RESTRICTED CASH

9 Months Ended

Sep. 30, 2022

Restricted Cash and Investments [Abstract]

Restricted cash, Timber Funds includes the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests.

Restricted cash, excluding Timber Funds includes cash deposited with a like-kind exchange (“LKE”) intermediary. In order to qualify for LKE treatment, the proceeds from real estate sales must be deposited with a third-party intermediary. These proceeds are accounted for as restricted cash until a suitable replacement property is acquired. In the event LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. Additionally, restricted cash, excluding Timber Funds, includes cash balances held in escrow as collateral for certain contractual obligations related to our Heartwood development project as well as cash held in escrow for real estate sales.

The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2022 and 2021:


	Nine Months Ended September 30,
	2022	2021

Restricted cash, excluding Timber Funds:
Restricted cash deposited with LKE intermediary	$15,627	—
Restricted cash held in escrow	625	625
Total restricted cash shown in the Consolidated Balance Sheets, excluding Timber Funds	16,252	625
Restricted cash shown in the Consolidated Balance Sheets, Timber Funds	1,464	49,209

Cash and cash equivalents	261,804	431,806






Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows	$279,520	$481,640