Savings Plans, Pension Plans and Other Postretirement Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits, Description [Abstract]

Schedule of Changes in Projected Benefit Obligations

Changes in benefit obligation, plan assets and funded status for our pension and OPEB plans were as follows for the year ended December 31:

	Pension Plans						OPEB
(in thousands)	2024			2023			2024			2023
Benefit obligation at beginning of year	$	(233,202	)	$	(232,198	)	$	(17,064	)	$	(22,370	)
Service cost		(5,285	)		(5,422	)		(93	)		(110	)
Interest cost		(12,492	)		(12,551	)		(877	)		(1,175	)
Actuarial (loss) gain		(450	)		86			(3,140	)		5,717
Benefits paid		18,382			16,883			2,129			874
Benefit obligation at end of year	$	(233,047	)	$	(233,202	)	$	(19,045	)	$	(17,064	)
Fair value of plan assets at beginning of year	$	177,875		$	172,246		$	—		$	—
Actual return on plan assets		4,793			20,050			—			—
Employer contributions and benefit payments		6,436			2,462			2,129			874
Benefits paid		(18,382	)		(16,883	)		(2,129	)		(874	)
Fair value of plan assets at end of year	$	170,722		$	177,875		$	—		$	—
Amounts recognized in the consolidated balance sheets:
Current liabilities	$	(2,630	)	$	(2,586	)	$	(2,468	)	$	(1,949	)
Noncurrent liabilities		(59,695	)		(52,741	)		(16,577	)		(15,115	)
Funded status	$	(62,325	)	$	(55,327	)	$	(19,045	)	$	(17,064	)

Pension Plans with Projected Benefit Obligations Greater than Plan Assets

Pension plans with projected benefit obligations greater than plan assets were as follows at December 31:

	2024		2023
Projected benefit obligations	$	233,047	$	233,202
Fair value of plan assets	$	170,722	$	177,875

Pension Plans with Accumulated Benefit Obligations Greater than Plan Assets

Pension plans with accumulated benefit obligations greater than plan assets at December 31 are as follows:

	2024		2023
Accumulated benefit obligations	$	224,357	$	223,486
Fair value of plan assets	$	170,722	$	177,875

Long-term Targeted Asset Allocation Ranges

The long-term targeted asset allocation ranges for the PotlatchDeltic Retirement Plans’ asset categories are as follows:

Asset Category	Allocation Range
Global equities	15% - 25%
Fixed income securities	70% - 80%
Alternatives, which may include equities and fixed income securities	3% - 8%
Cash and cash equivalents	0% - 5%

Schedule of Actual Asset Allocations of the PotlatchDeltic Retirement Plans' Assets

The asset allocations of the PotlatchDeltic Retirement Plans’ assets by asset category were as follows at December 31:

	Pension Plans
Asset Category	2024			2023
Global equities		20	%		19	%
Fixed income securities		74			74
Other (includes cash and cash equivalents and alternatives)		6			7
Total		100	%		100	%

Schedule of Allocation of Plan Assets

The assets in our defined benefit pension plan were invested across the following categories:

	December 31, 2024
(in thousands)	Level 1		Investments measured at net asset value		Total
Cash and cash equivalents	$	1,707	$	—	$	1,707
Collective investment funds1		—		169,015		169,015
Total	$	1,707	$	169,015	$	170,722

	December 31, 2023
(in thousands)	Level 1		Level 2		Total
Cash and cash equivalents	$	3,009	$	—	$	3,009
Global equity securities2		34,534		—		34,534
Fixed income securities3		114,224		17,613		131,837
Alternatives4		8,495		—		8,495
Total	$	160,262	$	17,613	$	177,875

1.	At December 31, 2024, three collective investment funds held substantially all of the pension plan funds. These funds have diversified holdings among various asset classes and allocation ranges approved by the Benefits Committee. These funds are generally valued based on their respective net asset value (or its equivalent) provided by the fund administrator as a practical expedient to estimate fair value due to the absence of a readily determinable fair value. These values represent the per-unit price at which new investors are permitted to invest and existing investors are permitted to exit. The collective investment funds may be redeemed daily with limited notice. At December 31, 2023, there were no collective investment funds held by the Plan.
2.	Level 1 assets are international and domestic managed investments with quoted prices on major security markets and also include investments in registered investment company funds for which market quotations are generally readily available on the primary market or exchange on which they are traded. The global equity securities track the MSCI All-Country World Index.
3.	Level 1 assets are investments in a diversified portfolio of fixed income instruments of varying maturities representing corporate securities, U.S. treasuries, municipals and futures. Level 2 assets are thinly traded investments in a diversified portfolio of fixed income instruments of varying maturities representing mostly corporate securities. Both Level 1 & Level 2 investments track the Bloomberg Barclay’s Long-term Credit Index.
4.	Level 1 assets are long-term investment funds which are invested in tangible assets and real asset companies such as infrastructure, natural resources and timber.

Pre-tax Components of Net Periodic Cost (Benefit)

Pre-tax components of net periodic cost (benefit) recognized in our Consolidated Statements of Operations were as follows for the year ended December 31:

	Pension Plans									OPEB
(in thousands)	2024			2023			2022			2024			2023			2022
Service cost	$	5,285		$	5,422		$	6,805		$	93		$	110		$	316
Interest cost		12,492			12,551			10,646			877			1,175			914
Expected return on plan assets		(12,947	)		(12,109	)		(9,920	)		—			—			—
Amortization of prior service cost (credit)		20			45			73			—			—			(381	)
Amortization of actuarial loss (gain)		78			(83	)		5,400			(1,323	)		(665	)		623
Net periodic cost (benefit) before pension settlement charges		4,928			5,826			13,004			(353	)		620			1,472
Pension settlement charge		—			—			14,165			—			—			—
Other settlements		—			—			783			—			—			—
Net periodic cost (benefit)	$	4,928		$	5,826		$	27,952		$	(353	)	$	620		$	1,472

Schedule of Accumulated Other Comprehensive Income (Loss)

The amounts recorded in Accumulated Other Comprehensive Income on our Consolidated Balance Sheets, which have not yet been recognized as components of net periodic benefit costs at December 31, net of tax, consist of:

	Pension Plans						OPEB
(in thousands)	2024			2023			2024		2023
Net (loss) income	$	(33,702	)	$	(27,307	)	$	5,051	$	8,397
Prior service cost		—			(15	)		—		—
Total amount unrecognized	$	(33,702	)	$	(27,322	)	$	5,051	$	8,397

Schedule of Expected Future Benefit Payments

Estimated future benefit payments, which reflect expected future service, are as follows for the years indicated:

(in thousands)	Pension Plans		OPEB
2025	$	16,825	$	2,468
2026	$	16,987	$	2,356
2027	$	17,171	$	2,136
2028	$	17,235	$	1,967
2029	$	17,602	$	1,810
2030-2034	$	87,236	$	6,906

Weighted Average Assumptions Used to Determine the Benefit Obligation for our Pension and OPEB Plans

The weighted-average assumptions used to determine the benefit obligation for our pension and OPEB plans were as follows at December 31:

	Pension Plans		OPEB
	2024	2023	2024		2023
Discount rate	5.75%	5.55%	5.65%		5.45%
Rate of compensation increase	3.00%	3.00%		—		—

Schedule of Weighted Average Assumptions Used for All Pension and OPEB Plans to Determine the Net Periodic Benefit Cost

The weighted-average assumptions used for all pension and OPEB plans to determine the net periodic benefit cost were as follows for the year ended December 31:

	Pension Plans			OPEB
	2024	2023	2022	2024		2023		2022
Discount rate	5.55%	5.60%	3.00%	5.45%		5.55%		2.95%
Expected return on plan assets	6.50%	6.25%	4.50%		—		—		—
Rate of compensation increase	3.00%	3.00 - 5.00%	3.00 - 5.00%		—		—		—