RAYONIER INC Leases Disclosure
| Year of Expiration | ||||||||||||||||||||||||||||||||||||||||||||
| Lease Obligations | Total | 2026 | 2027 | 2028 | 2029 | 2030 | Thereafter | |||||||||||||||||||||||||||||||||||||
| Operating lease liabilities | $21,475 | $2,708 | $2,555 | $2,213 | $2,184 | $2,174 | $9,641 | |||||||||||||||||||||||||||||||||||||
| Total Undiscounted Cash Flows | $21,475 | $2,708 | $2,555 | $2,213 | $2,184 | $2,174 | $9,641 | |||||||||||||||||||||||||||||||||||||
| Imputed interest | (5,189) | |||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2025 | $16,286 | |||||||||||||||||||||||||||||||||||||||||||
| (2,617) | ||||||||||||||||||||||||||||||||||||||||||||
Non-current portion at December 31, 2025 | $13,669 | |||||||||||||||||||||||||||||||||||||||||||
| Year Ended December 31, | |||||||||||||||||||||||
| Lease Cost Components | 2025 | 2024 | 2023 | ||||||||||||||||||||
| Operating lease cost | $3,308 | $3,627 | $4,449 | ||||||||||||||||||||
| Variable lease cost (a) | 383 | 395 | 533 | ||||||||||||||||||||
| Total lease cost (b) | $3,691 | $4,022 | $4,982 | ||||||||||||||||||||
| Year Ended December 31, | |||||||||||||||||||||||
| Supplemental Cash Flow Information Related to Leases: | 2025 | 2024 | 2023 | ||||||||||||||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||||||||||||||
| Operating cash flows from operating leases | $1,216 | $1,407 | $2,081 | ||||||||||||||||||||
| Investing cash flows from operating leases | 2,092 | 2,220 | 2,368 | ||||||||||||||||||||
| Total cash flows from operating leases | $3,308 | $3,627 | $4,449 | ||||||||||||||||||||
| Weighted-average remaining lease term in years - operating leases | 10 | 11 | 11 | ||||||||||||||||||||
| Weighted-average discount rate - operating leases | 6 | % | 6 | % | 6 | % | |||||||||||||||||
| Practical Expedient | Description | |||||||
| Short-term leases | We do not record right-of-use assets or liabilities for short-term leases (a lease that at commencement date has a lease term of 12 months or less and does not contain a purchase option that is reasonably certain to be exercised). | |||||||
| Separation of lease and non-lease components | We do not separate non-lease components from the associated lease components if they have the same timing and pattern of transfer and, if accounted for separately, would both be classified as an operating lease. | |||||||
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.