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Certain Balance Sheet Components | 6 Months Ended
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Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract] |
Certain Balance Sheet Components | NO TE 4. CERTAIN BALANCE SHEET COMPONENTS Inventories
(in thousands) |  | June 30, 2023 |  |  | December 31, 2022 |
Logs |  | $ | 30,294 |  |  | $ | 30,586 |
Lumber, panels and veneer |  |  | 37,270 |  |  |  | 35,888 |
Materials and supplies |  |  | 22,877 |  |  |  | 21,262 |
Total inventories |  |  | 90,441 |  |  |  | 87,736 |
Less: LIFO reserve |  |  | (19,778 | ) |  |  | (19,778 | )
Total inventories, net |  | $ | 70,663 |  |  | $ | 67,958 |
Property, plant and equipment
(in thousands) |  | June 30, 2023 |  |  | December 31, 2022 |
Property, plant and equipment |  | $ | 597,517 |  |  | $ | 588,935 |
Less: accumulated depreciation |  |  | (290,539 | ) |  |  | (270,751 | )
Total property, plant and equipment, net |  | $ | 306,978 |  |  | $ | 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 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. During the three and six months ended June 30, 2023, we recorded insurance recoveries of $23.1 million from the Ola sawmill claim, all of which was recognized as a gain on fire damage in the Condensed Consolidated Statements of Operations. During the three and six months ended June 30, 2022, we recorded $9.9 million and $9.2 million, respectively as gain on fire damage at the Ola sawmill. Through June 30, 2023, the insurance carriers have approved a total of $73.1 million in insurance recoveries for both property damage and business interruption claims at the Ola sawmill. W e expect to finalize our insurance claim for the Ola, Arkansas sawmill fire during the second half of 2023. Insurance recoveries are recorded when deemed probable and reasonably estimable. Timber and timberlands
(in thousands) |  | June 30, 2023 |  |  | December 31, 2022 |
Timber and timberlands |  | $ | 2,385,167 |  |  | $ | 2,416,134 |
Logging roads |  |  | 90,887 |  |  |  | 92,238 |
Total timber and timberlands, net |  | $ | 2,476,054 |  |  | $ | 2,508,372 |
Accounts payable and accrued liabilities
(in thousands) |  | June 30, 2023 |  |  | December 31, 2022 |
Accrued payroll and benefits |  | $ | 19,369 |  |  | $ | 29,051 |
Accounts payable |  |  | 17,138 |  |  |  | 12,241 |
Deferred revenue 1 |  |  | 16,519 |  |  |  | 10,860 |
Accrued taxes |  |  | 8,336 |  |  |  | 7,161 |
Accrued interest |  |  | 8,254 |  |  |  | 7,778 |
Other current liabilities |  |  | 26,477 |  |  |  | 27,770 |
Total accounts payable and accrued liabilities |  | $ | 96,093 |  |  | $ | 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 any 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.

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- 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 -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
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