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Quarterly Results for 2017 and 2016 (UNAUDITED) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results for 2017 and 2016 (UNAUDITED) | QUARTERLY RESULTS FOR 2017 and 2016 (UNAUDITED) (thousands of dollars, except per share amounts)
| Quarter Ended |  | Total Year
| Mar. 31 |  | June 30 |  | Sept. 30 |  | Dec. 31 |
2017 |  |  |  |  |  |  |  |  |
Sales |  | $194,491 |  |  |  | $200,964 |  |  |  | $184,419 |  |  |  | $239,722 |  |  |  | $819,596 |
Cost of sales | 136,828 |  |  | 144,610 |  |  | 136,983 |  |  | 149,832 |  |  | 568,253 |
Net Income | 35,083 |  |  | 30,773 |  |  | 28,803 |  |  | 66,920 |  |  | 161,579 |
Net Income attributable to Rayonier Inc. | 33,843 |  |  | 26,161 |  |  | 24,688 |  |  | 64,150 |  |  | 148,842 |
Basic EPS attributable to Rayonier Inc. |  | $0.27 |  |  |  | $0.20 |  |  |  | $0.19 |  |  |  | $0.50 |  |  |  | $1.17 |
Diluted EPS attributable to Rayonier Inc. |  | $0.27 |  |  |  | $0.20 |  |  |  | $0.19 |  |  |  | $0.50 |  |  |  | $1.16 |
2016 |  |  |  |  |  |  |  |  |
Sales |  | $140,575 |  |  |  | $269,171 |  |  |  | $176,867 |  |  |  | $229,302 |  |  |  | $815,915 |
Cost of sales | 108,447 |  |  | 138,480 |  |  | 116,922 |  |  | 162,590 |  |  | 526,439 |
Net Income | 15,058 |  |  | 111,579 |  |  | 40,624 |  |  | 50,509 |  |  | 217,770 |
Net Income attributable to Rayonier Inc. | 14,472 |  |  | 109,821 |  |  | 39,355 |  |  | 48,324 |  |  | 211,972 |
Basic EPS attributable to Rayonier Inc. |  | $0.12 |  |  |  | $0.90 |  |  |  | $0.32 |  |  |  | $0.39 |  |  |  | $1.73 |
Diluted EPS attributable to Rayonier Inc. |  | $0.12 |  |  |  | $0.89 |  |  |  | $0.32 |  |  |  | $0.39 |  |  |  | $1.73 |
In an effort to report certain revenue and expenses in a manner more representative of activities that constitute ongoing central operations, the Company has changed its classification of non-timber income, including lease and license income, carbon credit sales, log agency fees and other non-timber income, net of costs, from “Other Operating Income, Net” to “Sales” and “Cost of Sales.” This reclassification was applied retrospectively to all periods presented. For additional information on this classification change see Note 2 — Summary of Significant Accounting Policies. See table below for 2017 amounts prior to reclassification and 2016 amounts historically presented:
| Quarter Ended |  | Total Year
| Mar. 31 |  | June 30 |  | Sept. 30 |  | Dec. 31 |
2017 |  |  |  |  |  |  |  |  |
Sales |  | $186,512 |  |  |  | $194,719 |  |  |  | $177,946 |  |  |  | $233,482 |  |  |  | $792,659 |
Cost of sales | 136,413 |  |  | 143,687 |  |  | 136,583 |  |  | 149,206 |  |  | 565,889 |
2016 |  |  |  |  |  |  |  |  |
Sales |  | $134,843 |  |  |  | $261,550 |  |  |  | $171,421 |  |  |  | $220,464 |  |  |  | $788,278 |
Cost of sales | 107,971 |  |  | 138,194 |  |  | 116,624 |  |  | 161,918 |  |  | 524,707 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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