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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 21,876 $ 62,101 $ 333,900
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation, depletion and amortization 113,098 121,154 98,234
Basis of real estate sold 86,870 31,392 29,921
Change in deferred taxes (12,776) (9,269) (5,257)
Pension and other postretirement employee benefits 4,575 6,446 15,259
Pension settlement charge     14,165
Equity-based compensation expense 11,010 9,115 18,497
Gain on fire damage 0 (39,436) (34,505)
Amortization related to redesignated forward-starting interest rate swaps 10,766 10,329 3,050
Interest received under swaps with other-than-insignificant financing element (29,673) (25,646) (3,002)
Other, net (1,278) (2,447) (1,283)
Change in working capital and operating-related activities, net of merger      
Receivables, net (1,468) 921 9,418
Inventories, net (4,694) (10,706) 4,410
Other assets 6,479 (758) (7,629)
Accounts payable and accrued liabilities (1,541) (12,558) 97
Other liabilities 199 (3,087) 3,115
Real estate development expenditures (8,088) (11,504) (8,102)
Funding of pension and other postretirement employee benefits (8,565) (3,336) (5,065)
Proceeds from insurance recoveries 1,680 36,400 26,678
Net cash from operating activities 188,470 159,111 491,901
CASH FLOWS FROM INVESTING ACTIVITIES      
Property, plant and equipment additions (63,891) (95,916) (56,976)
Timberlands reforestation and roads (24,764) (23,863) (17,718)
Acquisition of timber and timberlands (32,341) (1,834) (110,110)
Proceeds from property insurance   1,356 8,750
Cash acquired in CatchMark merger     23,571
Interest received under swaps with other-than-insignificant financing element 27,634 23,757 2,798
Other, net 1,300 1,196 2,165
Net cash from investing activities (92,062) (95,304) (147,520)
CASH FLOWS FROM FINANCING ACTIVITIES      
Distribution to common stockholders (142,350) (143,595) (208,133)
Repurchase of common stock (35,017) (25,011) (54,549)
Proceeds from issuance of long-term debt 176,000 40,000 317,500
Repayment of long-term debt (175,735) (40,000) (343,000)
Other, net (5,269) (3,104) (7,380)
Net cash from financing activities (182,371) (171,710) (295,562)
Change in cash, cash equivalents and restricted cash (85,963) (107,903) 48,819
Cash, cash equivalents and restricted cash at beginning of period 237,688 345,591 296,772
Cash, cash equivalents and restricted cash at end of period $ 151,725 $ 237,688 $ 345,591