Weyerhaeuser (WY) 10-Q2008 Q2 Quarterly report

Filed: 8 Aug 08, 12:00am

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New words: actuarial, affirmed, amortization, amortized, Australia, Australian, Cedar, challenging, Colonvade, decided, delivery, demolishing, economy, electricity, eligibility, enacted, exemption, exploring, fell, flood, flooding, Food, formal, Green, hunting, IA, Iowa, letter, medical, moulding, Notable, obtain, par, partition, partitioning, poor, portfolio, preliminary, principle, properly, provision, remeasurerment, reopened, salaried, shutdown, starch, statutory, strategy, suspension, Thursday, Triangle, unchanged, unscheduled, uruguay, Vandora, warehousing, wax, weekly, whitewood, wholly, write

Removed: accrual, Arizona, backlog, close, demolition, dismantling, divestment, exposure, injunctive, IRS, lot, mix, nonstrategic, permitted, put, relief, routine, veneer, white

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EXHIBIT 12

Weyerhaeuser Company and Subsidiaries

Computation of Ratios of Earnings to Fixed Charges

For the twenty-six week periods ended June 29, 2008 and July 1, 2007

(Dollar amounts in millions)


	TWENTY-SIX WEEKS ENDED
	JUNE 29, 2008			JULY 1, 2007
Available earnings:
Earnings (loss) from continuing operations before interest expense, amortization of debt expense and income taxes	$	(546	)	$	103
Add: interest portion of rental expense		23			21
Deduct: undistributed earnings of equity affiliates and minority interest in income of subsidiaries		80			(15	)

Available earnings (loss)	$	(443	)	$	109

Fixed charges:
Interest expense incurred:
Weyerhaeuser Company and subsidiaries, excluding Weyerhaeuser Real Estate Company and other related subsidiaries		254			304
Weyerhaeuser Real Estate Company and other related subsidiaries		29			30

Subtotal		283			334
Less: intercompany interest		(3	)		(1	)

Total interest expense incurred		280			333
Amortization of debt expense		4			5
Interest portion of rental expense		23			21

Total fixed charges	$	307		$	359

Ratio of earnings to fixed charges		—			—

Coverage deficiency	$	(750	)	$	(250	)

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

For the twenty-six week period June 29, 2008 and July 1, 2007

(Dollar amounts in millions)


	TWENTY-SIX WEEKS ENDED
	JUNE 29, 2008			JULY 1, 2007
Available earnings:
Earnings (loss) from continuing operations before interest expense, amortization of debt expense and income taxes	$	(566	)	$	83
Add: interest portion of rental expense		18			16
Deduct: undistributed earnings of equity affiliates and minority interest in income of subsidiaries		8			10
Deduct: undistributed earnings before income taxes of Weyerhaeuser Real Estate Company and other related subsidiaries		411			(122	)

Available earnings (loss)	$	(129	)	$	(13	)

Fixed charges:
Interest expense incurred		254			304
Amortization of debt expense		4			5
Interest portion of rental expense		18			16

Total fixed charges	$	276		$	325

Ratio of earnings to fixed charges		—			—

Coverage deficiency	$	(405	)	$	(338	)

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