Attached files
| file | filename |
|---|---|
| EX-10.31 - RAYONIER ANNUAL BONUS PROGRAM, AS AMENDED AND RESTATED - RAYONIER INC | a10k2017ex1031.htm |
| EX-32 - SECTION 906 CERTIFICATION OF CEO & CFO - RAYONIER INC | a10k2017ex32.htm |
| EX-31.2 - SECTION 302 CERTIFICATION OF CFO - RAYONIER INC | a10k2017ex312.htm |
| EX-31.1 - SECTION 302 CERTIFICATION OF CEO - RAYONIER INC | a10k2017ex311.htm |
| EX-24 - POWERS OF ATTORNEY - RAYONIER INC | a10k2017ex24.htm |
| EX-23.1 - CONSENT OF ERNST & YOUNG LLP - RAYONIER INC | a10k2017ex231.htm |
| EX-21 - SUBSIDIARIES OF THE REGISTRANT - RAYONIER INC | a10k2017ex21.htm |
| EX-10.6 - AMENDMENT TO RAYONIER INVESTMENT AND SAVINGS PLAN - RAYONIER INC | a10k2017ex106.htm |
| 10-K - 10-K - RAYONIER INC | rayonier201710k.htm |
EXHIBIT 12
RAYONIER INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited, thousands of dollars)
For the Years Ended December 31, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Earnings: | |||||||||||||||||||
Income from continuing operations | $ | 161,579 | $ | 217,770 | $ | 43,941 | $ | 54,443 | $ | 105,843 | |||||||||
Income tax expense (benefit) | 21,681 | 5,064 | (859 | ) | (9,601 | ) | (35,685 | ) | |||||||||||
Pre-tax income from continuing operations | 183,260 | 222,834 | 43,082 | 44,842 | 70,158 | ||||||||||||||
Add: | |||||||||||||||||||
Interest expense | 34,616 | 32,456 | 31,718 | 44,248 | 40,941 | ||||||||||||||
Interest factor attributable to rentals | 137 | 171 | 236 | 301 | 540 | ||||||||||||||
Fixed charges | 34,753 | 32,627 | 31,954 | 44,549 | 41,481 | ||||||||||||||
Subtract: | |||||||||||||||||||
Capitalized Interest | $ | 545 | $ | 211 | $ | 19 | |||||||||||||
Earnings as adjusted | $ | 217,468 | $ | 255,250 | $ | 75,017 | $ | 89,391 | $ | 111,639 | |||||||||
Fixed Charges: | $ | 34,753 | $ | 32,627 | $ | 31,954 | $ | 44,549 | $ | 41,481 | |||||||||
Ratio of earnings as adjusted to total fixed charges | 6.26 | 7.82 | 2.35 | 2.01 | 2.69 | ||||||||||||||
Deficiency | — | — | — | — | — | ||||||||||||||