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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
Pay-Versus-Performance
As discussed in our
Compensation Discussion and Analysis
, our executive compensation program is designed to reflect a strong focus on
pay-for-performance
to drive superior financial results and value creation and strongly align our executives’ interests with those of our shareholders. The following table and accompanying disclosures report “compensation actually paid” (“CAP”) to our CEO and the average of such pay to our other NEOs (“Other NEOs”), along with other specified financial performance measures. The amounts shown for CAP are calculated in accordance with SEC rules and do not reflect the actual amount of compensation earned by or paid to our NEOs.
Pay-Versus-Performance
Table
 
 
 
   
 
     
 
     
 
     
 
   
Value of Initial Fixed $100
Investment Based on:
     
 
     
 
 
Year
 
Summary
Compensation
Table Total
for CEO
 (1)
($)
   
Compensation
Actually
Paid
to CEO 
(2)
($)
   
Average
Summary
Compensation
Table Total for
Other NEOs 
(3)
($)
   
Average
Compensation
Actually Paid
to Other
NEOs 
(4)
($)
   
Total
Shareholder
Return 
(5)
($)
   
Peer Group
Total
Shareholder
Return 
(6)
($)
   
Net Income 
(7)
(in millions)
($)
   
1-Year Relative

Total
Shareholder
Return 
(8)
(Percentile
Rank)
 
2022
 
 
12,969,306
 
 
 
6,616,958
 
 
 
3,660,540
 
 
 
2,012,724
 
 
 
    114.30
 
 
 
    114.65
 
 
 
        1,880
 
 
 
          53.5
th
 
                 
2021
 
 
12,715,531
 
 
 
17,032,291
 
 
 
4,028,448
 
 
 
4,621,469
 
 
 
143.50
 
 
 
141.81
 
 
 
2,607
 
 
 
46.3
rd
 
                 
2020
 
 
11,159,069
 
 
 
12,495,593
 
 
 
4,102,792
 
 
 
4,057,420
 
 
 
113.07
 
 
 
121.07
 
 
 
797
 
 
 
32.1
st
 
 
(1)
Represents total compensation reported for our CEO, Mr. Stockfish, as set forth in the
Total
column of the Summary Compensation Table for the applicable year.
 
(2)
Represents CAP For Mr. Stockfish, as calculated in accordance with SEC rules. The following table
sho
ws the adjustments made to CEO total c
om
pensation in arriving at CAP for the applicable year.
 
Year
 
Reported Summary
Compensation
Table Total for CEO
($)
 
 
Reported Grant
Date Fair Value of
Equity Awards 
(a)
($)
 
 
Equity Award
Adjustments 
(b)
($)
 
 
Reported Change in
the Actuarial
Present Value of
Pension Benefits 
(c)
($)
 
 
Pension Benefit
Adjustments 
(d)
($)
 
 
Compensation
Actually Paid to
CEO
($)
 
2022
 
 
            12,969,306
 
 
 
          (8,765,081)
 
 
 
2,153,628
 
 
 
                              0
 
 
 
            259,105
 
 
 
    6,616,958
 
             
2021
 
 
12,715,531
 
 
 
(7,857,107)
 
 
 
    12,240,850
 
 
 
(326,224)
 
 
 
259,241
 
 
 
17,032,291
 
             
2020
 
 
11,159,069
 
 
 
(6,942,865)
 
 
 
8,671,282
 
 
 
(581,691)
 
 
 
189,798
 
 
 
12,495,593
 
 
 
(a)
Represents amounts reported in the Stock Awards column in the Summary Compensation Table for the applicable year.
 
 
(b)
Equity award adjustments for each applicable year include the addition or subtraction of the following: (i) the
year-end
fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the change in fair value as of the end of the applicable year (from the end of the prior fiscal year) of awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards granted in prior years that vested during the applicable year, the amount equal to the change in fair value as of the vesting date (from the end of the prior fiscal year); and (iv) for awards granted in prior years that were forfeited or otherwise determined to fail to meet vesting conditions during the applicable year, a deduction equal to the fair value of such awards at the end of the prior fiscal year. The dollar value of dividend equivalent units accrued on unvested equity awards during the applicable year is reflected in the fair value of such awards. There were no equity awards that were granted and vested in the same year for any applicable year, and we generally do not grant such awards. The valuation assumptions used to calculate fair values did not differ materially from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments for the CEO are set forth in the following table:
 
Year
 
Year-End Fair Value

of Outstanding and
Unvested Equity
Awards Granted
During the Year
($)
 
 
Year-Over-Year Change

in Fair Value of
Outstanding and
Unvested Equity
Awards Granted in
Previous Years
($)
 
 
Year-Over-Year Change

in Fair Value of Equity
Awards Granted in Prior
Years that Vested
During the Year
($)
 
 
Prior Year-End Fair

Value of Equity
Awards Forfeited
During the Year
($)
 
 
Total Equity
Award
Adjustments
($)
 
           
2022
 
 
6,470,132
 
 
 
(4,294,677)
 
 
 
(21,827)
 
 
 
 
 
 
2,153,628
 
           
2021
 
 
10,006,950
 
 
 
2,141,378
 
 
 
92,523
 
 
 
 
 
 
12,240,850
 
           
2020
 
 
7,674,441
 
 
 
1,111,101
 
 
 
(114,259)
 
 
 
 
 
 
8,671,282
 
 
 
(c)
R
epresents amounts reported in the Change in Pension Value and Non-Qualified Deferred Compensation Earnings column of the Summary Compensation Table for each applicable year
.
 
 
(d)
Pension benefit adjustments for each applicable year represent the actuarially determined service cost for services rendered during the applicable year calculated in accordance with U.S. GAAP. There were no plan amendments or initiations during the applicable year and thus no applicable cost of benefits for services rendered in periods prior to a plan amendment or initiation.
(3)
Represents the average of the amounts of total compensation reported for our named executive officers as a group (excluding Mr. Stockfish) (“Other NEOs”) as set forth in the Total column of the Summary Compensation Table for the applicable year. Our Other NEOs for each year presented were as follows: for 2020, Russell S. Hagen, Adrian M. Blocker, James A. Kilberg and Keith J. O’Rear; for 2021, Nancy S. Loewe, Russell S. Hagen, Kristy T. Harlan and Keith J. O’Rear; and for 2022, Nancy S. Loewe, David M. Wold, Russell S. Hagen, Travis A. Keatley and Keith J. O’Rear.
 
(4)
Represents the average amount of CAP for our Other NEOs as a group as calculated in accordance with SEC rules. The following table shows the adjustments made to the average total compensation of our Other NEOs in arriving at CAP for the applicable year:
 
Year
 
Average Reported
Summary
Compensation
Table Total for
Other NEOs
($)
 
 
Average Reported
Value of Equity
Awards
($)
 
 
Average Equity
Award Adjustments 
(a)
($)
 
 
Average Reported
Change in the
Actuarial Present
Value of Pension
Benefits
($)
 
 
Average Pension
Benefit
Adjustments 
(b)
($)
 
 
Average
Compensation
Actually Paid to
Other NEOs
($)
 
2022
 
 
3,660,540
 
 
 
(1,801,157)
 
 
 
95,212
 
 
 
(8,647)
 
 
 
66,776
 
 
 
2,012,724
 
             
2021
 
 
4,028,448
 
 
 
(1,860,787)
 
 
 
2,790,414
 
 
 
(367,558)
 
 
 
30,953
 
 
 
4,621,469
 
             
2020
 
 
        4,102,792
 
 
 
        (1,817,211)
 
 
 
                2,378,401
 
 
 
            (680,555)
 
 
 
                73,993
 
 
 
      4,057,420
 
 
 
(a)
Equity award adjustments made in computing the total average adjustments for the Other NEOs employ the same methodology used in making equity award adjustments for the CEO. The amounts deducted or added in calculating the total average equity awards adjustments for the Other NEOs are as follows:
 
Year
 
Year End Fair Value
of Current Year
Awards Outstanding
as of Year End
($)
 
 
Average Change
in Fair Value of
Equity Awards
Granted in Prior
Years Outstanding
and Unvested at
Year End
($)
 
 
Average Change in
Fair Value as of
Vesting Date of
Equity Awards
Granted in Prior
Years that Vested
During the Year
($)
 
 
Average Fair Value
as of Prior Year
End of Equity
Awards that
Failed to Meet
Vesting Conditions
During the Year
($)
 
 
Total Equity
Award
Adjustments
($)
 
           
2022
 
 
1,050,009
 
 
 
(516,427)
 
 
 
(20,629)
 
 
 
(417,741)
 
 
 
95,212
 
           
2021
 
 
2,378,529
 
 
 
386,926
 
 
 
24,959
 
 
 
 
 
 
2,790,414
 
           
2020
 
 
        2,018,467
 
 
 
        414,516
 
 
 
            (54,583)
 
 
 
                        —
 
 
 
2,378,401
 
 
 
(b)
The average pension benefit adjustments for each applicable year represent the actuarially determined service cost for services rendered during the applicable year calculated in accordance with U.S. GAAP. There were no plan amendments or initiations during the applicable year and thus no applicable cost of benefits for services rendered in periods prior to a plan amendment or initiation.
 
(5)
Represents cumulative TSR of the company for the applicable year.
 
(6)
Represents cumulative TSR of the S&P Global Timber and Forestry Index for the applicable year.
 
(7)
Represents net income as reported in the company’s audited financial statements for the applicable year.
 
(8)
Represents the company’s percentile ranking for the applicable year based on its
1-year
TSR relative to that of a comparator group of industry peers used in our PSU awards. The industry peer group for the applicable year corresponds to the composition of the peer group for the same PSU plan year. The Compensation Committee has identified
1-Year
Relative TSR as the “Company Selected Measure”. While the committee does not view this measure as the single most important financial measure of performance used in the company’s executive compensation program, we are required by SEC disclosure rules to select one such measure and identify it in the
Pay-Versus-Performance
Table as the Company Selected Measure. The committee chose this measure because relative TSR is the basis for the performance goal in the PSU plan, in which all NEOs participate. In the PSU plan, relative TSR is measured over a three-year period; however, pursuant to SEC guidance, we are required to disclose relative TSR for each fiscal year (a 1-year period) in the Pay versus Performance table above. Other important measures, such as Adjusted EBITDA and RONA, are used in different combinations in our short-term incentive plan performance goals among the NEOs.
   
Company Selected Measure Name 1-Year Relative TSR    
Named Executive Officers, Footnote [Text Block] Represents the average of the amounts of total compensation reported for our named executive officers as a group (excluding Mr. Stockfish) (“Other NEOs”) as set forth in the Total column of the Summary Compensation Table for the applicable year. Our Other NEOs for each year presented were as follows: for 2020, Russell S. Hagen, Adrian M. Blocker, James A. Kilberg and Keith J. O’Rear; for 2021, Nancy S. Loewe, Russell S. Hagen, Kristy T. Harlan and Keith J. O’Rear; and for 2022, Nancy S. Loewe, David M. Wold, Russell S. Hagen, Travis A. Keatley and Keith J. O’Rear.    
Peer Group Issuers, Footnote [Text Block] Represents cumulative TSR of the S&P Global Timber and Forestry Index for the applicable year.    
PEO Total Compensation Amount $ 12,969,306 $ 12,715,531 $ 11,159,069
PEO Actually Paid Compensation Amount $ 6,616,958 17,032,291 12,495,593
Adjustment To PEO Compensation, Footnote [Text Block]
(2)
Represents CAP For Mr. Stockfish, as calculated in accordance with SEC rules. The following table
sho
ws the adjustments made to CEO total c
om
pensation in arriving at CAP for the applicable year.
 
Year
 
Reported Summary
Compensation
Table Total for CEO
($)
 
 
Reported Grant
Date Fair Value of
Equity Awards 
(a)
($)
 
 
Equity Award
Adjustments 
(b)
($)
 
 
Reported Change in
the Actuarial
Present Value of
Pension Benefits 
(c)
($)
 
 
Pension Benefit
Adjustments 
(d)
($)
 
 
Compensation
Actually Paid to
CEO
($)
 
2022
 
 
            12,969,306
 
 
 
          (8,765,081)
 
 
 
2,153,628
 
 
 
                              0
 
 
 
            259,105
 
 
 
    6,616,958
 
             
2021
 
 
12,715,531
 
 
 
(7,857,107)
 
 
 
    12,240,850
 
 
 
(326,224)
 
 
 
259,241
 
 
 
17,032,291
 
             
2020
 
 
11,159,069
 
 
 
(6,942,865)
 
 
 
8,671,282
 
 
 
(581,691)
 
 
 
189,798
 
 
 
12,495,593
 
 
 
(a)
Represents amounts reported in the Stock Awards column in the Summary Compensation Table for the applicable year.
 
 
(b)
Equity award adjustments for each applicable year include the addition or subtraction of the following: (i) the
year-end
fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the change in fair value as of the end of the applicable year (from the end of the prior fiscal year) of awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards granted in prior years that vested during the applicable year, the amount equal to the change in fair value as of the vesting date (from the end of the prior fiscal year); and (iv) for awards granted in prior years that were forfeited or otherwise determined to fail to meet vesting conditions during the applicable year, a deduction equal to the fair value of such awards at the end of the prior fiscal year. The dollar value of dividend equivalent units accrued on unvested equity awards during the applicable year is reflected in the fair value of such awards. There were no equity awards that were granted and vested in the same year for any applicable year, and we generally do not grant such awards. The valuation assumptions used to calculate fair values did not differ materially from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments for the CEO are set forth in the following table:
 
Year
 
Year-End Fair Value

of Outstanding and
Unvested Equity
Awards Granted
During the Year
($)
 
 
Year-Over-Year Change

in Fair Value of
Outstanding and
Unvested Equity
Awards Granted in
Previous Years
($)
 
 
Year-Over-Year Change

in Fair Value of Equity
Awards Granted in Prior
Years that Vested
During the Year
($)
 
 
Prior Year-End Fair

Value of Equity
Awards Forfeited
During the Year
($)
 
 
Total Equity
Award
Adjustments
($)
 
           
2022
 
 
6,470,132
 
 
 
(4,294,677)
 
 
 
(21,827)
 
 
 
 
 
 
2,153,628
 
           
2021
 
 
10,006,950
 
 
 
2,141,378
 
 
 
92,523
 
 
 
 
 
 
12,240,850
 
           
2020
 
 
7,674,441
 
 
 
1,111,101
 
 
 
(114,259)
 
 
 
 
 
 
8,671,282
 
 
 
(c)
R
epresents amounts reported in the Change in Pension Value and Non-Qualified Deferred Compensation Earnings column of the Summary Compensation Table for each applicable year
.
 
 
(d)
Pension benefit adjustments for each applicable year represent the actuarially determined service cost for services rendered during the applicable year calculated in accordance with U.S. GAAP. There were no plan amendments or initiations during the applicable year and thus no applicable cost of benefits for services rendered in periods prior to a plan amendment or initiation.
   
Non-PEO NEO Average Total Compensation Amount $ 3,660,540 4,028,448 4,102,792
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,012,724 4,621,469 4,057,420
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
(4)
Represents the average amount of CAP for our Other NEOs as a group as calculated in accordance with SEC rules. The following table shows the adjustments made to the average total compensation of our Other NEOs in arriving at CAP for the applicable year:
 
Year
 
Average Reported
Summary
Compensation
Table Total for
Other NEOs
($)
 
 
Average Reported
Value of Equity
Awards
($)
 
 
Average Equity
Award Adjustments 
(a)
($)
 
 
Average Reported
Change in the
Actuarial Present
Value of Pension
Benefits
($)
 
 
Average Pension
Benefit
Adjustments 
(b)
($)
 
 
Average
Compensation
Actually Paid to
Other NEOs
($)
 
2022
 
 
3,660,540
 
 
 
(1,801,157)
 
 
 
95,212
 
 
 
(8,647)
 
 
 
66,776
 
 
 
2,012,724
 
             
2021
 
 
4,028,448
 
 
 
(1,860,787)
 
 
 
2,790,414
 
 
 
(367,558)
 
 
 
30,953
 
 
 
4,621,469
 
             
2020
 
 
        4,102,792
 
 
 
        (1,817,211)
 
 
 
                2,378,401
 
 
 
            (680,555)
 
 
 
                73,993
 
 
 
      4,057,420
 
 
 
(a)
Equity award adjustments made in computing the total average adjustments for the Other NEOs employ the same methodology used in making equity award adjustments for the CEO. The amounts deducted or added in calculating the total average equity awards adjustments for the Other NEOs are as follows:
 
Year
 
Year End Fair Value
of Current Year
Awards Outstanding
as of Year End
($)
 
 
Average Change
in Fair Value of
Equity Awards
Granted in Prior
Years Outstanding
and Unvested at
Year End
($)
 
 
Average Change in
Fair Value as of
Vesting Date of
Equity Awards
Granted in Prior
Years that Vested
During the Year
($)
 
 
Average Fair Value
as of Prior Year
End of Equity
Awards that
Failed to Meet
Vesting Conditions
During the Year
($)
 
 
Total Equity
Award
Adjustments
($)
 
           
2022
 
 
1,050,009
 
 
 
(516,427)
 
 
 
(20,629)
 
 
 
(417,741)
 
 
 
95,212
 
           
2021
 
 
2,378,529
 
 
 
386,926
 
 
 
24,959
 
 
 
 
 
 
2,790,414
 
           
2020
 
 
        2,018,467
 
 
 
        414,516
 
 
 
            (54,583)
 
 
 
                        —
 
 
 
2,378,401
 
 
 
(b)
The average pension benefit adjustments for each applicable year represent the actuarially determined service cost for services rendered during the applicable year calculated in accordance with U.S. GAAP. There were no plan amendments or initiations during the applicable year and thus no applicable cost of benefits for services rendered in periods prior to a plan amendment or initiation.
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]    
Compensation Actually Paid vs. Net Income [Text Block]    
Compensation Actually Paid vs. Company Selected Measure [Text Block]    
Total Shareholder Return Vs Peer Group [Text Block]    
Tabular List [Table Text Block]
Most Important Performance Measures
 
Adjusted EBITDA
 
Relative Total Shareholder Return
 
Return on Net Assets (RONA)
   
Total Shareholder Return Amount $ 114.3 143.5 113.07
Peer Group Total Shareholder Return Amount 114.65 141.81 121.07
Net Income (Loss) $ 1,880,000,000 $ 2,607,000,000 $ 797,000,000
Company Selected Measure Amount 53.5 46.3 32.1
PEO Name Mr. Stockfish    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted EBITDA    
Non-GAAP Measure Description [Text Block] Represents the company’s percentile ranking for the applicable year based on its
1-year
TSR relative to that of a comparator group of industry peers used in our PSU awards. The industry peer group for the applicable year corresponds to the composition of the peer group for the same PSU plan year. The Compensation Committee has identified
1-Year
Relative TSR as the “Company Selected Measure”. While the committee does not view this measure as the single most important financial measure of performance used in the company’s executive compensation program, we are required by SEC disclosure rules to select one such measure and identify it in the
Pay-Versus-Performance
Table as the Company Selected Measure. The committee chose this measure because relative TSR is the basis for the performance goal in the PSU plan, in which all NEOs participate. In the PSU plan, relative TSR is measured over a three-year period; however, pursuant to SEC guidance, we are required to disclose relative TSR for each fiscal year (a 1-year period) in the Pay versus Performance table above. Other important measures, such as Adjusted EBITDA and RONA, are used in different combinations in our short-term incentive plan performance goals among the NEOs.
   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Relative Total Shareholder Return    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Return on Net Assets (RONA)    
PEO [Member] | Total Equity Awards Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 2,153,628 $ 12,240,850 $ 8,671,282
PEO [Member] | Change in The Actuarial Present Value Of Pension Benefits [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 (326,224) (581,691)
PEO [Member] | Pension Benefit Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 259,105 259,241 189,798
PEO [Member] | Reported Grant Date Fair Value Of Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (8,765,081) (7,857,107) (6,942,865)
PEO [Member] | Year End Fair Value of Outstanding and Unvested Equity Awards Granted During the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 6,470,132 10,006,950 7,674,441
PEO [Member] | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Previous Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (4,294,677) 2,141,378 1,111,101
PEO [Member] | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested During the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (21,827) 92,523 (114,259)
PEO [Member] | Prior Year End Fair Value of Equity Awards Forfeited During the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 0
Non-PEO NEO [Member] | Total Equity Awards Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 95,212 2,790,414 2,378,401
Non-PEO NEO [Member] | Change in The Actuarial Present Value Of Pension Benefits [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (8,647) (367,558) (680,555)
Non-PEO NEO [Member] | Pension Benefit Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 66,776 30,953 73,993
Non-PEO NEO [Member] | Year End Fair Value OF Current Year Awards Outstanding [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,050,009 2,378,529 2,018,467
Non-PEO NEO [Member] | Change In Fair Value OF Awards Granted in Prior Years Outstanding And Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (516,427) 386,926 414,516
Non-PEO NEO [Member] | Change In Fair Value As Of Vesting Date Of Equity Awards Granted In Prior Years That Vested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (20,629) 24,959 (54,583)
Non-PEO NEO [Member] | Reported Grant Date Fair Value Of Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,801,157) (1,860,787) (1,817,211)
Non-PEO NEO [Member] | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (417,741) $ 0 $ 0