XML 63 R35.htm IDEA: XBRL DOCUMENT
v3.25.4

LEASES | 12 Months Ended
--- | ---
Dec. 31, 2025
Leases [Abstract] |
LEASES | LEASES TIMBERLAND LEASES Our timberland leases typically have initial terms of approximately 30 to 65 years, with renewal provisions in some cases. OTHER NON-TIMBERLAND LEASES In addition to timberland holdings, we lease properties for certain office locations. Significant leased properties include a regional office in Lufkin, Texas. LEASE MATURITIES, LEASE COST AND OTHER LEASE INFORMATION The following table details our undiscounted lease obligations as of December 31, 2025 by type of lease and year of expiration:
|  | Year of Expiration
Lease Obligations |  | Total |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | 2030 |  | Thereafter
Operating lease liabilities |  | $21,475 |  |  | $2,708 |  |  | $2,555 |  |  | $2,213 |  |  | $2,184 |  |  | $2,174 |  |  | $9,641 |
Total Undiscounted Cash Flows |  | $21,475 |  |  | $2,708 |  |  | $2,555 |  |  | $2,213 |  |  | $2,184 |  |  | $2,174 |  |  | $9,641 |
Imputed interest |  | (5,189) |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2025 |  | $16,286 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Current portion |  | (2,617) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-current portion at December 31, 2025 |  | $13,669 |  |  |  |  |  |  |  |  |  |  |  |  |
The following table details components of our lease cost for the years ended December 31, 2025, 2024, and 2023:
|  |  |  | Year Ended December 31,
Lease Cost Components |  |  |  | 2025 |  | 2024 |  | 2023
Operating lease cost |  |  |  | $3,308 |  |  | $3,627 |  |  | $4,449 |
Variable lease cost (a) |  |  |  | 383 |  |  | 395 |  |  | 533 |
Total lease cost (b) |  |  |  | $3,691 |  |  | $4,022 |  |  | $4,982 |
(a) The majority of timberland leases are subject to increases or decreases based on either the Consumer Price Index, Producer Price Index or market rates. (b) Short-term leases with an initial term of 12 months or less are not recorded on the balance sheet.Related costs are recognized on a straight line basis over the lease term. Short-term lease expense was not material for the year ended December 31, 2025. The following table provides supplemental cash flow information related to leases for the years ended December 31, 2025, 2024 and 2023:
|  |  | Year Ended December 31,
Supplemental Cash Flow Information Related to Leases: |  |  | 2025 |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases |  |  | $1,216 |  |  | $1,407 |  |  | $2,081 |
Investing cash flows from operating leases |  |  | 2,092 |  |  | 2,220 |  |  | 2,368 |
Total cash flows from operating leases |  |  | $3,308 |  |  | $3,627 |  |  | $4,449 |
Weighted-average remaining lease term in years - operating leases |  |  | 10 |  | 11 |  | 11
Weighted-average discount rate - operating leases |  |  | 6 | % |  | 6 | % |  | 6 | %
We apply the following practical expedients as allowed under ASC 842:
Practical Expedient |  | Description
Short-term leases |  | We do not record right-of-use assets or liabilities for short-term leases (a lease that at commencement date has a lease term of 12 months or less and does not contain a purchase option that is reasonably certain to be exercised).
Separation of lease and non-lease components |  | We do not separate non-lease components from the associated lease components if they have the same timing and pattern of transfer and, if accounted for separately, would both be classified as an operating lease.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration