Earnings for the 4Q 2015 include net after-tax charges of $62 million from special items. Excluding these items, the company reported net earnings of $121 million. This compares with net earnings from continuing operations before special items of $145 million for the same period last year.
For the full year 2015, Weyerhaeuser reported net earnings attributable to common shareholders of $462 million on net sales of $7.1 billion. This compares with net earnings of $1.8 billion on net sales from continuing operations of $7.4 billion for the same period last year.
Full year 2015 includes net after-tax charges of $71 million from special items. Excluding these items, the company reported net earnings of $533 million. This compares with net earnings from continuing operations before special items of $700 million for the full year 2014.
"2015 was a milestone year for Weyerhaeuser, as we announced a transformational merger that will create the world's premier timber, land and forest products company," said Doyle R. Simons, president and CEO. "At the same time, we maintained our relentless focus on improving our relative performance and delivered on our 2015 operational excellence targets. Finally, we fulfilled our commitment to return cash to shareholders through a 7% dividend increase and the repurchase of over $500 million of common shares. Looking forward to 2016, completion of our merger with Plum Creek, the strategic review of our Cellulose Fibers business, and our continued focus on operational excellence and disciplined capital allocation will position us to drive value for our shareholders."
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. The company owns or controls nearly 7 million acres of timberlands, primarily in the U.S., and manage additional timberlands under long-term licenses in Canada.
