v3.26.1
RAYONIER, L.P. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 411,760 $ 842,944
Trade receivables, less allowance for doubtful accounts of $131 and $209 51,500 9,101
Other receivables 13,726 7,171
Inventory (Note 14) 125,303 6,834
Prepaid expenses 19,539 9,873
Assets held for sale (Note 25) 59,108 5,429
Other current assets 244 2,403
Total current assets 681,180 883,755
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 5,791,117 2,299,484
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 13) 188,379 126,090
PROPERTY, PLANT AND EQUIPMENT    
Land 23,719 5,581
Buildings 106,258 24,493
Machinery and equipment 471,723 6,977
Construction in progress 9,994 2,386
Total property, plant and equipment, gross 611,694 39,437
Less — accumulated depreciation (39,137) (20,909)
Total property, plant and equipment, net 572,557 18,528
RESTRICTED CASH, NON-CURRENT (NOTE 24) 10,505 495
OPERATING LEASE RIGHT-OF-USE ASSETS (NOTE 17) 23,875 16,286
OTHER ASSETS 196,050 60,015
TOTAL ASSETS 7,463,663 3,404,653
CURRENT LIABILITIES    
Accounts payable 30,852 12,775
Current maturities of long-term debt, net (Note 8) 0 199,982
Accrued taxes 14,413 5,070
Accrued payroll and benefits 47,609 15,740
Accrued interest 8,201 4,517
Deferred revenue 48,523 19,260
Other current liabilities 41,625 13,937
Total current liabilities 191,223 271,281
LONG-TERM DEBT, NET (NOTE 8) 1,855,270 845,335
PENSION AND OTHER POSTRETIREMENT BENEFITS, NON-CURRENT (NOTE 18) 60,150 1,399
LONG-TERM DEFERRED REVENUE 13,161 9,600
LONG-TERM DEFERRED TAX LIABILITIES, NET 38,985 83
OTHER NON-CURRENT LIABILITIES 54,195 26,757
COMMITMENTS AND CONTINGENCIES (NOTE 11 and 12)
REDEEMABLE OPERATING PARTNERSHIP UNITS (NOTE 6) 1,634,153 and 1,682,894 Units outstanding, respectively 38,527 40,463
CAPITAL    
Accumulated other comprehensive income (Note 23) 36,957 24,486
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY 7,463,663 3,404,653
Rayonier Limited Partnership    
CURRENT ASSETS    
Cash and cash equivalents 411,760 842,944
Trade receivables, less allowance for doubtful accounts of $131 and $209 51,500 9,101
Other receivables 13,726 7,171
Inventory (Note 14) 125,303 6,834
Prepaid expenses 19,539 9,873
Assets held for sale (Note 25) 59,108 5,429
Other current assets 244 2,403
Total current assets 681,180 883,755
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION 5,791,117 2,299,484
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 13) 188,379 126,090
PROPERTY, PLANT AND EQUIPMENT    
Land 23,719 5,581
Buildings 106,258 24,493
Machinery and equipment 471,723 6,977
Construction in progress 9,994 2,386
Total property, plant and equipment, gross 611,694 39,437
Less — accumulated depreciation (39,137) (20,909)
Total property, plant and equipment, net 572,557 18,528
RESTRICTED CASH, NON-CURRENT (NOTE 24) 10,505 495
OPERATING LEASE RIGHT-OF-USE ASSETS (NOTE 17) 23,875 16,286
OTHER ASSETS 196,050 60,015
TOTAL ASSETS 7,463,663 3,404,653
CURRENT LIABILITIES    
Accounts payable 30,852 12,775
Current maturities of long-term debt, net (Note 8) 0 199,982
Accrued taxes 14,413 5,070
Accrued payroll and benefits 47,609 15,740
Accrued interest 8,201 4,517
Deferred revenue 48,523 19,260
Other current liabilities 41,625 13,937
Total current liabilities 191,223 271,281
LONG-TERM DEBT, NET (NOTE 8) 1,855,270 845,335
PENSION AND OTHER POSTRETIREMENT BENEFITS, NON-CURRENT (NOTE 18) 60,150 1,399
LONG-TERM DEFERRED REVENUE 13,161 9,600
LONG-TERM DEFERRED TAX LIABILITIES, NET 38,985 83
OTHER NON-CURRENT LIABILITIES 54,195 26,757
COMMITMENTS AND CONTINGENCIES (NOTE 11 and 12)
REDEEMABLE OPERATING PARTNERSHIP UNITS (NOTE 6) 1,634,153 and 1,682,894 Units outstanding, respectively 38,527 40,463
CAPITAL    
General partners’ capital 51,733 21,834
Limited partners’ capital 5,121,574 2,161,543
Accumulated other comprehensive income (Note 23) 38,845 26,358
TOTAL CAPITAL 5,212,152 2,209,735
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY $ 7,463,663 $ 3,404,653