View Filing Data

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Jul. 30, 2012
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
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		4,411,692

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Current assets
Partnership cash and cash equivalents	$ 231	$ 249
ORM Timber Funds cash and cash equivalents	1,647	2,404
Cash and cash equivalents	1,878	2,653
Accounts receivable, net	2,443	1,876
Building and land held for sale	1,279	1,255
Current portion of contracts receivable	13	80
Prepaid expenses and other	864	853
Total current assets	6,477	6,717
Properties and equipment, at cost
Timber and roads, net of accumulated depletion of $77,149 and $71,955	149,754	154,236
Timberland	34,130	34,130
Land held for development	28,871	28,413
Buildings and equipment, net of accumulated depreciation of $5,892 and $6,203	5,812	6,019
Total properties and equipment, at cost	218,567	222,798
Other assets
Contracts receivable, net of current portion	297	409
Other	342	484
Total other assets	639	893
Total assets	225,683	230,408
Current liabilities
Accounts payable	2,150	1,328
Accrued liabilities	2,269	3,021
Current portion of environmental remediation	833	240
Current portion of long-term debt	32	32
Deferred revenue	562	447
Other current liabilities	234	228
Total current liabilities	6,080	5,296
Long-term liabilities
Long-term debt, net of current portion	42,952	45,793
Environmental remediation	13,624	1,964
Other long-term liabilities	172	197
Partners' capital and noncontrolling interests
General partners' capital (units issued and outstanding 60 and 60)	911	1,063
Limited partners' capital (units issued and outstanding 4,293 and 4,269)	63,461	74,696
Noncontrolling interests	98,483	101,399
Total partners' capital and noncontrolling interests	162,855	177,158
Total liabilities and equity	$ 225,683	$ 230,408

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Timber and roads, accumulated depletion	$ 77,149	$ 71,955
Buildings and equipment, accumulated depreciation	$ 5,892	$ 6,203
General partners' capital, units issued	60	60
General partners' capital, units outstanding	60	60
Limited partners' capital, units issued	4,293	4,269
Limited partners' capital, units outstanding	4,293	4,269

Condensed Consolidated Statement Of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenue	$ 17,790	$ 14,269	$ 26,594	$ 31,943
Cost of timber and land sold	(10,355)	(7,061)	(14,496)	(15,917)
Operating expenses	(3,081)	(2,507)	(5,510)	(5,218)
Real estate environmental remediation	(12,500)	(77)	(12,500)	(344)
General and administrative expenses	(1,004)	(1,164)	(2,168)	(2,242)
Income (loss) from operations	(9,150)	3,460	(8,080)	8,222
Other income (expense)
Interest expense	(520)	(541)	(1,050)	(1,115)
Capitalized interest	139	108	269	206
Interest income	6	10	13	22
Total other expense	(375)	(423)	(768)	(887)
Income (loss) before income taxes	(9,525)	3,037	(8,848)	7,335
Income tax expense	(170)	(83)	(134)	(139)
Net income (loss)	(9,695)	2,954	(8,982)	7,196
Plus: (Income) loss attributable to noncontrolling interests ORM Timber Funds	400	333	893	(229)
Net income (loss) attributable to unitholders	(9,295)	3,287	(8,089)	6,967
Other comprehensive income adjustments
Comprehensive income (loss) attributable to unitholders	(9,295)	3,287	(8,089)	6,967
Allocable to general partners	(128)	46	(112)	97
Allocable to limited partners	(9,167)	3,241	(7,977)	6,870
Comprehensive income (loss) attributable to unitholders	$ (9,295)	$ 3,287	$ (8,089)	$ 6,967
Earnings (loss) per unit attributable to unitholders
Basic	$ (2.14)	$ 0.73	$ (1.87)	$ 1.55
Diluted	$ (2.14)	$ 0.73	$ (1.87)	$ 1.55
Weighted average units outstanding
Basic	4,351	4,329	4,348	4,318
Diluted	4,351	4,331	4,348	4,320
Distributions per unit	$ 0.45	$ 0.25	$ 0.80	$ 0.50

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Net income (loss)	$ (8,982)	$ 7,196
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion	5,133	5,897
Timber depletion on land sale		150
Capitalized development activities, net of reimbursements	(482)	(493)
Equity-based compensation	519	592
Depreciation and amortization	337	351
Deferred taxes	17	43
Cost of land sold		89
Cash flows from changes in operating accounts
Accounts receivable, net	(567)	(273)
Contracts receivable	179	128
Prepaid expenses and other current assets	118	189
Accounts payable and accrued liabilities	70	6
Deferred revenue	115	(61)
Other current liabilities	6	51
Environmental remediation	12,253	(173)
Other long-term liabilities	(25)	(24)
Other, net	(15)	(1)
Net cash provided by operating activities	8,676	13,667
Cash flows from investing activities
Reforestation and roads	(712)	(488)
Buildings and equipment	(64)	(3,463)
Proceeds from fixed asset sale	33
ORM Timber Fund II, Inc. land acquisition		(140)
Net cash used in investing activities	(743)	(4,091)
Cash flows from financing activities
Repayment of line of credit, net	(2,824)	(4,287)
Repayment of long-term debt	(17)	(15)
Debt issuance costs	(28)
Proceeds from option exercises	12	516
Payroll taxes paid upon restricted unit vesting/option exercises	(300)	(226)
Cash distributions to unitholders	(3,528)	(2,191)
Cash distributions - ORM Timber Funds, net of distributions to Partnership	(2,141)	(3,312)
Capital call - ORM Timber Fund II, Inc.	118
Net cash used in financing activities	(8,708)	(9,515)
Net decrease in cash and cash equivalents	(775)	61
Cash and cash equivalents at beginning of period	2,653	2,423
Cash and cash equivalents at the end of the six-month period	$ 1,878	$ 2,484

Organization, Consolidation and Presentation of Financial Statements Disclosure

6 Months Ended

Jun. 30, 2012

Organization, Consolidation and Presentation of Financial Statements Disclosure

The condensed consolidated statements of position as of June 30, 2012 and December 31, 2011 and the results of operations for the three- and six-month periods ending June 30, 2012 and 2011 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

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-Publisher AICPA
-Name Statement of Position (SOP)
-Number 94-6
-Paragraph 10
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+ Details

Significant Accounting Policies

6 Months Ended

Jun. 30, 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

6 Months Ended

Jun. 30, 2012

Earnings Per Share

Basic net earnings (loss) per unit are calculated by dividing net income (loss) 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 (loss) 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 following table shows how we arrived at basic and diluted income (loss) per unit:

	Quarter Ended						Six Months Ended
	June 30,						June 30,
(in thousands)	2012			2011			2012			2011
Net income (loss) attributable to Pope Resources' unitholders	$	(9,295	)	$	3,287		$	(8,089	)	$	6,967
Less:
Net income attributable to unvested restricted unitholders		(27	)		(131	)		(47	)		(277	)
Dividends paid to Fund II preferred shareholders		(4	)		(4	)		(8	)		(8	)
Net income (loss) for calculation of EPS	$	(9,326	)	$	3,152		$	(8,144	)	$	6,682

Weighted average units outstanding (in thousands):
Basic		4,351			4,329			4,348			4,318
Dilutive effect of unit equivalents		-			2			-			2
Diluted		4,351			4,331			4,348			4,320

Earnings (loss) per unit: Basic	$	(2.14	)	$	0.73		$	(1.87	)	$	1.55
Earnings (loss) per unit: Diluted	$	(2.14	)	$	0.73		$	(1.87	)	$	1.55

As of June 30, 2012 there were no outstanding unexercised options. Options to purchase 5,500 units at prices ranging from $10.75 to $17.40 per unit were outstanding as of June 30, 2011. There were no out-of-the money options to exclude from the calculation of dilutive unit equivalents for the quarter or six months ended June 30, 2011.

Stock Based Compensation

6 Months Ended

Jun. 30, 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 price on the date of grant. We recognized $275,000 and $152,000 of equity compensation expense in the first half 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 the date of grant to the point of retirement eligibility. For the first half of 2012 and 2011, equity compensation expense was $519,000 and $592,000, 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

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-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

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-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
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+ Details

Cash Flow, Supplemental Disclosures

6 Months Ended

Jun. 30, 2012

Cash Flow, Supplemental Disclosures

Supplemental disclosure of cash flow information: interest paid, net of amounts capitalized, totaled $718,000 and $873,000 for the first six months ended June 30, 2012 and 2011, respectively. Income taxes paid were $247,000 and $33,000 for the six months ended June 30, 2012 and 2011, respectively, due to increased taxable income from the preceding year in corporate subsidiaries.

Fair Value Disclosures

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures

The Partnership’s financial instruments include 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.

The carrying value of the Partnership’s and Funds’ fixed-rate debt having a carrying value of $40.9 million as of June 30, 2012 and December 31, 2011 has been estimated based on current interest rates for similar instruments, Level 2 inputs in the Fair Value Hierarchy, to be approximately $46.3 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
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+ Details

Partners' Capital Notes Disclosure

6 Months Ended

Jun. 30, 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

6 Months Ended

Jun. 30, 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 quarters and six months ended June 30, 2012 and 2011:

	Fee Timber									Timberland
Three Months Ended	Pope Resources			ORM Timber			Total Fee			Management &			Real
June 30, (in thousands)	Timber			Funds			Timber			Consulting			Estate				Other			Consolidated
2012
Revenue internal	$	11,767		$	5,819		$	17,586		$	612		$	352			$	-		$	18,550
Eliminations		(136	)		-			(136	)		(612	)		(12	)			-			(760	)
Revenue external		11,631			5,819			17,450			-			340				-			17,790

Cost of timber and land sold		(5,407	)		(4,947	)		(10,354	)		-			(1	)			-			(10,355	)

Operating, general and
administrative expenses internal		(1,113	)		(1,198	)		(2,311	)		(559	)		(13,471	)	*		(1,004	)		(17,345	)
Eliminations		12			612			624			136			-				-			760
Operating, general and
administrative expenses external		(1,101	)		(586	)		(1,687	)		(423	)		(13,471	)	*		(1,004	)		(16,585	)

Income (loss) from operations
internal		5,247			(326	)		4,921			53			(13,120	)			(1,004	)		(9,150	)
Eliminations		(124	)		612			488			(476	)		(12	)			-			-
Income (loss) from operations
external	$	5,123		$	286		$	5,409		$	(423	)	$	(13,132	)		$	(1,004	)	$	(9,150	)

2011
Revenue internal	$	7,144		$	4,300		$	11,444		$	522		$	2,942			$	-		$	14,908
Eliminations		(105	)		-			(105	)		(522	)		(12	)			-			(639	)
Revenue external		7,039			4,300			11,339			-			2,930				-			14,269

Cost of timber and land sold		(3,030	)		(3,687	)		(6,717	)		-			(344	)			-			(7,061	)

Operating, general and
administrative expenses internal		(942	)		(900	)		(1,842	)		(459	)		(922	)	**		(1,164	)		(4,387	)
Eliminations		12			522			534			105			-				-			639
Operating, general and
administrative expenses external		(930	)		(378	)		(1,308	)		(354	)		(922	)	**		(1,164	)		(3,748	)

Income (loss) from operations
internal		3,172			(287	)		2,885			63			1,676				(1,164	)		3,460
Eliminations		(93	)		522			429			(417	)		(12	)			-			-
Income (loss) from operations
external	$	3,079		$	235		$	3,314		$	(354	)	$	1,664			$	(1,164	)	$	3,460

*Includes $12.5 MM of environmental remediation expense
**Includes $77,000 of environmental remediation expense

	Fee Timber									Timberland
Six Months Ended	Pope Resources			ORM Timber			Total Fee			Management &			Real
June 30, (in thousands)	Timber			Funds			Timber			Consulting			Estate				Other			Consolidated
2012
Revenue internal	$	18,875		$	7,355		$	26,230		$	1,088		$	663			$	-		$	27,981
Eliminations		(275	)		-			(275	)		(1,088	)		(24	)			-			(1,387	)
Revenue external		18,600			7,355			25,955			-			639				-			26,594

Cost of timber and land sold		(8,352	)		(6,143	)		(14,495	)		-			(1	)			-			(14,496	)

Operating, general and
administrative expenses internal		(1,986	)		(2,002	)		(3,988	)		(1,082	)		(14,327	)	*		(2,168	)		(21,565	)
Eliminations		24			1,088			1,112			275			-				-			1,387
Operating, general and
administrative expenses external		(1,962	)		(914	)		(2,876	)		(807	)		(14,327	)	*		(2,168	)		(20,178	)

Income (loss) from operations
internal		8,537			(790	)		7,747			6			(13,665	)			(2,168	)		(8,080	)
Eliminations		(251	)		1,088			837			(813	)		(24	)			-			-
Income (loss) from operations
external	$	8,286		$	298		$	8,584		$	(807	)	$	(13,689	)		$	(2,168	)	$	(8,080	)

2011
Revenue internal	$	18,584		$	10,436		$	29,020		$	1,089		$	3,169			$	-		$	33,278
Eliminations		(222	)		-			(222	)		(1,089	)		(24	)			-			(1,335	)
Revenue external		18,362			10,436			28,798			-			3,145				-			31,943

Cost of timber and land sold external		(7,538	)		(8,035	)		(15,573	)		-			(344	)			-			(15,917	)

Operating, general and
administrative expenses internal		(2,110	)		(1,790	)		(3,900	)		(1,003	)		(1,994	)	**		(2,242	)		(9,139	)
Eliminations		27			1,089			1,116			219			-				-			1,335
Operating, general and
administrative expenses external		(2,083	)		(701	)		(2,784	)		(784	)		(1,994	)	**		(2,242	)		(7,804	)

Income (loss) from operations
internal		8,936			611			9,547			86			831				(2,242	)		8,222
Eliminations		(195	)		1,089			894			(870	)		(24	)			-			-
Income (loss) from operations
external	$	8,741		$	1,700		$	10,441		$	(784	)	$	807			$	(2,242	)	$	8,222

*Includes $12.5 MM of environmental remediation expense
**Includes $344,000 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 Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: 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.

+ Details

Balance Sheet Of Partnership Co-Investments

6 Months Ended

Jun. 30, 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 respective 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 remains open. Fund III’s drawdown period will end at the earlier of placement of all committed capital or 3 years from the date of the final close, which was on July 31, 2012.

Pope Resources and ORMLLC together own 20% of Fund I and Fund II and will own 5% of Fund III. The Funds are consolidated into the Partnership’s financial statements based in part on ORMLLC’s controlling role as the general partner or managing member of the Funds. The Funds’ statements of operations for the quarters ended June 30, 2012 and June 30, 2011 reflect income of $286,000 and $235,000, respectively. These operating results exclude management fees paid by the Funds to ORMLLC of $612,000 and $522,000 for second quarters of 2012 and 2011, respectively, which are eliminated in consolidation. The Funds’ statements of operation for the six months ended June 30, 2012 and 2011 reflect income of $298,000 and $1.7 million, respectively. These operating results exclude management fees paid by the Funds to ORMLLC of $1.1 million in each of the six-month periods ended June 30, 2012 and 2011, respectively, which are eliminated in consolidation.

The Partnership’s consolidated balance sheet included assets and liabilities of the Funds as of June 30, 2012 and December 31, 2011, which were as follows:

(in thousands)	June 30, 2012		December 31, 2011
Assets:
Cash	$	1,647	$	2,404
Other current assets		1,106		546
Total current assets		2,753		2,950
Timber, timberland and roads (net of $16,794 and $13,729 of accumulated depletion in 2012 and 2011)		133,581		136,313
Other long-term assets		119		126
Total assets	$	136,453	$	139,389
Liabilities and equity:
Current liabilities excluding long-term debt	$	1,796	$	1,525
Current portion of long-term debt		32		32
Long-term debt		11,020		11,036
Total liabilities		12,848		12,593
Funds' equity		123,605		126,796
Total liabilities and equity	$	136,453	$	139,389

Commitments And Contingencies Disclosure

6 Months Ended

Jun. 30, 2012

Commitments And Contingencies Disclosure

10.

The Partnership has an accrual for estimated environmental remediation costs of $14.5 million as of June 30, 2012 and $2.2 million as of December 31, 2011. The environmental remediation liability represents primarily estimated payments to be made to monitor and remedy certain areas in and around the townsite and millsite at Port Gamble, Washington, and secondarily at Port Ludlow, Washington.

The environmental liability at June 30, 2012 includes an estimate of $833,000 that management expects to expend in the next 12 months and $13.6 million thereafter. In developing its estimate of the Port Gamble environmental liability, management has employed a Monte Carlo statistical simulation model that suggests a potential aggregate range of clean-up cost from $11.9 million to $16.5 million, which corresponds to a two-standard-deviation range from the mean of possible outcomes generated by the simulation model.

In February 2011 a draft Remediation Investigation/Feasibility Study (RI/FS) was developed for Port Gamble that projected a total clean-up cost of $4.5 million. Our estimate of the Partnership’s share of this liability was slightly less than $2.0 million with the balance contributed by the other “potential liable person” (PLP) the State of Washington’s Department of Natural Resources (DNR). When the State’s environmental regulatory agency, Department of Ecology (Ecology), took this draft RI/FS out for public comment in 2011, most of the comments came from local tribes.

In June 2012, Ecology communicated to the Partnership specific components of a revised RI/FS that were beginning to crystallize and were responsive to these comments. This translated to a significantly expanded scope of the project, including larger dredge areas, more capping of underwater sediment areas, and demolition of both pilings and an old millsite wharf. In addition, Ecology pressed the PLP’s to commit to addressing “natural resource damages” (NRD), an element of environmental law that provides for compensation to be paid as mitigation for injuries to the environment that are analogous to pain-and-suffering payments in a civil law context.

The projected cost of this significant scope expansion in the clean-up together with the layering on of NRD mitigation translates to a sizable multiple of the prior estimate for clean-up costs. As a result of this change in the scope of the clean-up and the prospect of NRD mitigation, the Partnership’s potential share of remediation costs has increased commensurately and, although the revised remediation plan has not been finalized, discussions with Ecology are far enough along that management can reasonably estimate an increase in the remediation reserve to reflect these projected costs. The cash outflows by the Partnership to fund its share of the Port Gamble clean-up and potential related NRD mitigation will occur over a multi-year timeframe.

In conjunction with their re-examination of clean-up alternatives, Ecology successfully obtained $9 million of State funding targeted at Port Gamble, with the monies slated for acquisition of environmentally sensitive properties, rehabilitation of geoduck beds, pollution source control, habitat preservation, and clean-up sustainability. The specific apportionment of these monies between the aforementioned uses is uncertain, however, and it remains to be seen how much, if any, of these authorized funds ends up being utilized in Port Gamble. To the extent the $9 million ends up as proceeds paid to the Partnership for property acquisition, these funds will provide a meaningful liquidity source for addressing our clean-up and NRD mitigation responsibilities. Potential receipt of these funds, however, is not reflected as an offset in the $12.5 million accrual adjustment nor is it recorded as an asset.

There are also significant demolition elements of the clean-up plan such as the removal of pilings, an old wharf, and other over-water structures that represent actions we would eventually take as part of the redevelopment plan for the site. As such, the upshot of the plan with respect to these actions is primarily the acceleration of incurring costs that were eventually going to be absorbed when undertaking redevelopment and ultimate sale of the site.

Our current estimate of the Partnership’s share of Port Gamble clean-up and NRD mitigation, if any, is $14.3 million which necessitates an additional accrual at the end of Q2 2012 of $12.5 million. Consistent with the methodology we have used in the past to estimate this liability, we used a Monte Carlo simulation model to arrive at a mean value for a multi-variable set of clean-up scenarios.

In addition to the Port Gamble site, during the second quarter of 2012, management met with representatives from the Port Ludlow resort community to discuss reactions to somewhat inconclusive first quarter test results. Following that meeting, we proposed a course of action with a cost effective profile that meets the objective of cleaning up the site. Although we are still in the midst of those discussions, we continue to closely monitor the project. As of June 30, 2012, we have $110,000 reserved in environmental remediation for the Port Ludlow site.

- 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

Sale of Building Disclosure

6 Months Ended

Jun. 30, 2012

Sale of Building Disclosure

11.	In July 2012, the Partnership completed the sale of its headquarters building in Poulsbo for $2.9 million. The headquarters building and land have a cost basis of $672,000 and are reported in Building and land held for sale as of June 30, 2012.

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2012

Basic and Diluted Income (Loss) Per Unit

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

	Quarter Ended						Six Months Ended
	June 30,						June 30,
(in thousands)	2012			2011			2012			2011
Net income (loss) attributable to Pope Resources' unitholders	$	(9,295	)	$	3,287		$	(8,089	)	$	6,967
Less:
Net income attributable to unvested restricted unitholders		(27	)		(131	)		(47	)		(277	)
Dividends paid to Fund II preferred shareholders		(4	)		(4	)		(8	)		(8	)
Net income (loss) for calculation of EPS	$	(9,326	)	$	3,152		$	(8,144	)	$	6,682

Weighted average units outstanding (in thousands):
Basic		4,351			4,329			4,348			4,318
Dilutive effect of unit equivalents		-			2			-			2
Diluted		4,351			4,331			4,348			4,320

Earnings (loss) per unit: Basic	$	(2.14	)	$	0.73		$	(1.87	)	$	1.55
Earnings (loss) per unit: Diluted	$	(2.14	)	$	0.73		$	(1.87	)	$	1.55

Segment Reporting Disclosure (Tables)

6 Months Ended

Jun. 30, 2012

Reconciliation of Operating Profit (Loss) from Segments

	Fee Timber									Timberland
Three Months Ended	Pope Resources			ORM Timber			Total Fee			Management &			Real
June 30, (in thousands)	Timber			Funds			Timber			Consulting			Estate				Other			Consolidated
2012
Revenue internal	$	11,767		$	5,819		$	17,586		$	612		$	352			$	-		$	18,550
Eliminations		(136	)		-			(136	)		(612	)		(12	)			-			(760	)
Revenue external		11,631			5,819			17,450			-			340				-			17,790

Cost of timber and land sold		(5,407	)		(4,947	)		(10,354	)		-			(1	)			-			(10,355	)

Operating, general and
administrative expenses internal		(1,113	)		(1,198	)		(2,311	)		(559	)		(13,471	)	*		(1,004	)		(17,345	)
Eliminations		12			612			624			136			-				-			760
Operating, general and
administrative expenses external		(1,101	)		(586	)		(1,687	)		(423	)		(13,471	)	*		(1,004	)		(16,585	)

Income (loss) from operations
internal		5,247			(326	)		4,921			53			(13,120	)			(1,004	)		(9,150	)
Eliminations		(124	)		612			488			(476	)		(12	)			-			-
Income (loss) from operations
external	$	5,123		$	286		$	5,409		$	(423	)	$	(13,132	)		$	(1,004	)	$	(9,150	)

2011
Revenue internal	$	7,144		$	4,300		$	11,444		$	522		$	2,942			$	-		$	14,908
Eliminations		(105	)		-			(105	)		(522	)		(12	)			-			(639	)
Revenue external		7,039			4,300			11,339			-			2,930				-			14,269

Cost of timber and land sold		(3,030	)		(3,687	)		(6,717	)		-			(344	)			-			(7,061	)

Operating, general and
administrative expenses internal		(942	)		(900	)		(1,842	)		(459	)		(922	)	**		(1,164	)		(4,387	)
Eliminations		12			522			534			105			-				-			639
Operating, general and
administrative expenses external		(930	)		(378	)		(1,308	)		(354	)		(922	)	**		(1,164	)		(3,748	)

Income (loss) from operations
internal		3,172			(287	)		2,885			63			1,676				(1,164	)		3,460
Eliminations		(93	)		522			429			(417	)		(12	)			-			-
Income (loss) from operations
external	$	3,079		$	235		$	3,314		$	(354	)	$	1,664			$	(1,164	)	$	3,460

*Includes $12.5 MM of environmental remediation expense
**Includes $77,000 of environmental remediation expense

	Fee Timber									Timberland
Six Months Ended	Pope Resources			ORM Timber			Total Fee			Management &			Real
June 30, (in thousands)	Timber			Funds			Timber			Consulting			Estate				Other			Consolidated
2012
Revenue internal	$	18,875		$	7,355		$	26,230		$	1,088		$	663			$	-		$	27,981
Eliminations		(275	)		-			(275	)		(1,088	)		(24	)			-			(1,387	)
Revenue external		18,600			7,355			25,955			-			639				-			26,594

Cost of timber and land sold		(8,352	)		(6,143	)		(14,495	)		-			(1	)			-			(14,496	)

Operating, general and
administrative expenses internal		(1,986	)		(2,002	)		(3,988	)		(1,082	)		(14,327	)	*		(2,168	)		(21,565	)
Eliminations		24			1,088			1,112			275			-				-			1,387
Operating, general and
administrative expenses external		(1,962	)		(914	)		(2,876	)		(807	)		(14,327	)	*		(2,168	)		(20,178	)

Income (loss) from operations
internal		8,537			(790	)		7,747			6			(13,665	)			(2,168	)		(8,080	)
Eliminations		(251	)		1,088			837			(813	)		(24	)			-			-
Income (loss) from operations
external	$	8,286		$	298		$	8,584		$	(807	)	$	(13,689	)		$	(2,168	)	$	(8,080	)

2011
Revenue internal	$	18,584		$	10,436		$	29,020		$	1,089		$	3,169			$	-		$	33,278
Eliminations		(222	)		-			(222	)		(1,089	)		(24	)			-			(1,335	)
Revenue external		18,362			10,436			28,798			-			3,145				-			31,943

Cost of timber and land sold external		(7,538	)		(8,035	)		(15,573	)		-			(344	)			-			(15,917	)

Operating, general and
administrative expenses internal		(2,110	)		(1,790	)		(3,900	)		(1,003	)		(1,994	)	**		(2,242	)		(9,139	)
Eliminations		27			1,089			1,116			219			-				-			1,335
Operating, general and
administrative expenses external		(2,083	)		(701	)		(2,784	)		(784	)		(1,994	)	**		(2,242	)		(7,804	)

Income (loss) from operations
internal		8,936			611			9,547			86			831				(2,242	)		8,222
Eliminations		(195	)		1,089			894			(870	)		(24	)			-			-
Income (loss) from operations
external	$	8,741		$	1,700		$	10,441		$	(784	)	$	807			$	(2,242	)	$	8,222

*Includes $12.5 MM of environmental remediation expense
**Includes $344,000 of environmental remediation expense

Balance Sheet Of Partnership Co-Investments (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings

The Partnership’s consolidated balance sheet included assets and liabilities of the Funds as of June 30, 2012 and December 31, 2011, which were as follows:

(in thousands)	June 30, 2012		December 31, 2011
Assets:
Cash	$	1,647	$	2,404
Other current assets		1,106		546
Total current assets		2,753		2,950
Timber, timberland and roads (net of $16,794 and $13,729 of accumulated depletion in 2012 and 2011)		133,581		136,313
Other long-term assets		119		126
Total assets	$	136,453	$	139,389
Liabilities and equity:
Current liabilities excluding long-term debt	$	1,796	$	1,525
Current portion of long-term debt		32		32
Long-term debt		11,020		11,036
Total liabilities		12,848		12,593
Funds' equity		123,605		126,796
Total liabilities and equity	$	136,453	$	139,389

Basic and Diluted Income (Loss) Per Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Earnings Per Share Disclosure [Line Items]
Net income (loss) attributable to Pope Resources' unitholders	$ (9,295)	$ 3,287	$ (8,089)	$ 6,967
Net income attributable to unvested restricted unitholders	(27)	(131)	(47)	(277)
Dividends paid to Fund II preferred shareholders	(4)	(4)	(8)	(8)
Net income (loss) for calculation of EPS	$ (9,326)	$ 3,152	$ (8,144)	$ 6,682
Weighted average units outstanding (in thousands):
Basic	4,351	4,329	4,348	4,318
Dilutive effect of unit equivalents		2		2
Diluted	4,351	4,331	4,348	4,320
Earnings (loss) per unit: Basic	$ (2.14)	$ 0.73	$ (1.87)	$ 1.55
Earnings (loss) per unit: Diluted	$ (2.14)	$ 0.73	$ (1.87)	$ 1.55

Earnings Per Share - Additional Information (Detail)	6 Months Ended
Earnings Per Share - Additional Information (Detail)	Jun. 30, 2011 $ / shares shares
Earnings Per Share Disclosure [Line Items]
Options outstanding at end of period \| shares	5,500
Options to purchase at prices, lower limit	$ 10.75
Options to purchase at prices, upper limit	$ 17.40

Stock Based Compensation - Additional Information (Detail) - Restricted Units - USD ($)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation units, granted in period	20,350
Equity compensation units vesting period	4 years
Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity Compensation expense	$ 275,000	$ 152,000
Board of Directors Chairman
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation units, granted in period	6,000
Board of Directors Chairman \| Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity Compensation expense	$ 519,000	$ 592,000
Board of Directors Chairman \| Third anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50.00%
Board of Directors Chairman \| Fourth anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50.00%

Cash Flow, Supplemental Disclosures - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash Flow Supplemental Disclosures [Line Items]
Interest paid, net of amounts capitalized	$ 718,000	$ 873,000
Income Taxes Paid	$ 247,000	$ 33,000

Fair Value Disclosures - Additional Information (Detail) - Fair Value, Inputs, Level 2 - Fixed-Rate Debt - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt outstanding carrying value	$ 40.9	$ 40.9
Debt outstanding fair value	$ 46.3	$ 46.6

Partners' Capital Notes Disclosure - Additional Information (Detail) shares in Thousands	Jun. 30, 2012 PartnershipUnit shares	Dec. 31, 2011 shares
Other Ownership Interests [Line Items]
General partners' capital, units outstanding by the two general partners \| shares	60	60
Number of general partners in partnership \| PartnershipUnit	2

Reconcile Internally Reported Income (Loss) from Operations to Externally Reported Income (Loss) from Operations by Business Segment (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2012

Jun. 30, 2011

Jun. 30, 2012

Jun. 30, 2011

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

$ 17,790

$ 14,269

$ 26,594

$ 31,943

Cost of timber and land sold

(10,355)

(7,061)

(14,496)

(15,917)

Operating, general and administrative expenses

(16,585)

(3,748)

(20,178)

(7,804)

Income (loss) from operations

(9,150)

3,460

(8,080)

8,222

Internal

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

18,550

14,908

27,981

33,278

Operating, general and administrative expenses

(17,345)

(4,387)

(21,565)

(9,139)

Income (loss) from operations

(9,150)

3,460

(8,080)

8,222

Eliminations

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

(760)

(639)

(1,387)

(1,335)

Operating, general and administrative expenses

760

639

1,387

1,335

Fee Timber

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

17,450

11,339

25,955

28,798

Cost of timber and land sold

(10,354)

(6,717)

(14,495)

(15,573)

Operating, general and administrative expenses

(1,687)

(1,308)

(2,876)

(2,784)

Income (loss) from operations

5,409

3,314

8,584

10,441

Fee Timber | Internal

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

17,586

11,444

26,230

29,020

Operating, general and administrative expenses

(2,311)

(1,842)

(3,988)

(3,900)

Income (loss) from operations

4,921

2,885

7,747

9,547

Fee Timber | Eliminations

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

(136)

(105)

(275)

(222)

Operating, general and administrative expenses

624

534

1,112

1,116

Income (loss) from operations

488

429

837

894

Fee Timber | Pope Resources Timber

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

11,631

7,039

18,600

18,362

Cost of timber and land sold

(5,407)

(3,030)

(8,352)

(7,538)

Operating, general and administrative expenses

(1,101)

(930)

(1,962)

(2,083)

Income (loss) from operations

5,123

3,079

8,286

8,741

Fee Timber | Pope Resources Timber | Internal

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

11,767

7,144

18,875

18,584

Operating, general and administrative expenses

(1,113)

(942)

(1,986)

(2,110)

Income (loss) from operations

5,247

3,172

8,537

8,936

Fee Timber | Pope Resources Timber | Eliminations

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

(136)

(105)

(275)

(222)

Operating, general and administrative expenses

Income (loss) from operations

(124)

(93)

(251)

(195)

Fee Timber | ORM Timber Funds

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

5,819

4,300

7,355

10,436

Cost of timber and land sold

(4,947)

(3,687)

(6,143)

(8,035)

Operating, general and administrative expenses

(586)

(378)

(914)

(701)

Income (loss) from operations

286

235

298

1,700

Fee Timber | ORM Timber Funds | Internal

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

5,819

4,300

7,355

10,436

Operating, general and administrative expenses

(1,198)

(900)

(2,002)

(1,790)

Income (loss) from operations

(326)

(287)

(790)

611

Fee Timber | ORM Timber Funds | Eliminations

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Operating, general and administrative expenses

612

522

1,088

1,089

Income (loss) from operations

612

522

1,088

1,089

Timberland Management & Consulting

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Operating, general and administrative expenses

(423)

(354)

(807)

(784)

Income (loss) from operations

(423)

(354)

(807)

(784)

Timberland Management & Consulting | Internal

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

612

522

1,088

1,089

Operating, general and administrative expenses

(559)

(459)

(1,082)

(1,003)

Income (loss) from operations

Timberland Management & Consulting | Eliminations

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

(612)

(522)

(1,088)

(1,089)

Operating, general and administrative expenses

136

105

275

219

Income (loss) from operations

(476)

(417)

(813)

(870)

Real Estate

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

340

2,930

639

3,145

Cost of timber and land sold

(1)

(344)

(1)

(344)

Operating, general and administrative expenses

(13,471)

^[1]

(922)

^[2]

(14,327)

^[1]

(1,994)

^[3]

Income (loss) from operations

(13,132)

1,664

(13,689)

807

Real Estate | Internal

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

352

2,942

663

3,169

Operating, general and administrative expenses

(13,471)

^[1]

(922)

^[2]

(14,327)

^[1]

(1,994)

^[3]

Income (loss) from operations

(13,120)

1,676

(13,665)

831

Real Estate | Eliminations

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Revenue

(12)

(24)

Income (loss) from operations

(12)

(24)

Other

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Operating, general and administrative expenses

(1,004)

(1,164)

(2,168)

(2,242)

Income (loss) from operations

(1,004)

(1,164)

(2,168)

(2,242)

Other | Internal

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Operating, general and administrative expenses

(1,004)

(1,164)

(2,168)

(2,242)

Income (loss) from operations

$ (1,004)

$ (1,164)

$ (2,168)

$ (2,242)

[1]	Includes $12.5 MM of environmental remediation expense
[2]	Includes $77,000 of environmental remediation expense
[3]	Includes $344,000 of environmental remediation expense

Reconcile Internally Reported Income (Loss) from Operations to Externally Reported Income (Loss) from Operations by Business Segment (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Environmental remediation expense	$ 12,500	$ 77	$ 12,500	$ 344
Real Estate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Environmental remediation expense	$ 12,500	$ 77	$ 12,500	$ 344

- Definition

The charge against earnings in the period for known or estimated future costs arising from requirements to perform environmental remediation activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6393242&loc=d3e13296-110859

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 96-1
-Paragraph 147, 148, 149, 150
-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 AICPA
-Name Statement of Position (SOP)
-Number 96-1
-Paragraph 170
-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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 90-8
-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)
-Number 5
-Paragraph 9, 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.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 143
-Paragraph 2
-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.

+ Details

Balance Sheet Of Partnership Co-Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Pope Resources and ORMLLC combined ownership percentage in Fund I and Fund II			20.00%
Funds' income from operation	$ 286	$ 235	$ 298	$ 1,700
Management fees paid to ORMLLC	$ 612	$ 522	$ 1,100	$ 1,100
Fund I
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Operating term for Fund			10 years
Termination agreement date	2017-08		2017-08
Fund II
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Operating term for Fund			10 years
Termination agreement date	2021-03		2021-03
Fund III
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Operating term for Fund			10 years
Termination agreement date	2012-07		2012-07
Pope Resources and ORMLLC combined ownership percentage in Fund I and Fund II			5.00%

Consolidated Balance Sheet included Assets and Liabilities of Funds (Detail) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Assets:
Total current assets	$ 6,477	$ 6,717
Timber, timberland and roads (net of $16,794 and $13,729 of accumulated depletion in 2012 and 2011)	218,567	222,798
Other long-term assets	342	484
Total assets	225,683	230,408
Liabilities and equity:
Current liabilities excluding long-term debt	6,080	5,296
Current portion of long-term debt	32	32
Total liabilities and equity	225,683	230,408
ORM Timber Funds
Assets:
Cash	1,647	2,404
Other current assets	1,106	546
Total current assets	2,753	2,950
Timber, timberland and roads (net of $16,794 and $13,729 of accumulated depletion in 2012 and 2011)	133,581	136,313
Other long-term assets	119	126
Total assets	136,453	139,389
Liabilities and equity:
Current liabilities excluding long-term debt	1,796	1,525
Current portion of long-term debt	32	32
Long-term debt	11,020	11,036
Total liabilities	12,848	12,593
Funds' equity	123,605	126,796
Total liabilities and equity	$ 136,453	$ 139,389

Consolidated Balance Sheet included Assets and Liabilities of Funds (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Condensed Financial Statements, Captions [Line Items]
Timber, timberland and roads, accumulated depletion	$ 77,149	$ 71,955
ORM Timber Funds
Condensed Financial Statements, Captions [Line Items]
Timber, timberland and roads, accumulated depletion	$ 16,794	$ 13,729

Environmental Loss Contingency Disclosure - Additional Information (Detail) - USD ($)	1 Months Ended	6 Months Ended
	Feb. 28, 2011	Jun. 30, 2012	Dec. 31, 2011
Environmental Exit Cost [Line Items]
Accrual for estimated environmental remediation costs		$ 14,500,000	$ 2,200,000
Environmental liability, next 12 month		833,000
Environmental liability, thereafter		13,600,000
Environmental remediation costs potential aggregate loss, minimum		11,900,000
Environmental remediation costs potential aggregate loss, maximum		16,500,000
Total estimated clean up cost	$ 4,500,000
State funding obtained		9,000,000
Accrual adjustments		12,500,000
Partnership's share
Environmental Exit Cost [Line Items]
Total estimated clean up cost		14,300,000
Additional accrual		12,500,000
Partnership's share \| Maximum
Environmental Exit Cost [Line Items]
Total estimated clean up cost	$ 2,000,000
Reserve for Environmental Costs
Environmental Exit Cost [Line Items]
Reserve in environmental remediation		$ 110,000

Sale of Building - Additional Information (Detail) - USD ($)	Jul. 31, 2012	Jun. 30, 2012
Property, Plant and Equipment [Line Items]
Building and Land held for sale		$ 672,000
Subsequent Event
Property, Plant and Equipment [Line Items]
Sale of headquarters building	$ 2,900,000