XML 28 R15.htm IDEA: XBRL DOCUMENT
v3.4.0.3

INCOME TAXES | 3 Months Ended
--- | ---
Mar. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES The operations conducted by the Company’s real estate investment trust (“REIT”) entities are generally not subject to U.S. federal and state income tax. The New Zealand JV is subject to corporate level tax in New Zealand. Non-REIT qualifying operations are conducted by the Company’s taxable REIT subsidiaries (“TRS”). The primary businesses performed in Rayonier’s taxable REIT subsidiaries include log trading and certain real estate activities, such as the sale and entitlement of development HBU properties. Provision for Income Taxes The Company’s effective tax rate is below the 35.0% U.S. statutory rate due to tax benefits associated with being a REIT. The income tax benefits for the three months ended March 31, 2016 and 2015 are principally related to the New Zealand JV. The table below reconciles the U.S. statutory rate to the Company’s effective tax rate for each period presented:
| Three Months Ended March 31,
| 2016 |  | 2015
Income tax expense at federal statutory rate |  | ($4,997 | ) |  | 35.0 | % |  |  | ($6,198 | ) |  | 35.0 | %
U.S. and foreign REIT income & U.S. TRS taxable losses | 4,360 |  |  | (30.6 | ) |  | 7,502 |  |  | (42.4 | )
Foreign TRS operations | 117 |  |  | (0.8 | ) |  | 1,137 |  |  | (6.4 | )
U.S. net deferred tax asset valuation allowance | (452 | ) |  | 3.2 |  |  | (1,812 | ) |  | 10.2 |
Other | (80 | ) |  | 0.6 |  |  | (158 | ) |  | 0.9 |
Income tax (expense) benefit before discrete items |  | ($1,052 | ) |  | 7.4 | % |  |  | $471 |  |  | (2.7 | )%
Tax benefit recognized related to changes in the New Zealand JV deferred tax inventory | 1,833 |  |  | (12.9 | ) |  | — |  |  | — |
Income tax benefit as reported |  | $781 |  |  | (5.5 | )% |  |  | $471 |  |  | (2.7 | )%

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration