SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Segment Reporting Information

The following tables summarize the segment information for the three months ended March 31, 2025 and 2024:


Three Months Ended	Southern Timber	Pacific Northwest Timber	Real Estate	Trading	Corporate and Other	Total
March 31, 2025
Sales	$50,944	$21,404	$10,167	$407	—	$82,922
Costs and Expenses
Cut & haul costs	(12,521)	(9,340)	—	—	—	(21,861)
Port / freight costs	—	(14)	—	(4)	—	(18)
Depreciation, depletion and amortization	(16,899)	(5,606)	(564)	—	(424)	(23,493)
Non-cash cost of land and improved development	—	—	(2,399)	—	—	(2,399)
Other costs and expenses (a)	(11,374)	(5,696)	(8,154)	(857)	(9,011)	(35,092)
Operating income (loss)	$10,150	$748	($950)	($454)	($9,435)	$59

Add: Restructuring charges (b)	—	—	—	—	1,110	1,110
Add: Depreciation, depletion and amortization	16,899	5,606	564	—	424	23,493
Add: Non-cash cost of land and improved development	—	—	2,399	—	—	2,399

Adjusted EBITDA	$27,049	$6,354	$2,013	($454)	($7,901)	$27,061

Reconciliation of segment results to consolidated income before taxes
Interest, net and miscellaneous income						($3,518)
Depreciation, depletion and amortization						(23,493)
Non-cash cost of land and improved development						(2,399)
Non-operating expense						(1,842)

Restructuring charges (b)						(1,110)

Loss from Continuing Operations Before Income Taxes						($5,301)
Income tax expense						(291)
Loss from Continuing Operations						($5,592)
Income from discontinued operations, net of tax						2,507
Net Loss						($3,085)

(a)Other costs and expenses for each reportable segment primarily includes other direct and indirect cost of sales and selling and general expenses.

(b)Restructuring charges include severance costs related to workforce optimization initiatives. Restructuring charges are recorded within the Consolidated Statements of Income and Comprehensive Income (Loss) under the caption “Other operating (expense) income, net.”


Three Months Ended	Southern Timber	Pacific Northwest Timber	Real Estate	Trading	Corporate and Other	Total
March 31, 2024
Sales	$69,978	$25,192	$15,564	$2,970	—	$113,704
Costs and Expenses
Cut & haul costs	(13,398)	(10,837)	—	—	—	(24,235)
Port / freight costs	(1,216)	(1,239)	—	(1,327)	—	(3,782)
Depreciation, depletion and amortization	(21,796)	(9,075)	(1,749)	—	(443)	(33,063)
Non-cash cost of land and improved development	—	—	(2,953)	—	—	(2,953)
Other costs and expenses (a)	(10,563)	(8,401)	(10,990)	(1,639)	(9,446)	(41,039)
Operating income (loss)	$23,005	($4,360)	($128)	$4	($9,889)	$8,632
Add: Depreciation, depletion and amortization	21,796	9,075	1,749	—	443	33,063
Add: Non-cash cost of land and improved development	—	—	2,953	—	—	2,953

Adjusted EBITDA	$44,801	$4,715	$4,574	$4	($9,446)	$44,648

Reconciliation of segment results to consolidated income before taxes
Interest, net and miscellaneous income						($7,054)
Depreciation, depletion and amortization						(33,063)
Non-cash cost of land and improved development						(2,953)
Non-operating expense						(7,079)

Loss from Continuing Operations Before Income Taxes						($5,501)
Income tax benefit						991
Loss from Continuing Operations						($4,510)
Income from discontinued operations, net of tax						6,816
Net Income						$2,306

(a)Other costs and expenses for each reportable segment primarily includes other direct and indirect cost of sales and selling and general expenses.



	Three Months Ended March 31,
	2025	2024
Capital Expenditures
Southern Timber	$9,615	$11,003
Pacific Northwest Timber	2,366	4,119
Real Estate	42	79

Corporate and other	—	59
Total Capital Expenditures	$12,023	$15,260