v3.26.1
RAYONIER INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
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 (Loss)
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)      
Income (loss) from discontinued operations 2,507           2,122     385
Net (loss) income 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 (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)  
Foreign currency translation adjustment 3,633               3,515 118
Cash flow hedges, net of tax (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)
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, 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]                    
Net (loss) income attributable to noncontrolling interests in the Operating Partnership (5,430)                  
Ending balance (in shares) at Jun. 30, 2025       154,761,232            
Ending balance at Jun. 30, 2025 2,302,217     $ 1,726,418     545,087   30,712 0
Beginning balance (in shares) at Mar. 31, 2025       156,007,772            
Beginning balance at Mar. 31, 2025 1,925,295     $ 1,725,212     204,180   (14,304) 10,207
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
(Loss) income from continuing operations 9,769           9,769      
Income (loss) from discontinued operations 403,838           404,415     (577)
Net (loss) income attributable to noncontrolling interests in the Operating Partnership (5,476)           (5,476)      
Deconsolidation of discontinued operations 18,324               29,068 (10,744)
Dividends [1] (42,387)           (42,387)      
Issuance of shares under incentive stock plans (in shares)       315,017            
Stock-based incentive compensation 3,628     $ 3,628            
Repurchase of common shares (in shares)         (98,148) (1,472,928)        
Repurchase of common shares (34,928) (2,640)     $ (2,640)     (34,928)    
Adjustment of noncontrolling interests in the Operating Partnership 9,514           9,514      
Conversion of units into common shares (in shares)       9,519            
Conversion of units into common shares 218     $ 218            
Pension and postretirement benefit plans (2)               (2)  
Foreign currency translation adjustment 16,842               16,252 590
Cash flow hedges, net of tax 1,400               (295) 1,695
Allocation of other comprehensive income to noncontrolling interests in the Operating Partnership (7)               (7)  
Distributions to noncontrolling interests in consolidated affiliates (1,171)                 (1,171)
Ending balance (in shares) at Jun. 30, 2025       154,761,232            
Ending balance at Jun. 30, 2025 $ 2,302,217     $ 1,726,418     545,087   30,712 $ 0
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 (loss) income 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            
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   (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)  
Cash flow hedges, net of tax 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            
Ending balance at Mar. 31, 2026 $ 5,329,356     $ 5,146,444     156,185   26,727  
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]                    
Net (loss) income attributable to noncontrolling interests in the Operating Partnership $ (24)                  
Ending balance (in shares) at Jun. 30, 2026 298,607,178     298,607,178            
Ending balance at Jun. 30, 2026 $ 5,212,152     $ 5,150,249     24,946   36,957  
Beginning balance (in shares) at Mar. 31, 2026       301,675,323            
Beginning balance at Mar. 31, 2026 5,329,356     $ 5,146,444     156,185   26,727  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
(Loss) income from continuing operations 19,243           19,243      
Net (loss) income attributable to noncontrolling interests in the Operating Partnership (106)           (106)      
Dividends [3] (77,989)           (77,989)      
Dividend equivalents on deferred stock 0     $ 93     (93)      
Issuance of shares under incentive stock plans (in shares)       490,627            
Stock-based incentive compensation 5,853     $ 5,853            
Repurchase of common shares (in shares)         (107,583) (3,455,482)        
Repurchase of common shares   $ (2,228) $ (72,392)   $ (2,228)     $ (72,392)    
Adjustment of noncontrolling interests in the Operating Partnership 98           98      
Conversion of units into common shares (in shares)       4,293            
Conversion of units into common shares 87     $ 87            
Pension and postretirement benefit plans (2)               (2)  
Cash flow hedges, net of tax 10,234               10,234  
Allocation of other comprehensive income to noncontrolling interests in the Operating Partnership $ (2)               (2)  
Ending balance (in shares) at Jun. 30, 2026 298,607,178     298,607,178            
Ending balance at Jun. 30, 2026 $ 5,212,152     $ 5,150,249     $ 24,946   $ 36,957  
[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.