PotlatchDeltic (PCH) 10-Q 29 Jul 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 27, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Registrant Name	POTLATCH CORP
Entity Central Index Key	1,338,749
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		40,677,586
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014
Net income		$ 711	$ 16,270	$ 6,367		$ 36,620
Other comprehensive income, net of tax:
Amortization of prior service credit included in net periodic cost, net of tax of $(848), $(867), $(1,697) and $(1,734)	[1]	(1,328)	(1,356)	(2,656)		(2,712)
Amortization of actuarial loss included in net periodic cost, net of tax of $1,900, $1,568, $3,837 and $3,245	[1]	2,974	2,452	6,003		5,074
Other comprehensive income, net of tax	[1]	1,646	1,096	3,347		2,362
Comprehensive income		$ 2,357	$ 17,366	$ 9,714	[1]	$ 38,982
[1]	Amortization of prior service credit (cost) and amortization of actuarial loss are included in the computation of net periodic cost (benefit).

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues	$ 128,747	$ 143,919	$ 262,872	$ 283,498
Costs and expenses:
Cost of goods sold	109,441	101,849	217,213	200,442
Selling, general and administrative expenses	11,995	12,345	24,321	22,022
Total costs and expenses	121,436	114,194	241,534	222,464
Operating income	7,311	29,725	21,338	61,034
Interest expense, net	(8,016)	(5,509)	(16,085)	(10,969)
Income (loss) before income taxes	(705)	24,216	5,253	50,065
Income taxes	1,416	(7,946)	1,114	(13,445)
Net income	$ 711	$ 16,270	$ 6,367	$ 36,620
Net income per share:
Basic (in dollars per share)	$ 0.02	$ 0.40	$ 0.16	$ 0.90
Diluted (in dollars per share)	0.02	0.40	0.16	0.90
Distributions per share (in dollars per share)	$ 0.375	$ 0.35	$ 0.75	$ 0.70
Weighted-average shares outstanding (in thousands):
Basic (in shares)	40,842,672	40,740,979	40,822,326	40,726,397
Diluted (in shares)	40,963,488	40,850,253	40,932,852	40,833,041

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Amortization of prior service credit included in net periodic cost, tax effect	$ (848)	$ (867)	$ (1,697)	$ (1,734)
Amortization of actuarial loss included in net periodic cost, tax effect	$ 1,900	$ 1,568	$ 3,837	$ 3,245

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash	$ 8,783	$ 4,644
Short-term investments	1,831	26,368
Receivables, net	18,055	9,928
Inventories	41,124	31,490
Deferred tax assets, net	6,168	6,168
Other assets	14,335	15,065
Total current assets	90,296	93,663
Property, plant and equipment, net	73,766	65,749
Timber and timberlands, net	824,587	828,420
Deferred tax assets, net	36,794	37,228
Other assets	14,809	10,361
Total assets	1,040,252	1,035,421
Current liabilities:
Accounts payable and accrued liabilities	61,531	49,324
Current portion of long-term debt	27,500	22,870
Revolving line of credit borrowings	15,000	0
Total current liabilities	104,031	72,194
Long-term debt	601,759	606,473
Liability for pension and other postretirement employee benefits	115,127	115,936
Other long-term obligations	14,043	15,752
Total liabilities	834,960	810,355
Common Stock	40,678	40,605
Additional paid-in capital	347,433	346,441
Accumulated deficit	(67,774)	(43,588)
Accumulated other comprehensive loss	(115,045)	(118,392)
Total stockholders’ equity	205,292	225,066
Total liabilities and stockholders' equity	$ 1,040,252	$ 1,035,421

Consolidated Condensed Statemen

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income		$ 6,367	$ 36,620
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization	[1]	15,597	11,002
Basis of real estate sold		1,008	6,834
Change in deferred taxes		(1,707)	536
Employee benefit plans		3,166	(267)
Equity-based compensation expense		2,259	2,032
Other, net		(5,496)	(1,161)
Working capital and operating-related activities, net		(4,538)	12,836
Net cash from operating activities		16,656	68,432
CASH FLOWS FROM INVESTING ACTIVITIES
Change in short-term investments		24,537	(21,665)
Property, plant and equipment		(12,248)	(6,508)
Timberlands reforestation and roads		(6,004)	(5,887)
Other, net		433	334
Net cash from investing activities		6,718	(33,726)
CASH FLOWS FROM FINANCING ACTIVITIES
Distributions to common stockholders		(30,507)	(28,413)
Revolving line of credit borrowings		15,000	0
Employee tax withholdings on equity-based compensation		(1,445)	(1,079)
Change in book overdrafts		(2,246)	(1,424)
Other, net		(37)	(124)
Net cash from financing activities		(19,235)	(31,040)
Change in cash		4,139	3,666
Cash at beginning of period		4,644	5,586
Cash at end of period		8,783	9,252
Cash paid during the period for:
Interest, net of amounts capitalized		13,702	10,431
Income taxes, net		$ 1,512	$ 6,546
[1]	The presentation of depreciation, depletion and amortization in Segment Information and the Condensed Consolidated Statements of Cash Flows includes amortization of bond discounts and deferred loan fees. Bond discounts and deferred loan fees are recorded in Interest expense, net in the Consolidated Statements of Income.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION For purposes of this report, any reference to “Potlatch,” “the company,” “we,” “us,” and “our” means Potlatch Corporation and all of its wholly-owned subsidiaries, except where the context indicates otherwise. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial statements; certain disclosures normally provided in accordance with generally accepted accounting principles in the United States have been omitted. This Quarterly Report on Form 10-Q should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014 , as filed with the Securities and Exchange Commission on February 13, 2015 . We believe that all adjustments necessary for a fair statement of the results of such interim periods have been included and all such adjustments are of a normal recurring nature.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, Interest - Imputation of Interest, Simplifying the Presentation of Debt Issuance Costs. The amendments in ASU No. 2015-3 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. ASU No. 2015-03 is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. Early adoption is permitted. The adoption of this guidance is not expected to have a significant effect on our consolidated financial statements or financial covenants. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330) - Simplifying the Measurement of Inventory . The amendments in ASU No. 2015-11 apply to inventory measures using first-in, first-out (FIFO) or average cost and will require entities to measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the normal coarse of business, minus the cost of completion, disposal and transportation. Replacement cost and net realizable value less a normal profit margin will no longer be considered. ASU No. 2015-11 is effective for fiscal years beginning after December 15, 2016 and interim periods within fiscal years beginning after December 15, 2017. The adoption of this guidance is not expected to have a significant effect on our consolidated financial statements.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share, Basic, Other Disclosures [Abstract]
Earnings per Share	EARNINGS PER SHARE The following table details the number of shares used in calculating basic and diluted earnings per share: Quarter Ended Six Months Ended (Dollars in thousands, except per-share amounts) 2015 2014 2015 2014 Net income $ 711 $ 16,270 $ 6,367 $ 36,620 Basic weighted-average shares outstanding 40,842,672 40,740,979 40,822,326 40,726,397 Incremental shares due to: Performance shares 100,915 82,013 92,130 77,139 Restricted stock units 19,901 24,642 18,396 26,727 Stock options — 2,619 — 2,778 Diluted weighted-average shares outstanding 40,963,488 40,850,253 40,932,852 40,833,041 Basic net income per share $ 0.02 $ 0.40 $ 0.16 $ 0.90 Diluted net income per share $ 0.02 $ 0.40 $ 0.16 $ 0.90 Antidilutive shares excluded from the calculation: Performance shares — 13,322 60,547 38,776 Restricted stock units 1,000 369 20,179 — Total antidilutive shares excluded from the calculation 1,000 13,691 80,726 38,776

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The following table details the composition of our inventories: (Dollars in thousands) June 30, December 31, Inventories: Wood Products finished goods inventory $ 16,980 $ 17,286 Logs 16,670 7,930 Materials and supplies 7,474 6,274 $ 41,124 $ 31,490

Debt Debt

Debt Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	DEBT Our credit agreement, dated August 12, 2014, provides for a revolving line of credit up to $250 million , which includes $40 million for the issuance of stand by letters of credit and $25 million for swingline loans. At June 30, 2015, $15.0 million was outstanding under the revolving line of credit and approximately $1.4 million was utilized by outstanding letters of credit, resulting in $233.6 million available for additional borrowings.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 2015
Share-based Compensation [Abstract]
Equity-Based Compensation	EQUITY-BASED COMPENSATION As of June 30, 2015 , we had two stock incentive plans under which performance shares, restricted stock units (RSUs) and deferred compensation stock equivalent units were outstanding. These plans have received shareholder approval. We were originally authorized to issue up to 1.6 million shares and 1.0 million shares under our 2005 Stock Incentive Plan and 2014 Stock Incentive Plan, respectively. At June 30, 2015, approximately 1.0 million shares were authorized for future use under the two plans. We issue new shares of common stock to settle performance shares, restricted stock units and deferred compensation stock equivalent units. The following table details compensation expense and the related income tax benefit: Quarter Ended Six Months Ended (Dollars in thousands) 2015 2014 2015 2014 Employee equity-based compensation expense: Performance shares $ 950 $ 961 $ 1,822 $ 1,695 Restricted stock units 232 163 437 337 Total employee equity-based compensation expense $ 1,182 $ 1,124 $ 2,259 $ 2,032 Deferred compensation stock equivalent units expense (income) $ 47 $ 427 $ 166 $ (14 ) Total tax benefit recognized for share-based expense $ 78 $ 81 $ 152 $ 155 PERFORMANCE SHARES The following table presents the key inputs used in the Monte Carlo simulation method to calculate the fair value of the performance share awards in 2015 and 2014 , and the resulting fair values: Six Months Ended 2015 2014 Shares granted 78,974 87,441 Stock price as of valuation date $ 40.00 $ 39.76 Risk-free rate 1.07 % 0.72 % Fair value of a performance share $ 36.71 $ 45.57 The following table summarizes outstanding performance share awards as of June 30, 2015 , and changes during the six months ended June 30, 2015 : (Dollars in thousands, except grant date fair value) Shares Weighted-Avg. Grant Date Fair Value Aggregate Intrinsic Value Unvested shares outstanding at January 1 160,233 $ 53.86 Granted 78,974 $ 36.71 Unvested shares outstanding at June 30 239,207 $ 48.20 $ 8,112 As of June 30, 2015 , there was $5.0 million of unrecognized compensation cost related to unvested performance share awards, which is expected to be recognized over a weighted-average period of 1.9 years. RESTRICTED STOCK UNITS The following table summarizes outstanding RSU awards as of June 30, 2015 , and changes during the six months ended June 30, 2015 : (Dollars in thousands, except grant date fair value) Shares Weighted-Avg. Grant Date Fair Value Aggregate Intrinsic Value Unvested shares outstanding at January 1 32,455 $ 42.24 Granted 27,820 $ 39.99 Vested (2,400 ) $ 45.79 Unvested shares outstanding at June 30 57,875 $ 41.01 $ 2,044 The fair value of each RSU equaled our common share price on the date of grant. The total fair value of RSU awards vested during the six months ended June 30, 2015 was $0.1 million . As of June 30, 2015 , there was $1.5 million of total unrecognized compensation cost related to unvested RSU awards, which is expected to be recognized over a weighted-average period of 1.8 years.

Pension and Other Postretiremen

Pension and Other Postretirement Employee Benefits	6 Months Ended
	Jun. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Pension and Other Postretirement Employee Benefits	PENSION AND OTHER POSTRETIREMENT EMPLOYEE BENEFITS The following tables detail the components of net periodic cost (benefit) of our pension plans and other postretirement employee benefits (OPEB): Quarters Ended June 30, Pension OPEB (Dollars in thousands) 2015 2014 2015 2014 Service cost $ 1,531 $ 1,339 $ 4 $ (11 ) Interest cost 4,259 4,783 345 372 Expected return on plan assets (5,192 ) (6,126 ) — — Amortization of prior service cost (credit) 152 187 (2,328 ) (2,410 ) Amortization of actuarial loss 4,408 3,606 466 414 Net periodic cost (benefit) $ 5,158 $ 3,789 $ (1,513 ) $ (1,635 ) Six Months Ended June 30, Pension OPEB (Dollars in thousands) 2015 2014 2015 2014 Service cost $ 3,061 $ 2,540 $ 11 $ 12 Interest cost 8,518 9,592 728 871 Expected return on plan assets (10,383 ) (12,256 ) — — Amortization of prior service cost (credit) 303 374 (4,656 ) (4,820 ) Amortization of actuarial loss 8,816 7,226 1,024 1,093 Net periodic cost (benefit) $ 10,315 $ 7,476 $ (2,893 ) $ (2,844 ) During the six months ended June 30, 2015 , we paid non-qualified supplemental pension benefits of $0.9 million . The following tables detail the changes in accumulated other comprehensive loss (AOCL): Quarter Ended June 30, 2015 (Dollars in thousands) Pension OPEB Total AOCL at April 1 $ 116,691 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) $ (92 ) $ 1,420 1,328 Actuarial loss (2,689 ) (285 ) (2,974 ) Total reclassification for the period $ (2,781 ) $ 1,135 (1,646 ) AOCL at June 30 $ 115,045 Quarter Ended June 30, 2014 (Dollars in thousands) Pension OPEB Total AOCL at April 1 $ 97,454 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) $ (114 ) $ 1,470 1,356 Actuarial loss (2,200 ) (252 ) (2,452 ) Total reclassification for the period $ (2,314 ) $ 1,218 (1,096 ) AOCL at June 30 $ 96,358 Six Months Ended June 30, 2015 (Dollars in thousands) Pension OPEB Total AOCL at January 1 $ 118,392 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) $ (184 ) $ 2,840 2,656 Actuarial loss (5,378 ) (625 ) (6,003 ) Total reclassification for the period $ (5,562 ) $ 2,215 (3,347 ) AOCL at June 30 $ 115,045 Six Months Ended June 30, 2014 (Dollars in thousands) Pension OPEB Total AOCL at January 1 $ 98,720 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) $ (228 ) $ 2,940 2,712 Actuarial loss (4,408 ) (666 ) (5,074 ) Total reclassification for the period $ (4,636 ) $ 2,274 (2,362 ) AOCL at June 30 $ 96,358 1 Amortization of prior service credit (cost) and amortization of actuarial loss are included in the computation of net periodic cost (benefit).

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2015
Derivative Instrument Detail [Abstract]
Financial Instruments	FINANCIAL INSTRUMENTS The following table presents the estimated fair values of our financial instruments: June 30, 2015 December 31, 2014 (Dollars in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Cash and short-term investments (Level 1) $ 10,614 $ 10,614 $ 31,012 $ 31,012 Revolving line of credit borrowings (Level 1) $ 15,000 $ 15,000 $ — $ — Derivative asset related to interest rate swaps (Level 2) $ 799 $ 799 $ 793 $ 793 Long-term debt, including fair value adjustments related to fair value hedges (Level 2) $ 629,259 $ 655,529 $ 629,343 $ 657,943 Company owned life insurance asset (COLI) (Level 3) $ 1,454 $ 1,454 $ 877 $ 877 For cash and short-term investments, the carrying amount approximates fair value due to the short-term nature of these financial instruments. The fair value of the interest rate swaps was determined by discounting the expected cash flows of each derivative. The analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate forward curves. For our revolving line of credit borrowings, the carrying amount approximates fair value due to the short-term nature of the borrowings. The fair value of our long-term debt is estimated based upon the quoted market prices for the same or similar debt issues, or estimated based on average market prices for comparable debt when there is no quoted market price. Contract value of our COLI, the amount at which it could be redeemed, is used as a practical expedient to estimate fair value because market prices are not readily available. BALANCE SHEET AND INCOME EFFECTS OF DERIVATIVES We have seven interest rate swaps to convert interest payments on fixed rate debt to variable rate 3-month LIBOR plus a spread, with the objective of managing exposure to fluctuations in market interest rates on our debt balances. The following table presents the gross fair values of derivative instruments on our Condensed Consolidated Balance Sheets : (Dollars in thousands) Location June 30, December 31, Derivatives designated as hedging instruments: Interest rate contracts Current assets $ 233 $ 372 Interest rate contracts Non-current assets 566 421 Total derivatives designated as hedging instruments $ 799 $ 793 The following table details the effect of derivatives on our Consolidated Statements of Income : Gain Recognized in Income Location Quarter Ended Six Months Ended (Dollars in thousands) 2015 2014 2015 2014 Derivatives designated in fair value hedging relationships: Realized gain on interest rate contract 1 Interest expense $ 409 $ 247 $ 788 $ 501 Net gain recognized in income from fair value hedges $ 409 $ 247 $ 788 $ 501 1 Realized gain on hedging instrument consists of net cash settlements and interest accruals on the interest rate swaps during the periods. Net cash settlements are included in the supplemental cash flow information within interest, net of amounts capitalized in the Condensed Consolidated Statements of Cash Flows . No net unrealized gain or loss associated with the interest rate swaps was recognized in income for any of the periods presented because we recognized no hedge ineffectiveness.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES As a real estate investment trust (REIT), we generally are not subject to federal and state corporate income taxes on income of the REIT that we distribute to our shareholders. We are, however, subject to corporate income taxes on built-in gains (the excess of fair market value over tax basis on January 1, 2006) on sales of real property by the REIT during the first ten years following our REIT conversion, which ends on December 31, 2015. The sale of standing timber is not subject to built-in gains tax. The Small Business Jobs Act of 2010 modified the built-in gains provisions to exempt sales of real properties in 2011, if five years of the recognition period had elapsed before January 1, 2011. The reduced five -year holding period was extended each year through 2014. Accordingly, the built-in gains tax did not apply to our sales of real property through 2014; however, the built-in gains tax applies to REIT sales of real property in 2015. We conduct certain activities through our taxable REIT subsidiaries (TRS), which are subject to corporate level federal and state income taxes. These taxable activities are principally comprised of our wood products manufacturing operations and certain real estate investments. Therefore, income taxes are primarily due to income of the TRS.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES There have been no material changes to our commitments and contingencies as reported in " Note 14: Commitments and Contingencies" in the Notes to Consolidated Financial Statements in our 2014 Annual Report on Form 10-K.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting Information, Additional Information [Abstract]
Segment Information	SEGMENT INFORMATION The following table summarizes information by business segment: Quarter Ended Six Months Ended (Dollars in thousands) 2015 2014 2015 2014 Revenues: Resource $ 44,111 $ 39,512 $ 98,066 $ 91,417 Wood Products 84,191 100,572 173,424 188,376 Real Estate 10,745 15,737 13,856 30,176 139,047 155,821 285,346 309,969 Elimination of intersegment revenues - Resource (10,300 ) (11,902 ) (22,474 ) (26,471 ) Total consolidated revenues $ 128,747 $ 143,919 $ 262,872 $ 283,498 Operating income (loss): Resource $ 8,797 $ 10,818 $ 23,775 $ 27,042 Wood Products (1,953 ) 14,870 1,547 27,577 Real Estate 8,521 12,378 10,120 20,649 Eliminations and adjustments 539 788 3,514 1,630 15,904 38,854 38,956 76,898 Corporate (8,593 ) (9,129 ) (17,618 ) (15,864 ) Operating income 7,311 29,725 21,338 61,034 Interest expense, net (8,016 ) (5,509 ) (16,085 ) (10,969 ) Income (loss) before income taxes $ (705 ) $ 24,216 $ 5,253 $ 50,065 Depreciation, depletion and amortization: 1 Resource $ 4,797 $ 2,728 $ 11,051 $ 6,644 Wood Products 1,661 1,515 3,237 3,044 Real Estate 15 14 30 29 6,473 4,257 14,318 9,717 Corporate 620 641 1,279 1,285 Total depreciation, depletion and amortization $ 7,093 $ 4,898 $ 15,597 $ 11,002 Basis of real estate sold: Real Estate $ 710 $ 2,242 $ 1,181 $ 7,409 Eliminations and adjustments (110 ) (30 ) (173 ) (575 ) Total basis of real estate sold $ 600 $ 2,212 $ 1,008 $ 6,834 1 The presentation of depreciation, depletion and amortization in Segment Information and the Condensed Consolidated Statements of Cash Flows includes amortization of bond discounts and deferred loan fees. Bond discounts and deferred loan fees are recorded in Interest expense, net in the Consolidated Statements of Income .

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share, Basic, Other Disclosures [Abstract]
Reconciliation of Number of Common Shares Used in Calculating Basic and Diluted EPS	The following table details the number of shares used in calculating basic and diluted earnings per share: Quarter Ended Six Months Ended (Dollars in thousands, except per-share amounts) 2015 2014 2015 2014 Net income $ 711 $ 16,270 $ 6,367 $ 36,620 Basic weighted-average shares outstanding 40,842,672 40,740,979 40,822,326 40,726,397 Incremental shares due to: Performance shares 100,915 82,013 92,130 77,139 Restricted stock units 19,901 24,642 18,396 26,727 Stock options — 2,619 — 2,778 Diluted weighted-average shares outstanding 40,963,488 40,850,253 40,932,852 40,833,041 Basic net income per share $ 0.02 $ 0.40 $ 0.16 $ 0.90 Diluted net income per share $ 0.02 $ 0.40 $ 0.16 $ 0.90 Antidilutive shares excluded from the calculation: Performance shares — 13,322 60,547 38,776 Restricted stock units 1,000 369 20,179 — Total antidilutive shares excluded from the calculation 1,000 13,691 80,726 38,776

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table details the composition of our inventories: (Dollars in thousands) June 30, December 31, Inventories: Wood Products finished goods inventory $ 16,980 $ 17,286 Logs 16,670 7,930 Materials and supplies 7,474 6,274 $ 41,124 $ 31,490

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Share-based Compensation [Abstract]
Details of Compensation Expense	The following table details compensation expense and the related income tax benefit: Quarter Ended Six Months Ended (Dollars in thousands) 2015 2014 2015 2014 Employee equity-based compensation expense: Performance shares $ 950 $ 961 $ 1,822 $ 1,695 Restricted stock units 232 163 437 337 Total employee equity-based compensation expense $ 1,182 $ 1,124 $ 2,259 $ 2,032 Deferred compensation stock equivalent units expense (income) $ 47 $ 427 $ 166 $ (14 ) Total tax benefit recognized for share-based expense $ 78 $ 81 $ 152 $ 155
Fair Value of Performance Share Awards	The following table presents the key inputs used in the Monte Carlo simulation method to calculate the fair value of the performance share awards in 2015 and 2014 , and the resulting fair values: Six Months Ended 2015 2014 Shares granted 78,974 87,441 Stock price as of valuation date $ 40.00 $ 39.76 Risk-free rate 1.07 % 0.72 % Fair value of a performance share $ 36.71 $ 45.57
Summary of Outstanding Performance Share Awards	The following table summarizes outstanding performance share awards as of June 30, 2015 , and changes during the six months ended June 30, 2015 : (Dollars in thousands, except grant date fair value) Shares Weighted-Avg. Grant Date Fair Value Aggregate Intrinsic Value Unvested shares outstanding at January 1 160,233 $ 53.86 Granted 78,974 $ 36.71 Unvested shares outstanding at June 30 239,207 $ 48.20 $ 8,112
Summary of Outstanding RSU Awards	The following table summarizes outstanding RSU awards as of June 30, 2015 , and changes during the six months ended June 30, 2015 : (Dollars in thousands, except grant date fair value) Shares Weighted-Avg. Grant Date Fair Value Aggregate Intrinsic Value Unvested shares outstanding at January 1 32,455 $ 42.24 Granted 27,820 $ 39.99 Vested (2,400 ) $ 45.79 Unvested shares outstanding at June 30 57,875 $ 41.01 $ 2,044

Pension and Other Postretirem21

Pension and Other Postretirement Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Components of Net Periodic Cost (Benefit)	The following tables detail the components of net periodic cost (benefit) of our pension plans and other postretirement employee benefits (OPEB): Quarters Ended June 30, Pension OPEB (Dollars in thousands) 2015 2014 2015 2014 Service cost $ 1,531 $ 1,339 $ 4 $ (11 ) Interest cost 4,259 4,783 345 372 Expected return on plan assets (5,192 ) (6,126 ) — — Amortization of prior service cost (credit) 152 187 (2,328 ) (2,410 ) Amortization of actuarial loss 4,408 3,606 466 414 Net periodic cost (benefit) $ 5,158 $ 3,789 $ (1,513 ) $ (1,635 ) Six Months Ended June 30, Pension OPEB (Dollars in thousands) 2015 2014 2015 2014 Service cost $ 3,061 $ 2,540 $ 11 $ 12 Interest cost 8,518 9,592 728 871 Expected return on plan assets (10,383 ) (12,256 ) — — Amortization of prior service cost (credit) 303 374 (4,656 ) (4,820 ) Amortization of actuarial loss 8,816 7,226 1,024 1,093 Net periodic cost (benefit) $ 10,315 $ 7,476 $ (2,893 ) $ (2,844 )
Schedule of Accumulated Other Comprehensive Loss	The following tables detail the changes in accumulated other comprehensive loss (AOCL): Quarter Ended June 30, 2015 (Dollars in thousands) Pension OPEB Total AOCL at April 1 $ 116,691 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) $ (92 ) $ 1,420 1,328 Actuarial loss (2,689 ) (285 ) (2,974 ) Total reclassification for the period $ (2,781 ) $ 1,135 (1,646 ) AOCL at June 30 $ 115,045 Quarter Ended June 30, 2014 (Dollars in thousands) Pension OPEB Total AOCL at April 1 $ 97,454 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) $ (114 ) $ 1,470 1,356 Actuarial loss (2,200 ) (252 ) (2,452 ) Total reclassification for the period $ (2,314 ) $ 1,218 (1,096 ) AOCL at June 30 $ 96,358 Six Months Ended June 30, 2015 (Dollars in thousands) Pension OPEB Total AOCL at January 1 $ 118,392 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) $ (184 ) $ 2,840 2,656 Actuarial loss (5,378 ) (625 ) (6,003 ) Total reclassification for the period $ (5,562 ) $ 2,215 (3,347 ) AOCL at June 30 $ 115,045 Six Months Ended June 30, 2014 (Dollars in thousands) Pension OPEB Total AOCL at January 1 $ 98,720 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) $ (228 ) $ 2,940 2,712 Actuarial loss (4,408 ) (666 ) (5,074 ) Total reclassification for the period $ (4,636 ) $ 2,274 (2,362 ) AOCL at June 30 $ 96,358 1 Amortization of prior service credit (cost) and amortization of actuarial loss are included in the computation of net periodic cost (benefit).

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instrument Detail [Abstract]
Fair Value, by Balance Sheet Grouping	The following table presents the estimated fair values of our financial instruments: June 30, 2015 December 31, 2014 (Dollars in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Cash and short-term investments (Level 1) $ 10,614 $ 10,614 $ 31,012 $ 31,012 Revolving line of credit borrowings (Level 1) $ 15,000 $ 15,000 $ — $ — Derivative asset related to interest rate swaps (Level 2) $ 799 $ 799 $ 793 $ 793 Long-term debt, including fair value adjustments related to fair value hedges (Level 2) $ 629,259 $ 655,529 $ 629,343 $ 657,943 Company owned life insurance asset (COLI) (Level 3) $ 1,454 $ 1,454 $ 877 $ 877
Fair Values of Derivative Instruments	The following table presents the gross fair values of derivative instruments on our Condensed Consolidated Balance Sheets : (Dollars in thousands) Location June 30, December 31, Derivatives designated as hedging instruments: Interest rate contracts Current assets $ 233 $ 372 Interest rate contracts Non-current assets 566 421 Total derivatives designated as hedging instruments $ 799 $ 793
Effect of Derivatives on Consolidated Condensed Statements of Income	The following table details the effect of derivatives on our Consolidated Statements of Income : Gain Recognized in Income Location Quarter Ended Six Months Ended (Dollars in thousands) 2015 2014 2015 2014 Derivatives designated in fair value hedging relationships: Realized gain on interest rate contract 1 Interest expense $ 409 $ 247 $ 788 $ 501 Net gain recognized in income from fair value hedges $ 409 $ 247 $ 788 $ 501 1 Realized gain on hedging instrument consists of net cash settlements and interest accruals on the interest rate swaps during the periods. Net cash settlements are included in the supplemental cash flow information within interest, net of amounts capitalized in the Condensed Consolidated Statements of Cash Flows .

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting Information, Additional Information [Abstract]
Summary of Information by Business Segment	The following table summarizes information by business segment: Quarter Ended Six Months Ended (Dollars in thousands) 2015 2014 2015 2014 Revenues: Resource $ 44,111 $ 39,512 $ 98,066 $ 91,417 Wood Products 84,191 100,572 173,424 188,376 Real Estate 10,745 15,737 13,856 30,176 139,047 155,821 285,346 309,969 Elimination of intersegment revenues - Resource (10,300 ) (11,902 ) (22,474 ) (26,471 ) Total consolidated revenues $ 128,747 $ 143,919 $ 262,872 $ 283,498 Operating income (loss): Resource $ 8,797 $ 10,818 $ 23,775 $ 27,042 Wood Products (1,953 ) 14,870 1,547 27,577 Real Estate 8,521 12,378 10,120 20,649 Eliminations and adjustments 539 788 3,514 1,630 15,904 38,854 38,956 76,898 Corporate (8,593 ) (9,129 ) (17,618 ) (15,864 ) Operating income 7,311 29,725 21,338 61,034 Interest expense, net (8,016 ) (5,509 ) (16,085 ) (10,969 ) Income (loss) before income taxes $ (705 ) $ 24,216 $ 5,253 $ 50,065 Depreciation, depletion and amortization: 1 Resource $ 4,797 $ 2,728 $ 11,051 $ 6,644 Wood Products 1,661 1,515 3,237 3,044 Real Estate 15 14 30 29 6,473 4,257 14,318 9,717 Corporate 620 641 1,279 1,285 Total depreciation, depletion and amortization $ 7,093 $ 4,898 $ 15,597 $ 11,002 Basis of real estate sold: Real Estate $ 710 $ 2,242 $ 1,181 $ 7,409 Eliminations and adjustments (110 ) (30 ) (173 ) (575 ) Total basis of real estate sold $ 600 $ 2,212 $ 1,008 $ 6,834 1 The presentation of depreciation, depletion and amortization in Segment Information and the Condensed Consolidated Statements of Cash Flows includes amortization of bond discounts and deferred loan fees. Bond discounts and deferred loan fees are recorded in Interest expense, net in the Consolidated Statements of Income .

Earnings per Share (Reconciliat

Earnings per Share (Reconciliation Of Number Of Common Shares Used In Calculating Basic And Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings per Share [Line Items]
Net income	$ 711	$ 16,270	$ 6,367	$ 36,620
Basic weighted-average shares outstanding (in shares)	40,842,672	40,740,979	40,822,326	40,726,397
Diluted weighted-average shares outstanding (in shares)	40,963,488	40,850,253	40,932,852	40,833,041
Basic net income per share (in shares)	$ 0.02	$ 0.40	$ 0.16	$ 0.90
Diluted net income per share (in shares)	$ 0.02	$ 0.40	$ 0.16	$ 0.90
Total anti-dilutive shares excluded from the calculation (in shares)	1,000	13,691	80,726	38,776
Performance shares [Member]
Earnings per Share [Line Items]
Incremental shares (in shares)	100,915	82,013	92,130	77,139
Total anti-dilutive shares excluded from the calculation (in shares)	0	13,322	60,547	38,776
Restricted stock units [Member]
Earnings per Share [Line Items]
Incremental shares (in shares)	19,901	24,642	18,396	26,727
Total anti-dilutive shares excluded from the calculation (in shares)	1,000	369	20,179	0
Stock options [Member]
Earnings per Share [Line Items]
Incremental shares (in shares)	0	2,619	0	2,778

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Wood products finished goods inventory	$ 16,980	$ 17,286
Logs	16,670	7,930
Materials and supplies	7,474	6,274
Inventories, Total	$ 41,124	$ 31,490

Debt (Details)

Debt (Details) - USD ($)	Jun. 30, 2015	Aug. 12, 2014
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 15,000,000
Standby Letters of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	233,600,000
Letter of Credit [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 1,400,000
Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 250,000,000
Credit Agreement [Member] | Standby Letters of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		40,000,000
Credit Agreement [Member] | Swing Line Loan [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 25,000,000

Equity-Based Compensation (Narr

Equity-Based Compensation (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 5
Weighted average period (in years)	1 year 10 months 24 days
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 1.5
Weighted average period (in years)	1 year 9 months 18 days
Total fair value of RSU awards vested	$ 0.1
2005 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized		1.6
2014 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized		1
2005 and 2015 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized	1

Equity-Based Compensation (Deta

Equity-Based Compensation (Details Of Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee equity-based compensation expense	$ 1,182	$ 1,124	$ 2,259	$ 2,032
Actual tax benefit realized for tax deductions from equity-based plans	47	427	166	(14)
Director deferred compensation expense (income)	78	81	152	155
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee equity-based compensation expense	950	961	1,822	1,695
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee equity-based compensation expense	$ 232	$ 163	$ 437	$ 337

Equity-Based Compensation (Fair

Equity-Based Compensation (Fair Value Of Performance Share Awards) (Details) - Performance shares [Member] - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	78,974	87,441
Stock price as of valuation date (in dollars per share)	$ 40	$ 39.76
Risk-free rate	1.07%	0.72%
Fair value of a performance share (in dollars per share)	$ 36.71	$ 45.57

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary Of Outstanding Performance Share Awards / Restricted Stock Units) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested shares outstanding at January 1, Shares	160,233
Granted (in shares)	78,974	87,441
Unvested shares outstanding at June 30, Shares	239,207
Unvested shares outstanding at January 1, Weighted Avg. Grant Date Fair Value (in dollars per share)	$ 53.86
Granted, Weighted Av.g Exercise Price (in dollars per share)	36.71	$ 45.57
Unvested shares outstanding at June 30, Weighted Avg. Grant Date Fair Value (in dollars per share)	$ 48.20
Aggregate Intrinsic Value	$ 8,112
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested shares outstanding at January 1, Shares	32,455
Granted (in shares)	27,820
Vested (in shares)	(2,400)
Unvested shares outstanding at June 30, Shares	57,875
Unvested shares outstanding at January 1, Weighted Avg. Grant Date Fair Value (in dollars per share)	$ 42.24
Granted, Weighted Av.g Exercise Price (in dollars per share)	39.99
Vested, Weighted Avg. Grant Date Fair Value (in dollars per share)	45.79
Unvested shares outstanding at June 30, Weighted Avg. Grant Date Fair Value (in dollars per share)	$ 41.01
Aggregate Intrinsic Value	$ 2,044

Pension and Other Postretirem31

Pension and Other Postretirement Employee Benefits (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Non-Qualified Supplemental Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 0.9

Pension and Other Postretirem32

Pension and Other Postretirement Employee Benefits (Components Of Net Periodic Cost (Benefit)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,531	$ 1,339	$ 3,061	$ 2,540
Interest cost	4,259	4,783	8,518	9,592
Expected return on plan assets	(5,192)	(6,126)	(10,383)	(12,256)
Amortization of prior service cost (credit)	152	187	303	374
Amortization of actuarial loss	4,408	3,606	8,816	7,226
Net periodic cost (benefit)	5,158	3,789	10,315	7,476
Other Postretirement Employee Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	(11)	11	12
Interest cost	345	372	728	871
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	(2,328)	(2,410)	(4,656)	(4,820)
Amortization of actuarial loss	466	414	1,024	1,093
Net periodic cost (benefit)	$ (1,513)	$ (1,635)	$ (2,893)	$ (2,844)

Pension and Other Postretirem33

Pension and Other Postretirement Employee Benefits (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Loss [Roll Forward]
AOCL at beginning of period		$ 116,691	$ 97,454	$ 118,392	$ 98,720
Prior service cost (credit)	[1]	1,328	1,356	2,656	2,712
Actuarial loss	[1]	(2,974)	(2,452)	(6,003)	(5,074)
Total reclassification for the period	[1]	(1,646)	(1,096)	(3,347)	(2,362)
AOCL at end of period		115,045	96,358	115,045	96,358
Pension Plans [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Prior service cost (credit)	[1]	(92)	(114)	(184)	(228)
Actuarial loss	[1]	(2,689)	(2,200)	(5,378)	(4,408)
Total reclassification for the period	[1]	(2,781)	(2,314)	(5,562)	(4,636)
Other Postretirement Employee Benefits [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Prior service cost (credit)	[1]	1,420	1,470	2,840	2,940
Actuarial loss	[1]	(285)	(252)	(625)	(666)
Total reclassification for the period	[1]	$ 1,135	$ 1,218	$ 2,215	$ 2,274
[1]	Amortization of prior service credit (cost) and amortization of actuarial loss are included in the computation of net periodic cost (benefit).

Financial Instruments (Estimate

Financial Instruments (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Line of Credit, Carrying Amount	$ 15,000	$ 0
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and short-term investments, Carrying Amount	10,614	31,012
Cash and short-term investments, Fair Value	10,614	31,012
Line of Credit, Carrying Amount	15,000	0
Lines of Credit, Fair Value Disclosure	15,000	0
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current installments on long-term debt and fair value adjustments related to fair value hedges, Carrying Amount	629,259	629,343
Long-term debt, including current installments on long-term debt and fair value adjustments related to fair value hedges, Fair Value	655,529	657,943
Level 2 [Member] | Interest rate contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset related to interest rate swaps, Carrying Amount	799	793
Derivative asset related to interest rate swaps, Fair Value	799	793
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Life Insurance, Corporate or Bank Owned, Amount	$ 1,454	$ 877

Financial Instruments (Fair Val

Financial Instruments (Fair Values Of Derivative Instruments) (Details) - Derivatives designated as hedging instruments [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 799	$ 793
Other Current Assets [Member] | Interest rate contracts [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	233	372
Non-current assets [Member] | Interest rate contracts [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 566	$ 421

Financial Instruments (Effect O

Financial Instruments (Effect Of Derivatives On Consolidated Condensed Statements Of Operations And Comprehensive Income) (Details) - Derivatives designated as hedging instruments [Member] - Interest rate contracts [Member] - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) recognized in income		$ 409	$ 247	$ 788	$ 501
Interest expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain on hedging instrument	[1]	$ 409	$ 247	$ 788	$ 501
[1]	Realized gain on hedging instrument consists of net cash settlements and interest accruals on the interest rate swaps during the periods. Net cash settlements are included in the supplemental cash flow information within interest, net of amounts capitalized in the Condensed Consolidated Statements of Cash Flows.

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Corporate taxation of built-in gains, subjection term	10 years
Recognition period before January 1, 2011 modified by the Small Business Jobs Act of 2010	5 years
Reduced holding period for sales modified by the American Taxpayer Relief Act of 2012	5 years

Segment Information (Summary Of

Segment Information (Summary Of Information By Business Segment) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Segment Revenues		$ 128,747	$ 143,919	$ 262,872	$ 283,498
Operating Income		(705)	24,216	5,253	50,065
Operating Income (Loss)		7,311	29,725	21,338	61,034
Interest Expense		(8,016)	(5,509)	(16,085)	(10,969)
Depreciation, depletion and amortization	[1]	7,093	4,898	15,597	11,002
Basis of real estate sold		600	2,212	1,008	6,834
Operating Segments [Member]
Segment Reporting Information [Line Items]
Segment Revenues		139,047	155,821	285,346	309,969
Operating Income		15,904	38,854	38,956	76,898
Depreciation, depletion and amortization	[1]	6,473	4,257	14,318	9,717
Resource [Member]
Segment Reporting Information [Line Items]
Segment Revenues		44,111	39,512	98,066	91,417
Operating Income		8,797	10,818	23,775	27,042
Depreciation, depletion and amortization	[1]	4,797	2,728	11,051	6,644
Wood Products [Member]
Segment Reporting Information [Line Items]
Segment Revenues		84,191	100,572	173,424	188,376
Operating Income		(1,953)	14,870	1,547	27,577
Depreciation, depletion and amortization	[1]	1,661	1,515	3,237	3,044
Real Estate [Member]
Segment Reporting Information [Line Items]
Segment Revenues		10,745	15,737	13,856	30,176
Operating Income		8,521	12,378	10,120	20,649
Depreciation, depletion and amortization	[1]	15	14	30	29
Basis of real estate sold		710	2,242	1,181	7,409
Eliminations and Adjustments [Member]
Segment Reporting Information [Line Items]
Segment Revenues		(10,300)	(11,902)	(22,474)	(26,471)
Operating Income		539	788	3,514	1,630
Corporate [Member]
Segment Reporting Information [Line Items]
Operating Income		(8,593)	(9,129)	(17,618)	(15,864)
Depreciation, depletion and amortization	[1]	620	641	1,279	1,285
Basis of Real Estate Sold Eliminations and Adjustments [Member]
Segment Reporting Information [Line Items]
Basis of real estate sold		$ (110)	$ (30)	$ (173)	$ (575)
[1]	The presentation of depreciation, depletion and amortization in Segment Information and the Condensed Consolidated Statements of Cash Flows includes amortization of bond discounts and deferred loan fees. Bond discounts and deferred loan fees are recorded in Interest expense, net in the Consolidated Statements of Income.