INVENTORY

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

INVENTORY

INVENTORY

As of March 31, 2023 and December 31, 2022, our inventory consisted entirely of finished goods, as follows:

	March 31, 2023	December 31, 2022
Finished goods inventory
Real estate inventory (a)	$18,435	$17,909
Log inventory	11,394	5,347
Carbon unit inventory (b)	468	473
Total inventory	$30,297	$23,729

(a)Represents the cost of HBU real estate (including capitalized development investments) under contract to be sold as well as the cost of HBU real estate deferred until post-closing obligations are satisfied. See Note 12 — Higher And Better Use Timberlands and Real Estate Development Investments for additional information.

(b)Represents the basis in New Zealand carbon units intended to be sold in the next 12 months.