Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Consolidating of Income Statement

	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Year Ended December 31, 2018
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	—			—				$816,138		—				$816,138
Costs and Expenses
Cost of sales	—			—			(605,259		)	—			(605,259		)
Selling and general expenses	—			(19,812		)	(22,139		)	—			(41,951		)
Other operating (expense) income, net	(12		)	543			609			—			1,140
	(12		)	(19,269		)	(626,789		)	—			(646,070		)
OPERATING (LOSS) INCOME	(12		)	(19,269		)	189,349			—			170,068
Interest expense	(12,556		)	(19,155		)	(355		)	—			(32,066		)
Interest and miscellaneous income (expense), net	6,648			3,863			(5,947		)	—			4,564
Equity in income from subsidiaries	108,136			144,916			—			(253,052		)	—
INCOME BEFORE INCOME TAXES	102,216			110,355			183,047			(253,052		)	142,566
Income tax expense	—			(2,219		)	(23,017		)	—			(25,236		)
NET INCOME	102,216			108,136			160,030			(253,052		)	117,330
Less: Net income attributable to noncontrolling interest	—			—			(15,114		)	—			(15,114		)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	102,216			108,136			144,916			(253,052		)	102,216
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment, net of income tax	(17,329		)	386			(23,145		)	17,329			(22,759		)
Cash flow hedges, net of income tax	5,782			8,296			(3,267		)	(5,782		)	5,029
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax	(1,630		)	(1,630		)	—			1,630			(1,630		)
Total other comprehensive (loss) income	(13,177		)	7,052			(26,412		)	13,177			(19,360		)
COMPREHENSIVE INCOME	89,039			115,188			133,618			(239,875		)	97,970
Less: Comprehensive income attributable to noncontrolling interest	—			—			(8,931		)	—			(8,931		)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.		$89,039			$115,188			$124,687			($239,875	)		$89,039

	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Year Ended December 31, 2017
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	—			—				$819,596		—				$819,596
Costs and Expenses
Cost of sales	—			—			(568,253		)	—			(568,253		)
Selling and general expenses	—			(16,797		)	(23,448		)	—			(40,245		)
Other operating (expense) income, net	—			(479		)	4,872			—			4,393
	—			(17,276		)	(586,829		)	—			(604,105		)
OPERATING (LOSS) INCOME	—			(17,276		)	232,767			—			215,491
Interest expense	(12,556		)	(19,699		)	(1,816		)	—			(34,071		)
Interest and miscellaneous income (expense), net	9,679			2,878			(10,717		)	—			1,840
Equity in income from subsidiaries	151,719			186,388			—			(338,107		)	—
INCOME BEFORE INCOME TAXES	148,842			152,291			220,234			(338,107		)	183,260
Income tax expense	—			(572		)	(21,109		)	—			(21,681		)
NET INCOME	148,842			151,719			199,125			(338,107		)	161,579
Less: Net income attributable to noncontrolling interest	—			—			(12,737		)	—			(12,737		)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	148,842			151,719			186,388			(338,107		)	148,842
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment, net of income tax	7,416			—			9,114			(7,416		)	9,114
Cash flow hedges, net of income tax	5,353			4,214			1,479			(5,353		)	5,693
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax	(208		)	(208		)	—			208			(208		)
Total other comprehensive income	12,561			4,006			10,593			(12,561		)	14,599
COMPREHENSIVE INCOME	161,403			155,725			209,718			(350,668		)	176,178
Less: Comprehensive income attributable to noncontrolling interest	—			—			(14,775		)	—			(14,775		)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.		$161,403			$155,725			$194,943			($350,668	)		$161,403

	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Year Ended December 31, 2016
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	—			—				$815,915		—				$815,915
Costs and Expenses
Cost of sales	—			—			(526,439		)	—			(526,439		)
Selling and general expenses	—			(15,253		)	(27,532		)	—			(42,785		)
Other operating (expense) income, net	—			(448		)	9,534			—			9,086
	—			(15,701		)	(544,437		)	—			(560,138		)
OPERATING (LOSS) INCOME	—			(15,701		)	271,478			—			255,777
Interest expense	(12,555		)	(16,775		)	(2,915		)	—			(32,245		)
Interest and miscellaneous income (expense), net	8,613			2,750			(12,061		)	—			(698		)
Equity in income from subsidiaries	215,914			246,193			—			(462,107		)	—
INCOME BEFORE INCOME TAXES	211,972			216,467			256,502			(462,107		)	222,834
Income tax expense	—			(553		)	(4,511		)	—			(5,064		)
NET INCOME	211,972			215,914			251,991			(462,107		)	217,770
Less: Net income attributable to noncontrolling interest	—			—			(5,798		)	—			(5,798		)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	211,972			215,914			246,193			(462,107		)	211,972
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment, net of income tax	2,780			(4,606		)	10,930			(2,782		)	6,322
Cash flow hedges, net of income tax	22,607			21,422			1,401			(22,608		)	22,822
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax	5,533			5,533			—			(5,533		)	5,533
Total other comprehensive income	30,920			22,349			12,331			(30,923		)	34,677
COMPREHENSIVE INCOME	242,892			238,263			264,322			(493,030		)	252,447
Less: Comprehensive income attributable to noncontrolling interest	—			—			(9,555		)	—			(9,555		)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.		$242,892			$238,263			$254,767			($493,030	)		$242,892

Schedule of Condensed Consolidating Balance Sheet

	CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2018
	Rayonier Inc. (Parent Issuer)		Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents		$361		$104,777			$43,236		—				$148,374
Accounts receivable, less allowance for doubtful accounts	—		3,752			22,399			—			26,151
Inventory	—		—			15,703			—			15,703
Prepaid logging roads	—		—			11,976			—			11,976
Prepaid expenses	—		977			4,063			—			5,040
Other current assets	—		108			501			—			609
Total current assets	361		109,614			97,878			—			207,853
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—			2,401,327			—			2,401,327
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	—		—			85,609			—			85,609
NET PROPERTY, PLANT AND EQUIPMENT	—		16,940			5,811			—			22,751
RESTRICTED CASH	—		—			8,080			—			8,080
INVESTMENT IN SUBSIDIARIES	1,833,899		3,022,875			—			(4,856,774		)	—
INTERCOMPANY RECEIVABLE	49,461		(638,424		)	588,963			—			—
OTHER ASSETS	2		19,244			35,800			—			55,046
TOTAL ASSETS		$1,883,723		$2,530,249			$3,223,468			($4,856,774	)		$2,780,666
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	—			$1,616			$16,403		—				$18,019
Accrued taxes	—		8			3,170			—			3,178
Accrued payroll and benefits	—		5,848			4,568			—			10,416
Accrued interest	3,047		1,960			—			—			5,007
Deferred revenue	—		—			10,447			—			10,447
Other current liabilities	—		216			16,258			—			16,474
Total current liabilities	3,047		9,648			50,846			—			63,541
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	323,803		648,764			—			—			972,567
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		30,484			(684		)	—			29,800
OTHER NON-CURRENT LIABILITIES	—		7,454			52,754			—			60,208
INTERCOMPANY PAYABLE	—		—			—			—			—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,556,873		1,833,899			3,022,875			(4,856,774		)	1,556,873
Noncontrolling interest	—		—			97,677			—			97,677
TOTAL SHAREHOLDERS’ EQUITY	1,556,873		1,833,899			3,120,552			(4,856,774		)	1,654,550
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$1,883,723		$2,530,249			$3,223,468			($4,856,774	)		$2,780,666

	CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2017
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents		$48,564			$25,042			$39,047		—				$112,653
Accounts receivable, less allowance for doubtful accounts	—			3,726			23,967			—			27,693
Inventory	—			—			24,141			—			24,141
Prepaid logging roads	—			—			11,207			—			11,207
Prepaid expenses	—			759			4,027			—			4,786
Other current assets	—			14			3,033			—			3,047
Total current assets	48,564			29,541			105,422			—			183,527
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—			—			2,462,066			—			2,462,066
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	—			—			80,797			—			80,797
NET PROPERTY, PLANT AND EQUIPMENT	—			21			23,357			—			23,378
RESTRICTED CASH	—			—			59,703			—			59,703
INVESTMENT IN SUBSIDIARIES	1,531,156			2,814,408			—			(4,345,564		)	—
INTERCOMPANY RECEIVABLES	40,067			(628,167		)	588,100			—			—
OTHER ASSETS	2			12,680			36,328			—			49,010
TOTAL ASSETS		$1,619,789			$2,228,483			$3,355,773			($4,345,564	)		$2,858,481
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	—				$2,838			$22,310		—				$25,148
Current maturities of long-term debt	—			—			3,375			—			3,375
Accrued taxes	—			48			3,733			—			3,781
Accrued payroll and benefits	—			5,298			4,364			—			9,662
Accrued interest	3,047			1,995			12			—			5,054
Deferred revenue	—			—			9,721			—			9,721
Other current liabilities	—			564			11,243			—			11,807
Total current liabilities	3,047			10,743			54,758			—			68,548
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	323,434			663,570			35,000			—			1,022,004
PENSION AND OTHER POSTRETIREMENT BENEFITS	—			32,589			(684		)	—			31,905
OTHER NON-CURRENT LIABILITIES	—			9,386			33,698			—			43,084
INTERCOMPANY PAYABLE	(299,715		)	(18,961		)	318,676			—			—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,593,023			1,531,156			2,814,408			(4,345,564		)	1,593,023
Noncontrolling interest	—			—			99,917			—			99,917
TOTAL SHAREHOLDERS’ EQUITY	1,593,023			1,531,156			2,914,325			(4,345,564		)	1,692,940
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$1,619,789			$2,228,483			$3,355,773			($4,345,564	)		$2,858,481

Schedule of Condensed Consolidating Cash Flows Statement

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2018
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments		Total Consolidated
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES		$284,781			$182,057			($156,742	)	—			$310,096
INVESTING ACTIVITIES
Capital expenditures	—			(59		)	(62,266		)	—		(62,325		)
Real estate development investments	—			—			(9,501		)	—		(9,501		)
Purchase of timberlands	—			—			(57,608		)	—		(57,608		)
Investment in subsidiaries	—			6,128			—			(6,128	)	—
Other	—			—			(3,421		)	—		(3,421		)
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			6,069			(132,796		)	(6,128	)	(132,855		)
FINANCING ACTIVITIES
Issuance of debt	—			—			1,014			—		1,014
Repayment of debt	—			(50,000		)	(4,416		)	—		(54,416		)
Dividends paid	(136,698		)	(74		)	—			—		(136,772		)
Proceeds from the issuance of common shares under incentive stock plan	8,591			—			—			—		8,591
Repurchase of common shares	(2,984		)	—			—			—		(2,984		)
Proceeds from shareholder distribution hedge	—			—			2,025			—		2,025
Distribution to minority shareholder	—			—			(11,172		)	—		(11,172		)
Issuance of intercompany notes	299,715			18,961			(318,676		)	—		—
Intercompany distributions	(501,608		)	(77,278		)	572,758			6,128		—
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES	(332,984		)	(108,391		)	241,533			6,128		(193,714		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			571			—		571
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash	(48,203		)	79,735			(47,434		)	—		(15,902		)
Balance, beginning of year	48,564			25,042			98,750			—		172,356
Balance, end of year		$361			$104,777			$51,316		—			$156,454

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2017
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments		Total Consolidated
CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES		($48,104	)		$111,431			$192,957		—			$256,284
INVESTING ACTIVITIES
Capital expenditures	—			—			(65,345		)	—		(65,345		)
Real estate development investments	—			—			(15,784		)	—		(15,784		)
Purchase of timberlands	—			—			(242,910		)	—		(242,910		)
Net proceeds from large disposition of timberlands	—			—			95,243			—		95,243
Rayonier office building under construction	—			—			(6,084		)	—		(6,084		)
Investment in subsidiaries	—			38,546			—			(38,546	)	—
Other	—			—			(373		)	—		(373		)
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			38,546			(235,253		)	(38,546	)	(235,253		)
FINANCING ACTIVITIES
Issuance of debt	—			25,000			38,389			—		63,389
Repayment of debt	—			(15,000		)	(85,157		)	—		(100,157		)
Dividends paid	(127,069		)	—			—			—		(127,069		)
Proceeds from the issuance of common shares under incentive stock plan	4,751			—			—			—		4,751
Proceeds from the issuance of common shares from equity offering, net of costs	152,390			—			—			—		152,390
Repurchase of common shares	(176		)	—			—			—		(176		)
Issuance of intercompany notes	(32,000		)	—			32,000			—		—
Intercompany distributions	77,319			(144,396		)	28,531			38,546		—
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	75,215			(134,396		)	13,763			38,546		(6,872		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			580			—		580
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash	27,111			15,581			(27,953		)	—		14,739
Balance, beginning of year	21,453			9,461			126,703			—		157,617
Balance, end of year		$48,564			$25,042			$98,750		—			$172,356

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments		Total Consolidated
CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES		($7,480	)		$113,775			$97,506		—			$203,801
INVESTING ACTIVITIES
Capital expenditures	—			—			(58,723		)	—		(58,723		)
Real estate development investments	—			—			(8,746		)	—		(8,746		)
Purchase of timberlands	—			—			(366,481		)	—		(366,481		)
Assets purchased in business acquisition	—			—			(887		)	—		(887		)
Net proceeds from large disposition of timberlands	—			—			203,862			—		203,862
Rayonier office building under construction	—			—			(6,307		)	—		(6,307		)
Investment in subsidiaries	—			(293,820		)	—			293,820		—
Other	—			—			2,311			—		2,311
CASH USED FOR INVESTING ACTIVITIES	—			(293,820		)	(234,971		)	293,820		(234,971		)
FINANCING ACTIVITIES
Issuance of debt	—			548,000			147,916			—		695,916
Repayment of debt	—			(140,000		)	(318,415		)	—		(458,415		)
Dividends paid	(122,845		)	—			—			—		(122,845		)
Proceeds from the issuance of common shares under incentive stock plan	1,576			—			—			—		1,576
Repurchase of common shares	(690		)	—			—			—		(690		)
Debt issuance costs	—			(818		)	—			—		(818		)
Issuance of intercompany notes	(12,000		)	—			12,000			—		—
Intercompany distributions	160,597			(230,893		)	364,116			(293,820	)	—
Other	(177		)	—			(124		)	—		(301		)
CASH PROVIDED BY FINANCING ACTIVITIES	26,461			176,289			205,493			(293,820	)	114,423
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			(938		)	—		(938		)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash	18,981			(3,756		)	67,090			—		82,315
Balance, beginning of year	2,472			13,217			59,613			—		75,302
Balance, end of year		$21,453			$9,461			$126,703		—			$157,617