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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
SALES $ 198,875 $ 156,417 $ 653,635 $ 532,764
Costs and Expenses        
Cost of sales (180,944) (134,463) (545,333) (418,169)
Selling and general expenses (14,498) (10,102) (37,036) (30,896)
Other operating expense, net (Note 19) (1,653) (865) (19,247) (2,799)
Costs and expenses (197,095) (145,430) (601,616) (451,864)
OPERATING INCOME 1,780 10,987 52,019 80,900
Interest expense (10,421) (7,996) (28,457) (23,629)
Interest and other miscellaneous (expense) income, net (137) 788 1,232 3,178
(LOSS) INCOME BEFORE INCOME TAXES (8,778) 3,779 24,794 60,449
Income tax expense (Note 10) (720) (2,251) (7,416) (10,208)
NET (LOSS) INCOME (9,498) 1,528 17,378 50,241
Less: Net loss (income) attributable to noncontrolling interest in the Operating Partnership 25 0 (195) 0
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates 8,715 (1,961) 9,647 (7,129)
NET (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC / RAYONIER, L.P. COMMON UNITHOLDERS (758) (433) 26,830 43,112
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0, and $0 12,476 (28,524) (8,290) (28,095)
Cash flow hedges, net of income tax effect of $645, $888, $530 and $644 7,861 (12,424) (82,890) (42,629)
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0 217 112 652 337
Total other comprehensive income (loss) 20,554 (40,836) (90,528) (70,387)
COMPREHENSIVE INCOME (LOSS) 11,056 (39,308) (73,150) (20,146)
Less: Comprehensive income attributable to noncontrolling interests in the Operating Partnership (508) 0 (1,184) 0
Less: Comprehensive loss (income) attributable to noncontrolling interests in consolidated affiliates 5,017 5,169 10,761 (197)
Comprehensive INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHLDERS $ 15,565 $ (34,139) $ (63,573) $ (20,343)
EARNINGS PER COMMON SHARE / UNIT (NOTE 14)        
Basic (loss) earnings per share attributable to Rayonier Inc. (in dollars per share) $ (0.01) $ 0 $ 0.20 $ 0.33
Diluted (loss) earnings per share attributable to Rayonier Inc. (in dollars per share) $ (0.01) $ 0 $ 0.20 $ 0.33
Rayonier Limited Partnership        
SALES $ 198,875 $ 156,417 $ 653,635 $ 532,764
Costs and Expenses        
Cost of sales (180,944) (134,463) (545,333) (418,169)
Selling and general expenses (14,498) (10,102) (37,036) (30,896)
Other operating expense, net (Note 19) (1,653) (865) (19,247) (2,799)
Costs and expenses (197,095) (145,430) (601,616) (451,864)
OPERATING INCOME 1,780 10,987 52,019 80,900
Interest expense (10,421) (7,996) (28,457) (23,629)
Interest and other miscellaneous (expense) income, net (137) 788 1,232 3,178
(LOSS) INCOME BEFORE INCOME TAXES (8,778) 3,779 24,794 60,449
Income tax expense (Note 10) (720) (2,251) (7,416) (10,208)
NET (LOSS) INCOME (9,498) 1,528 17,378 50,241
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates 8,715 (1,961) 9,647 (7,129)
NET (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC / RAYONIER, L.P. COMMON UNITHOLDERS (783) (433) 27,025 43,112
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0, and $0 12,476 (28,524) (8,290) (28,095)
Cash flow hedges, net of income tax effect of $645, $888, $530 and $644 7,861 (12,424) (82,890) (42,629)
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0 217 112 652 337
Total other comprehensive income (loss) 20,554 (40,836) (90,528) (70,387)
COMPREHENSIVE INCOME (LOSS) 11,056 (39,308) (73,150) (20,146)
Less: Comprehensive loss (income) attributable to noncontrolling interests in consolidated affiliates 5,017 5,169 10,761 (197)
Comprehensive INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHLDERS $ 16,073 $ (34,139) $ (62,389) $ (20,343)
(LOSS) EARNINGS PER COMMON UNIT (NOTE 14)        
Basic (loss) earnings per unit attributable to Rayonier, L.P. (in dollars per unit) $ (0.01) $ 0 $ 0.20 $ 0.33
Diluted (loss) earnings per unit attributable to Rayonier, L.P. (in dollars per unit) $ (0.01) $ 0 $ 0.20 $ 0.33