REVENUE (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Contract with Customer, Liabilities

The following table summarizes revenue recognized during the three and six months ended June 30, 2022 and 2021 that was included in the contract liability balance at the beginning of each year:

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Revenue recognized from contract liability balance at the beginning of the year (a)	$4,968	$4,049	$12,501	$9,969

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

Schedule of Disaggregation of Revenue by Product

The following tables present our revenue from contracts with customers disaggregated by product type for the three and six months ended June 30, 2022 and 2021:

Three Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Real Estate	Trading	Elim.	Total
June 30, 2022
Pulpwood	$30,770	$3,572	$10,851	—	—	$2,999	—	$48,192
Sawtimber	21,744	34,310	64,247	—	—	24,319	—	144,620
Hardwood	5,706	—	—	—	—	—	—	5,706
Total Timber Sales	58,220	37,882	75,098	—	—	27,318	—	198,518
License Revenue, Primarily from Hunting	6,506	129	87	—	—	—	—	6,722
Other Non-Timber/Carbon Revenue	1,545	1,146	3,697	—	—	—	—	6,388
Agency Fee Income	—	—	—	—	—	316	—	316
Total Non-Timber Sales	8,051	1,275	3,784	—	—	316	—	13,426
Improved Development	—	—	—	—	11,566	—	—	11,566
Rural	—	—	—	—	23,420	—	—	23,420
Deferred Revenue/Other (a)	—	—	—	—	(907)	—	—	(907)
Total Real Estate Sales	—	—	—	—	34,079	—	—	34,079
Revenue from Contracts with Customers	66,271	39,157	78,882	—	34,079	27,634	—	246,023
Lease Revenue	—	—	—	—	323	—	—	323
Intersegment	—	—	—	—	—	49	(49)	—
Total Revenue	$66,271	$39,157	$78,882	—	$34,402	$27,683	($49)	$246,346
Three Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Real Estate	Trading	Elim.	Total
June 30, 2021
Pulpwood	$23,728	$2,078	$12,266	$395	—	$3,676	—	$42,143
Sawtimber	18,692	31,755	67,986	16,419	—	30,475	—	165,327
Hardwood	1,268	—	—	—	—	—	—	1,268
Total Timber Sales	43,688	33,833	80,252	16,814	—	34,151	—	208,738
License Revenue, Primarily from Hunting	4,493	117	81	26	—	—	—	4,717
Other Non-Timber/Carbon Revenue	1,113	1,373	226	399	—	—	—	3,111
Agency Fee Income	—	—	—	—	—	334	—	334
Total Non-Timber Sales	5,606	1,490	307	425	—	334	—	8,162
Improved Development	—	—	—	—	19,340	—	—	19,340
Rural	—	—	—	—	20,297	—	—	20,297
Conservation Easement	—	—	—	—	3,855	—	—	3,855
Deferred Revenue/Other (a)	—	—	—	—	(5,242)	—	—	(5,242)
Large Dispositions	—	—	—	—	36,000	—	—	36,000
Total Real Estate Sales	—	—	—	—	74,250	—	—	74,250
Revenue from Contracts with Customers	49,294	35,323	80,559	17,239	74,250	34,485	—	291,150
Lease Revenue	—	—	—	—	281	—	—	281
Intersegment	—	—	—	1,407	—	61	(1,468)	—
Total Revenue	$49,294	$35,323	$80,559	$18,646	$74,531	$34,546	($1,468)	$291,431

Six Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Real Estate	Trading	Elim.	Total
June 30, 2022
Pulpwood	$68,381	$6,491	$18,446	—	—	$4,523	—	$97,841
Sawtimber	49,260	76,524	106,347	—	—	35,857	—	267,988
Hardwood	11,555	—	—	—	—	—	—	11,555
Total Timber Sales	129,196	83,015	124,793	—	—	40,380	—	377,384
License Revenue, Primarily From Hunting	11,182	245	148	—	—	—	—	11,575
Other Non-Timber/Carbon Revenue	2,657	2,177	5,330	—	—	—	—	10,164
Agency Fee Income	—	—	—	—	—	667	—	667
Total Non-Timber Sales	13,839	2,422	5,478	—	—	667	—	22,406
Improved Development	—	—	—	—	16,532	—	—	16,532
Rural	—	—	—	—	40,369	—	—	40,369
Timberland & Non-Strategic	—	—	—	—	11,400	—	—	11,400
Deferred Revenue/Other (a)	—	—	—	—	(271)	—	—	(271)
Total Real Estate Sales	—	—	—	—	68,030	—	—	68,030
Revenue from Contracts with Customers	143,035	85,437	130,271	—	68,030	41,047	—	467,820
Lease Revenue	—	—	—	—	567	—	—	567
Intersegment	—	—	—	—	—	98	(98)	—
Total Revenue	$143,035	$85,437	$130,271	—	$68,597	$41,145	($98)	$468,387
Six Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Real Estate	Trading	Elim.	Total
June 30, 2021
Pulpwood	$45,584	$4,573	$21,809	$655	—	$5,510	—	$78,131
Sawtimber	40,655	69,513	115,777	29,727	—	44,865	—	300,537
Hardwood	1,673	—	—	—	—	—	—	1,673
Total Timber Sales	87,912	74,086	137,586	30,382	—	50,375	—	380,341
License Revenue, Primarily from Hunting	8,913	207	139	29	—	—	—	9,288
Other Non-Timber/Carbon Revenue	4,146	2,551	413	413	—	—	—	7,523
Agency Fee Income	—	—	—	—	—	691	—	691
Total Non-Timber Sales	13,059	2,758	552	442	—	691	—	17,502
Improved Development	—	—	—	—	19,592	—	—	19,592
Rural	—	—	—	—	30,062	—	—	30,062
Conservation Easement	—	—	—	—	3,855	—	—	3,855
Deferred Revenue/Other (a)	—	—	—	—	(4,987)	—	—	(4,987)
Large Dispositions	—	—	—	—	36,000	—	—	36,000
Total Real Estate Sales	—	—	—	—	84,522	—	—	84,522
Revenue from Contracts with Customers	100,971	76,844	138,138	30,824	84,522	51,066	—	482,365
Lease Revenue	—	—	—	—	513	—	—	513
Intersegment	—	—	—	2,761	—	146	(2,907)	—
Total Revenue	$100,971	$76,844	$138,138	$33,585	$85,035	$51,212	($2,907)	$482,878

(a)    Includes deferred revenue adjustments, revenue true-ups and marketing fees related to Improved Development sales.

The following tables present our timber sales disaggregated by contract type for the three and six months ended June 30, 2022 and 2021:

Three Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Trading	Total
June 30, 2022
Stumpage Pay-as-Cut	$21,326	—	—	—	—	$21,326
Stumpage Lump Sum	90	85	—	—	—	175
Total Stumpage	21,416	85	—	—	—	21,501
Delivered Wood (Domestic)	33,248	33,956	18,051	—	1,104	86,359
Delivered Wood (Export)	3,556	3,841	57,047	—	26,214	90,658
Total Delivered	36,804	37,797	75,098	—	27,318	177,017
Total Timber Sales	$58,220	$37,882	$75,098	—	$27,318	$198,518
June 30, 2021
Stumpage Pay-as-Cut	$15,183	—	—	$197	—	$15,380
Stumpage Lump Sum	4,645	932	—	—	—	5,577
Total Stumpage	19,828	932	—	197	—	20,957
Delivered Wood (Domestic)	19,955	32,901	19,250	16,617	1,236	89,959
Delivered Wood (Export)	3,905	—	61,002	—	32,915	97,822
Total Delivered	23,860	32,901	80,252	16,617	34,151	187,781
Total Timber Sales	$43,688	$33,833	$80,252	$16,814	$34,151	$208,738

Six Months Ended	Southern Timber	Pacific Northwest Timber	New Zealand Timber	Timber Funds	Trading	Total
June 30, 2022
Stumpage Pay-as-Cut	$57,532	—	—	—	—	$57,532
Stumpage Lump Sum	90	5,473	—	—	—	5,563
Total Stumpage	57,622	5,473	—	—	—	63,095
Delivered Wood (Domestic)	65,376	73,402	31,532	—	1,729	172,039
Delivered Wood (Export)	6,198	4,140	93,261	—	38,651	142,250
Total Delivered	71,574	77,542	124,793	—	40,380	314,289
Total Timber Sales	$129,196	$83,015	$124,793	—	$40,380	$377,384
June 30, 2021
Stumpage Pay-as-Cut	$36,440	—	—	$197	—	$36,637
Stumpage Lump Sum	4,647	7,063	—	—	—	11,710
Total Stumpage	41,087	7,063	—	197	—	48,347
Delivered Wood (Domestic)	38,014	67,023	36,356	30,185	2,327	173,905
Delivered Wood (Export)	8,811	—	101,230	—	48,048	158,089
Total Delivered	46,825	67,023	137,586	30,185	50,375	331,994
Total Timber Sales	$87,912	$74,086	$137,586	$30,382	$50,375	$380,341