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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income     $ 384,678 $ 66,813
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation, depletion and amortization $ 21,534 $ 20,594 57,365 57,809
Basis of real estate sold 6,697 5,249 22,733 14,440
Change in deferred taxes     3,221 (14,387)
Pension and other postretirement employee benefits     16,595 17,750
Pension settlement charge       42,988
Equity-based compensation expense     6,345 5,928
Net gain on insurance recoveries (4,394)   (4,394)  
Other, net     633 (544)
Change in working capital and operating-related activities, net     (20,082) 12,706
Real estate development expenditures     (6,434) (4,200)
Funding of pension and other postretirement employee benefits     (7,418) (8,458)
Net cash provided by operating activities     453,242 190,845
CASH FLOWS FROM INVESTING ACTIVITIES        
Property, plant and equipment additions     (26,291) (14,666)
Timberlands reforestation and roads     (12,236) (12,345)
Acquisition of timber and timberlands     (2,450) (4,738)
Proceeds from insurance recoveries - property, plant & equipment     13,250  
Other, net     993 3,484
Net cash used in investing activities     (26,734) (28,265)
CASH FLOWS FROM FINANCING ACTIVITIES        
Distributions to common stockholders     (82,462) (80,434)
Repurchase of common stock       (15,364)
Other, net     (3,619) (1,032)
Net cash used in financing activities     (86,081) (96,830)
Change in cash, cash equivalents and restricted cash     340,427 65,750
Cash, cash equivalents and restricted cash at beginning of period     252,340 84,254
Cash, cash equivalents and restricted cash at end of period 592,767 150,004 592,767 150,004
NONCASH INVESTING AND FINANCING ACTIVITIES        
Accrued property, plant and equipment additions     2,695 3,785
Accrued timberlands reforestation and roads     1,590 1,536
Cash and cash equivalents $ 592,767 148,919 $ 592,767 148,919
Restricted cash included in other long-term assets [1]   $ 1,085   $ 1,085
Restricted Cash, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssetsMember us-gaap:OtherAssetsMember us-gaap:OtherAssetsMember us-gaap:OtherAssetsMember
Total cash, cash equivalents, and restricted cash $ 592,767 $ 150,004 $ 592,767 $ 150,004
[1]

Amounts included in restricted cash represent proceeds held by a qualified intermediary that are intended to be reinvested in timber and timberlands.