Item 1. Business - -----------------
Weyerhaeuser Company (the company) was incorporated in the state of Washington in January 1900 as Weyerhaeuser Timber Company. It is principally engaged in the growing and harvesting of timber and the manufacture, distribution and sale of forest products, real estate development and construction, and other real estate related activities. Its business segments are timberlands; wood products; pulp, paper and packaging; and real estate and related assets.
Information with respect to the description and general development of the company's business, included on pages 40 through 44, Description of the Business of the Company, contained in the company's 2000 Annual Report to Shareholders, is incorporated herein by reference.
Financial information with respect to industry segments and geographical areas, included in Notes 19 and 20 of Notes to Financial Statements contained in the company's 2000 Annual Report to Shareholders, is incorporated herein by reference.
Timberlands
The company is engaged in the management of 5.9 million acres of company-owned and .5 million acres of leased commercial forestland in North America, most of it highly productive and located extremely well to serve both domestic and international markets. The company also has renewable, long-term licenses on 31.6 million acres of forestland located in five provinces throughout Canada that are managed by our Canadian operations. The standing timber inventory on these lands is approximately 588 million cunits (a cunit is 100 cubic feet of solid wood). The relationship between cubic measurement and the quantity of end products that may be produced from timber varies according to the species, size and quality of timber, and will change through time as the mix of these variables changes. To sustain the timber supply from its fee timberlands, the company is engaged in extensive planting, suppression of nonmerchantable species, precommercial and commercial thinning, fertilization and operational pruning, all of which increase the yield from its fee timberland acreage.
- ------------------------------------------- (1) Includes approximately 20 million acres of productive forestland.
(2) Reflects Weyerhaeuser ownership only, excluding timberlands owned and managed through joint ventures.
Weyerhaeuser Company and Subsidiaries
PART I
- -------------------------------------------------------------------------
Item 1. Business - Continued - -----------------------------
Wood Products
The company's wood products businesses produce and sell softwood lumber, plywood and veneer; oriented strand board, composite and other panels; engineered wood; hardwood lumber and treated products. These products are sold primarily through the company's own sales organizations. Building materials are sold to wholesalers, retailers and industrial users. The raw materials required to produce these products are purchased from third parties, transferred at market price from the company's timberlands, or obtained from long-term licensing arrangements.
- ------------------------------------------- (1) Includes 1.4 thousand acres of right-of-way and other harvest that does not require planting.
(2) Reflects Weyerhaeuser ownership only, excluding timberlands owned and managed through joint ventures.
Weyerhaeuser Company and Subsidiaries
PART I
- -------------------------------------------------------------------------
Item 1. Business - Continued - -----------------------------
Sales volumes (millions)(1):
Pulp, Paper and Packaging
The company's pulp, paper and packaging businesses include: Pulp, which manufactures chemical wood pulp for world markets; Paper, which manufactures and markets a range of both coated and uncoated fine papers through paper merchants and printers; Containerboard Packaging, which manufactures linerboard and corrugating medium, primarily used in the production of corrugated packaging, and manufactures and markets industrial and agricultural packaging; Paperboard, which manufactures and markets bleached paperboard, used for production of liquid containers, to West Coast and Pacific Rim customers; and Recycling, which operates an extensive wastepaper collection system and markets it to company mills and worldwide customers.
Sales volumes (thousands)(1):
- ------------------------------------------- (1) Reflects the acquisition of MacMillan Bloedel in November 1999.
(2) Reflects the acquisition of the Dryden, Ontario, fine paper mill in October 1998.
(3) Reflects the ownership restructuring of the North Pacific Paper Corporation (NORPAC) newsprint facility from a fully consolidated subsidiary to an equity affiliate in February 1998.
Weyerhaeuser Company and Subsidiaries
PART I
- -------------------------------------------------------------------------
Item 1. Business - Continued - -----------------------------
Real Estate and Related Assets
The company's real estate and related assets businesses are principally engaged in real estate development and construction through the company's real estate subsidiary, Weyerhaeuser Real Estate Company, and in other real estate related activities through the company's financial services subsidiary, Weyerhaeuser Financial Services, Inc. Development and construction consists of developing single-family housing and residential lots for sale, including the development of master-planned communities.
Volume information:
- ------------------------------------------- (1) Includes one-half of joint venture sales. (2) Reflects the sale of the company's wholly owned subsidiary, Weyerhaeuser Mortgage Company, in the second quarter of 1997.
Weyerhaeuser Company and Subsidiaries
PART I
- -------------------------------------------------------------------------
Item 2.
Item 2. Properties - -------------------
Timberlands
Timberlands annual log production (in millions):
Wood Products
Production capacities, facilities and annual production, which reflect the acquisition of MacMillan Bloedel in November 1999 and the sale of the Marshfield Door business in 2000, are summarized by major product as follows (millions):
Principal manufacturing facilities are located as follows:
Softwood lumber and plywood Engineered wood Alabama, Arkansas, Georgia, Alabama, California, Louisiana, Mississippi, Georgia, Kentucky, North Carolina, Oklahoma, Oregon, Louisiana, Minnesota, Ohio, Washington; Alberta, British Columbia, Oregon, West Virginia; Ontario and Saskatchewan, Canada; Alberta and British and Durango, Mexico Columbia, Canada
Oriented strand board Hardwood lumber Michigan, North Carolina, West Virginia; Arkansas, Michigan, Alberta, New Brunswick, Ontario and Oklahoma, Oregon, Saskatchewan, Canada Pennsylvania, Washington, Wisconsin; and British Composite panels Columbia, Canada British Columbia, Canada; and Durango, Mexico
- ------------------------------------------ (1) Reflects sale of Marshfield, Wisconsin mill in 2000.
Weyerhaeuser Company and Subsidiaries
PART I
- -------------------------------------------------------------------------
Item 2. Properties-Continued - -----------------------------
Pulp, Paper and Packaging
Production capacities, facilities and annual production, which reflect the acquisition of MacMillan Bloedel in November 1999, are summarized by major product as follows (thousands):
Principal manufacturing facilities are located as follows:
Pulp Packaging Georgia, Mississippi, North Arizona, Arkansas, California, Carolina, Washington; and Colorado, Connecticut, Florida, Alberta, British Columbia, Georgia, Hawaii, Illinois, Ontario and Saskatchewan, Canada Indiana, Iowa, Kentucky, Louisiana, Maryland, Michigan, Paper Minnesota, Mississippi, Mississippi, North Carolina, Missouri, Nebraska, New Jersey, Washington, Wisconsin; and New York, North Carolina, Ohio, Ontario and Saskatchewan, Canada Oregon, Tennessee, Texas, Virginia, Washington, Wisconsin; Paperboard and Guanajuato, Mexico Washington Recycling Containerboard Arizona, California, Colorado, Alabama, Kentucky, North Illinois, Iowa, Kansas, Carolina, Oklahoma, Oregon; and Maryland, Minnesota, Nebraska, Ontario, Canada North Carolina, Oklahoma, Oregon, Tennessee, Texas, Utah, Virginia and Washington
- ------------------------------- (1) Reflects the acquisition of the Dryden, Ontario, Canada, fine paper facility in October 1998.
(2) Reflects the ownership restructuring of the North Pacific Paper Corporation (NORPAC) newsprint facility from a fully consolidated subsidiary to an equity affiliate in February 1998.
Weyerhaeuser Company and Subsidiaries
PART I
- -------------------------------------------------------------------------
Item 2. Properties-Continued - -----------------------------
Real Estate and Related Assets
Single-family housing Commercial development California, Maryland, Nevada, California and Washington Texas, Virginia and Washington
Residential land development Real estate investments Arkansas, California, Georgia, Arizona, California, Colorado, Maryland, Nevada, North Carolina, Florida, Nevada, Oregon and Texas, Virginia and Washington Washington
Mortgage securities Washington
Weyerhaeuser Company and Subsidiaries
PART I
- -------------------------------------------------------------------------
Item 3.
Item 3. Legal Proceedings - --------------------------
The company conducted a review of its 10 major pulp and paper facilities to evaluate the facilities' compliance with federal Prevention of Significant Deterioration (PSD) regulations. The results of the reviews were disclosed to seven state agencies and the Environmental Protection Agency (EPA) during 1994 and 1995. All PSD compliance issues identified in the review have been resolved. This includes PSD issues at the company's Springfield, Oregon, containerboard facility which were resolved in December 2000, at which time a Title V permit was issued for the facility.
The company has entered into a proposed class action settlement of hardboard siding claims against the company. The settlement class consists of all persons who own or owned structures in the United States on which the company's hardboard siding has been installed from January 1, 1981 through December 31,1999. The settlement was approved by the Superior Court, San Francisco County, California in December 2000. On February 8, 2001, two named intervenors and objectors filed a notice of appeal from the order granting final approval to the class action settlement and an order awarding class counsel attorney fees. They also appealed from two orders of December 13, 2000, one of which denied their motion to intervene and the second related to the presentation of witnesses at the final fairness hearing. The company took an after-tax charge of $82 million in the second quarter to cover the estimated cost of the settlement and related costs. Because the nationwide class action settlement has been approved, the company expects that two cases in which class actions have been claimed but not certified in Oregon and Texas will be dismissed. A similar case in Washington was dismissed with prejudice on March 2, 2001. Cases pending in South Carolina and Iowa in which statewide classes have been sought but not certified may proceed as individual cases but will not be able to be certified as class actions on behalf of any claimants included in the certified nationwide class. At the end of the fourth quarter, the company also was a defendant in 17 non-class hardboard siding cases involving primarily multi-family structures and residential developments.
In May 1999, two civil antitrust lawsuits were filed against the company in U.S. District Court, Eastern District of Pennsylvania. Both suits name as defendants several other major containerboard and packaging producers. The complaint in the first case alleges the defendants conspired to fix the price of linerboard and that the alleged conspiracy had the effect of increasing the price of corrugated containers. The suit purports to be a class action on behalf of purchasers of corrugated containers during the period October 1993 through November 1995. The complaint in the second case alleges that the company conspired to manipulate the price of linerboard and thereby the price of corrugated sheets. The suit purports to be a class action on behalf of purchasers of corrugated sheets during the period October 1993 through November 1995. Both suits seek damages, including treble damages, under the antitrust laws. In October 2000, the court denied motions to dismiss that had been filed by the company and the other defendants. Discovery has commenced in both suits and the plaintiffs have filed motions to certify a class in both cases.
In May 1999, the Equity Committee ("the Committee") in the Paragon Trade Brands, Inc. bankruptcy proceeding filed a motion in U.S. Bankruptcy Court for the Northern District of Georgia for authority to prosecute claims against the company in the name of the debtor's estate. Specifically, the Committee seeks to assert that the company breached certain warranties in agreements entered into between Paragon and the company in connection with Paragon's public offering of common stock in January 1993. The Committee seeks to recover damages sustained by Paragon as a result of two patent infringement cases, one brought by Procter & Gamble and the other by Kimberly-Clark. In September 1999, the court authorized the Committee to commence an adversary proceeding against the company. The Committee commenced this proceeding in October 1999, seeking damages in excess of $420 million against the company.
In April 2000, the Environmental Protection Agency (Region X) (EPA) issued a notice of violation (NOV) and proposed penalty of $194 thousand to the company's Mountain Pine, Arkansas, manufacturing facility. The NOV alleges the facility was in violation of its Title V operating permit because it had reported multiple instances in which the mill's two boilers had exceeded pressure drop and scrubber flow rate requirements in its permits. The company has appealed the proposed penalty. Settlement negotiations have been completed and the final documents are being drafted. The total monetary penalty assessed against the facility will be $40,000. In addition, the facility will upgrade the particulate controls on the boiler as a supplemental environmental project.
Weyerhaeuser Company and Subsidiaries
PART I
- -------------------------------------------------------------------------
Item 3. Legal Proceedings-Continued - ------------------------------------
The company is also a party to various proceedings relating to the cleanup of hazardous waste sites under the Comprehensive Environmental Response Compensation and Liability Act, commonly known as "Superfund," and similar state laws. The EPA and/or various state agencies have notified the company that it may be a potentially responsible party with respect to other hazardous waste sites as to which no proceedings have been instituted against the company. The company is also a party to other legal proceedings generally incidental to its business. Although the final outcome of any legal proceeding or environmental matter is subject to a great many variables and cannot be predicted with any degree of certainty, the company presently believes that any ultimate outcome resulting from these proceedings and matters, or all of them combined, would not have a material effect on the company's current financial position, liquidity or results of operations; however, in any given future reporting period, such proceedings or matters could have a material effect on results of operations.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders - -------------------------------------------------------------
There were no matters submitted to a vote of security holders during the fourth quarter of the fiscal year ended December 31, 2000.
Weyerhaeuser Company and Subsidiaries
PART II
- -------------------------------------------------------------------------
Item 5.
Item 5. Market Price of and Dividends on the Registrant's Common Equity and - ----------------------------------------------------------------------------- Related Stockholder Matters - ---------------------------
Information with respect to market prices, stockholders and dividends included in Notes 21 and 22 of Notes to Financial Statements in the company's 2000 Annual Report to Shareholders, is incorporated herein by reference.
Item 6.
Item 6. Selected Financial Data - --------------------------------
Information with respect to selected financial data included in Note 22 of Notes to Financial Statements in the company's 2000 Annual Report to Shareholders is incorporated herein by reference.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results - -------------------------------------------------------------------------------- of Operations - -------------
Information with respect to Management's Discussion and Analysis included on pages 2, 28-37 and 40-85 of the company's 2000 Annual Report to Shareholders,
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk - --------------------------------------------------------------------
Information with respect to market risk of financial instruments included on pages 50-51 of the company's 2000 Annual Report to Shareholders is incorporated herein by reference.
Item 8.
Item 8. Financial Statements and Supplementary Information - -----------------------------------------------------------
Financial statements and supplementary information, included in the company's 2000 Annual Report to Shareholders are incorporated herein by reference.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and - ------------------------------------------------------------------------ Financial Disclosure - --------------------
Not applicable.
Weyerhaeuser Company and Subsidiaries
PART III
- -------------------------------------------------------------------------
Item 10.
Item 10. Directors and Executive Officers of the Registrant - ------------------------------------------------------------
Information with respect to Directors of the company included on pages 2 through 5 of the Notice of 2001 Annual Meeting of Shareholders and Proxy Statement dated March 8, 2001, is incorporated herein by reference.
The executive officers of the company are as follows:
William R. Corbin has been executive vice president, Wood Products, since 1999. From 1995 to 1999, he was executive vice president, Timberlands and Distribution, and from 1992, when he joined the company, to 1995 he was executive vice president, Wood Products.
C. William Gaynor has been senior vice president, Canada, of Weyerhaeuser since 1999 and has been president and chief executive officer of Weyerhaeuser Company Limited, a subsidiary of the Company, since 1998. He joined the company in 1974 and has held numerous management positions and served as vice president and general manager - Saskatchewan Division of Weyerhaeuser Canada Ltd., the predecessor of Weyerhaeuser Company Limited, from 1987 to 1998.
Richard C. Gozon has been executive vice president, Pulp, Paper and Packaging, since 1994 when he joined the company. Prior to joining Weyerhaeuser, he was president and chief operating officer of Alco Standard Corporation (a distributor of paper and office equipment).
Richard E. Hanson has been senior vice president, Timberlands, since 1999. He was vice president, Western Timberlands, from 1996 to 1998. He joined Weyerhaeuser in 1970 and has held numerous management positions in the timberlands, wood products and paper businesses.
Steven R. Hill has been senior vice president, Human Resources, since 1990 and was vice president, Human Resources, from 1986 to 1990. He joined Weyerhaeuser as a forester in 1968, and joined Corporate Human Resources in 1980.
Mack L. Hogans has been senior vice president, Corporate Affairs, since 1995 and was vice president of Government Affairs from 1990 to 1995. He was the director of Government Affairs and public policy issues management from 1986 to 1990. He joined Weyerhaeuser in 1979 and has been a forester, branch manager for the Building Materials business and a government affairs manager.
Steven R. Rogel's biography may be found on page 2 of the Notice of 2001 Annual Meeting of Shareholders and Proxy Statement dated March 8, 2001, which is incorporated herein by reference.
William C. Stivers has been executive vice president and chief financial officer since 1998 and was senior vice president and chief financial officer from 1990 to 1998. He joined the company in 1970.
Weyerhaeuser Company and Subsidiaries
PART III
- -------------------------------------------------------------------------
Item 10. Directors and Executive Officers of the Registrant - Continued - ------------------------------------------------------------------------
George H. Weyerhaeuser, Jr. has been senior vice president, Technology, since 1998 and was president and chief executive officer of Weyerhaeuser Canada Ltd. from 1993 to 1998. From 1990 to 1993, he was vice president, Manufacturing, Pulp, Paper and Packaging. He joined Weyerhaeuser in 1978 and has held various positions, including sawmill supervisor, vice president and mill manager for Containerboard, Pulp, Paper and Packaging.
Item 11.
Item 11. Executive Compensation - --------------------------------
Information with respect to executive compensation included on pages 5 through 17 of the Notice of 2001 Annual Meeting of Shareholders and Proxy Statement dated March 8, 2001, is incorporated herein by reference.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management - ------------------------------------------------------------------------
Information with respect to security ownership of certain beneficial owners and management included on pages 6 and 7 of the Notice of 2001 Annual Meeting of Shareholders and Proxy Statement dated March 8, 2001, is incorporated herein by reference.
Item 13.
Item 13. Certain Relationships and Related Transactions - --------------------------------------------------------
Information with respect to certain relationships and related transactions included on pages 25 and 26 of the Notice of 2001 Annual Meeting of Shareholders and Proxy Statement dated March 8, 2001, is incorporated herein by reference.
Weyerhaeuser Company and Subsidiaries
PART IV
- -------------------------------------------------------------------------
Item 14.
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K - -------------------------------------------------------------------------
Financial Statements
The consolidated financial statements of the company, together with the report of independent public accountants, included in the company's 2000 Annual Report to Shareholders, are incorporated in Part II, Item 8 of this Form 10-K by reference.
All other financial statement schedules have been omitted because they are not applicable or the required information is included in the consolidated financial statements, or the notes thereto, in the company's 2000 Annual Report to Shareholders and incorporated herein by reference.
Exhibits:
3 - (i) Articles of Incorporation (incorporated by reference to 1999 Form 10-K filed with the Securities and Exchange Commission on March 10, 2000 - Commission File Number 1-4825) (ii) Bylaws 10 - Material Contracts (a) Agreement with W. R. Corbin (incorporated by reference to 1998 Form 10-K filed with the Securities and Exchange Commission on March 12, 1999 - Commission File Number 1-4825) (b) Agreement with R. C. Gozon (incorporated by reference to 1995 Form 10-K filed with the Securities and Exchange Commission on March 15, 1996 - Commission File Number 1-4825) (c) Agreement with S. R. Rogel (incorporated by reference to 1997 Form 10-K filed with the Securities and Exchange Commission on March 13, 1998 - Commission File Number 1-4825) (d) Merger Agreement dated June 20, 1999, among Weyerhaeuser Company and Weyerhaeuser Exchangeco Limited and MacMillan Bloedel Limited, including the Plan of Arrangement (incorporated by reference to the Weyerhaeuser Company Registration Statement No. 333-84127) (e) Form of Executive Severance Agreement (incorporated by reference to 1999 Form 10-K filed with the Securities and Exchange Commission on March 10, 2000 - Commission File Number 1-4825) 11 - Statement Re: Computation of Per Share Earnings (incorporated by reference to Note 2 of Notes to Financial Statements in the company's 2000 Annual Report to Shareholders) 13 - Portions of the company's 2000 Annual Report to Shareholders specifically incorporated by reference herein 22 - Subsidiaries of the Registrant 23 - Consent of Independent Public Accountants
Reports on Form 8-K
The registrant filed reports on Form 8-K dated October 23, 2000, and January 26, 2001, reporting information under Item 5, Other Events.
The registrant filed a report on Form 8-K dated November 9, 1999, as amended by Form 8-K/A dated January 10, 2000, reporting information under Item 2, Acquisition or Disposition of Assets, and Item 7, Financial Statements and Exhibits.
Weyerhaeuser Company and Subsidiaries
PART IV
- -------------------------------------------------------------------------
Item 14. Exhibits, Financial Statement Schedules and Reports on - ----------------------------------------------------------------- Form 8-K - Continued - --------------------
Reports on Form 8-K - Continued
The following financial statements were filed with this Form 8-K:
. The Annual Information Form and Management's Discussion and Analysis for MacMillan Bloedel for the year ended December 31, 1998 filed with the Securities and Exchange Commission on April 7, 1999 on Form 40-F;
. The Consolidated Financial Statements of MacMillan Bloedel for the year ended December 31, 1998 filed with the Securities and Exchange Commission on September 28, 1999 on Form 40-F/A; and,
. The Consolidated Financial Statements of MacMillan Bloedel for the six-month period ended June 30, 1999 filed with the Securities and Exchange Commission on August 11, 1999 on Form 6-K.
Weyerhaeuser Company and Subsidiaries
SIGNATURES
- -------------------------------------------------------------------------
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on March 16, 2001.
Weyerhaeuser Company
/s/ Steven R. Rogel ----------------------- Steven R. Rogel Chairman, President and Chief Executive Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant in the capacities indicated on March 16, 2001.
/s/ Steven R. Rogel /s/ John I. Kieckhefer - ------------------------------------- --------------------------- Steven R. Rogel John I. Kieckhefer President, Principal Executive Director Officer, Director and Chairman of the Board
/s/ William C. Stivers /s/ Arnold G. Langbo - ------------------------------------- --------------------------- William C. Stivers Arnold G. Langbo Principal Financial Officer Director
/s/ Kenneth J. Stancato /s/ Donald F. Mazankowski - ------------------------------------- --------------------------- Kenneth J. Stancato Donald F. Mazankowski Principal Accounting Officer Director
/s/ W. John Driscoll /s/ William D. Ruckelshaus - ------------------------------------- --------------------------- W. John Driscoll William D. Ruckelshaus Director Director
/s/ Richard F. Haskayne /s/ Richard H. Sinkfield - ------------------------------------- --------------------------- Richard F. Haskayne Richard H. Sinkfield Director Director
/s/ /s/ James N. Sullivan - ------------------------------------- --------------------------- Robert J. Herbold James N. Sullivan Director Director
/s/ Martha R. Ingram /s/ Clayton K. Yeutter - ------------------------------------- --------------------------- Martha R. Ingram Clayton K. Yeutter Director Director
Weyerhaeuser Company and Subsidiaries
FINANCIAL STATEMENT SCHEDULES
- -------------------------------------------------------------------------
Report of Independent Public Accountants on Financial Statement Schedules
To Weyerhaeuser Company:
We have audited in accordance with auditing standards generally accepted in the United States, the financial statements included in Weyerhaeuser Company's annual report to shareholders incorporated by reference in this Form 10-K, and have issued our report thereon dated February 7, 2001. Our audit was made for the purpose of forming an opinion on those statements taken as a whole. The schedule shown on page 19 is the responsibility of the company's management and is presented for purposes of complying with the Securities and Exchange Commission's rules and is not part of the basic financial statements. This schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, fairly states in all material respects the financial data required to be set forth therein in relation to the basic financial statements taken as a whole.
ARTHUR ANDERSEN LLP
Seattle, Washington, February 7, 2000
Weyerhaeuser Company and Subsidiaries
FINANCIAL STATEMENT SCHEDULES
- -------------------------------------------------------------------------
- -------------------------------------- (1) Includes additional allowances of $4 million in the MacMillan Bloedel acquisition.
(2) Includes allowances transferred from partnership investments.
(3) Includes allowances transferred to other assets.
(4) Includes the net of allowances transferred to receivables and from other assets.
Weyerhaeuser Company and Subsidiaries
EXHIBITS INDEX
- -------------------------------------------------------------------------
Exhibits:
3 - (i) Articles of Incorporation (incorporated by reference to 1999 Form 10-K filed with the Securities and Exchange Commission on March 10, 2000 - Commission File Number 1-4825) (ii) Bylaws 10 - Material Contracts (a) Agreement with W. R. Corbin (incorporated by reference to 1998 Form 10-K filed with the Securities and Exchange Commission on March 12, 1999 - Commission File Number 1-4825) (b) Agreement with R. C. Gozon (incorporated by reference to 1995 Form 10-K filed with the Securities and Exchange Commission on March 15, 1996 - Commission File Number 1-4825) (c) Agreement with S. R. Rogel (incorporated by reference to 1997 Form 10-K filed with the Securities and Exchange Commission on March 13, 1998 - Commission File Number 1-4825) (d) Merger Agreement dated June 20, 1999, among Weyerhaeuser Company and Weyerhaeuser Exchangeco Limited and MacMillan Bloedel Limited, including the Plan of Arrangement (incorporated by reference to the Weyerhaeuser Company Registration Statement No. 333-84127) (e) Form of Executive Severance Agreement (incorporated by reference to 1999 Form 10-K filed with the Securities and Exchange Commission on March 10, 2000 - Commission File Number 1-4825) 11 - Statement Re: Computation of Per Share Earnings (incorporated by reference to Note 2 of Notes to Financial Statements in the company's 2000 Annual Report to Shareholders) 13 - Portions of the company's 2000 Annual Report to Shareholders specifically incorporated by reference herein 22 - Subsidiaries of the Registrant 23 - Consent of Independent Public Accountants
Weyerhaeuser Company and Subsidiaries
Exhibit 22 Subsidiaries of the Registrant
- -------------------------------------------------------------------------
Weyerhaeuser Company and Subsidiaries
Exhibit 22 Subsidiaries of the Registrant-Continued
- -------------------------------------------------------------------------
Weyerhaeuser Company and Subsidiaries
Exhibit 22 Subsidiaries of the Registrant-Continued
- -------------------------------------------------------------------------
Weyerhaeuser Company and Subsidiaries
Exhibit 23 Consent of Independent Public Accountants
- -------------------------------------------------------------------------
As independent public accountants, we hereby consent to the incorporation of our reports included and incorporated by reference in this Form 10-K, into Weyerhaeuser Company's previously filed Registration Statement Nos. 333-36753 and 333-84127 on Form S-3 and Nos. 33-60527, 333-10165, 333-01565, 333-56673, 333-74311, 333-89925 and 333-53010 on Form S-8.
ARTHUR ANDERSEN LLP
Seattle, Washington, March 16, 2001