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EARNINGS PER SHARE AND PER UNIT
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE AND PER UNIT EARNINGS PER SHARE AND PER UNIT
Basic earnings per common share (“EPS”) is calculated by dividing net income attributable to Rayonier Inc. by the weighted average number of common shares outstanding. Diluted EPS is calculated by dividing net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership by the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of outstanding stock options, performance shares, restricted shares, restricted stock units and noncontrolling interests in Operating Partnership units.
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,
 2024202320242023
Earnings per common share - basic
Numerator:
Net Income$3,035 $19,096 $5,341 $26,534 
Less: Net income attributable to noncontrolling interests in the Operating Partnership(26)(318)(46)(492)
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates(1,106)245 (2,035)1,281 
Net income attributable to Rayonier Inc.$1,903 $19,023 $3,260 $27,323 
Denominator:
Denominator for basic earnings per common share - weighted average shares148,910,214 148,218,436 148,738,795 147,800,265 
Basic earnings per common share attributable to Rayonier Inc.:$0.01 $0.13 $0.02 $0.18 
Earnings per common share - diluted
Numerator:
Net Income$3,035 $19,096 $5,341 $26,534 
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates(1,106)245 (2,035)1,281 
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership$1,929 $19,341 $3,306 $27,815 
Denominator:
Denominator for basic earnings per common share - weighted average shares148,910,214 148,218,436 148,738,795 147,800,265 
Add: Dilutive effect of:
Stock options— — 82 943 
Performance shares, restricted shares and restricted stock units298,655 269,994 464,463 441,204 
Noncontrolling interests in Operating Partnership units2,059,420 2,476,761 2,118,829 2,785,928 
Denominator for diluted earnings per common share - adjusted weighted average shares151,268,289 150,965,191 151,322,169 151,028,340 
Diluted earnings per common share attributable to Rayonier Inc.:$0.01 $0.13 $0.02 $0.18 
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Anti-dilutive shares excluded from the computations of diluted earnings per common share:
Stock options, performance shares, restricted shares and restricted stock units205,155 241,316 149,365 152,992 
Basic earnings per unit (“EPU”) is calculated by dividing net income available to unitholders of Rayonier, L.P. by the weighted average number of units outstanding. Diluted EPU is calculated by dividing net income available to unitholders of Rayonier, L.P. by the weighted average number of units outstanding adjusted to include the potentially dilutive effect of outstanding unit equivalents, including stock options, performance shares, restricted shares and restricted stock units.
The following table provides details of the calculations of basic and diluted earnings per unit of the Operating Partnership:
Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Earnings per unit - basic
Numerator:
Net Income$3,035 $19,096 $5,341 $26,534 
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates(1,106)245 (2,035)1,281 
Net income available to unitholders$1,929 $19,341 $3,306 $27,815 
Denominator:
Denominator for basic earnings per unit - weighted average units150,969,634 150,695,197 150,857,624 150,586,193 
Basic earnings per unit attributable to Rayonier, L.P.:$0.01 $0.13 $0.02 $0.18 
Earnings per unit - diluted
Numerator:
Net Income$3,035 $19,096 $5,341 $26,534 
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates(1,106)245 (2,035)1,281 
Net income available to unitholders$1,929 $19,341 $3,306 $27,815 
Denominator:
Denominator for basic earnings per unit - weighted average units150,969,634 150,695,197 150,857,624 150,586,193 
Add: Dilutive effect of unit equivalents:
Stock options— — 82 943 
Performance shares, restricted shares and restricted stock units298,655 269,994 464,463 441,204 
Denominator for diluted earnings per unit - adjusted weighted average units151,268,289 150,965,191 151,322,169 151,028,340 
Diluted earnings per unit attributable to Rayonier, L.P.:$0.01 $0.13 $0.02 $0.18 
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit:
Stock options, performance shares, restricted shares and restricted stock units205,155 241,316 149,365 152,992