XML 51 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Statement of Comprehensive Income [Abstract]      
SALES $ 140,305us-gaap_SalesRevenueNet $ 143,187us-gaap_SalesRevenueNet  
Costs and Expenses      
Cost of sales 107,234us-gaap_CostOfGoodsSold 115,900us-gaap_CostOfGoodsSold  
Selling and general expenses 10,898us-gaap_SellingGeneralAndAdministrativeExpense 13,237us-gaap_SellingGeneralAndAdministrativeExpense  
Other operating income, net (Note 17) (5,574)us-gaap_OtherOperatingIncomeExpenseNet (375)us-gaap_OtherOperatingIncomeExpenseNet  
Costs and Expenses, Total 112,558us-gaap_CostsAndExpenses 128,762us-gaap_CostsAndExpenses  
OPERATING INCOME 27,747us-gaap_OperatingIncomeLoss 14,425us-gaap_OperatingIncomeLoss  
Interest expense (8,544)us-gaap_InterestExpense (10,675)us-gaap_InterestExpense  
Interest income and miscellaneous expense, net (1,494)us-gaap_OtherNonoperatingIncomeExpense (1,011)us-gaap_OtherNonoperatingIncomeExpense  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 17,709us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 2,739us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest  
Income tax benefit 471us-gaap_IncomeTaxExpenseBenefit 7,596us-gaap_IncomeTaxExpenseBenefit  
INCOME FROM CONTINUING OPERATIONS 18,180us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 10,335us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest  
DISCONTINUED OPERATIONS, NET (Note 2)      
Income from discontinued operations, net of income tax expense of $0 and $15,308 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 31,008us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax  
NET INCOME 18,180us-gaap_ProfitLoss 41,343us-gaap_ProfitLoss 97,846us-gaap_ProfitLoss
Less: Net income (loss) attributable to noncontrolling interest 433us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (83)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest  
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 17,747us-gaap_NetIncomeLoss 41,426us-gaap_NetIncomeLoss  
OTHER COMPREHENSIVE (LOSS) INCOME      
Foreign currency translation adjustment, net of income tax benefit of $343 and $0 (14,323)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax 17,803us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax (15,847)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
New Zealand joint venture cash flow hedges, net of income tax benefit (expense) of $436 and ($501) (946)us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax 1,711us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax (1,855)us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
Amortization of pension and postretirement plans, net of income tax expense of $158 and $931 781us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax 2,097us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax  
Total other comprehensive (loss) income (14,488)us-gaap_OtherComprehensiveIncomeLossNetOfTax 21,611us-gaap_OtherComprehensiveIncomeLossNetOfTax  
COMPREHENSIVE INCOME 3,692us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest 62,954us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest  
Less: Comprehensive (loss) income attributable to noncontrolling interest (3,791)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest 5,425us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest  
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $ 7,483us-gaap_ComprehensiveIncomeNetOfTax $ 57,529us-gaap_ComprehensiveIncomeNetOfTax  
BASIC EARNINGS PER SHARE ATTRIBUTABLE TO RAYONIER INC.      
Continuing Operations (in dollars per share) $ 0.14us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.08us-gaap_IncomeLossFromContinuingOperationsPerBasicShare  
Discontinued Operations (in dollars per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.25us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare  
Net Income, Basic (in dollars per share) $ 0.14us-gaap_EarningsPerShareBasic $ 0.33us-gaap_EarningsPerShareBasic  
DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO RAYONIER INC.      
Continuing Operations (in dollars per share) $ 0.14us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.08us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare  
Discontinued Operations, (in dollars per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.24us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare  
Net Income, Diluted (in dollars per share) $ 0.14us-gaap_EarningsPerShareDiluted $ 0.32us-gaap_EarningsPerShareDiluted  
Dividends per share $ 0.25us-gaap_CommonStockDividendsPerShareDeclared $ 0.49us-gaap_CommonStockDividendsPerShareDeclared $ 2.03us-gaap_CommonStockDividendsPerShareDeclared