CONSOLIDATING FINANCIAL STATEMENTS (Tables)

6 Months Ended

Jun. 30, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Consolidating Statements of (Loss) Income and Comprehensive (Loss) Income

	CONDENSED CONSOLIDATING STATEMENTS OF (LOSS) INCOME  AND COMPREHENSIVE (LOSS) INCOME
	For the Three Months Ended June 30, 2016
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	—			—				$261,550		—				$261,550
Costs and Expenses
Cost of sales	—			—			138,194			—			138,194
Selling and general expenses	—			2,643			8,609			—			11,252
Other operating expense (income), net	—			1,343			(10,806		)	—			(9,463		)
	—			3,986			135,997			—			139,983
OPERATING (LOSS) INCOME	—			(3,986		)	125,553			—			121,567
Interest expense	(3,139		)	(4,384		)	(438		)	—			(7,961		)
Interest and miscellaneous income (expense), net	2,109			685			(2,545		)	—			249
Equity in income from subsidiaries	110,851			119,275			—			(230,126		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	109,821			111,590			122,570			(230,126		)	113,855
Income tax (expense) benefit	—			(739		)	(1,537		)	—			(2,276		)
NET INCOME	109,821			110,851			121,033			(230,126		)	111,579
Less: Net income attributable to noncontrolling interest	—			—			1,758			—			1,758
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	109,821			110,851			119,275			(230,126		)	109,821
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment, net of income tax	10,941			—			13,219			(10,941		)	13,219
Cash flow hedges, net of income tax	(12,850		)	(14,102		)	1,626			12,850			(12,476		)
Actuarial change and amortization of pension and postretirement plans, net of income tax	632			632			—			(632		)	632
Total other comprehensive (loss) income	(1,277		)	(13,470		)	14,845			1,277			1,375
COMPREHENSIVE INCOME	108,544			97,381			135,878			(228,849		)	112,954
Less: Comprehensive loss attributable to noncontrolling interest	—			—			4,410			—			4,410
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.		$108,544			$97,381			$131,468			($228,849	)		$108,544

	CONDENSED CONSOLIDATING STATEMENTS OF (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME
	For the Three Months Ended June 30, 2015
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	—			—				$115,801		—				$115,801
Costs and Expenses
Cost of sales	—			—			103,689			—			103,689
Selling and general expenses	—			6,330			6,397			—			12,727
Other operating income, net	—			(461		)	(6,677		)	—			(7,138		)
	—			5,869			103,409			—			109,278
OPERATING (LOSS) INCOME	—			(5,869		)	12,392			—			6,523
Interest expense	(3,169		)	(2,540		)	(2,774		)	—			(8,483		)
Interest and miscellaneous income (expense), net	1,871			680			(3,747		)	—			(1,196		)
Equity in income from subsidiaries	(238		)	6,564			—			(6,326		)	—
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(1,536		)	(1,165		)	5,871			(6,326		)	(3,156		)
Income tax benefit (expense)	—			927			(631		)	—			296
NET (LOSS) INCOME	(1,536		)	(238		)	5,240			(6,326		)	(2,860		)
Less: Net loss attributable to noncontrolling interest	—			—			(1,324		)	—			(1,324		)
NET (LOSS) INCOME ATTRIBUTABLE TO RAYONIER INC.	(1,536		)	(238		)	6,564			(6,326		)	(1,536		)
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment, net of income tax	(18,008		)	(18,008		)	(25,395		)	36,016			(25,395		)
Cash flow hedges, net of income tax	(1,896		)	(1,896		)	(2,917		)	3,792			(2,917		)
Actuarial change and amortization of pension and postretirement plans, net of income tax	743			743			(5		)	(738		)	743
Total other comprehensive loss	(19,161		)	(19,161		)	(28,317		)	39,070			(27,569		)
COMPREHENSIVE LOSS	(20,697		)	(19,399		)	(23,077		)	32,744			(30,429		)
Less: Comprehensive loss attributable to noncontrolling interest	—			—			(9,731		)	—			(9,731		)
COMPREHENSIVE LOSS ATTRIBUTABLE TO RAYONIER INC.		($20,697	)		($19,399	)		($13,346	)		$32,744			($20,698	)

Schedule of Condensed Consolidating Balance Sheets

	CONDENSED CONSOLIDATING BALANCE SHEETS
	As of June 30, 2016
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents		$75,357			$11,587			$42,710		—				$129,654
Accounts receivable, less allowance for doubtful accounts	—			1,205			29,371			—			30,576
Inventory	—			—			14,957			—			14,957
Prepaid expenses	—			1,527			11,962			—			13,489
Other current assets	—			246			5,951			—			6,197
Total current assets	75,357			14,565			104,951			—			194,873
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—			—			2,306,105			—			2,306,105
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	—			—			68,164			—			68,164
NET PROPERTY, PLANT AND EQUIPMENT	—			249			8,875			—			9,124
INVESTMENT IN SUBSIDIARIES	1,294,953			2,608,274			—			(3,903,227		)	—
INTERCOMPANY RECEIVABLE	36,674			(616,975		)	580,301			—			—
OTHER ASSETS	3			21,767			32,143			—			53,913
TOTAL ASSETS		$1,406,987			$2,027,880			$3,100,539			($3,903,227	)		$2,632,179
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	—				$2,067			$20,766		—				$22,833
Accrued taxes	—			618			4,953			—			5,571
Accrued payroll and benefits	—			2,479			2,575			—			5,054
Accrued interest	3,046			1,823			305			—			5,174
Other current liabilities	—			265			29,105			—			29,370
Total current liabilities	3,046			7,252			57,704			—			68,002
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	322,882			663,242			66,183			—			1,052,307
PENSION AND OTHER POSTRETIREMENT BENEFITS	—			35,209			(684		)	—			34,525
OTHER NON-CURRENT LIABILITIES	—			46,185			10,640			—			56,825
INTERCOMPANY PAYABLE	(255,715		)	(18,961		)	274,676			—			—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,336,774			1,294,953			2,608,274			(3,903,227		)	1,336,774
Noncontrolling interest	—			—			83,746			—			83,746
TOTAL SHAREHOLDERS’ EQUITY	1,336,774			1,294,953			2,692,020			(3,903,227		)	1,420,520
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$1,406,987			$2,027,880			$3,100,539			($3,903,227	)		$2,632,179

	CONDENSED CONSOLIDATING BALANCE SHEETS
	As of December 31, 2015
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents		$2,472			$13,217			$36,088		—				$51,777
Accounts receivable, less allowance for doubtful accounts	—			1,870			18,352			—			20,222
Inventory	—			—			15,351			—			15,351
Prepaid expenses	—			443			12,211			—			12,654
Other current assets	—			4,876			805			—			5,681
Total current assets	2,472			20,406			82,807			—			105,685
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—			—			2,066,780			—			2,066,780
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	—			—			65,450			—			65,450
NET PROPERTY, PLANT AND EQUIPMENT	—			330			6,412			—			6,742
INVESTMENT IN SUBSIDIARIES	1,321,681			2,212,405			—			(3,534,086		)	—
INTERCOMPANY RECEIVABLE	34,567			(610,450		)	575,883			—			—
OTHER ASSETS	3			18,718			52,560			—			71,281
TOTAL ASSETS		$1,358,723			$1,641,409			$2,849,892			($3,534,086	)		$2,315,938
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	609				$1,463			$19,407		—				$21,479
Accrued taxes	—			(10		)	3,695			—			3,685
Accrued payroll and benefits	—			3,594			3,443			—			7,037
Accrued interest	3,047			666			2,440			—			6,153
Other current liabilities	—			262			20,841			—			21,103
Total current liabilities	3,656			5,975			49,826			—			59,457
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	322,697			280,978			226,879			—			830,554
PENSION AND OTHER POSTRETIREMENT BENEFITS	—			34,822			(685		)	—			34,137
OTHER NON-CURRENT LIABILITIES	—			16,914			13,136			—			30,050
INTERCOMPANY PAYABLE	(255,714		)	(18,961		)	274,675			—			—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,288,084			1,321,681			2,212,405			(3,534,086		)	1,288,084
Noncontrolling interest	—			—			73,656			—			73,656
TOTAL SHAREHOLDERS’ EQUITY	1,288,084			1,321,681			2,286,061			(3,534,086		)	1,361,740
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$1,358,723			$1,641,409			$2,849,892			($3,534,086	)		$2,315,938

Schedule of Condensed Consolidating Statements of Cash Flows

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	For the Six Months Ended June 30, 2016
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments		Total Consolidated
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES		($4,055	)		($7,193	)		$88,227		—			$76,979
INVESTING ACTIVITIES
Capital expenditures	—			—			(26,180		)	—		(26,180		)
Real estate development investments	—			—			(3,018		)	—		(3,018		)
Purchase of timberlands	—			—			(276,614		)	—		(276,614		)
Assets purchased in business acquisition	—			—			(1,113		)	—		(1,113		)
Net proceeds from large disposition	—			—			126,965			—		126,965
Rayonier office building under construction	—			—			(1,155		)	—		(1,155		)
Change in restricted cash	—			—			17,985			—		17,985
Investment in subsidiaries	—			262,505			—			(262,505	)	—
Other	—			—			(2,066		)	—		(2,066		)
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			262,505			(165,196		)	(262,505	)	(165,196		)
FINANCING ACTIVITIES
Issuance of debt	—			518,000			135,775			—		653,775
Repayment of debt	—			(135,000		)	(291,173		)	—		(426,173		)
Dividends paid	(61,409		)	—			—			—		(61,409		)
Proceeds from the issuance of common shares	644			—			—			—		644
Repurchase of common shares	—			(690		)	—			—		(690		)
Debt issuance costs	—			(818		)	—			—		(818		)
Intercompany distributions	137,844			(638,434		)	238,085			262,505		—
Other	(139		)	—			—			—		(139		)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	76,940			(256,942		)	82,687			262,505		165,190
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			904			—		904
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	72,885			(1,630		)	6,622			—		77,877
Balance, beginning of year	2,472			13,217			36,088			—		51,777
Balance, end of period		$75,357			$11,587			$42,710		—			$129,654

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	For the Six Months Ended June 30, 2015
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES		($25,092	)		($13,561	)		$110,401			$14,135			$85,883
INVESTING ACTIVITIES
Capital expenditures	—			(134		)	(25,184		)	—			(25,318		)
Real estate development investments	—			—			(926		)	—			(926		)
Purchase of timberlands	—			—			(88,414		)	—			(88,414		)
Rayonier office building under construction	—			—			(261		)	—			(261		)
Change in restricted cash	—			—			4,160			—			4,160
Investment in subsidiaries	—			8,753			—			(8,753		)	—
Other	—			—			3,486			—			3,486
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			8,619			(107,139		)	(8,753		)	(107,273		)
FINANCING ACTIVITIES
Issuance of debt	—			57,000			2,100			—			59,100
Repayment of debt	—			(28,000		)	(3,472		)	—			(31,472		)
Dividends paid	(63,421		)	—			—			—			(63,421		)
Proceeds from the issuance of common shares	718			—			—			—			718
Repurchase of common shares	(8,962		)	—			—			—			(8,962		)
Intercompany distributions	—			13,778			(8,396		)	(5,382		)	—
Other	(95		)	—			—			—			(95		)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES	(71,760		)	42,778			(9,768		)	(5,382		)	(44,132		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			(4,404		)	—			(4,404		)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(96,852		)	37,836			(10,910		)	—			(69,926		)
Balance, beginning of year	102,218			8,105			51,235			—			161,558
Balance, end of period		$5,366			$45,941			$40,325		—				$91,632