and associated costs. Accordingly, we have adjusted our liability to account for the higher than originally expected cost per home for remediation, a modest increase in the estimated number of homes affected, as well as additional homebuilder and homeowner reimbursements. We recorded pretax charges of $190 million and $240 million in the quarter and year-to-date period ended September 30, 2017, respectively, to accrue for expected costs associated with the remediation. The charges are attributable to our Wood Products segment and were recorded in "Charges for product remediation," on the Consolidated Statement of Operations. As of September 30, 2017, $61 million has been paid out in relation to our remediation efforts. The remaining accrual of $179 million is recorded in "Accrued liabilities" on the Consolidated Balance Sheet. The company ultimately expects a significant portion of the total expense will be covered by insurance, however, as of the date of these financial statements no amounts related to potential recoveries have been recorded.

- Definition

Tabular disclosure of exposure to material amount of loss arising from allegations of damages pertaining to and arising from one or more of the entity's products.

+ References + Details

OTHER OPERATING COSTS (INCOME), NET

9 Months Ended

Sep. 30, 2017

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 2017			SEPTEMBER 2016			SEPTEMBER 2017			SEPTEMBER 2016
Gain on disposition of non-strategic assets⁽¹⁾	$	(5	)	$	(8	)	$	(14	)	$	(54	)
Foreign exchange losses (gains), net ⁽²⁾	(3		)	1			—			(11		)
Litigation expense, net	8			2			14			23
Other, net	(12		)	2			2			(14		)
Total other operating costs (income), net	$	(12	)	$	(3	)	$	2		$	(56	)


(1)	Gain on disposition of non-strategic assets included a $36 million pretax gain recognized in the first quarter of 2016 on the sale of our Federal Way, Washington headquarters campus. The remaining gains on disposition of non-strategic assets includes sales such as redundant offices and nurseries.


(2)	Foreign exchange losses (gains) result from changes in exchange rates, primarily related to our Canadian operations.

INCOME TAXES

9 Months Ended

Sep. 30, 2017

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 2017 estimated annual effective tax rate for our TRSs is approximately 34 percent, which is lower than the U.S. domestic statutory federal tax rate primarily due to lower foreign tax rates applicable to foreign earnings.

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, 2017

Consolidation, Policy

Our consolidated financial statements provide an overall view of our results 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.

Reclassification, Policy

RECLASSIFICATIONS

New Accounting Pronouncements, Policy

NEW ACCOUNTING PRONOUNCEMENTS

Earnings Per Share, Policy

Fair Value of Financial Instruments, Policy

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.

BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2017

Reconciliation of Revenue from Segments to Consolidated

An analysis and reconciliation of our business segment information to the respective information in the Consolidated Statements of Operations is as follows:



	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2017			SEPTEMBER 2016			SEPTEMBER 2017			SEPTEMBER 2016
Sales to unaffiliated customers:
Timberlands	$	491		$	484		$	1,446		$	1,342
Real Estate & ENR	82			48			181			125
Wood Products	1,299			1,177			3,746			3,302
	1,872			1,709			5,373			4,769
Intersegment sales:
Timberlands	179			216			544			631
Wood Products	—			17			—			61
	179			233			544			692
Total sales	2,051			1,942			5,917			5,461
Intersegment eliminations	(179		)	(233		)	(544		)	(692		)
Total	$	1,872		$	1,709		$	5,373		$	4,769
Net contribution to earnings:
Timberlands ⁽¹⁾	$	131		$	122		$	267		$	376
Real Estate & ENR⁽²⁾	47			15			96			42
Wood Products ⁽³⁾	40			170			389			413
	218			307			752			831
Unallocated items⁽⁴⁾	(17		)	(9		)	(113		)	(91		)
Net contribution to earnings	201			298			639			740
Interest expense, net of capitalized interest	(98		)	(114		)	(297		)	(323		)
Earnings from continuing operations before income taxes	103			184			342			417
Income taxes	27			(22		)	(31		)	(64		)
Earnings from continuing operations	130			162			311			353
Earnings from discontinued operations, net of income taxes ⁽⁵⁾	—			65			—			123
Net earnings	130			227			311			476
Dividends on preference shares	—			—			—			(22		)
Net earnings attributable to Weyerhaeuser common shareholders	$	130		$	227		$	311		$	454

(1)


(2)	The Real Estate & ENR segment includes the equity earnings from, investments in and advances to our Real Estate Development Ventures (as defined and described in Note 7: Related Parties), which are accounted for under the equity method.

(3)

(4)


(5)	Discontinued operations as presented herein consist of the operations of our former Cellulose Fibers segment. Refer to Note 3: Discontinued Operations and Other Divestitures for more information regarding our discontinued operations.

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables)

9 Months Ended

Sep. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Earnings from Discontinued Operations, Net of Tax



	QUARTER ENDED			YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2016			SEPTEMBER 2016
Total net sales	$	420		$	1,306
Costs of products sold	350			1,110
Gross margin	70			196
Selling expenses	3			10
General and administrative expenses	7			24
Research and development expenses	—			3
Charges for integration and restructuring, closures and asset impairments⁽¹⁾	13			44
Other operating income, net	(2		)	(21		)
Operating income	49			136
Equity loss from joint venture	—			(3		)
Interest expense, net of capitalized interest	(2		)	(5		)
Earnings from discontinued operations before income taxes	47			128
Income taxes	(23		)	(46		)
Net earnings from operations	24			82
Net gain on divestiture of Liquid Packaging Board	41			41
Net earnings from discontinued operations	$	65		$	123


(1)	Charges relate to our strategic evaluation of the Cellulose Fibers businesses and transaction-related costs.

Cash Flows from Discontinued Operations

Cash flows from discontinued operations for the three and nine months ended September 30, 2016, are as follows:



	QUARTER ENDED		YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2016		SEPTEMBER 2016
Net cash provided by operating activities	$	58	$	192
Net cash provided by investing activities	$	259	$	225

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

MERGER WITH PLUM CREEK (Tables)

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Unaudited Pro Forma Information

Summarized unaudited pro forma information that presents combined amounts as if this merger occurred at the beginning of 2016 is as follows:



	QUARTER ENDED		YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER-SHARE FIGURES	SEPTEMBER 2016		SEPTEMBER 2016
Net sales	$	1,709	$	4,925
Net earnings from continuing operations attributable to Weyerhaeuser common shareholders	$	172	$	438
Earnings from continuing operations per share attributable to Weyerhaeuser common shareholders, basic and diluted	$	0.23	$	0.58

NET EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2017

Dilutive Potential Common Shares



	QUARTER ENDED		YEAR-TO-DATE ENDED
SHARES IN THOUSANDS	SEPTEMBER 2017	SEPTEMBER 2016	SEPTEMBER 2017	SEPTEMBER 2016
Weighted average number of outstanding common shares – basic	753,535	749,587	752,301	708,395
Dilutive potential common shares:
Stock options	2,437	3,185	2,754	2,660
Restricted stock units	551	814	529	723
Performance share units	380	458	474	427
Total effect of outstanding dilutive potential common shares	3,368	4,457	3,757	3,810
Weighted average number of outstanding common shares – dilutive	756,903	754,044	756,058	712,205

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



	QUARTER ENDED		YEAR-TO-DATE ENDED
SHARES IN THOUSANDS	SEPTEMBER 2017	SEPTEMBER 2016	SEPTEMBER 2017	SEPTEMBER 2016
Stock options	1,381	1,835	1,381	1,835
Performance share units	556	361	556	361

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2017

Inventories

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



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2017		DECEMBER 31, 2016
LIFO Inventories:
Logs	$	5	$	18
Lumber, plywood and panels	44		51
Medium density fiberboard	11		10
Other products	14		10
FIFO or moving average cost inventories:
Logs	19		21
Lumber, plywood, panels and engineered wood products	81		71
Other products	81		92
Materials and supplies	85		85
Total	$	340	$	358

RELATED PARTIES (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Changes in Deposit of Timberlands to Related Party

Changes in our "Deposit from contribution of timberlands to related party" balance during 2017 were as follows:



DOLLAR AMOUNTS IN MILLIONS
Balance as of December 31, 2016	$	426
Lease payments to Twin Creeks Venture	(13		)
Distributions from Twin Creeks Venture	3
Balance at September 30, 2017	$	416

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)

9 Months Ended

Sep. 30, 2017

Components of Net Periodic Benefit Costs (Credits)

The components of net periodic benefit costs (credits) are:



	PENSION
	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2017			SEPTEMBER 2016			SEPTEMBER 2017			SEPTEMBER 2016
Service cost⁽¹⁾	$	9		$	13		$	26		$	37
Interest cost	66			70			198			207
Expected return on plan assets	(101		)	(125		)	(306		)	(371		)
Amortization of actuarial loss	48			39			145			117
Amortization of prior service cost	1			1			3			3
Accelerated pension costs included in Plum Creek merger-related costs (Note 15)	—			—			—			5
Total net periodic benefit cost (credit) - pension	$	23		$	(2	)	$	66		$	(2	)


(1)	Service cost includes $3 million and $10 million for the quarter and year-to-date ended September 30, 2016, respectively, for employees that were part of our Cellulose Fibers divestitures. These charges are included in our results of discontinued operations.



	OTHER POSTRETIREMENT BENEFITS
	QUARTER ENDED						YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2017			SEPTEMBER 2016			SEPTEMBER 2017			SEPTEMBER 2016
Interest cost	$	2		$	2		$	6		$	7
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		$	6		$	7

ACCRUED LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2017

Accrued Liabilities

Accrued liabilities were comprised of the following:



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2017		DECEMBER 31, 2016
Wages, salaries and severance pay	$	132	$	178
Pension and other postretirement benefits	48		49
Vacation pay	35		33
Taxes – Social Security and real and personal property	38		20
Interest	85		120
Customer rebates and volume discounts	46		39
Deferred income	60		40
Accrued income taxes	4		139
Product remediation accrual(Note 16)	179		—
Other	75		74
Total	$	702	$	692

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2017

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, 2017				DECEMBER 31, 2016
DOLLAR AMOUNTS IN MILLIONS	CARRYING VALUE		FAIR VALUE (LEVEL 2)		CARRYING VALUE		FAIR VALUE (LEVEL 2)
Long-term debt (including current maturities):
Fixed rate	$	5,771	$	6,872	$	6,061	$	6,925
Variable rate	224		225		549		550
Total Debt	$	5,995	$	7,097	$	6,610	$	7,475

CUMULATIVE OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2017

Items included in cumulative other comprehensive income (loss)

Changes in amounts included in our cumulative other comprehensive income (loss) by component are:



			PENSION						OTHER POSTRETIREMENT BENEFITS
DOLLAR AMOUNTS IN MILLIONS	Foreign currency translation adjustments		Actuarial losses			Prior service costs			Actuarial losses			Prior service credits			Unrealized gains on available-for-sale securities		Total
Beginning balance as of December 31, 2016	$	232	$	(1,651	)	$	(9	)	$	(67	)	$	29		$	7	$	(1,459	)
Other comprehensive income (loss) before reclassifications	35		1			(3		)	—			—			2		35
Income taxes	—		(10		)	1			—			—			—		(9		)
Net other comprehensive income (loss) before reclassifications	35		(9		)	(2		)	—			—			2		26
Amounts reclassified from cumulative other comprehensive income (loss)⁽¹⁾	—		145			3			6			(6		)	—		148
Income taxes	—		(49		)	(1		)	(3		)	1			—		(52		)
Net amounts reclassified from cumulative other comprehensive income (loss)	—		96			2			3			(5		)	—		96
Total other comprehensive income (loss)	35		87			—			3			(5		)	2		122
Ending balance as of September 30, 2017	$	267	$	(1,564	)	$	(9	)	$	(64	)	$	24		$	9	$	(1,337	)

(1) Actuarial losses and prior service credits (cost) are components of net periodic benefit costs (credits). See Note 8: Pension and Other Postretirement Benefit Plans.

SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Share-based Compensation Activity

Share-based compensation activity during year-to-date 2017 included the following:



SHARES IN THOUSANDS	Granted	Vested
Restricted Stock Units (RSUs)	763	710
Performance Share Units (PSUs)	348	160

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 2017



	Performance Share Units
Performance period	1/1/2017 - 12/31/2019
Valuation date average stock price ⁽¹⁾	$	32.79
Expected dividends	3.74					%
Risk-free rate	0.68		%	–	1.55	%
Expected volatility	22.71		%	–	24.07	%

(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, 2017

Restructuring Cost and Reserve [Line Items]

Items Included in Our Restructuring, Closure and Asset Impairment Charges



	QUARTER ENDED				YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2017		SEPTEMBER 2016		SEPTEMBER 2017		SEPTEMBER 2016
Integration and restructuring charges related to our merger with Plum Creek:
Termination benefits	$	—	$	4	$	6	$	52
Acceleration of share-based compensation and pension related benefits related to qualifying terminations	—		—		—		26
Professional services	5		6		10		45
Other integration and restructuring costs	1		4		4		9
Total integration and restructuring charges related to our merger with Plum Creek	6		14		20		132
Charges related to closures and other restructuring activities:
Termination benefits	—		1		2		4
Other closures and restructuring costs	2		1		3		3
Total charges related to closures and other restructuring activities	2		2		5		7
Impairments of long-lived assets	6		—		153		2
Total charges for integration and restructuring, closures and impairments	$	14	$	16	$	178	$	141

Changes in Accrued Severance related to Restructuring

Changes in accrued severance related to restructuring during the year-to-date period ended September 30, 2017, were as follows:



DOLLAR AMOUNTS IN MILLIONS
Accrued severance as of December 31, 2016	$	26
Charges	8
Payments	(20		)
Accrued severance as of September 30, 2017	$	14

OTHER OPERATING COSTS (INCOME), NET (Tables)

9 Months Ended

Sep. 30, 2017

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 2017			SEPTEMBER 2016			SEPTEMBER 2017			SEPTEMBER 2016
Gain on disposition of non-strategic assets⁽¹⁾	$	(5	)	$	(8	)	$	(14	)	$	(54	)
Foreign exchange losses (gains), net ⁽²⁾	(3		)	1			—			(11		)
Litigation expense, net	8			2			14			23
Other, net	(12		)	2			2			(14		)
Total other operating costs (income), net	$	(12	)	$	(3	)	$	2		$	(56	)


(1)	Gain on disposition of non-strategic assets included a $36 million pretax gain recognized in the first quarter of 2016 on the sale of our Federal Way, Washington headquarters campus. The remaining gains on disposition of non-strategic assets includes sales such as redundant offices and nurseries.


(2)	Foreign exchange losses (gains) result from changes in exchange rates, primarily related to our Canadian operations.

BASIS OF PRESENTATION Additional Information (Details) $ in Millions	Jan. 01, 2017 USD ($)
ASU 2016-16
Deferred Tax Assets	$ 22

BUSINESS SEGMENTS Reconciliation from Segment Totals to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales to unaffiliated customers	$ 1,872		$ 1,709		$ 5,373	$ 4,769
Intersegment sales	179		233		544	692
Third party and intersegment revenue, net	2,051		1,942		5,917	5,461
Net contribution to earnings	201		298		639	740
Interest expense, net of capitalized interest	(98)		(114)		(297)	(323)
Earnings from continuing operations before income taxes	103		184		342	417
Income taxes	27		(22)		(31)	(64)
Earnings from continuing operations	130		162		311	353
Earnings from discontinued operations, net of income taxes (5)	0		65		0	123
Net earnings	130		227		311	476
Dividends on preference shares	0		0		0	(22)
Net earnings attributable to Weyerhaeuser common shareholders	130		227		311	454
Charges for impairment of assets					153	23
Charges for product remediation	(190)		0		(240)	0
Intersegment eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Intersegment sales	(179)		(233)		(544)	(692)
Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net contribution to earnings	218		307		752	831
Unallocated items
Segment Reporting, Revenue Reconciling Item [Line Items]
Net contribution to earnings	(17)		(9)		(113)	(91)
Timberlands
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales to unaffiliated customers	491		484		1,446	1,342
Intersegment sales	179		216		544	631
Net contribution to earnings	131		122		267	376
Charges for impairment of assets				$ 147
RE & ENR
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales to unaffiliated customers	82		48		181	125
Net contribution to earnings	47		15		96	42
Wood Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales to unaffiliated customers	1,299		1,177		3,746	3,302
Intersegment sales	0		17		0	61
Net contribution to earnings	40		$ 170		389	$ 413
Charges for product remediation	$ (190)	$ (50)			$ (240)

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES Earnings from Discontinued Operations, Net of Tax (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total net sales		$ 420		$ 1,306
Costs of products sold		350		1,110
Gross margin		70		196
Selling expenses		3		10
General and administrative expenses		7		24
Research and development expenses		0		3
Charges for integration and restructuring, closures and asset impairments(1)		13		44
Other operating income, net		(2)		(21)
Operating income		49		136
Disposal Group, Including Discontinued Operation, Equity Income (Loss) from Joint Venture		0		(3)
Interest expense, net of capitalized interest		(2)		(5)
Earnings from discontinued operations before income taxes		47		128
Income taxes		(23)		(46)
Net earnings from operations		24		82
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax		41		41
Earnings from discontinued operations, net of income taxes (Note 3)	$ 0	$ 65	$ 0	$ 123

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES Cash Flows from Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash provided by operating activities	$ 58	$ 192
Net cash provided by investing activities	$ 259	$ 225

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES Additional Details (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2017
Uruguayan Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets			$ 0
Proceeds from divestiture of businesses	$ 403
Disposal Group, Including Discontinued Operation, Liabilities			0
Cellulose Fibers
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets		$ 0	0
Net gain on divestiture of business		789
Proceeds from divestiture of businesses		2,500
Disposal Group, Including Discontinued Operation, Liabilities		$ 0	$ 0

MERGER WITH PLUM CREEK Unaudited Pro Forma Information (Details) - Plum Creek - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Net sales	$ 1,709	$ 4,925
Net earnings from continuing operations attributable to Weyerhaeuser common shareholders	$ 172	$ 438
Earnings from continuing operations per share attributable to Weyerhaeuser common shareholders, basic	$ 0.23	$ 0.58
Earnings from continuing operations per share attributable to Weyerhaeuser common shareholders, diluted	$ 0.23	$ 0.58

MERGER WITH PLUM CREEK Additional Information (Details) - Plum Creek - USD ($) $ in Millions		3 Months Ended	9 Months Ended
	Feb. 19, 2016	Sep. 30, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Total assets acquired	$ 10,000
Consideration transferred	6,400
Total liabilities assumed	$ 3,600
Non-recurring merger-related costs		$ 10	$ 144

NET EARNINGS PER SHARE Dilutive Potential Common Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Basic	753,535	749,587	752,301	708,395
Dilutive potential common shares	3,368	4,457	3,757	3,810
Diluted	756,903	754,044	756,058	712,205
Stock options
Dilutive potential common shares	2,437	3,185	2,754	2,660
Restricted stock units
Dilutive potential common shares	551	814	529	723
Performance share units
Dilutive potential common shares	380	458	474	427

NET EARNINGS PER SHARE 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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
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	1,381	1,835	1,381	1,835
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	556	361	556	361

NET EARNINGS PER SHARE Additional Information (Details) shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017 $ / shares shares	Sep. 30, 2016 $ / shares	Sep. 30, 2017 $ / shares shares	Sep. 30, 2016 $ / shares	Dec. 31, 2016 shares	Jul. 01, 2016	Jun. 24, 2013 shares
Net earnings per share, basic and diluted \| $ / shares	$ 0.17	$ 0.30	$ 0.41	$ 0.64
Preference shares conversion ratio						1.6929
6.375 percent Mandatory Convertible Preference Shares, Series A
Preferred stock, shares outstanding							13.8
6.375 percent Mandatory Convertible Preference Shares, Series A \| 6.375 percent Mandatory Convertible Preference Shares, Series A
Preferred stock, shares outstanding	0.0		0.0		0.0

INVENTORIES Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Inventory [Line Items]
Total	$ 340	$ 358
Logs
Inventory [Line Items]
LIFO inventories	5	18
FIFO or moving average cost inventories	19	21
Lumber, plywood and panels
Inventory [Line Items]
LIFO inventories	44	51
Medium density fiberboard
Inventory [Line Items]
LIFO inventories	11	10
Lumber, plywood, panels and engineered wood products
Inventory [Line Items]
FIFO or moving average cost inventories	81	71
Other products
Inventory [Line Items]
LIFO inventories	14	10
FIFO or moving average cost inventories	81	92
Materials and supplies
Inventory [Line Items]
FIFO or moving average cost inventories	$ 85	$ 85

INVENTORIES Additional information (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Inventory [Line Items]
Increase in inventory amount if FIFO would have been used	$ 70	$ 71

RELATED PARTIES Schedule of Changes in Deposit of Timberlands to Related Party (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017 USD ($)
Related Party Transaction [Line Items]
Balance as of December 31, 2016	$ 426
Balance at September 30, 2017	416
Twin Creeks Venture
Related Party Transaction [Line Items]
Lease payments to Twin Creeks Venture	(13)
Distributions from Twin Creeks Venture	3
Balance at September 30, 2017	$ 416

RELATED PARTIES Additional Information (Details) $ in Millions		3 Months Ended			9 Months Ended
	Apr. 01, 2016 USD ($) a	Dec. 31, 2017 USD ($) a	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Dec. 31, 2016 USD ($)
Related Party Transaction [Line Items]
Equity earnings from joint ventures (Note 7)			$ 1.0	$ 9.0	$ 1.0	$ 21.0
Proceeds from contribution of timberlands to related party					$ 0.0	440.0
Document Period End Date					Sep. 30, 2017
Distributions received from joint ventures, return of capital					$ 23.0	$ 34.0
Investments in and advances to joint ventures			33.0		33.0		$ 56.0
Real Estate Development Ventures
Related Party Transaction [Line Items]
Equity earnings from joint ventures (Note 7)			1.0		1.0
Distributions received from joint ventures, return of capital			23.0
Investments in and advances to joint ventures			$ 33.0		$ 33.0		$ 56.0
Twin Creeks Venture
Related Party Transaction [Line Items]
Percentage of profit in excess of guaranteed annual return					75.00%
Guaranteed annual return					3.00%
Ownership interest					21.00%
Proceeds from contribution of timberlands to related party	$ 440.0
Agreed-upon value of acres contributed	$ 560.0
Contributed acres of timberlands to venture \| a	260,000
Subsequent Event [Member] \| Twin Creeks Venture
Related Party Transaction [Line Items]
Proceeds from Sale of Property, Plant, and Equipment		$ 203.0
Proceeds from Sale of Interest in Partnership Unit		$ 108.0
Sale of Timberland acreage \| a		100,000
Mississippi \| Subsequent Event [Member] \| Twin Creeks Venture
Related Party Transaction [Line Items]
Sale of Timberland acreage \| a		80,000
Georgia \| Subsequent Event [Member] \| Twin Creeks Venture
Related Party Transaction [Line Items]
Sale of Timberland acreage \| a		20,000

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Document Period End Date			Sep. 30, 2017
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost(1)	$ 9	$ 13	$ 26	$ 37
Interest cost	66	70	198	207
Expected return on plan assets	(101)	(125)	(306)	(371)
Amortization of actuarial loss	48	39	145	117
Amortization of prior service cost	1	1	3	3
Accelerated pension costs included in Plum Creek merger-related costs (Note 15)	0	0	0	5
Total net periodic benefit cost (credit)	23	(2)	66	(2)
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	2	2	6	7
Amortization of actuarial loss	2	2	6	6
Amortization of prior service cost	(2)	(2)	(6)	(6)
Total net periodic benefit cost (credit)	$ 2	2	$ 6	7
Discontinued Operations [Member] \| Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost(1)		$ 3		$ 10

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2017	Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Period Increase (Decrease)	$ 17
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	(10)
Defined Benefit Plan Funded Status Period Increase (Decrease)	$ 27
U.S. and Canadian Other Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2017		$ 21
Registered Canadian Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2017		23
Non Registered Canadian Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2017		3
U.S. Non-Qualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2017		26
U.S. Qualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to benefit plans during 2017		$ 0

ACCRUED LIABILITIES Accrued Liabilities (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Wages, salaries and severance pay	$ 132	$ 178
Pension and other postretirement benefits	48	49
Vacation pay	35	33
Taxes – Social Security and real and personal property	38	20
Interest	85	120
Customer rebates and volume discounts	46	39
Deferred income	60	40
Accrued income taxes	4	139
Product remediation accrual	179	0
Other	75	74
Total	$ 702	$ 692

LONG-TERM DEBT AND LINES OF CREDIT Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Jul. 25, 2017	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, expiration date	Sep. 30, 2018
Line of credit, maximum borrowing capacity			$ 1,000
6.95% debenture [Member]
Line of credit, expiration date	Aug. 31, 2017
Repayments of debt	$ 281
Variable rate term loan, matures 2020
Long-term debt outstanding		$ 550
Repayments of debt	325
New variable rate term loan, matures 2026
Proceeds from issuance of debt	$ 225

FAIR VALUE OF FINANCIAL INSTRUMENTS Estimated Fair Values and Carrying Values of Long-Term Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, including current maturities	$ 5,995	$ 6,610
Fair Value, Inputs, Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, fair value	7,097	7,475
Fixed interest rate
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, including current maturities	5,771	6,061
Fixed interest rate \| Fair Value, Inputs, Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, fair value	6,872	6,925
Variable interest rate
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, including current maturities	224	549
Variable interest rate \| Fair Value, Inputs, Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS [Line Items]
Long-term debt, fair value	$ 225	$ 550

LEGAL PROCEEDINGS, COMMITMENTS AND CONTINGENCIES Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Commitments and Contingencies Disclosure [Line Items]
Accrued estimated remediation costs	$ 46		$ 46
Asset retirement obligations	30		30
Charges for product remediation	$ (190)	$ 0	$ (240)	$ 0

CUMULATIVE OTHER COMPREHENSIVE INCOME (LOSS) Items Included in Cumulative Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Beginning balance			$ (1,459)
Other comprehensive income (loss) before reclassifications			35
Income taxes			(9)
Net other comprehensive income (loss) before reclassifications			26
Amounts reclassified from cumulative other comprehensive income (loss)(1)			148
Income taxes			(52)
Net amounts reclassified from cumulative other comprehensive income (loss)			96
Total other comprehensive income	$ 42	$ 23	122	$ 102
Ending balance	(1,337)		(1,337)
Foreign currency translation adjustments
Beginning balance			232
Other comprehensive income (loss) before reclassifications			35
Income taxes			0
Net other comprehensive income (loss) before reclassifications			35
Amounts reclassified from cumulative other comprehensive income (loss)(1)			0
Income taxes			0
Net amounts reclassified from cumulative other comprehensive income (loss)			0
Total other comprehensive income			35
Ending balance	267		267
Actuarial losses \| Pension
Beginning balance			(1,651)
Other comprehensive income (loss) before reclassifications			1
Income taxes			(10)
Net other comprehensive income (loss) before reclassifications			(9)
Amounts reclassified from cumulative other comprehensive income (loss)(1)			145
Income taxes			(49)
Net amounts reclassified from cumulative other comprehensive income (loss)			96
Total other comprehensive income			87
Ending balance	(1,564)		(1,564)
Actuarial losses \| Other Postretirement Benefits
Beginning balance			(67)
Other comprehensive income (loss) before reclassifications			0
Income taxes			0
Net other comprehensive income (loss) before reclassifications			0
Amounts reclassified from cumulative other comprehensive income (loss)(1)			6
Income taxes			(3)
Net amounts reclassified from cumulative other comprehensive income (loss)			3
Total other comprehensive income			3
Ending balance	(64)		(64)
Prior service costs \| Pension
Beginning balance			(9)
Other comprehensive income (loss) before reclassifications			(3)
Income taxes			1
Net other comprehensive income (loss) before reclassifications			(2)
Amounts reclassified from cumulative other comprehensive income (loss)(1)			3
Income taxes			(1)
Net amounts reclassified from cumulative other comprehensive income (loss)			2
Total other comprehensive income			0
Ending balance	(9)		(9)
Prior service costs \| Other Postretirement Benefits
Beginning balance			29
Other comprehensive income (loss) before reclassifications			0
Income taxes			0
Net other comprehensive income (loss) before reclassifications			0
Amounts reclassified from cumulative other comprehensive income (loss)(1)			(6)
Income taxes			1
Net amounts reclassified from cumulative other comprehensive income (loss)			(5)
Total other comprehensive income			(5)
Ending balance	24		24
Unrealized gains on available-for-sale securities
Beginning balance			7
Other comprehensive income (loss) before reclassifications			2
Income taxes			0
Net other comprehensive income (loss) before reclassifications			2
Amounts reclassified from cumulative other comprehensive income (loss)(1)			0
Income taxes			0
Net amounts reclassified from cumulative other comprehensive income (loss)			0
Total other comprehensive income			2
Ending balance	$ 9		$ 9

SHARE-BASED COMPENSATION Schedule of Share-Based Compensation Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2017 shares
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	763
Vested	710
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	348
Vested	160

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, 2017 $ / shares Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	1/1/2017 - 12/31/2019
Valuation date average stock price (1) \| $ / shares	$ 32.79
Expected dividends	3.74%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free rate minimum	0.68%
Expected volatility minimum	22.71%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free rate maximum	1.55%
Expected volatility maximum	24.07%

SHARE-BASED COMPENSATION Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period	4,500,000.00
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of units granted	$ 32.79
Granted	763,000
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of units granted	$ 37.93
Granted	348,000
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%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	0
Stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	0
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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Charges related to integration and restructuring
Termination benefits			$ 8
Impairments of long-lived assets			153	$ 23
Total charges for integration and restructuring, closures and impairments	$ 14	$ 16	178	141
Plum Creek
Charges related to integration and restructuring
Termination benefits	0	4	6	52
Acceleration of share-based compensation and pension related benefits related to qualifying terminations	0	0	0	26
Professional services	5	6	10	45
Other integration and restructuring costs	1	4	4	9
Total integration and restructuring charges related to our merger with Plum Creek	6	14	20	132
Other
Charges related to integration and restructuring
Termination benefits	0	1	2	4
Other closures and restructuring costs	2	1	3	3
Total charges for integration and restructuring, closures and impairments	2	2	5	7
Continuing Operations [Member]
Charges related to integration and restructuring
Impairments of long-lived assets	$ 6	$ 0	$ 153	$ 2

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS Changes in Accrued Severance related to Restructuring (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017 USD ($)
Restructuring Cost and Reserve [Line Items]
Accrued severance as of December 31, 2016	$ 26
Charges	8
Payments	(20)
Accrued severance as of September 30, 2017	$ 14

CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Restructuring Cost and Reserve [Line Items]
Impairments of long-lived assets			$ 153	$ 23
Uruguayan Operations
Restructuring Cost and Reserve [Line Items]
Impairments of long-lived assets		$ 147
Proceeds from divestiture of businesses		$ 403
Non-strategic assets
Restructuring Cost and Reserve [Line Items]
Impairments of long-lived assets	$ 6

CHARGES FOR PRODUCT REMEDIATION (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Commitments and Contingencies Disclosure [Line Items]
Charges for product remediation	$ (190)		$ 0	$ (240)	$ 0
Charges for product remediation, payments				61
Product remediation accrual	179			179		$ 0
Wood Products
Commitments and Contingencies Disclosure [Line Items]
Charges for product remediation	$ (190)	$ (50)		$ (240)

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, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Gain on disposition of non-strategic assets (1)	$ (5)	$ (8)	$ (36)	$ (14)	$ (54)
Foreign exchange losses (gains), net (2)	(3)	1		0	(11)
Litigation expense, net	8	2		14	23
Other expense, net		2		2
Other (income), net	(12)				(14)
Total other operating costs (income), net	$ (12)	$ (3)		$ 2	$ (56)

INCOME TAXES Additional Information (Detail) $ in Millions	9 Months Ended
INCOME TAXES Additional Information (Detail) $ in Millions	Sep. 30, 2017 USD ($) Rate
Estimated annual effective tax rate for our Taxable REIT Subsidiary \| Rate	34.00%
Gain from potential tax adjustment	$ 600
Tax liability from potential adjustment	$ 100
Maximum
Percentage of gain distributed in common stock	80.00%