EXHIBIT 12
Weyerhaeuser Company and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
(Dollar amounts in thousands)
Fifty-two weeks ended | ||||||||
Dec. 25, 2005 | Dec. 26, 2004 | |||||||
Available earnings: | ||||||||
Earnings before interest expense, amortization of debt expense and income taxes | $ | 1,796,763 | $ | 2,866,113 | ||||
Add interest portion of rental expense | 59,153 | 60,244 | ||||||
Deduct undistributed earnings of equity affiliates | (9,277 | ) | (38,039 | ) | ||||
Available earnings | $ | 1,846,639 | $ | 2,888,318 | ||||
Fixed charges: | ||||||||
Interest expense incurred: | ||||||||
Weyerhaeuser Company and subsidiaries excluding Weyerhaeuser Real Estate Company and other related subsidiaries | $ | 676,494 | $ | 822,667 | ||||
Weyerhaeuser Real Estate Company and other related subsidiaries | 53,117 | 56,841 | ||||||
Subtotal | 729,611 | 879,508 | ||||||
Less intercompany interest | 2,678 | (47 | ) | |||||
Total interest expense incurred | 732,289 | 879,461 | ||||||
Amortization of debt expense | 17,814 | 15,269 | ||||||
Interest portion of rental expense | 59,153 | 60,244 | ||||||
Total fixed charges | $ | 809,256 | $ | 954,974 | ||||
Ratio of earnings to fixed charges | 2.28 | 3.02 | ||||||
Weyerhaeuser Company with its Weyerhaeuser Real Estate Company and Other Related 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)
Fifty-two weeks ended | ||||||||
Dec. 25, 2005 | Dec. 26, 2004 | |||||||
Available earnings: | ||||||||
Earnings before interest expense, amortization of debt expense, and income taxes | $ | 1,725,071 | $ | 2,773,714 | ||||
Add interest portion of rental expense | 52,849 | 54,873 | ||||||
Deduct undistributed earnings of equity affiliates | 10,639 | (7,880 | ) | |||||
Deduct undistributed earnings before income taxes of Weyerhaeuser Real Estate Company and other related subsidiaries | (734,195 | ) | (609,758 | ) | ||||
Available earnings | $ | 1,054,364 | $ | 2,210,949 | ||||
Fixed charges: | ||||||||
Interest expense incurred | $ | 676,494 | $ | 822,667 | ||||
Amortization of debt expense | 17,814 | 15,269 | ||||||
Interest portion of rental expense | 52,849 | 54,873 | ||||||
Total fixed charges | $ | 747,157 | $ | 892,809 | ||||
Ratio of earnings to fixed charges | 1.41 | 2.48 | ||||||