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TIMBERLAND ACQUISITIONS | 12 Months Ended
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Dec. 31, 2020
Property, Plant and Equipment [Abstract] |
TIMBERLAND ACQUISITIONS | TIMBERLAND ACQUISITIONS In 2020, we acquired approximately 13,000 acres of U.S. timberland located in Alabama, Georgia, and Louisiana through three transactions for an aggregate value of $24.2 million. Approximately $24.1 million of these acquisitions were acquired using like-kind exchange proceeds while the remaining $0.1 million were funded from operating cash flow. Additionally, during 2020, we acquired approximately 2,000 acres of timberland (including approximately 2,000 acres of leased land) in New Zealand for approximately $0.5 million. These acquisitions were funded from operating cash flow. In 2019, we acquired approximately 62,000 acres of U.S. timberland located in Florida, Georgia, Texas, and Washington through sixteen transactions for an aggregate value of $106.3 million. Approximately $29.8 million of these acquisitions were acquired using like-kind exchange proceeds while the remaining $76.5 million were funded from operating cash flow and the use of our revolving credit facility. Additionally, during 2019, we acquired approximately 9,000 acres of timberland (including approximately 2,000 acres of leased land) in New Zealand for approximately $36.0 million. These acquisitions were funded from operating cash flow. See Note 8 - Debt for additional information on our revolving credit facility and the New Zealand subsidiary’s working capital facility. The following table summarizes the timberland acquisitions for the years ended December 31, 2020 and 2019:
| 2020 |  | 2019
| Cost |  | Acres (a) |  | Cost |  | Acres
Alabama | $100 |  |  | 56 |  |  | — |  |  | — |
Florida | — |  |  | — |  |  | 71,183 |  |  | 42,522 |
Georgia | 18 |  |  | 20 |  |  | 13,395 |  |  | 10,271 |
Louisiana | 24,123 |  |  | 12,558 |  |  | — |  |  | — |
Texas | — |  |  | — |  |  | 14,349 |  |  | 6,643 |
Washington | — |  |  | — |  |  | 7,340 |  |  | 2,260 |
New Zealand | 454 |  |  | 2,378 |  |  | 36,020 |  |  | 9,223 |
Total Acquisitions | $24,695 |  |  | 15,012 |  |  | $142,287 |  |  | 70,919 |
(a)Excludes acres and costs related to Pope Resources, for more information on assets and liabilities acquired see Note 2 - Merger with Pope Resources.

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