Rayonier Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	474.4	359.15	173.49	107.08	152.55
Depreciation & Amortization	106.5	140.25	158.23	147.34	155.72
Gain (Loss) on Sale of Assets	-	-291.08	-105.08	-16.61	-44.78
Gain (Loss) on Sale of Investments	-	-	-	-	-55.2
Asset Writedown	7	-	2.3	0.73	-
Stock-Based Compensation	11	14.23	14	12.36	9.28
Change in Accounts Receivable	-	-2.83	4.4	-9.11	17.24
Change in Accounts Payable	-	0.57	1.51	1.14	-1.59
Change in Other Net Operating Assets	-13	-22.97	-1.26	-9.94	-5.85
Other Operating Activities	66.1	62.26	50.26	40.54	98.25
Net Cash from Discontinued Operations	-395.3	-	-	-	-
Operating Cash Flow	256.7	261.59	298.38	269.19	325.11
Operating Cash Flow Growth	-1.87%	-12.33%	10.84%	-17.20%	59.23%
Acquisition of Real Estate Assets	-72.4	-128.35	-118.59	-547.04	-267.6
Sale of Real Estate Assets	4.5	484.79	239.9	29.5	-
Net Sale / Acq. of Real Estate Assets	-67.9	356.44	121.31	-517.54	-267.6
Other Investing Activities	683	-2.42	2.78	1.18	241.35
Investing Cash Flow	615.1	354.01	124.09	-516.36	-26.25
Long-Term Debt Issued	-	-	-	656.84	446.38
Long-Term Debt Repaid	-	-250	-150	-531.84	-420
Net Debt Issued (Repaid)	-	-250	-150	125	26.38
Issuance of Common Stock	-	-	0.08	64.19	236.75
Repurchase of Common Stock	-70.5	-18.87	-4.22	-4.23	-1.62
Common Dividends Paid	-292.1	-170.27	-169.99	-165.71	-153.52
Other Financing Activities	-10.3	-9.93	-4.74	-23.84	-124.31
Foreign Exchange Rate Adjustments	1.3	-1.42	-0.62	-1.97	-0.89
Net Cash Flow	500.2	134.83	92.97	-253.73	281.66
Cash Interest Paid	-	38.61	48.74	35.72	42.67
Cash Income Tax Paid	0.3	5.88	4.82	15.13	7.39
Levered Free Cash Flow	-115.18	488.37	213.24	-299.43	53.81
Unlevered Free Cash Flow	-98.74	511.44	243.45	-276.8	81.88
Change in Working Capital	-13	-23.22	5.17	-22.24	9.3

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.