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Earnings Per Common Share (Notes) | 12 Months Ended
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Dec. 31, 2012
Earnings Per Share [Abstract] |
Earnings Per Common Share [Text Block] |
9. | EARNINGS PER COMMON SHARE
Basic earnings per share ("EPS") is calculated by dividing net income by the weighted average number of common shares outstanding during the year. Diluted EPS is calculated by dividing net income by the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of outstanding stock options, performance shares, restricted shares and convertible debt. The following table provides details of the calculation of basic and diluted EPS for the three years ended December 31:
| 2012 |  | 2011 |  | 2010
Net income | $ | 278,685 |  |  | $ | 276,005 |  |  | $ | 217,586 |
Shares used for determining basic earnings per common share | 122,711,802 |  |  | 121,662,985 |  |  | 120,240,275 |
Dilutive effect of: |  |  |  |  |
Stock options | 634,218 |  |  | 702,693 |  |  | 593,768 |
Performance and restricted shares | 757,308 |  |  | 982,951 |  |  | 1,034,319 |
Assumed conversion of Senior Exchangeable Notes (a) | 2,888,650 |  |  | 1,895,762 |  |  | — |
Assumed conversion of warrants (a) | 1,710,445 |  |  | 149,900 |  |  | — |
Shares used for determining diluted earnings per common share | 128,702,423 |  |  | 125,394,291 |  |  | 121,868,362 |
Basic earnings per common share | $ | 2.27 |  |  | $ | 2.27 |  |  | $ | 1.81 |
Diluted earnings per common share | $ | 2.17 |  |  | $ | 2.20 |  |  | $ | 1.79 |
| 2012 |  | 2011 |  | 2010
Anti-dilutive shares excluded from the computations of diluted earnings per share: |  |  |  |  |
Stock options, performance and restricted shares | 224,918 |  |  | 161,786 |  |  | 308,421 |
Assumed conversion of exchangeable note hedges (a) | 2,888,650 |  |  | 1,895,762 |  |  | — |
Total | 3,113,568 |  |  | 2,057,548 |  |  | 308,421 |
(a) | The Senior Exchangeable Notes due 2012 (the “2012 Notes”) matured in October 2012; however, no additional shares were issued due to the offsetting exchangeable note hedges (the “hedges”). Similarly, Rayonier will not issue additional shares upon maturity of the Senior Exchangeable Notes due 2015 (the “2015 Notes”) due to the offsetting hedges. 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 is excluded since they are anti-dilutive. As such, the dilutive effect of the assumed conversion of the Senior Exchangeable Notes was included through the retirement date for the 2012 Notes and the full year for the 2015 Notes. Rayonier will distribute additional shares upon maturity of the warrants if the stock price exceeds the strike prices of $41.41 for the Notes due 2012 and $39.50 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.

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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=7655603&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=16381557&loc=d3e4984-109258 Reference 3: 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 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=7655603&loc=d3e1278-109256 Reference 5: 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 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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