Rayonier 10-Q5 Aug 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2022	Jul. 29, 2022
Entity Addresses [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity Registrant Name	RAYONIER INC.
Entity Incorporation, State or Country Code	NC
Entity File Number	1-6780
Entity Tax Identification Number	13-2607329
Entity Address, Address Line One	1 RAYONIER WAY
Entity Address, City or Town	WILDLIGHT
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32097
City Area Code	904
Local Phone Number	357-9100
Title of 12(b) Security	Common Shares, no par value, of Rayonier Inc.
Trading Symbol	RYN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares/Units Outstanding		146,421,847
Entity Central Index Key	0000052827
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Rayonier Limited Partnership
Entity Addresses [Line Items]
Entity Registrant Name	Rayonier, L.P.
Entity Incorporation, State or Country Code	DE
Entity File Number	333-237246
Entity Tax Identification Number	91-1313292
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares/Units Outstanding		3,212,229
Entity Central Index Key	0001806931
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
SALES	$ 246,346	$ 291,431	$ 468,387	$ 482,878
Costs and Expenses
Cost of sales	(194,323)	(194,250)	(355,303)	(345,628)
Selling and general expenses	(17,356)	(14,693)	(32,116)	(28,725)
Other operating (expense) income, net	801	1,956	(182)	4,404
Costs and expenses	(210,878)	(206,987)	(387,601)	(369,949)
OPERATING INCOME	35,468	84,444	80,786	112,929
Interest expense	(9,083)	(13,000)	(17,420)	(23,027)
Interest and other miscellaneous income (expense), net	206	(1,144)	(262)	(1,148)
INCOME BEFORE INCOME TAXES	26,591	70,300	63,104	88,754
Income tax expense	(1,304)	(6,880)	(6,818)	(10,302)
NET INCOME	25,287	63,420	56,286	78,452
Less: Net income attributable to noncontrolling interests in the operating partnership	(546)	(1,753)	(1,214)	(2,094)
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(637)	(4,461)	(1,650)	(8,304)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	24,104	57,206	53,422	68,054
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0 and $0	(36,285)	1,239	(29,827)	(13,048)
Cash flow hedges, net of income tax effect of $4,211, $315, $3,189 and $1,374	5,755	(10,019)	46,182	50,982
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0	188	294	376	587
Total other comprehensive (loss) income	(30,342)	(8,486)	16,731	38,521
COMPREHENSIVE (LOSS) INCOME	(5,055)	54,934	73,017	116,973
Less: Comprehensive loss (income) attributable to noncontrolling interests in the operating partnership	29	(1,499)	(1,657)	(3,371)
Less: Comprehensive loss (income) attributable to noncontrolling interests in consolidated affiliates	3,767	(4,490)	1,358	(5,070)
Comprehensive INCOME ATTRIBUTABLE TO RAYONIER INC / L.P. UNITHOLDERS	$ (1,259)	$ 48,945	$ 72,718	$ 108,532
EARNINGS PER COMMON SHARE
Basic earnings per share attributable to Rayonier Inc. (in dollars per share)	$ 0.16	$ 0.41	$ 0.37	$ 0.49
Diluted earnings per share attributable to Rayonier Inc. (in dollars per share)	$ 0.16	$ 0.41	$ 0.36	$ 0.49
Rayonier Limited Partnership
SALES	$ 246,346	$ 291,431	$ 468,387	$ 482,878
Costs and Expenses
Cost of sales	(194,323)	(194,250)	(355,303)	(345,628)
Selling and general expenses	(17,356)	(14,693)	(32,116)	(28,725)
Other operating (expense) income, net	801	1,956	(182)	4,404
Costs and expenses	(210,878)	(206,987)	(387,601)	(369,949)
OPERATING INCOME	35,468	84,444	80,786	112,929
Interest expense	(9,083)	(13,000)	(17,420)	(23,027)
Interest and other miscellaneous income (expense), net	206	(1,144)	(262)	(1,148)
INCOME BEFORE INCOME TAXES	26,591	70,300	63,104	88,754
Income tax expense	(1,304)	(6,880)	(6,818)	(10,302)
NET INCOME	25,287	63,420	56,286	78,452
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(637)	(4,461)	(1,650)	(8,304)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	24,650	58,959	54,636	70,148
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0 and $0	(36,285)	1,239	(29,827)	(13,048)
Cash flow hedges, net of income tax effect of $4,211, $315, $3,189 and $1,374	5,755	(10,019)	46,182	50,982
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0	188	294	376	587
Total other comprehensive (loss) income	(30,342)	(8,486)	16,731	38,521
COMPREHENSIVE (LOSS) INCOME	(5,055)	54,934	73,017	116,973
Less: Comprehensive loss (income) attributable to noncontrolling interests in consolidated affiliates	3,767	(4,490)	1,358	(5,070)
Comprehensive INCOME ATTRIBUTABLE TO RAYONIER INC / L.P. UNITHOLDERS	$ (1,288)	$ 50,444	$ 74,375	$ 111,903
EARNINGS PER UNIT
Basic earnings per unit attributable to Rayonier, L.P. (in dollars per unit)	$ 0.16	$ 0.41	$ 0.37	$ 0.49
Diluted earnings per unit attributable to Rayonier, L.P. (in dollars per unit)	$ 0.16	$ 0.41	$ 0.36	$ 0.49

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Foreign currency translation adjustment, tax expense	$ 0	$ 0	$ 0	$ 0
Cash flow hedges, net income tax	4,211	315	3,189	1,374
Amortization of pension and postretirement plans, tax expense	0	0	0	0
Rayonier Limited Partnership
Foreign currency translation adjustment, tax expense	0	0	0	0
Cash flow hedges, net income tax	4,211	315	3,189	1,374
Amortization of pension and postretirement plans, tax expense	$ 0	$ 0	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Total cash and cash equivalents	$ 280,280	$ 362,173
Accounts receivable, less allowance for doubtful accounts of $12 and $59	40,902	30,018
Inventory	25,330	28,523
Prepaid expenses	19,050	18,528
Assets held for sale	2,226	5,099
Other current assets	455	749
Total current assets	369,707	451,431
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,799,507	2,894,996
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 13)	112,497	106,878
PROPERTY, PLANT AND EQUIPMENT
Land	6,453	6,401
Buildings	31,015	31,168
Machinery and equipment	6,564	6,494
Construction in progress	553	460
Total property, plant and equipment, gross	44,585	44,523
Less — accumulated depreciation	(16,212)	(14,900)
Total property, plant and equipment, net	28,373	29,623
RIGHT-OF-USE ASSETS	102,262	101,837
OTHER ASSETS	84,266	50,966
TOTAL ASSETS	3,510,941	3,636,356
CURRENT LIABILITIES
Accounts payable	28,201	23,447
Current maturities of long-term debt, net (Note 6)	622	124,965
Accrued taxes	6,287	12,446
Accrued payroll and benefits	8,438	14,514
Accrued interest	3,585	6,343
Deferred revenue	28,579	17,802
Other current liabilities	31,157	25,863
Total current liabilities	108,445	231,721
LONG-TERM DEBT, NET (NOTE 6)	1,263,394	1,242,819
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 16)	9,927	10,478
LONG-TERM LEASE LIABILITY	93,748	93,416
OTHER NON-CURRENT LIABILITIES	91,166	108,521
COMMITMENTS AND CONTINGENCIES (NOTES 9 and 10)
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 3,313,206 and 3,315,741 Units outstanding	123,811	133,823
SHAREHOLDERS’ EQUITY
Common Shares, 480,000,000 shares authorized, 146,321,732 and 145,372,961 shares issued and outstanding	1,424,329	1,389,073
Retained earnings	382,495	402,307
Accumulated other comprehensive income (loss) (Note 18)	610	(19,604)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,807,434	1,771,776
Noncontrolling interests in consolidated affiliates (Note 4)	13,016	43,802
TOTAL SHAREHOLDERS’ EQUITY	1,820,450	1,815,578
CAPITAL
Accumulated other comprehensive income (loss) (Note 18)	610	(19,604)
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/ REDEEMABLE OPERATING PARTNERSHIP UNITS AND SHAREHOLDERS’ EQUITY/CAPITAL	3,510,941	3,636,356
Excluding Timber Funds
CURRENT ASSETS
Total cash and cash equivalents	279,331	358,680
PROPERTY, PLANT AND EQUIPMENT
RESTRICTED CASH, EXCLUDING TIMBER FUNDS (NOTE 19)	14,329	625
Timber Funds
CURRENT ASSETS
Total cash and cash equivalents	949	3,493
Restricted cash, Timber Funds (Note 19)	1,464	6,341
CURRENT LIABILITIES
Distribution payable, Timber Funds	1,576	6,341
Rayonier Limited Partnership
CURRENT ASSETS
Total cash and cash equivalents	280,280	362,173
Accounts receivable, less allowance for doubtful accounts of $12 and $59	40,902	30,018
Inventory	25,330	28,523
Prepaid expenses	19,050	18,528
Assets held for sale	2,226	5,099
Other current assets	455	749
Total current assets	369,707	451,431
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,799,507	2,894,996
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 13)	112,497	106,878
PROPERTY, PLANT AND EQUIPMENT
Land	6,453	6,401
Buildings	31,015	31,168
Machinery and equipment	6,564	6,494
Construction in progress	553	460
Total property, plant and equipment, gross	44,585	44,523
Less — accumulated depreciation	(16,212)	(14,900)
Total property, plant and equipment, net	28,373	29,623
RIGHT-OF-USE ASSETS	102,262	101,837
OTHER ASSETS	84,266	50,966
TOTAL ASSETS	3,510,941	3,636,356
CURRENT LIABILITIES
Accounts payable	28,201	23,447
Current maturities of long-term debt, net (Note 6)	622	124,965
Accrued taxes	6,287	12,446
Accrued payroll and benefits	8,438	14,514
Accrued interest	3,585	6,343
Deferred revenue	28,579	17,802
Other current liabilities	31,157	25,863
Total current liabilities	108,445	231,721
LONG-TERM DEBT, NET (NOTE 6)	1,263,394	1,242,819
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 16)	9,927	10,478
LONG-TERM LEASE LIABILITY	93,748	93,416
OTHER NON-CURRENT LIABILITIES	91,166	108,521
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 3,313,206 and 3,315,741 Units outstanding	123,811	133,823
SHAREHOLDERS’ EQUITY
Accumulated other comprehensive income (loss) (Note 18)	4,277	(15,463)
CAPITAL
General partners’ capital	18,031	17,872
Limited partners’ capital	1,785,126	1,769,367
Accumulated other comprehensive income (loss) (Note 18)	4,277	(15,463)
TOTAL CONTROLLING INTEREST CAPITAL	1,807,434	1,771,776
Noncontrolling interests in consolidated affiliates	13,016	43,802
TOTAL CAPITAL	1,820,450	1,815,578
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/ REDEEMABLE OPERATING PARTNERSHIP UNITS AND SHAREHOLDERS’ EQUITY/CAPITAL	3,510,941	3,636,356
Rayonier Limited Partnership \| Excluding Timber Funds
CURRENT ASSETS
Total cash and cash equivalents	279,331	358,680
PROPERTY, PLANT AND EQUIPMENT
RESTRICTED CASH, EXCLUDING TIMBER FUNDS (NOTE 19)	14,329	625
Rayonier Limited Partnership \| Timber Funds
CURRENT ASSETS
Total cash and cash equivalents	949	3,493
Restricted cash, Timber Funds (Note 19)	1,464	6,341
CURRENT LIABILITIES
Distribution payable, Timber Funds	$ 1,576	$ 6,341

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Allowance for doubtful accounts	$ 12	$ 59
SHAREHOLDERS’ EQUITY
Common shares, shares authorized (in shares)	480,000,000	480,000,000
Common shares, shares issued (in shares)	146,321,732	145,372,961
Common shares, shares outstanding (in shares)	146,321,732	145,372,961
Rayonier Limited Partnership
CURRENT ASSETS
Allowance for doubtful accounts	$ 12	$ 59
SHAREHOLDERS’ EQUITY
Common units outstanding (in shares)	3,312,229	3,315,741

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands		Total	Common Shares	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests in Consolidated Affiliates
Beginning balance (in shares) at Dec. 31, 2020			137,678,822
Beginning balance at Dec. 31, 2020		$ 1,862,645	$ 1,101,675	$ 446,267	$ (73,885)	$ 388,588
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		15,032		11,189		3,843
Net income attributable to noncontrolling interests in the operating partnership		(341)		(341)
Dividends	[1]	(37,532)		(37,532)
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs (in shares)			1,107,814
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs		36,708	$ 36,708
Issuance of shares under incentive stock plans (in shares)			39,140
Issuance of shares under incentive stock plans		1,166	$ 1,166
Stock-based compensation		2,156	$ 2,156
Repurchase of common shares (in shares)			(5,020)
Repurchase of common shares		(155)	$ (155)
Measurement period adjustment of noncontrolling interests in consolidated affiliates		655				655
Adjustment of noncontrolling interests in the operating partnership		(11,867)		(11,867)
Conversion of units into common shares (in shares)			150,134
Conversion of units into common shares		4,715	$ 4,715
Amortization of pension and postretirement plan liabilities		294			294
Foreign currency translation adjustment		(14,288)			(11,652)	(2,636)
Cash flow hedges		61,001			61,628	(627)
Allocation of other comprehensive income to noncontrolling interests in the operating partnership		(1,531)			(1,531)
Distributions to noncontrolling interests in consolidated affiliates		(8,737)				(8,737)
Ending balance (in shares) at Mar. 31, 2021			138,970,890
Ending balance at Mar. 31, 2021		1,909,921	$ 1,146,265	407,716	(25,146)	381,086
Beginning balance (in shares) at Dec. 31, 2020			137,678,822
Beginning balance at Dec. 31, 2020		1,862,645	$ 1,101,675	446,267	(73,885)	388,588
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interests in the operating partnership		(2,094)
Amortization of pension and postretirement plan liabilities		587
Foreign currency translation adjustment		(13,048)
Ending balance (in shares) at Jun. 30, 2021			141,319,907
Ending balance at Jun. 30, 2021		1,997,483	$ 1,231,224	411,531	(33,407)	388,135
Beginning balance (in shares) at Mar. 31, 2021			138,970,890
Beginning balance at Mar. 31, 2021		1,909,921	$ 1,146,265	407,716	(25,146)	381,086
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		63,420		58,959		4,461
Net income attributable to noncontrolling interests in the operating partnership		(1,753)		(1,753)
Dividends		(37,981)		(37,981)
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs (in shares)			2,199,459
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs		79,994	$ 79,994
Issuance of shares under incentive stock plans (in shares)			185,544
Issuance of shares under incentive stock plans		3,325	$ 3,325
Stock-based compensation		2,852	$ 2,852
Repurchase of common shares (in shares)			(42,425)
Repurchase of common shares		(1,453)	$ (1,453)
Measurement period adjustment of noncontrolling interests in consolidated affiliates		9,034				9,034
Adjustment of noncontrolling interests in the operating partnership		(15,410)		(15,410)
Conversion of units into common shares (in shares)			6,439
Conversion of units into common shares		241	$ 241
Amortization of pension and postretirement plan liabilities		294			294
Foreign currency translation adjustment		1,239			1,025	214
Cash flow hedges		(10,019)			(9,833)	(186)
Allocation of other comprehensive income to noncontrolling interests in the operating partnership		253			253
Distributions to noncontrolling interests in consolidated affiliates		(6,474)				(6,474)
Ending balance (in shares) at Jun. 30, 2021			141,319,907
Ending balance at Jun. 30, 2021		1,997,483	$ 1,231,224	411,531	(33,407)	388,135
Beginning balance (in shares) at Dec. 31, 2021			145,372,961
Beginning balance at Dec. 31, 2021		1,815,578	$ 1,389,073	402,307	(19,604)	43,802
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		30,998		29,986		1,012
Net income attributable to noncontrolling interests in the operating partnership		(669)		(669)
Dividends	[2]	(39,902)		(39,902)
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs (in shares)			726,248
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs		29,771	$ 29,771
Issuance of shares under incentive stock plans (in shares)			11,364
Issuance of shares under incentive stock plans		415	$ 415
Stock-based compensation		2,797	$ 2,797
Repurchase of common shares (in shares)			(5,420)
Repurchase of common shares		(214)	$ (214)
Adjustment of noncontrolling interests in the operating partnership		(2,645)		(2,645)
Conversion of units into common shares (in shares)			2,535
Conversion of units into common shares		104	$ 104
Amortization of pension and postretirement plan liabilities		188			188
Foreign currency translation adjustment		6,458			5,668	790
Cash flow hedges		40,427			39,822	605
Allocation of other comprehensive income to noncontrolling interests in the operating partnership		(101)			(101)
Distributions to noncontrolling interests in consolidated affiliates		(1,566)				(1,566)
Ending balance (in shares) at Mar. 31, 2022			146,107,688
Ending balance at Mar. 31, 2022		1,881,639	$ 1,421,946	389,077	25,973	44,643
Beginning balance (in shares) at Dec. 31, 2021			145,372,961
Beginning balance at Dec. 31, 2021		1,815,578	$ 1,389,073	402,307	(19,604)	43,802
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interests in the operating partnership		(1,214)
Amortization of pension and postretirement plan liabilities		376
Foreign currency translation adjustment		(29,827)
Ending balance (in shares) at Jun. 30, 2022			146,321,732
Ending balance at Jun. 30, 2022		1,820,450	$ 1,424,329	382,495	610	13,016
Beginning balance (in shares) at Mar. 31, 2022			146,107,688
Beginning balance at Mar. 31, 2022		1,881,639	$ 1,421,946	389,077	25,973	44,643
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		25,287		24,650		637
Net income attributable to noncontrolling interests in the operating partnership		(546)		(546)
Dividends		(42,098)		(42,098)
Costs associated with the “at-the-market” (ATM) equity offering program		(63)	$ (63)
Issuance of shares under incentive stock plans (in shares)			304,887
Issuance of shares under incentive stock plans		1,983	$ 1,983
Stock-based compensation		4,412	$ 4,412
Repurchase of common shares (in shares)			(91,820)
Repurchase of common shares		(3,991)	$ (3,991)
Adjustment of noncontrolling interests in the operating partnership		11,412		11,412
Conversion of units into common shares (in shares)			977
Conversion of units into common shares		42	$ 42
Amortization of pension and postretirement plan liabilities		188			188
Foreign currency translation adjustment		(36,285)			(34,373)	(1,912)
Cash flow hedges		5,755			8,247	(2,492)
Allocation of other comprehensive income to noncontrolling interests in the operating partnership		575			575
Noncontrolling interests in consolidated affiliates redemption of shares		(27,860)				(27,860)
Ending balance (in shares) at Jun. 30, 2022			146,321,732
Ending balance at Jun. 30, 2022		$ 1,820,450	$ 1,424,329	$ 382,495	$ 610	$ 13,016

[1] For information regarding distributions to noncontrolling interests in the operating partnership, see the Rayonier Inc. Consolidated Statements of Cash Flows and Note 4 — Noncontrolling Interests . For information regarding distributions to noncontrolling interests in the operating partnership, see the Rayonier Inc. Consolidated Statements of Cash Flows and Note 4 — Noncontrolling Interests .

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022		Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.285	$ 0.27	[1]	$ 0.27	$ 0.27	[2]
Offering issuance costs		$ 339		$ 927	$ 197

[1] For information regarding distributions to noncontrolling interests in the operating partnership, see the Rayonier Inc. Consolidated Statements of Cash Flows and Note 4 — Noncontrolling Interests . For information regarding distributions to noncontrolling interests in the operating partnership, see the Rayonier Inc. Consolidated Statements of Cash Flows and Note 4 — Noncontrolling Interests .

CONSOLIDATED STATEMENTS OF CH_3

CONSOLIDATED STATEMENTS OF CHANGES IN CAPITAL (Unaudited) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) in Partners' Capital [Roll Forward]
Net Income	$ 25,287		$ 63,420		$ 56,286	$ 78,452
Costs associated with the “at-the-market” (ATM) equity offering program	(63)
Measurement period adjustment of noncontrolling interests in consolidated affiliates			9,034	$ 655
Amortization of pension and postretirement plan liabilities	188	$ 188	294	294	376	587
Foreign currency translation adjustment	(36,285)	6,458	1,239	(14,288)	(29,827)	(13,048)
Cash flow hedges	5,755	40,427	(10,019)	61,001
Distributions to noncontrolling interests in consolidated affiliates		(1,566)	(6,474)	(8,737)
Noncontrolling interests in consolidated affiliates redemption of shares	(27,860)
Rayonier Limited Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	1,881,639	1,815,578	1,909,921	1,862,645	1,815,578	1,862,645
Net Income	25,287	30,998	63,420	15,032	56,286	78,452
Distributions	(43,042)	(40,796)	(39,135)	(38,687)
Issuance of units under the “at-the-market” equity offering, net of commissions and offering costs		29,771	79,994	36,708
Costs associated with the “at-the-market” (ATM) equity offering program	(63)
Issuance of units under incentive stock plans	1,983	415	3,325	1,166
Stock-based compensation	4,412	2,797	2,852	2,156
Repurchase of units	(3,991)	(214)	(1,453)	(155)
Adjustment of Redeemable Operating Partnership Units	12,385	(2,521)	(15,756)	(12,584)
Conversion of units into common shares	42	104	241	4,715
Measurement period adjustment of noncontrolling interests in consolidated affiliates			9,034	655
Amortization of pension and postretirement plan liabilities	188	188	294	294	376	587
Foreign currency translation adjustment	(36,285)	6,458	1,239	(14,288)	(29,827)	(13,048)
Cash flow hedges	5,755	40,427	(10,019)	61,001
Distributions to noncontrolling interests in consolidated affiliates		(1,566)	(6,474)	(8,737)
Noncontrolling interests in consolidated affiliates redemption of shares	(27,860)
Ending balance	1,820,450	1,881,639	1,997,483	1,909,921	1,820,450	1,997,483
Rayonier Limited Partnership \| Units \| General Partners’ Capital
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	18,068	17,872	15,499	15,454	17,872	15,454
Net Income	246	300	590	112
Distributions	(430)	(408)	(391)	(387)
Issuance of units under the “at-the-market” equity offering, net of commissions and offering costs		298	800	367
Costs associated with the “at-the-market” (ATM) equity offering program	(1)
Issuance of units under incentive stock plans	20	4	33	12
Stock-based compensation	44	28	29	22
Repurchase of units	(40)	(2)	(15)	(2)
Adjustment of Redeemable Operating Partnership Units	124	(25)	(158)	(126)
Conversion of units into common shares		1	2	47
Ending balance	18,031	18,068	16,389	15,499	18,031	16,389
Rayonier Limited Partnership \| Units \| Limited Partners’ Capital
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	1,788,713	1,769,367	1,534,411	1,529,948	1,769,367	1,529,948
Net Income	24,404	29,686	58,369	11,077
Distributions	(42,612)	(40,388)	(38,744)	(38,300)
Issuance of units under the “at-the-market” equity offering, net of commissions and offering costs		29,473	79,194	36,341
Costs associated with the “at-the-market” (ATM) equity offering program	(62)
Issuance of units under incentive stock plans	1,963	411	3,292	1,154
Stock-based compensation	4,368	2,769	2,823	2,134
Repurchase of units	(3,951)	(212)	(1,438)	(153)
Adjustment of Redeemable Operating Partnership Units	12,261	(2,496)	(15,598)	(12,458)
Conversion of units into common shares	42	103	239	4,668
Ending balance	1,785,126	1,788,713	1,622,548	1,534,411	1,785,126	1,622,548
Rayonier Limited Partnership \| Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	30,215	(15,463)	(21,075)	(71,345)	(15,463)	(71,345)
Amortization of pension and postretirement plan liabilities	188	188	294	294
Foreign currency translation adjustment	(34,373)	5,668	1,025	(11,652)
Cash flow hedges	8,247	39,822	(9,833)	61,628
Ending balance	4,277	30,215	(29,589)	(21,075)	4,277	(29,589)
Rayonier Limited Partnership \| Noncontrolling Interests in Consolidated Affiliates
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	44,643	43,802	381,086	388,588	43,802	388,588
Net Income	637	1,012	4,461	3,843
Measurement period adjustment of noncontrolling interests in consolidated affiliates			9,034	655
Foreign currency translation adjustment	(1,912)	790	214	(2,636)
Cash flow hedges	(2,492)	605	(186)	(627)
Distributions to noncontrolling interests in consolidated affiliates		(1,566)	(6,474)	(8,737)
Noncontrolling interests in consolidated affiliates redemption of shares	(27,860)
Ending balance	$ 13,016	$ 44,643	$ 388,135	$ 381,086	$ 13,016	$ 388,135

CONSOLIDATED STATEMENTS OF CH_4

CONSOLIDATED STATEMENTS OF CHANGES IN CAPITAL (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Offering issuance costs		$ 339	$ 927	$ 197
Rayonier Limited Partnership
Distributions declared (in dollars per unit)	$ 0.285	$ 0.27	$ 0.27	$ 0.27
Offering issuance costs		$ 339	$ 927	$ 197

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES
Net income		$ 56,286	$ 78,452
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization		83,169	87,909
Non-cash cost of land and improved development		17,139	7,003
Stock-based incentive compensation expense		7,209	5,008
Deferred income taxes		(7,272)	7,315
Amortization of losses from pension and postretirement plans		376	587
Other		(4,206)	7,233
Changes in operating assets and liabilities:
Receivables		(17,060)	(413)
Inventories		(2,398)	(1,637)
Accounts payable		6,959	4,213
All other operating activities		8,328	(764)
CASH PROVIDED BY OPERATING ACTIVITIES		148,530	164,582
INVESTING ACTIVITIES
Capital expenditures		(30,335)	(32,199)
Real estate development investments		(6,013)	(6,269)
Purchase of timberlands		(3,237)	(51,882)
Other		5,112	5,998
CASH USED FOR INVESTING ACTIVITIES		(34,473)	(49,133)
FINANCING ACTIVITIES
Issuance of debt		408,439	446,378
Repayment of debt		(533,298)	(350,000)
Dividends paid on common shares		(81,767)	(75,676)
Distributions to noncontrolling interests in the operating partnership		(1,839)	(2,309)
Proceeds from the issuance of common shares under incentive stock plan		2,561	4,490
Proceeds from the issuance of units under the “at-the-market” (ATM) equity offering program, net of commissions and offering costs		31,915	110,702
Repurchase of common shares to pay withholding taxes on vested incentive stock awards		(4,204)	(1,608)
Debt issuance costs		0	(4,812)
Distributions to noncontrolling interests in consolidated affiliates		(6,684)	(15,212)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES		(184,877)	111,953
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(2,246)	126
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash		(73,066)	227,528
Balance, beginning of year		369,139	87,482
Balance, end of period		296,073	315,010
Cash paid during the period:
Interest	[1]	16,932	17,677
Income taxes		14,330	7,132
Non-cash investing activity:
Capital assets purchased on account		4,882	4,155
Non-cash financing activity:
Noncontrolling interests in consolidated affiliates redemption of shares	[2]	27,860	0
Large Disposition Of Timberlands
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sale of large disposition of timberlands		0	(30,324)
INVESTING ACTIVITIES
Net proceeds from large disposition of timberlands		0	35,219
Rayonier Limited Partnership
OPERATING ACTIVITIES
Net income		56,286	78,452
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization		83,169	87,909
Non-cash cost of land and improved development		17,139	7,003
Stock-based incentive compensation expense		7,209	5,008
Deferred income taxes		(7,272)	7,315
Amortization of losses from pension and postretirement plans		376	587
Other		(4,206)	7,233
Changes in operating assets and liabilities:
Receivables		(17,060)	(413)
Inventories		(2,398)	(1,637)
Accounts payable		6,959	4,213
All other operating activities		8,328	(764)
CASH PROVIDED BY OPERATING ACTIVITIES		148,530	164,582
INVESTING ACTIVITIES
Capital expenditures		(30,335)	(32,199)
Real estate development investments		(6,013)	(6,269)
Purchase of timberlands		(3,237)	(51,882)
Other		5,112	5,998
CASH USED FOR INVESTING ACTIVITIES		(34,473)	(49,133)
FINANCING ACTIVITIES
Issuance of debt		408,439	446,378
Repayment of debt		(533,298)	(350,000)
Distributions on units		(83,606)	(77,985)
Proceeds from the issuance of units under incentive stock plan		2,561	4,490
Proceeds from the issuance of units under the “at-the-market” (ATM) equity offering program, net of commissions and offering costs		31,915	110,702
Repurchase of units to pay withholding taxes on vested incentive stock awards		(4,204)	(1,608)
Debt issuance costs		0	(4,812)
Distributions to noncontrolling interests in consolidated affiliates		(6,684)	(15,212)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES		(184,877)	111,953
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(2,246)	126
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash		(73,066)	227,528
Balance, beginning of year		369,139	87,482
Balance, end of period		296,073	315,010
Cash paid during the period:
Interest	[3]	16,932	17,677
Income taxes		14,330	7,132
Non-cash investing activity:
Capital assets purchased on account		4,882	4,155
Non-cash financing activity:
Noncontrolling interests in consolidated affiliates redemption of shares	[4]	27,860	0
Rayonier Limited Partnership \| Large Disposition Of Timberlands
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sale of large disposition of timberlands		0	(30,324)
INVESTING ACTIVITIES
Net proceeds from large disposition of timberlands		$ 0	$ 35,219

[1] Interest paid is presented net of patronage paymen ts receive d of $6.0 million a n d $6.8 million for the six months ended June 30, 2022 and June 30, 2021, respectively. For additional information on patronage payments, see Note 10 — Debt in the 2021 Form 10-K. In the second quarter of 2022, the New Zealand subsidiary made a capital distribution in order to redeem certain equity interests, resulting in the recording of a loan payable by the New Zealand subsidiary in the amount of $27.9 million. See Note 6 - De bt for further information. Interest paid is presented net of patronage paymen ts received of $6.0 million an d $6.8 million for the six months ended June 30, 2022 and June 30, 2021, respectively. For additional information on patronage payments, see Note 10 — Debt in the 2021 Form 10-K. In the second quarter of 2022, the New Zealand subsidiary made a capital distribution in order to redeem certain equity interests, resulting in the recording of a loan payable by the New Zealand subsidiary in the amount of $27.9 million. See Note 6 - Debt for further information.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Patronage refunds received, netted with interest paid			$ 6,000	$ 6,800
Noncontrolling interests in consolidated affiliates redemption of shares	[1]		27,860	0
Matariki Forestry Group \| New Zealand Susidiary Noncontrolling Interest Shareholder Loan Due 2026 \| Excluding Timber Funds
Noncontrolling interests in consolidated affiliates redemption of shares		$ 27,900
Rayonier Limited Partnership
Patronage refunds received, netted with interest paid			6,000	6,800
Noncontrolling interests in consolidated affiliates redemption of shares	[2]		$ 27,860	$ 0
Rayonier Limited Partnership \| Matariki Forestry Group \| New Zealand Susidiary Noncontrolling Interest Shareholder Loan Due 2026 \| Excluding Timber Funds
Noncontrolling interests in consolidated affiliates redemption of shares		$ 27,900

[1] In the second quarter of 2022, the New Zealand subsidiary made a capital distribution in order to redeem certain equity interests, resulting in the recording of a loan payable by the New Zealand subsidiary in the amount of $27.9 million. See Note 6 - De bt for further information. In the second quarter of 2022, the New Zealand subsidiary made a capital distribution in order to redeem certain equity interests, resulting in the recording of a loan payable by the New Zealand subsidiary in the amount of $27.9 million. See Note 6 - Debt for further information.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
BASIS OF PRESENTATION	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The unaudited consolidated financial statements and notes thereto of Rayonier Inc. and its subsidiaries and Rayonier, L.P. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The Rayonier Inc. and Rayonier, L.P. year-end balance sheet information was derived from audited financial statements not included herein. In the opinion of management, these financial statements and notes reflect any adjustments (all of which are normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. These statements and notes should be read in conjunction with the financial statements and supplementary data included in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC (the “2021 Form 10-K”). As of June 30, 2022, the Company owned a 97.8% interest in the Operating Partnership, with the remaining 2.2% interest owned by limited partners of the Operating Partnership. As the sole general partner of the Operating Partnership, Rayonier Inc. has exclusive control of the day-to-day management of the Operating Partnership. SUMMARY OF UPDATES TO SIGNIFICANT ACCOUNTING POLICIES For a full description of our other significant accounting policies, see Note 1 — Summary of Significant Accounting Policies in our 2021 Form 10-K. NEW ACCOUNTING STANDARDS In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, Reference Rate Reform (Topic 848) , which provides optional guidance to ease the potential burden in accounting due to reference rate reform. ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. We have elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In August 2020, the FASB issued ASU 2020-06, Debt–Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging–Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. The pronouncement eliminates the requirement that contracts legally permitting settlement in registered shares be classified as temporary equity. As a result, Redeemable Operating Partnership Units may be classified as permanent partners’ capital in the Operating Partnership’s accompanying balance sheets and the related noncontrolling interest as permanent equity in the accompanying balance sheets of Rayonier, Inc. However, the corresponding SEC guidance on equity classification has remained unchanged. We will continue to monitor any developments in this area and may reclassify the temporary partners’ capital and noncontrolling interest to permanent upon agreement in guidance. Recent accounting pronouncements adopted or pending adoption not discussed above are either not applicable or are not expected to have a material impact on our consolidated financial condition, results of operations, or cash flows. SUBSEQUENT EVENTS

SEGMENT AND GEOGRAPHICAL INFORM

SEGMENT AND GEOGRAPHICAL INFORMATION	6 Months Ended
SEGMENT AND GEOGRAPHICAL INFORMATION	Jun. 30, 2022
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHICAL INFORMATION	SEGMENT AND GEOGRAPHICAL INFORMATION Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. We evaluate financial performance based on segment operating income and Adjusted Earnings before Interest, Taxes, Depreciation, Depletion and Amortization (“Adjusted EBITDA”). Asset information is not reported by segment, as we do not produce asset information by segment internally. Operating income as presented in the Consolidated Statements of Income and Comprehensive Income is equal to segment income. Certain income (loss) items in the Consolidated Statements of Income and Comprehensive Income are not allocated to segments. These items, which include interest income (expense), miscellaneous income (expense) and income tax expense, are not considered by management to be part of segment operations and are included under “unallocated interest expense and other.” The following tables summarize the segment information for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, SALES 2022 2021 2022 2021 Southern Timber $66,271 $49,294 $143,035 $100,971 Pacific Northwest Timber 39,157 35,323 85,437 76,844 New Zealand Timber 78,882 80,559 130,271 138,138 Timber Funds (a) — 18,646 — 33,585 Real Estate (b) 34,402 74,531 68,597 85,035 Trading 27,683 34,546 41,145 51,212 Intersegment Eliminations (c) (49) (1,468) (98) (2,907) Total $246,346 $291,431 $468,387 $482,878 (a) The three and six months ended June 30, 2021 include $14.7 million and $26.7 million of sales attributable to noncontrolling interests in Timber Funds. (b) The three and six months ended June 30, 2021 includes $36.0 million from a Large Disposition. Large Dispositions are defined as transactions involving the sale of timberland that exceed $20 million in size and do not have a demonstrable premium relative to timberland value. (c) Primarily consists of the elimination of timberland investment management fees paid to us by the timber funds, which were initially recognized as sales and cost of sales within the Timber Funds segment, as well as log marketing fees paid to our Trading segment from our Southern Timber and Pacific Northwest Timber segments for marketing log export sales. Three Months Ended June 30, Six Months Ended June 30, OPERATING INCOME 2022 2021 2022 2021 Southern Timber $24,067 $16,980 $54,409 $34,327 Pacific Northwest Timber 2,943 1,872 9,550 3,222 New Zealand Timber 7,981 20,714 13,373 34,658 Timber Funds (a) — 1,991 — 3,492 Real Estate (b) 11,023 50,511 21,204 52,199 Trading (444) 418 (93) 662 Corporate and Other (10,102) (8,042) (17,657) (15,631) Total Operating Income 35,468 84,444 80,786 112,929 Unallocated interest expense and other (8,877) (14,144) (17,682) (24,175) Total Income before Income Taxes $26,591 $70,300 $63,104 $88,754 (a) The three and six months ended June 30, 2021 include $1.6 million and $2.7 million, respectively, of operating income attributable to noncontrolling interests in Timber Funds. (b) The three and six months ended June 30, 2021 includes $30.3 million from a Large Disposition. Three Months Ended June 30, Six Months Ended June 30, DEPRECIATION, DEPLETION AND AMORTIZATION 2022 2021 2022 2021 Southern Timber $14,657 $13,576 $32,716 $27,935 Pacific Northwest Timber 11,316 12,031 26,232 28,316 New Zealand Timber 6,901 6,952 11,891 14,201 Timber Funds (a) — 6,121 — 11,621 Real Estate (b) 2,564 8,535 11,709 10,092 Corporate and Other 313 313 621 576 Total $35,751 $47,528 $83,169 $92,741 (a) The three and six months ended June 30, 2021 include $5.1 million and $10.1 million, respectively, of depreciation, depletion and amortization attributable to noncontrolling interests in Timber Funds. (b) The three and six months ended June 30, 2021 includes $4.8 million from a Large Dispositions. Three Months Ended June 30, Six Months Ended June 30, NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT 2022 2021 2022 2021 Real Estate (a) $11,780 $5,254 $17,139 $7,067 Total $11,780 $5,254 $17,139 $7,067 (a) The three and six months ended June 30, 2021 includes $0.1 million from a Large Disposition.

REVENUE

REVENUE	6 Months Ended
REVENUE	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE PERFORMANCE OBLIGATIONS We recognize revenue when control of promised goods or services (“performance obligations”) is transferred to customers, in an amount that reflects the consideration expected in exchange for those goods or services (“transaction price”). We generally satisfy performance obligations within a year of entering into a contract and therefore have applied the disclosure exemption found under ASC 606-10-50-14. Unsatisfied performance obligations as of June 30, 2022 are primarily due to advances on stumpage contracts, unearned license revenue and post-closing obligations on real estate sales. These performance obligations are expected to be satisfied within the next twelve months. We generally collect payment within a year of satisfying performance obligations and therefore have elected not to adjust revenues for a financing component. CONTRACT BALANCES The timing of revenue recognition, invoicing and cash collections results in accounts receivable and deferred revenue (contract liabilities) on the Consolidated Balance Sheets. Accounts receivable are recorded when we have an unconditional right to consideration for completed performance under the contract. Contract liabilities relate to payments received in advance of performance under the contract. Contract liabilities are recognized as revenue as (or when) we perform under the contract. The following table summarizes revenue recognized during the three and six months ended June 30, 2022 and 2021 that was included in the contract liability balance at the beginning of each year: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue recognized from contract liability balance at the beginning of the year (a) $4,968 $4,049 $12,501 $9,969 (a) Revenue recognized was primarily from hunting licenses and the use of advances on pay-as-cut timber sales. The following tables present our revenue from contracts with customers disaggregated by product type for the three and six months ended June 30, 2022 and 2021: Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total June 30, 2022 Pulpwood $30,770 $3,572 $10,851 — — $2,999 — $48,192 Sawtimber 21,744 34,310 64,247 — — 24,319 — 144,620 Hardwood 5,706 — — — — — — 5,706 Total Timber Sales 58,220 37,882 75,098 — — 27,318 — 198,518 License Revenue, Primarily from Hunting 6,506 129 87 — — — — 6,722 Other Non-Timber/Carbon Revenue 1,545 1,146 3,697 — — — — 6,388 Agency Fee Income — — — — — 316 — 316 Total Non-Timber Sales 8,051 1,275 3,784 — — 316 — 13,426 Improved Development — — — — 11,566 — — 11,566 Rural — — — — 23,420 — — 23,420 Deferred Revenue/Other (a) — — — — (907) — — (907) Total Real Estate Sales — — — — 34,079 — — 34,079 Revenue from Contracts with Customers 66,271 39,157 78,882 — 34,079 27,634 — 246,023 Lease Revenue — — — — 323 — — 323 Intersegment — — — — — 49 (49) — Total Revenue $66,271 $39,157 $78,882 — $34,402 $27,683 ($49) $246,346 Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total June 30, 2021 Pulpwood $23,728 $2,078 $12,266 $395 — $3,676 — $42,143 Sawtimber 18,692 31,755 67,986 16,419 — 30,475 — 165,327 Hardwood 1,268 — — — — — — 1,268 Total Timber Sales 43,688 33,833 80,252 16,814 — 34,151 — 208,738 License Revenue, Primarily from Hunting 4,493 117 81 26 — — — 4,717 Other Non-Timber/Carbon Revenue 1,113 1,373 226 399 — — — 3,111 Agency Fee Income — — — — — 334 — 334 Total Non-Timber Sales 5,606 1,490 307 425 — 334 — 8,162 Improved Development — — — — 19,340 — — 19,340 Rural — — — — 20,297 — — 20,297 Conservation Easement — — — — 3,855 — — 3,855 Deferred Revenue/Other (a) — — — — (5,242) — — (5,242) Large Dispositions — — — — 36,000 — — 36,000 Total Real Estate Sales — — — — 74,250 — — 74,250 Revenue from Contracts with Customers 49,294 35,323 80,559 17,239 74,250 34,485 — 291,150 Lease Revenue — — — — 281 — — 281 Intersegment — — — 1,407 — 61 (1,468) — Total Revenue $49,294 $35,323 $80,559 $18,646 $74,531 $34,546 ($1,468) $291,431 Six Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total June 30, 2022 Pulpwood $68,381 $6,491 $18,446 — — $4,523 — $97,841 Sawtimber 49,260 76,524 106,347 — — 35,857 — 267,988 Hardwood 11,555 — — — — — — 11,555 Total Timber Sales 129,196 83,015 124,793 — — 40,380 — 377,384 License Revenue, Primarily From Hunting 11,182 245 148 — — — — 11,575 Other Non-Timber/Carbon Revenue 2,657 2,177 5,330 — — — — 10,164 Agency Fee Income — — — — — 667 — 667 Total Non-Timber Sales 13,839 2,422 5,478 — — 667 — 22,406 Improved Development — — — — 16,532 — — 16,532 Rural — — — — 40,369 — — 40,369 Timberland & Non-Strategic — — — — 11,400 — — 11,400 Deferred Revenue/Other (a) — — — — (271) — — (271) Total Real Estate Sales — — — — 68,030 — — 68,030 Revenue from Contracts with Customers 143,035 85,437 130,271 — 68,030 41,047 — 467,820 Lease Revenue — — — — 567 — — 567 Intersegment — — — — — 98 (98) — Total Revenue $143,035 $85,437 $130,271 — $68,597 $41,145 ($98) $468,387 Six Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total June 30, 2021 Pulpwood $45,584 $4,573 $21,809 $655 — $5,510 — $78,131 Sawtimber 40,655 69,513 115,777 29,727 — 44,865 — 300,537 Hardwood 1,673 — — — — — — 1,673 Total Timber Sales 87,912 74,086 137,586 30,382 — 50,375 — 380,341 License Revenue, Primarily from Hunting 8,913 207 139 29 — — — 9,288 Other Non-Timber/Carbon Revenue 4,146 2,551 413 413 — — — 7,523 Agency Fee Income — — — — — 691 — 691 Total Non-Timber Sales 13,059 2,758 552 442 — 691 — 17,502 Improved Development — — — — 19,592 — — 19,592 Rural — — — — 30,062 — — 30,062 Conservation Easement — — — — 3,855 — — 3,855 Deferred Revenue/Other (a) — — — — (4,987) — — (4,987) Large Dispositions — — — — 36,000 — — 36,000 Total Real Estate Sales — — — — 84,522 — — 84,522 Revenue from Contracts with Customers 100,971 76,844 138,138 30,824 84,522 51,066 — 482,365 Lease Revenue — — — — 513 — — 513 Intersegment — — — 2,761 — 146 (2,907) — Total Revenue $100,971 $76,844 $138,138 $33,585 $85,035 $51,212 ($2,907) $482,878 (a) Includes deferred revenue adjustments, revenue true-ups and marketing fees related to Improved Development sales. The following tables present our timber sales disaggregated by contract type for the three and six months ended June 30, 2022 and 2021: Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Trading Total June 30, 2022 Stumpage Pay-as-Cut $21,326 — — — — $21,326 Stumpage Lump Sum 90 85 — — — 175 Total Stumpage 21,416 85 — — — 21,501 Delivered Wood (Domestic) 33,248 33,956 18,051 — 1,104 86,359 Delivered Wood (Export) 3,556 3,841 57,047 — 26,214 90,658 Total Delivered 36,804 37,797 75,098 — 27,318 177,017 Total Timber Sales $58,220 $37,882 $75,098 — $27,318 $198,518 June 30, 2021 Stumpage Pay-as-Cut $15,183 — — $197 — $15,380 Stumpage Lump Sum 4,645 932 — — — 5,577 Total Stumpage 19,828 932 — 197 — 20,957 Delivered Wood (Domestic) 19,955 32,901 19,250 16,617 1,236 89,959 Delivered Wood (Export) 3,905 — 61,002 — 32,915 97,822 Total Delivered 23,860 32,901 80,252 16,617 34,151 187,781 Total Timber Sales $43,688 $33,833 $80,252 $16,814 $34,151 $208,738 Six Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Trading Total June 30, 2022 Stumpage Pay-as-Cut $57,532 — — — — $57,532 Stumpage Lump Sum 90 5,473 — — — 5,563 Total Stumpage 57,622 5,473 — — — 63,095 Delivered Wood (Domestic) 65,376 73,402 31,532 — 1,729 172,039 Delivered Wood (Export) 6,198 4,140 93,261 — 38,651 142,250 Total Delivered 71,574 77,542 124,793 — 40,380 314,289 Total Timber Sales $129,196 $83,015 $124,793 — $40,380 $377,384 June 30, 2021 Stumpage Pay-as-Cut $36,440 — — $197 — $36,637 Stumpage Lump Sum 4,647 7,063 — — — 11,710 Total Stumpage 41,087 7,063 — 197 — 48,347 Delivered Wood (Domestic) 38,014 67,023 36,356 30,185 2,327 173,905 Delivered Wood (Export) 8,811 — 101,230 — 48,048 158,089 Total Delivered 46,825 67,023 137,586 30,185 50,375 331,994 Total Timber Sales $87,912 $74,086 $137,586 $30,382 $50,375 $380,341

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	6 Months Ended
NONCONTROLLING INTERESTS	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
NONCONTROLLING INTERESTS	NONCONTROLLING INTERESTS NONCONTROLLING INTERESTS IN CONSOLIDATED AFFILIATES Matariki Forestry Group We maintain a 77% controlling financial interest in Matariki Forestry Group (the “New Zealand subsidiary”), a joint venture that owns or leases approximately 418,000 legal acres of New Zealand timberland. Accordingly, we consolidate the New Zealand subsidiary’s balance sheet and results of operations. Income attributable to the New Zealand subsidiary’s 23% noncontrolling interests is reflected as an adjustment to income in our Consolidated Statements of Income and Comprehensive Income under the caption “Net income attributable to noncontrolling interests in consolidated affiliates.” Rayonier New Zealand Limited (“RNZ”), a wholly-owned subsidiary, serves as the manager of the New Zealand subsidiary. NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP Noncontrolling interests in the operating partnership relate to the third-party ownership of Redeemable Operating Partnership Units. Net income attributable to the noncontrolling interests in the operating partnership is computed by applying the weighted average Redeemable Operating Partnership Units outstanding during the period as a percentage of the weighted average total units outstanding to the Operating Partnership’s net income for the period. If a noncontrolling unitholder redeems a unit for a registered common share of Rayonier or cash, the noncontrolling interests in the operating partnership will be reduced and the Company’s share in the Operating Partnership will be increased by the fair value of each security at the time of redemption. The following table sets forth the Company’s noncontrolling interests in the operating partnership: Three Months Ended June 30, Six Months Ended 2022 2021 2022 2021 Beginning noncontrolling interests in the operating partnership $136,239 $137,990 $133,823 $130,121 Adjustment of noncontrolling interests in the operating partnership (11,412) 15,410 (8,767) 27,277 Conversions of Redeemable Operating Partnership Units to Common Shares (42) (241) (146) (4,956) Net Income attributable to noncontrolling interests in the operating partnership 546 1,753 1,214 2,094 Other Comprehensive (Loss) Income attributable to noncontrolling interests in the operating partnership (575) (253) (474) 1,278 Distributions to noncontrolling interests in the operating partnership (945) (1,154) (1,839) (2,309) Total noncontrolling interests in the operating partnership $123,811 $153,505 $123,811 $153,505

EARNINGS PER SHARE AND PER UNIT

EARNINGS PER SHARE AND PER UNIT	6 Months Ended
EARNINGS PER SHARE AND PER UNIT	Jun. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE AND PER UNIT	EARNINGS PER SHARE AND PER UNIT The following table provides details of the calculations of basic and diluted earnings per common share of the Company: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Earnings per common share - basic Numerator: Net Income $25,287 $63,420 $56,286 $78,452 Less: Net income attributable to noncontrolling interests in the operating partnership (546) (1,753) (1,214) (2,094) Less: Net income attributable to noncontrolling interests in consolidated affiliates (637) (4,461) (1,650) (8,304) Net income attributable to Rayonier Inc. $24,104 $57,206 $53,422 $68,054 Denominator: Denominator for basic earnings per common share - weighted average shares 146,257,311 139,556,748 145,846,026 138,718,442 Basic earnings per common share attributable to Rayonier Inc.: $0.16 $0.41 $0.37 $0.49 Earnings per common share - diluted Numerator: Net Income $25,287 $63,420 $56,286 $78,452 Less: Net income attributable to noncontrolling interests in consolidated affiliates (637) (4,461) (1,650) (8,304) Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the operating partnership $24,650 $58,959 $54,636 $70,148 Denominator: Denominator for basic earnings per common share - weighted average shares 146,257,311 139,556,748 145,846,026 138,718,442 Add: Dilutive effect of: Stock options 8,100 12,646 7,664 8,348 Performance shares, restricted shares and restricted stock units 666,653 210,923 730,773 282,027 Noncontrolling interests in operating partnership units 3,312,315 4,275,912 3,313,543 4,303,201 Denominator for diluted earnings per common share - adjusted weighted average shares 150,244,379 144,056,229 149,898,006 143,312,018 Diluted earnings per common share attributable to Rayonier Inc.: $0.16 $0.41 $0.36 $0.49 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Anti-dilutive shares excluded from the computations of diluted earnings per common share: Stock options, performance shares, restricted shares and restricted stock units 109,515 208,614 54,884 201,435 Total 109,515 208,614 54,884 201,435 The following table provides details of the calculations of basic and diluted earnings per unit of the Operating Partnership: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Earnings per unit - basic Numerator: Net Income $25,287 $63,420 $56,286 $78,452 Less: Net income attributable to noncontrolling interests in consolidated affiliates (637) (4,461) (1,650) (8,304) Net income available to unitholders $24,650 $58,959 $54,636 $70,148 Denominator: Denominator for basic earnings per unit - weighted average units 149,569,626 143,832,660 149,159,569 143,021,643 Basic earnings per unit attributable to Rayonier, L.P.: $0.16 $0.41 $0.37 $0.49 Earnings per unit - diluted Numerator: Net Income $25,287 $63,420 $56,286 $78,452 Less: Net income attributable to noncontrolling interests in consolidated affiliates (637) (4,461) (1,650) (8,304) Net income available to unitholders $24,650 $58,959 $54,636 $70,148 Denominator: Denominator for basic earnings per unit - weighted average units 149,569,626 143,832,660 149,159,569 143,021,643 Add: Dilutive effect of unit equivalents: Stock options 8,100 12,646 7,664 8,348 Performance shares, restricted shares and restricted stock units 666,653 210,923 730,773 282,027 Denominator for diluted earnings per unit - adjusted weighted average units 150,244,379 144,056,229 149,898,006 143,312,018 Diluted earnings per unit attributable to Rayonier, L.P.: $0.16 $0.41 $0.36 $0.49 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit: Stock options, performance shares, restricted shares and restricted stock units 109,515 208,614 54,884 201,435 Total 109,515 208,614 54,884 201,435

DEBT

DEBT	6 Months Ended
DEBT	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Our debt consisted of the following at June 30, 2022: June 30, 2022 Debt Term Credit Agreement borrowings due 2028 at a variable interest rate of 2.7% at June 30, 2022 (a) $350,000 Senior Notes due 2031 at a fixed interest rate of 2.75% 450,000 Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 2.7% at June 30, 2022 (b) 200,000 2021 Incremental Term Loan Facility Borrowings due 2029 at a variable interest rate of 2.6% at June 30, 2022 (c) 200,000 New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95% (d) 21,451 New Zealand subsidiary noncontrolling interests shareholder loan due 2026 at a fixed interest rate of 3.64% (d) 25,026 New Zealand subsidiary noncontrolling interests shareholder loan due 2027 at a fixed interest rate of 6.48% (d) 25,026 New Zealand Working Capital Facility due 2023 at a variable interest rate of 3.1% at June 30, 2022 622 Total principal debt 1,272,125 Less: Unamortized discounts (3,266) Less: Current maturities of long-term debt (622) Less: Deferred financing costs (4,843) Total long-term debt $1,263,394 (a) As of June 30, 2022, the periodic interest rate on the term credit agreement (the “Term Credit Agreement”) was LIBOR plus 1.600%. We estimate the effective fixed interest rate on the term loan facility to be approximately 3.0% after consideration of interest rate swaps and estimated patronage refunds. (b) As of June 30, 2022, the periodic interest rate on the incremental term loan (the “Incremental Term Loan Agreement”) was LIBOR plus 1.650%. We estimate the effective fixed interest rate on the incremental term loan facility to be approximately 2.4% after consideration of interest rate swaps and estimated patronage refunds. (c) As of June 30, 2022, the periodic interest rate on the 2021 incremental term loan (the “2021 Incremental Term Loan Facility”) was LIBOR plus 1.550%. We estimate the effective fixed interest rate on the incremental term loan facility to be approximately 1.5% after consideration of interest rate swaps and estimated patronage refunds. (d) Except for changes in the New Zealand foreign exchange rate, there have been no adjustments to the carrying value of the shareholder loans since inception. Principal payments due during the next five years and thereafter are as follows: Total 2022 — 2023 622 2024 — 2025 21,451 2026 225,026 Thereafter 1,025,026 Total Debt $1,272,125 2022 DEBT ACTIVITY U.S. Debt On January 3, 2022, we drew $200.0 million on our Revolving Credit Facility. On January 4, 2022, we repaid the $325.0 million Senior Notes due 2022 with $125.0 million of cash and the $200.0 million previously drawn on the Revolving Credit Facility. We then made a $200.0 million draw on our 2021 Incremental Term Loan Facility and simultaneously repaid the outstanding principal on our Revolving Credit Facility. The periodic interest rate on the 2021 Incremental Term Loan agreement is subject to a pricing grid based on our leverage ratio, as defined in the credit agreement. As of June 30, 2022, the periodic interest rate on the 2021 Incremental Term Loan is LIBOR plus 1.55%. Monthly payments of interest only are due on this loan through maturity. On February 1, 2022, our $200.0 million notional forward-starting interest rate swap matured into an active interest rate swap. This interest rate swap will fix the cost of the 2021 Incremental Term Loan Facility over its seven-year term. We estimate the effective interest rate on the 2021 Incremental Term Loan Facility to be approximately 1.5% after consideration of interest rate swaps and estimated patronage refunds. At June 30, 2022, we had available borrowings of $299.1 million under the Revolving Credit Facility, net of $0.9 million to secure our outstanding letters of credit. New Zealand Debt In June 2022, the New Zealand subsidiary renewed its NZ$20 million working capital facility for an additional 12-month term. During the six months ended June 30, 2022, the New Zealand subsidiary made US$0.6 million of borrowings, net of repayments and changes in exchange rates, on its working capital facility (the “New Zealand Working Capital Facility”). At June 30, 2022, the New Zealand subsidiary had NZ$19.0 million of available borrowings under its working capital facility. In April 2022, the New Zealand subsidiary made a capital distribution to its partners on a pro rata basis in order to redeem certain equity interests, which was reinvested by the partners in shareholder loans to the New Zealand subsidiary. Our capital distribution and portion of the shareholder loan are eliminated in consolidation. The capital distribution to the minority shareholder and its reinvestment in the shareholder loan resulted in the recording of a loan payable by the New Zealand subsidiary in the amount of $27.9 million due in 2027 at a fixed interest rate of 6.48%. As of June 30, 2022, the outstanding balance on the shareholder loan due 2027 is $25.0 million. Except for changes in the New Zealand foreign exchange rate, there have been no adjustments to the carrying value of the shareholder loan since its inception. See Note 4 — Noncontrolling Interests for more information regarding the New Zealand subsidiary. DEBT COVENANTS In connection with our $350 million Term Credit Agreement, $200 million Incremental Term Loan Agreement, $200 million 2021 Incremental Term Loan Facility and $300 million Revolving Credit Facility, customary covenants must be met, the most significant of which include interest coverage and leverage ratios. The covenants listed below, which are the most significant financial covenants in effect as of June 30, 2022, are calculated on a trailing 12-month basis: Covenant Requirement Actual Ratio Favorable Covenant EBITDA to consolidated interest expense should not be less than 2.5 to 1 13.6 to 1 11.1 Covenant debt to covenant net worth plus covenant debt shall not exceed 65 % 41 % 24 % In addition to these financial covenants listed above, the Senior Notes due 2031, Term Credit Agreement, Incremental Term Loan Agreement, 2021 Incremental Term Loan Facility, and Revolving Credit Facility include customary covenants that limit the incurrence of debt and the disposition of assets, among others. At June 30, 2022, we were in compliance with all applicable covenants.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to market risk related to potential fluctuations in foreign currency exchange rates and interest rates. We use derivative financial instruments to mitigate the financial impact of exposure to these risks. Accounting for derivative financial instruments is governed by ASC Topic 815, Derivatives and Hedging , (“ASC 815”). In accordance with ASC 815, we record our derivative instruments at fair value as either assets or liabilities in the Consolidated Balance Sheets. Changes in the instruments’ fair value are accounted for based on their intended use. Gains and losses on derivatives that are designated and qualify for cash flow hedge accounting are recorded as a component of accumulated other comprehensive income (“AOCI”) and reclassified into earnings when the hedged transaction materializes. Gains and losses on derivatives that are designated and qualify for net investment hedge accounting are recorded as a component of AOCI and will not be reclassified into earnings until the investment is partially or completely liquidated. The changes in the fair value of derivatives not designated as hedging instruments and those which are no longer effective as hedging instruments, are recognized immediately in earnings. FOREIGN CURRENCY EXCHANGE AND OPTION CONTRACTS Our New Zealand subsidiary is exposed to foreign currency risk, as its functional currency is the New Zealand dollar, but has certain cash flows denominated U.S. dollars. Domestic sales and operating expenses are predominately denominated in New Zealand dollars, while its export sales, shareholder distributions and ocean freight payments are predominately denominated in U.S. dollars. To the extent New Zealand dollar costs exceed New Zealand dollar revenues (the “foreign exchange exposure”), the New Zealand subsidiary manages it through the use of derivative financial instruments. It typically hedges a portion of export sales receipts to cover 50% to 90% of the projected foreign exchange exposure for the following 12 months, up to 75% for the forward 12 to 18 months and up to 50% for the forward 18 to 24 months. Additionally, it will occasionally hedge export sales receipts to cover up to 50% of the foreign exchange exposure for the forward 24 to 48 months when the New Zealand dollar is at a cyclical low versus the U.S. dollar. The New Zealand subsidiary’s trading operations typically hedges a portion of export sales receipts to cover the projected foreign exchange exposure for the following three months. As of June 30, 2022, foreign currency exchange contracts and foreign currency option contracts had maturity dates through August 2024 and December 2024, respectively. Foreign currency exchange and option contracts hedging foreign currency risk qualify for cash flow hedge accounting. We may de-designate these cash flow hedge relationships in advance or at the occurrence of the forecasted transaction. The portion of gains or losses on the derivative instrument previously accumulated in other comprehensive income for de-designated hedges remains in accumulated other comprehensive income until the forecasted transaction affects earnings. Changes in the value of derivative instruments after de-designation are recorded in earnings. INTEREST RATE PRODUCTS We are exposed to cash flow interest rate risk on our variable-rate debt and on anticipated debt issuances. We use variable-to-fixed interest rate swaps and forward-starting interest rate swap agreements to hedge this exposure. For these derivative instruments, we report the gains/losses from the fluctuations in the fair market value of the hedges in AOCI and reclassify them to earnings as interest expense in the same period in which the hedged interest payments affect earnings. To the extent we de-designate or terminate a cash flow hedging relationship and the associated hedged item continues to exist, any unrealized gain or loss of the cash flow hedge at the time of de-designation remains in AOCI and is amortized using the straight-line method through interest expense over the remaining life of the hedged item. To the extent the associated hedged item is no longer effective, the gain or loss is reclassified out of AOCI to earnings immediately. INTEREST RATE SWAPS The following table contains information on the outstanding interest rate swaps as of June 30, 2022: Outstanding Interest Rate Swaps (a) Date Entered Into Term Notional Amount Related Debt Facility Fixed Rate of Swap Bank Margin on Debt Total Effective Interest Rate (b) August 2015 9 years $170,000 Term Credit Agreement 2.20 % 1.60 % 3.80 % August 2015 9 years 180,000 Term Credit Agreement 2.35 % 1.60 % 3.95 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.65 % 3.25 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.65 % 3.25 % May 2021 (c) 7 years 200,000 2021 Incremental Term Loan Facility 0.77 % 1.55 % 2.32 % (a) All interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting. (b) Rate is before estimated patronage payments. (c) On February 1, 2022, our $200.0 million notional forward-starting interest rate swap matured into an active interest rate swap. See Note 6 - Debt for additional information. FORWARD-STARTING INTEREST RATE SWAPS The following table contains information on the outstanding forward-starting interest rate swaps as of June 30, 2022: Outstanding Forward-Starting Interest Rate Swaps (a) Date Entered Into Term Notional Amount Fixed Rate of Swap Related Debt Facility Forward Date Maximum Period Ending for Forecasted Issuance Date April 2020 4 years $100,000 0.88 % Term Credit Agreement August 2024 N/A May 2020 4 years 50,000 0.74 % Term Credit Agreement August 2024 N/A (a) All forward-starting interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting. The following tables demonstrate the impact, gross of tax, of our derivatives on the Consolidated Statements of Income and Comprehensive Income for the three and six months ended June 30, 2022 and 2021: Three Months Ended Income Statement Location 2022 2021 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive (loss) income ($14,352) ($896) Foreign currency option contracts Other comprehensive (loss) income (686) (230) Interest rate products Other comprehensive (loss) income 14,636 (14,587) Interest expense 1,948 5,377 Six Months Ended Income Statement Location 2022 2021 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive (loss) income ($10,839) ($3,747) Foreign currency option contracts Other comprehensive (loss) income (550) (1,158) Interest rate products Other comprehensive (loss) income 49,765 45,144 Interest expense 4,618 9,371 During the next 12 months, the amount of the June 30, 2022 AOCI balance, net of tax, expected to be reclassified into earnings is a gain of approximately $3.1 million. The following table contains details of the expected reclassified amounts into earnings: Amount expected to be reclassified into earnings in next 12 months Derivatives designated as cash flow hedges: Foreign currency exchange contracts ($6,784) Foreign currency option contracts (51) Interest rate products 9,908 Total estimated gain on derivatives contracts $3,073 The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets: Notional Amount June 30, 2022 December 31, 2021 Derivatives designated as cash flow hedges: Foreign currency exchange contracts $160,500 $149,250 Foreign currency option contracts 32,000 14,000 Interest rate swaps 750,000 550,000 Forward-starting interest rate swaps 150,000 350,000 The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets at June 30, 2022 and December 31, 2021. Changes in balances of derivative financial instruments are recorded as operating activities in the Consolidated Statements of Cash Flows: Location on Balance Sheet Fair Value Assets / (Liabilities) (a) June 30, 2022 December 31, 2021 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other current assets — $721 Other assets — 86 Other current liabilities (9,424) (2,061) Other non-current liabilities (3,364) (694) Foreign currency option contracts Other current assets 7 — Other assets 446 228 Other current liabilities (78) — Other non-current liabilities (967) (270) Interest rate swaps Other assets 40,909 — Other non-current liabilities — (15,582) Forward-starting interest rate swaps Other assets 9,106 11,482 Total derivative contracts: Other current assets $7 $721 Other assets 50,461 11,796 Total derivative assets $50,468 $12,517 Other current liabilities (9,502) (2,061) Other non-current liabilities (4,331) (16,546) Total derivative liabilities ($13,833) ($18,607) (a) See Note 8 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy. OFFSETTING DERIVATIVES Derivative financial instruments are presented at their gross fair values in the Consolidated Balance Sheets. Our derivative financial instruments are not subject to master netting arrangements, which would allow the right of offset.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
FAIR VALUE MEASUREMENTS	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS FAIR VALUE OF FINANCIAL INSTRUMENTS A three-level hierarchy that prioritizes the inputs used to measure fair value was established in the Accounting Standards Codification as follows: Level 1 — Quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than quoted prices included in Level 1. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table presents the carrying amount and estimated fair values of our financial instruments as of June 30, 2022 and December 31, 2021, using market information and what we believe to be appropriate valuation methodologies under GAAP: June 30, 2022 December 31, 2021 Asset (Liability) (a) Carrying Fair Value Carrying Fair Value Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents, excluding Timber Funds $279,331 $279,331 — $358,680 $358,680 — Cash and cash equivalents, Timber Funds 949 949 — 3,493 3,493 — Restricted cash, Timber Funds (b) 1,464 1,464 — 6,341 6,341 — Restricted cash, excluding Timber Funds (c) 14,329 14,329 — 625 625 — Current maturities of long-term debt (d) (622) — (622) (124,965) — (125,288) Long-term debt (d) (1,263,394) — (1,196,582) (1,242,819) — (1,245,148) Interest rate swaps (e) 40,909 — 40,909 (15,582) — (15,582) Forward-starting interest rate swaps (e) 9,106 — 9,106 11,482 — 11,482 Foreign currency exchange contracts (e) (12,788) — (12,788) (1,948) — (1,948) Foreign currency option contracts (e) (592) — (592) (42) — (42) Noncontrolling interests in the operating partnership (f) 123,811 123,811 — 133,823 133,823 — (a) We did not have Level 3 assets or liabilities at June 30, 2022 and December 31, 2021. (b) Restricted cash, Timber Funds represents the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. See Note 19 — Restricted Cash for additional information. (c) Restricted cash, excluding Timber Funds represents proceeds from like-kind exchange sales deposited with a third-party intermediary and cash held in escrow. See Note 19 — Restricted Cash for additional information. (d) The carrying amount of long-term debt is presented net of deferred financing costs and unamortized discounts on non-revolving debt. See Note 6 — Debt for additional information. (e) See Note 7 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets 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. See Note 4 — Noncontrolling Interests for additional information. We use the following methods and assumptions in estimating the fair value of our financial instruments: Cash and cash equivalents and Restricted cash — The carrying amount is equal to fair market value. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities. The variable rate debt adjusts with changes in the market rate, therefore the carrying value approximates fair value. Interest rate swap agreements — The fair value of interest rate contracts is determined by discounting the expected future cash flows, for each instrument, at prevailing interest rates. Foreign currency exchange contracts — The fair value of foreign currency exchange contracts is determined by a mark-to-market valuation, which estimates fair value by discounting the difference between the contracted forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate. Foreign currency option contracts — The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black-Scholes option pricing model. Noncontrolling interests in the operating partnership — The fair value of noncontrolling interests in the operating partnership is determined based on the period-end closing price of Rayonier Inc. common shares.

COMMITMENTS

COMMITMENTS	6 Months Ended
COMMITMENTS	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	COMMITMENTS At June 30, 2022, the future minimum payments under non-cancellable commitments were as follows: Environmental Remediation (a) Development Projects (b) Commitments (c) Total Remaining 2022 $726 $19,676 $8,480 $28,882 2023 3,874 3,239 12,024 19,137 2024 3,839 267 4,433 8,539 2025 1,010 267 1,192 2,469 2026 451 267 360 1,078 Thereafter 1,358 4,062 — 5,420 $11,258 $27,778 $26,489 $65,525 (a) Environmental remediation represents our estimate of potential liability associated with environmental contamination and Natural Resource Damages (NRD) in Port Gamble, Washington. See Note 11 - Environmental and Natural Resource Damage Liabilities for additional information. (b) Primarily consisting of payments expected to be made on our Wildlight and Heartwood development projects.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
CONTINGENCIES	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIESWe have been named as a defendant in various lawsuits and claims arising in the normal course of business. While we have procured reasonable and customary insurance covering risks normally occurring in connection with our businesses, we have in certain cases retained some risk through the operation of large deductible insurance plans, primarily in the areas of executive risk, property, automobile and general liability. These pending lawsuits and claims, either individually or in the aggregate, are not expected to have a material adverse effect on our financial position, results of operations, or cash flow.

ENVIRONMENTAL AND NATURAL RESOU

ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES	6 Months Ended
ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES	Jun. 30, 2022
Environmental Remediation Obligations [Abstract]
ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES	ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES Various federal and state environmental laws in the states in which we operate place cleanup or restoration liability on the current and former owners of affected real estate. These laws are often a source of “strict liability,” meaning that an owner or operator need not necessarily have caused, or even been aware of, the release of contaminated materials. Similarly, there are certain environmental laws that allow state, federal, and tribal trustees (collectively, the “Trustees”) to bring suit against property owners to recover damage for injuries to natural resources. Like the liability that attaches to current property owners in the cleanup context, liability for natural resource damages (“NRD”) can attach to a property simply because an injury to natural resources resulted from releases of contaminated materials on or from the owner’s property, regardless of culpability for the release. Changes in environmental and NRD liabilities from December 31, 2021 to June 30, 2022 are shown below: Port Gamble, WA Non-current portion at December 31, 2021 $10,110 Plus: Current portion 695 Total Balance at December 31, 2021 10,805 Expenditures charged to liabilities (245) Increase to liabilities 698 Total Balance at June 30, 2022 11,258 Less: Current portion (766) Non-current portion at June 30, 2022 $10,492 It is expected that the upland mill site cleanup and NRD restoration will occur over the next one Note 9 - Commitments .

GUARANTEES

GUARANTEES	6 Months Ended
GUARANTEES	Jun. 30, 2022
Guarantees [Abstract]
GUARANTEES	GUARANTEES We provide financial guarantees as required by creditors, insurance programs, and various governmental agencies. As of June 30, 2022, the following financial guarantees were outstanding: Financial Commitments (a) Maximum Potential Standby letters of credit $885 Surety bonds (b) 23,194 Total financial commitments $24,079 (a) We have not recorded any liabilities for these financial commitments in our Consolidated Balance Sheets. The guarantees are not subject to measurement, as the guarantees are dependent on our own performance. (b) Surety bonds are issued primarily to secure performance obligations related to various operational activities, to provide collateral for our Wildlight development project in Nassau County, Florida and in connection with pending and completed sales from the Harbor Hill project in Gig Harbor, Washington. These surety bonds expire at various dates during 2022, 2023, 2024 and 2025 and are expected to be renewed as required.

HIGHER AND BETTER USE TIMBERLAN

HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS We routinely assess potential alternative uses of our timberlands, as some properties may become more valuable for development, residential, recreation or other purposes. We periodically transfer, via a sale or contribution from the real estate investment trust (“REIT”) entities to taxable REIT subsidiaries (“TRS”), higher and better use (“HBU”) timberlands to enable land-use entitlement, development or marketing activities. We also acquire HBU properties in connection with timberland acquisitions. These properties are managed as timberlands until sold or developed. While the majority of HBU sales involve rural and recreational land, we also selectively pursue various land-use entitlements on certain properties for residential, commercial and industrial development in order to enhance the long-term value of such properties. For selected development properties, we also invest in targeted infrastructure improvements, such as roadways and utilities, to accelerate the marketability and improve the value of such properties. Changes in higher and better use timberlands and real estate development investments from December 31, 2021 to June 30, 2022 are shown below: Higher and Better Use Timberlands and Real Estate Development Investments Land and Timber Development Investments Total Non-current portion at December 31, 2021 $87,910 $18,968 $106,878 Plus: Current portion (a) 718 24,022 24,740 Total Balance at December 31, 2021 88,628 42,990 131,618 Non-cash cost of land and improved development (579) (9,617) (10,196) Amortization of parcel real estate development investments — (3,212) (3,212) Timber depletion from harvesting activities and basis of timber sold in real estate sales (633) — (633) Capitalized real estate development investments (b) — 8,957 8,957 Capital expenditures (silviculture) 116 — 116 Intersegment transfers 4,345 — 4,345 Total Balance at June 30, 2022 91,877 39,118 130,995 Less: Current portion (a) (1,058) (17,440) (18,498) Non-current portion at June 30, 2022 $90,819 $21,678 $112,497 (a) The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 14 — Inventory for additional information. (b) Capitalized real estate development investments include $0.4 million of capitalized interest and $2.9 million of parcel real estate development investments. Parcel real estate development investments represent investments made for specific lots and/or commercial parcels that are currently under contract or expected to be ready for market within a year.

INVENTORY

INVENTORY	6 Months Ended
INVENTORY	Jun. 30, 2022
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY As of June 30, 2022 and December 31, 2021, our inventory consisted entirely of finished goods, as follows: June 30, 2022 December 31, 2021 Finished goods inventory Real estate inventory (a) $18,498 $24,740 Log inventory 6,832 3,783 Total inventory $25,330 $28,523 (a) Represents the cost of HBU real estate (including capitalized development investments) under contract to be sold as well as the cost of HBU real estate deferred until post-closing obligations are satisfied. See Note 13 — Higher And Better Use Timberlands and Real Estate Development Investments for additional information.

OTHER OPERATING (EXPENSE) INCOM

OTHER OPERATING (EXPENSE) INCOME, NET	6 Months Ended
OTHER OPERATING (EXPENSE) INCOME, NET	Jun. 30, 2022
Other Income and Expenses [Abstract]
OTHER OPERATING (EXPENSE) INCOME, NET	OTHER OPERATING INCOME (EXPENSE), NET Other operating income (expense), net consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Gain on foreign currency remeasurement, net of cash flow hedges $1,249 $1,922 $677 $4,351 Gain on sale or disposal of property and equipment 6 3 31 93 Log trading marketing fees — — — 6 Equity (loss) income related to Bainbridge Landing LLC joint venture (145) 186 (370) 206 Miscellaneous expense, net (309) (155) (520) (252) Total $801 $1,956 ($182) $4,404

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	6 Months Ended
EMPLOYEE BENEFIT PLANS	Jun. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS We have one qualified non-contributory defined benefit pension plan covering a portion of our employees and an unfunded plan that provides benefits in excess of amounts allowable under current tax law in the qualified plans. We closed enrollment in the pension plans to salaried employees hired after December 31, 2005. Effective December 31, 2016, we froze benefits for all employees participating in the pension plan. In lieu of the pension plan, we provide those employees with an enhanced 401(k) plan match similar to what is currently provided to employees hired after December 31, 2005. Employee benefit plan liabilities are calculated using actuarial estimates and management assumptions. These estimates are based on historical information, along with certain assumptions about future events. Changes in assumptions, as well as changes in actual experience, could cause the estimates to change. We are not required to make mandatory 2022 pension contributions due to our plan’s improved funded status and have made no pension contribution payments during the six months ended June 30, 2022. The net pension and postretirement benefit (credits) costs that have been recorded are shown in the following table: Components of Net Periodic Benefit (Credit) Cost Income Statement Location Pension Postretirement Three Months Ended Three Months Ended 2022 2021 2022 2021 Service cost Selling and general expenses — — $2 $2 Interest cost Interest and other miscellaneous income (expense), net 609 557 13 11 Expected return on plan assets (a) Interest and other miscellaneous income (expense), net (872) (936) — — Amortization of losses Interest and other miscellaneous income (expense), net 184 288 4 5 Net periodic benefit (credit) cost ($79) ($91) $19 $18 Components of Net Periodic Benefit (Credit) Cost Income Statement Location Pension Postretirement Six Months Ended Six Months Ended 2022 2021 2022 2021 Service cost Selling and general expenses — — $3 $4 Interest cost Interest and other miscellaneous income (expense), net 1,217 1,114 26 23 Expected return on plan assets (a) Interest and other miscellaneous income (expense), net (1,743) (1,873) — — Amortization of losses Interest and other miscellaneous income (expense), net 369 577 7 10 Net periodic benefit (credit) cost ($157) ($182) $36 $37 (a) The weighted-average expected long-term rate of return on plan assets used in computing 2022 net periodic benefit cost for pension benefit s i s 5.0%.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Rayonier is a REIT under the Internal Revenue Code and therefore generally does not pay U.S. federal or state income tax. As of June 30, 2022, Rayonier owns a 97.8% interest in the Operating Partnership and conducts substantially all of its timberland operations through the Operating Partnership. The taxable income or loss generated by the Operating Partnership is passed through and reported to its unit holders (including the Company) on a Schedule K-1 for inclusion in each unitholder’s income tax return. Certain operations, including log trading and certain real estate activities, such as the entitlement, development and sale of HBU properties, are conducted through our TRS. The TRS subsidiaries are subject to United States federal and state corporate income tax. The New Zealand timber operations are conducted by the New Zealand subsidiary, which is subject to corporate-level tax at 28% in New Zealand and is treated as a partnership for U.S. income tax purposes. PROVISION FOR INCOME TAXES The Company’s tax expense is principally related to corporate-level tax in New Zealand and non-resident withholding tax on repatriation of earnings from New Zealand. The following table contains the income tax expense recognized on the Consolidated Statements of Income and Comprehensive Income: Three Months Ended Six Months Ended 2022 2021 2022 2021 Income tax expense ($1,304) ($6,880) ($6,818) ($10,302) ANNUAL EFFECTIVE TAX RATE The Company’s effective tax rate after discrete items is below the 21.0% U.S. statutory rate due to tax benefits associated with being a REIT. The following table contains the Company’s annualized effective tax rate after discrete items: Six Months Ended 2022 2021 Annualized effective tax rate after discrete items 9.2 % 11.0 %

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Jun. 30, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in AOCI by component for the six months ended June 30, 2022 and the year ended December 31, 2021. All amounts are presented net of tax and exclude portions attributable to noncontrolling interests. Foreign currency translation (loss) gains Net investment hedges of New Zealand subsidiary Cash flow hedges Employee benefit plans Total Rayonier, L.P. Allocation to Operating Partnership Total Rayonier Inc. Balance as of December 31, 2020 $22,702 $1,321 ($71,056) ($24,312) ($71,345) ($2,540) ($73,885) Other comprehensive income (loss) before reclassifications (18,487) — 44,899 (a) 11,302 37,714 (1,080) 36,634 Amounts reclassified from accumulated other comprehensive income (loss) — — 16,994 1,174 (b) 18,168 (521) 17,647 Net other comprehensive income (loss) (18,487) — 61,893 12,476 55,882 (1,601) 54,281 Balance as of December 31, 2021 $4,215 $1,321 ($9,163) ($11,836) ($15,463) ($4,141) ($19,604) Other comprehensive (loss) income before reclassifications (28,706) — 43,413 (a) — 14,707 (330) 14,377 Amounts reclassified from accumulated other comprehensive income — — 4,657 376 (b) 5,033 804 5,837 Net other comprehensive income (loss) (28,706) — 48,070 376 19,740 474 20,214 Balance as of June 30, 2022 ($24,491) $1,321 $38,907 ($11,460) $4,277 ($3,667) $610 (a) The six months ended June 30, 2022 and the year ended December 31, 2021 include $49.8 million and $52.5 million, respectively, of other comprehensive income related to interest rate products. See Note 7 — Derivative Financial Instruments and Hedging Activities for additional information. (b) This component of other comprehensive income (loss) is included in the computation of net periodic pension and post-retirement costs. See Note 16 — Employee Benefit Plans for additional information. The following table presents details of the amounts reclassified in their entirety from AOCI to net income for the six months ended June 30, 2022 and June 30, 2021: Details about accumulated other comprehensive income (loss) components Amount reclassified from accumulated other comprehensive income (loss) Affected line item in the income statement June 30, 2022 June 30, 2021 Realized loss on foreign currency exchange contracts $71 $1,725 Other operating (expense) income, net Realized loss on foreign currency option contracts — 827 Other operating (expense) income, net Noncontrolling interests (16) (587) Comprehensive income attributable to noncontrolling interests Realized loss on interest rate contracts 4,617 9,541 Interest expense Income tax effect from net loss on foreign currency contracts (15) (551) Income tax expense Net loss on cash flow hedges reclassified from accumulated other comprehensive income $4,657 $10,955

RESTRICTED CASH

RESTRICTED CASH	6 Months Ended
RESTRICTED CASH	Jun. 30, 2022
Restricted Cash and Investments [Abstract]
RESTRICTED CASH	RESTRICTED CASH Restricted cash, Timber Funds includes the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. Restricted cash, excluding Timber Funds includes cash deposited with a like-kind exchange (“LKE”) intermediary. In order to qualify for LKE treatment, the proceeds from real estate sales must be deposited with a third-party intermediary. These proceeds are accounted for as restricted cash until a suitable replacement property is acquired. In the event LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. Additionally, restricted cash, excluding Timber Funds, includes cash balances held in escrow as collateral for certain contractual obligations related to our Heartwood development project as well as cash held in escrow for real estate sales. The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the six months ended June 30, 2022 and 2021: Six Months Ended June 30, 2022 2021 Restricted cash, excluding Timber Funds: Restricted cash deposited with LKE intermediary $13,704 — Restricted cash held in escrow 625 702 Total restricted cash shown in the Consolidated Balance Sheets, excluding Timber Funds 14,329 702 Restricted cash shown in the Consolidated Balance Sheets, Timber Funds 1,464 — Cash and cash equivalents 280,280 314,308 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $296,073 $315,010

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	6 Months Ended
ASSETS HELD FOR SALE	Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALEAssets held for sale is composed of properties under contract and expected to be sold within 12 months that also meet the other relevant held-for-sale criteria in accordance with ASC 360-10-45-9. As of June 30, 2022 and December 31, 2021, the basis in properties meeting this classification was $2.2 million and $5.1 million, respectively. Since the basis in these properties was less than the fair value, including costs to sell, no impairment was recognized.

RELATED PARTY

RELATED PARTY	6 Months Ended
RELATED PARTY	Jun. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY	RELATED PARTY In January 2020, we entered into an agreement to sell developed lots to Mattamy Jacksonville LLC, a wholly owned subsidiary of Mattamy Homes, for an aggregate base purchase price of $4.45 million (subject to multiple takedowns over a 2 year period), plus additional consideration as to each lot to the extent the ultimate sales price of each finished home exceeds agreed price thresholds (the “Mattamy Contract”). In May 2021, we entered into an amendment to the original agreement for the sale of additional lots to Mattamy for an aggregate base purchase price of $1.0 million. The Mattamy contract also includes marketing fee revenue based on a percentage of the sales price of each finished home. In September 2020, Keith Bass, a member of our Board of Directors, was named the Chief Executive Officer of Mattamy Homes US. Following this development, the Mattamy Contract and the ongoing obligations therein, were reviewed by the Nominating and Corporate Governance Committee in accordance with established policies and procedures regarding the authorization and approval of transactions with related parties. The following table demonstrates the impact, gross of tax, of our related party transactions on the Consolidated Statements of Income and Comprehensive Income for the six months ended: Three Months Ended June 30, Six Months Ended June 30, Related Party Transaction Location on Statement of Income and Comprehensive Income 2022 2021 2022 2021 Mattamy Contract Sales (a) $339 1,446 $513 1,488 (a) The three and six months ended June 30, 2021 exclude approximately $0.1 million and $0.2 million, respectively, of cash received from Mattamy Jacksonville LLC under this agreement for the reimbursement of local impact fees.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
BASIS OF PRESENTATION (Policies)	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The unaudited consolidated financial statements and notes thereto of Rayonier Inc. and its subsidiaries and Rayonier, L.P. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The Rayonier Inc. and Rayonier, L.P. year-end balance sheet information was derived from audited financial statements not included herein. In the opinion of management, these financial statements and notes reflect any adjustments (all of which are normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. These statements and notes should be read in conjunction with the financial statements and supplementary data included in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC (the “2021 Form 10-K”).
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, Reference Rate Reform (Topic 848) , which provides optional guidance to ease the potential burden in accounting due to reference rate reform. ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. We have elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In August 2020, the FASB issued ASU 2020-06, Debt–Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging–Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. The pronouncement eliminates the requirement that contracts legally permitting settlement in registered shares be classified as temporary equity. As a result, Redeemable Operating Partnership Units may be classified as permanent partners’ capital in the Operating Partnership’s accompanying balance sheets and the related noncontrolling interest as permanent equity in the accompanying balance sheets of Rayonier, Inc. However, the corresponding SEC guidance on equity classification has remained unchanged. We will continue to monitor any developments in this area and may reclassify the temporary partners’ capital and noncontrolling interest to permanent upon agreement in guidance. Recent accounting pronouncements adopted or pending adoption not discussed above are either not applicable or are not expected to have a material impact on our consolidated financial condition, results of operations, or cash flows.
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSWe have evaluated events occurring from June 30, 2022 to the date of issuance of these Consolidated Financial Statements for potential recognition or disclosure in the consolidated financial statements. No events were identified that warranted recognition or disclosure.
SEGMENT REPORTING	Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. We evaluate financial performance based on segment operating income and Adjusted Earnings before Interest, Taxes, Depreciation, Depletion and Amortization (“Adjusted EBITDA”). Asset information is not reported by segment, as we do not produce asset information by segment internally. Operating income as presented in the Consolidated Statements of Income and Comprehensive Income is equal to segment income. Certain income (loss) items in the Consolidated Statements of Income and Comprehensive Income are not allocated to segments. These items, which include interest income (expense), miscellaneous income (expense) and income tax expense, are not considered by management to be part of segment operations and are included under “unallocated interest expense and other.”
REVENUE RECOGNITION	PERFORMANCE OBLIGATIONS We recognize revenue when control of promised goods or services (“performance obligations”) is transferred to customers, in an amount that reflects the consideration expected in exchange for those goods or services (“transaction price”). We generally satisfy performance obligations within a year of entering into a contract and therefore have applied the disclosure exemption found under ASC 606-10-50-14. Unsatisfied performance obligations as of June 30, 2022 are primarily due to advances on stumpage contracts, unearned license revenue and post-closing obligations on real estate sales. These performance obligations are expected to be satisfied within the next twelve months. We generally collect payment within a year of satisfying performance obligations and therefore have elected not to adjust revenues for a financing component. CONTRACT BALANCES The timing of revenue recognition, invoicing and cash collections results in accounts receivable and deferred revenue (contract liabilities) on the Consolidated Balance Sheets. Accounts receivable are recorded when we have an unconditional right to consideration for completed performance under the contract. Contract liabilities relate to payments received in advance of performance under the contract. Contract liabilities are recognized as revenue as (or when) we perform under the contract.
DERIVATIVE	Accounting for derivative financial instruments is governed by ASC Topic 815, Derivatives and Hedging
FAIR VALUE OF FINANCIAL INSTRUMENTS	We use the following methods and assumptions in estimating the fair value of our financial instruments: Cash and cash equivalents and Restricted cash — The carrying amount is equal to fair market value. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities. The variable rate debt adjusts with changes in the market rate, therefore the carrying value approximates fair value. Interest rate swap agreements — The fair value of interest rate contracts is determined by discounting the expected future cash flows, for each instrument, at prevailing interest rates. Foreign currency exchange contracts — The fair value of foreign currency exchange contracts is determined by a mark-to-market valuation, which estimates fair value by discounting the difference between the contracted forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate. Foreign currency option contracts — The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black-Scholes option pricing model. Noncontrolling interests in the operating partnership — The fair value of noncontrolling interests in the operating partnership is determined based on the period-end closing price of Rayonier Inc. common shares.

SEGMENT AND GEOGRAPHICAL INFO_2

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	6 Months Ended
SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following tables summarize the segment information for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, SALES 2022 2021 2022 2021 Southern Timber $66,271 $49,294 $143,035 $100,971 Pacific Northwest Timber 39,157 35,323 85,437 76,844 New Zealand Timber 78,882 80,559 130,271 138,138 Timber Funds (a) — 18,646 — 33,585 Real Estate (b) 34,402 74,531 68,597 85,035 Trading 27,683 34,546 41,145 51,212 Intersegment Eliminations (c) (49) (1,468) (98) (2,907) Total $246,346 $291,431 $468,387 $482,878 (a) The three and six months ended June 30, 2021 include $14.7 million and $26.7 million of sales attributable to noncontrolling interests in Timber Funds. (b) The three and six months ended June 30, 2021 includes $36.0 million from a Large Disposition. Large Dispositions are defined as transactions involving the sale of timberland that exceed $20 million in size and do not have a demonstrable premium relative to timberland value. (c) Primarily consists of the elimination of timberland investment management fees paid to us by the timber funds, which were initially recognized as sales and cost of sales within the Timber Funds segment, as well as log marketing fees paid to our Trading segment from our Southern Timber and Pacific Northwest Timber segments for marketing log export sales. Three Months Ended June 30, Six Months Ended June 30, OPERATING INCOME 2022 2021 2022 2021 Southern Timber $24,067 $16,980 $54,409 $34,327 Pacific Northwest Timber 2,943 1,872 9,550 3,222 New Zealand Timber 7,981 20,714 13,373 34,658 Timber Funds (a) — 1,991 — 3,492 Real Estate (b) 11,023 50,511 21,204 52,199 Trading (444) 418 (93) 662 Corporate and Other (10,102) (8,042) (17,657) (15,631) Total Operating Income 35,468 84,444 80,786 112,929 Unallocated interest expense and other (8,877) (14,144) (17,682) (24,175) Total Income before Income Taxes $26,591 $70,300 $63,104 $88,754 (a) The three and six months ended June 30, 2021 include $1.6 million and $2.7 million, respectively, of operating income attributable to noncontrolling interests in Timber Funds. (b) The three and six months ended June 30, 2021 includes $30.3 million from a Large Disposition. Three Months Ended June 30, Six Months Ended June 30, DEPRECIATION, DEPLETION AND AMORTIZATION 2022 2021 2022 2021 Southern Timber $14,657 $13,576 $32,716 $27,935 Pacific Northwest Timber 11,316 12,031 26,232 28,316 New Zealand Timber 6,901 6,952 11,891 14,201 Timber Funds (a) — 6,121 — 11,621 Real Estate (b) 2,564 8,535 11,709 10,092 Corporate and Other 313 313 621 576 Total $35,751 $47,528 $83,169 $92,741 (a) The three and six months ended June 30, 2021 include $5.1 million and $10.1 million, respectively, of depreciation, depletion and amortization attributable to noncontrolling interests in Timber Funds. (b) The three and six months ended June 30, 2021 includes $4.8 million from a Large Dispositions. Three Months Ended June 30, Six Months Ended June 30, NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT 2022 2021 2022 2021 Real Estate (a) $11,780 $5,254 $17,139 $7,067 Total $11,780 $5,254 $17,139 $7,067 (a) The three and six months ended June 30, 2021 includes $0.1 million from a Large Disposition.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
REVENUE (Tables)	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Contract with Customer, Liabilities	The following table summarizes revenue recognized during the three and six months ended June 30, 2022 and 2021 that was included in the contract liability balance at the beginning of each year: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue recognized from contract liability balance at the beginning of the year (a) $4,968 $4,049 $12,501 $9,969 (a) Revenue recognized was primarily from hunting licenses and the use of advances on pay-as-cut timber sales.
Schedule of Disaggregation of Revenue by Product	The following tables present our revenue from contracts with customers disaggregated by product type for the three and six months ended June 30, 2022 and 2021: Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total June 30, 2022 Pulpwood $30,770 $3,572 $10,851 — — $2,999 — $48,192 Sawtimber 21,744 34,310 64,247 — — 24,319 — 144,620 Hardwood 5,706 — — — — — — 5,706 Total Timber Sales 58,220 37,882 75,098 — — 27,318 — 198,518 License Revenue, Primarily from Hunting 6,506 129 87 — — — — 6,722 Other Non-Timber/Carbon Revenue 1,545 1,146 3,697 — — — — 6,388 Agency Fee Income — — — — — 316 — 316 Total Non-Timber Sales 8,051 1,275 3,784 — — 316 — 13,426 Improved Development — — — — 11,566 — — 11,566 Rural — — — — 23,420 — — 23,420 Deferred Revenue/Other (a) — — — — (907) — — (907) Total Real Estate Sales — — — — 34,079 — — 34,079 Revenue from Contracts with Customers 66,271 39,157 78,882 — 34,079 27,634 — 246,023 Lease Revenue — — — — 323 — — 323 Intersegment — — — — — 49 (49) — Total Revenue $66,271 $39,157 $78,882 — $34,402 $27,683 ($49) $246,346 Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total June 30, 2021 Pulpwood $23,728 $2,078 $12,266 $395 — $3,676 — $42,143 Sawtimber 18,692 31,755 67,986 16,419 — 30,475 — 165,327 Hardwood 1,268 — — — — — — 1,268 Total Timber Sales 43,688 33,833 80,252 16,814 — 34,151 — 208,738 License Revenue, Primarily from Hunting 4,493 117 81 26 — — — 4,717 Other Non-Timber/Carbon Revenue 1,113 1,373 226 399 — — — 3,111 Agency Fee Income — — — — — 334 — 334 Total Non-Timber Sales 5,606 1,490 307 425 — 334 — 8,162 Improved Development — — — — 19,340 — — 19,340 Rural — — — — 20,297 — — 20,297 Conservation Easement — — — — 3,855 — — 3,855 Deferred Revenue/Other (a) — — — — (5,242) — — (5,242) Large Dispositions — — — — 36,000 — — 36,000 Total Real Estate Sales — — — — 74,250 — — 74,250 Revenue from Contracts with Customers 49,294 35,323 80,559 17,239 74,250 34,485 — 291,150 Lease Revenue — — — — 281 — — 281 Intersegment — — — 1,407 — 61 (1,468) — Total Revenue $49,294 $35,323 $80,559 $18,646 $74,531 $34,546 ($1,468) $291,431 Six Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total June 30, 2022 Pulpwood $68,381 $6,491 $18,446 — — $4,523 — $97,841 Sawtimber 49,260 76,524 106,347 — — 35,857 — 267,988 Hardwood 11,555 — — — — — — 11,555 Total Timber Sales 129,196 83,015 124,793 — — 40,380 — 377,384 License Revenue, Primarily From Hunting 11,182 245 148 — — — — 11,575 Other Non-Timber/Carbon Revenue 2,657 2,177 5,330 — — — — 10,164 Agency Fee Income — — — — — 667 — 667 Total Non-Timber Sales 13,839 2,422 5,478 — — 667 — 22,406 Improved Development — — — — 16,532 — — 16,532 Rural — — — — 40,369 — — 40,369 Timberland & Non-Strategic — — — — 11,400 — — 11,400 Deferred Revenue/Other (a) — — — — (271) — — (271) Total Real Estate Sales — — — — 68,030 — — 68,030 Revenue from Contracts with Customers 143,035 85,437 130,271 — 68,030 41,047 — 467,820 Lease Revenue — — — — 567 — — 567 Intersegment — — — — — 98 (98) — Total Revenue $143,035 $85,437 $130,271 — $68,597 $41,145 ($98) $468,387 Six Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total June 30, 2021 Pulpwood $45,584 $4,573 $21,809 $655 — $5,510 — $78,131 Sawtimber 40,655 69,513 115,777 29,727 — 44,865 — 300,537 Hardwood 1,673 — — — — — — 1,673 Total Timber Sales 87,912 74,086 137,586 30,382 — 50,375 — 380,341 License Revenue, Primarily from Hunting 8,913 207 139 29 — — — 9,288 Other Non-Timber/Carbon Revenue 4,146 2,551 413 413 — — — 7,523 Agency Fee Income — — — — — 691 — 691 Total Non-Timber Sales 13,059 2,758 552 442 — 691 — 17,502 Improved Development — — — — 19,592 — — 19,592 Rural — — — — 30,062 — — 30,062 Conservation Easement — — — — 3,855 — — 3,855 Deferred Revenue/Other (a) — — — — (4,987) — — (4,987) Large Dispositions — — — — 36,000 — — 36,000 Total Real Estate Sales — — — — 84,522 — — 84,522 Revenue from Contracts with Customers 100,971 76,844 138,138 30,824 84,522 51,066 — 482,365 Lease Revenue — — — — 513 — — 513 Intersegment — — — 2,761 — 146 (2,907) — Total Revenue $100,971 $76,844 $138,138 $33,585 $85,035 $51,212 ($2,907) $482,878 (a) Includes deferred revenue adjustments, revenue true-ups and marketing fees related to Improved Development sales. The following tables present our timber sales disaggregated by contract type for the three and six months ended June 30, 2022 and 2021: Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Trading Total June 30, 2022 Stumpage Pay-as-Cut $21,326 — — — — $21,326 Stumpage Lump Sum 90 85 — — — 175 Total Stumpage 21,416 85 — — — 21,501 Delivered Wood (Domestic) 33,248 33,956 18,051 — 1,104 86,359 Delivered Wood (Export) 3,556 3,841 57,047 — 26,214 90,658 Total Delivered 36,804 37,797 75,098 — 27,318 177,017 Total Timber Sales $58,220 $37,882 $75,098 — $27,318 $198,518 June 30, 2021 Stumpage Pay-as-Cut $15,183 — — $197 — $15,380 Stumpage Lump Sum 4,645 932 — — — 5,577 Total Stumpage 19,828 932 — 197 — 20,957 Delivered Wood (Domestic) 19,955 32,901 19,250 16,617 1,236 89,959 Delivered Wood (Export) 3,905 — 61,002 — 32,915 97,822 Total Delivered 23,860 32,901 80,252 16,617 34,151 187,781 Total Timber Sales $43,688 $33,833 $80,252 $16,814 $34,151 $208,738 Six Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Trading Total June 30, 2022 Stumpage Pay-as-Cut $57,532 — — — — $57,532 Stumpage Lump Sum 90 5,473 — — — 5,563 Total Stumpage 57,622 5,473 — — — 63,095 Delivered Wood (Domestic) 65,376 73,402 31,532 — 1,729 172,039 Delivered Wood (Export) 6,198 4,140 93,261 — 38,651 142,250 Total Delivered 71,574 77,542 124,793 — 40,380 314,289 Total Timber Sales $129,196 $83,015 $124,793 — $40,380 $377,384 June 30, 2021 Stumpage Pay-as-Cut $36,440 — — $197 — $36,637 Stumpage Lump Sum 4,647 7,063 — — — 11,710 Total Stumpage 41,087 7,063 — 197 — 48,347 Delivered Wood (Domestic) 38,014 67,023 36,356 30,185 2,327 173,905 Delivered Wood (Export) 8,811 — 101,230 — 48,048 158,089 Total Delivered 46,825 67,023 137,586 30,185 50,375 331,994 Total Timber Sales $87,912 $74,086 $137,586 $30,382 $50,375 $380,341

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	6 Months Ended
NONCONTROLLING INTERESTS (Tables)	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Noncontrolling Interest in the Operating Partnership and Subsidiaries	The following table sets forth the Company’s noncontrolling interests in the operating partnership: Three Months Ended June 30, Six Months Ended 2022 2021 2022 2021 Beginning noncontrolling interests in the operating partnership $136,239 $137,990 $133,823 $130,121 Adjustment of noncontrolling interests in the operating partnership (11,412) 15,410 (8,767) 27,277 Conversions of Redeemable Operating Partnership Units to Common Shares (42) (241) (146) (4,956) Net Income attributable to noncontrolling interests in the operating partnership 546 1,753 1,214 2,094 Other Comprehensive (Loss) Income attributable to noncontrolling interests in the operating partnership (575) (253) (474) 1,278 Distributions to noncontrolling interests in the operating partnership (945) (1,154) (1,839) (2,309) Total noncontrolling interests in the operating partnership $123,811 $153,505 $123,811 $153,505

EARNINGS PER SHARE AND PER UN_2

EARNINGS PER SHARE AND PER UNIT (Tables)	6 Months Ended
EARNINGS PER SHARE AND PER UNIT (Tables)	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table provides details of the calculations of basic and diluted earnings per common share of the Company: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Earnings per common share - basic Numerator: Net Income $25,287 $63,420 $56,286 $78,452 Less: Net income attributable to noncontrolling interests in the operating partnership (546) (1,753) (1,214) (2,094) Less: Net income attributable to noncontrolling interests in consolidated affiliates (637) (4,461) (1,650) (8,304) Net income attributable to Rayonier Inc. $24,104 $57,206 $53,422 $68,054 Denominator: Denominator for basic earnings per common share - weighted average shares 146,257,311 139,556,748 145,846,026 138,718,442 Basic earnings per common share attributable to Rayonier Inc.: $0.16 $0.41 $0.37 $0.49 Earnings per common share - diluted Numerator: Net Income $25,287 $63,420 $56,286 $78,452 Less: Net income attributable to noncontrolling interests in consolidated affiliates (637) (4,461) (1,650) (8,304) Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the operating partnership $24,650 $58,959 $54,636 $70,148 Denominator: Denominator for basic earnings per common share - weighted average shares 146,257,311 139,556,748 145,846,026 138,718,442 Add: Dilutive effect of: Stock options 8,100 12,646 7,664 8,348 Performance shares, restricted shares and restricted stock units 666,653 210,923 730,773 282,027 Noncontrolling interests in operating partnership units 3,312,315 4,275,912 3,313,543 4,303,201 Denominator for diluted earnings per common share - adjusted weighted average shares 150,244,379 144,056,229 149,898,006 143,312,018 Diluted earnings per common share attributable to Rayonier Inc.: $0.16 $0.41 $0.36 $0.49 The following table provides details of the calculations of basic and diluted earnings per unit of the Operating Partnership: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Earnings per unit - basic Numerator: Net Income $25,287 $63,420 $56,286 $78,452 Less: Net income attributable to noncontrolling interests in consolidated affiliates (637) (4,461) (1,650) (8,304) Net income available to unitholders $24,650 $58,959 $54,636 $70,148 Denominator: Denominator for basic earnings per unit - weighted average units 149,569,626 143,832,660 149,159,569 143,021,643 Basic earnings per unit attributable to Rayonier, L.P.: $0.16 $0.41 $0.37 $0.49 Earnings per unit - diluted Numerator: Net Income $25,287 $63,420 $56,286 $78,452 Less: Net income attributable to noncontrolling interests in consolidated affiliates (637) (4,461) (1,650) (8,304) Net income available to unitholders $24,650 $58,959 $54,636 $70,148 Denominator: Denominator for basic earnings per unit - weighted average units 149,569,626 143,832,660 149,159,569 143,021,643 Add: Dilutive effect of unit equivalents: Stock options 8,100 12,646 7,664 8,348 Performance shares, restricted shares and restricted stock units 666,653 210,923 730,773 282,027 Denominator for diluted earnings per unit - adjusted weighted average units 150,244,379 144,056,229 149,898,006 143,312,018 Diluted earnings per unit attributable to Rayonier, L.P.: $0.16 $0.41 $0.36 $0.49
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Anti-dilutive shares excluded from the computations of diluted earnings per common share: Stock options, performance shares, restricted shares and restricted stock units 109,515 208,614 54,884 201,435 Total 109,515 208,614 54,884 201,435 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit: Stock options, performance shares, restricted shares and restricted stock units 109,515 208,614 54,884 201,435 Total 109,515 208,614 54,884 201,435

DEBT (Tables)

DEBT (Tables)	6 Months Ended
DEBT (Tables)	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Our debt consisted of the following at June 30, 2022: June 30, 2022 Debt Term Credit Agreement borrowings due 2028 at a variable interest rate of 2.7% at June 30, 2022 (a) $350,000 Senior Notes due 2031 at a fixed interest rate of 2.75% 450,000 Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 2.7% at June 30, 2022 (b) 200,000 2021 Incremental Term Loan Facility Borrowings due 2029 at a variable interest rate of 2.6% at June 30, 2022 (c) 200,000 New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95% (d) 21,451 New Zealand subsidiary noncontrolling interests shareholder loan due 2026 at a fixed interest rate of 3.64% (d) 25,026 New Zealand subsidiary noncontrolling interests shareholder loan due 2027 at a fixed interest rate of 6.48% (d) 25,026 New Zealand Working Capital Facility due 2023 at a variable interest rate of 3.1% at June 30, 2022 622 Total principal debt 1,272,125 Less: Unamortized discounts (3,266) Less: Current maturities of long-term debt (622) Less: Deferred financing costs (4,843) Total long-term debt $1,263,394 (a) As of June 30, 2022, the periodic interest rate on the term credit agreement (the “Term Credit Agreement”) was LIBOR plus 1.600%. We estimate the effective fixed interest rate on the term loan facility to be approximately 3.0% after consideration of interest rate swaps and estimated patronage refunds. (b) As of June 30, 2022, the periodic interest rate on the incremental term loan (the “Incremental Term Loan Agreement”) was LIBOR plus 1.650%. We estimate the effective fixed interest rate on the incremental term loan facility to be approximately 2.4% after consideration of interest rate swaps and estimated patronage refunds. (c) As of June 30, 2022, the periodic interest rate on the 2021 incremental term loan (the “2021 Incremental Term Loan Facility”) was LIBOR plus 1.550%. We estimate the effective fixed interest rate on the incremental term loan facility to be approximately 1.5% after consideration of interest rate swaps and estimated patronage refunds. (d) Except for changes in the New Zealand foreign exchange rate, there have been no adjustments to the carrying value of the shareholder loans since inception.
Schedule of Maturities of Long-Term Debt	Principal payments due during the next five years and thereafter are as follows: Total 2022 — 2023 622 2024 — 2025 21,451 2026 225,026 Thereafter 1,025,026 Total Debt $1,272,125
Schedule of Debt Covenants	The covenants listed below, which are the most significant financial covenants in effect as of June 30, 2022, are calculated on a trailing 12-month basis: Covenant Requirement Actual Ratio Favorable Covenant EBITDA to consolidated interest expense should not be less than 2.5 to 1 13.6 to 1 11.1 Covenant debt to covenant net worth plus covenant debt shall not exceed 65 % 41 % 24 %

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The following table contains information on the outstanding interest rate swaps as of June 30, 2022: Outstanding Interest Rate Swaps (a) Date Entered Into Term Notional Amount Related Debt Facility Fixed Rate of Swap Bank Margin on Debt Total Effective Interest Rate (b) August 2015 9 years $170,000 Term Credit Agreement 2.20 % 1.60 % 3.80 % August 2015 9 years 180,000 Term Credit Agreement 2.35 % 1.60 % 3.95 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.65 % 3.25 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.65 % 3.25 % May 2021 (c) 7 years 200,000 2021 Incremental Term Loan Facility 0.77 % 1.55 % 2.32 % (a) All interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting. (b) Rate is before estimated patronage payments. (c) On February 1, 2022, our $200.0 million notional forward-starting interest rate swap matured into an active interest rate swap. See Note 6 - Debt The following table contains information on the outstanding forward-starting interest rate swaps as of June 30, 2022: Outstanding Forward-Starting Interest Rate Swaps (a) Date Entered Into Term Notional Amount Fixed Rate of Swap Related Debt Facility Forward Date Maximum Period Ending for Forecasted Issuance Date April 2020 4 years $100,000 0.88 % Term Credit Agreement August 2024 N/A May 2020 4 years 50,000 0.74 % Term Credit Agreement August 2024 N/A (a) All forward-starting interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following tables demonstrate the impact, gross of tax, of our derivatives on the Consolidated Statements of Income and Comprehensive Income for the three and six months ended June 30, 2022 and 2021: Three Months Ended Income Statement Location 2022 2021 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive (loss) income ($14,352) ($896) Foreign currency option contracts Other comprehensive (loss) income (686) (230) Interest rate products Other comprehensive (loss) income 14,636 (14,587) Interest expense 1,948 5,377 Six Months Ended Income Statement Location 2022 2021 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive (loss) income ($10,839) ($3,747) Foreign currency option contracts Other comprehensive (loss) income (550) (1,158) Interest rate products Other comprehensive (loss) income 49,765 45,144 Interest expense 4,618 9,371 Amount expected to be reclassified into earnings in next 12 months Derivatives designated as cash flow hedges: Foreign currency exchange contracts ($6,784) Foreign currency option contracts (51) Interest rate products 9,908 Total estimated gain on derivatives contracts $3,073
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets: Notional Amount June 30, 2022 December 31, 2021 Derivatives designated as cash flow hedges: Foreign currency exchange contracts $160,500 $149,250 Foreign currency option contracts 32,000 14,000 Interest rate swaps 750,000 550,000 Forward-starting interest rate swaps 150,000 350,000
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets at June 30, 2022 and December 31, 2021. Changes in balances of derivative financial instruments are recorded as operating activities in the Consolidated Statements of Cash Flows: Location on Balance Sheet Fair Value Assets / (Liabilities) (a) June 30, 2022 December 31, 2021 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other current assets — $721 Other assets — 86 Other current liabilities (9,424) (2,061) Other non-current liabilities (3,364) (694) Foreign currency option contracts Other current assets 7 — Other assets 446 228 Other current liabilities (78) — Other non-current liabilities (967) (270) Interest rate swaps Other assets 40,909 — Other non-current liabilities — (15,582) Forward-starting interest rate swaps Other assets 9,106 11,482 Total derivative contracts: Other current assets $7 $721 Other assets 50,461 11,796 Total derivative assets $50,468 $12,517 Other current liabilities (9,502) (2,061) Other non-current liabilities (4,331) (16,546) Total derivative liabilities ($13,833) ($18,607) (a) See Note 8 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Jun. 30, 2022
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, 2022 and December 31, 2021, using market information and what we believe to be appropriate valuation methodologies under GAAP: June 30, 2022 December 31, 2021 Asset (Liability) (a) Carrying Fair Value Carrying Fair Value Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents, excluding Timber Funds $279,331 $279,331 — $358,680 $358,680 — Cash and cash equivalents, Timber Funds 949 949 — 3,493 3,493 — Restricted cash, Timber Funds (b) 1,464 1,464 — 6,341 6,341 — Restricted cash, excluding Timber Funds (c) 14,329 14,329 — 625 625 — Current maturities of long-term debt (d) (622) — (622) (124,965) — (125,288) Long-term debt (d) (1,263,394) — (1,196,582) (1,242,819) — (1,245,148) Interest rate swaps (e) 40,909 — 40,909 (15,582) — (15,582) Forward-starting interest rate swaps (e) 9,106 — 9,106 11,482 — 11,482 Foreign currency exchange contracts (e) (12,788) — (12,788) (1,948) — (1,948) Foreign currency option contracts (e) (592) — (592) (42) — (42) Noncontrolling interests in the operating partnership (f) 123,811 123,811 — 133,823 133,823 — (a) We did not have Level 3 assets or liabilities at June 30, 2022 and December 31, 2021. (b) Restricted cash, Timber Funds represents the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. See Note 19 — Restricted Cash for additional information. (c) Restricted cash, excluding Timber Funds represents proceeds from like-kind exchange sales deposited with a third-party intermediary and cash held in escrow. See Note 19 — Restricted Cash for additional information. (d) The carrying amount of long-term debt is presented net of deferred financing costs and unamortized discounts on non-revolving debt. See Note 6 — Debt for additional information. (e) See Note 7 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets 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. See Note 4 — Noncontrolling Interests for additional information.

COMMITMENTS (Tables)

COMMITMENTS (Tables)	6 Months Ended
COMMITMENTS (Tables)	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Commitments	At June 30, 2022, the future minimum payments under non-cancellable commitments were as follows: Environmental Remediation (a) Development Projects (b) Commitments (c) Total Remaining 2022 $726 $19,676 $8,480 $28,882 2023 3,874 3,239 12,024 19,137 2024 3,839 267 4,433 8,539 2025 1,010 267 1,192 2,469 2026 451 267 360 1,078 Thereafter 1,358 4,062 — 5,420 $11,258 $27,778 $26,489 $65,525 (a) Environmental remediation represents our estimate of potential liability associated with environmental contamination and Natural Resource Damages (NRD) in Port Gamble, Washington. See Note 11 - Environmental and Natural Resource Damage Liabilities for additional information. (b) Primarily consisting of payments expected to be made on our Wildlight and Heartwood development projects.

ENVIRONMENTAL AND NATURAL RES_2

ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Environmental Remediation Obligations [Abstract]
Schedule of Environmental Loss Contingencies by Site	Changes in environmental and NRD liabilities from December 31, 2021 to June 30, 2022 are shown below: Port Gamble, WA Non-current portion at December 31, 2021 $10,110 Plus: Current portion 695 Total Balance at December 31, 2021 10,805 Expenditures charged to liabilities (245) Increase to liabilities 698 Total Balance at June 30, 2022 11,258 Less: Current portion (766) Non-current portion at June 30, 2022 $10,492

GUARANTEES (Tables)

GUARANTEES (Tables)	6 Months Ended
GUARANTEES (Tables)	Jun. 30, 2022
Guarantees [Abstract]
Schedule of Guarantor Obligations	As of June 30, 2022, the following financial guarantees were outstanding: Financial Commitments (a) Maximum Potential Standby letters of credit $885 Surety bonds (b) 23,194 Total financial commitments $24,079 (a) We have not recorded any liabilities for these financial commitments in our Consolidated Balance Sheets. The guarantees are not subject to measurement, as the guarantees are dependent on our own performance. (b) Surety bonds are issued primarily to secure performance obligations related to various operational activities, to provide collateral for our Wildlight development project in Nassau County, Florida and in connection with pending and completed sales from the Harbor Hill project in Gig Harbor, Washington. These surety bonds expire at various dates during 2022, 2023, 2024 and 2025 and are expected to be renewed as required.

HIGHER AND BETTER USE TIMBERL_2

HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Schedule of Higher and Better Use Timberlands and Real Estate Development Investments	Changes in higher and better use timberlands and real estate development investments from December 31, 2021 to June 30, 2022 are shown below: Higher and Better Use Timberlands and Real Estate Development Investments Land and Timber Development Investments Total Non-current portion at December 31, 2021 $87,910 $18,968 $106,878 Plus: Current portion (a) 718 24,022 24,740 Total Balance at December 31, 2021 88,628 42,990 131,618 Non-cash cost of land and improved development (579) (9,617) (10,196) Amortization of parcel real estate development investments — (3,212) (3,212) Timber depletion from harvesting activities and basis of timber sold in real estate sales (633) — (633) Capitalized real estate development investments (b) — 8,957 8,957 Capital expenditures (silviculture) 116 — 116 Intersegment transfers 4,345 — 4,345 Total Balance at June 30, 2022 91,877 39,118 130,995 Less: Current portion (a) (1,058) (17,440) (18,498) Non-current portion at June 30, 2022 $90,819 $21,678 $112,497 (a) The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 14 — Inventory for additional information. (b) Capitalized real estate development investments include $0.4 million of capitalized interest and $2.9 million of parcel real estate development investments. Parcel real estate development investments represent investments made for specific lots and/or commercial parcels that are currently under contract or expected to be ready for market within a year.

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
INVENTORY (Tables)	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	As of June 30, 2022 and December 31, 2021, our inventory consisted entirely of finished goods, as follows: June 30, 2022 December 31, 2021 Finished goods inventory Real estate inventory (a) $18,498 $24,740 Log inventory 6,832 3,783 Total inventory $25,330 $28,523 (a) Represents the cost of HBU real estate (including capitalized development investments) under contract to be sold as well as the cost of HBU real estate deferred until post-closing obligations are satisfied. See Note 13 — Higher And Better Use Timberlands and Real Estate Development Investments for additional information.

OTHER OPERATING (EXPENSE) INC_2

OTHER OPERATING (EXPENSE) INCOME, NET (Tables)	6 Months Ended
OTHER OPERATING (EXPENSE) INCOME, NET (Tables)	Jun. 30, 2022
Other Income and Expenses [Abstract]
Schedule of Other Operating (Expense) Income, Net	Other operating income (expense), net consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Gain on foreign currency remeasurement, net of cash flow hedges $1,249 $1,922 $677 $4,351 Gain on sale or disposal of property and equipment 6 3 31 93 Log trading marketing fees — — — 6 Equity (loss) income related to Bainbridge Landing LLC joint venture (145) 186 (370) 206 Miscellaneous expense, net (309) (155) (520) (252) Total $801 $1,956 ($182) $4,404

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
EMPLOYEE BENEFIT PLANS (Tables)	Jun. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Benefit Costs	The net pension and postretirement benefit (credits) costs that have been recorded are shown in the following table: Components of Net Periodic Benefit (Credit) Cost Income Statement Location Pension Postretirement Three Months Ended Three Months Ended 2022 2021 2022 2021 Service cost Selling and general expenses — — $2 $2 Interest cost Interest and other miscellaneous income (expense), net 609 557 13 11 Expected return on plan assets (a) Interest and other miscellaneous income (expense), net (872) (936) — — Amortization of losses Interest and other miscellaneous income (expense), net 184 288 4 5 Net periodic benefit (credit) cost ($79) ($91) $19 $18 Components of Net Periodic Benefit (Credit) Cost Income Statement Location Pension Postretirement Six Months Ended Six Months Ended 2022 2021 2022 2021 Service cost Selling and general expenses — — $3 $4 Interest cost Interest and other miscellaneous income (expense), net 1,217 1,114 26 23 Expected return on plan assets (a) Interest and other miscellaneous income (expense), net (1,743) (1,873) — — Amortization of losses Interest and other miscellaneous income (expense), net 369 577 7 10 Net periodic benefit (credit) cost ($157) ($182) $36 $37 (a) The weighted-average expected long-term rate of return on plan assets used in computing 2022 net periodic benefit cost for pension benefit s i s 5.0%.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
INCOME TAXES (Tables)	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The following table contains the income tax expense recognized on the Consolidated Statements of Income and Comprehensive Income: Three Months Ended Six Months Ended 2022 2021 2022 2021 Income tax expense ($1,304) ($6,880) ($6,818) ($10,302)
Schedule of Effective Income Tax Rate Reconciliation	The following table contains the Company’s annualized effective tax rate after discrete items: Six Months Ended 2022 2021 Annualized effective tax rate after discrete items 9.2 % 11.0 %

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	Jun. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in AOCI by component for the six months ended June 30, 2022 and the year ended December 31, 2021. All amounts are presented net of tax and exclude portions attributable to noncontrolling interests. Foreign currency translation (loss) gains Net investment hedges of New Zealand subsidiary Cash flow hedges Employee benefit plans Total Rayonier, L.P. Allocation to Operating Partnership Total Rayonier Inc. Balance as of December 31, 2020 $22,702 $1,321 ($71,056) ($24,312) ($71,345) ($2,540) ($73,885) Other comprehensive income (loss) before reclassifications (18,487) — 44,899 (a) 11,302 37,714 (1,080) 36,634 Amounts reclassified from accumulated other comprehensive income (loss) — — 16,994 1,174 (b) 18,168 (521) 17,647 Net other comprehensive income (loss) (18,487) — 61,893 12,476 55,882 (1,601) 54,281 Balance as of December 31, 2021 $4,215 $1,321 ($9,163) ($11,836) ($15,463) ($4,141) ($19,604) Other comprehensive (loss) income before reclassifications (28,706) — 43,413 (a) — 14,707 (330) 14,377 Amounts reclassified from accumulated other comprehensive income — — 4,657 376 (b) 5,033 804 5,837 Net other comprehensive income (loss) (28,706) — 48,070 376 19,740 474 20,214 Balance as of June 30, 2022 ($24,491) $1,321 $38,907 ($11,460) $4,277 ($3,667) $610 (a) The six months ended June 30, 2022 and the year ended December 31, 2021 include $49.8 million and $52.5 million, respectively, of other comprehensive income related to interest rate products. See Note 7 — Derivative Financial Instruments and Hedging Activities for additional information. (b) This component of other comprehensive income (loss) is included in the computation of net periodic pension and post-retirement costs. See Note 16 — Employee Benefit Plans
Reclassification out of Accumulated Other Comprehensive Income	The following table presents details of the amounts reclassified in their entirety from AOCI to net income for the six months ended June 30, 2022 and June 30, 2021: Details about accumulated other comprehensive income (loss) components Amount reclassified from accumulated other comprehensive income (loss) Affected line item in the income statement June 30, 2022 June 30, 2021 Realized loss on foreign currency exchange contracts $71 $1,725 Other operating (expense) income, net Realized loss on foreign currency option contracts — 827 Other operating (expense) income, net Noncontrolling interests (16) (587) Comprehensive income attributable to noncontrolling interests Realized loss on interest rate contracts 4,617 9,541 Interest expense Income tax effect from net loss on foreign currency contracts (15) (551) Income tax expense Net loss on cash flow hedges reclassified from accumulated other comprehensive income $4,657 $10,955

RESTRICTED CASH (Tables)

RESTRICTED CASH (Tables)	6 Months Ended
RESTRICTED CASH (Tables)	Jun. 30, 2022
Restricted Cash and Investments [Abstract]
Schedule of Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the six months ended June 30, 2022 and 2021: Six Months Ended June 30, 2022 2021 Restricted cash, excluding Timber Funds: Restricted cash deposited with LKE intermediary $13,704 — Restricted cash held in escrow 625 702 Total restricted cash shown in the Consolidated Balance Sheets, excluding Timber Funds 14,329 702 Restricted cash shown in the Consolidated Balance Sheets, Timber Funds 1,464 — Cash and cash equivalents 280,280 314,308 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $296,073 $315,010

RELATED PARTY (Tables)

RELATED PARTY (Tables)	6 Months Ended
RELATED PARTY (Tables)	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions on Consolidated Statements of Income and Comprehensive Income	The following table demonstrates the impact, gross of tax, of our related party transactions on the Consolidated Statements of Income and Comprehensive Income for the six months ended: Three Months Ended June 30, Six Months Ended June 30, Related Party Transaction Location on Statement of Income and Comprehensive Income 2022 2021 2022 2021 Mattamy Contract Sales (a) $339 1,446 $513 1,488 (a) The three and six months ended June 30, 2021 exclude approximately $0.1 million and $0.2 million, respectively, of cash received from Mattamy Jacksonville LLC under this agreement for the reimbursement of local impact fees.

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - Operating Partnership	Jun. 30, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership interest (as a percent)	97.80%
Ownership interest owned by limited partners (as a percent)	2.20%

SEGMENT AND GEOGRAPHICAL INFO_3

SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Segment Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
SALES	$ 246,346	$ 291,431	$ 468,387	$ 482,878
Timber Funds, Portion Attributable To Noncontrolling Interests
Segment Reporting Information [Line Items]
SALES		(14,700)		(26,700)
Intersegment Eliminations
Segment Reporting Information [Line Items]
SALES	(49)	(1,468)	(98)	(2,907)
Operating Segments \| Southern Timber
Segment Reporting Information [Line Items]
SALES	66,271	49,294	143,035	100,971
Operating Segments \| Pacific Northwest Timber
Segment Reporting Information [Line Items]
SALES	39,157	35,323	85,437	76,844
Operating Segments \| New Zealand Timber
Segment Reporting Information [Line Items]
SALES	78,882	80,559	130,271	138,138
Operating Segments \| Timber Funds
Segment Reporting Information [Line Items]
SALES	0	18,646	0	33,585
Operating Segments \| Real Estate
Segment Reporting Information [Line Items]
SALES	34,402	74,531	68,597	85,035
Operating Segments \| Real Estate \| Large Dispositions
Segment Reporting Information [Line Items]
SALES		36,000		36,000
Threshold to be considered a Large Disposition		20,000		20,000
Operating Segments \| Trading
Segment Reporting Information [Line Items]
SALES	27,683	34,546	41,145	51,212
Intersegment Eliminations \| Timber Funds
Segment Reporting Information [Line Items]
SALES	0	1,407	0	2,761
Intersegment Eliminations \| Trading
Segment Reporting Information [Line Items]
SALES	49	61	98	146
Intersegment Eliminations \| Intersegment Eliminations
Segment Reporting Information [Line Items]
SALES	$ (49)	$ (1,468)	$ (98)	$ (2,907)

SEGMENT AND GEOGRAPHICAL INFO_4

SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Total Operating Income	$ 35,468	$ 84,444	$ 80,786	$ 112,929
Unallocated interest expense and other	(8,877)	(14,144)	(17,682)	(24,175)
Total Income before Income Taxes	26,591	70,300	63,104	88,754
Timber Funds, Portion Attributable To Noncontrolling Interests
Segment Reporting Information [Line Items]
Total Operating Income		(1,600)		(2,700)
Real Estate \| Large Dispositions
Segment Reporting Information [Line Items]
Total Operating Income		30,300		30,300
Operating Segments \| Southern Timber
Segment Reporting Information [Line Items]
Total Operating Income	24,067	16,980	54,409	34,327
Operating Segments \| Pacific Northwest Timber
Segment Reporting Information [Line Items]
Total Operating Income	2,943	1,872	9,550	3,222
Operating Segments \| New Zealand Timber
Segment Reporting Information [Line Items]
Total Operating Income	7,981	20,714	13,373	34,658
Operating Segments \| Timber Funds
Segment Reporting Information [Line Items]
Total Operating Income	0	1,991	0	3,492
Operating Segments \| Real Estate
Segment Reporting Information [Line Items]
Total Operating Income	11,023	50,511	21,204	52,199
Operating Segments \| Trading
Segment Reporting Information [Line Items]
Total Operating Income	(444)	418	(93)	662
Corporate and Other
Segment Reporting Information [Line Items]
Total Operating Income	$ (10,102)	$ (8,042)	$ (17,657)	$ (15,631)

SEGMENT AND GEOGRAPHICAL INFO_5

SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Depreciation, Depletion and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	$ 35,751	$ 47,528	$ 83,169	$ 92,741
Operating Segments \| Southern Timber
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	14,657	13,576	32,716	27,935
Operating Segments \| Pacific Northwest Timber
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	11,316	12,031	26,232	28,316
Operating Segments \| New Zealand Timber
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	6,901	6,952	11,891	14,201
Operating Segments \| Timber Funds
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	0	6,121	0	11,621
Operating Segments \| Timber Funds, Portion Attributable To Noncontrolling Interests
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION		5,100		10,100
Operating Segments \| Real Estate
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	2,564	8,535	11,709	10,092
Operating Segments \| Real Estate \| Large Dispositions
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION		4,800		4,800
Corporate and Other
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	$ 313	$ 313	$ 621	$ 576

SEGMENT AND GEOGRAPHICAL INFO_6

SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Non-Cash Cost of Land and Improved Development (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	$ 11,780	$ 5,254	$ 17,139	$ 7,067
Real Estate
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	$ 11,780	5,254	$ 17,139	7,067
Real Estate \| Large Dispositions
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT		$ 100		$ 100

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	Jun. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected to satisfaction, period	12 months

REVENUE - Contract Liability (D

REVENUE - Contract Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized from contract liability balance at the beginning of the year	$ 4,968	$ 4,049	$ 12,501	$ 9,969

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	$ 246,023	$ 291,150	$ 467,820	$ 482,365
Lease Revenue	323	281	567	513
Total Revenue	246,346	291,431	468,387	482,878
Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	48,192	42,143	97,841	78,131
Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	144,620	165,327	267,988	300,537
Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	5,706	1,268	11,555	1,673
Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	198,518	208,738	377,384	380,341
License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,722	4,717	11,575	9,288
Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,388	3,111	10,164	7,523
Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	316	334	667	691
Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	13,426	8,162	22,406	17,502
Improved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	11,566	19,340	16,532	19,592
Rural
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	23,420	20,297	40,369	30,062
Timberland & Non-Strategic
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers			11,400
Conservation Easement
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers		3,855		3,855
Deferred Revenue/Other
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	(907)	(5,242)	(271)	(4,987)
Large Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers		36,000		36,000
Total Real Estate Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	34,079	74,250	68,030	84,522
Elim.
Disaggregation of Revenue [Line Items]
Total Revenue	(49)	(1,468)	(98)	(2,907)
Operating Segments \| Southern Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	66,271	49,294	143,035	100,971
Total Revenue	66,271	49,294	143,035	100,971
Operating Segments \| Southern Timber \| Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	30,770	23,728	68,381	45,584
Operating Segments \| Southern Timber \| Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	21,744	18,692	49,260	40,655
Operating Segments \| Southern Timber \| Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	5,706	1,268	11,555	1,673
Operating Segments \| Southern Timber \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	58,220	43,688	129,196	87,912
Operating Segments \| Southern Timber \| License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,506	4,493	11,182	8,913
Operating Segments \| Southern Timber \| Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	1,545	1,113	2,657	4,146
Operating Segments \| Southern Timber \| Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| Southern Timber \| Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	8,051	5,606	13,839	13,059
Operating Segments \| Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	39,157	35,323	85,437	76,844
Total Revenue	39,157	35,323	85,437	76,844
Operating Segments \| Pacific Northwest Timber \| Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	3,572	2,078	6,491	4,573
Operating Segments \| Pacific Northwest Timber \| Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	34,310	31,755	76,524	69,513
Operating Segments \| Pacific Northwest Timber \| Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| Pacific Northwest Timber \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	37,882	33,833	83,015	74,086
Operating Segments \| Pacific Northwest Timber \| License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	129	117	245	207
Operating Segments \| Pacific Northwest Timber \| Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	1,146	1,373	2,177	2,551
Operating Segments \| Pacific Northwest Timber \| Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| Pacific Northwest Timber \| Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	1,275	1,490	2,422	2,758
Operating Segments \| New Zealand Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	78,882	80,559	130,271	138,138
Total Revenue	78,882	80,559	130,271	138,138
Operating Segments \| New Zealand Timber \| Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	10,851	12,266	18,446	21,809
Operating Segments \| New Zealand Timber \| Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	64,247	67,986	106,347	115,777
Operating Segments \| New Zealand Timber \| Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| New Zealand Timber \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	75,098	80,252	124,793	137,586
Operating Segments \| New Zealand Timber \| License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	87	81	148	139
Operating Segments \| New Zealand Timber \| Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	3,697	226	5,330	413
Operating Segments \| New Zealand Timber \| Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| New Zealand Timber \| Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	3,784	307	5,478	552
Operating Segments \| Timber Funds
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	17,239	0	30,824
Total Revenue	0	18,646	0	33,585
Operating Segments \| Timber Funds \| Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	395	0	655
Operating Segments \| Timber Funds \| Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	16,419	0	29,727
Operating Segments \| Timber Funds \| Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| Timber Funds \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	16,814	0	30,382
Operating Segments \| Timber Funds \| License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	26	0	29
Operating Segments \| Timber Funds \| Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	399	0	413
Operating Segments \| Timber Funds \| Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| Timber Funds \| Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	425	0	442
Operating Segments \| Real Estate
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	34,079	74,250	68,030	84,522
Lease Revenue	323	281	567	513
Total Revenue	34,402	74,531	68,597	85,035
Operating Segments \| Real Estate \| Improved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	11,566	19,340	16,532	19,592
Operating Segments \| Real Estate \| Rural
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	23,420	20,297	40,369	30,062
Operating Segments \| Real Estate \| Timberland & Non-Strategic
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers			11,400
Operating Segments \| Real Estate \| Conservation Easement
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers		3,855		3,855
Operating Segments \| Real Estate \| Deferred Revenue/Other
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	(907)	(5,242)	(271)	(4,987)
Operating Segments \| Real Estate \| Large Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers		36,000		36,000
Total Revenue		36,000		36,000
Operating Segments \| Real Estate \| Total Real Estate Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	34,079	74,250	68,030	84,522
Operating Segments \| Trading
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	27,634	34,485	41,047	51,066
Total Revenue	27,683	34,546	41,145	51,212
Operating Segments \| Trading \| Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	2,999	3,676	4,523	5,510
Operating Segments \| Trading \| Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	24,319	30,475	35,857	44,865
Operating Segments \| Trading \| Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| Trading \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	27,318	34,151	40,380	50,375
Operating Segments \| Trading \| License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| Trading \| Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments \| Trading \| Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	316	334	667	691
Operating Segments \| Trading \| Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	316	334	667	691
Intersegment \| Timber Funds
Disaggregation of Revenue [Line Items]
Total Revenue	0	1,407	0	2,761
Intersegment \| Trading
Disaggregation of Revenue [Line Items]
Total Revenue	49	61	98	146
Intersegment \| Elim.
Disaggregation of Revenue [Line Items]
Total Revenue	$ (49)	$ (1,468)	$ (98)	$ (2,907)

REVENUE - Disaggregation of R_2

REVENUE - Disaggregation of Revenue by Contract Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	$ 246,023	$ 291,150	$ 467,820	$ 482,365
Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	21,326	15,380	57,532	36,637
Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	175	5,577	5,563	11,710
Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	21,501	20,957	63,095	48,347
Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	177,017	187,781	314,289	331,994
Total Delivered \| Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	86,359	89,959	172,039	173,905
Total Delivered \| Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	90,658	97,822	142,250	158,089
Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	198,518	208,738	377,384	380,341
Southern Timber \| Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	21,326	15,183	57,532	36,440
Southern Timber \| Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	90	4,645	90	4,647
Southern Timber \| Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	21,416	19,828	57,622	41,087
Southern Timber \| Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	36,804	23,860	71,574	46,825
Southern Timber \| Total Delivered \| Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	33,248	19,955	65,376	38,014
Southern Timber \| Total Delivered \| Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	3,556	3,905	6,198	8,811
Pacific Northwest Timber \| Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Pacific Northwest Timber \| Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	85	932	5,473	7,063
Pacific Northwest Timber \| Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	85	932	5,473	7,063
Pacific Northwest Timber \| Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	37,797	32,901	77,542	67,023
Pacific Northwest Timber \| Total Delivered \| Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	33,956	32,901	73,402	67,023
Pacific Northwest Timber \| Total Delivered \| Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	3,841	0	4,140	0
New Zealand Timber \| Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
New Zealand Timber \| Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
New Zealand Timber \| Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
New Zealand Timber \| Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	75,098	80,252	124,793	137,586
New Zealand Timber \| Total Delivered \| Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	18,051	19,250	31,532	36,356
New Zealand Timber \| Total Delivered \| Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	57,047	61,002	93,261	101,230
Timber Funds \| Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	197	0	197
Timber Funds \| Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Timber Funds \| Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	197	0	197
Timber Funds \| Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	16,617	0	30,185
Timber Funds \| Total Delivered \| Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	16,617	0	30,185
Timber Funds \| Total Delivered \| Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Trading \| Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Trading \| Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Trading \| Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Trading \| Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	27,318	34,151	40,380	50,375
Trading \| Total Delivered \| Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	1,104	1,236	1,729	2,327
Trading \| Total Delivered \| Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	26,214	32,915	38,651	48,048
Operating Segments \| Southern Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	66,271	49,294	143,035	100,971
Operating Segments \| Southern Timber \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	58,220	43,688	129,196	87,912
Operating Segments \| Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	39,157	35,323	85,437	76,844
Operating Segments \| Pacific Northwest Timber \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	37,882	33,833	83,015	74,086
Operating Segments \| New Zealand Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	78,882	80,559	130,271	138,138
Operating Segments \| New Zealand Timber \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	75,098	80,252	124,793	137,586
Operating Segments \| Timber Funds
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	17,239	0	30,824
Operating Segments \| Timber Funds \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	16,814	0	30,382
Operating Segments \| Trading
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	27,634	34,485	41,047	51,066
Operating Segments \| Trading \| Total Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	$ 27,318	$ 34,151	$ 40,380	$ 50,375

NONCONTROLLING INTERESTS - Narr

NONCONTROLLING INTERESTS - Narrative (Details) - Matariki Forestry Group a in Thousands	Jun. 30, 2022 a
Schedule of Equity Method Investments [Line Items]
Acres of timberland owned	418
Rayonier
Schedule of Equity Method Investments [Line Items]
Ownership percentage by parent (as a percent)	77%
Rayonier New Zealand Subsidiary
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest ownership percentage by noncontrolling owners (as a percent)	23%

NONCONTROLLING INTERESTS - Sche

NONCONTROLLING INTERESTS - Schedule of Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning noncontrolling interests in the operating partnership	$ 136,239	$ 137,990	$ 133,823	$ 130,121
Adjustment of noncontrolling interests in the operating partnership	(11,412)	15,410	(8,767)	27,277
Conversions of Redeemable Operating Partnership Units to Common Shares	(42)	(241)	(146)	(4,956)
Net Income attributable to noncontrolling interests in the operating partnership	546	1,753	1,214	2,094
Other Comprehensive (Loss) Income attributable to noncontrolling interests in the operating partnership	(575)	(253)	(474)	1,278
Distributions to noncontrolling interests in the operating partnership	(945)	(1,154)	(1,839)	(2,309)
Total noncontrolling interests in the operating partnership	$ 123,811	$ 153,505	$ 123,811	$ 153,505

EARNINGS PER SHARE AND PER UN_3

EARNINGS PER SHARE AND PER UNIT - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net Income	$ 25,287		$ 63,420		$ 56,286	$ 78,452
Less: Net income attributable to noncontrolling interests in the operating partnership	(546)	$ (669)	(1,753)	$ (341)	(1,214)	(2,094)
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(637)		(4,461)		(1,650)	(8,304)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	$ 24,104		$ 57,206		$ 53,422	$ 68,054
Denominator:
Denominator for basic earnings per common share - weighted average shares (in shares)	146,257,311		139,556,748		145,846,026	138,718,442
Basic earnings per common share attributable to Rayonier Inc (in dollars per share)	$ 0.16		$ 0.41		$ 0.37	$ 0.49
Numerator:
Net Income	$ 25,287		$ 63,420		$ 56,286	$ 78,452
Less: Net income attributable to noncontrolling interests in consolidated affiliates	637		4,461		1,650	8,304
Net income attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the operating partnership	$ 24,650		$ 58,959		$ 54,636	$ 70,148
Denominator:
Denominator for basic earnings per common share - weighted average shares (in shares)	146,257,311		139,556,748		145,846,026	138,718,442
Add: Dilutive effect of:
Stock options (in shares/units)	8,100		12,646		7,664	8,348
Performance shares, restricted shares and restricted stock units (in shares/units)	666,653		210,923		730,773	282,027
Noncontrolling interests in operating partnership units (in shares)	3,312,315		4,275,912		3,313,543	4,303,201
Denominator for diluted earnings per unit - adjusted weighted average units (in shares/units)	150,244,379		144,056,229		149,898,006	143,312,018
Diluted earnings per common share attributable to Rayonier Inc (in dollars per share)	$ 0.16		$ 0.41		$ 0.36	$ 0.49
Rayonier Limited Partnership
Numerator:
Net Income	$ 25,287	30,998	$ 63,420	15,032	$ 56,286	$ 78,452
Less: Net income attributable to noncontrolling interests in consolidated affiliates	(637)		(4,461)		(1,650)	(8,304)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	$ 24,650		$ 58,959		$ 54,636	$ 70,148
Denominator:
Denominator for basic earnings per unit - weighted average units (in units)	149,569,626		143,832,660		149,159,569	143,021,643
Basic earnings per unit attributable to Rayonier, L.P. (in dollars per unit)	$ 0.16		$ 0.41		$ 0.37	$ 0.49
Numerator:
Net Income	$ 25,287	$ 30,998	$ 63,420	$ 15,032	$ 56,286	$ 78,452
Less: Net income attributable to noncontrolling interests in consolidated affiliates	$ 637		$ 4,461		$ 1,650	$ 8,304
Denominator:
Denominator for basic earnings per unit - weighted average units (in units)	149,569,626		143,832,660		149,159,569	143,021,643
Add: Dilutive effect of:
Stock options (in shares/units)	8,100		12,646		7,664	8,348
Performance shares, restricted shares and restricted stock units (in shares/units)	666,653		210,923		730,773	282,027
Denominator for diluted earnings per unit - adjusted weighted average units (in shares/units)	150,244,379		144,056,229		149,898,006	143,312,018
Diluted earnings (loss) per unit attributable to Rayonier, L.P. (in dollars per unit)	$ 0.16		$ 0.41		$ 0.36	$ 0.49

EARNINGS PER SHARE AND PER UN_4

EARNINGS PER SHARE AND PER UNIT - Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit (in shares)	109,515	208,614	54,884	201,435
Rayonier Limited Partnership
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit (in shares)	109,515	208,614	54,884	201,435

DEBT - Schedule of Long Term De

DEBT - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Apr. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total principal debt	$ 1,272,125
Less: Unamortized discounts	(3,266)
Less: Current maturities of long-term debt	(622)		$ (124,965)
Less: Deferred financing costs	(4,843)
Total long-term debt	$ 1,263,394		$ 1,242,819
Term Credit Agreement borrowings due 2028 at a variable interest rate of 1.9% at June 30, 2022
Debt Instrument [Line Items]
Stated fixed interest rate (as a percent)	2.70%
Total principal debt	$ 350,000
Effective fixed interest rate (as a percent)	3%
Term Credit Agreement borrowings due 2028 at a variable interest rate of 1.9% at June 30, 2022 \| LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate (as a percent)	1.60%
Senior Notes due 2031 at a fixed interest rate of 2.75%
Debt Instrument [Line Items]
Stated fixed interest rate (as a percent)	2.75%
Total principal debt	$ 450,000
Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 1.9% at June 30, 2022
Debt Instrument [Line Items]
Stated fixed interest rate (as a percent)	2.70%
Total principal debt	$ 200,000
Effective fixed interest rate (as a percent)	2.40%
Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 1.9% at June 30, 2022 \| LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate (as a percent)	1.65%
2021 Incremental Term Loan Facility Borrowings due 2029 at a variable interest rate of 1.8% at June 30, 2022
Debt Instrument [Line Items]
Stated fixed interest rate (as a percent)	2.60%
Total principal debt	$ 200,000
Effective fixed interest rate (as a percent)	1.50%
2021 Incremental Term Loan Facility Borrowings due 2029 at a variable interest rate of 1.8% at June 30, 2022 \| LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate (as a percent)	1.55%
New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95% \| Matariki Forestry Group
Debt Instrument [Line Items]
Stated fixed interest rate (as a percent)	2.95%
Total principal debt	$ 21,451
New Zealand subsidiary noncontrolling interests shareholder loan due 2026 at a fixed interest rate of 3.64% \| Matariki Forestry Group
Debt Instrument [Line Items]
Stated fixed interest rate (as a percent)	3.64%
Total principal debt	$ 25,026
New Zealand subsidiary noncontrolling interests shareholder loan due 2027 at a fixed interest rate of 6.48% \| Matariki Forestry Group
Debt Instrument [Line Items]
Stated fixed interest rate (as a percent)	6.48%	6.48%
Total principal debt	$ 25,026
New Zealand Working Capital Facility due 2023 at a variable interest rate of 3.1% at June 30, 2022 \| Matariki Forestry Group
Debt Instrument [Line Items]
Stated fixed interest rate (as a percent)	3.10%
Total principal debt	$ 622

DEBT - Schedule of Long Term Ma

DEBT - Schedule of Long Term Maturities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
2022	$ 0
2023	622
2024	0
2025	21,451
2026	225,026
Thereafter	1,025,026
Total Debt	$ 1,272,125

DEBT - Narrative (Details)

DEBT - Narrative (Details) $ in Thousands, $ in Millions						1 Months Ended		6 Months Ended
DEBT - Narrative (Details) $ in Thousands, $ in Millions		Jun. 30, 2022 USD ($)	Feb. 01, 2022 USD ($)	Jan. 04, 2022 USD ($)	Jan. 03, 2022 USD ($)	Jun. 30, 2022 USD ($)	Apr. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 NZD ($)
Debt Instrument [Line Items]
Issuance of debt								$ 408,439	$ 446,378
Total principal debt		$ 1,272,125				$ 1,272,125		1,272,125
Repayments of debt								533,298	350,000
Noncontrolling interests in consolidated affiliates redemption of shares	[1]							27,860	$ 0
Interest rate swaps
Debt Instrument [Line Items]
Notional amount			$ 200,000
Senior Notes due at a fixed interest rate of 3.75%
Debt Instrument [Line Items]
Total principal debt				$ 325,000
Repayments of debt				125,000
2021 Incremental Term Loan Facility Borrowings due 2029 at a variable interest rate of 1.8% at June 30, 2022
Debt Instrument [Line Items]
Total principal debt		$ 200,000				$ 200,000		$ 200,000
Variable interest rate (as a percent)		1.50%				1.50%		1.50%		1.50%
Stated fixed interest rate (as a percent)		2.60%				2.60%		2.60%		2.60%
2021 Incremental Term Loan Facility Borrowings due 2029 at a variable interest rate of 1.8% at June 30, 2022 \| LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate (as a percent)								1.55%
Working Capital Facility
Debt Instrument [Line Items]
Debt instrument term						12 months
Remaining borrowing capacity										$ 19
Maximum borrowing capacity										$ 20
Borrowings, net of repayments								$ 600
New Zealand subsidiary noncontrolling interests shareholder loan due 2027 at a fixed interest rate of 6.48% \| Matariki Forestry Group
Debt Instrument [Line Items]
Total principal debt		$ 25,026				$ 25,026		$ 25,026
Noncontrolling interests in consolidated affiliates redemption of shares							$ 27,900
Stated fixed interest rate (as a percent)		6.48%				6.48%	6.48%	6.48%		6.48%
Revolving Credit Facility borrowings due 2025 at an average variable interest rate of 1.3% at June 30, 2022
Debt Instrument [Line Items]
Issuance of debt					$ 200,000
Repayments of debt				200,000
Remaining borrowing capacity		$ 299,100				$ 299,100		$ 299,100
Amount to secure outstanding letters of credit		900				900		900
Maximum borrowing capacity		300,000				300,000		300,000
2021 Incremental Term Loan Facility
Debt Instrument [Line Items]
Issuance of debt				$ 200,000
Debt instrument term			7 years
Maximum borrowing capacity		$ 200,000				200,000		200,000
2021 Incremental Term Loan Facility \| LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate (as a percent)		1.55%
Term Credit Agreement borrowings due 2028 at a variable interest rate of 1.9% at June 30, 2022
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 350,000				350,000		350,000
Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 1.9% at June 30, 2022
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 200,000				$ 200,000		$ 200,000

[1] In the second quarter of 2022, the New Zealand subsidiary made a capital distribution in order to redeem certain equity interests, resulting in the recording of a loan payable by the New Zealand subsidiary in the amount of $27.9 million. See Note 6 - De bt for further information.

DEBT - Debt Covenants (Details)

DEBT - Debt Covenants (Details)	Jun. 30, 2022
Debt Disclosure [Abstract]
Covenant EBITDA to consolidated interest expense, Covenant Requirement	2.5
Covenant EBITDA to consolidated interest expense, Actual ratio	13.6
Covenant EBITDA to consolidated interest expense, Favorable	11.1
Covenant debt to net worth plus covenant debt, Covenant Requirement (as a percent)	0.65
Covenant debt to net worth plus covenant debt, Actual ratio (as a percent)	0.41
Covenant debt to net worth plus covenant debt, favorable (as a percent)	0.24

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Derivatives designated as cash flow hedges
Derivative [Line Items]
Amount expected to be reclassified into earnings in next 12 months	$ 3,073
Forecasted Sales and Purchases, term 1 \| New Zealand JV
Derivative [Line Items]
Length of time, foreign currency cash flow hedge	12 months
Minimum \| Forecasted Sales and Purchases, term 1 \| New Zealand JV
Derivative [Line Items]
Percent of forecast sales and purchases hedged for 12 months (as a percent)	50%
Minimum \| Forecasted Sales and Purchases, term 2 \| New Zealand JV
Derivative [Line Items]
Length of time, foreign currency cash flow hedge	12 months
Minimum \| Forecasted Sales and Purchases, term 3 \| New Zealand JV
Derivative [Line Items]
Length of time, foreign currency cash flow hedge	18 months
Minimum \| Forecasted Sales and Purchases, term 4 \| New Zealand JV
Derivative [Line Items]
Length of time, foreign currency cash flow hedge	24 months
Maximum \| Forecasted Sales and Purchases, term 1 \| New Zealand JV
Derivative [Line Items]
Percent of forecast sales and purchases hedged for 12 months (as a percent)	90%
Maximum \| Forecasted Sales and Purchases, term 2 \| New Zealand JV
Derivative [Line Items]
Length of time, foreign currency cash flow hedge	18 months
Percent of forecast sales and purchases hedged for 12 to 18 months (as a percent)	75%
Maximum \| Forecasted Sales and Purchases, term 3 \| New Zealand JV
Derivative [Line Items]
Length of time, foreign currency cash flow hedge	24 months
Percent of forecast sales and purchases hedged for 18 to 24 months (as a percent)	50%
Maximum \| Forecasted Sales and Purchases, term 4 \| New Zealand JV
Derivative [Line Items]
Length of time, foreign currency cash flow hedge	48 months
Percent of forecast sales and purchases hedged for 24 to 48 months (as a percent)	50%

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding Derivative Products (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Feb. 01, 2022	Dec. 31, 2021
Interest rate swaps
Derivative [Line Items]
Notional Amount		$ 200,000
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest Rate Swap 1
Derivative [Line Items]
Term	9 years
Notional Amount	$ 170
Fixed Rate of Swap	2.20%
Bank Margin on Debt	1.60%
Total Effective Interest Rate (b)	3.80%
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest Rate Swap 2
Derivative [Line Items]
Term	9 years
Notional Amount	$ 180
Fixed Rate of Swap	2.35%
Bank Margin on Debt	1.60%
Total Effective Interest Rate (b)	3.95%
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest Rate Swap 3
Derivative [Line Items]
Term	10 years
Notional Amount	$ 100
Fixed Rate of Swap	1.60%
Bank Margin on Debt	1.65%
Total Effective Interest Rate (b)	3.25%
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest Rate Swap 4
Derivative [Line Items]
Term	10 years
Notional Amount	$ 100
Fixed Rate of Swap	1.60%
Bank Margin on Debt	1.65%
Total Effective Interest Rate (b)	3.25%
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest Rate Swap 5
Derivative [Line Items]
Term	7 years
Notional Amount	$ 200
Fixed Rate of Swap	0.77%
Bank Margin on Debt	1.55%
Total Effective Interest Rate (b)	2.32%
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest rate swaps
Derivative [Line Items]
Notional Amount	$ 750,000		$ 550,000
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Forward-Starting Interest Rate Swap 1
Derivative [Line Items]
Term	4 years
Notional Amount	$ 100,000
Fixed Rate of Swap	0.88%
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Forward-Starting Interest Rate Swap 2
Derivative [Line Items]
Term	4 years
Notional Amount	$ 50,000
Fixed Rate of Swap	0.74%

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Income Statement Location (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	$ 5,755	$ 40,427	$ (10,019)	$ 61,001
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency exchange contracts \| Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	(14,352)		(896)		$ (10,839)	$ (3,747)
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency option contracts \| Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	(686)		(230)		(550)	(1,158)
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest rate products \| Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	14,636		(14,587)		49,765	45,144
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest rate products \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	$ 1,948		$ 5,377		$ 4,618	$ 9,371

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Reclassified Amounts Into Earnings (Details) - Derivatives designated as cash flow hedges $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Amount expected to be reclassified into earnings in next 12 months	$ 3,073
Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount expected to be reclassified into earnings in next 12 months	(6,784)
Realized loss on foreign currency option contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount expected to be reclassified into earnings in next 12 months	(51)
Interest rate products
Derivative Instruments, Gain (Loss) [Line Items]
Amount expected to be reclassified into earnings in next 12 months	$ 9,908

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Notional Amounts (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Feb. 01, 2022	Dec. 31, 2021
Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount		$ 200,000
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	$ 160,500		$ 149,250
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency option contracts
Derivatives, Fair Value [Line Items]
Notional Amount	32,000		14,000
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	750,000		550,000
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Forward-starting interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	$ 150,000		$ 350,000

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Balance Sheet Location (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	$ 50,468	$ 12,517
Fair value, derivative liability	(13,833)	(18,607)
Other current assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	7	721
Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	50,461	11,796
Other current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(9,502)	(2,061)
Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(4,331)	(16,546)
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency exchange contracts \| Other current assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	0	721
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency exchange contracts \| Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	0	86
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency exchange contracts \| Other current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(9,424)	(2,061)
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency exchange contracts \| Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(3,364)	(694)
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency option contracts \| Other current assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	7	0
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency option contracts \| Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	446	228
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency option contracts \| Other current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(78)	0
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Foreign currency option contracts \| Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(967)	(270)
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest rate swaps \| Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	40,909	0
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Interest rate swaps \| Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	0	(15,582)
Derivatives designated as cash flow hedges \| Derivatives designated as cash flow hedges \| Forward-starting interest rate swaps \| Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	$ 9,106	$ 11,482

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less: Current maturities of long-term debt	$ (622)	$ (124,965)
Excluding Timber Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash, excluding Timber Funds	14,329	625	$ 702
Timber Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash, Timber Funds	1,464	6,341	$ 0
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less: Current maturities of long-term debt	(622)	(124,965)
Long-term debt	(1,263,394)	(1,242,819)
Noncontrolling interests in the operating partnership	123,811	133,823
Carrying Amount \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	40,909
Interest rate swaps, liabilities		(15,582)
Carrying Amount \| Forward-starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	9,106	11,482
Carrying Amount \| Foreign currency exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, liabilities	(12,788)	(1,948)
Carrying Amount \| Foreign currency option contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, liabilities	(592)	(42)
Carrying Amount \| Excluding Timber Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	279,331	358,680
Restricted cash, excluding Timber Funds	14,329	625
Carrying Amount \| Timber Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	949	3,493
Restricted cash, Timber Funds	1,464	6,341
Fair Value \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less: Current maturities of long-term debt	0	0
Long-term debt	0	0
Noncontrolling interests in the operating partnership	123,811	133,823
Fair Value \| Level 1 \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	0
Interest rate swaps, liabilities		0
Fair Value \| Level 1 \| Forward-starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	0	0
Fair Value \| Level 1 \| Foreign currency exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, liabilities	0	0
Fair Value \| Level 1 \| Foreign currency option contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, liabilities	0	0
Fair Value \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less: Current maturities of long-term debt	(622)	(125,288)
Long-term debt	(1,196,582)	(1,245,148)
Noncontrolling interests in the operating partnership	0	0
Fair Value \| Level 2 \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	40,909
Interest rate swaps, liabilities		(15,582)
Fair Value \| Level 2 \| Forward-starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	9,106	11,482
Fair Value \| Level 2 \| Foreign currency exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, liabilities	(12,788)	(1,948)
Fair Value \| Level 2 \| Foreign currency option contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, liabilities	(592)	(42)
Fair Value \| Excluding Timber Funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	279,331	358,680
Restricted cash, excluding Timber Funds	14,329	625
Fair Value \| Excluding Timber Funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash, excluding Timber Funds	0	0
Fair Value \| Timber Funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	949	3,493
Restricted cash, Timber Funds	1,464	6,341
Fair Value \| Timber Funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash, Timber Funds	$ 0	$ 0

COMMITMENTS (Details)

COMMITMENTS (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Commitments
Remaining 2022	$ 28,882
2023	19,137
2024	8,539
2025	2,469
2026	1,078
Thereafter	5,420
Total commitments	65,525
Environmental Remediation
Commitments
Remaining 2022	726
2023	3,874
2024	3,839
2025	1,010
2026	451
Thereafter	1,358
Total commitments	11,258
Development Projects
Commitments
Remaining 2022	19,676
2023	3,239
2024	267
2025	267
2026	267
Thereafter	4,062
Total commitments	27,778
Commitments
Commitments
Remaining 2022	8,480
2023	12,024
2024	4,433
2025	1,192
2026	360
Thereafter	0
Total commitments	$ 26,489

ENVIRONMENTAL AND NATURAL RES_3

ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES - Schedule of Liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning balance, non-current portion	$ 10,110
Beginning balance, plus: current portion	695
Beginning balance	10,805
Expenditures charged to liabilities	(245)
Increase to liabilities	698
Ending balance	11,258
Ending balance, less: current portion	(766)
Ending balance, non-current portion	$ 10,492

ENVIRONMENTAL AND NATURAL RES_4

ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES - Narrative (Details)	6 Months Ended
	Jun. 30, 2022
Minimum \| Millsite Cleanup and Natural Resource Damages Restoration
Property, Plant and Equipment [Line Items]
Natural resource damages restoration monitoring term (in years)	1 year
Minimum \| Port Gamble Location
Property, Plant and Equipment [Line Items]
Natural resource damages restoration monitoring term (in years)	10 years
Maximum \| Millsite Cleanup and Natural Resource Damages Restoration
Property, Plant and Equipment [Line Items]
Natural resource damages restoration monitoring term (in years)	2 years
Maximum \| Port Gamble Location
Property, Plant and Equipment [Line Items]
Natural resource damages restoration monitoring term (in years)	15 years

GUARANTEES (Details)

GUARANTEES (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Guarantor Obligations [Line Items]
Maximum Potential Payment	$ 24,079
Standby letters of credit
Guarantor Obligations [Line Items]
Maximum Potential Payment	885
Surety bonds
Guarantor Obligations [Line Items]
Maximum Potential Payment	$ 23,194

HIGHER AND BETTER USE TIMBERL_3

HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance	$ 106,878
Plus: Current portion, beginning balance	24,740
Total balance, beginning balance	131,618
Non-cash cost of land and improved development	(10,196)
Amortization of parcel real estate development investments	(3,212)
Timber depletion from harvesting activities and basis of timber sold in real estate sales	(633)
Capitalized real estate development investments	8,957
Capital expenditures (silviculture)	116
Intersegment transfers	4,345
Total balance, ending balance	130,995
Less: Current portion, ending balance	(18,498)
Non-current portion, ending balance	112,497
Capitalized interest	400
Parcel real estate development investments	2,900
Land and Timber
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance	87,910
Plus: Current portion, beginning balance	718
Total balance, beginning balance	88,628
Non-cash cost of land and improved development	(579)
Amortization of parcel real estate development investments	0
Timber depletion from harvesting activities and basis of timber sold in real estate sales	(633)
Capitalized real estate development investments	0
Capital expenditures (silviculture)	116
Intersegment transfers	4,345
Total balance, ending balance	91,877
Less: Current portion, ending balance	(1,058)
Non-current portion, ending balance	90,819
Development Investments
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance	18,968
Plus: Current portion, beginning balance	24,022
Total balance, beginning balance	42,990
Non-cash cost of land and improved development	(9,617)
Amortization of parcel real estate development investments	(3,212)
Timber depletion from harvesting activities and basis of timber sold in real estate sales	0
Capitalized real estate development investments	8,957
Capital expenditures (silviculture)	0
Intersegment transfers	0
Total balance, ending balance	39,118
Less: Current portion, ending balance	(17,440)
Non-current portion, ending balance	$ 21,678

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory [Line Items]
Inventory	$ 25,330	$ 28,523
Real estate inventory
Inventory [Line Items]
Inventory	18,498	24,740
Log inventory
Inventory [Line Items]
Inventory	$ 6,832	$ 3,783

OTHER OPERATING (EXPENSE) INC_3

OTHER OPERATING (EXPENSE) INCOME, NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Income and Expenses [Abstract]
Gain on foreign currency remeasurement, net of cash flow hedges	$ 1,249	$ 1,922	$ 677	$ 4,351
Gain on sale or disposal of property and equipment	6	3	31	93
Log trading marketing fees	0	0	0	6
Equity (loss) income related to Bainbridge Landing LLC joint venture	(145)	186	(370)	206
Miscellaneous expense, net	(309)	(155)	(520)	(252)
Total	$ 801	$ 1,956	$ (182)	$ 4,404

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) $ in Thousands	3 Months Ended		6 Months Ended
EMPLOYEE BENEFIT PLANS (Details) $ in Thousands	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) plan	Jun. 30, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of qualified defined benefit plans \| plan			1
Pension contributions paid			$ 0
Weighted-average expected long-term rate of return on plan assets (as a percent)			5%
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	609	557	1,217	1,114
Expected return on plan assets	(872)	(936)	(1,743)	(1,873)
Amortization of losses	184	288	369	577
Net periodic benefit (credit) cost	(79)	(91)	(157)	(182)
Postretirement
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	2	3	4
Interest cost	13	11	26	23
Expected return on plan assets	0	0	0	0
Amortization of losses	4	5	7	10
Net periodic benefit (credit) cost	$ 19	$ 18	$ 36	$ 37

INCOME TAXES (Details)

INCOME TAXES (Details)	Jun. 30, 2022
Operating Partnership
Income Taxes
Ownership interest (as a percent)	97.80%

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ (1,304)	$ (6,880)	$ (6,818)	$ (10,302)

INCOME TAXES - Schedule of Effe

INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Annualized effective tax rate after discrete items	9.20%	11%

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Components (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 1,771,776
Other comprehensive income (loss) before reclassifications	14,377	$ 36,634
Amounts reclassified from accumulated other comprehensive income	5,837	17,647
Net other comprehensive income (loss)	20,214	54,281
Ending balance	1,807,434	1,771,776
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(19,604)	(73,885)
Ending balance	610	(19,604)
Foreign currency translation (loss) gains
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	4,215	22,702
Other comprehensive income (loss) before reclassifications	(28,706)	(18,487)
Amounts reclassified from accumulated other comprehensive income	0	0
Net other comprehensive income (loss)	(28,706)	(18,487)
Ending balance	(24,491)	4,215
Net investment hedges of New Zealand subsidiary
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	1,321	1,321
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	0	0
Net other comprehensive income (loss)	0	0
Ending balance	1,321	1,321
Cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(9,163)	(71,056)
Other comprehensive income (loss) before reclassifications	43,413	44,899
Amounts reclassified from accumulated other comprehensive income	4,657	16,994
Net other comprehensive income (loss)	48,070	61,893
Ending balance	38,907	(9,163)
Cash flow hedges \| Interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other comprehensive income (loss) before reclassifications	49,800	52,500
Employee benefit plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(11,836)	(24,312)
Other comprehensive income (loss) before reclassifications	0	11,302
Amounts reclassified from accumulated other comprehensive income	376	1,174
Net other comprehensive income (loss)	376	12,476
Ending balance	(11,460)	(11,836)
Total Rayonier, L.P.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(15,463)	(71,345)
Other comprehensive income (loss) before reclassifications	14,707	37,714
Amounts reclassified from accumulated other comprehensive income	5,033	18,168
Net other comprehensive income (loss)	19,740	55,882
Ending balance	4,277	(15,463)
Allocation to Operating Partnership
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(4,141)	(2,540)
Other comprehensive income (loss) before reclassifications	(330)	(1,080)
Amounts reclassified from accumulated other comprehensive income	804	(521)
Net other comprehensive income (loss)	474	(1,601)
Ending balance	$ (3,667)	$ (4,141)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassified AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other operating (expense) income, net	$ (801)	$ (1,956)	$ 182	$ (4,404)
Interest expense	(9,083)	(13,000)	(17,420)	(23,027)
Income tax expense	(1,304)	(6,880)	(6,818)	(10,302)
Net loss on cash flow hedges reclassified from accumulated other comprehensive income	$ (25,287)	$ (63,420)	(56,286)	(78,452)
Amount reclassified from accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net loss on cash flow hedges reclassified from accumulated other comprehensive income			4,657	10,955
Cash flow hedges, parent \| Amount reclassified from accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax expense			(15)	(551)
Cash flow hedges, parent \| Amount reclassified from accumulated other comprehensive income (loss) \| Foreign currency exchange contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other operating (expense) income, net			71	1,725
Cash flow hedges, parent \| Amount reclassified from accumulated other comprehensive income (loss) \| Realized loss on foreign currency option contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other operating (expense) income, net			0	827
Cash flow hedges, parent \| Amount reclassified from accumulated other comprehensive income (loss) \| Interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense			4,617	9,541
Cash flow hedges, noncontrolling interest \| Amount reclassified from accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Comprehensive income attributable to noncontrolling interests			$ (16)	$ (587)

RESTRICTED CASH - Narrative (De

RESTRICTED CASH - Narrative (Details)	6 Months Ended
RESTRICTED CASH - Narrative (Details)	Jun. 30, 2022
Restricted Cash and Investments [Abstract]
Period for proceeds to be returned	180 days

RESTRICTED CASH - Schedule of R

RESTRICTED CASH - Schedule of Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 280,280	$ 362,173	$ 314,308
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows	296,073	369,139	315,010	$ 87,482
Excluding Timber Funds
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, excluding Timber Funds	14,329	625	702
Cash and cash equivalents	279,331	358,680
Excluding Timber Funds \| Held In Escrow
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, excluding Timber Funds	625		702
Excluding Timber Funds \| Restricted cash deposited with LKE intermediary
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, excluding Timber Funds	13,704		0
Timber Funds
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, Timber Funds	1,464	6,341	$ 0
Cash and cash equivalents	$ 949	$ 3,493

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - Properties Under Contract - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Period expected for sales to finalize (in months)	12 months
Assets held for sale	$ 2.2	$ 5.1
Asset impairment recognized	$ 0

RELATED PARTY - Narrative (Deta

RELATED PARTY - Narrative (Details) - Agreement to Sell Developed Lots - Mattamy Jacksonville LLC - USD ($) $ in Thousands	1 Months Ended
	May 31, 2021	Jan. 31, 2020
Related Party Transaction [Line Items]
Related party transaction, transaction amount	$ 1,000	$ 4,450
Related party transaction, takedown period (in years)		2 years

RELATED PARTY - Related Party T

RELATED PARTY - Related Party Transactions on Consolidated Statements of Income and Comprehensive Income (Details) - Mattamy Jacksonville LLC - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Related Party Transaction [Line Items]
Revenue from related parties	$ 339	$ 1,446	$ 513	$ 1,488
Reimbursement Of Local Impact Fees
Related Party Transaction [Line Items]
Related party transaction, transaction amount		$ 100		$ 200