CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 130,956	$ 148,374
Accounts receivable, less allowance for doubtful accounts of $8 and $8	44,931	26,151
Inventory (Note 17)	23,597	15,703
Prepaid expenses	20,581	17,016
Other current assets	690	609
Total current assets	220,755	207,853
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,392,389	2,401,327
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 7)	77,072	85,609
PROPERTY, PLANT AND EQUIPMENT
Land	4,131	4,131
Buildings	22,432	22,503
Machinery and equipment	3,681	3,534
Construction in progress	589	567
Total property, plant and equipment, gross	30,833	30,735
Less — accumulated depreciation	(8,789)	(7,984)
Total property, plant and equipment, net	22,044	22,751
RESTRICTED CASH (NOTE 18)	3,754	8,080
RIGHT-OF-USE ASSETS (NOTE 3)	104,016	0
OTHER ASSETS	41,021	55,046
TOTAL ASSETS	2,861,051	2,780,666
CURRENT LIABILITIES
Accounts payable	24,944	18,019
Accrued taxes	5,935	3,178
Accrued payroll and benefits	5,451	10,416
Accrued interest	4,931	5,007
Deferred revenue	19,798	10,447
Other current liabilities	25,026	16,474
Total current liabilities	86,085	63,541
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS (NOTE 6)	972,848	972,567
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 15)	29,383	29,800
LONG-TERM LEASE LIABILITY (NOTE 3)	93,749	0
OTHER NON-CURRENT LIABILITIES	78,688	60,208
COMMITMENTS AND CONTINGENCIES (NOTES 8 and 10)
SHAREHOLDERS’ EQUITY
Common Shares, 480,000,000 shares authorized,129,629,716 and 129,488,675 shares issued and outstanding	884,618	884,263
Retained earnings	645,743	672,371
Accumulated other comprehensive (loss) income (Note 19)	(29,511)	239
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,500,850	1,556,873
Noncontrolling interest	99,448	97,677
TOTAL SHAREHOLDERS’ EQUITY	1,600,298	1,654,550
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,861,051	$ 2,780,666