PotlatchDeltic (PCH) 10-Q 24 Oct 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 19, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	PCH
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		40,610,865

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenues	$ 190,441	$ 174,027	$ 503,351	$ 443,418
Costs and expenses:
Cost of goods sold	124,971	122,132	349,310	345,324
Selling, general and administrative expenses	14,619	12,901	41,773	38,712
Environmental charges for Avery Landing	4,978		4,978	1,022
Loss (gain) on lumber price swap	2,080		(1,185)
Loss on sale of central Idaho timber and timberlands				48,522
Total costs and expenses	146,648	135,033	394,876	433,580
Operating income	43,793	38,994	108,475	9,838
Interest expense, net	(7,336)	(7,786)	(19,654)	(22,017)
Income (loss) before income taxes	36,457	31,208	88,821	(12,179)
Income tax (provision) benefit	(2,757)	(3,562)	(13,956)	8,744
Net income (loss)	$ 33,700	$ 27,646	$ 74,865	$ (3,435)
Net income (loss) per share:
Basic (in dollars per share)	$ 0.83	$ 0.68	$ 1.83	$ (0.08)
Diluted (in dollars per share)	0.82	0.68	1.82	(0.08)
Dividends per share (in dollars per share)	$ 0.375	$ 0.375	$ 1.125	$ 1.125
Weighted-average shares outstanding (in thousands):
Basic (in shares)	40,829,399	40,739,730	40,814,135	40,807,028
Diluted (in shares)	41,250,457	40,933,351	41,182,795	40,807,028

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)		$ 33,700	$ 27,646	$ 74,865	$ (3,435)
Other comprehensive income, net of tax:
Amortization of prior service credit included in net periodic cost, net of tax benefit of $(838), $(815), $(2,513) and $(2,445)	[1]	(1,309)	(1,275)	(3,929)	(3,824)
Amortization of actuarial loss included in net periodic cost, net of tax expense of $1,562, $1,760, $4,686 and $5,281	[1]	2,443	2,753	7,330	8,260
Cash flow hedge, net of tax of $0, $72, $(87) and $(297)			112	(137)	(465)
Other comprehensive income, net of tax		1,134	1,590	3,264	3,971
Comprehensive income		$ 34,834	$ 29,236	$ 78,129	$ 536
[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 Com4

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Amortization of prior service credit included in net periodic cost, tax benefit	$ (838)	$ (815)	$ (2,513)	$ (2,445)
Amortization of actuarial loss included in net periodic cost, tax expense	1,562	1,760	4,686	5,281
Cash flow hedge, tax effect	$ 0	$ 72	$ (87)	$ (297)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 116,803	$ 82,584
Receivables, net	23,461	17,284
Inventories	39,261	52,622
Other assets	8,820	11,155
Total current assets	188,345	163,645
Property, plant and equipment, net	76,138	72,820
Timber and timberlands, net	657,546	641,856
Deferred tax assets, net	40,889	42,051
Other assets	8,075	7,309
Total assets	970,993	927,681
Current liabilities:
Current portion of long-term debt	20,304	11,032
Accounts payable and accrued liabilities	60,741	43,710
Current portion of pension and other postretirement employee benefits	5,839	5,839
Total current liabilities	86,884	60,581
Long-term debt	559,019	572,956
Pension and other postretirement employee benefits	118,505	123,284
Other long-term obligations	15,395	14,586
Total liabilities	779,803	771,407
Commitments and contingencies
Stockholders' equity:
Common stock, $1 par value	40,611	40,519
Additional paid-in capital	357,736	355,274
Accumulated deficit	(99,677)	(128,775)
Accumulated other comprehensive loss	(107,480)	(110,744)
Total stockholders’ equity	191,190	156,274
Total liabilities and stockholders' equity	$ 970,993	$ 927,681

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Common stock, par value	$ 1	$ 1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 74,865	$ (3,435)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation, depletion and amortization	21,908	25,723
Basis of real estate sold	6,351	6,686
Change in deferred taxes	(925)	1,375
Pension and other postretirement employee benefits	9,863	11,743
Equity-based compensation expense	3,536	3,290
Loss on sale of central Idaho timber and timberlands		48,522
Other, net	(1,467)	(1,141)
Funding of qualified pension plans	(5,275)	(1,300)
Change in working capital and operating-related activities, net	20,489	(17,073)
Net cash from operating activities	129,345	74,390
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(9,445)	(4,262)
Timberlands reforestation and roads	(11,577)	(10,421)
Acquisition of timber and timberlands	(22,033)	(1,180)
Net proceeds from sale of central Idaho timber and timberlands		111,460
Other, net	(106)	525
Net cash from investing activities	(43,161)	96,122
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends to common stockholders	(45,686)	(45,647)
Repayment of revolving line of credit borrowings		(30,000)
Repayment of long-term debt	(5,000)	(113,335)
Proceeds from issuance of long-term debt		93,235
Repurchase of common stock		(5,956)
Other, net	(1,279)	(3,879)
Net cash from financing activities	(51,965)	(105,582)
Change in cash and cash equivalents	34,219	64,930
Cash and cash equivalents at beginning of period	82,584	7,925
Cash and cash equivalents at end of period	116,803	72,855
Cash paid (received) during the period for:
Interest, net of amounts capitalized	17,381	19,690
Income taxes, net	$ 13,923	$ (1,828)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	NOTE 1. 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, 2016, as filed with the Securities and Exchange Commission on February 17, 2017. 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. Certain 2016 amounts on the Condensed Consolidated Statements of Cash Flows within cash flows from operating activities have been reclassified to conform to the 2017 presentation. There is no change to previously reported net cash from operating, investing or financing activities.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	NOTE 2. RECENT ACCOUNTING PRONOUNCEMENTS In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Improvements to Employee Share-Based Payment Accounting In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers: Topic 606 Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share Basic Other Disclosures [Abstract]
Earnings per Share	NOTE 3. EARNINGS PER SHARE The following table reconciles the number of shares used in calculating basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands, except per share amounts) 2017 2016 2017 2016 Net income (loss) $ 33,700 $ 27,646 $ 74,865 $ (3,435 ) Basic weighted-average shares outstanding 40,829,399 40,739,730 40,814,135 40,807,028 Incremental shares due to: Performance shares 378,149 157,145 331,082 — Restricted stock units 42,909 36,476 37,578 — Diluted weighted-average shares outstanding 41,250,457 40,933,351 41,182,795 40,807,028 Basic net income (loss) per share $ 0.83 $ 0.68 $ 1.83 $ (0.08 ) Diluted net income (loss) per share $ 0.82 $ 0.68 $ 1.82 $ (0.08 ) For the three months ended September 30, 2017, there were no stock based awards that were anti-dilutive. For the nine months ended September 30, 2017, there were 167 stock-based awards that were excluded from the calculation of diluted earnings per share because they were anti-dilutive. For the three months ended September 30, 2016, there were 12,139 stock-based awards that were excluded from the calculation of diluted earnings per share because they were anti-dilutive. For the nine months ended September 30, 2016, no dilutive potential shares were included in the computation of diluted net income (loss) per share due to the net loss. Anti-dilutive stock-based awards could be dilutive in future periods.

Certain Balance Sheet Component

Certain Balance Sheet Components	9 Months Ended
	Sep. 30, 2017
Balance Sheet Related Disclosures [Abstract]
Certain Balance Sheet Components	NOTE 4. CERTAIN BALANCE SHEET COMPONENTS INVENTORIES (Dollars in thousands) September 30, 2017 December 31, 2016 Logs $ 9,957 $ 23,342 Lumber, plywood and veneer 20,484 20,500 Materials and supplies 8,820 8,780 Total inventories $ 39,261 $ 52,622 PROPERTY, PLANT AND EQUIPMENT (Dollars in thousands) September 30, 2017 December 31, 2016 Property, plant and equipment $ 258,086 $ 250,913 Less: accumulated depreciation (181,948 ) (178,093 ) Total property, plant and equipment, net $ 76,138 $ 72,820 TIMBER AND TIMBERLANDS (Dollars in thousands) September 30, 2017 December 31, 2016 Timber and timberlands $ 585,315 $ 572,273 Logging roads 72,231 69,583 Total timber and timberlands, net $ 657,546 $ 641,856 In the nine months ended September 30, 2017, we purchased approximately $22.0 million of timber and timberlands adjacent to our current operations in northern Idaho, Arkansas and Alabama. On April 21, 2016, we sold approximately 172,000 acres of timberlands located in central Idaho for $114 million. The company purchased the property in 2007 and 2008 for the purpose of growing and harvesting timber and selling rural recreation parcels. The sale freed up capital without having to wait for the rural recreation real estate market in central Idaho to recover. We recorded a loss of $48.5 million before taxes in our Real Estate segment in the second quarter of 2016. Historical earnings generated by the property were positive, but not material.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instrument Detail [Abstract]
Derivative Instruments	NOTE 5. DERIVATIVE INSTRUMENTS From time to time, we enter into derivative financial instruments to manage certain cash flow and fair value risks. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset or liability to a particular risk, such as interest rate risk, are considered fair value hedges. We have five fair value interest rate swaps to convert interest payments on fixed-rate debt to variable-rate 3-month LIBOR plus a spread. Derivatives designated and qualifying as a hedge of the exposure to variability in the cash flows of a specific asset or liability that is attributable to a particular risk, such as interest rate risk, are considered cash flow hedges. We have one interest rate swap to convert variable-rate debt, comprised of 3-month LIBOR plus a spread, to fixed-rate debt. Our cash flow hedge is expected to be highly effective in achieving offsetting cash flows attributable to the hedged interest rate risk through the term of the hedge. Therefore, changes in the fair value of the interest rate swap are recorded as a component of other comprehensive income and will be recognized in earnings when the hedged interest rate affects earnings. The amounts paid or received on this interest rate hedge will be recognized as adjustments to interest expense. As of September 30, 2017, the amount of net losses expected to be reclassified into earnings in the next 12 months is $0.1 million. Derivatives not designated as hedges are not speculative and are used to manage our exposure to interest rate movements, commodity price movements or other identified risks, but do not meet the strict hedge accounting requirements. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly into income. In April 2017, we entered into a lumber price swap to fix the price on a total of 36 million board feet (mmbf) of southern yellow pine with an effective date of July 1, 2017 and a termination date of December 31, 2017. Under the contract, cash settlement on 6 mmbf occurs monthly. The following table presents the gross fair values of derivative instruments on our Condensed Consolidated Balance Sheets Asset Derivatives Liability Derivatives (Dollars in thousands) Location September 30, 2017 December 31, 2016 Location September 30, 2017 December 31, 2016 Derivatives designated in fair value hedging relationships: Interest rate contracts Other assets, current $ 54 $ 32 $ — $ — Interest rate contracts Other assets, non-current — 215 Other long-term obligations 186 91 $ 54 $ 247 $ 186 $ 91 Derivatives designated in cash flow hedging relationships: Interest rate contracts Other assets, non-current $ 925 $ 1,148 $ — $ — Derivatives not designated as hedging instruments: Lumber price swap Other assets, current $ 199 $ — $ — $ — The following table details the effect of derivatives on our Consolidated Statements of Income (Loss) Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) Location 2017 2016 2017 2016 Derivatives designated in fair value hedging relationships: Interest rate contracts Realized gain on interest rate contracts 1 Interest expense $ 76 $ 186 $ 366 $ 642 Derivatives designated in cash flow hedging relationships: Interest rate contracts Gain (loss) recognized in other comprehensive income, net of tax (effective portion) $ (30 ) $ 36 $ (258 ) $ (618 ) Loss reclassified from accumulated other comprehensive income (effective portion) 1 Interest expense $ (30 ) $ (76 ) $ (121 ) $ (153 ) Derivatives not designated as hedging instruments: Lumber price contracts Realized gain on lumber price swap $ 986 $ — $ 986 $ — Unrealized gain (loss) on lumber price swap Gain (loss) on lumber price swap (3,067 ) — 199 — Net gain (loss) on lumber price contracts $ (2,081 ) $ — $ 1,185 $ — 1 Realized gain on hedging instruments consists of net cash settlements and interest accruals on the fair value 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 .

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instrument Detail [Abstract]
Financial Instruments	NOTE 6. FINANCIAL INSTRUMENTS The following table presents the estimated fair values of our financial instruments: September 30, 2017 December 31, 2016 (Dollars in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents (Level 1) $ 116,803 $ 116,803 $ 82,584 $ 82,584 Derivative assets related to interest rate swaps (Level 2) $ 979 $ 979 $ 1,395 $ 1,395 Derivative liabilities related to interest rate swaps (Level 2) $ (186 ) $ (186 ) $ (91 ) $ (91 ) Derivative asset related to lumber price swap (Level 2) $ 199 $ 199 $ — $ — Long-term debt, including current portion (Level 2): Term loans $ (349,500 ) $ (353,856 ) $ (349,500 ) $ (350,909 ) Senior notes (149,464 ) (163,500 ) (149,271 ) (164,250 ) Revenue bonds (65,735 ) (62,954 ) (65,735 ) (62,205 ) Medium-term notes (17,250 ) (18,476 ) (22,250 ) (23,926 ) Total long-term debt 1 $ (581,949 ) $ (598,786 ) $ (586,756 ) $ (601,290 ) Company owned life insurance asset (COLI) (Level 3) $ 1,642 $ 1,642 $ 70 $ 70 1 The carrying amount of long-term debt includes principal and unamortized discounts. For cash and cash equivalents and any revolving line of credit borrowings, the carrying amount approximates fair value due to the short-term nature of these financial instruments. The fair value of interest rate and lumber price swaps are determined using discounted cash flow analysis on 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 and commodity price forward curves. The fair value of our long-term debt is estimated based upon quoted market prices for similar debt issues or estimated based on average market prices for comparable debt when there is no quoted market price. The contract value of our COLI, the amount at which it could be redeemed, is used to estimate fair value because market prices are not readily available.

Pension and Other Postretiremen

Pension and Other Postretirement Employee Benefits	9 Months Ended
	Sep. 30, 2017
General Discussion Of Pension And Other Postretirement Benefits [Abstract]
Pension and Other Postretirement Employee Benefits	NOTE 7. 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): Three Months Ended September 30, Pension OPEB (Dollars in thousands) 2017 2016 2017 2016 Service cost $ 1,688 $ 1,627 $ 3 $ 3 Interest cost 4,024 4,255 316 355 Expected return on plan assets (4,601 ) (4,750 ) — — Amortization of prior service cost (credit) 72 130 (2,219 ) (2,220 ) Amortization of actuarial loss 3,621 4,083 384 430 Net periodic cost (benefit) $ 4,804 $ 5,345 $ (1,516 ) $ (1,432 ) Nine Months Ended September 30, Pension OPEB (Dollars in thousands) 2017 2016 2017 2016 Service cost $ 5,065 $ 4,881 $ 10 $ 10 Interest cost 12,072 12,765 947 1,065 Expected return on plan assets (13,805 ) (14,250 ) — — Amortization of prior service cost (credit) 216 389 (6,658 ) (6,658 ) Amortization of actuarial loss 10,863 12,253 1,153 1,288 Net periodic cost (benefit) $ 14,411 $ 16,038 $ (4,548 ) $ (4,295 ) During the nine months ended September 30, 2017 and 2016, we paid non-qualified supplemental pension benefits of $1.2 million and $1.3 million and OPEB benefits of $2.6 million and $2.6 million, respectively. During the nine months ended September 30, 2017 and 2016, we made voluntary contributions to our qualified pension plans of $5.3 million and $1.3 million, respectively. The following tables detail the pension and OPEB changes in accumulated other comprehensive loss on our Condensed Consolidated Balance Sheets Three Months Ended September 30, 2017 (Dollars in thousands) Pension OPEB Total Balance at June 30, 2017 $ 116,121 $ (6,943 ) $ 109,178 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) (44 ) 1,353 1,309 Actuarial loss (2,209 ) (234 ) (2,443 ) Total reclassification for the period (2,253 ) 1,119 (1,134 ) Balance at September 30, 2017 $ 113,868 $ (5,824 ) $ 108,044 Three Months Ended September 30, 2016 (Dollars in thousands) Pension OPEB Total Balance at June 30, 2016 $ 123,103 $ (11,558 ) $ 111,545 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) (79 ) 1,354 1,275 Actuarial loss (2,492 ) (261 ) (2,753 ) Total reclassification for the period (2,571 ) 1,093 (1,478 ) Balance at September 30, 2016 $ 120,532 $ (10,465 ) $ 110,067 Nine Months Ended September 30, 2017 (Dollars in thousands) Pension OPEB Total Balance at January 1, 2017 $ 120,627 $ (9,182 ) $ 111,445 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) (132 ) 4,061 3,929 Actuarial loss (6,627 ) (703 ) (7,330 ) Total reclassification for the period (6,759 ) 3,358 (3,401 ) Balance at September 30, 2017 $ 113,868 $ (5,824 ) $ 108,044 Nine Months Ended September 30, 2016 (Dollars in thousands) Pension OPEB Total Balance at January 1, 2016 $ 128,244 $ (13,741 ) $ 114,503 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) (237 ) 4,061 3,824 Actuarial loss (7,475 ) (785 ) (8,260 ) Total reclassification for the period (7,712 ) 3,276 (4,436 ) Balance at September 30, 2016 $ 120,532 $ (10,465 ) $ 110,067 1 Amortization of prior service credit (cost) and amortization of actuarial loss are included in the computation of net periodic cost (benefit).

Components of Accumulated Other

Components of Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Components of Accumulated Other Comprehensive Loss	NOTE 8. COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS The following table details the changes in our accumulated other comprehensive loss (AOCL) on our Condensed Consolidated Balance Sheets (Dollars in thousands) Gains and losses on cash flow hedge Pension and other postretirement employee benefits Total Balance at January 1, 2017 $ (701 ) $ 111,445 $ 110,744 Other comprehensive (income) loss before reclassifications 258 (3,401 ) (3,143 ) Amounts reclassified from AOCL (121 ) - (121 ) Net current period other comprehensive (income) loss 137 (3,401 ) (3,264 ) Balance at September 30, 2017 $ (564 ) $ 108,044 $ 107,480 Amounts in parenthesis indicate credits. See Note 5: Derivative Instruments Note 7: Pension and Other Postretirement Employee Benefits

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2017
Share Based Compensation [Abstract]
Equity-Based Compensation	NOTE 9. EQUITY-BASED COMPENSATION As of September 30, 2017, 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 September 30, 2017, approximately 1.0 million shares were authorized for future use. We issue new shares of common stock to settle performance shares, restricted stock units and deferred compensation stock equivalent units. The following table details equity-based compensation expense and the related income tax benefit: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2017 2016 2017 2016 Employee equity-based compensation expense: Performance shares $ 905 $ 866 $ 2,678 $ 2,571 Restricted stock units 283 248 858 719 Total employee equity-based compensation expense $ 1,188 $ 1,114 $ 3,536 $ 3,290 Deferred compensation stock equivalent units expense $ 166 $ 184 $ 488 $ 604 Total tax benefit recognized for share-based expense $ 95 $ 81 $ 284 $ 236 PERFORMANCE SHARES The following table presents the key inputs used in the Monte Carlo simulation to calculate the fair value of the performance share awards in 2017 and 2016: Nine Months Ended September 30, 2017 2016 Stock price as of valuation date $ 43.60 $ 25.92 Risk-free rate 1.61 % 0.88 % Expected volatility 24.22 % 23.82 % Expected dividends 3.44 % 5.79 % Expected term (years) 3.00 3.00 Fair value $ 53.85 $ 30.02 The following table summarizes outstanding performance share awards as of September 30, 2017, and changes during the nine months ended September 30, 2017: (Dollars in thousands, except grant date fair value) Shares Weighted-Avg. Grant Date Fair Value Aggregate Intrinsic Value Unvested shares outstanding at January 1, 2017 203,788 $ 32.59 Granted 78,033 $ 53.85 Forfeited (2,187 ) $ 39.15 Unvested shares outstanding at September 30, 2017 279,634 $ 38.47 $ 14,261 As of September 30, 2017, there was $4.9 million of unrecognized compensation cost related to unvested performance share awards, which is expected to be recognized over a weighted-average period of 1.3 years. RESTRICTED STOCK UNITS The following table summarizes outstanding RSU awards as of September 30, 2017, and changes during the nine months ended September 30, 2017: (Dollars in thousands, except grant date fair value) Shares Weighted-Avg. Grant Date Fair Value Aggregate Intrinsic Value Unvested shares outstanding at January 1, 2017 71,420 $ 31.61 Granted 26,507 $ 43.64 Vested (2,000 ) $ 32.85 Forfeited (728 ) $ 32.70 Unvested shares outstanding at September 30, 2017 95,199 $ 34.93 $ 4,855 The fair value of each RSU equaled our common share price on the date of grant. The total fair value of RSU awards that vested during the nine months ended September 30, 2017 was de minimis. As of September 30, 2017, there was $1.4 million of total unrecognized compensation cost related to unvested RSU awards, which is expected to be recognized over a weighted-average period of 1.2 years. DEFERRED COMPENSATION STOCK EQUIVALENT UNITS A long-term incentive award is granted annually to our directors and payable upon a director's separation from service. Directors may also elect to defer their quarterly retainers, which may be payable in the form of stock. All stock unit equivalent accounts are credited with dividend equivalents. As of September 30, 2017, there were 137,606 shares outstanding that will be distributed in the future to directors as common stock. Issuance of restricted stock units awarded to certain officers and select employees may also be deferred. All stock unit equivalent accounts are credited with dividend equivalents. As of September 30, 2017, there were 73,478 RSUs which had vested, but issuance of the related stock had been deferred.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10. 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 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 tax expense or benefit is primarily due to income or loss of the TRS, as well as permanent book versus tax differences.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 11. COMMITMENTS AND CONTINGENCIES In January 2007, the Environmental Protection Agency (EPA) notified us that we are a potentially responsible party under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) and the Clean Water Act for cleanup of a site known as Avery Landing in northern Idaho. We own a portion of the land at the Avery Landing site, which we acquired in 1980 from the Milwaukee Railroad. The land we own at the site and adjacent properties were contaminated with petroleum as a result of the Milwaukee Railroad's operations at the site prior to 1980. On July 5, 2011, the EPA issued an Action Memorandum for the Avery Landing Site selecting contaminant extraction and off-site disposal as the remedial alternative. On May 23, 2012, we signed a consent order with the EPA pursuant to which we agreed to provide $1.75 million in funding for EPA cleanup on a portion of our property (including the adjacent riverbank owned by the Idaho Department of Lands). The EPA cleanup was completed in October 2012. On April 4, 2013, the EPA issued a unilateral administrative order requiring us to remediate the portion of the Avery Landing site that we own. Our remediation was completed in October 2013. In 2016, the EPA confirmed that Potlatch had completed the cleanup and subsequent monitoring required by the unilateral order. On September 25, 2015, the EPA sent us a letter asserting that the EPA and the Department of Transportation (the current owner of a portion of the adjacent property remediated by the EPA) (DOT) had incurred $9.8 million in unreimbursed response costs associated with the site and that we were liable for such costs. We executed a tolling agreement with the EPA and DOT suspending the statute of limitations on the claim until September 2016 in order to facilitate negotiations of a final settlement and release. In September 2016, the parties agreed to extend the tolling agreement through October 6, 2016. The tolling agreement was further extended through February 22, 2017; in January 2017, Settlement negotiations continue. If settlement efforts prove to be unsuccessful, we believe we have meritorious defenses to this claim and we intend to defend ourselves vigorously. We accrued $0.2 million for this matter in the first quarter of 2016, an additional $0.8 million for this matter in the second quarter of 2016 and an additional $5.0 million in the third quarter of 2017. We have reserved all of our rights to seek reimbursement for the costs of remediation from all parties potentially responsible. We do not expect to make any further accruals in respect of this claim.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting Information Additional Information [Abstract]
Segment Information	NOTE 12. SEGMENT INFORMATION The following table summarizes information by business segment: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2017 2016 2017 2016 Revenues: Resource $ 94,705 $ 85,822 $ 202,397 $ 189,358 Wood Products 116,487 97,620 326,608 271,782 Real Estate 3,282 8,426 25,922 23,946 214,474 191,868 554,927 485,086 Intersegment Resource revenues 1 (24,033 ) (17,841 ) (51,576 ) (41,668 ) Total consolidated revenues $ 190,441 $ 174,027 $ 503,351 $ 443,418 Income (loss) before income taxes: Resource $ 41,796 $ 33,303 $ 76,245 $ 59,182 Wood Products 19,281 10,657 52,670 16,308 Real Estate 2 1,469 5,885 15,837 (35,469 ) Eliminations and adjustments (3,141 ) (1,946 ) (1,029 ) (1,450 ) 59,405 47,899 143,723 38,571 Corporate (15,612 ) (8,905 ) (35,248 ) (28,733 ) Operating income 43,793 38,994 108,475 9,838 Interest expense, net (7,336 ) (7,786 ) (19,654 ) (22,017 ) Income (loss) before income taxes $ 36,457 $ 31,208 $ 88,821 $ (12,179 ) Depreciation, depletion and amortization: Resource $ 6,207 $ 6,456 $ 14,865 $ 17,971 Wood Products 1,821 1,837 5,487 5,538 Real Estate — — 1 3 8,028 8,293 20,353 23,512 Corporate 168 187 443 608 Bond discounts and deferred loan fees 369 769 1,112 1,603 Total depreciation, depletion and amortization $ 8,565 $ 9,249 $ 21,908 $ 25,723 Basis of real estate sold: Real Estate $ 618 $ 1,364 $ 6,474 $ 7,118 Eliminations and adjustments (39 ) (99 ) (123 ) (432 ) Total basis of real estate sold $ 579 $ 1,265 $ 6,351 $ 6,686 1 Intersegment revenues are based on prevailing market prices of logs sold by our Resource segment to the Wood Products segment. 2 In the second quarter of 2016, we sold approximately 172,000 114 48.5

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Event	NOTE 13. SUBSEQUENT EVENT On October 22, 2017, Potlatch and Deltic Timber Corporation (Deltic) entered into an Agreement and Plan of Merger (“Merger Agreement”) pursuant to which Deltic will merge with and into a wholly-owned subsidiary of Potlatch. The combined company will be named PotlatchDeltic Corporation. Under the terms of the Merger Agreement, Deltic shareholders will receive 1.80 shares of Potlatch common shares for each share of Deltic common stock at the closing date. Deltic owns approximately 530,000 acres of timberland, operates two sawmills and a medium density fiberboard plant and is engaged in real estate development primarily in Arkansas and north Louisiana. Because the exchange ratio was fixed at the time of the merger agreement and the market value of our common stock will continue to fluctuate, the total value of the consideration exchanged will not be determinable until the closing date. The number of shares to be issued with respect to Deltic stock awards will not be determinable until the closing of the transaction. We have estimated the total consideration expected to be issued to Deltic shareholders in the merger to be approximately 22 million shares of our common stock based on the 1.80 exchange ratio and the number of shares of Deltic common stock issued and outstanding as of October 20, 2017. Subsequent to the completion of the transaction, as part of the REIT conversion process, Deltic’s earnings and profits will be distributed to shareholders of the combined company through a dividend consisting of 80% stock and 20% cash. The merger agreement has been approved by both companies' board of directors. The closing of the merger is subject to approval by the shareholders of Deltic and Potlatch, receipt of certain regulatory approvals and other conditions specified in the merger agreement. The merger is expected to close in the first half of 2018. In addition, on October 22, 2017, Potlatch’s Board of Directors authorized an increase to the annual dividend from $1.50 per share to $1.60 per share, or $0.40 per share on a quarterly basis, commencing December 29, 2017.

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share Basic Other Disclosures [Abstract]
Reconciliation of Number of Common Shares Used in Calculating Basic and Diluted EPS	The following table reconciles the number of shares used in calculating basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands, except per share amounts) 2017 2016 2017 2016 Net income (loss) $ 33,700 $ 27,646 $ 74,865 $ (3,435 ) Basic weighted-average shares outstanding 40,829,399 40,739,730 40,814,135 40,807,028 Incremental shares due to: Performance shares 378,149 157,145 331,082 — Restricted stock units 42,909 36,476 37,578 — Diluted weighted-average shares outstanding 41,250,457 40,933,351 41,182,795 40,807,028 Basic net income (loss) per share $ 0.83 $ 0.68 $ 1.83 $ (0.08 ) Diluted net income (loss) per share $ 0.82 $ 0.68 $ 1.82 $ (0.08 )

Certain Balance Sheet Compone22

Certain Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2017
Balance Sheet Related Disclosures [Abstract]
Schedule of Inventories	(Dollars in thousands) September 30, 2017 December 31, 2016 Logs $ 9,957 $ 23,342 Lumber, plywood and veneer 20,484 20,500 Materials and supplies 8,820 8,780 Total inventories $ 39,261 $ 52,622
Schedule of Property, Plant and Equipment	(Dollars in thousands) September 30, 2017 December 31, 2016 Property, plant and equipment $ 258,086 $ 250,913 Less: accumulated depreciation (181,948 ) (178,093 ) Total property, plant and equipment, net $ 76,138 $ 72,820
Schedule of Timber and Timberlands	(Dollars in thousands) September 30, 2017 December 31, 2016 Timber and timberlands $ 585,315 $ 572,273 Logging roads 72,231 69,583 Total timber and timberlands, net $ 657,546 $ 641,856

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instrument Detail [Abstract]
Fair Values of Derivative Instruments	The following table presents the gross fair values of derivative instruments on our Condensed Consolidated Balance Sheets Asset Derivatives Liability Derivatives (Dollars in thousands) Location September 30, 2017 December 31, 2016 Location September 30, 2017 December 31, 2016 Derivatives designated in fair value hedging relationships: Interest rate contracts Other assets, current $ 54 $ 32 $ — $ — Interest rate contracts Other assets, non-current — 215 Other long-term obligations 186 91 $ 54 $ 247 $ 186 $ 91 Derivatives designated in cash flow hedging relationships: Interest rate contracts Other assets, non-current $ 925 $ 1,148 $ — $ — Derivatives not designated as hedging instruments: Lumber price swap Other assets, current $ 199 $ — $ — $ —
Effect of Derivatives on Consolidated Statements of Income (Loss)	The following table details the effect of derivatives on our Consolidated Statements of Income (Loss) Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) Location 2017 2016 2017 2016 Derivatives designated in fair value hedging relationships: Interest rate contracts Realized gain on interest rate contracts 1 Interest expense $ 76 $ 186 $ 366 $ 642 Derivatives designated in cash flow hedging relationships: Interest rate contracts Gain (loss) recognized in other comprehensive income, net of tax (effective portion) $ (30 ) $ 36 $ (258 ) $ (618 ) Loss reclassified from accumulated other comprehensive income (effective portion) 1 Interest expense $ (30 ) $ (76 ) $ (121 ) $ (153 ) Derivatives not designated as hedging instruments: Lumber price contracts Realized gain on lumber price swap $ 986 $ — $ 986 $ — Unrealized gain (loss) on lumber price swap Gain (loss) on lumber price swap (3,067 ) — 199 — Net gain (loss) on lumber price contracts $ (2,081 ) $ — $ 1,185 $ — 1 Realized gain on hedging instruments consists of net cash settlements and interest accruals on the fair value 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 .

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instrument Detail [Abstract]
Estimated Fair Value of Financial Instruments	The following table presents the estimated fair values of our financial instruments: September 30, 2017 December 31, 2016 (Dollars in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents (Level 1) $ 116,803 $ 116,803 $ 82,584 $ 82,584 Derivative assets related to interest rate swaps (Level 2) $ 979 $ 979 $ 1,395 $ 1,395 Derivative liabilities related to interest rate swaps (Level 2) $ (186 ) $ (186 ) $ (91 ) $ (91 ) Derivative asset related to lumber price swap (Level 2) $ 199 $ 199 $ — $ — Long-term debt, including current portion (Level 2): Term loans $ (349,500 ) $ (353,856 ) $ (349,500 ) $ (350,909 ) Senior notes (149,464 ) (163,500 ) (149,271 ) (164,250 ) Revenue bonds (65,735 ) (62,954 ) (65,735 ) (62,205 ) Medium-term notes (17,250 ) (18,476 ) (22,250 ) (23,926 ) Total long-term debt 1 $ (581,949 ) $ (598,786 ) $ (586,756 ) $ (601,290 ) Company owned life insurance asset (COLI) (Level 3) $ 1,642 $ 1,642 $ 70 $ 70 1 The carrying amount of long-term debt includes principal and unamortized discounts.

Pension and Other Postretirem25

Pension and Other Postretirement Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2017
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): Three Months Ended September 30, Pension OPEB (Dollars in thousands) 2017 2016 2017 2016 Service cost $ 1,688 $ 1,627 $ 3 $ 3 Interest cost 4,024 4,255 316 355 Expected return on plan assets (4,601 ) (4,750 ) — — Amortization of prior service cost (credit) 72 130 (2,219 ) (2,220 ) Amortization of actuarial loss 3,621 4,083 384 430 Net periodic cost (benefit) $ 4,804 $ 5,345 $ (1,516 ) $ (1,432 ) Nine Months Ended September 30, Pension OPEB (Dollars in thousands) 2017 2016 2017 2016 Service cost $ 5,065 $ 4,881 $ 10 $ 10 Interest cost 12,072 12,765 947 1,065 Expected return on plan assets (13,805 ) (14,250 ) — — Amortization of prior service cost (credit) 216 389 (6,658 ) (6,658 ) Amortization of actuarial loss 10,863 12,253 1,153 1,288 Net periodic cost (benefit) $ 14,411 $ 16,038 $ (4,548 ) $ (4,295 )
Schedule of Accumulated Other Comprehensive Loss (AOCL)	The following tables detail the pension and OPEB changes in accumulated other comprehensive loss on our Condensed Consolidated Balance Sheets Three Months Ended September 30, 2017 (Dollars in thousands) Pension OPEB Total Balance at June 30, 2017 $ 116,121 $ (6,943 ) $ 109,178 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) (44 ) 1,353 1,309 Actuarial loss (2,209 ) (234 ) (2,443 ) Total reclassification for the period (2,253 ) 1,119 (1,134 ) Balance at September 30, 2017 $ 113,868 $ (5,824 ) $ 108,044 Three Months Ended September 30, 2016 (Dollars in thousands) Pension OPEB Total Balance at June 30, 2016 $ 123,103 $ (11,558 ) $ 111,545 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) (79 ) 1,354 1,275 Actuarial loss (2,492 ) (261 ) (2,753 ) Total reclassification for the period (2,571 ) 1,093 (1,478 ) Balance at September 30, 2016 $ 120,532 $ (10,465 ) $ 110,067 Nine Months Ended September 30, 2017 (Dollars in thousands) Pension OPEB Total Balance at January 1, 2017 $ 120,627 $ (9,182 ) $ 111,445 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) (132 ) 4,061 3,929 Actuarial loss (6,627 ) (703 ) (7,330 ) Total reclassification for the period (6,759 ) 3,358 (3,401 ) Balance at September 30, 2017 $ 113,868 $ (5,824 ) $ 108,044 Nine Months Ended September 30, 2016 (Dollars in thousands) Pension OPEB Total Balance at January 1, 2016 $ 128,244 $ (13,741 ) $ 114,503 Amortization of defined benefit items, net of tax: 1 Prior service credit (cost) (237 ) 4,061 3,824 Actuarial loss (7,475 ) (785 ) (8,260 ) Total reclassification for the period (7,712 ) 3,276 (4,436 ) Balance at September 30, 2016 $ 120,532 $ (10,465 ) $ 110,067 1 Amortization of prior service credit (cost) and amortization of actuarial loss are included in the computation of net periodic cost (benefit).

Components of Accumulated Oth26

Components of Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	The following table details the changes in our accumulated other comprehensive loss (AOCL) on our Condensed Consolidated Balance Sheets (Dollars in thousands) Gains and losses on cash flow hedge Pension and other postretirement employee benefits Total Balance at January 1, 2017 $ (701 ) $ 111,445 $ 110,744 Other comprehensive (income) loss before reclassifications 258 (3,401 ) (3,143 ) Amounts reclassified from AOCL (121 ) - (121 ) Net current period other comprehensive (income) loss 137 (3,401 ) (3,264 ) Balance at September 30, 2017 $ (564 ) $ 108,044 $ 107,480

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Share Based Compensation [Abstract]
Details of Equity-Based Compensation Expense	The following table details equity-based compensation expense and the related income tax benefit: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2017 2016 2017 2016 Employee equity-based compensation expense: Performance shares $ 905 $ 866 $ 2,678 $ 2,571 Restricted stock units 283 248 858 719 Total employee equity-based compensation expense $ 1,188 $ 1,114 $ 3,536 $ 3,290 Deferred compensation stock equivalent units expense $ 166 $ 184 $ 488 $ 604 Total tax benefit recognized for share-based expense $ 95 $ 81 $ 284 $ 236
Fair Value of Performance Share Awards	The following table presents the key inputs used in the Monte Carlo simulation to calculate the fair value of the performance share awards in 2017 and 2016: Nine Months Ended September 30, 2017 2016 Stock price as of valuation date $ 43.60 $ 25.92 Risk-free rate 1.61 % 0.88 % Expected volatility 24.22 % 23.82 % Expected dividends 3.44 % 5.79 % Expected term (years) 3.00 3.00 Fair value $ 53.85 $ 30.02
Summary of Outstanding Performance Share Awards	The following table summarizes outstanding performance share awards as of September 30, 2017, and changes during the nine months ended September 30, 2017: (Dollars in thousands, except grant date fair value) Shares Weighted-Avg. Grant Date Fair Value Aggregate Intrinsic Value Unvested shares outstanding at January 1, 2017 203,788 $ 32.59 Granted 78,033 $ 53.85 Forfeited (2,187 ) $ 39.15 Unvested shares outstanding at September 30, 2017 279,634 $ 38.47 $ 14,261
Summary of Outstanding RSU Awards	The following table summarizes outstanding RSU awards as of September 30, 2017, and changes during the nine months ended September 30, 2017: (Dollars in thousands, except grant date fair value) Shares Weighted-Avg. Grant Date Fair Value Aggregate Intrinsic Value Unvested shares outstanding at January 1, 2017 71,420 $ 31.61 Granted 26,507 $ 43.64 Vested (2,000 ) $ 32.85 Forfeited (728 ) $ 32.70 Unvested shares outstanding at September 30, 2017 95,199 $ 34.93 $ 4,855

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting Information Additional Information [Abstract]
Summary of Information by Business Segment	Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2017 2016 2017 2016 Revenues: Resource $ 94,705 $ 85,822 $ 202,397 $ 189,358 Wood Products 116,487 97,620 326,608 271,782 Real Estate 3,282 8,426 25,922 23,946 214,474 191,868 554,927 485,086 Intersegment Resource revenues 1 (24,033 ) (17,841 ) (51,576 ) (41,668 ) Total consolidated revenues $ 190,441 $ 174,027 $ 503,351 $ 443,418 Income (loss) before income taxes: Resource $ 41,796 $ 33,303 $ 76,245 $ 59,182 Wood Products 19,281 10,657 52,670 16,308 Real Estate 2 1,469 5,885 15,837 (35,469 ) Eliminations and adjustments (3,141 ) (1,946 ) (1,029 ) (1,450 ) 59,405 47,899 143,723 38,571 Corporate (15,612 ) (8,905 ) (35,248 ) (28,733 ) Operating income 43,793 38,994 108,475 9,838 Interest expense, net (7,336 ) (7,786 ) (19,654 ) (22,017 ) Income (loss) before income taxes $ 36,457 $ 31,208 $ 88,821 $ (12,179 ) Depreciation, depletion and amortization: Resource $ 6,207 $ 6,456 $ 14,865 $ 17,971 Wood Products 1,821 1,837 5,487 5,538 Real Estate — — 1 3 8,028 8,293 20,353 23,512 Corporate 168 187 443 608 Bond discounts and deferred loan fees 369 769 1,112 1,603 Total depreciation, depletion and amortization $ 8,565 $ 9,249 $ 21,908 $ 25,723 Basis of real estate sold: Real Estate $ 618 $ 1,364 $ 6,474 $ 7,118 Eliminations and adjustments (39 ) (99 ) (123 ) (432 ) Total basis of real estate sold $ 579 $ 1,265 $ 6,351 $ 6,686 1 Intersegment revenues are based on prevailing market prices of logs sold by our Resource segment to the Wood Products segment. 2 In the second quarter of 2016, we sold approximately 172,000 114 48.5

Recent Accounting Pronounceme29

Recent Accounting Pronouncements (Narrative) (Details) - Pension and Other Postretirement Employee Benefit [Member] $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Net periodic pension and other postretirement employee benefit cost	$ 15.7
Service cost	$ 6.5

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings per Share [Line Items]
Net income (loss)	$ 33,700	$ 27,646	$ 74,865	$ (3,435)
Basic weighted-average shares outstanding	40,829,399	40,739,730	40,814,135	40,807,028
Diluted weighted-average shares outstanding	41,250,457	40,933,351	41,182,795	40,807,028
Basic net income (loss) per share	$ 0.83	$ 0.68	$ 1.83	$ (0.08)
Diluted net income (loss) per share	$ 0.82	$ 0.68	$ 1.82	$ (0.08)
Performance shares [Member]
Earnings per Share [Line Items]
Incremental shares	378,149	157,145	331,082
Restricted stock units [Member]
Earnings per Share [Line Items]
Incremental shares	42,909	36,476	37,578

Earnings per Share (Narrative)

Earnings per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Total anti-dilutive shares excluded from the calculation (in shares)	0		167
Number of dilutive potential shares included in computation of diluted net income (loss) per share		0		0

Certain Balance Sheet Compone32

Certain Balance Sheet Components (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Logs	$ 9,957	$ 23,342
Lumber, plywood and veneer	20,484	20,500
Materials and supplies	8,820	8,780
Total inventories	$ 39,261	$ 52,622

Certain Balance Sheet Compone33

Certain Balance Sheet Components (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property Plant And Equipment [Abstract]
Property, plant and equipment	$ 258,086	$ 250,913
Less: accumulated depreciation	(181,948)	(178,093)
Total property, plant and equipment, net	$ 76,138	$ 72,820

Certain Balance Sheet Compone34

Certain Balance Sheet Components (Schedule of Timber and Timberlands) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Timber And Timberlands [Abstract]
Timber and timberlands	$ 585,315	$ 572,273
Logging roads	72,231	69,583
Total timber and timberlands, net	$ 657,546	$ 641,856

Certain Balance Sheet Compone35

Certain Balance Sheet Components (Narrative) (Details) $ in Thousands	Apr. 21, 2016USD ($)a	Jun. 30, 2016USD ($)a	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Timber And Timberlands [Line Items]
Purchase of timber and timberlands			$ 22,033	$ 1,180
Acres sold through timberland sale | a	172,000	172,000
Land Sales	$ 114,000	$ 114,000
Real Estate [Member]
Timber And Timberlands [Line Items]
Net loss		$ 48,500

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) $ in Millions	1 Months Ended	9 Months Ended
	Apr. 30, 2017MMcf	Sep. 30, 2017USD ($)Derivative
Derivatives, Fair Value [Line Items]
Net losses expected to be reclassified into earnings in the next twelve months | $		$ 0.1
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Number of interest rate swap agreements | Derivative		5
Interest Rate Swaps [Member] | Cash Flow Hedging [Member]
Derivatives, Fair Value [Line Items]
Number of interest rate swap agreements | Derivative		1
Commodity Contract [Member] | Swap [Member] | Derivatives not designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Volume of southern yellow pine in lumber price swap | MMcf	3
Commodity swap contract, effective date		Jul. 1, 2017
Commodity swap contract, termination date		Dec. 31, 2017
Volume of southern yellow pine for which monthly cash settlement occur | MMcf	0.5

Derivative Instruments (Fair Va

Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Designated as Hedging Instrument | Fair Value Hedging [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	$ 54	$ 247
Liability Derivatives, Fair Value	186	91
Designated as Hedging Instrument | Fair Value Hedging [Member] | Interest rate contracts [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	54	32
Designated as Hedging Instrument | Fair Value Hedging [Member] | Interest rate contracts [Member] | Other Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value		215
Designated as Hedging Instrument | Fair Value Hedging [Member] | Interest rate contracts [Member] | Other Long-term Obligations [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value	186	91
Designated as Hedging Instrument | Cash Flow Hedging [Member] | Interest rate contracts [Member] | Other Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	925	$ 1,148
Derivatives not designated as Hedging Instrument [Member] | Lumber Price Contracts [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	$ 199

Derivative Instruments (Effect

Derivative Instruments (Effect of Derivatives on Consolidated Statements of Income (Loss)) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Designated as Hedging Instrument | Fair Value Hedging [Member] | Interest rate contracts [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain on interest rate contracts	[1]	$ 76	$ 186	$ 366	$ 642
Designated as Hedging Instrument | Cash Flow Hedging [Member] | Interest rate contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income, net of tax (effective portion)		(30)	36	(258)	(618)
Designated as Hedging Instrument | Cash Flow Hedging [Member] | Interest rate contracts [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from accumulated other comprehensive income (effective portion)	[1]	(30)	$ (76)	(121)	$ (153)
Derivatives not designated as Hedging Instrument [Member] | Lumber Price Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain on lumber price swap		986		986
Net gain (loss) on lumber price contracts		(2,081)		1,185
Derivatives not designated as Hedging Instrument [Member] | Lumber Price Contracts [Member] | Gain On Lumber Hedge
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on lumber price swap		$ (3,067)		$ 199
[1]	Realized gain on hedging instruments consists of net cash settlements and interest accruals on the fair value 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

Financial Instruments (Estimate

Financial Instruments (Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Carrying Amount [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents		$ 116,803	$ 82,584
Carrying Amount [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion	[1]	(581,949)	(586,756)
Carrying Amount [Member] | Level 2 [Member] | Interest rate contracts [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative assets		979	1,395
Derivative liabilities related to interest rate swaps		(186)	(91)
Carrying Amount [Member] | Level 2 [Member] | Lumber Price Contracts [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative assets		199
Carrying Amount [Member] | Level 2 [Member] | Term Loans [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion		(349,500)	(349,500)
Carrying Amount [Member] | Level 2 [Member] | Senior notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion		(149,464)	(149,271)
Carrying Amount [Member] | Level 2 [Member] | Revenue bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion		(65,735)	(65,735)
Carrying Amount [Member] | Level 2 [Member] | Medium-term notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion		(17,250)	(22,250)
Carrying Amount [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Company owned life insurance asset (COLI)		1,642	70
Fair Value [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents		116,803	82,584
Fair Value [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion	[1]	(598,786)	(601,290)
Fair Value [Member] | Level 2 [Member] | Interest rate contracts [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative assets		979	1,395
Derivative liabilities related to interest rate swaps		(186)	(91)
Fair Value [Member] | Level 2 [Member] | Lumber Price Contracts [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative assets		199
Fair Value [Member] | Level 2 [Member] | Term Loans [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion		(353,856)	(350,909)
Fair Value [Member] | Level 2 [Member] | Senior notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion		(163,500)	(164,250)
Fair Value [Member] | Level 2 [Member] | Revenue bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion		(62,954)	(62,205)
Fair Value [Member] | Level 2 [Member] | Medium-term notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt, including current portion		(18,476)	(23,926)
Fair Value [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Company owned life insurance asset (COLI)		$ 1,642	$ 70
[1]	The carrying amount of long-term debt includes principal and unamortized discounts.

Pension and Other Postretirem40

Pension and Other Postretirement Employee Benefits (Components Of Net Periodic Cost (Benefit)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,688	$ 1,627	$ 5,065	$ 4,881
Interest cost	4,024	4,255	12,072	12,765
Expected return on plan assets	(4,601)	(4,750)	(13,805)	(14,250)
Amortization of prior service cost (credit)	72	130	216	389
Amortization of actuarial loss	3,621	4,083	10,863	12,253
Net periodic cost (benefit)	4,804	5,345	14,411	16,038
Other Postretirement Employee Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3	10	10
Interest cost	316	355	947	1,065
Amortization of prior service cost (credit)	(2,219)	(2,220)	(6,658)	(6,658)
Amortization of actuarial loss	384	430	1,153	1,288
Net periodic cost (benefit)	$ (1,516)	$ (1,432)	$ (4,548)	$ (4,295)

Pension and Other Postretirem41

Pension and Other Postretirement Employee Benefits (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Other Postretirement Benefits Payments	$ 2.6	$ 2.6
Non-Qualified Supplemental Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions	1.2	1.3
Voluntary Contributions to Qualified Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 5.3	$ 1.3

Pension and Other Postretirem42

Pension and Other Postretirement Employee Benefits (Change in Accumulated Other Comprehensive Loss (AOCL) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income [Roll Forward]
AOCI at beginning of period		$ 109,178	$ 111,545	$ 111,445	$ 114,503
Prior service credit (cost)	[1]	1,309	1,275	3,929	3,824
Actuarial loss	[1]	(2,443)	(2,753)	(7,330)	(8,260)
Total reclassification for the period	[1]	(1,134)	(1,478)	(3,401)	(4,436)
AOCI at end of period		108,044	110,067	108,044	110,067
Pension Plans [Member]
Accumulated Other Comprehensive Income [Roll Forward]
AOCI at beginning of period		116,121	123,103	120,627	128,244
Prior service credit (cost)	[1]	(44)	(79)	(132)	(237)
Actuarial loss	[1]	(2,209)	(2,492)	(6,627)	(7,475)
Total reclassification for the period	[1]	(2,253)	(2,571)	(6,759)	(7,712)
AOCI at end of period		113,868	120,532	113,868	120,532
Other Postretirement Employee Benefits [Member]
Accumulated Other Comprehensive Income [Roll Forward]
AOCI at beginning of period		(6,943)	(11,558)	(9,182)	(13,741)
Prior service credit (cost)	[1]	1,353	1,354	4,061	4,061
Actuarial loss	[1]	(234)	(261)	(703)	(785)
Total reclassification for the period	[1]	1,119	1,093	3,358	3,276
AOCI at end of period		$ (5,824)	$ (10,465)	$ (5,824)	$ (10,465)
[1]	Amortization of prior service credit (cost) and amortization of actuarial loss are included in the computation of net periodic cost (benefit).

Components of Accumulated Oth43

Components of Accumulated Other Comprehensive Loss (Changes in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at January 1, 2017			$ (156,274)
Other comprehensive (income) loss before reclassifications			(3,143)
Amounts reclassified from AOCL			(121)
Net current period other comprehensive (income) loss	$ (1,134)	$ (1,590)	(3,264)	$ (3,971)
Balance at September 30, 2017	(191,190)		(191,190)
Gains and losses on cash flow hedge [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at January 1, 2017			(701)
Other comprehensive (income) loss before reclassifications			258
Amounts reclassified from AOCL			(121)
Net current period other comprehensive (income) loss			137
Balance at September 30, 2017	(564)		(564)
Pension and other postretirement employee benefits [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at January 1, 2017			111,445
Other comprehensive (income) loss before reclassifications			(3,401)
Net current period other comprehensive (income) loss			(3,401)
Balance at September 30, 2017	108,044		108,044
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at January 1, 2017			110,744
Balance at September 30, 2017	$ 107,480		$ 107,480

Equity-Based Compensation (Narr

Equity-Based Compensation (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock Unit, Vested, Issuance Deferred	73,478
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares reserved for future issuance	137,606
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 4.9
Weighted average period (in years)	1 year 3 months 19 days
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 1.4
Weighted average period (in years)	1 year 2 months 13 days
2005 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized	1,600,000
2014 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized	1,000,000
2005 and 2014 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized	1,000,000

Equity-Based Compensation (Deta

Equity-Based Compensation (Details Of Equity-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee equity-based compensation expense	$ 1,188	$ 1,114	$ 3,536	$ 3,290
Deferred compensation stock equivalent units expense	166	184	488	604
Total tax benefit recognized for share-based expense	95	81	284	236
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee equity-based compensation expense	905	866	2,678	2,571
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee equity-based compensation expense	$ 283	$ 248	$ 858	$ 719

Equity-Based Compensation (Fair

Equity-Based Compensation (Fair Value of Performance Share Awards) (Details) - Performance Shares [Member] - $ / shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price as of valuation date (in dollars per share)	$ 43.60	$ 25.92
Risk-free rate	1.61%	0.88%
Expected volatility	24.22%	23.82%
Expected dividends	3.44%	5.79%
Expected term (years)	3 years	3 years
Fair value	$ 53.85	$ 30.02

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary Of Outstanding Performance Shares/Restricted Stock Units) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
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	203,788
Granted (in shares)	78,033
Forfeited (in shares)	(2,187)
Unvested shares outstanding at September 30, Shares	279,634
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested shares outstanding at January 1, Weighted Avg. Grant Date Fair Value (in dollars per share)	$ 32.59
Granted, Weighted Avg. Exercise Price (in dollars per share)	53.85	$ 30.02
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share)	39.15
Unvested shares outstanding at September 30, Weighted Avg. Grant Date Fair Value (in dollars per share)	$ 38.47
Aggregate Intrinsic Value	$ 14,261
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	71,420
Granted (in shares)	26,507
Vested (in shares)	(2,000)
Forfeited (in shares)	(728)
Unvested shares outstanding at September 30, Shares	95,199
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested shares outstanding at January 1, Weighted Avg. Grant Date Fair Value (in dollars per share)	$ 31.61
Granted, Weighted Avg. Exercise Price (in dollars per share)	43.64
Vested, Weighted Avg. Grant Date Fair Value (in dollars per share)	32.85
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share)	32.70
Unvested shares outstanding at September 30, Weighted Avg. Grant Date Fair Value (in dollars per share)	$ 34.93
Aggregate Intrinsic Value	$ 4,855

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 25, 2015	May 23, 2012	Sep. 30, 2017	Jun. 30, 2016	Mar. 31, 2016
Site Contingency [Line Items]
Loss Contingency Accrual, Payments		$ 1,750
Loss Contingency, Damages Sought, Value	$ 9,800
Loss Contingency Accrual			$ 5,000	$ 800	$ 200
Extended tolling agreement for final settlement and release			Dec. 31, 2017

Segment Information (Summary Of

Segment Information (Summary Of Information By Business Segment) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Segment Revenues		$ 190,441	$ 174,027	$ 503,351	$ 443,418
Operating income		43,793	38,994	108,475	9,838
Interest expense, net		(7,336)	(7,786)	(19,654)	(22,017)
Income (loss) before income taxes		36,457	31,208	88,821	(12,179)
Depreciation, depletion and amortization		8,565	9,249	21,908	25,723
Bond discounts and deferred loan fees		369	769	1,112	1,603
Basis of real estate sold		579	1,265	6,351	6,686
Operating Segments [Member]
Segment Reporting Information [Line Items]
Segment Revenues		214,474	191,868	554,927	485,086
Operating income		59,405	47,899	143,723	38,571
Depreciation, depletion and amortization		8,028	8,293	20,353	23,512
Operating Segments [Member] | Resource [Member]
Segment Reporting Information [Line Items]
Segment Revenues		94,705	85,822	202,397	189,358
Operating income		41,796	33,303	76,245	59,182
Depreciation, depletion and amortization		6,207	6,456	14,865	17,971
Operating Segments [Member] | Wood Products [Member]
Segment Reporting Information [Line Items]
Segment Revenues		116,487	97,620	326,608	271,782
Operating income		19,281	10,657	52,670	16,308
Depreciation, depletion and amortization		1,821	1,837	5,487	5,538
Operating Segments [Member] | Real Estate [Member]
Segment Reporting Information [Line Items]
Segment Revenues		3,282	8,426	25,922	23,946
Operating income	[1]	1,469	5,885	15,837	(35,469)
Depreciation, depletion and amortization				1	3
Basis of real estate sold		618	1,364	6,474	7,118
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Segment Revenues	[2]	(24,033)	(17,841)	(51,576)	(41,668)
Operating income		(3,141)	(1,946)	(1,029)	(1,450)
Basis of real estate sold		(39)	(99)	(123)	(432)
Corporate [Member]
Segment Reporting Information [Line Items]
Operating income		(15,612)	(8,905)	(35,248)	(28,733)
Depreciation, depletion and amortization		$ 168	$ 187	$ 443	$ 608
[1]	In the second quarter of 2016, we sold approximately 172,000 acres of timberlands located in central Idaho for $114 million at a loss of $48.5 million before taxes.
[2]	Intersegment revenues are based on prevailing market prices of logs sold by our Resource segment to the Wood Products segment.

Segment Information (Summary 50

Segment Information (Summary Of Information By Business Segment) (Parenthetical) (Details) $ in Millions	Apr. 21, 2016USD ($)a	Jun. 30, 2016USD ($)a
Segment Reporting Information [Line Items]
Acres sold through timberland sale | a	172,000	172,000
Land Sales	$ 114	$ 114
Real Estate [Member]
Segment Reporting Information [Line Items]
Net loss		48.5
Operating Segments [Member] | Real Estate [Member]
Segment Reporting Information [Line Items]
Net loss		$ 48.5

Subsequent Event (Narrative) (D

Subsequent Event (Narrative) (Details) shares in Millions	Oct. 22, 2017a$ / shares	Oct. 20, 2017$ / sharesshares	Sep. 30, 2017$ / shares
Subsequent Event [Line Items]
Annual dividend per share			$ 1.50
Subsequent Event [Member]
Subsequent Event [Line Items]
Date of merger agreement	Oct. 22, 2017
Annual dividend per share	$ 1.60
Quarterly dividend per share	$ 0.40
Dividends payable date of commencement	Dec. 29, 2017
Deltic [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Business acquisition, share price	$ 1.80	$ 1.80
Acres of timberland | a	530,000
Estimated total consideration expected to be issued | shares		22
Earnings and profits dividend rate percentage of stock	80.00%
Earnings and profits dividend rate percentage of cash	20.00%