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DISCONTINUED OPERATIONS | 3 Months Ended
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Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | DISCONTINUED OPERATIONS On June 30, 2025, we completed the sale of our entire 77% interest in our New Zealand operations to Taurus Forest Holdings Limited for a purchase price of $710 million, resulting in net proceeds of $699.3 million and a gain on disposal of $404.5 million. The results of the New Zealand Timber segment and the New Zealand portion of the Real Estate, former Trading and Corporate segments are classified as discontinued operations in the Consolidated Statements of Income and Comprehensive Income (Loss) for all periods presented. There was no activity related to the discontinued operations during the three months ended March 31, 2026. Following the closing, we have no significant continuing involvement with the divested operations. See Note 2 to the Consolidated Financial Statements in our 2025 Form 10-K for additional information. The following table summarizes the results of our New Zealand operations for the three months ended March 31, 2026 and 2025, as presented in “Income from operations of discontinued operations, net of tax” in the Consolidated Statements of Income and Comprehensive Income (Loss):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2026 |  | 2025
Sales |  |  |  |  | — |  |  | $56,760 |
Costs and Expenses |  |  |  |  |  |  |
Cost of sales |  |  |  |  | — |  |  | (50,589) |
Other operating expense, net (a) |  |  |  |  | — |  |  | (1,622) |
|  |  |  |  | — |  |  | (52,211) |
Operating income from discontinued operations |  |  |  |  | — |  |  | 4,549 |
Interest expense, net |  |  |  |  | — |  |  | (728) |
Interest income |  |  |  |  | — |  |  | 98 |
Income from operations of discontinued operations before income taxes |  |  |  |  | — |  |  | 3,919 |
Income tax expense |  |  |  |  | — |  |  | (1,412) |
Income from operations of discontinued operations, net of tax |  |  |  |  | — |  |  | 2,507 |
Less: Net income from discontinued operations attributable to noncontrolling interests in the Operating Partnership |  |  |  |  | — |  |  | (28) |
Less: Net income from discontinued operations attributable to noncontrolling interests in consolidated affiliates |  |  |  |  | — |  |  | (385) |
Net income from discontinued operations attributable to Rayonier Inc. |  |  |  |  | — |  |  | $2,094 |
(a)The three months ended March 31, 2025 includes transaction costs of $0.2 million. The following table summarizes the depreciation, depletion and amortization and capital expenditures of our New Zealand operations for the three months ended March 31, 2026 and 2025:
|  | Three Months Ended March 31,
|  |  |  |  | 2026 |  | 2025
Depreciation, depletion and amortization |  |  |  |  | — |  |  | $4,334 |
Capital expenditures |  |  |  |  | — |  |  | 2,654 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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