Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

The following provides a reconciliation of cash, cash equivalents, and restricted cash at December 31:

(in thousands)	2023		2022		2021
Cash and cash equivalents	$	230,118	$	343,809	$	296,151
Restricted cash included in other long-term assets1		7,570		1,782		621
Total cash, cash equivalents, and restricted cash	$	237,688	$	345,591	$	296,772

1 Consists of proceeds held by a qualified intermediary that were or are intended to be reinvested in timberlands.

Supplemental Disclosures to Consolidated Statements of Cash Flows

The following presents supplemental disclosures to the Consolidated Statements of Cash Flows:

	Year Ended December 31,
(in thousands)	2023		2022		2021
NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property, plant and equipment additions	$	1,505	$	569	$	1,521
Accrued timberlands reforestation and roads	$	1,667	$	1,142	$	1,190
Equity issued as consideration in the CatchMark merger	$	—	$	508,314	$	—
Long-term debt and other liabilities assumed with CatchMark merger	$	—	$	323,102	$	—
Equity issued as consideration in the Loutre merger	$	—	$	—	$	100,930
Long-term debt assumed with Loutre merger	$	—	$	—	$	6,366
CASH FLOW INFORMATION
Cash paid during the year for:
Interest, net of amounts capitalized1	$	12,691	$	26,254	$	27,934
Income taxes, net	$	18,428	$	70,000	$	98,670

1 Cash paid for interest is net of proceeds from interest rate swaps and interest income. Net of cash received for interest income totaled $13.6 million, $3.9 million and $0.1 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Summary of Estimated Annual Amortization Expense

Estimated annual amortization expense for each of the next five years is as follows:

(in thousands)	2024		2025		2026		2027		2028
Estimated amortization expense1	$	1,779	$	1,488	$	780	$	780	$	159

1 These amounts could vary if acquisitions of additional intangible assets occur in the future.