XML 50 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
Statement of Comprehensive Income [Abstract]          
SALES $ 151,657 $ 149,829 $ 407,764 $ 456,161  
Costs and Expenses          
Cost of sales 116,044 118,088 326,966 357,083  
Selling and general expenses 10,689 8,806 34,315 35,904  
Other operating income, net (Note 18) (2,855) (9,144) (15,567) (20,908)  
Costs and Expenses, Total 123,878 117,750 345,714 372,079  
OPERATING INCOME 27,779 32,079 62,050 84,082  
Interest expense (7,581) (9,566) (24,608) (35,852)  
Interest income and miscellaneous expense, net (1,558) (1,734) (4,250) (7,131)  
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 18,640 20,779 33,192 41,099  
Income tax benefit 541 11,280 1,309 5,319  
INCOME FROM CONTINUING OPERATIONS 19,181 32,059 34,501 46,418  
DISCONTINUED OPERATIONS, NET (Note 2)          
Income from discontinued operations, net of income tax expense of $0, $0, $0 and $21,231 0 0 0 43,092  
NET INCOME 19,181 32,059 34,501 89,510 $ 97,846
Less: Net loss attributable to noncontrolling interest (488) (642) (1,379) (970)  
NET INCOME ATTRIBUTABLE TO RAYONIER INC. 19,669 32,701 35,880 90,480  
OTHER COMPREHENSIVE (LOSS) INCOME          
Foreign currency translation adjustment, net of income tax expense of $429 $0, $1,581 and $0 (13,370) (37,877) (53,087) (16,426) (15,847)
Cash flow hedges, net of income tax benefit of $185, $1,170, $1,687 and $1,270 (14,120) (3,494) (17,983) (2,703) $ (1,855)
Amortization of pension and postretirement plans, net of income tax expense of $66, $150, $404 and $37,025 890 2,265 2,414 63,235  
Total other comprehensive (loss) income (26,600) (39,106) (68,656) 44,106  
COMPREHENSIVE (LOSS) INCOME (7,419) (7,047) (34,155) 133,616  
Less: Comprehensive loss attributable to noncontrolling interest (5,363) (12,426) (18,884) (6,573)  
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC. $ (2,056) $ 5,379 $ (15,271) $ 140,189  
BASIC EARNINGS PER SHARE ATTRIBUTABLE TO RAYONIER INC.          
Continuing Operations (in dollars per share) $ 0.16 $ 0.26 $ 0.28 $ 0.38  
Discontinued Operations (in dollars per share) 0.00 0.00 0.00 0.34  
Net Income, Basic (in dollars per share) 0.16 0.26 0.28 0.72  
DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO RAYONIER INC.          
Continuing Operations (in dollars per share) 0.16 0.25 0.28 0.36  
Discontinued Operations, (in dollars per share) 0.00 0.00 0.00 0.33  
Net Income, Diluted (in dollars per share) 0.16 0.25 0.28 0.69  
Dividends declared (in dollars per share) $ 0.25 $ 0.80 $ 0.75 $ 1.78 $ 2.03