Certain Balance Sheet Components (Tables)
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9 Months Ended |
Sep. 30, 2022 |
Balance Sheet Related Disclosures [Abstract] |
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Schedule of Inventories |
Inventories
|
|
|
|
|
|
|
|
|
(in thousands) |
|
September 30, 2022 |
|
|
December 31, 2021 |
|
Logs |
|
$ |
25,179 |
|
|
$ |
41,199 |
|
Lumber, panels and veneer |
|
|
37,893 |
|
|
|
34,528 |
|
Materials and supplies |
|
|
20,650 |
|
|
|
17,780 |
|
Total inventories |
|
|
83,722 |
|
|
|
93,507 |
|
Less: LIFO reserve |
|
|
(21,138 |
) |
|
|
(21,138 |
) |
Total inventories, net |
|
$ |
62,584 |
|
|
$ |
72,369 |
|
|
Schedule of Property, Plant and Equipment |
Property, plant and equipment
|
|
|
|
|
|
|
|
|
(in thousands) |
|
September 30, 2022 |
|
|
December 31, 2021 |
|
Property, plant and equipment |
|
$ |
583,747 |
|
|
$ |
532,324 |
|
Less: accumulated depreciation |
|
|
(264,515 |
) |
|
|
(240,004 |
) |
Total property, plant and equipment, net |
|
$ |
319,232 |
|
|
$ |
292,320 |
|
|
Schedule of Damaged and obsolete Fixed Asset Write-Offs, Disposal Costs, Insurance Recoveries for Ola, Arkansas Sawmill Fire and Gain on Fire Damage |
Damaged and obsolete fixed asset write-offs, disposal costs and insurance recoveries for the Ola, Arkansas sawmill fire and gain on fire damage consists of the following:
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Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Fixed asset write-offs |
|
$ |
— |
|
|
$ |
7,436 |
|
|
$ |
— |
|
|
$ |
9,544 |
|
Disposal costs |
|
|
87 |
|
|
|
1,062 |
|
|
|
924 |
|
|
|
1,062 |
|
Total fixed asset loss on disposal |
|
|
87 |
|
|
|
8,498 |
|
|
|
924 |
|
|
|
10,606 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance recoveries |
|
|
(25,000 |
) |
|
|
(12,892 |
) |
|
|
(35,000 |
) |
|
|
(15,000 |
) |
Gain on fire damage at Ola |
|
|
(24,913 |
) |
|
|
(4,394 |
) |
|
|
(34,076 |
) |
|
|
(4,394 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance recoveries on timberlands fire damage |
|
|
— |
|
|
|
— |
|
|
|
(429 |
) |
|
|
— |
|
Gain on fire damage |
|
$ |
(24,913 |
) |
|
$ |
(4,394 |
) |
|
$ |
(34,505 |
) |
|
$ |
(4,394 |
) |
|
Schedule of Timber and Timberlands |
Timber and timberlands
|
|
|
|
|
|
|
|
|
(in thousands) |
|
September 30, 2022 |
|
|
December 31, 2021 |
|
Timber and timberlands |
|
$ |
2,428,840 |
|
|
$ |
1,597,011 |
|
Logging roads |
|
|
91,665 |
|
|
|
85,660 |
|
Total timber and timberlands, net |
|
$ |
2,520,505 |
|
|
$ |
1,682,671 |
|
|
Schedule of Accounts Payable and Accrued Liabilities |
Accounts payable and accrued liabilities
|
|
|
|
|
|
|
|
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(in thousands) |
|
September 30, 2022 |
|
|
December 31, 2021 |
|
Income taxes payable |
|
$ |
9,457 |
|
|
$ |
1,134 |
|
Accrued payroll and benefits |
|
|
30,812 |
|
|
|
28,944 |
|
Accounts payable |
|
|
15,898 |
|
|
|
12,749 |
|
Deferred revenue1 |
|
|
13,201 |
|
|
|
8,392 |
|
Other accrued taxes |
|
|
9,793 |
|
|
|
5,714 |
|
Accrued interest |
|
|
5,274 |
|
|
|
6,046 |
|
Other current liabilities |
|
|
27,172 |
|
|
|
15,230 |
|
Total accounts payable and accrued liabilities |
|
$ |
111,607 |
|
|
$ |
78,209 |
|
|
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1 |
Deferred revenue predominately relates to hunting and other access rights on our timberlands, payments received for lumber shipments where control of goods has not transferred, member-related activities at an owned country club and certain post-close obligations for real estate sales. These contract liabilities are recognized over the term of the contracts, which is typically twelve months or less, except for country club initiation fees which are recognized over the average life of club membership. |
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