Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Summary of Revenues by Major Product

The following table represents our revenues by major product:

	Three Months Ended March 31,
(in thousands)	2021			2020
Timberlands
Northern region
Sawlogs	$	76,181		$	41,407
Pulpwood		499			1,435
Stumpage		—			316
Other		300			303
Total Northern revenues		76,980			43,461
Southern region
Sawlogs		22,416			23,939
Pulpwood		9,161			11,201
Stumpage		764			829
Other		2,595			2,995
Total Southern revenues		34,936			38,964
Total Timberlands revenues		111,916			82,425
Wood Products
Lumber		229,682			111,939
Residuals and Panels		39,614			33,061
Total Wood Products revenues		269,296			145,000
Real Estate
Rural real estate		10,025			7,292
Development real estate		8,053			2,292
Other		2,235			1,385
Total Real Estate revenues		20,313			10,969
Total segment revenues		401,525			238,394
Intersegment Timberlands revenues1		(47,332	)		(29,514	)
Total consolidated revenues	$	354,193		$	208,880

¹ Intersegment revenues represent logs sold by our Timberlands segment to our Wood Products segment.

Summary of Information by Business Segment

	Three Months Ended March 31,
(in thousands)	2021			2020
Adjusted EBITDDA:
Timberlands	$	67,858		$	34,982
Wood Products		125,555			13,229
Real Estate		16,593			7,340
Corporate		(10,710	)		(8,672	)
Eliminations and adjustments		(4,310	)		692
Total Adjusted EBITDDA		194,986			47,571
Interest expense, net1		(3,574	)		(3,698	)
Depreciation, depletion and amortization		(17,996	)		(18,638	)
Basis of real estate sold		(8,823	)		(6,498	)
Pension settlement charge		—			(42,988	)
Non-operating pension and other postretirement employee benefits		(3,414	)		(3,635	)
(Loss) gain on disposal of fixed assets		(34	)		192
Income (loss) before income taxes	$	161,145		$	(27,694	)
Depreciation, depletion and amortization:
Timberlands	$	11,417		$	12,591
Wood Products		6,203			5,630
Real Estate		155			160
Corporate		221			257
		17,996			18,638
Bond discounts and deferred loan fees1		403			406
Total depreciation, depletion and amortization	$	18,399		$	19,044
Basis of real estate sold:
Real Estate	$	8,829		$	6,504
Eliminations and adjustments		(6	)		(6	)
Total basis of real estate sold	$	8,823		$	6,498

¹ Bond discounts and deferred loan fees are reported within interest expense, net on the Condensed Consolidated Statements of Operations.