v3.26.1
RAYONIER, L.P. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 681,660 $ 842,944
Trade receivables, less allowance for doubtful accounts of $123 and $209 41,148 9,101
Other receivables 12,696 7,171
Inventory (Note 14) 113,236 6,834
Prepaid expenses 17,560 9,873
Assets held for sale (Note 25) 28,444 5,429
Other current assets 992 2,403
Total current assets 895,736 883,755
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 5,867,657 2,299,484
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 13) 187,615 126,090
PROPERTY, PLANT AND EQUIPMENT    
Land 23,719 5,581
Buildings 103,521 24,493
Machinery and equipment 467,335 6,977
Construction in progress 12,200 2,386
Total property, plant and equipment, gross 606,775 39,437
Less — accumulated depreciation (28,373) (20,909)
Total property, plant and equipment, net 578,402 18,528
RESTRICTED CASH, NON-CURRENT (NOTE 24) 495 495
Operating lease assets 23,515 16,286
OTHER ASSETS 192,008 60,015
TOTAL ASSETS 7,745,428 3,404,653
CURRENT LIABILITIES    
Accounts payable 28,451 12,775
Current maturities of long-term debt, net (Note 8) 199,996 199,982
Accrued taxes 11,272 5,070
Accrued payroll and benefits 39,170 15,740
Accrued interest 12,396 4,517
Deferred revenue 26,269 19,260
Other current liabilities 36,573 13,937
Total current liabilities 354,127 271,281
LONG-TERM DEBT, NET (NOTE 7) 1,855,051 845,335
PENSION AND OTHER POSTRETIREMENT BENEFITS, NON-CURRENT (NOTE 15) 61,582 1,399
LONG-TERM DEFERRED REVENUE 14,175 9,600
LONG-TERM DEFERRED TAX LIABILITIES, NET 36,027 83
OTHER NON-CURRENT LIABILITIES 55,167 26,757
CONTINGENCIES (NOTE 10)
REDEEMABLE OPERATING PARTNERSHIP UNITS (NOTE 5) 1,682,257 and 1,682,894 Units outstanding, respectively 39,943 40,463
CAPITAL    
Accumulated other comprehensive income (Note 17) 26,727 24,486
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 7,745,428 3,404,653
Rayonier Limited Partnership    
CURRENT ASSETS    
Cash and cash equivalents 681,660 842,944
Trade receivables, less allowance for doubtful accounts of $123 and $209 41,148 9,101
Other receivables 12,696 7,171
Inventory (Note 14) 113,236 6,834
Prepaid expenses 17,560 9,873
Assets held for sale (Note 25) 28,444 5,429
Other current assets 992 2,403
Total current assets 895,736 883,755
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 5,867,657 2,299,484
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 13) 187,615 126,090
PROPERTY, PLANT AND EQUIPMENT    
Land 23,719 5,581
Buildings 103,521 24,493
Machinery and equipment 467,335 6,977
Construction in progress 12,200 2,386
Total property, plant and equipment, gross 606,775 39,437
Less — accumulated depreciation (28,373) (20,909)
Total property, plant and equipment, net 578,402 18,528
RESTRICTED CASH, NON-CURRENT (NOTE 24) 495 495
Operating lease assets 23,515 16,286
OTHER ASSETS 192,008 60,015
TOTAL ASSETS 7,745,428 3,404,653
CURRENT LIABILITIES    
Accounts payable 28,451 12,775
Current maturities of long-term debt, net (Note 8) 199,996 199,982
Accrued taxes 11,272 5,070
Accrued payroll and benefits 39,170 15,740
Accrued interest 12,396 4,517
Deferred revenue 26,269 19,260
Other current liabilities 36,573 13,937
Total current liabilities 354,127 271,281
LONG-TERM DEBT, NET (NOTE 7) 1,855,051 845,335
PENSION AND OTHER POSTRETIREMENT BENEFITS, NON-CURRENT (NOTE 15) 61,582 1,399
LONG-TERM DEFERRED REVENUE 14,175 9,600
LONG-TERM DEFERRED TAX LIABILITIES, NET 36,027 83
OTHER NON-CURRENT LIABILITIES 55,167 26,757
CONTINGENCIES (NOTE 10)
REDEEMABLE OPERATING PARTNERSHIP UNITS (NOTE 5) 1,682,257 and 1,682,894 Units outstanding, respectively 39,943 40,463
CAPITAL    
General partners’ capital 53,008 21,834
Limited partners’ capital 5,247,735 2,161,543
Accumulated other comprehensive income (Note 17) 28,613 26,358
TOTAL CAPITAL 5,329,356 2,209,735
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY $ 7,745,428 $ 3,404,653