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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
Total cash and cash equivalents $ 431,806 $ 84,507
Accounts receivable, less allowance for doubtful accounts of $81 and $25 42,352 49,082
Inventory 18,592 10,594
Prepaid expenses 19,362 16,168
Assets held for sale 56,397 3,449
Other current assets 2,212 6,765
Total current assets 619,930 170,565
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 2,788,991 3,262,126
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS 110,592 108,518
PROPERTY, PLANT AND EQUIPMENT    
Land 6,569 6,548
Buildings 31,028 31,024
Machinery and equipment 4,392 4,615
Construction in progress 710 452
Total property, plant and equipment, gross 42,699 42,639
Less — accumulated depreciation (14,167) (12,238)
Total property, plant and equipment, net 28,532 30,401
RIGHT-OF-USE ASSETS 107,631 108,992
OTHER ASSETS 50,113 45,156
TOTAL ASSETS 3,706,414 3,728,733
CURRENT LIABILITIES    
Accounts payable 27,989 24,790
Accrued taxes 18,503 7,347
Accrued payroll and benefits 11,210 12,327
Accrued interest 12,555 6,325
Deferred revenue 19,899 11,112
Distribution payable, Timber Funds 49,209 0
Other current liabilities 28,983 29,234
Total current liabilities 368,235 91,135
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,167,967  
PENSION AND OTHER POSTRETIREMENT BENEFITS 22,173 23,344
LONG-TERM LEASE LIABILITY 99,275 100,251
OTHER NON-CURRENT LIABILITIES 115,749 160,722
COMMITMENTS AND CONTINGENCIES
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 4,428,900 and 4,428,900 Common Units outstanding, respectively 140,555 130,121
SHAREHOLDERS’ EQUITY    
Common stock 1,296,877 1,101,675
Retained earnings 450,076 446,267
Accumulated other comprehensive loss (36,560) (73,885)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,710,393 1,474,057
Noncontrolling interests in consolidated affiliates 82,067 388,588
TOTAL SHAREHOLDERS’ EQUITY 1,792,460 1,862,645
CAPITAL    
Accumulated other comprehensive loss (36,560) (73,885)
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 3,706,414 3,728,733
Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 419,604 80,454
PROPERTY, PLANT AND EQUIPMENT    
RESTRICTED CASH, EXCLUDING TIMBER FUNDS 625 2,975
CURRENT LIABILITIES    
Less: Current maturities of long-term debt, excluding Timber Funds 199,887 0
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,167,967 1,300,336
Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 12,202 4,053
Restricted cash, Timber Funds 49,209 0
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 0 60,179
Rayonier Limited Partnership    
CURRENT ASSETS    
Total cash and cash equivalents 431,806 84,507
Accounts receivable, less allowance for doubtful accounts of $81 and $25 42,352 49,082
Inventory 18,592 10,594
Prepaid expenses 19,362 16,168
Assets held for sale 56,397 3,449
Other current assets 2,212 6,765
Total current assets 619,930 170,565
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 2,788,991 3,262,126
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS 110,592 108,518
PROPERTY, PLANT AND EQUIPMENT    
Land 6,569 6,548
Buildings 31,028 31,024
Machinery and equipment 4,392 4,615
Construction in progress 710 452
Total property, plant and equipment, gross 42,699 42,639
Less — accumulated depreciation (14,167) (12,238)
Total property, plant and equipment, net 28,532 30,401
RIGHT-OF-USE ASSETS 107,631 108,992
OTHER ASSETS 50,113 45,156
TOTAL ASSETS 3,706,414 3,728,733
CURRENT LIABILITIES    
Accounts payable 27,989 24,790
Accrued taxes 18,503 7,347
Accrued payroll and benefits 11,210 12,327
Accrued interest 12,555 6,325
Deferred revenue 19,899 11,112
Distribution payable, Timber Funds 49,209 0
Other current liabilities 28,983 29,234
Total current liabilities 368,235 91,135
PENSION AND OTHER POSTRETIREMENT BENEFITS 22,173 23,344
LONG-TERM LEASE LIABILITY 99,275 100,251
OTHER NON-CURRENT LIABILITIES 115,749 160,722
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 4,428,900 and 4,428,900 Common Units outstanding, respectively 140,555 130,121
SHAREHOLDERS’ EQUITY    
Accumulated other comprehensive loss (32,834) (71,345)
CAPITAL    
General partners’ capital 17,432 15,454
Limited partners’ capital 1,725,795 1,529,948
Accumulated other comprehensive loss (32,834) (71,345)
TOTAL CONTROLLING INTEREST CAPITAL 1,710,393 1,474,057
Noncontrolling interests in consolidated affiliates 82,067 388,588
TOTAL CAPITAL 1,792,460 1,862,645
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 3,706,414 3,728,733
Rayonier Limited Partnership | Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 419,604 80,454
PROPERTY, PLANT AND EQUIPMENT    
RESTRICTED CASH, EXCLUDING TIMBER FUNDS 625 2,975
CURRENT LIABILITIES    
Less: Current maturities of long-term debt, excluding Timber Funds 199,887 0
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,167,967 1,300,336
Rayonier Limited Partnership | Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 12,202 4,053
Restricted cash, Timber Funds 49,209 0
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS $ 0 $ 60,179