2015 Q4 Form 10-Q Financial Statement

#000005282715000051 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $137.1M $151.7M $149.8M
YoY Change -6.96% 1.22% -5.92%
Cost Of Revenue $114.1M $116.0M $118.1M
YoY Change -9.97% -1.73% -8.46%
Gross Profit $22.98M $35.61M $31.74M
YoY Change 11.64% 12.2% 4.9%
Gross Profit Margin 16.76% 23.48% 21.18%
Selling, General & Admin $11.40M $10.69M $8.806M
YoY Change -5.0% 21.38% -32.8%
% of Gross Profit 49.61% 30.01% 27.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.90M $31.96M $34.00M
YoY Change -6.06% -6.01% 10.35%
% of Gross Profit 121.42% 89.74% 107.12%
Operating Expenses $5.100M $10.69M $8.806M
YoY Change -10.53% 21.38% -32.8%
Operating Profit $17.88M $27.78M $32.08M
YoY Change 20.12% -13.4% 60.64%
Interest Expense -$8.000M $7.581M $9.566M
YoY Change -29.82% -20.75% -11.61%
% of Operating Profit -44.75% 27.29% 29.82%
Other Income/Expense, Net -$1.558M -$1.734M
YoY Change -10.15% 89.72%
Pretax Income $9.900M $18.64M $20.78M
YoY Change 167.57% -10.29% 152.42%
Income Tax $500.0K -$541.0K -$11.28M
% Of Pretax Income 5.05% -2.9% -54.29%
Net Earnings $10.29M $19.67M $32.70M
YoY Change 16.12% -39.85% -42.97%
Net Earnings / Revenue 7.5% 12.97% 21.83%
Basic Earnings Per Share $0.08 $0.16 $0.26
Diluted Earnings Per Share $0.08 $0.16 $0.25
COMMON SHARES
Basic Shares Outstanding 123.8M shares 125.1M shares 126.5M shares
Diluted Shares Outstanding 125.3M shares 129.8M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.80M $65.80M $182.8M
YoY Change -67.95% -64.0% -29.88%
Cash & Equivalents $51.78M $65.76M $182.8M
Short-Term Investments
Other Short-Term Assets $5.681M $24.00M $28.00M
YoY Change 179.71% -14.29% -77.07%
Inventory $15.35M $14.51M $12.44M
Prepaid Expenses $2.091M
Receivables $20.22M $19.30M $28.24M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $105.7M $123.6M $251.5M
YoY Change -50.55% -50.85% -60.77%
LONG-TERM ASSETS
Property, Plant & Equipment $6.742M $6.157M $6.531M
YoY Change 0.54% -5.73% -99.25%
Goodwill $8.478M
YoY Change -12.54%
Intangibles
YoY Change
Long-Term Investments $360.0M $346.0M $306.0M
YoY Change 22.03% 13.07%
Other Assets $47.76M $79.37M $161.1M
YoY Change -28.48% -50.73% -21.41%
Total Long-Term Assets $2.210B $2.191B $2.226B
YoY Change -1.3% -1.58% -29.93%
TOTAL ASSETS
Total Short-Term Assets $105.7M $123.6M $251.5M
Total Long-Term Assets $2.210B $2.191B $2.226B
Total Assets $2.316B $2.314B $2.478B
YoY Change -5.59% -6.58% -35.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.48M $19.30M $23.13M
YoY Change 6.27% -16.54% -76.63%
Accrued Expenses $16.90M $31.90M $31.40M
YoY Change -35.5% 1.59% -55.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $130.5M
YoY Change -100.0% -100.0% 1204.86%
Total Short-Term Liabilities $59.46M $81.36M $211.6M
YoY Change -70.57% -61.56% -11.77%
LONG-TERM LIABILITIES
Long-Term Debt $830.6M $791.2M $605.2M
YoY Change 33.56% 30.75% -63.24%
Other Long-Term Liabilities $30.05M $32.06M $27.47M
YoY Change 45.62% 16.71% 29.23%
Total Long-Term Liabilities $860.6M $823.3M $632.6M
YoY Change 33.95% 30.14% -62.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.46M $81.36M $211.6M
Total Long-Term Liabilities $860.6M $823.3M $632.6M
Total Liabilities $920.1M $904.6M $844.3M
YoY Change 8.95% 7.15% -55.74%
SHAREHOLDERS EQUITY
Retained Earnings $612.8M $657.3M $820.2M
YoY Change -22.5% -19.86% -17.59%
Common Stock $708.8M $707.1M $700.6M
YoY Change 0.89% 0.93% 1.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.288B $1.308B $1.524B
YoY Change
Total Liabilities & Shareholders Equity $2.316B $2.314B $2.478B
YoY Change -5.59% -6.58% -35.11%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $10.29M $19.67M $32.70M
YoY Change 16.12% -39.85% -42.97%
Depreciation, Depletion And Amortization $27.90M $31.96M $34.00M
YoY Change -6.06% -6.01% 10.35%
Cash From Operating Activities $33.80M $57.50M $55.00M
YoY Change -6.89% 4.55% -44.16%
INVESTING ACTIVITIES
Capital Expenditures -$29.70M -$12.00M -$43.40M
YoY Change -47.62% -72.35% -49.48%
Acquisitions
YoY Change
Other Investing Activities $6.200M -$23.50M -$16.60M
YoY Change -59.74% 41.57% 78.49%
Cash From Investing Activities -$23.40M -$35.60M -$59.90M
YoY Change -43.48% -40.57% -37.08%
FINANCING ACTIVITIES
Cash Dividend Paid $63.20M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.40M -46.00M -34.10M
YoY Change 65.0% 34.9% -60.39%
NET CHANGE
Cash From Operating Activities 33.80M 57.50M 55.00M
Cash From Investing Activities -23.40M -35.60M -59.90M
Cash From Financing Activities -26.40M -46.00M -34.10M
Net Change In Cash -16.00M -24.10M -39.00M
YoY Change -24.17% -38.21% -52.9%
FREE CASH FLOW
Cash From Operating Activities $33.80M $57.50M $55.00M
Capital Expenditures -$29.70M -$12.00M -$43.40M
Free Cash Flow $63.50M $69.50M $98.40M
YoY Change -31.72% -29.37% -46.64%

Facts In Submission

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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2066905 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2881548 shares
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1034269 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1384513 shares
CY2014Q4 us-gaap Assets
Assets
2453115000 USD
CY2015Q3 us-gaap Assets
Assets
2314460000 USD
CY2014Q4 us-gaap Assets Current
AssetsCurrent
213704000 USD
CY2015Q3 us-gaap Assets Current
AssetsCurrent
123623000 USD
CY2014Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
8961000 USD
CY2015Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
8918000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2310000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1945000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
199644000 USD
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
182831000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
161558000 USD
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65755000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-16813000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-95803000 USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.80
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.78
CY2014 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.03
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.75
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
480000000 shares
CY2015Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
480000000 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
126773097 shares
CY2015Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
123767680 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
126773097 shares
CY2015Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
123767680 shares
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
702598000 USD
CY2015Q3 us-gaap Common Stock Value
CommonStockValue
707070000 USD
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5379000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
140189000 USD
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2056000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15271000 USD
CY2014Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-12426000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-6573000 USD
CY2015Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-5363000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-18884000 USD
CY2014Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-7047000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
133616000 USD
CY2015Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-7419000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-34155000 USD
CY2014Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
579000 USD
CY2015Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
660000 USD
CY2015Q3 us-gaap Contractual Obligation
ContractualObligation
209495000 USD
CY2015Q3 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
142871000 USD
CY2015Q3 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
11642000 USD
CY2015Q3 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
13610000 USD
CY2015Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
19136000 USD
CY2015Q3 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
16398000 USD
CY2015Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
5838000 USD
CY2014Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
118088000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
357083000 USD
CY2015Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
116044000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
326966000 USD
CY2014Q3 us-gaap Costs And Expenses
CostsAndExpenses
117750000 USD
us-gaap Costs And Expenses
CostsAndExpenses
372079000 USD
CY2015Q3 us-gaap Costs And Expenses
CostsAndExpenses
123878000 USD
us-gaap Costs And Expenses
CostsAndExpenses
345714000 USD
CY2014Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
7273000 USD
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
14385000 USD
CY2015Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
6524000 USD
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
11617000 USD
CY2015Q3 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.01625
CY2015Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
790494000 USD
CY2015Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
700000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
4435000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-4745000 USD
CY2014Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.085
us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.077
us-gaap Defined Benefit Plan Other Information
DefinedBenefitPlanOtherInformation
Currently, the pension plans are closed to new participants.
us-gaap Defined Benefit Plan Unfunded Plan
DefinedBenefitPlanUnfundedPlan
an unfunded plan that provides benefits in excess of amounts allowable under current tax law in the qualified plan
us-gaap Defined Benefit Plans General Information
DefinedBenefitPlansGeneralInformation
The Company has one qualified non-contributory defined benefit pension plan covering a portion of its employees
us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
37985000 USD
us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
0 USD
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
34000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
90316000 USD
CY2015Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31958000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
85784000 USD
CY2015Q3 us-gaap Derivative Basis Spread On Variable Rate
DerivativeBasisSpreadOnVariableRate
0.01625
CY2014Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
688000 USD
CY2015Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
8044000 USD
CY2014Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
9377000 USD
CY2015Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
32826000 USD
CY2014Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-32000 USD
CY2015Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-2297000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-3290000 USD
CY2014Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
0 USD
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
21231000 USD
CY2015Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
0 USD
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
USD
CY2014 us-gaap Dividends
Dividends
256861000 USD
us-gaap Dividends
Dividends
94262000 USD
CY2014Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
0 USD
CY2015Q3 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
0 USD
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-103000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-6234000 USD
CY2014Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.543
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.129
CY2015Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.029
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.039
CY2014Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2015Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2014Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.048
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.355
CY2015Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.053
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.030
CY2014Q3 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.002
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.002
CY2015Q3 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.079
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.091
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.009
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6390000 USD
CY2015Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5673000 USD
CY2014Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
4304000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
4292000 USD
CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-149000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
67000 USD
CY2014Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
66000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
46000 USD
CY2015Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
4000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
6000 USD
CY2014Q3 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
5779000 USD
CY2015Q3 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2015Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
15043000 USD
CY2015Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
19720000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
32701000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
47388000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
19669000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
35880000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-642000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-970000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-488000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-1379000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
20779000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
41099000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
18640000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
33192000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
32059000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
46418000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
19181000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
34501000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.26
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.38
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.16
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.28
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.25
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.36
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.16
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.28
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
43092000 USD
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.34
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.33
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-11280000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5319000 USD
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-541000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1309000 USD
CY2014Q3 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-44000 USD
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-88000 USD
CY2015Q3 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1466000 USD
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-3029000 USD
CY2014Q3 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
99000 USD
us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
196000 USD
CY2015Q3 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
90000 USD
us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
175000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10453000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
421000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
33297000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1854000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-263000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1895000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-756000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
947000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2607000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9403000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-15670000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-17383000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-47318000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
17835000 USD
CY2014Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1237812 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2344335 shares
CY2015Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2014Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1692343 shares
CY2015Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
39720 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
477931 shares
CY2014Q3 us-gaap Interest Expense
InterestExpense
9566000 USD
us-gaap Interest Expense
InterestExpense
35852000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
7581000 USD
us-gaap Interest Expense
InterestExpense
24608000 USD
us-gaap Interest Paid Net
InterestPaidNet
38248000 USD
us-gaap Interest Paid Net
InterestPaidNet
21944000 USD
CY2014Q4 us-gaap Interest Payable Current
InterestPayableCurrent
8433000 USD
CY2015Q3 us-gaap Interest Payable Current
InterestPayableCurrent
8943000 USD
CY2014Q4 us-gaap Inventory Net
InventoryNet
8383000 USD
CY2015Q3 us-gaap Inventory Net
InventoryNet
14506000 USD
CY2014Q4 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
77433000 USD
CY2015Q3 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
67274000 USD
CY2014Q4 us-gaap Investments In And Advances To Affiliates Amount Of Equity
InvestmentsInAndAdvancesToAffiliatesAmountOfEquity
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain </font><font style="font-family:inherit;font-size:10pt;">2014</font><font style="font-family:inherit;font-size:10pt;"> amounts have been reclassified to conform to the current presentation, including changes in balance sheet presentation. During the first quarter of 2015, the Company reclassified seeds and seedlings from Inventory and Other Assets to Timber and Timberlands, Net to better reflect the intended use of the assets. Rayonier also reclassified long-term higher and better use (&#8220;HBU&#8221;) timberlands and real estate development costs from Other Assets to a separate balance sheet caption. These reclassifications are reflected in the </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> Consolidated Balance Sheets. Corresponding changes have also been made to the Consolidated Statements of Cash Flows for both periods presented.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain 2014 amounts have also been adjusted for reclassification of discontinued operations. Rayonier completed the spin-off of its Performance Fibers business on June 27, 2014. Accordingly, the operating results of this business segment are reported as discontinued operations in the Company&#8217;s Consolidated Statements of Income and Comprehensive Income for the prior-year period. Certain administrative and general costs historically allocated to the Performance Fibers business that remained with Rayonier are reported in continuing operations. </font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Consolidated Statement of Cash Flows for the </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2014</font><font style="font-family:inherit;font-size:10pt;"> has not been restated to exclude Performance Fibers cash flows. </font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">See </font><font style="font-family:inherit;font-size:10pt;">Note 2</font><font style="font-family:inherit;font-size:10pt;"> &#8212; </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Discontinued Operations</font><font style="font-family:inherit;font-size:10pt;"> for additional information regarding the spin-off of the Performance Fibers business. </font></div></div>

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