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INCENTIVE STOCK PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs

A summary of our stock-based compensation cost is presented below:

			2023						2022						2021
Selling and general expenses			$12,710						$10,767						$8,255
Cost of sales			986						1,226						816
Timber and Timberlands, net (a)			306						363						206
Total stock-based compensation			$14,002						$12,356						$9,277
Tax benefit recognized related to stock-based compensation expense (b)			$677						$603						$487

(a)Represents amounts capitalized as part of the overhead allocation of timber-related costs.

(b)A valuation allowance is recorded against the tax benefit recognized as we do not expect to be able to realize the benefit in the future.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of our restricted stock units is presented below:

			2023						2022						2021
Restricted stock units granted			207,006						130,213						129,290
Weighted average price of restricted stock units granted			$32.93						$41.81						$33.59
Intrinsic value of restricted stock units outstanding (a)			$16,068						$13,826						$15,095
Grant date fair value of restricted stock units vested			4,454						2,475						493
Cash used to purchase common shares from current and former employees to pay withholding tax requirements on restricted stock units vested			1,665						1,063						189

(a)Intrinsic value of restricted stock units outstanding is based on the market price of the Company’s stock at December 31, 2023.

			2023
			Number of Shares						Weighted Average Grant Date Fair Value
Non-vested Restricted Stock Units at January 1,			419,484						$32.12
Granted			207,006						32.93
Vested			(142,949)						31.16
Cancelled			(2,616)						35.28
Non-vested Restricted Stock Units at December 31,			480,925						$32.74

A summary of our restricted stock is presented below:

			2023						2022						2021
Restricted shares granted			36,403						22,800						22,140
Weighted average price of restricted shares granted			$30.22						$38.60						$37.36
Intrinsic value of restricted stock outstanding (a)			$66						$620						$3,062
Grant date fair value of restricted stock vested			1,647						2,478						3,121
Cash used to purchase common shares from current and former employees to pay withholding tax requirements on restricted shares vested			208						708						869

(a)Intrinsic value of restricted stock outstanding is based on the market price of the Company’s stock at December 31, 2023.

			2023
			Number of Shares						Weighted Average Grant Date Fair Value
Non-vested Restricted Shares at January 1,			18,808						$31.58
Granted			36,403						30.22
Vested			(53,238)						30.93
Non-vested Restricted Shares at December 31,			1,973						$24.01

Schedule of Nonvested Performance-based Units Activity

A summary of our performance share units is presented below:

			2023						2022						2021
Common shares reserved for performance shares granted during year			285,863						193,333						191,203
Weighted average fair value of performance share units granted			$37.77						$45.68						$36.10
Intrinsic value of outstanding performance share units (a)			$12,730						$13,123						$16,360
Fair value of performance shares vested			5,863						5,549						1,738
Cash used to purchase common shares from current and former employees to pay withholding tax requirements on performance shares vested			2,342						2,454						559

(a)Intrinsic value of outstanding performance share units is based on the market price of the Company's stock at December 31, 2023.

			2023
			Number of Units						Weighted Average Grant Date Fair Value
Outstanding Performance Share units at January 1,			398,156						$35.78
Granted			163,350						37.77
Units Distributed			(179,942)						29.57
Other Cancellations/Adjustments			(530)						40.78
Outstanding Performance Share units at December 31,			381,034						$39.56

Expected volatility was estimated using daily returns on the Company’s common shares for the three-year period ending on the grant date. The risk-free rate was based on the 3-year U.S. Treasury rate on the date of the award. The dividend yield was not used to calculate fair value as awards granted receive dividend equivalents. Grants made to Vice Presidents and above are subject to a one-year post-vest holding period and include an additional discount for liquidity. The following table provides an overview of the assumptions used in calculating the fair value of the awards granted for the three years ended December 31:

			2023						2022						2021
Expected volatility			29.9		%				38.1		%				35.6		%
Risk-free rate			3.7		%				2.6		%				0.4		%
Liquidity discount applied to grants with a post-vesting holding restriction			4.7		%				4.2		%				6.3		%

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the status of our stock options as of and for the year ended December 31, 2023 is presented below:

			2023
			Number of Shares						Weighted Average Exercise Price (per common share)						Weighted Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value
Options outstanding at January 1,			54,091						$35.15
Exercised			(2,408)						31.28
Cancelled or expired			(26,959)						38.53
Options outstanding at December 31,			24,724						31.83						0.10						$44
Options exercisable at December 31,			24,724						$31.83						0.10						$44

A summary of additional information pertaining to our stock options is presented below:

			2023						2022						2021
Intrinsic value of options exercised (a)			$2						$300						$916
Cash received from exercise of options			75						2,466						5,922

(a)Intrinsic value of options exercised is the amount by which the fair value of the stock on the exercise date exceeded the exercise price of the option.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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