XML 117 R105.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidating Financial Statements Statements of Income (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Income Statement [Abstract]                      
SALES $ 388,423 $ 385,091 $ 357,397 $ 357,731 $ 315,308 $ 377,515 $ 312,210 $ 310,200 $ 1,488,642 $ 1,315,233 $ 1,168,567
Costs and Expenses                      
Cost of sales                 1,073,732 990,099 914,772
Selling and general expenses                 66,541 67,102 62,633
Other operating expense (income), net                 (3,829) (10,519) (221,172)
Costs and Expenses, Total                 1,136,444 1,046,682 756,233
Equity in income (loss) of New Zealand joint venture                 4,088 1,033 (2,826)
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                 356,286 269,584 409,508
Gain on sale of a portion of interest in the New Zealand joint venture                 0 12,367 0
OPERATING (LOSS) INCOME 81,325 [1] 108,310 79,073 87,578 56,665 92,082 56,344 76,860 [2] 356,286 281,951 409,508
Interest expense                 (50,775) (50,463) (52,441)
Interest and miscellaneous income (expense), net                 851 1,315 1,810
Equity in income from subsidiaries                 0 0 0
INCOME BEFORE INCOME TAXES                 306,362 232,803 358,877
Income tax benefit (expense)                 (30,357) (15,217) (46,336)
NET INCOME 56,230 [1] 104,909 [3] 56,454 58,412 59,171 [4] 62,904 38,558 56,953 [2] 276,005 217,586 312,541
Parent Company [Member]
                     
Income Statement [Abstract]                      
SALES                 0 0 0
Costs and Expenses                      
Cost of sales                 0 0 0
Selling and general expenses                 0 0 0
Other operating expense (income), net                 0 0 0
Costs and Expenses, Total                 0 0 0
Equity in income (loss) of New Zealand joint venture                 0 0 0
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   0  
Gain on sale of a portion of interest in the New Zealand joint venture                   0  
OPERATING (LOSS) INCOME                 0 0 0
Interest expense                 621 0 0
Interest and miscellaneous income (expense), net                 0 0 0
Equity in income from subsidiaries                 275,384 217,586 312,541
INCOME BEFORE INCOME TAXES                 276,005 217,586 312,541
Income tax benefit (expense)                 0 0 0
NET INCOME                 276,005 217,586 312,541
Senior Exchangeable Notes due 2012 & 2015 [Member] | Guarantor Subsidiaries [Member]
                     
Income Statement [Abstract]                      
SALES                 0 0 0
Costs and Expenses                      
Cost of sales                 0 0 0
Selling and general expenses                 10,710 10,122 11,349
Other operating expense (income), net                 117 385 84
Costs and Expenses, Total                 10,827 10,507 11,433
Equity in income (loss) of New Zealand joint venture                 0 0 0
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   (10,507)  
Gain on sale of a portion of interest in the New Zealand joint venture                   0  
OPERATING (LOSS) INCOME                 (10,827) (10,507) (11,433)
Interest expense                 (1,133) 239 (113)
Interest and miscellaneous income (expense), net                 5,280 12,952 5,244
Equity in income from subsidiaries                 281,892 221,578 328,682
INCOME BEFORE INCOME TAXES                 275,212 224,262 322,380
Income tax benefit (expense)                 172 (6,676) (9,839)
NET INCOME                 275,384 217,586 312,541
Senior Exchangeable Notes due 2012 & 2015 [Member] | Issuer Subsidiary [Member]
                     
Income Statement [Abstract]                      
SALES                 0 0 0
Costs and Expenses                      
Cost of sales                 0 0 0
Selling and general expenses                 0 0 0
Other operating expense (income), net                 0 0 0
Costs and Expenses, Total                 0 0 0
Equity in income (loss) of New Zealand joint venture                 0 0 0
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   0  
Gain on sale of a portion of interest in the New Zealand joint venture                   0  
OPERATING (LOSS) INCOME                 0 0 0
Interest expense                 (49,555) (50,313) (47,761)
Interest and miscellaneous income (expense), net                 (4,508) (4,309) (3,832)
Equity in income from subsidiaries                 170,048 137,471 282,186
INCOME BEFORE INCOME TAXES                 115,985 82,849 230,593
Income tax benefit (expense)                 19,733 19,937 18,831
NET INCOME                 135,718 102,786 249,424
Senior Exchangeable Notes due 2012 & 2015 [Member] | Non-guarantor Subsidiaries of Rayonier TRS Holdings Inc [Member]
                     
Income Statement [Abstract]                      
SALES                 1,374,090 1,234,254 1,016,463
Costs and Expenses                      
Cost of sales                 1,036,494 992,543 831,167
Selling and general expenses                 53,102 53,874 47,953
Other operating expense (income), net                 10,181 3,184 (204,268)
Costs and Expenses, Total                 1,099,777 1,049,601 674,852
Equity in income (loss) of New Zealand joint venture                 726 810 357
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   185,463  
Gain on sale of a portion of interest in the New Zealand joint venture                   7,697  
OPERATING (LOSS) INCOME                 275,039 193,160 341,968
Interest expense                 766 (256) 64
Interest and miscellaneous income (expense), net                 (55,495) (26,955) (4,518)
Equity in income from subsidiaries                 0 0 0
INCOME BEFORE INCOME TAXES                 220,310 165,949 337,514
Income tax benefit (expense)                 (50,262) (28,478) (55,328)
NET INCOME                 170,048 137,471 282,186
Senior Exchangeable Notes due 2012 & 2015 [Member] | Non-guarantor Subsidiaries All Other Subsidiaries [Member]
                     
Income Statement [Abstract]                      
SALES                 263,808 225,524 193,019
Costs and Expenses                      
Cost of sales                 129,335 119,682 129,165
Selling and general expenses                 2,729 3,106 3,331
Other operating expense (income), net                 (14,127) (14,043) (15,388)
Costs and Expenses, Total                 117,937 108,745 117,108
Equity in income (loss) of New Zealand joint venture                 3,362 223 (3,183)
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   117,002  
Gain on sale of a portion of interest in the New Zealand joint venture                   4,670  
OPERATING (LOSS) INCOME                 149,233 121,672 72,728
Interest expense                 (1,474) (133) (4,631)
Interest and miscellaneous income (expense), net                 55,574 19,627 4,981
Equity in income from subsidiaries                 0 0 0
INCOME BEFORE INCOME TAXES                 203,333 141,166 73,078
Income tax benefit (expense)                 0 0 0
NET INCOME                 203,333 141,166 73,078
Senior Exchangeable Notes due 2012 & 2015 [Member] | Consolidation, Eliminations [Member]
                     
Income Statement [Abstract]                      
SALES                 (149,256) (144,545) (40,915)
Costs and Expenses                      
Cost of sales                 (92,097) (122,126) (45,560)
Selling and general expenses                 0 0 0
Other operating expense (income), net                 0 (45) (1,600)
Costs and Expenses, Total                 (92,097) (122,171) (47,160)
Equity in income (loss) of New Zealand joint venture                 0 0 0
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   (22,374)  
Gain on sale of a portion of interest in the New Zealand joint venture                   0  
OPERATING (LOSS) INCOME                 (57,159) (22,374) 6,245
Interest expense                 0 0 0
Interest and miscellaneous income (expense), net                 0 0 (65)
Equity in income from subsidiaries                 (727,324) (576,635) (923,409)
INCOME BEFORE INCOME TAXES                 (784,483) (599,009) (917,229)
Income tax benefit (expense)                 0 0 0
NET INCOME                 (784,483) (599,009) (917,229)
Potential additional securities issued by parent [Member] | Guarantor Subsidiaries [Member]
                     
Income Statement [Abstract]                      
SALES                 1,254,352 1,139,271 975,906
Costs and Expenses                      
Cost of sales                 928,477 907,500 798,668
Selling and general expenses                 51,564 53,477 49,971
Other operating expense (income), net                 13,493 5,362 (204,029)
Costs and Expenses, Total                 993,534 966,339 644,610
Equity in income (loss) of New Zealand joint venture                 0 0 0
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   172,932  
Gain on sale of a portion of interest in the New Zealand joint venture                   0  
OPERATING (LOSS) INCOME                 260,818 172,932 331,296
Interest expense                 (49,922) (50,330) (47,810)
Interest and miscellaneous income (expense), net                 (54,762) (18,322) (3,291)
Equity in income from subsidiaries                 148,848 126,904 78,528
INCOME BEFORE INCOME TAXES                 304,982 231,184 358,723
Income tax benefit (expense)                 (29,598) (13,598) (46,182)
NET INCOME                 275,384 217,586 312,541
Potential additional securities issued by parent [Member] | Non-Guarantor Subsidiaries [Member]
                     
Income Statement [Abstract]                      
SALES                 383,546 320,507 233,576
Costs and Expenses                      
Cost of sales                 237,350 204,725 161,664
Selling and general expenses                 14,977 13,625 12,662
Other operating expense (income), net                 (17,322) (15,836) (15,543)
Costs and Expenses, Total                 235,005 202,514 158,783
Equity in income (loss) of New Zealand joint venture                 4,088 1,033 (2,826)
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   119,026  
Gain on sale of a portion of interest in the New Zealand joint venture                   12,367  
OPERATING (LOSS) INCOME                 152,629 131,393 71,967
Interest expense                 (1,474) (133) (4,631)
Interest and miscellaneous income (expense), net                 55,613 19,637 5,166
Equity in income from subsidiaries                 0 0 0
INCOME BEFORE INCOME TAXES                 206,768 150,897 72,502
Income tax benefit (expense)                 (759) (1,619) (154)
NET INCOME                 206,009 149,278 72,348
Potential additional securities issued by parent [Member] | Consolidation, Eliminations [Member]
                     
Income Statement [Abstract]                      
SALES                 (149,256) (144,545) (40,915)
Costs and Expenses                      
Cost of sales                 (92,095) (122,126) (45,560)
Selling and general expenses                 0 0 0
Other operating expense (income), net                 0 (45) (1,600)
Costs and Expenses, Total                 (92,095) (122,171) (47,160)
Equity in income (loss) of New Zealand joint venture                 0 0 0
OPERATING (LOSS) INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN THE NEW ZEALAND JOINT VENTURE                   (22,374)  
Gain on sale of a portion of interest in the New Zealand joint venture                   0  
OPERATING (LOSS) INCOME                 (57,161) (22,374) 6,245
Interest expense                 0 0 0
Interest and miscellaneous income (expense), net                 0 0 (65)
Equity in income from subsidiaries                 (424,232) (344,490) (391,069)
INCOME BEFORE INCOME TAXES                 (481,393) (366,864) (384,889)
Income tax benefit (expense)                 0 0 0
NET INCOME                 $ (481,393) $ (366,864) $ (384,889)
[1] Fourth quarter 2011 included a pre-tax $6.5 million ($4.1 million after tax) increase in a disposition reserve.
[2] First quarter 2010 included a pre-tax $12.4 million ($11.5 million after tax) gain from the sale of a portion of the Company's interest in its New Zealand JV. See Note 5 — Joint Venture Investment for further information.
[3] Third quarter 2011 included a benefit of $16.0 million from the reversal of a reserve related to the taxability of the AFMC.
[4] Fourth quarter 2010 included a tax benefit of $24.3 million related to the CBPC. See Note 8 — Income Taxes.