SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Period from January 1, 1993 to December 31, 1993
COMMISSION FILE NO. 1-4825
WEYERHAEUSER COMPANY HOURLY 401(k) PLAN - ROTHSCHILD
__________________________________
WEYERHAEUSER COMPANY
A Washington Corporation
Tacoma, Washington 98477
Telephone: 206/924-2345
<PAGE>
Financial Statements and Exhibits
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Item 4: Plan Financial Statements and Schedules prepared
in accordance with the financial reporting
requirements of ERISA.
Weyerhaeuser Company Hourly 401(k) Plan -
Rothschild statements of financial condition as of
December 31, 1993 and 1992 and the
related statement of changes in participants'
equity for the year ended December 31, 1993
together with Report of Independent Public
Accountants.
Exhibits: Consent of Independent Public Accountants
Signatures
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Pursuant to the requirements of the Securities Exchange
Act of 1934, the members of the Committee who
administer the Weyerhaeuser Company Hourly 401(k) Plan
- Rothschild have duly caused this Annual Report to be
signed by the undersigned hereunto duly authorized.
WEYERHAEUSER COMPANY
HOURLY 401(K) PLAN- ROTHSCHILD
BY: /s/S.R. Hill by Paula Stewart
--------------------
S. R. Hill
Member
Retirement Committee
June 20, 1994
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Date
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CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
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As independent public accountants, we hereby consent to
the incorporation by reference of our report dated June 17,
1994, on the financial statements of the Weyerhaeuser
Company Hourly 401(k) Plan - Rothschild, included in the
Weyerhaeuser Company Hourly 401(k) Plan - Rothschild annual
report on Form 11-K for the year ended December 31, 1993,
into the Company's previously filed Registration Statement
File No. 33-34460 on Form S-8.
ARTHUR ANDERSEN & CO.
Seattle, Washington,
June 20, 1994
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WEYERHAEUSER COMPANY
HOURLY 401(k) PLAN
ROTHSCHILD
Statements of Financial Condition as of
December 31, 1993 and 1992 and the
Related Statement of Changes in Participants' Equity for the
Year Ended December 31, 1993
Together with Report of
Independent Public Accountants
<PAGE>
WEYERHAEUSER COMPANY HOURLY 401(k) PLAN - ROTHSCHILD
Report of Independent Public Accountants
To the Retirement Committee,
Weyerhaeuser Company:
We have audited the accompanying statements of financial
condition of the Weyerhaeuser Company Hourly 401(k) Plan -
Rothschild as of December 31, 1993 and 1992, and the related
statement of changes in participants' equity for the year ended
December 31, 1993. These financial statements are the
responsibility of the sponsoring Company's management. Our
responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that
our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial condition
of the Weyerhaeuser Company Hourly 401(k) Plan - Rothschild as of
December 31, 1993 and 1992, and the changes in participants'
equity for the year ended December 31, 1993 in conformity with
generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion
on the basic financial statements taken as a whole. The Fund
Information in the statements of financial condition and the
statement of changes in participants' equity is presented for
purposes of additional analysis rather than to present the
financial condition and changes in participants' equity of each
fund. The Fund Information has been subjected to the auditing
procedures applied in the audits of the basic financial
statements and, in our opinion, is fairly stated in all material
respects in relation to the basic financial statements taken as a
whole.
Arthur Andersen & Co.
Seattle, Washington,
June 17, 1994
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<TABLE>
WEYERHAEUSER COMPANY
HOURLY 401(k) PLAN - ROTHSCHILD
Statements of Financial Condition, with Fund Information
December 31, 1993 and 1992
<CAPTION>
Fund Information
---------------------------------------
December 31, 1993
--------------------------------------------------------
Weyerhaeuser
Company Fixed
Common Income Equity
Stock Fund Fund Fund Total
------------ -------- ------------ -----------
<S> <C> <C> <C> <C>
ASSETS
Investments:
Weyerhaeuser Company common shares, at market
(10,334 and 5,124 shares with a historic cost
basis of $362,708 and $144,134 at respective
dates) $ 461,155 $ -- $ -- $ 461,155
Group annuity contracts, at contract value -- 1,412,158 -- 1,412,158
Equity fund, at market (historic cost basis of
$1,394,988 and $942,776 at respective dates) -- -- 1,675,214 1,675,214
---------- ------------ ---------- -----------
461,155 1,412,158 1,675,214 3,548,527
Receivables:
Participants' contributions 7,824 21,675 29,843 59,342
Interfund transfers in -- -- 7,249 7,249
Accrued interest -- 9,046 8 9,054
Short-term investments 42 67,398 -- 67,440
---------- ------------ ----------- -----------
$ 469,021 $ 1,510,277 $ 1,712,314 $ 3,691,612
========== ============ =========== ===========
LIABILITIES AND PARTICIPANTS' EQUITY
Payables:
Participant withdrawals $ -- $ 18,577 $ -- $ 18,577
Interfund transfers out 4,537 2,712 -- 7,249
Investments purchased 382 -- -- 382
---------- ------------ ----------- -----------
4,919 21,289 -- 26,208
Participants' equity 464,102 1,488,988 1,712,314 3,665,404
---------- ------------ ----------- -----------
$ 469,021 $ 1,510,277 $ 1,712,314 $ 3,691,612
========== ============ =========== ===========
The accompanying notes are an integral part of these statements of financial
condition.
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<CAPTION>
Fund Information
- - - - - -------------------------------------
December 31, 1992
- - - - - -------------------------------------------------
Weyerhaeuser
Company Fixed
Common Income Equity
Stock Fund Fund Fund Total
- - - - - ------------- -------- ---------- ---------
<C> <C> <C> <C>
$ 188,948 $ -- $ -- $ 188,948
-- 1,120,168 -- 1,120,168
-- -- 1,101,703 1,101,703
------------ ----------- ----------- -----------
188,948 1,120,168 1,101,703 2,410,819
6,389 25,475 26,044 57,908
10,148 3,865 -- 14,013
-- 7,839 2 7,841
21 25,513 -- 25,534
------------ ----------- ----------- -----------
$ 205,506 $ 1,182,860 $ 1,127,749 $ 2,516,115
============ =========== =========== ===========
$ -- $ 4,273 $ 5,299 $ 9,572
-- -- 14,013 14,013
-- -- -- --
----------- ----------- ----------- -----------
-- 4,273 19,312 23,585
205,506 1,178,587 1,108,437 2,492,530
----------- ----------- ----------- -----------
$ 205,506 $ 1,182,860 $ 1,127,749 $ 2,516,115
=========== =========== =========== ===========
</TABLE>
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<TABLE>
WEYERHAEUSER COMPANY
HOURLY 401 (k) PLAN - ROTHSCHILD
Statement of Changes in Participants' Equity, with Fund Information for the
Year Ended December 31, 1993
<CAPTION>
Fund Information
-------------------------------------
Weyerhaeuser
Company Fixed
Common Income Equity
Stock Fund Fund Fund Total
----------- ------------ ----------- -----------
<S> <C> <C> <C> <C>
Participants' equity at beginning of year $ 205,506 $ 1,178,587 $ 1,108,437 $ 2,492,530
---------- ----------- ----------- -----------
Participants' contributions 120,875 363,292 447,571 931,738
---------- ----------- ----------- -----------
Net investment income:
Dividends and interest 9,771 99,348 -- 109,119
Gain on sale of investments -- -- 12,227 12,227
---------- ----------- ----------- -----------
9,771 99,348 12,227 121,346
---------- ----------- ----------- -----------
Realized gain on Weyerhaeuser
Company common shares distributed
for participant withdrawals 87 -- -- 87
---------- ----------- ----------- -----------
Unrealized appreciation of investments 54,787 -- 121,304 176,091
---------- ----------- ----------- -----------
Transfers between funds 75,660 (105,008) 29,348 --
---------- ----------- ----------- -----------
Participant withdrawals (2,584) (45,569) (5,586) (53,739)
---------- ----------- ----------- -----------
Trustee and investment advisor fees -- (1,662) (987) (2,649)
---------- ----------- ----------- -----------
Participants' equity at end of year $ 464,102 $ 1,488,988 $ 1,712,314 $ 3,665,404
========== =========== =========== ===========
</TABLE>
The accompanying notes are an integral part of this statement of changes in
participants' equity.
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<PAGE>
WEYERHAEUSER COMPANY
HOURLY 401 (k) PLAN - ROTHSCHILD
Notes to Financial Statements
December 31, 1993
Note 1. Synopsis of the Plan. The Weyerhaeuser Company Hourly
401(k) Plan - Rothschild (the Plan) was established
effective May 1, 1990. Participation in the Plan is
voluntary. Any hourly employee of the Rothschild,
Wisconsin Pulp Mill whose employment is covered by the
labor agreement with the UPIU Local 319 and who has
completed at least one year of service, is eligible to
participate in the Plan. Bankers Trust Company acts as
trustee in accordance with a Master Trust Agreement
dated January 1, 1992. The Plan is subject to the
provisions of the Employee Retirement Security Act of
1974 (ERISA).
The Plan is a "qualified cash or deferred arrangement"
(as that term is used in Section 401(k) of the Internal
Revenue Code) which allows participants to designate at
least 1 percent, but not more than 14 percent, of their
wages to be contributed to the Plan by Weyerhaeuser
Company (participant contributions). Employees are
100 percent vested in the value of their account.
Participant contributions may be suspended under
certain circumstances at the participant's request.
Participants have the option to invest up to 100
percent of their contributions, in 25 percent
increments, in any of three investment options:
Weyerhaeuser common shares, fixed income fund and/or
equity fund. The fixed income fund is comprised of
cash and group annuity contracts. The equity fund is a
portfolio of common stocks selected by an investment
manager and maintained by the trustee with the
objective of providing investment results that
approximate the overall performance of the common
stocks included in the Standard and Poor's Composite
Index of 500 stocks.
If a participant has not separated from service,
participant contributions can be withdrawn only after
age 59-1/2 or upon financial hardship.
Participants who have separated from service and whose
vested account balance exceeds $3,500 shall receive a
distribution of their entire interest in the Plan when
they so elect or at age 65. The non-vested portion of
the participant's account is forfeited upon
distribution of the account. At December 31, 1993,
there were $80,993 vested account balances related to
terminated employees included in the accompanying
statement of financial condition.
Note 2. Federal Income Taxes. The Plan's administrator
believes the Plan is exempt from federal income taxes
and a favorable determination letter will be requested
from the Internal Revenue Service. Employees who
participate in the Plan are subject to federal income
tax on distributions from the Plan in accordance with
the provisions of Section 402 of the Internal Revenue
Code of 1986.
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<PAGE>
WEYERHAEUSER COMPANY
HOURLY 401(k) PLAN - ROTHSCHILD
Note 3. Expenses. The employer pays all costs of administering
the Plan, including fees and expenses of the trustee,
the record keeper and external auditing fees.
Brokerage fees, stock transfer taxes and other
investment management fees directly incurred by the
trustee in buying and selling any assets of each fund
are paid by the trustee out of such fund as a part of
the cost of such assets, or as a reduction of the
proceeds received from the sale of such assets. A fee
is paid to the investment manager of the Fixed Income
and Equity Funds out of the proceeds of those funds.
Note 4. Cost of Securities. Securities in both the Equity Fund
and the Weyerhaeuser Company Common Stock Fund are
valued at market with costs accounted for on a weighted
average basis. Realized gains and losses and
unrealized appreciation and depreciation are computed
on a current value basis.
Note 5. Participants in Each Fund. As of December 31, 1993,
there were 359 participants in the Plan with 262
invested in the Equity Fund, 261 invested in the Fixed
Income Fund and 101 invested in the Weyerhaeuser
Company Common Stock Fund.
Note 6. Fair Value of Investments. The following methods and
assumptions were used to estimate the fair value of
each class of financial instruments:
Short-term investments. The carrying value
approximates fair value due to the short maturity of
those instruments.
Group Annuity Contracts. The Plan's administrator has
determined that it is not practicable to estimate the
fair value of the Plan's group annuity contract
holdings given the absence of a market for the trading
of existing contracts. Information pertinent to the
value of the group annuity contracts, as of
December 31, 1993, is as follows:
<TABLE>
<CAPTION>
Issuer Percent of Fund Rates Maturities
------------------------- --------------- --------- ------------
<S> <C> <C> <C>
Commonwealth 13.5% 6.6-8.6% 12/01/97-07/01/98
Principle Financial Group 11.1% 5.4-8.2% 06/30/98-03/19/99
Lincoln National 8.4% 6.3-7.0% 05/07/97-01/31/98
Hancock 8.0% 5.9% 09/01/97
Pacific Mutual 7.0% 7.5% 10/15/98
Equitable Life 6.7% 9.3% 04/29/94
Confederation Life 6.5% 7.0-8.9% 04/01/96-04/01/98
Provident National Life 6.1% 7.5% 12/15/97
Prudential 5.6% 7.6% 01/31/99
Metropolitan Life 5.5% 9.3% 06/30/94
Morgan 5.3% 7.7% 10/01/97
Other 16.3% 6.5-8.9% 06/15/96-04/22/00
----------
100.0%
==========
</TABLE>
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