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REVENUE
 12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
RECLASSIFICATIONS
Effective April 1, 2020, we changed the composition of our Rural and Timberland & Non-Strategic Real Estate sales categories to better align with the way management internally evaluates real estate sales. The Rural category now includes all real estate sales (excluding development sales) representing a demonstrable premium above timberland value. The Timberland & Non-Strategic category now includes all real estate sales representing little to no premium to timberland value. This category consists primarily of sales of property that management views as non-strategic to our long-term portfolio as well as sales of property for capital allocation purposes that do not fit the definition of a Large Disposition. All prior period amounts have been reclassified to reflect the new composition of these two sales categories. The Improved Development, Unimproved Development and Large Disposition categories remain unchanged, and this reclassification had no impact on overall segment results.
NEW REAL ESTATE SALES CATEGORY

Effective September 2020, we added a new Real Estate sales category, “Conservation Easement,” in which we sell the development rights on a property but withhold the rights to grow and harvest timber.
Contract Balances
    The timing of revenue recognition, invoicing and cash collections results in accounts receivable and deferred revenue (contract liabilities) on the Consolidated Balance Sheets. Accounts receivable are recorded when we have an unconditional right to consideration for completed performance under the contract. Contract liabilities relate to payments received in advance of performance under the contract. Contract liabilities are recognized as revenue as (or when) we perform under the contract.
    The following table summarizes revenue recognized during the years ended December 31, 2020 and 2019 that was included in the contract liability balance at the beginning of each year:
 Year Ended December 31,
20202019
Revenue recognized from contract liability balance at the beginning of the year (a)$10,857 $10,039 

(a)    Revenue recognized was primarily from hunting licenses and the use of advances on pay-as-cut timber sales.

    
    
    The following tables present our revenue from contracts with customers disaggregated by product type for the years ended December 31, 2020, 2019 and 2018:
Year EndedSouthern TimberPacific Northwest TimberNew Zealand TimberTimber FundsReal EstateTradingElim.Total
December 31, 2020
Pulpwood$94,108 $10,581 $27,558 $784 — $10,260 — $143,291 
Sawtimber73,683 106,051 166,935 25,195 — 77,314 — 449,178 
Hardwood2,430 — — — — — — 2,430 
Total Timber Sales170,221 116,632 194,493 25,979 — 87,574 — 594,899 
License Revenue, Primarily From Hunting17,765 843 307 17 — — — 18,932 
Other Non-Timber/Carbon Revenue3,845 3,334 7,515 124 — — — 14,818 
Agency Fee Income— — — — — 1,160 — 1,160 
Total Non-Timber Sales21,610 4,177 7,822 141 — 1,160 — 34,910 
Improved Development— — — — 14,498 — — 14,498 
Unimproved Development— — — — 8,426 — — 8,426 
Rural— — — — 67,152 — — 67,152 
Timberland & Non-Strategic— — — — 19,255 — — 19,255 
Conservation Easement— — — — 3,099 — — 3,099 
Deferred Revenue/Other (b)— — — — 283 — — 283 
Large Dispositions— — — — 116,027 — — 116,027 
Total Real Estate Sales— — — — 228,740 — — 228,740 
Revenue from Contracts with Customers191,831 120,809 202,315 26,120 228,740 88,734 — 858,549 
Lease Revenue— — — — 605 — — 605 
Intersegment— — — 3,437 — 239 (3,676)— 
Total Revenue$191,831 $120,809 $202,315 $29,557 $229,345 $88,973 ($3,676)$859,154 
December 31, 2019
Pulpwood$86,537 $10,350 $32,925 — — $13,351 — $143,163 
Sawtimber67,360 72,377 198,481 — — 101,255 — 439,473 
Hardwood5,259 — — — — — — 5,259 
Total Timber Sales159,156 82,727 231,406 — — 114,606 — 587,895 
License Revenue, Primarily from Hunting18,270 717 361 — — — — 19,348 
Other Non-Timber/Carbon Revenue16,685 1,970 10,094 — — — — 28,749 
Agency Fee Income— — — — — 677 — 677 
Total Non-Timber Sales34,955 2,687 10,455 — — 677 — 48,774 
Improved Development— — — — 5,882 — — 5,882 
Unimproved Development— — — — 19,476 — — 19,476 
Rural (a)— — — — 47,647 — — 47,647 
Timberland & Non-Strategic (a)— — — — 1,338 — — 1,338 
Deferred Revenue/Other (b)— — — — 544 — — 544 
Total Real Estate Sales— — — — 74,887 — — 74,887 
Revenue from Contracts with Customers194,111 85,414 241,861 — 74,887 115,283 — 711,556 
Intersegment— — — — — 155 (155)— 
Total Revenue$194,111 $85,414 $241,861 — $74,887 $115,438 ($155)$711,556 
December 31, 2018
Pulpwood$80,134 $14,305 $28,737 — — $13,771 — $136,947 
Sawtimber60,295 92,166 213,206 — — 134,299 — 499,966 
Hardwood3,433 — — — — — — 3,433 
Total Timber Sales143,863 106,471 241,943 — — 148,070 — 640,347 
License Revenue, Primarily from Hunting16,285 709 401 — — — — 17,395 
Other Non-Timber/Carbon Revenue9,847 2,652 6,670 — — — — 19,169 
Agency Fee Income— — — — — 652 — 652 
Total Non-Timber Sales26,132 3,361 7,071 — — 652 — 37,216 
Improved Development— — — — 8,336 — — 8,336 
Unimproved Development— — — — 8,621 — — 8,621 
Rural (a)— — — — 46,280 — — 46,280 
Timberland & Non-Strategic (a)— — — — 75,281 — — 75,281 
Deferred Revenue/Other (b)— — — — 57 — — 57 
Total Real Estate Sales— — — — 138,575 — — 138,575 
Revenue from Contracts with Customers169,995 109,832 249,014 — 138,575 148,722 — 816,138 
Intersegment— — — — — 92 (92)— 
Total Revenue$169,995 $109,832 $249,014 — $138,575 $148,814 ($92)$816,138 
    
(a)    The years ended December 31, 2019 and 2018 reflect the reclassification of certain real estate sales between the Rural and Timberland & Non-Strategic sales categories to better align with the way management internally evaluates real estate sales.
(b)    Includes deferred revenue adjustments and marketing fees related to Improved Development sales.
The following tables present our timber sales disaggregated by contract type for the years ended December 31, 2020, 2019 and 2018:
Year EndedSouthern TimberPacific Northwest TimberNew Zealand TimberTimber FundsTradingTotal
December 31, 2020
Stumpage Pay-as-Cut $68,684 — — $1,731 — $70,415 
Stumpage Lump Sum2,027 8,142 — — — 10,169 
Total Stumpage70,711 8,142 — 1,731 — 80,584 
Delivered Wood (Domestic)85,996 108,490 62,568 24,248 1,768 283,070 
Delivered Wood (Export)13,514 — 131,925 — 85,806 231,245 
Total Delivered99,510 108,490 194,493 24,248 87,574 514,315 
Total Timber Sales$170,221 $116,632 $194,493 $25,979 $87,574 $594,899 
December 31, 2019
Stumpage Pay-as-Cut $71,943 — — — — $71,943 
Stumpage Lump Sum
7,428 2,749 — — — 10,177 
Total Stumpage79,371 2,749 — — — 82,120 
Delivered Wood (Domestic)
71,054 79,978 80,974 — 5,488 237,494 
Delivered Wood (Export)
8,731 — 150,432 — 109,118 268,281 
Total Delivered79,785 79,978 231,406 — 114,606 505,775 
Total Timber Sales
$159,156 $82,727 $231,406 — $114,606 $587,895 
December 31, 2018
Stumpage Pay-as-Cut $72,385 — — — — $72,385 
Stumpage Lump Sum
4,988 11,854 — — — 16,842 
Total Stumpage77,373 11,854 — — — 89,227 
Delivered Wood (Domestic)
60,931 94,617 90,631 — 6,141 252,320 
Delivered Wood (Export)
5,559 — 151,312 — 141,929 298,800 
Total Delivered66,490 94,617 241,943 — 148,070 551,120 
Total Timber Sales
$143,863 $106,471 $241,943 — $148,070 $640,347