REVENUE (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by Product

The following table presents our timber sales disaggregated by contract type for the three months ended March 31, 2018 and 2017:

Three Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Trading		Total
March 31, 2018
Stumpage Pay-as-Cut		$22,511	—		—		—			$22,511
Stumpage Lump Sum	1,818		5,106		—		—		6,924
Stumpage Agreed Volume	—		—		—		—		—
Total Stumpage	24,329		5,106		—		—		29,435
Delivered Wood (Domestic)	13,377		25,381		20,103		937		59,798
Delivered Wood (Export)	434		—		30,486		38,146		69,066
Total Delivered	13,811		25,381		50,589		39,083		128,864
Total Timber Sales		$38,140		$30,487		$50,589		$39,083		$158,299
March 31, 2017
Stumpage Pay-as-Cut		$20,102	—		—		—			$20,102
Stumpage Lump Sum	2,797		2,580		—		—		5,377
Stumpage Agreed Volume	—		1,180		—		—		1,180
Total Stumpage	22,899		3,760		—		—		26,659
Delivered Wood (Domestic)	9,816		21,032		18,845		1,007		50,700
Delivered Wood (Export)	—		—		21,895		32,970		54,865
Total Delivered	9,816		21,032		40,740		33,977		105,565
Total Timber Sales		$32,715		$24,792		$40,740		$33,977		$132,224

The following table presents our revenue from contracts with customers disaggregated by product type for the three months ended March 31, 2018 and 2017:

Three Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Real Estate		Trading		Elim.			Total
March 31, 2018
Pulpwood		$21,606		$3,419		$5,844	—			$4,257	—				$35,126
Sawtimber	15,937		27,068		44,745		—		34,826		—			122,576
Hardwood	597		—		—		—		—		—			597
Total Timber Sales	38,140		30,487		50,589		—		39,083		—			158,299
License Revenue, Primarily From Hunting	4,084		25		52		—		—		—			4,161
Other Non-Timber/Carbon Revenue	1,195		805		2,323		—		—		—			4,323
Agency Fee Income	—		—		—		—		123		—			123
Total Non-Timber Sales	5,279		830		2,375		—		123		—			8,607
Improved Development	—		—		—		1,121		—		—			1,121
Unimproved Development	—		—		—		7,446		—		—			7,446
Rural	—		—		—		1,652		—		—			1,652
Non-strategic / Timberlands	—		—		—		25,845		—		—			25,845
Large Dispositions	—		—		—		—		—		—			—
Total Real Estate Sales	—		—		—		36,064		—		—			36,064
Revenue from Contracts with Customers	43,419		31,317		52,964		36,064		39,206		—			202,970
Other Non-Timber Sales, Primarily Lease	169		57		—		—		—		—			226
Intersegment	—		—		—		—		6		(6		)	—
Total Revenue		$43,588		$31,374		$52,964		$36,064		$39,212		($6	)		$203,196
March 31, 2017
Pulpwood		$18,976		$3,359		$5,161	—			$2,837	—				$30,333
Sawtimber	13,023		21,433		35,579		—		31,140		—			101,175
Hardwood	716		—		—		—		—		—			716
Total Timber Sales	32,715		24,792		40,740		—		33,977		—			132,224
License Revenue, Primarily from Hunting	3,830		97		46		—		—		—			3,973
Other Non-Timber Revenue	2,390		946		88		—		—		—			3,424
Agency Fee Income	—		—		—		—		288		—			288
Total Non-Timber Sales	6,220		1,043		134		—		288		—			7,685
Improved Development	—		—		—		—		—		—			—
Unimproved Development	—		—		—		—		—		—			—
Rural	—		—		—		6,739		—		—			6,739
Non-strategic / Timberlands	—		—		—		5,599		—		—			5,599
Large Dispositions	—		—		—		41,951		—		—			41,951
Total Real Estate Sales	—		—		—		54,289		—		—				$54,289
Revenue from Contracts with Customers	38,935		25,835		40,874		54,289		34,265		—			194,198
Other Non-Timber Sales, Primarily Lease	203		90		—		—		—		—			293
Total Revenue		$39,138		$25,925		$40,874		$54,289		$34,265	—				$194,491

Revenue Performance Obligation, Expected Timing of Satisfaction

The following table summarizes revenue recognition and general payment terms for timber sales:

Contract Type	Performance Obligation	Timing of Revenue Recognition	General Payment Terms
Stumpage Pay-as-Cut	Right to harvest a unit (i.e. ton, MBF, JAS m3) of standing timber	As timber is severed (point-in-time)	Initial payment between 5% and 20% of estimated contract value; collection generally within 10 days of severance
Stumpage Lump Sum	Right to harvest an agreed upon volume of standing timber	Contract execution (point-in-time)	Full payment due upon contract execution
Stumpage Agreed Volume	Right to harvest an agreed upon acreage of standing timber	As timber is severed (over-time)	Payments made throughout contract term at the earlier of a specified harvest percentage or time elapsed
Delivered Wood (Domestic)	Delivery of a unit (i.e. ton, MBF, JAS m3) of timber to customer’s facility	Upon delivery to customer’s facility  (point-in-time)	No initial payment and on open credit terms; collection generally within 30 days of invoice
Delivered Wood (Export)	Delivery of a unit (i.e. ton, MBF, JAS m3) onto export vessel	Upon delivery onto export vessel  (point-in-time)	Letter of credit from an approved bank; collection generally within 30 days of delivery