LEASES (Tables)

6 Months Ended

Jun. 30, 2019

The following table details the Company’s undiscounted lease obligations as of June 30, 2019 by type of lease and year of expiration:



				Year of Expiration
Lease obligations	Total			Remaining 2019		2020		2021		2022		2023		Thereafter
Operating lease liabilities		$202,266			$5,874		$9,642		$9,494		$8,858		$8,318		$160,080
Total Undiscounted Cash Flows		$202,266			$5,874		$9,642		$9,494		$8,858		$8,318		$160,080
Imputed interest	(98,212		)
Balance at June 30, 2019	104,054
Less: Current portion	(10,305		)
Non-current portion at June 30, 2019		$93,749

The following table details components of the Company’s lease cost for the three and six months ended June 30, 2019:


(a)	The majority of timberland leases are subject to increases or decreases based on either the Consumer Price Index, Producer Price Index or market rates.


(b)	Short-term leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense for these leases are expensed on a straight line basis over the lease term. Short-term lease expense was not material for the three and six months ended June 30,2019.

The following table details components of the Company’s lease cost for the six months ended June 30, 2019:



	Six Months Ended June 30,
Supplemental cash flow information related to leases:	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	1,493
Investing cash flows from operating leases	3,340
Total cash flows from operating leases		$4,833

Weighted-average remaining lease term in years - operating leases	28
Weighted-average discount rate - operating leases	5		%

The Company applied the following practical expedients upon adoption of the the new standard as allowed under ASC 842:



Practical Expedient		Description
Short-term leases		The Company does not record right-of-use assets or lease liabilities for short-term leases (a lease that at commencement date has a lease term of 12 months or less and does not contain a purchase option that is reasonably certain to be exercised).
Separation of lease and non-lease components		The Company does not separate non-lease components from the associated lease components if they have the same timing and pattern of transfer and, if accounted for separately, would both be classified as an operating lease.