CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 106,611	$ 112,653
Accounts receivable, less allowance for doubtful accounts of $23 and $23	54,340	27,693
Inventory (Note 16)	19,125	24,141
Prepaid expenses	15,774	15,993
Other current assets	2,840	3,047
Total current assets	198,690	183,527
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,406,425	2,462,066
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 6)	86,955	80,797
PROPERTY, PLANT AND EQUIPMENT
Land	3,962	3,962
Buildings	23,142	23,618
Machinery and equipment	4,432	4,440
Construction in progress	545	627
Total property, plant and equipment, gross	32,081	32,647
Less — accumulated depreciation	(9,149)	(9,269)
Total property, plant and equipment, net	22,932	23,378
RESTRICTED CASH (NOTE 17)	69,638	59,703
OTHER ASSETS	66,422	49,010
TOTAL ASSETS	2,851,062	2,858,481
CURRENT LIABILITIES
Accounts payable	27,692	25,148
Current maturities of long-term debt (Note 5)	0	3,375
Accrued taxes	5,299	3,781
Accrued payroll and benefits	6,690	9,662
Accrued interest	4,995	5,054
Deferred revenue	17,674	9,721
Other current liabilities	21,538	11,807
Total current liabilities	83,888	68,548
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS (NOTE 5)	972,285	1,022,004
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 14)	30,230	31,905
OTHER NON-CURRENT LIABILITIES	51,782	43,084
COMMITMENTS AND CONTINGENCIES (NOTES 7 and 9)
SHAREHOLDERS’ EQUITY
Common Shares, 480,000,000 shares authorized, 129,451,268 and 128,970,776 shares issued and outstanding	880,560	872,228
Retained earnings	716,328	707,378
Accumulated other comprehensive income (Note 18)	16,601	13,417
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,613,489	1,593,023
Noncontrolling interest	99,388	99,917
TOTAL SHAREHOLDERS’ EQUITY	1,712,877	1,692,940
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,851,062	$ 2,858,481