XML 23 R15.htm IDEA: XBRL DOCUMENT
v3.23.3

Certain Balance Sheet Components | 9 Months Ended
--- | ---
Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract] |
Certain Balance Sheet Components | NO TE 4. CERTAIN BALANCE SHEET COMPONENTS Inventories
(in thousands) |  | September 30, 2023 |  |  | December 31, 2022 |
Logs |  | $ | 40,300 |  |  | $ | 30,586 |
Lumber, panels and veneer |  |  | 38,662 |  |  |  | 35,888 |
Materials and supplies |  |  | 23,353 |  |  |  | 21,262 |
Total inventories |  |  | 102,315 |  |  |  | 87,736 |
Less: LIFO reserve |  |  | (19,778 | ) |  |  | (19,778 | )
Total inventories, net |  | $ | 82,537 |  |  | $ | 67,958 |
Property, plant and equipment
(in thousands) |  | September 30, 2023 |  |  | December 31, 2022 |
Property, plant and equipment |  | $ | 634,096 |  |  | $ | 588,935 |
Less: accumulated depreciation |  |  | (299,746 | ) |  |  | (270,751 | )
Total property, plant and equipment, net |  | $ | 334,350 |  |  | $ | 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, subject to a $2.0 million deductible. Insurance recoveries are recorded when deemed probable and reasonably estimable. In September 2023, we finalized our claim with the insurance carriers resulting in $89.4 million of total insurance recoveries, net of a $2.0 million deductible, for both the property damage and business interruption claims. During the three and nine months ended September 30, 2023, we recorded insurance recoveries of $16.3 million and $39.4 million, respectively, 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 nine months ended September 30, 2022, we recorded $24.9 million and $34.1 million, respectively, as gain on fire damage. Timber and timberlands
(in thousands) |  | September 30, 2023 |  |  | December 31, 2022 |
Timber and timberlands |  | $ | 2,366,877 |  |  | $ | 2,416,134 |
Logging roads |  |  | 92,631 |  |  |  | 92,238 |
Total timber and timberlands, net |  | $ | 2,459,508 |  |  | $ | 2,508,372 |
Accounts payable and accrued liabilities
(in thousands) |  | September 30, 2023 |  |  | December 31, 2022 |
Accounts payable |  | $ | 37,845 |  |  | $ | 12,241 |
Accrued payroll and benefits |  |  | 20,006 |  |  |  | 29,051 |
Deferred revenue 1 |  |  | 14,858 |  |  |  | 10,860 |
Accrued taxes |  |  | 6,878 |  |  |  | 7,161 |
Accrued interest |  |  | 6,912 |  |  |  | 7,778 |
Other current liabilities |  |  | 28,835 |  |  |  | 27,770 |
Total accounts payable and accrued liabilities |  | $ | 115,334 |  |  | $ | 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 deferred revenues 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 -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration