Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The (provision for)/benefit from income taxes consisted of the following:

	2017			2016			2015
Current
U.S. federal		$261		—				($624	)
State	(38		)	(254		)	226
Foreign	(245		)	(241		)	(308		)
	(22		)	(495		)	(706		)
Deferred
U.S. federal	13,028			5,403			3,702
State	—			(280		)	107
Foreign	(21,659		)	(6,079		)	2,360
	(8,631		)	(956		)	6,169
Changes in valuation allowance	(13,028		)	(3,613		)	(4,604		)
Total		($21,681	)		($5,064	)		$859

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. federal statutory income tax rate to the actual income tax rate was as follows:

	2017					2016					2015
U.S. federal statutory income tax rate		($64,141	)	(35.0	)%		($77,992	)	(35.0	)%		($15,079	)	(35.0	)%
U.S. and foreign REIT income	63,813			34.8		82,037			36.8		17,191			39.9
Matariki Group and Rayonier New Zealand Ltd	(19,182		)	(10.5	)	(4,799		)	(2.2	)	3,457			8.0
Transition tax	(3,506		)	(1.9	)	—			—		—			—
Change in valuation allowance	(13,028		)	(7.1	)	(3,613		)	(1.6	)	(3,607		)	(8.4	)
ASU No. 2016-16 adoption impact	16,631			9.1		—			—		—			—
Deemed repatriation of unremitted foreign earnings	7,368			4.0		—			—		—			—
Reduction of deferred tax asset for statutory rate change	(10,499		)	(5.7	)	—			—		—			—
CBPC valuation allowance	—			—		—			—		(997		)	(2.3	)
Other	863			0.5		(697		)	(0.3	)	(106		)	(0.2	)
Income tax (expense) benefit as reported for net income		($21,681	)	(11.8	)%		($5,064	)	(2.3	)%		$859		2.0	%

Schedule of Deferred Tax Assets and Liabilities

The nature of the temporary differences and the resulting net deferred tax asset/liability for the two years ended December 31, were as follows:

	2017			2016
Gross deferred tax assets:
Pension, postretirement and other employee benefits		$1,017			$1,648
New Zealand JV	40,224			60,452
CBPC Tax Credit Carry Forwards	14,641			14,641
Capitalized real estate costs	7,058			11,489
U.S. TRS Net Operating Loss	1,872			4,730
Land basis difference	11,090			—
Other	5,079			9,165
Total gross deferred tax assets	80,981			102,125
Less: Valuation allowance	(34,889		)	(21,861		)
Total deferred tax assets after valuation allowance		$46,092			$80,264
Gross deferred tax liabilities:
Accelerated depreciation	(35		)	(1,322		)
Repatriation of foreign earnings	—			(7,368		)
New Zealand JV	(72,527		)	(70,315		)
Timber installment sale	(4,706		)	(7,601		)
Other	(1,270		)	(3,833		)
Total gross deferred tax liabilities	(78,538		)	(90,439		)
Net deferred tax liability reported as noncurrent		($32,446	)		($10,175	)

Summary of Operating Loss and Tax Credit Carryforwards

Included below are the following foreign net operating loss (“NOL”) and tax credit carryforwards as of December 31, 2017:

	Gross Amount		Valuation Allowance			Expiration
2017
New Zealand JV NOL Carryforwards		$137,949	—			None
U.S. Net Deferred Tax Asset	20,248		(20,248		)	None
Cellulosic Biofuel Producer Credit	14,641		(14,641		)	2019
Total Valuation Allowance				($34,889	)
2016
New Zealand JV NOL Carryforwards		$215,898	—			None
U.S. Net Deferred Tax Asset	7,220		(7,220		)	None
Cellulosic Biofuel Producer Credit	14,641		(14,641		)	2019
Total Valuation Allowance				($21,861	)

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending unrecognized tax benefits for the three years ended December 31 is as follows:

	2017			2016		2015
Balance at January 1,		$135			$135	—
Decreases related to prior year tax positions	(135		)	—		—
Increases related to prior year tax positions	—			—		135
Balance at December 31,	—				$135		$135

Summary of Income Tax Examinations

The following table provides detail of the tax years that remain open to examination by the IRS and other significant taxing jurisdictions:

Taxing Jurisdiction	Open Tax Years
U.S. Internal Revenue Service	2014 - 2016
New Zealand Inland Revenue	2012 - 2016