XML 36 R21.htm IDEA: XBRL DOCUMENT v3.3.1.900
Transactions With Related Parties
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
Transactions With Related Parties
Transactions With Related Parties
 
Louisiana Timber Procurement Company, L.L.C. (LTP) is an unconsolidated variable-interest entity that is 50% owned by us and 50% owned by PCA. LTP procures sawtimber, pulpwood, residual chips, and other residual wood fiber to meet the wood and fiber requirements of us and PCA in Louisiana. We are not the primary beneficiary of LTP, as we do not have power to direct the activities that most significantly affect the economic performance of LTP. Accordingly, we do not consolidate LTP's results in our financial statements.
 
Sales
 
Related-party sales to LTP from our Wood Products segment in our Consolidated Statements of Operations were $20.7 million, $28.7 million, and $22.1 million, respectively, during the years ended December 31, 2015, 2014, and 2013. These sales are recorded in "Sales" in our Consolidated Statements of Operations.
 
Costs and Expenses
 
Related-party wood fiber purchases from LTP were $88.8 million, $75.8 million, and $67.5 million, respectively, during the years ended December 31, 2015, 2014, and 2013. These costs are recorded in "Materials, labor, and other operating expenses (excluding depreciation)" in our Consolidated Statements of Operations.

Equity

On July 30, 2013, we repurchased 3,864,062 shares of our common stock from BC Holdings for $100.0 million funded with cash on hand.