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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Summary of Information by Business Segment |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timberlands |  | $ | 66,881 |  |  | $ | 92,511 |  |  | $ | 135,039 |  |  | $ | 169,017 |
Wood Products |  |  | 138,030 |  |  |  | 193,585 |  |  |  | 270,336 |  |  |  | 333,400 |
Real Estate |  |  | 36,432 |  |  |  | 16,431 |  |  |  | 42,596 |  |  |  | 26,986 |
|  |  | 241,343 |  |  |  | 302,527 |  |  |  | 447,971 |  |  |  | 529,403 |
Intersegment Timberlands revenues1 |  |  | (25,762 | ) |  |  | (34,294 | ) |  |  | (50,674 | ) |  |  | (61,273 | )
Consolidated revenues |  | $ | 215,581 |  |  | $ | 268,233 |  |  | $ | 397,297 |  |  | $ | 468,130 |
Adjusted EBITDDA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timberlands |  | $ | 26,131 |  |  | $ | 43,691 |  |  | $ | 52,981 |  |  | $ | 81,388 |
Wood Products |  |  | (2,071 | ) |  |  | 51,566 |  |  |  | 5,155 |  |  |  | 80,516 |
Real Estate |  |  | 31,316 |  |  |  | 12,300 |  |  |  | 34,019 |  |  |  | 20,302 |
Corporate |  |  | (9,346 | ) |  |  | (11,264 | ) |  |  | (20,000 | ) |  |  | (19,980 | )
Eliminations and adjustments |  |  | 3,050 |  |  |  | (2,085 | ) |  |  | 5,177 |  |  |  | (3,286 | )
Total Adjusted EBITDDA |  |  | 49,080 |  |  |  | 94,208 |  |  |  | 77,332 |  |  |  | 158,940 |
Basis of real estate sold |  |  | (7,427 | ) |  |  | (2,820 | ) |  |  | (8,983 | ) |  |  | (6,425 | )
Depreciation, depletion and amortization |  |  | (16,727 | ) |  |  | (20,950 | ) |  |  | (32,524 | ) |  |  | (33,146 | )
Interest expense, net2 |  |  | (7,882 | ) |  |  | (9,356 | ) |  |  | (13,346 | ) |  |  | (15,016 | )
Loss on extinguishment of debt |  |  | — |  |  |  | — |  |  |  | (5,512 | ) |  |  | — |
Non-operating pension and other postretirement employee benefits |  |  | (889 | ) |  |  | (1,908 | ) |  |  | (1,869 | ) |  |  | (3,765 | )
Gain (loss) on fixed assets |  |  | 30 |  |  |  | (3 | ) |  |  | 62 |  |  |  | 1 |
Gain on sale of facility |  |  | — |  |  |  | — |  |  |  | 9,176 |  |  |  | — |
Inventory purchase price adjustment in cost of goods sold3 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,849 | )
Deltic merger-related costs4 |  |  | — |  |  |  | (1,018 | ) |  |  | — |  |  |  | (20,273 | )
Income before income taxes |  | $ | 16,185 |  |  | $ | 58,153 |  |  | $ | 24,336 |  |  | $ | 78,467 |
Depreciation, depletion and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timberlands |  | $ | 10,469 |  |  | $ | 14,598 |  |  | $ | 20,734 |  |  | $ | 23,244 |
Wood Products |  |  | 5,861 |  |  |  | 6,069 |  |  |  | 10,903 |  |  |  | 9,423 |
Real Estate |  |  | 147 |  |  |  | 77 |  |  |  | 356 |  |  |  | 117 |
Corporate |  |  | 250 |  |  |  | 206 |  |  |  | 531 |  |  |  | 362 |
|  |  | 16,727 |  |  |  | 20,950 |  |  |  | 32,524 |  |  |  | 33,146 |
Bond discounts and deferred loan fees2 |  |  | 410 |  |  |  | 655 |  |  |  | 887 |  |  |  | 1,094 |
Total depreciation, depletion and amortization |  | $ | 17,137 |  |  | $ | 21,605 |  |  | $ | 33,411 |  |  | $ | 34,240 |
Basis of real estate sold: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate |  | $ | 7,455 |  |  | $ | 2,896 |  |  | $ | 9,043 |  |  | $ | 6,619 |
Eliminations and adjustments |  |  | (28 | ) |  |  | (76 | ) |  |  | (60 | ) |  |  | (194 | )
Total basis of real estate sold |  | $ | 7,427 |  |  | $ | 2,820 |  |  | $ | 8,983 |  |  | $ | 6,425 |
1 | Intersegment revenues represent logs sold by our Timberlands segment to our Wood Products segment.
2 | Bond discounts and deferred loan fees are reported within interest expense, net on the Condensed Consolidated Statements of Income.
3 | The effect on cost of goods sold for fair value adjustments to the carrying amounts of inventory acquired in the Deltic merger.
4 | For integration and restructuring costs related to the merger with Deltic see Note 3: Merger with Deltic.
Reconciliation of Business Segment Total Assets to Total Assets | A reconciliation of our business segment total assets to total assets in the Condensed Consolidated Balance Sheets is as follows:
(in thousands) |  | June 30, 2019 |  |  | December 31, 2018 |
Total assets: |  |  |  |  |  |  |  |
Timberlands1 |  | $ | 1,680,766 |  |  | $ | 1,693,162 |
Wood Products |  |  | 379,370 |  |  |  | 456,306 |
Real Estate2 |  |  | 93,519 |  |  |  | 93,208 |
|  |  | 2,153,655 |  |  |  | 2,242,676 |
Corporate |  |  | 105,286 |  |  |  | 83,176 |
Total consolidated assets |  | $ | 2,258,941 |  |  | $ | 2,325,852 |
1 | We do not report rural real estate separate from Timberlands as we do not report these assets separately to management.
2 | Real Estate assets primarily consist of real estate development acquired with the Deltic merger.

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