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I ran the code Rick, but it only put all text from A1 in C5, see below.
Below that result I showed how the text looks in Word, with the non printing characters (formatting marks) showing, maybe they cause the problem?
The only thing I can think of is that after you copied the text into cell A1, the things you think are spaces between words are not actually space characters (ASCII 32). Just a guess, but they may be non-breakable spaces (ASCII 160). Try copying the text from Word without the formatting marks showing and see if that makes a difference. If not, then see it this fixes things....
Sub SplitOutArialNineElevenAndTwelve()
Dim X As Long, A As Long, B As Long, C As Long, NextSpace As Long
Dim Result As Variant, Txt As String, Words() As String
Txt = Replace(Range("A1").Value, Chr(160), " ")
ReDim Result(1 To 1 + Len(Txt) - Len(Replace(Txt, " ", "")), 1 To 3)
Words = Split(Txt)
For X = 0 To UBound(Words)
NextSpace = InStr(NextSpace + 1, " " & Txt, " ")
Select Case Range("A1").Characters(NextSpace, 1).Font.Size
Case 12: A = A + 1: Result(A, 1) = Words(X)
Case 11: B = B + 1: Result(B, 2) = Words(X)
Case 9: C = C + 1: Result(C, 3) = Words(X)
End Select
Next
Range("A5").Resize(UBound(Result), 3) = Result
End Sub