v3.26.1
RAYONIER INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Rayonier Limited Partnership
Incentive Stock Awards Repurchase Program
Repurchase Program
Common Shares
Common Shares
Incentive Stock Awards Repurchase Program
Common Shares
Repurchase Program
Retained Earnings
Retained Earnings
Repurchase Program
Accumulated Other Comprehensive Income
Noncontrolling Interests in Consolidated Affiliates
Beginning balance (in shares) at Dec. 31, 2024         148,536,643            
Beginning balance at Dec. 31, 2024 $ 1,780,533       $ 1,522,487     $ 257,254   $ (10,429) $ 11,221
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
(Loss) income from continuing operations (5,592)             (5,592)     0
Income (loss) from discontinued operations 2,507             2,122     385
Net income (loss) attributable to noncontrolling interests in the Operating Partnership 46             46      
Dividends [1] (42,686)             (42,686)      
Issuance of common shares from special dividend (in shares) [2]         7,560,983            
Issuance of common shares from special dividend [2] 200,454       $ 200,454            
Issuance of shares under incentive stock plans (in shares)         5,566            
Stock-based incentive compensation 2,281       $ 2,281            
Repurchase of common shares (in shares)           (1,420) (95,000)        
Repurchase of common shares made under repurchase program 2,623   $ 38     $ 38     $ 2,623    
Adjustment of noncontrolling interests in the Operating Partnership (4,341)             (4,341)      
Conversion of units into common shares (in shares)         1,000            
Conversion of units into common shares 28       $ 28            
Pension and postretirement benefit plans (2) $ (2)               (2)  
Foreign currency translation adjustment 3,633 3,633               3,515 118
Cash flow hedges (7,047) (7,047)               (7,441) 394
Allocation of other comprehensive income to noncontrolling interests in the Operating Partnership 53                 53  
Distributions to noncontrolling interests in consolidated affiliates (1,911) (1,911)                 (1,911)
Ending balance (in shares) at Mar. 31, 2025         156,007,772            
Ending balance at Mar. 31, 2025 $ 1,925,295       $ 1,725,212     204,180   (14,304) $ 10,207
Beginning balance (in shares) at Dec. 31, 2025 161,425,616       161,425,616            
Beginning balance at Dec. 31, 2025 $ 2,209,735       $ 1,904,376     280,873   24,486  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
(Loss) income from continuing operations (12,514)             (12,514)      
Net income (loss) attributable to noncontrolling interests in the Operating Partnership 82             82      
Dividends [3] (81,096)             (81,096)      
Dividend equivalents on deferred stock 0       $ 93     (93)      
Issuance of common shares associated with the merger with PotlatchDeltic, net of equity issuance costs of $0.9 million (in shares)         140,872,342            
Issuance of common shares associated with the merger with PotlatchDeltic, net of equity issuance costs of $0.9 million 3,202,571       $ 3,202,571            
Replacement equity awards granted in connection with the merger with PotlatchDeltic — precombination service portion 24,983 24,983     $ 24,983            
Issuance of shares under incentive stock plans (in shares)         903,045            
Stock-based incentive compensation 15,413       $ 15,413            
Repurchase of common shares (in shares)           (45,564) (1,480,753)        
Repurchase of common shares made under repurchase program     $ 1,006 $ 31,068   $ 1,006     $ 31,068    
Adjustment of noncontrolling interests in the Operating Partnership 1             1      
Conversion of units into common shares (in shares)         637            
Conversion of units into common shares 14       $ 14            
Pension and postretirement benefit plans (1) (1)               (1)  
Cash flow hedges 2,256 $ 2,256               2,256  
Allocation of other comprehensive income to noncontrolling interests in the Operating Partnership $ (14)                 (14)  
Ending balance (in shares) at Mar. 31, 2026 301,675,323       301,675,323            
Ending balance at Mar. 31, 2026 $ 5,329,356       $ 5,146,444     $ 156,185   $ 26,727  
[1] For information regarding distributions to noncontrolling interests in the Operating Partnership, see the Rayonier Inc. Consolidated Statements of Cash Flows and Note 6 — Noncontrolling Interests.
[2] Reflects the issuance of shares related to the Company’s special dividend of $1.80 per common share, paid on January 30, 2025, to shareholders of record as of December 12, 2024. This dividend comprised a combination of cash and the Company’s common shares.
[3] For information regarding distributions to noncontrolling interests in the Operating Partnership, see the Rayonier Inc. Consolidated Statements of Cash Flows and Note 6 — Noncontrolling Interests.