WEYERHAEUSER CO
For the period ended Mar 31, 2024. Filed Apr 26, 2024.
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Mar 31, 2024 · Filed Apr 26, 2024
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FAIR VALUE OF FINANCIAL INSTRUMENTS
NOTE 9: FAIR VALUE OFFINANCIAL INSTRUMENTS
The estimated fair value and carrying value of our long-term debt consisted of the following:
| MARCH 31,2024 | DECEMBER 31,2023 | |||
|---|---|---|---|---|
| DOLLAR AMOUNTS IN MILLIONS | CARRYINGVALUE | FAIR VALUE(LEVEL 2) | CARRYINGVALUE | FAIR VALUE(LEVEL 2) |
| Long-term debt (including current maturities) and line of credit: | ||||
| Fixed rate | $4,822 | $4,775 | $4,820 | $4,853 |
| Variable rate | 249 | 250 | 249 | 250 |
| Total debt | $5,071 | $5,025 | $5,069 | $5,103 |
To estimate the fair value of fixed rate long-term debt, we used the market approach, which is based on quoted market prices we received for the same types and issues of our debt. We believe that our variable-rate long term debt and line of credit instruments have net carrying values that approximate their fair value with only insignificant differences. The inputs to the valuations of our long-term debt are based on market data obtained from independent sources or information derived principally from observable market data. The difference between the fair value and the carrying value represents the theoretical net premium or discount we would pay or receive to retire all debt at the measurement date.
Fair Value of Other Financial Instruments
We believe that our other financial instruments, including cash and cash equivalents, short-term investments, receivables and payables, have net carrying values that approximate their fair values with only insignificant differences. This is primarily due to the short-term nature of these instruments and the allowance for doubtful accounts.
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