REVENUE (Tables)

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Contract Balances

The following table summarizes revenue recognized during the three and six months ended June 30, 2025 and 2024 that was included in the contract liability balance at the beginning of each year:

	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Revenue recognized from contract liability balance at the beginning of the year	$6,759	$8,281	$15,849	$18,529

Schedule of Disaggregation of Revenue by Product

The following tables present our revenue from contracts with customers disaggregated by product type for the three and six months ended June 30, 2025 and 2024:

Three Months Ended	Southern Timber	Pacific Northwest Timber	Real Estate	Trading	Total
June 30, 2025
Pulpwood	$19,436	$1,259	—	—	$20,695
Sawtimber	23,404	19,903	—	1,399	44,706
Hardwood	923	—	—	—	923
Total Timber Sales	43,763	21,162	—	1,399	66,324
License Revenue, Primarily from Hunting	5,331	104	—	—	5,435
Land-Based Solutions (a)	2,780	32	—	—	2,812
Other Non-Timber Revenue	1,450	1,085	—	—	2,535
Total Non-Timber Sales	9,561	1,221	—	—	10,782
Improved Development	—	—	8,484	—	8,484
Unimproved Development	—	—	3,000	—	3,000
Rural	—	—	15,729	—	15,729
Deferred Revenue/Other (b)	—	—	1,875	—	1,875
Total Real Estate Sales	—	—	29,088	—	29,088
Revenue from Contracts with Customers	53,324	22,383	29,088	1,399	106,194
Lease Revenue	—	—	344	—	344
Total Revenue	$53,324	$22,383	$29,432	$1,399	$106,538
Three Months Ended	Southern Timber	Pacific Northwest Timber	Real Estate	Trading	Total
June 30, 2024
Pulpwood	$24,027	$1,461	—	—	$25,488
Sawtimber	25,200	21,439	—	561	47,200
Hardwood	672	—	—	—	672
Total Timber Sales	49,899	22,900	—	561	73,360
License Revenue, Primarily from Hunting	5,284	130	—	—	5,414
Land-Based Solutions (a)	2,586	10	—	—	2,596
Other Non-Timber Revenue	1,556	1,243	—	—	2,799
Total Non-Timber Sales	9,426	1,383	—	—	10,809
Improved Development	—	—	2,575	—	2,575
Rural	—	—	7,470	—	7,470
Deferred Revenue/Other (b)	—	—	5,050	—	5,050
Total Real Estate Sales	—	—	15,095	—	15,095
Revenue from Contracts with Customers	59,325	24,283	15,095	561	99,264
Lease Revenue	—	—	375	—	375
Total Revenue	$59,325	$24,283	$15,470	$561	$99,639

(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.    

Six Months Ended	Southern Timber	Pacific Northwest Timber	Real Estate	Trading	Total
June 30, 2025
Pulpwood	$39,234	$2,524	—	—	$41,758
Sawtimber	43,970	39,009	—	1,805	84,784
Hardwood	2,451	—	—	—	2,451
Total Timber Sales	85,655	41,533	—	1,805	128,993
License Revenue, Primarily From Hunting	10,566	195	—	—	10,761
Land-Based Solutions (a)	5,535	61	—	—	5,596
Other Non-Timber Revenue	2,512	1,998	—	—	4,510
Total Non-Timber Sales	18,613	2,254	—	—	20,867
Improved Development	—	—	11,778	—	11,778
Unimproved Development	—	—	3,000	—	3,000
Rural	—	—	21,003	—	21,003
Deferred Revenue/Other (b)	—	—	3,165	—	3,165
Total Real Estate Sales	—	—	38,946	—	38,946
Revenue from Contracts with Customers	104,268	43,787	38,946	1,805	188,806
Lease Revenue	—	—	653	—	653
Total Revenue	$104,268	$43,787	$39,599	$1,805	$189,459
Six Months Ended	Southern Timber	Pacific Northwest Timber	Real Estate	Trading	Total
June 30, 2024
Pulpwood	$49,958	$3,012	—	—	$52,970
Sawtimber	58,940	44,116	—	3,532	106,588
Hardwood	1,867	—	—	—	1,867
Total Timber Sales	110,765	47,128	—	3,532	161,425
License Revenue, Primarily from Hunting	10,559	225	—	—	10,784
Land-Based Solutions (a)	4,294	20	—	—	4,314
Other Non-Timber Revenue	3,684	2,102	—	—	5,786
Total Non-Timber Sales	18,537	2,347	—	—	20,884
Improved Development	—	—	4,400	—	4,400
Rural	—	—	16,198	—	16,198
Timberland & Non-Strategic	—	—	610	—	610
Deferred Revenue/Other (b)	—	—	9,162	—	9,162
Total Real Estate Sales	—	—	30,370	—	30,370
Revenue from Contracts with Customers	129,302	49,475	30,370	3,532	212,679
Lease Revenue	—	—	664	—	664
Total Revenue	$129,302	$49,475	$31,034	$3,532	$213,343

(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 and six months ended June 30, 2025 and 2024:

Three Months Ended	Southern Timber	Pacific Northwest Timber	Trading	Total
June 30, 2025
Stumpage Pay-as-Cut	$19,132	—	—	$19,132
Stumpage Lump Sum	—	561	—	561
Total Stumpage	19,132	561	—	19,693
Delivered Wood (Domestic)	24,631	20,601	1,399	46,631
Total Delivered	24,631	20,601	1,399	46,631
Total Timber Sales	$43,763	$21,162	$1,399	$66,324
June 30, 2024
Stumpage Pay-as-Cut	$26,095	$5	—	$26,100
Stumpage Lump Sum	—	1,554	—	1,554
Total Stumpage	26,095	1,559	—	27,654
Delivered Wood (Domestic)	22,005	21,341	14	43,360
Delivered Wood (Export)	1,799	—	547	2,346
Total Delivered	23,804	21,341	561	45,706
Total Timber Sales	$49,899	$22,900	$561	$73,360

Six Months Ended	Southern Timber	Pacific Northwest Timber	Trading	Total
June 30, 2025
Stumpage Pay-as-Cut	$37,113	—	—	$37,113
Stumpage Lump Sum	426	1,711	—	2,137
Total Stumpage	37,539	1,711	—	39,250
Delivered Wood (Domestic)	48,116	39,779	1,696	89,591
Delivered Wood (Export)	—	43	109	152
Total Delivered	48,116	39,822	1,805	89,743
Total Timber Sales	$85,655	$41,533	$1,805	$128,993
June 30, 2024
Stumpage Pay-as-Cut	$59,624	$8	—	$59,632
Stumpage Lump Sum	—	3,535	—	3,535
Total Stumpage	59,624	3,543	—	63,167
Delivered Wood (Domestic)	47,118	40,901	22	88,041
Delivered Wood (Export)	4,023	2,684	3,510	10,217
Total Delivered	51,141	43,585	3,532	98,258
Total Timber Sales	$110,765	$47,128	$3,532	$161,425