XML 54 R40.htm IDEA: XBRL DOCUMENT
v3.22.4

Equity-Based Compensation Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Payment Arrangement, Noncash Expense [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 company specific equity awards for the year ended December 31:
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Employee equity-based compensation expense: |  |  |  |  |  |  |  |  |
Performance stock awards |  | $ | 5,887 |  |  | $ | 5,381 |  |  | $ | 5,083 |
Restricted stock units |  |  | 3,107 |  |  |  | 3,041 |  |  |  | 2,904 |
Deferred compensation stock equivalent units expense |  |  | 196 |  |  |  | 185 |  |  |  | 76 |
Total equity-based compensation expense |  | $ | 9,190 |  |  | $ | 8,607 |  |  | $ | 8,063 |
Total tax benefit recognized for shared-based payment awards |  | $ | 457 |  |  | $ | 428 |  |  | $ | 357 |
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, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Stock price as of valuation date |  | $ | 55.02 |  |  | $ | 53.53 |  |  | $ | 42.16 |
Risk-free rate |  |  | 1.79 | % |  |  | 0.18 | % |  |  | 1.42 | %
Expected volatility |  |  | 45.69 | % |  |  | 45.56 | % |  |  | 25.74 | %
Expected dividend yield 1 |  |  | — |  |  |  | — |  |  |  | — |
Expected term (years) |  |  | 3.00 |  |  |  | 3.00 |  |  |  | 3.00 |
Fair value of a performance share |  | $ | 76.18 |  |  | $ | 69.72 |  |  | $ | 45.04 |
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:
|  | 2022 |  |  | 2021 |  |  | 2020 |
(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 |  |  | 202,447 |  |  | $ | 55.16 |  |  |  | 253,266 |  |  | $ | 41.36 |  |  |  | 196,007 |  |  | $ | 50.15 |
Granted |  |  | 92,490 |  |  | $ | 76.18 |  |  |  | 88,128 |  |  | $ | 69.72 |  |  |  | 125,001 |  |  | $ | 45.04 |
Vested |  |  | (119,066 | ) |  | $ | 45.04 |  |  |  | (129,666 | ) |  | $ | 37.87 |  |  |  | (63,456 | ) |  | $ | 75.37 |
Forfeited |  |  | (971 | ) |  | $ | 60.42 |  |  |  | (9,281 | ) |  | $ | 58.32 |  |  |  | (4,286 | ) |  | $ | 47.07 |
Nonvested shares outstanding at December 31 |  |  | 174,900 |  |  | $ | 73.14 |  |  |  | 202,447 |  |  | $ | 55.16 |  |  |  | 253,266 |  |  | $ | 41.36 |
Total grant date fair value of PSA awards vested during the year |  | $ | 5,363 |  |  |  |  |  | $ | 4,910 |  |  |  |  |  | $ | 4,783 |  |  |  |
Total fair value of PSA awards vested during the year |  | $ | 6,735 |  |  |  |  |  | $ | 12,015 |  |  |  |  |  | $ | 3,968 |  |  |  |
Summary of Outstanding RSU Awards | The following table summarizes outstanding RSU awards as of December 31 and the changes during each year:
|  | 2022 |  |  | 2021 |  |  | 2020 |
(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 |  |  | 132,899 |  |  | $ | 47.19 |  |  |  | 139,492 |  |  | $ | 37.54 |  |  |  | 127,471 |  |  | $ | 39.83 |
Granted |  |  | 59,549 |  |  | $ | 53.61 |  |  |  | 66,107 |  |  | $ | 54.52 |  |  |  | 68,263 |  |  | $ | 38.77 |
Vested |  |  | (81,002 | ) |  | $ | 43.92 |  |  |  | (68,606 | ) |  | $ | 34.50 |  |  |  | (52,908 | ) |  | $ | 44.48 |
Forfeited |  |  | (1,323 | ) |  | $ | 58.48 |  |  |  | (4,094 | ) |  | $ | 49.35 |  |  |  | (3,334 | ) |  | $ | 40.20 |
Nonvested shares outstanding at December 31 |  |  | 110,123 |  |  | $ | 52.94 |  |  |  | 132,899 |  |  | $ | 47.19 |  |  |  | 139,492 |  |  | $ | 37.54 |
Total grant date fair value of RSU awards vested during the year |  | $ | 3,557 |  |  |  |  |  | $ | 2,367 |  |  |  |  |  | $ | 2,354 |  |  |  |
Total fair value of RSU awards vested during the year |  | $ | 3,634 |  |  |  |  |  | $ | 4,130 |  |  |  |  |  | $ | 2,196 |  |  |  |

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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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