EARNINGS PER SHARE AND PER UNIT

3 Months Ended

Mar. 31, 2022

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 March 31,
	2022	2021
Earnings per common share - basic
Numerator:
Net Income	$30,998	$15,032
Less: Net income attributable to noncontrolling interests in the operating partnership	(669)	(341)
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(1,012)	(3,843)
Net income attributable to Rayonier Inc.	$29,317	$10,848
Denominator:
Denominator for basic earnings per common share - weighted average shares	145,430,171	137,870,821
Basic earnings per common share attributable to Rayonier Inc.:	$0.20	$0.08
Earnings per common share - diluted
Numerator:
Net Income	$30,998	$15,032
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(1,012)	(3,843)
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the operating partnership	$29,986	$11,189
Denominator:
Denominator for basic earnings per common share - weighted average shares	145,430,171	137,870,821
Add: Dilutive effect of:
Stock options	7,229	4,051
Performance shares, restricted shares and restricted stock units	794,892	353,131
Noncontrolling interests in operating partnership units	3,314,784	4,330,794
Denominator for diluted earnings per common share - adjusted weighted average shares	149,547,076	142,558,797
Diluted earnings per common share attributable to Rayonier Inc.:	$0.20	$0.08

	Three Months Ended March 31,
	2022	2021
Anti-dilutive shares excluded from the computations of diluted earnings per common share:
Stock options, performance shares, restricted shares and restricted stock units	254	194,256
Total	254	194,256

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

	Three Months Ended March 31,
	2022	2021
Earnings per unit - basic
Numerator:
Net Income	$30,998	$15,032
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(1,012)	(3,843)
Net income available to unitholders	$29,986	$11,189
Denominator:
Denominator for basic earnings per unit - weighted average units	148,744,955	142,201,615
Basic earnings per unit attributable to Rayonier, L.P.:	$0.20	$0.08
Earnings per unit - diluted
Numerator:
Net Income	$30,998	$15,032
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(1,012)	(3,843)
Net income available to unitholders	$29,986	$11,189
Denominator:
Denominator for basic earnings per unit - weighted average units	148,744,955	142,201,615
Add: Dilutive effect of unit equivalents:
Stock options	7,229	4,051
Performance shares, restricted shares and restricted stock units	794,892	353,131
Denominator for diluted earnings per unit - adjusted weighted average units	149,547,076	142,558,797
Diluted earnings per unit attributable to Rayonier, L.P.:	$0.20	$0.08

	Three Months Ended March 31,
	2022	2021
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit:
Stock options, performance shares, restricted shares and restricted stock units	254	194,256
Total	254	194,256