TIMBERLAND ACQUISITIONS AND DIVESTITURES	9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
TIMBERLAND ACQUISITIONS AND DIVESTITURES	NOTE 15: TIMBERLAND ACQUISITIONS AND DIVESTITURES Divestitures On October 30, 2025, we announced an agreement to sell 86 thousand acres of Georgia and Alabama timberlands for approximately $220 million. The sale is subject to customary closing conditions and is expected to close in fourth quarter 2025. This sale is not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. However, the related assets have met the relevant criteria to be classified as held for sale on our current period Consolidated Balance Sheet. As of September 30, 2025, assets held for sale of $101 million within our Timberlands segment were included in "Assets held for sale" on our Consolidated Balance Sheet. On October 1, 2025, we completed the sale of 28 thousand acres of Oregon timberlands for approximately $190 million. This sale is not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. However, the related assets have met the relevant criteria to be classified as held for sale on our current period Consolidated Balance Sheet. As of September 30, 2025, assets held for sale of $40 million within our Timberlands segment were included in "Assets held for sale" on our Consolidated Balance Sheet. Acquisitions On August 27, 2025, we completed the purchase of 117 thousand acres of North Carolina and Virginia timberlands for $364 million. We recorded $361 million of timberland assets in "Timber and timberlands at cost, less depletion" and $3 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet. On August 13, 2025, we completed the purchase of approximately 10 thousand acres of Washington timberlands for $95 million. We recorded $94 million of timberland assets in "Timber and timberlands at cost, less depletion" and $1 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet. On July 25, 2024, we announced acquisitions totaling 84 thousand acres of Alabama timberlands for $244 million. The first transaction was completed on May 30, 2024 and was comprised of 13 thousand acres for $48 million. We recorded $47 million of timberland assets in "Timber and timberlands at cost, less depletion" and $1 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet. The second transaction was completed on August 28, 2024 and was comprised of 32 thousand acres for $82 million. We recorded $81 million of timberland assets in "Timber and timberlands at cost, less depletion" and $1 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet. The third transaction was completed on October 9, 2024 and was comprised of 39 thousand acres for $114 million.

TIMBERLAND ACQUISITIONS AND DIVESTITURES

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

TIMBERLAND ACQUISITIONS AND DIVESTITURES

NOTE 15: TIMBERLAND ACQUISITIONS AND DIVESTITURES

Divestitures

On October 30, 2025, we announced an agreement to sell 86 thousand acres of Georgia and Alabama timberlands for approximately $220 million. The sale is subject to customary closing conditions and is expected to close in fourth quarter 2025. This sale is not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. However, the related assets have met the relevant criteria to be classified as held for sale on our current period Consolidated Balance Sheet. As of September 30, 2025, assets held for sale of $101 million within our Timberlands segment were included in "Assets held for sale" on our Consolidated Balance Sheet.

On October 1, 2025, we completed the sale of 28 thousand acres of Oregon timberlands for approximately $190 million. This sale is not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. However, the related assets have met the relevant criteria to be classified as held for sale on our current period Consolidated Balance Sheet. As of September 30, 2025, assets held for sale of $40 million within our Timberlands segment were included in "Assets held for sale" on our Consolidated Balance Sheet.

Acquisitions

On August 27, 2025, we completed the purchase of 117 thousand acres of North Carolina and Virginia timberlands for $364 million. We recorded $361 million of timberland assets in "Timber and timberlands at cost, less depletion" and $3 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet.

On August 13, 2025, we completed the purchase of approximately 10 thousand acres of Washington timberlands for $95 million. We recorded $94 million of timberland assets in "Timber and timberlands at cost, less depletion" and $1 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet.

On July 25, 2024, we announced acquisitions totaling 84 thousand acres of Alabama timberlands for $244 million. The first transaction was completed
on May 30, 2024 and was comprised of 13 thousand acres for $48 million. We recorded $47 million of timberland assets in "Timber and timberlands at cost, less depletion" and $1 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet. The second transaction was completed on August 28, 2024 and was comprised of 32 thousand acres for $82 million. We recorded $81 million of timberland assets in "Timber and timberlands at cost, less depletion" and $1 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet. The third transaction was completed on October 9, 2024 and was comprised of 39 thousand acres for $114 million.