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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Summary of Revenues by Major Product | The following table represents our revenues by major product:
|  |  |  | Three Months Ended March 31, |
(in thousands) |  |  |  | 2021 |  |  |  |  | 2020 |
Timberlands |  |  |  |  |  |  |  |  |  |  |  |
Northern region |  |  |  |  |  |  |  |  |  |  |  |
Sawlogs |  |  |  | $ | 76,181 |  |  |  |  | $ | 41,407 |
Pulpwood |  |  |  |  | 499 |  |  |  |  |  | 1,435 |
Stumpage |  |  |  |  | — |  |  |  |  |  | 316 |
Other |  |  |  |  | 300 |  |  |  |  |  | 303 |
Total Northern revenues |  |  |  |  | 76,980 |  |  |  |  |  | 43,461 |
Southern region |  |  |  |  |  |  |  |  |  |  |  |
Sawlogs |  |  |  |  | 22,416 |  |  |  |  |  | 23,939 |
Pulpwood |  |  |  |  | 9,161 |  |  |  |  |  | 11,201 |
Stumpage |  |  |  |  | 764 |  |  |  |  |  | 829 |
Other |  |  |  |  | 2,595 |  |  |  |  |  | 2,995 |
Total Southern revenues |  |  |  |  | 34,936 |  |  |  |  |  | 38,964 |
Total Timberlands revenues |  |  |  |  | 111,916 |  |  |  |  |  | 82,425 |
Wood Products |  |  |  |  |  |  |  |  |  |  |  |
Lumber |  |  |  |  | 229,682 |  |  |  |  |  | 111,939 |
Residuals and Panels |  |  |  |  | 39,614 |  |  |  |  |  | 33,061 |
Total Wood Products revenues |  |  |  |  | 269,296 |  |  |  |  |  | 145,000 |
Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Rural real estate |  |  |  |  | 10,025 |  |  |  |  |  | 7,292 |
Development real estate |  |  |  |  | 8,053 |  |  |  |  |  | 2,292 |
Other |  |  |  |  | 2,235 |  |  |  |  |  | 1,385 |
Total Real Estate revenues |  |  |  |  | 20,313 |  |  |  |  |  | 10,969 |
Total segment revenues |  |  |  |  | 401,525 |  |  |  |  |  | 238,394 |
Intersegment Timberlands revenues1 |  |  |  |  | (47,332 | ) |  |  |  |  | (29,514 | )
Total consolidated revenues |  |  |  | $ | 354,193 |  |  |  |  | $ | 208,880 |
1 | Intersegment revenues represent logs sold by our Timberlands segment to our Wood Products segment.
Summary of Information by Business Segment |
|  |  |  | Three Months Ended March 31, |
(in thousands) |  |  |  | 2021 |  |  |  |  | 2020 |
Adjusted EBITDDA: |  |  |  |  |  |  |  |  |  |  |  |
Timberlands |  |  |  | $ | 67,858 |  |  |  |  | $ | 34,982 |
Wood Products |  |  |  |  | 125,555 |  |  |  |  |  | 13,229 |
Real Estate |  |  |  |  | 16,593 |  |  |  |  |  | 7,340 |
Corporate |  |  |  |  | (10,710 | ) |  |  |  |  | (8,672 | )
Eliminations and adjustments |  |  |  |  | (4,310 | ) |  |  |  |  | 692 |
Total Adjusted EBITDDA |  |  |  |  | 194,986 |  |  |  |  |  | 47,571 |
Interest expense, net1 |  |  |  |  | (3,574 | ) |  |  |  |  | (3,698 | )
Depreciation, depletion and amortization |  |  |  |  | (17,996 | ) |  |  |  |  | (18,638 | )
Basis of real estate sold |  |  |  |  | (8,823 | ) |  |  |  |  | (6,498 | )
Pension settlement charge |  |  |  |  | — |  |  |  |  |  | (42,988 | )
Non-operating pension and other postretirement employee benefits |  |  |  |  | (3,414 | ) |  |  |  |  | (3,635 | )
(Loss) gain on disposal of fixed assets |  |  |  |  | (34 | ) |  |  |  |  | 192 |
Income (loss) before income taxes |  |  |  | $ | 161,145 |  |  |  |  | $ | (27,694 | )
Depreciation, depletion and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Timberlands |  |  |  | $ | 11,417 |  |  |  |  | $ | 12,591 |
Wood Products |  |  |  |  | 6,203 |  |  |  |  |  | 5,630 |
Real Estate |  |  |  |  | 155 |  |  |  |  |  | 160 |
Corporate |  |  |  |  | 221 |  |  |  |  |  | 257 |
|  |  |  |  | 17,996 |  |  |  |  |  | 18,638 |
Bond discounts and deferred loan fees1 |  |  |  |  | 403 |  |  |  |  |  | 406 |
Total depreciation, depletion and amortization |  |  |  | $ | 18,399 |  |  |  |  | $ | 19,044 |
Basis of real estate sold: |  |  |  |  |  |  |  |  |  |  |  |
Real Estate |  |  |  | $ | 8,829 |  |  |  |  | $ | 6,504 |
Eliminations and adjustments |  |  |  |  | (6 | ) |  |  |  |  | (6 | )
Total basis of real estate sold |  |  |  | $ | 8,823 |  |  |  |  | $ | 6,498 |
1 | Bond discounts and deferred loan fees are reported within interest expense, net on the Condensed Consolidated Statements of Operations.

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