PRINCETON LUMBER MILL DIVESTITURE

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]

PRINCETON LUMBER MILL DIVESTITURE

NOTE 16: PRINCETON LUMBER MILL DIVESTITURE

On September 2, 2025, we completed the sale of our Princeton lumber mill for approximately $85 million. The total purchase price is inclusive of mill assets, the associated timber licenses in British Columbia and the value of working capital as of the closing date. Pursuant to the transaction closing, a gain on the sale of $29 million was recognized within our Wood Products segment in "Other operating (income) costs, net" in our Consolidated Statement of Operations. The transfer of all associated timber licenses in British Columbia remains subject to regulatory approval as of third quarter 2025, which we expect will follow in the ensuing months. A portion of the total purchase price is held in escrow as of the date of the sale and will be released in conjunction with the transfer of the associated timber licenses. We recorded this portion within "Receivables, net" and "Other assets, net" on our Consolidated Balance Sheet.