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Earnings Per Common Share (Notes) | 3 Months Ended
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Mar. 31, 2012
Earnings Per Share [Abstract] |
Earnings Per Common Share [Text Block] |
2. | EARNINGS PER COMMON SHARE
The impact of the August 24, 2011 three-for-two stock split is reflected for all periods presented in the following table which provides details of the calculations of basic and diluted earnings per common share:
| Three Months Ended March 31,
| 2012 |  | 2011
Net income | $ | 53,437 |  |  | $ | 58,412 |
Shares used for determining basic earnings per common share | 122,352,435 |  |  | 121,420,046 |
Dilutive effect of: |  |  |
Stock options | 719,166 |  |  | 715,043 |
Performance and restricted shares | 651,729 |  |  | 697,691 |
Assumed conversion of Senior Exchangeable Notes (a) (b) | 2,967,187 |  |  | 1,462,679 |
Assumed conversion of warrants (b) | 1,241,612 |  |  | — |
Shares used for determining diluted earnings per common share | 127,932,129 |  |  | 124,295,459 |
Basic earnings per common share | $ | 0.44 |  |  | $ | 0.48 |
Diluted earnings per common share | $ | 0.42 |  |  | $ | 0.47 |
| Three Months Ended March 31,
| 2012 |  | 2011
Anti-dilutive shares excluded from the computations of diluted earnings per share: |  |  |
Stock options, performance and restricted shares | 445,859 |  |  | 196,964 |
Assumed conversion of exchangeable note hedges (a) | 2,967,187 |  |  | 1,462,679 |
Total | 3,413,046 |  |  | 1,659,643 |
(a) Upon maturity of the Senior Exchangeable Notes (the "Notes"), Rayonier will not issue additional shares for the Notes due to the offsetting exchangeable note hedges (the "hedges"). However, Accounting Standards Codification 260, Earnings Per Share requires the assumed conversion of the Notes to be included in dilutive shares if the average stock price for the period exceeds the strike prices, while the assumed conversion of the hedges are excluded since they are anti-dilutive. Rayonier will distribute additional shares upon maturity of the warrants if the stock price exceeds the strike prices of $41.78 for the Notes due 2012 and $39.85 for the Notes due 2015. For additional information on the potential dilutive impact of the Senior Exchangeable Notes, warrants and exchangeable note hedges, see Note 11 — Debt in the 2011 Annual Report on Form 10-K and Note 13 — Debt of this Form 10-Q. (b) The higher shares used for determining earnings per common share was primarily due to an increase in the average stock price from $39.71 in first quarter 2011 to $45.07 in first quarter 2012.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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