XML 94 R83.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATING FINANCIAL STATEMENTS (Income and Comprehensive Income) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Condensed Statement of Income Captions [Line Items]            
SALES $ 184,800   $ 245,906   $ 376,346 $ 449,101
Costs and Expenses            
Cost of sales (140,454)   (184,418)   (283,705) (322,906)
Selling and general expenses (10,984)   (11,502)   (20,794) (20,504)
Other operating (expense) income, net (1,969)   1,659   (1,934) 3,029
Costs and Expenses, Total (153,407)   (194,261)   (306,433) (340,381)
OPERATING INCOME 31,393   51,645   69,913 108,720
Interest expense (7,922)   (8,102)   (15,632) (16,155)
Interest and miscellaneous income (expense), net 1,057   2,905   2,390 3,525
Equity in income from subsidiaries 0   0   0 0
INCOME BEFORE INCOME TAXES 24,528   46,448   56,671 96,090
Income tax expense (3,608)   (7,110)   (7,958) (14,047)
NET INCOME 20,920 $ 27,793 39,338 $ 42,706 48,713 82,043
Less: Net income attributable to noncontrolling interest (2,168)   (3,080)   (5,167) (5,246)
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 18,752   36,258   43,546 76,797
Foreign currency translation adjustment, net of income tax (5,604) 6,033 (29,760) 9,688 429 (20,072)
Cash flow hedges, net of income tax (19,519) (10,686) 529 16,615 (30,205) 17,143
Amortization of pension and postretirement plans, net of income tax 112 $ 112 178 $ 159 224 338
Total other comprehensive (loss) income (25,011)   (29,053)   (29,552) (2,591)
COMPREHENSIVE (LOSS) INCOME (4,091)   10,285   19,161 79,452
Less: Comprehensive (income) loss attributable to noncontrolling interest (815)   5,011   (5,366) 528
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC. (4,906)   15,296   13,795 79,980
Consolidating Adjustments            
Condensed Statement of Income Captions [Line Items]            
SALES 0   0   0 0
Costs and Expenses            
Cost of sales 0   0   0 0
Selling and general expenses 0   0   0 0
Other operating (expense) income, net 0   0   0 0
Costs and Expenses, Total 0   0   0 0
OPERATING INCOME 0   0   0 0
Interest expense 0   0   0 0
Interest and miscellaneous income (expense), net 0   0   0 0
Equity in income from subsidiaries (55,420)   (83,082)   (121,238) (172,971)
INCOME BEFORE INCOME TAXES (55,420)   (83,082)   (121,238) (172,971)
Income tax expense 0   0   0 0
NET INCOME (55,420)   (83,082)   (121,238) (172,971)
Less: Net income attributable to noncontrolling interest 0   0   0 0
NET INCOME ATTRIBUTABLE TO RAYONIER INC. (55,420)   (83,082)   (121,238) (172,971)
Foreign currency translation adjustment, net of income tax 4,305   22,856   (375) 15,252
Cash flow hedges, net of income tax 19,465   (1,716)   30,349 (18,097)
Amortization of pension and postretirement plans, net of income tax (112)   (178)   (224) (338)
Total other comprehensive (loss) income 23,658   20,962   29,750 (3,183)
COMPREHENSIVE (LOSS) INCOME (31,762)   (62,120)   (91,488) (176,154)
Less: Comprehensive (income) loss attributable to noncontrolling interest 0   0   0 0
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC. (31,762)   (62,120)   (91,488) (176,154)
Rayonier Inc. (Parent Issuer) | Reportable Legal Entities            
Condensed Statement of Income Captions [Line Items]            
SALES 0   0   0 0
Costs and Expenses            
Cost of sales 0   0   0 0
Selling and general expenses 0   0   0 0
Other operating (expense) income, net 0   0   0 (12)
Costs and Expenses, Total 0   0   0 (12)
OPERATING INCOME 0   0   0 (12)
Interest expense (3,140)   (3,139)   (6,278) (6,278)
Interest and miscellaneous income (expense), net (457)   2,734   (913) 5,362
Equity in income from subsidiaries 22,349   36,663   50,737 77,725
INCOME BEFORE INCOME TAXES 18,752   36,258   43,546 76,797
Income tax expense 0   0   0 0
NET INCOME 18,752   36,258   43,546 76,797
Less: Net income attributable to noncontrolling interest 0   0   0 0
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 18,752   36,258   43,546 76,797
Foreign currency translation adjustment, net of income tax (4,305)   (22,856)   374 (15,252)
Cash flow hedges, net of income tax (19,465)   1,716   (30,349) 18,097
Amortization of pension and postretirement plans, net of income tax 112   178   224 338
Total other comprehensive (loss) income (23,658)   (20,962)   (29,751) 3,183
COMPREHENSIVE (LOSS) INCOME (4,906)   15,296   13,795 79,980
Less: Comprehensive (income) loss attributable to noncontrolling interest 0   0   0 0
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC. (4,906)   15,296   13,795 79,980
Subsidiary Guarantors | Reportable Legal Entities            
Condensed Statement of Income Captions [Line Items]            
SALES 0   0   0 0
Costs and Expenses            
Cost of sales 0   0   0 0
Selling and general expenses (5,660)   (5,471)   (10,503) (9,859)
Other operating (expense) income, net (1,091)   (40)   (1,090) 595
Costs and Expenses, Total (6,751)   (5,511)   (11,593) (9,264)
OPERATING INCOME (6,751)   (5,511)   (11,593) (9,264)
Interest expense (4,769)   (4,900)   (9,316) (9,555)
Interest and miscellaneous income (expense), net 928   746   1,892 1,511
Equity in income from subsidiaries 33,071   46,419   70,501 95,246
INCOME BEFORE INCOME TAXES 22,479   36,754   51,484 77,938
Income tax expense (130)   (91)   (747) (213)
NET INCOME 22,349   36,663   50,737 77,725
Less: Net income attributable to noncontrolling interest 0   0   0 0
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 22,349   36,663   50,737 77,725
Foreign currency translation adjustment, net of income tax 0   341   (90) 452
Cash flow hedges, net of income tax (19,284)   5,690   (30,832) 21,287
Amortization of pension and postretirement plans, net of income tax 112   178   224 338
Total other comprehensive (loss) income (19,172)   6,209   (30,698) 22,077
COMPREHENSIVE (LOSS) INCOME 3,177   42,872   20,039 99,802
Less: Comprehensive (income) loss attributable to noncontrolling interest 0   0   0 0
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC. 3,177   42,872   20,039 99,802
Non- guarantors | Reportable Legal Entities            
Condensed Statement of Income Captions [Line Items]            
SALES 184,800   245,906   376,346 449,101
Costs and Expenses            
Cost of sales (140,454)   (184,418)   (283,705) (322,906)
Selling and general expenses (5,324)   (6,031)   (10,291) (10,645)
Other operating (expense) income, net (878)   1,699   (844) 2,446
Costs and Expenses, Total (146,656)   (188,750)   (294,840) (331,105)
OPERATING INCOME 38,144   57,156   81,506 117,996
Interest expense (13)   (63)   (38) (322)
Interest and miscellaneous income (expense), net 586   (575)   1,411 (3,348)
Equity in income from subsidiaries 0   0   0 0
INCOME BEFORE INCOME TAXES 38,717   56,518   82,879 114,326
Income tax expense (3,478)   (7,019)   (7,211) (13,834)
NET INCOME 35,239   49,499   75,668 100,492
Less: Net income attributable to noncontrolling interest (2,168)   (3,080)   (5,167) (5,246)
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 33,071   46,419   70,501 95,246
Foreign currency translation adjustment, net of income tax (5,604)   (30,101)   520 (20,524)
Cash flow hedges, net of income tax (235)   (5,161)   627 (4,144)
Amortization of pension and postretirement plans, net of income tax 0   0   0 0
Total other comprehensive (loss) income (5,839)   (35,262)   1,147 (24,668)
COMPREHENSIVE (LOSS) INCOME 29,400   14,237   76,815 75,824
Less: Comprehensive (income) loss attributable to noncontrolling interest (815)   5,011   (5,366) 528
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC. $ 28,585   $ 19,248   $ 71,449 $ 76,352