EARNINGS PER SHARE AND PER UNIT (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table provides details of the calculations of basic and diluted earnings per common share of the Company:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Earnings per common share - basic
Numerator:
Net Income	$22,740	$31,861	$49,274	$88,147
Less: Net income attributable to noncontrolling interests in the operating partnership	(320)	(455)	(811)	(1,670)
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(3,183)	(10,828)	(1,902)	(12,478)
Net income attributable to Rayonier Inc.	$19,237	$20,578	$46,561	$73,999
Denominator:
Denominator for basic earnings per common share - weighted average shares	148,274,209	146,370,340	147,959,983	146,022,718
Basic earnings per common share attributable to Rayonier Inc.:	$0.13	$0.14	$0.31	$0.51
Earnings per common share - diluted
Numerator:
Net Income	$22,740	$31,861	$49,274	$88,147
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(3,183)	(10,828)	(1,902)	(12,478)
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the operating partnership	$19,557	$21,033	$47,372	$75,669
Denominator:
Denominator for basic earnings per common share - weighted average shares	148,274,209	146,370,340	147,959,983	146,022,718
Add: Dilutive effect of:
Stock options	—	3,271	629	6,200
Performance shares, restricted shares and restricted stock units	299,613	620,316	394,006	693,954
Noncontrolling interests in operating partnership units	2,462,431	3,238,962	2,676,911	3,288,409
Denominator for diluted earnings per common share - adjusted weighted average shares	151,036,253	150,232,889	151,031,529	150,011,281
Diluted earnings per common share attributable to Rayonier Inc.:	$0.13	$0.14	$0.31	$0.50

The following table provides details of the calculations of basic and diluted earnings per unit of the Operating Partnership:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Earnings per unit - basic
Numerator:
Net Income	$22,740	$31,861	$49,274	$88,147
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(3,183)	(10,828)	(1,902)	(12,478)
Net income available to unitholders	$19,557	$21,033	$47,372	$75,669
Denominator:
Denominator for basic earnings per unit - weighted average units	150,736,640	149,609,302	150,636,894	149,311,127
Basic earnings per unit attributable to Rayonier, L.P.:	$0.13	$0.14	$0.31	$0.51
Earnings per unit - diluted
Numerator:
Net Income	$22,740	$31,861	$49,274	$88,147
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(3,183)	(10,828)	(1,902)	(12,478)
Net income available to unitholders	$19,557	$21,033	$47,372	$75,669
Denominator:
Denominator for basic earnings per unit - weighted average units	150,736,640	149,609,302	150,636,894	149,311,127
Add: Dilutive effect of unit equivalents:
Stock options	—	3,271	629	6,200
Performance shares, restricted shares and restricted stock units	299,613	620,316	394,006	693,954
Denominator for diluted earnings per unit - adjusted weighted average units	151,036,253	150,232,889	151,031,529	150,011,281
Diluted earnings per unit attributable to Rayonier, L.P.:	$0.13	$0.14	$0.31	$0.50

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Anti-dilutive shares excluded from the computations of diluted earnings per common share:
Stock options, performance shares, restricted shares and restricted stock units	164,521	126,132	156,835	78,634
Total	164,521	126,132	156,835	78,634

	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit:
Stock options, performance shares, restricted shares and restricted stock units	164,521	126,132	156,835	78,634
Total	164,521	126,132	156,835	78,634