XML 56 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1
Segment and Geographical Information (Tables)
12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information Segment information for each of the three years ended December 31, 2018 follows:
 
Sales by Product Line
 
2018
 
2017
 
2016
Southern Timber

$169,995

 

$144,510

 

$151,192

Pacific Northwest Timber
109,832

 
91,877

 
77,802

New Zealand Timber
249,014

 
223,299

 
176,041

Real Estate
 
 
 
 
 
Improved Development
8,393

 
6,348

 
1,740

Unimproved Development
8,621

 
16,405

 
5,540

Rural
22,689

 
18,632

 
18,672

Non-Strategic / Timberlands
98,872

 
70,590

 
67,981

Large Dispositions

 
95,351

 
207,265

Total Real Estate
138,575

 
207,326

 
301,198

Trading
148,814

 
152,584

 
109,682

Intersegment eliminations
(92
)
 

 

Total Sales

$816,138

 

$819,596

 

$815,915


 
Operating Income/(Loss)
 
2018
 
2017
 
2016
Southern Timber

$44,245

 

$42,254

 

$43,098

Pacific Northwest Timber
8,137

 
1,127

 
(3,992
)
New Zealand Timber
62,754

 
57,567

 
33,049

Real Estate (a)
76,240

 
130,856

 
202,402

Trading
953

 
4,578

 
2,002

Corporate and other
(22,261
)
 
(20,891
)
 
(20,782
)
Total Operating Income
170,068

 
215,491

 
255,777

Unallocated interest expense and other
(27,502
)
 
(32,231
)
 
(32,943
)
Total Income before Income Taxes

$142,566

 

$183,260

 

$222,834

 
 
 
 
 

(a)
The years 2017 and 2016 include Large Dispositions of $67.0 million and $143.9 million, respectively.
 
Gross Capital Expenditures
 
2018
 
2017
 
2016
Capital Expenditures (a)
 
 
 
 
 
Southern Timber

$35,388

 

$34,476

 

$33,487

Pacific Northwest Timber
9,311

 
10,254

 
8,036

New Zealand Timber
17,318

 
17,046

 
16,095

Real Estate
284

 
1,348

 
315

Corporate and other
24

 
2,221

 
790

Total capital expenditures

$62,325

 

$65,345

 

$58,723

 
 
 
 
 
 
Timberland Acquisitions
 
 
 
 
 
Southern Timber

$45,943

 

$220,051

 

$103,947

Pacific Northwest Timber

 
1,483

 
262,534

New Zealand Timber
11,665

 
21,376

 

Total timberland acquisitions

$57,608

 

$242,910

 

$366,481

 
 
 
 
 
 
Total Gross Capital Expenditures

$119,933

 

$308,255

 

$425,204

 
 
 
 
 

(a)
Excludes timberland acquisitions presented separately in addition to spending on the Rayonier office building of $6.1 million and $6.3 million in the years 2017 and 2016, respectively, and real estate development investments of $9.5 million, $15.8 million and $8.7 million in the years 2018, 2017 and 2016, respectively.
 
Depreciation,
Depletion and Amortization
 
2018
 
2017
 
2016
Southern Timber

$58,609

 

$49,357

 

$49,747

Pacific Northwest Timber
32,779

 
32,008

 
25,246

New Zealand Timber
28,007

 
27,499

 
23,447

Real Estate (a)
23,566

 
36,343

 
52,304

Corporate and other
1,160

 
794

 
402

Total

$144,121

 

$146,001

 

$151,146

 
 
 
 
 
The years 2017 and 2016 include Large Dispositions of $18.4 million and $36.1 million, respectively.
 
Non-Cash Cost of Land and Improved Development
 
2018
 
2017
 
2016
Real Estate (a)
23,553

 
23,498

 
33,862

 
 
 
 
 
(a)    The years 2017 and 2016 include Large Dispositions of $9.8 million and $22.2 million, respectively.
 
Geographical Operating Information
 
Sales
 
Operating Income
 
Identifiable Assets
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
2018
 
2017
United States

$390,396

 

$419,402

 

$528,345

 

$83,357

 

$138,528

 

$220,703

 

$2,282,480

 

$2,331,230

New Zealand
425,742

 
400,194

 
287,570

 
86,711

 
76,963

 
35,074

 
498,186

 
527,251

Total

$816,138

 

$819,596

 

$815,915

 

$170,068

 

$215,491

 

$255,777

 

$2,780,666

 

$2,858,481


Schedule of Geographical Operating Information
 
Geographical Operating Information
 
Sales
 
Operating Income
 
Identifiable Assets
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
2018
 
2017
United States

$390,396

 

$419,402

 

$528,345

 

$83,357

 

$138,528

 

$220,703

 

$2,282,480

 

$2,331,230

New Zealand
425,742

 
400,194

 
287,570

 
86,711

 
76,963

 
35,074

 
498,186

 
527,251

Total

$816,138

 

$819,596

 

$815,915

 

$170,068

 

$215,491

 

$255,777

 

$2,780,666

 

$2,858,481