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5
Environmental Matters
Our discussion of environmental matters is presented under the caption “Environmental” in
“Item 7.Management’s Discussion and Analysisof Financial Condition and Results of Operations”of
this Form 10-K. In addition, certain environmental matters are discussed under “Item 3. Legal
Proceedings” of this Form10-K.
Capital Investment
Information concerning our capital expenditures is presented under thecaption“Investment
Activities” and in the table entitled “2006 Capital Investment bySegment” in “Item 7. Management’s
Discussion and Analysis of Financial Condition and Results of Operations” of this Form 10-K.
Acquisitions and Divestitures
We engage in acquisition and divestiture discussions with other companies and make
acquisitions and divestitures from time to time. It is our policy to reviewour operations periodically
and to dispose of assets that do not meet our criteria for return on investment, or cease to warrant
retentionfor other reasons. See Note 2, Saleof Paper, Forest Products and Timberland Assets; and
Note 6, Other Operating, Net, of the Notes to Consolidated Financial Statements in“Item 8. Financial
Statements and Supplementary Data” of this Form10 -K fora descriptionof significant acquisitions,
divestitures andasset sales completed during 2006, 2005 and 2004.
Geographic Areas
Our discussion of financial information by geographic area is presented inNote 17, Segment
Information, of the Notes to Consolidated Financial Statements in “Item 8. Financial Statements and
Supplementary Data” of this Form10-K.
Identification of Executive Officers
Information with respect toour executive officers is set forth in “Item 10.Directors and Executive
Officers of the Registrant” of this Form10-K.
Employees
On December 30, 2006, we had approximately 36,000 employees, including approximately
11,000 part-time employees.
ITEM 1A. RISK FACTORS
Cautionary and Forward-Looking Statements
This Annual Report on Form 10-K contains forward-looking statements. Statementsthat are not
historical or currentfacts, including statements about our expectations, anticipated financial results
andfuture business prospects, are forward-looking statements. You can identify these statements by
our use of words such as“may,” “will,” “expect,” “believe,”“should,” “plan,” “anticipate” andother
similar expressions. Youcan find examples of these statements throughout thisreport, including
Management’s Discussion and Analysis of Financial Condition and Results of Operations. We cannot
guarantee that our actual results will be consistent with the forward-looking statements we make in
thisreport. We have listed below some of theinherent risks and uncertainties that could cause our
actual results to differ materially from those we project. We do not assume an obligation to update any
forward-looking statement.