CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
OPERATING ACTIVITIES
Net income		$ 27,793	$ 42,706
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization		36,491	34,537
Non-cash cost of land and improved development		4,030	1,624
Stock-based incentive compensation expense		1,477	1,262
Deferred income taxes		3,705	6,982
Amortization of losses from pension and postretirement plans		112	159
Other		1,491	6,271
Changes in operating assets and liabilities:
Receivables		(8,195)	(10,473)
Inventories		(1,343)	(1,268)
Accounts payable		6,389	3,921
Income tax receivable/payable		0	(290)
All other operating activities		(1,033)	(7,196)
CASH PROVIDED BY OPERATING ACTIVITIES		70,917	78,235
INVESTING ACTIVITIES
Capital expenditures		(14,122)	(13,192)
Real estate development investments		(1,677)	(2,340)
Purchase of timberlands		(12,349)	(12)
Other		2,337	(2,105)
CASH USED FOR INVESTING ACTIVITIES		(25,811)	(17,649)
FINANCING ACTIVITIES
Repayment of debt		0	(29,375)
Dividends paid		(34,877)	(32,123)
Proceeds from the issuance of common shares under incentive stock plan		597	5,455
Repurchase of common shares		(33)	(18)
Distribution to minority shareholder		(3,594)	0
Other		(16)	0
CASH USED FOR FINANCING ACTIVITIES		(37,923)	(56,061)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		843	807
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash		8,026	5,332
Balance, beginning of year		156,454	172,356
Balance, end of period		164,480	177,688
Cash paid during the period:
Interest	[1]	2,120	2,585
Income taxes		631	281
Non-cash investing activity:
Capital assets purchased on account		$ 3,354	$ 1,525

[1] Interest paid is presented net of patronage payments received of $3.9 million and $3.7 million for the three months ended March 31, 2019 and March 31, 2018, respectively. For additional information on patronage payments, see Note 5 — Debt in the 2018 Form 10-K.