Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

Note 11. Segment Information

The Company is managed based on the primary products it manufactures: pulp and wood products. Accordingly, the Company's four pulp mills and its 50% interest in the Cariboo mill are aggregated into the pulp segment, and the Friesau sawmill is a separate reportable segment, wood products. The Company's sandalwood and cross-laminated timber businesses are included in corporate and other as they do not meet the criteria to be reported as separate reportable segments.

None of the income or loss items following operating income in the Company's Interim Consolidated Statements of Operations are allocated to the segments, as those items are reviewed separately by management.

Note 11. Segment Information (continued)

Information about certain segment data for the three month periods ended March 31, 2022 and 2021, was as follows:

Three Months Ended March 31, 2022	Pulp		Wood Products		Corporate and Other			Consolidated
Revenues from external customers	$	485,931	$	101,033	$	5,777		$	592,741
Operating income (loss)	$	86,236	$	40,479	$	(4,364	)	$	122,351
Depreciation and amortization	$	27,684	$	3,637	$	795		$	32,116
Total assets (a)	$	1,841,105	$	289,080	$	326,759		$	2,456,944
Revenues by major products
Pulp	$	446,911	$	—	$	—		$	446,911
Lumber		—		92,366		3,764			96,130
Energy and chemicals		39,020		5,177		2,013			46,210
Wood residuals		—		3,490		—			3,490
Total revenues	$	485,931	$	101,033	$	5,777		$	592,741
Revenues by geographical markets (b)
U.S.	$	48,162	$	54,100	$	3,992		$	106,254
Foreign countries
Germany		140,054		21,708		—			161,762
China		145,998		182		—			146,180
Other countries		151,717		25,043		1,785			178,545
		437,769		46,933		1,785			486,487
Total revenues	$	485,931	$	101,033	$	5,777		$	592,741

(a) Total assets for the pulp segment includes the Company's $49,574 investment in joint ventures, primarily for the Cariboo mill.

(b) Sales are attributed to countries based on the ship-to location provided by the customer.      

Three Months Ended March 31, 2021	Pulp		Wood Products		Corporate and Other			Consolidated
Revenues from external customers	$	339,756	$	70,987	$	1,977		$	412,720
Operating income (loss)	$	25,296	$	27,977	$	(2,244	)	$	51,029
Depreciation and amortization	$	27,046	$	3,723	$	198		$	30,967
Revenues by major products
Pulp	$	317,582	$	—	$	—		$	317,582
Lumber		—		67,311		—			67,311
Energy and chemicals		22,174		2,114		1,977			26,265
Wood residuals		—		1,562		—			1,562
Total revenues	$	339,756	$	70,987	$	1,977		$	412,720
Revenues by geographical markets (a)
U.S.	$	45,872	$	45,092	$	759		$	91,723
Foreign countries
Germany		92,537		12,117		—			104,654
China		95,535		377		—			95,912
Other countries		105,812		13,401		1,218			120,431
		293,884		25,895		1,218			320,997
Total revenues	$	339,756	$	70,987	$	1,977		$	412,720

(a) Sales are attributed to countries based on the ship-to location provided by the customer.      

Note 11. Segment Information (continued)

As of December 31, 2021, the Company had total assets of $1,882,078 in the pulp segment, $258,965 in the wood products segment and $210,189 in corporate and other. Total assets for the pulp segment includes the Company's $49,651 investment in joint ventures, primarily for the Cariboo mill.

Revenues between segments are accounted for at prices that approximate fair value. These include revenues from the sale of residual fiber from the wood products segment to the pulp segment for use in the pulp production process and from the sale of residual fuel from the pulp segment to the wood products segment for use in energy production. For the three month period ended March 31, 2022, the pulp segment sold $nil of residual fuel to the wood products segment (2021 – $99) and the wood products segment sold $6,851 of residual fiber to the pulp segment (2021 – $2,932).