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EARNINGS PER SHARE AND PER UNIT
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE AND PER UNIT EARNINGS PER SHARE AND PER UNIT
Basic earnings per common share (“EPS”) is calculated by dividing net income attributable to Rayonier Inc. by the weighted average number of common shares outstanding. Diluted EPS is calculated by dividing net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership by the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of outstanding stock options, performance shares, restricted shares, restricted stock units and noncontrolling interests in Operating Partnership units.
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,
 2024202320242023
Earnings per common share - basic
Numerator:
Net Income$30,442 $22,740 $35,783 $49,274 
Less: Net income attributable to noncontrolling interests in the Operating Partnership(391)(320)(437)(811)
Less: Net income attributable to noncontrolling interests in consolidated affiliates(1,293)(3,183)(3,328)(1,902)
Net income attributable to Rayonier Inc.$28,758 $19,237 $32,018 $46,561 
Denominator:
Denominator for basic earnings per common share - weighted average shares148,984,534 148,274,209 148,821,306 147,959,983 
Basic earnings per common share attributable to Rayonier Inc.:$0.19 $0.13 $0.22 $0.31 
Earnings per common share - diluted
Numerator:
Net Income$30,442 $22,740 $35,783 $49,274 
Less: Net income attributable to noncontrolling interests in consolidated affiliates(1,293)(3,183)(3,328)(1,902)
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership$29,149 $19,557 $32,455 $47,372 
Denominator:
Denominator for basic earnings per common share - weighted average shares148,984,534 148,274,209 148,821,306 147,959,983 
Add: Dilutive effect of:
Stock options— — 55 629 
Performance shares, restricted shares and restricted stock units281,407 299,613 403,444 394,006 
Noncontrolling interests in Operating Partnership units2,027,053 2,462,431 2,088,013 2,676,911 
Denominator for diluted earnings per common share - adjusted weighted average shares151,292,994 151,036,253 151,312,818 151,031,529 
Diluted earnings per common share attributable to Rayonier Inc.:$0.19 $0.13 $0.21 $0.31 
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Anti-dilutive shares excluded from the computations of diluted earnings per common share:
Stock options, performance shares, restricted shares and restricted stock units149,609 164,521 149,446 156,835 
Basic earnings per unit (“EPU”) is calculated by dividing net income available to unitholders of Rayonier, L.P. by the weighted average number of units outstanding. Diluted EPU is calculated by dividing net income available to unitholders of Rayonier, L.P. by the weighted average number of units outstanding adjusted to include the potentially dilutive effect of outstanding unit equivalents, including stock options, performance shares, restricted shares and restricted stock units.
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,
 2024202320242023
Earnings per unit - basic
Numerator:
Net Income$30,442 $22,740 $35,783 $49,274 
Less: Net income attributable to noncontrolling interests in consolidated affiliates(1,293)(3,183)(3,328)(1,902)
Net income available to unitholders$29,149 $19,557 $32,455 $47,372 
Denominator:
Denominator for basic earnings per unit - weighted average units151,011,587 150,736,640 150,909,319 150,636,894 
Basic earnings per unit attributable to Rayonier, L.P.:$0.19 $0.13 $0.22 $0.31 
Earnings per unit - diluted
Numerator:
Net Income$30,442 $22,740 $35,783 $49,274 
Less: Net income attributable to noncontrolling interests in consolidated affiliates(1,293)(3,183)(3,328)(1,902)
Net income available to unitholders$29,149 $19,557 $32,455 $47,372 
Denominator:
Denominator for basic earnings per unit - weighted average units151,011,587 150,736,640 150,909,319 150,636,894 
Add: Dilutive effect of unit equivalents:
Stock options— — 55 629 
Performance shares, restricted shares and restricted stock units281,407 299,613 403,444 394,006 
Denominator for diluted earnings per unit - adjusted weighted average units151,292,994 151,036,253 151,312,818 151,031,529 
Diluted earnings per unit attributable to Rayonier, L.P.:$0.19 $0.13 $0.21 $0.31 
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit:
Stock options, performance shares, restricted shares and restricted stock units149,609 164,521 149,446 156,835