CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 56,946	$ 148,374
Accounts receivable, less allowance for doubtful accounts of $24 and $8	26,059	26,151
Inventory (Note 17)	8,352	15,703
Prepaid expenses	14,894	17,016
Other current assets	279	609
Total current assets	106,530	207,853
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,408,310	2,401,327
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 7)	89,456	85,609
PROPERTY, PLANT AND EQUIPMENT
Land	4,131	4,131
Buildings	22,345	22,503
Machinery and equipment	3,680	3,534
Construction in progress	1,223	567
Total property, plant and equipment, gross	31,379	30,735
Less — accumulated depreciation	(9,179)	(7,984)
Total property, plant and equipment, net	22,200	22,751
RESTRICTED CASH (NOTE 18)	2,988	8,080
RIGHT-OF-USE ASSETS (NOTE 3)	97,432	0
OTHER ASSETS	40,162	55,046
TOTAL ASSETS	2,767,078	2,780,666
CURRENT LIABILITIES
Accounts payable	19,556	18,019
Accrued taxes	8,096	3,178
Accrued payroll and benefits	6,559	10,416
Accrued interest	7,976	5,007
Deferred revenue	15,320	10,447
Other current liabilities	26,262	16,474
Total current liabilities	83,769	63,541
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS (NOTE 6)	972,989	972,567
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 15)	23,953	29,800
LONG-TERM LEASE LIABILITY (NOTE 3)	88,387	0
OTHER NON-CURRENT LIABILITIES	82,359	60,208
COMMITMENTS AND CONTINGENCIES (NOTES 8 and 10)
SHAREHOLDERS’ EQUITY
Common Shares, 480,000,000 shares authorized,129,311,893 and 129,488,675 shares issued and outstanding	886,229	884,263
Retained earnings	602,051	672,371
Accumulated other comprehensive (loss) income (Note 19)	(63,216)	239
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,425,064	1,556,873
Noncontrolling interest	90,557	97,677
TOTAL SHAREHOLDERS’ EQUITY	1,515,621	1,654,550
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,767,078	$ 2,780,666