Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Rayonier’s debt consisted of the following at December 31, 2015 and 2014:

	2015		2014
Senior Notes due 2022 at a fixed interest rate of 3.75%		$325,000		$325,000
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50%	—		129,706
Mortgage notes due 2017 at fixed interest rates of 4.35% (a)	42,638		53,801
Solid waste bonds due 2020 at a variable interest rate of 1.3% at December 31, 2015	15,000		15,000
Revolving Credit Facility borrowings at a variable interest rate of 1.34% at December 31, 2014	—		16,000
Revolving Credit Facility borrowings due 2020 at a variable interest rate of 1.6% at December 31, 2015	97,000		—
Term Credit Agreement borrowings due 2024 at a variable interest rate of 1.9% at December 31, 2015	170,000		—
New Zealand JV Revolving Credit Facility due 2016 at a variable interest rate of 3.54% at December 31, 2015	160,999		184,099
New Zealand JV Noncontrolling interest shareholder loan at 0% interest rate	23,242		27,949
Total debt	833,879		751,555
Less: Current maturities of long-term debt	—		(129,706		)
Long-term debt		$833,879		$621,849

Schedule of Maturities of Long-term Debt

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

2016 (a)		$160,999
2017 (b)	42,000
2018	—
2019	—
2020	112,000
Thereafter	518,242
Total debt		$833,241

(a) The Company will refinance this debt in 2016 with proceeds from the term loan facility.

(b) The mortgage notes due in 2017 were recorded at a premium of $0.6 million and $1.3 million as of December 31, 2015 and 2014, respectively. Upon maturity the liability will be $42 million.

Schedule of Convertible Debt

The amounts related to convertible debt in the Consolidated Balance Sheets as of December 31, 2014 are as follows:

	2014
Liabilities:
Principal amount of debt
4.50% Senior Exchangeable Notes		$130,973
Unamortized discount (a)
4.50% Senior Exchangeable Notes	(1,267		)
Net carrying amount of debt		$129,706
Equity:
Common stock		$8,850

(a) The discount for the 4.50% notes was amortized through August 2015.

Schedule of Interest Related to Convertible Debt

The amount of interest related to the convertible debt recognized in the Consolidated Statements of Income and Comprehensive Income for the years December 31, 2015, 2014 and 2013 is as follows:

	2015		2014		2013
Contractual interest coupon
4.50% Senior Exchangeable Notes		$3,438		$5,930		$7,271
Amortization of debt discount
4.50% Senior Exchangeable Notes	1,267		1,957		2,281
Total interest expense recognized		$4,705		$7,887		$9,552