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Certain Balance Sheet Components | 9 Months Ended
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Sep. 30, 2024
Balance Sheet Related Disclosures [Abstract] |
Certain Balance Sheet Components | NO TE 4. CERTAIN BALANCE SHEET COMPONENTS Inventories
(in thousands) |  | September 30, 2024 |  |  | December 31, 2023 |
Logs |  | $ | 34,745 |  |  | $ | 39,011 |
Lumber, panels and veneer |  |  | 35,547 |  |  |  | 34,621 |
Materials and supplies |  |  | 28,282 |  |  |  | 23,713 |
Total inventories |  |  | 98,574 |  |  |  | 97,345 |
Less: LIFO reserve |  |  | (18,680 | ) |  |  | (18,680 | )
Total inventories, net |  | $ | 79,894 |  |  | $ | 78,665 |
Property, plant and equipment
(in thousands) |  | September 30, 2024 |  |  | December 31, 2023 |
Property, plant and equipment |  | $ | 692,163 |  |  | $ | 681,914 |
Less: accumulated depreciation |  |  | (296,255 | ) |  |  | (309,082 | )
Total property, plant and equipment, net |  | $ | 395,908 |  |  | $ | 372,832 |
Timber and timberlands
(in thousands) |  | September 30, 2024 |  |  | December 31, 2023 |
Timber and timberlands |  | $ | 2,281,659 |  |  | $ | 2,347,300 |
Logging roads |  |  | 93,498 |  |  |  | 93,098 |
Total timber and timberlands, net |  | $ | 2,375,157 |  |  | $ | 2,440,398 |
On June 17, 2024, we completed the sale of 34,100 acres of four-year average age Southern timberlands to Forest Investment Associates (FIA) for $56.7 million. Additionally, in January 2024, we acquired 16,000 acres of mature timberlands in Arkansas for $31.4 million, including transaction costs. We funded the acquisition with cash on hand. Accounts payable and accrued liabilities
(in thousands) |  | September 30, 2024 |  |  | December 31, 2023 |
Accrued payroll and benefits |  | $ | 20,770 |  |  | $ | 24,473 |
Accounts payable |  |  | 18,527 |  |  |  | 12,521 |
Deferred revenue 1 |  |  | 14,084 |  |  |  | 10,455 |
Accrued interest |  |  | 6,625 |  |  |  | 8,344 |
Accrued taxes |  |  | 6,375 |  |  |  | 5,712 |
Other current liabilities |  |  | 23,909 |  |  |  | 20,878 |
Total accounts payable and accrued liabilities |  | $ | 90,290 |  |  | $ | 82,383 |
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 respective contract, 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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