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REVENUE (Tables) | 9 Months Ended
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Sep. 30, 2018
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue by Product | The following tables present our revenue from contracts with customers disaggregated by product type for the three and nine months ended September 30, 2018 and 2017:
Three Months Ended | Southern Timber |  | Pacific Northwest Timber |  | New Zealand Timber |  | Real Estate |  | Trading |  | Elim. |  | Total
September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |
Pulpwood |  | $19,998 |  |  |  | $3,560 |  |  |  | $7,278 |  |  | — |  |  |  | $2,487 |  |  | — |  |  |  | $33,323 |
Sawtimber | 13,734 |  |  | 23,495 |  |  | 56,663 |  |  | — |  |  | 28,321 |  |  | — |  |  | 122,213 |
Hardwood | 1,071 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,071 |
Total Timber Sales | 34,803 |  |  | 27,055 |  |  | 63,941 |  |  | — |  |  | 30,808 |  |  | — |  |  | 156,607 |
License Revenue, Primarily From Hunting | 4,016 |  |  | 224 |  |  | 98 |  |  | — |  |  | — |  |  | — |  |  | 4,338 |
Other Non-Timber/Carbon Revenue | 637 |  |  | 468 |  |  | 2,226 |  |  | — |  |  | — |  |  | — |  |  | 3,331 |
Agency Fee Income | — |  |  | — |  |  | — |  |  | — |  |  | 172 |  |  | — |  |  | 172 |
Total Non-Timber Sales | 4,653 |  |  | 692 |  |  | 2,324 |  |  | — |  |  | 172 |  |  | — |  |  | 7,841 |
Improved Development | — |  |  | — |  |  | — |  |  | 1,352 |  |  | — |  |  | — |  |  | 1,352 |
Unimproved Development | — |  |  | — |  |  | — |  |  | 1,175 |  |  | — |  |  | — |  |  | 1,175 |
Rural | — |  |  | — |  |  | — |  |  | 4,489 |  |  | — |  |  | — |  |  | 4,489 |
Non-strategic / Timberlands | — |  |  | — |  |  | — |  |  | 29,152 |  |  | — |  |  | — |  |  | 29,152 |
Large Dispositions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Real Estate Sales | — |  |  | — |  |  | — |  |  | 36,168 |  |  | — |  |  | — |  |  | 36,168 |
Revenue from Contracts with Customers | 39,456 |  |  | 27,747 |  |  | 66,265 |  |  | 36,168 |  |  | 30,980 |  |  | — |  |  | 200,616 |
Other Non-Timber Sales, Primarily Lease | 206 |  |  | 68 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 274 |
Intersegment | — |  |  | — |  |  | — |  |  | — |  |  | 30 |  |  | (30 | ) |  | — |
Total Revenue |  | $39,662 |  |  |  | $27,815 |  |  |  | $66,265 |  |  |  | $36,168 |  |  |  | $31,010 |  |  |  | ($30 | ) |  |  | $200,890 |
September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Pulpwood |  | $18,260 |  |  |  | $2,515 |  |  |  | $7,344 |  |  | — |  |  |  | $3,425 |  |  | — |  |  |  | $31,544 |
Sawtimber | 12,485 |  |  | 16,131 |  |  | 62,569 |  |  | — |  |  | 36,828 |  |  | — |  |  | 128,013 |
Hardwood | 1,152 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,152 |
Total Timber Sales | 31,897 |  |  | 18,646 |  |  | 69,913 |  |  | — |  |  | 40,253 |  |  | — |  |  | 160,709 |
License Revenue, Primarily from Hunting | 4,171 |  |  | 161 |  |  | 36 |  |  | — |  |  | — |  |  | — |  |  | 4,368 |
Other Non-Timber Revenue | 1,042 |  |  | 233 |  |  | 146 |  |  | — |  |  | — |  |  | — |  |  | 1,421 |
Agency Fee Income | — |  |  | — |  |  | — |  |  | — |  |  | 433 |  |  | — |  |  | 433 |
Total Non-Timber Sales | 5,213 |  |  | 394 |  |  | 182 |  |  | — |  |  | 433 |  |  | — |  |  | 6,222 |
Improved Development | — |  |  | — |  |  | — |  |  | 46 |  |  | — |  |  | — |  |  | 46 |
Unimproved Development | — |  |  | — |  |  | — |  |  | 13,905 |  |  | — |  |  | — |  |  | 13,905 |
Rural | — |  |  | — |  |  | — |  |  | 3,125 |  |  | — |  |  | — |  |  | 3,125 |
Non-strategic / Timberlands | — |  |  | — |  |  | — |  |  | 164 |  |  | — |  |  | — |  |  | 164 |
Large Dispositions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Real Estate Sales | — |  |  | — |  |  | — |  |  | 17,240 |  |  | — |  |  | — |  |  | 17,240 |
Revenue from Contracts with Customers | 37,110 |  |  | 19,040 |  |  | 70,095 |  |  | 17,240 |  |  | 40,686 |  |  | — |  |  | 184,171 |
Other Non-Timber Sales, Primarily Lease | 191 |  |  | 57 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 248 |
Total Revenue |  | $37,301 |  |  |  | $19,097 |  |  |  | $70,095 |  |  |  | $17,240 |  |  |  | $40,686 |  |  | — |  |  |  | $184,419 |
Nine Months Ended | Southern Timber |  | Pacific Northwest Timber |  | New Zealand Timber |  | Real Estate |  | Trading |  | Elim. |  | Total
September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |
Pulpwood |  | $61,898 |  |  |  | $11,648 |  |  |  | $20,910 |  |  | — |  |  |  | $10,548 |  |  | — |  |  |  | $105,004 |
Sawtimber | 45,452 |  |  | 77,172 |  |  | 162,627 |  |  | — |  |  | 105,309 |  |  | — |  |  | 390,560 |
Hardwood | 2,882 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,882 |
Total Timber Sales | 110,232 |  |  | 88,820 |  |  | 183,537 |  |  | — |  |  | 115,857 |  |  | — |  |  | 498,446 |
License Revenue, Primarily From Hunting | 12,137 |  |  | 450 |  |  | 292 |  |  | — |  |  | — |  |  | — |  |  | 12,879 |
Other Non-Timber/Carbon Revenue | 8,320 |  |  | 1,923 |  |  | 5,053 |  |  | — |  |  | — |  |  | — |  |  | 15,296 |
Agency Fee Income | — |  |  | — |  |  | — |  |  | — |  |  | 460 |  |  | — |  |  | 460 |
Total Non-Timber Sales | 20,457 |  |  | 2,373 |  |  | 5,345 |  |  | — |  |  | 460 |  |  | — |  |  | 28,635 |
Improved Development | — |  |  | — |  |  | — |  |  | 3,817 |  |  | — |  |  | — |  |  | 3,817 |
Unimproved Development | — |  |  | — |  |  | — |  |  | 8,621 |  |  | — |  |  | — |  |  | 8,621 |
Rural | — |  |  | — |  |  | — |  |  | 10,969 |  |  | — |  |  | — |  |  | 10,969 |
Non-strategic / Timberlands | — |  |  | — |  |  | — |  |  | 98,685 |  |  | — |  |  | — |  |  | 98,685 |
Large Dispositions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Real Estate Sales | — |  |  | — |  |  | — |  |  | 122,092 |  |  | — |  |  | — |  |  | 122,092 |
Revenue from Contracts with Customers | 130,689 |  |  | 91,193 |  |  | 188,882 |  |  | 122,092 |  |  | 116,317 |  |  | — |  |  | 649,173 |
Other Non-Timber Sales, Primarily Lease | 609 |  |  | 209 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 818 |
Intersegment | — |  |  | — |  |  | — |  |  | — |  |  | 66 |  |  | (66 | ) |  | — |
Total Revenue |  | $131,298 |  |  |  | $91,402 |  |  |  | $188,882 |  |  |  | $122,092 |  |  |  | $116,383 |  |  |  | ($66 | ) |  |  | $649,991 |
September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Pulpwood |  | $52,407 |  |  |  | $8,683 |  |  |  | $18,956 |  |  | — |  |  |  | $9,972 |  |  | — |  |  |  | $90,018 |
Sawtimber | 40,088 |  |  | 54,203 |  |  | 144,550 |  |  | — |  |  | 105,964 |  |  | — |  |  | 344,805 |
Hardwood | 2,895 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,895 |
Total Timber Sales | 95,390 |  |  | 62,886 |  |  | 163,506 |  |  | — |  |  | 115,936 |  |  | — |  |  | 437,718 |
License Revenue, Primarily from Hunting | 11,809 |  |  | 354 |  |  | 154 |  |  | — |  |  | — |  |  | — |  |  | 12,317 |
Other Non-Timber Revenue | 4,184 |  |  | 2,037 |  |  | 320 |  |  | — |  |  | — |  |  | — |  |  | 6,541 |
Agency Fee Income | — |  |  | — |  |  | — |  |  | — |  |  | 1,051 |  |  | — |  |  | 1,051 |
Total Non-Timber Sales | 15,993 |  |  | 2,391 |  |  | 474 |  |  | — |  |  | 1,051 |  |  | — |  |  | 19,909 |
Improved Development | — |  |  | — |  |  | — |  |  | 189 |  |  | — |  |  | — |  |  | 189 |
Unimproved Development | — |  |  | — |  |  | — |  |  | 16,405 |  |  | — |  |  | — |  |  | 16,405 |
Rural | — |  |  | — |  |  | — |  |  | 15,357 |  |  | — |  |  | — |  |  | 15,357 |
Non-strategic / Timberlands | — |  |  | — |  |  | — |  |  | 47,558 |  |  | — |  |  | — |  |  | 47,558 |
Large Dispositions | — |  |  | — |  |  | — |  |  | 41,951 |  |  | — |  |  | — |  |  | 41,951 |
Total Real Estate Sales | — |  |  | — |  |  | — |  |  | 121,460 |  |  | — |  |  | — |  |  | 121,460 |
Revenue from Contracts with Customers | 111,383 |  |  | 65,277 |  |  | 163,980 |  |  | 121,460 |  |  | 116,987 |  |  | — |  |  | 579,087 |
Other Non-Timber Sales, Primarily Lease | 584 |  |  | 203 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 787 |
Total Revenue |  | $111,967 |  |  |  | $65,480 |  |  |  | $163,980 |  |  |  | $121,460 |  |  |  | $116,987 |  |  | — |  |  |  | $579,874 |
The following tables present our timber sales disaggregated by contract type for the three and nine months ended September 30, 2018 and 2017:
Three Months Ended | Southern Timber |  | Pacific Northwest Timber |  | New Zealand Timber |  | Trading |  | Total
September 30, 2018 |  |  |  |  |  |  |  |  |
Stumpage Pay-as-Cut |  | $16,984 |  |  | — |  |  | — |  |  | — |  |  |  | $16,984 |
Stumpage Lump Sum | 284 |  |  | 2,143 |  |  | — |  |  | — |  |  | 2,427 |
Stumpage Agreed Volume | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Stumpage | 17,268 |  |  | 2,143 |  |  | — |  |  | — |  |  | 19,411 |
Delivered Wood (Domestic) | 15,856 |  |  | 24,912 |  |  | 24,771 |  |  | 1,813 |  |  | 67,352 |
Delivered Wood (Export) | 1,679 |  |  | — |  |  | 39,170 |  |  | 28,995 |  |  | 69,844 |
Total Delivered | 17,535 |  |  | 24,912 |  |  | 63,941 |  |  | 30,808 |  |  | 137,196 |
Total Timber Sales |  | $34,803 |  |  |  | $27,055 |  |  |  | $63,941 |  |  |  | $30,808 |  |  |  | $156,607 |
September 30, 2017 |  |  |  |  |  |  |  |  |
Stumpage Pay-as-Cut |  | $18,607 |  |  | — |  |  | — |  |  | — |  |  |  | $18,607 |
Stumpage Lump Sum | 1,954 |  |  | 3,987 |  |  | — |  |  | — |  |  | 5,941 |
Stumpage Agreed Volume | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Stumpage | 20,561 |  |  | 3,987 |  |  | — |  |  | — |  |  | 24,548 |
Delivered Wood (Domestic) | 11,336 |  |  | 14,659 |  |  | 24,440 |  |  | 1,808 |  |  | 52,243 |
Delivered Wood (Export) | — |  |  | — |  |  | 45,473 |  |  | 38,445 |  |  | 83,918 |
Total Delivered | 11,336 |  |  | 14,659 |  |  | 69,913 |  |  | 40,253 |  |  | 136,161 |
Total Timber Sales |  | $31,897 |  |  |  | $18,646 |  |  |  | $69,913 |  |  |  | $40,253 |  |  |  | $160,709 |
Nine Months Ended | Southern Timber |  | Pacific Northwest Timber |  | New Zealand Timber |  | Trading |  | Total
September 30, 2018 |  |  |  |  |  |  |  |  |
Stumpage Pay-as-Cut |  | $59,348 |  |  | — |  |  | — |  |  | — |  |  |  | $59,348 |
Stumpage Lump Sum | 2,358 |  |  | 11,854 |  |  | — |  |  | — |  |  | 14,212 |
Stumpage Agreed Volume | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Stumpage | 61,706 |  |  | 11,854 |  |  | — |  |  | — |  |  | 73,560 |
Delivered Wood (Domestic) | 44,399 |  |  | 76,966 |  |  | 70,521 |  |  | 4,317 |  |  | 196,203 |
Delivered Wood (Export) | 4,127 |  |  | — |  |  | 113,016 |  |  | 111,540 |  |  | 228,683 |
Total Delivered | 48,526 |  |  | 76,966 |  |  | 183,537 |  |  | 115,857 |  |  | 424,886 |
Total Timber Sales |  | $110,232 |  |  |  | $88,820 |  |  |  | $183,537 |  |  |  | $115,857 |  |  |  | $498,446 |
September 30, 2017 |  |  |  |  |  |  |  |  |
Stumpage Pay-as-Cut |  | $56,956 |  |  | — |  |  | — |  |  | — |  |  |  | $56,956 |
Stumpage Lump Sum | 6,997 |  |  | 6,574 |  |  | — |  |  | — |  |  | 13,571 |
Stumpage Agreed Volume | — |  |  | 1,234 |  |  | — |  |  | — |  |  | 1,234 |
Total Stumpage | 63,953 |  |  | 7,808 |  |  | — |  |  | — |  |  | 71,761 |
Delivered Wood (Domestic) | 31,437 |  |  | 55,078 |  |  | 63,883 |  |  | 4,132 |  |  | 154,530 |
Delivered Wood (Export) | — |  |  | — |  |  | 99,623 |  |  | 111,804 |  |  | 211,427 |
Total Delivered | 31,437 |  |  | 55,078 |  |  | 163,506 |  |  | 115,936 |  |  | 365,957 |
Total Timber Sales |  | $95,390 |  |  |  | $62,886 |  |  |  | $163,506 |  |  |  | $115,936 |  |  |  | $437,718 |
Revenue Performance Obligation, Expected Timing of Satisfaction | The following table summarizes revenue recognition and general payment terms for timber sales:
Contract Type |  | Performance Obligation |  | Timing of Revenue Recognition |  | General Payment Terms
Stumpage Pay-as-Cut |  | Right to harvest a unit (i.e. ton, MBF, JAS m3) of standing timber |  | As timber is severed (point-in-time) |  | Initial payment between 5% and 20% of estimated contract value; collection generally within 10 days of severance
Stumpage Lump Sum |  | Right to harvest an agreed upon acreage of standing timber |  | Contract execution (point-in-time) |  | Full payment due upon contract execution
Stumpage Agreed Volume |  | Right to harvest an agreed upon volume of standing timber |  | As timber is severed (over-time) |  | Payments made throughout contract term at the earlier of a specified harvest percentage or time elapsed
Delivered Wood (Domestic) |  | Delivery of a unit (i.e. ton, MBF, JAS m3) of timber to customer’s facility |  | Upon delivery to customer’s facility (point-in-time) |  | No initial payment and on open credit terms; collection generally within 30 days of invoice
Delivered Wood (Export) |  | Delivery of a unit (i.e. ton, MBF, JAS m3) onto export vessel |  | Upon delivery onto export vessel (point-in-time) |  | Letter of credit from an approved bank; collection generally within 30 days of delivery
Contract with Customer, Liabilities | The following table summarizes revenue recognized during the three and nine months ended September 30, 2018 and 2017 that was included in the contract liability balance at the beginning of each year:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Revenue recognized from contract liability balance at the beginning of the year (a) |  | $355 |  |  |  | $459 |  |  |  | $8,685 |  |  |  | $8,369 |
(a) | Revenue recognized was primarily from hunting licenses and the use of advances on pay-as-cut timber sales.

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