Incentive Stock Plans (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs

A summary of the Company’s stock-based compensation cost is presented below:

	2015		2014		2013
Selling and general expenses		$3,752		$7,100		$10,700
Cost of sales	635		678		942
Timber and Timberlands, net (a)	97		91		68
Total stock-based compensation		$4,484		$7,869		$11,710
Tax benefit recognized related to stock-based compensation expense		$302		$1,714		$3,077

(a) Represents amounts capitalized as part of the overhead allocation of timber-related costs.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of the Company’s restricted shares is presented below:

	2015		2014		2013
Restricted shares granted	96,088		186,783		33,607
Weighted average price of restricted shares granted		$26.28		$36.42		$57.54
Intrinsic value of restricted stock outstanding (a)	4,434		5,142		1,652
Grant date fair value of restricted stock vested	2,632		1,318		1,266
Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on restricted shares vested		$122		$24		$277

(a) Intrinsic value of restricted stock outstanding is based on the market price of the Company’s stock at December 31, 2015.

	2015
	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested Restricted Shares at January 1,	184,023				$37.53
Granted	96,088			26.28
Vested	(76,421	)		34.45
Cancelled	(3,951	)		40.88
Non-vested Restricted Shares at December 31,	199,739		(a)		$33.09

(a) Represents all Rayonier restricted shares outstanding as of December 31, 2015, including restricted share awards held by Rayonier Advanced Materials employees.

Schedule of Nonvested Performance-based Units Activity

A summary of the Company’s performance share units is presented below:

	2015		2014		2013
Common shares of Company stock reserved for performance shares granted during year	219,844		130,164		276,240
Weighted average fair value of performance share units granted		$29.62		$40.33		$59.16
Intrinsic value of outstanding performance share units (a)	3,822		5,840		22,092
Fair value of performance shares vested	—		—		6,961
Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on performance shares vested	—			$1,834		$11,048

(a) Intrinsic value of outstanding performance share units is based on the market price of the Company's stock at December 31, 2015.

	2015
	Number of Units			Weighted Average Grant Date Fair Value
Outstanding Performance Share units at January 1,	209,024				$51.01
Granted	109,922			29.62
Other Cancellations/Adjustments	(146,790	)	(a)	56.00
Outstanding Performance Share units at December 31,	172,156				$33.12

(a) Includes primarily 2012 performance shares issued to Rayonier and Rayonier Advanced Material employees that did not meet the minimum performance requirement for vesting.

Expected volatility was estimated using daily returns on the Company’s common stock for the three-year period ending on the grant date. The risk-free rate was based on the 3-year U.S. treasury rate on the date of the award. The dividend yield was not used to calculate fair value as awards granted receive dividend equivalents. The following table provides an overview of the assumptions used in calculating the fair value of the awards granted for the three years ended December 31, 2015:

	2015		2014 (a)		2013
Expected volatility	21.9	%	19.7	%	23.2	%
Risk-free rate	0.9	%	0.7	%	0.4	%

(a) Represents assumptions used in the July 2014 valuation of re-issued 2014 performance share units with a remaining term of 2.5 years. The initial fair value of the 2014 awards assumed an expected volatility of 22.8% and a risk-free rate of 0.8%.

Schedule of Share-based Compensation, Stock Options, Activity

The following table provides an overview of the weighted average assumptions and related fair value calculations of options granted for the two years ended December 31, 2014 as no options were granted during the year ended December 31, 2015:

	2014 (a)			2013
Expected volatility	39.3		%	39.0		%
Dividend yield	4.6		%	3.4		%
Risk-free rate	2.2		%	1.0		%
Expected life (in years)	6.3			6.3
Fair value per share of options granted (b)		$10.58			$14.01
Fair value of options granted (in millions)		$3.2			$2.7

(a) The majority of 2014 stock option awards were granted prior to the spin-off. As such, the weighted average assumptions and fair values reflect pre-spin information, including dividends, stock prices and grants to Rayonier Advanced Materials employees in addition to Rayonier employees.

(b) The fair value per share of each option grant was adjusted at the spin-off to preserve the aggregate value of the original Rayonier stock option. The adjusted weighted average fair value per share applied to Rayonier employee awards was $8.23 for 2014 grants and $10.70 for 2013 grants.

A summary of the status of the Company’s stock options as of and for the year ended December 31, 2015 is presented below. The information reflects options in Rayonier common shares, including those awards held by Rayonier Advanced Materials employees.

	2015
	Number of Shares		Weighted Average Exercise Price (per common share)		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Options outstanding at January 1,	1,369,900			$27.21
Granted	—		—
Exercised	(113,082	)	18.95
Cancelled or expired	(37,084	)	32.86
Options outstanding at December 31,	1,219,734			$27.80	5.3		$1,380
Options exercisable at December 31,	1,003,510			$26.63	4.7		$1,380

A summary of additional information pertaining to the Company’s stock options is presented below:

	2015		2014		2013
Intrinsic value of options exercised (a)		$773		$4,044		$12,263
Fair value of options vested	1,938		3,054		2,558
Cash received from exercise of options	2,117		5,579		10,101

(a) Intrinsic value of options exercised is the amount by which the fair value of the stock on the exercise date exceeded the exercise price of the option.