CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 154,613	$ 148,374
Accounts receivable, less allowance for doubtful accounts of $8 and $8	32,031	26,151
Inventory (Note 17)	26,221	15,703
Prepaid expenses	17,283	17,016
Other current assets	738	609
Total current assets	230,886	207,853
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,395,625	2,401,327
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 7)	76,287	85,609
PROPERTY, PLANT AND EQUIPMENT
Land	4,131	4,131
Buildings	22,621	22,503
Machinery and equipment	3,772	3,534
Construction in progress	550	567
Total property, plant and equipment, gross	31,074	30,735
Less — accumulated depreciation	(8,533)	(7,984)
Total property, plant and equipment, net	22,541	22,751
RESTRICTED CASH (NOTE 18)	9,867	8,080
RIGHT OF USE ASSETS (NOTE 3)	105,745	0
OTHER ASSETS	43,259	55,046
TOTAL ASSETS	2,884,210	2,780,666
CURRENT LIABILITIES
Accounts payable	25,958	18,019
Accrued taxes	4,028	3,178
Accrued payroll and benefits	4,732	10,416
Accrued interest	8,106	5,007
Deferred revenue	8,468	10,447
Other current liabilities	27,050	16,474
Total current liabilities	78,342	63,541
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS (NOTE 6)	972,707	972,567
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 15)	29,812	29,800
LONG-TERM LEASE LIABILITY (NOTE 3)	95,009	0
OTHER NON-CURRENT LIABILITIES	67,140	60,208
COMMITMENTS AND CONTINGENCIES (NOTES 8 and 10)
SHAREHOLDERS’ EQUITY
Common Shares, 480,000,000 shares authorized,129,513,566 and 129,488,675 shares issued and outstanding	886,304	884,263
Retained earnings	662,116	672,371
Accumulated other comprehensive (loss) income (Note 19)	(5,853)	239
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,542,567	1,556,873
Noncontrolling interest	98,633	97,677
TOTAL SHAREHOLDERS’ EQUITY	1,641,200	1,654,550
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,884,210	$ 2,780,666