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ASSETS HELD FOR SALE ASSETS HELD FOR SALE
9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Assets Held For Sale
ASSETS HELD FOR SALE
During the three months ended September 30, 2016, the Company entered in to three separate contracts to sell a total of 62,100 acres of timberland in Alabama and Mississippi for $119.7 million. The basis in these properties of $47.4 million is classified as assets held for sale in the Consolidated Balance Sheet as of September 30, 2016 as the properties are expected to be sold within the next 12 months and meet the other relevant held-for-sale criteria in accordance with ASC 360-10-45-9. Two of these transactions will close in October 2016, and the remaining transaction is expected to close in January 2017.
Subsequent Event
See Note 1Basis of Presentation for additional information on subsequent events.