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RAYONIER INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
SALES $ 208,865 $ 246,346 $ 387,947 $ 468,387
Costs and Expenses        
Cost of sales (168,410) (194,323) (317,576) (355,303)
Selling and general expenses (18,952) (17,356) (35,729) (32,116)
Other operating (expense) income, net (Note 14) (1,401) 801 (3,917) (182)
Costs and expenses (188,763) (210,878) (357,222) (387,601)
OPERATING INCOME 20,102 35,468 30,725 80,786
Interest expense, net (12,457) (9,083) (24,158) (17,420)
Interest and other miscellaneous income (expense), net 11,644 206 21,197 (262)
INCOME BEFORE INCOME TAXES 19,289 26,591 27,764 63,104
Income tax expense (Note 16) (193) (1,304) (1,230) (6,818)
NET INCOME 19,096 25,287 26,534 56,286
Less: Net income attributable to noncontrolling interests in the operating partnership (318) (546) (492) (1,214)
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates 245 (637) 1,281 (1,650)
Net Income 19,023 24,104 27,323 53,422
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0 and $0 (9,203) (36,285) (12,937) (29,827)
Cash flow hedges, net of income tax effect of $560, $4,211, $247 and $3,189 11,942 5,755 (378) 46,182
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0 2 188 3 376
Total other comprehensive income (loss) 2,741 (30,342) (13,312) 16,731
COMPREHENSIVE INCOME (LOSS) 21,837 (5,055) 13,222 73,017
Less: Comprehensive (income) loss attributable to noncontrolling interests in the operating partnership (375) 29 (220) (1,657)
Less: Comprehensive loss attributable to noncontrolling interests in consolidated affiliates 989 3,767 2,023 1,358
COMPREHENSIVE INCOME (LOSS) $ 22,451 $ (1,259) $ 15,025 $ 72,718
EARNINGS PER COMMON SHARE        
Basic earnings per share attributable to Rayonier Inc. (in dollars per share) $ 0.13 $ 0.16 $ 0.18 $ 0.37
Diluted earnings per share attributable to Rayonier Inc. (in dollars per share) $ 0.13 $ 0.16 $ 0.18 $ 0.36