RESTRICTED CASH

6 Months Ended

Jun. 30, 2023

Restricted Cash and Investments [Abstract]

Restricted cash, excluding Timber Funds includes cash deposited with a like-kind exchange (“LKE”) intermediary. In order to qualify for LKE treatment, the proceeds from real estate sales must be deposited with a third-party intermediary. These proceeds are accounted for as restricted cash until a suitable replacement property is acquired. In the event LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. Additionally, restricted cash, excluding Timber Funds, includes cash balances held in escrow as collateral for certain contractual obligations related to our Heartwood development project as well as cash held in escrow for real estate sales.

Restricted cash, Timber Funds includes the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests.

The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the six months ended June 30, 2023 and 2022:


	Six Months Ended June 30,
	2023	2022

Restricted cash, excluding Timber Funds:
Restricted cash deposited with LKE intermediary	$1,646	$13,704
Restricted cash held in escrow	3,316	625
Total restricted cash, excluding Timber Funds	4,962	14,329
Restricted cash, Timber Funds	—	1,464

Cash and cash equivalents	88,404	280,280






Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows	$93,366	$296,073