TIMBERLAND ACQUISITIONS AND DIVESTITURES	9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
TIMBERLAND ACQUISITIONS AND DIVESTITURES	NOTE 15: TIMBERLAND ACQUISITIONS AND DIVESTITURES Divestitures On October 29, 2026, we announced an agreement to sell 81 thousand acres of Arkansas timberlands for approximately $146 million. The sale is subject to customary closing conditions and is expected to close in fourth quarter 2026. This sale is not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations. In June 2026, we completed the sale of 29 thousand acres of Oregon timberlands for $114 million, which is net of purchase price adjustments and closing costs. As a result of the sale, we recorded a $71 million gain in the Timberlands segment in our Consolidated Statement of Operations. This sale was not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore did not meet the requirements for presentation as discontinued operations. In February 2026, we completed the sale of 108 thousand acres of Virginia timberlands for $192 million, which is net of purchase price adjustments and closing costs. As a result of the sale, we recorded a $58 million gain in the Timberlands segment in our Consolidated Statement of Operations. This sale was not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore did not meet the requirements for presentation as discontinued operations. Acquisitions In August 2025, we completed the purchase of 117 thousand acres of North Carolina and Virginia timberlands for $364 million. We recorded $361 million of timberland assets in "Timber and timberlands at cost, less depletion" and $3 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet. In August 2025, we completed the purchase of approximately 10 thousand acres of Washington timberlands for $95 million. We recorded $94 million of timberland assets in "Timber and timberlands at cost, less depletion" and $1 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet.

TIMBERLAND ACQUISITIONS AND DIVESTITURES

9 Months Ended

Sep. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

TIMBERLAND ACQUISITIONS AND DIVESTITURES

NOTE 15: TIMBERLAND ACQUISITIONS AND DIVESTITURES

Divestitures

On October 29, 2026, we announced an agreement to sell 81 thousand acres of Arkansas timberlands for approximately $146 million. The sale is subject to customary closing conditions and is expected to close in fourth quarter 2026. This sale is not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore does not meet the requirements for presentation as discontinued operations.

In June 2026, we completed the sale of 29 thousand acres of Oregon timberlands for $114 million, which is net of purchase price adjustments and closing costs. As a result of the sale, we recorded a $71 million gain in the Timberlands segment in our Consolidated Statement of Operations. This sale was not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore did not meet the requirements for presentation as discontinued operations.

In February 2026, we completed the sale of 108 thousand acres of Virginia timberlands for $192 million, which is net of purchase price adjustments and closing costs. As a result of the sale, we recorded a $58 million gain in the Timberlands segment in our Consolidated Statement of Operations. This sale was not considered a strategic shift that had, or will have, a major effect on our operations or financial results and therefore did not meet the requirements for presentation as discontinued operations.

Acquisitions

In August 2025, we completed the purchase of 117 thousand acres of North Carolina and Virginia timberlands for $364 million. We recorded $361 million of timberland assets in "Timber and timberlands at cost, less depletion" and $3 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet.

In August 2025, we completed the purchase of approximately 10 thousand acres of Washington timberlands for $95 million. We recorded $94 million of timberland assets in "Timber and timberlands at cost, less depletion" and $1 million of related assets in "Property and equipment, net" on our Consolidated Balance Sheet.