REVENUE (Tables)

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Contract Balances

The following table contains contract balances recorded in the Consolidated Balance Sheets at March 31, 2025 and December 31, 2024:

	March 31, 2025	December 31, 2024	Balance Sheet Location
Contract assets
Trade receivables, net	$10,414	$8,006	Trade receivables
Contract liabilities
Deferred revenue, current	17,732	20,902	Deferred revenue
Deferred revenue, non-current	12,354	10,697	Long-term deferred revenue

The following table summarizes revenue recognized during the three months ended March 31, 2025 and 2024 that was included in the contract liability balance at the beginning of each year:

	Three Months Ended March 31,
	2025	2024
Revenue recognized from contract liability balance at the beginning of the year	$9,089	$10,235

Schedule of Disaggregation of Revenue by Product

The following tables present our revenue from contracts with customers disaggregated by product type for the three months ended March 31, 2025 and 2024:

Three Months Ended	Southern Timber	Pacific Northwest Timber	Real Estate	Trading	Total
March 31, 2025
Pulpwood	$19,798	$1,265	—	—	$21,063
Sawtimber	20,565	19,106	—	407	40,078
Hardwood	1,529	—	—	—	1,529
Total Timber Sales	41,892	20,371	—	407	62,670
License Revenue, Primarily From Hunting	5,235	91	—	—	5,326
Land-Based Solutions (a)	2,755	30	—	—	2,785
Other Non-Timber Revenue	1,062	912	—	—	1,974
Total Non-Timber Sales	9,052	1,033	—	—	10,085
Improved Development	—	—	3,294	—	3,294
Rural	—	—	5,274	—	5,274
Deferred Revenue/Other (b)	—	—	1,290	—	1,290
Total Real Estate Sales	—	—	9,858	—	9,858
Revenue from Contracts with Customers	50,944	21,404	9,858	407	82,613
Lease Revenue	—	—	309	—	309
Total Revenue	$50,944	$21,404	$10,167	$407	$82,922
Three Months Ended	Southern Timber	Pacific Northwest Timber	Real Estate	Trading	Total
March 31, 2024
Pulpwood	$25,931	$1,551	—	—	$27,482
Sawtimber	33,740	22,677	—	2,970	59,387
Hardwood	1,195	—	—	—	1,195
Total Timber Sales	60,866	24,228	—	2,970	88,064
License Revenue, Primarily from Hunting	5,275	95	—	—	5,370
Land-Based Solutions (a)	1,710	—	—	—	1,710
Other Non-Timber Revenue	2,127	869	—	—	2,996
Total Non-Timber Sales	9,112	964	—	—	10,076
Improved Development	—	—	1,825	—	1,825
Rural	—	—	8,728	—	8,728
Timberland & Non-Strategic	—	—	610	—	610
Deferred Revenue/Other (b)	—	—	4,112	—	4,112
Total Real Estate Sales	—	—	15,275	—	15,275
Revenue from Contracts with Customers	69,978	25,192	15,275	2,970	113,415
Lease Revenue	—	—	289	—	289
Total Revenue	$69,978	$25,192	$15,564	$2,970	$113,704

(a)    Consists primarily of sales from carbon capture and storage (“CCS”) and solar energy contracts.

(b)    Includes deferred revenue adjustments, builder price participation and marketing fees related to Improved Development sales.    

The following tables present our timber sales disaggregated by contract type for the three months ended March 31, 2025 and 2024:

Three Months Ended	Southern Timber	Pacific Northwest Timber	Trading	Total
March 31, 2025
Stumpage Pay-as-Cut	$17,982	—	—	$17,982
Stumpage Lump Sum	426	1,150	—	1,576
Total Stumpage	18,408	1,150	—	19,558
Delivered Wood (Domestic)	23,484	19,178	297	42,959
Delivered Wood (Export)	—	43	110	153
Total Delivered	23,484	19,221	407	43,112
Total Timber Sales	$41,892	$20,371	$407	$62,670
March 31, 2024
Stumpage Pay-as-Cut	$33,530	$3	—	$33,533
Stumpage Lump Sum	—	1,981	—	1,981
Total Stumpage	33,530	1,984	—	35,514
Delivered Wood (Domestic)	25,113	19,559	7	44,679
Delivered Wood (Export)	2,223	2,685	2,963	7,871
Total Delivered	27,336	22,244	2,970	52,550
Total Timber Sales	$60,866	$24,228	$2,970	$88,064