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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2019	Oct. 31, 2019
Document And Entity Information [Abstract]
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, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,354,927

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets
Partnership cash	$ 990	$ 1,784
ORM Timber Funds cash	2,909	3,330
Cash	3,899	5,114
Restricted cash	892	943
Total cash and restricted cash	4,791	6,057
Accounts receivable, net	3,327	4,670
Contract assets	2,620	2,872
Land held for sale	384	5,697
Prepaid expenses and other current assets	947	1,070
Total current assets	12,069	20,366
Properties and equipment, at cost
Timber and roads	376,861	377,970
Timberland	77,109	74,267
Land held for development	20,243	20,891
Buildings and equipment, net of accumulated depreciation (2019 - $8,066; 2018 - $8,223)	5,452	5,500
Total properties and equipment, at cost	479,665	478,628
Other assets	7,170	9,255
Total assets	498,904	508,249
Current liabilities
Accounts payable	2,488	2,379
Accrued liabilities	5,928	5,191
Deferred revenue	244	336
Current portion of environmental remediation liability	1,140	1,082
Other current liabilities	1,238	865
Total current liabilities	36,157	9,981
Environmental remediation and other long-term liabilities	7,627	8,427
Partners’ capital and noncontrolling interests
General partners' capital (units issued and outstanding 2019 - 60; 2018 - 60)	846	944
Limited partners' capital (units issued and outstanding 2019 - 4,258; 2018 - 4,253)	48,574	56,533
Noncontrolling interests	281,034	281,123
Total partners’ capital and noncontrolling interests	330,454	338,600
Total liabilities, partners’ capital and noncontrolling interests	498,904	508,249
Consolidated Entity Excluding Variable Interest Entities (VIE)
Current liabilities
Current portion of long-term debt	132	128
Long-term debt, net of unamortized debt issuance costs and current portion	92,323	93,928
Variable Interest Entity, Primary Beneficiary
Current liabilities
Current portion of long-term debt	24,987	0
Long-term debt, net of unamortized debt issuance costs and current portion	$ 32,343	$ 57,313

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Buildings and equipment, accumulated depreciation	$ 8,066	$ 8,223
General partners’ capital, units issued (in units)	60,000	60,000
General partners’ capital, units outstanding (in units)	60,000	60,000
Limited partners’ capital, units issued (in units)	4,258,000	4,253,000
Limited partners’ capital, units outstanding (in units)	4,258,000	4,253,000

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue	$ 27,948	$ 28,008	$ 80,965	$ 80,907
Cost of sales	(21,193)	(16,769)	(58,636)	(43,644)
Operating expenses	(5,538)	(5,137)	(15,007)	(14,471)
Environmental remediation expense	0	0	0	(2,900)
General and administrative expenses	(3,234)	(1,930)	(6,774)	(4,954)
Income (loss) from operations	(2,017)	4,172	548	14,938
Interest expense, net	(1,420)	(1,311)	(4,385)	(3,703)
Income (loss) before income taxes	(3,437)	2,861	(3,837)	11,235
Income tax expense	(400)	(117)	(435)	(243)
Net income	(3,837)	2,744	(4,272)	10,992
Comprehensive income (loss)	(3,837)	2,744	(4,272)	10,992
Net income attributable to unitholders	(579)	2,644	4,937	8,562
Comprehensive income (loss) attributable to unitholders	(579)	2,644	4,937	8,562
Allocable to general partners	(8)	37	69	119
Allocable to limited partners	$ (571)	$ 2,607	$ 4,868	$ 8,443
Basic and diluted earnings per unit attributable to unitholders (in dollars per unit)	$ (0.15)	$ 0.60	$ 1.11	$ 1.96
Basic and diluted weighted average units outstanding (in units)	4,317	4,316	4,322	4,319
Distributions per unit (in dollars per unit)	$ 1.00	$ 0.80	$ 3.00	$ 2.20
ORM Timber Funds
Net loss attributable to noncontrolling interests	$ 3,148	$ (110)	$ 9,058	$ (2,498)
Comprehensive loss attributable to noncontrolling interests	3,148	(110)	9,058	(2,498)
Real Estate
Net loss attributable to noncontrolling interests	110	10	151	68
Comprehensive loss attributable to noncontrolling interests	$ 110	$ 10	$ 151	$ 68

Condensed Consolidated Statements of Partners' Capital and Noncontrolling Interests (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Noncontrolling Interests	General Partners	Limited Partners
Beginning balance (in units) at Dec. 31, 2017	4,311
Beginning balance at Dec. 31, 2017	$ 240,626	$ 176,079	$ 1,028	$ 63,519
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	5,715	(3)	79	5,639
Cash distributions	(6,533)	(3,481)	(42)	(3,010)
Capital call	$ 92,280	92,280
Equity-based compensation (in units)	15
Equity-based compensation	$ 523		7	516
Units issued under distribution reinvestment plan (in units)	1
Units issued under distribution reinvestment plan	$ 59			59
Unit repurchases (in units)	(4)
Unit repurchases	$ (292)			(292)
Payroll taxes paid on unit net settlements (in units)	(1)
Payroll taxes paid on unit net settlements	$ (102)		(1)	(101)
Ending balance (in units) at Mar. 31, 2018	4,322
Ending balance at Mar. 31, 2018	$ 332,276	264,875	1,071	66,330
Beginning balance (in units) at Dec. 31, 2017	4,311
Beginning balance at Dec. 31, 2017	$ 240,626	176,079	1,028	63,519
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	$ 10,992
Ending balance (in units) at Sep. 30, 2018	4,314
Ending balance at Sep. 30, 2018	$ 323,101	259,572	1,026	62,503
Beginning balance (in units) at Mar. 31, 2018	4,322
Beginning balance at Mar. 31, 2018	$ 332,276	264,875	1,071	66,330
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	2,533	2,333	3	197
Cash distributions	(5,893)	(2,842)	(43)	(3,008)
Equity-based compensation	$ 199		3	196
Units issued under distribution reinvestment plan (in units)	1
Units issued under distribution reinvestment plan	$ 61			61
Unit repurchases (in units)	(5)
Unit repurchases	$ (361)			(361)
Ending balance (in units) at Jun. 30, 2018	4,318
Ending balance at Jun. 30, 2018	$ 328,815	264,366	1,034	63,415
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	2,744	100	37	2,607
Cash distributions	(8,382)	(4,894)	(48)	(3,440)
Equity-based compensation	202		3	199
Units issued under distribution reinvestment plan	$ 8			8
Unit repurchases (in units)	(4)
Unit repurchases	$ (286)			(286)
Ending balance (in units) at Sep. 30, 2018	4,314
Ending balance at Sep. 30, 2018	$ 323,101	259,572	1,026	62,503
Beginning balance (in units) at Dec. 31, 2018	4,313
Beginning balance at Dec. 31, 2018	$ 338,600	281,123	944	56,533
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	767	(2,544)	46	3,265
Cash distributions	(7,442)	(3,076)	(60)	(4,306)
Capital call	17,259	17,259
Preferred stock issuance	$ 125	125
Equity-based compensation (in units)	17
Equity-based compensation	$ 593		8	585
Units issued under distribution reinvestment plan	$ 24			24
Unit repurchases (in units)	(3)
Unit repurchases	$ (166)			(166)
Payroll taxes paid on unit net settlements (in units)	(1)
Payroll taxes paid on unit net settlements	$ (79)		(1)	(78)
Ending balance (in units) at Mar. 31, 2019	4,326
Ending balance at Mar. 31, 2019	$ 349,681	292,887	937	55,857
Beginning balance (in units) at Dec. 31, 2018	4,313
Beginning balance at Dec. 31, 2018	$ 338,600	281,123	944	56,533
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	$ (4,272)
Ending balance (in units) at Sep. 30, 2019	4,318
Ending balance at Sep. 30, 2019	$ 330,454	281,034	846	48,574
Beginning balance (in units) at Mar. 31, 2019	4,326
Beginning balance at Mar. 31, 2019	$ 349,681	292,887	937	55,857
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	(1,202)	(3,407)	31	2,174
Cash distributions	$ (7,834)	(3,475)	(60)	(4,299)
Equity-based compensation (in units)	1
Equity-based compensation	$ 197		3	194
Units issued under distribution reinvestment plan	$ 9			9
Unit repurchases (in units)	(7)
Unit repurchases	$ (500)			(500)
Ending balance (in units) at Jun. 30, 2019	4,320
Ending balance at Jun. 30, 2019	$ 340,351	286,005	911	53,435
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	(3,837)	(3,258)	(8)	(571)
Cash distributions	$ (6,068)	(1,713)	(60)	(4,295)
Equity-based compensation (in units)	1
Equity-based compensation	$ 196		3	193
Units issued under distribution reinvestment plan	$ 9			9
Unit repurchases (in units)	(3)
Unit repurchases	$ (197)			(197)
Ending balance (in units) at Sep. 30, 2019	4,318
Ending balance at Sep. 30, 2019	$ 330,454	$ 281,034	$ 846	$ 48,574

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement of Cash Flows [Abstract]
Net income (loss)	$ (4,272)	$ 10,992
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion	20,924	21,104
Equity-based compensation	987	924
Depreciation and amortization	581	439
Cost of land sold	8,585	1,407
Other	251	48
Cash flows from changes in operating accounts
Accounts receivable, net	1,344	772
Prepaid expenses, contract assets, and other assets	1,028	(5,656)
Real estate project expenditures	(2,622)	(2,182)
Accounts payable and accrued liabilities	996	(489)
Environmental remediation accruals	0	2,900
Environmental remediation payments	(482)	(1,145)
Other current and long-term liabilities	22	820
Net cash provided by operating activities	27,342	29,934
Cash flows from investing activities
Reforestation and roads	(2,164)	(2,534)
Capital expenditures	(419)	(571)
Proceeds from sale of property and equipment	142	10
Proceeds from insurance recovery	365	0
Deposit for acquisition of timberland - Partnership	(4)	0
Acquisitions of timberland - Partnership	(739)	(6,355)
Acquisitions of timberland - Funds	(19,344)	(108,364)
Net cash used in investing activities	(22,163)	(117,814)
Cash flows from financing activities
Line of credit borrowings	14,786	27,300
Line of credit repayments	(19,286)	(7,800)
Proceeds from issuance of long-term debt	3,000	0
Repayment of long-term debt	(95)	(92)
Payment of debt issuance costs and prepayment penalty	(125)	0
Proceeds from unit issuances - distribution reinvestment plan	42	128
Unit repurchases	(863)	(939)
Proceeds from preferred stock issuance - ORM Timber Funds	125	0
Payroll taxes paid on unit net settlements	(79)	(102)
Cash distributions to unitholders	(13,080)	(9,591)
Cash distributions from Real Estate joint venture	136	0
Cash distributions - ORM Timber Funds, net of distributions to Partnership	(8,265)	(11,217)
Capital call - ORM Timber Funds, net of Partnership contribution	17,259	92,280
Net cash provided by (used in) financing activities	(6,445)	89,967
Net increase (decrease) in cash and restricted cash	(1,266)	2,087
Cash and restricted cash at beginning of period	6,057	5,284
Cash and restricted cash at end of period	$ 4,791	$ 7,371

Organization, Consolidation and Presentation of Financial Statements Disclosure	9 Months Ended
	Sep. 30, 2019
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, 2019, and December 31, 2018, and the related condensed consolidated statements of comprehensive income, partners’ capital and noncontrolling interests, and cash flows for the nine-month periods ended September 30, 2019, and 2018, 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, 2018, is derived from the Partnership’s audited consolidated financial statements and notes thereto for the year ended December 31, 2018, 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, 2019.

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	The financial statements in the Partnership’s 2018 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. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. 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 are classified as financing or operating, with classification affecting the pattern and classification of expense recognition in the income statement. For lessors, leases are classified as a sales-type, direct financing, or operating lease. The Partnership adopted this new standard effective January 1, 2019 and utilized the effective date as the date of initial application. Consequently, financial information was not updated, and the disclosures required under the new standard are not provided for dates and periods prior to January 1, 2019. The new standard provides a number of optional practical expedients in transition. The Partnership elected the ‘package of practical expedients’, which permits us to not reassess under the new standard our prior conclusions about lease identification, lease classification, and initial direct costs. We did not elect the use-of-hindsight or the practical expedient pertaining to land easements, the latter not being applicable to us. The Partnership recognized a ROU asset and lease liability of $294,000 as of January 1, 2019 in connection with the adoption of this standard and all of its leases continue to be classified as operating leases. Accordingly, the adoption of this standard did not have a cumulative effect, or material effect, on the Partnership’s consolidated financial statements.

Revenue from Contract with Customer

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

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. Included in “Accounts receivable, net” are $2.1 million and $3.0 million of receivables from contracts with customers as of September 30, 2019, and December 31, 2018, respectively.

Significant changes in the contract asset balance during the period were as follows, and there were no contract liabilities as of September 30, 2019, and December 31, 2018 (in thousands):



Contract assets, December 31, 2018	$	3,829
Revenue recognized from changes in estimates of variable consideration	194
Transferred to receivables from contract assets	(1,426		)
Contract assets, September 30, 2019	$	2,620

The contract assets in the table above represent rights to consideration for timber deeds transferred to the customer and are related primarily to the Funds Timber segment. These contracts provide the customer the legal right to harvest timber on a designated portion of the Funds’ or Partnership’s 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 by species 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 Partnership Timber and Funds Timber segments:



(in thousands)	Quarter ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Partnership Timber
Log sale revenue	$	5,107	$	11,638	$	33,514	$	31,312
Other revenue	601		601		1,565		1,635
Total revenue	$	5,708	$	12,239	$	35,079	$	32,947

Funds Timber
Log sale revenue	$	9,638	$	11,353	$	29,915	$	29,356
Timber deed sale revenue	23		1,640		217		10,504
Other revenue	42		260		1,761		851
Total revenue	$	9,703	$	13,253	$	31,893	$	40,711

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:



(in thousands)	Quarter ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018

Development rights (CE)	$	—	$	—	$	—	$	3,730
Residential land sales	12,150		1,975		12,795		2,126
Unimproved land	—		—		22		125
Total land sales	12,150		1,975		12,817		5,981
Rentals and other	387		541		1,176		1,268
Total revenue	$	12,537	$	2,516	$	13,993	$	7,249

Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

The Partnership is both a lessee and a lessor. A contract is determined to contain a lease if there is an identified asset to which the lessee has the right to substantially all of the economic benefits and has control over how the asset is used throughout the contract period. Upon adoption of ASC 842, Leases, the Partnership elected the practical expedients to not separate lease and non-lease components for all of its leases.

Lessee lease information

As a lessee, the Partnership’s leases consist of office equipment and office space and are classified as operating leases. Leases for some printers have a variable payment for printing in excess of a page allowance set in the lease contract. The discount rate for leases was determined based on Northwest Farm Credit Services’ (NWFCS), the Partnership’s lender, cost of funds for the lease period plus a margin of 1.60%, as provided for in the Partnership’s credit agreement with NWFCS.

The following table presents the balances of our right-of-use assets and lease liabilities and the balance sheet captions in which they are reported (in thousands):



	September 30, 2019		Balance Sheet caption

Right of use assets	$	179	Other assets
Lease liability - current	$	115	Other current liabilities
Lease liability - long-term	$	64	Environmental remediation and other long-term liabilities

The following table presents the components of lease costs and other lease information for the quarter ended September 30, 2019:



In thousands, except weighted-average information	Quarter ended September 30,					Nine months ended September 30,
	2019			2018		2019		2018
Lease cost
Operating lease cost	$	47		$	—	$	141	$	—
Variable lease cost	3			—		7		—
Total lease cost	$	50		$	—	$	148	$	—

Other lease information
Cash paid for amounts included in the measurement of lease liabilities	$	50		$	—	$	148	$	—
Right-of-use asset obtained in exchange for new leases	$	—		$	—	$	17	$	—
Weighted-average remaining lease term in years	1.6
Weighted average discount rate	4.2		%

Payments due under lease contracts for the next five years and thereafter are as follows (in thousands):



2019	$	120
2020	55
2021	10
2022	1
Unamortized discount	(7		)
Total lease liability at September 30, 2019	$	179

Lessor lease information

As a lessor, the Partnership’s leases consist of leases of commercial and residential real estate, reported in the Real Estate segment under “rentals and other”, and land leases on the Partnership’s and Funds’ timberland for cellular communication towers (Tower Leases), reported in the Partnership Timber and Funds Timber segments under “other revenue”. All these leases are classified as operating leases. Tower Leases have a variable payment component for revenue sharing from subleases of space on the tower. Tower Leases typically have a five-year term and two to five automatic five-year extensions.

Commercial real estate leases have non-lease components of taxes, insurance and common area maintenance. Tower Leases have non-lease components for real property taxes related to tenant improvements.

The following table presents the components of lease income for the three and nine months ended September 30, 2019 (in thousands):



(in thousands)	Quarter ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018

Lease Income
Operating lease income	$	452	$	—	$	1,261	$	—
Variable lease income	12		—		43		—
Total lease income	$	464	$	—	$	1,304	$	—

Buildings subject to operating leases had a cost of $2.1 million and accumulated depreciation of $1.2 million at September 30, 2019.

Lease income at September 30, 2019, based on payments due by period under the lease contracts, are presented in the following table (in thousands):



2019	$	699
2020	718
2021	662
2022	595
2023	563
Thereafter	3,785
Total	$	7,022

Leases

Lessee lease information

The following table presents the balances of our right-of-use assets and lease liabilities and the balance sheet captions in which they are reported (in thousands):



	September 30, 2019		Balance Sheet caption

Right of use assets	$	179	Other assets
Lease liability - current	$	115	Other current liabilities
Lease liability - long-term	$	64	Environmental remediation and other long-term liabilities

The following table presents the components of lease costs and other lease information for the quarter ended September 30, 2019:



In thousands, except weighted-average information	Quarter ended September 30,					Nine months ended September 30,
	2019			2018		2019		2018
Lease cost
Operating lease cost	$	47		$	—	$	141	$	—
Variable lease cost	3			—		7		—
Total lease cost	$	50		$	—	$	148	$	—

Other lease information
Cash paid for amounts included in the measurement of lease liabilities	$	50		$	—	$	148	$	—
Right-of-use asset obtained in exchange for new leases	$	—		$	—	$	17	$	—
Weighted-average remaining lease term in years	1.6
Weighted average discount rate	4.2		%

Payments due under lease contracts for the next five years and thereafter are as follows (in thousands):



2019	$	120
2020	55
2021	10
2022	1
Unamortized discount	(7		)
Total lease liability at September 30, 2019	$	179

Lessor lease information

Commercial real estate leases have non-lease components of taxes, insurance and common area maintenance. Tower Leases have non-lease components for real property taxes related to tenant improvements.

The following table presents the components of lease income for the three and nine months ended September 30, 2019 (in thousands):



(in thousands)	Quarter ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018

Lease Income
Operating lease income	$	452	$	—	$	1,261	$	—
Variable lease income	12		—		43		—
Total lease income	$	464	$	—	$	1,304	$	—

Buildings subject to operating leases had a cost of $2.1 million and accumulated depreciation of $1.2 million at September 30, 2019.

Lease income at September 30, 2019, based on payments due by period under the lease contracts, are presented in the following table (in thousands):



2019	$	699
2020	718
2021	662
2022	595
2023	563
Thereafter	3,785
Total	$	7,022

Partners' Capital Notes Disclosure	9 Months Ended
Partners' Capital Notes Disclosure	Sep. 30, 2019
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.

Supplemental Balance Sheet Disclosures

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Balance Sheet Disclosures

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; 10 years for each of Fund II and Fund III, and 15 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 2019, Fund IV closed on the acquisition of 7,100 acres of timberland in south central Washington for $20.3 million, of which the Partnership’s share was $3.0 million. At December 31, 2018, Fund IV had paid a deposit of $1.0 million in connection with the transaction, which was included in other assets. The purchase price was allocated $17.5 million to timber and roads, and $2.8 million to the underlying land.

The assets and liabilities of the Funds as of September 30, 2019, and December 31, 2018, were as follows:



(in thousands)	September 30, 2019		December 31, 2018
Assets:
Cash	$	2,909	$	3,330
Contract assets	2,553		2,780
Other current assets	1,821		2,151
Total current assets	7,283		8,261
Properties and equipment, net of accumulated depreciation	364,478		360,163
Other long-term assets	—		1,962
Total assets	$	371,761	$	370,386
Liabilities and equity:
Current liabilities	$	3,987	$	3,237
Current portion of long-term debt	24,987		—
Total current liabilities	28,974		3,237
Long-term debt, net of unamortized debt issuance costs and current portion	32,343		57,313
Other long-term liabilities	—		300
Funds’ equity	310,444		309,536
Total liabilities and equity	$	371,761	$	370,386

Other Assets Disclosure

9 Months Ended

Sep. 30, 2019

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

Other Assets Disclosure

Other assets consisted of the following at September 30, 2019 and December 31, 2018:



(in thousands)	September 30, 2019		December 31, 2018

Investment in Real Estate joint venture entity	$	5,577	$	5,891
Advances to Real Estate joint venture entity	934		804
Deferred tax assets, net	424		541
Right-of-use assets	179		—
Contract assets	—		957
Note receivable	52		57
Deposits for acquisitions of timberland	4		1,005
Total	$	7,170	$	9,255

Segment Reporting Disclosure

9 Months Ended

Sep. 30, 2019

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.

In the fourth quarter of 2018, the Partnership changed its method of reporting costs incurred by the Partnership Timber segment on behalf of the TIM segment, and reclassified $123,000 of operating expenses for the third quarter of 2018 and $366,000 for the first nine months of 2018 from the Partnership Timber segment to the TIM segment to conform to the current year presentation.



Quarter ended September 30, (in thousands)	Partnership Timber			Funds Timber			Timberland Investment Management			Real Estate			Other			Consolidated
2019
Revenue - internal	$	5,915		$	9,703		$	1,393		$	12,660		$	—		$	29,671
Eliminations	(207		)	—			(1,393		)	(123		)	—			(1,723		)
Revenue - external	5,708			9,703			—			12,537			—			27,948

Cost of sales	(3,032		)	(9,352		)	—			(8,809		)	—			(21,193		)

Operating, general and administrative expenses - internal	(1,521		)	(3,030		)	(1,265		)	(1,420		)	(3,259		)	(10,495		)
Eliminations	250			1,339			71			38			25			1,723
Operating, general and administrative expenses - external	(1,271		)	(1,691		)	(1,194		)	(1,382		)	(3,234		)	(8,772		)
Income (loss) from operations - internal	1,362			(2,679		)	128			2,431			(3,259		)	(2,017		)
Eliminations	43			1,339			(1,322		)	(85		)	25			—

Income (loss) from operations - external	$	1,405		$	(1,340	)	$	(1,194	)	$	2,346		$	(3,234	)	$	(2,017	)

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



Nine Months Ended September 30, (in thousands)	Partnership Timber			Funds Timber			Timberland Investment Management			Real Estate			Other			Consolidated
2019
Revenue - internal	$	35,676		$	31,893		$	4,235		$	14,359		$	—		$	86,163
Eliminations	(597		)	—			(4,235		)	(366		)	—			(5,198		)
Revenue - external	35,079			31,893			—			13,993			—			80,965

Cost of sales	(17,031		)	(31,728		)	—			(9,877		)	—			(58,636		)

Operating, general and administrative expenses - internal	(4,607		)	(8,268		)	(3,798		)	(3,455		)	(6,851		)	(26,979		)
Eliminations	729			4,080			207			105			77			5,198
Operating, general and administrative expenses - external	(3,878		)	(4,188		)	(3,591		)	(3,350		)	(6,774		)	(21,781		)
Income (loss) from operations - internal	14,038			(8,103		)	437			1,027			(6,851		)	548
Eliminations	132			4,080			(4,028		)	(261		)	77			—
Income (loss) from operations - external	$	14,170		$	(4,023	)	$	(3,591	)	$	766		$	(6,774	)	$	548

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

Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

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 the Funds, 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)	2019			2018			2019			2018
Net and comprehensive income attributable to Pope Resources’ unitholders	$	(579	)	$	2,644		$	4,937		$	8,562
Less:
Non-forfeitable distributions paid to unvested restricted unitholders	(38		)	(27		)	(114		)	(53		)
Preferred share dividends - ORM Timber Funds	(12		)	(8		)	(35		)	(23		)
Net and comprehensive income for calculation of earnings per unit	$	(629	)	$	2,609		$	4,788		$	8,486

Basic and diluted weighted average units outstanding	4,317			4,316			4,322			4,319

Basic and diluted net earnings per unit	$	(0.15	)	$	0.60		$	1.11		$	1.96

Disclosure of Compensation Related Costs, Share Based Payments	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Disclosure of Compensation Related Costs, Share Based Payments	In the first quarter of 2019, the Partnership issued 11,504 restricted units pursuant to the management incentive compensation program and 3,600 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, 2019, 1,263 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 $196,000 and $202,000 of equity compensation expense in the third quarter of 2019 and 2018, respectively, and $986,000 and $924,000 for the nine months ended September 30, 2019 and 2018, respectively, related to these compensation programs.

Cash Flow, Supplemental Disclosures	9 Months Ended
Cash Flow, Supplemental Disclosures	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures	Supplemental disclosure of cash flow information: interest paid, net of amounts capitalized, totaled $3.9 million and $3.2 million during the first nine months of 2019 and 2018, respectively. Income taxes paid totaled $82,000 and $660,000 for the first nine months of 2019 and 2018, respectively.

Fair Value Disclosures	9 Months Ended
Fair Value Disclosures	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures	The Partnership’s financial instruments include cash, accounts receivable, and notes receivable, included in prepaid expenses and other current asset and 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 $125.4 million as of September 30, 2019 and December 31, 2018. 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 $134.4 million and $126.3 million as of September 30, 2019 and December 31, 2018, 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 Disclosure

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure

The Partnership had an accrual for estimated environmental remediation costs of $8.6 million and $9.1 million as of September 30, 2019 and December 31, 2018, respectively. The environmental remediation liability represents management’s estimate of payments to be made to remedy and monitor certain areas in and around Port Gamble Bay, Washington. The liability at September 30, 2019 is comprised of $1.1 million that management expects to expend in the next 12 months and $7.5 million thereafter.

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. Construction activity commenced in late September 2015 and the required in-water portion of the cleanup was completed in January 2017. By the end of the third quarter of 2017, the sediments dredged from the Bay were moved to their permanent storage location on property owned by the Partnership a short distance from the town of Port Gamble. This effectively concluded the component of the project related to the in-water cleanup of Port Gamble Bay.

In February 2018, the Partnership and DOE entered into an agreed order with respect to the millsite under which the Partnership had performed a remedial investigation and feasibility study (RI/FS) and drafted a CAP. As with the in-water portion of the project, the CAP defines the scope of the remediation activity for the millsite.

As disclosed previously, 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. These discussions have progressed to the point where management has identified a short list of restoration projects that may resolve the Trustees’ NRD claims.

The RI/FS and CAP for the millsite will be reviewed by DOE prior to being finalized, which will be codified in a consent decree. For the NRD component of the project, discussions with the Trustees are continuing, and management expects those discussions will ultimately result in a settlement agreement. At present, management expects the CAP and consent decree for the millsite and the NRD settlement agreement to be finalized in the first half of 2020. In both cases, it is reasonably possible that cost estimates could change as a result of changes to either the millsite cleanup or the NRD restoration components of the liability, or both. Management currently expects the millsite cleanup and NRD restoration projects to occur over the next two to three years.

Finally, there will be a monitoring period that is expected to be approximately 15 years during which the Partnership will monitor conditions in the Bay, on the millsite, and at the storage location of the dredged and excavated sediments. During this monitoring phase, conditions may arise that require corrective action, and monitoring protocols may change over time. In addition, extreme weather events could cause damage to the sediment caps that would need to be repaired. These factors could result in additional costs.

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, 2017	$	12,770	$	—	$	(7,791	)	$	4,979
Year ended December 31, 2018	4,979		5,600		(1,496		)	9,083
Quarter ended March 31, 2019	9,083		—		(158		)	8,925
Quarter ended June 30, 2019	8,925		—		(203		)	8,722
Quarter ended September 30, 2019	8,722		—		(120		)	8,602

Debt

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Debt

In April 2019, the Partnership refinanced a $9.8 million debt tranche with Northwest Farm Credit Services that was originally due in September 2019. As refinanced, this debt has an ultimate maturity of April 2031. The $9.8 million refinancing is divided into three tranches with fixed rates, gross of patronage rebates, for specific periods, as follows:


•	$3.0 million at 4.35% through April 2027


•	$3.0 million at 4.51% through April 2029


•	$3.8 million at 4.60% through April 2031

On the expiration of the fixed-rate periods, the tranches can be repaid or refinanced without penalty, or revert to a floating rate or be fixed at then-current rates for periods not to exceed the ultimate maturity of April 2031. The Partnership paid a make-whole premium of $61,000 in connection with this refinancing.

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2019
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. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. 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 are classified as financing or operating, with classification affecting the pattern and classification of expense recognition in the income statement. For lessors, leases are classified as a sales-type, direct financing, or operating lease. The Partnership adopted this new standard effective January 1, 2019 and utilized the effective date as the date of initial application. Consequently, financial information was not updated, and the disclosures required under the new standard are not provided for dates and periods prior to January 1, 2019. The new standard provides a number of optional practical expedients in transition. The Partnership elected the ‘package of practical expedients’, which permits us to not reassess under the new standard our prior conclusions about lease identification, lease classification, and initial direct costs. We did not elect the use-of-hindsight or the practical expedient pertaining to land easements, the latter not being applicable to us. The Partnership recognized a ROU asset and lease liability of $294,000 as of January 1, 2019 in connection with the adoption of this standard and all of its leases continue to be classified as operating leases. Accordingly, the adoption of this standard did not have a cumulative effect, or material effect, on the Partnership’s consolidated financial statements.

Revenue from Contract with Customer (Tables)

9 Months Ended

Sep. 30, 2019

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, 2019, and December 31, 2018 (in thousands):



Contract assets, December 31, 2018	$	3,829
Revenue recognized from changes in estimates of variable consideration	194
Transferred to receivables from contract assets	(1,426		)
Contract assets, September 30, 2019	$	2,620

Disaggregation of Revenue

The following table presents log sale and other revenue for the Partnership Timber and Funds Timber segments:



(in thousands)	Quarter ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Partnership Timber
Log sale revenue	$	5,107	$	11,638	$	33,514	$	31,312
Other revenue	601		601		1,565		1,635
Total revenue	$	5,708	$	12,239	$	35,079	$	32,947

Funds Timber
Log sale revenue	$	9,638	$	11,353	$	29,915	$	29,356
Timber deed sale revenue	23		1,640		217		10,504
Other revenue	42		260		1,761		851
Total revenue	$	9,703	$	13,253	$	31,893	$	40,711

The following table breaks down revenue for the Real Estate segment:



(in thousands)	Quarter ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018

Development rights (CE)	$	—	$	—	$	—	$	3,730
Residential land sales	12,150		1,975		12,795		2,126
Unimproved land	—		—		22		125
Total land sales	12,150		1,975		12,817		5,981
Rentals and other	387		541		1,176		1,268
Total revenue	$	12,537	$	2,516	$	13,993	$	7,249

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Balance Sheet Classification of Operating Lease Assets and Liabilities

The following table presents the balances of our right-of-use assets and lease liabilities and the balance sheet captions in which they are reported (in thousands):



	September 30, 2019		Balance Sheet caption

Right of use assets	$	179	Other assets
Lease liability - current	$	115	Other current liabilities
Lease liability - long-term	$	64	Environmental remediation and other long-term liabilities

Lease Cost and Other Lease Information

The following table presents the components of lease costs and other lease information for the quarter ended September 30, 2019:



In thousands, except weighted-average information	Quarter ended September 30,					Nine months ended September 30,
	2019			2018		2019		2018
Lease cost
Operating lease cost	$	47		$	—	$	141	$	—
Variable lease cost	3			—		7		—
Total lease cost	$	50		$	—	$	148	$	—

Other lease information
Cash paid for amounts included in the measurement of lease liabilities	$	50		$	—	$	148	$	—
Right-of-use asset obtained in exchange for new leases	$	—		$	—	$	17	$	—
Weighted-average remaining lease term in years	1.6
Weighted average discount rate	4.2		%

Operating Lease Maturity

Payments due under lease contracts for the next five years and thereafter are as follows (in thousands):



2019	$	120
2020	55
2021	10
2022	1
Unamortized discount	(7		)
Total lease liability at September 30, 2019	$	179

Lease Income

The following table presents the components of lease income for the three and nine months ended September 30, 2019 (in thousands):



(in thousands)	Quarter ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018

Lease Income
Operating lease income	$	452	$	—	$	1,261	$	—
Variable lease income	12		—		43		—
Total lease income	$	464	$	—	$	1,304	$	—

Operating Lease Income Maturity

Lease income at September 30, 2019, based on payments due by period under the lease contracts, are presented in the following table (in thousands):



2019	$	699
2020	718
2021	662
2022	595
2023	563
Thereafter	3,785
Total	$	7,022

Supplemental Balance Sheet Disclosures (Tables)

9 Months Ended

Sep. 30, 2019

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, 2019, and December 31, 2018, were as follows:



(in thousands)	September 30, 2019		December 31, 2018
Assets:
Cash	$	2,909	$	3,330
Contract assets	2,553		2,780
Other current assets	1,821		2,151
Total current assets	7,283		8,261
Properties and equipment, net of accumulated depreciation	364,478		360,163
Other long-term assets	—		1,962
Total assets	$	371,761	$	370,386
Liabilities and equity:
Current liabilities	$	3,987	$	3,237
Current portion of long-term debt	24,987		—
Total current liabilities	28,974		3,237
Long-term debt, net of unamortized debt issuance costs and current portion	32,343		57,313
Other long-term liabilities	—		300
Funds’ equity	310,444		309,536
Total liabilities and equity	$	371,761	$	370,386

Other Assets Disclosure (Tables)

9 Months Ended

Sep. 30, 2019

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

Schedule of Other Assets

Other assets consisted of the following at September 30, 2019 and December 31, 2018:



(in thousands)	September 30, 2019		December 31, 2018

Investment in Real Estate joint venture entity	$	5,577	$	5,891
Advances to Real Estate joint venture entity	934		804
Deferred tax assets, net	424		541
Right-of-use assets	179		—
Contract assets	—		957
Note receivable	52		57
Deposits for acquisitions of timberland	4		1,005
Total	$	7,170	$	9,255

Segment Reporting Disclosure (Tables)

9 Months Ended

Sep. 30, 2019

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
2019
Revenue - internal	$	5,915		$	9,703		$	1,393		$	12,660		$	—		$	29,671
Eliminations	(207		)	—			(1,393		)	(123		)	—			(1,723		)
Revenue - external	5,708			9,703			—			12,537			—			27,948

Cost of sales	(3,032		)	(9,352		)	—			(8,809		)	—			(21,193		)

Operating, general and administrative expenses - internal	(1,521		)	(3,030		)	(1,265		)	(1,420		)	(3,259		)	(10,495		)
Eliminations	250			1,339			71			38			25			1,723
Operating, general and administrative expenses - external	(1,271		)	(1,691		)	(1,194		)	(1,382		)	(3,234		)	(8,772		)
Income (loss) from operations - internal	1,362			(2,679		)	128			2,431			(3,259		)	(2,017		)
Eliminations	43			1,339			(1,322		)	(85		)	25			—

Income (loss) from operations - external	$	1,405		$	(1,340	)	$	(1,194	)	$	2,346		$	(3,234	)	$	(2,017	)

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



Nine Months Ended September 30, (in thousands)	Partnership Timber			Funds Timber			Timberland Investment Management			Real Estate			Other			Consolidated
2019
Revenue - internal	$	35,676		$	31,893		$	4,235		$	14,359		$	—		$	86,163
Eliminations	(597		)	—			(4,235		)	(366		)	—			(5,198		)
Revenue - external	35,079			31,893			—			13,993			—			80,965

Cost of sales	(17,031		)	(31,728		)	—			(9,877		)	—			(58,636		)

Operating, general and administrative expenses - internal	(4,607		)	(8,268		)	(3,798		)	(3,455		)	(6,851		)	(26,979		)
Eliminations	729			4,080			207			105			77			5,198
Operating, general and administrative expenses - external	(3,878		)	(4,188		)	(3,591		)	(3,350		)	(6,774		)	(21,781		)
Income (loss) from operations - internal	14,038			(8,103		)	437			1,027			(6,851		)	548
Eliminations	132			4,080			(4,028		)	(261		)	77			—
Income (loss) from operations - external	$	14,170		$	(4,023	)	$	(3,591	)	$	766		$	(6,774	)	$	548

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

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

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)	2019			2018			2019			2018
Net and comprehensive income attributable to Pope Resources’ unitholders	$	(579	)	$	2,644		$	4,937		$	8,562
Less:
Non-forfeitable distributions paid to unvested restricted unitholders	(38		)	(27		)	(114		)	(53		)
Preferred share dividends - ORM Timber Funds	(12		)	(8		)	(35		)	(23		)
Net and comprehensive income for calculation of earnings per unit	$	(629	)	$	2,609		$	4,788		$	8,486

Basic and diluted weighted average units outstanding	4,317			4,316			4,322			4,319

Basic and diluted net earnings per unit	$	(0.15	)	$	0.60		$	1.11		$	1.96

Commitments and Contingencies Disclosure (Tables)

9 Months Ended

Sep. 30, 2019

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, 2017	$	12,770	$	—	$	(7,791	)	$	4,979
Year ended December 31, 2018	4,979		5,600		(1,496		)	9,083
Quarter ended March 31, 2019	9,083		—		(158		)	8,925
Quarter ended June 30, 2019	8,925		—		(203		)	8,722
Quarter ended September 30, 2019	8,722		—		(120		)	8,602

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset	$ 179
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset		$ 294
Operating lease liability		$ 294

Revenue from Contract with Customer (Narrative) (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Accounts receivable, net	$ 3,327,000	$ 4,670,000
Contract liabilities	0	0
Receivables from contracts with customers
Disaggregation of Revenue [Line Items]
Accounts receivable, net	$ 2,100,000	$ 3,000,000

Revenue from Contract with Customer (Contract Assets) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Contract With Customer, Asset And Liability [Roll Forward]
Contract assets, December 31, 2018	$ 3,829
Revenue recognized from changes in estimates of variable consideration	194
Transferred to receivables from contract assets	(1,426)
Contract assets, September 30, 2019	$ 2,620

Revenue from Contract with Customer (Log Sale and Other Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 27,948	$ 28,008	$ 80,965	$ 80,907
Partnership Timber
Disaggregation of Revenue [Line Items]
Revenue	5,708	12,239	35,079	32,947
Funds Timber
Disaggregation of Revenue [Line Items]
Revenue	9,703	13,253	31,893	40,711
Log sale revenue \| Partnership Timber
Disaggregation of Revenue [Line Items]
Revenue	5,107	11,638	33,514	31,312
Log sale revenue \| Funds Timber
Disaggregation of Revenue [Line Items]
Revenue	9,638	11,353	29,915	29,356
Timber deed sale revenue \| Funds Timber
Disaggregation of Revenue [Line Items]
Revenue	23	1,640	217	10,504
Other revenue \| Partnership Timber
Disaggregation of Revenue [Line Items]
Revenue	601	601	1,565	1,635
Other revenue \| Funds Timber
Disaggregation of Revenue [Line Items]
Revenue	$ 42	$ 260	$ 1,761	$ 851

Revenue from Contract with Customer (Real Estate Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 27,948	$ 28,008	$ 80,965	$ 80,907
Real Estate
Disaggregation of Revenue [Line Items]
Revenue	12,537	2,516	13,993	7,249
Real Estate \| Development rights (CE)
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	3,730
Real Estate \| Residential land sales
Disaggregation of Revenue [Line Items]
Revenue	12,150	1,975	12,795	2,126
Real Estate \| Unimproved land
Disaggregation of Revenue [Line Items]
Revenue	0	0	22	125
Real Estate \| Total land sales
Disaggregation of Revenue [Line Items]
Revenue	12,150	1,975	12,817	5,981
Real Estate \| Rentals and other
Disaggregation of Revenue [Line Items]
Revenue	$ 387	$ 541	$ 1,176	$ 1,268

Leases (Narrative) (Details) $ in Thousands	9 Months Ended
Leases (Narrative) (Details) $ in Thousands	Sep. 30, 2019 USD ($) renewal_option	Dec. 31, 2018 USD ($)
Leases [Abstract]
Basis spread on discount rate	1.60%
Lessor, Lease, Description [Line Items]
Building accumulated depreciation	$ 8,066	$ 8,223
Land
Lessor, Lease, Description [Line Items]
Lessor, operating lease, term	5 years
Lessor, operating lease, renewal term	5 years
Land \| Minimum
Lessor, Lease, Description [Line Items]
Lessor, operating lease, number of renewal options \| renewal_option	2
Land \| Maximum
Lessor, Lease, Description [Line Items]
Lessor, operating lease, number of renewal options \| renewal_option	5
Assets Leased to Others
Lessor, Lease, Description [Line Items]
Building cost	$ 2,100
Building accumulated depreciation	$ 1,200

Leases (Balance Sheet Classification of Operating Lease Assets and Liabilities) (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Leases [Abstract]
Right of use assets	$ 179
Lease liability - current	115
Lease liability - long-term	$ 64

Leases (Lease Cost and Other Lease Information) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 47	$ 141
Variable lease cost	3	7
Total lease cost	50	148
Cash paid for amounts included in the measurement of lease liabilities	50	148
Right-of-use asset obtained in exchange for new leases	$ 0	$ 17
Weighted-average remaining lease term in years	1 year 7 months 16 days	1 year 7 months 16 days
Weighted average discount rate	4.20%	4.20%

Leases Operating Lease Maturity (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Leases [Abstract]
2019	$ 120
2020	55
2021	10
2022	1
Unamortized discount	(7)
Total lease liability at September 30, 2019	$ 179

Leases (Lease Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases (Lease Income) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Leases [Abstract]
Operating lease income	$ 452	$ 0	$ 1,261	$ 0
Variable lease income	12	0	43	0
Total lease income	$ 464	$ 0	$ 1,304	$ 0

Leases (Operating Lease Income Maturity) (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Leases [Abstract]
2019	$ 699
2020	718
2021	662
2022	595
2023	563
Thereafter	3,785
Total	$ 7,022

Partners' Capital Notes Disclosure (Details)	Sep. 30, 2019 Partner shares	Dec. 31, 2018 shares
Equity [Abstract]
Number of general partners \| Partner	2
Number of partnership units owned by two general partners \| shares	60,000	60,000

Supplemental Balance Sheet Disclosures (Narrative) (Details) $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2019 USD ($) a	Sep. 30, 2019	Dec. 31, 2018 USD ($)
Fund Two and Three
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Operating term for Fund		10 years
Fund IV
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Operating term for Fund		15 years
South Central WA
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Total purchase price	$ 20.3
Purchase price allocated to timber and roads	17.5
Purchase price allocated to underlying land	$ 2.8
South Central WA \| Fund IV
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Acres of land acquired \| a	7,100
Total purchase price	$ 3.0
Payment for deposit			$ 1.0
Fund II \| Pope Resources And Olympic Resource Management LLC
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership interest		20.00%
Fund III \| Pope Resources And Olympic Resource Management LLC
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership interest		5.00%
Fund IV \| Pope Resources And Olympic Resource Management LLC
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership interest		15.00%

Supplemental Balance Sheet Disclosures (Partnership's Consolidated Balance Sheet included Assets and Liabilities of Funds) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets:
Cash	$ 2,909	$ 3,330
Contract assets	2,620	2,872
Total current assets	12,069	20,366
Properties and equipment, net of accumulated depreciation	479,665	478,628
Other long-term assets	7,170	9,255
Total assets	498,904	508,249
Liabilities and equity:
Current liabilities	1,238	865
Total current liabilities	36,157	9,981
Total liabilities, partners’ capital and noncontrolling interests	498,904	508,249
Funds Timber
Assets:
Cash	2,909	3,330
Contract assets	2,553	2,780
Other current assets	1,821	2,151
Total current assets	7,283	8,261
Properties and equipment, net of accumulated depreciation	364,478	360,163
Other long-term assets	0	1,962
Total assets	371,761	370,386
Liabilities and equity:
Current liabilities	3,987	3,237
Current portion of long-term debt	24,987	0
Total current liabilities	28,974	3,237
Long-term debt, net of unamortized debt issuance costs and current portion	32,343	57,313
Other long-term liabilities	0	300
Funds’ equity	310,444	309,536
Total liabilities, partners’ capital and noncontrolling interests	$ 371,761	$ 370,386

Other Assets Disclosure (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Investment in Real Estate joint venture entity	$ 5,577	$ 5,891
Advances to Real Estate joint venture entity	934	804
Deferred tax assets, net	424	541
Right of use assets	179
Contract assets	0	957
Note receivable	52	57
Deposits for acquisitions of timberland	4	1,005
Total	$ 7,170	$ 9,255

Segment Reporting Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	$ 27,948	$ 28,008	$ 80,965	$ 80,907
Cost of sales	(21,193)	(16,769)	(58,636)	(43,644)
Operating, general and administrative expenses	(8,772)	(7,067)	(21,781)	(19,425)
Environmental remediation	0	0	0	(2,900)
Income (loss) from operations	(2,017)	4,172	548	14,938
Partnership Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	5,708	12,239	35,079	32,947
Cost of sales	(3,032)	(4,976)	(17,031)	(11,996)
Operating, general and administrative expenses	(1,271)	(1,686)	(3,878)	(4,941)
Income (loss) from operations	1,405	5,577	14,170	16,010
Funds Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	9,703	13,253	31,893	40,711
Cost of sales	(9,352)	(9,932)	(31,728)	(28,754)
Operating, general and administrative expenses	(1,691)	(1,223)	(4,188)	(3,390)
Environmental remediation				0
Income (loss) from operations	(1,340)	2,098	(4,023)	8,567
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	(1,194)	(1,055)	(3,591)	(2,918)
Environmental remediation				0
Income (loss) from operations	(1,194)	(1,055)	(3,591)	(2,918)
Real Estate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	12,537	2,516	13,993	7,249
Cost of sales	(8,809)	(1,861)	(9,877)	(2,894)
Operating, general and administrative expenses	(1,382)	(1,173)	(3,350)	(3,222)
Environmental remediation				(2,900)
Income (loss) from operations	2,346	(518)	766	(1,767)
Internal
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	29,671	29,474	86,163	85,021
Operating, general and administrative expenses	(10,495)	(8,533)	(26,979)	(23,539)
Income (loss) from operations	(2,017)	4,172	548	14,938
Internal \| Partnership Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	5,915	12,373	35,676	33,313
Operating, general and administrative expenses	(1,521)	(1,729)	(4,607)	(5,076)
Income (loss) from operations	1,362	5,668	14,038	16,241
Internal \| Funds Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	9,703	13,253	31,893	40,711
Operating, general and administrative expenses	(3,030)	(2,435)	(8,268)	(6,766)
Income (loss) from operations	(2,679)	886	(8,103)	5,191
Internal \| Timberland Investment Management
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	1,393	1,212	4,235	3,376
Operating, general and administrative expenses	(1,265)	(1,206)	(3,798)	(3,337)
Income (loss) from operations	128	6	437	39
Internal \| Real Estate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	12,660	2,636	14,359	7,621
Operating, general and administrative expenses	(1,420)	(1,209)	(3,455)	(3,327)
Income (loss) from operations	2,431	(434)	1,027	(1,500)
Eliminations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	(1,723)	(1,466)	(5,198)	(4,114)
Operating, general and administrative expenses	1,723	1,466	5,198	4,114
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	(207)	(134)	(597)	(366)
Operating, general and administrative expenses	250	43	729	135
Income (loss) from operations	43	(91)	132	(231)
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	1,339	1,212	4,080	3,376
Income (loss) from operations	1,339	1,212	4,080	3,376
Eliminations \| Timberland Investment Management
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	(1,393)	(1,212)	(4,235)	(3,376)
Operating, general and administrative expenses	71	151	207	419
Income (loss) from operations	(1,322)	(1,061)	(4,028)	(2,957)
Eliminations \| Real Estate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	(123)	(120)	(366)	(372)
Operating, general and administrative expenses	38	36	105	105
Income (loss) from operations	(85)	(84)	(261)	(267)
Corporate, Non-Segment, Before Intersegment Eliminations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	0	0	0	0
Operating, general and administrative expenses	(3,259)	(1,954)	(6,851)	(5,033)
Income (loss) from operations	(3,259)	(1,954)	(6,851)	(5,033)
Corporate, Non-Segment, Intersegment Eliminations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	0	0	0	0
Operating, general and administrative expenses	25	24	77	79
Income (loss) from operations	25	24	77	79
Corporate, Non-Segment
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	(3,234)	(1,930)	(6,774)	(4,954)
Environmental remediation				0
Income (loss) from operations	$ (3,234)	(1,930)	(6,774)	(4,954)
Costs Incurred By Segments \| Partnership Timber
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating, general and administrative expenses		123		$ 366
Costs Incurred By Segments \| Timberland Investment Management
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating, general and administrative expenses		$ (123)	$ (366)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income attributable to Pope Resources' unitholders	$ (579)	$ 2,644	$ 4,937	$ 8,562
Comprehensive income attributable to Pope Resources' unitholders	(579)	2,644	4,937	8,562
Less:
Non-forfeitable distributions paid to unvested restricted unitholders	(38)	(27)	(114)	(53)
Preferred share dividends - ORM Timber Funds	(12)	(8)	(35)	(23)
Net and comprehensive income for calculation of earnings per unit	$ (629)	$ 2,609	$ 4,788	$ 8,486
Basic and diluted weighted average units outstanding (in units)	4,317	4,316	4,322	4,319
Basic and diluted net earnings per unit (in dollars per unit)	$ (0.15)	$ 0.60	$ 1.11	$ 1.96

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Disclosure of Compensation Related Costs, Share Based Payments (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation units, granted in period (in units)				1,263
Restricted Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation units, granted in period (in units)		11,504
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	$ 196		$ 202	$ 986	$ 924
Restricted Units \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation units, granted in period (in units)		3,600

Cash Flow, Supplemental Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Interest paid, net of amounts capitalized	$ 3,900	$ 3,200
Income taxes paid	$ 82	$ 660

Fair Value Disclosures (Details) - Fixed-Rate Debt - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt outstanding carrying value	$ 125.4	$ 125.4
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt outstanding fair value	$ 134.4	$ 126.3

Commitments and Contingencies Disclosure (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Site Contingency [Line Items]
Accrual for estimated environmental remediation costs	$ 8,602	$ 8,722	$ 8,925	$ 9,083	$ 4,979	$ 12,770
Environmental liability, next 12 months	1,100
Environmental liability thereafter	$ 7,500
Remediation activity monitoring period	15 years
Minimum
Site Contingency [Line Items]
Remediation period	2 years
Maximum
Site Contingency [Line Items]
Remediation period	3 years

Commitments and Contingencies Disclosure (Changes in Environmental Liability) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at Beginning of the Period	$ 8,722	$ 8,925	$ 9,083	$ 4,979	$ 12,770
Additions to Accrual	0	0	0	5,600	0
Expenditures for Remediation	(120)	(203)	(158)	(1,496)	(7,791)
Balance at Period-end	$ 8,602	$ 8,722	$ 8,925	$ 9,083	$ 4,979

Debt (Details) - Consolidated Entity Excluding Variable Interest Entities (VIE) - Line of Credit $ in Thousands	1 Months Ended
	Apr. 30, 2019 USD ($)
Credit Agreement Due September 2019
Debt Instrument [Line Items]
Debt outstanding carrying value	$ 9,800
Prepayment fee paid	61
Credit Agreement Due April 2031
Debt Instrument [Line Items]
Debt outstanding carrying value	9,800
Credit Agreement, Tranche 1, Due April 2027
Debt Instrument [Line Items]
Debt outstanding carrying value	$ 3,000
Interest rate	4.35%
Credit Agreement, Tranche 2, Due April 2029
Debt Instrument [Line Items]
Debt outstanding carrying value	$ 3,000
Interest rate	4.51%
Credit Agreement, Tranche 3, Due April 2031
Debt Instrument [Line Items]
Debt outstanding carrying value	$ 3,800
Interest rate	4.60%