XML 36 R16.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Sale of Manufacturing Facilities | 12 Months Ended
--- | ---
Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Sale of Manufacturing Facilities | Sale of Manufacturing Facilities Assets Held For Sale In December 2018, we committed to sell a hardwood plywood facility located in Moncure, North Carolina (the Moncure Sale), and subsequently entered into a definitive sale agreement in January 2019. This facility generated net sales and operating loss of approximately $32.7 million and $7.0 million, respectively, during the year ended December 31, 2018, and net sales and operating loss of approximately $28.2 million and $9.8 million, respectively, during the year ended December 31, 2017. These results are included in the operating results of our Wood Products segment. We expect to receive proceeds of approximately $3.5 million upon closing. The disposal group met the criteria to be classified as held for sale in December 2018 and are recorded as assets held for sale in "Prepaid expenses and other" on our Consolidated Balance Sheets. Upon classification of held for sale, we discontinued depreciation of the long-lived assets, and performed an assessment of impairment to identify and expense any excess of carrying value over fair value less costs to sell. As a result, we recorded pre-tax impairment and sale related losses of $24.0 million during the year ended December 31, 2018, recorded in "Loss on sale and curtailment of facilities" in our Consolidated Statements of Operations. The losses include impairment write-downs of property and equipment, spare parts inventory, and other assets, as well as $0.3 million of goodwill allocated to the disposal group. The value of assets held for sale was based on current market conditions and the expected proceeds from the sale of the assets (Level 2 inputs). The losses also include severance-related expenses of $0.3 million. Sale of Assets On September 10, 2018, we entered into an agreement to sell two lumber mills and a particleboard plant located in Northeast Oregon (the Sale). These facilities generated net sales and operating loss of approximately $74.1 million and $0.2 million, respectively, for the year ended December 31, 2018, and net sales and operating income of approximately $82.5 million and $0.9 million, respectively, for the year ended December 31, 2017. These results are included in the operating results of our Wood Products segment. On November 2, 2018, we closed on the Sale and received proceeds of $15.0 million. As a result, we recorded a pre-tax loss of $11.5 million during the year ended December 31, 2018, recorded in "Loss on sale and curtailment of facilities" in our Consolidated Statements of Operations. The loss includes the impairment of property and equipment and related spare parts inventory, as well as $1.0 million of goodwill allocated to the disposal group. The loss also includes severance-related expenses of $0.5 million.

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration