REVENUE (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Contract with Customer, Liabilities

The following table summarizes revenue recognized during the three and nine months ended September 30, 2020 and 2019 that was included in the contract liability balance at the beginning of each year:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Revenue recognized from contract liability balance at the beginning of the year (a)	$690	$874	$10,296	$9,670

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

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, 2020 and 2019:

Three Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Real Estate	Trading	Elim.	Total
September 30, 2020
Pulpwood	$22,061	$1,963	$7,943	$227	—	$2,534	—	$34,728
Sawtimber	19,356	25,513	51,400	8,397	—	19,575	—	124,241
Hardwood	760	—	—	—	—	—	—	760
Total Timber Sales	42,177	27,476	59,343	8,624	—	22,109	—	159,729
License Revenue, Primarily from Hunting	4,461	252	60	(6)	—	—	—	4,767
Other Non-Timber/Carbon Revenue	1,015	1,157	3,401	15	—	—	—	5,588
Total Non-Timber Sales	5,476	1,409	3,461	9	—	—	—	10,355
Improved Development	—	—	—	—	1,344	—	—	1,344
Unimproved Development	—	—	—	—	—	—	—	—
Rural	—	—	—	—	23,245	—	—	23,245
Timberland & Non-Strategic	—	—	—	—	42	—	—	42
Conservation Easement	—	—	—	—	3,099	—	—	3,099
Deferred Revenue/Other (b)	—	—	—	—	737	—	—	737
Total Real Estate Sales	—	—	—	—	28,467	—	—	28,467
Revenue from Contracts with Customers	47,653	28,885	62,804	8,633	28,467	22,109	—	198,551
Lease Revenue	—	—	—	—	324	—	—	324
Intersegment	—	—	—	1,274	—	92	(1,366)	—
Total Revenue	$47,653	$28,885	$62,804	$9,907	$28,791	$22,201	($1,366)	$198,875
Three Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Real Estate	Trading	Elim.	Total
September 30, 2019
Pulpwood	$19,093	$2,109	$7,930	—	—	$2,795	—	$31,927
Sawtimber	11,581	16,064	51,415	—	—	22,214	—	101,274
Hardwood	2,338	—	—	—	—	—	—	2,338
Total Timber Sales	33,012	18,173	59,345	—	—	25,009	—	135,539
License Revenue, Primarily from Hunting	4,351	199	91	—	—	—	—	4,641
Other Non-Timber/Carbon Revenue	3,919	394	2,563	—	—	—	—	6,876
Agency Fee Income	—	—	—	—	—	149	—	149
Total Non-Timber Sales	8,270	593	2,654	—	—	149	—	11,666
Improved Development	—	—	—	—	4,492	—	—	4,492
Unimproved Development	—	—	—	—	—	—	—	—
Rural (a)	—	—	—	—	4,212	—	—	4,212
Timberland & Non-Strategic (a)	—	—	—	—	57	—	—	57
Deferred Revenue/Other (b)	—	—	—	—	451	—	—	451
Total Real Estate Sales	—	—	—	—	9,212	—	—	9,212
Revenue from Contracts with Customers	41,282	18,766	61,999	—	9,212	25,158	—	156,417
Intersegment	—	—	—	—	—	34	(34)	—
Total Revenue	$41,282	$18,766	$61,999	—	$9,212	$25,192	($34)	$156,417

(a)    The three months ended September 30, 2019 reflects the reclassification of certain real estate sales between the Rural and Timberland & Non-Strategic sales categories to better align with the way management internally evaluates real estate sales.

(b)    Includes deferred revenue adjustments and marketing fees related to Improved Development sales.

Nine Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Real Estate	Trading	Elim.	Total
September 30, 2020
Pulpwood	$74,239	$8,253	$18,545	$555	—	$7,527	—	$109,119
Sawtimber	55,224	75,255	117,157	14,701	—	57,493	—	319,830
Hardwood	1,752	—	—	—	—	—	—	1,752
Total Timber Sales	131,215	83,508	135,702	15,256	—	65,020	—	430,701
License Revenue, Primarily From Hunting	13,386	444	200	4	—	—	—	14,034
Other Non-Timber/Carbon Revenue	2,801	2,179	6,210	19	—	—	—	11,209
Agency Fee Income	—	—	—	—	—	327	—	327
Total Non-Timber Sales	16,187	2,623	6,410	23	—	327	—	25,570
Improved Development	—	—	—	—	7,771	—	—	7,771
Unimproved Development	—	—	—	—	8,426	—	—	8,426
Rural	—	—	—	—	52,876	—	—	52,876
Timberland & Non-Strategic	—	—	—	—	9,647	—	—	9,647
Conservation Easement	—	—	—	—	3,099	—	—	3,099
Deferred Revenue/Other (b)	—	—	—	—	(879)	—	—	(879)
Large Dispositions	—	—	—	—	116,027	—	—	116,027
Total Real Estate Sales	—	—	—	—	196,967	—	—	196,967
Revenue from Contracts with Customers	147,402	86,131	142,112	15,279	196,967	65,347	—	653,238
Lease Revenue	—	—	—	—	397	—	—	397
Intersegment	—	—	—	2,152	—	158	(2,310)	—
Total Revenue	$147,402	$86,131	$142,112	$17,431	$197,364	$65,505	($2,310)	$653,635
Nine Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Real Estate	Trading	Elim.	Total
September 30, 2019
Pulpwood	$65,202	$7,196	$25,278	—	—	$10,947	—	$108,623
Sawtimber	51,019	48,748	149,705	—	—	81,104	—	330,576
Hardwood	4,816	—	—	—	—	—	—	4,816
Total Timber Sales	121,037	55,944	174,983	—	—	92,051	—	444,015
License Revenue, Primarily from Hunting	12,772	404	287	—	—	—	—	13,463
Other Non-Timber/Carbon Revenue	14,516	1,508	5,987	—	—	—	—	22,011
Agency Fee Income	—	—	—	—	—	531	—	531
Total Non-Timber Sales	27,288	1,912	6,274	—	—	531	—	36,005
Improved Development	—	—	—	—	5,007	—	—	5,007
Unimproved Development	—	—	—	—	15,430	—	—	15,430
Rural (a)	—	—	—	—	30,525	—	—	30,525
Timberland & Non-Strategic (a)	—	—	—	—	1,263	—	—	1,263
Deferred Revenue/Other (b)	—	—	—	—	519	—	—	519
Total Real Estate Sales	—	—	—	—	52,744	—	—	52,744
Revenue from Contracts with Customers	148,325	57,856	181,257	—	52,744	92,582	—	532,764
Intersegment	—	—	—	—	—	137	(137)	—
Total Revenue	$148,325	$57,856	$181,257	—	$52,744	$92,719	($137)	$532,764

(a)    The nine months ended September 30, 2019 reflects the reclassification of certain real estate sales between the Rural and Timberland & Non-Strategic sales categories to better align with the way management internally evaluates real estate sales.

(b)    Includes deferred revenue adjustments and marketing fees related to Improved Development sales.

The following tables present our timber sales disaggregated by contract type for the three and nine months ended September 30, 2020 and 2019:

Three Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Trading	Total
September 30, 2020
Stumpage Pay-as-Cut	$14,518	—	—	$754	—	$15,272
Stumpage Lump Sum	310	472	—	—	—	782
Total Stumpage	14,828	472	—	754	—	16,054
Delivered Wood (Domestic)	21,976	27,004	20,127	7,870	362	77,339
Delivered Wood (Export)	5,373	—	39,216	—	21,747	66,336
Total Delivered	27,349	27,004	59,343	7,870	22,109	143,675
Total Timber Sales	$42,177	$27,476	$59,343	$8,624	$22,109	$159,729
September 30, 2019
Stumpage Pay-as-Cut	$13,077	—	—	—	—	$13,077
Stumpage Lump Sum	1,677	—	—	—	—	1,677
Total Stumpage	14,754	—	—	—	—	14,754
Delivered Wood (Domestic)	16,597	18,173	22,722	—	624	58,116
Delivered Wood (Export)	1,661	—	36,623	—	24,385	62,669
Total Delivered	18,258	18,173	59,345	—	25,009	120,785
Total Timber Sales	$33,012	$18,173	$59,345	—	$25,009	$135,539

Nine Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Trading	Total
September 30, 2020
Stumpage Pay-as-Cut	$56,141	—	—	$1,285	—	$57,426
Stumpage Lump Sum	1,561	5,929	—	—	—	7,490
Total Stumpage	57,702	5,929	—	1,285	—	64,916
Delivered Wood (Domestic)	64,473	77,579	45,944	13,971	1,296	203,263
Delivered Wood (Export)	9,040	—	89,758	—	63,724	162,522
Total Delivered	73,513	77,579	135,702	13,971	65,020	365,785
Total Timber Sales	$131,215	$83,508	$135,702	$15,256	$65,020	$430,701
September 30, 2019
Stumpage Pay-as-Cut	$56,257	—	—	—	—	$56,257
Stumpage Lump Sum	4,353	—	—	—	—	4,353
Total Stumpage	60,610	—	—	—	—	60,610
Delivered Wood (Domestic)	52,977	55,944	65,161	—	5,417	179,499
Delivered Wood (Export)	7,450	—	109,822	—	86,634	203,906
Total Delivered	60,427	55,944	174,983	—	92,051	383,405
Total Timber Sales	$121,037	$55,944	$174,983	—	$92,051	$444,015