40-F Filing

WEST FRASER TIMBER CO., LTD CIK: 1402388 FY 2022

Filing Information

Form Type	40-F
Accession Number	`0001628280-23-003555`
Period End Date	20221231
Filing Date	20230214
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	wfg-20221231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 34 Cash Flow Statement 72 Stockholders Equity 25 Comprehensive Income 10

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalents`	$1.57B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalents`	$461.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalents`	$1.16B	USD	Point-in-time
Receivables	`TradeAndOtherCurrentReceivables`	$508.00M	USD	Point-in-time
Receivables	`TradeAndOtherCurrentReceivables`	$350.00M	USD	Point-in-time
Income taxes receivable	`CurrentTaxAssetsCurrent`	$145.00M	USD	Point-in-time
Income taxes receivable	`CurrentTaxAssetsCurrent`	$42.00M	USD	Point-in-time
Inventories	`Inventories`	$1.03B	USD	Point-in-time
Inventories	`Inventories`	$1.06B	USD	Point-in-time
Prepaid expenses	`CurrentPrepayments`	$60.00M	USD	Point-in-time
Prepaid expenses	`CurrentPrepayments`	$38.00M	USD	Point-in-time
Current assets	`CurrentAssets`	$3.22B	USD	Point-in-time
Current assets	`CurrentAssets`	$2.75B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipment`	$3.98B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipment`	$4.10B	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipment`	$1.66B	USD	Point-in-time
Timber licences	`LicenseIntangibleAsset`	$368.00M	USD	Point-in-time
Timber licences	`LicenseIntangibleAsset`	$351.00M	USD	Point-in-time
Goodwill and other intangible assets	`GoodwillAndIntangibleAssetsExcludingLicences`	$2.44B	USD	Point-in-time
Goodwill and other intangible assets	`GoodwillAndIntangibleAssetsExcludingLicences`	$2.36B	USD	Point-in-time
Export duty deposits	`NonCurrentExportDutyDeposits`	$242.00M	USD	Point-in-time
Export duty deposits	`NonCurrentExportDutyDeposits`	$354.00M	USD	Point-in-time
Other assets	`OtherNoncurrentAssets`	$58.00M	USD	Point-in-time
Other assets	`OtherNoncurrentAssets`	$175.00M	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssets`	$4.00M	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssets`	$8.00M	USD	Point-in-time
Assets	`Assets`	$9.97B	USD	Point-in-time
Assets	`Assets`	$10.43B	USD	Point-in-time
Payables and accrued liabilities	`TradeAndOtherCurrentPayables`	$848.00M	USD	Point-in-time
Payables and accrued liabilities	`TradeAndOtherCurrentPayables`	$722.00M	USD	Point-in-time
Current portion of long-term debt	`CurrentPortionOfLongtermBorrowings`	-	USD	Point-in-time
Current portion of long-term debt	`CurrentPortionOfLongtermBorrowings`	-	USD	Point-in-time
Current portion of reforestation and decommissioning obligations	`ShorttermProvisionForDecommissioningRestorationAndRehabilitationCosts`	$58.00M	USD	Point-in-time
Current portion of reforestation and decommissioning obligations	`ShorttermProvisionForDecommissioningRestorationAndRehabilitationCosts`	$46.00M	USD	Point-in-time
Income taxes payable	`CurrentTaxLiabilitiesCurrent`	$12.00M	USD	Point-in-time
Income taxes payable	`CurrentTaxLiabilitiesCurrent`	$312.00M	USD	Point-in-time
Current liabilities	`CurrentLiabilities`	$792.00M	USD	Point-in-time
Current liabilities	`CurrentLiabilities`	$1.21B	USD	Point-in-time
Long-term debt	`LongtermBorrowings`	$499.00M	USD	Point-in-time
Long-term debt	`LongtermBorrowings`	$499.00M	USD	Point-in-time
Other liabilities	`OtherNoncurrentLiabilities`	$360.00M	USD	Point-in-time
Other liabilities	`OtherNoncurrentLiabilities`	$268.00M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilities`	$795.00M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilities`	$712.00M	USD	Point-in-time
Liabilities	`Liabilities`	$2.78B	USD	Point-in-time
Liabilities	`Liabilities`	$2.35B	USD	Point-in-time
Share capital	`IssuedCapital`	$3.40B	USD	Point-in-time
Share capital	`IssuedCapital`	$2.67B	USD	Point-in-time
Retained earnings	`RetainedEarnings`	$4.50B	USD	Point-in-time
Retained earnings	`RetainedEarnings`	$5.28B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncome`	$-249.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncome`	$-332.00M	USD	Point-in-time
Shareholders equity	`Equity`	$7.66B	USD	Point-in-time
Shareholders equity	`Equity`	$2.48B	USD	Point-in-time
Shareholders equity	`Equity`	$7.62B	USD	Point-in-time
Liabilities and shareholders' equity	`EquityAndLiabilities`	$9.97B	USD	Point-in-time
Liabilities and shareholders' equity	`EquityAndLiabilities`	$10.43B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractsWithCustomers`	$9.70B	USD	Annual
Sales	`RevenueFromContractsWithCustomers`	$10.52B	USD	Annual
Cost of products sold	`CostOfSales`	$4.64B	USD	Annual
Cost of products sold	`CostOfSales`	$5.14B	USD	Annual
Freight and other distribution costs	`DistributionCosts`	$846.00M	USD	Annual
Freight and other distribution costs	`DistributionCosts`	$963.00M	USD	Annual
Export duties, net	`ExportDuties`	$18.00M	USD	Annual
Export duties, net	`ExportDuties`	$146.00M	USD	Annual
Amortization	`AmortisationExpense`	$589.00M	USD	Annual
Amortization	`AmortisationExpense`	$584.00M	USD	Annual
Selling, general and administration	`SellingGeneralAndAdministrativeExpense`	$312.00M	USD	Annual
Selling, general and administration	`SellingGeneralAndAdministrativeExpense`	$365.00M	USD	Annual
Equity-based compensation	`ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets`	$5.00M	USD	Annual
Equity-based compensation	`ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets`	$40.00M	USD	Annual
Restructuring and impairment charges	`ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss`	$60.00M	USD	Annual
Restructuring and impairment charges	`ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss`	-	USD	Annual
Operating expense	`OperatingExpense`	$6.57B	USD	Annual
Operating expense	`OperatingExpense`	$7.14B	USD	Annual
Operating earnings	`ProfitLossFromOperatingActivities`	$3.94B	USD	Annual
Operating earnings	`ProfitLossFromOperatingActivities`	$2.56B	USD	Annual
Finance income (expense), net	`FinanceIncomeCost`	$-3.00M	USD	Annual
Finance income (expense), net	`FinanceIncomeCost`	$-45.00M	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$37.00M	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$-2.00M	USD	Annual
Earnings before tax	`ProfitLossBeforeTax`	$3.90B	USD	Annual
Earnings before tax	`ProfitLossBeforeTax`	$2.59B	USD	Annual
Tax provision	`IncomeTaxExpenseContinuingOperations`	$618.00M	USD	Annual
Tax provision	`IncomeTaxExpenseContinuingOperations`	$951.00M	USD	Annual
Earnings	`ProfitLoss`	$2.95B	USD	Annual
Earnings	`ProfitLoss`	$1.98B	USD	Annual
Basic (in usd per share)	`BasicEarningsLossPerShare`	$21.06	USD	Annual
Basic (in usd per share)	`BasicEarningsLossPerShare`	$27.03	USD	Annual
Diluted (in usd per share)	`DilutedEarningsLossPerShare`	$20.86	USD	Annual
Diluted (in usd per share)	`DilutedEarningsLossPerShare`	$27.03	USD	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Earnings	`ProfitLoss`	$2.95B	USD	Annual
Earnings	`ProfitLoss`	$1.98B	USD	Annual
Amortization	`AdjustmentsForAmortisationExpense`	$584.00M	USD	Annual
Amortization	`AdjustmentsForAmortisationExpense`	$589.00M	USD	Annual
Restructuring and impairment charges	`AdjustmentsForRestructuringAndImpairmentCharges`	$60.00M	USD	Annual
Restructuring and impairment charges	`AdjustmentsForRestructuringAndImpairmentCharges`	-	USD	Annual
Finance expense, net	`AdjustmentsForFinanceCosts`	$45.00M	USD	Annual
Finance expense, net	`AdjustmentsForFinanceCosts`	$3.00M	USD	Annual
Foreign exchange (gain) loss	`AdjustmentsForUnrealisedForeignExchangeLossesGains`	$-28.00M	USD	Annual
Foreign exchange (gain) loss	`AdjustmentsForUnrealisedForeignExchangeLossesGains`	$5.00M	USD	Annual
Export duty	`AdjustmentsForExportDutyDepositsPayable`	$-99.00M	USD	Annual
Export duty	`AdjustmentsForExportDutyDepositsPayable`	$14.00M	USD	Annual
Retirement benefit expense	`AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities`	$103.00M	USD	Annual
Retirement benefit expense	`AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities`	$111.00M	USD	Annual
Contributions to retirement benefit plans	`AdjustmentsForContributionsToEmployeeBenefitPlan`	$77.00M	USD	Annual
Contributions to retirement benefit plans	`AdjustmentsForContributionsToEmployeeBenefitPlan`	$76.00M	USD	Annual
Tax provision	`AdjustmentsForIncomeTaxExpense`	$951.00M	USD	Annual
Tax provision	`AdjustmentsForIncomeTaxExpense`	$618.00M	USD	Annual
Income taxes paid	`IncomeTaxesPaidRefundClassifiedAsOperatingActivities`	$982.00M	USD	Annual
Income taxes paid	`IncomeTaxesPaidRefundClassifiedAsOperatingActivities`	$946.00M	USD	Annual
Other	`OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities`	$-13.00M	USD	Annual
Other	`OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities`	$-11.00M	USD	Annual
Receivables	`AdjustmentsForDecreaseIncreaseInTradeAccountReceivable`	$5.00M	USD	Annual
Receivables	`AdjustmentsForDecreaseIncreaseInTradeAccountReceivable`	$140.00M	USD	Annual
Inventories	`AdjustmentsForDecreaseIncreaseInInventories`	$20.00M	USD	Annual
Inventories	`AdjustmentsForDecreaseIncreaseInInventories`	$-139.00M	USD	Annual
Prepaid expenses	`AdjustmentsForDecreaseIncreaseInPrepaidExpenses`	$-14.00M	USD	Annual
Prepaid expenses	`AdjustmentsForDecreaseIncreaseInPrepaidExpenses`	$-6.00M	USD	Annual
Payables and accrued liabilities	`AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables`	$79.00M	USD	Annual
Payables and accrued liabilities	`AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables`	$-99.00M	USD	Annual
Cash flows from operating activities	`CashFlowsFromUsedInOperatingActivities`	$2.21B	USD	Annual
Cash flows from operating activities	`CashFlowsFromUsedInOperatingActivities`	$3.55B	USD	Annual
Repayment of long-term debt	`RepaymentsOfNoncurrentBorrowings`	-	USD	Annual
Repayment of long-term debt	`RepaymentsOfNoncurrentBorrowings`	$667.00M	USD	Annual
Repayment of lease obligations	`RepaymentsOfCurrentBorrowings`	$14.00M	USD	Annual
Repayment of lease obligations	`RepaymentsOfCurrentBorrowings`	$9.00M	USD	Annual
Make-whole premium paid	`PaymentsForMakeWholePremiumPaid`	$60.00M	USD	Annual
Make-whole premium paid	`PaymentsForMakeWholePremiumPaid`	-	USD	Annual
Finance expense paid	`FinanceCostsPaidClassifiedAsFinancingActivities`	$37.00M	USD	Annual
Finance expense paid	`FinanceCostsPaidClassifiedAsFinancingActivities`	$23.00M	USD	Annual
Financing fees paid	`FinanceFeesPaidClassifiedAsFinancingActivities`	$4.00M	USD	Annual
Financing fees paid	`FinanceFeesPaidClassifiedAsFinancingActivities`	-	USD	Annual
Repurchase of Common shares for cancellation	`PaymentsToAcquireOrRedeemEntitysShares`	$1.32B	USD	Annual
Repurchase of Common shares for cancellation	`PaymentsToAcquireOrRedeemEntitysShares`	$1.99B	USD	Annual
Issuance of Common shares	`ProceedsFromIssuingShares`	-	USD	Annual
Issuance of Common shares	`ProceedsFromIssuingShares`	$7.00M	USD	Annual
Dividends paid	`DividendsPaidClassifiedAsFinancingActivities`	$99.00M	USD	Annual
Dividends paid	`DividendsPaidClassifiedAsFinancingActivities`	$75.00M	USD	Annual
Cash flows used in financing activities	`CashFlowsFromUsedInFinancingActivities`	$-2.16B	USD	Annual
Cash flows used in financing activities	`CashFlowsFromUsedInFinancingActivities`	$-2.13B	USD	Annual
Acquired cash and cash equivalents from Norbord Acquisition1	`CashFlowsFromObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities`	$642.00M	USD	Annual
Acquired cash and cash equivalents from Norbord Acquisition1	`CashFlowsFromObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities`	-	USD	Annual
Angelina Acquisition, net of cash acquired	`CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities`	-	USD	Annual
Angelina Acquisition, net of cash acquired	`CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities`	$302.00M	USD	Annual
Additions to capital assets	`PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities`	$635.00M	USD	Annual
Additions to capital assets	`PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities`	$477.00M	USD	Annual
Interest received	`InterestReceivedClassifiedAsInvestingActivities`	$2.00M	USD	Annual
Interest received	`InterestReceivedClassifiedAsInvestingActivities`	$17.00M	USD	Annual
Other	`OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities`	$1.00M	USD	Annual
Other	`OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities`	$7.00M	USD	Annual
Cash flows used in investing activities	`CashFlowsFromUsedInInvestingActivities`	$-286.00M	USD	Annual
Cash flows used in investing activities	`CashFlowsFromUsedInInvestingActivities`	$-459.00M	USD	Annual
Change in cash and cash equivalents	`IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges`	$-378.00M	USD	Annual
Change in cash and cash equivalents	`IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges`	$1.10B	USD	Annual
Foreign exchange effect on cash and cash equivalents	`EffectOfExchangeRateChangesOnCashAndCashEquivalents`	$-28.00M	USD	Annual
Foreign exchange effect on cash and cash equivalents	`EffectOfExchangeRateChangesOnCashAndCashEquivalents`	$5.00M	USD	Annual
Cash and cash equivalents - beginning of period	`CashAndCashEquivalents`	$1.57B	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalents`	$461.00M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalents`	$1.16B	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalents`	$1.57B	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalents`	$461.00M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalents`	$1.16B	USD	Point-in-time

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Dividends recognised as distributions to owners per share	`DividendsRecognisedAsDistributionsToOwnersPerShare`	0.70	CAD	1 Quarter
Dividends recognised as distributions to owners per share	`DividendsRecognisedAsDistributionsToOwnersPerShare`	$1.15	USD	Annual
Dividends recognised as distributions to owners per share	`DividendsRecognisedAsDistributionsToOwnersPerShare`	0.70	CAD	1 Quarter
Dividends recognised as distributions to owners per share	`DividendsRecognisedAsDistributionsToOwnersPerShare`	0.70	CAD	1 Quarter
Dividends recognised as distributions to owners per share	`DividendsRecognisedAsDistributionsToOwnersPerShare`	$0.20	USD	1 Quarter
Balance, beginning of year	`Equity`	$7.66B	USD	Point-in-time
Balance, beginning of year	`Equity`	$2.48B	USD	Point-in-time
Balance, beginning of year	`Equity`	$7.62B	USD	Point-in-time
Earnings	`ProfitLoss`	$2.95B	USD	Annual
Earnings	`ProfitLoss`	$1.98B	USD	Annual
Translation loss on foreign operations	`OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation`	$-83.00M	USD	Annual
Translation loss on foreign operations	`OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation`	$-9.00M	USD	Annual
Actuarial gain on retirement benefits, net of tax	`OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans`	$164.00M	USD	Annual
Actuarial gain on retirement benefits, net of tax	`OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans`	$153.00M	USD	Annual
Issuance of Common shares	`IssueOfEquity`	$3.49B	USD	Annual
Dividends declared	`DividendsPaid`	$103.00M	USD	Annual
Dividends declared	`DividendsPaid`	$85.00M	USD	Annual
Acquired equity-settled share option plan	`IncreaseDecreaseThroughAcquisitionOfEquitySettledShareOptionPlan`	$14.00M	USD	Annual
Equity-settled share option expense	`IncreaseDecreaseThroughSharebasedPaymentTransactions`	$1.00M	USD	Annual
Conversion of equity-settled share option plan to cash-settled	`IncreaseDecreaseThroughConversionOfEquitySettledShareOptionToCashSettledOptionPlan`	$-15.00M	USD	Annual
Repurchase of Common shares for cancellation	`StockRepurchasedAndCancelledDuringPeriodValue`	$1.99B	USD	Annual
Repurchase of Common shares for cancellation	`StockRepurchasedAndCancelledDuringPeriodValue`	$1.32B	USD	Annual
Balance, end of year	`Equity`	$7.66B	USD	Point-in-time
Balance, end of year	`Equity`	$2.48B	USD	Point-in-time
Balance, end of year	`Equity`	$7.62B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Earnings	`ProfitLoss`	$2.95B	USD	Annual
Earnings	`ProfitLoss`	$1.98B	USD	Annual
Translation loss on foreign operations	`OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation`	$-83.00M	USD	Annual
Translation loss on foreign operations	`OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation`	$-9.00M	USD	Annual
Actuarial gain on retirement benefits, net of tax	`OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans`	$164.00M	USD	Annual
Actuarial gain on retirement benefits, net of tax	`OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans`	$153.00M	USD	Annual
Total other comprehensive income	`OtherComprehensiveIncome`	$144.00M	USD	Annual
Total other comprehensive income	`OtherComprehensiveIncome`	$81.00M	USD	Annual
Comprehensive earnings	`ComprehensiveIncome`	$2.06B	USD	Annual
Comprehensive earnings	`ComprehensiveIncome`	$3.09B	USD	Annual

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.