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(LOSS) EARNINGS PER SHARE AND PER UNIT
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
(LOSS) EARNINGS PER SHARE AND PER UNIT (LOSS) EARNINGS PER SHARE AND PER UNIT
Basic (loss) 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 (“NCI”) 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, noncontrolling interests in Operating Partnership units and contingently issuable shares and units.
The following table provides details of the calculation of basic (loss) earnings per common share of the Company:
Three Months Ended March 31,
 20252024
Basic (loss) earnings per common share
Numerator:
Net loss from continuing operations($5,592)($4,510)
Less: Net loss from continuing operations attributable to NCI in the Operating Partnership74 65 
Less: Net loss from continuing operations attributable to NCI in consolidated affiliates— 10 
Net loss from continuing operations attributable to Rayonier Inc.($5,518)($4,435)
Net income from discontinued operations, net of tax2,507 6,816 
Less: Net income from discontinued operations attributable to NCI in the Operating Partnership(28)(85)
Less: Net income from discontinued operations attributable to NCI in consolidated affiliates(385)(939)
Net income from discontinued operations attributable to Rayonier Inc.$2,094 $5,792 
Net (loss) income($3,085)$2,306 
Less: Net loss (income) attributable to NCI in the Operating Partnership46 (20)
Less: Net income attributable to NCI in consolidated affiliates(385)(929)
Net (loss) income attributable to Rayonier Inc.($3,424)$1,357 
Denominator:
Denominator for basic earnings per common share - weighted average shares153,677,854 148,567,375 
Basic (loss) earnings per common share attributable to Rayonier Inc.:
Continuing operations($0.04)($0.03)
Discontinued operations$0.01 $0.04 
Basic (loss) earnings per common share($0.02)$0.01 
The following table provides details of the calculation of diluted (loss) earnings per common share of the Company:
Three Months Ended March 31,
20252024
Diluted (loss) earnings per common share
Numerator:
Net loss from continuing operations($5,592)($4,510)
Less: Net loss from continuing operations attributable to NCI in the Operating Partnership (a)74 65 
Less: Net loss from continuing operations attributable to NCI in consolidated affiliates— 10 
Net loss from continuing operations attributable to Rayonier Inc. used for determining diluted loss per common share($5,518)($4,435)
Net income from discontinued operations, net of tax2,507 6,816 
Less: Net income from discontinued operations attributable to NCI in the Operating Partnership (a)(28)(85)
Less: Net income from discontinued operations attributable to NCI in consolidated affiliates(385)(939)
Net income from discontinued operations attributable to Rayonier Inc. used for determining diluted earnings per common share$2,094 $5,792 
Net (loss) income(3,085)2,306 
Less: Net loss (income) attributable to NCI in the Operating Partnership (a)46 (20)
Less: Net income attributable to NCI in consolidated affiliates(385)(929)
Net (loss) income attributable to Rayonier Inc. used for determining diluted (loss) earnings per common share($3,424)$1,357 
Denominator:
Denominator for diluted earnings per common share - weighted average shares (b)153,677,854 148,567,375 
Diluted (loss) earnings per common share attributable to Rayonier Inc.:
Continuing operations($0.04)($0.03)
Discontinued operations$0.01 $0.04 
Diluted (loss) earnings per common share($0.02)$0.01 
Three Months Ended March 31,
20252024
Anti-dilutive shares excluded from the computations of diluted (loss) earnings per common share:
Stock options, performance shares, restricted shares, restricted stock units, noncontrolling interests in Operating Partnership units, and contingently issuable shares and units from special dividend (b)5,019,873 2,902,249 
(a)For the quarters ended March 31, 2025 and 2024, net (loss) income attributable to NCI in the Operating Partnership was included in the numerator for diluted (loss) earnings attributable to Rayonier Inc. due to a loss from continuing operations.
(b)For the quarters ended March 31, 2025 and 2024, the effect of anti-dilutive securities related to stock options, performance shares, restricted shares, restricted stock units and contingently issuable shares and units from the special dividend were not included in the denominator of calculating diluted loss (earnings) per share due to a loss from continuing operations. Also, as a result of the net loss from continuing operations attributable to Rayonier Inc. during the three months ended March 31, 2025 and 2024, the incremental shares related to noncontrolling interests in Operating Partnership units were excluded from the denominator of diluted loss per share.
Basic (loss) 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, restricted stock units and contingently issuable shares and units.
The following table provides details of the calculations of basic (loss) earnings per unit of the Operating Partnership:
Three Months Ended March 31,
 20252024
Basic (loss) earnings per unit
Numerator:
Net loss from continuing operations($5,592)($4,510)
Less: Net loss from continuing operations attributable to NCI in consolidated affiliates— 10 
Net loss from continuing operations available to unitholders($5,592)($4,500)
Net income from discontinued operations, net of tax$2,507 $6,816 
Less: Net income from discontinued operations attributable to NCI in consolidated affiliates(385)(939)
Net income from discontinued operations available to unitholders$2,122 $5,877 
Net (loss) income($3,085)$2,306 
Less: Net income attributable to NCI in consolidated affiliates(385)(929)
Net (loss) income available to unitholders($3,470)$1,377 
Denominator:
Denominator for basic earnings per unit - weighted average units155,731,594 150,745,614 
Basic (loss) earnings per unit attributable to Rayonier, L.P.:
Continuing operations($0.04)($0.03)
Discontinued operations$0.01 $0.04 
Basic (loss) earnings per unit($0.02)$0.01 
The following table provides details of the calculations of diluted (loss) earnings per unit of the Operating Partnership:
Three Months Ended March 31,
 20252024
Diluted (loss) earnings per unit
Numerator:
Net loss from continuing operations($5,592)($4,510)
Less: Net loss from continuing operations attributable to NCI in consolidated affiliates— 10 
Net loss from continuing operations available to unitholders($5,592)($4,500)
Net income from discontinued operations, net of tax$2,507 $6,816 
Less: Net income from discontinued operations attributable to NCI in consolidated affiliates(385)(939)
Net income from discontinued operations available to unitholders$2,122 $5,877 
Net (loss) income($3,085)$2,306 
Less: Net income attributable to NCI in consolidated affiliates(385)(929)
Net (loss) income available to unitholders($3,470)$1,377 
Denominator:
Denominator for diluted earnings per unit - weighted average units (a)155,731,594 150,745,614 
Diluted (loss) earnings per unit attributable to Rayonier, L.P.:
Continuing operations($0.04)($0.03)
Discontinued operations$0.01 $0.04 
Diluted (loss) earnings per unit($0.02)$0.01 

Three Months Ended March 31,
20252024
Anti-dilutive unit equivalents excluded from the computations of diluted (loss) earnings per unit:
Stock options, performance shares, restricted shares, restricted stock units, and contingently issuable shares and units from special dividend (a)2,966,133 724,010 
(a)For the quarters ended March 31, 2025 and March 31, 2024, the effect of anti-dilutive securities related to stock options, performance shares, restricted shares, restricted stock units and contingently issuable shares and units from the special dividend were not included in the denominator of calculating diluted loss (earnings) per unit due to a loss from continuing operations.