Rayonier Inc.

(NYSE:RYN)
  Sep 30, 2008 Jun 30, 2008 Mar 31, 2008 Dec 31, 2007
Assets
Current Assets
Cash & Equivalents — 21,008 146,869 181,081
Restricted Cash — — — —
Marketable Securities — — — —
Accounts Receivable — 99,023 80,127 81,068
Loans Receivable — — — —
Other Receivable — — — —
Receivables — 99,023 80,127 81,068
Raw Materials — 7,253 7,374 10,122
Work in Progress — 6,494 7,431 9,188
Purchased Components — — — —
Finished Goods — 76,459 59,882 63,083
Other Inventories — 2,327 2,049 1,898
Inventories Adjustments and Allowances — — — —
Inventories — 92,533 76,736 84,291
Prepaid Expenses — — — —
Current Deferred Income Taxes — — — —
Other Current Assets — 61,912 47,360 49,780
Total Current Assets 361,500 274,476 351,092 396,220
Land and Improvements — 1,310,733 1,147,579 1,142,501
Building and Improvements — 124,165 124,078 124,030
Machinery Furniture and Equipment — 1,228,106 1,212,133 1,190,852
Construction in Progress — — — —
Other Fixed Assets — — — —
Total Fixed Assets — 2,663,004 2,483,790 2,457,383
Gross Fixed Assets 1,625,600 2,663,004 2,483,790 2,457,383
Accumulated Depreciation and Depletion — 1,017,183 1,006,835 994,409
Net Fixed Assets 1,625,600 1,645,821 1,476,955 1,462,974
Intangibles — — — —
Cost in Excess — — — —
Non Current Deferred Income Taxes — — — —
Other Non Current Assets 153,900 231,573 220,694 219,847
Total Non Current Assets 1,779,500 1,877,394 1,697,649 1,682,821
Total Assets 2,141,000 2,151,870 2,048,741 2,079,041
Liabilities
Current Liabilities
Accounts Payable — 78,814 72,861 66,224
Notes Payable — — — —
Short Term Debt — 585 585 55,585
Accrued Expenses — — — —
Accrued Liabilities — 45,686 58,960 53,075
Deferred Revenues — — — —
Current Deferred Income Tax Liabilities — — — —
Other Current Liabilities — 51,880 48,364 43,529
Total Current Liabilities 218,800 176,965 180,770 218,413
Non Current Liabilities
Long Term Debt 770,300 794,259 694,259 694,259
Capital Lease Obligations — — — —
Deferred Income Tax Liabilities — — — —
Other Non Current Liabilities 150,000 185,029 184,039 185,272
Minority Interest Liabilities — — — —
Preferred Securities of Subsidiary Trust Liabilities — — — —
Preferred Equity Outside Stock Equity — — — —
Total Non Current Liabilities 920,300 1,156,253 1,059,068 1,097,944
Total Liabilities 920,300 979,288 878,298 879,531
Shareholders' Equity
Preferred Stock Equity — — — —
Common Stock Equity 1,001,900 995,617 989,673 981,097
Common Par — 497,167 — 487,407
Additional Paid in Capital — — 489,198 —
Cumulative Translation Adjustment — 36,806 — 34,297
Retained Earnings — 518,794 520,670 519,328
Treasury Stock — — — —
Other Equity Adjustments — -57,150 -20,195 -59,935
Total Capitalization 1,772,200 1,789,876 1,683,932 1,675,356
Cash Flow — 332,433 326,984 328,955
Working Capital 361,500 97,511 170,322 177,807
Free Cash Flow — -212,775 9,710 53,518
Invested Capital 1,772,200 1,789,876 1,683,932 1,675,356
Total Equity 1,001,900 995,617 989,673 981,097
Total Liabilities and Stock Equity 1,922,200 2,151,870 2,048,741 2,079,041