Corporate and other operating expenses of $10 million and $35 million for fourth quarter and full year 2012, respectively, were $2 million and $6 million above prior year periods (excluding the previously noted disposition reserve increase). The increases are primarily due to higher benefit and business development costs. Interest and other expenses for the fourth quarter and full year were lower by $4 million and $6 million, respectively, due to higher capitalized interest on the CSE project and lower borrowing rates.Effective tax rates for the quarter and full year were 29.4 percent and 24.1 percent compared to 18.2 percent and 9.9 percent in 2011, respectively. The effective tax rates for 2012 and 2011 reflect several non-routine items.
Rayonier Reports Fourth Quarter And Full Year 2012 Results
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