2015 Q4 Form 10-K Financial Statement

#000005282717000004 Filed on February 24, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $137.1M $151.7M $115.8M
YoY Change -6.96% 1.22% -29.02%
Cost Of Revenue $114.1M $116.0M $103.7M
YoY Change -9.97% -1.73% -15.77%
Gross Profit $22.98M $35.61M $12.11M
YoY Change 11.64% 12.2% -69.76%
Gross Profit Margin 16.76% 23.48% 10.46%
Selling, General & Admin $11.40M $10.69M $12.73M
YoY Change -5.0% 21.38% -8.18%
% of Gross Profit 49.61% 30.01% 105.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.90M $31.96M $23.85M
YoY Change -6.06% -6.01% -21.38%
% of Gross Profit 121.42% 89.74% 196.91%
Operating Expenses $5.100M $10.69M $12.73M
YoY Change -10.53% 21.38% -8.18%
Operating Profit $17.88M $27.78M $6.523M
YoY Change 20.12% -13.4% -82.64%
Interest Expense -$8.000M $7.581M $8.483M
YoY Change -29.82% -20.75% -45.66%
% of Operating Profit -44.75% 27.29% 130.05%
Other Income/Expense, Net -$1.558M -$1.196M
YoY Change -10.15% -72.73%
Pretax Income $9.900M $18.64M -$3.156M
YoY Change 167.57% -10.29% -117.95%
Income Tax $500.0K -$541.0K -$296.0K
% Of Pretax Income 5.05% -2.9%
Net Earnings $10.29M $19.67M -$1.536M
YoY Change 16.12% -39.85% -109.39%
Net Earnings / Revenue 7.5% 12.97% -1.33%
Basic Earnings Per Share $0.08 $0.16 -$0.01
Diluted Earnings Per Share $0.08 $0.16 -$0.01
COMMON SHARES
Basic Shares Outstanding 123.8M shares 125.1M shares 126.6M shares
Diluted Shares Outstanding 125.3M shares 126.6M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.80M $65.80M $91.60M
YoY Change -67.95% -64.0% -58.76%
Cash & Equivalents $51.78M $65.76M $91.63M
Short-Term Investments
Other Short-Term Assets $5.681M $24.00M $21.20M
YoY Change 179.71% -14.29% -78.76%
Inventory $15.35M $14.51M $13.36M
Prepaid Expenses $2.091M
Receivables $20.22M $19.30M $19.44M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $105.7M $123.6M $145.7M
YoY Change -50.55% -50.85% -59.55%
LONG-TERM ASSETS
Property, Plant & Equipment $6.742M $6.157M $6.434M
YoY Change 0.54% -5.73% 4.74%
Goodwill $8.478M
YoY Change -12.54%
Intangibles
YoY Change
Long-Term Investments $360.0M $346.0M $319.0M
YoY Change 22.03% 13.07% 16.85%
Other Assets $47.76M $79.37M $57.77M
YoY Change -28.48% -50.73% -60.99%
Total Long-Term Assets $2.210B $2.191B $2.221B
YoY Change -1.3% -1.58% -2.43%
TOTAL ASSETS
Total Short-Term Assets $105.7M $123.6M $145.7M
Total Long-Term Assets $2.210B $2.191B $2.221B
Total Assets $2.316B $2.314B $2.366B
YoY Change -5.59% -6.58% -10.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.48M $19.30M $22.40M
YoY Change 6.27% -16.54% -19.64%
Accrued Expenses $16.90M $31.90M $28.50M
YoY Change -35.5% 1.59% -1.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $30.00M
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $59.46M $81.36M $112.5M
YoY Change -70.57% -61.56% 23.03%
LONG-TERM LIABILITIES
Long-Term Debt $830.6M $791.2M $722.4M
YoY Change 33.56% 30.75% -6.2%
Other Long-Term Liabilities $30.05M $32.06M $20.84M
YoY Change 45.62% 16.71% -31.9%
Total Long-Term Liabilities $860.6M $823.3M $743.2M
YoY Change 33.95% 30.14% -7.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.46M $81.36M $112.5M
Total Long-Term Liabilities $860.6M $823.3M $743.2M
Total Liabilities $920.1M $904.6M $855.7M
YoY Change 8.95% 7.15% -4.08%
SHAREHOLDERS EQUITY
Retained Earnings $612.8M $657.3M $743.5M
YoY Change -22.5% -19.86% -16.24%
Common Stock $708.8M $707.1M $694.8M
YoY Change 0.89% 0.93% -0.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.288B $1.308B $1.404B
YoY Change
Total Liabilities & Shareholders Equity $2.316B $2.314B $2.366B
YoY Change -5.59% -6.58% -10.23%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income $10.29M $19.67M -$1.536M
YoY Change 16.12% -39.85% -109.39%
Depreciation, Depletion And Amortization $27.90M $31.96M $23.85M
YoY Change -6.06% -6.01% -21.38%
Cash From Operating Activities $33.80M $57.50M $32.50M
YoY Change -6.89% 4.55% -74.81%
INVESTING ACTIVITIES
Capital Expenditures -$29.70M -$12.00M -$77.60M
YoY Change -47.62% -72.35% -29.58%
Acquisitions
YoY Change
Other Investing Activities $6.200M -$23.50M $14.10M
YoY Change -59.74% 41.57% -18.97%
Cash From Investing Activities -$23.40M -$35.60M -$63.60M
YoY Change -43.48% -40.57% -31.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.40M -46.00M -13.50M
YoY Change 65.0% 34.9% -145.3%
NET CHANGE
Cash From Operating Activities 33.80M 57.50M 32.50M
Cash From Investing Activities -23.40M -35.60M -63.60M
Cash From Financing Activities -26.40M -46.00M -13.50M
Net Change In Cash -16.00M -24.10M -44.60M
YoY Change -24.17% -38.21% -167.58%
FREE CASH FLOW
Cash From Operating Activities $33.80M $57.50M $32.50M
Capital Expenditures -$29.70M -$12.00M -$77.60M
Free Cash Flow $63.50M $69.50M $110.1M
YoY Change -31.72% -29.37% -53.97%

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1316000 USD
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81752000 USD
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50970000 USD
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51114000 USD
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0 USD
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119980000 USD
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19320000 USD
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32000 USD
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1.73
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0.35
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0.35
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0.000
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0.084
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0.016
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0.004
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-0.026
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-0.005
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7037000 USD
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9277000 USD
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1714000 USD
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302000 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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483000 USD
CY2014 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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3498000 USD
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-89000 USD
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283000 USD
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0 USD
CY2015 us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
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0 USD
CY2016 us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
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1153000 USD
CY2016Q1 us-gaap Minority Interest Ownership Percentage By Parent
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0.65
CY2015 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
0 USD
CY2016Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
9300000 USD
CY2014 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
0 USD
CY2016 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
143933000 USD
CY2014 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
48000 USD
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
7000 USD
CY2016 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
85000 USD
CY2014 us-gaap Gain Loss Related To Litigation Settlement
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5779000 USD
CY2015 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2016 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2014Q4 us-gaap Goodwill
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9694000 USD
CY2015Q4 us-gaap Goodwill
Goodwill
8478000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
8679000 USD
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GoodwillAcquiredDuringPeriod
0 USD
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 USD
CY2015 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
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-1216000 USD
CY2016 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
201000 USD
CY2016Q4 us-gaap Guarantee Obligations Current Carrying Value
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15043000 USD
CY2016Q4 us-gaap Guarantee Obligations Maximum Exposure
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23540000 USD
CY2014 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
55934000 USD
CY2015 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
46165000 USD
CY2016 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
211972000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
44842000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
43082000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
222834000 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
54443000 USD
CY2015 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
43941000 USD
CY2016 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
217770000 USD
CY2014 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.44
CY2015 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.37
CY2016 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.73
CY2014 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.43
CY2015 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.37
CY2016 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.73
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax
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43403000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
43403000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.34
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.33
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2014 us-gaap Income Tax Effects Allocated Directly To Equity Employee Stock Options
IncomeTaxEffectsAllocatedDirectlyToEquityEmployeeStockOptions
800000 USD
CY2015 us-gaap Income Tax Effects Allocated Directly To Equity Employee Stock Options
IncomeTaxEffectsAllocatedDirectlyToEquityEmployeeStockOptions
300000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-9601000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-859000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5064000 USD
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3607000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3613000 USD
CY2014 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
159000 USD
CY2015 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1097000 USD
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1098000 USD
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
15695000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
15079000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
77992000 USD
CY2014 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-60000 USD
CY2015 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
1000 USD
CY2016 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-2936000 USD
CY2014 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8789000 USD
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
277000 USD
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
501000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
29929000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1863000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-559000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4300000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2034000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
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-2517000 USD
CY2014 us-gaap Increase Decrease In Income Taxes Receivable
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-838000 USD
CY2015 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
894000 USD
CY2016 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
206000 USD
CY2014 us-gaap Increase Decrease In Inventories
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-3926000 USD
CY2015 us-gaap Increase Decrease In Inventories
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9749000 USD
CY2016 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1175000 USD
CY2014 us-gaap Increase Decrease In Other Operating Capital Net
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-2669000 USD
CY2015 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-6251000 USD
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
10138000 USD
CY2014 us-gaap Increase Decrease In Restricted Cash
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-62256000 USD
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
16836000 USD
CY2016 us-gaap Increase Decrease In Restricted Cash
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48184000 USD
CY2014 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1957154 shares
CY2015 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2016 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2014 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
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CY2015 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
358449 shares
CY2016 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
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InterestExpense
44248000 USD
CY2015 us-gaap Interest Expense
InterestExpense
31699000 USD
CY2016 us-gaap Interest Expense
InterestExpense
32245000 USD
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InterestPaidNet
47640000 USD
CY2015 us-gaap Interest Paid Net
InterestPaidNet
33011000 USD
CY2016 us-gaap Interest Paid Net
InterestPaidNet
36289000 USD
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6153000 USD
CY2016Q4 us-gaap Interest Payable Current
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5340000 USD
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15351000 USD
CY2016Q4 us-gaap Inventory Net
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21379000 USD
CY2015Q4 us-gaap Inventory Real Estate Land And Land Development Costs
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65450000 USD
CY2016Q4 us-gaap Inventory Real Estate Land And Land Development Costs
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70374000 USD
CY2015Q4 us-gaap Investments In And Advances To Affiliates Amount Of Equity
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0 USD
CY2016Q4 us-gaap Investments In And Advances To Affiliates Amount Of Equity
InvestmentsInAndAdvancesToAffiliatesAmountOfEquity
0 USD
CY2015Q4 us-gaap Land
Land
1833000 USD
CY2016Q4 us-gaap Land
Land
2279000 USD
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2315938000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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2685760000 USD
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59457000 USD
CY2016Q4 us-gaap Liabilities Current
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91966000 USD
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833879000 USD
CY2016Q4 us-gaap Long Term Debt
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1065472000 USD
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0 USD
CY2016Q4 us-gaap Long Term Debt Current
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31676000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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993796000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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31500000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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40000000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 USD
CY2015Q4 us-gaap Long Term Debt Noncurrent
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830554000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
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1030205000 USD
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5 claim
CY2015Q1 us-gaap Loss Contingency Number Of Plaintiffs
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2 plaintiff
CY2015Q4 us-gaap Machinery And Equipment Gross
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3686000 USD
CY2016Q4 us-gaap Machinery And Equipment Gross
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4658000 USD
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73656000 USD
CY2016Q4 us-gaap Minority Interest
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85142000 USD
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0.23
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0.23
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0.65
CY2013Q2 us-gaap Minority Interest Ownership Percentage By Parent
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0.65
CY2016Q1 us-gaap Minority Interest Ownership Percentage By Parent
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0.77
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CY2015 us-gaap Net Cash Provided By Used In Financing Activities
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CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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114423000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015 us-gaap Net Cash Provided By Used In Investing Activities
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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320416000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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177164000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
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203801000 USD
CY2014 us-gaap Net Income Loss
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99337000 USD
CY2015Q1 us-gaap Net Income Loss
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17747000 USD
CY2015Q2 us-gaap Net Income Loss
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-1536000 USD
CY2015Q3 us-gaap Net Income Loss
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19669000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
10285000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
46165000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
14472000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
109821000 USD
CY2016Q3 us-gaap Net Income Loss
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39355000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
48324000 USD
CY2016 us-gaap Net Income Loss
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211972000 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-1491000 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2224000 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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5798000 USD
CY2014 us-gaap Noninterest Income
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0 USD
CY2015 us-gaap Noninterest Income
NoninterestIncome
1191000 USD
CY2016 us-gaap Noninterest Income
NoninterestIncome
2303000 USD
CY2015Q4 us-gaap Notes Receivable Related Parties Noncurrent
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0 USD
CY2016Q4 us-gaap Notes Receivable Related Parties Noncurrent
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0 USD
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5 segment
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
98289000 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
77784000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
255777000 USD
CY2014 us-gaap Operating Leases Income Statement Lease Revenue
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17569000 USD
CY2015 us-gaap Operating Leases Income Statement Lease Revenue
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19216000 USD
CY2016 us-gaap Operating Leases Income Statement Lease Revenue
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18201000 USD
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5681000 USD
CY2016Q4 us-gaap Other Assets Current
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1874000 USD
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47756000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
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73825000 USD
CY2016 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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2400000 USD
CY2014 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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-1855000 USD
CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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-9961000 USD
CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
22822000 USD
CY2014 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-861000 USD
CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
91000 USD
CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
545000 USD
CY2016 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
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5400000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-15847000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-32451000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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6322000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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78000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-1066000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
36344000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
34677000 USD
CY2014 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-54046000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-2933000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-5533000 USD
CY2014 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-35852000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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-470000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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24147000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
-2933000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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-5533000 USD
CY2015Q4 us-gaap Other Liabilities Current
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CY2016Q4 us-gaap Other Liabilities Current
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20679000 USD
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30050000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
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34981000 USD
CY2014 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2015 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-350000 USD
CY2016 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-336000 USD
CY2014 us-gaap Other Noncash Income Tax Expense
OtherNoncashIncomeTaxExpense
-6597000 USD
CY2015 us-gaap Other Noncash Income Tax Expense
OtherNoncashIncomeTaxExpense
135000 USD
CY2016 us-gaap Other Noncash Income Tax Expense
OtherNoncashIncomeTaxExpense
0 USD
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-9199000 USD
CY2015 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3003000 USD
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-698000 USD
CY2014 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
2507000 USD
CY2015 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
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CY2016 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
99000 USD
CY2014 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
26511000 USD
CY2015 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
19759000 USD
CY2016 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
34991000 USD
CY2014 us-gaap Payments For Environmental Liabilities
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5096000 USD
CY2015 us-gaap Payments For Environmental Liabilities
PaymentsForEnvironmentalLiabilities
0 USD
CY2016 us-gaap Payments For Environmental Liabilities
PaymentsForEnvironmentalLiabilities
0 USD
CY2014 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
0 USD
CY2015 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
0 USD
CY2016 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
0 USD
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CY2016 us-gaap Comparability Of Prior Year Financial Data
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain 2015 and 2014 amounts have been reclassified to conform with the current year presentation, including the Consolidated Balance Sheet and Consolidated Statement of Cash Flows to better reflect the intended use of the assets and funds. These reclassifications did not affect revenue, total costs and expenses, operating income, or net income.</font></div></div>
CY2016 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NATURE OF BUSINESS OPERATIONS </font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Rayonier Inc., a North Carolina corporation, including its consolidated subsidiaries (&#8220;Rayonier&#8221; or &#8220;the Company&#8221;), is a leading timberland real estate investment trust (&#8220;REIT&#8221;) with assets located in some of the most productive softwood timber growing regions in the U.S. and New Zealand and its shares have a </font><font style="font-family:inherit;font-size:10pt;">$0.00</font><font style="font-family:inherit;font-size:10pt;"> par value. The Company owns or leases approximately </font><font style="font-family:inherit;font-size:10pt;">2.7 million</font><font style="font-family:inherit;font-size:10pt;"> acres of timberland, located in the United States and New Zealand. Included in this property is approximately </font><font style="font-family:inherit;font-size:10pt;">0.2 million</font><font style="font-family:inherit;font-size:10pt;"> acres of timberlands located primarily along the coastal region from Savannah, Georgia to Daytona Beach, Florida, some of which has long-term potential for real estate development. The Company also engages in the trading of logs, primarily to support the Company&#8217;s New Zealand export operations. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Rayonier operates in </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;"> reportable business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. See </font><font style="font-family:Times New Roman;font-size:10pt;">Note 4</font><font style="font-family:inherit;font-size:10pt;"> &#8212; </font><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;">Segment and Geographical Information</font><font style="font-family:inherit;font-size:10pt;"> for further discussion of reportable business segments and </font><font style="font-family:Times New Roman;font-size:10pt;">Note 23</font><font style="font-family:inherit;font-size:10pt;"> &#8212; </font><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;">Discontinued Operations</font><font style="font-family:inherit;font-size:10pt;"> for additional information on the spin-off of the Performance Fibers business.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is a REIT and is generally not required to pay federal income taxes on its U.S. timber harvest earnings and other U.S. REIT operations contingent upon meeting applicable distribution, income, asset, shareholder and other tests. The U.S. timber operations are primarily conducted by the Company&#8217;s wholly-owned REIT subsidiaries. Non-REIT qualifying and certain foreign operations, which are subject to corporate-level tax on earnings, are operated by taxable subsidiaries. These operations include the Real Estate segment&#8217;s entitlement activities, limited development activities and sale of higher and better use (&#8220;HBU&#8221;) properties. The Company&#8217;s consolidated joint venture, Matariki Forestry Group (&#8220;New Zealand JV&#8221;), is subject to entity-level tax in New Zealand.</font></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Southern, Pacific Northwest and New Zealand Timber</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s Timber segments own or lease approximately </font><font style="font-family:inherit;font-size:10pt;">2.7 million</font><font style="font-family:inherit;font-size:10pt;"> acres of timberlands located in the U.S. and New Zealand. The Timber segments conduct timber harvesting activities, manage timberlands and sell timber and logs to third parties. On March&#160;3, 2016, the Company acquired an additional </font><font style="font-family:inherit;font-size:10pt;">12%</font><font style="font-family:inherit;font-size:10pt;"> interest in the New Zealand JV, which currently owns or leases approximately </font><font style="font-family:inherit;font-size:10pt;">433,000</font><font style="font-family:inherit;font-size:10pt;"> gross acres (</font><font style="font-family:inherit;font-size:10pt;">299,000</font><font style="font-family:inherit;font-size:10pt;"> net plantable acres) of New Zealand timberlands. The acquisition of additional interest brought the Company&#8217;s ownership to </font><font style="font-family:inherit;font-size:10pt;">77%</font><font style="font-family:inherit;font-size:10pt;">. The Company maintains a controlling financial interest in the New Zealand JV and, accordingly, consolidates the New Zealand JV&#8217;s Balance Sheet and results of operations. Rayonier&#8217;s wholly-owned subsidiary, Rayonier New Zealand Limited (&#8220;RNZ&#8221;) serves as the manager of the New Zealand JV forests. See </font><font style="font-family:Times New Roman;font-size:10pt;">Note 7</font><font style="font-family:inherit;font-size:10pt;"> &#8212; </font><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;">Joint Venture Investment</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">. </font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During 2016, the Company acquired approximately </font><font style="font-family:inherit;font-size:10pt;">111,000</font><font style="font-family:inherit;font-size:10pt;"> acres of timberlands in Florida, Georgia, Texas, Oregon and Washington for </font><font style="font-family:inherit;font-size:10pt;">$366.5 million</font><font style="font-family:inherit;font-size:10pt;">. During 2015, the Company acquired approximately </font><font style="font-family:inherit;font-size:10pt;">35,000</font><font style="font-family:inherit;font-size:10pt;"> acres of timberlands in the U.S. for </font><font style="font-family:inherit;font-size:10pt;">$88.5 million</font><font style="font-family:inherit;font-size:10pt;"> as well as acquiring forestry rights covering approximately </font><font style="font-family:inherit;font-size:10pt;">1,800</font><font style="font-family:inherit;font-size:10pt;"> acres of timberland with mature timber in New Zealand for </font><font style="font-family:inherit;font-size:10pt;">$9.9 million</font><font style="font-family:inherit;font-size:10pt;">. See </font><font style="font-family:Times New Roman;font-size:10pt;">Note 3</font><font style="font-family:inherit;font-size:10pt;"> &#8212; </font><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;">Timberland Acquisitions</font><font style="font-family:inherit;font-size:10pt;"> for additional information.</font></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Real Estate</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The vast majority of the Company&#8217;s HBU properties are managed as timberland and generate cash flow from timber operations prior to their sale or, in the case of Improved Development properties, prior to improvement. All of the Company&#8217;s U.S. land sales, including HBU and non-HBU, are reported in the Real Estate segment. Rayonier employs a detailed land classification process for all of its timberland and HBU acres. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Trading</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s trading business comprises log trading in New Zealand conducted by the New Zealand JV in </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> core areas of business: managed export services on behalf of third parties and procured logs for export sale by the New Zealand JV. The Trading segment complements the New Zealand Timber segment by adding scale and achieving cost savings that directly benefit the New Zealand Timber segment.</font></div></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and to disclose contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. There are risks inherent in estimating and therefore actual results could differ from those estimates.</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div></div>

Files In Submission

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