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Segment and Geographical Information | 12 Months Ended
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Dec. 31, 2015
Segment Reporting [Abstract] |
Segment and Geographical Information | SEGMENT AND GEOGRAPHICAL INFORMATION Rayonier operates in five reportable segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Company’s timber businesses are disaggregated into Southern Timber, Pacific Northwest Timber and New Zealand Timber segments. Sales in the Timber segments include all activities related to the harvesting of timber and other non-timber income activities such as the leasing of properties for hunting, mineral extraction and cell towers. Real Estate sales include all U.S. property sales, including those lands designated as higher and better use (HBU). The Company’s Real Estate sales categories include Improved Development, Unimproved Development, Rural and Non-Strategic / Timberlands. In the fourth quarter of 2015, the Company added a fifth sales category entitled “Large Dispositions.” This category includes sales of timberland that exceed $20 million in size and do not have any identified HBU premium relative to timberland value. Previously, these sales were reported as Non-Strategic / Timberlands. All prior period amounts have been presented to reflect the newly realigned sales categories. Improved development includes sales of development property for which Rayonier, through one of its taxable REIT subsidiaries, has invested in infrastructure to enhance the value and marketability of the property. The unimproved development sales category comprises properties sold for commercial, industrial or residential development purposes and for which Rayonier has not invested in improvements such as utilities or roads. The Trading segment comprises log trading in New Zealand, conducted by the Company’s New Zealand JV in two core areas of business, managed export services on behalf of third parties and procured logs for export sale by the New Zealand JV. The Trading segment complements the New Zealand Timber segment by adding scale and achieving cost savings that directly benefit the New Zealand Timber segment, and by contributing to income with minimal investment. Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. The Company evaluates financial performance based on segment operating income and Adjusted EBITDA. Asset information is not reported by segment, as the company does not produce asset information by segment internally. Operating income as presented in the Consolidated Statements of Income and Comprehensive Income is equal to segment income. Certain income (loss) items in the Consolidated Statements of Income and Comprehensive Income are not allocated to segments. These items, which include gains (losses) from certain asset dispositions, interest income (expense), miscellaneous income (expense) and income tax (expense) benefit, are not considered by management to be part of segment operations and are included under “Corporate and other.” Segment information for each of the three years ended December 31, 2015 follows:
| Sales
| 2015 |  | 2014 |  | 2013
Southern Timber |  | $139,093 |  |  |  | $141,833 |  |  |  | $123,804 |
Pacific Northwest Timber | 76,488 |  |  | 102,232 |  |  | 110,494 |
New Zealand Timber | 161,570 |  |  | 182,421 |  |  | 147,716 |
Real Estate (a) | 86,493 |  |  | 77,281 |  |  | 148,955 |
Trading | 81,230 |  |  | 103,678 |  |  | 131,711 |
Intersegment Eliminations | — |  |  | (3,924 | ) |  | (2,962 | )
Total |  | $544,874 |  |  |  | $603,521 |  |  |  | $659,718 |
(a) | 2013 included a fourth quarter sale of approximately 128,000 acres of New York timberlands for $57.3 million.
| Operating Income/(Loss)
| 2015 |  | 2014 |  | 2013
Southern Timber |  | $46,669 |  |  |  | $45,651 |  |  |  | $37,847 |
Pacific Northwest Timber | 6,917 |  |  | 29,539 |  |  | 32,669 |
New Zealand Timber | 2,775 |  |  | 9,474 |  |  | 10,566 |
Real Estate | 44,263 |  |  | 47,474 |  |  | 55,894 |
Trading | 1,247 |  |  | 1,687 |  |  | 1,823 |
Corporate and other (a) | (24,087 | ) |  | (35,536 | ) |  | (30,139 | )
Total Operating Income | 77,784 |  |  | 98,289 |  |  | 108,660 |
Unallocated interest expense and other | (34,702 | ) |  | (53,447 | ) |  | (38,502 | )
Total income from continuing operations before income taxes |  | $43,082 |  |  |  | $44,842 |  |  |  | $70,158 |
(a) | 2013 included a $16.2 million gain related to the consolidation of the New Zealand JV. See Note 7 — Joint Venture Investment.
| Gross Capital Expenditures
| 2015 |  | 2014 |  | 2013
Capital Expenditures (a) |  |  |  |  |
Southern Timber |  | $33,245 |  |  |  | $36,033 |  |  |  | $38,093 |
Pacific Northwest Timber | 8,515 |  |  | 9,742 |  |  | 8,404 |
New Zealand Timber | 15,143 |  |  | 17,344 |  |  | 16,030 |
Real Estate | 313 |  |  | 195 |  |  | 366 |
Trading | — |  |  | — |  |  | — |
Corporate and other | 77 |  |  | 399 |  |  | 310 |
Total capital expenditures |  | $57,293 |  |  |  | $63,713 |  |  |  | $63,203 |
Timberland Acquisitions |  |  |  |  |
Southern Timber |  | $54,408 |  |  |  | $125,650 |  |  |  | $20,364 |
Pacific Northwest Timber | 34,052 |  |  | 1,878 |  |  | — |
New Zealand Timber (b) | 9,949 |  |  | 923 |  |  | 139,879 |
Real Estate | — |  |  | 2,445 |  |  | 37 |
Trading | — |  |  | — |  |  | — |
Corporate and other | — |  |  | — |  |  | — |
Total timberland acquisitions |  | $98,409 |  |  |  | $130,896 |  |  |  | $160,280 |
Total Gross Capital Expenditures |  | $155,702 |  |  |  | $194,609 |  |  |  | $223,483 |
(a) | Excludes timberland acquisitions presented separately.
(b) | Includes $139.9 million related to the purchase price of the additional 39 percent JV interest acquired in 2013. See Note 7 — Joint Venture Investment for additional information.
| Depreciation, Depletion and Amortization
| 2015 |  | 2014 |  | 2013
Southern Timber |  | $54,299 |  |  |  | $52,307 |  |  |  | $49,402 |
Pacific Northwest Timber | 14,842 |  |  | 21,282 |  |  | 21,371 |
New Zealand Timber | 29,741 |  |  | 32,161 |  |  | 27,650 |
Real Estate | 14,533 |  |  | 13,355 |  |  | 17,365 |
Trading | — |  |  | — |  |  | — |
Corporate and other | 293 |  |  | 875 |  |  | 1,066 |
Total |  | $113,708 |  |  |  | $119,980 |  |  |  | $116,854 |
| Non-Cash Cost of Land and Real Estate Sold
| 2015 |  | 2014 |  | 2013
Southern Timber | — |  |  | — |  |  | — |
Pacific Northwest Timber | — |  |  | — |  |  | — |
New Zealand Timber | 467 |  |  | 4,328 |  |  | — |
Real Estate | 12,042 |  |  | 8,936 |  |  | 10,212 |
Trading | — |  |  | — |  |  | — |
Corporate and other | — |  |  | — |  |  | — |
Total |  | $12,509 |  |  |  | $13,264 |  |  |  | $10,212 |
| Sales by Product Line
| 2015 |  | 2014 |  | 2013
Southern Timber |  | $139,093 |  |  |  | $141,833 |  |  |  | $123,804 |
Pacific Northwest Timber | 76,488 |  |  | 102,232 |  |  | 110,494 |
New Zealand Timber | 161,570 |  |  | 182,421 |  |  | 147,716 |
Real Estate |  |  |  |  |
Improved Development | 2,610 |  |  | — |  |  | 1,568 |
Unimproved Development | 6,399 |  |  | 4,794 |  |  | 2,839 |
Rural | 22,653 |  |  | 40,954 |  |  | 27,471 |
Non-Strategic / Timberlands | 54,831 |  |  | 9,533 |  |  | 37,049 |
Large Dispositions (a) | — |  |  | 22,000 |  |  | 80,028 |
Total Real Estate | 86,493 |  |  | 77,281 |  |  | 148,955 |
Trading | 81,230 |  |  | 103,678 |  |  | 131,711 |
Intersegment eliminations | — |  |  | (3,924 | ) |  | (2,962 | )
Total Sales |  | $544,874 |  |  |  | $603,521 |  |  |  | $659,718 |
(a) | 2013 included a fourth quarter sale of approximately 128,000 acres of New York timberlands for $57.3 million.
| Geographical Operating Information
| Sales |  | Operating Income |  | Identifiable Assets
| 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014
United States |  | $302,074 |  |  |  | $317,422 |  |  |  | $380,575 |  |  |  | $73,749 |  |  |  | $87,116 |  |  |  | $80,158 |  |  |  | $1,826,462 |  |  |  | $1,884,585 |
New Zealand (a) | 242,800 |  |  | 286,099 |  |  | 279,143 |  |  | 4,035 |  |  | 11,173 |  |  | 28,502 |  |  | 492,801 |  |  | 568,530 |
Total |  | $544,874 |  |  |  | $603,521 |  |  |  | $659,718 |  |  |  | $77,784 |  |  |  | $98,289 |  |  |  | $108,660 |  |  |  | $2,319,263 |  |  |  | $2,453,115 |
(a) | 2013 included a $16.2 million operating income gain from the consolidation of the New Zealand JV. See Note 7 — Joint Venture Investment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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