WEYERHAEUSER CO
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
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Income Taxes
As a REIT, we generally are not subject to federal corporate level income taxes on REIT taxable income that is distributed to shareholders. Historical distributions to shareholders, including amounts and tax characteristics, are summarized in the table below.
| AMOUNTS PER SHARE | ||
|---|---|---|
| 2024 | 2023 | |
| Common - capital gain distribution | $0.94 | $1.66 |
We are required to pay corporate income taxes on earnings of our TRSs, which include our Wood Products segment and portions of our Timberlands and Real Estate & ENR segments' earnings. Our provision for income taxes is primarily driven by earnings generated by our TRSs.
WEYERHAEUSER COMPANY >2024 ANNUAL REPORT AND FORM 10-K 51
Our provision for income taxes the last two years was:
| | $31 million in 2024 and |
|---|---|
| | $98 million in 2023. |
Income tax expense decreased by $67 million compared to 2023 primarily due to decreases in our pretax earnings and effective income tax rate.
Refer to Note 18: Income Taxes for further information.
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