SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 December 12, 2005 ---------------------------------- (Date of earliest event report) WEYERHAEUSER COMPANY (Exact name of registrant as specified in charter) Washington 1-4825 91-0470860 ---------- ------ ---------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification incorporation or Number) organization) Federal Way, Washington 98063-9777 (Address of principal executive offices) (zip code) Registrant's telephone number, including area code: (253) 924-2345 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ----- Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ----- Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ----- Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) ----- Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) TABLE OF CONTENTS Item 2.06. Material Impairments SIGNATURES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C., 20549 ITEM 2.06. MATERIAL IMPAIRMENTS (a) In November, 2005, voters in Livermore, California defeated an initiative by a wholly-owned subsidiary of Weyerhaeuser Company to annex and re-zone its Las Positas property. The property contains approximately 1,400 acres and is currently zoned for 20-acre tracts, although the current zoning is unapproved. After reviewing its options with respect to the property, the Company has decided to hold the property indefinitely for future development. On December 12, 2005, the company determined that a charge for impairment of the Las Positas property is required. (b) The company estimates the impairment charge required for the Las Positas property to be approximately $33 million, pre-tax. (c) The company does not expect to incur future cash expenditures in connection with the impairment charge. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WEYERHAEUSER COMPANY By /s/ Steven J. Hillyard --------------------------- Its: Vice President and Chief Accounting Officer Date: December 12, 2005