XML 14 R78.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATING FINANCIAL STATEMENTS Condensed Consolidating Statements of Income and Comprehensive Income (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2012
Income Statement [Abstract]          
SALES $ 384,784 $ 386,163 $ 1,187,580 $ 1,070,830  
Cost of sales 287,150 259,201 850,866 738,480  
Selling and general expenses 15,326 15,476 48,354 50,633  
Other operating expense (income), net (1,341) 306 (4,553) (6,128)  
Costs and Expenses, Total 301,135 274,983 894,667 782,985  
Equity in income of New Zealand joint venture 0 66 562 249  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE 83,649 111,246 293,475 288,094  
Gain related to consolidation of New Zealand joint venture (Note 6) 0 0 16,098 0  
OPERATING INCOME 83,649 111,246 309,573 288,094  
Interest expense (13,031) (8,253) (30,768) (36,133)  
Interest and miscellaneous income (expense), net (746) 234 1,911 294  
Equity in income from subsidiaries 0 0 0 0  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 69,872 103,227 280,716 252,255  
Income tax benefit (expense) (11,505) (23,949) (31,200) (54,287)  
Income from continuing operations 58,367 79,278 249,516 197,968  
Income from discontinued operations, net of income tax 0 (1,282) (44,477) (5,108)  
NET INCOME 58,367 80,560 293,993 203,076 278,685
Less: Net income attributable to noncontrolling interest 1,022 0 1,749 0  
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 57,345 80,560 292,244 203,076  
Foreign currency translation adjustment 24,259 5,373 (2,967) 3,115 4,352
New Zealand joint venture cash flow hedges 3,433 878 4,209 86 213
Amortization of pension and postretirement plans, net of income tax 3,639 3,401 12,326 9,943 (496)
Total other comprehensive income 31,331 9,652 13,568 13,144  
COMPREHENSIVE INCOME 89,698 90,212 307,561 216,220  
Less: Comprehensive income (loss) attributable to noncontrolling interest 8,594 0 (909) 0  
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. 81,104 90,212 308,470 216,220  
Rayonier Inc. (Parent Guarantor) [Member]
         
Income Statement [Abstract]          
SALES 0 0 0 0  
Cost of sales 0 0 0 0  
Selling and general expenses 0 0 0 0  
Other operating expense (income), net 0 0 (1,701) 0  
Costs and Expenses, Total 0 0 (1,701) 0  
Equity in income of New Zealand joint venture   0 0 0  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE     1,701    
Gain related to consolidation of New Zealand joint venture (Note 6)     0    
OPERATING INCOME 0 0 1,701 0  
Interest expense (3,190) (3,136) (9,879) (7,502)  
Interest and miscellaneous income (expense), net 2,538 1,630 6,716 5,086  
Equity in income from subsidiaries 57,932 82,066 293,706 205,492  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 57,280 80,560 292,244 203,076  
Income tax benefit (expense) 65 0 0 0  
Income from continuing operations   80,560 292,244 203,076  
Income from discontinued operations, net of income tax   0 0 0  
NET INCOME 57,345 80,560 292,244 203,076  
Less: Net income attributable to noncontrolling interest 0   0    
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 57,345   292,244    
Foreign currency translation adjustment 17,887 5,373 237 3,115  
New Zealand joint venture cash flow hedges 2,233 878 3,663 86  
Amortization of pension and postretirement plans, net of income tax 3,639 3,401 12,326 9,943  
Total other comprehensive income 23,759 9,652 16,226 13,144  
COMPREHENSIVE INCOME 81,104 90,212 308,470 216,220  
Less: Comprehensive income (loss) attributable to noncontrolling interest 0   0    
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. 81,104   308,470    
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] | ROC (Subsidiary Guarantor) [Member]
         
Income Statement [Abstract]          
SALES 0 0 0 0  
Cost of sales 0 0 0 0  
Selling and general expenses 2,276 2,762 7,357 7,977  
Other operating expense (income), net 738 730 1,187 742  
Costs and Expenses, Total 3,014 3,492 8,544 8,719  
Equity in income of New Zealand joint venture   0 0 0  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE     (8,544)    
Gain related to consolidation of New Zealand joint venture (Note 6)     0    
OPERATING INCOME (3,014) (3,492) (8,544) (8,719)  
Interest expense (162) (196) (680) (646)  
Interest and miscellaneous income (expense), net 770 1,594 2,403 4,580  
Equity in income from subsidiaries 58,802 85,241 298,802 211,635  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 56,396 83,147 291,981 206,850  
Income tax benefit (expense) 1,536 (1,081) 1,725 (1,358)  
Income from continuing operations   82,066 293,706 205,492  
Income from discontinued operations, net of income tax   0 0 0  
NET INCOME 57,932 82,066 293,706 205,492  
Less: Net income attributable to noncontrolling interest 0   0    
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 57,932   293,706    
Foreign currency translation adjustment 17,887 5,373 237 3,115  
New Zealand joint venture cash flow hedges 2,231 878 3,663 86  
Amortization of pension and postretirement plans, net of income tax 3,639 3,401 12,326 9,943  
Total other comprehensive income 23,757 9,652 16,226 13,144  
COMPREHENSIVE INCOME 81,689 91,718 309,932 218,636  
Less: Comprehensive income (loss) attributable to noncontrolling interest 0   0    
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. 81,689   309,932    
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] | Rayonier TRS Holdings Inc. (Issuer) [Member]
         
Income Statement [Abstract]          
SALES 0 0 0 0  
Cost of sales 0 0 0 0  
Selling and general expenses 0 0 0 0  
Other operating expense (income), net 0 0 0 0  
Costs and Expenses, Total 0 0 0 0  
Equity in income of New Zealand joint venture   0 0 0  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE     0    
Gain related to consolidation of New Zealand joint venture (Note 6)     0    
OPERATING INCOME 0 0 0 0  
Interest expense (7,115) (10,244) (20,730) (30,713)  
Interest and miscellaneous income (expense), net (4,325) (980) (5,873) (3,022)  
Equity in income from subsidiaries 39,544 73,635 198,981 179,787  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 28,104 62,411 172,378 146,052  
Income tax benefit (expense) 3,627 4,096 9,164 12,313  
Income from continuing operations   66,507 181,542 158,365  
Income from discontinued operations, net of income tax   0 0 0  
NET INCOME 31,731 66,507 181,542 158,365  
Less: Net income attributable to noncontrolling interest 0   0    
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 31,731   181,542    
Foreign currency translation adjustment 2,084 107 629 483  
New Zealand joint venture cash flow hedges 2,231 0 1,014 0  
Amortization of pension and postretirement plans, net of income tax 2,747 2,578 9,578 7,537  
Total other comprehensive income 7,062 2,685 11,221 8,020  
COMPREHENSIVE INCOME 38,793 69,192 192,763 166,385  
Less: Comprehensive income (loss) attributable to noncontrolling interest 0   0    
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. 38,793   192,763    
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] | Non-guarantors [Member]
         
Income Statement [Abstract]          
SALES 384,784 386,163 1,187,580 1,070,830  
Cost of sales 287,150 259,201 850,866 738,480  
Selling and general expenses 13,050 12,714 40,997 42,656  
Other operating expense (income), net (2,740) (424) (4,039) (6,870)  
Costs and Expenses, Total 297,460 271,491 887,824 774,266  
Equity in income of New Zealand joint venture   66 562 249  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE     300,318    
Gain related to consolidation of New Zealand joint venture (Note 6)     16,098    
OPERATING INCOME 87,324 114,738 316,416 296,813  
Interest expense (2,564) 5,323 521 2,728  
Interest and miscellaneous income (expense), net 271 (2,010) (1,335) (6,350)  
Equity in income from subsidiaries 0 0 0 0  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 85,031 118,051 315,602 293,191  
Income tax benefit (expense) (16,671) (26,964) (42,089) (65,242)  
Income from continuing operations   91,087 273,513 227,949  
Income from discontinued operations, net of income tax   (1,282) (44,477) (5,108)  
NET INCOME 68,360 92,369 317,990 233,057  
Less: Net income attributable to noncontrolling interest 1,022   1,749    
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 67,338   316,241    
Foreign currency translation adjustment 24,259 4,887 (2,967) 2,633  
New Zealand joint venture cash flow hedges 3,434 879 4,209 86  
Amortization of pension and postretirement plans, net of income tax 2,747 (4,959) 9,578 0  
Total other comprehensive income 30,440 807 10,820 2,719  
COMPREHENSIVE INCOME 98,800 93,176 328,810 235,776  
Less: Comprehensive income (loss) attributable to noncontrolling interest 8,594   (909)    
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. 90,206   329,719    
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] | Consolidation Adjustments [Member]
         
Income Statement [Abstract]          
SALES 0 0 0 0  
Cost of sales 0 0 0 0  
Selling and general expenses 0 0 0 0  
Other operating expense (income), net 661 0 0 0  
Costs and Expenses, Total 661 0 0 0  
Equity in income of New Zealand joint venture   0 0 0  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE     0    
Gain related to consolidation of New Zealand joint venture (Note 6)     0    
OPERATING INCOME (661) 0 0 0  
Interest expense 0 0 0 0  
Interest and miscellaneous income (expense), net 0 0 0 0  
Equity in income from subsidiaries (156,278) (240,942) (791,489) (596,914)  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (156,939) (240,942) (791,489) (596,914)  
Income tax benefit (expense) (62) 0 0 0  
Income from continuing operations   (240,942) (791,489) (596,914)  
Income from discontinued operations, net of income tax   0 0 0  
NET INCOME (157,001) (240,942) (791,489) (596,914)  
Less: Net income attributable to noncontrolling interest 0   0    
NET INCOME ATTRIBUTABLE TO RAYONIER INC. (157,001)   (791,489)    
Foreign currency translation adjustment (37,858) (10,367) (1,103) (6,231)  
New Zealand joint venture cash flow hedges (6,696) (1,757) (8,340) (172)  
Amortization of pension and postretirement plans, net of income tax (9,133) (1,020) (31,482) (17,480)  
Total other comprehensive income (53,687) (13,144) (40,925) (23,883)  
COMPREHENSIVE INCOME (210,688) (254,086) (832,414) (620,797)  
Less: Comprehensive income (loss) attributable to noncontrolling interest 0   0    
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. (210,688)   (832,414)    
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] | ROC (Subsidiary Guarantor) [Member]
         
Income Statement [Abstract]          
SALES 0 0 0 0  
Cost of sales 0 0 0 0  
Selling and general expenses 2,276 2,762 7,357 7,977  
Other operating expense (income), net 738 730 1,187 742  
Costs and Expenses, Total 3,014 3,492 8,544 8,719  
Equity in income of New Zealand joint venture   0 0 0  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE     (8,544)    
Gain related to consolidation of New Zealand joint venture (Note 6)     0    
OPERATING INCOME (3,014) (3,492) (8,544) (8,719)  
Interest expense (7,277) (10,440) (21,410) (31,359)  
Interest and miscellaneous income (expense), net (3,555) 614 (3,470) 1,558  
Equity in income from subsidiaries 66,610 92,369 316,241 233,057  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 52,764 79,051 282,817 194,537  
Income tax benefit (expense) 5,168 3,015 10,889 10,955  
Income from continuing operations   82,066 293,706 205,492  
Income from discontinued operations, net of income tax   0 0 0  
NET INCOME 57,932 82,066 293,706 205,492  
Less: Net income attributable to noncontrolling interest 0   0    
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 57,932   293,706    
Foreign currency translation adjustment 17,887 5,373 237 3,115  
New Zealand joint venture cash flow hedges 2,231 878 3,663 86  
Amortization of pension and postretirement plans, net of income tax 3,639 3,401 12,326 9,943  
Total other comprehensive income 23,757 9,652 16,226 13,144  
COMPREHENSIVE INCOME 81,689 91,718 309,932 218,636  
Less: Comprehensive income (loss) attributable to noncontrolling interest 0   0    
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. 81,689   309,932    
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] | Non-guarantors [Member]
         
Income Statement [Abstract]          
SALES 384,784 386,163 1,187,580 1,070,830  
Cost of sales 287,150 259,201 850,866 738,480  
Selling and general expenses 13,050 12,714 40,997 42,656  
Other operating expense (income), net (2,740) (424) (4,039) (6,870)  
Costs and Expenses, Total 297,460 271,491 887,824 774,266  
Equity in income of New Zealand joint venture   66 562 249  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE     300,318    
Gain related to consolidation of New Zealand joint venture (Note 6)     16,098    
OPERATING INCOME 87,324 114,738 316,416 296,813  
Interest expense (2,564) 5,323 521 2,728  
Interest and miscellaneous income (expense), net 271 (2,010) (1,335) (6,350)  
Equity in income from subsidiaries 0 0 0 0  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 85,031 118,051 315,602 293,191  
Income tax benefit (expense) (16,671) (26,964) (42,089) (65,242)  
Income from continuing operations   91,087 273,513 227,949  
Income from discontinued operations, net of income tax   (1,282) (44,477) (5,108)  
NET INCOME 68,360 92,369 317,990 233,057  
Less: Net income attributable to noncontrolling interest 1,022   1,749    
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 67,338   316,241    
Foreign currency translation adjustment 24,259 4,887 (2,967) 2,633  
New Zealand joint venture cash flow hedges 3,434 879 4,209 86  
Amortization of pension and postretirement plans, net of income tax 2,747 (4,959) 9,578 0  
Total other comprehensive income 30,440 807 10,820 2,719  
COMPREHENSIVE INCOME 98,800 93,176 328,810 235,776  
Less: Comprehensive income (loss) attributable to noncontrolling interest 8,594   (909)    
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. 90,206   329,719    
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] | Consolidation Adjustments [Member]
         
Income Statement [Abstract]          
SALES 0 0 0 0  
Cost of sales 0 0 0 0  
Selling and general expenses 0 0 0 0  
Other operating expense (income), net 661 0 0 0  
Costs and Expenses, Total 661 0 0 0  
Equity in income of New Zealand joint venture   0 0 0  
OPERATING INCOME BEFORE GAIN ON CONSOLIDATION OF NEW ZEALAND JOINT VENTURE     0    
Gain related to consolidation of New Zealand joint venture (Note 6)     0    
OPERATING INCOME (661) 0 0 0  
Interest expense 0 0 0 0  
Interest and miscellaneous income (expense), net 0 0 0 0  
Equity in income from subsidiaries (124,542) (174,435) (609,947) (438,549)  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (125,203) (174,435) (609,947) (438,549)  
Income tax benefit (expense) (67) 0 0 0  
Income from continuing operations   (174,435) (609,947) (438,549)  
Income from discontinued operations, net of income tax   0 0 0  
NET INCOME (125,270) (174,435) (609,947) (438,549)  
Less: Net income attributable to noncontrolling interest 0   0    
NET INCOME ATTRIBUTABLE TO RAYONIER INC. (125,270)   (609,947)    
Foreign currency translation adjustment (35,774) (10,260) (474) (5,748)  
New Zealand joint venture cash flow hedges (4,465) (1,757) (7,326) (172)  
Amortization of pension and postretirement plans, net of income tax (6,386) 1,558 (21,904) (9,943)  
Total other comprehensive income (46,625) (10,459) (29,704) (15,863)  
COMPREHENSIVE INCOME (171,895) (184,894) (639,651) (454,412)  
Less: Comprehensive income (loss) attributable to noncontrolling interest 0   0    
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $ (171,895)   $ (639,651)