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EARNINGS PER SHARE AND PER UNIT | 6 Months Ended
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Jun. 30, 2023
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,
| 2023 |  | 2022 |  | 2023 |  | 2022
Earnings per common share - basic |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income | $19,096 |  |  | $25,287 |  |  | $26,534 |  |  | $56,286 |
Less: Net income attributable to noncontrolling interests in the operating partnership | (318) |  |  | (546) |  |  | (492) |  |  | (1,214) |
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates | 245 |  |  | (637) |  |  | 1,281 |  |  | (1,650) |
Net income attributable to Rayonier Inc. | $19,023 |  |  | $24,104 |  |  | $27,323 |  |  | $53,422 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per common share - weighted average shares | 148,218,436 |  |  | 146,257,311 |  |  | 147,800,265 |  |  | 145,846,026 |
Basic earnings per common share attributable to Rayonier Inc.: | $0.13 |  |  | $0.16 |  |  | $0.18 |  |  | $0.37 |
Earnings per common share - diluted |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income | $19,096 |  |  | $25,287 |  |  | $26,534 |  |  | $56,286 |
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates | 245 |  |  | (637) |  |  | 1,281 |  |  | (1,650) |
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the operating partnership | $19,341 |  |  | $24,650 |  |  | $27,815 |  |  | $54,636 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per common share - weighted average shares | 148,218,436 |  |  | 146,257,311 |  |  | 147,800,265 |  |  | 145,846,026 |
Add: Dilutive effect of: |  |  |  |  |  |  |
Stock options | — |  |  | 8,100 |  |  | 943 |  |  | 7,664 |
Performance shares, restricted shares and restricted stock units | 269,994 |  |  | 666,653 |  |  | 441,204 |  |  | 730,773 |
Noncontrolling interests in operating partnership units | 2,476,761 |  |  | 3,312,315 |  |  | 2,785,928 |  |  | 3,313,543 |
Denominator for diluted earnings per common share - adjusted weighted average shares | 150,965,191 |  |  | 150,244,379 |  |  | 151,028,340 |  |  | 149,898,006 |
Diluted earnings per common share attributable to Rayonier Inc.: | $0.13 |  |  | $0.16 |  |  | $0.18 |  |  | $0.36 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Anti-dilutive shares excluded from the computations of diluted earnings per common share: |  |  |  |  |  |  |
Stock options, performance shares, restricted shares and restricted stock units | 241,316 |  |  | 109,515 |  |  | 152,992 |  |  | 54,884 |
Total | 241,316 |  |  | 109,515 |  |  | 152,992 |  |  | 54,884 |
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,
| 2023 |  | 2022 |  | 2023 |  | 2022
Earnings per unit - basic |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income | $19,096 |  |  | $25,287 |  |  | $26,534 |  |  | $56,286 |
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates | 245 |  |  | (637) |  |  | 1,281 |  |  | (1,650) |
Net income available to unitholders | $19,341 |  |  | $24,650 |  |  | $27,815 |  |  | $54,636 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per unit - weighted average units | 150,695,197 |  |  | 149,569,626 |  |  | 150,586,193 |  |  | 149,159,569 |
Basic earnings per unit attributable to Rayonier, L.P.: | $0.13 |  |  | $0.16 |  |  | $0.18 |  |  | $0.37 |
Earnings per unit - diluted |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income | $19,096 |  |  | $25,287 |  |  | $26,534 |  |  | $56,286 |
Less: Net loss (income) attributable to noncontrolling interests in consolidated affiliates | 245 |  |  | (637) |  |  | 1,281 |  |  | (1,650) |
Net income available to unitholders | $19,341 |  |  | $24,650 |  |  | $27,815 |  |  | $54,636 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per unit - weighted average units | 150,695,197 |  |  | 149,569,626 |  |  | 150,586,193 |  |  | 149,159,569 |
Add: Dilutive effect of unit equivalents: |  |  |  |  |  |  |
Stock options | — |  |  | 8,100 |  |  | 943 |  |  | 7,664 |
Performance shares, restricted shares and restricted stock units | 269,994 |  |  | 666,653 |  |  | 441,204 |  |  | 730,773 |
Denominator for diluted earnings per unit - adjusted weighted average units | 150,965,191 |  |  | 150,244,379 |  |  | 151,028,340 |  |  | 149,898,006 |
Diluted earnings per unit attributable to Rayonier, L.P.: | $0.13 |  |  | $0.16 |  |  | $0.18 |  |  | $0.36 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit: |  |  |  |  |  |  |
Stock options, performance shares, restricted shares and restricted stock units | 241,316 |  |  | 109,515 |  |  | 152,992 |  |  | 54,884 |
Total | 241,316 |  |  | 109,515 |  |  | 152,992 |  |  | 54,884 |

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