REVENUE (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by Product

The following tables present our revenue from contracts with customers disaggregated by product type for the three and nine months ended September 30, 2018 and 2017:

Three Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Real Estate		Trading		Elim.			Total
September 30, 2018
Pulpwood		$19,998		$3,560		$7,278	—			$2,487	—				$33,323
Sawtimber	13,734		23,495		56,663		—		28,321		—			122,213
Hardwood	1,071		—		—		—		—		—			1,071
Total Timber Sales	34,803		27,055		63,941		—		30,808		—			156,607
License Revenue, Primarily From Hunting	4,016		224		98		—		—		—			4,338
Other Non-Timber/Carbon Revenue	637		468		2,226		—		—		—			3,331
Agency Fee Income	—		—		—		—		172		—			172
Total Non-Timber Sales	4,653		692		2,324		—		172		—			7,841
Improved Development	—		—		—		1,352		—		—			1,352
Unimproved Development	—		—		—		1,175		—		—			1,175
Rural	—		—		—		4,489		—		—			4,489
Non-strategic / Timberlands	—		—		—		29,152		—		—			29,152
Large Dispositions	—		—		—		—		—		—			—
Total Real Estate Sales	—		—		—		36,168		—		—			36,168
Revenue from Contracts with Customers	39,456		27,747		66,265		36,168		30,980		—			200,616
Other Non-Timber Sales, Primarily Lease	206		68		—		—		—		—			274
Intersegment	—		—		—		—		30		(30		)	—
Total Revenue		$39,662		$27,815		$66,265		$36,168		$31,010		($30	)		$200,890
September 30, 2017
Pulpwood		$18,260		$2,515		$7,344	—			$3,425	—				$31,544
Sawtimber	12,485		16,131		62,569		—		36,828		—			128,013
Hardwood	1,152		—		—		—		—		—			1,152
Total Timber Sales	31,897		18,646		69,913		—		40,253		—			160,709
License Revenue, Primarily from Hunting	4,171		161		36		—		—		—			4,368
Other Non-Timber Revenue	1,042		233		146		—		—		—			1,421
Agency Fee Income	—		—		—		—		433		—			433
Total Non-Timber Sales	5,213		394		182		—		433		—			6,222
Improved Development	—		—		—		46		—		—			46
Unimproved Development	—		—		—		13,905		—		—			13,905
Rural	—		—		—		3,125		—		—			3,125
Non-strategic / Timberlands	—		—		—		164		—		—			164
Large Dispositions	—		—		—		—		—		—			—
Total Real Estate Sales	—		—		—		17,240		—		—			17,240
Revenue from Contracts with Customers	37,110		19,040		70,095		17,240		40,686		—			184,171
Other Non-Timber Sales, Primarily Lease	191		57		—		—		—		—			248
Total Revenue		$37,301		$19,097		$70,095		$17,240		$40,686	—				$184,419

Nine Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Real Estate		Trading		Elim.			Total
September 30, 2018
Pulpwood		$61,898		$11,648		$20,910	—			$10,548	—				$105,004
Sawtimber	45,452		77,172		162,627		—		105,309		—			390,560
Hardwood	2,882		—		—		—		—		—			2,882
Total Timber Sales	110,232		88,820		183,537		—		115,857		—			498,446
License Revenue, Primarily From Hunting	12,137		450		292		—		—		—			12,879
Other Non-Timber/Carbon Revenue	8,320		1,923		5,053		—		—		—			15,296
Agency Fee Income	—		—		—		—		460		—			460
Total Non-Timber Sales	20,457		2,373		5,345		—		460		—			28,635
Improved Development	—		—		—		3,817		—		—			3,817
Unimproved Development	—		—		—		8,621		—		—			8,621
Rural	—		—		—		10,969		—		—			10,969
Non-strategic / Timberlands	—		—		—		98,685		—		—			98,685
Large Dispositions	—		—		—		—		—		—			—
Total Real Estate Sales	—		—		—		122,092		—		—			122,092
Revenue from Contracts with Customers	130,689		91,193		188,882		122,092		116,317		—			649,173
Other Non-Timber Sales, Primarily Lease	609		209		—		—		—		—			818
Intersegment	—		—		—		—		66		(66		)	—
Total Revenue		$131,298		$91,402		$188,882		$122,092		$116,383		($66	)		$649,991
September 30, 2017
Pulpwood		$52,407		$8,683		$18,956	—			$9,972	—				$90,018
Sawtimber	40,088		54,203		144,550		—		105,964		—			344,805
Hardwood	2,895		—		—		—		—		—			2,895
Total Timber Sales	95,390		62,886		163,506		—		115,936		—			437,718
License Revenue, Primarily from Hunting	11,809		354		154		—		—		—			12,317
Other Non-Timber Revenue	4,184		2,037		320		—		—		—			6,541
Agency Fee Income	—		—		—		—		1,051		—			1,051
Total Non-Timber Sales	15,993		2,391		474		—		1,051		—			19,909
Improved Development	—		—		—		189		—		—			189
Unimproved Development	—		—		—		16,405		—		—			16,405
Rural	—		—		—		15,357		—		—			15,357
Non-strategic / Timberlands	—		—		—		47,558		—		—			47,558
Large Dispositions	—		—		—		41,951		—		—			41,951
Total Real Estate Sales	—		—		—		121,460		—		—			121,460
Revenue from Contracts with Customers	111,383		65,277		163,980		121,460		116,987		—			579,087
Other Non-Timber Sales, Primarily Lease	584		203		—		—		—		—			787
Total Revenue		$111,967		$65,480		$163,980		$121,460		$116,987	—				$579,874

The following tables present our timber sales disaggregated by contract type for the three and nine months ended September 30, 2018 and 2017:

Three Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Trading		Total
September 30, 2018
Stumpage Pay-as-Cut		$16,984	—		—		—			$16,984
Stumpage Lump Sum	284		2,143		—		—		2,427
Stumpage Agreed Volume	—		—		—		—		—
Total Stumpage	17,268		2,143		—		—		19,411
Delivered Wood (Domestic)	15,856		24,912		24,771		1,813		67,352
Delivered Wood (Export)	1,679		—		39,170		28,995		69,844
Total Delivered	17,535		24,912		63,941		30,808		137,196
Total Timber Sales		$34,803		$27,055		$63,941		$30,808		$156,607
September 30, 2017
Stumpage Pay-as-Cut		$18,607	—		—		—			$18,607
Stumpage Lump Sum	1,954		3,987		—		—		5,941
Stumpage Agreed Volume	—		—		—		—		—
Total Stumpage	20,561		3,987		—		—		24,548
Delivered Wood (Domestic)	11,336		14,659		24,440		1,808		52,243
Delivered Wood (Export)	—		—		45,473		38,445		83,918
Total Delivered	11,336		14,659		69,913		40,253		136,161
Total Timber Sales		$31,897		$18,646		$69,913		$40,253		$160,709

Nine Months Ended	Southern Timber		Pacific Northwest Timber		New Zealand Timber		Trading		Total
September 30, 2018
Stumpage Pay-as-Cut		$59,348	—		—		—			$59,348
Stumpage Lump Sum	2,358		11,854		—		—		14,212
Stumpage Agreed Volume	—		—		—		—		—
Total Stumpage	61,706		11,854		—		—		73,560
Delivered Wood (Domestic)	44,399		76,966		70,521		4,317		196,203
Delivered Wood (Export)	4,127		—		113,016		111,540		228,683
Total Delivered	48,526		76,966		183,537		115,857		424,886
Total Timber Sales		$110,232		$88,820		$183,537		$115,857		$498,446
September 30, 2017
Stumpage Pay-as-Cut		$56,956	—		—		—			$56,956
Stumpage Lump Sum	6,997		6,574		—		—		13,571
Stumpage Agreed Volume	—		1,234		—		—		1,234
Total Stumpage	63,953		7,808		—		—		71,761
Delivered Wood (Domestic)	31,437		55,078		63,883		4,132		154,530
Delivered Wood (Export)	—		—		99,623		111,804		211,427
Total Delivered	31,437		55,078		163,506		115,936		365,957
Total Timber Sales		$95,390		$62,886		$163,506		$115,936		$437,718

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 acreage of standing timber	Contract execution (point-in-time)	Full payment due upon contract execution
Stumpage Agreed Volume	Right to harvest an agreed upon volume 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 table summarizes revenue recognized during the three and nine months ended September 30, 2018 and 2017 that was included in the contract liability balance at the beginning of each year:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Revenue recognized from contract liability balance at the beginning of the year (a)		$355		$459		$8,685		$8,369

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