OTHER ASSETS

12 Months Ended

Dec. 31, 2023

The following table provides the composition of Other assets for the two years ended December 31:


	2023	2022
Long-term derivative contracts (a)	$55,336	$76,216
Patronage equity (b)	8,292	7,872
Goodwill (b)	7,822	7,863
New Zealand long-term secondary roads (b)	5,995	6,971
Equity investments (c)	5,947	—
Capitalized software costs (b)	5,427	5,795
Pacific Northwest long-term prepaid roads (b)	5,354	5,857
Rabbi trusts related to the Executive Severance Pay Plan (d)	1,962	1,869
Deferred financing costs related to revolving debt (b)	604	854
Carbon credits (e)	419	1,086
Long-term prepaid stumpage	260	713
Long-term deposits	135	212
Other	2	173
Total	$97,555	$115,481

(a)See Note 1 — Summary of Significant Accounting Policies and Note 8 — Derivative Financial Instruments and Hedging Activities for further information on derivatives including their classification on the Consolidated Balance Sheets.

(b)See Note 1 — Summary of Significant Accounting Policies for additional information.

(c)Represents the cost basis in four joint venture entities by our New Zealand subsidiary, reflecting investments made for the establishment and enhancement of timber assets which the joint ventures will monetize upon maturation of the timber.

(d)The Executive Severance Pay Plan provides benefits to eligible executives in the event of a change in control of the Company.

(e)See Note 1 — Summary of Significant Accounting Policies and Note 15 — Inventory for additional information on carbon credits.

Changes in goodwill for the years ended December 31, 2023 and 2022 were:


	2023	2022
Balance, January 1 (net of $0 of accumulated impairment)	$7,863	$8,457
Changes to carrying amount


Foreign currency adjustment	(41)	(594)
Balance, December 31 (net of $0 of accumulated impairment)	$7,822	$7,863