Debt (Tables)

12 Months Ended

Dec. 31, 2011

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Rayonier’s debt consisted of the following at December 31, 2011 and 2010:

	2011			2010
Senior Exchangeable Notes due 2012 at a fixed interest rate of 3.75% (a)	$	294,622		$	288,135
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% (a)	163,525			161,358
Installment note due 2011 at a fixed interest rate of 8.49% (retired in December 2011)	—			93,057
Installment note due 2014 at a fixed interest rate of 8.64%	112,500			112,500
Mortgage notes due 2017 at fixed interest rates of 4.35% (b)	88,582			—
Pollution control and solid waste bonds due 2012-2020 at variable interest rates of 1.60% to 1.65% at December 31, 2011	38,110			38,110
Term loan due 2015 at a variable interest rate of 3.02% at December 31, 2010 (retired in March 2011)	—			75,000
Revolving credit facility borrowings due 2016 at variable interest rates of 1.34% to 1.35% at December 31, 2011	150,000			—
Total debt	847,339			768,160
Less: Current maturities of long-term debt	(28,110		)	(93,057		)
Long-term debt	$	819,229		$	675,103

Schedule of Maturities of Long-term Debt [Table Text Block]

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

2012 (a)	$	323,110
2013	—
2014	112,500
2015	172,500
2016	150,000
Thereafter	99,000
Total Debt	$	857,110

(a) Our Senior Exchangeable Notes maturing in 2012 were discounted by $5.4 million and $11.9 million as of December 31, 2011 and 2010, respectively, but upon maturity the liability will be $300.0 million. $295 million of these notes are included in long-term debt due to the ability and intent of the company to refinance them on a long-term basis. See the paragraph below regarding available borrowings under the revolving credit facility. Our Senior Exchangeable Notes maturing in 2015 were discounted by $9.0 million and $11.1 million as of December 31, 2011 and 2010, but upon maturity the liability will be $172.5 million.

(b) The mortgage notes due in 2017 were recorded at fair value, which increased the book value by $4.6 million as of December 31, 2011. Upon maturity the liability will be $84.0 million.

Schedule of Convertible Debt [Table Text Block]

The amounts related to convertible debt in the Consolidated Balance Sheets as of December 31, 2011 and 2010 are as follows:

	2011			2010
Liabilities:
Principal amount of debt
4.50% Senior Exchangeable Notes	$	172,500		$	172,500
3.75% Senior Exchangeable Notes	300,000			300,000
Unamortized discount
4.50% Senior Exchangeable Notes	(8,975		)	(11,142		)
3.75% Senior Exchangeable Notes	(5,378		)	(11,865		)
Net carrying amount of debt	$	458,147		$	449,493
Equity:
Common stock	$	28,092		$	28,092

Schedule of Interest Related to Convertible Debt [Table Text Block]

The amount of interest related to the convertible debt recognized in the Consolidated Statements of Income and Comprehensive Income for the three years ended December 31 is as follows:

	2011		2010		2009
Contractual interest coupon
4.50% Senior Exchangeable Notes	$	7,763	$	7,763	$	2,911
3.75% Senior Exchangeable Notes	11,250		11,250		11,250
Amortization of debt discount
4.50% Senior Exchangeable Notes	2,167		2,045		750
3.75% Senior Exchangeable Notes	6,487		6,115		5,767
Total interest expense recognized	$	27,667	$	27,173	$	20,678

Schedule of Debt Covenants [Table Text Block]

The covenants listed below, which are the most significant financial covenants in effect as of December 31, 2011, are calculated on a trailing 12-month basis:

	Covenant Requirement		Actual ratio		Favorable
Covenant EBITDA to consolidated interest expense should not be less than	2.50 to 1		9.79 to 1		7.29
Total debt to Covenant EBITDA should not exceed	4.00 to 1		1.72 to 1		2.28
RFR cash flow available for fixed charges to RFR fixed charges should not be less than	2.50 to 1		14.98 to 1		12.48
Dividends paid should not exceed 90 percent of Covenant FFO	90	%	46	%	44	%