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EARNINGS PER SHARE AND PER UNIT | 6 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
EARNINGS PER SHARE AND PER UNIT | EARNINGS PER SHARE AND PER UNIT The following table provides details of the calculations of basic and diluted earnings per common share of the Company:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Earnings per common share - basic |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income | $63,420 |  |  | $455 |  |  | $78,452 |  |  | $26,876 |
Less: Net income attributable to noncontrolling interests in the Operating Partnership | (1,753) |  |  | (219) |  |  | (2,094) |  |  | (219) |
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates | (4,461) |  |  | 1,499 |  |  | (8,304) |  |  | 931 |
Net income attributable to Rayonier Inc. | $57,206 |  |  | $1,735 |  |  | $68,054 |  |  | $27,588 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per common share - weighted average shares | 139,556,748 |  |  | 133,318,209 |  |  | 138,718,442 |  |  | 131,227,852 |
Basic earnings per common share attributable to Rayonier Inc.: | $0.41 |  |  | $0.01 |  |  | $0.49 |  |  | $0.21 |
Earnings per common share - diluted |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income | $63,420 |  |  | $455 |  |  | $78,452 |  |  | $26,876 |
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates | (4,461) |  |  | 1,499 |  |  | (8,304) |  |  | 931 |
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership | $58,959 |  |  | $1,954 |  |  | $70,148 |  |  | $27,807 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per common share - weighted average shares | 139,556,748 |  |  | 133,318,209 |  |  | 138,718,442 |  |  | 131,227,852 |
Add: Dilutive effect of: |  |  |  |  |  |  |
Stock options | 12,646 |  |  | — |  |  | 8,348 |  |  | 537 |
Performance shares, restricted shares and restricted stock units | 210,923 |  |  | 49,299 |  |  | 282,027 |  |  | 129,390 |
Noncontrolling interests in Redeemable Operating Partnership units | 4,275,912 |  |  | 2,589,518 |  |  | 4,303,201 |  |  | 1,294,759 |
Denominator for diluted earnings per common share - adjusted weighted average shares | 144,056,229 |  |  | 135,957,026 |  |  | 143,312,018 |  |  | 132,652,538 |
Diluted earnings per common share attributable to Rayonier Inc.: | $0.41 |  |  | $0.01 |  |  | $0.49 |  |  | $0.21 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Anti-dilutive shares excluded from the computations of diluted earnings per common share: |  |  |  |  |  |  |
Stock options, performance shares, restricted shares and restricted stock units | 208,614 |  |  | 635,779 |  |  | 201,435 |  |  | 521,053 |
Total | 208,614 |  |  | 635,779 |  |  | 201,435 |  |  | 521,053 |
The following table provides details of the calculations of basic and diluted earnings per unit of the Operating Partnership:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Earnings per unit - basic |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income | $63,420 |  |  | $455 |  |  | $78,452 |  |  | $26,876 |
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates | (4,461) |  |  | 1,499 |  |  | (8,304) |  |  | 931 |
Net income available to unitholders | $58,959 |  |  | $1,954 |  |  | $70,148 |  |  | $27,807 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per unit - weighted average units | 143,832,660 |  |  | 135,907,727 |  |  | 143,021,643 |  |  | 132,522,611 |
Basic earnings per unit attributable to Rayonier, L.P.: | $0.41 |  |  | $0.01 |  |  | $0.49 |  |  | $0.21 |
Earnings per unit - diluted |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income | $63,420 |  |  | $455 |  |  | $78,452 |  |  | $26,876 |
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates | (4,461) |  |  | 1,499 |  |  | (8,304) |  |  | 931 |
Net income available to unitholders | $58,959 |  |  | $1,954 |  |  | $70,148 |  |  | $27,807 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per unit - weighted average units | 143,832,660 |  |  | 135,907,727 |  |  | 143,021,643 |  |  | 132,522,611 |
Add: Dilutive effect of unit equivalents: |  |  |  |  |  |  |
Stock options | 12,646 |  |  | — |  |  | 8,348 |  |  | 537 |
Performance shares, restricted shares and restricted stock units | 210,923 |  |  | 49,299 |  |  | 282,027 |  |  | 129,390 |
Denominator for diluted earnings per unit - adjusted weighted average units | 144,056,229 |  |  | 135,957,026 |  |  | 143,312,018 |  |  | 132,652,538 |
Diluted earnings per unit attributable to Rayonier, L.P.: | $0.41 |  |  | $0.01 |  |  | $0.49 |  |  | $0.21 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit: |  |  |  |  |  |  |
Stock options, performance shares, restricted shares and restricted stock units | 208,614 |  |  | 635,779 |  |  | 201,435 |  |  | 521,053 |
Total | 208,614 |  |  | 635,779 |  |  | 201,435 |  |  | 521,053 |

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