Potlatch Corp, formerly known as Potlatch Holdings, Inc., was incorporated in Delaware in September 2005. The Company is a real estate investment trust (REIT) with approximately 1.4 million acres of timberlands in Arkansas, Idaho and Minnesota. It derives revenues from investments in real estate, including the sale of standing timber. It operates a real estate sales and development business and five wood products manufacturing facilities that produce lumber and plywood. Its businesses are organized into three operating segments Resource, Wood Products, and Real Estate. Its Resource segment activities include planting and harvesting trees and building and maintaining roads. The Resource segment also generates revenues from non-timber resources such as hunting leases, recreation permits and leases, mineral rights leases, biomass production, carbon sequestration and other leasing opportunities. Its Wood Products segment manufactures and markets lumber and plywood. The business of its Real Estate segment consists primarily of the sale of land holdings deemed non-strategic or identified as having higher and better use alternatives. The Real Estate segment engages in real estate sales, subdivision and development activities through Potlatch TRS. All of its timberlands, wood products manufacturing facilities and other real estate and assets are located within the continental United States. The Company is subject to extensive federal and state environmental regulation of our wood products manufacturing facilities and timberlands, particularly with respect to air emissions, waste water discharges, solid and hazardous waste management, site remediation, forestry operations, and threatened and endangered species.