EARNINGS PER SHARE AND PER UNIT (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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

	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Earnings per common share - basic
Numerator:
Net Income	$31,861	$110,512	$88,147	$188,963
Less: Net income attributable to noncontrolling interests in the operating partnership	(455)	(2,210)	(1,670)	(4,303)
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(10,828)	(32,471)	(12,478)	(40,775)
Net income attributable to Rayonier Inc.	$20,578	$75,831	$73,999	$143,885
Denominator:
Denominator for basic earnings per common share - weighted average shares	146,370,340	141,777,574	146,022,718	139,749,358
Basic earnings per common share attributable to Rayonier Inc.:	$0.14	$0.53	$0.51	$1.03
Earnings per common share - diluted
Numerator:
Net Income	$31,861	$110,512	$88,147	$188,963
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(10,828)	(32,471)	(12,478)	(40,775)
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the operating partnership	$21,033	$78,041	$75,669	$148,188
Denominator:
Denominator for basic earnings per common share - weighted average shares	146,370,340	141,777,574	146,022,718	139,749,358
Add: Dilutive effect of:
Stock options	3,271	9,803	6,200	8,833
Performance shares, restricted shares and restricted stock units	620,316	520,737	693,954	361,596
Noncontrolling interests in operating partnership units	3,238,962	4,131,454	3,288,409	4,245,323
Denominator for diluted earnings per common share - adjusted weighted average shares	150,232,889	146,439,568	150,011,281	144,365,110
Diluted earnings per common share attributable to Rayonier Inc.:	$0.14	$0.53	$0.50	$1.03

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

	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Earnings per unit - basic
Numerator:
Net Income	$31,861	$110,512	$88,147	$188,963
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(10,828)	(32,471)	(12,478)	(40,775)
Net income available to unitholders	$21,033	$78,041	$75,669	$148,188
Denominator:
Denominator for basic earnings per unit - weighted average units	149,609,302	145,909,028	149,311,127	143,994,681
Basic earnings per unit attributable to Rayonier, L.P.:	$0.14	$0.53	$0.51	$1.03
Earnings per unit - diluted
Numerator:
Net Income	$31,861	$110,512	$88,147	$188,963
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(10,828)	(32,471)	(12,478)	(40,775)
Net income available to unitholders	$21,033	$78,041	$75,669	$148,188
Denominator:
Denominator for basic earnings per unit - weighted average units	149,609,302	145,909,028	149,311,127	143,994,681
Add: Dilutive effect of unit equivalents:
Stock options	3,271	9,803	6,200	8,833
Performance shares, restricted shares and restricted stock units	620,316	520,737	693,954	361,596
Denominator for diluted earnings per unit - adjusted weighted average units	150,232,889	146,439,568	150,011,281	144,365,110
Diluted earnings per unit attributable to Rayonier, L.P.:	$0.14	$0.53	$0.50	$1.03

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	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	126,132	100,135	78,634	167,668
Total	126,132	100,135	78,634	167,668

	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	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	126,132	100,135	78,634	167,668
Total	126,132	100,135	78,634	167,668