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RAYONIER, L.P. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
SALES (NOTE 4) $ 106,538 $ 99,639 $ 189,459 $ 213,343
Costs and Expenses        
Cost of sales (74,906) (74,300) (139,858) (160,423)
Selling and general expenses (16,922) (20,609) (33,613) (39,589)
Other operating expense, net (Note 15) (165) (183) (1,384) (152)
Costs and expenses (91,993) (95,092) (174,855) (200,164)
OPERATING INCOME 14,545 4,547 14,604 13,179
Interest expense, net (6,542) (9,029) (12,936) (17,977)
Interest income 2,327 1,759 5,203 3,654
Other miscellaneous expense, net (561) (1,173) (2,404) (8,253)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 9,769 (3,896) 4,467 (9,397)
Income tax (expense) benefit (Note 16) 0 0 (291) 991
INCOME (LOSS) FROM CONTINUING OPERATIONS 9,769 (3,896) 4,176 (8,406)
(Loss) income from operations of discontinued operations, net of tax (625) 6,931 1,883 13,747
Gain on sale of discontinued operations 404,463 0 404,463 0
INCOME FROM DISCONTINUED OPERATIONS 403,838 6,931 406,346 13,747
NET INCOME 413,607 3,035 410,522 5,341
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates 577 (1,106) 192 (2,035)
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 408,708 1,903 405,284 3,260
OTHER COMPREHENSIVE INCOME (LOSS)        
Pension and postretirement benefit plans, net of income tax expense of $0 and $1,222 (2)      
Foreign currency translation adjustment, net of income tax effect of $0 and $0 16,842 6,014    
Total other comprehensive (loss) income 47,308 6,212 43,893 1,789
COMPREHENSIVE INCOME 460,915 9,247 454,415 7,130
Less: Comprehensive income attributable to noncontrolling interests in consolidated affiliates (1,707) (1,920) (2,605) (972)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $ 453,137 $ 7,227 $ 445,837 $ 6,075
BASIC EARNINGS (LOSS) PER UNIT ATTRIBUTABLE TO RAYONIER L.P.        
Continuing operations (in dollars per share) $ 0.06 $ (0.03) $ 0.03 $ (0.06)
Discontinued operations (in dollars per share) 2.57 0.04 2.59 0.08
Net Income (in dollars per share) 2.63 0.01 2.62 0.02
DILUTED EARNINGS (LOSS) PER UNIT ATTRIBUTABLE TO RAYONIER L.P.        
Continuing operations (in dollars per share) 0.06 (0.03) 0.03 (0.06)
Discontinued operations (in dollars per share) 2.56 0.04 2.57 0.08
Net Income (in dollars per share) $ 2.63 $ 0.01 $ 2.60 $ 0.02
Continuing Operations        
OTHER COMPREHENSIVE INCOME (LOSS)        
Cash flow hedges $ (5,968) $ (2,097) $ (14,727) $ 5,666
Pension and postretirement benefit plans, net of income tax expense of $0 and $1,222 (2) 0 (3) 9,562
Discontinued Operations        
OTHER COMPREHENSIVE INCOME (LOSS)        
Cash flow hedges 7,368 2,295 9,080 (2,502)
Foreign currency translation adjustment, net of income tax effect of $0 and $0 16,842 6,014 20,475 (10,937)
Deconsolidation of discontinued operations, net of income tax effect of $0, $0, $0 and $0 29,068 0 29,068 0
Rayonier Limited Partnership        
SALES (NOTE 4) 106,538 99,639 189,459 213,343
Costs and Expenses        
Cost of sales (74,906) (74,300) (139,858) (160,423)
Selling and general expenses (16,922) (20,609) (33,613) (39,589)
Other operating expense, net (Note 15) (165) (183) (1,384) (152)
Costs and expenses (91,993) (95,092) (174,855) (200,164)
OPERATING INCOME 14,545 4,547 14,604 13,179
Interest expense, net (6,542) (9,029) (12,936) (17,977)
Interest income 2,327 1,759 5,203 3,654
Other miscellaneous expense, net (561) (1,173) (2,404) (8,253)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 9,769 (3,896) 4,467 (9,397)
Income tax (expense) benefit (Note 16) 0 0 (291) 991
INCOME (LOSS) FROM CONTINUING OPERATIONS 9,769 (3,896) 4,176 (8,406)
(Loss) income from operations of discontinued operations, net of tax (625) 6,931 1,883 13,747
Gain on sale of discontinued operations 404,463 0 404,463 0
INCOME FROM DISCONTINUED OPERATIONS 403,838 6,931 406,346 13,747
NET INCOME 413,607 3,035 410,522 5,341
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates 577 (1,106) 192 (2,035)
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 414,184 1,929 410,714 3,306
OTHER COMPREHENSIVE INCOME (LOSS)        
Pension and postretirement benefit plans, net of income tax expense of $0 and $1,222 (2)      
Foreign currency translation adjustment, net of income tax effect of $0 and $0 16,842 6,014    
Total other comprehensive (loss) income 47,308 6,212 43,893 1,789
COMPREHENSIVE INCOME 460,915 9,247 454,415 7,130
Less: Comprehensive income attributable to noncontrolling interests in consolidated affiliates (1,707) (1,920) (2,605) (972)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $ 459,208 $ 7,327 $ 451,810 $ 6,158
BASIC EARNINGS (LOSS) PER UNIT ATTRIBUTABLE TO RAYONIER L.P.        
Continuing operations (in dollars per share) $ 0.06 $ (0.03) $ 0.03 $ (0.06)
Discontinued operations (in dollars per share) 2.57 0.04 2.59 0.08
Net Income (in dollars per share) 2.63 0.01 2.62 0.02
DILUTED EARNINGS (LOSS) PER UNIT ATTRIBUTABLE TO RAYONIER L.P.        
Continuing operations (in dollars per share) 0.06 (0.03) 0.03 (0.06)
Discontinued operations (in dollars per share) 2.56 0.04 2.57 0.08
Net Income (in dollars per share) $ 2.63 $ 0.01 $ 2.60 $ 0.02
Rayonier Limited Partnership | Continuing Operations        
OTHER COMPREHENSIVE INCOME (LOSS)        
Cash flow hedges $ (5,968) $ (2,097) $ (14,727) $ 5,666
Pension and postretirement benefit plans, net of income tax expense of $0 and $1,222 (2) 0 (3) 9,562
Rayonier Limited Partnership | Discontinued Operations        
OTHER COMPREHENSIVE INCOME (LOSS)        
Cash flow hedges 7,368 2,295 9,080 (2,502)
Foreign currency translation adjustment, net of income tax effect of $0 and $0 16,842 6,014 20,475 (10,937)
Deconsolidation of discontinued operations, net of income tax effect of $0, $0, $0 and $0 29,068 0 29,068 0
Rayonier Limited Partnership | Limited Partners        
Costs and Expenses        
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 410,042 1,910 406,607 3,273
Rayonier Limited Partnership | General Partners        
Costs and Expenses        
NET INCOME ATTRIBUTABLE TO RAYONIER INC. $ 4,142 $ 19 $ 4,107 $ 33