First quarter 2012 real estate segment earnings include an $11.7 million gain associated with the sale of our 25% interest in the Palisades West venture.
- Sold 105,700 tons of fiber
- Recreational leasing activity remains strong, almost 99% of available land leased
Segment Financial Results:
|($ in millions)||2Q 2012||2Q 2011||1Q 2012|
Second quarter 2012 fiber resources segment earnings declined slightly compared with second quarter 2011 principally due to lower recreational lease revenues resulting from the sale of over 74,000 acres of timberland in 2011. Recreational leasing activity remained strong during second quarter, with almost 99% of available land leased for recreation. Second quarter 2011 fiber resources segment results include a $0.2 million gain from termination of a timber lease.