XML 19 R4.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Total cash and cash equivalents $ 82,620 $ 84,507
Accounts receivable, less allowance for doubtful accounts of $45 and $25 51,902 49,082
Inventory 24,993 10,594
Prepaid expenses 18,280 16,168
Assets held for sale 7,930 3,449
Other current assets 4,355 6,765
Total current assets 190,080 170,565
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 3,245,122 3,262,126
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS 111,315 108,518
PROPERTY, PLANT AND EQUIPMENT    
Land 6,569 6,548
Buildings 30,979 31,024
Machinery and equipment 4,395 4,615
Construction in progress 471 452
Total property, plant and equipment, gross 42,414 42,639
Less — accumulated depreciation (12,700) (12,238)
Total property, plant and equipment, net 29,714 30,401
RESTRICTED CASH 475 2,975
RIGHT-OF-USE ASSETS 105,146 108,992
OTHER ASSETS 67,732 45,156
TOTAL ASSETS 3,749,584 3,728,733
CURRENT LIABILITIES    
Accounts payable 35,083 24,790
Accrued taxes 8,317 7,347
Accrued payroll and benefits 6,094 12,327
Accrued interest 9,627 6,325
Deferred revenue 8,137 11,112
Other current liabilities 33,587 29,234
Total current liabilities 100,845 91,135
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,359,400  
PENSION AND OTHER POSTRETIREMENT BENEFITS 22,958 23,344
LONG-TERM LEASE LIABILITY 96,872 100,251
OTHER NON-CURRENT LIABILITIES 121,598 160,722
COMMITMENTS AND CONTINGENCIES
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 4,428,900 and 4,428,900 Common Units outstanding, respectively 137,990 130,121
SHAREHOLDERS’ EQUITY    
Common stock 1,146,265 1,101,675
Retained earnings 407,716 446,267
Accumulated other comprehensive loss (25,146) (73,885)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,528,835 1,474,057
Noncontrolling interests in consolidated affiliates 381,086 388,588
TOTAL SHAREHOLDERS’ EQUITY 1,909,921 1,862,645
CAPITAL    
Accumulated other comprehensive loss (25,146) (73,885)
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 3,749,584 3,728,733
Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 77,946 80,454
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,299,433 1,300,336
Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 4,674 4,053
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 59,967 60,179
Rayonier Limited Partnership    
CURRENT ASSETS    
Total cash and cash equivalents 82,620 84,507
Accounts receivable, less allowance for doubtful accounts of $45 and $25 51,902 49,082
Inventory 24,993 10,594
Prepaid expenses 18,280 16,168
Assets held for sale 7,930 3,449
Other current assets 4,355 6,765
Total current assets 190,080 170,565
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 3,245,122 3,262,126
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS 111,315 108,518
PROPERTY, PLANT AND EQUIPMENT    
Land 6,569 6,548
Buildings 30,979 31,024
Machinery and equipment 4,395 4,615
Construction in progress 471 452
Total property, plant and equipment, gross 42,414 42,639
Less — accumulated depreciation (12,700) (12,238)
Total property, plant and equipment, net 29,714 30,401
RESTRICTED CASH 475 2,975
RIGHT-OF-USE ASSETS 105,146 108,992
OTHER ASSETS 67,732 45,156
TOTAL ASSETS 3,749,584 3,728,733
CURRENT LIABILITIES    
Accounts payable 35,083 24,790
Accrued taxes 8,317 7,347
Accrued payroll and benefits 6,094 12,327
Accrued interest 9,627 6,325
Deferred revenue 8,137 11,112
Other current liabilities 33,587 29,234
Total current liabilities 100,845 91,135
PENSION AND OTHER POSTRETIREMENT BENEFITS 22,958 23,344
LONG-TERM LEASE LIABILITY 96,872 100,251
OTHER NON-CURRENT LIABILITIES 121,598 160,722
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 4,428,900 and 4,428,900 Common Units outstanding, respectively 137,990 130,121
SHAREHOLDERS’ EQUITY    
Accumulated other comprehensive loss (21,075) (71,345)
CAPITAL    
General partners’ capital 15,499 15,454
Limited partners’ capital 1,534,411 1,529,948
Accumulated other comprehensive loss (21,075) (71,345)
TOTAL CONTROLLING INTEREST CAPITAL 1,528,835 1,474,057
Noncontrolling interests in consolidated affiliates 381,086 388,588
TOTAL CAPITAL 1,909,921 1,862,645
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 3,749,584 3,728,733
Rayonier Limited Partnership | Excluding Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 77,946 80,454
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 1,299,433 1,300,336
Rayonier Limited Partnership | Timber Funds    
CURRENT ASSETS    
Total cash and cash equivalents 4,674 4,053
CURRENT LIABILITIES    
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS $ 59,967 $ 60,179