Timber and Timberlands

12 Months Ended

Dec. 31, 2022

Timber And Timberlands [Abstract]

Timber and Timberlands

NOTE 6. TIMBER AND TIMBERLANDS

Timber and Timberlands consist of the following at December 31:

(in thousands)	2022		2021
Timber and timberlands	$	2,416,134	$	1,597,011
Logging roads		92,238		85,660
Total timber and timberlands, net	$	2,508,372	$	1,682,671

Depletion from company-owned lands totaled $54.0 million, $40.4 million and $46.3 million in 2022, 2021 and 2020, respectively. Amortization of road costs, such as bridges, culverts and gravel surfacing, totaled $3.5 million, $3.5 million and $3.6 million in 2022, 2021 and 2020, respectively.

During the year ended December 31, 2022, we were the successful bidder for three bolt-on timberland transactions, aggregating approximately $101.0 million, consisting of approximately 46,000 acres in Mississippi and Arkansas. Additionally, on September 14, 2022, we completed our merger with CatchMark which consists of approximately 348,000 acres in Alabama, Georgia and South Carolina. See Note 17: Mergers for additional information.

Future payments due under timber cutting contracts at December 31, 2022 were $12.7 million.