DEBT (Tables)

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Rayonier’s debt consisted of the following at March 31, 2016:

	March 31, 2016
Senior Notes due 2022 at a fixed interest rate of 3.75%		$325,000
Term Credit Agreement borrowings due 2024 at a variable interest rate of 2.1% at March 31, 2016	350,000
Revolving Credit Facility borrowings due 2020 at a variable interest rate of 1.7% at March 31, 2016	105,000
Mortgage notes due 2017 at fixed interest rates of 4.35%	42,537
Solid waste bond due 2020 at a variable interest rate of 1.7% at March 31, 2016	15,000
New Zealand JV Working Capital Facility due 2016 at a variable interest rate of 3.2% at March 31, 2016	12,211
New Zealand JV noncontrolling interest shareholder loan at 0% interest rate	23,095
Total debt	872,843
Less: Current maturities of long-term debt	(12,211		)
Less: Deferred financing costs	(3,203		)
Long-term debt, net of deferred financing costs		$857,429

Schedule of Maturities of Long-Term Debt

Principal payments due during the next five years and thereafter are as follows:

2016		$12,211
2017 (a)	42,000
2018	—
2019	—
2020	120,000
Thereafter	698,095
Total Debt		$872,306

(a) The mortgage notes due in 2017 were recorded at a premium of $0.5 million as of March 31, 2016. Upon maturity the liability will be $42 million.