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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Common Share EARNINGS PER COMMON SHARE
Basic earnings per share (“EPS”) is calculated by dividing net income attributable to Rayonier by the weighted average number of common shares outstanding during the year. Diluted EPS is calculated by dividing net income attributable to Rayonier by the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of outstanding stock options, performance shares, restricted shares and convertible debt.
The following table provides details of the calculation of basic and diluted EPS for the three years ended December 31:
 
2018
 
2017
 
2016
Net Income

$117,330

 

$161,579

 

$217,770

Less: Net income attributable to noncontrolling interest
(15,114
)
 
(12,737
)
 
(5,798
)
Net income attributable to Rayonier Inc.

$102,216

 

$148,842

 

$211,972

 
 
 
 
 
 
Shares used for determining basic earnings per common share
129,043,627

 
127,367,608

 
122,585,200

Dilutive effect of:
 
 
 
 
 
Stock options
71,276

 
91,956

 
92,473

Performance and restricted shares
575,328

 
350,385

 
134,650

Shares used for determining diluted earnings per common share
129,690,231

 
127,809,949

 
122,812,323

 
 
 
 
 
 
Basic earnings per common share attributable to Rayonier Inc.:

$0.79

 

$1.17

 

$1.73

Diluted earnings per common share attributable to Rayonier Inc.:

$0.79

 

$1.16

 

$1.73


 
2018
 
2017
 
2016
Anti-dilutive shares excluded from computations of diluted earnings per share:
 
 
 
 
 
Stock options, performance and restricted shares
254,282

 
596,061

 
829,469