Level 3 Acquisitions (Tables)

9 Months Ended

Sep. 30, 2013

Fair value at the date of the Acquisition [Table Text Block]

The following table summarizes the allocations of the purchase price to the assets acquired and liabilities assumed, based on our current estimates of the fair value at the date of the Acquisition (dollars in thousands):



	Acquisition Date Fair Value

Accounts receivable	$	7,735
Inventories	6,934
Prepaid expenses and other	22
Property and equipment	84,988
Timber deposits	164
Intangible assets:
Customer relationships	1,400
Goodwill	8,307
Assets acquired	109,550

Accounts payable and accrued liabilities	7,534
Other long-term liabilities	14
Liabilities assumed	7,548

Net assets acquired	$	102,002

Pro Forma Financial Information [Table Text Block]

The following pro forma financial information presents the combined results of operations as if the Wood Resources LLC Southeast Operations had been combined with us on January 1, 2012. The pro forma financial information also gives effect to the issuance of $50 million in aggregate principal amount of our 6.375% senior notes due November 1, 2020 (Senior Notes) on August 15, 2013, and the $25.0 million borrowed under our revolving credit facility to partially finance the Acquisition, as if such transactions had occurred on January 1, 2012. The pro forma results are intended for information purposes only and do not purport to represent what the combined companies' results of operations would actually have been had the related transactions in fact occurred on January 1, 2012. They also do not reflect any cost savings, operating synergies, or revenue enhancements that we may achieve or the costs necessary to achieve those cost savings, operating synergies, revenue enhancements, or integration efforts.



	Pro Forma
	Three Months Ended September 30				Nine Months Ended September 30
	2013		2012		2013		2012
	(unaudited, thousands)
Sales	$	911,481	$	795,924	$	2,581,828	$	2,178,986
Net income (a)(b)	17,639		24,493		114,254		43,432

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(a)	The pro forma financial information for three and nine months ended September 30, 2013 was adjusted to exclude $0.5 million of acquisition-related costs for legal, accounting, and other advisory-related services and $0.9 million of secondary offering expenses.


(b)	The nine months ended September 30, 2013 includes a $68.7 million income tax benefit associated with the recording of net deferred tax assets upon our conversion to a corporation in connection with our initial public offering.