EARNINGS PER SHARE AND PER UNIT

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE AND PER UNIT

EARNINGS PER SHARE AND PER UNIT

The following table provides details of the calculations of basic and diluted earnings per common share of the Company:

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Earnings per common share - basic
Numerator:
Net Income	$63,420	$455	$78,452	$26,876
Less: Net income attributable to noncontrolling interests in the Operating Partnership	(1,753)	(219)	(2,094)	(219)
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	(4,461)	1,499	(8,304)	931
Net income attributable to Rayonier Inc.	$57,206	$1,735	$68,054	$27,588
Denominator:
Denominator for basic earnings per common share - weighted average shares	139,556,748	133,318,209	138,718,442	131,227,852
Basic earnings per common share attributable to Rayonier Inc.:	$0.41	$0.01	$0.49	$0.21
Earnings per common share - diluted
Numerator:
Net Income	$63,420	$455	$78,452	$26,876
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	(4,461)	1,499	(8,304)	931
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership	$58,959	$1,954	$70,148	$27,807
Denominator:
Denominator for basic earnings per common share - weighted average shares	139,556,748	133,318,209	138,718,442	131,227,852
Add: Dilutive effect of:
Stock options	12,646	—	8,348	537
Performance shares, restricted shares and restricted stock units	210,923	49,299	282,027	129,390
Noncontrolling interests in Redeemable Operating Partnership units	4,275,912	2,589,518	4,303,201	1,294,759
Denominator for diluted earnings per common share - adjusted weighted average shares	144,056,229	135,957,026	143,312,018	132,652,538
Diluted earnings per common share attributable to Rayonier Inc.:	$0.41	$0.01	$0.49	$0.21

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Anti-dilutive shares excluded from the computations of diluted earnings per common share:
Stock options, performance shares, restricted shares and restricted stock units	208,614	635,779	201,435	521,053
Total	208,614	635,779	201,435	521,053

The following table provides details of the calculations of basic and diluted earnings per unit of the Operating Partnership:

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Earnings per unit - basic
Numerator:
Net Income	$63,420	$455	$78,452	$26,876
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	(4,461)	1,499	(8,304)	931
Net income available to unitholders	$58,959	$1,954	$70,148	$27,807
Denominator:
Denominator for basic earnings per unit - weighted average units	143,832,660	135,907,727	143,021,643	132,522,611
Basic earnings per unit attributable to Rayonier, L.P.:	$0.41	$0.01	$0.49	$0.21
Earnings per unit - diluted
Numerator:
Net Income	$63,420	$455	$78,452	$26,876
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	(4,461)	1,499	(8,304)	931
Net income available to unitholders	$58,959	$1,954	$70,148	$27,807
Denominator:
Denominator for basic earnings per unit - weighted average units	143,832,660	135,907,727	143,021,643	132,522,611
Add: Dilutive effect of unit equivalents:
Stock options	12,646	—	8,348	537
Performance shares, restricted shares and restricted stock units	210,923	49,299	282,027	129,390
Denominator for diluted earnings per unit - adjusted weighted average units	144,056,229	135,957,026	143,312,018	132,652,538
Diluted earnings per unit attributable to Rayonier, L.P.:	$0.41	$0.01	$0.49	$0.21

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit:
Stock options, performance shares, restricted shares and restricted stock units	208,614	635,779	201,435	521,053
Total	208,614	635,779	201,435	521,053