EARNINGS PER SHARE AND PER UNIT

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE AND PER UNIT

EARNINGS PER SHARE AND PER UNIT

The following table provides details of the calculations of basic and diluted earnings per common share of the Company:

	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
Earnings per common share - basic
Numerator:
Net Income	$455	$20,920	$26,876	$48,713
Less: Net income attributable to noncontrolling interest in the Operating Partnership	(219)	—	(219)	—
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates	1,499	(2,168)	931	(5,167)
Net income attributable to Rayonier Inc.	$1,735	$18,752	$27,588	$43,546
Denominator:
Denominator for basic earnings per common share - weighted average shares	133,318,209	129,380,282	131,227,852	129,277,490
Basic earnings per common share attributable to Rayonier Inc.:	$0.01	$0.14	$0.21	$0.34
Earnings per common share - diluted
Numerator:
Net Income	$455	$20,920	$26,876	$48,713
Less: Net loss (income) attributable to noncontrolling interest in consolidated affiliates	1,499	(2,168)	931	(5,167)
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership	$1,954	$18,752	$27,807	$43,546
Denominator:
Denominator for basic earnings per common share - weighted average shares	133,318,209	129,380,282	131,227,852	129,277,490
Add: Dilutive effect of:
Stock options	—	13,463	537	16,580
Performance shares, restricted shares and restricted stock units	49,299	250,170	129,390	403,915
Noncontrolling interests in common units	2,589,518	—	1,294,759	—
Denominator for diluted earnings per common share - adjusted weighted average shares	135,957,026	129,643,915	132,652,538	129,697,985
Diluted earnings per common share attributable to Rayonier Inc.:	$0.01	$0.14	$0.21	$0.34

	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
Anti-dilutive shares excluded from the computations of diluted earnings per share:
Stock options, performance shares, restricted shares and restricted stock units	635,779	451,258	521,053	444,765
Total	635,779	451,258	521,053	444,765

The following table provides details of the calculations of basic and diluted earnings per common unit of the Operating Partnership:

	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
Earnings per common unit - basic
Numerator:
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 available to unitholders	$1,954	$18,752	$27,807	$43,546
Denominator:
Denominator for basic earnings per common unit - weighted average units	135,907,727	129,380,282	132,522,611	129,277,490
Basic earnings per common unit attributable to Rayonier, L.P.:	$0.01	$0.14	$0.21	$0.34
Earnings per common unit - diluted
Numerator:
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 available to unitholders	$1,954	$18,752	$27,807	$43,546
Denominator:
Denominator for basic earnings per common share - weighted average units	135,907,727	129,380,282	132,522,611	129,277,490
Add: Dilutive effect of unit equivalents:
Stock options	—	13,463	537	16,580
Performance shares, restricted shares and restricted stock units	49,299	250,170	129,390	403,915
Denominator for diluted earnings per common unit - adjusted weighted average units	135,957,026	129,643,915	132,652,538	129,697,985
Diluted earnings per common share attributable to Rayonier, L.P..:	$0.01	$0.14	$0.21	$0.34

	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit:
Stock options, performance shares, restricted shares and restricted stock units	635,779	451,258	521,053	444,765
Total	635,779	451,258	521,053	444,765