SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 20, 2002
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(Date of earliest event report)
WEYERHAEUSER COMPANY
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(Exact name of registrant as specified in charter)
Washington 1-4825 91-0470860
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation or Number)
organization)
Federal Way, Washington 98063-9777
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(Address of principal executive offices)
(zip code)
Registrant's telephone number, including area code:
(253) 924-2345
TABLE OF CONTENTS
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Item 7. Exhibits
SIGNATURES
Exhibit Index
Statement of Computation of Ratio of Earnings to Fixed Charges for Quarter
Ending March 31, 2002
Item 7. Exhibits
(c) Exhibits. The following exhibits are filed with this document.
12 Statement of Computation of Ratios of Earnings to Fixed Charges
for Quarter ending March 31, 2002
# # #
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WEYERHAEUSER COMPANY
By /s/ Steven J. Hillyard
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Its: Vice President and
Chief Accounting Officer
Date: May 20, 2002
EXHIBIT INDEX
Exhibit Number Description
12 Statement of Computation of Ratios of Earnings to Fixed Charges
for quarter ending March 31, 2002
Exhibit 12(a)
WEYERHAEUSER COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollar Amounts in Thousands)
THIRTEEN
WEEKS ENDING
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MAR 31 APRIL 1
2002 2001
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Available earnings:
Earnings before interest expense,
amortization of debt expense,
income taxes and extraordinary item $228,543 $371,362
Add interest portion of rental expense 11,615 11,070
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Available earnings before extraordinary item $240,158 $382,432
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Fixed charges:
Interest expense incurred:
Weyerhaeuser Company and subsidiaries
excluding Weyerhaeuser Real Estate Company,
Weyerhaeuser Financial Services, Inc. and
Gryphon Investments of Nevada and
their subsidiaries $137,636 $ 87,521
Weyerhaeuser Real Estate Company and
consolidated subsidiaries 13,157 16,495
Weyerhaeuser Financial Services, Inc. and
consolidated subsidiaries 575 3,317
Gryphon Investments of Nevada, Inc. 0 0
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Subtotal 151,368 107,333
Less intercompany interest 507 556
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Total interest expense incurred 150,861 106,777
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Amortization of debt expense 5,926 885
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Rental expense:
Weyerhaeuser Company and consolidated
subsidiaries 32,332 30,947
Weyerhaeuser Real Estate Company and
consolidated subsidiaries 2,514 2,262
Weyerhaeuser Financial Services, Inc. and
consolidated subsidiaries 0 0
Gryphon Investments of Nevada, Inc. 0 0
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34,846 33,209
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Interest portion of rental expense 11,615 11,070
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Fixed Charges $168,402 $118,732
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Ratio of earnings to fixed charges 1.43 3.22
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Exhibit 12(b)
WEYERHAEUSER COMPANY WITH ITS WEYERHAEUSER REAL ESTATE COMPANY, WEYERHAEUSER
FINANCIAL SERVICES, INC. AND GRYPHON INVESTMENTS OF NEVADA SUBSIDIARIES
ACCOUNTED FOR ON THE EQUITY METHOD, BUT EXCLUDING THE UNDISTRIBUTED EARNINGS
OF THOSE SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollar Amounts in Thousands)
THIRTEEN
WEEKS ENDING
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MAR 31 APRIL 1
2002 2001
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Available earnings:
Earnings before interest expense,
amortization of debt expense, income taxes
and extraordinary item $220,108 $254,543
Add interest portion of rental expense 10,777 10,316
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230,885 264,859
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Deduct undistributed earnings of
equity affiliates (2,767) (9,879)
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Deduct undistributed earnings before income
taxes of Weyerhaeuser Real Estate Company,
Weyerhaeuser Financial Services, Inc. and
Gryphon Investments of Nevada and
their subsidiaries:
Deduct pretax earnings (90,947) (68,974)
Add back dividends paid to Weyerhaeuser 0 30,000
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Undistributed earnings (90,947) (38,974)
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Available earnings before extraordinary item $137,171 $216,006
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Fixed charges:
Interest expense incurred $137,636 $ 87,521
Amortization of debt expense 5,926 885
Interest portion of rental expense 10,777 10,316
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Fixed charges $154,339 $ 98,722
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Ratio of earnings to fixed charges 0.89 2.19
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