Segment and Geographical Information (Notes)

6 Months Ended

Jun. 30, 2013

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Segment and Geographical Information [Text Block]

8. SEGMENT AND GEOGRAPHICAL INFORMATION

Rayonier operates in three reportable business segments: Forest Resources, Real Estate and Performance Fibers. Prior to the first quarter of 2013, the Company operated in four reportable business segments, which included Wood Products. In March 2013, the Company sold its Wood Products business and its operations are shown as discontinued operations for all periods presented. See Note 2 — Sale of Wood Products Business for additional information. On April 4, 2013, Rayonier acquired an additional 39 percent interest in the JV, bringing its total ownership to 65 percent. As a result, the JV’s results of operations have been consolidated and included within the Forest Resources segment since April 4, when the Company acquired control of the entity. Accordingly, the JV’s assets and liabilities are fully consolidated at June 30, 2013. See Note 6 — Joint Venture Investment for further information regarding the Company’s joint venture.

Forest Resources sales include all activities related to the harvesting of timber. Real Estate sales include all property sales, including those designated for higher and better use (“HBU”). The assets of the Real Estate segment include HBU property held by the Company’s real estate subsidiary, TerraPointe LLC. The Performance Fibers segment includes two major product lines, cellulose specialties and absorbent materials. The Company’s remaining operations include harvesting and selling timber acquired from third parties (log trading). These operations are reported in “Other Operations.” Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. The Company evaluates financial performance based on the operating income of the segments.

Operating income (loss) as presented in the Consolidated Statements of Income and Comprehensive Income is equal to segment income (loss). Certain income (loss) items in the Consolidated Statements of Income and Comprehensive Income are not allocated to segments. These items, which include gains (losses) from certain asset dispositions, interest income (expense), miscellaneous income (expense) and income tax (expense) benefit, are not considered by management to be part of segment operations.

Total assets, sales, operating income (loss) and depreciation, depletion and amortization by segment including Corporate were as follows:

	June 30,		December 31,
ASSETS	2013		2012
Forest Resources	$	2,275,145	$	1,690,030
Real Estate	85,018		112,647
Performance Fibers	1,067,673		902,309
Wood Products (a)	—		18,454
Other Operations	31,045		23,296
Corporate and other	369,170		376,215
Total	$	3,828,051	$	3,122,951

(a) The Company sold its Wood Products segment during the first quarter of 2013. See Note 2 — Sale of Wood Products Business for additional information.

	Three Months Ended June 30,						Six Months Ended June 30,
SALES	2013			2012			2013			2012
Forest Resources	$	109,060		$	52,663		$	166,162		$	104,858
Real Estate	13,376			11,680			37,673			24,326
Performance Fibers	253,025			254,509			537,213			505,364
Other Operations	33,872			29,268			62,099			50,409
Intersegment Eliminations (b)	(256		)	(24		)	(351		)	(290		)
Total	$	409,077		$	348,096		$	802,796		$	684,667

(b) Intersegment eliminations primarily reflect sales from our Forest Resources segment to our Performance Fibers segment.

	Three Months Ended June 30,					Six Months Ended June 30,
OPERATING INCOME(LOSS)	2013		2012			2013			2012
Forest Resources	$	20,890	$	8,249		$	34,145		$	16,254
Real Estate	6,105		5,999			22,947			12,477
Performance Fibers	79,081		83,727			170,751			164,357
Other Operations	1,779		1,148			1,944			218
Corporate and other (c)	2,706		(5,025		)	(3,863		)	(16,458		)
Total	$	110,561	$	94,098		$	225,924		$	176,848

(c) The three and six months ended June 30, 2013 includes a $16.1 million gain related to the consolidation of the New Zealand JV. See Note 6 — Joint Venture Investment.

	Three Months Ended June 30,				Six Months Ended June 30,
DEPRECIATION, DEPLETION AND AMORTIZATION	2013		2012		2013		2012
Forest Resources	$	27,291	$	17,066	$	43,735	$	33,900
Real Estate	2,469		1,600		6,646		3,445
Performance Fibers	13,649		15,139		28,802		26,500
Corporate and other	258		374		476		747
Total	$	43,667	$	34,179	$	79,659	$	64,592