Rayonier
29 named things its latest annual report says its results depend on, each in the company's own words. 12 of them are also named by other companies we've read.
Customers
Conservation-oriented buyer (21,601-acre transaction)
earns from · approximately 11% of consolidated salesIn 2025, we closed on a 21,601-acre transaction to a conservation-oriented buyer for $53.5 million, representing approximately 11% of consolidated sales.Business (Item 1)
Suppliers
Logging and transportation contractors
depends onnamed as a riskOur Timber and Wood Products segments depend on logging and transportation services provided by third parties, including by railroad, trucks and/or ships.Risk factors (Item 1A)
Other companies
PotlatchDeltic Corporation
approximately 140.9 million Rayonier common sharesnamed as a riskOn January 30, 2026, we completed our merger with PotlatchDeltic Corporation (“PotlatchDeltic”) in a merger-of-equals transaction.Business (Item 1)
Rayonier Advanced Materials
named as a riskHowever, in the event we seek indemnification from Rayonier Advanced Materials, we cannot provide any assurance that a court will enforce our indemnification right if challenged by Rayonier Advanced Materials or that Rayonier Advanced Materials will be able to fund any amounts for indemnification owed to us.Risk factors (Item 1A)
Clearwater Paper Corporation
named as a riskWe may be liable for presently unknown environmental liabilities at these sites either directly or derivatively should we be unable to enforce our indemnification rights or should Clearwater Paper be unable to fund any amounts of indemnification owed to us.Risk factors (Item 1A)
Wildlight and Heartwood development projects
concentrated inOur rural and recreational HBU property sales typically comprise approximately 1% to 2% of our Southern timberland holdings on an annual basis, while our current pipeline of development property sales is concentrated in two specific projects in the U.S. South known as Wildlight and Heartwood.Business (Item 1)
Competitors
Bureau of Land Management
competes withnamed as a riskRecent federal and state actions – including new executive orders and increased timber sales by the Bureau of Land Management and the U.S. Forest Service – aim to expand timber harvesting on government owned lands in Idaho.Risk factors (Item 1A)
Also named by AESI, BTU, CHRD, CRC, CRGY, DC, DMLP, DVN and 7 more
U.S. Forest Service
competes withnamed as a riskAny substantial increase in federal timber sales could materially increase the regional supply of harvestable timber, depress timber prices, intensify competition, and adversely affect our results of operations and cash flows.Risk factors (Item 1A)
Weyerhaeuser Company
competes withWe compete with numerous large and small privately held timber companies, as well as several publicly traded firms.Business (Item 1)
Also named by BLDR
Places
New Zealand
77% interestIn June 2025, we completed the sale of our 77% interest in the New Zealand joint venture.Business (Item 1)
U.S. South
concentrated in · 1.69 million acresAs of December 31, 2025, we owned or leased under long-term agreements approximately 2.0 million acres of timberlands located in the U.S. South (1.69 million acres) and U.S. Pacific Northwest (307,000 acres).Business (Item 1)
Also named by WY
U.S. Pacific Northwest
operates in · 307,000 acresAs of December 31, 2025, our Pacific Northwest timberlands consisted of approximately 307,000 acres located in Oregon and Washington, of which approximately 244,000 acres were designated as productive acres, meaning land that is capable of growing merchantable timber and where the harvesting of timber is not constrained by physical, environmental or regulatory restrictions.Business (Item 1)
Also named by ALK
Florida
operates innamed as a riskIn addition, anti-development groups are active, especially in Florida and Washington, in filing litigation to oppose particular entitlement activities and development projects, and in seeking legislation and other anti-development limitations on real estate development activities.Risk factors (Item 1A)
Also named by ABR, ALLY, AN, AXP, AZO, BBY, BJ, BRO and 54 more
Idaho
operates innamed as a riskOur financial performance in Idaho is particularly sensitive to changes in timber supply and pricing, and future policy shifts or expanded federal harvesting could have a negative impact on our business.Risk factors (Item 1A)
Port Gamble, Washington
named as a riskWe have been identified as a “potentially liable party” at the Port Gamble site and are presently working on cleanup and remediation under the Washington Model Toxics Control Act, as well as the federal Comprehensive Environmental Response, Compensation and Liability Act programs.Business (Item 1)
Pacific Rim
earns fromOur product mix in the Pacific Northwest is heavily weighted to sawtimber, which is sold to domestic wood products facilities as well as exported primarily to Pacific Rim markets.Business (Item 1)
Hazards
Wildfire, hurricanes and natural disasters
named as a riskAs is typical in the forestry industry, we do not maintain insurance for any loss to our timber, including losses due to fire and these other causes.Risk factors (Item 1A)
Prolonged wet weather in the U.S. South
named as a riskWhile our results are generally not significantly impacted by seasonality, severe or prolonged wet weather in the U.S. South can hinder harvesting access, temporarily reducing supply and strengthening local prices.Business (Item 1)
Commodities and inputs
SOFR
exposed to its price · $600 million of variable-rate debtAs of December 31, 2025, we had $600 million of variable-rate debt outstanding, which was fully hedged by interest rate swaps with an aggregate notional amount of $600 million.Market risk (Item 7A)
Also named by AAP, AIOT, APG, APH, ARES, AXON, BGC, BR and 82 more
Lumber
exposed to its pricenamed as a riskIn our timber business, our sawlog price realizations in Idaho are directly influenced by the fluctuation in lumber prices as we index a significant portion of these sawlogs under long-term supply agreements on a four-week lag to lumber prices.Risk factors (Item 1A)
Also named by BLDR, DHI, GHC, HD, HHH, KIM, LEN, LOW and 11 more
Pulpwood
exposed to its pricenamed as a riskDeclining demand for paper products has led to closures and curtailments of containerboard and pulp mill, reducing demand and pricing for pulpwood and wood chips in certain regions.Risk factors (Item 1A)
Energy and fuel
exposed to its pricenamed as a riskEnergy costs are a significant operating expense for logging and hauling contractors who support us and the customers of our wood products and standing timber.Risk factors (Item 1A)
Regulators
Washington State Department of Ecology
subject tonamed as a riskIn December 2013, Pope Resources and DOE entered into a consent decree that included a cleanup action plan (“CAP”) requiring the removal of docks and pilings, excavation and backfilling of intertidal areas, subtidal dredging and monitoring, and other specific remediation steps.Business (Item 1)
Laws and programs
U.S. import tariffs
subject tonamed as a riskOur wood products operations are particularly impacted, as some specialized equipment and parts are sourced from outside the U.S.Risk factors (Item 1A)
Also named by AOS, APLD, BJ, BMI, CAVA, CVLG, CVS, DKS and 18 more
Endangered Species Act
subject tonamed as a riskA number of species that naturally live on or near our timberlands, including, among others, the northern spotted owl, marbled murrelet, several species of salmon and trout in the Pacific Northwest, and the red cockaded woodpecker, red hills salamander, Louisiana pine snake and eastern indigo snake in the Southeast, are protected under the Federal Endangered Species Act (the “ESA”) or similar U.S. federal and state laws.Risk factors (Item 1A)
Also named by CHRD, CNX, CRGY, CTVA, DC, FANG, KGS, LB and 4 more
Washington Forest Practices Act
subject tonamed as a riskFor example, in Washington State, we are required to file a Forest Practice Application for each unit of timberland to be harvested.Risk factors (Item 1A)
Washington riparian buffer regulations
subject tonamed as a riskSimilarly, proposed regulatory changes in Washington would result in the addition of significant buffers and riparian management zones adjacent to streams, which would reduce the areas within which we may harvest.Risk factors (Item 1A)
REIT requirements (Internal Revenue Code)
subject tonamed as a riskIf in any taxable year we fail to qualify as a REIT and are not entitled to relief under the Code, we will not be allowed a deduction for dividends paid to shareholders in computing our taxable income and we will be subject to U.S. federal income tax on our REIT taxable income.Risk factors (Item 1A)
Sustainable Forestry Initiative
subject toWe manage our U.S. timberlands in accordance with the requirements of the Sustainable Forestry Initiative® (“SFI”) program, which consists of a comprehensive system of environmental principles, objectives and performance measures that combine the perpetual growing and harvesting of trees with the protection of wildlife, plants, soil and water quality.Business (Item 1)