2024 Q3 Form 10-Q Financial Statement

#000095017024089741 Filed on August 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $255.1M $320.7M
YoY Change -3.91% 30.3%
Cost Of Revenue $227.6M $282.5M
YoY Change 0.55% 31.34%
Gross Profit $27.58M $38.20M
YoY Change -29.67% 23.07%
Gross Profit Margin 10.81% 11.91%
Selling, General & Admin $20.40M $20.75M
YoY Change 5.7% 18.01%
% of Gross Profit 73.99% 54.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.89M $29.67M
YoY Change -15.54% 7.92%
% of Gross Profit 93.9% 77.68%
Operating Expenses $20.40M $20.75M
YoY Change 5.7% 18.01%
Operating Profit $7.172M $17.45M
YoY Change -80.2% 29.68%
Interest Expense -$9.635M -$8.696M
YoY Change 20.88% 14.23%
% of Operating Profit -134.34% -49.85%
Other Income/Expense, Net $1.716M -$23.00K
YoY Change 363.78% -179.31%
Pretax Income -$747.0K $8.928M
YoY Change -102.63% -68.93%
Income Tax -$4.056M -$4.750M
% Of Pretax Income -53.2%
Net Earnings $3.309M $13.68M
YoY Change -86.02% -38.68%
Net Earnings / Revenue 1.3% 4.27%
Basic Earnings Per Share $0.04 $0.17
Diluted Earnings Per Share $0.04 $0.17
COMMON SHARES
Basic Shares Outstanding 78.91M 79.51M
Diluted Shares Outstanding 79.28M 79.74M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $161.1M $199.7M
YoY Change -46.79% -39.7%
Cash & Equivalents $161.1M $199.7M
Short-Term Investments
Other Short-Term Assets $50.62M $47.13M
YoY Change -10.57% -18.57%
Inventory $79.89M $80.10M
Prepaid Expenses
Receivables $29.55M $29.98M
Other Receivables $0.00 $0.00
Total Short-Term Assets $321.2M $356.9M
YoY Change -32.05% -27.55%
LONG-TERM ASSETS
Property, Plant & Equipment $2.771B $377.1M
YoY Change 728.79% -86.45%
Goodwill
YoY Change
Intangibles $14.31M $14.75M
YoY Change -11.06% -10.76%
Long-Term Investments
YoY Change
Other Assets $200.5M $180.3M
YoY Change -4.37% -21.65%
Total Long-Term Assets $2.986B $3.022B
YoY Change -2.92% -0.25%
TOTAL ASSETS
Total Short-Term Assets $321.2M $356.9M
Total Long-Term Assets $2.986B $3.022B
Total Assets $3.307B $3.379B
YoY Change -6.8% -4.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.29M $16.76M
YoY Change 138.58% -82.56%
Accrued Expenses $46.02M $50.69M
YoY Change -10.4% 1.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $165.1M $175.7M
YoY Change 271.99% 339.34%
Total Short-Term Liabilities $259.9M $275.7M
YoY Change 62.2% 95.52%
LONG-TERM LIABILITIES
Long-Term Debt $869.5M $858.6M
YoY Change -12.49% -13.56%
Other Long-Term Liabilities $101.7M $35.83M
YoY Change 179.73% -68.92%
Total Long-Term Liabilities $971.2M $894.4M
YoY Change -5.7% -19.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $259.9M $275.7M
Total Long-Term Liabilities $971.2M $894.4M
Total Liabilities $1.255B $1.266B
YoY Change -4.13% -1.76%
SHAREHOLDERS EQUITY
Retained Earnings -$432.6M -$398.0M
YoY Change 61.58% 63.84%
Common Stock $2.391B $2.388B
YoY Change 0.44% 0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.052B $2.113B
YoY Change
Total Liabilities & Shareholders Equity $3.307B $3.379B
YoY Change -6.8% -4.07%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $3.309M $13.68M
YoY Change -86.02% -38.68%
Depreciation, Depletion And Amortization $25.89M $29.67M
YoY Change -15.54% 7.92%
Cash From Operating Activities $26.45M $100.6M
YoY Change -35.4% 170.25%
INVESTING ACTIVITIES
Capital Expenditures $32.05M $26.55M
YoY Change 32.27% 153.42%
Acquisitions
YoY Change
Other Investing Activities $6.322M $7.188M
YoY Change -18.02% 60.81%
Cash From Investing Activities -$25.73M -$19.36M
YoY Change 55.74% 222.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -39.94M -61.03M
YoY Change -15.62% 62.87%
NET CHANGE
Cash From Operating Activities 26.45M 100.6M
Cash From Investing Activities -25.73M -19.36M
Cash From Financing Activities -39.94M -61.03M
Net Change In Cash -39.21M 20.19M
YoY Change 71.23% -422.74%
FREE CASH FLOW
Cash From Operating Activities $26.45M $100.6M
Capital Expenditures $32.05M $26.55M
Free Cash Flow -$5.598M $74.03M
YoY Change -133.48% 176.84%

Facts In Submission

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CY2023Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
67856000
CY2024Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
27680000
CY2023Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
36641000
CY2024Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
35830000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
35015000
CY2024Q2 us-gaap Liabilities
Liabilities
1266452000
CY2023Q4 us-gaap Liabilities
Liabilities
1260158000
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
4000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
4000000
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
78902000
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
78902000
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
79365000
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
79365000
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
78902000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
79365000
CY2024Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
2309555000
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
2303992000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-397967000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-315291000
CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
122109000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
103032000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
2112599000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
2171098000
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3379051000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3431256000
us-gaap Profit Loss
ProfitLoss
13373000
us-gaap Profit Loss
ProfitLoss
38566000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
60476000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
59669000
pch Real Estate Cost Of Sales
RealEstateCostOfSales
60617000
pch Real Estate Cost Of Sales
RealEstateCostOfSales
15515000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-8839000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-2215000
us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
2288000
us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
3223000
us-gaap Share Based Compensation
ShareBasedCompensation
5522000
us-gaap Share Based Compensation
ShareBasedCompensation
3856000
pch Gain On Insurance Recoveries On Destroyed Property
GainOnInsuranceRecoveriesOnDestroyedProperty
23110000
pch Interest Received Under Swaps With Other Than Insignificant Financing Element
InterestReceivedUnderSwapsWithOtherThanInsignificantFinancingElement
-14967000
pch Interest Received Under Swaps With Other Than Insignificant Financing Element
InterestReceivedUnderSwapsWithOtherThanInsignificantFinancingElement
-11767000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-5312000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3856000
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
3996000
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
14334000
pch Real Estate Development Expenditures
RealEstateDevelopmentExpenditures
2722000
pch Real Estate Development Expenditures
RealEstateDevelopmentExpenditures
4304000
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2135000
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2304000
pch Proceeds From Insurance Recoveries
ProceedsFromInsuranceRecoveries
1680000
pch Proceeds From Insurance Recoveries
ProceedsFromInsuranceRecoveries
9706000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
116609000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
76357000
pch Payments To Acquire Property Plant And Equipment Additions
PaymentsToAcquirePropertyPlantAndEquipmentAdditions
26603000
pch Payments To Acquire Property Plant And Equipment Additions
PaymentsToAcquirePropertyPlantAndEquipmentAdditions
10135000
pch Payments For Timberlands Reforestation And Roads
PaymentsForTimberlandsReforestationAndRoads
12814000
pch Payments For Timberlands Reforestation And Roads
PaymentsForTimberlandsReforestationAndRoads
10714000
us-gaap Payments To Acquire Timberlands
PaymentsToAcquireTimberlands
31481000
us-gaap Payments To Acquire Timberlands
PaymentsToAcquireTimberlands
1621000
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
13924000
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
10904000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-618000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-664000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-56356000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10902000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
71456000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
71920000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
23905000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
394000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2236000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1955000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-97597000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-74269000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-37344000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8814000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
237688000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
345591000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
200344000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
336777000
pch Capital Expenditures Incurred But Not Yet Paid For Property Plant And Equipment
CapitalExpendituresIncurredButNotYetPaidForPropertyPlantAndEquipment
1177000
pch Capital Expenditures Incurred But Not Yet Paid For Property Plant And Equipment
CapitalExpendituresIncurredButNotYetPaidForPropertyPlantAndEquipment
178000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1912000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2460000
pch Repurchase Of Common Stock Pending Settlement
RepurchaseOfCommonStockPendingSettlement
1107000
pch Repurchase Of Common Stock Pending Settlement
RepurchaseOfCommonStockPendingSettlement
0
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
199723000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
331225000
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
621000
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
5552000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
200344000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
336777000
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
0
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
3200000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
2171098000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-305000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2560000
CY2024Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
229000
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
15925000
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2024Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
35779000
CY2024Q1 pch Other Transactions Net
OtherTransactionsNet
2000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
2153272000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
13678000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2962000
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
25012000
CY2024Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
230000
CY2024Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
3611000
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2024Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
35677000
CY2024Q2 pch Other Transactions Net
OtherTransactionsNet
-5000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
2112599000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
2263153000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
16260000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2279000
CY2023Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
131000
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-17335000
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
35962000
CY2023Q1 pch Other Transactions Net
OtherTransactionsNet
-1000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
2228263000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
22306000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1577000
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
394000
CY2023Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
344000
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
17719000
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2023Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
35958000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
2233169000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">General</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">PotlatchDeltic Corporation and its subsidiaries (collectively referred to in this report as the company, us, we or our) is a leading timberland Real Estate Investment Trust (REIT) with operations in nine states. We are engaged in activities associated with timberland management, including the sale of timber, the ownership and management of over</span><span style="color:#ff0000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">2.1</span><span style="color:#ff0000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">million acres of timberlands and the purchase and sale of timberlands. </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">We are also engaged in the manufacturing and sale of wood products and the development of real estate. Our timberlands, real estate development projects and all of our wood products facilities are located within the continental United States. The primary market for our products is the United States. We converted to a REIT effective January 1, 2006.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p>
CY2024Q2 pch Timber And Timberlands Acres Owned
TimberAndTimberlandsAcresOwned
2100000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The preparation of our </span><span style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Condensed Consolidated Financial Statements</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> in conformity with GAAP requires management to make estimates and requires judgments affecting the amounts reported in the financial statements and the accompanying </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">notes. Actual results may differ materially from our estimates.</span></p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
320671000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
246101000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
548798000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
504063000
CY2024Q2 pch Adjusted Earnings Before Interest Tax Depreciation Depletion And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationDepletionAndAmortization
103173000
CY2023Q2 pch Adjusted Earnings Before Interest Tax Depreciation Depletion And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationDepletionAndAmortization
45445000
pch Adjusted Earnings Before Interest Tax Depreciation Depletion And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationDepletionAndAmortization
132895000
pch Adjusted Earnings Before Interest Tax Depreciation Depletion And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationDepletionAndAmortization
103222000
CY2024Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-8696000
CY2023Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-7613000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-8414000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-7812000
CY2024Q2 pch Depreciation Depletion And Amortization Excluding Bond Discount And Deferred Loan Fees
DepreciationDepletionAndAmortizationExcludingBondDiscountAndDeferredLoanFees
29268000
CY2023Q2 pch Depreciation Depletion And Amortization Excluding Bond Discount And Deferred Loan Fees
DepreciationDepletionAndAmortizationExcludingBondDiscountAndDeferredLoanFees
27087000
pch Depreciation Depletion And Amortization Excluding Bond Discount And Deferred Loan Fees
DepreciationDepletionAndAmortizationExcludingBondDiscountAndDeferredLoanFees
59663000
pch Depreciation Depletion And Amortization Excluding Bond Discount And Deferred Loan Fees
DepreciationDepletionAndAmortizationExcludingBondDiscountAndDeferredLoanFees
58851000
CY2024Q2 pch Real Estate Cost Of Sales
RealEstateCostOfSales
56525000
CY2023Q2 pch Real Estate Cost Of Sales
RealEstateCostOfSales
4884000
pch Real Estate Cost Of Sales
RealEstateCostOfSales
60617000
pch Real Estate Cost Of Sales
RealEstateCostOfSales
15515000
CY2024Q2 pch Asset Acquisition Merger Related Expenses
AssetAcquisitionMergerRelatedExpenses
0
CY2023Q2 pch Asset Acquisition Merger Related Expenses
AssetAcquisitionMergerRelatedExpenses
244000
pch Asset Acquisition Merger Related Expenses
AssetAcquisitionMergerRelatedExpenses
0
pch Asset Acquisition Merger Related Expenses
AssetAcquisitionMergerRelatedExpenses
2453000
CY2024Q2 pch Gain Loss On Insurance Recoveries On Destroyed Property
GainLossOnInsuranceRecoveriesOnDestroyedProperty
0
CY2023Q2 pch Gain Loss On Insurance Recoveries On Destroyed Property
GainLossOnInsuranceRecoveriesOnDestroyedProperty
23110000
pch Gain Loss On Insurance Recoveries On Destroyed Property
GainLossOnInsuranceRecoveriesOnDestroyedProperty
0
pch Gain Loss On Insurance Recoveries On Destroyed Property
GainLossOnInsuranceRecoveriesOnDestroyedProperty
23110000
CY2024Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
-201000
CY2023Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
229000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
-402000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
457000
CY2024Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
66000
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-21000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
71000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-21000
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-23000
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
258000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-168000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
268000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
8928000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
28735000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4506000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
41491000
CY2024Q2 pch Bond Discounts And Deferred Loan Fees
BondDiscountsAndDeferredLoanFees
406000
CY2023Q2 pch Bond Discounts And Deferred Loan Fees
BondDiscountsAndDeferredLoanFees
409000
pch Bond Discounts And Deferred Loan Fees
BondDiscountsAndDeferredLoanFees
813000
pch Bond Discounts And Deferred Loan Fees
BondDiscountsAndDeferredLoanFees
818000
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29674000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27496000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
60476000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
59669000
CY2024Q2 pch Real Estate Cost Of Sales
RealEstateCostOfSales
56525000
CY2023Q2 pch Real Estate Cost Of Sales
RealEstateCostOfSales
4884000
pch Real Estate Cost Of Sales
RealEstateCostOfSales
60617000
pch Real Estate Cost Of Sales
RealEstateCostOfSales
15515000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79627000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80145000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79656000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80087000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79741000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80416000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79756000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80297000
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
34000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
68000
CY2024Q2 pch Inventory Logs
InventoryLogs
32417000
CY2023Q4 pch Inventory Logs
InventoryLogs
39011000
CY2024Q2 pch Inventory Lumber And Other Manufactured Wood Products
InventoryLumberAndOtherManufacturedWoodProducts
39198000
CY2023Q4 pch Inventory Lumber And Other Manufactured Wood Products
InventoryLumberAndOtherManufacturedWoodProducts
34621000
CY2024Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
27162000
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
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InventoryLIFOReserve
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InventoryLIFOReserve
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InventoryNet
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InventoryNet
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710727000
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CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
377060000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
372832000
CY2024Q2 pch Timber And Timberlands Net Of Depletion
TimberAndTimberlandsNetOfDepletion
2302657000
CY2023Q4 pch Timber And Timberlands Net Of Depletion
TimberAndTimberlandsNetOfDepletion
2347300000
CY2024Q2 pch Logging Roads
LoggingRoads
92052000
CY2023Q4 pch Logging Roads
LoggingRoads
93098000
CY2024Q2 pch Timber And Timberlands Net
TimberAndTimberlandsNet
2394709000
CY2023Q4 pch Timber And Timberlands Net
TimberAndTimberlandsNet
2440398000
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
22047000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
24473000
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AccountsPayableCurrent
16760000
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AccountsPayableCurrent
12521000
CY2024Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
15863000
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DeferredRevenueCurrent
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InterestPayableCurrent
8158000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
8344000
CY2024Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
7303000
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
5712000
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
25346000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
20878000
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
95477000
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
82383000
CY2024Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1000000000
CY2024Q2 pch Long Term Debt Current Including Debt Issuance Costs
LongTermDebtCurrentIncludingDebtIssuanceCosts
175700000
CY2024Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-8696000
CY2023Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-7613000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-8414000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-7812000
pch Amortization Of Off Market Designated Hedge
AmortizationOfOffMarketDesignatedHedge
5300000
pch Amortization Of Off Market Designated Hedge
AmortizationOfOffMarketDesignatedHedge
5100000
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
20000000
CY2024Q2 pch Deferred Compensation Stock Equivalent Units Expense Income
DeferredCompensationStockEquivalentUnitsExpenseIncome
49000
CY2023Q2 pch Deferred Compensation Stock Equivalent Units Expense Income
DeferredCompensationStockEquivalentUnitsExpenseIncome
49000
pch Deferred Compensation Stock Equivalent Units Expense Income
DeferredCompensationStockEquivalentUnitsExpenseIncome
98000
pch Deferred Compensation Stock Equivalent Units Expense Income
DeferredCompensationStockEquivalentUnitsExpenseIncome
98000
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2962000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1577000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5522000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3856000
CY2024Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
198000
CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
137000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
357000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
259000
CY2023Q2 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-1000000
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-1000000
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10961000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10169000
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
11757000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
11281000
CY2024Q2 pch Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
22718000
CY2023Q4 pch Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
21450000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2946000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2575000
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
4866000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
4525000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8010000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7590000
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
6815000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
6699000
CY2024Q2 pch Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
22637000
CY2023Q4 pch Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
21389000
CY2024Q2 pch Accumulated Amortization Of Finance Lease Assets
AccumulatedAmortizationOfFinanceLeaseAssets
12200000
CY2023Q4 pch Accumulated Amortization Of Finance Lease Assets
AccumulatedAmortizationOfFinanceLeaseAssets
9600000
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
861000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
796000
us-gaap Operating Lease Cost
OperatingLeaseCost
1700000
us-gaap Operating Lease Cost
OperatingLeaseCost
1682000
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1351000
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1331000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2620000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2562000
CY2024Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
145000
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
113000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
279000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
224000
CY2024Q2 us-gaap Lease Cost
LeaseCost
2357000
CY2023Q2 us-gaap Lease Cost
LeaseCost
2240000
us-gaap Lease Cost
LeaseCost
4599000
us-gaap Lease Cost
LeaseCost
4468000
us-gaap Operating Lease Payments
OperatingLeasePayments
1715000
us-gaap Operating Lease Payments
OperatingLeasePayments
1629000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
279000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
213000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2662000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2817000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2287000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1149000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
3062000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
2111000
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2100000
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2300000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 pch Rule10 B51 Arrmodifiedflag
Rule10B51Arrmodifiedflag
false
CY2024Q2 pch Nonrule10 B51 Arrmodifiedflag
Nonrule10B51Arrmodifiedflag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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FilingSummary.xml Edgar Link unprocessable
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0000950170-24-089741-index.html Edgar Link pending
0000950170-24-089741.txt Edgar Link pending
0000950170-24-089741-xbrl.zip Edgar Link pending
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pch-20240630.htm Edgar Link pending
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pch-ex31.htm Edgar Link pending
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