SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables summarize the segment information for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
SALES	2022	2021
Southern Timber	$76,763	$51,677
Pacific Northwest Timber	46,281	41,522
New Zealand Timber	51,389	57,579
Timber Funds (a)	—	14,939
Real Estate	34,195	10,504
Trading	13,461	16,665
Intersegment Eliminations (b)	(48)	(1,439)
Total	$222,041	$191,447

(a)The three months ended March 31, 2021 includes $11.9 million of sales attributable to noncontrolling interests in Timber Funds.

(b)Primarily consists of the elimination of timberland investment management fees paid to us by the timber funds, which were initially recognized as sales and cost of sales within the Timber Funds segment, as well as log marketing fees paid to our Trading segment from our Southern Timber and Pacific Northwest Timber segments for marketing log export sales.

	Three Months Ended March 31,
OPERATING INCOME	2022	2021
Southern Timber	$30,342	$17,347
Pacific Northwest Timber	6,606	1,350
New Zealand Timber	5,392	13,944
Timber Funds (a)	—	1,501
Real Estate	10,181	1,687
Trading	351	244
Corporate and Other	(7,554)	(7,588)
Total Operating Income	45,318	28,485
Unallocated interest expense and other	(8,805)	(10,032)
Total Income before Income Taxes	$36,513	$18,453

(a)The three months ended March 31, 2021 includes $1.1 million of operating income attributable to noncontrolling interests in Timber Funds.

	Three Months Ended March 31,
DEPRECIATION, DEPLETION AND AMORTIZATION	2022	2021
Southern Timber	$18,059	$14,359
Pacific Northwest Timber	14,916	16,284
New Zealand Timber	4,989	7,250
Timber Funds (a)	—	5,500
Real Estate	9,145	1,557
Corporate and Other	310	263
Total	$47,419	$45,213

(a)The three months ended March 31, 2021 includes $4.9 million of depreciation, depletion and amortization attributable to noncontrolling interests in Timber Funds.

	Three Months Ended March 31,
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	2022	2021
Real Estate	$5,359	$1,813
Total	$5,359	$1,813