Rayonier - Best-in-Class, Pure-Play Timber REIT
Reconciliation of Net Income to Adjusted EBITDA
($ in millions)
Net income
Interest, net
Income tax expense
Depreciation, depletion and amortization
Non-cash cost of land and improved development
Costs related to shareholder litigation (1)
Gain on foreign currency derivatives
Large Dispositions
(1)
(1)
Costs related to the spin-off of Performance Fibers (1)
Internal review and restatement costs
(1)
Gain on Consolidation of New Zealand JV (1)
Net income from discontinued operations'
Adjusted EBITDA
(1)
(1)
(1) Non-GAAP measure or pro forma item (see Appendix for definitions and reconciliations).
Q2 YTD
2017
2016
2015
2014
2013
2012
$65.9
$217.8
$43.9
$97.8
$373.8
16.3
33.0
34.7
49.7
38.5
$278.7
42.3
13.7
5.0
(0.9)
(9.6)
(35.7)
(27.1)
67.9
115.1
113.7
120.0
116.9
84.6
7.4
11.7
12.5
13.2
10.2
4.7
0.7
2.2
4.1
(1.2)
(28.2)
(143.9)
(21.4)
(25.7)
3.8
3.4
(16.2)
(43.4)
(267.9)
(261.8)
$143.7
$239.7
$208.0
$213.5
$193.9
$121.4
Rayonier
51
Investor Relations | August 2017View entire presentation