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FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, by Balance Sheet Grouping
The following table presents the carrying amount and estimated fair values of our financial instruments as of June 30, 2021 and December 31, 2020, using market information and what we believe to be appropriate valuation methodologies under GAAP:
 June 30, 2021December 31, 2020
Asset (Liability) (a)Carrying
Amount		Fair ValueCarrying
Amount		Fair Value
Level 1Level 2Level 1Level 2
Cash and cash equivalents, excluding Timber Funds$309,839 $309,839 — $80,454 $80,454 — 
Cash and cash equivalents, Timber Funds4,469 4,469 — 4,053 4,053 — 
Restricted cash (b)702 702 — 2,975 2,975 — 
Current maturities of long-term debt, excluding Timber Funds (c)(199,830)— (203,940)— — — 
Long-term debt, excluding Timber Funds (c)(1,192,888)— (1,207,100)(1,300,336)— (1,313,631)
Long-term debt, Timber Funds (c)(59,755)— (59,976)(60,179)— (60,474)
Interest rate swaps (d)(26,892)— (26,892)(51,580)— (51,580)
Forward-starting interest rate swaps (d)10,000 — 10,000 (12,529)— (12,529)
Foreign currency exchange contracts (d)2,270 — 2,270 6,018 — 6,018 
Foreign currency option contracts (d)356 — 356 1,515 — 1,515 
Noncontrolling Interests in the Operating Partnership (e)153,505 153,505 — 130,121 130,121 — 
(a)We did not have Level 3 assets or liabilities at June 30, 2021 and December 31, 2020.
(b)Restricted cash represents cash held in escrow. See Note 22 — Restricted Cash for additional information.
(c)The carrying amount of long-term debt is presented net of deferred financing costs, unamortized discounts and fair value adjustments on non-revolving debt. See Note 9 — Debt for additional information.
(d)See Note 10 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets classification of our derivative financial instruments.
(e)Noncontrolling Interests in the Operating Partnership is neither an asset or liability and is classified as temporary equity in the Company’s Consolidated Balance Sheets. This relates to the ownership of Rayonier, L.P. units by various individuals and entities other than the Company.