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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
SALES $ 222,041 $ 191,447
Costs and Expenses    
Cost of sales (160,979) (151,378)
Selling and general expenses (14,760) (14,032)
Other operating income (expense), net (984) 2,448
Costs and expenses (176,723) (162,962)
OPERATING INCOME 45,318 28,485
Interest expense (8,337) (10,028)
Interest and other miscellaneous expense, net (468) (4)
INCOME BEFORE INCOME TAXES 36,513 18,453
Income tax expense (5,515) (3,421)
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
OTHER COMPREHENSIVE INCOME    
Foreign currency translation adjustment, net of income tax effect of $0 and $0 6,458 (14,288)
Cash flow hedges, net of income tax effect of $1,022 and $1,059 40,427 61,001
Amortization of pension and postretirement plans, net of income tax expense of $0 and $0 188 294
Total other comprehensive income 47,073 47,007
COMPREHENSIVE INCOME 78,071 62,039
Less: Comprehensive income attributable to noncontrolling interests in the operating partnership (1,686) (1,872)
Less: Comprehensive income attributable to noncontrolling interests in consolidated affiliates (2,408) (580)
Comprehensive INCOME ATTRIBUTABLE TO RAYONIER INC / L.P. UNITHOLDERS $ 73,977 $ 59,587
EARNINGS PER COMMON SHARE    
Basic earnings (loss) per share attributable to Rayonier Inc. (in dollars per share) $ 0.20 $ 0.08
Diluted earnings (loss) per share attributable to Rayonier Inc. (in dollars per share) $ 0.20 $ 0.08
Rayonier Limited Partnership    
SALES $ 222,041 $ 191,447
Costs and Expenses    
Cost of sales (160,979) (151,378)
Selling and general expenses (14,760) (14,032)
Other operating income (expense), net (984) 2,448
Costs and expenses (176,723) (162,962)
OPERATING INCOME 45,318 28,485
Interest expense (8,337) (10,028)
Interest and other miscellaneous expense, net (468) (4)
INCOME BEFORE INCOME TAXES 36,513 18,453
Income tax expense (5,515) (3,421)
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. 29,986 11,189
OTHER COMPREHENSIVE INCOME    
Foreign currency translation adjustment, net of income tax effect of $0 and $0 6,458 (14,288)
Cash flow hedges, net of income tax effect of $1,022 and $1,059 40,427 61,001
Amortization of pension and postretirement plans, net of income tax expense of $0 and $0 188 294
Total other comprehensive income 47,073 47,007
COMPREHENSIVE INCOME 78,071 62,039
Less: Comprehensive income attributable to noncontrolling interests in consolidated affiliates (2,408) (580)
Comprehensive INCOME ATTRIBUTABLE TO RAYONIER INC / L.P. UNITHOLDERS $ 75,663 $ 61,459
EARNINGS PER UNIT    
Basic earnings (loss) per unit attributable to Rayonier, L.P. (in dollars per unit) $ 0.20 $ 0.08
Diluted earnings (loss) per unit attributable to Rayonier, L.P. (in dollars per unit) $ 0.20 $ 0.08