XML 21 R13.htm IDEA: XBRL DOCUMENT
v3.23.1

Certain Balance Sheet Components | 3 Months Ended
--- | ---
Mar. 31, 2023
Balance Sheet Related Disclosures [Abstract] |
Certain Balance Sheet Components | NOTE 4. CERTAIN BALANCE SHEET COMPONENTS Inventories
(in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Logs |  | $ | 24,428 |  |  | $ | 30,586 |
Lumber, panels and veneer |  |  | 38,526 |  |  |  | 35,888 |
Materials and supplies |  |  | 23,013 |  |  |  | 21,262 |
Total inventories |  |  | 85,967 |  |  |  | 87,736 |
Less: LIFO reserve |  |  | (19,778 | ) |  |  | (19,778 | )
Total inventories, net |  | $ | 66,189 |  |  | $ | 67,958 |
Property, plant and equipment
(in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Property, plant and equipment |  | $ | 594,574 |  |  | $ | 588,935 |
Less: accumulated depreciation |  |  | (281,783 | ) |  |  | (270,751 | )
Total property, plant and equipment, net |  | $ | 312,791 |  |  | $ | 318,184 |
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. The new equipment has been installed and the large log line restarted in September 2022. 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 a $2.0 million deductible, under which we filed a claim with the insurance carriers. Through December 31, 2022, we received a total of $50.0 million from the insurance carriers for both property damage and business interruption proceeds at the Ola sawmill. No insurance proceeds were received for the claim during the three months ended March 31, 2023. We are in the process of finalizing our insurance claim and expect to receive the remaining insurance proceeds in 2023. Insurance recoveries are recorded when deemed probable and reasonably estimable. Timber and timberlands
(in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Timber and timberlands |  | $ | 2,397,681 |  |  | $ | 2,416,134 |
Logging roads |  |  | 91,275 |  |  |  | 92,238 |
Total timber and timberlands, net |  | $ | 2,488,956 |  |  | $ | 2,508,372 |
Accounts payable and accrued liabilities
(in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Accrued payroll and benefits |  | $ | 15,920 |  |  | $ | 29,051 |
Accounts payable |  |  | 11,510 |  |  |  | 12,241 |
Deferred revenue 1 |  |  | 8,606 |  |  |  | 10,860 |
Accrued interest |  |  | 6,603 |  |  |  | 7,778 |
Accrued taxes |  |  | 8,629 |  |  |  | 7,161 |
Other current liabilities |  |  | 27,000 |  |  |  | 27,770 |
Total accounts payable and accrued liabilities |  | $ | 78,268 |  |  | $ | 94,861 |
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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI https://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