XML 54 R38.htm IDEA: XBRL DOCUMENT v3.22.0.1

Equity-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share Based Compensation [Abstract]

Details of Equity-Based Compensation Expense and Related Income Tax Benefit

The following table details our compensation expense and the related income tax benefit for the years ended December 31:

(in thousands)		2021				2020				2019
Employee equity-based compensation expense:
Performance stock awards		$	5,381			$	5,083			$	4,605
Restricted stock units			3,041				2,904				2,595
Deferred compensation stock equivalent units expense			185				76				72
Total equity-based compensation expense		$	8,607			$	8,063			$	7,272
Total tax benefit recognized for shared-based payment awards		$	428			$	357			$	314

Fair Value of Performance Share Awards

The following table presents the key inputs used in calculating the fair value of the PSAs and the resulting fair values:

		Year Ended December 31,
		2021				2020				2019
Stock price as of valuation date		$	53.53			$	42.16			$	35.01
Risk-free rate			0.18	%			1.42	%			2.47	%
Expected volatility			45.56	%			25.74	%			25.15	%
Expected dividend yield1			—				—				—
Expected term (years)			3.00				3.00				3.00
Fair value of a performance share		$	69.72			$	45.04			$	37.87

1 Full dividend reinvestment assumed.

Summary of Outstanding Performance Share Awards

he following table summarizes outstanding PSAs as of December 31 and the changes during each year:

		2021								2020								2019
(in thousands, except per share amounts)		Shares				Weighted Average Grant Date Fair Value				Shares				Weighted Average Grant Date Fair Value				Shares				Weighted Average Grant Date Fair Value
Nonvested shares outstanding at January 1			253,266			$	41.36				196,007			$	50.15				142,238			$	63.91
Granted			88,128			$	69.72				125,001			$	45.04				142,066			$	37.87
Vested			(129,666	)		$	37.87				(63,456	)		$	75.37				(75,048	)		$	53.85
Forfeited			(9,281	)		$	58.32				(4,286	)		$	47.07				(13,249	)		$	45.35
Nonvested shares outstanding at December 31			202,447			$	55.16				253,266			$	41.36				196,007			$	50.15
Total grant date fair value of PSA awards    vested during the year		$	4,910							$	4,783							$	4,041
Total fair value of PSA awards    vested during the year		$	12,015							$	3,968							$	3,561

Summary of Outstanding RSU Awards

The following table summarizes outstanding RSU awards as of December 31 and the changes during each year:

		2021								2020								2019
(in thousands, except per share amounts)		Shares				Weighted Average Grant Date Fair Value				Shares				Weighted Average Grant Date Fair Value				Shares				Weighted Average Grant Date Fair Value
Nonvested shares outstanding at January 1			139,492			$	37.54				127,471			$	39.83				72,020			$	47.66
Granted			66,107			$	54.52				68,263			$	38.77				104,488			$	36.80
Vested			(68,606	)		$	34.50				(52,908	)		$	44.48				(43,102	)		$	45.51
Forfeited			(4,094	)		$	49.35				(3,334	)		$	40.20				(5,935	)		$	40.26
Nonvested shares outstanding at December 31			132,899			$	47.19				139,492			$	37.54				127,471			$	39.83
Total grant date fair value of RSU awards    vested during the year		$	2,367							$	2,354							$	1,961
Total fair value of RSU awards    vested during the year		$	4,130							$	2,196							$	1,771

X

- Definition

Schedule of share based payment award performance shares valuation assumptions.

+ References

No definition available.

+ Details

Name:	pch_ScheduleOfShareBasedPaymentAwardPerformanceSharesValuationAssumptionsTableTextBlock
Namespace Prefix:	pch_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ShareBasedCompensationAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration