v3.26.1
PENSION AND OTHER POSTRETIREMENT EMPLOYEE BENEFITS
 6 Months Ended
Jun. 30, 2026
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
PENSION AND OTHER POSTRETIREMENT EMPLOYEE BENEFITS PENSION AND OTHER POSTRETIREMENT EMPLOYEE BENEFITS
The net pension and postretirement benefit costs for the three and six months ended June 30, 2026 and 2025 are presented below:
PensionPostretirement
Three Months Ended
June 30,		Three Months Ended
June 30,
Components of Net Periodic Benefit CostIncome Statement Location2026202520262025
Service CostSelling and general expenses$1,268 — $7 $1 
Service CostCost of sales(57)— — — 
Interest CostOther miscellaneous (expense) income, net3,142 — 200 19 
Expected return on plan assetsOther miscellaneous (expense) income, net(2,864)— — — 
Amortization of lossesOther miscellaneous (expense) income, net— — (2)(2)
Net periodic benefit costOther miscellaneous (expense) income, net$1,489 — $205 $18 
PensionPostretirement
Six Months Ended
June 30,		Six Months Ended
June 30,
Components of Net Periodic Benefit CostIncome Statement Location2026202520262025
Service CostSelling and general expenses$1,850 — $11 $1 
Service CostCost of sales168 — 1 — 
Interest CostOther miscellaneous (expense) income, net5,236 — 340 38 
Expected return on plan assetsOther miscellaneous (expense) income, net(4,773)— — — 
Amortization of lossesOther miscellaneous (expense) income, net— — (3)(3)
Net periodic benefit costOther miscellaneous (expense) income, net$2,481 — $349 $36 
PLANS ASSUMED IN MERGER WITH POTLATCHDELTIC
Upon our merger with PotlatchDeltic Corporation, we assumed one qualified defined benefit pension plan, two nonqualified pension plans, and two other postretirement benefit plans. The expected return on plan assets for the qualified plan assumed is 6.5%. The discount rate used to measure the projected benefit obligation as of January 30, 2026, was 5.65% for the qualified and nonqualified pension plans and 5.50% for the other postretirement benefit plans.
FAIR VALUE OF PENSION PLAN ASSETS AND OBLIGATIONS
Consistent with accounting for the merger as the acquirer in a business combination (see Note 2 — Merger with PotlatchDeltic Corporation), pension assets and benefit obligations for plans assumed from PotlatchDeltic were remeasured to reflect their fair value as of the merger date. This included updating asset values and reviewing discount rates to reflect market conditions as of the date of the merger. The following represents the fair values of these items as of January 30, 2026:
•$181.0 million qualified pension plan assets
•$197.0 million qualified pension plan projected benefit obligation
•$33.9 million nonqualified pension plan projected benefit obligation
•$14.0 million other postretirement accumulated benefit obligation
During the six months ended June 30, 2026, we contributed approximately $2.1 million to the qualified pension plan and expect to make additional required contributions of approximately $5.2 million during the remainder of 2026. The non-qualified plans are unfunded; we paid benefits of approximately $1.1 million directly during the six months ended June 30, 2026 and expect to pay approximately $1.6 million during the remainder of 2026. We paid approximately $0.4 million of other postretirement benefits during the six months ended June 30, 2026 and expect to pay approximately $1.4 million during the remainder of 2026.