Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Rayonier’s debt consisted of the following at December 31, 2017 and 2016:

	2017			2016
Term Credit Agreement due 2024 at a variable interest rate of 3.0% at December 31, 2017		$350,000			$350,000
Senior Notes due 2022 at a fixed interest rate of 3.75%	325,000			325,000
Incremental Term Loan Agreement due 2026 at a variable interest rate of 3.3% at December 31, 2017	300,000			300,000
Mortgage notes repaid in 2017 at fixed interest rates of 4.35% (a)	—			31,676
Revolving Credit Facility due 2020 at a variable interest rate of 2.8% at December 31, 2017	50,000			25,000
Solid waste bonds repaid in 2017 at a variable interest rate of 2.0% at December 31, 2016	—			15,000
New Zealand JV noncontrolling interest shareholder loan at 0% interest rate	3,375			18,796
Total debt	1,028,375			1,065,472
Less: Current maturities of long-term debt	(3,375		)	(31,676		)
Less: Deferred financing costs	(2,996		)	(3,591		)
Long-term debt, net of deferred financing costs		$1,022,004			$1,030,205

Total expenditures for long-term leases and deeds on timberlands (including Crown Forest Licenses) for the three years ended December 31:

	2017		2016		2015
Long-Term Leases and Deeds on Timberlands		$10,731		$10,710		$11,342

Schedule of Maturities of Long-term Debt

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

2018		$3,375
2019	—
2020	50,000
2021	—
2022	325,000
Thereafter	650,000
Total debt		$1,028,375

(a) The mortgage notes, repaid in August 2017, were recorded at a premium of $0.2 million as of December 31, 2016.