PotlatchDeltic Corp 2024年度报告

FINANCIAL INFORMATION PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) with ownership of 2.1 million acres oftimberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary,the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate developmentbusiness and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest management, is committed to corporateresponsibility. More information can be found at www.potlatchdeltic.com. UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549 Form 10-K (Mark One)ցANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2024 տTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto (Exact name of registrant as specified in its charter) Registrant’s telephone number, including area code: (509) 835-1500 Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.ցYesտNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subjectto such filing requirements for the past 90 days.ցYesտNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).ցYesտNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.տ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its audit report.ց If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant includedin the filing reflect the correction of an error to previously issued financial statements.տ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedFRPSHQVDWLRQUHFHLYHGE\DQ\RIWKHUHJLVWUDQW¶VH[HFXWLYHRႈFHUVGXULQJWKHUHOHYDQWUHFRYHU\SHULRGSXUVXDQWWR†'-1(b).տ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).տYesցNo The aggregate market value of the common stock held by non-affiliates of the registrant at June 30, 2024, was approximately $3,076.2 million,based on the closing price of $39.39 per share. As of February 10, 2025, 78,788 shares (in thousands) of the registrant's common stock, par value $1 per share, were outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the definitive proxy statement for the 2025 annual meeting of stockholders expected to be filed with the Commission on or aboutMarch 27, 2025, are incorporated by reference in Part III hereof. POTLATCHDELTIC CORPORATION AND CONSOLIDATED SUBSIDIARIES Table of Contents PART I ITEM 1.BUSINESS3ITEM 1A. RISK FACTORS16ITEM 1B. UNRESOLVED STAFF COMMENTS29ITEM 1CCYBERSECURITY29ITEM 2.PROPERTIES31ITEM 3.LEGAL PROCEEDINGS31ITEM 4.MINE SAFETY DISCLOSURES31 PART IIITEM 5.MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDERMATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES31ITEM 6.RESERVED32ITEM 7.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION ANDRESULTS OF OPERATIONS33ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK45ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA47Consolidated Statements of Operations49Consolidated Statements of Comprehensive Income50Consolidated Balance Sheets51Consolidated Statements of Cash Flows52Consolidated Statements of Stockholders' Equity53Index for Notes to Consolidated Financial Statements54Notes to