Inventory (Notes)

12 Months Ended

Dec. 31, 2011


10.	INVENTORY

As of December 31, 2011 and 2010, Rayonier’s inventory included the following:



	2011		2010
Finished goods (a)	$	96,261	$	84,013
Work in progress	5,544		6,041
Raw materials	18,295		17,517
Manufacturing and maintenance supplies	1,898		2,464
Total inventory	$	121,998	$	110,035


(a)	Includes $8.3 million and $2.9 million of HBU real estate held for sale at December 31, 2011 and 2010, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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