COMMITMENTS (Tables)

9 Months Ended

Sep. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

At September 30, 2014, the future minimum payments under non-cancellable operating and timberland leases were as follows:

	Operating Leases		Timberland Leases (a)		Purchase Obligations (b)		Total
Remaining 2014	$	620	$	3,003	$	489	$	4,112
2015	1,941		9,798		592		12,331
2016	1,464		9,443		204		11,111
2017	884		9,255		170		10,309
2018	575		7,644		1,950		10,169
Thereafter	1,689		133,626		4,063		139,378
	$	7,173	$	172,769	$	7,468	$	187,410

(a) The majority of timberland leases are subject to increases or decreases based on either the Consumer Price Index, Producer Price Index or market rates.

(b) Purchase obligations include payments expected to be made on derivative financial instruments held in New Zealand.

Summary of Leased Acres of Land

The following table details the Company’s acres under lease as of September 30, 2014 by type of lease and lease expiration:

(acres in 000s)
Location	Type of Lease	Total	2014 - 2024	2025 - 2034	2035 - 2044	Thereafter
Southern U.S.	Fixed Term	260	176	44	40	—
	Fixed Term with Renewal Option	18	18	—	—	—
New Zealand (a)	CFL - Perpetual	60	37	—	—	23
	CFL - Fixed Term	2	—	—	—	2
	CFL - Terminating	21	—	3	—	18
	Forestry Right	60	17	4	24	15
	Lease	32	23	—	—	9
Total Acres under Long-term Leases		453	271	51	64	67

(a) Represents acres leased by the New Zealand JV, in which Rayonier has a 65 percent interest.