EARNINGS PER SHARE AND PER UNIT

6 Months Ended

Jun. 30, 2022

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,
	2022	2021	2022	2021
Earnings per common share - basic
Numerator:
Net Income	$25,287	$63,420	$56,286	$78,452
Less: Net income attributable to noncontrolling interests in the operating partnership	(546)	(1,753)	(1,214)	(2,094)
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(637)	(4,461)	(1,650)	(8,304)
Net income attributable to Rayonier Inc.	$24,104	$57,206	$53,422	$68,054
Denominator:
Denominator for basic earnings per common share - weighted average shares	146,257,311	139,556,748	145,846,026	138,718,442
Basic earnings per common share attributable to Rayonier Inc.:	$0.16	$0.41	$0.37	$0.49
Earnings per common share - diluted
Numerator:
Net Income	$25,287	$63,420	$56,286	$78,452
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(637)	(4,461)	(1,650)	(8,304)
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the operating partnership	$24,650	$58,959	$54,636	$70,148
Denominator:
Denominator for basic earnings per common share - weighted average shares	146,257,311	139,556,748	145,846,026	138,718,442
Add: Dilutive effect of:
Stock options	8,100	12,646	7,664	8,348
Performance shares, restricted shares and restricted stock units	666,653	210,923	730,773	282,027
Noncontrolling interests in operating partnership units	3,312,315	4,275,912	3,313,543	4,303,201
Denominator for diluted earnings per common share - adjusted weighted average shares	150,244,379	144,056,229	149,898,006	143,312,018
Diluted earnings per common share attributable to Rayonier Inc.:	$0.16	$0.41	$0.36	$0.49

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Anti-dilutive shares excluded from the computations of diluted earnings per common share:
Stock options, performance shares, restricted shares and restricted stock units	109,515	208,614	54,884	201,435
Total	109,515	208,614	54,884	201,435

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,
	2022	2021	2022	2021
Earnings per unit - basic
Numerator:
Net Income	$25,287	$63,420	$56,286	$78,452
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(637)	(4,461)	(1,650)	(8,304)
Net income available to unitholders	$24,650	$58,959	$54,636	$70,148
Denominator:
Denominator for basic earnings per unit - weighted average units	149,569,626	143,832,660	149,159,569	143,021,643
Basic earnings per unit attributable to Rayonier, L.P.:	$0.16	$0.41	$0.37	$0.49
Earnings per unit - diluted
Numerator:
Net Income	$25,287	$63,420	$56,286	$78,452
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(637)	(4,461)	(1,650)	(8,304)
Net income available to unitholders	$24,650	$58,959	$54,636	$70,148
Denominator:
Denominator for basic earnings per unit - weighted average units	149,569,626	143,832,660	149,159,569	143,021,643
Add: Dilutive effect of unit equivalents:
Stock options	8,100	12,646	7,664	8,348
Performance shares, restricted shares and restricted stock units	666,653	210,923	730,773	282,027
Denominator for diluted earnings per unit - adjusted weighted average units	150,244,379	144,056,229	149,898,006	143,312,018
Diluted earnings per unit attributable to Rayonier, L.P.:	$0.16	$0.41	$0.36	$0.49

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit:
Stock options, performance shares, restricted shares and restricted stock units	109,515	208,614	54,884	201,435
Total	109,515	208,614	54,884	201,435