Income Taxes

6 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 9. INCOME TAXES

As a REIT, we generally are not subject to federal and state corporate income taxes on income from investments in real estate, including our timberlands, that we distribute to our stockholders. We conduct certain activities through our PotlatchDeltic taxable REIT subsidiaries (each, a TRS), which are subject to corporate level federal and state income taxes. These activities are principally composed of our wood products manufacturing operations and certain real estate investments. Therefore, income tax expense or benefit is primarily due to pre-tax book income or loss of the TRS, as well as permanent book versus tax differences and discrete items.

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the U.S. The OBBBA permanently extends key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation and the business interest expense limitation. The legislation includes multiple effective dates, with certain provisions effective in 2025 and others phased in through 2027. In accordance with Accounting Standards Codification 740, Income Taxes, the effects of changes in tax laws must be recognized in the period of enactment. We are currently evaluating the impact of the OBBBA, and the resulting effects will be reflected in the financial statements for the quarter ended September 30, 2025.