SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables summarize the segment information for the three and nine months ended September 30, 2023 and 2022:

	Three Months Ended September 30,		Nine Months Ended September 30,
SALES	2023	2022	2023	2022
Southern Timber	$63,973	$64,549	$204,125	$207,584
Pacific Northwest Timber	29,325	34,397	96,061	119,834
New Zealand Timber	70,435	72,452	175,438	202,723
Real Estate	31,175	12,435	79,492	81,032
Trading	6,782	11,582	34,767	52,727
Intersegment Eliminations (a)	(111)	(128)	(357)	(226)
Total	$201,579	$195,287	$589,526	$663,674

(a)Primarily consists of log marketing fees paid to our Trading segment from our Southern Timber and Pacific Northwest Timber segments for marketing log export sales.

	Three Months Ended September 30,		Nine Months Ended September 30,
OPERATING INCOME	2023	2022	2023	2022
Southern Timber	$18,634	$22,474	$62,565	$76,883
Pacific Northwest Timber (a)	(557)	2,179	(6,475)	11,729
New Zealand Timber (b)	17,555	9,280	19,265	22,653
Real Estate (c)	9,187	15,749	18,720	36,953
Trading	(52)	177	356	84
Corporate and Other	(9,411)	(8,956)	(28,350)	(26,613)
Total Operating Income	35,356	40,903	66,081	121,689
Unallocated interest expense and other (d)	(12,069)	(7,804)	(15,030)	(25,486)
Total Income before Income Taxes	$23,287	$33,099	$51,051	$96,203

(a)The three and nine months ended September 30, 2022 include $1.1 million of timber write-offs resulting from casualty events. Timber write-offs resulting from casualty events are recorded within the Consolidated Statements of Income and Comprehensive Income under the caption “Cost of Sales.”

(b)The nine months ended September 30, 2023 includes a $2.3 million timber write-off resulting from a casualty event. Timber write-offs resulting from casualty events are recorded within the Consolidated Statements of Income and Comprehensive Income under the caption “Cost of Sales.”

(c)The three and nine months ended September 30, 2022 include an $11.5 million gain associated with the multi-family apartment complex sale attributable to noncontrolling interests (“NCI”). The gain associated with the multi-family apartment complex sale attributable to noncontrolling interests are recorded within the Consolidated Statements of Income and Comprehensive Income under the caption “Other operating (expense) income, net.”

(d)The nine months ended September 30, 2023 includes $20.5 million of net recoveries associated with legal settlements.

	Three Months Ended September 30,		Nine Months Ended September 30,
DEPRECIATION, DEPLETION AND AMORTIZATION	2023	2022	2023	2022
Southern Timber	$19,153	$14,116	$61,631	$46,832
Pacific Northwest Timber	8,330	9,356	28,221	35,587
New Zealand Timber	5,952	6,302	16,335	18,192
Real Estate	3,088	961	6,826	12,671
Corporate and Other	444	316	1,268	939
Total	$36,967	$31,051	$114,281	$114,221

	Three Months Ended September 30,		Nine Months Ended September 30,
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	2023	2022	2023	2022
Real Estate	$6,586	$3,149	$20,189	$20,289
Total	$6,586	$3,149	$20,189	$20,289