XML 20 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Total cash and cash equivalents $ 78,151 $ 68,735
Accounts receivable, less allowance for doubtful accounts of $41 and $24 45,439 27,127
Inventory (Note 21) 13,767 14,518
Prepaid expenses 19,342 14,728
Assets held for sale 9,727 0
Other current assets 2,388 867
Total current assets 168,814 125,975
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 3,284,695 2,482,047
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 8) 108,286 81,791
PROPERTY, PLANT AND EQUIPMENT    
Land 5,566 4,131
Buildings 29,221 23,095
Machinery and equipment 4,686 4,339
Construction in progress 404 348
Total property, plant and equipment, gross 39,877 31,913
Less — accumulated depreciation (11,087) (9,662)
Total property, plant and equipment, net 28,790 22,251
RESTRICTED CASH (NOTE 22) 475 1,233
RIGHT-OF-USE ASSETS (NOTE 4) 100,297 99,942
OTHER ASSETS 35,642 47,757
TOTAL ASSETS 3,726,999 2,860,996
CURRENT LIABILITIES    
Accounts payable 24,645 18,160
Accrued taxes 8,067 3,032
Accrued payroll and benefits 10,028 8,869
Accrued interest 9,203 5,205
Deferred revenue 15,673 11,440
Other current liabilities 24,450 22,480
Total current liabilities 92,066 151,186
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,378,596  
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 17) 21,765 25,311
LONG-TERM LEASE LIABILITY (NOTE 4) 91,122 90,481
OTHER NON-CURRENT LIABILITIES 174,772 83,247
COMMITMENTS AND CONTINGENCIES (NOTES 9 and 11)
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS (NOTE 5) 4,446,153 and 0 Common Units outstanding, respectively 117,530 0
SHAREHOLDERS’ EQUITY    
Common stock 1,065,188 888,177
Retained earnings 485,636 583,006
Accumulated other comprehensive loss (Note 23) (121,605) (31,202)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,429,219 1,439,981
Noncontrolling interests in consolidated affiliates (Note 5) 421,929 97,661
TOTAL SHAREHOLDERS’ EQUITY 1,851,148 1,537,642
CAPITAL    
Accumulated other comprehensive loss (Note 23) (121,605) (31,202)
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 3,726,999 2,860,996
Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 75,178 68,735
CURRENT LIABILITIES    
Current maturities of long-term debt, excluding Timber Funds (Note 7) 0 82,000
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,318,205 973,129
Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 2,973 0
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 60,391 0
Rayonier Limited Partnership    
CURRENT ASSETS    
Total cash and cash equivalents 78,151 68,735
Accounts receivable, less allowance for doubtful accounts of $41 and $24 45,439 27,127
Inventory (Note 21) 13,767 14,518
Prepaid expenses 19,342 14,728
Assets held for sale 9,727 0
Other current assets 2,388 867
Total current assets 168,814 125,975
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 3,284,695 2,482,047
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 8) 108,286 81,791
PROPERTY, PLANT AND EQUIPMENT    
Land 5,566 4,131
Buildings 29,221 23,095
Machinery and equipment 4,686 4,339
Construction in progress 404 348
Total property, plant and equipment, gross 39,877 31,913
Less — accumulated depreciation (11,087) (9,662)
Total property, plant and equipment, net 28,790 22,251
RESTRICTED CASH (NOTE 22) 475 1,233
RIGHT-OF-USE ASSETS (NOTE 4) 100,297 99,942
OTHER ASSETS 35,642 47,757
TOTAL ASSETS 3,726,999 2,860,996
CURRENT LIABILITIES    
Accounts payable 24,645 18,160
Accrued taxes 8,067 3,032
Accrued payroll and benefits 10,028 8,869
Accrued interest 9,203 5,205
Deferred revenue 15,673 11,440
Other current liabilities 24,450 22,480
Total current liabilities 92,066 151,186
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 17) 21,765 25,311
LONG-TERM LEASE LIABILITY (NOTE 4) 91,122 90,481
OTHER NON-CURRENT LIABILITIES 174,772 83,247
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS (NOTE 5) 4,446,153 and 0 Common Units outstanding, respectively 117,530 0
SHAREHOLDERS’ EQUITY    
Accumulated other comprehensive loss (Note 23) (120,616) (31,202)
CAPITAL    
General partners’ capital 15,498 14,712
Limited partners’ capital 1,534,337 1,456,471
Accumulated other comprehensive loss (Note 23) (120,616) (31,202)
TOTAL CONTROLLING INTEREST CAPITAL 1,429,219 1,439,981
Noncontrolling interests in consolidated affiliates (Note 5) 421,929 97,661
TOTAL CAPITAL 1,851,148 1,537,642
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 3,726,999 2,860,996
Rayonier Limited Partnership | Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 75,178 68,735
CURRENT LIABILITIES    
Current maturities of long-term debt, excluding Timber Funds (Note 7) 0 82,000
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,318,205 973,129
Rayonier Limited Partnership | Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 2,973 0
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS $ 60,391 $ 0