XML 21 R13.htm IDEA: XBRL DOCUMENT
v3.22.2

Certain Balance Sheet Components | 6 Months Ended
--- | ---
Jun. 30, 2022
Balance Sheet Related Disclosures [Abstract] |
Certain Balance Sheet Components | NO TE 4. CERTAIN BALANCE SHEET COMPONENTS Inventories
(in thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Logs |  | $ | 25,613 |  |  | $ | 41,199 |
Lumber, panels and veneer |  |  | 40,207 |  |  |  | 34,528 |
Materials and supplies |  |  | 19,565 |  |  |  | 17,780 |
Total inventories |  |  | 85,385 |  |  |  | 93,507 |
Less: LIFO reserve |  |  | (21,138 | ) |  |  | (21,138 | )
Total inventories, net |  | $ | 64,247 |  |  | $ | 72,369 |
Property, plant and equipment
(in thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Property, plant and equipment |  | $ | 569,447 |  |  | $ | 532,324 |
Less: accumulated depreciation |  |  | (254,607 | ) |  |  | (240,004 | )
Total property, plant and equipment, net |  | $ | 314,840 |  |  | $ | 292,320 |
Ola, Arkansas sawmill fire On June 13, 2021, a fire occurred at our Ola, Arkansas sawmill. There were no injuries or environmental issues from the fire. The damage was principally limited to the large log primary breakdown area of the mill. The planer mill, kiln, and shipping department were not affected. We have adequate property damage and business interruption insurance and expect to be reimbursed for both property damage and business interruption losses by our insurance carriers, subject to an applicable deductible, under which we filed a claim with the insurance carriers. Insurance recoveries are recorded when deemed probable and reasonably estimable. Damaged and obsolete fixed asset write-offs, disposal costs, insurance recoveries for the Ola, Arkansas sawmill fire and gain on fire damage consists of the following:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Fixed asset write-offs |  | $ | — |  |  | $ | 2,108 |  |  | $ | — |  |  | $ | 2,108 |
Disposal costs |  |  | 132 |  |  |  | — |  |  |  | 836 |  |  |  | — |
Total fixed asset loss on disposal |  |  | 132 |  |  |  | 2,108 |  |  |  | 836 |  |  |  | 2,108 |
Insurance recoveries |  |  | (10,000 | ) |  |  | (2,108 | ) |  |  | (10,000 | ) |  |  | (2,108 | )
Gain on fire damage at Ola |  |  | (9,868 | ) |  |  | — |  |  |  | (9,164 | ) |  |  | — |
Insurance recoveries on timberlands fire damage |  |  | — |  |  |  | — |  |  |  | (428 | ) |  |  | — |
Gain on fire damage |  | $ | (9,868 | ) |  | $ | — |  |  | $ | (9,592 | ) |  | $ | — |
Timber and timberlands
(in thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Timber and timberlands |  | $ | 1,619,559 |  |  | $ | 1,597,011 |
Logging roads |  |  | 84,697 |  |  |  | 85,660 |
Total timber and timberlands, net |  | $ | 1,704,256 |  |  | $ | 1,682,671 |
During the six months ended June 30, 2022, we were the successful bidder for three bolt-on timberland transactions, aggregating approximately $101 million, covering approximately 46,000 acres in Mississippi and Arkansas. Accounts payable and accrued liabilities
(in thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Income taxes payable |  | $ | 23,361 |  |  | $ | 1,134 |
Accrued payroll and benefits |  |  | 23,717 |  |  |  | 28,944 |
Accounts payable |  |  | 13,898 |  |  |  | 12,749 |
Deferred revenue 1 |  |  | 13,328 |  |  |  | 8,392 |
Other accrued taxes |  |  | 7,187 |  |  |  | 5,714 |
Accrued interest |  |  | 5,965 |  |  |  | 6,046 |
Other current liabilities |  |  | 22,728 |  |  |  | 15,230 |
Total accounts payable and accrued liabilities |  | $ | 110,184 |  |  | $ | 78,209 |
1 | Deferred revenue predominately relates to hunting and other access rights on our timberlands, payments received for lumber shipments where control of goods has 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.

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

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration