XML 161 R95.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Common Share Schedule of Antidilutive Shares Excluded from the Computation of Diluted Earnings Per Share (Details)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Total 2,302,322 3,113,568 2,057,548
Stock options, performance and restricted shares [Member]
     
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Total 337,145 224,918 161,786
Assumed conversion of exchangeable note hedges [Member]
     
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Total 1,965,177 [1] 2,888,650 [1] 1,895,762 [1]
[1] The Senior Exchangeable Notes due 2012 (the “2012 Notes”) matured in October 2012 and $41.5 million of the Senior Exchangeable Notes due 2015 (the “2015 Notes”) were redeemed by the noteholders in September and October 2013; however, no additional shares were issued due to offsetting exchangeable note hedges. Similarly, Rayonier will not issue additional shares upon future exchange or maturity of the remaining 2015 Notes due to offsetting hedges. ASC 260, Earnings Per Share requires the assumed conversion of the Notes to be included in dilutive shares if the average stock price for the period exceeds the strike prices, while the assumed conversion of the hedges is excluded since they are anti-dilutive. As such, the dilutive effect of the assumed conversion of the 2012 Notes was included for the year ended December 31, 2012. The full dilutive effect of the 2015 Notes was included for the year ended December 31, 2012, while only a proportional amount based on the length of time the $41.5 million balance was outstanding before the exchange was included for the year ended December 31, 2013.