Inventories


(in thousands)	September 30, 2021			December 31, 2020
Logs	$	34,980		$	31,210
Lumber, panels and veneer		35,716			34,136
Materials and supplies		17,415			14,939
Total inventories		88,111			80,285
Less: LIFO reserve		(18,249	)		(18,249	)
Total inventories, net	$	69,862		$	62,036

Ola Arkansas sawmill fire


(in thousands)	Three Months Ended September 30, 2021			Nine Months Ended September 30, 2021
Fixed asset write-offs	$	(7,436	)	$	(9,544	)
Disposal costs		(1,061	)		(1,061	)
Total fixed asset loss on disposal		(8,498	)		(10,606	)

Insurance recoveries		12,892			15,000
Net gain on insurance recoveries	$	4,394		$	4,394

Schedule of Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities


(in thousands)	September 30, 2021		December 31, 2020
Accrued payroll and benefits	$	26,266	$	29,675
Accounts payable		15,795		9,724
Deferred revenue1		9,806		8,789
Other accrued taxes		8,957		6,025
Income taxes payable		6,778		14,755
Accrued interest		5,040		6,485
Other current liabilities		15,177		17,826
Total accounts payable and accrued liabilities	$	87,819	$	93,279

1

Deferred revenue predominately relates to hunting and other access rights on our timberlands, payments received for lumber shipments where control of goods have not transferred, member related activities at an owned country club and certain post-close obligations for real estate sales. These contract liabilities are recognized over the term of the contracts, which is typically twelve months or less, except for country club initiation fees which are recognized over the average life of club membership.