TIMBERLAND ACQUISITIONS AND DIVESTITURES	9 Months Ended
Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
TIMBERLAND ACQUISITIONS AND DIVESTITURES	NOTE 15: TIMBERLAND ACQUISITIONS AND DIVESTITURES Oregon Acquisition and Divestiture On September 1, 2020, we announced an agreement to sell 149,000 acres of southern Oregon timberlands for $385 million and a separate agreement to purchase 85,000 acres of mid-coastal Oregon timberlands for $426 million. These transactions within our Timberlands business segment will be structured as a like-kind exchange for tax purposes. The two agreements are subject to customary closing conditions and are both expected to close in fourth quarter 2020. The sale of southern Oregon timberlands is not considered a strategic shift that has, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. However, the related assets have met the relevant criteria to be classified as held for sale in the current period Consolidated Balance Sheet. This classification does not affect the presentation in the Consolidated Statement of Operations. The held for sale classification did change the presentation of the related assets from long-term to current on our Consolidated Balance Sheet. As of September 30, 2020, “Assets held for sale” had a balance of $199 million, which consisted primarily of timberlands and other related assets. Montana Divestiture On December 17, 2019, we announced an agreement to sell 630,000 acres of Montana timberlands, which was part of our Timberlands business segment. On March 26, 2020, we completed the sale for $145 million in cash proceeds, which is net of purchase price adjustments and closing costs. Due to the impairment recorded during fourth quarter 2019, no material gain or loss was recorded as a result of this sale. The divestiture was not considered a strategic shift that had or will have a major effect on our operations or financial results and therefore did not meet the requirements for presentation as discontinued operations.

TIMBERLAND ACQUISITIONS AND DIVESTITURES

9 Months Ended

Sep. 30, 2020

Discontinued Operations And Disposal Groups [Abstract]

TIMBERLAND ACQUISITIONS AND DIVESTITURES

NOTE 15: TIMBERLAND ACQUISITIONS AND DIVESTITURES

Oregon Acquisition and Divestiture

On September 1, 2020, we announced an agreement to sell 149,000 acres of southern Oregon timberlands for $385 million and a separate agreement to purchase 85,000 acres of mid-coastal Oregon timberlands for $426 million. These transactions within our Timberlands business segment will be structured as a like-kind exchange for tax purposes. The two agreements are subject to customary closing conditions and are both expected to close in fourth quarter 2020.

The sale of southern Oregon timberlands is not considered a strategic shift that has, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. However, the related assets have met the relevant criteria to be classified as held for sale in the current period Consolidated Balance Sheet. This classification does not affect the presentation in the Consolidated Statement of Operations. The held for sale classification did change the presentation of the related assets from long-term to current on our Consolidated Balance Sheet. As of September 30, 2020, “Assets held for sale” had a balance of $199 million, which consisted primarily of timberlands and other related assets.

Montana Divestiture

On December 17, 2019, we announced an agreement to sell 630,000 acres of Montana timberlands, which was part of our Timberlands business segment. On March 26, 2020, we completed the sale for $145 million in cash proceeds, which is net of purchase price adjustments and closing costs. Due to the impairment recorded during fourth quarter 2019, no material gain or loss was recorded as a result of this sale.

The divestiture was not considered a strategic shift that had or will have a major effect on our operations or financial results and therefore did not meet the requirements for presentation as discontinued operations.