CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
OPERATING ACTIVITIES
Net (loss) income		$ 17,378	$ 50,241
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization		119,479	91,939
Non-cash cost of land and improved development		20,701	9,985
Stock-based incentive compensation expense		6,143	5,383
Deferred income taxes		10,267	8,133
Amortization of losses from pension and postretirement plans		652	337
Timber write-offs due to casualty events		15,203	0
Gain on sale of large disposition of timberlands		(28,655)	0
Other		(6,986)	(760)
Changes in operating assets and liabilities, net of effects of merger with Pope Resources:
Receivables		(14,089)	(1,839)
Inventories		(2,310)	(1,107)
Accounts payable		6,553	2,021
All other operating activities		(6,352)	(140)
CASH PROVIDED BY OPERATING ACTIVITIES		137,984	164,193
INVESTING ACTIVITIES
Capital expenditures		(44,679)	(45,271)
Real estate development investments		(5,448)	(3,349)
Purchase of timberlands		(24,379)	(81,913)
Net proceeds from large disposition of timberlands		115,666	0
Net cash consideration for merger with Pope Resources		(231,068)	0
Other		5,127	(2,219)
CASH USED FOR INVESTING ACTIVITIES		(184,781)	(132,752)
FINANCING ACTIVITIES
Issuance of debt		320,000	0
Repayment of debt		(132,000)	0
Dividends paid on common stock		(109,136)	(106,125)
Distributions to noncontrolling interests in the Operating Partnership		(2,401)	0
Proceeds from the issuance of common shares under incentive stock plan		233	831
Repurchase of common shares		(1,577)	(4,249)
Debt issuance costs		(2,483)	0
Offering issuance costs		(456)	0
Repurchase of common shares made under repurchase program		(3,152)	(8,430)
Proceeds from shareholder distribution hedge		0	135
Noncontrolling interests in consolidated affiliates redemption of shares		(5,113)	0
Distributions to noncontrolling interest in consolidated affiliates		(8,247)	(7,315)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES		55,668	(125,153)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(213)	(2,808)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash		8,658	(96,520)
Balance, beginning of year		69,968	156,454
Balance, end of period		78,626	59,934
Cash paid during the period:
Interest	[1]	25,546	20,578
Income taxes		621	1,352
Non-cash investing activity
Capital assets purchased on account		3,250	2,271
Non-cash financing activity:
Equity consideration for merger with Pope Resources		172,640	0
Redeemable Common Unit consideration for merger with Pope Resources		106,752	0
Rayonier Limited Partnership
OPERATING ACTIVITIES
Net (loss) income		17,378	50,241
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization		119,479	91,939
Non-cash cost of land and improved development		20,701	9,985
Stock-based incentive compensation expense		6,143	5,383
Deferred income taxes		10,267	8,133
Amortization of losses from pension and postretirement plans		652	337
Timber write-offs due to casualty events		15,203	0
Gain on sale of large disposition of timberlands		(28,655)	0
Other		(6,986)	(760)
Changes in operating assets and liabilities, net of effects of merger with Pope Resources:
Receivables		(14,089)	(1,839)
Inventories		(2,310)	(1,107)
Accounts payable		6,553	2,021
All other operating activities		(6,352)	(140)
CASH PROVIDED BY OPERATING ACTIVITIES		137,984	164,193
INVESTING ACTIVITIES
Capital expenditures		(44,679)	(45,271)
Real estate development investments		(5,448)	(3,349)
Purchase of timberlands		(24,379)	(81,913)
Net proceeds from large disposition of timberlands		115,666	0
Net cash consideration for merger with Pope Resources		(231,068)	0
Other		5,127	(2,219)
CASH USED FOR INVESTING ACTIVITIES		(184,781)	(132,752)
FINANCING ACTIVITIES
Issuance of debt		320,000	0
Repayment of debt		(132,000)	0
Distribution on common units		(111,537)	(106,125)
Proceeds from the issuance of common units under incentive stock plan		233	831
Repurchase of common units		(1,577)	(4,249)
Debt issuance costs		(2,483)	0
Offering issuance costs		(456)	0
Repurchase of common shares made under repurchase program		(3,152)	(8,430)
Proceeds from shareholder distribution hedge		0	135
Noncontrolling interests in consolidated affiliates redemption of shares		(5,113)	0
Distributions to noncontrolling interest in consolidated affiliates		(8,247)	(7,315)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES		55,668	(125,153)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(213)	(2,808)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash		8,658	(96,520)
Balance, beginning of year		69,968	156,454
Balance, end of period		78,626	59,934
Cash paid during the period:
Interest	[2]	25,546	20,578
Income taxes		621	1,352
Non-cash investing activity
Capital assets purchased on account		3,250	2,271
Non-cash financing activity:
Redeemable Common Unit consideration for merger with Pope Resources		106,752	0
Common unit consideration for merger with Pope Resources		$ 172,640	$ 0

[1] Interest paid is presented net of patronage payments received of $4.7 million and $4.0 million for the nine months ended September 30, 2020 and September 30, 2019, respectively. For additional information on patronage payments, see Note 6 — Debt in the 2019 Form 10-K.

[2] Interest paid is presented net of patronage payments received of $4.7 million and $4.0 million for the nine months ended September 30, 2020 and September 30, 2019, respectively. For additional information on patronage payments, see Note 6 — Debt in the 2019 Form 10-K.