CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 132,362	$ 68,735
Accounts receivable, less allowance for doubtful accounts of $25 and $24	28,295	27,127
Inventory (Note 17)	13,093	14,518
Prepaid expenses	14,941	14,728
Other current assets	384	867
Total current assets	189,075	125,975
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,355,581	2,482,047
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 7)	88,833	81,791
PROPERTY, PLANT AND EQUIPMENT
Land	4,131	4,131
Buildings	22,933	23,095
Machinery and equipment	4,346	4,339
Construction in progress	349	348
Total property, plant and equipment, gross	31,759	31,913
Less — accumulated depreciation	(9,950)	(9,662)
Total property, plant and equipment, net	21,809	22,251
RESTRICTED CASH (NOTE 18)	475	1,233
RIGHT-OF-USE ASSETS (NOTE 3)	91,953	99,942
OTHER ASSETS	40,024	47,757
TOTAL ASSETS	2,787,750	2,860,996
CURRENT LIABILITIES
Accounts payable	20,837	18,160
Current maturities of long-term debt (Note 6)	0	82,000
Accrued taxes	3,416	3,032
Accrued payroll and benefits	3,802	8,869
Accrued interest	8,042	5,205
Deferred revenue	6,718	11,440
Other current liabilities	26,459	22,480
Total current liabilities	69,274	151,186
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS (NOTE 6)	1,055,270	973,129
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 15)	24,658	25,311
LONG-TERM LEASE LIABILITY (NOTE 3)	83,358	90,481
OTHER NON-CURRENT LIABILITIES	155,522	83,247
COMMITMENTS AND CONTINGENCIES (NOTES 8 and 10)
SHAREHOLDERS’ EQUITY
Common Shares, 480,000,000 shares authorized,129,181,239 and 129,331,069 shares issued and outstanding	889,753	888,177
Retained earnings	570,895	583,006
Accumulated other comprehensive loss (Note 19)	(147,255)	(31,202)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,313,393	1,439,981
Noncontrolling interest	86,275	97,661
TOTAL SHAREHOLDERS’ EQUITY	1,399,668	1,537,642
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,787,750	$ 2,860,996