XML 75 R54.htm IDEA: XBRL DOCUMENT v3.22.0.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 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 at December 31, 2021 and 2020, using market information and what we believe to be appropriate valuation methodologies under generally accepted accounting principles:
 December 31, 2021December 31, 2020
Carrying
Amount		Fair ValueCarrying
Amount		Fair Value
Asset (Liability) (a)Level 1Level 2Level 1Level 2
Cash and cash equivalents, excluding Timber Funds$358,680 $358,680 — $80,454 $80,454 — 
Cash and cash equivalents, Timber Funds3,493 3,493 — 4,053 4,053 — 
Restricted cash, Timber Funds (b)6,341 6,341 — — — — 
Restricted cash, excluding Timber Funds (c)625 625 — 2,975 2,975 — 
Current maturities of long-term debt, excluding Timber Funds (d)(124,965)— (125,288)— — — 
Long-term debt, excluding Timber Funds (d)(1,242,819)— (1,245,148)(1,300,336)— (1,313,631)
Long-term debt, Timber Funds (d)— — — (60,179)— (60,474)
Interest rate swaps (e)(15,582)— (15,582)(51,580)— (51,580)
Forward-starting interest rate swaps (e)11,482 — 11,482 (12,529)— (12,529)
Foreign currency exchange contracts (e)(1,948)— (1,948)6,018 — 6,018 
Foreign currency option contracts (e)(42)— (42)1,515 — 1,515 
Noncontrolling interests in the operating partnership (f)133,823 133,823 — 130,121 130,121 — 
(a)We did not have Level 3 assets or liabilities at December 31, 2021 and 2020.
(b)Restricted cash, Timber Funds represents the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. See Note 24 - Restricted Cash for additional information.
(c)Restricted cash, excluding Timber Funds represents cash held in escrow. See Note 24 - Restricted Cash for additional information.
(d)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 10 — Debt for additional information.
(e)See Note 11 — Derivative Financial Instruments and Hedging Activities for information regarding the Balance Sheet classification of our derivative financial instruments.
(f)Noncontrolling interests in the operating partnership is neither an asset nor 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.