REVENUE (Tables)

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by Product

The following table presents our revenue from contracts with customers disaggregated by product type for the three and six months ended June 30, 2018 and 2017:

Three Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Real Estate		Trading		Elim.			Total
June 30, 2018
Pulpwood		$20,300		$4,625		$7,788	—			$3,804	—				$36,517
Sawtimber	15,776		26,654		61,219		—		42,162		—			145,811
Hardwood	1,214		—		—		—		—		—			1,214
Total Timber Sales	37,290		31,279		69,007		—		45,966		—			183,542
License Revenue, Primarily From Hunting	3,936		103		142		—		—		—			4,181
Other Non-Timber/Carbon Revenue	6,589		749		504		—		—		—			7,842
Agency Fee Income	—		—		—		—		167		—			167
Total Non-Timber Sales	10,525		852		646		—		167		—			12,190
Improved Development	—		—		—		1,345		—		—			1,345
Unimproved Development	—		—		—		—		—		—			—
Rural	—		—		—		4,827		—		—			4,827
Non-strategic / Timberlands	—		—		—		43,688		—		—			43,688
Large Dispositions	—		—		—		—		—		—			—
Total Real Estate Sales	—		—		—		49,860		—		—			49,860
Revenue from Contracts with Customers	47,815		32,131		69,653		49,860		46,133		—			245,592
Other Non-Timber Sales, Primarily Lease	232		82		—		—		—		—			314
Intersegment	—		—		—		—		29		(29		)	—
Total Revenue		$48,047		$32,213		$69,653		$49,860		$46,162		($29	)		$245,906
June 30, 2017
Pulpwood		$15,170		$2,803		$6,450	—			$3,711	—				$28,134
Sawtimber	14,580		16,648		46,403		—		37,996		—			115,627
Hardwood	1,027		—		—		—		—		—			1,027
Total Timber Sales	30,777		19,451		52,853		—		41,707		—			144,788
License Revenue, Primarily from Hunting	3,808		93		72		—		—		—			3,973
Other Non-Timber Revenue	753		858		86		—		—		—			1,697
Agency Fee Income	—		—		—		—		330		—			330
Total Non-Timber Sales	4,561		951		158		—		330		—			6,000
Improved Development	—		—		—		143		—		—			143
Unimproved Development	—		—		—		2,500		—		—			2,500
Rural	—		—		—		5,493		—		—			5,493
Non-strategic / Timberlands	—		—		24,311		17,484		—		—			41,795
Large Dispositions	—		—		—		—		—		—			—
Total Real Estate Sales	—		—		24,311		25,620		—		—			49,931
Revenue from Contracts with Customers	35,338		20,402		77,322		25,620		42,037		—			200,719
Other Non-Timber Sales, Primarily Lease	190		55		—		—		—		—			245
Total Revenue		$35,528		$20,457		$77,322		$25,620		$42,037	—				$200,964

Six Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Real Estate		Trading		Elim.			Total
June 30, 2018
Pulpwood		$41,904		$8,044		$13,632	—			$8,062	—				$71,642
Sawtimber	31,713		53,721		105,964		—		76,987		—			268,385
Hardwood	1,811		—		—		—		—		—			1,811
Total Timber Sales	75,428		61,765		119,596		—		85,049		—			341,838
License Revenue, Primarily From Hunting	8,024		128		194		—		—		—			8,346
Other Non-Timber/Carbon Revenue	7,781		1,554		2,827		—		—		—			12,162
Agency Fee Income	—		—		—		—		289		—			289
Total Non-Timber Sales	15,805		1,682		3,021		—		289		—			20,797
Improved Development	—		—		—		2,465		—		—			2,465
Unimproved Development	—		—		—		7,446		—		—			7,446
Rural	—		—		—		6,480		—		—			6,480
Non-strategic / Timberlands	—		—		—		69,533		—		—			69,533
Large Dispositions	—		—		—		—		—		—			—
Total Real Estate Sales	—		—		—		85,924		—		—			85,924
Revenue from Contracts with Customers	91,233		63,447		122,617		85,924		85,338		—			448,559
Other Non-Timber Sales, Primarily Lease	402		140		—		—		—		—			542
Intersegment	—		—		—		—		35		(35		)	—
Total Revenue		$91,635		$63,587		$122,617		$85,924		$85,373		($35	)		$449,101
June 30, 2017
Pulpwood		$34,146		$6,162		$11,611	—			$6,547	—				$58,466
Sawtimber	27,603		38,081		81,982		—		69,137		—			216,803
Hardwood	1,743		—		—		—		—		—			1,743
Total Timber Sales	63,492		44,243		93,593		—		75,684		—			277,012
License Revenue, Primarily from Hunting	7,638		190		119		—		—		—			7,947
Other Non-Timber Revenue	3,142		1,804		173		—		—		—			5,119
Agency Fee Income	—		—		—		—		618		—			618
Total Non-Timber Sales	10,780		1,994		292		—		618		—			13,684
Improved Development	—		—		—		143		—		—			143
Unimproved Development	—		—		—		2,500		—		—			2,500
Rural	—		—		—		12,232		—		—			12,232
Non-strategic / Timberlands	—		—		24,311		23,083		—		—			47,394
Large Dispositions	—		—		—		41,951		—		—			41,951
Total Real Estate Sales	—		—		24,311		79,909		—		—			104,220
Revenue from Contracts with Customers	74,272		46,237		118,196		79,909		76,302		—			394,916
Other Non-Timber Sales, Primarily Lease	394		145		—		—		—		—			539
Total Revenue		$74,666		$46,382		$118,196		$79,909		$76,302	—				$395,455

The following table presents our timber sales disaggregated by contract type for the three and six months ended June 30, 2018 and 2017:

Three Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Trading		Total
June 30, 2018
Stumpage Pay-as-Cut		$19,855	—		—		—			$19,855
Stumpage Lump Sum	256		4,605		—		—		4,861
Stumpage Agreed Volume	—		—		—		—		—
Total Stumpage	20,111		4,605		—		—		24,716
Delivered Wood (Domestic)	15,166		26,674		25,647		1,567		69,054
Delivered Wood (Export)	2,013		—		43,360		44,399		89,772
Total Delivered	17,179		26,674		69,007		45,966		158,826
Total Timber Sales		$37,290		$31,279		$69,007		$45,966		$183,542
June 30, 2017
Stumpage Pay-as-Cut		$18,249	—		—		—			$18,249
Stumpage Lump Sum	2,247		—		—		—		2,247
Stumpage Agreed Volume	—		54		—		—		54
Total Stumpage	20,496		54		—		—		20,550
Delivered Wood (Domestic)	10,281		19,397		20,598		1,317		51,593
Delivered Wood (Export)	—		—		32,255		40,390		72,645
Total Delivered	10,281		19,397		52,853		41,707		124,238
Total Timber Sales		$30,777		$19,451		$52,853		$41,707		$144,788

Six Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Trading		Total
June 30, 2018
Stumpage Pay-as-Cut		$42,364	—		—		—			$42,364
Stumpage Lump Sum	2,074		9,711		—		—		11,785
Stumpage Agreed Volume	—		—		—		—		—
Total Stumpage	44,438		9,711		—		—		54,149
Delivered Wood (Domestic)	28,543		52,054		45,750		2,504		128,851
Delivered Wood (Export)	2,447		—		73,846		82,545		158,838
Total Delivered	30,990		52,054		119,596		85,049		287,689
Total Timber Sales		$75,428		$61,765		$119,596		$85,049		$341,838
June 30, 2017
Stumpage Pay-as-Cut		$38,352	—		—		—			$38,352
Stumpage Lump Sum	5,043		2,580		—		—		7,623
Stumpage Agreed Volume	—		1,234		—		—		1,234
Total Stumpage	43,395		3,814		—		—		47,209
Delivered Wood (Domestic)	20,097		40,429		39,443		2,324		102,293
Delivered Wood (Export)	—		—		54,150		73,360		127,510
Total Delivered	20,097		40,429		93,593		75,684		229,803
Total Timber Sales		$63,492		$44,243		$93,593		$75,684		$277,012

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

Contract with Customer, Liabilities

The following tables summarizes revenue recognized during the three and six months ended June 30, 2018 and 2017 that was included in the contract liability balance at the beginning of each year:

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenue recognized from contract liability balance at the beginning of the year (a)		$5,429		$3,809		$11,800		$8,592

(a) Revenue recognized was primarily from hunting licenses and the use of advances on pay-as-cut timber sales.