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Segment Information
 6 Months Ended
Jun. 30, 2017
Segment Reporting Information Additional Information [Abstract]  
Segment Information

NOTE 12. SEGMENT INFORMATION

The following table summarizes information by business segment:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(Dollars in thousands)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Resource

 

$

55,924

 

 

$

54,826

 

 

$

107,692

 

 

$

103,536

 

Wood Products

 

 

114,529

 

 

 

90,924

 

 

 

210,121

 

 

 

174,162

 

Real Estate

 

 

8,136

 

 

 

9,954

 

 

 

22,640

 

 

 

15,520

 

 

 

 

178,589

 

 

 

155,704

 

 

 

340,453

 

 

 

293,218

 

Intersegment Resource revenues1

 

 

(15,360

)

 

 

(14,209

)

 

 

(27,543

)

 

 

(23,827

)

Total consolidated revenues

 

$

163,229

 

 

$

141,495

 

 

$

312,910

 

 

$

269,391

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Resource

 

$

19,520

 

 

$

15,672

 

 

$

34,449

 

 

$

25,879

 

Wood Products

 

 

24,705

 

 

 

4,695

 

 

 

33,389

 

 

 

5,651

 

Real Estate2

 

 

5,725

 

 

 

(43,429

)

 

 

14,368

 

 

 

(41,354

)

Eliminations and adjustments

 

 

1,053

 

 

 

(969

)

 

 

2,112

 

 

 

496

 

 

 

 

51,003

 

 

 

(24,031

)

 

 

84,318

 

 

 

(9,328

)

Corporate

 

 

(10,230

)

 

 

(10,197

)

 

 

(19,636

)

 

 

(19,828

)

Operating income (loss)

 

 

40,773

 

 

 

(34,228

)

 

 

64,682

 

 

 

(29,156

)

Interest expense, net

 

 

(7,348

)

 

 

(8,206

)

 

 

(12,318

)

 

 

(14,231

)

Income (loss) before income taxes

 

$

33,425

 

 

$

(42,434

)

 

$

52,364

 

 

$

(43,387

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation, depletion and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Resource

 

$

4,274

 

 

$

5,387

 

 

$

8,658

 

 

$

11,515

 

Wood Products

 

 

1,839

 

 

 

1,800

 

 

 

3,666

 

 

 

3,701

 

Real Estate

 

 

—

 

 

 

1

 

 

 

1

 

 

 

3

 

 

 

 

6,113

 

 

 

7,188

 

 

 

12,325

 

 

 

15,219

 

Corporate

 

 

158

 

 

 

213

 

 

 

275

 

 

 

421

 

Bond discounts and deferred loan fees

 

 

370

 

 

 

468

 

 

 

743

 

 

 

834

 

Total depreciation, depletion and amortization

 

$

6,641

 

 

$

7,869

 

 

$

13,343

 

 

$

16,474

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basis of real estate sold:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate

 

$

1,047

 

 

$

3,509

 

 

$

5,856

 

 

$

5,754

 

Eliminations and adjustments

 

 

(65

)

 

 

(122

)

 

 

(84

)

 

 

(333

)

Total basis of real estate sold

 

$

982

 

 

$

3,387

 

 

$

5,772

 

 

$

5,421

 

 

 

1

Intersegment revenues are based on prevailing market prices of logs sold by our Resource segment to the Wood Products segment.

 

2

In the second quarter of 2016, we sold approximately 172,000 acres of timberlands located in central Idaho for $114 million at a loss of $48.5 million before taxes.