CatchMark Timber Trust (CTT) 10-K 7 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Feb. 29, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	CatchMark Timber Trust, Inc.
Entity Central Index Key	1,341,141
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		38,800,917
Entity Public Float			$ 453
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets:
Cash and cash equivalents	$ 8,025	$ 17,365
Accounts receivable	2,562	798
Prepaid expenses and other assets	3,277	2,781
Deferred financing costs, less accumulated amortization of $123 and $39 as of December 31, 2015 and 2014, respectively	354	418
Timber assets (Note 3):
Timber and timberlands, net	584,854	543,101
Intangible lease assets, less accumulated amortization of $934 and $931 as of December 31, 2015 and 2014, respectively	23	26
Total assets	599,095	564,489
Liabilities:
Accounts payable and accrued expenses	3,307	2,359
Other liabilities	3,703	3,265
Note payable and line of credit, less net deferred financing costs (Note 4)	181,047	114,173
Total liabilities	188,057	119,797
Commitments and Contingencies (Note 6)	0	0
Stockholders’ Equity:
Additional paid-in capital	607,409	612,518
Accumulated deficit and distributions	(195,341)	(167,364)
Accumulated other comprehensive loss	(1,420)	(856)
Total stockholders’ equity	411,038	444,692
Total liabilities and stockholders’ equity	599,095	564,489
Common Class A
Stockholders’ Equity:
Common stock, $0.01 par value	390	362
Common Class B-3
Stockholders’ Equity:
Common stock, $0.01 par value	$ 0	$ 32

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred financing cost, accumulated amortization	$ 123	$ 39
Intangible lease assets, accumulated amortization	$ 934	$ 931
Common stock, par value	$ 0.01
Common stock, shares authorized	900,000,000
Common stock, shares outstanding	38,975,000
Common Class A
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	900,000,000	896,500,000
Common stock, shares issued	38,975,000	36,193,000
Common stock, shares outstanding	38,975,000	36,193,000
Common Class B-3
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	0	3,500,000
Common stock, shares issued	0	3,164,000
Common stock, shares outstanding	0	3,164,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Timber sales	$ 52,837	$ 40,635	$ 26,703
Timberland sales	11,845	10,650	2,499
Other revenues	4,440	3,026	2,846
Total revenues	69,122	54,311	32,048
Expenses:
Contract logging and hauling costs	19,911	17,322	13,606
Depletion	27,091	14,788	8,505
Cost of timberland sales	9,747	5,558	1,754
Forestry management expenses	4,495	3,567	2,769
General and administrative expenses	7,667	6,185	10,201
Land rent expense	736	831	1,043
Other operating expenses	4,295	2,942	2,772
Operating costs and expenses	73,942	51,193	40,650
Operating income (loss)	(4,820)	3,118	(8,602)
Other income (expense):
Interest income	6	177	3
Interest expense	(3,573)	(2,635)	(4,705)
Gain (loss) on interest rate swap	0	0	107
Total other income (expense)	(3,567)	(2,458)	(4,595)
Net income (loss)	(8,387)	660	(13,197)
Dividends to preferred stockholder	0	0	(360)
Net income (loss) available to common stockholders	$ (8,387)	$ 660	$ (13,557)
Per-share information—basic and diluted:
Weighted-average common shares outstanding —basic and diluted (in shares)	39,348	31,568	13,146
Basic and diluted net income (loss) per share available to common stockholders	$ (0.21)	$ 0.02	$ (1.03)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (8,387)	$ 660	$ (13,197)
Other comprehensive income (loss):
Market value adjustment to interest rate swap	(564)	(1,125)	957
Comprehensive loss	$ (8,951)	$ (465)	$ (12,240)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Preferred Stock	Additional Paid-in Capital	Accumulated Deficit and Distributions	Accumulated Other Comprehensive Income (Loss)	Common Class ACommon Stock	Common Class BCommon Stock
Stockholders' equity, beginning of year (in shares) at Dec. 31, 2012		37,000				3,180,000	9,540,000
Stockholders' equity, beginning of year at Dec. 31, 2012	$ 210,087,000	$ 48,600,000	$ 301,539,000	$ (139,491,000)	$ (688,000)	$ 32,000	$ 95,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock (in shares)						10,526,000	0
Issuance of common stock	142,105,000		142,000,000			$ 105,000	$ 0
Restricted stock grants, net of amounts withheld for income taxes (in shares)						191,000	1,000
Long-term incentive plan, net of amounts withheld for income taxes	1,212,000		1,210,000			$ 2,000	$ 0
Forfeiture of restricted stock award (in shares)						0	(1,000)
Forfeiture of restricted stock award	0		0	0		$ 0	$ 0
Fractional share conversion (in shares)						18,000	(18,000)
Conversion to Class A Shares						$ 0	$ 0
Redemption of common stocks (in shares)						(15,000)	(29,000)
Proceeds from issuance of common stock	142,105,000
Redemptions of common stock	(680,000)		(680,000)			$ 0	$ 0
Dividends on preferred stock	0	$ 360,000	(360,000)
Redemptions of preferred stock (in shares)		(37,000)
Redemptions of preferred stock	(48,960,000)	$ (48,960,000)
Other offering costs	(11,592,000)		(11,592,000)
Net income (loss)	(13,197,000)			(13,197,000)
Other comprehensive income (loss)	957,000				957,000
Stockholders' equity, end of year (in shares) at Dec. 31, 2013		0				13,900,000	9,493,000
Stockholders' equity, end of year at Dec. 31, 2013	279,932,000	$ 0	432,117,000	(152,688,000)	269,000	$ 139,000	$ 95,000
Dividends on common stock (in USD per share)	0.47
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock (in shares)						15,954,000
Issuance of common stock	190,222,000		190,062,000			$ 160,000
Restricted stock grants, net of amounts withheld for income taxes (in shares)						10,000
Long-term incentive plan, net of amounts withheld for income taxes	381,000		381,000			$ 0
Fractional share conversion (in shares)						6,329,000	(6,329,000)
Conversion to Class A Shares						$ 63,000	$ (63,000)
Proceeds from issuance of common stock	190,222,000
Dividends on common stock	(15,336,000)			(15,336,000)
Other offering costs	(10,042,000)		(10,042,000)
Net income (loss)	660,000			660,000
Other comprehensive income (loss)	(1,125,000)				(1,125,000)
Stockholders' equity, end of year (in shares) at Dec. 31, 2014		0				36,193,000	3,164,000
Stockholders' equity, end of year at Dec. 31, 2014	444,692,000	$ 0	612,518,000	(167,364,000)	(856,000)	$ 362,000	$ 32,000
Dividends on common stock (in USD per share)	0.50
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock grants, net of amounts withheld for income taxes (in shares)						202,000
Long-term incentive plan, net of amounts withheld for income taxes	891,000		889,000			$ 2,000
Fractional share conversion (in shares)						3,164,000	(3,164,000)
Conversion to Class A Shares						$ 32,000	$ (32,000)
Proceeds from issuance of common stock	0
Dividends on common stock	$ (19,590,000)			19,590,000
Redemptions of preferred stock (in shares)	(584,356)					584,000
Redemptions of preferred stock	$ 6,004,000		5,998,000			$ 6,000
Net income (loss)	(8,387,000)			(8,387,000)
Other comprehensive income (loss)	(564,000)				(564,000)
Stockholders' equity, end of year (in shares) at Dec. 31, 2015		0				38,975,000	0
Stockholders' equity, end of year at Dec. 31, 2015	$ 411,038,000	$ 0	$ 607,409,000	$ (195,341,000)	$ (1,420,000)	$ 390,000	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities:
Net income (loss)	$ (8,387)	$ 660	$ (13,197)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depletion	27,091	14,788	8,505
Basis of timberland sold	8,886	5,072	1,570
Noncash interest expense	648	738	1,332
Stock-based compensation expense	889	418	1,838
Other amortization	117	98	156
Unrealized gain on interest rate swaps	0	0	(129)
Changes in assets and liabilities:
Accounts receivable	(1,764)	(204)	64
Prepaid expenses and other assets	187	619	(1,144)
Accounts payable and accrued expenses	985	(998)	1,395
Due to affiliates	0	0	(1,326)
Other liabilities	(158)	(1,346)	(135)
Net cash provided by (used in) operating activities	28,494	19,845	(1,071)
Cash Flows from Investing Activities:
Capital expenditures (excluding timberland acquisitions)	(2,668)	(906)	(444)
Timberland acquisitions	(75,793)	(237,527)	(1,743)
Funds released from escrow accounts	0	0	2,050
Net cash used in investing activities	(78,461)	(238,433)	(137)
Cash Flows from Financing Activities:
Proceeds from notes payable	67,500	320,750	0
Repayment of notes payable	(498)	(254,910)	(80,196)
Financing costs paid	(781)	(3,302)	(1,494)
Issuance of common stock	0	190,222	142,105
Dividends paid to common stockholders	(19,590)	(15,336)	0
Repurchase of common stock	(6,004)	(43)	(582)
Redemptions of common stock	0	0	(680)
Redemptions of preferred stock	0	0	(37,392)
Dividends paid on preferred stock redeemed	0	0	(11,568)
Other offering costs paid	0	(10,042)	(11,592)
Net cash provided by (used in) financing activities	40,627	227,339	(1,399)
Net increase (decrease) in cash and cash equivalents	(9,340)	8,751	(2,607)
Cash and cash equivalents, beginning of period	17,365	8,614	11,221
Cash and cash equivalents, end of period	$ 8,025	$ 17,365	$ 8,614

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization CatchMark Timber Trust , Inc. (" CatchMark Timber Trust ") (NYSE: CTT), a Maryland corporation, primarily engages in the ownership, management, acquisition, and disposition of timberlands located in the southeastern United States and has elected to be taxed as a real estate investment trust ("REIT") for federal income tax purposes. CatchMark Timber Trust incorporated in 2005 and commenced operations in 2007. CatchMark Timber Trust conducts substantially all of its business through CatchMark Timber Operating Partnership, L.P. (“ CatchMark Timber OP ”), a Delaware limited partnership. CatchMark Timber Trust is the general partner of CatchMark Timber OP , possesses full legal control and authority over its operations, and owns 99.99% of its common partnership units. CatchMark LP Holder, LLC (“ CatchMark LP Holder ”), a wholly-owned subsidiary of CatchMark Timber Trust formed in 2013, is the sole limited partner of CatchMark Timber OP (see Note 7 – Noncontrolling Interest for more information). In addition, CatchMark Timber TRS, Inc. (“CatchMark TRS”) was formed as a wholly owned subsidiary of CatchMark Timber OP . Unless otherwise noted, references herein to CatchMark Timber Trust shall include CatchMark Timber Trust and all of its subsidiaries, including CatchMark Timber OP , and the subsidiaries of CatchMark Timber OP , including CatchMark TRS.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The consolidated financial statements of CatchMark Timber Trust have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and shall include the accounts of any variable interest entity (“VIE”) in which CatchMark Timber Trust or its subsidiaries is deemed the primary beneficiary. With respect to entities that are not VIEs, CatchMark Timber Trust ’s consolidated financial statements shall also include the accounts of any entity in which CatchMark Timber Trust or its subsidiaries owns a controlling financial interest and any limited partnership in which CatchMark Timber Trust or its subsidiaries owns a controlling general partnership interest. In determining whether a controlling interest exists, CatchMark Timber Trust considers, among other factors, the ownership of voting interests, protective rights, and participatory rights of the investors. CatchMark Timber Trust owns a controlling financial interest in CatchMark Timber OP , CatchMark LP Holder and CatchMark TRS and, accordingly, includes the accounts of these entities in its consolidated financial statements. The financial statements of CatchMark Timber OP , CatchMark LP Holder and CatchMark TRS are prepared using accounting policies consistent with those used by CatchMark Timber Trust . All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes. Actual results could differ from those estimates. Fair Value Measurements CatchMark Timber Trust estimates the fair value of its assets and liabilities (where currently required under GAAP) consistent with the provisions of the accounting standard for fair value measurements and disclosures. Under this guidance, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. While various techniques and assumptions can be used to estimate fair value depending on the nature of the asset or liability, the accounting standard for fair value measurements and disclosures provides the following fair value technique parameters and hierarchy, depending upon availability: Level 1 — Assets or liabilities for which the identical term is traded on an active exchange, such as publicly-traded instruments or futures contracts. Level 2 — Assets and liabilities valued based on observable market data for similar instruments. Level 3 — Assets or liabilities for which significant valuation assumptions are not readily observable in the market. Such assets or liabilities are valued based on the best available data, some of which may be internally developed. Significant assumptions may include risk premiums that a market participant would require. Cash and Cash Equivalents CatchMark Timber Trust considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value and may consist of investments in money market accounts. Accounts Receivable Accounts receivable are recorded at the original amount earned, net of allowances for doubtful accounts, which approximates fair value. Accounts receivable are deemed past due based on their respective payment terms. Management assesses the realizability of accounts receivable on an ongoing basis and provides for allowances as such balances, or portions thereof, become uncollectible. As of December 31, 2015 , 2014 , and 2013 , no allowances have been provided against accounts receivable. As of December 31, 2015 , CatchMark Timber Trust has recorded $1.3 million of estimated patronage refunds due from CoBank, ACB (“CoBank”) as accounts receivable (please refer to Note 4 – Note Payable and Line of Credit for further information regarding patronage refunds) . Prepaid Expenses and Other Assets Prepaid expenses and other assets are primarily comprised of prepaid rent, insurance, and operating costs, equipment and furniture, net of accumulated depreciation, and deferred costs associated with pending acquisitions. Prepaid expenses are expensed as incurred or reclassified to other asset accounts upon being put into service in future periods. Balances without future economic benefit are written off as they are identified. Deferred Financing Costs Deferred financing costs are comprised of costs incurred in connection with securing financing from third-party lenders and are capitalized and amortized on a straight-line basis (which approximates the effective interest rate method) over the terms of the related financing arrangements. For the year ended December 31, 2015 , CatchMark Timber Trust has elected to early adopt Accounting Standards Update 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03") and Accounting Standards Update 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements ("ASU 2015-15"). Under ASU 2015-03, CatchMark Timber Trust has presented the deferred financing costs relating to its outstanding debt on the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of as an asset. Under ASU 2015-15, CatchMark Timber Trust has presented deferred financing costs associated with its line of credit agreement, which may not have an outstanding balance at times, as an asset on the accompanying consolidated balance sheets. ASU 2015-03 and ASU 2015-15 were applied on a retrospective basis and represent a change in accounting principle. The following financial statement line items for the year ended December 31, 2014 were effected by the change in accounting principle: (in thousands) Consolidated Balance Sheet December 31, 2014 As Reported As Adjusted Effect of Change Deferred financing costs, less accumulated amortization $ 4,245 $ 418 $ (3,827 ) Note payable and line of credit, less net unamortized deferred financing costs $ 118,000 $ 114,173 $ (3,827 ) For further information regarding our credit agreements, outstanding balance of debt and associated deferred financing costs, please refer to Note 4 – Note Payable and Line of Credit . CatchMark Timber Trust recognized amortization of deferred financing costs for the years ended December 31, 2015 , 2014 , and 2013 of approximately $0.6 million , $0.7 million , and $1.3 million , respectively, which is included in interest expense in the accompanying consolidated statements of operations. Timber Assets Timber and timberlands, including logging roads, are stated at cost less accumulated depletion for timber harvested and accumulated road amortization. CatchMark Timber Trust capitalizes timber and timberland purchases. Reforestation costs, including all costs associated with stand establishment, such as site preparation, cost of seedlings, fertilization, and herbicide application, are capitalized and amortized over their estimated useful lives. Timber carrying costs, such as real estate taxes, insect control, wildlife control, leases of timberlands, and forestry management personnel salaries and fringe benefits, are expensed as incurred. Costs of major roads are capitalized and amortized over their estimated useful lives. Costs of roads built to access multiple logging sites over numerous years are capitalized and amortized over seven years. Costs of roads built to access a single logging site are expensed as incurred. Depletion CatchMark Timber Trust recognizes depletion expense as timber is harvested. Prior to January 1, 2015, depletion rates for timber held longer than 12 months were determined annually using the normalized depletion method by dividing (a) the sum of (i) net carrying value of merchantable and premerchantable timber, and (ii) projected approved reforestation costs to be capitalized over the remaining harvest cycle, by (b) the estimated merchantable timber volume expected to be harvested over the same period. The projected future harvest volume was derived by using a specialized modeling software based on the specific management regime adopted and a set of scientific formulas. Significant management judgments were involved to develop estimates of future harvest volumes and future reforestation costs. For each fee timber tract owned less than one year, depletion rates are generally determined by dividing the acquisition cost attributable to its timber by the volume of timber acquired. Effective January 1, 2015, CatchMark Timber Trust changed the depletion method on its long-term timber to the straight-line method. Straight-line depletion rates are established at least annually by dividing the remaining merchantable inventory book value by current standing timber inventory volume. Management believes the change from the normalized depletion method to the straight-line depletion method is preferable as the straight-line method is based on the actual costs recorded and volumes of timber that are merchantable as of the date that the depletion rates are determined. It is less reliant on subjective and complex estimates as it does not include future costs to be incurred or expected timber growth. In accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 250, CatchMark Timber Trust determined that the change in depletion method is a change in accounting estimate effected by a change in accounting principle, and accordingly, the straight-line method was applied on a prospective basis, effective January 1, 2015. If CatchMark Timber Trust had continued using the normalized depletion method, depletion expense for the year ended December 31, 2015 would have been $4.5 million , or $0.11 per share, lower than the depletion expense it recorded using the straight-line depletion method. Evaluating the Recoverability of Timber Assets CatchMark Timber Trust continually monitors events and changes in circumstances that could indicate that the carrying amounts of the timber assets in which CatchMark Timber Trust has an ownership interest may not be recoverable. When indicators of potential impairment are present that suggest that the carrying amounts of timber assets may not be recoverable, CatchMark Timber Trust assesses the recoverability of these assets by determining whether the carrying value will be recovered through the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. Impairment losses would be recognized for (i) long-lived assets used in CatchMark Timber Trust ’s operations when the carrying value of such assets exceeds the undiscounted cash flows estimated to be generated from the future operations of those assets, and (ii) long-lived assets held for sale when the carrying value of such assets exceeds an amount equal to their fair value less selling costs. Estimated fair values are calculated based on the following information in order of preference, dependent upon availability: (i) recently quoted market prices, (ii) market prices for comparable properties, or (iii) the present value of undiscounted cash flows, including estimated salvage value. CatchMark Timber Trust intends to use one harvest cycle for the purpose of evaluating the recoverability of timber and timberlands used in its operations. Future cash flow estimates are based on discounted probability-weighted projections for a range of possible outcomes. CatchMark Timber Trust considers assets to be held for sale at the point at which a sale contract is executed and the buyer has made a non-refundable earnest money deposit against the contracted purchase price. CatchMark Timber Trust has determined that there has been no impairment of its long-lived assets to date. Allocation of Purchase Price of Acquired Assets Upon the acquisition of timberland properties, CatchMark Timber Trust allocates the purchase price to tangible assets, consisting of timberland and timber, and identified intangible assets and liabilities, which may include values associated with in-place leases or supply agreements, based in each case on management’s estimate of their fair values. The values of tangible assets are then allocated to timberland and timber based on management’s determination of the relative fair value of these assets. Intangible Lease Assets In-place ground leases with CatchMark Timber Trust as the lessee have value associated with effective contractual rental rates that are below market rates. Such values are calculated based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place lease and (ii) management’s estimate of fair market lease rates for the corresponding in-place lease, measured over a period equal to the remaining terms of the leases. The capitalized below-market in-place lease values are recorded as intangible lease assets and are amortized as adjustments to land rent expense over the weighted-average remaining term of the respective leases. Fair Value of Debt Instruments CatchMark Timber Trust applied the provisions of the accounting standard for fair value measurements and disclosures in estimations of fair value of its debt instruments based on Level 2 assumptions. The fair value of the outstanding note payable was estimated based on discounted cash flow analysis using the current observable market borrowing rates for similar types of borrowing arrangements as of the measurement date. The discounted cash flow method of assessing fair value results in a general approximation of book value, and such value may never actually be realized. Preferred Stock The proceeds from issued and outstanding shares of preferred stock and dividends payable on preferred stock were recorded as preferred stock. Common Stock The par value of CatchMark Timber Trust ’s issued and outstanding shares of common stock is recorded as common stock. The remaining gross proceeds, net of offering costs, are recorded as additional paid-in capital. Interest Rate Swaps CatchMark Timber Trust has entered into interest rate swap contracts to mitigate its exposure to changing interest rates on variable rate debt instruments. CatchMark Timber Trust does not enter into derivative or interest rate transactions for speculative purposes; however, certain of its derivatives may not qualify for hedge accounting treatment. The fair values of interest rate swaps are recorded as either prepaid expenses and other assets or other liabilities in the accompanying consolidated balance sheets. Changes in the fair value of the effective portion of interest rate swaps that are designated as hedges are recorded as other comprehensive income (loss), while changes in the fair value of the ineffective portion of hedges, if any, are recognized in current earnings. Changes in the fair value of interest rate swaps that do not qualify for hedge accounting treatment are recorded as gain (loss) on interest rate swap in the consolidated statements of operations. Amounts received or paid under interest rate swaps are recorded as interest expense for contracts that qualify for hedge accounting treatment and as gain (loss) on interest rate swaps for contracts that do not qualify for hedge accounting treatment. CatchMark Timber Trust applied the provisions of the accounting standard for fair value measurements and disclosures in recording its interest rate swap at fair value. The fair value of the interest rate swap, classified under Level 2, was determined using a third-party proprietary model that is based on prevailing market data for contracts with matching durations, current and anticipated London Interbank Offered Rate ("LIBOR") information, consideration of CatchMark Timber Trust 's credit standing, credit risk of counterparties, and reasonable estimates about relevant future market conditions. Revenue Recognition Revenue from the sale of timber is recognized when the following criteria are met: (i) persuasive evidence of an agreement exists, (ii) legal ownership and the risk of loss are transferred to the purchaser, (iii) price and quantity are determinable, and (iv) collectibility is reasonably assured. CatchMark Timber Trust ’s primary sources of revenue are recognized as follows: (1) For delivered sales contracts, which include amounts sufficient to cover costs of logging and hauling of timber, revenues are recognized upon delivery to the customer. (2) For pay-as-cut contracts, the purchaser acquires the right to harvest specified timber on a tract, at an agreed-upon price per unit. Payments and contract advances are recognized as revenue as the timber is harvested based on the contracted sale rate per unit. (3) Revenues from the sale of HBU and nonstrategic timberlands are recognized when title passes and full payment or a minimum down payment is received and full collectibility is assured. If a down payment of less than the minimum down payment is received at closing, CatchMark Timber Trust will record revenue based on the installment method. (4) For recreational leases, rental income collected in advance is recorded as other liabilities in the accompanying consolidated balance sheets until earned over the term of the respective recreational lease and recognized as other revenue. In addition to the sources of revenue noted above, CatchMark Timber Trust also may enter into lump-sum sale contracts, whereby the purchaser generally pays the purchase price upon execution of the contract. Title to the timber and risk of loss transfers to the buyer at the time the contract is consummated. Revenues are recognized upon receipt of the purchase price. When the contract expires, ownership of the remaining standing timber reverts to CatchMark Timber Trust ; however, adjustments are not made to the revenues previously recognized. Stock-based Compensation CatchMark Timber Trust has issued stock-based compensation in the form of stock options and restricted stock to its directors and employees pursuant to its Long-Term Incentive Plan. Restricted stock awards issued are considered equity awards and are recorded as a reduction to additional paid-in capital upon issuance. The fair value of stock options and restricted stock is recognized over the respective weighted-average vesting periods by charging expense and recording additional paid-in capital. For those awards with performance conditions, expense is only recorded if it is deemed probable that the performance condition will be achieved. Stock-based compensation expense in the accompanying consolidated statements of operations is recorded as forestry management expenses for those employees whose job is related to forest operations and as general and administrative expense for all other employees and directors. See Note 9 – Stock Based Compensation for a description of CatchMark Timber Trust’s Long-Term Incentive Plan. Earnings Per Share Basic earnings (loss) per share available to common stockholders is calculated as net income (loss) available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Net income (loss) available to common stockholders is calculated as net income (loss) less dividends payable to or accumulated to preferred stockholders. Diluted earnings (loss) per share available to common stockholders equals basic earnings per share available to common stockholders, adjusted to reflect the dilution that would occur if all outstanding securities convertible into common shares or contracts to issue common shares were converted or exercised and the related proceeds are then used to repurchase common shares. Basic and diluted earnings (loss) per share were the same for all periods presented as the dilutive effect of outstanding securities was immaterial. Income Taxes CatchMark Timber Trust has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), and has operated as such beginning with its taxable year ended December 31, 2009. To qualify to be taxed as a REIT, CatchMark Timber Trust must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income to its stockholders. As a REIT, CatchMark Timber Trust generally is not subject to federal income tax on taxable income it distributes to stockholders. If CatchMark Timber Trust fails to qualify as a REIT in any taxable year, it will then be subject to federal and state income taxes on its taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants CatchMark Timber Trust relief under certain statutory provisions. CatchMark Timber Trust has elected to treat CatchMark TRS as a taxable REIT subsidiary. CatchMark Timber Trust may perform certain non-customary services, including real estate or non-real-estate related services, through CatchMark TRS . Earnings from services performed through CatchMark TRS are subject to federal and state income taxes irrespective of the dividends paid deduction available to REITs for federal income tax purposes. In addition, for CatchMark Timber Trust to continue to qualify to be taxed as a REIT, CatchMark Timber Trust ’s investment in CatchMark TRS and any other TRSs may not exceed 25% ( 20% after 2017) of the value of the total assets of CatchMark Timber Trust . Deferred tax assets and liabilities represent temporary differences between the financial reporting basis and the tax basis of assets and liabilities based on the enacted rates expected to be in effect when the temporary differences reverse. Deferred tax expense or benefit is recognized in the financial statements according to the changes in deferred tax assets or liabilities between years. Valuation allowances are established to reduce deferred tax assets when it becomes more likely than not that such assets, or portions thereof, will not be realized. No provision for federal income taxes has been made in the accompanying consolidated financial statements, other than the provision relating to CatchMark TRS , as CatchMark Timber Trust did not generate taxable income for the periods presented. See Note 13 – Income Taxes for more information. CatchMark Timber Trust is also subject to certain state and local taxes related to the operations of timberland properties in certain locations, which have been provided for in the accompanying consolidated financial statements. CatchMark Timber Trust records interest and penalties related to uncertain tax positions as general and administrative expense in the accompanying consolidated statements of operations. Business Segments CatchMark Timber Trust owns interests in approximately 425,000 acres of timberland located in the U.S. South. CatchMark Timber Trust operates in a single reporting segment, and the presentation of CatchMark Timber Trust ’s financial condition and performance is consistent with the way in which CatchMark Timber Trust ’s operations are managed. Recent Accounting Pronouncements In February 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-02, Consolidation - Amendments to the Consolidation Analysis ("ASU 2015-02"). ASU 2015-02 modifies existing consolidation guidance related to (i) limited partnerships and similar legal entities, (ii) the evaluation of variable interests for fees paid to decision makers or service providers, (iii) the effect of fee arrangements and related parties on the primary beneficiary determination, and (iv) certain investment funds. These changes are expected to limit the number of consolidation models and place more emphasis on risk of loss when determining a controlling financial interest. ASU 2015-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2015. The adoption of ASU 2015-02 will not have an impact on CatchMark Timber Trust's consolidated financial statements or associated disclosures.

Timber Assets

Timber Assets	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Timber Assets	Timber Assets As of December 31, 2015 and 2014 , timber and timberlands consisted of the following, respectively: (in thousands) As of December 31, 2015 Gross Accumulated Depletion or Amortization Net Timber $ 281,198 $ 27,091 $ 254,107 Timberlands 330,446 — 330,446 Mainline roads 707 406 301 Timber and timberlands $ 612,351 $ 27,497 $ 584,854 (in thousands) As of December 31, 2014 Gross Accumulated Depletion or Amortization Net Timber $ 258,648 $ 14,788 $ 243,860 Timberlands 298,944 — 298,944 Mainline roads 614 317 297 Timber and timberlands $ 558,206 $ 15,105 $ 543,101 Timberland Acquisitions During the year ended December 31, 2015 , 2014 and 2013 , CatchMark Timber Trust acquired approximately 42,900 acres, 121,600 acres and 1,800 acres of timberland for approximately $73.3 million , $235.2 million and $1.4 million , respectively, excluding closing costs. A detailed breakout of acreage acquired by state is listed below: Acres Acquired In: 2015 2014 2013 Alabama — — 1,800 Florida — 2,500 — Georgia 9,900 79,600 — Louisiana 300 21,000 — North Carolina 1,600 — — South Carolina 12,500 — — Tennessee 300 — — Texas 18,300 18,500 — Total 42,900 121,600 1,800 Timberland Sales During the years ended December 31, 2015 , 2014 and 2013 , CatchMark Timber Trust sold approximately 6,400 acres, 3,800 acres, and 1,200 acres of timberland, respectively, for approximately $11.8 million , $10.7 million , and $2.5 million , respectively. CatchMark Timber Trust ’s cost basis in the timberland sold was approximately $8.9 million , $5.1 million , and $1.6 million respectively. A detailed breakout of land sale acreage by state is listed below: Acres Sold In: 2015 2014 2013 Alabama 3,000 800 300 Georgia 2,200 3,000 900 Texas 1,200 — — Total 6,400 3,800 1,200 Current Timberland Portfolio As of December 31, 2015 , CatchMark Timber Trust owned interests in approximately 425,000 acres of timberlands in the U.S. South, approximately 401,200 acres of which were held in fee-simple interests and approximately 23,800 acres were held in leasehold interests. A detailed breakout of land acreage by state is listed below: Acres by state as of December 31, 2015 Fee Lease Total Alabama 72,800 5,600 78,400 Florida 2,500 — 2,500 Georgia 254,600 18,200 272,800 Louisiana 21,300 — 21,300 North Carolina 1,600 — 1,600 South Carolina 12,500 — 12,500 Tennessee 300 — 300 Texas 35,600 — 35,600 Total: 401,200 23,800 425,000 Intangible Lease Assets Intangible Lease Assets consist of capitalized below-market in-place ground leases and are amortized as adjustments to land rent expense over the weighted-average remaining term of the respective leases. CatchMark Timber Trust had net below-market lease assets of approximately $23,000 and $26,000 as of December 31, 2015 and 2014 , respectively, and recognized amortization of this asset of approximately $4,000 , $4,000 , and $86,000 in 2015 , 2014 , and 2013 , respectively.

Note Payable and Line of Credit

Note Payable and Line of Credit	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Note Payable and Line of Credit	Note Payable and Line of Credit As of December 31, 2015 and 2014, CatchMark Timber Trust had the following indebtedness outstanding: Outstanding Balance as of (in thousands) Maturity Date December 31, 2015 December 31, 2014 2014 Term Loan Facility December 23, 2024 $ 100,000 $ 100,000 2014 Multi-Draw Term Facility December 23, 2021 85,002 18,000 Total Principal Balance $ 185,002 $ 118,000 Less: Net Unamortized Deferred Financing Costs (1) $ (3,955 ) $ (3,827 ) Total $ 181,047 $ 114,173 (1) Net Unamortized Deferred Financing Costs represent costs incurred for borrowings under the 2014 Term Loan Facility and the 2014 Multi-Draw Term Facility only. For further information regarding accounting treatment of deferred financing costs, see Note 2 – Summary of Significant Accounting Policies . CoBank Loan CatchMark Timber Trust entered into a senior credit agreement (the “CoBank Loan”) on September 28, 2012 with a syndicate of banks with CoBank serving as the administrative agent, Agfirst Farm Credit Bank (“Agfirst”) and Cooperatieve Rabobank, U.A. (“Rabobank”). Under the CoBank Loan, CatchMark Timber Trust borrowed $133.0 million through a term loan facility ("CoBank Term Loan") and had access to a $15.0 million revolving credit facility (the "CoBank Revolver"). Proceeds from the CoBank Term Loan were used to pay off the outstanding balance under CatchMark Timber Trust's previous credit agreement, fund costs associated with closing the CoBank Loan, and partially fund a timberland acquisition. No amount was drawn under the CoBank Revolver. The CoBank Loan bore interest at an adjustable rate based on one-month LIBOR plus an applicable margin ranging from 2.00% to 2.75% (the “LIBOR Rate”), based on the loan-to-collateral-value ratio (the “LTV Ratio”). On December 19, 2013, CatchMark Timber Trust paid down the CoBank Loan by $80.2 million using proceeds from its initial listed public offering. Amended CoBank Loan On December 19, 2013, CatchMark Timber Trust entered into a third amended and restated credit agreement (the “Amended CoBank Loan”) with CoBank, Agfirst, RaboBank and certain other financial institutions. The Amended CoBank Loan amended and restated the CoBank Loan in its entirety. The Amended CoBank Loan provided for borrowing under credit facilities consisting of: • a $15.0 million revolving credit facility (the “Revolving Credit Facility”), • a $150.0 million multi-draw term credit facility (the “Multi-Draw Term Facility”), and • the remaining amount outstanding under the CoBank Term Loan (the “Term Loan Facility”, and together with the Revolving Credit Facility and the Multi-Draw Term Facility, the “2013 Credit Facilities”), which was $52.2 million . The Amended CoBank Loan provided that the New Credit Facilities may be increased, upon the agreement of lenders willing to increase their loans, by up to $75.0 million , consisting of up to a $10.0 million increase in the Revolving Credit Facility and the remainder available for incremental term loans. The Revolving Credit Facility bore interest at an adjustable rate equal to a base rate plus between 0.50% and 1.75% or a LIBOR rate plus between 1.50% and 2.75% , in each case depending on CatchMark Timber Trust's LTV Ratio. The Multi-Draw Term Facility bore interest at an adjustable rate equal to a base rate plus between 0.75% and 2.00% or a LIBOR rate plus between 1.75% and 3.00% , in each case depending on the LTV Ratio. The Multi-Draw Term Facility was interest only until the maturity date. The Term Loan Facility bore interest at an adjustable rate equal to a base rate plus between 0.50% and 1.75% or a LIBOR rate plus between 1.50% and 2.75% , in each case depending on the CatchMark Timber Trust On May 30, 2014, CatchMark Timber Trust amended the Amended CoBank Loan to increase the availability under the Revolving Credit Facility by $10.0 million , from $15.0 million to $25.0 million , and increase the availability under the Multi-Draw Term Facility by $65.0 million , from $150.0 million to $215.0 million . 2014 Amended Credit Agreement On December 23, 2014, CatchMark Timber Trust entered into a fourth amended and restated credit agreement (the “2014 Amended Credit Agreement”) with CoBank, Agfirst, RaboBank and certain other financial institutions. The 2014 Amended Credit Agreement amended and restated the Amended CoBank Loan in its entirety. The 2014 Amended Credit Agreement originally provided for borrowing under credit facilities consisting of: • a $35.0 million revolving credit facility (the “2014 Revolving Credit Facility”), • a $275.0 million multi-draw term credit facility (the “2014 Multi-Draw Term Facility”), and • a $100.0 million term loan (the “2014 Term Loan Facility”, and together with the 2014 Revolving Credit Facility and the 2014 Multi-Draw Term Facility, the “2014 Amended Credit Facilities”). The terms of the 2014 Amended Credit Agreement provided that 2014 Amended Credit Facilities may be increased, upon the agreement of lenders willing to increase their loans, by up to $200.0 million . On December 11, 2015, CatchMark Timber Trust increased its credit availability under the 2014 Multi-Draw Term Facility by $90.0 million , from $275.0 million to $365.0 million . Borrowings under the 2014 Revolving Credit Facility may be used for general working capital, to support letters of credit, to fund cash earnest money deposits, to fund acquisitions in an amount not to exceed $5.0 million , and other general corporate purposes. The 2014 Revolving Credit Facility will bear interest at an adjustable rate equal to a base rate plus between 0.50% and 1.50% or a LIBOR rate plus between 1.50% and 2.50% , in each case depending on CatchMark Timber Trust's LTV Ratio, and will terminate and all amounts under the facility will be due and payable on December 23, 2019 . The 2014 Multi-Draw Term Facility may be drawn upon up to eight times during the period beginning on December 23, 2014 through December 23, 2017 and may be used to finance domestic timber acquisitions and associated expenses, refinance loan amounts under the 2014 Revolving Credit Facility, and purchase up to $25.0 million in CatchMark Timber Trust common stock. Amounts repaid under the 2014 Multi-Draw Term Facility may be re-borrowed prior to the third anniversary of the closing date. The 2014 Multi-Draw Term Facility will bear interest at an adjustable rate equal to a base rate plus between 0.75% and 1.75% or a LIBOR rate plus between 1.75% and 2.75% , in each case depending on the LTV Ratio, and will terminate and all amounts under the facility will be due and payable on December 23, 2021 . The 2014 Multi-Draw Term Facility is interest only until the maturity date; however, if the CatchMark Timber Trust’s LTV Ratio is equal to or in excess of 40% , then principal payments will be required to be made beginning on December 31, 2017 at a per annum rate of 5% of the principal amount outstanding under the 2014 Multi-Draw Term Facility. The 2014 Term Loan Facility shall be used solely to refinance the balance outstanding under the Multi-Draw Term Facility under the Amended CoBank Loan. The 2014 Term Loan Facility will bear interest at an adjustable rate equal to a base rate plus 1.75% or a LIBOR rate plus 1.75% , and will terminate and all amounts under the facility will be due and payable on December 23, 2024 . In March 2015, CatchMark Timber Trust received a patronage refund on its borrowings under the 2014 Amended Credit Agreement during 2014. The refund was calculated by CoBank and approximated 0.91% of CatchMark Timber Trust's weighted average balance outstanding under the 2014 Term Loan Facility and the 2014 Multi-Draw Term Facility (collectively, "patronage loans"). Of the total amount received, 75% was received in cash and 25% was received in equity in patronage banks. CatchMark Timber Trust expects to receive a patronage refund for 2015 and accrued for the expected refunds by multiplying the weighted average outstanding balance on the patronage loans by 0.90% . For the year ended December 31, 2015 , CatchMark Timber Trust recorded $1.3 million in patronage refunds as a credit to its interest expense. CatchMark Timber Trust pays the lenders an unused commitment fee on the unused portion of the 2014 Multi-Draw Term Facility and 2014 Revolving Credit Facility, at an adjustable rate ranging from 0.20% to 0.35% , depending on the LTV Ratio. The 2014 Amended Credit Agreement contains, among others, the following financial covenants: • limits the LTV Ratio to 45% at the end of each fiscal quarter and upon the sale or acquisition of any property; • requires that CatchMark Timber Trust maintains a fixed coverage charge ratio of not less than 1.05:1.00 . CatchMark Timber Trust was in compliance with the financial covenants of the 2014 Amended Credit Agreement as of December 31, 2015 . CatchMark Timber Trust ’s obligations under the 2014 Amended Credit Agreement are collateralized by a first priority lien on the timberlands owned by CatchMark Timber Trust ’s subsidiaries and substantially all of CatchMark Timber Trust ’s subsidiaries’ other assets in which a security interest may lawfully be granted, including, without limitation, accounts, equipment, inventory, intellectual property, bank accounts and investment property. In addition, CatchMark Timber Trust 's obligations under the 2014 Amended Credit Agreement are jointly and severally guaranteed by all of CatchMark Timber Trust and its subsidiaries pursuant to the terms of the 2014 Amended Credit Agreement. CatchMark Timber Trust has also agreed to guarantee certain losses caused by certain willful acts of CatchMark Timber Trust or its subsidiaries. Interest Paid and Fair Value of Outstanding Debt During the years ended December 31, 2015 , 2014 and 2013 , CatchMark Timber Trust made the following interest payments on its borrowings: (in thousands) 2015 2014 2013 CoBank Loan — — 2,935 Amended CoBank Loan — 1,706 92 2014 Amended Credit Agreement 3,253 — — $ 3,253 $ 1,706 $ 3,027 Included in the interest payments for the years ended December 31, 2015 and 2014 were unused commitment fees of $0.4 million and $0.4 million , respectively. No interest paid was capitalized during the years ended December 31, 2015, 2014 and 2013. As of December 31, 2015 , and 2014 , the weighted-average interest rate on these borrowings, after consideration of an interest rate swap (see Note 5 – Interest Rate Swaps ), was 2.65% and 2.58% , respectively. As of December 31, 2015 and 2014 , the fair value of CatchMark Timber Trust 's outstanding debt approximated its book value. The fair value was estimated based on discounted cash flow analysis using the current market borrowing rates for similar types of borrowing arrangements as of the measurement dates.

Interest Rate Swaps

Interest Rate Swaps	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Swaps	Interest Rate Swaps 2014 RaboBank Swap On December 24, 2014 , in connection with entering into the 2014 Amended Credit Agreement, CatchMark Timber Trust entered into an interest rate swap with RaboBank to hedge its exposure to changing interest rates on $35.0 million of the 2014 Amended Credit Agreement that is subject to a variable interest rate (the "2014 RaboBank Swap"). The 2014 RaboBank Swap became effective on December 23, 2014 and matures on December 23, 2024 . Under the terms of the 2014 RaboBank Swap, CatchMark Timber Trust pays interest at a fixed rate of 2.395% per annum to RaboBank and receives one -month LIBOR-based interest payments from RaboBank. The 2014 RaboBank Swap qualifies for hedge accounting treatment. 2013 RaboBank Swap CatchMark Timber Trust was party to an interest rate swap agreement with RaboBank to hedge its exposure to changing interest rates on $80.0 million of its variable interest rate term loan (the “2013 RaboBank Swap”). The 2013 RaboBank Swap became effective on March 28, 2013 and was scheduled to mature on September 30, 2017 . Under the terms of the 2013 RaboBank Swap, CatchMark Timber Trust paid interest at a fixed rate of 0.9075% per annum to RaboBank and received one -month LIBOR-based interest payments from Rabobank. The 2013 RaboBank Swap qualified for hedge accounting treatment. On December 19, 2013, in connection with entering into the Amended CoBank Loan, CatchMark Timber Trust unwound $47.0 million of the notional amount of the 2013 RaboBank Swap and received a cash payment of approximately $0.1 million from Rabobank as settlement. This amount was reclassified from accumulated other comprehensive income and recognized as realized gain on interest rate swap in current earnings in the consolidated statements of operations. In connection with the payoff of its outstanding indebtedness under the Amended CoBank Loan on July 18, 2014, CatchMark Timber Trust terminated the 2013 RaboBank Swap and received a counter-party payment of approximately $0.2 million from Rabobank, which was recorded as interest income in the accompanying consolidated statements of operations. Fair Value and Cash Paid for Interest Under Interest Rate Swap Agreements The following table presents information about CatchMark Timber Trust ’s interest rate swap measured at fair value as of December 31, 2015 and 2014 : (in thousands) Estimated Fair Value as of December 31, Instrument Type Balance Sheet Classification 2015 2014 Derivatives designated as hedging instruments: Interest rate swap contract Other liabilities $ (1,420 ) $ (856 ) During the year ended December 31, 2015 , CatchMark Timber Trust recognized a change in fair value of the 2014 Rabobank Swap agreement of approximately $0.6 million as other comprehensive loss. There was no hedge ineffectiveness on the 2014 Rabobank Swap required to be recognized in current earnings. During the year ended December 31, 2015 , 2014, and 2013, net payments of approximately $0.8 million , $0.1 million , $0.4 million were made under the swap agreements by CatchMark Timber Trust and were recorded as interest expense, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Mahrt Timber Agreements In connection with its acquisition of timberlands from WestRock Company (“WestRock”), CatchMark Timber Trust entered into a fiber supply agreement and a master stumpage agreement (collectively, the “Mahrt Timber Agreements”) with a wholly owned subsidiary of WestRock. The fiber supply agreement provides that WestRock will purchase specified tonnage of timber from CatchMark TRS at specified prices per ton, depending upon the type of timber. The fiber supply agreement is subject to quarterly market pricing adjustments based on an index published by Timber Mart-South, a quarterly trade publication that reports raw forest product prices in 11 southern states. The master stumpage agreement provides that CatchMark Timber Trust will sell specified amounts of timber and make available certain portions of its timberlands to CatchMark TRS for harvesting. The initial term of the Mahrt Timber Agreements is October 9, 2007 through December 31, 2032 , subject to extension and early termination provisions. The Mahrt Timber Agreements ensure a long-term source of supply of wood fiber products for WestRock in order to meet its paperboard and lumber production requirements at specified mills and provide CatchMark Timber Trust with a reliable customer for the wood products from its timberlands. For the years ended December 31, 2015 , 2014 , and 2013 , approximately 23% , 34% , and 60% , respectively, of our net timber sales revenue was derived from the Mahrt Timber Agreements. WestRock can terminate the Mahrt Timber Agreements prior to the expiration of the initial term if CatchMark Timber Trust replaces Forest Resource Consultants, Inc. ("FRC") as the forest manager without the prior written consent of WestRock, except pursuant to an internalization of the company's forestry management functions. CatchMark Timber Trust can terminate the Mahrt Timber Agreements if WestRock (1) ceases to operate the Mahrt mill for a period that exceeds 12 consecutive months, (2) fails to purchase a specified tonnage of timber for two consecutive years, subject to certain limited exceptions or (3) fails to make payments when due (and fails to cure within 30 days). In addition, either party can terminate the Mahrt Timber Agreements if the other party commits a material breach (and fails to cure within 60 days) or becomes insolvent. In addition, the Mahrt Timber Agreements provide for adjustments to both parties' obligations in the event of a force majeure, which is defined to include, among other things, lightning, fires, storms, floods, infestation and other acts of God or nature. Timberland Operating Agreements Pursuant to the terms of the timberland operating agreement between CatchMark Timber Trust and FRC (the "FRC Timberland Operating Agreement"), FRC manages and operates approximately 410,400 acres of CatchMark Timber Trust 's timberlands and related timber operations, including ensuring delivery of timber to WestRock in compliance with the Mahrt Timber Agreements. In consideration for rendering the services described in the FRC Timberland Operating Agreement, CatchMark Timber Trust pays FRC (i) a monthly management fee based on the actual acreage FRC manages, which is payable monthly in advance, and (ii) an incentive fee based on revenues generated by the timber operations. The incentive fee is payable quarterly in arrears. The FRC Timberland Operating Agreement, as amended, is effective through March 31, 2017 , with the option to extend for one -year periods and may be terminated by either party with mutual consent or by CatchMark Timber Trust with or without cause upon providing 120 days’ prior written notice. Pursuant to the terms of the timberland operating agreement between CatchMark Timber Trust and American Forestry Management, Inc, ("AFM" and the "AFM Timberland Operating Agreement", respectively), AFM manages and operates approximately 14,600 acres of CatchMark Timber Trust 's timberlands and related timber operations, including ensuring delivery of timber to customers. In consideration for rendering the services described in the AFM Timberland Operating Agreement, CatchMark Timber Trust pays AFM (i) a monthly management fee based on the actual acreage AFM manages, which is payable monthly in advance, and (ii) an incentive fee based on revenues generated by the timber operations. The incentive fee is payable quarterly in arrears. The AFM Timberland Operating Agreement is effective through November 30, 2016 , with the option to extend for one -year periods and may be terminated by either party with mutual consent or by CatchMark Timber Trust with or without cause upon providing 120 days’ prior written notice. Obligations under Operating Leases CatchMark Timber Trust held leasehold interests related to the use of approximately 23,800 acres of timberland as of December 31, 2015 . These operating leases have expiration dates ranging from 2019 through 2022 . Approximately 20,400 acres of these leased timberlands are leased to CatchMark Timber Trust under one long-term lease that expires in May 2022 (the “LTC Lease”). The LTC Lease calls for four quarterly lease payments totaling $3.10 per acre plus an annual adjustment payment based on the change in a price index as published by the U.S. Department of Labor’s Bureau of Labor Statistics from the LTC Lease’s base year of 1956. The all-in, per-lease acre rate, after considering both the quarterly and the annual adjustment payments, was $20.64 for the lease year ended May 2015 , which was used to calculate the following remaining required payments (in thousands) under the terms of the operating leases as of December 31, 2015 : 2016 $ 647 2017 647 2018 647 2019 542 2020 542 Thereafter 1,023 $ 4,048 Litigation From time to time, CatchMark Timber Trust may be a party to legal proceedings, claims, and administrative proceedings that arise in the ordinary course of its business. Management makes assumptions and estimates concerning the likelihood and amount of any reasonably possible loss relating to these matters using the latest information available. CatchMark Timber Trust records a liability for litigation if an unfavorable outcome is probable and the amount of loss or range of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, CatchMark Timber Trust accrues the best estimate within the range. If no amount within the range is a better estimate than any other amount, CatchMark Timber Trust accrues the minimum amount within the range. If an unfavorable outcome is probable but the amount of the loss cannot be reasonably estimated, CatchMark Timber Trust discloses the nature of the litigation and indicates that an estimate of the loss or range of loss cannot be made. If an unfavorable outcome is reasonably possible and the estimated loss is material, CatchMark Timber Trust discloses the nature and estimate of the possible loss of the litigation. CatchMark Timber Trust does not disclose information with respect to litigation where an unfavorable outcome is considered to be remote. CatchMark Timber Trust is not currently involved in any legal proceedings of which the outcome is reasonably likely to have a material adverse effect on the results of operations or financial condition of CatchMark Timber Trust . CatchMark Timber Trust is not aware of any legal proceedings contemplated by governmental authorities.

Noncontrolling Interest

Noncontrolling Interest	12 Months Ended
	Dec. 31, 2015
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest CatchMark Timber Trust is the general partner of CatchMark Timber OP and owns 99.99% of its common partnership units. CatchMark LP Holder is the sole limited partner, holding 200 common units representing approximately 0.01% of the partnership interests. Limited partners holding common units of partnership interests in CatchMark Timber OP have the option to redeem such units after the units have been held for one year. Unless CatchMark Timber Trust exercises its right to purchase common units of CatchMark Timber OP for shares of its common stock, CatchMark Timber OP would redeem such units with cash.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Under CatchMark Timber Trust 's charter, it has authority to issue a total of 1,000 million shares of capital stock. Of the total shares authorized, 900 million shares are designated as common stock with a par value of $0.01 per share, 100 million shares are designated as preferred stock. Class B-3 Common Stock Conversion On February 18, 2015, the board of directors approved the acceleration of the conversion of all of CatchMark Timber Trust's Class B-3 common stock into Class A common stock from June 12, 2015 to February 27, 2015. Upon completion of this conversion, all outstanding shares of CatchMark Timber Trust's common stock are shares of Class A common stock, eligible to trade on the NYSE. Share Repurchase Program On August 7, 2015, the board of directors authorized a stock repurchase program under which CatchMark Timber Trust may repurchase up to $30.0 million of its outstanding common shares. The program has no set duration and the board may discontinue or suspend it at any time. During the year ended December 31, 2015 , CatchMark Timber Trust repurchased 584,356 shares of common stock for approximately $6.0 million . All common stock purchases through the end of December 2015 under the stock repurchase program were made in open-market transactions. As of December 31, 2015 , CatchMark Timber Trust had 39.0 million shares of common stock outstanding and may purchase up to an additional $24.0 million under the program.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	Stock Based Compensation Amended and Restated Long-Term Incentive Plan CatchMark Timber Trust grants restricted shares of its common stock to its directors and employees pursuant to its Amended and Restated 2005 Long-Term Incentive Plan (the “LTIP”). The LTIP provides for issuance of up to 1.15 million shares of Class A common stock through October 25, 2023. Equity Compensation for Independent Directors Effective for the period January 1, 2014 to September 30, 2015, each of the independent directors received, on the day following an annual stockholders meeting, a number of restricted shares of CatchMark Timber Trust common stock having a value of $30,000 on the grant date. The number of restricted shares granted to each independent director was determined by dividing $30,000 by the fair market value per share of CatchMark Timber Trust 's common stock on the grant date. The restricted shares will vest in thirds on each of the first three anniversaries of the grant, subject to the independent director’s continued service on the board on each such date, or on the earlier occurrence of a change in control of our company or the independent director’s death, disability or termination with cause. Effective October 1, 2015, each of the independent directors receives, on the first business day immediately prior to the date on which CatchMark Timber Trust holds its annual stockholders meeting, a number of shares of CatchMark Timber Trust common stock having a value of $50,000 on the grant date. The number of shares granted to each independent director will be determined by dividing $50,000 by the fair market value per share of CatchMark Timber Trust 's common stock on the grant date. The shares are fully-vested and non-forfeitable upon the respective grant date. Additionally, one of the independent directors elected to receive a portion of his compensation in shares of CatchMark Timber Trust's common stock in lieu of cash. Accordingly, CatchMark Timber Trust granted 2,392 shares to this independent director during 2015. These shares vested immediately upon issuance. Stock Ownership Guidelines for Independent Directors On October 24, 2013, the board of directors adopted stock ownership guidelines for independent directors which require that each independent director own shares of CatchMark Timber Trust's common stock having a value of four times his or her annual cash retainer. Each director must meet the stock ownership guidelines by the later of October 25, 2018, or the fifth anniversary of his or her election to the board. Until the ownership guidelines are met, or at any time the director is not in compliance with the guidelines, he or she must retain 100% of any shares received from our company for service on the board, with an exception for shares sold for the limited purposes of paying the exercise price, in the case of stock options, or satisfying any applicable tax liability related to the award. Equity Compensation for Employees CatchMark Timber Trust grants restricted stock to its employees pursuant to its LTIP. The awards are granted by the compensation committee of the board of directors of CatchMark Timber Trust (the "Compensation Committee"). Service-based restricted stock grants typically vest ratably over a multi-year period. Performance-based restricted stock grants are awarded to the executive officers and the restricted shares may be earned based on the level of achievement of certain pre-determined performance goals over the performance period. The maximum number of shares that could be earned during the performance period are awarded on the grant date. Earned awards are determined by the Compensation Committee after the end of the performance period and vest over a period specific to each performance grant. Restricted Stock Activity During the year ended December 31, 2015 , CatchMark Timber Trust granted to its employees and independent directors the following restricted shares of its Class A common stock: Employees Independent Directors Total Service-based restricted stock (1) (2) 77,900 12,585 90,485 Performance-based restricted stock (3) 118,900 — 118,900 Total 196,800 12,585 209,385 (1) The service-based restricted stock issued to employees vests over four years. (2) The service-based restricted stock issued to independent directors vests over three years. (3) The performance-based restricted stock awards (the "2015 Performance Awards") represent the maximum number of shares that could be earned by the executive officers based on the relative performance of CatchMark Timber Trust's total stockholder return (the "TSR") as compared to a pre-established peer group's TSR and to the Russell 3000 Index. 50% of the earned award vests on the date it is determined by the Compensation Committee and the remaining 50% vests on the one year anniversary of the determination date. A rollforward of CatchMark Timber Trust's unvested restricted stock award activity for the year ended December 31, 2015 is as follows: Employees Independent Directors Number of Underlying Shares Weighted Average Grant Date Fair Value Number of Weighted Average Unvested at December 31, 2014 91,500 $ 13.54 13,608 $ 14.42 Granted 196,800 $ 8.94 12,585 $ 11.92 Vested — $ — (5,292 ) $ 14.38 Forfeited (10,200 ) $ 13.51 — $ — Unvested at December 31, 2015 278,100 $ 10.29 20,901 $ 12.71 The fair value of serviced-based restricted stock grants is determined by the close price of CatchMark Timber Trust's common stock on the grant date. The fair value of the 2015 Performance Award was calculated using the Monte-Carlo simulation with the following assumptions: Grant date market price (February 18, 2015) $ 11.63 Weighted average fair value per granted share $ 7.01 Assumptions: Volatility 38.54 % Expected term (years) 3.0 Risk-free interest rate 1.06 % The weighted-average grant date fair value of restricted stock granted for the years ended December 31, 2015, 2014 and 2013 was $9.12 , $13.79 and $13.58 , respectively. The fair value of restricted stock that vested during the years ended December 31, 2015, 2014, and 2013 was approximately $0.1 million , $0.2 million , and $1.8 million , respectively. CatchMark Timber Trust recognized compensation expenses over the period from the date of grant to the vesting date. During the year ended December 31, 2015, 2014 and 2013, CatchMark Timber Trust recorded $0.7 million , $0.3 million and $1.5 million of stock-based compensation cost in General and Administrative Expenses, and $0.2 million , $0.1 million and $0.4 million of stock-based compensation expense in Forestry Management Expenses, respectively. As of December 31, 2015 , approximately $2.1 million of unrecognized compensation expenses related to non-vested restricted stock remained and will be recognized over a weighted-average period of 3.0 years .

Recreational Leases

Recreational Leases	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Recreational Leases	Recreational Leases CatchMark Timber Trust leases certain access rights to individuals and companies for recreational purposes. These operating leases generally have terms of one year with certain provisions to extend the lease agreements for another one-year term. CatchMark Timber Trust retains substantially all of the risks and benefits of ownership of the timberland properties leased to tenants. As of December 31, 2015 , approximately 397,200 acres, or 93% , of CatchMark Timber Trust ’s timberland available for hunting and recreational uses had been leased to tenants under operating leases that expire between March and June 2016. Under the terms of the recreational leases, tenants are required to pay the entire rent upon execution of the lease agreement. Such rental receipts are recorded as other liabilities until earned over the terms of the respective recreational leases and recognized as other revenue. As of December 31, 2015 and 2014 , approximately $1.6 million and $1.5 million , respectively, of such rental receipts are recorded as other liabilities in the accompanying consolidated balance sheets. For the three years ended December 31, 2015 , 2014, and 2013, CatchMark Timber Trust recognized other revenues related to recreational leases of approximately $3.5 million , $2.7 million , $2.5 million , respectively.

Supplemental Disclosures of Non

Supplemental Disclosures of Noncash Activities	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Noncash Activities	Supplemental Disclosures of Noncash Activities Outlined below are significant noncash investing and financing transactions for the years ended December 31 2015, 2014 , and 2013 , respectively: (in thousands) 2015 2014 2013 Write-off of fully amortized deferred financing costs $ — $ 459 $ 1,371 Other liabilities assumed upon acquisition of timberland $ — $ — $ 125

Related-Party Transactions and

Related-Party Transactions and Agreements	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related-Party Transactions and Agreements	Related-Party Transactions and Agreements CatchMark Timber Trust previously operated as an externally advised REIT, advised by Wells Timberland Investment Management Organization, or Wells TIMO, a subsidiary of Wells Real Estate Funds (collectively, "Wells"). During the periods ended December 31, 2014 and 2013, CatchMark Timber Trust was party to several agreements with Wells, as described below. Since June 30, 2014, CatchMark Timber Trust has had no contractual relationship with Wells. • Advisory Agreement – Under the terms of the advisory agreement in place from January 1, 2013 to October 25, 2013, including various amendments and restatements, CatchMark Timber Trust incurred fees and reimbursements payable to Wells for asset management, asset dispositions, and administrative services. • Consulting Service Agreement – Wells provided CatchMark Timber Trust with certain consulting, support and transitional services at the direction of CatchMark Timber Trust , in order to facilitate CatchMark Timber Trust ’s successful transition to self-management. The Consulting Service Agreement remained in effect until June 30, 2014 • Sublease Agreement – Wells and CatchMark Timber OP entered into the sublease agreement on October 25, 2013, pursuant to which CatchMark Timber OP subleased from Wells a portion of the office space used and occupied by Wells. The term of the sublease commenced on October 25, 2013, and terminated on March 31, 2014. Related-Party Costs Pursuant to the terms of the agreements described above, CatchMark Timber Trust incurred the following related-party costs for the years ended December 31, 2014 and 2013 , respectively: (in thousands) 2014 2013 Advisor fees and expense reimbursements $ — $ 3,562 Consulting fees 137 50 Office rent 18 — Disposition fees — 39 Total $ 155 $ 3,651

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes CatchMark Timber Trust has elected to be taxed as a REIT, and therefore its operations are generally not subject to U.S. federal and state income taxes. As of January 1, 2009 (the "REIT Commencement Date"), its REIT commencement date, CatchMark Timber Trust had net built-in gains on its timber assets of approximately $18.3 million . CatchMark Timber Trust elected not to take such net built-in gains into income immediately prior to the REIT Commencement Date, but rather subsequently recognize gain on the disposition of any assets it holds at the REIT Commencement Date, if disposed of within the applicable period beginning on the REIT Commencement Date. With the passage of the Protecting Americans from Tax Hikes Act in 2015, the built-in gain period has been permanently reduced to five years. CatchMark Timber Trust has exceeded the five year built-in gain period since the REIT commencement date and is, therefore, no longer subject to the built-in gain tax. At December 31, 2015 , CatchMark Timber Trust had federal and state net operating loss carryforwards of approximately $128.8 million and $105.6 million , respectively. Such net operating loss carryforwards may be utilized, subject to certain limitations, to offset future taxable income, including net built-in gains. If not utilized, the federal net operating loss carryforwards will begin to expire in 2027 , and the state net operating loss carryforwards will begin to expire in 2022 . As of December 31, 2015 and 2014 , the tax basis carrying value of CatchMark Timber Trust ’s total assets was approximately $571.9 million and approximately $552.9 million , respectively. CatchMark Timber Trust records deferred income taxes using enacted tax laws and rates for the years in which the taxes are expected to be paid. Deferred income tax assets and liabilities are recorded based on the differences between the financial reporting and income tax bases of assets and liabilities. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. Components of the deferred tax asset as of December 31, 2015 and 2014 were attributable to the operations of CatchMark TRS only and were as follows: (in thousands) As of December 31, 2015 2014 Deferred tax assets: Net operating loss carryforward $ 9,468 $ 7,653 Gain on timberland sales 4 — Other 33 20 Total gross deferred tax asset 9,505 7,673 Valuation allowance (9,294 ) (7,670 ) Total net deferred tax asset $ 211 $ 3 Deferred tax liability: Timber depletion 211 — Gain on timberland sales — 3 Total gross deferred tax liability $ 211 $ 3 Deferred tax asset, net $ — $ — Income taxes for financial reporting purposes differ from the amount computed by applying the statutory federal rate primarily due to the effect of state income taxes and valuation allowances (net of federal benefit). A reconciliation of the federal statutory income tax rate to CatchMark TRS ’ effective tax rate for the years ended December 31, 2015 , 2014 , and 2013 is as follows: 2015 2014 2013 Federal statutory income tax rate 34.00 % 34.00 % 34.00 % State income taxes, net of federal benefit 3.13 3.21 3.06 Other temporary differences 0.27 0.50 (0.02 ) Write-off of due to affiliates — — — Other permanent differences (0.01 ) (0.02 ) 21.03 Valuation allowance (37.39 ) (37.69 ) (58.07 ) Effective tax rate — % — % — %

Quarterly Results (unaudited)

Quarterly Results (unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (unaudited)	Quarterly Results (unaudited) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2015 and 2014 : (in thousands, except per-share amounts) 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 20,244 $ 14,174 $ 17,629 $ 17,075 Operating loss (2) $ (14 ) $ (1,479 ) $ (1,069 ) $ (2,258 ) Net loss (2) $ (817 ) $ (2,330 ) $ (1,944 ) $ (3,296 ) Net loss available to common stockholders (2) $ (817 ) $ (2,330 ) $ (1,944 ) $ (3,296 ) Basic and diluted net loss per share available to common stockholders (1) (2) $ (0.02 ) $ (0.06 ) $ (0.05 ) $ (0.08 ) 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues 8,870 11,901 12,653 20,887 Operating income (loss) (3 ) 433 (277 ) 2,964 Net income (loss) (388 ) (349 ) (764 ) 2,161 Net income (loss) available to common stockholders (388 ) (349 ) (764 ) 2,161 Basic and diluted net income (loss) per share available to common stockholders (1) $ (0.02 ) $ (0.01 ) $ (0.02 ) $ 0.05 (1) The sum of the quarterly amounts do not equal income per share for the year ended December 31, 2014 due to the changes in weighted-average shares outstanding over the year. (2) See Note 2 – Summary of Significant Accounting Policies regarding our change in depletion methodology that was effective January 1, 2015.

Customer Concentration

Customer Concentration	12 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
Customer Concentration	Customer Concentration For the years ended December 31, 2015, 2014, and 2013, WestRock represented 31% , 39% , and 60% of CatchMark Timber Trust's total revenues. No other customer represented more than 10% of CatchMark Timber Trust's total revenues during these periods.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event On February 18, 2016, CatchMark Timber Trust declared a cash dividend of $0.125 per share for its Class A common stock for stockholders of record on February 29, 2016, payable on March 16, 2016.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The consolidated financial statements of CatchMark Timber Trust have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and shall include the accounts of any variable interest entity (“VIE”) in which CatchMark Timber Trust or its subsidiaries is deemed the primary beneficiary. With respect to entities that are not VIEs, CatchMark Timber Trust ’s consolidated financial statements shall also include the accounts of any entity in which CatchMark Timber Trust or its subsidiaries owns a controlling financial interest and any limited partnership in which CatchMark Timber Trust or its subsidiaries owns a controlling general partnership interest. In determining whether a controlling interest exists, CatchMark Timber Trust considers, among other factors, the ownership of voting interests, protective rights, and participatory rights of the investors. CatchMark Timber Trust owns a controlling financial interest in CatchMark Timber OP , CatchMark LP Holder and CatchMark TRS and, accordingly, includes the accounts of these entities in its consolidated financial statements. The financial statements of CatchMark Timber OP , CatchMark LP Holder and CatchMark TRS are prepared using accounting policies consistent with those used by CatchMark Timber Trust . All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents CatchMark Timber Trust considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value and may consist of investments in money market accounts.
Accounts Receivables	Accounts Receivable Accounts receivable are recorded at the original amount earned, net of allowances for doubtful accounts, which approximates fair value. Accounts receivable are deemed past due based on their respective payment terms. Management assesses the realizability of accounts receivable on an ongoing basis and provides for allowances as such balances, or portions thereof, become uncollectible. As of December 31, 2015 , 2014 , and 2013 , no allowances have been provided against accounts receivable. As of December 31, 2015 , CatchMark Timber Trust has recorded $1.3 million of estimated patronage refunds due from CoBank, ACB (“CoBank”) as accounts receivable (please refer to Note 4 – Note Payable and Line of Credit for further information regarding patronage refunds) .
Prepaid Expenses and Other Assets	Prepaid Expenses and Other Assets Prepaid expenses and other assets are primarily comprised of prepaid rent, insurance, and operating costs, equipment and furniture, net of accumulated depreciation, and deferred costs associated with pending acquisitions. Prepaid expenses are expensed as incurred or reclassified to other asset accounts upon being put into service in future periods. Balances without future economic benefit are written off as they are identified.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs are comprised of costs incurred in connection with securing financing from third-party lenders and are capitalized and amortized on a straight-line basis (which approximates the effective interest rate method) over the terms of the related financing arrangements. For the year ended December 31, 2015 , CatchMark Timber Trust has elected to early adopt Accounting Standards Update 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03") and Accounting Standards Update 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements ("ASU 2015-15"). Under ASU 2015-03, CatchMark Timber Trust has presented the deferred financing costs relating to its outstanding debt on the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of as an asset. Under ASU 2015-15, CatchMark Timber Trust has presented deferred financing costs associated with its line of credit agreement, which may not have an outstanding balance at times, as an asset on the accompanying consolidated balance sheets. ASU 2015-03 and ASU 2015-15 were applied on a retrospective basis and represent a change in accounting principle.
Timber Assets	Timber Assets Timber and timberlands, including logging roads, are stated at cost less accumulated depletion for timber harvested and accumulated road amortization. CatchMark Timber Trust capitalizes timber and timberland purchases. Reforestation costs, including all costs associated with stand establishment, such as site preparation, cost of seedlings, fertilization, and herbicide application, are capitalized and amortized over their estimated useful lives. Timber carrying costs, such as real estate taxes, insect control, wildlife control, leases of timberlands, and forestry management personnel salaries and fringe benefits, are expensed as incurred. Costs of major roads are capitalized and amortized over their estimated useful lives. Costs of roads built to access multiple logging sites over numerous years are capitalized and amortized over seven years. Costs of roads built to access a single logging site are expensed as incurred.
Change in Depletion Method	Depletion CatchMark Timber Trust recognizes depletion expense as timber is harvested. Prior to January 1, 2015, depletion rates for timber held longer than 12 months were determined annually using the normalized depletion method by dividing (a) the sum of (i) net carrying value of merchantable and premerchantable timber, and (ii) projected approved reforestation costs to be capitalized over the remaining harvest cycle, by (b) the estimated merchantable timber volume expected to be harvested over the same period. The projected future harvest volume was derived by using a specialized modeling software based on the specific management regime adopted and a set of scientific formulas. Significant management judgments were involved to develop estimates of future harvest volumes and future reforestation costs. For each fee timber tract owned less than one year, depletion rates are generally determined by dividing the acquisition cost attributable to its timber by the volume of timber acquired. Effective January 1, 2015, CatchMark Timber Trust changed the depletion method on its long-term timber to the straight-line method. Straight-line depletion rates are established at least annually by dividing the remaining merchantable inventory book value by current standing timber inventory volume. Management believes the change from the normalized depletion method to the straight-line depletion method is preferable as the straight-line method is based on the actual costs recorded and volumes of timber that are merchantable as of the date that the depletion rates are determined. It is less reliant on subjective and complex estimates as it does not include future costs to be incurred or expected timber growth. In accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 250, CatchMark Timber Trust determined that the change in depletion method is a change in accounting estimate effected by a change in accounting principle, and accordingly, the straight-line method was applied on a prospective basis, effective January 1, 2015. If CatchMark Timber Trust had continued using the normalized depletion method, depletion expense for the year ended December 31, 2015 would have been $4.5 million , or $0.11 per share, lower than the depletion expense it recorded using the straight-line depletion method.
Evaluating the Recoverability of Timber Assets	Evaluating the Recoverability of Timber Assets CatchMark Timber Trust continually monitors events and changes in circumstances that could indicate that the carrying amounts of the timber assets in which CatchMark Timber Trust has an ownership interest may not be recoverable. When indicators of potential impairment are present that suggest that the carrying amounts of timber assets may not be recoverable, CatchMark Timber Trust assesses the recoverability of these assets by determining whether the carrying value will be recovered through the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. Impairment losses would be recognized for (i) long-lived assets used in CatchMark Timber Trust ’s operations when the carrying value of such assets exceeds the undiscounted cash flows estimated to be generated from the future operations of those assets, and (ii) long-lived assets held for sale when the carrying value of such assets exceeds an amount equal to their fair value less selling costs. Estimated fair values are calculated based on the following information in order of preference, dependent upon availability: (i) recently quoted market prices, (ii) market prices for comparable properties, or (iii) the present value of undiscounted cash flows, including estimated salvage value. CatchMark Timber Trust intends to use one harvest cycle for the purpose of evaluating the recoverability of timber and timberlands used in its operations. Future cash flow estimates are based on discounted probability-weighted projections for a range of possible outcomes. CatchMark Timber Trust considers assets to be held for sale at the point at which a sale contract is executed and the buyer has made a non-refundable earnest money deposit against the contracted purchase price. CatchMark Timber Trust has determined that there has been no impairment of its long-lived assets to date.
Allocation of Purchase Price of Acquired Assets	Allocation of Purchase Price of Acquired Assets Upon the acquisition of timberland properties, CatchMark Timber Trust allocates the purchase price to tangible assets, consisting of timberland and timber, and identified intangible assets and liabilities, which may include values associated with in-place leases or supply agreements, based in each case on management’s estimate of their fair values. The values of tangible assets are then allocated to timberland and timber based on management’s determination of the relative fair value of these assets.
Intangible Lease Assets	Intangible Lease Assets In-place ground leases with CatchMark Timber Trust as the lessee have value associated with effective contractual rental rates that are below market rates. Such values are calculated based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place lease and (ii) management’s estimate of fair market lease rates for the corresponding in-place lease, measured over a period equal to the remaining terms of the leases. The capitalized below-market in-place lease values are recorded as intangible lease assets and are amortized as adjustments to land rent expense over the weighted-average remaining term of the respective leases.
Fair Value Measurements	Fair Value Measurements CatchMark Timber Trust estimates the fair value of its assets and liabilities (where currently required under GAAP) consistent with the provisions of the accounting standard for fair value measurements and disclosures. Under this guidance, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. While various techniques and assumptions can be used to estimate fair value depending on the nature of the asset or liability, the accounting standard for fair value measurements and disclosures provides the following fair value technique parameters and hierarchy, depending upon availability: Level 1 — Assets or liabilities for which the identical term is traded on an active exchange, such as publicly-traded instruments or futures contracts. Level 2 — Assets and liabilities valued based on observable market data for similar instruments. Level 3 — Assets or liabilities for which significant valuation assumptions are not readily observable in the market. Such assets or liabilities are valued based on the best available data, some of which may be internally developed. Significant assumptions may include risk premiums that a market participant would require. Fair Value of Debt Instruments CatchMark Timber Trust applied the provisions of the accounting standard for fair value measurements and disclosures in estimations of fair value of its debt instruments based on Level 2 assumptions. The fair value of the outstanding note payable was estimated based on discounted cash flow analysis using the current observable market borrowing rates for similar types of borrowing arrangements as of the measurement date. The discounted cash flow method of assessing fair value results in a general approximation of book value, and such value may never actually be realized.
Stockholders' Equity	Preferred Stock The proceeds from issued and outstanding shares of preferred stock and dividends payable on preferred stock were recorded as preferred stock. Common Stock The par value of CatchMark Timber Trust ’s issued and outstanding shares of common stock is recorded as common stock. The remaining gross proceeds, net of offering costs, are recorded as additional paid-in capital.
Interest Rate Swaps	Interest Rate Swaps CatchMark Timber Trust has entered into interest rate swap contracts to mitigate its exposure to changing interest rates on variable rate debt instruments. CatchMark Timber Trust does not enter into derivative or interest rate transactions for speculative purposes; however, certain of its derivatives may not qualify for hedge accounting treatment. The fair values of interest rate swaps are recorded as either prepaid expenses and other assets or other liabilities in the accompanying consolidated balance sheets. Changes in the fair value of the effective portion of interest rate swaps that are designated as hedges are recorded as other comprehensive income (loss), while changes in the fair value of the ineffective portion of hedges, if any, are recognized in current earnings. Changes in the fair value of interest rate swaps that do not qualify for hedge accounting treatment are recorded as gain (loss) on interest rate swap in the consolidated statements of operations. Amounts received or paid under interest rate swaps are recorded as interest expense for contracts that qualify for hedge accounting treatment and as gain (loss) on interest rate swaps for contracts that do not qualify for hedge accounting treatment. CatchMark Timber Trust applied the provisions of the accounting standard for fair value measurements and disclosures in recording its interest rate swap at fair value. The fair value of the interest rate swap, classified under Level 2, was determined using a third-party proprietary model that is based on prevailing market data for contracts with matching durations, current and anticipated London Interbank Offered Rate ("LIBOR") information, consideration of CatchMark Timber Trust 's credit standing, credit risk of counterparties, and reasonable estimates about relevant future market conditions.
Revenue Recognition	Revenue Recognition Revenue from the sale of timber is recognized when the following criteria are met: (i) persuasive evidence of an agreement exists, (ii) legal ownership and the risk of loss are transferred to the purchaser, (iii) price and quantity are determinable, and (iv) collectibility is reasonably assured. CatchMark Timber Trust ’s primary sources of revenue are recognized as follows: (1) For delivered sales contracts, which include amounts sufficient to cover costs of logging and hauling of timber, revenues are recognized upon delivery to the customer. (2) For pay-as-cut contracts, the purchaser acquires the right to harvest specified timber on a tract, at an agreed-upon price per unit. Payments and contract advances are recognized as revenue as the timber is harvested based on the contracted sale rate per unit. (3) Revenues from the sale of HBU and nonstrategic timberlands are recognized when title passes and full payment or a minimum down payment is received and full collectibility is assured. If a down payment of less than the minimum down payment is received at closing, CatchMark Timber Trust will record revenue based on the installment method. (4) For recreational leases, rental income collected in advance is recorded as other liabilities in the accompanying consolidated balance sheets until earned over the term of the respective recreational lease and recognized as other revenue. In addition to the sources of revenue noted above, CatchMark Timber Trust also may enter into lump-sum sale contracts, whereby the purchaser generally pays the purchase price upon execution of the contract. Title to the timber and risk of loss transfers to the buyer at the time the contract is consummated. Revenues are recognized upon receipt of the purchase price. When the contract expires, ownership of the remaining standing timber reverts to CatchMark Timber Trust ; however, adjustments are not made to the revenues previously recognized.
Stock-based Compensation	Stock-based Compensation CatchMark Timber Trust has issued stock-based compensation in the form of stock options and restricted stock to its directors and employees pursuant to its Long-Term Incentive Plan. Restricted stock awards issued are considered equity awards and are recorded as a reduction to additional paid-in capital upon issuance. The fair value of stock options and restricted stock is recognized over the respective weighted-average vesting periods by charging expense and recording additional paid-in capital. For those awards with performance conditions, expense is only recorded if it is deemed probable that the performance condition will be achieved. Stock-based compensation expense in the accompanying consolidated statements of operations is recorded as forestry management expenses for those employees whose job is related to forest operations and as general and administrative expense for all other employees and directors. See Note 9 – Stock Based Compensation for a description of CatchMark Timber Trust’s Long-Term Incentive Plan.
Earnings Per Share	Earnings Per Share Basic earnings (loss) per share available to common stockholders is calculated as net income (loss) available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Net income (loss) available to common stockholders is calculated as net income (loss) less dividends payable to or accumulated to preferred stockholders. Diluted earnings (loss) per share available to common stockholders equals basic earnings per share available to common stockholders, adjusted to reflect the dilution that would occur if all outstanding securities convertible into common shares or contracts to issue common shares were converted or exercised and the related proceeds are then used to repurchase common shares. Basic and diluted earnings (loss) per share were the same for all periods presented as the dilutive effect of outstanding securities was immaterial.
Income Taxes	Income Taxes CatchMark Timber Trust has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), and has operated as such beginning with its taxable year ended December 31, 2009. To qualify to be taxed as a REIT, CatchMark Timber Trust must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income to its stockholders. As a REIT, CatchMark Timber Trust generally is not subject to federal income tax on taxable income it distributes to stockholders. If CatchMark Timber Trust fails to qualify as a REIT in any taxable year, it will then be subject to federal and state income taxes on its taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants CatchMark Timber Trust relief under certain statutory provisions. CatchMark Timber Trust has elected to treat CatchMark TRS as a taxable REIT subsidiary. CatchMark Timber Trust may perform certain non-customary services, including real estate or non-real-estate related services, through CatchMark TRS . Earnings from services performed through CatchMark TRS are subject to federal and state income taxes irrespective of the dividends paid deduction available to REITs for federal income tax purposes. In addition, for CatchMark Timber Trust to continue to qualify to be taxed as a REIT, CatchMark Timber Trust ’s investment in CatchMark TRS and any other TRSs may not exceed 25% ( 20% after 2017) of the value of the total assets of CatchMark Timber Trust . Deferred tax assets and liabilities represent temporary differences between the financial reporting basis and the tax basis of assets and liabilities based on the enacted rates expected to be in effect when the temporary differences reverse. Deferred tax expense or benefit is recognized in the financial statements according to the changes in deferred tax assets or liabilities between years. Valuation allowances are established to reduce deferred tax assets when it becomes more likely than not that such assets, or portions thereof, will not be realized. No provision for federal income taxes has been made in the accompanying consolidated financial statements, other than the provision relating to CatchMark TRS , as CatchMark Timber Trust did not generate taxable income for the periods presented. See Note 13 – Income Taxes for more information. CatchMark Timber Trust is also subject to certain state and local taxes related to the operations of timberland properties in certain locations, which have been provided for in the accompanying consolidated financial statements. CatchMark Timber Trust records interest and penalties related to uncertain tax positions as general and administrative expense in the accompanying consolidated statements of operations.
Business Segments	Business Segments CatchMark Timber Trust owns interests in approximately 425,000 acres of timberland located in the U.S. South. CatchMark Timber Trust operates in a single reporting segment, and the presentation of CatchMark Timber Trust ’s financial condition and performance is consistent with the way in which CatchMark Timber Trust ’s operations are managed.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-02, Consolidation - Amendments to the Consolidation Analysis ("ASU 2015-02"). ASU 2015-02 modifies existing consolidation guidance related to (i) limited partnerships and similar legal entities, (ii) the evaluation of variable interests for fees paid to decision makers or service providers, (iii) the effect of fee arrangements and related parties on the primary beneficiary determination, and (iv) certain investment funds. These changes are expected to limit the number of consolidation models and place more emphasis on risk of loss when determining a controlling financial interest. ASU 2015-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2015. The adoption of ASU 2015-02 will not have an impact on CatchMark Timber Trust's consolidated financial statements or associated disclosures.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Financial Statement Impact by the Change in Accounting Principle	The following financial statement line items for the year ended December 31, 2014 were effected by the change in accounting principle: (in thousands) Consolidated Balance Sheet December 31, 2014 As Reported As Adjusted Effect of Change Deferred financing costs, less accumulated amortization $ 4,245 $ 418 $ (3,827 ) Note payable and line of credit, less net unamortized deferred financing costs $ 118,000 $ 114,173 $ (3,827 )

Timber Assets (Tables)

Timber Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of timber and timberlands	As of December 31, 2015 and 2014 , timber and timberlands consisted of the following, respectively: (in thousands) As of December 31, 2015 Gross Accumulated Depletion or Amortization Net Timber $ 281,198 $ 27,091 $ 254,107 Timberlands 330,446 — 330,446 Mainline roads 707 406 301 Timber and timberlands $ 612,351 $ 27,497 $ 584,854 (in thousands) As of December 31, 2014 Gross Accumulated Depletion or Amortization Net Timber $ 258,648 $ 14,788 $ 243,860 Timberlands 298,944 — 298,944 Mainline roads 614 317 297 Timber and timberlands $ 558,206 $ 15,105 $ 543,101
Schedule of timberland acquired by state	A detailed breakout of acreage acquired by state is listed below: Acres Acquired In: 2015 2014 2013 Alabama — — 1,800 Florida — 2,500 — Georgia 9,900 79,600 — Louisiana 300 21,000 — North Carolina 1,600 — — South Carolina 12,500 — — Tennessee 300 — — Texas 18,300 18,500 — Total 42,900 121,600 1,800
Schedule of timberland sale by state	A detailed breakout of land sale acreage by state is listed below: Acres Sold In: 2015 2014 2013 Alabama 3,000 800 300 Georgia 2,200 3,000 900 Texas 1,200 — — Total 6,400 3,800 1,200
Schedule of timberland portfolio by state	A detailed breakout of land acreage by state is listed below: Acres by state as of December 31, 2015 Fee Lease Total Alabama 72,800 5,600 78,400 Florida 2,500 — 2,500 Georgia 254,600 18,200 272,800 Louisiana 21,300 — 21,300 North Carolina 1,600 — 1,600 South Carolina 12,500 — 12,500 Tennessee 300 — 300 Texas 35,600 — 35,600 Total: 401,200 23,800 425,000

Note Payable and Line of Cred27

Note Payable and Line of Credit (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt Outstanding	As of December 31, 2015 and 2014, CatchMark Timber Trust had the following indebtedness outstanding: Outstanding Balance as of (in thousands) Maturity Date December 31, 2015 December 31, 2014 2014 Term Loan Facility December 23, 2024 $ 100,000 $ 100,000 2014 Multi-Draw Term Facility December 23, 2021 85,002 18,000 Total Principal Balance $ 185,002 $ 118,000 Less: Net Unamortized Deferred Financing Costs (1) $ (3,955 ) $ (3,827 ) Total $ 181,047 $ 114,173 (1) Net Unamortized Deferred Financing Costs represent costs incurred for borrowings under the 2014 Term Loan Facility and the 2014 Multi-Draw Term Facility only. For further information regarding accounting treatment of deferred financing costs, see Note 2 – Summary of Significant Accounting Policies .
Schedule of Interest Payments	CatchMark Timber Trust made the following interest payments on its borrowings: (in thousands) 2015 2014 2013 CoBank Loan — — 2,935 Amended CoBank Loan — 1,706 92 2014 Amended Credit Agreement 3,253 — — $ 3,253 $ 1,706 $ 3,027

Interest Rate Swaps (Tables)

Interest Rate Swaps (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate swaps measured at fair value	The following table presents information about CatchMark Timber Trust ’s interest rate swap measured at fair value as of December 31, 2015 and 2014 : (in thousands) Estimated Fair Value as of December 31, Instrument Type Balance Sheet Classification 2015 2014 Derivatives designated as hedging instruments: Interest rate swap contract Other liabilities $ (1,420 ) $ (856 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Future minimum rental payments for operating leases	the following remaining required payments (in thousands) under the terms of the operating leases as of December 31, 2015 : 2016 $ 647 2017 647 2018 647 2019 542 2020 542 Thereafter 1,023 $ 4,048

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Restricted Stock Granted in the Period	During the year ended December 31, 2015 , CatchMark Timber Trust granted to its employees and independent directors the following restricted shares of its Class A common stock: Employees Independent Directors Total Service-based restricted stock (1) (2) 77,900 12,585 90,485 Performance-based restricted stock (3) 118,900 — 118,900 Total 196,800 12,585 209,385 (1) The service-based restricted stock issued to employees vests over four years. (2) The service-based restricted stock issued to independent directors vests over three years. (3) The performance-based restricted stock awards (the "2015 Performance Awards") represent the maximum number of shares that could be earned by the executive officers based on the relative performance of CatchMark Timber Trust's total stockholder return (the "TSR") as compared to a pre-established peer group's TSR and to the Russell 3000 Index. 50% of the earned award vests on the date it is determined by the Compensation Committee and the remaining 50% vests on the one year anniversary of the determination date.
Nonvested Restricted Stock Shares Activity	A rollforward of CatchMark Timber Trust's unvested restricted stock award activity for the year ended December 31, 2015 is as follows: Employees Independent Directors Number of Underlying Shares Weighted Average Grant Date Fair Value Number of Weighted Average Unvested at December 31, 2014 91,500 $ 13.54 13,608 $ 14.42 Granted 196,800 $ 8.94 12,585 $ 11.92 Vested — $ — (5,292 ) $ 14.38 Forfeited (10,200 ) $ 13.51 — $ — Unvested at December 31, 2015 278,100 $ 10.29 20,901 $ 12.71
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of serviced-based restricted stock grants is determined by the close price of CatchMark Timber Trust's common stock on the grant date. The fair value of the 2015 Performance Award was calculated using the Monte-Carlo simulation with the following assumptions: Grant date market price (February 18, 2015) $ 11.63 Weighted average fair value per granted share $ 7.01 Assumptions: Volatility 38.54 % Expected term (years) 3.0 Risk-free interest rate 1.06 %

Supplemental Disclosures of N31

Supplemental Disclosures of Noncash Activities (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of significant noncash investing and financing transactions	Outlined below are significant noncash investing and financing transactions for the years ended December 31 2015, 2014 , and 2013 , respectively: (in thousands) 2015 2014 2013 Write-off of fully amortized deferred financing costs $ — $ 459 $ 1,371 Other liabilities assumed upon acquisition of timberland $ — $ — $ 125

Related-Party Transactions an32

Related-Party Transactions and Agreements (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	CatchMark Timber Trust incurred the following related-party costs for the years ended December 31, 2014 and 2013 , respectively: (in thousands) 2014 2013 Advisor fees and expense reimbursements $ — $ 3,562 Consulting fees 137 50 Office rent 18 — Disposition fees — 39 Total $ 155 $ 3,651

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Components of the deferred tax asset	Components of the deferred tax asset as of December 31, 2015 and 2014 were attributable to the operations of CatchMark TRS only and were as follows: (in thousands) As of December 31, 2015 2014 Deferred tax assets: Net operating loss carryforward $ 9,468 $ 7,653 Gain on timberland sales 4 — Other 33 20 Total gross deferred tax asset 9,505 7,673 Valuation allowance (9,294 ) (7,670 ) Total net deferred tax asset $ 211 $ 3 Deferred tax liability: Timber depletion 211 — Gain on timberland sales — 3 Total gross deferred tax liability $ 211 $ 3 Deferred tax asset, net $ — $ —
A reconciliation of federal statutory income tax rate	A reconciliation of the federal statutory income tax rate to CatchMark TRS ’ effective tax rate for the years ended December 31, 2015 , 2014 , and 2013 is as follows: 2015 2014 2013 Federal statutory income tax rate 34.00 % 34.00 % 34.00 % State income taxes, net of federal benefit 3.13 3.21 3.06 Other temporary differences 0.27 0.50 (0.02 ) Write-off of due to affiliates — — — Other permanent differences (0.01 ) (0.02 ) 21.03 Valuation allowance (37.39 ) (37.69 ) (58.07 ) Effective tax rate — % — % — %

Quarterly Results (unaudited) (

Quarterly Results (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summary of the unaudited quarterly financial information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2015 and 2014 : (in thousands, except per-share amounts) 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 20,244 $ 14,174 $ 17,629 $ 17,075 Operating loss (2) $ (14 ) $ (1,479 ) $ (1,069 ) $ (2,258 ) Net loss (2) $ (817 ) $ (2,330 ) $ (1,944 ) $ (3,296 ) Net loss available to common stockholders (2) $ (817 ) $ (2,330 ) $ (1,944 ) $ (3,296 ) Basic and diluted net loss per share available to common stockholders (1) (2) $ (0.02 ) $ (0.06 ) $ (0.05 ) $ (0.08 ) 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues 8,870 11,901 12,653 20,887 Operating income (loss) (3 ) 433 (277 ) 2,964 Net income (loss) (388 ) (349 ) (764 ) 2,161 Net income (loss) available to common stockholders (388 ) (349 ) (764 ) 2,161 Basic and diluted net income (loss) per share available to common stockholders (1) $ (0.02 ) $ (0.01 ) $ (0.02 ) $ 0.05 (1) The sum of the quarterly amounts do not equal income per share for the year ended December 31, 2014 due to the changes in weighted-average shares outstanding over the year. (2) See Note 2 – Summary of Significant Accounting Policies regarding our change in depletion methodology that was effective January 1, 2015.

Organization (Details)

Organization (Details)	12 Months Ended
	Dec. 31, 2015
General Partner
Class of Stock [Line Items]
Percentage of general partnership interest owned by the company in the Operating Partnership common units	99.99%

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)a$ / shares	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2017
Significant Accounting Policies
Impact of the Change in Accounting Estimate That is Effected by a Change in Accounting Principle	$ 4.5
Per Share of the Impact of the Change in Accounting Estimate That is Effected by a Change in Accounting Principle | $ / shares	$ 0.11
Amortization of financing costs	$ 0.6	$ 0.7	$ 1.3
Timber Properties
Significant Accounting Policies
Area of Land | a	425,000
U.S. South | Timber Properties
Significant Accounting Policies
Area of Land | a	425,000
Internal Revenue Service (IRS) | Domestic Tax Authority
Significant Accounting Policies
Requirement to distribute taxable income (percent)	90.00%
Internal Revenue Service (IRS) | Maximum | Domestic Tax Authority
Significant Accounting Policies
Limit on investments in taxable real estate investments trusts (percent)	25.00%
Accounts Receivable
Significant Accounting Policies
Patronage Refunds	$ 1.3
Scenario, Forecast | Internal Revenue Service (IRS) | Maximum | Domestic Tax Authority
Significant Accounting Policies
Limit on investments in taxable real estate investments trusts (percent)				20.00%

Summary of Significant Accoun37

Summary of Significant Accounting Policies Early Adoption of ASU 2015-03 and ASU 2015-15 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred financing costs, less accumulated amortization	$ 354	$ 418
Note payable and line of credit, less net unamortized deferred financing costs		114,173
New Accounting Pronouncement, Early Adoption, Effect
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred financing costs, less accumulated amortization		(3,827)
Note payable and line of credit, less net unamortized deferred financing costs		(3,827)
Scenario, Previously Reported
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred financing costs, less accumulated amortization		4,245
Note payable and line of credit, less net unamortized deferred financing costs		$ 118,000

Timber Assets (Details)

Timber Assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)a	Dec. 31, 2014USD ($)a	Dec. 31, 2013USD ($)a
Property, Plant and Equipment [Line Items]
Area of timberlands acquired	42,900	121,600	1,800
Timberland, acres sold	6,400	3,800	1,200
Timberland, acres sold, value | $	$ 11,845	$ 10,650	$ 2,499
Basis of timberland sold | $	8,886	5,072	$ 1,570
Net below-market lease assets | $	$ 23	$ 26
Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land	425,000
Area of Land, Fee Simple	401,200
Land Subject to Ground Leases	23,800
Area of timberlands acquired	42,900	121,600	1,800
Payments to acquire timberland | $	$ 73,300	$ 235,200	$ 1,400
Off-Market Favorable Lease
Property, Plant and Equipment [Line Items]
Amortization of intangible assets | $	$ 4	$ 4	$ 86
ALABAMA | Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land			78,400
Area of Land, Fee Simple	72,800
Land Subject to Ground Leases	5,600
Area of timberlands acquired	0	0	1,800
Timberland, acres sold	3,000	800	300
FLORIDA | Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land			2,500
Area of Land, Fee Simple	2,500
Land Subject to Ground Leases	0
Area of timberlands acquired	0	2,500	0
GEORGIA | Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land			272,800
Area of Land, Fee Simple	254,600
Land Subject to Ground Leases	18,200
Area of timberlands acquired	9,900	79,600	0
Timberland, acres sold	2,200	3,000	900
LOUISIANA | Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land			21,300
Area of Land, Fee Simple	21,300
Land Subject to Ground Leases	0
Area of timberlands acquired	300	21,000	0
NORTH CAROLINA | Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land			1,600
Area of Land, Fee Simple	1,600
Land Subject to Ground Leases	0
Area of timberlands acquired	1,600	0	0
SOUTH CAROLINA | Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land			12,500
Area of Land, Fee Simple	12,500
Land Subject to Ground Leases	0
Area of timberlands acquired	12,500	0	0
TENNESSEE | Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land			300
Area of Land, Fee Simple	300
Land Subject to Ground Leases	0
Area of timberlands acquired	300	0	0
TEXAS | Timber Properties
Property, Plant and Equipment [Line Items]
Area of Land			35,600
Area of Land, Fee Simple	35,600
Land Subject to Ground Leases	0
Area of timberlands acquired	18,300	18,500	0
Timberland, acres sold	1,200	0	0

Timber Assets Schedule of Timbe

Timber Assets Schedule of Timber and Timberlands (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Timber and timberlands, gross	$ 612,351	$ 558,206
Timber and timberlands, accumulated depletion or amortization	27,497	15,105
Timber and timberlands, net	584,854	543,101
Timber Properties
Property, Plant and Equipment [Line Items]
Timber and timberlands, gross	281,198	258,648
Timber and timberlands, accumulated depletion or amortization	27,091	14,788
Timber and timberlands, net	254,107	243,860
Timberlands
Property, Plant and Equipment [Line Items]
Timber and timberlands, gross	330,446	298,944
Timber and timberlands, accumulated depletion or amortization	0	0
Timber and timberlands, net	330,446	298,944
Mainline roads
Property, Plant and Equipment [Line Items]
Timber and timberlands, gross	707	614
Timber and timberlands, accumulated depletion or amortization	406	317
Timber and timberlands, net	$ 301	$ 297

Note Payable and Line of Cred40

Note Payable and Line of Credit (Details)	Mar. 31, 2015	Dec. 23, 2014USD ($)Draw	Dec. 19, 2013USD ($)	Sep. 28, 2012USD ($)Rate	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 11, 2015USD ($)	Dec. 10, 2015USD ($)	May. 30, 2014USD ($)
Debt Instrument [Line Items]
Repayment of CoBank loan					$ 498,000	$ 254,910,000	$ 80,196,000
Note payable and line of credit, less net unamortized deferred financing costs						114,173,000
Unused commitment fees					$ 400,000	$ 400,000
Secured Debt
Debt Instrument [Line Items]
Weighted average interest rate					2.65%	2.58%
CoBank Loan | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 133,000,000
CoBank Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 15,000,000
Amended CoBank Loan
Debt Instrument [Line Items]
Outstanding amount on line of credit			$ 52,160,000
Maximum additional borrowings allowed under line of credit			75,000,000
Amended CoBank Loan | Multi-Draw Term Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			150,000,000							$ 215,000,000
Amended CoBank Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 15,000,000							25,000,000
Amended Credit Agreement | Multi-Draw Term Facility
Debt Instrument [Line Items]
Increase in availability of credit										65,000,000
Amended Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Increase in availability of credit										$ 10,000,000
2014 Amended Credit Agreement
Debt Instrument [Line Items]
Maximum additional borrowings allowed under line of credit		$ 200,000,000
Covenant, minimum fixed charge coverage ratio		1.05
2014 Amended Credit Agreement | 2014 Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 35,000,000
Amount of credit facility allowed to be used for timberland acquisitions		5,000,000
2014 Amended Credit Agreement | 2014 Term Loan Facility
Debt Instrument [Line Items]
Outstanding amount on line of credit		$ 100,000,000
2014 Amended Credit Agreement | 2014 Multi-Draw Term Facility and 2014 Term Loan Facility
Debt Instrument [Line Items]
Patronage refund percentage	0.91%				0.90%
Patronage Refund Percentage, Cash	75.00%
Patronage Refund Percentage, Equity in Patronage Banks	25.00%
2014 Amended Credit Agreement | 2014 Multi Draw Term Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 365,000,000	$ 275,000,000
increase in availability of credit								$ 90,000,000
Number of draw allowed under the line of credit | Draw		8
Amount of credit facility allowed to be used for share repurchases		$ 25,000,000
Covenant terms, loan to value ratio (in percent)		40.00%
Covenant terms, principal payment at per annum rate (in percent)		5.00%
One-Month LIBOR | CoBank Loan | Term Loan
Debt Instrument [Line Items]
One-month LIBOR				one-month LIBOR
Base Rate | Amended CoBank Loan | Multi-Draw Term Facility
Debt Instrument [Line Items]
One-month LIBOR			base rate
Base Rate | Amended CoBank Loan | Term Loan
Debt Instrument [Line Items]
One-month LIBOR			base rate
Base Rate | Amended CoBank Loan | Revolving Credit Facility
Debt Instrument [Line Items]
One-month LIBOR			base rate
Base Rate | 2014 Amended Credit Agreement | 2014 Revolving Credit Facility
Debt Instrument [Line Items]
One-month LIBOR		base rate
Base Rate | 2014 Amended Credit Agreement | 2014 Term Loan Facility
Debt Instrument [Line Items]
One-month LIBOR		base rate
Basis spread on variable rate (in percent)		1.75%
Base Rate | 2014 Amended Credit Agreement | 2014 Multi Draw Term Facility
Debt Instrument [Line Items]
One-month LIBOR		base rate
LIBOR | Amended CoBank Loan | Multi-Draw Term Facility
Debt Instrument [Line Items]
One-month LIBOR			LIBOR
LIBOR | Amended CoBank Loan | Term Loan
Debt Instrument [Line Items]
One-month LIBOR			LIBOR
LIBOR | Amended CoBank Loan | Revolving Credit Facility
Debt Instrument [Line Items]
One-month LIBOR			LIBOR
LIBOR | 2014 Amended Credit Agreement | 2014 Revolving Credit Facility
Debt Instrument [Line Items]
One-month LIBOR		LIBOR
LIBOR | 2014 Amended Credit Agreement | 2014 Term Loan Facility
Debt Instrument [Line Items]
One-month LIBOR		LIBOR
Basis spread on variable rate (in percent)		1.75%
LIBOR | 2014 Amended Credit Agreement | 2014 Multi Draw Term Facility
Debt Instrument [Line Items]
One-month LIBOR		LIBOR
Minimum | 2014 Amended Credit Agreement | 2014 Multi-Draw and 2014 Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.20%
Minimum | One-Month LIBOR | CoBank Loan | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate (in percent) | Rate				2.00%
Minimum | Base Rate | Amended CoBank Loan | Multi-Draw Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			0.75%
Minimum | Base Rate | Amended CoBank Loan | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			0.50%
Minimum | Base Rate | Amended CoBank Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			0.50%
Minimum | Base Rate | 2014 Amended Credit Agreement | 2014 Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)		0.50%
Minimum | Base Rate | 2014 Amended Credit Agreement | 2014 Multi Draw Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)		0.75%
Minimum | LIBOR | Amended CoBank Loan | Multi-Draw Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			1.75%
Minimum | LIBOR | Amended CoBank Loan | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			1.50%
Minimum | LIBOR | Amended CoBank Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			1.50%
Minimum | LIBOR | 2014 Amended Credit Agreement | 2014 Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)		1.50%
Minimum | LIBOR | 2014 Amended Credit Agreement | 2014 Multi Draw Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)		1.75%
Maximum | 2014 Amended Credit Agreement
Debt Instrument [Line Items]
Covenant terms, loan to value ratio (in percent)		45.00%
Maximum | 2014 Amended Credit Agreement | 2014 Multi-Draw and 2014 Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.35%
Maximum | One-Month LIBOR | CoBank Loan | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate (in percent) | Rate				2.75%
Maximum | Base Rate | Amended CoBank Loan | Multi-Draw Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			2.00%
Maximum | Base Rate | Amended CoBank Loan | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			1.75%
Maximum | Base Rate | Amended CoBank Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			1.75%
Maximum | Base Rate | 2014 Amended Credit Agreement | 2014 Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)		1.50%
Maximum | Base Rate | 2014 Amended Credit Agreement | 2014 Multi Draw Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)		1.75%
Maximum | LIBOR | Amended CoBank Loan | Multi-Draw Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			3.00%
Maximum | LIBOR | Amended CoBank Loan | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			2.75%
Maximum | LIBOR | Amended CoBank Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)			2.75%
Maximum | LIBOR | 2014 Amended Credit Agreement | 2014 Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)		2.50%
Maximum | LIBOR | 2014 Amended Credit Agreement | 2014 Multi Draw Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)		2.75%
Revolving Credit Facility | Amended CoBank Loan
Debt Instrument [Line Items]
Maximum additional borrowings allowed under line of credit			$ 10,000,000
Interest Expense [Member] | 2014 Amended Credit Agreement | 2014 Multi-Draw Term Facility and 2014 Term Loan Facility
Debt Instrument [Line Items]
Patronage Refunds					$ 1,300,000

Note Payable and Line of Cred41

Note Payable and Line of Credit - Schedule of Debt Outstanding (Details) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total Principal Balance		$ 185,002	$ 118,000
Less: Net Unamortized Deferred Financing Costs	[1]	(3,955)	(3,827)
Note payable and line of credit, less net deferred financing costs (Note 4)		181,047	114,173
2014 Term Loan Facility
Debt Instrument [Line Items]
Total Principal Balance		100,000	100,000
2014 Multi Draw Term Facility
Debt Instrument [Line Items]
Total Principal Balance		$ 85,002	$ 18,000
[1]	Net Unamortized Deferred Financing Costs represent costs incurred for borrowings under the 2014 Term Loan Facility and the 2014 Multi-Draw Term Facility only. For further information regarding accounting treatment of deferred financing costs, see Note 2 – Summary of Significant Accounting Policies.

Note Payable and Line of Cred42

Note Payable and Line of Credit - Schedule of Interest Payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Interest paid	$ 3,253	$ 1,706	$ 3,027
Secured Debt | CoBank Loan
Debt Instrument [Line Items]
Interest paid	0	0	2,935
Secured Debt | Amended CoBank Loan
Debt Instrument [Line Items]
Interest paid	0	1,706	92
Secured Debt | 2014 Amended Credit Agreement
Debt Instrument [Line Items]
Interest paid	$ 3,253	$ 0	$ 0

Interest Rate Swaps (Details)

Interest Rate Swaps (Details) - Rabobank - Forward Contracts - Designated as Hedging Instrument - USD ($)	Jul. 18, 2014	Dec. 19, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 24, 2014	Oct. 23, 2012
Derivative [Line Items]
Notional amount of interest rate derivatives						$ 35,000,000
Cash payment received from forward swap settlement			$ 800,000	$ 100,000	$ 400,000
Other comprehensive loss recognized due to change in fair value			(565,000)
Amount of ineffectiveness on forward swap			$ 0
One-Month LIBOR
Derivative [Line Items]
Notional amount of interest rate derivatives							$ 80,000,000
Fixed rate on interest rate swap						2.395%	0.9075%
Amount of notional amount of forward swap unwound		$ 47,000,000
Cash payment received from forward swap settlement		$ 100,000
Payment received for cancellation of interest rate swap	$ 200,000

Interest Rate Swaps Interest Ra

Interest Rate Swaps Interest Rate Swaps and Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | Other Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of derivatives designated as hedging instruments, interest rate swap contract	$ (1,420)	$ (856)

Commitments and Contingencies45

Commitments and Contingencies (Details)	12 Months Ended
	Dec. 31, 2015astates$ / a	Dec. 31, 2014	Dec. 31, 2013
Concentration Risk [Line Items]
Number of states reporting raw forest product prices | states	11
Timber agreement termination clause	WestRock can terminate the Mahrt Timber Agreements prior to the expiration of the initial term if CatchMark Timber Trust replaces Forest Resource Consultants, Inc. ("FRC") as the forest manager without the prior written consent of WestRock, except pursuant to an internalization of the company's forestry management functions. CatchMark Timber Trust can terminate the Mahrt Timber Agreements if WestRock (1) ceases to operate the Mahrt mill for a period that exceeds 12 consecutive months, (2) fails to purchase a specified tonnage of timber for two consecutive years, subject to certain limited exceptions or (3) fails to make payments when due (and fails to cure within 30 days). In addition, either party can terminate the Mahrt Timber Agreements if the other party commits a material breach (and fails to cure within 60 days) or becomes insolvent.
Timber Properties
Concentration Risk [Line Items]
Land Subject to Ground Leases	23,800
Property Subject to Operating Lease | Timberland
Concentration Risk [Line Items]
Land Subject to Ground Leases	20,400
Quarterly base rate rental payment (per acre) | $ / a	3.10
Adjusted rental payment rate (per acre) | $ / a	20.64
WestRock Corporation | Customer Concentration Risk | Sales Revenue, Net
Concentration Risk [Line Items]
Concentration risk, percentage	23.00%	34.00%	60.00%
Forest Resource Consultants, Inc. [Member]
Concentration Risk [Line Items]
Operating agreement, term of extension option	1 year
Operating agreement, notice of termination option	120 days
Acres under operating agreement	410,400
American Forestry Management, Inc. [Member]
Concentration Risk [Line Items]
Operating agreement, term of extension option	1 year
Operating agreement, notice of termination option	120 days
Acres under operating agreement	14,600

Commitments and Contingencies

Commitments and Contingencies - Future Minimum Rental Payments (Details) - Property Subject to Operating Lease - Timberland $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies [Line Items]
2,015	$ 647
2,016	647
2,017	647
2,018	542
2,019	542
Thereafter	1,023
Future Minimum Payments Due	$ 4,048

Noncontrolling Interest (Detail

Noncontrolling Interest (Details)	12 Months Ended
	Dec. 31, 2015shares
Subsidiaries
Noncontrolling Interest [Line Items]
Ownership of common unit owned by limited partner (units)	200
Percentage of partnership interests	0.01%
General Partner
Noncontrolling Interest [Line Items]
Percentage of general partnership interest owned by the company in the Operating Partnership common units	99.99%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stockholders Equity Disclosures [Line Items]
Common stock and preferred stock, shares authorized	1,000,000,000
Common stock, shares authorized	900,000,000
Common stock, par value	$ 0.01
Preferred stock, shares authorized	100,000,000
Stock Repurchase Program, Authorized Amount	$ 30,000
Stock Repurchased and Retired During Period, Shares	584,356
Payments for Repurchase of Common Stock	$ 6,004	$ 43	$ 582
Common stock, shares outstanding	38,975,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 24,000
Common Class A
Stockholders Equity Disclosures [Line Items]
Common stock, shares authorized	900,000,000	896,500,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares outstanding	38,975,000	36,193,000

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 02, 2015	Jan. 02, 2014	Oct. 25, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				3 years 2 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized				$ 2,100
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value				$ 100	$ 200	$ 1,800
Weighted average fair value per granted share (in dollars per share)					$ 13.79	$ 13.58
Common Class A | Amended 2005 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized			1,150,000
Director | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per granted share (in dollars per share)				$ 11.92
Director | Amended 2005 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of restricted shares granted in period	$ 50	$ 30
Stock Issued During Period, Shares, Issued for Services				2,392
Forestry Management Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost				$ 200	$ 100	$ 400
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost				$ 700	$ 300	$ 1,500

Stock Based Compensation - Rol

Stock Based Compensation - Rollforward of Unvested Restricted Stock Award Activity (Details) - $ / shares		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Number of Underlying Shares [Roll Forward]
Granted		209,385
Weighted Average Grant Date Fair Value [Abstract]
Granted			$ 13.79	$ 13.58
Director
Number of Underlying Shares [Roll Forward]
Granted	[1]	12,585
Employee
Number of Underlying Shares [Roll Forward]
Granted	[2],[3]	196,800
Restricted Stock | Director
Number of Underlying Shares [Roll Forward]
Unvested at December 31, 2014		13,608
Granted		12,585
Vested		(5,292)
Forfeited		0
Unvested at December 31, 2015		20,901	13,608
Weighted Average Grant Date Fair Value [Abstract]
Unvested at December 31, 2014		$ 14.42
Granted		11.92
Vested		14.38
Forfeited		0
Unvested at December 31, 2015		$ 12.71	$ 14.42
Restricted Stock | Employee
Number of Underlying Shares [Roll Forward]
Unvested at December 31, 2014		91,500
Granted		196,800
Vested		0
Forfeited		(10,200)
Unvested at December 31, 2015		278,100	91,500
Weighted Average Grant Date Fair Value [Abstract]
Unvested at December 31, 2014		$ 13.54
Granted		8.94
Vested		0
Forfeited		13.51
Unvested at December 31, 2015		$ 10.29	$ 13.54
[1]	The service-based restricted stock issued to independent directors vests over three years.
[2]	The performance-based restricted stock awards (the "2015 Performance Awards") represent the maximum number of shares that could be earned by the executive officers based on the relative performance of CatchMark Timber Trust's total stockholder return (the "TSR") as compared to a pre-established peer group's TSR and to the Russell 3000 Index. 50% of the earned award vests on the date it is determined by the Compensation Committee and the remaining 50% vests on the one year anniversary of the determination date.
[3]	The service-based restricted stock issued to employees vests over four years.

Stock Based Compensation - Sha

Stock Based Compensation - Share-based Compensation Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per granted share (in dollars per share)		$ 13.79	$ 13.58
Executive Officer [Member] | Performance-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date market price (February 18, 2015) (in dollars per share)	$ 11.63
Weighted average fair value per granted share (in dollars per share)	$ 7.01
Volatility	38.54%
Expected term (years)	3 years
Risk-free interest rate	1.00%

Stock Based Compensation - Sch

Stock Based Compensation - Schedule of Restricted Stock Granted in the Period (Details)	12 Months Ended
	Dec. 31, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	209,385
Service-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	90,485	[1],[2]
Performance-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	118,900	[3]
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	196,800	[1],[3]
Employee | Service-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	77,900	[1]
Employee | Performance-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	118,900	[3]
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	12,585	[2]
Director | Service-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	12,585	[2]
Director | Performance-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0
Determined date | Employee | Performance-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Rights, Percentage	50.00%
One year from determined date | Employee | Performance-based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Rights, Percentage	50.00%
[1]	The service-based restricted stock issued to employees vests over four years.
[2]	The service-based restricted stock issued to independent directors vests over three years.
[3]	The performance-based restricted stock awards (the "2015 Performance Awards") represent the maximum number of shares that could be earned by the executive officers based on the relative performance of CatchMark Timber Trust's total stockholder return (the "TSR") as compared to a pre-established peer group's TSR and to the Russell 3000 Index. 50% of the earned award vests on the date it is determined by the Compensation Committee and the remaining 50% vests on the one year anniversary of the determination date.

Recreational Leases (Details)

Recreational Leases (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)a	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Deferred Revenue Arrangement [Line Items]
Operating leases terms	1 year
Other Liabilities
Deferred Revenue Arrangement [Line Items]
Deferred rental receipts	$ 1.6	$ 1.5
Property Subject to Operating Lease | Timber Properties
Deferred Revenue Arrangement [Line Items]
Area of Land | a	397,200
Percentage of land leased (in percent)	93.00%
Other Income
Deferred Revenue Arrangement [Line Items]
Recreational lease revenues recognized	$ 3.5	$ 2.7	$ 2.5

Supplemental Disclosures of N54

Supplemental Disclosures of Noncash Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Cash Flow Elements [Abstract]
Write-off of fully amortized deferred financing costs	$ 0	$ 459	$ 1,371
Other liabilities assumed upon acquisition of timberland	$ 0	$ 0	$ 125

Related-Party Transactions an55

Related-Party Transactions and Agreements - Related Party Costs (Details) - Affiliate - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 155	$ 3,651
Advisor fees and expense reimbursements
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	0	3,562
Consulting fees
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	137	50
Office rent
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	18
Disposition fees
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 0	$ 39

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2009	Dec. 31, 2015	Dec. 31, 2014	Jan. 01, 2009
Operating Loss Carryforwards [Line Items]
Built-in gains on land upon REIT election				$ 18.3
Taxable periods of built-in gains upon REIT election	5 years
Tax basis carrying value of assets		$ 571.9	$ 552.9
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		128.8
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		$ 105.6

Income Taxes - Deferred Tax As

Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Net operating loss carryforward	$ 9,468	$ 7,653
Gain on timberland sales	4	0
Other	33	20
Total gross deferred tax asset	9,505	7,673
Valuation allowance	(9,294)	(7,670)
Total net deferred tax asset	211	3
Deferred tax liability:
Timber depletion	211	0
Gain on timberland sales	0	3
Total gross deferred tax liability	211	3
Deferred tax asset, net	$ 0	$ 0

Income Taxes - Effective Incom

Income Taxes - Effective Income Tax Reconciliation (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Federal statutory income tax rate	34.00%	34.00%	34.00%
State income taxes, net of federal benefit	3.13%	3.21%	3.06%
Other temporary differences	0.27%	0.50%	(0.02%)
Write-off of due to affiliates	0.00%	0.00%	0.00%
Other permanent differences	(0.01%)	(0.02%)	21.03%
Valuation allowance	(37.39%)	(37.69%)	(58.07%)
Effective tax rate	0.00%	0.00%	0.00%

Quarterly Results (unaudited)59

Quarterly Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 17,075		$ 17,629		$ 14,174		$ 20,244		$ 20,887		$ 12,653		$ 11,901		$ 8,870		$ 69,122	$ 54,311	$ 32,048
Operating loss (2)	(2,258)		(1,069)		(1,479)		(14)		2,964		(277)		433		(3)		(4,820)	3,118	(8,602)
Net income (loss)	(3,296)		(1,944)		(2,330)		(817)		2,161		(764)		(349)		(388)		(8,387)	660	(13,197)
Net loss available to common stockholders (2)	$ (3,296)		$ (1,944)		$ (2,330)		$ (817)		$ 2,161		$ (764)		$ (349)		$ (388)		$ (8,387)	$ 660	$ (13,557)
Basic and diluted net loss per share available to common stockholders(1) (2)	$ (0.08)	[1],[2]	$ (0.05)	[1],[2]	$ (0.06)	[1],[2]	$ (0.02)	[1],[2]	$ 0.05	[1],[2]	$ (0.02)	[1],[2]	$ (0.01)	[1],[2]	$ (0.02)	[1],[2]	$ (0.21)	$ 0.02	$ (1.03)
[1]	See Note 2 – Summary of Significant Accounting Policies regarding our change in depletion methodology that was effective January 1, 2015
[2]	The sum of the quarterly amounts do not equal income per share for the year ended December 31, 2014 due to the changes in weighted-average shares outstanding over the year

Customer Concentration (Details

Customer Concentration (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
WestRock Corporation | Sales Revenue, Net
Revenue, Major Customer [Line Items]
Concentration risk, percentage	31.00%	39.00%	60.00%

Subsequent Events (Details)

Subsequent Events (Details)	Feb. 18, 2016$ / shares
Common Stock | Subsequent Event
Subsequent Event [Line Items]
Common stock dividend declared (in USD per share)	$ 0.125