Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

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)	2024		2023		2022
Cash and cash equivalents	$	151,551	$	230,118	$	343,809
Restricted cash included in other current and long-term assets1		174		7,570		1,782
Total cash, cash equivalents, and restricted cash	$	151,725	$	237,688	$	345,591

1. Amounts included in restricted cash represent proceeds held by a qualified intermediary that were or are intended to be reinvested in timberlands. At December 31, 2024, 2023, and 2022, $0, $2.8 million and $0, respectively, was classified as Other current assets.

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)	2024			2023		2022
NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property, plant and equipment additions	$	10,809		$	1,505	$	569
Accrued timberlands reforestation and roads	$	1,728		$	1,667	$	1,142
Equity issued as consideration in the CatchMark merger	$	—		$	—	$	508,314
Long-term debt and other liabilities assumed with CatchMark merger	$	—		$	—	$	323,102
CASH FLOW INFORMATION
Cash paid (received) during the year for:
Interest, net of amounts capitalized1	$	18,722		$	12,691	$	26,254
Income taxes, net	$	(5,667	)	$	18,428	$	70,000

1. Cash paid for interest is net of proceeds from interest rate swaps and interest income. Net cash received for interest income totaled $7.4 million, $13.6 million, and $3.9 million for the years ended December 31, 2024, 2023 ,and 2022, respectively.

Summary of Estimated Annual Amortization Expense

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

(in thousands)	2025		2026		2027		2028		2029
Estimated amortization expense1	$	1,488	$	780	$	780	$	159	$	50

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