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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Oct. 31, 2018
Document And Entity Information [Abstract]
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
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		4,352,216

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets
Partnership cash	$ 1,791	$ 1,788
ORM Timber Funds cash	4,575	1,636
Cash	6,366	3,424
Restricted cash	1,005	1,860
Total cash and restricted cash	7,371	5,284
Accounts receivable, net	5,654	6,427
Contract assets	4,947	0
Land held for sale	5,013	5,728
Prepaid expenses and other current assets	1,408	591
Total current assets	24,393	18,030
Properties and equipment, at cost
Timber and roads	356,017	267,662
Timberland	69,115	55,056
Land held for development	20,809	19,311
Buildings and equipment, net of accumulated depreciation (2018 - $8,085; 2017 - $7,833)	5,497	5,306
Total property and equipment, at cost	451,438	347,335
Other assets	8,862	15,308
Total assets	484,693	380,673
Current liabilities
Accounts payable	2,284	2,430
Accrued liabilities	4,111	4,451
Current portion of long-term debt - Partnership	127	123
Deferred revenue	277	197
Current portion of environmental remediation liability	2,134	2,160
Other current liabilities	1,165	401
Total current liabilities	10,098	9,762
Environmental remediation and other long-term liabilities	4,712	2,957
Partners’ capital and noncontrolling interests
General partners' capital (units issued and outstanding 2018 - 60; 2017 - 60)	1,026	1,028
Limited partners' capital (units issued and outstanding 2018 - 4,254; 2017 - 4,251)	62,503	63,519
Noncontrolling interests	259,572	176,079
Total partners’ capital and noncontrolling interests	323,101	240,626
Total liabilities, partners’ capital and noncontrolling interests	484,693	380,673
Partnership
Current liabilities
Long-term debt, net of unamortized debt issuance costs and current portion	89,475	70,037
Funds
Current liabilities
Long-term debt, net of unamortized debt issuance costs and current portion	$ 57,307	$ 57,291

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Buildings and equipment, accumulated depreciation	$ 8,085	$ 7,833
General partners’ capital, units issued	60,000	60,000
General partners’ capital, units outstanding	60,000	60,000
Limited partners’ capital, units issued	4,254,000	4,251,000
Limited partners’ capital, units outstanding	4,254,000	4,251,000

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue	$ 28,008	$ 18,803	$ 80,907	$ 52,039
Cost of sales	(16,769)	(11,388)	(43,644)	(31,568)
Operating expenses	(5,137)	(4,520)	(14,471)	(13,296)
Environmental remediation expense	0	0	(2,900)	0
General and administrative expenses	(1,930)	(1,134)	(4,954)	(4,240)
Gain on sale of timberland	0	44	0	12,547
Income from operations	4,172	1,805	14,938	15,482
Interest expense, net	(1,311)	(1,179)	(3,703)	(3,306)
Income before income taxes	2,861	626	11,235	12,176
Income tax expense	(117)	(46)	(243)	(105)
Net and comprehensive income	2,744	580	10,992	12,071
Net and comprehensive income attributable to unitholders	2,644	1,658	8,562	5,186
Allocable to general partners	37	23	119	72
Allocable to limited partners	$ 2,607	$ 1,635	$ 8,443	$ 5,114
Basic and diluted earnings per unit attributable to unitholders (in dollars per unit)	$ 0.60	$ 0.38	$ 1.96	$ 1.17
Basic and diluted weighted average units outstanding (units)	4,316	4,324	4,319	4,325
Distributions per unit (in dollars per unit)	$ 0.8	$ 0.7	$ 2.2	$ 2.10
ORM Timber Funds
Net and comprehensive (income) loss attributable to noncontrolling interests	$ (110)	$ 1,078	$ (2,498)	$ (6,885)
Real Estate
Net and comprehensive (income) loss attributable to noncontrolling interests	$ 10	$ 0	$ 68	$ 0

Condensed Consolidated Statements of Partners' Capital and Noncontrolling Interests (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands	Total	Noncontrolling Interests	General Partners	Limited Partners
Beginning balance (in units) at Dec. 31, 2017	4,311,065
Beginning balance at Dec. 31, 2017	$ 240,626	$ 176,079	$ 1,028	$ 63,519
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	10,992	2,430	119	8,443
Cash distributions	(20,808)	(11,217)	(133)	(9,458)
Capital call	$ 92,280	92,280
Equity-based compensation (in units)	16,178
Equity-based compensation	$ 924		13	911
Units issued under distribution reinvestment plan (in units)	1,808
Units issued under distribution reinvestment plan	$ 128			128
Unit repurchases (in units)	(13,422)
Unit repurchases	$ (939)			(939)
Payroll taxes paid on unit net settlements (in units)	(1,466)
Payroll taxes paid on unit net settlements	$ (102)		(1)	(101)
Ending balance (in units) at Sep. 30, 2018	4,314,163
Ending balance at Sep. 30, 2018	$ 323,101	$ 259,572	$ 1,026	$ 62,503

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Cash Flows [Abstract]
Net income	$ 10,992	$ 12,071
Adjustments to reconcile net income to net cash provided by operating activities
Depletion	21,104	12,737
Equity-based compensation	924	950
Depreciation and amortization	439	393
Deferred taxes and other	57	10
Cost of land sold	1,407	1,970
Gain on sale of timberland - Funds	0	(12,547)
Gain on disposal of property and equipment	(9)	(3)
Cash flows from changes in operating accounts
Accounts receivable, net	772	354
Prepaid expenses, contract assets, and other assets	(5,656)	5,673
Real estate project expenditures	(2,182)	(6,496)
Accounts payable and accrued liabilities	(489)	(1,452)
Deferred revenue	80	(164)
Environmental remediation accruals	2,900	0
Environmental remediation payments	(1,145)	(6,182)
Other current and long-term liabilities	740	94
Net cash provided by operating activities	29,934	7,408
Cash flows from investing activities
Reforestation and roads	(2,534)	(1,665)
Capital expenditures	(571)	(162)
Proceeds from sale of property and equipment	10	30
Investment in unconsolidated real estate joint venture	0	(250)
Acquisitions of timberland - Partnership	(6,355)	(4,951)
Acquisitions of timberland - Funds	(108,364)	0
Proceeds from sale of timberland - Funds	0	26,590
Net cash provided by (used in) investing activities	(117,814)	19,592
Cash flows from financing activities
Line of credit borrowings	27,300	23,000
Line of credit repayments	(7,800)	(8,000)
Repayment of long-term debt	(92)	(5,088)
Debt issuance costs	0	(104)
Proceeds from unit issuances - distribution reinvestment plan	128	4
Unit repurchases	(939)	(648)
Payroll taxes paid on unit net settlements	(102)	(94)
Cash distributions to unitholders	(9,591)	(9,168)
Cash distributions - ORM Timber Funds, net of distributions to Partnership	(11,217)	(26,359)
Capital call - ORM Timber Funds, net of Partnership contribution	92,280	825
Net cash provided by (used in) financing activities	89,967	(25,632)
Net increase in cash and restricted cash	2,087	1,368
Cash and restricted cash at beginning of period	5,284	2,937
Cash and restricted cash at end of period	$ 7,371	$ 4,305

Organization, Consolidation and Presentation of Financial Statements Disclosure	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure	The condensed consolidated balance sheets as of September 30, 2018, and December 31, 2017, and the related condensed consolidated statements of comprehensive income for the three- and nine-month periods, and partners’ capital and cash flows for the nine-month periods, ended September 30, 2018, and 2017, 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 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, 2017, is derived from the Partnership’s audited consolidated financial statements and notes thereto for the year ended December 31, 2017, 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, 2018.

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	The financial statements in the Partnership’s 2017 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. In February 2016, the FASB established Topic 842, Leases, which requires lessees to recognize leases on the balance sheet and disclose certain information about leasing arrangements. The new standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as financing or operating, with classification affecting the pattern and classification of expense recognition in the income statement. For lessors, leases will be classified as a sales-type, direct financing, or operating lease. A lease is classified as a sales-type lease if any one of five criteria are met, each of which indicate that the lease, in effect, transfers control of the underlying asset to the lessee. If none of those five criteria are met, but two additional criteria are both met, indicating that the lessor has transferred substantially all the risks and benefits of the underlying asset to the lessee and a third party, the lease is a direct financing lease. All leases that are not sales-type or direct financing leases are operating leases. The new standard is effective for us on January 1, 2019. We expect to adopt the new standard on January 1, 2019 and use the effective date as our date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. The new standard provides a number of optional practical expedients in transition. We expect to elect all of the new standard’s available transition practical expedients. Due to the Partnership’s limited leasing activity, we do not expect the effect of this standard to be material to the Partnership’s consolidated financial statements. As a lessee, we currently believe that the most significant effect relates to the recognition of new ROU assets and lease liabilities on our balance sheet for our leases, which consist principally of leases of office equipment and office space. We expect to elect the practical expedient to not separate lease and non-lease components for all leases. As a lessor, we currently believe that all of our leases, which consist of leases of real estate, will continue to be classified as operating leases under the new standard.

Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Effective January 1, 2018, the Partnership adopted Topic 606, Revenue from Contracts with Customers. For revenue from the Partnership Timber and Funds Timber segments, which consists primarily of the sale of logs, there were no changes to the timing or amount of revenue recognized because contracts are legally enforceable, the transaction price is fixed, and performance is completed and control transfers at a point in time, typically when risk of loss and title passes to the customer. Similarly, no changes were identified to the timing or amount of revenue recognized from certain components of other revenue in these segments, including commercial thinning, royalties from gravel mines and quarries, and land use permits. For timber deed sales, the timing of revenue recognition was accelerated under the new standard to the effective date of the contract, whereas under the previous revenue recognition guidance the revenue was generally recognized when the timber was harvested by the customer. Under Topic 606, revenue recognized from timber deed sales in the third quarter of 2018 was $588,000 less than it would have been under the previous revenue recognition standards. For the nine months ended September 30, 2018, revenue recognized under Topic 606 was $6.9 million greater than it would have been under the previous revenue recognition accounting standards. For the Real Estate segment, this new standard may result in accelerating the recognition of revenue for performance obligations that are satisfied over time, which generally consist of construction and landscaping activity in common areas completed after transaction closing. The Partnership adopted this standard using the cumulative effect transition method applied to uncompleted contracts as of the date of adoption. The Partnership, however, had no uncompleted contracts at the date of adoption. Accordingly, the adoption of this standard did not have a cumulative effect on the Partnership’s consolidated financial statements.

Revenue is measured based on the consideration specified in a contract with a customer. The Partnership recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Partnership from a customer are excluded from revenue. Shipping costs associated with delivering products to customers are included in cost of sales.

Included in “Accounts receivable, net” are $4.4 million of receivables from contracts with customers as of September 30, 2018, and December 31, 2017. Significant changes in the contract asset balance during the period were as follows, and there were no contract liabilities as of September 30, 2018, and December 31, 2017:



Contract assets, January 1, 2018	$	—
Revenue recognized from the satisfaction of performance obligations	10,255
Revenue recognized from changes in estimates of variable consideration	249
Transferred to receivables from contract assets	(5,557		)
Contract assets, September 30, 2018	$	4,947

The contract assets in the table above represent rights to consideration for timber deeds transferred to the customer and are related to the Funds Timber segment. These contracts provide the customer the legal right to harvest timber on the Funds’ property. The value of a timber deed contract is determined based on the estimated timber volume by tree species multiplied by the contracted price. The contract consideration is considered variable because the timber volume is an estimate until the harvest is completed. The contract assets are transferred to receivables when the rights to consideration become due under the contract. Customers may harvest the timber at their discretion, within a time period and operational parameters stated in the contract.

The following is a description of principal activities, separated by reportable segments, from which the Partnership generates its revenue.

Partnership Timber and Funds Timber

Log sale revenue in these two segments is recognized when control is transferred, and title and risk of loss passes to the customer, which typically occurs when logs are delivered to the customer. Revenue in these two segments is earned primarily from the harvest and sale of logs from the Partnership’s and Funds’ timberland. Other revenue in these segments is generated from the sale of rights to harvest timber (timber deed sales), commercial thinning, ground leases for cellular communication towers, royalties from gravel mines and quarries, and land use permits. Timber deed sales are generally structured so that the customer pays a contracted price per volume, measured in thousands of board feet (MBF), and revenue is recognized when control is transferred to the customer, which generally occurs on the effective date of the contract. Commercial thinning consists of the selective cutting of timber stands that have not yet reached optimal harvest age. However, this timber does have some commercial value and revenue is based on the volume harvested. Royalty revenue from gravel mines and quarries is recognized monthly based on the quantity of material extracted.

The following table presents log sale and other revenue for the quarters and nine months ended September 30, 2018 and 2017:



(in thousands)	Quarter ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Partnership Timber
Log sale revenue	$	11,638	$	8,298	$	31,312	$	24,686
Other revenue	601		600		1,635		1,487
Total revenue	$	12,239	$	8,898	$	32,947	$	26,173

Funds Timber
Log sale revenue	$	11,353	$	5,682	$	29,356	$	19,912
Timber deed sale revenue	1,640		1,235		10,504		1,945
Other revenue	260		165		851		204
Total revenue	$	13,253	$	7,082	$	40,711	$	22,061

Timberland Investment Management (TIM)

Fee revenue generated by the TIM segment for managing the Funds includes fixed components related to invested capital and acres under management, and a variable component related to harvest volume from the Funds’ tree farms. These fees, which represent an expense in the Funds Timber segment, are eliminated in consolidation. The TIM segment occasionally earns revenue from providing timberland management-related consulting services to third-parties and recognizes such revenue as the related services are provided.

Real Estate

The Real Estate segment’s activities consist of investing in and later selling improved properties, holding properties for later development and sale, and managing commercial properties. Revenue is generated primarily from sales of land, sales of development rights known as conservation easements (CE’s), sales of unimproved land from the Partnership’s timberland portfolio, and residential and commercial rents. Revenue on real estate sales is recorded on the date the sale closes. When a real estate transaction is closed with obligations to complete infrastructure or other construction, the portion of the total contract allocated to the post-closing obligations may be recognized over time as that work is performed, provided the customer either simultaneously receives and consumes the benefits as we perform under the contract, our performance creates or enhances the asset controlled by the customer, or we do not create an asset with an alternative use to the customer and we have an enforceable right to payment for the performance completed. Progress towards the satisfaction of our performance obligations is generally measured based on costs incurred relative to the total cost expected to be incurred for the performance obligations.

The following table breaks down revenue for the Real Estate segment for the quarters and nine months ended September 30, 2018 and 2017:



	Quarter ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017

Development rights (CE)	$	—	$	—	$	3,730	$	—
Residential land sales	1,975		2,487		2,126		2,942
Unimproved land	—		—		125		—
Total land sales	1,975		2,487		5,981		2,942
Rentals and other	541		336		1,268		863
Total revenue	$	2,516	$	2,823	$	7,249	$	3,805

Partners' Capital Notes Disclosure	9 Months Ended
Partners' Capital Notes Disclosure	Sep. 30, 2018
Equity [Abstract]
Partners' Capital Notes Disclosure	The Partnership has two general partners: Pope MGP, Inc. and Pope EGP, Inc. In total, these two entities own 60,000 limited partner units. The allocation of distributions, profits, and losses among the general and limited partners is pro rata across all units outstanding.

Balance Sheet Of Partnership Co-Investments

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Of Partnership Co-Investments

ORM Timber Fund II, Inc. (Fund II), ORM Timber Fund III (REIT) Inc. (Fund III), and ORM Timber Fund IV LLC (Fund IV), collectively “the Funds”, were formed by Olympic Resource Management LLC (ORMLLC), a wholly owned subsidiary of the Partnership, for the purpose of raising 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 is organized to operate for a specific term from the end of its respective investment period; ten years for each of Fund II and Fund III, and fifteen years for Fund IV. Fund II and Fund III are scheduled to terminate in March 2021 and December 2025, respectively. Fund IV will terminate on the fifteenth anniversary of the end of its investment period, which will occur on the earlier of placement of all committed capital or December 31, 2019, subject to certain extension provisions.

Pope Resources and ORMLLC together own equity interests totaling 20% of Fund II, 5% of Fund III, and 15% of Fund IV. The Funds are considered variable interest entities because their organizational and governance structures are the functional equivalent of a limited partnership. As the managing member of the Funds, the Partnership is the primary beneficiary of each of the Funds as it has the authority to direct the activities that most significantly impact their economic performance, as well as the right to receive benefits and the obligation to absorb losses that could potentially be significant to the Funds. Accordingly, the Funds are consolidated into the Partnership’s financial statements. The obligations of each of the Funds are non-recourse to the Partnership.

In January 2018, Fund IV closed on the acquisitions of two tree farms, one in southwestern Oregon and one in south Puget Sound, Washington, for $33.6 million and $80.4 million, respectively. In 2017, Fund IV paid deposits totaling $5.7 million for these acquisitions. The Partnership’s share of the combined purchase price was $17.0 million. The combined purchase price was allocated $100.7 million to timber and roads, and $13.3 million to the underlying land. In October 2018, Fund IV closed on the acquisition of a tree farm in south Puget Sound, Washington for $32.2 million, of which the Partnership’s share was $4.8 million.

In January 2017, Fund II closed on the sale of one of its tree farms, located on the Oregon coast, for $26.5 million. The Partnership’s share of the pretax results from this tree farm was a gain of $2.5 million for the nine months ended September 30, 2017.

The assets and liabilities of the Funds as of September 30, 2018, and December 31, 2017, were as follows:



(in thousands)	September 30, 2018		December 31, 2017
Assets:
Cash	$	4,575	$	1,636
Other current assets	7,905		2,481
Total current assets	12,480		4,117
Properties and equipment, net of accumulated depreciation	332,068		235,046
Other long-term assets	—		5,683
Total assets	$	344,548	$	244,846
Liabilities and equity:
Current liabilities	$	3,635	$	2,862
Long-term debt, net of unamortized debt issuance costs	57,307		57,291
Funds’ equity	283,606		184,693
Total liabilities and equity	$	344,548	$	244,846

Other Assets

9 Months Ended

Sep. 30, 2018

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Other assets consisted of the following at September 30, 2018 and December 31, 2017:



	September 30, 2018		December 31, 2017

Deferred tax assets, net	$	412	$	465
Cash held by like-kind exchange intermediaries	—		598
Deposits for acquisitions of timberland	—		5,688
Investment in Real Estate joint venture entity	5,895		5,895
Advances to Real Estate joint venture entity	753		37
Note receivable	1,802		2,625
Total	$	8,862	$	15,308

Segment Reporting Disclosure

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

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 operating income (loss) reported externally. The following tables reconcile internally reported income (loss) from operations to externally reported income (loss) from operations by business segment.

Beginning with the first quarter of 2018, we measure segment performance based on Adjusted EBITDDA in addition to operating income. We define Adjusted EBITDDA as earnings, on an internal basis, before interest, taxes, depletion, depreciation, amortization, gain or loss on sales of timberland, and environmental remediation expense. The following tables reconcile internally reported operating income (loss) from operations to Adjusted EBITDDA.

In addition, we have changed our internal reporting and our segment reporting to segregate our former “Fee Timber” segment into two segments: “Partnership Timber” includes the operating results of the Partnership’s 100%-owned timberland, while “Funds Timber” includes the operating results of its three private equity timber funds. Our chief operating decision maker reviews internal financial reporting information at the Partnership Timber and Funds Timber level to allocate resources and evaluate the results of the business. Prior period segment disclosures have been revised to reflect our current segment structure.



Quarter ended September 30, (in thousands)	Partnership Timber			Funds Timber			Timberland Investment Management			Real Estate			Other			Consolidated
2018
Revenue - internal	$	12,373		$	13,253		$	1,212		$	2,636		$	—		$	29,474
Eliminations	(134		)	—			(1,212		)	(120		)	—			(1,466		)
Revenue - external	12,239			13,253			—			2,516			—			28,008

Cost of sales	(4,976		)	(9,932		)	—			(1,861		)	—			(16,769		)

Operating, general and administrative expenses - internal	(1,729		)	(2,435		)	(1,206		)	(1,209		)	(1,954		)	(8,533		)
Eliminations	43			1,212			151			36			24			1,466
Operating, general and administrative expenses - external	(1,686		)	(1,223		)	(1,055		)	(1,173		)	(1,930		)	(7,067		)
Income (loss) from operations - internal	5,668			886			6			(434		)	(1,954		)	4,172
Eliminations	(91		)	1,212			(1,061		)	(84		)	24			—

Income (loss) from operations - external	$	5,577		$	2,098		$	(1,055	)	$	(518	)	$	(1,930	)	$	4,172

Income (loss) from operations - internal	$	5,668		$	886		$	6		$	(434	)	$	(1,954	)	$	4,172
Depletion, depreciation, and amortization	1,094			5,906			21			68			10			7,099
Adjusted EBITDDA	$	6,762		$	6,792		$	27		$	(366	)	$	(1,944	)	$	11,271

2017
Revenue - internal	$	8,981		$	7,082		$	829		$	2,920		$	—		$	19,812
Eliminations	(83		)	—			(829		)	(97		)	—			(1,009		)
Revenue - external	8,898			7,082			—			2,823			—			18,803

Cost of sales	(3,552		)	(5,717		)	—			(2,119		)	—			(11,388		)

Operating, general and administrative expenses - internal	(1,576		)	(1,937		)	(780		)	(1,213		)	(1,157		)	(6,663		)
Eliminations	38			829			101			18			23			1,009
Operating, general and administrative expenses -external	(1,538		)	(1,108		)	(679		)	(1,195		)	(1,134		)	(5,654		)
Gain on sale of timberland	—			44			—			—			—			44
Income (loss) from operations - internal	3,853			(528		)	49			(412		)	(1,157		)	1,805
Eliminations	(45		)	829			(728		)	(79		)	23			—

Income (loss) from operations - external	$	3,808		$	301		$	(679	)	$	(491	)	$	(1,134	)	$	1,805

Income (loss) from operations - internal	$	3,853		$	(528	)	$	49		$	(412	)	$	(1,157	)	$	1,805
Depletion, depreciation, and amortization	912			3,374			8			69			13			4,376
(Gain) loss on sale of timberland	—			(44		)	—			—			—			(44		)
Adjusted EBITDDA	$	4,765		$	2,802		$	57		$	(343	)	$	(1,144	)	$	6,137



Nine Months Ended September 30, (in thousands)	Partnership Timber			Funds Timber			Timberland Investment Management			Real Estate			Other			Consolidated
2018
Revenue - internal	$	33,313		$	40,711		$	3,376		$	7,621		$	—		$	85,021
Eliminations	(366		)	—			(3,376		)	(372		)	—			(4,114		)
Revenue - external	32,947			40,711			—			7,249			—			80,907

Cost of sales	(11,996		)	(28,754		)	—			(2,894		)	—			(43,644		)

Operating, general and administrative expenses - internal	(5,076		)	(6,766		)	(3,337		)	(3,327		)	(5,033		)	(23,539		)
Eliminations	135			3,376			419			105			79			4,114
Operating, general and administrative expenses - external	(4,941		)	(3,390		)	(2,918		)	(3,222		)	(4,954		)	(19,425		)
Environmental remediation	—			—			—			(2,900		)	—			(2,900		)
Income (loss) from operations - internal	16,241			5,191			39			(1,500		)	(5,033		)	14,938
Eliminations	(231		)	3,376			(2,957		)	(267		)	79			—
Income (loss) from operations - external	$	16,010		$	8,567		$	(2,918	)	$	(1,767	)	$	(4,954	)	$	14,938

Income (loss) from operations - internal	$	16,241		$	5,191		$	39		$	(1,500	)	$	(5,033	)	$	14,938
Depletion, depreciation, and amortization	2,930			18,275			48			204			35			21,492
Environmental remediation	—			—			—			2,900			—			2,900
Adjusted EBITDDA	$	19,171		$	23,466		$	87		$	1,604		$	(4,998	)	$	39,330

2017
Revenue - internal	$	26,425		$	22,061		$	2,494		$	4,136		$	—		$	55,116
Eliminations	(252		)	—			(2,494		)	(331		)	—			(3,077		)
Revenue - external	26,173			22,061			—			3,805			—			52,039

Cost of sales	(10,430		)	(18,000		)	—			(3,138		)	—			(31,568		)

Operating, general and administrative expenses - internal	(4,286		)	(5,372		)	(2,705		)	(3,929		)	(4,321		)	(20,613		)
Eliminations	135			2,494			309			58			81			3,077
Operating, general and administrative expenses - external	(4,151		)	(2,878		)	(2,396		)	(3,871		)	(4,240		)	(17,536		)
Gain on sale of timberland	—			12,547			—			—			—			12,547

Income (loss) from operations - internal	11,709			11,236			(211		)	(2,931		)	(4,321		)	15,482
Eliminations	(117		)	2,494			(2,185		)	(273		)	81			—
Income (loss) from operations - external	$	11,592		$	13,730		$	(2,396	)	$	(3,204	)	$	(4,240	)	$	15,482

Income (loss) from operations - internal	$	11,709		$	11,236		$	(211	)	$	(2,931	)	$	(4,321	)	$	15,482
Depletion, depreciation, and amortization	2,877			9,931			24			211			40			13,083
Gain on sale of timberland	—			(12,547		)	—			—			—			(12,547		)
Adjusted EBITDDA	$	14,586		$	8,620		$	(187	)	$	(2,720	)	$	(4,281	)	$	16,018

Earnings Per Unit

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Unit

Basic and diluted earnings per unit are calculated by dividing net income attributable to unitholders, adjusted for non-forfeitable distributions paid out to unvested restricted unitholders and preferred shareholders of Fund II and Fund III, by the weighted average units outstanding during the period. There were no dilutive securities outstanding during the periods presented. The following table shows the calculation of basic and diluted earnings per unit:



	Quarter Ended September 30,						Nine Months Ended September 30,
(in thousands, except per unit amounts)	2018			2017			2018			2017
Net and comprehensive income attributable to Pope Resources’ unitholders	$	2,644		$	1,658		$	8,562		$	5,186
Less:
Non-forfeitable distributions paid to unvested restricted unitholders	(27		)	(25		)	(55		)	(84		)
Preferred share dividends - ORM Timber Funds	(8		)	(8		)	(23		)	(23		)
Net and comprehensive income for calculation of earnings per unit	$	2,609		$	1,625		$	8,484		$	5,079

Basic and diluted weighted average units outstanding	4,316			4,324			4,319			4,325

Basic and diluted net earnings per unit	$	0.60		$	0.38		$	1.96		$	1.17

Stock Based Compensation	9 Months Ended
Stock Based Compensation	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	In the first quarter of 2018, the Partnership issued 11,393 restricted units pursuant to the management incentive compensation program and 3,575 restricted units to members of the Board of Directors. These restricted units vest ratably over four years with the grant date fair value equal to the market price on the date of grant. During the nine months ended September 30, 2018, 1,198 units were granted with no restrictions to certain board members who elected to receive their quarterly board compensation in the form of units rather than cash. Units granted to directors are included in the calculation of total equity compensation expense which is recognized over the vesting period, for restricted units, or immediately for unrestricted units. Grants to retirement-eligible individuals on the date of grant are expensed immediately. The Partnership recognized $202,000 and $166,000 of equity compensation expense in the third quarter of 2018 and 2017, respectively, related to these compensation programs and $924,000 and $950,000 for the nine months ended September 30, 2018 and 2017, respectively.

Cash Flow, Supplemental Disclosures	9 Months Ended
Cash Flow, Supplemental Disclosures	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures	Supplemental disclosure of cash flow information: interest paid, net of amounts capitalized, totaled $3.5 million and $3.2 million during the first nine months of 2018 and 2017, respectively. Income taxes paid totaled $660,000 and $65,000 for the first nine months of 2018 and 2017, respectively.

Timberland Acquisition	9 Months Ended
Timberland Acquisition	Sep. 30, 2018
Business Combinations [Abstract]
Timberland Acquisition	During the first nine months of 2018, the Partnership closed on six acquisitions of timberland in western Washington totaling 1,342 acres for $7.2 million. The Partnership utilized $598,000 of funds held by like-kind exchange intermediaries to fund a portion of these acquisitions. The aggregate purchase price was allocated $869,000 to land and $6.3 million to timber and roads. Part of the consideration paid for one of these transactions involved the conveyance by the Partnership of 365 acres of non-strategic timberland to the seller, valued at $214,000, with the remainder paid in cash.

Fair Value Disclosures	9 Months Ended
Fair Value Disclosures	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures	The Partnership’s financial instruments include cash, accounts receivable, and a note receivable, included in other assets, for which the carrying amount of each represents fair value based on current market interest rates or their short-term nature. Collectively, the Partnership’s and the Funds’ fixed-rate debt has a carrying value of $101.5 million as of September 30, 2018 and December 31, 2017. The estimated fair value of this debt, based on current interest rates for similar instruments (Level 2 inputs in the Fair Value Hierarchy), is approximately $101.1 million and $104.6 million as of September 30, 2018 and December 31, 2017, 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 + Details

Commitments and Contingencies

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

The Partnership had an accrual for estimated environmental remediation costs of $6.7 million and $5.0 million as of September 30, 2018 and December 31, 2017, respectively. The environmental remediation liability represents management’s estimate of payments to be made to remediate and monitor certain areas in and around Port Gamble Bay, Washington.

In December 2013, a consent decree and Clean-up Action Plan (CAP) related to Port Gamble Bay were finalized with the Washington State Department of Ecology (DOE) and filed with Kitsap County Superior Court. In the third quarter of 2015, the Partnership selected a contractor to complete the remediation work. Remediation activity began in late September 2015 and the required in-water portion of the cleanup was completed in January 2017. This will be followed by cleanup activity on the millsite and by a monitoring period, which is estimated to be approximately 15 years. Management’s cost estimates for the remainder of the project are based on amounts included in construction contracts, bids from contractors, and estimates for project management and other professional fees.

In February 2018, the Partnership and DOE entered into an agreed order with respect to the millsite under which the Partnership will perform a remedial investigation and feasibility study and develop a CAP. As with the in-water portion of the project, the CAP will define the scope of the remediation activity for the millsite. Based on design work completed to date, we discovered during the second quarter of 2018 that we will need to remove a greater volume of sediment from the millsite than we previously anticipated. The discovery of a higher volume of material to excavate, related capping, and updated estimates of long-term monitoring costs, caused the Partnership to increase its accrual by $2.9 million in the second quarter of 2018. Because the design of the millsite cleanup is not yet finalized, it is reasonably possible that the accrual for the millsite component of the liability may still increase. The design of the millsite is expected to be substantially complete by the end of 2018 and the cleanup activity is expected to commence in 2019.

Certain environmental laws allow state, federal, and tribal trustees (collectively, the Trustees) to bring suit against property owners to recover damages for injuries to natural resources. Like the liability that attaches to current property owners in the cleanup context, liability for natural resource damages (NRD) can attach to a property owner simply because an injury to natural resources resulted from releases of hazardous substances on that owner’s property, regardless of culpability for the release. In the case of Port Gamble, the Trustees are alleging that the Partnership has NRD liability because of releases that occurred on its property. The Partnership has been in discussions with the Trustees regarding their claims and the alleged conditions in Port Gamble Bay, and has also been discussing restoration alternatives that might address the damages the Trustees allege. Discussions with the Trustees may result in an obligation for the Partnership to fund NRD restoration activities and past assessment costs that are greater than it has estimated, and it is reasonably possible that this component of the liability may increase beyond what has been accrued in the liability. Management expects to be in a position to update its estimate of the NRD liability, or range of liability, by the end of 2018.

The environmental liability at September 30, 2018 is comprised of $2.1 million that management expects to expend in the next 12 months and $4.6 million thereafter.

Activity in the environmental liability is as follows:



(in thousands)	Balance at Beginning of the Period		Additions to Accrual		Expenditures for Remediation			Balance at Period-end
Year ended December 31, 2016	$	16,761	$	7,700	$	(11,691	)	$	12,770
Year ended December 31, 2017	12,770		—		(7,791		)	4,979
Quarter ended March 31, 2018	4,979		—		(219		)	4,760
Quarter ended June 30, 2018	4,760		2,900		(666		)	6,994
Quarter ended September 30, 2018	$	6,994	$	—	$	(260	)	$	6,734

Subsequent Events

9 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

n October 2018, the Partnership amended its timberland mortgage credit facilities (Credit Agreement) with Northwest Farm Credit Services to increase its borrowing capacity. The expanded credit facilities consist of the following components:


•	$30.0 million revolving line of credit bearing interest, paid quarterly, at LIBOR plus a margin of 1.60%, and maturing in October 2023. At closing, $15.7 million was outstanding under this facility.

•

$40.0 million delayed-draw term facility with an ultimate maturity of October 2028, on which $4.0 million was drawn in October 2018 as a variable-rate segment. The Partnership may borrow at any time under this facility through October 2023, subject to certain conditions established in the Credit Agreement. Borrowings may bear interest, paid quarterly, at variable or fixed rates at the election of the Partnership. Variable-rate segments bear interest at LIBOR plus a margin of 1.60%. Fixed-rate segments bear interest at the lenders pricing index at the time of borrowing plus a margin of 1.60% for maturities up to five years, and 1.65% for maturities greater than five years. Variable-rate segments may be converted to fixed-rate segments at the election of the Partnership. Fixed-rate loan segments must be for a minimum of $5.0 million, and no more than five such fixed-rate loan segments may be outstanding at any time. Fixed-rate loan segment maturities may be from one through ten years at the election of the Partnership, not to exceed the ultimate maturity of October 2028.


•	$71.8 million fully funded, long-term facility that consists of:

$9.8 million bearing interest at 6.40%, paid monthly, maturing September 2019

$6.0 million bearing interest at LIBOR plus 1.60%, paid quarterly, maturing October 2024

$10.0 million bearing interest at 6.05%, paid quarterly, maturing July 2025

$11.0 million bearing interest at 3.89%, paid quarterly, maturing July 2026

$11.0 million bearing interest at 4.13%, paid quarterly, maturing July 2028

$8.0 million bearing interest at 5.34%, paid quarterly, maturing October 2034

$8.0 million bearing interest at 5.34%, paid quarterly, maturing October 2035

$8.0 million bearing interest at 5.42%, paid quarterly, maturing October 2036

Variable-rate loan segments may be converted to fixed-rate loan segments with maturities from 1 - 10, 12, 15 or 18 years, not to exceed the ultimate maturity dates above. Any such fixed-rate loan segment will bear interest, paid quarterly, at the lender’s pricing index at the time of conversion plus margins of 1.60% for maturities up to five years, and 1.65% for maturities greater than five years.


•	Accordion feature that the Partnership may exercise in the future, subject to lender approval, to increase borrowing capacity by up to $50.0 million under either the $40.0 million or $71.8 million facility. Any such increases must be in $15.0 million minimum increments with no more than three such increases.

The amended credit facilities eliminate the 3:1 interest coverage ratio covenant that had previously applied to the loans. Instead, the interest coverage ratio will be calculated quarterly, and the interest margins will be adjusted if the interest coverage ratio is below 3:1. The maximum interest margin is 2.20%, for variable-rate loan segments and prospective fixed-rate loan segments with maturities up to five years, and 2.25% for prospective fixed-rate loan segments with maturities greater than five years. The lender may reset the interest margin in October 2023, for the $40.0 million facility, and in October 2023, 2028, and 2033, for the $71.8 million facility.

The amended credit facilities retain the requirements that the Partnership 1) not exceed a maximum debt-to-capitalization ratio of 30%, with total capitalization calculated using fair market (rather than carrying) value of timberland, roads and timber, and 2) not exceed a maximum loan-to-appraised value of collateral of 50%. These amended facilities are collateralized by a portion of the Partnership’s timberland.

The Partnership intends to use borrowing capacity under these facilities to repay the $9.8 million fixed-rate loan segment that matures in September 2019. Accordingly, this loan segment is reflected in long-term debt at September 30, 2018.

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements	In February 2016, the FASB established Topic 842, Leases, which requires lessees to recognize leases on the balance sheet and disclose certain information about leasing arrangements. The new standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as financing or operating, with classification affecting the pattern and classification of expense recognition in the income statement. For lessors, leases will be classified as a sales-type, direct financing, or operating lease. A lease is classified as a sales-type lease if any one of five criteria are met, each of which indicate that the lease, in effect, transfers control of the underlying asset to the lessee. If none of those five criteria are met, but two additional criteria are both met, indicating that the lessor has transferred substantially all the risks and benefits of the underlying asset to the lessee and a third party, the lease is a direct financing lease. All leases that are not sales-type or direct financing leases are operating leases. The new standard is effective for us on January 1, 2019. We expect to adopt the new standard on January 1, 2019 and use the effective date as our date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. The new standard provides a number of optional practical expedients in transition. We expect to elect all of the new standard’s available transition practical expedients. Due to the Partnership’s limited leasing activity, we do not expect the effect of this standard to be material to the Partnership’s consolidated financial statements. As a lessee, we currently believe that the most significant effect relates to the recognition of new ROU assets and lease liabilities on our balance sheet for our leases, which consist principally of leases of office equipment and office space. We expect to elect the practical expedient to not separate lease and non-lease components for all leases. As a lessor, we currently believe that all of our leases, which consist of leases of real estate, will continue to be classified as operating leases under the new standard. Effective January 1, 2018, the Partnership adopted Topic 606, Revenue from Contracts with Customers. For revenue from the Partnership Timber and Funds Timber segments, which consists primarily of the sale of logs, there were no changes to the timing or amount of revenue recognized because contracts are legally enforceable, the transaction price is fixed, and performance is completed and control transfers at a point in time, typically when risk of loss and title passes to the customer. Similarly, no changes were identified to the timing or amount of revenue recognized from certain components of other revenue in these segments, including commercial thinning, royalties from gravel mines and quarries, and land use permits. For timber deed sales, the timing of revenue recognition was accelerated under the new standard to the effective date of the contract, whereas under the previous revenue recognition guidance the revenue was generally recognized when the timber was harvested by the customer. Under Topic 606, revenue recognized from timber deed sales in the third quarter of 2018 was $588,000 less than it would have been under the previous revenue recognition standards. For the nine months ended September 30, 2018, revenue recognized under Topic 606 was $6.9 million greater than it would have been under the previous revenue recognition accounting standards. For the Real Estate segment, this new standard may result in accelerating the recognition of revenue for performance obligations that are satisfied over time, which generally consist of construction and landscaping activity in common areas completed after transaction closing. The Partnership adopted this standard using the cumulative effect transition method applied to uncompleted contracts as of the date of adoption. The Partnership, however, had no uncompleted contracts at the date of adoption. Accordingly, the adoption of this standard did not have a cumulative effect on the Partnership’s consolidated financial statements.

Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Summary of Contract Assets

Significant changes in the contract asset balance during the period were as follows, and there were no contract liabilities as of September 30, 2018, and December 31, 2017:



Contract assets, January 1, 2018	$	—
Revenue recognized from the satisfaction of performance obligations	10,255
Revenue recognized from changes in estimates of variable consideration	249
Transferred to receivables from contract assets	(5,557		)
Contract assets, September 30, 2018	$	4,947

Disaggregation of Revenue

The following table breaks down revenue for the Real Estate segment for the quarters and nine months ended September 30, 2018 and 2017:



	Quarter ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017

Development rights (CE)	$	—	$	—	$	3,730	$	—
Residential land sales	1,975		2,487		2,126		2,942
Unimproved land	—		—		125		—
Total land sales	1,975		2,487		5,981		2,942
Rentals and other	541		336		1,268		863
Total revenue	$	2,516	$	2,823	$	7,249	$	3,805

The following table presents log sale and other revenue for the quarters and nine months ended September 30, 2018 and 2017:



(in thousands)	Quarter ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Partnership Timber
Log sale revenue	$	11,638	$	8,298	$	31,312	$	24,686
Other revenue	601		600		1,635		1,487
Total revenue	$	12,239	$	8,898	$	32,947	$	26,173

Funds Timber
Log sale revenue	$	11,353	$	5,682	$	29,356	$	19,912
Timber deed sale revenue	1,640		1,235		10,504		1,945
Other revenue	260		165		851		204
Total revenue	$	13,253	$	7,082	$	40,711	$	22,061

Balance Sheet Of Partnership Co-Investments (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Partnership's Consolidated Balance Sheet included Assets and Liabilities of Funds

The assets and liabilities of the Funds as of September 30, 2018, and December 31, 2017, were as follows:



(in thousands)	September 30, 2018		December 31, 2017
Assets:
Cash	$	4,575	$	1,636
Other current assets	7,905		2,481
Total current assets	12,480		4,117
Properties and equipment, net of accumulated depreciation	332,068		235,046
Other long-term assets	—		5,683
Total assets	$	344,548	$	244,846
Liabilities and equity:
Current liabilities	$	3,635	$	2,862
Long-term debt, net of unamortized debt issuance costs	57,307		57,291
Funds’ equity	283,606		184,693
Total liabilities and equity	$	344,548	$	244,846

Other Assets (Tables)

9 Months Ended

Sep. 30, 2018

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consisted of the following at September 30, 2018 and December 31, 2017:



	September 30, 2018		December 31, 2017

Deferred tax assets, net	$	412	$	465
Cash held by like-kind exchange intermediaries	—		598
Deposits for acquisitions of timberland	—		5,688
Investment in Real Estate joint venture entity	5,895		5,895
Advances to Real Estate joint venture entity	753		37
Note receivable	1,802		2,625
Total	$	8,862	$	15,308

Segment Reporting Disclosure (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Reconciliation of Internally Reported Income (Loss) from Operations to Externally Reported Income (Loss) from Operations by Business Segment

The following tables reconcile internally reported income (loss) from operations to externally reported income (loss) from operations by business segment.



Quarter ended September 30, (in thousands)	Partnership Timber			Funds Timber			Timberland Investment Management			Real Estate			Other			Consolidated
2018
Revenue - internal	$	12,373		$	13,253		$	1,212		$	2,636		$	—		$	29,474
Eliminations	(134		)	—			(1,212		)	(120		)	—			(1,466		)
Revenue - external	12,239			13,253			—			2,516			—			28,008

Cost of sales	(4,976		)	(9,932		)	—			(1,861		)	—			(16,769		)

Operating, general and administrative expenses - internal	(1,729		)	(2,435		)	(1,206		)	(1,209		)	(1,954		)	(8,533		)
Eliminations	43			1,212			151			36			24			1,466
Operating, general and administrative expenses - external	(1,686		)	(1,223		)	(1,055		)	(1,173		)	(1,930		)	(7,067		)
Income (loss) from operations - internal	5,668			886			6			(434		)	(1,954		)	4,172
Eliminations	(91		)	1,212			(1,061		)	(84		)	24			—

Income (loss) from operations - external	$	5,577		$	2,098		$	(1,055	)	$	(518	)	$	(1,930	)	$	4,172

Income (loss) from operations - internal	$	5,668		$	886		$	6		$	(434	)	$	(1,954	)	$	4,172
Depletion, depreciation, and amortization	1,094			5,906			21			68			10			7,099
Adjusted EBITDDA	$	6,762		$	6,792		$	27		$	(366	)	$	(1,944	)	$	11,271

2017
Revenue - internal	$	8,981		$	7,082		$	829		$	2,920		$	—		$	19,812
Eliminations	(83		)	—			(829		)	(97		)	—			(1,009		)
Revenue - external	8,898			7,082			—			2,823			—			18,803

Cost of sales	(3,552		)	(5,717		)	—			(2,119		)	—			(11,388		)

Operating, general and administrative expenses - internal	(1,576		)	(1,937		)	(780		)	(1,213		)	(1,157		)	(6,663		)
Eliminations	38			829			101			18			23			1,009
Operating, general and administrative expenses -external	(1,538		)	(1,108		)	(679		)	(1,195		)	(1,134		)	(5,654		)
Gain on sale of timberland	—			44			—			—			—			44
Income (loss) from operations - internal	3,853			(528		)	49			(412		)	(1,157		)	1,805
Eliminations	(45		)	829			(728		)	(79		)	23			—

Income (loss) from operations - external	$	3,808		$	301		$	(679	)	$	(491	)	$	(1,134	)	$	1,805

Income (loss) from operations - internal	$	3,853		$	(528	)	$	49		$	(412	)	$	(1,157	)	$	1,805
Depletion, depreciation, and amortization	912			3,374			8			69			13			4,376
(Gain) loss on sale of timberland	—			(44		)	—			—			—			(44		)
Adjusted EBITDDA	$	4,765		$	2,802		$	57		$	(343	)	$	(1,144	)	$	6,137



Nine Months Ended September 30, (in thousands)	Partnership Timber			Funds Timber			Timberland Investment Management			Real Estate			Other			Consolidated
2018
Revenue - internal	$	33,313		$	40,711		$	3,376		$	7,621		$	—		$	85,021
Eliminations	(366		)	—			(3,376		)	(372		)	—			(4,114		)
Revenue - external	32,947			40,711			—			7,249			—			80,907

Cost of sales	(11,996		)	(28,754		)	—			(2,894		)	—			(43,644		)

Operating, general and administrative expenses - internal	(5,076		)	(6,766		)	(3,337		)	(3,327		)	(5,033		)	(23,539		)
Eliminations	135			3,376			419			105			79			4,114
Operating, general and administrative expenses - external	(4,941		)	(3,390		)	(2,918		)	(3,222		)	(4,954		)	(19,425		)
Environmental remediation	—			—			—			(2,900		)	—			(2,900		)
Income (loss) from operations - internal	16,241			5,191			39			(1,500		)	(5,033		)	14,938
Eliminations	(231		)	3,376			(2,957		)	(267		)	79			—
Income (loss) from operations - external	$	16,010		$	8,567		$	(2,918	)	$	(1,767	)	$	(4,954	)	$	14,938

Income (loss) from operations - internal	$	16,241		$	5,191		$	39		$	(1,500	)	$	(5,033	)	$	14,938
Depletion, depreciation, and amortization	2,930			18,275			48			204			35			21,492
Environmental remediation	—			—			—			2,900			—			2,900
Adjusted EBITDDA	$	19,171		$	23,466		$	87		$	1,604		$	(4,998	)	$	39,330

2017
Revenue - internal	$	26,425		$	22,061		$	2,494		$	4,136		$	—		$	55,116
Eliminations	(252		)	—			(2,494		)	(331		)	—			(3,077		)
Revenue - external	26,173			22,061			—			3,805			—			52,039

Cost of sales	(10,430		)	(18,000		)	—			(3,138		)	—			(31,568		)

Operating, general and administrative expenses - internal	(4,286		)	(5,372		)	(2,705		)	(3,929		)	(4,321		)	(20,613		)
Eliminations	135			2,494			309			58			81			3,077
Operating, general and administrative expenses - external	(4,151		)	(2,878		)	(2,396		)	(3,871		)	(4,240		)	(17,536		)
Gain on sale of timberland	—			12,547			—			—			—			12,547

Income (loss) from operations - internal	11,709			11,236			(211		)	(2,931		)	(4,321		)	15,482
Eliminations	(117		)	2,494			(2,185		)	(273		)	81			—
Income (loss) from operations - external	$	11,592		$	13,730		$	(2,396	)	$	(3,204	)	$	(4,240	)	$	15,482

Income (loss) from operations - internal	$	11,709		$	11,236		$	(211	)	$	(2,931	)	$	(4,321	)	$	15,482
Depletion, depreciation, and amortization	2,877			9,931			24			211			40			13,083
Gain on sale of timberland	—			(12,547		)	—			—			—			(12,547		)
Adjusted EBITDDA	$	14,586		$	8,620		$	(187	)	$	(2,720	)	$	(4,281	)	$	16,018

Earnings Per Unit (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Basic and Diluted Earnings per Unit

The following table shows the calculation of basic and diluted earnings per unit:



	Quarter Ended September 30,						Nine Months Ended September 30,
(in thousands, except per unit amounts)	2018			2017			2018			2017
Net and comprehensive income attributable to Pope Resources’ unitholders	$	2,644		$	1,658		$	8,562		$	5,186
Less:
Non-forfeitable distributions paid to unvested restricted unitholders	(27		)	(25		)	(55		)	(84		)
Preferred share dividends - ORM Timber Funds	(8		)	(8		)	(23		)	(23		)
Net and comprehensive income for calculation of earnings per unit	$	2,609		$	1,625		$	8,484		$	5,079

Basic and diluted weighted average units outstanding	4,316			4,324			4,319			4,325

Basic and diluted net earnings per unit	$	0.60		$	0.38		$	1.96		$	1.17

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Activity in Environmental Liability

Activity in the environmental liability is as follows:



(in thousands)	Balance at Beginning of the Period		Additions to Accrual		Expenditures for Remediation			Balance at Period-end
Year ended December 31, 2016	$	16,761	$	7,700	$	(11,691	)	$	12,770
Year ended December 31, 2017	12,770		—		(7,791		)	4,979
Quarter ended March 31, 2018	4,979		—		(219		)	4,760
Quarter ended June 30, 2018	4,760		2,900		(666		)	6,994
Quarter ended September 30, 2018	$	6,994	$	—	$	(260	)	$	6,734

Revenue from Contracts with Customers (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 28,008,000	$ 18,803,000	$ 80,907,000	$ 52,039,000
Accounts receivable, net	5,654,000		5,654,000		$ 6,427,000
Contract liabilities	0		0		0
Receivables from contracts with customers
Disaggregation of Revenue [Line Items]
Accounts receivable, net	4,400,000		4,400,000		$ 4,400,000
Topic 606 \| Timber deed sale revenue \| Difference due to Topic 606
Disaggregation of Revenue [Line Items]
Revenue	$ (588,000)		$ 6,900,000

Revenue from Contracts with Customers (Contract Assets) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018 USD ($)
Contract With Customer, Asset And Liability [Roll Forward]
Contract assets, January 1, 2018	$ 0
Revenue recognized from the satisfaction of performance obligations	10,255
Revenue recognized from changes in estimates of variable consideration	249
Transferred to receivables from contract assets	(5,557)
Contract assets, September 30, 2018	$ 4,947

Revenue from Contracts with Customers (Log Sale and Other Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 28,008	$ 18,803	$ 80,907	$ 52,039
Partnership Timber
Disaggregation of Revenue [Line Items]
Revenue	12,239	8,898	32,947	26,173
Funds Timber
Disaggregation of Revenue [Line Items]
Revenue	13,253	7,082	40,711	22,061
Log sale revenue \| Partnership Timber
Disaggregation of Revenue [Line Items]
Revenue	11,638	8,298	31,312	24,686
Log sale revenue \| Funds Timber
Disaggregation of Revenue [Line Items]
Revenue	11,353	5,682	29,356	19,912
Timber deed sale revenue \| Funds Timber
Disaggregation of Revenue [Line Items]
Revenue	1,640	1,235	10,504	1,945
Other revenue \| Partnership Timber
Disaggregation of Revenue [Line Items]
Revenue	601	600	1,635	1,487
Other revenue \| Funds Timber
Disaggregation of Revenue [Line Items]
Revenue	$ 260	$ 165	$ 851	$ 204

Revenue from Contracts with Customers (Real Estate Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 28,008	$ 18,803	$ 80,907	$ 52,039
Real Estate
Disaggregation of Revenue [Line Items]
Revenue	2,516	2,823	7,249	3,805
Real Estate \| Total land sales
Disaggregation of Revenue [Line Items]
Revenue	1,975	2,487	5,981	2,942
Real Estate \| Development rights (CE)
Disaggregation of Revenue [Line Items]
Revenue	0	0	3,730	0
Real Estate \| Residential land sales
Disaggregation of Revenue [Line Items]
Revenue	1,975	2,487	2,126	2,942
Real Estate \| Unimproved land
Disaggregation of Revenue [Line Items]
Revenue	0	0	125	0
Real Estate \| Rentals and other
Disaggregation of Revenue [Line Items]
Revenue	$ 541	$ 336	$ 1,268	$ 863

Partners' Capital Notes Disclosure (Details)	Sep. 30, 2018 Partner shares	Dec. 31, 2017 shares
Equity [Abstract]
Number of general partners \| Partner	2
Number of partnership units owned by two general partners \| shares	60,000	60,000

Balance Sheet Of Partnership Co-Investments (Narrative) (Details) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2018 USD ($) Property	Jan. 31, 2017 USD ($) Property	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)	Oct. 31, 2018 USD ($)
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Pretax income (loss)			$ 2,861	$ 626	$ 11,235	$ 12,176
Fund II
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Operating term for Fund					10 years
Pope Resources and ORMLLC combined ownership percentage					20.00%
Number of tree farms sold \| Property		1
Proceeds from sale of tree farms		$ 26,500
Fund II \| Productive Land
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Pretax income (loss)						$ 2,500
Fund III
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Operating term for Fund					10 years
Pope Resources and ORMLLC combined ownership percentage					5.00%
Fund IV
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Operating term for Fund					15 years
Pope Resources and ORMLLC combined ownership percentage					15.00%
Total purchase price	$ 17,000
Payment for deposit							$ 5,700
Purchase price allocated to timber and roads	100,700
Purchase price allocated to underlying land	$ 13,300
Southwestern Oregon and South Puget Sound Washington \| Fund IV
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of acquisitions \| Property	2
Southwestern Oregon \| Fund IV
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of acquisitions \| Property	1
Total purchase price	$ 33,600
South Puget Sound, Washington \| Fund IV
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of acquisitions \| Property	1
Total purchase price	$ 80,400
Subsequent Event \| South Puget Sound, Washington
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Total purchase price								$ 4,800
Subsequent Event \| South Puget Sound, Washington \| Fund IV
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Total purchase price								$ 32,200

Balance Sheet Of Partnership Co-Investments (Partnership's Consolidated Balance Sheet included Assets and Liabilities of Funds) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets:
Cash	$ 4,575	$ 1,636
Total current assets	24,393	18,030
Properties and equipment, net of accumulated depreciation	451,438	347,335
Other assets	8,862	15,308
Total assets	484,693	380,673
Liabilities and equity:
Current liabilities	1,165	401
Total liabilities, partners’ capital and noncontrolling interests	484,693	380,673
Funds Timber
Assets:
Cash	4,575	1,636
Other current assets	7,905	2,481
Total current assets	12,480	4,117
Properties and equipment, net of accumulated depreciation	332,068	235,046
Other assets	0	5,683
Total assets	344,548	244,846
Liabilities and equity:
Current liabilities	3,635	2,862
Long-term debt, net of unamortized debt issuance costs	57,307	57,291
Funds’ equity	283,606	184,693
Total liabilities, partners’ capital and noncontrolling interests	$ 344,548	$ 244,846

Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred tax assets, net	$ 412	$ 465
Cash held by like-kind exchange intermediaries	0	598
Deposits for acquisitions of timberland	0	5,688
Investment in Real Estate joint venture entity	5,895	5,895
Advances to Real Estate joint venture entity	753	37
Note receivable	1,802	2,625
Total	$ 8,862	$ 15,308

Segment Reporting Disclosure (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment Reporting Disclosure (Details) $ in Thousands	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) fund	Sep. 30, 2017 USD ($)
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	$ 28,008	$ 18,803	$ 80,907	$ 52,039
Cost of sales	(16,769)	(11,388)	(43,644)	(31,568)
Operating, general and administrative expenses	(7,067)	(5,654)	(19,425)	(17,536)
Environmental remediation	0	0	(2,900)	0
Gain on sale of timberland	0	44	0	12,547
Income (loss) from operations	4,172	1,805	14,938	15,482
Depletion, depreciation, and amortization	7,099	4,376	21,492	13,083
Adjusted EBITDDA	11,271	6,137	39,330	16,018
Partnership Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	12,239	8,898	32,947	26,173
Cost of sales	(4,976)	(3,552)	(11,996)	(10,430)
Operating, general and administrative expenses	(1,686)	(1,538)	(4,941)	(4,151)
Environmental remediation			0
Gain on sale of timberland		0		0
Income (loss) from operations	5,577	3,808	16,010	11,592
Depletion, depreciation, and amortization	1,094	912	2,930	2,877
Adjusted EBITDDA	6,762	4,765	$ 19,171	14,586
Funds Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Number of private equity timber funds \| fund			3
Revenue	13,253	7,082	$ 40,711	22,061
Cost of sales	(9,932)	(5,717)	(28,754)	(18,000)
Operating, general and administrative expenses	(1,223)	(1,108)	(3,390)	(2,878)
Environmental remediation			0
Gain on sale of timberland		44		12,547
Income (loss) from operations	2,098	301	8,567	13,730
Depletion, depreciation, and amortization	5,906	3,374	18,275	9,931
Adjusted EBITDDA	6,792	2,802	23,466	8,620
Timberland Investment Management
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	0	0	0	0
Cost of sales	0	0	0	0
Operating, general and administrative expenses	(1,055)	(679)	(2,918)	(2,396)
Environmental remediation			0
Gain on sale of timberland		0		0
Income (loss) from operations	(1,055)	(679)	(2,918)	(2,396)
Depletion, depreciation, and amortization	21	8	48	24
Adjusted EBITDDA	27	57	87	(187)
Real Estate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	2,516	2,823	7,249	3,805
Cost of sales	(1,861)	(2,119)	(2,894)	(3,138)
Operating, general and administrative expenses	(1,173)	(1,195)	(3,222)	(3,871)
Environmental remediation			(2,900)
Gain on sale of timberland		0		0
Income (loss) from operations	(518)	(491)	(1,767)	(3,204)
Depletion, depreciation, and amortization	68	69	204	211
Adjusted EBITDDA	(366)	(343)	1,604	(2,720)
Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	0	0	0	0
Cost of sales	0	0	0	0
Operating, general and administrative expenses	(1,930)	(1,134)	(4,954)	(4,240)
Environmental remediation			0
Gain on sale of timberland		0		0
Income (loss) from operations	(1,930)	(1,134)	(4,954)	(4,240)
Depletion, depreciation, and amortization	10	13	35	40
Adjusted EBITDDA	(1,944)	(1,144)	(4,998)	(4,281)
Internal
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	29,474	19,812	85,021	55,116
Operating, general and administrative expenses	(8,533)	(6,663)	(23,539)	(20,613)
Income (loss) from operations	4,172	1,805	14,938	15,482
Internal \| Partnership Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	12,373	8,981	33,313	26,425
Operating, general and administrative expenses	(1,729)	(1,576)	(5,076)	(4,286)
Income (loss) from operations	5,668	3,853	16,241	11,709
Internal \| Funds Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	13,253	7,082	40,711	22,061
Operating, general and administrative expenses	(2,435)	(1,937)	(6,766)	(5,372)
Income (loss) from operations	886	(528)	5,191	11,236
Internal \| Timberland Investment Management
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	1,212	829	3,376	2,494
Operating, general and administrative expenses	(1,206)	(780)	(3,337)	(2,705)
Income (loss) from operations	6	49	39	(211)
Internal \| Real Estate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	2,636	2,920	7,621	4,136
Operating, general and administrative expenses	(1,209)	(1,213)	(3,327)	(3,929)
Income (loss) from operations	(434)	(412)	(1,500)	(2,931)
Internal \| Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	0	0	0	0
Operating, general and administrative expenses	(1,954)	(1,157)	(5,033)	(4,321)
Income (loss) from operations	(1,954)	(1,157)	(5,033)	(4,321)
Eliminations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	(1,466)	(1,009)	(4,114)	(3,077)
Operating, general and administrative expenses	1,466	1,009	4,114	3,077
Income (loss) from operations	0	0	0	0
Eliminations \| Partnership Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	(134)	(83)	(366)	(252)
Operating, general and administrative expenses	43	38	135	135
Income (loss) from operations	(91)	(45)	(231)	(117)
Eliminations \| Funds Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	0	0	0	0
Operating, general and administrative expenses	1,212	829	3,376	2,494
Income (loss) from operations	1,212	829	3,376	2,494
Eliminations \| Timberland Investment Management
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	(1,212)	(829)	(3,376)	(2,494)
Operating, general and administrative expenses	151	101	419	309
Income (loss) from operations	(1,061)	(728)	(2,957)	(2,185)
Eliminations \| Real Estate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	(120)	(97)	(372)	(331)
Operating, general and administrative expenses	36	18	105	58
Income (loss) from operations	(84)	(79)	(267)	(273)
Eliminations \| Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	0	0	0	0
Operating, general and administrative expenses	24	23	79	81
Income (loss) from operations	$ 24	$ 23	$ 79	$ 81

Earnings Per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net and comprehensive income attributable to Pope Resources’ unitholders	$ 2,644	$ 1,658	$ 8,562	$ 5,186
Less:
Non-forfeitable distributions paid to unvested restricted unitholders	(27)	(25)	(55)	(84)
Preferred share dividends - ORM Timber Funds	(8)	(8)	(23)	(23)
Net and comprehensive income for calculation of earnings per unit	$ 2,609	$ 1,625	$ 8,484	$ 5,079
Basic and diluted weighted average units outstanding (units)	4,316	4,324	4,319	4,325
Basic and diluted net earnings per unit (in dollars per unit)	$ 0.60	$ 0.38	$ 1.96	$ 1.17

Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
Stock Based Compensation (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation units, granted in period (in shares)				1,198
Restricted Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation units, granted in period (in shares)		11,393
Vesting period of restricted stock unit award				4 years
Restricted Units \| Long Term Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation expense	$ 202		$ 166	$ 924	$ 950
Restricted Units \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation units, granted in period (in shares)		3,575

Cash Flow, Supplemental Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Interest paid, net of amounts capitalized	$ 3,500	$ 3,200
Income taxes paid	$ 660	$ 65

Timberland Acquisition (Details) $ in Thousands	9 Months Ended
Timberland Acquisition (Details) $ in Thousands	Sep. 30, 2018 USD ($) a Property
Business Acquisition [Line Items]
Funds held by like-kind exchange intermediaries	$ 598
Productive Land
Business Acquisition [Line Items]
Transfer of non-strategic timberland to seller, in acres \| a	365
Transfer of non-strategic timberland to seller, value	$ 214
Western Washington
Business Acquisition [Line Items]
Number of acquisitions \| Property	6
Acres of land acquired \| a	1,342
Assets acquired	$ 7,200
Western Washington \| Land
Business Acquisition [Line Items]
Assets acquired	869
Western Washington \| Timber and roads
Business Acquisition [Line Items]
Assets acquired	$ 6,300

Fair Value Disclosures (Details) - Fixed-Rate Debt - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt outstanding carrying value	$ 101.5	$ 101.5
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt outstanding fair value	$ 101.1	$ 104.6

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Accrual for estimated environmental remediation costs	$ 6,734	$ 6,994	$ 4,760	$ 6,734	$ 4,979	$ 12,770	$ 16,761
Remediation activity monitoring period				15 years
Increase in accrual for estimated environmental remediation costs	0	$ 2,900	$ 0		$ 0	$ 7,700
Environmental liability, next 12 months	2,100			$ 2,100
Environmental liability thereafter	$ 4,600			$ 4,600

Commitments and Contingencies (Changes in Environmental Liability) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at Beginning of the Period	$ 6,994	$ 4,760	$ 4,979	$ 12,770	$ 16,761
Additions to Accrual	0	2,900	0	0	7,700
Expenditures for Remediation	(260)	(666)	(219)	(7,791)	(11,691)
Balance at Period-end	$ 6,734	$ 6,994	$ 4,760	$ 4,979	$ 12,770

Subsequent Events (Details) - Subsequent Event	1 Months Ended
Subsequent Events (Details) - Subsequent Event	Oct. 31, 2018 USD ($) increase loan_segment
Credit Agreement
Subsequent Event [Line Items]
Accordion feature to increase borrowing capacity	$ 50,000,000.0
Minimum increase in borrowing capacity	$ 15,000,000.0
Maximum number of increases \| increase	3
Interest coverage ratio covenant	300.00%
Maximum debt-to-capitalization coverage ratio covenant	30.00%
Maximum debt-to-appraised value of collateral covenant	50.00%
Credit Agreement Due September 2019
Subsequent Event [Line Items]
Fixed-rate loan segments	$ 9,800,000.0
Fixed interest rate	6.40%
Credit Agreement Due October 2024
Subsequent Event [Line Items]
Fixed-rate loan segments	$ 6,000,000.0
Credit Agreement Due October 2024 \| London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Basis spread on variable rate	1.60%
Credit Agreement Due July 2025
Subsequent Event [Line Items]
Fixed-rate loan segments	$ 10,000,000.0
Fixed interest rate	6.05%
Credit Agreement Due July 2026
Subsequent Event [Line Items]
Fixed-rate loan segments	$ 11,000,000.0
Fixed interest rate	3.89%
Credit Agreement Due July 2028
Subsequent Event [Line Items]
Fixed-rate loan segments	$ 11,000,000.0
Fixed interest rate	4.13%
Credit Agreement Due October 2034
Subsequent Event [Line Items]
Fixed-rate loan segments	$ 8,000,000.0
Fixed interest rate	5.34%
Credit Agreement Due October 2035
Subsequent Event [Line Items]
Fixed-rate loan segments	$ 8,000,000.0
Fixed interest rate	5.34%
Credit Agreement Due October 2036
Subsequent Event [Line Items]
Fixed-rate loan segments	$ 8,000,000.0
Fixed interest rate	5.42%
Revolving Credit Facility \| Credit Agreement
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 30,000,000.0
Line of credit outstanding	$ 15,700,000
Revolving Credit Facility \| Credit Agreement \| London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Basis spread on variable rate	1.60%
Delayed-Draw Facility \| Credit Agreement
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 40,000,000.0
Debt drawn	4,000,000
Fixed-rate loan segment, minimum	$ 5,000,000.0
Maximum number of fixed rate loan segments outstanding \| loan_segment	5
Delayed-Draw Facility \| Credit Agreement \| London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Basis spread on variable rate	1.60%
Facility \| Credit Agreement
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 71,800,000.0
Minimum \| Delayed-Draw Facility \| Credit Agreement
Subsequent Event [Line Items]
Debt term	1 year
Maximum \| Delayed-Draw Facility \| Credit Agreement
Subsequent Event [Line Items]
Debt term	10 years
Maturities up to five years \| Credit Agreement
Subsequent Event [Line Items]
Maximum interest margin	2.20%
Maturities up to five years \| Fixed Rate Loan Segment \| Lender's Rate Pricing Index
Subsequent Event [Line Items]
Basis spread on variable rate	1.60%
Maturities up to five years \| Delayed-Draw Facility \| Credit Agreement \| Lender's Rate Pricing Index
Subsequent Event [Line Items]
Basis spread on variable rate	1.60%
Maturities greater than five years \| Credit Agreement
Subsequent Event [Line Items]
Maximum interest margin	2.25%
Maturities greater than five years \| Fixed Rate Loan Segment \| Lender's Rate Pricing Index
Subsequent Event [Line Items]
Basis spread on variable rate	1.65%
Maturities greater than five years \| Delayed-Draw Facility \| Credit Agreement \| Lender's Rate Pricing Index
Subsequent Event [Line Items]
Basis spread on variable rate	1.65%
Maturities between 1 and 10 years \| Minimum \| Variable Rate Loan Segment
Subsequent Event [Line Items]
Debt term	1 year
Maturities between 1 and 10 years \| Maximum \| Variable Rate Loan Segment
Subsequent Event [Line Items]
Debt term	10 years
Maturities at 12 years \| Variable Rate Loan Segment
Subsequent Event [Line Items]
Debt term	12 years
Maturities at 15 years \| Variable Rate Loan Segment
Subsequent Event [Line Items]
Debt term	15 years
Maturities at 18 years \| Variable Rate Loan Segment
Subsequent Event [Line Items]
Debt term	18 years