XML 89 R77.htm IDEA: XBRL DOCUMENT v3.25.3
SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Segment Reporting Information (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2024
USD ($)
a
Dec. 31, 2023
USD ($)
a
Dec. 31, 2022
USD ($)
a
Segment Reporting Information [Line Items]      
Sales $ 987,929 $ 788,373 $ 577,183
Costs and Expenses (547,582) (528,916) (392,297)
Depreciation, depletion and amortization 113,854 136,565 123,463
OPERATING INCOME (364,107) (184,696) (135,401)
Costs related to disposition initiatives (849)    
Restructuring charges (1,139) 0 0
Add: Non-cash cost of land and improved development (41,368) (29,768) (28,374)
Gain on sale of large disposition of timberlands     (11,480)
Reconciliation of reportable segment results to consolidated income before taxes      
Income from Continuing Operations Before Income Taxes 339,838 159,607 104,416
Income tax benefit 1,022 (293) (3,112)
INCOME FROM CONTINUING OPERATIONS 340,860 159,314 101,304
Income from operations of discontinued operations, net of tax 28,123 19,181 21,487
NET INCOME 368,983 178,495 122,791
Interest rate swaps | Derivatives Designated as Cash Flow Hedges | Designated as Hedging Instrument      
Reconciliation of reportable segment results to consolidated income before taxes      
Gain on derivative, net 1,600    
Large Disposition Of Timberlands      
Segment Reporting Information [Line Items]      
Gain on sale of large disposition of timberlands (291,078) (105,078) (16,606)
Large Dispositions | Large Disposition Of Timberlands      
Reconciliation of reportable segment results to consolidated income before taxes      
Threshold for large dispositions $ 20,000 $ 20,000 $ 20,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations      
Reconciliation of reportable segment results to consolidated income before taxes      
Sale of land (in acres) | a 200,000 55,000 11,000
Sale of land consideration $ 495,000 $ 242,200 $ 30,500
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Southeast Oklahoma      
Reconciliation of reportable segment results to consolidated income before taxes      
Sale of land (in acres) | a 91,000    
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Washington      
Reconciliation of reportable segment results to consolidated income before taxes      
Sale of land (in acres) | a 109,000    
Real Estate | Large Dispositions      
Segment Reporting Information [Line Items]      
Depreciation, depletion and amortization   156,000 37,600
Real Estate | Large Dispositions | Large Disposition Of Timberlands      
Segment Reporting Information [Line Items]      
Sales $ 495,000 242,200 30,500
Depreciation, depletion and amortization 156,000 91,100 8,300
Non-Cash Cost of Land and Improved Development (37,600) (43,700) (4,600)
Operating Segments      
Segment Reporting Information [Line Items]      
Sales 987,929 788,373 577,183
Depreciation, depletion and amortization 268,018 225,983 130,538
Non-Cash Cost of Land and Improved Development (78,962) (73,458) (32,934)
Other costs and expenses (133,218) (136,508) (102,547)
OPERATING INCOME (406,729) (224,272) (171,385)
Depreciation, depletion and amortization from continuing operations 112,063 134,853 122,208
Add: Non-cash cost of land and improved development (41,368) (29,768) (28,374)
Add: Timber write-offs resulting from casualty events     729
Gain on sale of large disposition of timberlands     (11,480)
Reportable segment adjusted EBITDA 269,082 283,815 294,610
Operating Segments | Large Dispositions | Large Disposition Of Timberlands      
Segment Reporting Information [Line Items]      
OPERATING INCOME (291,078) (105,078) (16,606)
Operating Segments | Cut & haul costs      
Segment Reporting Information [Line Items]      
Costs and Expenses (93,042) (114,529) (126,708)
Operating Segments | Port / freight costs      
Segment Reporting Information [Line Items]      
Costs and Expenses (7,960) (13,623) (13,071)
Operating Segments | Southern Timber      
Segment Reporting Information [Line Items]      
Sales 251,642 265,134 264,688
Depreciation, depletion and amortization 73,409 79,974 60,298
Non-Cash Cost of Land and Improved Development 0 0 0
Other costs and expenses (46,406) (45,968) (36,747)
OPERATING INCOME (77,903) (76,335) (96,632)
Depreciation, depletion and amortization from continuing operations 73,409 79,974 60,298
Add: Non-cash cost of land and improved development 0 0 0
Add: Timber write-offs resulting from casualty events     0
Gain on sale of large disposition of timberlands     0
Reportable segment adjusted EBITDA 151,312 156,309 156,930
Operating Segments | Southern Timber | Large Dispositions | Large Disposition Of Timberlands      
Segment Reporting Information [Line Items]      
OPERATING INCOME 0 0 0
Operating Segments | Southern Timber | Cut & haul costs      
Segment Reporting Information [Line Items]      
Costs and Expenses (51,041) (57,964) (63,977)
Operating Segments | Southern Timber | Port / freight costs      
Segment Reporting Information [Line Items]      
Costs and Expenses (2,883) (4,893) (7,034)
Operating Segments | Pacific Northwest Timber      
Segment Reporting Information [Line Items]      
Sales 108,019 133,276 174,487
Depreciation, depletion and amortization 31,668 36,924 48,024
Non-Cash Cost of Land and Improved Development 0 0 0
Other costs and expenses (35,569) (39,725) (41,437)
OPERATING INCOME 6,296 8,668 (16,258)
Depreciation, depletion and amortization from continuing operations 31,668 36,924 48,024
Add: Non-cash cost of land and improved development 0 0 0
Add: Timber write-offs resulting from casualty events     729
Gain on sale of large disposition of timberlands     0
Reportable segment adjusted EBITDA 25,372 28,256 65,011
Operating Segments | Pacific Northwest Timber | Large Dispositions | Large Disposition Of Timberlands      
Segment Reporting Information [Line Items]      
OPERATING INCOME 0 0 0
Operating Segments | Pacific Northwest Timber | Cut & haul costs      
Segment Reporting Information [Line Items]      
Costs and Expenses (42,001) (56,565) (62,731)
Operating Segments | Pacific Northwest Timber | Port / freight costs      
Segment Reporting Information [Line Items]      
Costs and Expenses (5,077) (8,730) (6,037)
Operating Segments | Real Estate      
Segment Reporting Information [Line Items]      
Sales 628,268 389,963 138,008
Depreciation, depletion and amortization 162,941 109,085 22,216
Non-Cash Cost of Land and Improved Development (78,962) (73,458) (32,934)
Other costs and expenses (51,243) (50,815) (24,363)
OPERATING INCOME (335,122) (156,605) (58,495)
Depreciation, depletion and amortization from continuing operations 6,986 17,955 13,886
Add: Non-cash cost of land and improved development (41,368) (29,768) (28,374)
Add: Timber write-offs resulting from casualty events     0
Gain on sale of large disposition of timberlands     (11,480)
Reportable segment adjusted EBITDA 92,398 99,250 72,669
Operating Segments | Real Estate | Large Dispositions | Large Disposition Of Timberlands      
Segment Reporting Information [Line Items]      
OPERATING INCOME (291,078) (105,078) (16,606)
Operating Segments | Real Estate | Cut & haul costs      
Segment Reporting Information [Line Items]      
Costs and Expenses 0 0 0
Operating Segments | Real Estate | Port / freight costs      
Segment Reporting Information [Line Items]      
Costs and Expenses 0 0 0
Corporate and other      
Segment Reporting Information [Line Items]      
Add: Timber write-offs resulting from casualty events     (729)
Reportable segment adjusted EBITDA (38,843) (37,864) (34,729)
Corporate and other | Large Dispositions | Large Disposition Of Timberlands      
Segment Reporting Information [Line Items]      
OPERATING INCOME (291,078) (105,078) (16,606)
Corporate And Reconciling Items      
Segment Reporting Information [Line Items]      
Restructuring charges (1,139)    
Reconciliation of reportable segment results to consolidated income before taxes      
Interest, net and miscellaneous income (25,544) (43,367) (30,537)
Non-operating income $ 1,275 $ 18,278 $ (448)