Quarterly Results for 2013 and 2012 (UNAUDITED)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results for 2013 and 2012 (UNAUDITED)

QUARTERLY RESULTS FOR 2013 and 2012 (UNAUDITED)

(Thousands of dollars, except per share amounts)

	Quarter Ended											Total Year
	March 31			June 30			Sept. 30		Dec. 31
2013
Sales	$	393,719		$	409,077		$	384,784	$	520,242		$	1,707,822
Cost of sales	266,018			297,698			287,150		395,446			1,246,312
Income from continuing operations	103,258			87,891		(b)	58,367		82,249			331,765		(b)
Income from discontinued operations	44,477			—			—		(2,444		)	42,033
Net income	147,735		(a)	87,891			58,367		79,805			373,798		(a)
Net income attributable to Rayonier Inc.	147,735		(a)	87,164		(b)	57,345		79,652			371,896		(a) (b)
Basic EPS attributable to Rayonier Inc.	1.19			0.69			0.45		0.63			2.96
Diluted EPS attributable to Rayonier Inc.	1.13			0.67			0.44		0.62			2.86
2012
Sales	336,571			348,096			386,163		412,660			1,483,490
Cost of sales	235,708			243,571			259,201		292,212			1,030,692
Income from continuing operations	52,599			66,091			79,278		73,474			271,442
Income from discontinued operations	838			2,988			1,282		2,135			7,243
Net income	53,437			69,079			80,560		75,609			278,685
Net income attributable to Rayonier Inc.	53,437			69,079			80,560		75,609			278,685
Basic EPS attributable to Rayonier Inc.	0.44			0.56			0.66		0.61			2.27
Diluted EPS attributable to Rayonier Inc.	0.42			0.54			0.62		0.59			2.17

(a) Net income and net income attributable to Rayonier Inc. included a $43 million gain on the sale of Wood Products for the quarter ended March 31, 2013.

(b) Operating income and net income attributable to Rayonier Inc., for the quarter ended June 30, 2013, included a $16 million gain related to the consolidation of the New Zealand JV.