XML 20 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Statement of Comprehensive Income [Abstract]      
SALES $ 544,874 $ 603,521 $ 659,718
Costs and Expenses      
Cost of sales 441,099 483,860 530,772
Selling and general expenses 45,750 47,883 55,433
Other operating income, net (Note 17) (19,759) (26,511) (18,487)
Costs and Expenses, Total 467,090 505,232 567,718
Equity in income of New Zealand joint venture 0 0 562
OPERATING INCOME BEFORE GAIN RELATED TO CONSOLIDATION OF NEW ZEALAND JOINT VENTURE 77,784 98,289 92,562
Gain related to consolidation of New Zealand joint venture (Note 7) 0 0 16,098
OPERATING INCOME 77,784 98,289 108,660
Interest expense (31,699) (44,248) (40,941)
Interest and miscellaneous (expense) income, net (3,003) (9,199) 2,439
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 43,082 44,842 70,158
Income tax benefit 859 9,601 35,685
INCOME FROM CONTINUING OPERATIONS 43,941 54,443 105,843
Income from discontinued operations, net of income tax expense of $0, $20,578 and $106,397   43,403 267,955
NET INCOME 43,941 97,846 373,798
Less: Net (loss) income attributable to noncontrolling interest (2,224) (1,491) 1,902
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 46,165 99,337 371,896
OTHER COMPREHENSIVE (LOSS) INCOME      
Foreign currency translation adjustment, net of income tax expense (benefit) of $1,066, ($78) and $0 (32,451) (15,847) (5,710)
Cash flow hedges, net of income tax (expense) benefit of ($91), $861 and ($248) (9,961) (1,855) 3,629
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax effect of $470, $35,852 and $27,786 2,933 54,046 61,869
Total other comprehensive income (39,479) 36,344 59,788
COMPREHENSIVE INCOME 4,462 134,190 433,586
Less: Comprehensive loss attributable to noncontrolling interest (13,027) (6,462) (1,550)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $ 17,489 $ 140,652 $ 435,136
BASIC EARNINGS PER SHARE ATTRIBUTABLE TO RAYONIER INC.      
Continuing Operations (in dollars per share) $ 0.37 $ 0.44 $ 0.83
Discontinued Operations (in dollars per share) 0.00 0.34 2.13
Net Income (in dollars per share) 0.37 0.78 2.96
DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO RAYONIER INC.      
Continuing Operations (in dollars per share) 0.37 0.43 0.80
Discontinued Operations (in dollars per share) 0.00 0.33 2.06
Net income (in dollars per share) $ 0.37 $ 0.76 $ 2.86