Timber and Timberlands

12 Months Ended

Dec. 31, 2024

Timber And Timberlands [Abstract]

Timber and Timberlands

NOTE 6. TIMBER AND TIMBERLANDS

Timber and Timberlands consist of the following at December 31:

(in thousands)	2024		2023
Timber and timberlands	$	2,263,991	$	2,347,300
Logging roads		93,160		93,098
Total timber and timberlands, net	$	2,357,151	$	2,440,398

Depletion from company-owned lands was $62.2 million, $69.0 million, and $54.0 million in 2024, 2023, and 2022, respectively. Amortization of road costs, such as bridges, culverts and gravel surfacing, totaled $3.5 million, $3.6 million and $3.5 million in 2024, 2023, and 2022, respectively.

In January 2024, we acquired approximately 16,000 acres of timberlands in Arkansas for approximately $31.4 million. We funded the acquisition with cash on hand. Additionally, on June 17, 2024, we completed the sale of 34,100 acres of four-year average age Southern timberlands to Forest Investment Associates for $56.7 million.

Future payments due under timber cutting contracts at December 31, 2024 were $14.9 million.