CONSOLIDATING FINANCIAL STATEMENTS (Tables)

3 Months Ended

Mar. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Consolidating Statements of (Loss) Income and Comprehensive (Loss) Income

	CONDENSED CONSOLIDATING STATEMENTS OF INCOME  AND COMPREHENSIVE INCOME
	For the Three Months Ended March 31, 2017
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	—			—				$186,512		—				$186,512
Costs and Expenses
Cost of sales	—			—			136,413			—			136,413
Selling and general expenses	—			3,536			6,054			—			9,590
Other operating expense (income), net	—			111			(8,863		)	—			(8,752		)
	—			3,647			133,604			—			137,251
OPERATING (LOSS) INCOME	—			(3,647		)	52,908			—			49,261
Interest expense	(3,139		)	(4,858		)	(418		)	—			(8,415		)
Interest and miscellaneous income (expense), net	2,202			689			(2,373		)	—			518
Equity in income from subsidiaries	34,780			42,744			—			(77,524		)	—
INCOME BEFORE INCOME TAXES	33,843			34,928			50,117			(77,524		)	41,364
Income tax expense	—			(148		)	(6,133		)	—			(6,281		)
NET INCOME	33,843			34,780			43,984			(77,524		)	35,083
Less: Net income attributable to noncontrolling interest	—			—			1,240			—			1,240
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	33,843			34,780			42,744			(77,524		)	33,843
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment, net of income tax	2,002			—			2,432			(2,002		)	2,432
Cash flow hedges, net of income tax	2,572			2,633			(80		)	(2,572		)	2,553
Amortization of pension and postretirement plans, net of income tax	116			116			—			(116		)	116
Total other comprehensive income	4,690			2,749			2,352			(4,690		)	5,101
COMPREHENSIVE INCOME	38,533			37,529			46,336			(82,214		)	40,184
Less: Comprehensive income attributable to noncontrolling interest	—			—			1,651			—			1,651
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.		$38,533			$37,529			$44,685			($82,214	)		$38,533

	CONDENSED CONSOLIDATING STATEMENTS OF INCOME  AND COMPREHENSIVE INCOME (LOSS)
	For the Three Months Ended March 31, 2016
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	—			—				$134,843		—				$134,843
Costs and Expenses
Cost of sales	—			—			107,971			—			107,971
Selling and general expenses	—			2,938			6,841			—			9,779
Other operating (income) expense, net	—			(1,155		)	(4,749		)	—			(5,904		)
	—			1,783			110,063			—			111,846
OPERATING (LOSS) INCOME	—			(1,783		)	24,780			—			22,997
Interest expense	(3,139		)	(2,144		)	(1,815		)	—			(7,098		)
Interest and miscellaneous income (expense), net	2,038			681			(4,341		)	—			(1,622		)
Equity in income from subsidiaries	15,573			18,997			—			(34,570		)	—
INCOME BEFORE INCOME TAXES	14,472			15,751			18,624			(34,570		)	14,277
Income tax (expense) benefit	—			(178		)	959			—			781
NET INCOME	14,472			15,573			19,583			(34,570		)	15,058
Less: Net income attributable to noncontrolling interest	—			—			586			—			586
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	14,472			15,573			18,997			(34,570		)	14,472
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net of income tax	7,288			(4,606		)	7,410			(7,288		)	2,804
Cash flow hedges, net of income tax	(13,923		)	(14,886		)	1,112			13,923			(13,774		)
Amortization of pension and postretirement plans, net of income tax	617			617			—			(617		)	617
Total other comprehensive (loss) income	(6,018		)	(18,875		)	8,522			6,018			(10,353		)
COMPREHENSIVE INCOME (LOSS)	8,454			(3,302		)	28,105			(28,552		)	4,705
Less: Comprehensive loss attributable to noncontrolling interest	—			—			(3,749		)	—			(3,749		)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC.		$8,454			($3,302	)		$31,854			($28,552	)		$8,454

Schedule of Condensed Consolidating Balance Sheets

	CONDENSED CONSOLIDATING BALANCE SHEETS
	As of March 31, 2017
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents		$157,916			$18,524			$42,917		—				$219,357
Accounts receivable, less allowance for doubtful accounts	—			946			32,488			—			33,434
Insurance settlement receivable	73,000			—			—			—			73,000
Inventory	—			—			27,155			—			27,155
Prepaid expenses	—			1,839			12,884			—			14,723
Assets held for sale	—			—			9,006			—			9,006
Other current assets	—			20			8,227			—			8,247
Total current assets	230,916			21,329			132,677			—			384,922
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—			—			2,280,814			—			2,280,814
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	—			—			73,713			—			73,713
NET PROPERTY, PLANT AND EQUIPMENT	—			141			16,708			—			16,849
RESTRICTED CASH	—			—			111,276			—			111,276
INVESTMENT IN SUBSIDIARIES	1,434,995			2,715,947			—			(4,150,942		)	—
INTERCOMPANY RECEIVABLE	29,866			(615,867		)	586,001			—			—
OTHER ASSETS	2			10,780			40,554			—			51,336
TOTAL ASSETS		$1,695,779			$2,132,330			$3,241,743			($4,150,942	)		$2,918,910
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	—				$4,990			$25,966		—				$30,956
Insurance settlement payable	73,740			—			—			—			73,740
Current maturities of long-term debt	31,601			—			11,325			—			42,926
Accrued taxes	—			28			3,320			—			3,348
Accrued payroll and benefits	—			1,423			1,656			—			3,079
Accrued interest	6,094			1,973			254			—			8,321
Other current liabilities	—			473			20,099			—			20,572
Total current liabilities	111,435			8,887			62,620			—			182,942
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	291,557			663,425			73,086			—			1,028,068
PENSION AND OTHER POSTRETIREMENT BENEFITS	—			32,402			(684		)	—			31,718
OTHER NON-CURRENT LIABILITIES	—			11,584			17,304			—			28,888
INTERCOMPANY PAYABLE	(267,713		)	(18,963		)	286,676			—			—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,560,500			1,434,995			2,715,947			(4,150,942		)	1,560,500
Noncontrolling interest	—			—			86,794			—			86,794
TOTAL SHAREHOLDERS’ EQUITY	1,560,500			1,434,995			2,802,741			(4,150,942		)	1,647,294
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$1,695,779			$2,132,330			$3,241,743			($4,150,942	)		$2,918,910

	CONDENSED CONSOLIDATING BALANCE SHEETS
	As of December 31, 2016
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents		$21,453			$9,461			$54,995		—				$85,909
Accounts receivable, less allowance for doubtful accounts	—			2,991			17,673			—			20,664
Inventory	—			—			21,379			—			21,379
Prepaid expenses	—			427			11,380			—			11,807
Assets held for sale	—			—			23,171			—			23,171
Other current assets	—			236			1,638			—			1,874
Total current assets	21,453			13,115			130,236			—			164,804
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—			—			2,291,015			—			2,291,015
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	—			—			70,374			—			70,374
NET PROPERTY, PLANT AND EQUIPMENT	—			177			13,857			—			14,034
RETRICTED CASH	—			—			71,708			—			71,708
INVESTMENT IN SUBSIDIARIES	1,422,081			2,671,428			—			(4,093,509		)	—
INTERCOMPANY RECEIVABLE	26,472			(611,571		)	585,099			—			—
OTHER ASSETS	2			46,846			26,977			—			73,825
TOTAL ASSETS		$1,470,008			$2,119,995			$3,189,266			($4,093,509	)		$2,685,760
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	—				$1,194			$21,143		—				$22,337
Current maturities of long-term debt	31,676			—			—			—			31,676
Accrued taxes	—			(111		)	2,768			—			2,657
Accrued payroll and benefits	—			5,013			4,264			—			9,277
Accrued interest	3,047			2,040			253			—			5,340
Other current liabilities	—			165			20,514			—			20,679
Total current liabilities	34,723			8,301			48,942			—			91,966
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	291,390			663,343			75,472			—			1,030,205
PENSION AND OTHER POSTRETIREMENT BENEFITS	—			32,541			(685		)	—			31,856
OTHER NON-CURRENT LIABILITIES	—			12,690			22,291			—			34,981
INTERCOMPANY PAYABLE	(267,715		)	(18,961		)	286,676			—			—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,411,610			1,422,081			2,671,428			(4,093,509		)	1,411,610
Noncontrolling interest	—			—			85,142			—			85,142
TOTAL SHAREHOLDERS’ EQUITY	1,411,610			1,422,081			2,756,570			(4,093,509		)	1,496,752
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$1,470,008			$2,119,995			$3,189,266			($4,093,509	)		$2,685,760

Schedule of Condensed Consolidating Statements of Cash Flows

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	For the Three Months Ended March 31, 2017
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments		Total Consolidated
CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES		($1,192	)		$36,931			($1,796	)	—			$33,943
INVESTING ACTIVITIES
Capital expenditures	—			—			(14,362		)	—		(14,362		)
Real estate development investments	—			—			(2,185		)	—		(2,185		)
Purchase of timberlands	—			—			(11,293		)	—		(11,293		)
Net proceeds from large disposition	—			—			42,034			—		42,034
Rayonier office building under construction	—			—			(2,604		)	—		(2,604		)
Change in restricted cash	—			—			(39,568		)	—		(39,568		)
Investment in subsidiaries	—			2,636			—			(2,636	)	—
Other	—			—			(5,617		)	—		(5,617		)
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	—			2,636			(33,595		)	(2,636	)	(33,595		)
FINANCING ACTIVITIES
Issuance of debt	—			15,000			14,719			—		29,719
Repayment of debt	—			(15,000		)	(5,530		)	—		(20,530		)
Dividends paid	(30,618		)	—			—			—		(30,618		)
Proceeds from the issuance of common shares	2,251			—			—			—		2,251
Issuance of shares under equity offering	152,345			—			—			—		152,345
Intercompany distributions	13,677			(30,504		)	14,191			2,636		—
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	137,655			(30,504		)	23,380			2,636		133,167
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			(67		)	—		(67		)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	136,463			9,063			(12,078		)	—		133,448
Balance, beginning of year	21,453			9,461			54,995			—		85,909
Balance, end of period		$157,916			$18,524			$42,917		—			$219,357

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	For the Three Months Ended March 31, 2016
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments		Total Consolidated
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES		$2,332			($3,624	)		$32,327		—			$31,035
INVESTING ACTIVITIES
Capital expenditures	—			—			(13,298		)	—		(13,298		)
Real estate development investments	—			—			(1,685		)	—		(1,685		)
Purchase of timberlands	—			—			(14,323		)	—		(14,323		)
Rayonier office building under construction	—			—			(186		)	—		(186		)
Change in restricted cash	—			—			10,613			—		10,613
Investment in subsidiaries	—			1,136			—			(1,136	)	—
Other	—			—			(1,404		)	—		(1,404		)
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			1,136			(20,283		)	(1,136	)	(20,283		)
FINANCING ACTIVITIES
Issuance of debt	—			213,000			72,552			—		285,552
Repayment of debt	—			(25,000		)	(215,752		)	—		(240,752		)
Dividends paid	(30,675		)	—			—			—		(30,675		)
Proceeds from the issuance of common shares	18			—			—			—		18
Repurchase of common shares	(690		)	—			—			—		(690		)
Intercompany distributions	35,332			(170,861		)	134,393			1,136		—
Other	(16		)	—			—			—		(16		)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	3,969			17,139			(8,807		)	1,136		13,437
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			238			—		238
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	6,301			14,651			3,475			—		24,427
Balance, beginning of year	2,472			13,217			36,088			—		51,777
Balance, end of period		$8,773			$27,868			$39,563		—			$76,204