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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2012	Apr. 30, 2012
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1
Trading Symbol	POPE
Entity Registrant Name	POPE RESOURCES LTD PARTNERSHIP
Entity Central Index Key	0000784011
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		4,409,427

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2012	Dec. 31, 2011
Current assets
Partnership cash and cash equivalents	$ 209	$ 249
ORM Timber Funds cash and cash equivalents	934	2,404
Cash and cash equivalents	1,143	2,653
Accounts receivable, net	1,532	1,876
Building and land held for sale	1,258	1,255
Current portion of contracts receivable	13	80
Prepaid expenses and other	795	853
Total current assets	4,741	6,717
Properties and equipment, at cost
Timber and roads, net of accumulated depletion of $73,371 and $71,955	153,149	154,236
Timberland	34,130	34,130
Land held for development	28,615	28,413
Buildings and equipment, net of accumulated depreciation of $6,221 and $6,203	5,924	6,019
Total properties and equipment, at cost	221,818	222,798
Other assets
Contracts receivable, net of current portion	300	409
Other	480	484
Total other assets	780	893
Total assets	227,339	230,408
Current liabilities
Accounts payable	1,380	1,328
Accrued liabilities	1,886	3,021
Current portion of long-term debt	32	32
Deferred revenue	661	447
Other current liabilities	388	468
Total current liabilities	4,347	5,296
Long-term liabilities
Long-term debt, net of current portion	45,689	45,793
Other long-term liabilities	2,136	2,161
Partners' capital and noncontrolling interests
General partners' capital (units issued and outstanding 60 and 60)	1,064	1,063
Limited partners' capital (units issued and outstanding 4,291 and 4,269)	74,484	74,696
Noncontrolling interests	99,619	101,399
Total partners' capital and noncontrolling interests	175,167	177,158
Total liabilities, partners' capital, and noncontrolling interests	$ 227,339	$ 230,408

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2012	Dec. 31, 2011
Timber and roads, accumulated depletion	$ 73,371	$ 71,955
Buildings and equipment, accumulated depreciation	$ 6,221	$ 6,203
General partners' capital, units issued	60	60
General partners' capital, units outstanding	60	60
Limited partners' capital, units issued	4,291	4,269
Limited partners' capital, units outstanding	4,291	4,269

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2012 USD ($) $ / shares $ / PartnershipUnit shares	Mar. 31, 2011 USD ($) $ / shares $ / PartnershipUnit shares
Revenue	$ 8,804	$ 17,674
Cost of timber and land sold	(4,141)	(8,856)
Operating expenses	(2,429)	(2,978)
General and administrative expenses	(1,164)	(1,078)
Income from operations	1,070	4,762
Other income (expense)
Interest expense	(530)	(574)
Capitalized interest	130	98
Interest income	7	12
Total other expense	(393)	(464)
Income before income taxes	677	4,298
Income tax benefit (expense)	36	(56)
Net income	713	4,242
Other comprehensive income adjustments
Other comprehensive income	713	4,242
Plus: Comprehensive (income) loss attributable to noncontrolling interests ORM Timber Funds	493	(562)
Comprehensive income attributable to unitholders	1,206	3,680
Allocable to general partners	17	51
Allocable to limited partners	1,189	3,629
Comprehensive income attributable to unitholders	$ 1,206	$ 3,680
Earnings per unit attributable to unitholders
Basic \| $ / PartnershipUnit	0.27	0.82
Diluted \| $ / PartnershipUnit	0.27	0.82
Weighted average units outstanding
Basic \| shares	4,345	4,306
Diluted \| shares	4,347	4,309
Distributions per unit \| $ / shares	$ 0.35	$ 0.25

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Net income	$ 713	$ 4,242
Adjustments to reconcile net income to net cash provided by operating activities
Depletion	1,386	3,292
Capitalized development activities, net of reimbursements	(205)	(252)
Equity-based compensation	371	227
Depreciation and amortization	170	173
Deferred taxes	(23)
Cash flows from changes in operating accounts
Accounts receivable, net	344	(1,161)
Contracts receivable	176	298
Prepaid expenses and other current assets	73	35
Accounts payable and accrued liabilities	(1,083)	745
Deferred revenue	214	11
Other current liabilities	(80)	21
Other long-term liabilities	(25)	(25)
Other, net	(7)	1
Net cash provided by operating activities	2,024	7,607
Cash flows from investing activities
Reforestation and roads	(329)	(243)
Buildings and equipment	(43)	(158)
Proceeds from fixed asset sale	18
ORM Timber Fund II, Inc. land acquisition		(140)
Net cash used in investing activities	(354)	(541)
Cash flows from financing activities
Repayment of line of credit, net	(96)	(4,320)
Repayment of long-term debt	(8)	(7)
Proceeds from option exercises	12	525
Payroll taxes paid upon restricted unit vesting	(257)	(226)
Cash distributions to unitholders	(1,544)	(1,094)
Cash distributions - ORM Timber Funds, net of distributions to Partnership	(1,287)	(2,500)
Net cash used in financing activities	(3,180)	(7,622)
Net decrease in cash and cash equivalents	(1,510)	(556)
Cash and cash equivalents at beginning of period	2,653	2,423
Cash and cash equivalents at the end of the three-month period	$ 1,143	$ 1,867

Organization, Consolidation and Presentation of Financial Statements Disclosure

3 Months Ended

Mar. 31, 2012

Organization, Consolidation and Presentation of Financial Statements Disclosure

The condensed consolidated financial statements as of March 31, 2012 and December 31, 2011 and for the three-month periods then ended have been prepared by Pope Resources, A Delaware Limited Partnership (the “Partnership”) pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). The condensed consolidated financial statements are unaudited, but, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments and accruals) necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods. The financial information as of December 31, 2011, is derived from the Partnership’s audited consolidated financial statements and notes thereto for the year ended December 31, 2011, and should be read in conjunction with such financial statements and notes. The results of operations for the interim periods are not indicative of the results of operations that may be achieved for the entire fiscal year ending December 31, 2012.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
-Publisher AICPA
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name FASB Interpretation (FIN)
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-Number 46R
-Paragraph 4, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Significant Accounting Policies

3 Months Ended

Mar. 31, 2012

Significant Accounting Policies

2.	The financial statements in the Partnership's 2011 annual report on Form 10-K include a summary of significant accounting policies of the Partnership and should be read in conjunction with this Quarterly Report on Form 10-Q.

Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share

Basic net earnings per unit are calculated by dividing net income attributable to unitholders, adjusted for non-forfeitable distributions paid out to unvested restricted unitholders and Fund II preferred shareholders, by the weighted average units outstanding during the period. Diluted net earnings per unit are calculated by dividing net income attributable to unitholders, adjusted for non-forfeitable distributions paid out to unvested restricted unitholders and Fund II preferred shareholders, by the weighted average units outstanding during the year plus additional units that would have been outstanding assuming the exercise of in-the-money unit equivalents using the treasury stock method, unless the assumed exercise is antidilutive.

The table below displays how we arrived at options used to calculate dilutive unit equivalents and subsequent treatment of dilutive unit equivalents based on net income for the period:

	Quarter Ended
	March 31,
(in thousands)	2012		2011
Average per unit trading price	$	43.64	$	41.70
Options used in calculation of dilutive unit equivalents		5		7

Net income attributable to Pope Resources’ unitholders	$	1,206	$	3,680
Dilutive unit equivalents used to calculate dilutive EPS		2		3

The following table shows how we arrived at basic and diluted income per unit:

	Quarter Ended
	March 31,
(in thousands)	2012			2011
Net income attributable to Pope Resources' unitholders	$	1,206		$	3,680
Less:
Net income attributable to unvested restricted unitholders		(21	)		(142	)
Dividends paid to Fund II preferred shareholders		(4	)		(4	)
Net income for calculation of EPS	$	1,181		$	3,534

Weighted average units outstanding (in thousands):
Basic		4,345			4,306
Dilutive effect of unit equivalents		2			3
Diluted		4,347			4,309

Earnings per unit: Basic	$	0.27		$	0.82
Earnings per unit: Diluted	$	0.27		$	0.82

Options to purchase 4,500 units for a weighted exercise price of $17.40 were outstanding at March 31, 2012. Options to purchase 6,500 units at prices ranging from $10.75 to $17.40 per unit were outstanding as of March 31, 2011. There were no out-of-the money options to exclude from the calculation of dilutive unit equivalents for the quarters ended March 31, 2012 and 2011.

Stock Based Compensation

3 Months Ended

Mar. 31, 2012

Stock Based Compensation

In January 2012, the Partnership granted 20,350 restricted units pursuant to the management incentive compensation program. These restricted units vest ratably over four years with the grant date fair value equal to the market place on the date of grant. We recognized $147,000 and $107,000 of equity compensation expense in the first quarters of 2012 and 2011, respectively, related to restricted units granted pursuant to the management incentive compensation program. Simultaneous with the restricted unit grant to management, members of our Board of Directors received 6,000 restricted units in January 2012. Restricted units granted to directors are not part of the management incentive compensation program, but are included in the calculation of total equity compensation expense. These awards to directors vest 50% on the third anniversary and 50% on the fourth anniversary of the date of grant. Total equity compensation expense is recognized over the shorter of the vesting period or the period from date of grant to the point of retirement eligibility. For the first quarters of 2012 and 2011, equity compensation expense was $371,000 and $227,000 respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

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-Name Accounting Standards Codification
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-SubTopic 50
-Section 50
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+ Details

Cash Flow, Supplemental Disclosures

3 Months Ended

Mar. 31, 2012

Cash Flow, Supplemental Disclosures

Supplemental disclosure of cash flow information: interest paid, net of amounts capitalized, totaled $274,000 and $430,000 for the quarter ended March 31, 2012 and 2011, respectively. Income taxes paid in the first three months of 2012 was $209,000 compared to $29,000 of income taxes paid in the first three months of 2011.

Fair Value Disclosures

3 Months Ended

Mar. 31, 2012

Fair Value Disclosures

The Partnership’s financial instruments included cash and cash equivalents and accounts receivable, for which the carrying amount of each represents fair value based on current market interest rates or their short-term nature. Carrying amounts of contracts receivable, although long-term, also approximate fair value. Pursuant to accounting guidance, these instruments for the period presented are considered a Level 1 fair value measurement.

The Partnership's long-term debt is not actively traded and, as such, fair values were estimated using discounted cash flow analyses, based on the Partnership’s current estimated incremental borrowing rates for similar types of borrowing arrangements, which are considered Level 3 inputs. As of March 31, 2012 and December 31, 2011, consolidated fixed-rate debt outstanding had a fair value of approximately $45.6 million and $46.6 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-Subparagraph a, b
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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+ Details

Partners' Capital Notes Disclosure

3 Months Ended

Mar. 31, 2012

Partners' Capital Notes Disclosure

7.	The Partnership has two general partners: Pope MGP, Inc. and Pope EGP, Inc. In total, these two entities own 60,000 partnership units. The allocation of distributions and loss between the general and limited partners is pro rata across all units outstanding.

- Definition

The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units.

+ References + Details

Segment Reporting Disclosure

3 Months Ended

Mar. 31, 2012

Segment Reporting Disclosure

In the presentation of the Partnership’s revenue and operating income (loss) by segment all intersegment revenue and expense is eliminated to determine externally reported operating income (loss) by business segment. The tables that follow reconcile internally reported income (loss) from operations to externally reported income (loss) from operations by business segment, for the three months ended March 31, 2012 and 2011:

	Fee Timber									Timberland
Three Months Ended	Pope Resources			ORM Timber			Total Fee			Management &			Real
March 31, (in thousands)	Timber			Funds			Timber			Consulting			Estate			Other			Consolidated
2012
Revenue internal	$	7,108		$	1,536		$	8,644		$	476		$	311		$	-		$	9,431
Eliminations		(139	)		-			(139	)		(476	)		(12	)		-			(627	)
Revenue external		6,969			1,536			8,505			-			299			-			8,804

Cost of timber and land sold		(2,945	)		(1,196	)		(4,141	)		-			-			-			(4,141	)

Operating, general and
administrative expenses internal		(873	)		(804	)		(1,677	)		(523	)		(856	)		(1,164	)		(4,220	)
Eliminations		12			476			488			139			-			-			627
Operating, general and
administrative expenses external		(861	)		(328	)		(1,189	)		(384	)		(856	)		(1,164	)		(3,593	)

Income (loss) from operations
internal		3,290			(464	)		2,826			(47	)		(545	)		(1,164	)		1,070
Eliminations		(127	)		476			349			(337	)		(12	)		-			-
Income (loss) from operations
external	$	3,163		$	12		$	3,175		$	(384	)	$	(557	)	$	(1,164	)	$	1,070

2011
Revenue internal	$	11,440		$	6,136		$	17,576		$	567		$	227		$	-		$	18,370
Eliminations		(117	)		-			(117	)		(567	)		(12	)		-			(696	)
Revenue external		11,323			6,136			17,459			-			215			-			17,674

Cost of timber and land sold		(4,508	)		(4,348	)		(8,856	)		-			-			-			(8,856	)

Operating, general and
administrative expenses internal		(1,168	)		(890	)		(2,058	)		(544	)		(1,072	) *		(1,078	)		(4,752	)
Eliminations		15			567			582			114			-			-			696
Operating, general and
administrative expenses external		(1,153	)		(323	)		(1,476	)		(430	)		(1,072	)		(1,078	)		(4,056	)

Income (loss) from operations
internal		5,764			898			6,662			23			(845	)		(1,078	)		4,762
Eliminations		(102	)		567			465			(453	)		(12	)		-			-
Income (loss) from operations
external	$	5,662		$	1,465		$	7,127		$	(430	)	$	(857	)	$	(1,078	)	$	4,762

*Includes $267,000 of environmental remediation expense

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 34
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-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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+ Details

BALANCE SHEET OF PARTNERSHIP CO-INVESTMENTS

3 Months Ended

Mar. 31, 2012

BALANCE SHEET OF PARTNERSHIP CO-INVESTMENTS

ORM Timber Fund I, LP (Fund I), ORM Timber Fund II, Inc. (Fund II), and ORM Timber Fund III (REIT) Inc., (Fund III, and collectively with Fund I and Fund II, the Funds) were formed by Olympic Resource Management LLC (ORMLLC), a wholly owned subsidiary of Pope Resources, for the purpose of attracting capital to purchase timberlands. The objective of these Funds is to generate a return on investments through the acquisition, management, value enhancement and sale of timberland properties. Each Fund will operate for a term of ten years from the end of the drawdown period, with Fund I terminating in August 2017, Fund II terminating in March 2021, and Fund III with an as-yet-undefined term because its drawdown period is still open. Fund III will also have a term of 10 years following the end of the drawdown period. The drawdown period will end at the earlier of placement of all committed capital or 3 years from the date of the final close which is expected by June 30, 2012.

Pope Resources and ORMLLC together own 20% of Fund I and Fund II and will own between 5% and 10% of Fund III. The Funds are consolidated into the Partnership’s financial statements. The Funds’ statements of operations for the quarters ended March 31, 2012 and March 31, 2011 reflect income of $12,000 and $1.5 million, respectively. These operating results exclude management fees paid to ORMLLC of $476,000 and $567,000 for the first quarters of 2012 and 2011, respectively, which are eliminated in consolidation.

The Partnership’s consolidated balance sheet included assets and liabilities of the Funds as of March 31, 2012 and December 31, 2011, which were as follows:

(in thousands)	March 31, 2012		December 31, 2011
Assets:
Cash	$	934	$	2,404
Other current assets		156		546
Total current assets		1,090		2,950
Timber, timberland and roads (net of $14,415 and $13,729 of accumulated depletion in 2012 and 2011)		135,750		136,313
Other long-term assets		122		126
Total assets	$	136,962	$	139,389
Liabilities and equity:
Current liabilities excluding long-term debt	$	1,317	$	1,525
Current portion of long-term debt		32		32
Long-term debt		11,028		11,036
Total liabilities		12,377		12,593
Funds' equity		124,585		126,796
Total liabilities and equity	$	136,962	$	139,389

Commitments And Contingencies Disclosure

3 Months Ended

Mar. 31, 2012

Commitments And Contingencies Disclosure

10.

The Partnership has an accrual for estimated environmental remediation costs of $2.1 million as of March 31, 2012 and $2.2 million as of December 31, 2011. The environmental remediation liability represents estimated payments to be made to monitor and remedy certain areas in and around the townsite and millsite at Port Gamble, Washington, and at Port Ludlow, Washington.

The environmental liability at March 31, 2012 includes an estimate of $175,000 that management expects to expend in the next 12 months and $2.0 million thereafter. Statistical models have been used to estimate the liability and suggest a potential aggregate range of loss from zero to $4.8 million which represents a two-standard-deviation range from the mean of possible outcomes generated by the Monte Carlo simulation model.

The Washington State Department of Ecology (DOE) is continuing to make progress toward the completion of an updated Remedial Investigation and Feasibility Study (RI/FS) related to the Port Gamble remediation site. DOE now expects issuance of a final RI/FS in the second or third quarter of 2012. Development of a clean-up action plan and consent decree, with timetables and financial arrangements for completing the remediation, would follow on the heels of achieving that milestone.

During the first quarter of 2012, tests were performed to evaluate suitability and effectiveness of a remediation method within the resort community of Port Ludlow. A draft report has been issued and circulated for comments by environmental remediation consultants and legal counsel. We will continue monitoring the site with the intent to obtain data that point toward feasibility of remedies if and when appropriate.

- Definition

The entire disclosure for environmental loss contingencies, such as presence of hazardous waste, relevant information from reports issued by regulators, and estimated costs to achieve compliance with regulatory requirements. This element may be used for all of an entity's disclosures about environmental loss contingencies.

+ References + Details