HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Higher and Better Use Timberlands and Real Estate Development Investments

Changes in higher and better use timberlands and real estate development investments from December 31, 2023 to September 30, 2024 are shown below:


	Higher and Better Use Timberlands and Real Estate Development Investments
	Land and Timber	Development Investments	Total
Non-current portion at December 31, 2023	$86,986	$18,609	$105,595
Plus: Current portion (a)	1,699	24,639	26,338
Total Balance at December 31, 2023	88,685	43,248	131,933
Non-cash cost of land and improved development	(1,120)	(12,835)	(13,955)
Amortization of parcel real estate development investments	—	(5,264)	(5,264)
Timber depletion from harvesting activities and basis of timber sold in real estate sales	(1,115)	—	(1,115)
Capitalized real estate development investments (b)	—	26,878	26,878
Capital expenditures (silviculture)	233	—	233

Intersegment transfers	14,319	—	14,319

Total Balance at September 30, 2024	101,002	52,027	153,029
Less: Current portion (a)	(12,942)	(1,110)	(14,052)
Non-current portion at September 30, 2024	$88,060	$50,917	$138,977

(a)The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 13 — Inventory for additional information.

(b)Capitalized real estate development investments include $1.0 million of capitalized interest and $7.8 million of parcel real estate development investments. Parcel real estate development investments represent investments made for specific lots and/or commercial parcels that are currently under contract or expected to be ready for market within one year.