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REVENUE RECOGNITION (Tables) | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue by Major Products | A reconciliation of revenue recognized by our major products:
|  | QUARTER ENDED |  |  | YEAR-TO-DATE ENDED |
DOLLAR AMOUNTS IN MILLIONS |  | JUNE 2025 |  |  | JUNE 2024 |  |  | JUNE 2025 |  |  | JUNE 2024 |
Net sales to unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |
Timberlands segment |  |  |  |  |  |  |  |  |  |  |  |
Delivered logs: |  |  |  |  |  |  |  |  |  |  |  |
West |  |  |  |  |  |  |  |  |  |  |  |
Domestic sales |  | $ | 102 |  |  | $ | 97 |  |  | $ | 200 |  |  | $ | 191 |
Export grade sales |  |  | 67 |  |  |  | 108 |  |  |  | 138 |  |  |  | 190 |
Subtotal West |  |  | 169 |  |  |  | 205 |  |  |  | 338 |  |  |  | 381 |
South |  |  | 154 |  |  |  | 153 |  |  |  | 306 |  |  |  | 304 |
North |  |  | 8 |  |  |  | 9 |  |  |  | 22 |  |  |  | 22 |
Subtotal delivered logs sales |  |  | 331 |  |  |  | 367 |  |  |  | 666 |  |  |  | 707 |
Stumpage and pay-as-cut timber |  |  | 13 |  |  |  | 13 |  |  |  | 23 |  |  |  | 24 |
Recreational and other lease revenue |  |  | 19 |  |  |  | 19 |  |  |  | 38 |  |  |  | 38 |
Other(1) |  |  | 10 |  |  |  | 10 |  |  |  | 28 |  |  |  | 27 |
Net sales attributable to Timberlands segment |  |  | 373 |  |  |  | 409 |  |  |  | 755 |  |  |  | 796 |
Real Estate & ENR segment |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  |  | 123 |  |  |  | 78 |  |  |  | 192 |  |  |  | 161 |
Energy and natural resources |  |  | 31 |  |  |  | 31 |  |  |  | 56 |  |  |  | 55 |
Net sales attributable to Real Estate & ENR segment |  |  | 154 |  |  |  | 109 |  |  |  | 248 |  |  |  | 216 |
Wood Products segment |  |  |  |  |  |  |  |  |  |  |  |
Structural lumber |  |  | 581 |  |  |  | 499 |  |  |  | 1,108 |  |  |  | 963 |
Oriented strand board |  |  | 205 |  |  |  | 288 |  |  |  | 433 |  |  |  | 543 |
Engineered solid section |  |  | 169 |  |  |  | 191 |  |  |  | 330 |  |  |  | 368 |
Engineered I-joists |  |  | 95 |  |  |  | 107 |  |  |  | 183 |  |  |  | 206 |
Softwood plywood |  |  | 41 |  |  |  | 42 |  |  |  | 81 |  |  |  | 83 |
Medium density fiberboard |  |  | 36 |  |  |  | 42 |  |  |  | 68 |  |  |  | 81 |
Complementary building products |  |  | 155 |  |  |  | 176 |  |  |  | 280 |  |  |  | 317 |
Other(2) |  |  | 75 |  |  |  | 76 |  |  |  | 161 |  |  |  | 162 |
Net sales attributable to Wood Products segment |  |  | 1,357 |  |  |  | 1,421 |  |  |  | 2,644 |  |  |  | 2,723 |
Total net sales |  | $ | 1,884 |  |  | $ | 1,939 |  |  | $ | 3,647 |  |  | $ | 3,735 |
(1) Other Timberlands sales include sales of seeds and seedlings from our nursery operations as well as wood chips. (2) Other Wood Products sales include wood chips, other byproducts and third-party residual log sales from our Canadian Forestlands operations.

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