Rayonier Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	775.6	359.15	173.49	107.08	152.55	37.08
Depreciation & Amortization	135.85	140.25	158.23	147.34	155.72	165
Gain (Loss) on Sale of Assets	-291.08	-291.08	-105.08	-16.61	-44.78	-28.66
Gain (Loss) on Sale of Investments	-	-	-	-	-55.2	-
Asset Writedown	7.05	-	2.3	0.73	-	15.2
Stock-Based Compensation	10.71	14.23	14	12.36	9.28	8.03
Change in Accounts Receivable	11.15	-2.83	4.4	-9.11	17.24	-15.38
Change in Accounts Payable	-5.56	0.57	1.51	1.14	-1.59	5.67
Change in Other Net Operating Assets	-32.98	-22.97	-1.26	-9.94	-5.85	-1.7
Other Operating Activities	99.37	62.26	50.26	40.54	98.25	20.38
Net Cash from Discontinued Operations	-418.96	-	-	-	-	-
Operating Cash Flow	292.69	261.59	298.38	269.19	325.11	204.17
Operating Cash Flow Growth	11.20%	-12.33%	10.84%	-17.20%	59.23%	-4.70%
Acquisition of Real Estate Assets	-112.29	-128.35	-118.59	-547.04	-267.6	-97.66
Sale of Real Estate Assets	488.92	484.79	239.9	29.5	-	115.67
Net Sale / Acq. of Real Estate Assets	376.63	356.44	121.31	-517.54	-267.6	18.01
Cash Acquisition	-	-	-	-	-	-231.07
Other Investing Activities	695.11	-2.42	2.78	1.18	241.35	-0.58
Investing Cash Flow	1,072	354.01	124.09	-516.36	-26.25	-213.64
Long-Term Debt Issued	-	-	-	656.84	446.38	320
Long-Term Debt Repaid	-	-250	-150	-531.84	-420	-152
Net Debt Issued (Repaid)	-190	-250	-150	125	26.38	168
Issuance of Common Stock	-	-	0.08	64.19	236.75	33.94
Repurchase of Common Stock	-85.04	-18.87	-4.22	-4.23	-1.62	-4.76
Common Dividends Paid	-169.55	-170.27	-169.99	-165.71	-153.52	-146.35
Other Financing Activities	-8.63	-9.93	-4.74	-23.84	-124.31	-23.84
Foreign Exchange Rate Adjustments	0.11	-1.42	-0.62	-1.97	-0.89	-0.02
Net Cash Flow	843.01	134.83	92.97	-253.73	281.66	17.51
Cash Interest Paid	27.64	38.61	48.74	35.72	42.67	40.9
Cash Income Tax Paid	4.42	5.88	4.82	15.13	7.39	0.82
Levered Free Cash Flow	419.59	488.37	213.24	-299.43	53.81	119.77
Unlevered Free Cash Flow	437.99	511.44	243.45	-276.8	81.88	144
Change in Working Capital	-25.86	-23.22	5.17	-22.24	9.3	-12.86

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