XML 20 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
Total cash and cash equivalents $ 314,308 $ 84,507
Accounts receivable, less allowance for doubtful accounts of $70 and $25 51,819 49,082
Inventory 29,789 10,594
Prepaid expenses 20,040 16,168
Assets held for sale 111,282 3,449
Other current assets 3,716 6,765
Total current assets 530,954 170,565
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 3,135,519 3,262,126
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS 103,564 108,518
PROPERTY, PLANT AND EQUIPMENT    
Land 6,569 6,548
Buildings 31,047 31,024
Machinery and equipment 4,396 4,615
Construction in progress 521 452
Total property, plant and equipment, gross 42,533 42,639
Less — accumulated depreciation (13,449) (12,238)
Total property, plant and equipment, net 29,084 30,401
RESTRICTED CASH 702 2,975
RIGHT-OF-USE ASSETS 109,221 108,992
OTHER ASSETS 50,225 45,156
TOTAL ASSETS 3,959,269 3,728,733
CURRENT LIABILITIES    
Accounts payable 29,226 24,790
Accrued taxes 14,564 7,347
Accrued payroll and benefits 8,878 12,327
Accrued interest 7,081 6,325
Deferred revenue 23,259 11,112
Other current liabilities 27,355 29,234
Total current liabilities 310,193 91,135
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,252,643  
PENSION AND OTHER POSTRETIREMENT BENEFITS 22,568 23,344
LONG-TERM LEASE LIABILITY 100,860 100,251
OTHER NON-CURRENT LIABILITIES 122,017 160,722
COMMITMENTS AND CONTINGENCIES
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 4,428,900 and 4,428,900 Common Units outstanding, respectively 153,505 130,121
SHAREHOLDERS’ EQUITY    
Common stock 1,231,224 1,101,675
Retained earnings 411,531 446,267
Accumulated other comprehensive loss (33,407) (73,885)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,609,348 1,474,057
Noncontrolling interests in consolidated affiliates 388,135 388,588
TOTAL SHAREHOLDERS’ EQUITY 1,997,483 1,862,645
CAPITAL    
Accumulated other comprehensive loss (33,407) (73,885)
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 3,959,269 3,728,733
Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 309,839 80,454
CURRENT LIABILITIES    
Less: Current maturities of long-term debt, excluding Timber Funds 199,830 0
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,192,888 1,300,336
Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 4,469 4,053
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 59,755 60,179
Rayonier Limited Partnership    
CURRENT ASSETS    
Total cash and cash equivalents 314,308 84,507
Accounts receivable, less allowance for doubtful accounts of $70 and $25 51,819 49,082
Inventory 29,789 10,594
Prepaid expenses 20,040 16,168
Assets held for sale 111,282 3,449
Other current assets 3,716 6,765
Total current assets 530,954 170,565
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 3,135,519 3,262,126
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS 103,564 108,518
PROPERTY, PLANT AND EQUIPMENT    
Land 6,569 6,548
Buildings 31,047 31,024
Machinery and equipment 4,396 4,615
Construction in progress 521 452
Total property, plant and equipment, gross 42,533 42,639
Less — accumulated depreciation (13,449) (12,238)
Total property, plant and equipment, net 29,084 30,401
RESTRICTED CASH 702 2,975
RIGHT-OF-USE ASSETS 109,221 108,992
OTHER ASSETS 50,225 45,156
TOTAL ASSETS 3,959,269 3,728,733
CURRENT LIABILITIES    
Accounts payable 29,226 24,790
Accrued taxes 14,564 7,347
Accrued payroll and benefits 8,878 12,327
Accrued interest 7,081 6,325
Deferred revenue 23,259 11,112
Other current liabilities 27,355 29,234
Total current liabilities 310,193 91,135
PENSION AND OTHER POSTRETIREMENT BENEFITS 22,568 23,344
LONG-TERM LEASE LIABILITY 100,860 100,251
OTHER NON-CURRENT LIABILITIES 122,017 160,722
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 4,428,900 and 4,428,900 Common Units outstanding, respectively 153,505 130,121
SHAREHOLDERS’ EQUITY    
Accumulated other comprehensive loss (29,589) (71,345)
CAPITAL    
General partners’ capital 16,389 15,454
Limited partners’ capital 1,622,548 1,529,948
Accumulated other comprehensive loss (29,589) (71,345)
TOTAL CONTROLLING INTEREST CAPITAL 1,609,348 1,474,057
Noncontrolling interests in consolidated affiliates 388,135 388,588
TOTAL CAPITAL 1,997,483 1,862,645
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 3,959,269 3,728,733
Rayonier Limited Partnership | Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 309,839 80,454
CURRENT LIABILITIES    
Less: Current maturities of long-term debt, excluding Timber Funds 199,830 0
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,192,888 1,300,336
Rayonier Limited Partnership | Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 4,469 4,053
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS $ 59,755 $ 60,179