Weyerhaeuser (WY) 10-Q 2014 Q2 Quarterly report

EXHIBIT 12

Weyerhaeuser Company and Subsidiaries

Computation of Ratios of Earnings to Fixed Charges and

Computation of Ratios of Earnings to Combined Fixed Charges and Preference Dividends

For the year-to-date periods ended June 30, 2014, and 2013

(Dollar amounts in millions)

	YEAR-TO-DATE ENDED
	JUNE 2014		JUNE 2013
Available earnings:
Earnings before interest expense, amortization of debt expense and income taxes	$	771	$	565
Add: interest portion of rental expense	5		6
Add: undistributed loss of equity affiliates and income attributable to noncontrolling interests in subsidiaries	4		7
Available earnings	$	780	$	578
Fixed charges:
Interest expense incurred	174		166
Amortization of debt expense	3		4
Interest portion of rental expense	5		6
Total fixed charges	182		176
Dividends on preference shares (pretax)	27		2
Total fixed charges and preference dividends	$	209	$	178
Ratio of earnings to fixed charges	4.29		3.28
Ratio of earnings to combined fixed charges and preference dividends	3.73		3.25