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RAYONIER INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
SALES (NOTE 3) $ 194,993 $ 201,579 $ 536,700 $ 589,526
Costs and Expenses        
Cost of sales (147,202) (145,622) (419,053) (463,197)
Selling and general expenses (18,271) (18,947) (57,852) (54,677)
Other operating expense, net (Note 14) (1,914) (1,654) (3,538) (5,571)
Costs and expenses (167,387) (166,223) (480,443) (523,445)
OPERATING INCOME 27,606 35,356 56,257 66,081
Interest expense, net (10,021) (12,598) (29,576) (36,755)
Interest and other miscellaneous income, net 12,892 529 8,805 21,725
INCOME BEFORE INCOME TAXES 30,477 23,287 35,486 51,051
Income tax (expense) benefit (Note 16) (35) (547) 297 (1,777)
NET INCOME 30,442 22,740 35,783 49,274
Less: Net income attributable to noncontrolling interests in the Operating Partnership (391) (320) (437) (811)
Less: Net income attributable to noncontrolling interests in consolidated affiliates (1,293) (3,183) (3,328) (1,902)
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 28,758 19,237 32,018 46,561
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0 and $0 13,338 (4,413) 2,402 (17,350)
Cash flow hedges, net of income tax effect of $2,312, $75, $1,339 and $322 (15,827) 7,379 (12,664) 7,002
Pension and postretirement benefit plans, net of income tax effect of $0, $0, $1,222 and $0 139 2 9,701 4
Total other comprehensive (loss) income (2,350) 2,968 (561) (10,344)
COMPREHENSIVE INCOME 28,092 25,708 35,222 38,930
Less: Comprehensive income attributable to noncontrolling interests in the Operating Partnership (334) (373) (417) (592)
Less: Comprehensive income attributable to noncontrolling interests in consolidated affiliates (3,195) (2,906) (4,168) (884)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $ 24,563 $ 22,429 $ 30,637 $ 37,454
EARNINGS PER COMMON SHARE (NOTE 5)        
Basic earnings per share attributable to Rayonier Inc. (in dollars per share) $ 0.19 $ 0.13 $ 0.22 $ 0.31
Diluted earnings per share attributable to Rayonier Inc. (in dollars per share) $ 0.19 $ 0.13 $ 0.21 $ 0.31