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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS    
Total cash and cash equivalents $ 280,280 $ 362,173
Accounts receivable, less allowance for doubtful accounts of $12 and $59 40,902 30,018
Inventory 25,330 28,523
Prepaid expenses 19,050 18,528
Assets held for sale 2,226 5,099
Other current assets 455 749
Total current assets 369,707 451,431
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 2,799,507 2,894,996
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 13) 112,497 106,878
PROPERTY, PLANT AND EQUIPMENT    
Land 6,453 6,401
Buildings 31,015 31,168
Machinery and equipment 6,564 6,494
Construction in progress 553 460
Total property, plant and equipment, gross 44,585 44,523
Less — accumulated depreciation (16,212) (14,900)
Total property, plant and equipment, net 28,373 29,623
RIGHT-OF-USE ASSETS 102,262 101,837
OTHER ASSETS 84,266 50,966
TOTAL ASSETS 3,510,941 3,636,356
CURRENT LIABILITIES    
Accounts payable 28,201 23,447
Current maturities of long-term debt, net (Note 6) 622 124,965
Accrued taxes 6,287 12,446
Accrued payroll and benefits 8,438 14,514
Accrued interest 3,585 6,343
Deferred revenue 28,579 17,802
Other current liabilities 31,157 25,863
Total current liabilities 108,445 231,721
LONG-TERM DEBT, NET (NOTE 6) 1,263,394 1,242,819
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 16) 9,927 10,478
LONG-TERM LEASE LIABILITY 93,748 93,416
OTHER NON-CURRENT LIABILITIES 91,166 108,521
COMMITMENTS AND CONTINGENCIES (NOTES 9 and 10)
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 3,313,206 and 3,315,741 Units outstanding 123,811 133,823
SHAREHOLDERS’ EQUITY    
Common Shares, 480,000,000 shares authorized, 146,321,732 and 145,372,961 shares issued and outstanding 1,424,329 1,389,073
Retained earnings 382,495 402,307
Accumulated other comprehensive income (loss) (Note 18) 610 (19,604)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,807,434 1,771,776
Noncontrolling interests in consolidated affiliates (Note 4) 13,016 43,802
TOTAL SHAREHOLDERS’ EQUITY 1,820,450 1,815,578
CAPITAL    
Accumulated other comprehensive income (loss) (Note 18) 610 (19,604)
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/ REDEEMABLE OPERATING PARTNERSHIP UNITS AND SHAREHOLDERS’ EQUITY/CAPITAL 3,510,941 3,636,356
Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 279,331 358,680
PROPERTY, PLANT AND EQUIPMENT    
RESTRICTED CASH, EXCLUDING TIMBER FUNDS (NOTE 19) 14,329 625
Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 949 3,493
Restricted cash, Timber Funds (Note 19) 1,464 6,341
CURRENT LIABILITIES    
Distribution payable, Timber Funds 1,576 6,341
Rayonier Limited Partnership    
CURRENT ASSETS    
Total cash and cash equivalents 280,280 362,173
Accounts receivable, less allowance for doubtful accounts of $12 and $59 40,902 30,018
Inventory 25,330 28,523
Prepaid expenses 19,050 18,528
Assets held for sale 2,226 5,099
Other current assets 455 749
Total current assets 369,707 451,431
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 2,799,507 2,894,996
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 13) 112,497 106,878
PROPERTY, PLANT AND EQUIPMENT    
Land 6,453 6,401
Buildings 31,015 31,168
Machinery and equipment 6,564 6,494
Construction in progress 553 460
Total property, plant and equipment, gross 44,585 44,523
Less — accumulated depreciation (16,212) (14,900)
Total property, plant and equipment, net 28,373 29,623
RIGHT-OF-USE ASSETS 102,262 101,837
OTHER ASSETS 84,266 50,966
TOTAL ASSETS 3,510,941 3,636,356
CURRENT LIABILITIES    
Accounts payable 28,201 23,447
Current maturities of long-term debt, net (Note 6) 622 124,965
Accrued taxes 6,287 12,446
Accrued payroll and benefits 8,438 14,514
Accrued interest 3,585 6,343
Deferred revenue 28,579 17,802
Other current liabilities 31,157 25,863
Total current liabilities 108,445 231,721
LONG-TERM DEBT, NET (NOTE 6) 1,263,394 1,242,819
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 16) 9,927 10,478
LONG-TERM LEASE LIABILITY 93,748 93,416
OTHER NON-CURRENT LIABILITIES 91,166 108,521
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 3,313,206 and 3,315,741 Units outstanding 123,811 133,823
SHAREHOLDERS’ EQUITY    
Accumulated other comprehensive income (loss) (Note 18) 4,277 (15,463)
CAPITAL    
General partners’ capital 18,031 17,872
Limited partners’ capital 1,785,126 1,769,367
Accumulated other comprehensive income (loss) (Note 18) 4,277 (15,463)
TOTAL CONTROLLING INTEREST CAPITAL 1,807,434 1,771,776
Noncontrolling interests in consolidated affiliates 13,016 43,802
TOTAL CAPITAL 1,820,450 1,815,578
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/ REDEEMABLE OPERATING PARTNERSHIP UNITS AND SHAREHOLDERS’ EQUITY/CAPITAL 3,510,941 3,636,356
Rayonier Limited Partnership | Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 279,331 358,680
PROPERTY, PLANT AND EQUIPMENT    
RESTRICTED CASH, EXCLUDING TIMBER FUNDS (NOTE 19) 14,329 625
Rayonier Limited Partnership | Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 949 3,493
Restricted cash, Timber Funds (Note 19) 1,464 6,341
CURRENT LIABILITIES    
Distribution payable, Timber Funds $ 1,576 $ 6,341