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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
SALES $ 364,726 $ 198,875 $ 847,604 $ 653,635
Costs and Expenses        
Cost of sales (233,308) (180,944) (578,937) (545,333)
Selling and general expenses (13,174) (14,498) (41,899) (37,036)
Other operating income (expense), net 5,070 (1,653) 9,474 (19,247)
Costs and expenses (241,412) (197,095) (611,362) (601,616)
OPERATING INCOME 123,314 1,780 236,242 52,019
Interest expense (11,265) (10,421) (34,292) (28,457)
Interest and other miscellaneous income (expense), net 1,274 (137) 127 1,232
INCOME (LOSS) BEFORE INCOME TAXES 113,323 (8,778) 202,077 24,794
Income tax expense (2,811) (720) (13,114) (7,416)
NET INCOME (LOSS) 110,512 (9,498) 188,963 17,378
Less: Net (income) loss attributable to noncontrolling interests in the Operating Partnership (2,210) 25 (4,303) (195)
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647
NET INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC. 75,831 (758) 143,885 26,830
OTHER COMPREHENSIVE (LOSS) INCOME        
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0, and $0 (6,622) 12,476 (19,670) (8,290)
Cash flow hedges, net of income tax effect of $833, $645, $2,207 and $530 1,711 7,861 52,693 (82,890)
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0 294 217 881 652
Total other comprehensive (loss) income (4,617) 20,554 33,904 (90,528)
COMPREHENSIVE INCOME (LOSS) 105,895 11,056 222,867 (73,150)
Less: Comprehensive income attributable to noncontrolling interests in the Operating Partnership (2,118) (508) (5,490) (1,184)
Less: Comprehensive (income) loss attributable to noncontrolling interests in consolidated affiliates (31,099) 5,017 (36,168) 10,761
Comprehensive INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHLDERS $ 72,678 $ 15,565 $ 181,209 $ (63,573)
EARNINGS PER COMMON SHARE        
Basic earnings (loss) per share attributable to Rayonier Inc. (in dollars per share) $ 0.53 $ (0.01) $ 1.03 $ 0.20
Diluted earnings (loss) per share attributable to Rayonier Inc. (in dollars per share) $ 0.53 $ (0.01) $ 1.03 $ 0.20
Rayonier Limited Partnership        
SALES $ 364,726 $ 198,875 $ 847,604 $ 653,635
Costs and Expenses        
Cost of sales (233,308) (180,944) (578,937) (545,333)
Selling and general expenses (13,174) (14,498) (41,899) (37,036)
Other operating income (expense), net 5,070 (1,653) 9,474 (19,247)
Costs and expenses (241,412) (197,095) (611,362) (601,616)
OPERATING INCOME 123,314 1,780 236,242 52,019
Interest expense (11,265) (10,421) (34,292) (28,457)
Interest and other miscellaneous income (expense), net 1,274 (137) 127 1,232
INCOME (LOSS) BEFORE INCOME TAXES 113,323 (8,778) 202,077 24,794
Income tax expense (2,811) (720) (13,114) (7,416)
NET INCOME (LOSS) 110,512 (9,498) 188,963 17,378
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647
NET INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC. 78,041 (783) 148,188 27,025
OTHER COMPREHENSIVE (LOSS) INCOME        
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0, and $0 (6,622) 12,476 (19,670) (8,290)
Cash flow hedges, net of income tax effect of $833, $645, $2,207 and $530 1,711 7,861 52,693 (82,890)
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0 294 217 881 652
Total other comprehensive (loss) income (4,617) 20,554 33,904 (90,528)
COMPREHENSIVE INCOME (LOSS) 105,895 11,056 222,867 (73,150)
Less: Comprehensive (income) loss attributable to noncontrolling interests in consolidated affiliates (31,099) 5,017 (36,168) 10,761
Comprehensive INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHLDERS $ 74,796 $ 16,073 $ 186,699 $ (62,389)
EARNINGS PER UNIT        
Basic earnings (loss) per unit attributable to Rayonier, L.P. (in dollars per unit) $ 0.53 $ (0.01) $ 1.03 $ 0.20
Diluted earnings (loss) per unit attributable to Rayonier, L.P. (in dollars per unit) $ 0.53 $ (0.01) $ 1.03 $ 0.20