HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Schedule of Higher and Better Use Timberlands and Real Estate Development Investments

An analysis of higher and better use timberlands and real estate development investments from December 31, 2019 to December 31, 2020 is shown below:

	Higher and Better Use Timberlands and Real Estate Development Investments
	Land and Timber	Development Investments	Total
Non-current portion at December 31, 2019	$58,091	$23,700	$81,791
Plus: Current portion (a)	274	12,389	12,663
Total Balance at December 31, 2019	58,365	36,089	94,454
Non-cash cost of land and improved development	(1,834)	(7,390)	(9,224)
Timber depletion from harvesting activities and basis of timber sold in real estate sales	(725)	—	(725)
Capitalized real estate development investments (b)	—	6,462	6,462
HBU properties acquired in merger with Pope Resources (c)	26,510	—	26,510
Capital expenditures (silviculture)	427	—	427
Intersegment transfers	(2,630)	—	(2,630)
Total Balance at December 31, 2020	80,113	35,161	115,274
Less: Current portion (a)	(212)	(6,544)	(6,756)
Non-current portion at December 31, 2020	$79,901	$28,617	$108,518

(a)The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 22 — Inventory for additional information.

(b)Capitalized real estate development investments includes $0.4 million of capitalized interest.

(c)Based on preliminary estimates of fair value as of December 31, 2020. See Note 2 - Merger with Pope Resources for additional information.