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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
SALES $ 195,630 $ 184,800 $ 454,760 $ 376,346
Costs and Expenses        
Cost of sales (154,891) (140,454) (364,390) (283,705)
Selling and general expenses (12,570) (10,984) (22,538) (20,794)
Other operating expense, net (Note 19) (16,483) (1,969) (17,594) (1,934)
Costs and expenses (183,944) (153,407) (404,522) (306,433)
OPERATING (LOSS) INCOME 11,686 31,393 50,238 69,913
Interest expense (9,820) (7,922) (18,036) (15,632)
Interest and other miscellaneous income, net 1,579 1,057 1,370 2,390
INCOME BEFORE INCOME TAXES 3,445 24,528 33,572 56,671
Income tax expense (Note 10) (2,990) (3,608) (6,696) (7,958)
NET INCOME 455 20,920 26,876 48,713
Less: Net income attributable to noncontrolling interest in the Operating Partnership (219) 0 (219) 0
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates 1,499 (2,168) 931 (5,167)
NET INCOME ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHOLDERS 1,735 18,752 27,588 43,546
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0, and $0 23,258 (5,604) (20,765) 429
Cash flow hedges, net of income tax effect of $1,741, $91, $116 and $244 (7,276) (19,519) (90,751) (30,205)
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0 217 112 434 224
Total other comprehensive (loss) income 16,199 (25,011) (111,082) (29,552)
COMPREHENSIVE INCOME (LOSS) 16,654 (4,091) (84,206) 19,161
Less: Comprehensive income attributable to noncontrolling interests in the Operating Partnership (676) 0 (676) 0
Less: Comprehensive (income) loss attributable to noncontrolling interests in consolidated affiliates (4,917) (815) 5,743 (5,366)
Comprehensive INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHLDERS $ 11,061 $ (4,906) $ (79,139) $ 13,795
EARNINGS PER COMMON SHARE / UNIT (NOTE 14)        
Basic earnings per share attributable to Rayonier Inc (in dollars per share) $ 0.01 $ 0.14 $ 0.21 $ 0.34
Diluted earnings per share attributable to Rayonier Inc (in dollars per share) $ 0.01 $ 0.14 $ 0.21 $ 0.34
Rayonier Limited Partnership        
SALES $ 195,630 $ 184,800 $ 454,760 $ 376,346
Costs and Expenses        
Cost of sales (154,891) (140,454) (364,390) (283,705)
Selling and general expenses (12,570) (10,984) (22,538) (20,794)
Other operating expense, net (Note 19) (16,483) (1,969) (17,594) (1,934)
Costs and expenses (183,944) (153,407) (404,522) (306,433)
OPERATING (LOSS) INCOME 11,686 31,393 50,238 69,913
Interest expense (9,820) (7,922) (18,036) (15,632)
Interest and other miscellaneous income, net 1,579 1,057 1,370 2,390
INCOME BEFORE INCOME TAXES 3,445 24,528 33,572 56,671
Income tax expense (Note 10) (2,990) (3,608) (6,696) (7,958)
NET INCOME 455 20,920 26,876 48,713
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates 1,499 (2,168) 931 (5,167)
NET INCOME ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHOLDERS 1,954 18,752 27,807 43,546
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0, and $0 23,258 (5,604) (20,765) 429
Cash flow hedges, net of income tax effect of $1,741, $91, $116 and $244 (7,276) (19,519) (90,751) (30,205)
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0 217 112 434 224
Total other comprehensive (loss) income 16,199 (25,011) (111,082) (29,552)
COMPREHENSIVE INCOME (LOSS) 16,654 (4,091) (84,206) 19,161
Less: Comprehensive (income) loss attributable to noncontrolling interests in consolidated affiliates (4,917) (815) 5,743 (5,366)
Comprehensive INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHLDERS $ 11,737 $ (4,906) $ (78,463) $ 13,795
EARNINGS PER COMMON UNIT (NOTE 14)        
Basic earnings per share attributable to Rayonier, L.P. (in dollars per unit) $ 0.01 $ 0.14 $ 0.21 $ 0.34
Diluted earnings per share attributable to Rayonier, L.P. (in dollars per unit) $ 0.01 $ 0.14 $ 0.21 $ 0.34