WEYERHAEUSER CO
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 16, 2024
Contents
FORWARD-LOOKING STATEMENTS
This report contains statements concerning our future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements often reference or describe our expected future financial and operating performance; our plans, strategies, intentions and expectations; our operational excellence and other strategic initiatives, including those pertaining to operating costs and efficiencies, as well as other costs, product development and production; growth of our timber portfolio; estimated taxes and tax rates; future debt payments; future restructuring charges; expected results of litigation and other legal proceedings and contingent liabilities, and the sufficiency of litigation and other contingent liability reserves; expected uses of cash, including future quarterly and supplemental cash dividends and share repurchases; targeted annual returns to shareholders of total cash; expected capital expenditures; expected economic conditions, including expectations and drivers relating to markets, pricing and demand for our products; laws and regulations relevant to our businesses and our expectations relating to pension contributions to our pension and post-employment benefit plans, returns on invested pension plan assets and expected future benefit payments.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often involve use of words such as expects, may, should, will, believes, anticipates, estimates, projects, intends, plans, targets or approximately, or similar words or terminology. They may use the positive, negative or another variation of those and similar words. These forward-looking statements are based on our current expectations and assumptions and are not guarantees of future events or performance. The realization of our expectations and the accuracy of our assumptions are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The factors listed below and those described under Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A), as well as other factors not described herein because they are not currently known to us or we currently judge them to be immaterial, may cause our actual results to differ significantly from our forward-looking statements.
RISKS, UNCERTAINTIES AND ASSUMPTIONS
Major risks and uncertainties that affect our business include, but are not limited to:
| | the effect of general economic conditions, including employment rates, interest rate levels, inflation, housing starts, general availability of financing for home mortgages and the relative strength of the U.S. dollar; |
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| | the effects of viral or disease outbreaks, including but not limited to any related regulatory restrictions or requirements, and their potential effects on our business, results of operations, cash flows, financial condition and future prospects; |
| | market demand for the company's products, including market demand for our timberland properties with higher and better uses, which is related to, among other factors, the strength of the various U.S. business segments and U.S. and international economic conditions; |
WEYERHAEUSER COMPANY >2023 ANNUAL REPORT AND FORM 10-K 29
| | changes in currency exchange rates, particularly the relative value of the U.S. dollar to the Japanese yen, the Chinese yuan and the Canadian dollar, and the relative value of the euro to the yen; |
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| | restrictions on international trade and tariffs imposed on imports or exports; |
| | the availability and cost of shipping and transportation; |
| | economic activity in Asia, especially Japan and China; |
| | performance of our manufacturing operations, including maintenance and capital requirements; |
| | potential disruptions in our manufacturing operations; |
| | the level of competition from domestic and foreign producers; |
| | the successful execution of our internal plans and strategic initiatives, including cost reduction initiatives; |
| | the successful and timely execution and integration of our strategic acquisitions, including our ability to realize expected benefits and synergies, and the successful and timely execution of our strategic divestitures, each of which is subject to a number of risks and conditions beyond our control including, but not limited to, timing and required regulatory approvals or the occurrence of any event, change or other circumstances that could give rise to a termination of any acquisition or divestiture transaction under the terms of the governing transaction agreements; |
| | demand and continued market development for emerging renewable energy, carbon credits and carbon sequestration; |
| | raw material availability and prices; |
| | the effect of weather; |
| | changes in global or regional climate conditions and governmental response to such changes; |
| | the risk of loss from fires, floods, windstorms, hurricanes, pest infestation and other natural disasters; |
| | energy prices; |
| | transportation and labor availability and costs; |
| | federal tax policies; |
| | the effect of forestry, land use, environmental and other governmental regulations; |
| | legal proceedings; |
| | performance of pension fund investments; |
| | the effect of timing of employee retirements and changes in the market price of our common stock on charges for share-based compensation; |
| | the accuracy of our estimates of costs and expenses related to contingent liabilities and the accuracy of our estimates of charges related to casualty losses; |
| | changes in accounting principles and |
| | other factors described in this report under Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A). |
There is no guarantee that any of the events anticipated by our forward-looking statements will occur, and if any of the events do occur, there is no guarantee what effect they will have on the company's business, results of operations, cash flows, financial condition and future prospects. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update our forward-looking statements after the date of this report.
RISK F
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