For the first nine months, net income attributable to shareholders was $292 million, or $2.23 per share, compared to $203 million, or $1.58 per share, in the prior year period. Pro forma net income1 was $232 million, or $1.77 per share, compared to $198 million, or $1.54 per share, in 2012.
Cash provided by operating activities was $334 million for the first nine months of 2013 compared to $354 million for the prior year period. Year-to-date cash available for distribution was $222 million versus $261 million in the first nine months of 2012. The 2013 cash flow metrics are below the prior year periods primarily due to a tax payment of $70 million to exchange the alternative fuel mixture credit for additional cellulosic biofuel producer credit.
“We are pleased to report solid operating results this quarter in line with our expectations. Forest Resources benefited from improved prices reflecting the early stages of a U.S. housing recovery, strong export and domestic markets in the Pacific Northwest and New Zealand, and favorable weather-related supply conditions in our Atlantic region. In Performance Fibers, results were impacted as expected by the planned extended shutdown of the Jesup Mill and start-up costs associated with the successful completion in July of our Cellulose Specialties Expansion (CSE) project," said Paul G. Boynton, Chairman, President and CEO.
Rayonier is a leading international forest products company with three core businesses: Forest Resources, Real Estate and Performance Fibers. The company owns, leases or manages 2.7 million acres of timber and land in the United States and New Zealand.