| WEYERHAEUSER COMPANY* | |||
| CONSOLIDATED STATEMENT OF OPERATIONS | |||
| for the three-year ended December 31, 2010 | |||
| DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES | |||
| 2010 | 2009 | 2008 | |
| Net sales and revenues | $ 6,552 | $ 5,528 | $ 8,100 |
| Cost of products sold | $ 5,392 | $ 5,127 | $ 7,508 |
| Gross margin | $ 1,160 | $ 401 | $ 592 |
| Selling, general and administrative expenses | $ 677 | $ 709 | $ 996 |
| Research and development expenses | $ 34 | $ 51 | $ 66 |
| Alternative fuel mixture credits (Note 21) | $ - | $ (344) | $ - |
| Charges for restructuring, closures and impairments (Note 19) | $ 149 | $ 698 | $ 2,118 |
| Other operating costs (income), net (Note 20) | $ (168) | $ (266) | $ 13 |
| Operating income (loss) | $ 468 | $ (447) | $ (2,601) |
| Interest income and other | $ 83 | $ 74 | $ 366 |
| Impairment of investments and other related charges (Note 19) | $ (3) | $ (7) | $ (160) |
| Interest expense, net of capitalized interest | $ (452) | $ (462) | $ (414) |
| Earnings (loss) from continuing operations before income taxes | $ 96 | $ (842) | $ (2,809) |
| Income tax benefit (Note 21) | $ 1,187 | $ 274 | $ 900 |
| Earnings (loss) from continuing operations | $ 1,283 | $ (568) | $ (1,909) |
| Earnings from discontinued operations, net of income taxes (Note 4) | $ - | $ - | $ 667 |
| Net earnings (loss) | $ 1,283 | $ (568) | $ (1,242) |
| Less: net (earnings) loss attributable to noncontrolling interests | $ (2) | $ 23 | $ 66 |
| Net earnings (loss) attributable to Weyerhaeuser common shareholders | $ 1,281 | $ (545) | $ (1,176) |
| Basic earnings (loss) per share attributable to Weyerhaeuser common shareholders (Note 5): | |||
| Continuing operations | $ 4.00 | $ (2.58) | $ (8.72) |
| Discontinued operations | $ - | $ - | $ 3.15 |
| Net earnings (loss) per share | $ 4.00 | $ (2.58) | $ (5.57) |
| Diluted earnings (loss) per share attributable to Weyerhaeuser common shareholders (Note 5): | |||
| Continuing operations | $ 3.99 | $ (2.58) | $ (8.72) |
| Discontinued operations | $ - | $ - | $ 3.15 |
| Net earnings (loss) per share | $ 3.99 | $ (2.58) | $ (5.57) |
| Dividends paid per share (Note 2) | $ 26.61 | $ 0.60 | $ 2.40 |
| Weighted average shares outstanding (in thousands) (Note 5) | |||
| Basic | 319,976 | 211,342 | 211,258 |
| Diluted | 321,096 | 211,342 | 211,258 |
| CONSOLIDATED BALANCE SHEET (In Part) | |||
| LIABILITIES AND EQUITY | |||
| Dollar amounts in millions, except per-share figures | |||
| 12/31/10 | 12/31/09 | ||
| Total liabilities | $ 8,815 | $ 11,196 | |
| Equity: | |||
| Weyerhaeuser shareholders' interest (Notes 2, 17, and 18): | |||
| Common shares: $1.25 per par value, authorized | |||
| 1,360,000,000 and 400,000,000 shares; issued and | |||
| outstanding: 535,975,518 and 211,358,955 shares | $ 670 | $ 264 | |
| Other capital | $ 4,552 | $ 1,786 | |
| Retained earnings | $ 181 | $ 2,658 | |
| Cumulative other comprehensive loss | $ (791) | $ (664) | |
| Total Weyerhaeuser shareholders' interest | $ 4,612 | $ 4,044 | |
| Noncontrolling interests | $ 2 | $ 10 | |
| Total equity | $ 4,614 | $ 4,054 | |
| Total liabilities and equity | $ 13,429 | $ 15,250 | |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY AND | |||
| COMPREHENSIVE INCOME (In Part) | |||
| FOR THE THREE-YEAR PERIOD ENDED DECEMBER 31, 2010 | |||
| DOLLAR AMOUNTS IN MILLIONS | |||
| 2010 | 2009 | 2008 | |
| Common Shares: | |||
| Balance at beginning of year | $ 264 | $ 264 | $ 262 |
| Issued for exercise of stock options | $ 1 | $ - | $ - |
| Retraction or redemption of exchangeable shares | $ - | $ - | $ 2 |
| Special Dividend (Note 17) | $ 405 | $ - | $ - |
| Balance at end of year | $ 670 | $ 264 | $ 264 |
|
Required: 2. How many shares of common stock were outstanding as of December 31, 2010? 3. What share number is used to compute basic earnings per share for 2010? Describe the computation of this number. 4. What share number was used to compute diluted earnings per share for 2010? Describe the computation of this number. 5. Why the substantial difference in shares outstanding at December 31, 2010 and the weighted average shares outstanding at December 31, 2010? b. What earnings per share number would analysts likely put more emphasis on for the year-end period ended December 31, 2010? c. Compute the book value for December 31, 2010. |
|
||
In: Accounting
1.) Many languages (e.g., C and Java) distinguish the character ’c’ from the string “c” with separate sets of quotation marks. Others (e.g., Python) use “c” for both single characters and strings of length one. Provide (and justify) one advantage and one disadvantage of Python’s approach.
2.The designers of Java distinguish the primitive types (scalars) from the reference types (all other types of values) in the language. Discuss the costs and benefits to the programmer of this decision
3.In Ruby, the Hash class accepts the “each” method, allowing hashes to be interacted over, like a collection. In Java, however, the Map classes are not formally part of the JCF (Java Collections Framework). For both Ruby and Java, provide (and justify) an advantage of the language’s choice of location in the class hierarchy of its form of associative list
4.What are the basic differences, if any, in how Java and Ruby handle information hiding (a.k.a. encapsulation)?
5. Java and C++ support generic collections with type parameters, whereas Ruby does not. Does that fact place the Ruby programmer at a disadvantage? Why or why not?
In: Computer Science
3. Review and discuss the collapse of the Futures Oil Market, which fell into the negative realm in May 2020.
What were the main reasons for this fall into the negative realm? Critically discuss
After May 2020, what are the prospects of futures contracts as a significant risk management tool for firms? Discuss critically.
Please state references and use APA Citation latest version
In: Finance
A rich aunt has promised you $3,000 one year from today. In addition, each year after that, she has promised you a payment (on the anniversary of the last payment) that is 2% larger than the last payment. She will continue to show this generosity for 2020 years, giving a total of 2020 payments. If the interest rate is 4%, what is her promise worth today?
In: Finance
A company takes a short position in 10 futures contracts on soybean on October 2, 2020. The initial futures price is $10.175 per bushel. Suppose on December 31, 2020 the futures price is $10.02 per bushel. On March 20, 2021 it is $9.89 per bushel. The contracts are closed out on March 20, 2021. What gain is recognized (taxable) in the accounting year January 1 to December 31, 2021 if the company is classified as a hedger? Each contract is on 5,000 bushels of soybean.
| A. |
$7,750 |
|
| B. |
$6,500 |
|
| C. |
$14,250 |
|
| D. |
$50,875 |
A company takes a long position in 5 futures contracts on soybean on October 2, 2020. The initial futures price is $10.19 per bushel. Suppose on December 31, 2020 the futures price is $10.25 per bushel. On March 20, 2021 it is $10.42 per bushel. The contracts are closed out on March 20, 2021. What gain is recognized (taxable) in the accounting year January 1 to December 31, 2021 if the company is classified as a speculator? Each contract is on 5,000 bushels of soybean.
| A. |
$5,750 |
|
| B. |
$4,250 |
|
| C. |
$1,500 |
|
| D. |
$50,950 |
Luby’s Inc. has derivatives transactions with four different counterparties A, B, C, D which are worth $8 million, -$17 million, $20 million and -$32 million, respectively to Lucy’s. The transactions are cleared centrally through the same CCP and the CCP requires a total initial margin of $10 million. How much margin or collateral does Luby’s have to provide?
| A. |
49 million |
|
| B. |
21 million |
|
| C. |
31 million |
|
| D. |
38 million |
Suppose a trader who owns 320,000 pounds of commodity A decides to hedge the value of her position with the futures contracts. One futures contract is for the delivery of 40,000 pounds of commodity B. The price of commodity A is $21.20 and the futures price is 18.30 (both dollars per pound). The correlation between the futures price and the price of commodity A is 0.92. The volatilities of commodity A and the futures are 0.31 and 0.38 per year, respectively. What is the minimum variance hedge ratio?
| A. |
0.82 |
|
| B. |
1.23 |
|
| C. |
1.13 |
|
| D. |
0.75 |
Suppose a trader who owns 320,000 pounds of commodity A decides to hedge the value of her position with the futures contracts. One futures contract is for the delivery of 40,000 pounds of commodity B. The price of commodity A is $21.20 and the futures price is 18.30 (both dollars per pound). The correlation between the futures price and the price of commodity A is 0.92. The volatilities of commodity A and the futures are 0.31 and 0.38 per year, respectively. Should the trader take a long or short futures position?
| A. |
Long |
|
| B. |
Short |
In: Finance
On January 1, 2020, LMB, Inc. purchased some equipment for $42,000. In order to prepare the equipment for use, LMB had to pay $8,000 to have the equipment installed. LMB aos estimates that the equipment will be used for 5 years and that it can be sold to a smaller company for parts after 5 years. It expects to sell the parts for $5,000. LMB will use the equipment for 5 years but also estimates that it will produce 10,000 units in total during that time.
LMB's units of production were as follows:
2020: 2,000 units
2021: 4,000 units
2022: 2,000 units
2023: 1,500 units
2024: 500 units
Using the Units of Production method, calculate depreciation expense for the year ended December 31, 2020 (first blank) and for the year ended December 31, 2021 (second blank).
In the third blank, fill in the total accumulated depreciation after the 2nd year (12/31/2020).
In the fourth blank, fill in the net book value of the equipment on 12/31/2021.
Question 11 options:
| Blank # 1 | |
| Blank # 2 | |
| Blank # 3 | |
| Blank # 4 |
In: Accounting
Beyond starting and running new businesses, entrepreneurs are change agents who transform innovation into reality. Apple Inc. is known as one of the world's most innovative companies, and it co-founder Steve jobs was credited with Apple's most important breakthrough innovations. Steve Jobs also founded Pixar, one of the most successful film studios of all time. He was clearly an entrepreneur extraordinaire, and created continuous innovation in his quest to create value through new products or services. Jeff Bezos, and Elon Musk are also entrepreneurs that stand out as examples of successful entrepreneurs. Discuss the traits and behaviors of these entrepreneurs that might have contributed to the outstanding record of innovation in the companies they led. What are the major differences in how these individuals have approached entrepreneurship? How have those differences impacted the organizations they have founded?
In: Operations Management
For your company Uber:
(Please answer step by step) (Dont copy/paste information please)
In: Operations Management
For your company Amazon:
(Please answer step by step) (Dont copy/paste information please)
In: Operations Management
Bramble Inc. reports the following pretax income (loss) for both
book and tax purposes.
|
Year |
Pretax |
Tax Rate |
||||
| 2018 | $117,000 | 20 | % | |||
| 2019 | 90,000 | 20 | % | |||
| 2020 | (257,000) | 25 | % | |||
| 2021 | 123,000 | 25 | % | |||
Prepare the journal entries for years 2018–2021 to record income tax expense (benefit) and income taxes payable (refundable), and the tax effects of the loss carry forward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carry forward will not be realized.
Prepare the income tax section of the 2020 income statement beginning with the line “Operating loss before income taxes.”
Prepare the income tax section of the 2021 income statement beginning with the line “Income before income taxes.”
The tax rates listed were all enacted by the beginning of 2018.
In: Accounting