Rayonier (RYN) 10-K 22 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 15, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	RAYONIER INC.
Trading Symbol	RYN
Entity Central Index Key	52,827
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		129,488,661
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 4,984,846,064

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
SALES	$ 166,146	$ 200,890	$ 245,906	$ 203,196	$ 239,722	$ 184,419	$ 200,964	$ 194,491	$ 816,138	$ 819,596	$ 815,915
Costs and Expenses
Cost of sales	(139,092)	(143,261)	(184,418)	(138,488)	(149,832)	(136,983)	(144,610)	(136,828)	(605,259)	(568,253)	(526,439)
Selling and general expenses									(41,951)	(40,245)	(42,785)
Other operating income, net (Note 17)									1,140	4,393	9,086
Costs and Expenses, Total									(646,070)	(604,105)	(560,138)
OPERATING INCOME									170,068	215,491	255,777
Interest expense									(32,066)	(34,071)	(32,245)
Interest income and miscellaneous income (expense), net									4,564	1,840	(698)
INCOME BEFORE INCOME TAXES									142,566	183,260	222,834
Income tax expense (Note 9)									(25,236)	(21,681)	(5,064)
NET INCOME	4,647	30,639	39,338	42,706	66,920	28,803	30,773	35,083	117,330	161,579	217,770
Less: Net income attributable to noncontrolling interest									(15,114)	(12,737)	(5,798)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	$ 1,987	$ 23,432	$ 36,258	$ 40,539	$ 64,150	$ 24,688	$ 26,161	$ 33,843	102,216	148,842	211,972
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net of income tax effect of $0, $0 and $0									(22,759)	9,114	6,322
Cash flow hedges, net of income tax effect of $1,270, $594 and $545									5,029	5,693	22,822
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax effect of $711, $0 and $0									(1,630)	(208)	5,533
Total other comprehensive income									(19,360)	14,599	34,677
COMPREHENSIVE INCOME									97,970	176,178	252,447
Less: Comprehensive income attributable to noncontrolling interest									(8,931)	(14,775)	(9,555)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.									$ 89,039	$ 161,403	$ 242,892
Basic earnings per share attributable to Rayonier Inc.
Net Income, Basic (in dollars per share)	$ 0.02	$ 0.18	$ 0.28	$ 0.31	$ 0.50	$ 0.19	$ 0.20	$ 0.27	$ 0.79	$ 1.17	$ 1.73
Diluted earnings per share attributable to Rayonier Inc.
Net income, Diluted (in dollars per share)	$ 0.02	$ 0.18	$ 0.28	$ 0.31	$ 0.50	$ 0.19	$ 0.20	$ 0.27	$ 0.79	$ 1.16	$ 1.73

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, income tax (expense) benefit	$ 0	$ 0	$ 0
Cash flow hedges, income tax expense	1,270	594	545
Amortization of pension and postretirement plan liabilities, income tax (expense) benefit	$ 711	$ 0	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 148,374	$ 112,653
Accounts receivable, less allowance for doubtful accounts of $8 and $23	26,151	27,693
Inventory (Note 18)	15,703	24,141
Prepaid logging roads	11,976	11,207
Prepaid expenses	5,040	4,786
Other current assets	609	3,047
Total current assets	207,853	183,527
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,401,327	2,462,066
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 6)	85,609	80,797
PROPERTY, PLANT AND EQUIPMENT
Land	4,131	3,962
Buildings	22,503	23,618
Machinery and equipment	3,534	4,440
Construction in progress	567	627
Total property, plant and equipment, gross	30,735	32,647
Less—accumulated depreciation	(7,984)	(9,269)
Total property, plant and equipment, net	22,751	23,378
RESTRICTED CASH (NOTE 19)	8,080	59,703
OTHER ASSETS (NOTE 20)	55,046	49,010
TOTAL ASSETS	2,780,666	2,858,481
CURRENT LIABILITIES
Accounts payable	18,019	25,148
Current maturities of long-term debt (Note 5)	0	3,375
Accrued taxes	3,178	3,781
Accrued payroll and benefits	10,416	9,662
Accrued interest	5,007	5,054
Deferred revenue	10,447	9,721
Other current liabilities	16,474	11,807
Total current liabilities	63,541	68,548
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS (NOTE 5)	972,567	1,022,004
PENSION AND OTHER POSTRETIREMENT BENEFITS (NOTE 15)	29,800	31,905
OTHER NON-CURRENT LIABILITIES	60,208	43,084
COMMITMENTS AND CONTINGENCIES (NOTES 8 and 10)
SHAREHOLDERS’ EQUITY
Common Shares, 480,000,000 shares authorized, 129,488,675 and 128,970,776 shares issued and outstanding	884,263	872,228
Retained earnings	672,371	707,378
Accumulated other comprehensive income (Note 21)	239	13,417
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,556,873	1,593,023
Noncontrolling interest	97,677	99,917
TOTAL SHAREHOLDERS’ EQUITY	1,654,550	1,692,940
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,780,666	$ 2,858,481

(Parenthetical)

(Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current Assets:
Accounts receivable, allowance for doubtful accounts	$ 8	$ 23
Shareholders' Equity:
Common stock, shares authorized (in shares)	480,000,000	480,000,000
Common stock, shares, issued (in shares)	129,488,675	128,970,776
Common stock, shares outstanding (in shares)	129,488,675	128,970,776

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Shares	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2015		122,770,217
Beginning balance at Dec. 31, 2015	$ 1,361,740	$ 708,827	$ 612,760	$ (33,503)	$ 73,656
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	217,770		211,972		5,798
Dividends ($1.00, $1.00, and $1.06 per share, respectively)	(123,155)		(123,155)
Issuance of shares under incentive stock plans, (in shares)		179,743
Issuance of shares under incentive stock plans	1,576	$ 1,576
Stock-based compensation	5,136	$ 5,136
Repurchase of common shares, (in shares)		(45,592)
Repurchase of common shares	(868)	$ (178)	(690)
Actuarial change and amortization of pension and postretirement plan liabilities	5,533			5,533
Foreign currency translation adjustment	6,322			2,780	3,542
Cash flow hedges	22,822			22,608	214
Recapitalization of New Zealand Joint Venture	0	(5,398)		3,438	1,960
Recapitalization costs	(124)	$ (96)			(28)
Ending balance (in shares) at Dec. 31, 2016		122,904,368
Ending balance at Dec. 31, 2016	1,496,752	$ 709,867	700,887	856	85,142
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative-effect adjustment due to adoption of ASU No. 2018-02 | Accounting Standards Update 2016-16	(14,365)		(14,365)
Net income	161,579		148,842		12,737
Dividends ($1.00, $1.00, and $1.06 per share, respectively)	(127,986)		(127,986)
Issuance of shares under incentive stock plans, (in shares)		322,314
Issuance of shares under incentive stock plans	4,751	$ 4,751
Stock-based compensation	5,396	$ 5,396
Repurchase of common shares, (in shares)		(5,906)
Repurchase of common shares	(176)	$ (176)
Actuarial change and amortization of pension and postretirement plan liabilities	(208)			(208)
Foreign currency translation adjustment	9,114			7,416	1,698
Cash flow hedges	5,693			5,353	340
Issuance of shares under equity offering, net of costs (in shares)		5,750,000
Issuance of shares under equity offering, net of costs	152,390	$ 152,390
Ending balance (in shares) at Dec. 31, 2017		128,970,776
Ending balance at Dec. 31, 2017	1,692,940	$ 872,228	707,378	13,417	99,917
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative-effect adjustment due to adoption of ASU No. 2018-02 | Accounting Standards Update 2018-02	0		711	(711)
Net income	117,330		102,216		15,114
Dividends ($1.00, $1.00, and $1.06 per share, respectively)	(137,934)		(137,934)
Issuance of shares under incentive stock plans, (in shares)		599,422
Issuance of shares under incentive stock plans	8,591	$ 8,591
Stock-based compensation	6,428	$ 6,428
Repurchase of common shares, (in shares)		(81,523)
Repurchase of common shares	(2,984)	$ (2,984)
Actuarial change and amortization of pension and postretirement plan liabilities	(919)			(919)
Foreign currency translation adjustment	(22,759)			(17,329)	(5,430)
Cash flow hedges	5,029			5,781	(752)
Distribution to minority shareholder	(11,172)				(11,172)
Ending balance (in shares) at Dec. 31, 2018		129,488,675
Ending balance at Dec. 31, 2018	$ 1,654,550	$ 884,263	$ 672,371	$ 239	$ 97,677

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends (dollars per share)	$ 1.06	$ 1	$ 1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES
Net income		$ 117,330	$ 161,579	$ 217,770
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization		144,121	127,566	115,142
Non-cash cost of land and improved development		23,553	13,684	11,690
Stock-based incentive compensation expense		6,428	5,396	5,136
Amortization of debt discount/premium		0	0	(462)
Deferred income taxes		22,832	21,980	5,170
Amortization of losses from pension and postretirement plans		675	465	2,513
Gain on sale of large disposition of timberlands		0	(66,994)	(143,933)
Other		(2,613)	(716)	336
Changes in operating assets and liabilities:
Receivables		765	(6,362)	2,517
Inventories		1,773	(1,384)	(1,175)
Accounts payable		(4,626)	3,435	(559)
Income tax receivable/payable		0	(434)	(206)
All other operating activities		(142)	(1,931)	(10,138)
CASH PROVIDED BY OPERATING ACTIVITIES		310,096	256,284	203,801
INVESTING ACTIVITIES
Capital expenditures		(62,325)	(65,345)	(58,723)
Real estate development investments		(9,501)	(15,784)	(8,746)
Purchase of timberlands		(57,608)	(242,910)	(366,481)
Assets purchased in business acquisition		0	0	(887)
Net proceeds from large disposition of timberlands		0	95,243	203,862
Rayonier office building under construction		0	(6,084)	(6,307)
Other		(3,421)	(373)	2,311
CASH USED FOR INVESTING ACTIVITIES		(132,855)	(235,253)	(234,971)
FINANCING ACTIVITIES
Issuance of debt		1,014	63,389	695,916
Repayment of debt		(54,416)	(100,157)	(458,415)
Dividends paid		(136,772)	(127,069)	(122,845)
Proceeds from the issuance of common shares under incentive stock plan		8,591	4,751	1,576
Proceeds from the issuance of common shares from equity offering, net of costs		0	152,390	0
Repurchase of common shares		(2,984)	(176)	(690)
Proceeds from shareholder distribution hedge		2,025	0	0
Distribution to minority shareholder		(11,172)	0	0
Debt issuance costs		0	0	(818)
Other		0	0	(301)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES		(193,714)	(6,872)	114,423
EFFECT OF EXCHANGE RATE CHANGES ON CASH		571	580	(938)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (a)
Change in cash, cash equivalents and restricted cash	[1]	(15,902)	14,739	82,315
Balance, beginning of year		172,356	157,617	75,302
Balance, end of year		156,454	172,356	157,617
Cash paid during the year:
Interest (b)	[2]	33,120	36,041	36,289
Income taxes		2,150	514	501
Non-cash investing activity:
Capital assets purchased on account		$ 2,001	$ 3,809	$ 4,683
[1]	(a)Due to the adoption of ASU No. 2016-08, restricted cash is now included with cash and cash equivalents when reconciling the beginning-of-year and end-of-year total amounts shown and therefore changes in restricted cash are no longer reported as investing activities. Prior year amounts have been restated to conform to current year presentation. For additional information and a reconciliation of cash, see
[2]	(b) Interest paid is presented net of patronage payments received of $4.1 million and $3.0 million for the years ended December 31, 2018 and December 31, 2017, respectively. For additional information on patronage payments, see Note 5 — Debt

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Cash Flows [Abstract]
Patronage payments received	$ 4.1	$ 3

Nature of Business Operations

Nature of Business Operations	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business Operations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#002e5b;font-weight:bold;">NATURE OF BUSINESS OPERATIONS </font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Rayonier Inc., a North Carolina corporation, including its consolidated subsidiaries (“Rayonier” or “the Company”), is a leading timberland real estate investment trust (“REIT”) with assets located in some of the most productive softwood timber growing regions in the U.S. and New Zealand. Rayonier owns or leases approximately </font><font style="font-family:Arial;font-size:10pt;">2.6 million</font><font style="font-family:Arial;font-size:10pt;"> acres of timberland, located in the United States and New Zealand. Included in this property is approximately </font><font style="font-family:Arial;font-size:10pt;">0.2 million</font><font style="font-family:Arial;font-size:10pt;"> acres of timberlands located primarily along the coastal region from Savannah, Georgia to Daytona Beach, Florida, some of which has long-term potential for real estate development. The Company also engages in the trading of logs, primarily to support the Company’s New Zealand export operations. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Rayonier operates in </font><font style="font-family:Arial;font-size:10pt;">five</font><font style="font-family:Arial;font-size:10pt;"> reportable business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. See </font><a style="font-family:Arial;font-size:10pt;" href="#s805015E7DBBD5FEE9746DAD7A237C704"><font style="font-family:Arial;font-size:10pt;">Item 1 — Business</font></a><font style="font-family:Arial;font-size:10pt;"> for a discussion of each of the Company’s reportable segments.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company is a REIT and is generally not required to pay federal income taxes on its U.S. timber harvest earnings and other U.S. REIT operations contingent upon meeting applicable distribution, income, asset, shareholder and other tests. See </font><a style="font-family:Arial;font-size:10pt;" href="#s1285FE4058DC572398B7A0642A409C0C"><font style="font-family:Arial;font-size:10pt;">Note 10 —Income Taxes</font></a><font style="font-family:Arial;font-size:10pt;"> for further discussion of REIT and non-REIT qualifying operations.</font></div></div>

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These statements include the accounts of Rayonier Inc. and its subsidiaries, in which it has a majority ownership or controlling interest. As of April 2013, the Company held a controlling interest ( 65% ) in the New Zealand subsidiary, and, as such, consolidates its results of operations and Balance Sheet. In March 2016, the Company made a capital contribution into the New Zealand subsidiary, and as a result, the Company’s ownership interest increased to 77% . The Company records a noncontrolling interest in its consolidated financial statements representing the minority ownership interest ( 23% ) of the New Zealand subsidiary’s results of operations and equity. All intercompany balances and transactions are eliminated. RECLASSIFICATIONS During 2018, management changed how it internally evaluates the business performance of its New Zealand Timber segment. In order to align segment reporting, the Company has reclassified New Zealand timberland sales from the New Zealand Timber segment to the Real Estate segment. All prior period amounts previously reported have been reclassified to reflect the realigned segments. See Note 4 — Segment and Geographic Information . USE OF ESTIMATES The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and to disclose contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. There are risks inherent in estimating and therefore actual results could differ from those estimates. CASH AND CASH EQUIVALENTS Cash and cash equivalents include time deposits with original maturities of three months or less. The consolidated cash balance includes time deposits of $26.7 million at December 31, 2017 . No cash was held in time deposits at December 31, 2018 . ACCOUNTS RECEIVABLE Accounts receivable are primarily amounts due to the Company for the sale of timber and are presented net of an allowance for doubtful accounts. INVENTORY HBU real estate properties that are expected to be sold within one year are included in inventory at lower of cost or net realizable value. HBU properties that are expected to be sold after one year are included in a separate balance sheet line, entitled “Higher and Better Use Timberlands and Real Estate Development Investments.” See below for additional information. Inventory also includes logs available to be sold by the Trading segment. Log inventory is recorded at the lower of cost or net realizable value and expensed to cost of sales when sold to third-party buyers. See Note 18 — Inventory for additional information. PREPAID LOGGING ROADS Costs for roads built in the Pacific Northwest and New Zealand to access particular tracts to be harvested in the upcoming 24 months to 60 months are recorded as prepaid logging roads. The Company charges such costs to expense as timber is harvested using an amortization rate determined annually as the total cost of prepaid roads divided by the estimated tons of timber to be accessed by those roads. The prepaid balance is classified as short-term or long-term based on the upcoming harvest schedule. See Note 20 — Other Assets for additional information. DEFFERED FINANCING COSTS Deferred financing costs related to revolving debt are capitalized and amortized to interest expense over the term of the revolving debt using a method that approximates the effective interest method. See Note 20 — Other Assets for additional information on deferred financing costs related to revolving debt. See Note 5 — Debt for additional information on deferred financing costs related to term debt. CAPITALIZED SOFTWARE COSTS Software costs are capitalized and amortized over a period not exceeding five years using the straight-line method. TIMBER AND TIMBERLANDS Timber is stated at the lower of cost or net realizable value. Costs relating to acquiring, planting and growing timber including real estate taxes, site preparation and direct support costs relating to facilities, vehicles and supplies are capitalized. Annual lease payments are capitalized or expensed based on the proportion of acres that the Company will be able to harvest prior to lease expiration. Lease payments made within one year of expiration are expensed as incurred. Payroll costs are capitalized for time spent on timber growing activities, while interest or any other intangible costs are not capitalized. An annual depletion rate is established for each particular region by dividing merchantable inventory cost by standing merchantable inventory volume, which is estimated annually. The Company charges accumulated costs attributed to merchantable timber to depletion expense (cost of sales), at the time the timber is harvested or when the underlying timberland is sold. Upon the acquisition of timberland, the Company makes a determination on whether to combine the newly acquired merchantable timber with an existing depletion pool or to create a new, separate pool. This determination is based on the geographic location of the new timber, the customers/markets that will be served and the species mix. If the acquisition is similar, the cost of the acquired timber is combined into an existing depletion pool and a new depletion rate is calculated for the pool. This determination and depletion rate adjustment normally occurs in the quarter following the acquisition. HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS HBU timberland is recorded at the lower of cost or net realizable value. These properties are managed as timberlands until sold or developed with sales and depletion expense related to the harvesting of timber accounted for within the respective timber segment. At the time of sale, the cost basis of any unharvested timber is recorded as depletion expense, a component of cost of sales, within the Real Estate segment. Real estate development investments include capitalized costs for targeted infrastructure improvements, such as roadways and utilities. HBU timberland and real estate development investments expected to be sold within twelve months are recorded as inventory. See Note 6 — Higher and Better Use Timberlands and Real Estate Development Investments for additional information. PROPERTY, PLANT, EQUIPMENT AND DEPRECIATION Property, plant and equipment additions are recorded at cost, including applicable freight, interest, construction and installation costs. The Company depreciates its assets, including office and transportation equipment, using the straight-line depreciation method over 3 to 25 years. Buildings and land improvements are depreciated using the straight-line method over 15 to 35 years and 5 to 30 years, respectively. Gains and losses on the retirement of assets are included in operating income. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets that are held and used is measured by net undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is the amount the carrying value exceeds the fair value of the assets, which is based on a discounted cash flow model. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy that prioritizes the inputs used to measure fair value was established 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, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. 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. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. GOODWILL Goodwill represents the excess of the acquisition cost of the New Zealand Timber segment over the fair value of the net assets acquired. Goodwill is not amortized, but is periodically reviewed for impairment. An impairment test for this reporting unit’s goodwill is performed annually and whenever events or circumstances indicate that the value of goodwill may be impaired. The Company compares the fair value of the New Zealand Timber segment, using an independent valuation for the New Zealand forest assets, to its carrying value including goodwill. The independent valuation of the New Zealand forest assets is based on discounted cash flow models where the fair value is calculated using cash flows from sustainable forest management plans. The fair value of the forest assets is measured as the present value of cash flows from one growth cycle based on the productive forest land, taking into consideration environmental, operational, and market restrictions. These cash flow valuations involve a number of estimates that require broad assumptions and significant judgment regarding future performance. The annual impairment test was performed as of October 1, 2018; the estimated fair value of the New Zealand Timber segment exceeded its carrying value and no impairment was recorded. Except for changes in the New Zealand foreign exchange rate, there have been no adjustments to the carrying value of goodwill since the initial recognition. Note 20 — Other Assets for additional information. FOREIGN CURRENCY TRANSLATION The functional currency of the Company’s New Zealand-based operations is the New Zealand dollar. All assets and liabilities are translated into U.S. dollars at the exchange rate in effect at the respective balance sheet dates. Translation gains and losses are recorded as a separate component of Accumulated Other Comprehensive Income (“AOCI”), within Shareholders’ Equity. U.S. denominated transactions of the New Zealand subsidiary are translated into New Zealand dollars at the exchange rate in effect on the date of the transaction and recognized in earnings, net of related cash flow hedges. All income statement items of the New Zealand subsidiary are translated into U.S. dollars for reporting purposes using monthly average exchange rates with translation gains and losses being recorded as a separate component of AOCI, within Shareholders’ Equity. REVENUE RECOGNITION The Company recognizes revenues 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”). The Company generally satisfies performance obligations within a year of entering into a contract and therefore has applied the disclosure exemption found under ASC 606-10-50-14. Unsatisfied performance obligations as of December 31, 2018 are primarily due to advances on stumpage contracts and unearned hunt license revenue. These performance obligations are expected to be satisfied within the next twelve months. The Company generally collects payment within a year of satisfying performance obligations and therefore has elected not to adjust revenues for a financing component. TIMBER SALES Revenue from the sale of timber is recognized when control passes to the buyer. The Company utilizes two primary methods or sales channels for the sale of timber – a stumpage/standing timber model and a delivered log model. The sales method the Company employs depends upon local market conditions and which method management believes will provide the best overall margins. Under the stumpage model, standing timber is sold primarily under pay-as-cut contracts, with specified duration (typically one year or less) and fixed prices, whereby revenue is recognized as timber is severed and the sales volume is determined. The Company also sells stumpage under lump-sum contracts for specified parcels where the Company receives cash for the full agreed value of the timber prior to harvest and control passes to the buyer upon signing the contract. The Company retains interest in the land, slash products, and the use of the land for recreational and other purposes. Any uncut timber remaining at the end of the contract period reverts to the Company. Revenue is recognized for lump-sum timber sales when payment is received, the contract is signed and control passes to the buyer. A third type of stumpage sale the Company utilizes is an agreed-volume sale, whereby revenue is recognized using the output method, as periodic physical observations are made of the percentage of acreage harvested. Under the delivered log model, the Company hires third-party loggers and haulers to harvest timber and deliver it to a buyer. Sales of domestic logs generally do not require an initial payment and are made to third-party customers on open credit terms. Sales of export logs generally require a letter of credit from an approved bank. Revenue is recognized when the logs are delivered and control has passed to the buyer. For domestic log sales, control is considered passed to the buyer as the logs are delivered to the customer’s facility. For export log sales (primarily in New Zealand), control is considered passed to the buyer upon delivery onto the export vessel. The following table summarizes revenue recognition and general payment terms for timber sales: Contract Type Performance Obligation Timing of Revenue Recognition General Payment Terms Stumpage Pay-as-Cut Right to harvest a unit (i.e. ton, MBF, JAS m3) of standing timber As timber is severed (point-in-time) Initial payment between Stumpage Lump Sum Right to harvest an agreed upon acreage of standing timber Contract execution (point-in-time) Full payment due upon contract execution Stumpage Agreed Volume Right to harvest an agreed upon volume of standing timber As timber is severed (over-time) Payments made throughout contract term at the earlier of a specified harvest percentage or time elapsed Delivered Wood (Domestic) Delivery of a unit (i.e. ton, MBF, JAS m3) of timber to customer’s facility Upon delivery to customer’s facility (point-in-time) No initial payment and on open credit terms; collection generally within 30 days of invoice Delivered Wood (Export) Delivery of a unit (i.e. ton, MBF, JAS m3) onto export vessel Upon delivery onto export vessel (point-in-time) Letter of credit from an approved bank; collection generally within 30 days of delivery NON-TIMBER SALES Non-timber income is primarily comprised of hunting and recreational licenses. Such income and any related cost are recognized ratably over the term of the agreement and included in “Sales” and “Cost of sales”, respectively. Payment is generally due upon contract execution. LOG TRADING Log trading revenue is generally recognized when procured logs are delivered to the buyer and control has passed. For domestic log trading, control is considered passed to the buyer as the logs are delivered to the customer’s facility. For export log trading, control is considered passed to the buyer upon delivery onto the export vessel. The Trading segment also includes sales from log agency contracts, whereby the Company acts as an agent managing export services on behalf of third parties. Revenue for log agency fees are recognized net of related costs. REAL ESTATE The Company recognizes revenue on sales of real estate generally at the point in time when cash has been received, the sale has closed, and control has passed to the buyer. A deposit of 5% is generally required at the time a purchase and sale agreement is executed, with the balance due at closing. On sales of real estate containing future performance obligations, revenue is recognized using the input method based on costs incurred to date relative to the total costs expected to fulfill the performance obligations in the contract with the customer. COST OF SALES Cost of sales associated with timber operations primarily include the cost basis of timber sold (depletion) and logging and transportation costs (cut and haul). Depletion includes the amortization of capitalized costs (site preparation, planting and fertilization, real estate taxes, timberland lease payments and certain payroll costs). Other costs include amortization of capitalized costs related to road and bridge construction and software, depreciation of fixed assets and equipment, road maintenance, severance and excise taxes and fire prevention. Cost of sales associated with real estate sold includes the cost of the land, the cost of any timber on the property that was conveyed to the buyer, any real estate development costs and any closing costs including sales commissions that may be borne by the Company. As allowed under GAAP, the Company expenses closing costs, including sales commissions, when incurred for all real estate sales with future performance obligations expected to be satisfied within one year. When developed residential or commercial land is sold, the cost of sales includes actual costs incurred and estimates of future development costs benefiting the property sold through completion. Costs are allocated to each sold unit or lot based upon the relative sales value. For purposes of allocating development costs, estimates of future revenues and development costs are re-evaluated periodically throughout the year, with adjustments being allocated prospectively to the remaining units available for sale. EMPLOYEE BENEFIT PLANS The determination of expense and funding requirements for Rayonier’s defined benefit pension plan, its unfunded excess pension plan and its postretirement life insurance plan are largely based on a number of actuarial assumptions. The key assumptions include discount rate, return on assets, salary increases, mortality rates and longevity of employees. See Note 15 — Employee Benefit Plans for assumptions used to determine benefit obligations, and the net periodic benefit cost for the year ended December 31, 2018 . Periodic pension and other postretirement expense is included in “Cost of sales” and “Selling and general expenses” in the Consolidated Statements of Income and Comprehensive Income. At December 31, 2018 and 2017 , the Company’s pension plans were in a net liability position (underfunded) of $28.6 million and $30.6 million , respectively. The estimated amount to be paid in the next 12 months is recorded in “Accrued payroll and benefits” on the Consolidated Balance Sheets, with the remainder recorded as a long-term liability in “Pension and Other Postretirement Benefits.” Changes in the funded status of the Company’s plans are recorded through other comprehensive income (loss) in the year in which the changes occur. The Company measures plan assets and benefit obligations as of the fiscal year-end. See Note 15 — Employee Benefit Plans for additional information. INCOME TAXES The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, operating loss carryforwards and tax credit carryforwards. Deferred tax assets and liabilities are measured pursuant to tax laws using rates expected to apply to taxable income in the years in which the temporary differences are expected to be recovered or settled. The Company recognizes the effect of a change in income tax rates on deferred tax assets and liabilities in the Consolidated Statements of Income and Comprehensive Income in the period that includes the enactment date of the rate change. The Company records a valuation allowance to reduce the carrying amounts of deferred tax assets if it is more-likely-than-not that such deferred tax assets will not be realized. In determining the provision for income taxes, the Company computes an annual effective income tax rate based on annual income by legal entity, permanent differences between book and tax, and statutory income tax rates by jurisdiction. Inherent in the effective tax rate is an assessment of the ultimate outcome of current period uncertain tax positions. The Company adjusts its annual effective tax rate as additional information on outcomes or events becomes available. Discrete items such as taxing authority examination findings or legislative changes are recognized in the period in which they occur. The Company’s income tax returns are subject to audit by U.S. federal, state and foreign taxing authorities. In evaluating the tax benefits associated with various tax filing positions, the Company records a tax benefit for an uncertain tax position if it is more-likely-than-not to be realized upon ultimate settlement of the issue. The Company records a liability for an uncertain tax position that does not meet this criterion. The Company adjusts its liabilities for uncertain tax benefits in the period in which it is determined the issue is settled with the taxing authorities, the statute of limitations expires for the relevant taxing authority to examine the tax position or when new facts or information becomes available. See Note 9 — Income Taxes for additional information. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In February 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-02 , Income Statement — Reporting Compr ehensive Income ( Topic 220 ) Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act. ASU No. 2018-02 is effective for the Company's reporting period beginning on January 1, 2019; early adoption is permitted. The Company elected to adopt ASU No. 2018-02 during the third quarter of 2018, and elected to reclassify the income tax effects of the Tax Cuts and Jobs Act from AOCI to retained earnings. The reclassification decreased AOCI and increased retained earnings by $0.7 million , with zero net effect on total shareholders’ equity. The Company adopted ASU No. 2014-09, Revenue from Contracts with Customers ( Topic 606 ), on January 1, 2018. The Company elected to apply the modified retrospective method to contracts that were not completed at the date of adoption. The Company also elected not to retrospectively restate contracts modified prior to January 1, 2018. A cumulative effect of adoption adjustment to the opening balance of retained earnings was not recorded as there was no accounting impact to any contracts with customers not completed at the date of adoption. See Note 2 — Revenue for additional information. In March 2017, the FASB issued ASU No. 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which requires that an employer report the service cost component of net periodic benefit cost in the Consolidated Statements of Income in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. Additionally, the other components of net periodic benefit cost (interest cost, expected return on plan assets and amortization of losses or gains) are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. ASU No. 2017-07 is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods, and is required to be applied retrospectively to all periods presented beginning in the period of adoption. Rayonier adopted ASU No. 2017-07 during the first quarter ended March 31, 2018 and applied the update retrospectively to all periods presented. See Note 15 — Employee Benefit Plans for the components of net periodic benefit cost and the location of these items in the Consolidated Statements of Income and Comprehensive Income. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash , which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the Consolidated Statements of Cash Flows. ASU No. 2016-18 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. ASU No. 2016-18 is required to be applied retrospectively to all periods presented beginning in the period of adoption. Rayonier adopted ASU No. 2016-18 in the first quarter ended March 31, 2018 and applied the update retrospectively to all periods presented. Restricted cash is now included with cash and cash equivalents when reconciling the beginning-of-year and end-of-period total amounts shown on the Consolidated Statements of Cash Flows, and therefore changes in restricted cash are no longer reported as cash flow activities. See Note 19 — Restricted Cash for additional information, including the nature of restrictions on the Company’s cash, cash equivalents, and restricted cash. The Company adopted ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Receipts and Cash Payments in the first quarter ended March 31, 2018 with no material impact on the consolidated financial statements. The Company adopted ASU No. 2018-03 , Technical Corrections and Improvements to Financial Instruments —Overall (Subtopic 825-10) in the third quarter ended September 30, 2018 with no material impact on the consolidated financial statements. NEW ACCOUNTING PRONOUNCEMENTS In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which currently requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. ASU No. 2016-02 also requires additional qualitative and quantitative disclosures related to the nature, timing and uncertainty of cash flows arising from leases. In January 2018, the FASB issued ASU No. 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842. This update provides an optional transition practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases under the current leases guidance. An entity that elects this practical expedient should evaluate new or modified land easements under ASU No. 2016-02, once adopted. An entity that does not elect this practical expedient should evaluate all existing or expired land easements in connection with the adoption of ASU No. 2016-02 to assess whether they meet the definition of a lease. In December 2018, the FASB issued ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors . This update provides a policy election to not evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs, clarify the accounting for certain lessor costs and require lessors to allocate (rather than recognize) certain variable payments to lease and nonlease components when the changes in facts and circumstances on which a variable payment is based occurs. This standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and is required to be applied on a modified retrospective basis beginning at the earliest period presented. The Company has elected to apply a practical expedient offered in the updated guidance which allows entities to apply the guidance on January 1, 2019 and comparative periods are not restated. The Company also expects to elect the transition practical expedient package available in the guidance whereby we will not reassess whether any of our expired or existing contracts contain a lease, the classification for any expired or existing leases or the initial direct costs for any existing leases. The Company is finalizing its evaluation of its operating lease inventory and other provisions of the updated guidance, but currently expects to recognize additional lease liabilities and corresponding right-of-use assets of less than five percent of our total assets on our Consolidated Balance Sheet, representing the present value of the remaining minimum lease payments at January 1, 2019 with an assumed 20-year term on Crown Forest Licenses. Based on the Company’s assessment, the impact of adoption of the updated guidance is not expected to have a material effect on its results of operations. See Note 8 — Commitments , for information about our lease commitments. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which will make more financial and non-financial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. It is intended to more closely align hedge accounting with companies’ risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. ASU No. 2017-12 is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted and the amended presentation and disclosure guidance is required to be applied on a prospective basis. The Company does not expect a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement . This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. Entities are also allowed to elect early adoption of the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. As ASU No. 2018-13 only revises disclosure requirements, it will not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-14, Disclosure Framework — Changes to the Disclosure Re quirements for Defined Benefit Plans . This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020; early adoption is permitted. As ASU 2018-14 only revises disclosure requirements, it will not have a material impact on the Company’s Consolidated Financial Statements. SUBSEQUENT EVENTS The Company has evaluated events occurring from December 31, 2018

Revenue

Revenue	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE ADOPTION OF ASC 606 For information on the adoption of ASC 606, including changes to significant accounting policies and required transition disclosures, see Note 1 — Summary of Significant Accounting Policies . 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 the Company has 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) the Company performs under the contract. The following table summarizes revenue recognized during the years ended December 31, 2018 and 2017 that was included in the contract liability balance at the beginning of each year: Year Ended December 31, 2018 2017 Revenue recognized from contract liability balance at the beginning of the year (a) $9,004 $8,701 (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 years ended December 31, 2018 , 2017 and 2016 : Year Ended Southern Timber Pacific Northwest Timber New Zealand Timber Real Estate Trading Elim. Total December 31, 2018 Pulpwood $80,134 $14,305 $28,737 — $13,771 — $136,947 Sawtimber 60,295 92,166 213,206 — 134,299 — 499,966 Hardwood 3,433 — — — — — 3,433 Total Timber Sales 143,863 106,471 241,943 — 148,070 — 640,347 License Revenue, Primarily From Hunting 16,285 709 401 — — — 17,395 Other Non-Timber/Carbon Revenue 9,030 2,375 6,670 — — — 18,075 Agency Fee Income — — — — 652 — 652 Total Non-Timber Sales 25,315 3,084 7,071 — 652 — 36,122 Improved Development — — — 8,393 — — 8,393 Unimproved Development — — — 8,621 — — 8,621 Rural — — — 22,689 — — 22,689 Non-strategic / Timberlands — — — 98,872 — — 98,872 Total Real Estate Sales — — — 138,575 — — 138,575 Revenue from Contracts with Customers 169,178 109,555 249,014 138,575 148,722 — 815,044 Other Non-Timber Sales, Primarily Lease 817 277 — — — — 1,094 Intersegment — — — — 92 (92 ) — Total Revenue $169,995 $109,832 $249,014 $138,575 $148,814 ($92 ) $816,138 December 31, 2017 Pulpwood $67,836 $11,242 $24,934 — $13,352 — $117,364 Sawtimber 50,891 77,477 197,521 — 137,854 — 463,743 Hardwood 3,912 — — — — — 3,912 Total Timber Sales 122,639 88,719 222,455 — 151,206 — 585,019 License Revenue, Primarily from Hunting 16,004 646 227 — — — 16,877 Other Non-Timber Revenue 5,061 2,243 617 — — — 7,921 Agency Fee Income — — — — 1,378 — 1,378 Total Non-Timber Sales 21,065 2,889 844 — 1,378 — 26,176 Improved Development — — — 6,348 — — 6,348 Unimproved Development — — — 16,405 — — 16,405 Rural — — — 18,632 — — 18,632 Non-strategic / Timberlands — — — 70,590 — — 70,590 Large Dispositions — — — 95,351 — — 95,351 Total Real Estate Sales — — — 207,326 — — 207,326 Revenue from Contracts with Customers 143,704 91,608 223,299 207,326 152,584 — 818,521 Other Non-Timber Sales, Primarily Lease 806 269 — — — — 1,075 Total Revenue $144,510 $91,877 $223,299 $207,326 $152,584 — $819,596 December 31, 2016 Pulpwood $80,248 $13,202 $18,993 — $8,793 — $121,236 Sawtimber 46,600 61,985 151,747 — 99,520 — 359,852 Hardwood 6,052 — — — — — 6,052 Total Timber Sales 132,854 75,187 170,740 — 108,313 — 487,094 License Revenue, Primarily from Hunting 14,313 503 279 — — — 15,095 Other Non-Timber Revenue 3,267 1,832 5,022 — — — 10,121 Agency Fee Income — — — — 1,369 — 1,369 Total Non-Timber Sales 17,580 2,335 5,301 — 1,369 — 26,585 Improved Development — — — 1,740 — — 1,740 Unimproved Development — — — 5,540 — — 5,540 Rural — — — 18,672 — — 18,672 Non-strategic / Timberlands — — — 67,981 — — 67,981 Large Dispositions — — — 207,265 — — 207,265 Total Real Estate Sales — — — 301,198 — — 301,198 Revenue from Contracts with Customers 150,434 77,522 176,041 301,198 109,682 — 814,877 Other Non-Timber Sales, Primarily Lease 758 280 — — — — 1,038 Total Revenue $151,192 $77,802 $176,041 $301,198 $109,682 — $815,915 The following tables present our timber sales disaggregated by contract type for the years ended December 31, 2018 , 2017 and 2016 : Year Ended Southern Timber Pacific Northwest Timber New Zealand Timber Trading Total December 31, 2018 Stumpage Pay-as-Cut $72,385 — — — $72,385 Stumpage Lump Sum 4,988 11,854 — — 16,842 Stumpage Agreed Volume — — — — — Total Stumpage 77,373 11,854 — — 89,227 Delivered Wood (Domestic) 60,931 94,617 90,631 6,141 252,320 Delivered Wood (Export) 5,559 — 151,312 141,929 298,800 Total Delivered 66,490 94,617 241,943 148,070 551,120 Total Timber Sales $143,863 $106,471 $241,943 $148,070 $640,347 December 31, 2017 Stumpage Pay-as-Cut $71,120 — — — $71,120 Stumpage Lump Sum 9,093 10,628 — — 19,721 Stumpage Agreed Volume — 1,234 — — 1,234 Total Stumpage 80,213 11,862 — — 92,075 Delivered Wood (Domestic) 42,426 76,857 84,221 6,044 209,548 Delivered Wood (Export) — — 138,234 145,162 283,396 Total Delivered 42,426 76,857 222,455 151,206 492,944 Total Timber Sales $122,639 $88,719 $222,455 $151,206 $585,019 December 31, 2016 Stumpage Pay-as-Cut $73,673 — — — $73,673 Stumpage Lump Sum 4,341 2,121 767 — 7,229 Stumpage Agreed Volume — 2,492 — — 2,492 Total Stumpage 78,014 4,613 767 — 83,394 Delivered Wood (Domestic) 54,840 70,574 71,294 3,757 200,465 Delivered Wood (Export) — — 98,679 104,556 203,235 Total Delivered 54,840 70,574 169,973 108,313 403,700 Total Timber Sales $132,854 $75,187 $170,740 $108,313 $487,094

Timberland Acquisitions

Timberland Acquisitions	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Timberland Acquisitions	TIMBERLAND ACQUISITIONS In 2018, the Company acquired approximately 26,000 acres of timberland in Florida, Georgia, and Texas for $45.9 million of like-kind exchange proceeds. Additionally, in two transactions during 2018, the Company acquired forestry rights covering approximately 4,000 acres of timberland in New Zealand for approximately $11.7 million . These acquisitions were funded from operating cash flow and use of the New Zealand subsidiary’s working capital facility. See Note 5 — Debt . In 2017, the Company acquired approximately 95,100 acres of timberlands (including approximately 11,000 acres of leased lands) in Florida, Georgia and South Carolina for $214.3 million using proceeds from the offering and sale of 5.75 million shares under the universal shelf registration along with like-kind exchange proceeds. In five additional transactions throughout 2017, Rayonier purchased approximately 7,000 acres of timberland located in Georgia and Washington for approximately $7.2 million , which were funded with like-kind exchange proceeds. All acquisitions were accounted for as asset purchases. Additionally, in two transactions during 2017, the Company acquired forestry rights covering approximately 8,000 acres of timberland with mature timber in New Zealand for approximately $21.4 million . These acquisitions were funded through the short-term working capital facility, which was fully repaid during the year. The following table summarizes the timberland acquisitions at December 31, 2018 and 2017 : 2018 2017 Cost Acres Cost Acres Florida $35,560 20,513 $32,334 15,382 Georgia 2,532 2,232 147,833 68,473 South Carolina — — 39,884 17,651 Texas 7,851 3,279 — — Washington — — 1,483 481 New Zealand 11,665 3,833 21,376 7,546 Total Acquisitions $57,608 29,857 $242,910 109,533

Segment and Geographical Inform

Segment and Geographical Information	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment and Geographical Information	SEGMENT AND GEOGRAPHICAL INFORMATION Rayonier operates in five reportable segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. See Item 1 — Business for a discussion of each of the Company’s reportable segments. See Note 1 — Summary of Significant Accounting Policies for a discussion of the current year reclassification of New Zealand land sales from the New Zealand Timber segment to the Real Estate segment. Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. The Company evaluates financial performance based on segment operating income and Adjusted EBITDA. Asset information is not reported by segment, as the company does 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 “Corporate and other.” Segment information for each of the three years ended December 31, 2018 follows: Sales by Product Line 2018 2017 2016 Southern Timber $169,995 $144,510 $151,192 Pacific Northwest Timber 109,832 91,877 77,802 New Zealand Timber 249,014 223,299 176,041 Real Estate Improved Development 8,393 6,348 1,740 Unimproved Development 8,621 16,405 5,540 Rural 22,689 18,632 18,672 Non-Strategic / Timberlands 98,872 70,590 67,981 Large Dispositions — 95,351 207,265 Total Real Estate 138,575 207,326 301,198 Trading 148,814 152,584 109,682 Intersegment eliminations (92 ) — — Total Sales $816,138 $819,596 $815,915 Operating Income/(Loss) 2018 2017 2016 Southern Timber $44,245 $42,254 $43,098 Pacific Northwest Timber 8,137 1,127 (3,992 ) New Zealand Timber 62,754 57,567 33,049 Real Estate (a) 76,240 130,856 202,402 Trading 953 4,578 2,002 Corporate and other (22,261 ) (20,891 ) (20,782 ) Total Operating Income 170,068 215,491 255,777 Unallocated interest expense and other (27,502 ) (32,231 ) (32,943 ) Total Income before Income Taxes $142,566 $183,260 $222,834 (a) The years 2017 and 2016 include Large Dispositions of $67.0 million and $143.9 million , respectively. Gross Capital Expenditures 2018 2017 2016 Capital Expenditures (a) Southern Timber $35,388 $34,476 $33,487 Pacific Northwest Timber 9,311 10,254 8,036 New Zealand Timber 17,318 17,046 16,095 Real Estate 284 1,348 315 Corporate and other 24 2,221 790 Total capital expenditures $62,325 $65,345 $58,723 Timberland Acquisitions Southern Timber $45,943 $220,051 $103,947 Pacific Northwest Timber — 1,483 262,534 New Zealand Timber 11,665 21,376 — Total timberland acquisitions $57,608 $242,910 $366,481 Total Gross Capital Expenditures $119,933 $308,255 $425,204 (a) Excludes timberland acquisitions presented separately in addition to spending on the Rayonier office building of $6.1 million and $6.3 million in the years 2017 and 2016, respectively, and real estate development investments of $9.5 million , $15.8 million and $8.7 million in the years 2018, 2017 and 2016, respectively. Depreciation, Depletion and Amortization 2018 2017 2016 Southern Timber $58,609 $49,357 $49,747 Pacific Northwest Timber 32,779 32,008 25,246 New Zealand Timber 28,007 27,499 23,447 Real Estate (a) 23,566 36,343 52,304 Corporate and other 1,160 794 402 Total $144,121 $146,001 $151,146 The years 2017 and 2016 include Large Dispositions of $18.4 million and $36.1 million , respectively. Non-Cash Cost of Land and Improved Development 2018 2017 2016 Real Estate (a) 23,553 23,498 33,862 (a) The years 2017 and 2016 include Large Dispositions of $9.8 million and $22.2 million , respectively. Geographical Operating Information Sales Operating Income Identifiable Assets 2018 2017 2016 2018 2017 2016 2018 2017 United States $390,396 $419,402 $528,345 $83,357 $138,528 $220,703 $2,282,480 $2,331,230 New Zealand 425,742 400,194 287,570 86,711 76,963 35,074 498,186 527,251 Total $816,138 $819,596 $815,915 $170,068 $215,491 $255,777 $2,780,666 $2,858,481

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	DEBT Rayonier’s debt consisted of the following at December 31, 2018 and 2017 : 2018 2017 Term Credit Agreement due 2024 at a variable interest rate of 4.0% at December 31, 2018 $350,000 $350,000 Senior Notes due 2022 at a fixed interest rate of 3.75% 325,000 325,000 Incremental Term Loan Agreement due 2026 at a variable interest rate of 4.2% at December 31, 2018 300,000 300,000 Revolving Credit Facility due 2020 at a variable interest rate of 2.8% at December 31, 2017 — 50,000 New Zealand subsidiary noncontrolling interest shareholder loan at 0% interest rate — 3,375 Total debt 975,000 1,028,375 Less: Current maturities of long-term debt — (3,375 ) Less: Deferred financing costs (2,433 ) (2,996 ) Long-term debt, net of deferred financing costs $972,567 $1,022,004 Principal payments due during the next five years and thereafter are as follows: 2019 — 2020 — 2021 — 2022 325,000 2023 — Thereafter 650,000 Total debt $975,000 TERM CREDIT AGREEMENT In August 2015, the Company entered into a credit agreement with CoBank, ACB, as administrative agent, and a syndicate of Farm Credit institutions and other commercial banks to provide $550 million of new credit facilities, including a nine -year $350 million term loan facility. The periodic interest rate on the term loan facility is subject to a pricing grid based on the Company’s leverage ratio, as defined in the credit agreement. As of December 31, 2018, the periodic interest rate on the term loan facility was LIBOR plus 1.625% . Monthly payments of interest only are due on this loan through maturity. Following the closing of the term loan, the Company entered into several interest rate swap transactions to fix the cost of the term loan facility over its nine -year term. The term credit agreement allows the Company to receive annual patronage payments, which are profit distributions made by a cooperative to its member-users based on the quantity or value of business done with the member-user. The Company estimates the effective interest rate on the term loan facility to be approximately 3.3% after consideration of the interest rate swaps and estimated patronage refunds. For additional information on the Company’s interest rate swaps see Note 13 — Derivative Financial Instruments and Hedging Activities . 3.75% SENIOR NOTES ISSUED MARCH 2012 In March 2012, Rayonier Inc. issued $325 million of 3.75% Senior Notes due 2022, guaranteed by certain subsidiaries. Semi-annual payments of interest only are due on these notes through maturity. See Note 23 - Consolidating Financial Statements for further information regarding the subsidiary guarantors. INCREMENTAL TERM LOAN AGREEMENT In April 2016, the Company entered into an incremental term loan agreement with CoBank, ACB, as administrative agent, and a syndicate of Farm Credit institutions to provide a 10 -year, $300 million incremental term loan. The periodic interest rate on the incremental term loan agreement is subject to a pricing grid based on the Company’s leverage ratio, as defined in the credit agreement. As of December 31, 2018, the periodic interest rate on the incremental term loan was LIBOR plus 1.900% . Monthly payments of interest only are due on this loan through maturity. Following the closing of the incremental term loan, the Company entered into several interest rate swap transactions to fix the cost of the facility over its 10 -year term. The Company estimates the effective interest rate on the incremental term loan facility to be approximately 2.8% after consideration of the interest rate swaps and estimated patronage payments. For additional information on the Company’s interest rate swaps see Note 13 — Derivative Financial Instruments and Hedging Activities . REVOLVING CREDIT FACILITY In August 2015, the Company entered into a five -year $200 million unsecured revolving credit facility, replacing the previous $200 million revolving credit facility and $ 100 million farm credit facility which were scheduled to expire in April 2016 and December 2019, respectively. The periodic interest rate on the revolving credit facility is subject to a pricing grid based on the Company’s leverage ratio, as defined in the credit agreement. As of December 31, 2018, the periodic interest rate on the revolving credit facility was LIBOR plus 1.250% , with an unused commitment fee of 0.175% . Monthly payments of interest only are due on this loan through maturity. At December 31, 2018 , the Company had $189.8 million of available borrowings under this facility, net of $10.2 million to secure its outstanding letters of credit. NEW ZEALAND SUBSIDIARY DEBT In April 2013, Rayonier acquired an additional 39% interest in its New Zealand subsidiary, bringing its total ownership to 65% , and as a result, the New Zealand subsidiary’s debt was consolidated effective on that date. On March 3, 2016, as a result of a capital contribution, the Company’s ownership interest in the New Zealand subsidiary increased to 77% . See Note 7 — New Zealand Subsidiary for further information. SHAREHOLDER LOAN The shareholder loan, which was fully repaid in the first quarter of 2018, was an interest-free loan from the noncontrolling New Zealand subsidiary partner. The loan was unsecured and subordinated to the Working Capital Facilities of the New Zealand subsidiary. Although Rayonier Inc. was not liable for this loan, the shareholder loan instrument contained features with characteristics of both debt and equity and was therefore required to be classified as debt and consolidated. As the loan was effectively at par, the carrying amount was deemed to be the fair value. The entire balance of the shareholder loan was classified as short-term debt at December 31, 2017. WORKING CAPITAL FACILITIES In June 2016, the New Zealand subsidiary entered into a 12 -month NZ $20 million working capital facility and an 18 -month NZ $20 million working capital facility. Both working capital facilities were renewed in 2017 for a total of NZ $40 million . In June 2018, one working capital facility was renewed for an additional 12-month term. The second facility lapsed on December 31, 2018. The NZ $20 million Working Capital Facility is available for short-term operating cash flow needs of the New Zealand subsidiary. This facility holds a variable interest rate indexed to the 90 -day New Zealand Bank Bill rate (“BKBM”). The margins are set for the term of the facility. During the year ended December 31, 2018, the New Zealand subsidiary made borrowings and repayments of $1.0 million on its working capital facility. At December 31, 2018 , there was no outstanding balance on the working capital facility. DEBT COVENANTS In connection with the Company’s $350 million term credit agreement (the “Term Credit Agreement”), $300 million incremental term loan agreement (the “Incremental Term Loan Agreement”) and $200 million revolving credit facility (the “Revolving Credit Facility”), customary covenants must be met, the most significant of which include interest coverage and leverage ratios. In addition to these financial covenants listed above, the Senior Notes, Term Credit Agreement, Incremental Term Loan Agreement and Revolving Credit Facility include customary covenants that limit the incurrence of debt and the disposition of assets, among others. At December 31, 2018

Higher and Better Use Timberlan

Higher and Better Use Timberlands and Real Estate Development Investments	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Higher and Better Use Timberlands and Real Estate Development Investments	HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS Rayonier continuously assesses potential alternative uses of its timberlands, as some properties may become more valuable for development, residential, recreation or other purposes. The Company periodically transfers, via a sale or contribution from the REIT to taxable REIT subsidiaries (“TRS”), HBU timberlands to enable land-use entitlement, development or marketing activities. The Company also acquires 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, the Company also selectively pursues 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, Rayonier also invests in targeted infrastructure improvements, such as roadways and utilities, to accelerate the marketability and improve the value of such properties. An analysis of higher and better use timberlands and real estate development investments from December 31, 2017 to December 31, 2018 is shown below: Higher and Better Use Timberlands and Real Estate Development Investments Land and Timber Development Investments Total Non-current portion at December 31, 2017 $59,653 $21,144 $80,797 Plus: Current portion (a) 6,702 11,648 18,350 Total Balance at December 31, 2017 66,355 32,792 99,147 Non-cash cost of land and improved development (2,193 ) (8,192 ) (10,385 ) Timber depletion from harvesting activities and basis of timber sold in real estate sales (2,450 ) — (2,450 ) Capitalized real estate development investments (b) — 9,501 9,501 Capital expenditures (silviculture) 254 — 254 Intersegment transfers 1,467 — 1,467 Other (5 ) (1 ) (6 ) Total Balance at December 31, 2018 63,428 34,100 97,528 Less: Current portion (a) (4,239 ) (7,680 ) (11,919 ) Non-current portion at December 31, 2018 $59,189 $26,420 $85,609 (a) The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 18 — Inventory for additional information. (b) Capitalized real estate development investments includes $0.6 million

New Zealand Subsidiary

New Zealand Subsidiary	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
New Zealand Subsidiary	The Company maintains a 77% controlling financial interest in Matariki Forestry Group (the “New Zealand subsidiary”), a joint venture that owns or leases approximately 408,000 legal acres of New Zealand timberland. Accordingly, the Company consolidates the New Zealand subsidiary’s balance sheet and results of operations. The portions of the consolidated financial position and results of operations attributable to the New Zealand subsidiary’s 23%

Commitments

Commitments	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments	COMMITMENTS The Company leases certain buildings, machinery and equipment under various operating leases. Total rental expense for operating leases for the three years ended December 31 : 2018 2017 2016 Operating Leases $1,320 $1,992 $2,049 The Company also has long-term lease agreements on certain timberlands in the Southern U.S. and New Zealand. U.S. leases typically have initial terms of approximately 30 to 65 years, with renewal provisions in some cases. New Zealand timberland lease terms range between 30 and 99 years. Such leases are generally non-cancellable and require minimum annual rental payments. Total expenditures for long-term leases and deeds on timberlands (including Crown Forest Licenses) for the three years ended December 31 : 2018 2017 2016 Long-Term Leases and Deeds on Timberlands $9,521 $10,731 $10,710 At December 31, 2018 , the future minimum payments under non-cancellable operating leases, timberland leases and other commitments were as follows: Operating Leases Timberland Leases (a) Commitments (b) Total 2019 $1,234 $8,775 $4,184 $14,193 2020 1,071 8,384 229 9,684 2021 898 8,365 25 9,288 2022 710 8,128 — 8,838 2023 649 7,618 — 8,267 Thereafter (c) 40 137,586 — 137,626 $4,602 $178,856 $4,438 $187,896 (a) The majority of timberland leases are subject to increases or decreases based on either the Consumer Price Index, Producer Price Index or market rates. (b) Commitments include $1.4 million of pension contribution requirements in 2019 based on actuarially determined estimates and IRS minimum funding requirements, payments expected to be made on derivative financial instruments (foreign exchange contracts and interest rate swaps), construction of the Wildlight development project and other purchase obligations. For additional information on the pension contribution see Note 15 — Employee Benefit Plans . (c) Includes 20 years of future minimum payments for perpetual Crown Forest Licenses (“CFL”). A CFL consists of a license to use public or government owned land to operate a commercial forest. The CFL's extend indefinitely and may only be terminated upon a 35 -year termination notice from the government. If no termination notice is given, the CFLs renew automatically each year for a one -year term. As of December 31, 2018 , the New Zealand subsidiary has two CFL’s under termination notice that are currently being relinquished as harvest activities are concluding, as well as two

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our U.S. timber operations are primarily conducted by our REIT entity and is generally not subject to U.S. federal and state income taxation. Our New Zealand timber operations are conducted by the New Zealand subsidiary which is subject to corporate level tax in New Zealand. Our non-REIT qualifying operations, which are subject to corporate-level tax, are held by various TRS. These operations include our log trading business and certain real estate activities, such as the sale , entitlement and development of HBU properties. PROVISION FOR INCOME TAXES FROM CONTINUING OPERATIONS The provision for income taxes for each of the three years ended December 31 follows: 2018 2017 2016 Current U.S. federal $2 $261 — State 37 (38 ) (254 ) Foreign (1,914 ) (245 ) (241 ) (1,875 ) (22 ) (495 ) Deferred U.S. federal 3,803 13,028 5,403 State 146 — (280 ) Foreign (23,360 ) (21,659 ) (6,079 ) (19,411 ) (8,631 ) (956 ) Changes in valuation allowance (3,950 ) (13,028 ) (3,613 ) Total ($25,236 ) ($21,681 ) ($5,064 ) A reconciliation of the U.S. federal statutory income tax rate to the actual income tax rate for each of the three years ended December 31 follows: 2018 2017 2016 U.S. federal statutory income tax rate ($29,939 ) (21.0 )% ($64,141 ) (35.0 )% ($77,992 ) (35.0 )% U.S. and foreign REIT income 32,949 23.1 63,813 34.8 82,037 36.8 Matariki Group and Rayonier New Zealand Ltd (23,166 ) (16.2 ) (19,182 ) (10.5 ) (4,799 ) (2.2 ) Transition tax — — (3,506 ) (1.9 ) — — Change in valuation allowance (3,950 ) (2.8 ) (13,028 ) (7.1 ) (3,613 ) (1.6 ) ASU No. 2016-16 adoption impact — — 16,631 9.1 — — Deemed repatriation of unremitted foreign earnings — — 7,368 4.0 — — Reduction of deferred tax asset for statutory rate change — — (10,499 ) (5.7 ) — — Foreign income tax withholding (1,848 ) (1.3 ) — — — — Other 718 0.5 863 0.5 (697 ) (0.3 ) Income tax (expense) benefit as reported for net income ($25,236 ) (17.7 )% ($21,681 ) (11.8 )% ($5,064 ) (2.3 )% The Company’s effective tax rate is below the 21 percent U.S. statutory rate primarily due to tax benefits associated with being a REIT. DEFERRED TAXES Deferred income taxes result from differences between the timing of recognizing revenues and expenses for financial book purposes versus income tax purposes. The nature of the temporary differences and the resulting net deferred tax asset/liability for the two years ended December 31 follows: 2018 2017 Gross deferred tax assets: Pension, postretirement and other employee benefits $1,791 $1,017 New Zealand subsidiary 14,252 40,224 CBPC tax credit carry forwards 14,555 14,641 Capitalized real estate costs 7,386 7,058 U.S. TRS net operating loss 5,747 1,872 Land basis difference 11,282 11,090 Other 4,047 5,079 Total gross deferred tax assets 59,060 80,981 Less: Valuation allowance (38,839 ) (34,889 ) Total deferred tax assets after valuation allowance $20,221 $46,092 Gross deferred tax liabilities: Accelerated depreciation (73 ) (35 ) New Zealand subsidiary (66,430 ) (72,527 ) Timber installment sale (4,823 ) (4,706 ) Other (1,272 ) (1,270 ) Total gross deferred tax liabilities (72,598 ) (78,538 ) Net deferred tax liability reported as noncurrent ($52,377 ) ($32,446 ) Foreign net operating loss (“NOL”) and tax credit carryforwards as of the two years ended December 31 follows: Gross Amount Valuation Allowance Expiration 2018 New Zealand subsidiary NOL carryforwards $31,052 — None U.S. net deferred tax asset 24,284 (24,284 ) None Cellulosic Biofuel Producer Credit 14,555 (14,555 ) 2019 Total Valuation Allowance ($38,839 ) 2017 New Zealand subsidiary NOL carryforwards $137,949 — None U.S. net deferred tax asset 20,248 (20,248 ) None Cellulosic Biofuel Producer Credit 14,641 (14,641 ) 2019 Total Valuation Allowance ($34,889 ) UNRECOGNIZED TAX BENEFITS A reconciliation of the beginning and ending unrecognized tax benefits for the three years ended December 31 follows: 2018 2017 2016 Balance at January 1, — $135 $135 Decreases related to prior year tax positions (a) — (135 ) — Increases related to prior year tax positions — — — Balance at December 31, — — $135 (a) Result of a lapse of the applicable statute of limitations. The Company records interest (and penalties, if applicable) related to unrecognized tax benefits in non-operating expense. The Company recorded no benefit to interest expense in 2018, 2017 and 2016, respectively and had no recorded liabilities for the payment of interest at December 31, 2018 and 2017 . TAX STATUTES The following table provides detail of the tax years that remain open to examination by the IRS and other significant taxing jurisdictions: Taxing Jurisdiction Open Tax Years U.S. Internal Revenue Service 2015 - 2017 New Zealand Inland Revenue 2013 - 2017 U.S. TAX REFORM The Tax Cuts and Jobs Act (the “Act”) was signed into law on December 22, 2017 making significant changes to the Internal Revenue Code. Changes include a permanent reduction in the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018 and a one-time transition tax on the deemed repatriation of deferred foreign earnings in 2017. The Company has completed its assessment of the accounting implications of the Act. As a result of the reduction in the U.S. corporate tax rate, the Company remeasured its U.S. deferred tax assets and liabilities and recorded zero tax expense due to a full valuation allowance. The deemed repatriation on deferred foreign income was de minimis as the income inclusion was offset by net operating losses (“NOL”). Effective January 1, 2018, the Act subjects a U.S. shareholder to current tax on global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries. The Company’s REIT entity has a GILTI income inclusion of $0.8 million in the current year. The Company has made the policy election to account for the tax effects of GILTI as a component of income tax expense in the period the tax arises, to the extent applicable. ADOPTION OF ASU 2018-02 See Note 1 — Summary of Significant Accounting Policies

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES Following the Company’s November 10, 2014 earnings release and filing of the restated interim financial statements for the quarterly periods ended March 31 and June 30, 2014, (the “November 2014 Announcement”), the Company received five separate letters from shareholders requesting that the Company investigate or pursue derivative claims against certain officers and directors related to the November 2014 Announcement (the “Derivative Claims”). Although these demands did not identify any claims against the Company, the Company has certain obligations to advance expenses and provide indemnification to certain current and former officers and directors of the Company. The Company has also incurred expenses as a result of costs arising from the investigation of the claims alleged in the various demands. Following the Company’s receipt of the Derivative Claims, it entered into a series of tolling agreements with the shareholders from whom it received demands (the “Demand Shareholders”). The last of these tolling agreements ended in March of 2017. On October 13, 2017, one of the Demand Shareholders filed an action in the United States District Court for the Middle District of Florida, styled Molloy v. Boynton, et al., Civil Action No. 3:17-cv-01157-TJC-MCR (the “Derivative Lawsuit”). The complaint alleged breaches of fiduciary duties and unjust enrichment and named as defendants certain former officers and directors of Rayonier (the former officers and directors named as defendants are collectively the “Individual Defendants”). In November 2017, the parties reached an agreement to resolve all claims brought in the Derivative Lawsuit and agreed to negotiate in good faith regarding the amount of attorneys’ fees and expenses to be paid to the Demand Shareholders’ counsel, subject to court approval. The parties executed a term sheet on November 27, 2017, and agreed to schedule a mediation regarding the amount of attorneys’ fees and expenses. On December 6, 2017, the Court entered an order staying the case, directing that the case be administratively closed, and ordering the parties to file a joint status report with the Court not later than March 15, 2018. At mediation on March 13, 2018, the parties reached an agreement in principle to settle the case and amended the term sheet to memorialize such agreement (the “Settlement”). On April 17, 2018, Plaintiff sought preliminary approval of the Settlement from the Court. Pursuant to the terms of the Settlement, the Company agreed to certain governance reforms and to cause certain of its directors’ and officers’ liability insurance carriers to fund a settlement payment for the Demand Shareholders’ attorneys’ fees and expenses as well as incentive awards to the Demand Shareholders in the aggregate amount of $1.995 million . On August 17, 2018, the Court granted preliminary approval, established notice requirements and scheduled the final hearing as to approval of the Settlement. On November 2, 2018, the granted final approval and dismissed the case with prejudice. Following the dismissal, Rayonier’s insurance carriers made timely payment as required by the Settlement. The period allowed to file an appeal of the Court’s dismissal of the case expired on December 3, 2018, and no timely appeal was filed.

Guarantees

Guarantees	12 Months Ended
	Dec. 31, 2018
Guarantees [Abstract]
Guarantees	GUARANTEES The Company provides financial guarantees as required by creditors, insurance programs, and various governmental agencies. As of December 31, 2018 , the following financial guarantees were outstanding: Financial Commitments Maximum Potential Payment Carrying Amount of Liability Standby letters of credit (a) $10,176 — Guarantees (b) 2,254 43 Surety bonds (c) 3,185 — Total financial commitments $15,615 $43 (a) Approximately $9.2 million of the standby letters of credit serve as credit support for infrastructure at the Company’s Wildlight development project. The remaining letters of credit support various insurance related agreements, primarily workers’ compensation. These letters of credit will expire at various dates during 2019 and will be renewed as required. (b) In conjunction with a timberland sale and note monetization in 2004, the Company issued a make-whole agreement pursuant to which it guaranteed $2.3 million of obligations of a special-purpose entity that was established to complete the monetization. At December 31, 2018 , the Company has recorded a de minimis liability to reflect the fair market value of its obligation to perform under the make-whole agreement. (c)

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Common Share	EARNINGS PER COMMON SHARE Basic earnings per share (“EPS”) is calculated by dividing net income attributable to Rayonier by the weighted average number of common shares outstanding during the year. Diluted EPS is calculated by dividing net income attributable to Rayonier by the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of outstanding stock options, performance shares, restricted shares and convertible debt. The following table provides details of the calculation of basic and diluted EPS for the three years ended December 31 : 2018 2017 2016 Net Income $117,330 $161,579 $217,770 Less: Net income attributable to noncontrolling interest (15,114 ) (12,737 ) (5,798 ) Net income attributable to Rayonier Inc. $102,216 $148,842 $211,972 Shares used for determining basic earnings per common share 129,043,627 127,367,608 122,585,200 Dilutive effect of: Stock options 71,276 91,956 92,473 Performance and restricted shares 575,328 350,385 134,650 Shares used for determining diluted earnings per common share 129,690,231 127,809,949 122,812,323 Basic earnings per common share attributable to Rayonier Inc.: $0.79 $1.17 $1.73 Diluted earnings per common share attributable to Rayonier Inc.: $0.79 $1.16 $1.73 2018 2017 2016 Anti-dilutive shares excluded from computations of diluted earnings per share: Stock options, performance and restricted shares 254,282 596,061 829,469

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES The Company is exposed to market risk related to potential fluctuations in foreign currency exchange rates and interest rates. The Company uses derivative financial instruments to mitigate the financial impact of exposure to these risks. The Company also uses derivative financial instruments to mitigate exposure to foreign currency risk due to the translation of the investment in Rayonier’s New Zealand-based operations from New Zealand dollars to U.S. dollars. Accounting for derivative financial instruments is governed by Accounting Standards Codification Topic 815, Derivatives and Hedging, (“ASC 815”). In accordance with ASC 815, the Company records its 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 Company’s investment in its New Zealand operations is partially or completely liquidated. The ineffective portion of any hedge, 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. The Company's hedge ineffectiveness was de minimis for all periods presented. FOREIGN CURRENCY EXCHANGE AND OPTION CONTRACTS The functional currency of Rayonier’s wholly-owned subsidiary, Rayonier New Zealand Limited, and the New Zealand subsidiary is the New Zealand dollar. The New Zealand subsidiary is exposed to foreign currency risk on export sales and ocean freight payments which are mainly denominated in U.S. dollars. The New Zealand subsidiary typically hedges 35% to 90% of its estimated foreign currency exposure with respect to the following three months forecasted sales and purchases, 25% to 75% of its forecasted sales and purchases for the forward three to 12 months and up to 50% of the forward 12 to 18 months. Foreign currency exposure from the New Zealand subsidiary’s trading operations is typically hedged based on the following three months forecasted sales and purchases. As of December 31, 2018 , foreign currency exchange contracts and foreign currency option contracts had maturity dates through December 2019 and February 2020, respectively. Foreign currency exchange and option contracts hedging foreign currency risk on export sales and ocean freight payments qualify for cash flow hedge accounting. 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. The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black-Scholes option pricing model. The Company may de-designate 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 AOCI for de-designated hedges remains in AOCI until the forecasted transaction affects earnings. Changes in the value of derivative instruments after de-designation are recorded in earnings. Through our ownership in the New Zealand subsidiary, the Company is exposed to foreign currency risk on shareholder distribution payments which are denominated in N.Z. dollars. On behalf of the Company, the New Zealand subsidiary typically hedges 60% to 100% of its estimated foreign currency exposure with respect to the following three months forecasted distributions, up to 75% of forecasted distributions for the forward three to six months and up to 50% of the forward six to 12 months . For the years ended December 31, 2018 and 2017 , the change in fair value of the foreign exchange forward contracts of $2.2 million and $0.1 million was recorded in “Interest income and miscellaneous income (expense), net” as the contracts did not qualify for hedge accounting treatment. As of December 31, 2018 , foreign exchange forward contracts had maturity dates through March 2019 . In March 2018, the Company entered into a foreign currency exchange contract (notional amount of NZ $37 million ) to mitigate the risk of fluctuations in foreign currency exchange rates when translating the New Zealand subsidiary’s balance sheet to U.S. dollars. This contract hedged the cash portion of the Company’s net investment in New Zealand and qualified as a net investment hedge. The fair value of this contract was 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. This hedge qualified for hedge accounting whereby fluctuations in fair market value during the life of the hedge are recorded in AOCI and remain there permanently unless a partial or full liquidation of the investment is made. At each reporting period, the Company reviewed the hedge for ineffectiveness. In April 2018, the foreign currency exchange contract matured and the Company repatriated the cash. The Company did not have any ineffectiveness during the life of the hedge. INTEREST RATE SWAPS The Company is exposed to cash flow interest rate risk on its variable-rate Term Credit Agreement and Incremental Term Loan (as discussed below), and uses variable-to-fixed interest rate swaps to hedge this exposure. For these derivative instruments, the Company reports the gains/losses from the fluctuations in the fair market value of the hedges in AOCI and reclassifies them to earnings as interest expense in the same period in which the hedged interest payments affect earnings. For additional information on the Company’s interest rate swaps see Note 5 — Debt . The following table contains information on the outstanding interest rate swaps as of December 31, 2018 : 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 % 1.63 % 3.83 % August 2015 9 years 180,000 Term Credit Agreement 2.35 % 1.63 % 3.98 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.90 % 3.50 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.90 % 3.50 % July 2016 10 years 100,000 Incremental Term Loan 1.26 % 1.90 % 3.16 % (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. CARBON OPTIONS The New Zealand subsidiary enters into carbon options from time to time to sell carbon assets at certain prices. The fair value of carbon options is determined by a mark-to-market valuation using the Black-Scholes option pricing model, 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. For the year ended December 31, 2018 , the change in fair value of the carbon option contracts of $0.2 million was recorded as a loss in “Interest and other miscellaneous income, net” as the contracts did not qualify for hedge accounting treatment. As of December 31, 2018 , carbon option contracts had maturity dates through March 2019. The following table demonstrates the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2018 , 2017 and 2016 . Location on Statement of Income and Comprehensive Income 2018 2017 2016 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive income (loss) ($4,357 ) $2,100 $867 Foreign currency option contracts Other comprehensive income (loss) (180 ) (52 ) 1,035 Interest rate swaps Other comprehensive income (loss) 8,296 4,214 21,422 Derivatives designated as a net investment hedge: Foreign currency exchange contract Other comprehensive income (loss) (344 ) — — Foreign currency option contracts Other comprehensive income (loss) — — (4,606 ) Derivatives not designated as hedging instruments: Foreign currency exchange contracts Other operating income, net — — 895 Interest income and miscellaneous income (expense), net 2,183 47 — Foreign currency option contracts Other operating income, net — — 258 Carbon options Interest income and miscellaneous income (expense), net (158 ) — — Interest rate swaps Interest income and miscellaneous income (expense), net — — (1,219 ) During the next 12 months, the amount of the December 31, 2018 AOCI balance, net of tax, expected to be reclassified into earnings as a result of the maturation of the Company’s derivative instruments is a loss of approximately $1.1 million . The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2018 and 2017 : Notional Amount 2018 2017 Derivatives designated as cash flow hedges: Foreign currency exchange contracts $69,950 $107,400 Foreign currency option contracts 24,000 48,000 Interest rate swaps 650,000 650,000 Derivatives not designated as hedging instruments: Foreign currency exchange contracts 9,396 18,439 Carbon options (a) 2,517 — (a) Notional amount for carbon options is calculated as the number of units outstanding multiplied by the spot price as of December 31, 2018 . The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2018 and 2017 . Changes in balances of derivative financial instruments are recorded as operating activities in the Consolidated Statements of Cash Flows: Fair Value Assets (Liabilities) (a) Location on Balance Sheet 2018 2017 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other current assets — $2,286 Other assets — 538 Other current liabilities (1,569 ) (37 ) Foreign currency option contracts Other current assets 217 389 Other assets 102 137 Other current liabilities (106 ) (119 ) Other non-current liabilities (68 ) (55 ) Interest rate swaps Other assets 23,735 17,473 Other non-current liabilities — (2,033 ) Derivatives not designated as hedging instruments: Foreign currency exchange contracts Other current assets 152 209 Other current liabilities (24 ) (189 ) Carbon options (a) Other current liabilities (322 ) — Total derivative contracts: Other current assets $369 $2,884 Other assets 23,837 18,148 Total derivative assets $24,206 $21,032 Other current liabilities (2,021 ) (345 ) Other non-current liabilities (68 ) (2,088 ) Total derivative liabilities ($2,089 ) ($2,433 ) (a) See Note 14 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy. OFFSETTING DERIVATIVES

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
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 financial instruments held by the Company at December 31, 2018 and 2017 , using market information and what the Company believes to be appropriate valuation methodologies under generally accepted accounting principles: December 31, 2018 December 31, 2017 Asset (liability) (a) Carrying Amount Fair Value Carrying Amount Fair Value Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents $148,374 $148,374 — $112,653 $112,653 — Restricted cash (b) 8,080 8,080 — 59,703 59,703 — Current maturities of long-term debt — — — (3,375 ) — (3,375 ) Long-term debt (c) (972,567 ) — (975,845 ) (1,022,004 ) — (1,030,135 ) Interest rate swaps (d) 23,735 — 23,735 15,440 — 15,440 Foreign currency exchange contracts (d) (1,442 ) — (1,442 ) 2,807 — 2,807 Foreign currency option contracts (d) 145 — 145 352 — 352 Carbon options contracts (d) (322 ) — (322 ) — — — (a) The Company did not have Level 3 assets or liabilities at December 31, 2018 and 2017 . (b) Restricted cash represents the proceeds from like-kind exchange sales deposited with a third-party intermediary and cash held in escrow for a real estate sale. See Note 19 - Restricted Cash for additional information. (c) The carrying amount of long-term debt is presented net of capitalized debt costs on non-revolving debt. See Note 5 — Debt for additional information. (d) See Note 13 — Derivative Financial Instruments and Hedging Activities for information regarding the Balance Sheet classification of the Company’s derivative financial instruments. Rayonier uses the following methods and assumptions in estimating the fair value of its 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. Carbon option contracts

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS The Company has one qualified non-contributory defined benefit pension plan covering a portion of its employees and an unfunded plan that provides benefits in excess of amounts allowable under current tax law in the qualified plans. The Company closed enrollment in its pension plans to salaried employees hired after December 31, 2005. Effective December 31, 2016, the Company froze benefits for all employees participating in the pension plan. In lieu of the pension plan, the Company provides 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. The following tables set forth the change in the projected benefit obligation and plan assets and reconcile the funded status and the amounts recognized in the Consolidated Balance Sheets for the pension and postretirement benefit plans for the two years ended December 31: Pension Postretirement 2018 2017 2018 2017 Change in Projected Benefit Obligation Projected benefit obligation at beginning of year $87,986 $81,752 $1,420 $1,285 Service cost — — 7 6 Interest cost 3,021 3,259 38 53 Actuarial (gain) loss (8,160 ) 6,123 (149 ) 89 Benefits paid (3,288 ) (3,148 ) (13 ) (13 ) Projected benefit obligation at end of year $79,559 $87,986 $1,303 $1,420 Change in Plan Assets Fair value of plan assets at beginning of year $57,377 $51,114 — — Actual return on plan assets (4,638 ) 9,909 — — Employer contributions 2,829 90 13 13 Benefits paid (4,002 ) (3,148 ) (13 ) (13 ) Other expense (617 ) (588 ) — — Fair value of plan assets at end of year $50,949 $57,377 — — Funded Status at End of Year: Net accrued benefit cost ($28,610 ) ($30,609 ) ($1,303 ) ($1,420 ) Amounts Recognized in the Consolidated Balance Sheets Consist of: Current liabilities ($86 ) ($92 ) ($27 ) ($32 ) Noncurrent liabilities (28,524 ) (30,517 ) (1,276 ) (1,388 ) Net amount recognized ($28,610 ) ($30,609 ) ($1,303 ) ($1,420 ) Net gains or losses recognized in other comprehensive income for the three years ended December 31 are as follows: Pension Postretirement 2018 2017 2016 2018 2017 2016 Net (losses) gains ($1,743 ) ($583 ) $3,119 $149 ($89 ) ($99 ) Net gains or losses and prior service costs or credits reclassified from other comprehensive income and recognized as a component of pension and postretirement expense for the three years ended December 31 are as follows: Pension Postretirement 2018 2017 2016 2018 2017 2016 Amortization of losses (gains) $673 $466 $2,526 $2 ($1 ) ($13 ) Amortization of prior service cost — — — — — — Net losses that have not yet been included in pension and postretirement expense for the two years ended December 31, which have been recognized as a component of AOCI are as follows: Pension Postretirement 2018 2017 2018 2017 Net (losses) gains ($23,252 ) ($22,183 ) ($7 ) ($157 ) Deferred income tax benefit 1,216 1,927 6 6 AOCI ($22,036 ) ($20,256 ) ($1 ) ($151 ) For pension and postretirement plans with accumulated benefit obligations in excess of plan assets, the following table sets forth the projected and accumulated benefit obligations and the fair value of plan assets for the two years ended December 31: 2018 2017 Projected benefit obligation $79,559 $87,986 Accumulated benefit obligation 79,559 87,986 Fair value of plan assets 50,949 57,377 The following tables set forth the components of net pension and postretirement benefit (credit) cost that have been recognized during the three years ended December 31 : Pension Postretirement 2018 2017 2016 2018 2017 2016 Components of Net Periodic Benefit (Credit) Cost Service cost — — $1,307 $7 $6 $4 Interest cost 3,021 3,259 3,474 38 53 42 Expected return on plan assets (3,934 ) (3,781 ) (4,030 ) — — — Amortization of prior service cost — — — — — — Amortization of losses (gains) 673 466 2,526 2 (1 ) (13 ) Net periodic benefit (credit) cost ($240 ) ($56 ) $3,277 $47 $58 $33 The estimated pre-tax amounts that will be amortized from AOCI into net periodic benefit cost in 2019 are as follows: Pension Postretirement Amortization of loss $633 — The following table sets forth the principal assumptions inherent in the determination of benefit obligations and net periodic benefit cost of the pension and postretirement benefit plans as of December 31 : Pension Postretirement 2018 2017 2016 2018 2017 2016 Assumptions used to determine benefit obligations at December 31: Discount rate 4.11 % 3.48 % 4.01 % 4.18 % 3.56 % 4.12 % Rate of compensation increase — — 4.16 % 4.50 % 4.50 % 4.50 % Assumptions used to determine net periodic benefit cost for years ended December 31: Discount rate 3.48 % 4.01 % 4.20 % 3.56 % 4.12 % 4.34 % Expected long-term return on plan assets 7.17 % 7.17 % 7.70 % — — — Rate of compensation increase — — 4.16 % 4.50 % 4.50 % 4.50 % At December 31, 2018 , the pension plan’s discount rate was 4.1% , which closely approximates interest rates on high quality, long-term obligations. In 2018 , the expected return on plan assets remained at 7.2% , which is based on historical and expected long-term rates of return on broad equity and bond indices and consideration of the actual annualized rate of return. The Company utilizes this information in developing assumptions for returns, and risks and correlation of asset classes, which are then used to establish the asset allocation ranges. INVESTMENT OF PLAN ASSETS The Company’s pension plans’ asset allocation (excluding short-term investments) at December 31, 2018 and 2017 , and target allocation ranges by asset category are as follows: Percentage of Plan Assets Target Allocation Range Asset Category 2018 2017 Domestic equity securities 39 % 41 % 35-45% International equity securities 28 % 26 % 20-30% Domestic fixed income securities 26 % 26 % 25-29% International fixed income securities 5 % 4 % 3-7% Real estate fund 2 % 3 % 2-4% Total 100 % 100 % The Company’s Pension and Savings Plan Committee and the Audit Committee of the Board of Directors oversee the pension plans’ investment program which is designed to maximize returns and provide sufficient liquidity to meet plan obligations while maintaining acceptable risk levels. The investment approach emphasizes diversification by allocating the plans’ assets among asset categories and selecting investment managers whose various investment methodologies will be minimally correlative with each other. Investments within the equity categories may include large capitalization, small capitalization and emerging market securities, while the international fixed income portfolio may include emerging markets debt. Pension assets did not include a direct investment in Rayonier common shares at December 31, 2018 or 2017 . FAIR VALUE MEASUREMENTS The following table sets forth by level, within the fair value hierarchy (see Note 1 — Summary of Significant Accounting Policies for definition), the assets of the plans as of December 31, 2018 and 2017 . Fair Value at December 31, 2018 Fair Value at December 31, 2017 Asset Category Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investments at Fair Value: Mutual Funds — — — — $8,986 — — $8,986 Investments at Net Asset Value: Separate Investment Accounts 50,949 48,391 Total Investments at Fair Value $50,949 $57,377 The valuation methodology used for measuring the fair value of these asset categories was as follows: Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the plan are open-end mutual funds that are registered with the U.S. Securities and Exchange Commission. These funds are required to publish their daily net asset value and to transact at that price. The mutual funds held by the plan are deemed to be actively traded and to be Level 1 investments. Separate investment accounts are measured using the unit value calculated based on the Net Asset Value (“NAV”) of the underlying assets. The NAV is based on the fair value of the underlying investments held by each fund less liabilities divided by the units outstanding as of the valuation date. These funds are not publicly traded; however, the unit price calculation is based on observable market inputs of the funds’ underlying assets. The Company did not have Level 2 or Level 3 assets at December 31, 2018 and 2017. CASH FLOWS Expected benefit payments to be made by the Company for the next 10 years are as follows: Pension Benefits Postretirement Benefits 2019 $3,512 $36 2020 3,717 38 2021 3,836 41 2022 4,035 44 2023 4,114 47 2024-2028 22,167 278 The Company has approximately $1.4 million of pension contribution requirements in 2019. DEFINED CONTRIBUTION PLANS The Company provides a defined contribution plan to all of its employees. Company match contributions charged to expense for these plans were $0.9 million , $0.8 million and $0.7 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The defined contribution plan includes Rayonier common shares with a fair market value of $9.7 million and $12.3 million at December 31, 2018 and 2017 , respectively. As of June 1, 2016, the Rayonier Inc. Common Stock Fund was closed to new contributions. Transfers out of the fund will continue to be permitted, but no new investments or transfers into the fund are allowed. As discussed above, the defined benefit pension plan is currently frozen. In lieu of the pension plan, employees are eligible to receive an enhanced match contribution. Company enhanced match contributions charged to expense for the years ended December 31, 2018 , 2017 and 2016 were $0.8 million , $0.8 million and $0.5 million

Incentive Stock Plans

Incentive Stock Plans	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Incentive Stock Plans	INCENTIVE STOCK PLANS The Rayonier Incentive Stock Plan (the “Stock Plan”) provides up to 15.8 million shares to be granted for incentive stock options, non-qualified stock options, stock appreciation rights, performance shares, restricted stock and restricted stock units, subject to certain limitations. At December 31, 2018 , a total of 4.5 million shares were available for future grants under the Stock Plan. Under the Stock Plan, shares available for issuance are reduced by 1 share for each option or right granted and by 2.27 shares for each performance share, restricted share or restricted stock unit granted. The Company issues new shares of stock upon the exercise of stock options, the granting of restricted stock, and the vesting of performance shares. A summary of the Company’s stock-based compensation cost is presented below: 2018 2017 2016 Selling and general expenses $5,623 $4,784 $4,607 Cost of sales 704 556 487 Timber and Timberlands, net (a) 101 56 42 Total stock-based compensation $6,428 $5,396 $5,136 Tax benefit recognized related to stock-based compensation expense (b) $338 $249 $483 (a) Represents amounts capitalized as part of the overhead allocation of timber-related costs. (b) A valuation allowance is recorded against the tax benefit recognized as the Company does not expect to be able to realize the benefit in the future. FAIR VALUE CALCULATIONS BY AWARD RESTRICTED STOCK Restricted stock granted to employees under the Stock Plan generally vests in fourths on the first, second, third and fourth anniversary of the grant date. Restricted stock granted to senior management generally vests in thirds on the third, fourth, and fifth anniversary of the grant date. Periodically, other one-time restricted stock grants are issued to employees for special purposes, such as new hire, promotion or retention, and can vest ratably over, or upon completion of, a defined period of time. Generally, holders of restricted stock receive dividend equivalent payments on outstanding restricted shares. Restricted stock granted to members of the board of directors generally vests immediately upon issuance and is subject to certain holding requirements. The fair value of each share granted is equal to the share price of the Company’s stock on the date of grant. Rayonier has elected to value each grant in total and recognize the expense on a straight-line basis from the grant date of the award to the latest vesting date. As of December 31, 2018 , there was $4.6 million of unrecognized compensation cost solely attributable to Rayonier restricted stock held by Rayonier employees. The Company expects to recognize this cost over a weighted average period of 2.9 years . A summary of the Company’s restricted shares is presented below: 2018 2017 2016 Restricted shares granted 87,924 97,643 106,326 Weighted average price of restricted shares granted $35.44 $28.18 $25.08 Intrinsic value of restricted stock outstanding (a) 8,792 8,906 6,177 Grant date fair value of restricted stock vested 1,582 1,198 2,248 Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on restricted shares vested $334 $176 $178 (a) Intrinsic value of restricted stock outstanding is based on the market price of the Company’s stock at December 31, 2018 . 2018 Number of Shares Weighted Average Grant Date Fair Value Non-vested Restricted Shares at January 1, 281,569 $29.32 Granted 87,924 35.44 Vested (49,780 ) 31.78 Cancelled (2,214 ) 28.16 Non-vested Restricted Shares at December 31, 317,499 $30.64 PERFORMANCE SHARES UNITS The Company’s performance share units generally vest upon completion of a three-year period. The number of shares, if any, that are ultimately awarded is contingent upon Rayonier’s total shareholder return versus selected peer group companies. The performance share payout is based on a market condition and as such, the awards are valued using a Monte Carlo simulation model. The model generates the fair value of the award at the grant date, which is then recognized as expense on a straight-line basis over the vesting period. The Stock Plan allows for the cash settlement of the minimum required withholding tax on performance share unit awards. As of December 31, 2018 , there was $5.0 million of unrecognized compensation cost related to the Company’s performance share unit awards, which is solely attributable to awards granted in 2016, 2017 and 2018 to Rayonier employees. This cost is expected to be recognized over a weighted average period of 1.8 years . A summary of the Company’s performance share units is presented below: 2018 2017 2016 Common shares reserved for performance shares granted during year 213,154 226,448 250,584 Weighted average fair value of performance share units granted $40.27 $32.17 $28.79 Intrinsic value of outstanding performance share units (a) 9,229 10,414 7,482 Fair value of performance shares vested 5,670 — — Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on performance shares vested 2,651 — — (a) Intrinsic value of outstanding performance share units is based on the market price of the Company's stock at December 31, 2018 . 2018 Number of Units Weighted Average Grant Date Fair Value Outstanding Performance Share units at January 1, 329,239 $30.21 Granted 106,577 40.27 Units Distributed (102,523 ) 29.62 Other Cancellations/Adjustments (11 ) 30.24 Outstanding Performance Share units at December 31, 333,282 $33.60 Expected volatility was estimated using daily returns on the Company’s common shares for the three-year period ending on the grant date. The risk-free rate was based on the 3-year U.S. treasury rate on the date of the award. The dividend yield was not used to calculate fair value as awards granted receive dividend equivalents. The following table provides an overview of the assumptions used in calculating the fair value of the awards granted for the three years ended December 31, 2018 : 2018 2017 2016 Expected volatility 20.8 % 23.3 % 25.4 % Risk-free rate 2.4 % 1.5 % 0.9 % NON-QUALIFIED EMPLOYEE STOCK OPTIONS The exercise price of each non-qualified stock option granted under the Stock Plan is equal to the closing market price of the Company’s stock on the grant date. Under the Stock Plan, the maximum term is 10 years from the grant date. A summary of the status of the Company’s stock options as of and for the year ended December 31, 2018 is presented below. 2018 Number of Shares Weighted Average Exercise Price (per common share) Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Options outstanding at January 1, 841,066 $30.13 Granted — — Exercised (322,913 ) 26.61 Cancelled or expired (8,031 ) 34.32 Options outstanding at December 31, 510,122 32.29 3.6 $392 Options exercisable at December 31, 510,122 $32.29 3.6 $392 A summary of additional information pertaining to the Company’s stock options is presented below: 2018 2017 2016 Intrinsic value of options exercised (a) $2,618 $1,993 $539 Fair value of options vested 6,832 6,138 1,317 Cash received from exercise of options 8,591 4,751 1,576 (a) Intrinsic value of options exercised is the amount by which the fair value of the stock on the exercise date exceeded the exercise price of the option. As of December 31, 2018

Other Operating Income, Net

Other Operating Income, Net	12 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
Other Operating Income, Net	OTHER OPERATING INCOME, NET The following table provides the composition of Other operating income, net for the three years ended December 31 : 2018 2017 2016 Foreign currency (loss) income $238 ($394 ) $283 Gain (loss) on sale or disposal of property plant & equipment 7 (68 ) 85 Gain (loss) on foreign currency exchange and option contracts 132 3,438 (645 ) Gain on foreign currency derivatives (a) — — 1,153 Income from sale of unused Internet Protocol addresses 646 — — Log trading marketing fees 286 1,222 951 Income from New Zealand Timber settlement — 420 — Deferred payments related to prior land sales — — 8,658 Costs related to business combination — — (1,316 ) Miscellaneous expense, net (169 ) (225 ) (83 ) Total $1,140 $4,393 $9,086 (a)

Inventory

Inventory	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventory	INVENTORY As of December 31, 2018 and 2017 , Rayonier’s inventory was solely comprised of finished goods, as follows: 2018 2017 Finished goods inventory Real estate inventory (a) $11,919 $18,350 Log inventory 3,784 5,791 Total inventory $15,703 $24,141 (a) Represents cost of HBU real estate (including capitalized development investments) expected to be sold within 12 months. See Note 6 — Higher and Better Use Timberlands and Real Estate Development Investments

Restricted Cash

Restricted Cash	12 Months Ended
	Dec. 31, 2018
Restricted Cash and Investments [Abstract]
Restricted Cash	RESTRICTED CASH In order to qualify for like-kind exchange (“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 that the LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. As of December 31, 2018 and 2017 , the Company had $8.1 million and $59.7 million , respectively, of proceeds from real estate sales classified as restricted cash which were deposited with an LKE intermediary as well as cash held in escrow for a real estate sale. The following table contains the amount of restricted cash recorded in the Consolidated Balance Sheets and Consolidated Statements of Cash Flows for the years ended December 31: 2018 2017 Restricted cash deposited with LKE intermediary $7,530 $59,153 Restricted cash held in escrow 550 550 Total restricted cash shown in the Consolidated Balance Sheets 8,080 59,703 Cash and cash equivalents 148,374 112,653 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $156,454 $172,356

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2018
Other Assets [Abstract]
Other Assets	OTHER ASSETS Included in Other Assets are derivatives, goodwill in the New Zealand subsidiary, long-term prepaid roads, and other deferred expenses including deferred financing costs related to revolving debt and capitalized software costs. See Note 13 — Derivative Financial Instruments and Hedging Activities for further information on derivatives including their classification on the Consolidated Balance Sheets. Changes in goodwill for the years ended December 31, 2018 and 2017 were: 2018 2017 Balance, January 1 (net of $0 of accumulated impairment) $8,776 $8,679 Changes to carrying amount Acquisitions — — Impairment — — Foreign currency adjustment (469 ) 97 Balance, December 31 (net of $0 of accumulated impairment) $8,307 $8,776 See Note 1 — Summary of Significant Accounting Policies for additional information on goodwill. As of December 31, 2018 and 2017 , Rayonier’s prepaid logging and secondary roads follows: 2018 2017 Long-term and prepaid and secondary roads Pacific Northwest long-term prepaid roads $4,000 $3,696 New Zealand long-term secondary roads 3,072 2,667 Total long-term prepaid and secondary roads $7,072 $6,363 See Note 1 — Summary of Significant Accounting Policies for additional information on prepaid logging roads. As of December 31, 2018 and 2017 , Rayonier’s deferred financing costs related to revolving debt follows: 2018 2017 Deferred financing costs related to revolving debt $213 $341 See Note 1 — Summary of Significant Accounting Policies for additional information on deferred financing costs related to revolving debt. As of December 31, 2018 and 2017 , Rayonier’s capitalized software costs follows: 2018 2017 Capitalized software costs $3,776 $4,092 See Note 1 — Summary of Significant Accounting Policies

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income/(Loss)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Accumulated Other Comprehensive Income/(Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The following table summarizes the changes in AOCI by component for the years ended December 31, 2018 and 2017 . All amounts are presented net of tax effect and exclude portions attributable to noncontrolling interest. Foreign currency translation gains/(losses) Net investment hedges of New Zealand JV Cash flow hedges Employee benefit plans Total Balance as of December 31, 2016 $8,559 $1,665 $10,831 ($20,199 ) $856 Other comprehensive income/(loss) before reclassifications 7,416 — 7,321 (673 ) 14,064 Amounts reclassified from accumulated other comprehensive income — — (1,968 ) 465 (1,503 ) Net other comprehensive income/(loss) 7,416 — 5,353 (208 ) 12,561 Balance as of December 31, 2017 $15,975 $1,665 $16,184 ($20,407 ) $13,417 Other comprehensive (loss)/income before reclassifications (16,985 ) (344 ) 5,944 (a) (1,594 ) (12,979 ) Amounts reclassified from accumulated other comprehensive income — — (163 ) (36 ) (b) (199 ) Net other comprehensive (loss)/income (16,985 ) (344 ) 5,781 (1,630 ) (13,178 ) Balance as of December 31, 2018 ($1,010 ) $1,321 $21,965 ($22,037 ) $239 (a) Includes $8.3 million of other comprehensive gain related to interest rate swaps. See Note 13 — Derivative Financial Instruments and Hedging Activities for additional information. (b) This component of other comprehensive income is included in the computation of net periodic pension cost. See Note 15 — Employee Benefit Plans for additional information. Additionally, this component includes a $0.7 million adjustment related to the adoption of ASU 2018-02. See Note 1 — Summary of Significant Accounting Policies The following table presents details of the amounts reclassified in their entirety from AOCI for the years ended December 31, 2018 and 2017 : Details about accumulated other comprehensive income (loss) components Amount reclassified from accumulated other comprehensive income (loss) Affected line item in the income statement 2018 2017 Realized (gain) loss on foreign currency exchange contracts ($121 ) ($2,631 ) Other operating income, net Realized (gain) loss on foreign currency option contracts (173 ) (919 ) Other operating income, net Noncontrolling interest 68 817 Comprehensive income (loss) attributable to noncontrolling interest Income tax expense (benefit) from foreign currency contracts 63 765 Income tax expense benefit (Note 9) Net (gain) loss on cash flow hedges reclassified from accumulated other comprehensive income ($163 ) ($1,968 )

Quarterly Results for 2018 and

Quarterly Results for 2018 and 2017 (UNAUDITED)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results for 2018 and 2017 (UNAUDITED)	QUARTERLY RESULTS FOR 2018 and 2017 (UNAUDITED) Quarter Ended Total Year (thousands of dollars, except per share amounts) Mar. 31 June 30 Sept. 30 Dec. 31 2018 Sales $203,196 $245,906 $200,890 $166,146 $816,138 Cost of sales (138,488 ) (184,418 ) (143,261 ) (139,092 ) (605,259 ) Net Income 42,706 39,338 30,639 4,647 117,330 Net Income attributable to Rayonier Inc. 40,539 36,258 23,432 1,987 102,216 Basic EPS attributable to Rayonier Inc. $0.31 $0.28 $0.18 $0.02 $0.79 Diluted EPS attributable to Rayonier Inc. $0.31 $0.28 $0.18 $0.02 $0.79 2017 Sales $194,491 $200,964 $184,419 $239,722 $819,596 Cost of sales (136,828 ) (144,610 ) (136,983 ) (149,832 ) (568,253 ) Net Income 35,083 30,773 28,803 66,920 161,579 Net Income attributable to Rayonier Inc. 33,843 26,161 24,688 64,150 148,842 Basic EPS attributable to Rayonier Inc. $0.27 $0.20 $0.19 $0.50 $1.17 Diluted EPS attributable to Rayonier Inc. $0.27 $0.20 $0.19 $0.50 $1.16

Consolidating Financial Stateme

Consolidating Financial Statements	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Consolidating Financial Statements	CONSOLIDATING FINANCIAL STATEMENTS The condensed consolidating financial information below follows the same accounting policies as described in the consolidated financial statements, except for the use of the equity method of accounting to reflect ownership interests in wholly-owned subsidiaries, which are eliminated upon consolidation, and the allocation of certain expenses of Rayonier Inc. incurred for the benefit of its subsidiaries. In March 2012, Rayonier Inc. issued $325 million of 3.75% Senior Notes due 2022. In connection with these notes, the Company provides the following condensed consolidating financial information in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered . The subsidiary guarantors, Rayonier Operating Company LLC (“ROC”) and Rayonier TRS Holdings Inc., are wholly-owned by the parent company, Rayonier Inc. The notes are fully and unconditionally guaranteed on a joint and several basis by the guarantor subsidiaries. CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated SALES — — $816,138 — $816,138 Costs and Expenses Cost of sales — — (605,259 ) — (605,259 ) Selling and general expenses — (19,812 ) (22,139 ) — (41,951 ) Other operating (expense) income, net (12 ) 543 609 — 1,140 (12 ) (19,269 ) (626,789 ) — (646,070 ) OPERATING (LOSS) INCOME (12 ) (19,269 ) 189,349 — 170,068 Interest expense (12,556 ) (19,155 ) (355 ) — (32,066 ) Interest and miscellaneous income (expense), net 6,648 3,863 (5,947 ) — 4,564 Equity in income from subsidiaries 108,136 144,916 — (253,052 ) — INCOME BEFORE INCOME TAXES 102,216 110,355 183,047 (253,052 ) 142,566 Income tax expense — (2,219 ) (23,017 ) — (25,236 ) NET INCOME 102,216 108,136 160,030 (253,052 ) 117,330 Less: Net income attributable to noncontrolling interest — — (15,114 ) — (15,114 ) NET INCOME ATTRIBUTABLE TO RAYONIER INC. 102,216 108,136 144,916 (253,052 ) 102,216 OTHER COMPREHENSIVE (LOSS) INCOME Foreign currency translation adjustment, net of income tax (17,329 ) 386 (23,145 ) 17,329 (22,759 ) Cash flow hedges, net of income tax 5,782 8,296 (3,267 ) (5,782 ) 5,029 Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax (1,630 ) (1,630 ) — 1,630 (1,630 ) Total other comprehensive (loss) income (13,177 ) 7,052 (26,412 ) 13,177 (19,360 ) COMPREHENSIVE INCOME 89,039 115,188 133,618 (239,875 ) 97,970 Less: Comprehensive income attributable to noncontrolling interest — — (8,931 ) — (8,931 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $89,039 $115,188 $124,687 ($239,875 ) $89,039 CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated SALES — — $819,596 — $819,596 Costs and Expenses Cost of sales — — (568,253 ) — (568,253 ) Selling and general expenses — (16,797 ) (23,448 ) — (40,245 ) Other operating (expense) income, net — (479 ) 4,872 — 4,393 — (17,276 ) (586,829 ) — (604,105 ) OPERATING (LOSS) INCOME — (17,276 ) 232,767 — 215,491 Interest expense (12,556 ) (19,699 ) (1,816 ) — (34,071 ) Interest and miscellaneous income (expense), net 9,679 2,878 (10,717 ) — 1,840 Equity in income from subsidiaries 151,719 186,388 — (338,107 ) — INCOME BEFORE INCOME TAXES 148,842 152,291 220,234 (338,107 ) 183,260 Income tax expense — (572 ) (21,109 ) — (21,681 ) NET INCOME 148,842 151,719 199,125 (338,107 ) 161,579 Less: Net income attributable to noncontrolling interest — — (12,737 ) — (12,737 ) NET INCOME ATTRIBUTABLE TO RAYONIER INC. 148,842 151,719 186,388 (338,107 ) 148,842 OTHER COMPREHENSIVE INCOME Foreign currency translation adjustment, net of income tax 7,416 — 9,114 (7,416 ) 9,114 Cash flow hedges, net of income tax 5,353 4,214 1,479 (5,353 ) 5,693 Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax (208 ) (208 ) — 208 (208 ) Total other comprehensive income 12,561 4,006 10,593 (12,561 ) 14,599 COMPREHENSIVE INCOME 161,403 155,725 209,718 (350,668 ) 176,178 Less: Comprehensive income attributable to noncontrolling interest — — (14,775 ) — (14,775 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $161,403 $155,725 $194,943 ($350,668 ) $161,403 CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated SALES — — $815,915 — $815,915 Costs and Expenses Cost of sales — — (526,439 ) — (526,439 ) Selling and general expenses — (15,253 ) (27,532 ) — (42,785 ) Other operating (expense) income, net — (448 ) 9,534 — 9,086 — (15,701 ) (544,437 ) — (560,138 ) OPERATING (LOSS) INCOME — (15,701 ) 271,478 — 255,777 Interest expense (12,555 ) (16,775 ) (2,915 ) — (32,245 ) Interest and miscellaneous income (expense), net 8,613 2,750 (12,061 ) — (698 ) Equity in income from subsidiaries 215,914 246,193 — (462,107 ) — INCOME BEFORE INCOME TAXES 211,972 216,467 256,502 (462,107 ) 222,834 Income tax expense — (553 ) (4,511 ) — (5,064 ) NET INCOME 211,972 215,914 251,991 (462,107 ) 217,770 Less: Net income attributable to noncontrolling interest — — (5,798 ) — (5,798 ) NET INCOME ATTRIBUTABLE TO RAYONIER INC. 211,972 215,914 246,193 (462,107 ) 211,972 OTHER COMPREHENSIVE INCOME Foreign currency translation adjustment, net of income tax 2,780 (4,606 ) 10,930 (2,782 ) 6,322 Cash flow hedges, net of income tax 22,607 21,422 1,401 (22,608 ) 22,822 Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax 5,533 5,533 — (5,533 ) 5,533 Total other comprehensive income 30,920 22,349 12,331 (30,923 ) 34,677 COMPREHENSIVE INCOME 242,892 238,263 264,322 (493,030 ) 252,447 Less: Comprehensive income attributable to noncontrolling interest — — (9,555 ) — (9,555 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $242,892 $238,263 $254,767 ($493,030 ) $242,892 CONDENSED CONSOLIDATING BALANCE SHEETS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents $361 $104,777 $43,236 — $148,374 Accounts receivable, less allowance for doubtful accounts — 3,752 22,399 — 26,151 Inventory — — 15,703 — 15,703 Prepaid logging roads — — 11,976 — 11,976 Prepaid expenses — 977 4,063 — 5,040 Other current assets — 108 501 — 609 Total current assets 361 109,614 97,878 — 207,853 TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION — — 2,401,327 — 2,401,327 HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS — — 85,609 — 85,609 NET PROPERTY, PLANT AND EQUIPMENT — 16,940 5,811 — 22,751 RESTRICTED CASH — — 8,080 — 8,080 INVESTMENT IN SUBSIDIARIES 1,833,899 3,022,875 — (4,856,774 ) — INTERCOMPANY RECEIVABLE 49,461 (638,424 ) 588,963 — — OTHER ASSETS 2 19,244 35,800 — 55,046 TOTAL ASSETS $1,883,723 $2,530,249 $3,223,468 ($4,856,774 ) $2,780,666 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable — $1,616 $16,403 — $18,019 Accrued taxes — 8 3,170 — 3,178 Accrued payroll and benefits — 5,848 4,568 — 10,416 Accrued interest 3,047 1,960 — — 5,007 Deferred revenue — — 10,447 — 10,447 Other current liabilities — 216 16,258 — 16,474 Total current liabilities 3,047 9,648 50,846 — 63,541 LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 323,803 648,764 — — 972,567 PENSION AND OTHER POSTRETIREMENT BENEFITS — 30,484 (684 ) — 29,800 OTHER NON-CURRENT LIABILITIES — 7,454 52,754 — 60,208 INTERCOMPANY PAYABLE — — — — — TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,556,873 1,833,899 3,022,875 (4,856,774 ) 1,556,873 Noncontrolling interest — — 97,677 — 97,677 TOTAL SHAREHOLDERS’ EQUITY 1,556,873 1,833,899 3,120,552 (4,856,774 ) 1,654,550 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $1,883,723 $2,530,249 $3,223,468 ($4,856,774 ) $2,780,666 CONDENSED CONSOLIDATING BALANCE SHEETS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents $48,564 $25,042 $39,047 — $112,653 Accounts receivable, less allowance for doubtful accounts — 3,726 23,967 — 27,693 Inventory — — 24,141 — 24,141 Prepaid logging roads — — 11,207 — 11,207 Prepaid expenses — 759 4,027 — 4,786 Other current assets — 14 3,033 — 3,047 Total current assets 48,564 29,541 105,422 — 183,527 TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION — — 2,462,066 — 2,462,066 HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS — — 80,797 — 80,797 NET PROPERTY, PLANT AND EQUIPMENT — 21 23,357 — 23,378 RESTRICTED CASH — — 59,703 — 59,703 INVESTMENT IN SUBSIDIARIES 1,531,156 2,814,408 — (4,345,564 ) — INTERCOMPANY RECEIVABLES 40,067 (628,167 ) 588,100 — — OTHER ASSETS 2 12,680 36,328 — 49,010 TOTAL ASSETS $1,619,789 $2,228,483 $3,355,773 ($4,345,564 ) $2,858,481 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable — $2,838 $22,310 — $25,148 Current maturities of long-term debt — — 3,375 — 3,375 Accrued taxes — 48 3,733 — 3,781 Accrued payroll and benefits — 5,298 4,364 — 9,662 Accrued interest 3,047 1,995 12 — 5,054 Deferred revenue — — 9,721 — 9,721 Other current liabilities — 564 11,243 — 11,807 Total current liabilities 3,047 10,743 54,758 — 68,548 LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 323,434 663,570 35,000 — 1,022,004 PENSION AND OTHER POSTRETIREMENT BENEFITS — 32,589 (684 ) — 31,905 OTHER NON-CURRENT LIABILITIES — 9,386 33,698 — 43,084 INTERCOMPANY PAYABLE (299,715 ) (18,961 ) 318,676 — — TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,593,023 1,531,156 2,814,408 (4,345,564 ) 1,593,023 Noncontrolling interest — — 99,917 — 99,917 TOTAL SHAREHOLDERS’ EQUITY 1,593,023 1,531,156 2,914,325 (4,345,564 ) 1,692,940 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $1,619,789 $2,228,483 $3,355,773 ($4,345,564 ) $2,858,481 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES $284,781 $182,057 ($156,742 ) — $310,096 INVESTING ACTIVITIES Capital expenditures — (59 ) (62,266 ) — (62,325 ) Real estate development investments — — (9,501 ) — (9,501 ) Purchase of timberlands — — (57,608 ) — (57,608 ) Investment in subsidiaries — 6,128 — (6,128 ) — Other — — (3,421 ) — (3,421 ) CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES — 6,069 (132,796 ) (6,128 ) (132,855 ) FINANCING ACTIVITIES Issuance of debt — — 1,014 — 1,014 Repayment of debt — (50,000 ) (4,416 ) — (54,416 ) Dividends paid (136,698 ) (74 ) — — (136,772 ) Proceeds from the issuance of common shares under incentive stock plan 8,591 — — — 8,591 Repurchase of common shares (2,984 ) — — — (2,984 ) Proceeds from shareholder distribution hedge — — 2,025 — 2,025 Distribution to minority shareholder — — (11,172 ) — (11,172 ) Issuance of intercompany notes 299,715 18,961 (318,676 ) — — Intercompany distributions (501,608 ) (77,278 ) 572,758 6,128 — CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES (332,984 ) (108,391 ) 241,533 6,128 (193,714 ) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — 571 — 571 CASH, CASH EQUIVALENTS AND RESTRICTED CASH Change in cash, cash equivalents and restricted cash (48,203 ) 79,735 (47,434 ) — (15,902 ) Balance, beginning of year 48,564 25,042 98,750 — 172,356 Balance, end of year $361 $104,777 $51,316 — $156,454 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES ($48,104 ) $111,431 $192,957 — $256,284 INVESTING ACTIVITIES Capital expenditures — — (65,345 ) — (65,345 ) Real estate development investments — — (15,784 ) — (15,784 ) Purchase of timberlands — — (242,910 ) — (242,910 ) Net proceeds from large disposition of timberlands — — 95,243 — 95,243 Rayonier office building under construction — — (6,084 ) — (6,084 ) Investment in subsidiaries — 38,546 — (38,546 ) — Other — — (373 ) — (373 ) CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES — 38,546 (235,253 ) (38,546 ) (235,253 ) FINANCING ACTIVITIES Issuance of debt — 25,000 38,389 — 63,389 Repayment of debt — (15,000 ) (85,157 ) — (100,157 ) Dividends paid (127,069 ) — — — (127,069 ) Proceeds from the issuance of common shares under incentive stock plan 4,751 — — — 4,751 Proceeds from the issuance of common shares from equity offering, net of costs 152,390 — — — 152,390 Repurchase of common shares (176 ) — — — (176 ) Issuance of intercompany notes (32,000 ) — 32,000 — — Intercompany distributions 77,319 (144,396 ) 28,531 38,546 — CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES 75,215 (134,396 ) 13,763 38,546 (6,872 ) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — 580 — 580 CASH, CASH EQUIVALENTS AND RESTRICTED CASH Change in cash, cash equivalents and restricted cash 27,111 15,581 (27,953 ) — 14,739 Balance, beginning of year 21,453 9,461 126,703 — 157,617 Balance, end of year $48,564 $25,042 $98,750 — $172,356 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES ($7,480 ) $113,775 $97,506 — $203,801 INVESTING ACTIVITIES Capital expenditures — — (58,723 ) — (58,723 ) Real estate development investments — — (8,746 ) — (8,746 ) Purchase of timberlands — — (366,481 ) — (366,481 ) Assets purchased in business acquisition — — (887 ) — (887 ) Net proceeds from large disposition of timberlands — — 203,862 — 203,862 Rayonier office building under construction — — (6,307 ) — (6,307 ) Investment in subsidiaries — (293,820 ) — 293,820 — Other — — 2,311 — 2,311 CASH USED FOR INVESTING ACTIVITIES — (293,820 ) (234,971 ) 293,820 (234,971 ) FINANCING ACTIVITIES Issuance of debt — 548,000 147,916 — 695,916 Repayment of debt — (140,000 ) (318,415 ) — (458,415 ) Dividends paid (122,845 ) — — — (122,845 ) Proceeds from the issuance of common shares under incentive stock plan 1,576 — — — 1,576 Repurchase of common shares (690 ) — — — (690 ) Debt issuance costs — (818 ) — — (818 ) Issuance of intercompany notes (12,000 ) — 12,000 — — Intercompany distributions 160,597 (230,893 ) 364,116 (293,820 ) — Other (177 ) — (124 ) — (301 ) CASH PROVIDED BY FINANCING ACTIVITIES 26,461 176,289 205,493 (293,820 ) 114,423 EFFECT OF EXCHANGE RATE CHANGES ON CASH — — (938 ) — (938 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH Change in cash, cash equivalents and restricted cash 18,981 (3,756 ) 67,090 — 82,315 Balance, beginning of year 2,472 13,217 59,613 — 75,302 Balance, end of year $21,453 $9,461 $126,703 — $157,617

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS Years Ended December 31, 2018 , 2017 , and 2016 (In Thousands) Description Balance at Beginning of Year Additions Charged to Cost and Expenses Deductions Balance at End of Year Allowance for doubtful accounts: Year ended December 31, 2018 $23 — ($15 ) $8 Year ended December 31, 2017 33 — (10 ) 23 Year ended December 31, 2016 42 — (9 ) 33 Deferred tax asset valuation allowance: Year ended December 31, 2018 $34,889 $3,950 (a) — $38,839 Year ended December 31, 2017 21,861 13,028 (a) — 34,889 Year ended December 31, 2016 18,248 3,613 (a) — 21,861 (a)

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These statements include the accounts of Rayonier Inc. and its subsidiaries, in which it has a majority ownership or controlling interest. As of April 2013, the Company held a controlling interest ( 65% ) in the New Zealand subsidiary, and, as such, consolidates its results of operations and Balance Sheet. In March 2016, the Company made a capital contribution into the New Zealand subsidiary, and as a result, the Company’s ownership interest increased to 77% . The Company records a noncontrolling interest in its consolidated financial statements representing the minority ownership interest ( 23%
Reclassification of Other Operating Income, Net	RECLASSIFICATIONSDuring 2018, management changed how it internally evaluates the business performance of its New Zealand Timber segment. In order to align segment reporting, the Company has reclassified New Zealand timberland sales from the New Zealand Timber segment to the Real Estate segment. All prior period amounts previously reported have been reclassified to reflect the realigned segments.
Use of Estimates	USE OF ESTIMATES The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and to disclose contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. There are risks inherent in estimating and therefore actual results could differ from those estimates.
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTSCash and cash equivalents include time deposits with original maturities of three months or less.
Accounts Receivable	ACCOUNTS RECEIVABLEAccounts receivable are primarily amounts due to the Company for the sale of timber and are presented net of an allowance for doubtful accounts.
Inventory	INVENTORY HBU real estate properties that are expected to be sold within one year are included in inventory at lower of cost or net realizable value. HBU properties that are expected to be sold after one year are included in a separate balance sheet line, entitled “Higher and Better Use Timberlands and Real Estate Development Investments.” See below for additional information.
Prepaid Logging Roads	PREPAID LOGGING ROADS Costs for roads built in the Pacific Northwest and New Zealand to access particular tracts to be harvested in the upcoming 24 months to 60 months
Deferred Financing Costs	DEFFERED FINANCING COSTS Deferred financing costs related to revolving debt are capitalized and amortized to interest expense over the term of the revolving debt using a method that approximates the effective interest method. See Note 20 — Other Assets for additional information on deferred financing costs related to revolving debt. See Note 5 — Debt
Capitalized Software Costs	CAPITALIZED SOFTWARE COSTS Software costs are capitalized and amortized over a period not exceeding five years
Timber and Timberlands	TIMBER AND TIMBERLANDS Timber is stated at the lower of cost or net realizable value. Costs relating to acquiring, planting and growing timber including real estate taxes, site preparation and direct support costs relating to facilities, vehicles and supplies are capitalized. Annual lease payments are capitalized or expensed based on the proportion of acres that the Company will be able to harvest prior to lease expiration. Lease payments made within one year of expiration are expensed as incurred. Payroll costs are capitalized for time spent on timber growing activities, while interest or any other intangible costs are not capitalized. An annual depletion rate is established for each particular region by dividing merchantable inventory cost by standing merchantable inventory volume, which is estimated annually. The Company charges accumulated costs attributed to merchantable timber to depletion expense (cost of sales), at the time the timber is harvested or when the underlying timberland is sold.
Higher and Better Use Timberlands and Real Estate Development Investments	HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS HBU timberland is recorded at the lower of cost or net realizable value. These properties are managed as timberlands until sold or developed with sales and depletion expense related to the harvesting of timber accounted for within the respective timber segment. At the time of sale, the cost basis of any unharvested timber is recorded as depletion expense, a component of cost of sales, within the Real Estate segment.
Property, Plant, Equipment and Depreciation	PROPERTY, PLANT, EQUIPMENT AND DEPRECIATION Property, plant and equipment additions are recorded at cost, including applicable freight, interest, construction and installation costs. The Company depreciates its assets, including office and transportation equipment, using the straight-line depreciation method over 3 to 25 years. Buildings and land improvements are depreciated using the straight-line method over 15 to 35 years and 5 to 30 years, respectively.
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy that prioritizes the inputs used to measure fair value was established 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, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 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 — 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 Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the plan are open-end mutual funds that are registered with the U.S. Securities and Exchange Commission. These funds are required to publish their daily net asset value and to transact at that price. The mutual funds held by the plan are deemed to be actively traded and to be Level 1 investments.
Goodwill	GOODWILL Goodwill represents the excess of the acquisition cost of the New Zealand Timber segment over the fair value of the net assets acquired. Goodwill is not amortized, but is periodically reviewed for impairment. An impairment test for this reporting unit’s goodwill is performed annually and whenever events or circumstances indicate that the value of goodwill may be impaired. The Company compares the fair value of the New Zealand Timber segment, using an independent valuation for the New Zealand forest assets, to its carrying value including goodwill. The independent valuation of the New Zealand forest assets is based on discounted cash flow models where the fair value is calculated using cash flows from sustainable forest management plans. The fair value of the forest assets is measured as the present value of cash flows from one growth cycle based on the productive forest land, taking into consideration environmental, operational, and market restrictions. These cash flow valuations involve a number of estimates that require broad assumptions and significant judgment regarding future performance. The annual impairment test was performed as of October 1, 2018; the estimated fair value of the New Zealand Timber segment exceeded its carrying value and no
Foreign Currency Translation	FOREIGN CURRENCY TRANSLATION The functional currency of the Company’s New Zealand-based operations is the New Zealand dollar. All assets and liabilities are translated into U.S. dollars at the exchange rate in effect at the respective balance sheet dates. Translation gains and losses are recorded as a separate component of Accumulated Other Comprehensive Income (“AOCI”), within Shareholders’ Equity.
Revenue Recognition	REVENUE RECOGNITION The Company recognizes revenues 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”). The Company generally satisfies performance obligations within a year of entering into a contract and therefore has applied the disclosure exemption found under ASC 606-10-50-14. Unsatisfied performance obligations as of December 31, 2018 are primarily due to advances on stumpage contracts and unearned hunt license revenue. These performance obligations are expected to be satisfied within the next twelve months. The Company generally collects payment within a year of satisfying performance obligations and therefore has elected not to adjust revenues for a financing component. TIMBER SALES Revenue from the sale of timber is recognized when control passes to the buyer. The Company utilizes two primary methods or sales channels for the sale of timber – a stumpage/standing timber model and a delivered log model. The sales method the Company employs depends upon local market conditions and which method management believes will provide the best overall margins. Under the stumpage model, standing timber is sold primarily under pay-as-cut contracts, with specified duration (typically one year or less) and fixed prices, whereby revenue is recognized as timber is severed and the sales volume is determined. The Company also sells stumpage under lump-sum contracts for specified parcels where the Company receives cash for the full agreed value of the timber prior to harvest and control passes to the buyer upon signing the contract. The Company retains interest in the land, slash products, and the use of the land for recreational and other purposes. Any uncut timber remaining at the end of the contract period reverts to the Company. Revenue is recognized for lump-sum timber sales when payment is received, the contract is signed and control passes to the buyer. A third type of stumpage sale the Company utilizes is an agreed-volume sale, whereby revenue is recognized using the output method, as periodic physical observations are made of the percentage of acreage harvested. Under the delivered log model, the Company hires third-party loggers and haulers to harvest timber and deliver it to a buyer. Sales of domestic logs generally do not require an initial payment and are made to third-party customers on open credit terms. Sales of export logs generally require a letter of credit from an approved bank. Revenue is recognized when the logs are delivered and control has passed to the buyer. For domestic log sales, control is considered passed to the buyer as the logs are delivered to the customer’s facility. For export log sales (primarily in New Zealand), control is considered passed to the buyer upon delivery onto the export vessel. The following table summarizes revenue recognition and general payment terms for timber sales: Contract Type Performance Obligation Timing of Revenue Recognition General Payment Terms Stumpage Pay-as-Cut Right to harvest a unit (i.e. ton, MBF, JAS m3) of standing timber As timber is severed (point-in-time) Initial payment between Stumpage Lump Sum Right to harvest an agreed upon acreage of standing timber Contract execution (point-in-time) Full payment due upon contract execution Stumpage Agreed Volume Right to harvest an agreed upon volume of standing timber As timber is severed (over-time) Payments made throughout contract term at the earlier of a specified harvest percentage or time elapsed Delivered Wood (Domestic) Delivery of a unit (i.e. ton, MBF, JAS m3) of timber to customer’s facility Upon delivery to customer’s facility (point-in-time) No initial payment and on open credit terms; collection generally within 30 days of invoice Delivered Wood (Export) Delivery of a unit (i.e. ton, MBF, JAS m3) onto export vessel Upon delivery onto export vessel (point-in-time) Letter of credit from an approved bank; collection generally within 30 days of delivery NON-TIMBER SALES Non-timber income is primarily comprised of hunting and recreational licenses. Such income and any related cost are recognized ratably over the term of the agreement and included in “Sales” and “Cost of sales”, respectively. Payment is generally due upon contract execution. LOG TRADING Log trading revenue is generally recognized when procured logs are delivered to the buyer and control has passed. For domestic log trading, control is considered passed to the buyer as the logs are delivered to the customer’s facility. For export log trading, control is considered passed to the buyer upon delivery onto the export vessel. The Trading segment also includes sales from log agency contracts, whereby the Company acts as an agent managing export services on behalf of third parties. Revenue for log agency fees are recognized net of related costs.
Real Estate and Cost of Sales	REAL ESTATE The Company recognizes revenue on sales of real estate generally at the point in time when cash has been received, the sale has closed, and control has passed to the buyer. A deposit of 5% is generally required at the time a purchase and sale agreement is executed, with the balance due at closing. On sales of real estate containing future performance obligations, revenue is recognized using the input method based on costs incurred to date relative to the total costs expected to fulfill the performance obligations in the contract with the customer. COST OF SALES Cost of sales associated with timber operations primarily include the cost basis of timber sold (depletion) and logging and transportation costs (cut and haul). Depletion includes the amortization of capitalized costs (site preparation, planting and fertilization, real estate taxes, timberland lease payments and certain payroll costs). Other costs include amortization of capitalized costs related to road and bridge construction and software, depreciation of fixed assets and equipment, road maintenance, severance and excise taxes and fire prevention. Cost of sales associated with real estate sold includes the cost of the land, the cost of any timber on the property that was conveyed to the buyer, any real estate development costs and any closing costs including sales commissions that may be borne by the Company. As allowed under GAAP, the Company expenses closing costs, including sales commissions, when incurred for all real estate sales with future performance obligations expected to be satisfied within one year.
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS The determination of expense and funding requirements for Rayonier’s defined benefit pension plan, its unfunded excess pension plan and its postretirement life insurance plan are largely based on a number of actuarial assumptions. The key assumptions include discount rate, return on assets, salary increases, mortality rates and longevity of employees. See Note 15 — Employee Benefit Plans for assumptions used to determine benefit obligations, and the net periodic benefit cost for the year ended December 31, 2018 . Periodic pension and other postretirement expense is included in “Cost of sales” and “Selling and general expenses” in the Consolidated Statements of Income and Comprehensive Income. At December 31, 2018 and 2017 , the Company’s pension plans were in a net liability position (underfunded) of $28.6 million and $30.6 million , respectively. The estimated amount to be paid in the next 12 months is recorded in “Accrued payroll and benefits” on the Consolidated Balance Sheets, with the remainder recorded as a long-term liability in “Pension and Other Postretirement Benefits.” Changes in the funded status of the Company’s plans are recorded through other comprehensive income (loss) in the year in which the changes occur. The Company measures
Income Taxes	INCOME TAXES The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, operating loss carryforwards and tax credit carryforwards. Deferred tax assets and liabilities are measured pursuant to tax laws using rates expected to apply to taxable income in the years in which the temporary differences are expected to be recovered or settled. The Company recognizes the effect of a change in income tax rates on deferred tax assets and liabilities in the Consolidated Statements of Income and Comprehensive Income in the period that includes the enactment date of the rate change. The Company records a valuation allowance to reduce the carrying amounts of deferred tax assets if it is more-likely-than-not that such deferred tax assets will not be realized. In determining the provision for income taxes, the Company computes an annual effective income tax rate based on annual income by legal entity, permanent differences between book and tax, and statutory income tax rates by jurisdiction. Inherent in the effective tax rate is an assessment of the ultimate outcome of current period uncertain tax positions. The Company adjusts its annual effective tax rate as additional information on outcomes or events becomes available. Discrete items such as taxing authority examination findings or legislative changes are recognized in the period in which they occur.
New or Recently Adopted Accounting Pronouncements	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In February 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-02 , Income Statement — Reporting Compr ehensive Income ( Topic 220 ) Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act. ASU No. 2018-02 is effective for the Company's reporting period beginning on January 1, 2019; early adoption is permitted. The Company elected to adopt ASU No. 2018-02 during the third quarter of 2018, and elected to reclassify the income tax effects of the Tax Cuts and Jobs Act from AOCI to retained earnings. The reclassification decreased AOCI and increased retained earnings by $0.7 million , with zero net effect on total shareholders’ equity. The Company adopted ASU No. 2014-09, Revenue from Contracts with Customers ( Topic 606 ), on January 1, 2018. The Company elected to apply the modified retrospective method to contracts that were not completed at the date of adoption. The Company also elected not to retrospectively restate contracts modified prior to January 1, 2018. A cumulative effect of adoption adjustment to the opening balance of retained earnings was not recorded as there was no accounting impact to any contracts with customers not completed at the date of adoption. See Note 2 — Revenue for additional information. In March 2017, the FASB issued ASU No. 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which requires that an employer report the service cost component of net periodic benefit cost in the Consolidated Statements of Income in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. Additionally, the other components of net periodic benefit cost (interest cost, expected return on plan assets and amortization of losses or gains) are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. ASU No. 2017-07 is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods, and is required to be applied retrospectively to all periods presented beginning in the period of adoption. Rayonier adopted ASU No. 2017-07 during the first quarter ended March 31, 2018 and applied the update retrospectively to all periods presented. See Note 15 — Employee Benefit Plans for the components of net periodic benefit cost and the location of these items in the Consolidated Statements of Income and Comprehensive Income. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash , which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the Consolidated Statements of Cash Flows. ASU No. 2016-18 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. ASU No. 2016-18 is required to be applied retrospectively to all periods presented beginning in the period of adoption. Rayonier adopted ASU No. 2016-18 in the first quarter ended March 31, 2018 and applied the update retrospectively to all periods presented. Restricted cash is now included with cash and cash equivalents when reconciling the beginning-of-year and end-of-period total amounts shown on the Consolidated Statements of Cash Flows, and therefore changes in restricted cash are no longer reported as cash flow activities. See Note 19 — Restricted Cash for additional information, including the nature of restrictions on the Company’s cash, cash equivalents, and restricted cash. The Company adopted ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Receipts and Cash Payments in the first quarter ended March 31, 2018 with no material impact on the consolidated financial statements. The Company adopted ASU No. 2018-03 , Technical Corrections and Improvements to Financial Instruments —Overall (Subtopic 825-10) in the third quarter ended September 30, 2018 with no material impact on the consolidated financial statements. NEW ACCOUNTING PRONOUNCEMENTS In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which currently requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. ASU No. 2016-02 also requires additional qualitative and quantitative disclosures related to the nature, timing and uncertainty of cash flows arising from leases. In January 2018, the FASB issued ASU No. 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842. This update provides an optional transition practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases under the current leases guidance. An entity that elects this practical expedient should evaluate new or modified land easements under ASU No. 2016-02, once adopted. An entity that does not elect this practical expedient should evaluate all existing or expired land easements in connection with the adoption of ASU No. 2016-02 to assess whether they meet the definition of a lease. In December 2018, the FASB issued ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors . This update provides a policy election to not evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs, clarify the accounting for certain lessor costs and require lessors to allocate (rather than recognize) certain variable payments to lease and nonlease components when the changes in facts and circumstances on which a variable payment is based occurs. This standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and is required to be applied on a modified retrospective basis beginning at the earliest period presented. The Company has elected to apply a practical expedient offered in the updated guidance which allows entities to apply the guidance on January 1, 2019 and comparative periods are not restated. The Company also expects to elect the transition practical expedient package available in the guidance whereby we will not reassess whether any of our expired or existing contracts contain a lease, the classification for any expired or existing leases or the initial direct costs for any existing leases. The Company is finalizing its evaluation of its operating lease inventory and other provisions of the updated guidance, but currently expects to recognize additional lease liabilities and corresponding right-of-use assets of less than five percent of our total assets on our Consolidated Balance Sheet, representing the present value of the remaining minimum lease payments at January 1, 2019 with an assumed 20-year term on Crown Forest Licenses. Based on the Company’s assessment, the impact of adoption of the updated guidance is not expected to have a material effect on its results of operations. See Note 8 — Commitments , for information about our lease commitments. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which will make more financial and non-financial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. It is intended to more closely align hedge accounting with companies’ risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. ASU No. 2017-12 is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted and the amended presentation and disclosure guidance is required to be applied on a prospective basis. The Company does not expect a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement . This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. Entities are also allowed to elect early adoption of the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. As ASU No. 2018-13 only revises disclosure requirements, it will not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-14, Disclosure Framework — Changes to the Disclosure Re quirements for Defined Benefit Plans
Subsequent Events	SUBSEQUENT EVENTS The Company has evaluated events occurring from December 31, 2018
Segment and Geographical Information	Rayonier operates in five reportable segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. See Item 1 — Business for a discussion of each of the Company’s reportable segments. See Note 1 — Summary of Significant Accounting Policies for a discussion of the current year reclassification of New Zealand land sales from the New Zealand Timber segment to the Real Estate segment. Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. The Company evaluates financial performance based on segment operating income and Adjusted EBITDA. Asset information is not reported by segment, as the company does not produce asset information by segment internally.
Earnings Per Common Share	Basic earnings per share (“EPS”) is calculated by dividing net income attributable to Rayonier by the weighted average number of common shares outstanding during the year. Diluted EPS is calculated by dividing net income attributable to Rayonier by the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of outstanding stock options, performance shares, restricted shares and convertible debt.
Derivative Financial Instruments and Hedging Activities	Accounting for derivative financial instruments is governed by Accounting Standards Codification Topic 815, Derivatives and Hedging,
Offsetting Derivatives	OFFSETTING DERIVATIVESDerivative financial instruments are presented at their gross fair values in the Consolidated Balance Sheets. The Company’s derivative financial instruments are not subject to master netting arrangements which would allow the right of offset.
Share-based Compensation	RESTRICTED STOCKRestricted stock granted to employees under the Stock Plan generally vests in fourths on the first, second, third and fourth anniversary of the grant date. Restricted stock granted to senior management generally vests in thirds on the third, fourth, and fifth anniversary of the grant date. Periodically, other one-time restricted stock grants are issued to employees for special purposes, such as new hire, promotion or retention, and can vest ratably over, or upon completion of, a defined period of time. Generally, holders of restricted stock receive dividend equivalent payments on outstanding restricted shares. Restricted stock granted to members of the board of directors generally vests immediately upon issuance and is subject to certain holding requirements. The fair value of each share granted is equal to the share price of the Company’s stock on the date of grant. Rayonier has elected to value each grant in total and recognize the expense on a straight-line basis from the grant date of the award to the latest vesting date. PERFORMANCE SHARES UNITSThe Company’s performance share units generally vest upon completion of a three-year period. The number of shares, if any, that are ultimately awarded is contingent upon Rayonier’s total shareholder return versus selected peer group companies. The performance share payout is based on a market condition and as such, the awards are valued using a Monte Carlo simulation model. The model generates the fair value of the award at the grant date, which is then recognized as expense on a straight-line basis over the vesting period. Expected volatility was estimated using daily returns on the Company’s common shares for the three-year period ending on the grant date. The risk-free rate was based on the 3-year U.S. treasury rate on the date of the award. The dividend yield was not used to calculate fair value as awards granted receive dividend equivalents. NON-QUALIFIED EMPLOYEE STOCK OPTIONS The exercise price of each non-qualified stock option granted under the Stock Plan is equal to the closing market price of the Company’s stock on the grant date. Under the Stock Plan, the maximum term is 10 years

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Revenue Recognition Terms	The following table summarizes revenue recognition and general payment terms for timber sales: Contract Type Performance Obligation Timing of Revenue Recognition General Payment Terms Stumpage Pay-as-Cut Right to harvest a unit (i.e. ton, MBF, JAS m3) of standing timber As timber is severed (point-in-time) Initial payment between Stumpage Lump Sum Right to harvest an agreed upon acreage of standing timber Contract execution (point-in-time) Full payment due upon contract execution Stumpage Agreed Volume Right to harvest an agreed upon volume of standing timber As timber is severed (over-time) Payments made throughout contract term at the earlier of a specified harvest percentage or time elapsed Delivered Wood (Domestic) Delivery of a unit (i.e. ton, MBF, JAS m3) of timber to customer’s facility Upon delivery to customer’s facility (point-in-time) No initial payment and on open credit terms; collection generally within 30 days of invoice Delivered Wood (Export) Delivery of a unit (i.e. ton, MBF, JAS m3) onto export vessel Upon delivery onto export vessel (point-in-time) Letter of credit from an approved bank; collection generally within 30 days of delivery

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue by Product	The following tables present our revenue from contracts with customers disaggregated by product type for the years ended December 31, 2018 , 2017 and 2016 : Year Ended Southern Timber Pacific Northwest Timber New Zealand Timber Real Estate Trading Elim. Total December 31, 2018 Pulpwood $80,134 $14,305 $28,737 — $13,771 — $136,947 Sawtimber 60,295 92,166 213,206 — 134,299 — 499,966 Hardwood 3,433 — — — — — 3,433 Total Timber Sales 143,863 106,471 241,943 — 148,070 — 640,347 License Revenue, Primarily From Hunting 16,285 709 401 — — — 17,395 Other Non-Timber/Carbon Revenue 9,030 2,375 6,670 — — — 18,075 Agency Fee Income — — — — 652 — 652 Total Non-Timber Sales 25,315 3,084 7,071 — 652 — 36,122 Improved Development — — — 8,393 — — 8,393 Unimproved Development — — — 8,621 — — 8,621 Rural — — — 22,689 — — 22,689 Non-strategic / Timberlands — — — 98,872 — — 98,872 Total Real Estate Sales — — — 138,575 — — 138,575 Revenue from Contracts with Customers 169,178 109,555 249,014 138,575 148,722 — 815,044 Other Non-Timber Sales, Primarily Lease 817 277 — — — — 1,094 Intersegment — — — — 92 (92 ) — Total Revenue $169,995 $109,832 $249,014 $138,575 $148,814 ($92 ) $816,138 December 31, 2017 Pulpwood $67,836 $11,242 $24,934 — $13,352 — $117,364 Sawtimber 50,891 77,477 197,521 — 137,854 — 463,743 Hardwood 3,912 — — — — — 3,912 Total Timber Sales 122,639 88,719 222,455 — 151,206 — 585,019 License Revenue, Primarily from Hunting 16,004 646 227 — — — 16,877 Other Non-Timber Revenue 5,061 2,243 617 — — — 7,921 Agency Fee Income — — — — 1,378 — 1,378 Total Non-Timber Sales 21,065 2,889 844 — 1,378 — 26,176 Improved Development — — — 6,348 — — 6,348 Unimproved Development — — — 16,405 — — 16,405 Rural — — — 18,632 — — 18,632 Non-strategic / Timberlands — — — 70,590 — — 70,590 Large Dispositions — — — 95,351 — — 95,351 Total Real Estate Sales — — — 207,326 — — 207,326 Revenue from Contracts with Customers 143,704 91,608 223,299 207,326 152,584 — 818,521 Other Non-Timber Sales, Primarily Lease 806 269 — — — — 1,075 Total Revenue $144,510 $91,877 $223,299 $207,326 $152,584 — $819,596 December 31, 2016 Pulpwood $80,248 $13,202 $18,993 — $8,793 — $121,236 Sawtimber 46,600 61,985 151,747 — 99,520 — 359,852 Hardwood 6,052 — — — — — 6,052 Total Timber Sales 132,854 75,187 170,740 — 108,313 — 487,094 License Revenue, Primarily from Hunting 14,313 503 279 — — — 15,095 Other Non-Timber Revenue 3,267 1,832 5,022 — — — 10,121 Agency Fee Income — — — — 1,369 — 1,369 Total Non-Timber Sales 17,580 2,335 5,301 — 1,369 — 26,585 Improved Development — — — 1,740 — — 1,740 Unimproved Development — — — 5,540 — — 5,540 Rural — — — 18,672 — — 18,672 Non-strategic / Timberlands — — — 67,981 — — 67,981 Large Dispositions — — — 207,265 — — 207,265 Total Real Estate Sales — — — 301,198 — — 301,198 Revenue from Contracts with Customers 150,434 77,522 176,041 301,198 109,682 — 814,877 Other Non-Timber Sales, Primarily Lease 758 280 — — — — 1,038 Total Revenue $151,192 $77,802 $176,041 $301,198 $109,682 — $815,915 The following tables present our timber sales disaggregated by contract type for the years ended December 31, 2018 , 2017 and 2016 : Year Ended Southern Timber Pacific Northwest Timber New Zealand Timber Trading Total December 31, 2018 Stumpage Pay-as-Cut $72,385 — — — $72,385 Stumpage Lump Sum 4,988 11,854 — — 16,842 Stumpage Agreed Volume — — — — — Total Stumpage 77,373 11,854 — — 89,227 Delivered Wood (Domestic) 60,931 94,617 90,631 6,141 252,320 Delivered Wood (Export) 5,559 — 151,312 141,929 298,800 Total Delivered 66,490 94,617 241,943 148,070 551,120 Total Timber Sales $143,863 $106,471 $241,943 $148,070 $640,347 December 31, 2017 Stumpage Pay-as-Cut $71,120 — — — $71,120 Stumpage Lump Sum 9,093 10,628 — — 19,721 Stumpage Agreed Volume — 1,234 — — 1,234 Total Stumpage 80,213 11,862 — — 92,075 Delivered Wood (Domestic) 42,426 76,857 84,221 6,044 209,548 Delivered Wood (Export) — — 138,234 145,162 283,396 Total Delivered 42,426 76,857 222,455 151,206 492,944 Total Timber Sales $122,639 $88,719 $222,455 $151,206 $585,019 December 31, 2016 Stumpage Pay-as-Cut $73,673 — — — $73,673 Stumpage Lump Sum 4,341 2,121 767 — 7,229 Stumpage Agreed Volume — 2,492 — — 2,492 Total Stumpage 78,014 4,613 767 — 83,394 Delivered Wood (Domestic) 54,840 70,574 71,294 3,757 200,465 Delivered Wood (Export) — — 98,679 104,556 203,235 Total Delivered 54,840 70,574 169,973 108,313 403,700 Total Timber Sales $132,854 $75,187 $170,740 $108,313 $487,094
Contract with Customer, Liabilities	The following table summarizes revenue recognized during the years ended December 31, 2018 and 2017 that was included in the contract liability balance at the beginning of each year: Year Ended December 31, 2018 2017 Revenue recognized from contract liability balance at the beginning of the year (a) $9,004 $8,701 (a)

Timberland Acquisitions (Tables

Timberland Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Summary of Timberland Acquisitions	The following table summarizes the timberland acquisitions at December 31, 2018 and 2017 : 2018 2017 Cost Acres Cost Acres Florida $35,560 20,513 $32,334 15,382 Georgia 2,532 2,232 147,833 68,473 South Carolina — — 39,884 17,651 Texas 7,851 3,279 — — Washington — — 1,483 481 New Zealand 11,665 3,833 21,376 7,546 Total Acquisitions $57,608 29,857 $242,910 109,533

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Segment information for each of the three years ended December 31, 2018 follows: Sales by Product Line 2018 2017 2016 Southern Timber $169,995 $144,510 $151,192 Pacific Northwest Timber 109,832 91,877 77,802 New Zealand Timber 249,014 223,299 176,041 Real Estate Improved Development 8,393 6,348 1,740 Unimproved Development 8,621 16,405 5,540 Rural 22,689 18,632 18,672 Non-Strategic / Timberlands 98,872 70,590 67,981 Large Dispositions — 95,351 207,265 Total Real Estate 138,575 207,326 301,198 Trading 148,814 152,584 109,682 Intersegment eliminations (92 ) — — Total Sales $816,138 $819,596 $815,915 Operating Income/(Loss) 2018 2017 2016 Southern Timber $44,245 $42,254 $43,098 Pacific Northwest Timber 8,137 1,127 (3,992 ) New Zealand Timber 62,754 57,567 33,049 Real Estate (a) 76,240 130,856 202,402 Trading 953 4,578 2,002 Corporate and other (22,261 ) (20,891 ) (20,782 ) Total Operating Income 170,068 215,491 255,777 Unallocated interest expense and other (27,502 ) (32,231 ) (32,943 ) Total Income before Income Taxes $142,566 $183,260 $222,834 (a) The years 2017 and 2016 include Large Dispositions of $67.0 million and $143.9 million , respectively. Gross Capital Expenditures 2018 2017 2016 Capital Expenditures (a) Southern Timber $35,388 $34,476 $33,487 Pacific Northwest Timber 9,311 10,254 8,036 New Zealand Timber 17,318 17,046 16,095 Real Estate 284 1,348 315 Corporate and other 24 2,221 790 Total capital expenditures $62,325 $65,345 $58,723 Timberland Acquisitions Southern Timber $45,943 $220,051 $103,947 Pacific Northwest Timber — 1,483 262,534 New Zealand Timber 11,665 21,376 — Total timberland acquisitions $57,608 $242,910 $366,481 Total Gross Capital Expenditures $119,933 $308,255 $425,204 (a) Excludes timberland acquisitions presented separately in addition to spending on the Rayonier office building of $6.1 million and $6.3 million in the years 2017 and 2016, respectively, and real estate development investments of $9.5 million , $15.8 million and $8.7 million in the years 2018, 2017 and 2016, respectively. Depreciation, Depletion and Amortization 2018 2017 2016 Southern Timber $58,609 $49,357 $49,747 Pacific Northwest Timber 32,779 32,008 25,246 New Zealand Timber 28,007 27,499 23,447 Real Estate (a) 23,566 36,343 52,304 Corporate and other 1,160 794 402 Total $144,121 $146,001 $151,146 The years 2017 and 2016 include Large Dispositions of $18.4 million and $36.1 million , respectively. Non-Cash Cost of Land and Improved Development 2018 2017 2016 Real Estate (a) 23,553 23,498 33,862 (a) The years 2017 and 2016 include Large Dispositions of $9.8 million and $22.2 million , respectively. Geographical Operating Information Sales Operating Income Identifiable Assets 2018 2017 2016 2018 2017 2016 2018 2017 United States $390,396 $419,402 $528,345 $83,357 $138,528 $220,703 $2,282,480 $2,331,230 New Zealand 425,742 400,194 287,570 86,711 76,963 35,074 498,186 527,251 Total $816,138 $819,596 $815,915 $170,068 $215,491 $255,777 $2,780,666 $2,858,481
Schedule of Geographical Operating Information	Geographical Operating Information Sales Operating Income Identifiable Assets 2018 2017 2016 2018 2017 2016 2018 2017 United States $390,396 $419,402 $528,345 $83,357 $138,528 $220,703 $2,282,480 $2,331,230 New Zealand 425,742 400,194 287,570 86,711 76,963 35,074 498,186 527,251 Total $816,138 $819,596 $815,915 $170,068 $215,491 $255,777 $2,780,666 $2,858,481

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Rayonier’s debt consisted of the following at December 31, 2018 and 2017 : 2018 2017 Term Credit Agreement due 2024 at a variable interest rate of 4.0% at December 31, 2018 $350,000 $350,000 Senior Notes due 2022 at a fixed interest rate of 3.75% 325,000 325,000 Incremental Term Loan Agreement due 2026 at a variable interest rate of 4.2% at December 31, 2018 300,000 300,000 Revolving Credit Facility due 2020 at a variable interest rate of 2.8% at December 31, 2017 — 50,000 New Zealand subsidiary noncontrolling interest shareholder loan at 0% interest rate — 3,375 Total debt 975,000 1,028,375 Less: Current maturities of long-term debt — (3,375 ) Less: Deferred financing costs (2,433 ) (2,996 ) Long-term debt, net of deferred financing costs $972,567 $1,022,004 December 31 : 2018 2017 2016 Long-Term Leases and Deeds on Timberlands $9,521 $10,731 $10,710
Schedule of Maturities of Long-term Debt	Principal payments due during the next five years and thereafter are as follows: 2019 — 2020 — 2021 — 2022 325,000 2023 — Thereafter 650,000 Total debt $975,000

Higher and Better Use Timberl_2

Higher and Better Use Timberlands and Real Estate Development Investments (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Higher and Better Use Timberlands and Real Estate Development Investments	An analysis of higher and better use timberlands and real estate development investments from December 31, 2017 to December 31, 2018 is shown below: Higher and Better Use Timberlands and Real Estate Development Investments Land and Timber Development Investments Total Non-current portion at December 31, 2017 $59,653 $21,144 $80,797 Plus: Current portion (a) 6,702 11,648 18,350 Total Balance at December 31, 2017 66,355 32,792 99,147 Non-cash cost of land and improved development (2,193 ) (8,192 ) (10,385 ) Timber depletion from harvesting activities and basis of timber sold in real estate sales (2,450 ) — (2,450 ) Capitalized real estate development investments (b) — 9,501 9,501 Capital expenditures (silviculture) 254 — 254 Intersegment transfers 1,467 — 1,467 Other (5 ) (1 ) (6 ) Total Balance at December 31, 2018 63,428 34,100 97,528 Less: Current portion (a) (4,239 ) (7,680 ) (11,919 ) Non-current portion at December 31, 2018 $59,189 $26,420 $85,609 (a) The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 18 — Inventory for additional information. (b) Capitalized real estate development investments includes $0.6 million

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating Leases	Total rental expense for operating leases for the three years ended December 31 : 2018 2017 2016 Operating Leases $1,320 $1,992 $2,049
Schedule of Long-term Leases and Deeds on Timberlands	Rayonier’s debt consisted of the following at December 31, 2018 and 2017 : 2018 2017 Term Credit Agreement due 2024 at a variable interest rate of 4.0% at December 31, 2018 $350,000 $350,000 Senior Notes due 2022 at a fixed interest rate of 3.75% 325,000 325,000 Incremental Term Loan Agreement due 2026 at a variable interest rate of 4.2% at December 31, 2018 300,000 300,000 Revolving Credit Facility due 2020 at a variable interest rate of 2.8% at December 31, 2017 — 50,000 New Zealand subsidiary noncontrolling interest shareholder loan at 0% interest rate — 3,375 Total debt 975,000 1,028,375 Less: Current maturities of long-term debt — (3,375 ) Less: Deferred financing costs (2,433 ) (2,996 ) Long-term debt, net of deferred financing costs $972,567 $1,022,004 December 31 : 2018 2017 2016 Long-Term Leases and Deeds on Timberlands $9,521 $10,731 $10,710
Schedule of Future Minimum Rental Payments for Operating Leases	At December 31, 2018 , the future minimum payments under non-cancellable operating leases, timberland leases and other commitments were as follows: Operating Leases Timberland Leases (a) Commitments (b) Total 2019 $1,234 $8,775 $4,184 $14,193 2020 1,071 8,384 229 9,684 2021 898 8,365 25 9,288 2022 710 8,128 — 8,838 2023 649 7,618 — 8,267 Thereafter (c) 40 137,586 — 137,626 $4,602 $178,856 $4,438 $187,896 (a) The majority of timberland leases are subject to increases or decreases based on either the Consumer Price Index, Producer Price Index or market rates. (b) Commitments include $1.4 million of pension contribution requirements in 2019 based on actuarially determined estimates and IRS minimum funding requirements, payments expected to be made on derivative financial instruments (foreign exchange contracts and interest rate swaps), construction of the Wildlight development project and other purchase obligations. For additional information on the pension contribution see Note 15 — Employee Benefit Plans . (c) Includes 20 years of future minimum payments for perpetual Crown Forest Licenses (“CFL”). A CFL consists of a license to use public or government owned land to operate a commercial forest. The CFL's extend indefinitely and may only be terminated upon a 35 -year termination notice from the government. If no termination notice is given, the CFLs renew automatically each year for a one -year term. As of December 31, 2018 , the New Zealand subsidiary has two CFL’s under termination notice that are currently being relinquished as harvest activities are concluding, as well as two

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes for each of the three years ended December 31 follows: 2018 2017 2016 Current U.S. federal $2 $261 — State 37 (38 ) (254 ) Foreign (1,914 ) (245 ) (241 ) (1,875 ) (22 ) (495 ) Deferred U.S. federal 3,803 13,028 5,403 State 146 — (280 ) Foreign (23,360 ) (21,659 ) (6,079 ) (19,411 ) (8,631 ) (956 ) Changes in valuation allowance (3,950 ) (13,028 ) (3,613 ) Total ($25,236 ) ($21,681 ) ($5,064 )
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the U.S. federal statutory income tax rate to the actual income tax rate for each of the three years ended December 31 follows: 2018 2017 2016 U.S. federal statutory income tax rate ($29,939 ) (21.0 )% ($64,141 ) (35.0 )% ($77,992 ) (35.0 )% U.S. and foreign REIT income 32,949 23.1 63,813 34.8 82,037 36.8 Matariki Group and Rayonier New Zealand Ltd (23,166 ) (16.2 ) (19,182 ) (10.5 ) (4,799 ) (2.2 ) Transition tax — — (3,506 ) (1.9 ) — — Change in valuation allowance (3,950 ) (2.8 ) (13,028 ) (7.1 ) (3,613 ) (1.6 ) ASU No. 2016-16 adoption impact — — 16,631 9.1 — — Deemed repatriation of unremitted foreign earnings — — 7,368 4.0 — — Reduction of deferred tax asset for statutory rate change — — (10,499 ) (5.7 ) — — Foreign income tax withholding (1,848 ) (1.3 ) — — — — Other 718 0.5 863 0.5 (697 ) (0.3 ) Income tax (expense) benefit as reported for net income ($25,236 ) (17.7 )% ($21,681 ) (11.8 )% ($5,064 ) (2.3 )%
Schedule of Deferred Tax Assets and Liabilities	The nature of the temporary differences and the resulting net deferred tax asset/liability for the two years ended December 31 follows: 2018 2017 Gross deferred tax assets: Pension, postretirement and other employee benefits $1,791 $1,017 New Zealand subsidiary 14,252 40,224 CBPC tax credit carry forwards 14,555 14,641 Capitalized real estate costs 7,386 7,058 U.S. TRS net operating loss 5,747 1,872 Land basis difference 11,282 11,090 Other 4,047 5,079 Total gross deferred tax assets 59,060 80,981 Less: Valuation allowance (38,839 ) (34,889 ) Total deferred tax assets after valuation allowance $20,221 $46,092 Gross deferred tax liabilities: Accelerated depreciation (73 ) (35 ) New Zealand subsidiary (66,430 ) (72,527 ) Timber installment sale (4,823 ) (4,706 ) Other (1,272 ) (1,270 ) Total gross deferred tax liabilities (72,598 ) (78,538 ) Net deferred tax liability reported as noncurrent ($52,377 ) ($32,446 )
Summary of Operating Loss and Tax Credit Carryforwards	Foreign net operating loss (“NOL”) and tax credit carryforwards as of the two years ended December 31 follows: Gross Amount Valuation Allowance Expiration 2018 New Zealand subsidiary NOL carryforwards $31,052 — None U.S. net deferred tax asset 24,284 (24,284 ) None Cellulosic Biofuel Producer Credit 14,555 (14,555 ) 2019 Total Valuation Allowance ($38,839 ) 2017 New Zealand subsidiary NOL carryforwards $137,949 — None U.S. net deferred tax asset 20,248 (20,248 ) None Cellulosic Biofuel Producer Credit 14,641 (14,641 ) 2019 Total Valuation Allowance ($34,889 )
Summary of Income Tax Contingencies	A reconciliation of the beginning and ending unrecognized tax benefits for the three years ended December 31 follows: 2018 2017 2016 Balance at January 1, — $135 $135 Decreases related to prior year tax positions (a) — (135 ) — Increases related to prior year tax positions — — — Balance at December 31, — — $135
Summary of Income Tax Examinations	The following table provides detail of the tax years that remain open to examination by the IRS and other significant taxing jurisdictions: Taxing Jurisdiction Open Tax Years U.S. Internal Revenue Service 2015 - 2017 New Zealand Inland Revenue 2013 - 2017

Guarantees (Tables)

Guarantees (Tables)	12 Months Ended
	Dec. 31, 2018
Guarantees [Abstract]
Schedule of Guarantor Obligations	The Company provides financial guarantees as required by creditors, insurance programs, and various governmental agencies. As of December 31, 2018 , the following financial guarantees were outstanding: Financial Commitments Maximum Potential Payment Carrying Amount of Liability Standby letters of credit (a) $10,176 — Guarantees (b) 2,254 43 Surety bonds (c) 3,185 — Total financial commitments $15,615 $43 (a) Approximately $9.2 million of the standby letters of credit serve as credit support for infrastructure at the Company’s Wildlight development project. The remaining letters of credit support various insurance related agreements, primarily workers’ compensation. These letters of credit will expire at various dates during 2019 and will be renewed as required. (b) In conjunction with a timberland sale and note monetization in 2004, the Company issued a make-whole agreement pursuant to which it guaranteed $2.3 million of obligations of a special-purpose entity that was established to complete the monetization. At December 31, 2018 , the Company has recorded a de minimis liability to reflect the fair market value of its obligation to perform under the make-whole agreement. (c)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table provides details of the calculation of basic and diluted EPS for the three years ended December 31 : 2018 2017 2016 Net Income $117,330 $161,579 $217,770 Less: Net income attributable to noncontrolling interest (15,114 ) (12,737 ) (5,798 ) Net income attributable to Rayonier Inc. $102,216 $148,842 $211,972 Shares used for determining basic earnings per common share 129,043,627 127,367,608 122,585,200 Dilutive effect of: Stock options 71,276 91,956 92,473 Performance and restricted shares 575,328 350,385 134,650 Shares used for determining diluted earnings per common share 129,690,231 127,809,949 122,812,323 Basic earnings per common share attributable to Rayonier Inc.: $0.79 $1.17 $1.73 Diluted earnings per common share attributable to Rayonier Inc.: $0.79 $1.16 $1.73
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	2018 2017 2016 Anti-dilutive shares excluded from computations of diluted earnings per share: Stock options, performance and restricted shares 254,282 596,061 829,469

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Interest Rate Swaps	The following table contains information on the outstanding interest rate swaps as of December 31, 2018 : 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 % 1.63 % 3.83 % August 2015 9 years 180,000 Term Credit Agreement 2.35 % 1.63 % 3.98 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.90 % 3.50 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.90 % 3.50 % July 2016 10 years 100,000 Incremental Term Loan 1.26 % 1.90 % 3.16 % (a) All interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting. (b)
Schedule of derivatives on the Consolidated Statements of Income and Comprehensive Income	The following table demonstrates the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2018 , 2017 and 2016 . Location on Statement of Income and Comprehensive Income 2018 2017 2016 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive income (loss) ($4,357 ) $2,100 $867 Foreign currency option contracts Other comprehensive income (loss) (180 ) (52 ) 1,035 Interest rate swaps Other comprehensive income (loss) 8,296 4,214 21,422 Derivatives designated as a net investment hedge: Foreign currency exchange contract Other comprehensive income (loss) (344 ) — — Foreign currency option contracts Other comprehensive income (loss) — — (4,606 ) Derivatives not designated as hedging instruments: Foreign currency exchange contracts Other operating income, net — — 895 Interest income and miscellaneous income (expense), net 2,183 47 — Foreign currency option contracts Other operating income, net — — 258 Carbon options Interest income and miscellaneous income (expense), net (158 ) — — Interest rate swaps Interest income and miscellaneous income (expense), net — — (1,219 )
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 at December 31, 2018 and 2017 : Notional Amount 2018 2017 Derivatives designated as cash flow hedges: Foreign currency exchange contracts $69,950 $107,400 Foreign currency option contracts 24,000 48,000 Interest rate swaps 650,000 650,000 Derivatives not designated as hedging instruments: Foreign currency exchange contracts 9,396 18,439 Carbon options (a) 2,517 — (a) Notional amount for carbon options is calculated as the number of units outstanding multiplied by the spot price as of December 31, 2018
Schedule of Derivative Instruments in Statement of Financial Position	The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2018 and 2017 . Changes in balances of derivative financial instruments are recorded as operating activities in the Consolidated Statements of Cash Flows: Fair Value Assets (Liabilities) (a) Location on Balance Sheet 2018 2017 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other current assets — $2,286 Other assets — 538 Other current liabilities (1,569 ) (37 ) Foreign currency option contracts Other current assets 217 389 Other assets 102 137 Other current liabilities (106 ) (119 ) Other non-current liabilities (68 ) (55 ) Interest rate swaps Other assets 23,735 17,473 Other non-current liabilities — (2,033 ) Derivatives not designated as hedging instruments: Foreign currency exchange contracts Other current assets 152 209 Other current liabilities (24 ) (189 ) Carbon options (a) Other current liabilities (322 ) — Total derivative contracts: Other current assets $369 $2,884 Other assets 23,837 18,148 Total derivative assets $24,206 $21,032 Other current liabilities (2,021 ) (345 ) Other non-current liabilities (68 ) (2,088 ) Total derivative liabilities ($2,089 ) ($2,433 ) (a) See Note 14 — Fair Value Measurements

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The following table presents the carrying amount and estimated fair values of financial instruments held by the Company at December 31, 2018 and 2017 , using market information and what the Company believes to be appropriate valuation methodologies under generally accepted accounting principles: December 31, 2018 December 31, 2017 Asset (liability) (a) Carrying Amount Fair Value Carrying Amount Fair Value Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents $148,374 $148,374 — $112,653 $112,653 — Restricted cash (b) 8,080 8,080 — 59,703 59,703 — Current maturities of long-term debt — — — (3,375 ) — (3,375 ) Long-term debt (c) (972,567 ) — (975,845 ) (1,022,004 ) — (1,030,135 ) Interest rate swaps (d) 23,735 — 23,735 15,440 — 15,440 Foreign currency exchange contracts (d) (1,442 ) — (1,442 ) 2,807 — 2,807 Foreign currency option contracts (d) 145 — 145 352 — 352 Carbon options contracts (d) (322 ) — (322 ) — — — (a) The Company did not have Level 3 assets or liabilities at December 31, 2018 and 2017 . (b) Restricted cash represents the proceeds from like-kind exchange sales deposited with a third-party intermediary and cash held in escrow for a real estate sale. See Note 19 - Restricted Cash for additional information. (c) The carrying amount of long-term debt is presented net of capitalized debt costs on non-revolving debt. See Note 5 — Debt for additional information. (d) See Note 13 — Derivative Financial Instruments and Hedging Activities

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Schedule of Changes in Projected Benefit Obligations	Funded Status at End of Year: Net accrued benefit cost ($28,610 ) ($30,609 ) ($1,303 ) ($1,420 ) Pension Postretirement 2018 2017 2018 2017 Change in Projected Benefit Obligation Projected benefit obligation at beginning of year $87,986 $81,752 $1,420 $1,285 Service cost — — 7 6 Interest cost 3,021 3,259 38 53 Actuarial (gain) loss (8,160 ) 6,123 (149 ) 89 Benefits paid (3,288 ) (3,148 ) (13 ) (13 ) Projected benefit obligation at end of year $79,559 $87,986 $1,303 $1,420
Schedule of Changes in Fair Value of Plan Assets	Change in Plan Assets Fair value of plan assets at beginning of year $57,377 $51,114 — — Actual return on plan assets (4,638 ) 9,909 — — Employer contributions 2,829 90 13 13 Benefits paid (4,002 ) (3,148 ) (13 ) (13 ) Other expense (617 ) (588 ) — — Fair value of plan assets at end of year $50,949 $57,377 — —
Schedule of Amounts Recognized in Balance Sheet	Amounts Recognized in the Consolidated Balance Sheets Consist of: Current liabilities ($86 ) ($92 ) ($27 ) ($32 ) Noncurrent liabilities (28,524 ) (30,517 ) (1,276 ) (1,388 ) Net amount recognized ($28,610 ) ($30,609 ) ($1,303 ) ($1,420 )
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Net gains or losses recognized in other comprehensive income for the three years ended December 31 are as follows: Pension Postretirement 2018 2017 2016 2018 2017 2016 Net (losses) gains ($1,743 ) ($583 ) $3,119 $149 ($89 ) ($99 ) Net gains or losses and prior service costs or credits reclassified from other comprehensive income and recognized as a component of pension and postretirement expense for the three years ended December 31 are as follows: Pension Postretirement 2018 2017 2016 2018 2017 2016 Amortization of losses (gains) $673 $466 $2,526 $2 ($1 ) ($13 ) Amortization of prior service cost — — — — — —
Schedule of Net Periodic Benefit Cost Not yet Recognized	Net losses that have not yet been included in pension and postretirement expense for the two years ended December 31, which have been recognized as a component of AOCI are as follows: Pension Postretirement 2018 2017 2018 2017 Net (losses) gains ($23,252 ) ($22,183 ) ($7 ) ($157 ) Deferred income tax benefit 1,216 1,927 6 6 AOCI ($22,036 ) ($20,256 ) ($1 ) ($151 )
Schedule of Projected Benefit Obligation and Accumulated Benefit Obligation in Excess of Fair Value	For pension and postretirement plans with accumulated benefit obligations in excess of plan assets, the following table sets forth the projected and accumulated benefit obligations and the fair value of plan assets for the two years ended December 31: 2018 2017 Projected benefit obligation $79,559 $87,986 Accumulated benefit obligation 79,559 87,986 Fair value of plan assets 50,949 57,377
Schedule of Net Benefit Costs	The following tables set forth the components of net pension and postretirement benefit (credit) cost that have been recognized during the three years ended December 31 : Pension Postretirement 2018 2017 2016 2018 2017 2016 Components of Net Periodic Benefit (Credit) Cost Service cost — — $1,307 $7 $6 $4 Interest cost 3,021 3,259 3,474 38 53 42 Expected return on plan assets (3,934 ) (3,781 ) (4,030 ) — — — Amortization of prior service cost — — — — — — Amortization of losses (gains) 673 466 2,526 2 (1 ) (13 ) Net periodic benefit (credit) cost ($240 ) ($56 ) $3,277 $47 $58 $33
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year	The estimated pre-tax amounts that will be amortized from AOCI into net periodic benefit cost in 2019 are as follows: Pension Postretirement Amortization of loss $633 —
Schedule of Assumptions Used	The following table sets forth the principal assumptions inherent in the determination of benefit obligations and net periodic benefit cost of the pension and postretirement benefit plans as of December 31 : Pension Postretirement 2018 2017 2016 2018 2017 2016 Assumptions used to determine benefit obligations at December 31: Discount rate 4.11 % 3.48 % 4.01 % 4.18 % 3.56 % 4.12 % Rate of compensation increase — — 4.16 % 4.50 % 4.50 % 4.50 % Assumptions used to determine net periodic benefit cost for years ended December 31: Discount rate 3.48 % 4.01 % 4.20 % 3.56 % 4.12 % 4.34 % Expected long-term return on plan assets 7.17 % 7.17 % 7.70 % — — — Rate of compensation increase — — 4.16 % 4.50 % 4.50 % 4.50 %
Schedule of Allocation of Plan Assets	The Company’s pension plans’ asset allocation (excluding short-term investments) at December 31, 2018 and 2017 , and target allocation ranges by asset category are as follows: Percentage of Plan Assets Target Allocation Range Asset Category 2018 2017 Domestic equity securities 39 % 41 % 35-45% International equity securities 28 % 26 % 20-30% Domestic fixed income securities 26 % 26 % 25-29% International fixed income securities 5 % 4 % 3-7% Real estate fund 2 % 3 % 2-4% Total 100 % 100 % Note 1 — Summary of Significant Accounting Policies for definition), the assets of the plans as of December 31, 2018 and 2017 . Fair Value at December 31, 2018 Fair Value at December 31, 2017 Asset Category Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investments at Fair Value: Mutual Funds — — — — $8,986 — — $8,986 Investments at Net Asset Value: Separate Investment Accounts 50,949 48,391 Total Investments at Fair Value $50,949 $57,377
Schedule of Expected Benefit Payments	Expected benefit payments to be made by the Company for the next 10 years are as follows: Pension Benefits Postretirement Benefits 2019 $3,512 $36 2020 3,717 38 2021 3,836 41 2022 4,035 44 2023 4,114 47 2024-2028 22,167 278

Incentive Stock Plans (Tables)

Incentive Stock Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs	A summary of the Company’s stock-based compensation cost is presented below: 2018 2017 2016 Selling and general expenses $5,623 $4,784 $4,607 Cost of sales 704 556 487 Timber and Timberlands, net (a) 101 56 42 Total stock-based compensation $6,428 $5,396 $5,136 Tax benefit recognized related to stock-based compensation expense (b) $338 $249 $483 (a) Represents amounts capitalized as part of the overhead allocation of timber-related costs. (b)
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	A summary of the Company’s restricted shares is presented below: 2018 2017 2016 Restricted shares granted 87,924 97,643 106,326 Weighted average price of restricted shares granted $35.44 $28.18 $25.08 Intrinsic value of restricted stock outstanding (a) 8,792 8,906 6,177 Grant date fair value of restricted stock vested 1,582 1,198 2,248 Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on restricted shares vested $334 $176 $178 (a) Intrinsic value of restricted stock outstanding is based on the market price of the Company’s stock at December 31, 2018 . 2018 Number of Shares Weighted Average Grant Date Fair Value Non-vested Restricted Shares at January 1, 281,569 $29.32 Granted 87,924 35.44 Vested (49,780 ) 31.78 Cancelled (2,214 ) 28.16 Non-vested Restricted Shares at December 31, 317,499 $30.64
Schedule of Nonvested Performance-based Units Activity	A summary of the Company’s performance share units is presented below: 2018 2017 2016 Common shares reserved for performance shares granted during year 213,154 226,448 250,584 Weighted average fair value of performance share units granted $40.27 $32.17 $28.79 Intrinsic value of outstanding performance share units (a) 9,229 10,414 7,482 Fair value of performance shares vested 5,670 — — Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on performance shares vested 2,651 — — (a) Intrinsic value of outstanding performance share units is based on the market price of the Company's stock at December 31, 2018 . 2018 Number of Units Weighted Average Grant Date Fair Value Outstanding Performance Share units at January 1, 329,239 $30.21 Granted 106,577 40.27 Units Distributed (102,523 ) 29.62 Other Cancellations/Adjustments (11 ) 30.24 Outstanding Performance Share units at December 31, 333,282 $33.60 Expected volatility was estimated using daily returns on the Company’s common shares for the three-year period ending on the grant date. The risk-free rate was based on the 3-year U.S. treasury rate on the date of the award. The dividend yield was not used to calculate fair value as awards granted receive dividend equivalents. The following table provides an overview of the assumptions used in calculating the fair value of the awards granted for the three years ended December 31, 2018 : 2018 2017 2016 Expected volatility 20.8 % 23.3 % 25.4 % Risk-free rate 2.4 % 1.5 % 0.9 %
Schedule of Share-based Compensation, Stock Options, Activity	A summary of the status of the Company’s stock options as of and for the year ended December 31, 2018 is presented below. 2018 Number of Shares Weighted Average Exercise Price (per common share) Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Options outstanding at January 1, 841,066 $30.13 Granted — — Exercised (322,913 ) 26.61 Cancelled or expired (8,031 ) 34.32 Options outstanding at December 31, 510,122 32.29 3.6 $392 Options exercisable at December 31, 510,122 $32.29 3.6 $392 A summary of additional information pertaining to the Company’s stock options is presented below: 2018 2017 2016 Intrinsic value of options exercised (a) $2,618 $1,993 $539 Fair value of options vested 6,832 6,138 1,317 Cash received from exercise of options 8,591 4,751 1,576 (a)

Other Operating Income, Net (Ta

Other Operating Income, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
Interest and Other Income (Expense)	The following table provides the composition of Other operating income, net for the three years ended December 31 : 2018 2017 2016 Foreign currency (loss) income $238 ($394 ) $283 Gain (loss) on sale or disposal of property plant & equipment 7 (68 ) 85 Gain (loss) on foreign currency exchange and option contracts 132 3,438 (645 ) Gain on foreign currency derivatives (a) — — 1,153 Income from sale of unused Internet Protocol addresses 646 — — Log trading marketing fees 286 1,222 951 Income from New Zealand Timber settlement — 420 — Deferred payments related to prior land sales — — 8,658 Costs related to business combination — — (1,316 ) Miscellaneous expense, net (169 ) (225 ) (83 ) Total $1,140 $4,393 $9,086 (a)

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory	As of December 31, 2018 and 2017 , Rayonier’s inventory was solely comprised of finished goods, as follows: 2018 2017 Finished goods inventory Real estate inventory (a) $11,919 $18,350 Log inventory 3,784 5,791 Total inventory $15,703 $24,141 (a) Represents cost of HBU real estate (including capitalized development investments) expected to be sold within 12 months. See Note 6 — Higher and Better Use Timberlands and Real Estate Development Investments for additional information.

Restricted Cash (Tables)

Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2018
Restricted Cash and Investments [Abstract]
Restricted Cash	The following table contains the amount of restricted cash recorded in the Consolidated Balance Sheets and Consolidated Statements of Cash Flows for the years ended December 31: 2018 2017 Restricted cash deposited with LKE intermediary $7,530 $59,153 Restricted cash held in escrow 550 550 Total restricted cash shown in the Consolidated Balance Sheets 8,080 59,703 Cash and cash equivalents 148,374 112,653 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $156,454 $172,356

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Other Assets [Abstract]
Schedule of Changes in Goodwill	Changes in goodwill for the years ended December 31, 2018 and 2017 were: 2018 2017 Balance, January 1 (net of $0 of accumulated impairment) $8,776 $8,679 Changes to carrying amount Acquisitions — — Impairment — — Foreign currency adjustment (469 ) 97 Balance, December 31 (net of $0 of accumulated impairment) $8,307 $8,776
Schedule of Prepaid Logging and Secondary Roads [Table Text Block]	As of December 31, 2018 and 2017 , Rayonier’s prepaid logging and secondary roads follows: 2018 2017 Long-term and prepaid and secondary roads Pacific Northwest long-term prepaid roads $4,000 $3,696 New Zealand long-term secondary roads 3,072 2,667 Total long-term prepaid and secondary roads $7,072 $6,363
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	As of December 31, 2018 and 2017 , Rayonier’s deferred financing costs related to revolving debt follows: 2018 2017 Deferred financing costs related to revolving debt $213 $341
Schedule of Capitalized Software Costs [Table Text Block]	As of December 31, 2018 and 2017 , Rayonier’s capitalized software costs follows: 2018 2017 Capitalized software costs $3,776 $4,092

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income/(Loss) (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in AOCI by component for the years ended December 31, 2018 and 2017 . All amounts are presented net of tax effect and exclude portions attributable to noncontrolling interest. Foreign currency translation gains/(losses) Net investment hedges of New Zealand JV Cash flow hedges Employee benefit plans Total Balance as of December 31, 2016 $8,559 $1,665 $10,831 ($20,199 ) $856 Other comprehensive income/(loss) before reclassifications 7,416 — 7,321 (673 ) 14,064 Amounts reclassified from accumulated other comprehensive income — — (1,968 ) 465 (1,503 ) Net other comprehensive income/(loss) 7,416 — 5,353 (208 ) 12,561 Balance as of December 31, 2017 $15,975 $1,665 $16,184 ($20,407 ) $13,417 Other comprehensive (loss)/income before reclassifications (16,985 ) (344 ) 5,944 (a) (1,594 ) (12,979 ) Amounts reclassified from accumulated other comprehensive income — — (163 ) (36 ) (b) (199 ) Net other comprehensive (loss)/income (16,985 ) (344 ) 5,781 (1,630 ) (13,178 ) Balance as of December 31, 2018 ($1,010 ) $1,321 $21,965 ($22,037 ) $239 (a) Includes $8.3 million of other comprehensive gain related to interest rate swaps. See Note 13 — Derivative Financial Instruments and Hedging Activities for additional information. (b) This component of other comprehensive income is included in the computation of net periodic pension cost. See Note 15 — Employee Benefit Plans for additional information. Additionally, this component includes a $0.7 million adjustment related to the adoption of ASU 2018-02. See Note 1 — Summary of Significant Accounting Policies
Reclassification out of Accumulated Other Comprehensive Income	The following table presents details of the amounts reclassified in their entirety from AOCI for the years ended December 31, 2018 and 2017 : Details about accumulated other comprehensive income (loss) components Amount reclassified from accumulated other comprehensive income (loss) Affected line item in the income statement 2018 2017 Realized (gain) loss on foreign currency exchange contracts ($121 ) ($2,631 ) Other operating income, net Realized (gain) loss on foreign currency option contracts (173 ) (919 ) Other operating income, net Noncontrolling interest 68 817 Comprehensive income (loss) attributable to noncontrolling interest Income tax expense (benefit) from foreign currency contracts 63 765 Income tax expense benefit (Note 9) Net (gain) loss on cash flow hedges reclassified from accumulated other comprehensive income ($163 ) ($1,968 )

Quarterly Results for 2018 an_2

Quarterly Results for 2018 and 2017 (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Quarter Ended Total Year (thousands of dollars, except per share amounts) Mar. 31 June 30 Sept. 30 Dec. 31 2018 Sales $203,196 $245,906 $200,890 $166,146 $816,138 Cost of sales (138,488 ) (184,418 ) (143,261 ) (139,092 ) (605,259 ) Net Income 42,706 39,338 30,639 4,647 117,330 Net Income attributable to Rayonier Inc. 40,539 36,258 23,432 1,987 102,216 Basic EPS attributable to Rayonier Inc. $0.31 $0.28 $0.18 $0.02 $0.79 Diluted EPS attributable to Rayonier Inc. $0.31 $0.28 $0.18 $0.02 $0.79 2017 Sales $194,491 $200,964 $184,419 $239,722 $819,596 Cost of sales (136,828 ) (144,610 ) (136,983 ) (149,832 ) (568,253 ) Net Income 35,083 30,773 28,803 66,920 161,579 Net Income attributable to Rayonier Inc. 33,843 26,161 24,688 64,150 148,842 Basic EPS attributable to Rayonier Inc. $0.27 $0.20 $0.19 $0.50 $1.17 Diluted EPS attributable to Rayonier Inc. $0.27 $0.20 $0.19 $0.50 $1.16

Consolidating Financial State_2

Consolidating Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Consolidating of Income Statement	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated SALES — — $816,138 — $816,138 Costs and Expenses Cost of sales — — (605,259 ) — (605,259 ) Selling and general expenses — (19,812 ) (22,139 ) — (41,951 ) Other operating (expense) income, net (12 ) 543 609 — 1,140 (12 ) (19,269 ) (626,789 ) — (646,070 ) OPERATING (LOSS) INCOME (12 ) (19,269 ) 189,349 — 170,068 Interest expense (12,556 ) (19,155 ) (355 ) — (32,066 ) Interest and miscellaneous income (expense), net 6,648 3,863 (5,947 ) — 4,564 Equity in income from subsidiaries 108,136 144,916 — (253,052 ) — INCOME BEFORE INCOME TAXES 102,216 110,355 183,047 (253,052 ) 142,566 Income tax expense — (2,219 ) (23,017 ) — (25,236 ) NET INCOME 102,216 108,136 160,030 (253,052 ) 117,330 Less: Net income attributable to noncontrolling interest — — (15,114 ) — (15,114 ) NET INCOME ATTRIBUTABLE TO RAYONIER INC. 102,216 108,136 144,916 (253,052 ) 102,216 OTHER COMPREHENSIVE (LOSS) INCOME Foreign currency translation adjustment, net of income tax (17,329 ) 386 (23,145 ) 17,329 (22,759 ) Cash flow hedges, net of income tax 5,782 8,296 (3,267 ) (5,782 ) 5,029 Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax (1,630 ) (1,630 ) — 1,630 (1,630 ) Total other comprehensive (loss) income (13,177 ) 7,052 (26,412 ) 13,177 (19,360 ) COMPREHENSIVE INCOME 89,039 115,188 133,618 (239,875 ) 97,970 Less: Comprehensive income attributable to noncontrolling interest — — (8,931 ) — (8,931 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $89,039 $115,188 $124,687 ($239,875 ) $89,039 CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated SALES — — $819,596 — $819,596 Costs and Expenses Cost of sales — — (568,253 ) — (568,253 ) Selling and general expenses — (16,797 ) (23,448 ) — (40,245 ) Other operating (expense) income, net — (479 ) 4,872 — 4,393 — (17,276 ) (586,829 ) — (604,105 ) OPERATING (LOSS) INCOME — (17,276 ) 232,767 — 215,491 Interest expense (12,556 ) (19,699 ) (1,816 ) — (34,071 ) Interest and miscellaneous income (expense), net 9,679 2,878 (10,717 ) — 1,840 Equity in income from subsidiaries 151,719 186,388 — (338,107 ) — INCOME BEFORE INCOME TAXES 148,842 152,291 220,234 (338,107 ) 183,260 Income tax expense — (572 ) (21,109 ) — (21,681 ) NET INCOME 148,842 151,719 199,125 (338,107 ) 161,579 Less: Net income attributable to noncontrolling interest — — (12,737 ) — (12,737 ) NET INCOME ATTRIBUTABLE TO RAYONIER INC. 148,842 151,719 186,388 (338,107 ) 148,842 OTHER COMPREHENSIVE INCOME Foreign currency translation adjustment, net of income tax 7,416 — 9,114 (7,416 ) 9,114 Cash flow hedges, net of income tax 5,353 4,214 1,479 (5,353 ) 5,693 Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax (208 ) (208 ) — 208 (208 ) Total other comprehensive income 12,561 4,006 10,593 (12,561 ) 14,599 COMPREHENSIVE INCOME 161,403 155,725 209,718 (350,668 ) 176,178 Less: Comprehensive income attributable to noncontrolling interest — — (14,775 ) — (14,775 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $161,403 $155,725 $194,943 ($350,668 ) $161,403 CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated SALES — — $815,915 — $815,915 Costs and Expenses Cost of sales — — (526,439 ) — (526,439 ) Selling and general expenses — (15,253 ) (27,532 ) — (42,785 ) Other operating (expense) income, net — (448 ) 9,534 — 9,086 — (15,701 ) (544,437 ) — (560,138 ) OPERATING (LOSS) INCOME — (15,701 ) 271,478 — 255,777 Interest expense (12,555 ) (16,775 ) (2,915 ) — (32,245 ) Interest and miscellaneous income (expense), net 8,613 2,750 (12,061 ) — (698 ) Equity in income from subsidiaries 215,914 246,193 — (462,107 ) — INCOME BEFORE INCOME TAXES 211,972 216,467 256,502 (462,107 ) 222,834 Income tax expense — (553 ) (4,511 ) — (5,064 ) NET INCOME 211,972 215,914 251,991 (462,107 ) 217,770 Less: Net income attributable to noncontrolling interest — — (5,798 ) — (5,798 ) NET INCOME ATTRIBUTABLE TO RAYONIER INC. 211,972 215,914 246,193 (462,107 ) 211,972 OTHER COMPREHENSIVE INCOME Foreign currency translation adjustment, net of income tax 2,780 (4,606 ) 10,930 (2,782 ) 6,322 Cash flow hedges, net of income tax 22,607 21,422 1,401 (22,608 ) 22,822 Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax 5,533 5,533 — (5,533 ) 5,533 Total other comprehensive income 30,920 22,349 12,331 (30,923 ) 34,677 COMPREHENSIVE INCOME 242,892 238,263 264,322 (493,030 ) 252,447 Less: Comprehensive income attributable to noncontrolling interest — — (9,555 ) — (9,555 ) COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. $242,892 $238,263 $254,767 ($493,030 ) $242,892
Schedule of Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEETS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents $361 $104,777 $43,236 — $148,374 Accounts receivable, less allowance for doubtful accounts — 3,752 22,399 — 26,151 Inventory — — 15,703 — 15,703 Prepaid logging roads — — 11,976 — 11,976 Prepaid expenses — 977 4,063 — 5,040 Other current assets — 108 501 — 609 Total current assets 361 109,614 97,878 — 207,853 TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION — — 2,401,327 — 2,401,327 HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS — — 85,609 — 85,609 NET PROPERTY, PLANT AND EQUIPMENT — 16,940 5,811 — 22,751 RESTRICTED CASH — — 8,080 — 8,080 INVESTMENT IN SUBSIDIARIES 1,833,899 3,022,875 — (4,856,774 ) — INTERCOMPANY RECEIVABLE 49,461 (638,424 ) 588,963 — — OTHER ASSETS 2 19,244 35,800 — 55,046 TOTAL ASSETS $1,883,723 $2,530,249 $3,223,468 ($4,856,774 ) $2,780,666 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable — $1,616 $16,403 — $18,019 Accrued taxes — 8 3,170 — 3,178 Accrued payroll and benefits — 5,848 4,568 — 10,416 Accrued interest 3,047 1,960 — — 5,007 Deferred revenue — — 10,447 — 10,447 Other current liabilities — 216 16,258 — 16,474 Total current liabilities 3,047 9,648 50,846 — 63,541 LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 323,803 648,764 — — 972,567 PENSION AND OTHER POSTRETIREMENT BENEFITS — 30,484 (684 ) — 29,800 OTHER NON-CURRENT LIABILITIES — 7,454 52,754 — 60,208 INTERCOMPANY PAYABLE — — — — — TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,556,873 1,833,899 3,022,875 (4,856,774 ) 1,556,873 Noncontrolling interest — — 97,677 — 97,677 TOTAL SHAREHOLDERS’ EQUITY 1,556,873 1,833,899 3,120,552 (4,856,774 ) 1,654,550 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $1,883,723 $2,530,249 $3,223,468 ($4,856,774 ) $2,780,666 CONDENSED CONSOLIDATING BALANCE SHEETS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents $48,564 $25,042 $39,047 — $112,653 Accounts receivable, less allowance for doubtful accounts — 3,726 23,967 — 27,693 Inventory — — 24,141 — 24,141 Prepaid logging roads — — 11,207 — 11,207 Prepaid expenses — 759 4,027 — 4,786 Other current assets — 14 3,033 — 3,047 Total current assets 48,564 29,541 105,422 — 183,527 TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION — — 2,462,066 — 2,462,066 HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS — — 80,797 — 80,797 NET PROPERTY, PLANT AND EQUIPMENT — 21 23,357 — 23,378 RESTRICTED CASH — — 59,703 — 59,703 INVESTMENT IN SUBSIDIARIES 1,531,156 2,814,408 — (4,345,564 ) — INTERCOMPANY RECEIVABLES 40,067 (628,167 ) 588,100 — — OTHER ASSETS 2 12,680 36,328 — 49,010 TOTAL ASSETS $1,619,789 $2,228,483 $3,355,773 ($4,345,564 ) $2,858,481 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable — $2,838 $22,310 — $25,148 Current maturities of long-term debt — — 3,375 — 3,375 Accrued taxes — 48 3,733 — 3,781 Accrued payroll and benefits — 5,298 4,364 — 9,662 Accrued interest 3,047 1,995 12 — 5,054 Deferred revenue — — 9,721 — 9,721 Other current liabilities — 564 11,243 — 11,807 Total current liabilities 3,047 10,743 54,758 — 68,548 LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS 323,434 663,570 35,000 — 1,022,004 PENSION AND OTHER POSTRETIREMENT BENEFITS — 32,589 (684 ) — 31,905 OTHER NON-CURRENT LIABILITIES — 9,386 33,698 — 43,084 INTERCOMPANY PAYABLE (299,715 ) (18,961 ) 318,676 — — TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY 1,593,023 1,531,156 2,814,408 (4,345,564 ) 1,593,023 Noncontrolling interest — — 99,917 — 99,917 TOTAL SHAREHOLDERS’ EQUITY 1,593,023 1,531,156 2,914,325 (4,345,564 ) 1,692,940 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $1,619,789 $2,228,483 $3,355,773 ($4,345,564 ) $2,858,481
Schedule of Condensed Consolidating Cash Flows Statement	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES $284,781 $182,057 ($156,742 ) — $310,096 INVESTING ACTIVITIES Capital expenditures — (59 ) (62,266 ) — (62,325 ) Real estate development investments — — (9,501 ) — (9,501 ) Purchase of timberlands — — (57,608 ) — (57,608 ) Investment in subsidiaries — 6,128 — (6,128 ) — Other — — (3,421 ) — (3,421 ) CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES — 6,069 (132,796 ) (6,128 ) (132,855 ) FINANCING ACTIVITIES Issuance of debt — — 1,014 — 1,014 Repayment of debt — (50,000 ) (4,416 ) — (54,416 ) Dividends paid (136,698 ) (74 ) — — (136,772 ) Proceeds from the issuance of common shares under incentive stock plan 8,591 — — — 8,591 Repurchase of common shares (2,984 ) — — — (2,984 ) Proceeds from shareholder distribution hedge — — 2,025 — 2,025 Distribution to minority shareholder — — (11,172 ) — (11,172 ) Issuance of intercompany notes 299,715 18,961 (318,676 ) — — Intercompany distributions (501,608 ) (77,278 ) 572,758 6,128 — CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES (332,984 ) (108,391 ) 241,533 6,128 (193,714 ) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — 571 — 571 CASH, CASH EQUIVALENTS AND RESTRICTED CASH Change in cash, cash equivalents and restricted cash (48,203 ) 79,735 (47,434 ) — (15,902 ) Balance, beginning of year 48,564 25,042 98,750 — 172,356 Balance, end of year $361 $104,777 $51,316 — $156,454 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES ($48,104 ) $111,431 $192,957 — $256,284 INVESTING ACTIVITIES Capital expenditures — — (65,345 ) — (65,345 ) Real estate development investments — — (15,784 ) — (15,784 ) Purchase of timberlands — — (242,910 ) — (242,910 ) Net proceeds from large disposition of timberlands — — 95,243 — 95,243 Rayonier office building under construction — — (6,084 ) — (6,084 ) Investment in subsidiaries — 38,546 — (38,546 ) — Other — — (373 ) — (373 ) CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES — 38,546 (235,253 ) (38,546 ) (235,253 ) FINANCING ACTIVITIES Issuance of debt — 25,000 38,389 — 63,389 Repayment of debt — (15,000 ) (85,157 ) — (100,157 ) Dividends paid (127,069 ) — — — (127,069 ) Proceeds from the issuance of common shares under incentive stock plan 4,751 — — — 4,751 Proceeds from the issuance of common shares from equity offering, net of costs 152,390 — — — 152,390 Repurchase of common shares (176 ) — — — (176 ) Issuance of intercompany notes (32,000 ) — 32,000 — — Intercompany distributions 77,319 (144,396 ) 28,531 38,546 — CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES 75,215 (134,396 ) 13,763 38,546 (6,872 ) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — 580 — 580 CASH, CASH EQUIVALENTS AND RESTRICTED CASH Change in cash, cash equivalents and restricted cash 27,111 15,581 (27,953 ) — 14,739 Balance, beginning of year 21,453 9,461 126,703 — 157,617 Balance, end of year $48,564 $25,042 $98,750 — $172,356 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Rayonier Inc. Subsidiary Guarantors Non- guarantors Consolidating Adjustments Total Consolidated CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES ($7,480 ) $113,775 $97,506 — $203,801 INVESTING ACTIVITIES Capital expenditures — — (58,723 ) — (58,723 ) Real estate development investments — — (8,746 ) — (8,746 ) Purchase of timberlands — — (366,481 ) — (366,481 ) Assets purchased in business acquisition — — (887 ) — (887 ) Net proceeds from large disposition of timberlands — — 203,862 — 203,862 Rayonier office building under construction — — (6,307 ) — (6,307 ) Investment in subsidiaries — (293,820 ) — 293,820 — Other — — 2,311 — 2,311 CASH USED FOR INVESTING ACTIVITIES — (293,820 ) (234,971 ) 293,820 (234,971 ) FINANCING ACTIVITIES Issuance of debt — 548,000 147,916 — 695,916 Repayment of debt — (140,000 ) (318,415 ) — (458,415 ) Dividends paid (122,845 ) — — — (122,845 ) Proceeds from the issuance of common shares under incentive stock plan 1,576 — — — 1,576 Repurchase of common shares (690 ) — — — (690 ) Debt issuance costs — (818 ) — — (818 ) Issuance of intercompany notes (12,000 ) — 12,000 — — Intercompany distributions 160,597 (230,893 ) 364,116 (293,820 ) — Other (177 ) — (124 ) — (301 ) CASH PROVIDED BY FINANCING ACTIVITIES 26,461 176,289 205,493 (293,820 ) 114,423 EFFECT OF EXCHANGE RATE CHANGES ON CASH — — (938 ) — (938 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH Change in cash, cash equivalents and restricted cash 18,981 (3,756 ) 67,090 — 82,315 Balance, beginning of year 2,472 13,217 59,613 — 75,302 Balance, end of year $21,453 $9,461 $126,703 — $157,617

Nature of Business Operations (

Nature of Business Operations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)asegment	Dec. 31, 2017USD ($)a	Dec. 31, 2016USD ($)	Mar. 31, 2016	Mar. 03, 2016	Apr. 30, 2013	Apr. 04, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Timberland owned or leased (acres)	2,600,000
Number of reportable business segments | segment	5
Timberlands acquired (acres)	29,857	109,533
Payments to acquire timberlands | $	$ 57,608	$ 242,910	$ 366,481
Savannah, Georgia to Daytona Beach, Florida
Revenues from External Customers and Long-Lived Assets [Line Items]
Timberland owned or leased (acres)	200,000
New Zealand
Revenues from External Customers and Long-Lived Assets [Line Items]
Timberlands acquired (acres)	3,833	7,546
Payments to acquire timberlands | $	$ 11,665	$ 21,376
New Zealand JV | New Zealand
Revenues from External Customers and Long-Lived Assets [Line Items]
Timberland owned or leased (acres)	408,000
Rayonier
Revenues from External Customers and Long-Lived Assets [Line Items]
Additional interest acquired (as a percent)							39.00%
Ownership interest (as a percent)				77.00%	77.00%	65.00%	65.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Basis of Presentation and Principles of Consolidation (Details)	Mar. 31, 2016	Mar. 03, 2016	Apr. 30, 2013	Apr. 04, 2013
Rayonier
Other Ownership Interests [Line Items]
Ownership percentage by parent	77.00%	77.00%	65.00%	65.00%
Non-controlling Interest
Other Ownership Interests [Line Items]
Noncontrolling interest ownership percentage by noncontrolling owners	23.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Time deposits	$ 0	$ 26,700,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Prepaid Logging Roads (Details)	12 Months Ended
	Dec. 31, 2018
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Harvested in months, to be recorded as prepaid logging roads	24 months
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Harvested in months, to be recorded as prepaid logging roads	60 months

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Capitalized Software Costs (Details) - Maximum	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Useful life	25 years
Software Costs
Property, Plant and Equipment [Line Items]
Useful life	5 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Property, Plant, Equipment and Depreciation (Details)	12 Months Ended
	Dec. 31, 2018
Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life	25 years
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Useful life	15 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Useful life	35 years
Land Improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Land Improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	30 years

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Impairment	$ 0	$ 0
New Zealand Timber
Segment Reporting Information [Line Items]
Impairment	$ 0

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2018method
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of primary methods or sales channels	2
Contract duration (or less)	1 year
Stumpage Pay-as-Cut
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment period after satisfaction of obligation	10 days
Stumpage Pay-as-Cut | Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Initial payment, percentage of estimated contract value	5.00%
Stumpage Pay-as-Cut | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Initial payment, percentage of estimated contract value	20.00%
Domestic | Total Delivered
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment period after satisfaction of obligation	30 days
Payment period after satisfaction of obligation, letter of credit	30 days

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Real Estate (Details)	Dec. 31, 2018
Accounting Policies [Abstract]
Deposit required	5.00%

Summary of Significant Accou_12

Summary of Significant Accounting Policies - Employee Benefit Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net liability position	$ (28,610)	$ (30,609)

Summary of Significant Accou_13

Summary of Significant Accounting Policies - Recently Adopted Accounting Pronouncements (Details) - Accounting Standards Update 2018-02 $ in Thousands	Dec. 31, 2017USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment due to adoption of ASU	$ 0
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment due to adoption of ASU	$ 711

Revenue (Contract Liabilities)

Revenue (Contract Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract balances, recognized during period	$ 9,004	$ 8,701

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue by Product) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									$ 815,044	$ 818,521	$ 814,877
Other Non-Timber Sales, Primarily Lease									1,094	1,075	1,038
Total Revenue	$ 166,146	$ 200,890	$ 245,906	$ 203,196	$ 239,722	$ 184,419	$ 200,964	$ 194,491	816,138	819,596	815,915
Large Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers										95,351	207,265
Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									136,947	117,364	121,236
Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									499,966	463,743	359,852
Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									3,433	3,912	6,052
Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									640,347	585,019	487,094
License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									17,395	16,877	15,095
Other Non-Timber Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									18,075	7,921	10,121
Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									652	1,378	1,369
Non-timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									36,122	26,176	26,585
Improved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									8,393	6,348	1,740
Unimproved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									8,621	16,405	5,540
Rural
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									22,689	18,632	18,672
Non-strategic / Timberlands
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									98,872	70,590	67,981
Real Estate
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									138,575	207,326	301,198
Operating Segments | Southern Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									169,178	143,704	150,434
Other Non-Timber Sales, Primarily Lease									817	806	758
Total Revenue									169,995	144,510	151,192
Operating Segments | Southern Timber | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									80,134	67,836	80,248
Operating Segments | Southern Timber | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									60,295	50,891	46,600
Operating Segments | Southern Timber | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									3,433	3,912	6,052
Operating Segments | Southern Timber | Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									143,863	122,639	132,854
Operating Segments | Southern Timber | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									16,285	16,004	14,313
Operating Segments | Southern Timber | Other Non-Timber Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									9,030	5,061	3,267
Operating Segments | Southern Timber | Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									0	0	0
Operating Segments | Southern Timber | Non-timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									25,315	21,065	17,580
Operating Segments | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									109,555	91,608	77,522
Other Non-Timber Sales, Primarily Lease									277	269	280
Total Revenue									109,832	91,877	77,802
Operating Segments | Pacific Northwest Timber | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									14,305	11,242	13,202
Operating Segments | Pacific Northwest Timber | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									92,166	77,477	61,985
Operating Segments | Pacific Northwest Timber | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									0	0	0
Operating Segments | Pacific Northwest Timber | Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									106,471	88,719	75,187
Operating Segments | Pacific Northwest Timber | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									709	646	503
Operating Segments | Pacific Northwest Timber | Other Non-Timber Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									2,375	2,243	1,832
Operating Segments | Pacific Northwest Timber | Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									0	0	0
Operating Segments | Pacific Northwest Timber | Non-timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									3,084	2,889	2,335
Operating Segments | New Zealand Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									249,014	223,299	176,041
Other Non-Timber Sales, Primarily Lease									0	0	0
Total Revenue									249,014	223,299	176,041
Operating Segments | New Zealand Timber | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									28,737	24,934	18,993
Operating Segments | New Zealand Timber | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									213,206	197,521	151,747
Operating Segments | New Zealand Timber | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									0	0	0
Operating Segments | New Zealand Timber | Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									241,943	222,455	170,740
Operating Segments | New Zealand Timber | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									401	227	279
Operating Segments | New Zealand Timber | Other Non-Timber Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									6,670	617	5,022
Operating Segments | New Zealand Timber | Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									0	0	0
Operating Segments | New Zealand Timber | Non-timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									7,071	844	5,301
Operating Segments | Real Estate
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									138,575	207,326	301,198
Other Non-Timber Sales, Primarily Lease									0	0	0
Total Revenue									138,575	207,326	301,198
Operating Segments | Real Estate | Large Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers										95,351	207,265
Total Revenue									0	95,351	207,265
Operating Segments | Real Estate | Improved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									8,393	6,348	1,740
Total Revenue									8,393	6,348	1,740
Operating Segments | Real Estate | Unimproved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									8,621	16,405	5,540
Total Revenue									8,621	16,405	5,540
Operating Segments | Real Estate | Rural
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									22,689	18,632	18,672
Total Revenue									22,689	18,632	18,672
Operating Segments | Real Estate | Non-strategic / Timberlands
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									98,872	70,590	67,981
Total Revenue									98,872	70,590	67,981
Operating Segments | Trading
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									148,722	152,584	109,682
Other Non-Timber Sales, Primarily Lease									0	0	0
Total Revenue									148,814	152,584	109,682
Operating Segments | Trading | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									13,771	13,352	8,793
Operating Segments | Trading | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									134,299	137,854	99,520
Operating Segments | Trading | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									0	0	0
Operating Segments | Trading | Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									148,070	151,206	108,313
Operating Segments | Trading | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									0	0	0
Operating Segments | Trading | Other Non-Timber Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									0	0	0
Operating Segments | Trading | Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									652	1,378	1,369
Operating Segments | Trading | Non-timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									652	1,378	1,369
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									(92)
Total Revenue									(92)	$ 0	$ 0
Intersegment Eliminations | Trading
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers									$ 92

Revenue (Disaggregation of Re_2

Revenue (Disaggregation of Revenue by Contract Type) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Total Timber Sales	$ 815,044	$ 818,521	$ 814,877
Operating Segments | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	169,178	143,704	150,434
Operating Segments | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	109,555	91,608	77,522
Operating Segments | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	249,014	223,299	176,041
Operating Segments | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	148,722	152,584	109,682
Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Total Timber Sales	72,385	71,120	73,673
Stumpage Pay-as-Cut | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	72,385	71,120	73,673
Stumpage Pay-as-Cut | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Stumpage Pay-as-Cut | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Stumpage Pay-as-Cut | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Total Timber Sales	16,842	19,721	7,229
Stumpage Lump Sum | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	4,988	9,093	4,341
Stumpage Lump Sum | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	11,854	10,628	2,121
Stumpage Lump Sum | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	767
Stumpage Lump Sum | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Stumpage Agreed Volume
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	1,234	2,492
Stumpage Agreed Volume | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Stumpage Agreed Volume | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	1,234	2,492
Stumpage Agreed Volume | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Stumpage Agreed Volume | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Total Stumpage
Disaggregation of Revenue [Line Items]
Total Timber Sales	89,227	92,075	83,394
Total Stumpage | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	77,373	80,213	78,014
Total Stumpage | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	11,854	11,862	4,613
Total Stumpage | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	767
Total Stumpage | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Total Delivered
Disaggregation of Revenue [Line Items]
Total Timber Sales	551,120	492,944	403,700
Total Delivered | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	66,490	42,426	54,840
Total Delivered | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	94,617	76,857	70,574
Total Delivered | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	241,943	222,455	169,973
Total Delivered | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	148,070	151,206	108,313
Total Delivered | Domestic
Disaggregation of Revenue [Line Items]
Total Timber Sales	252,320	209,548	200,465
Total Delivered | Domestic | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	60,931	42,426	54,840
Total Delivered | Domestic | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	94,617	76,857	70,574
Total Delivered | Domestic | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	90,631	84,221	71,294
Total Delivered | Domestic | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	6,141	6,044	3,757
Total Delivered | Export
Disaggregation of Revenue [Line Items]
Total Timber Sales	298,800	283,396	203,235
Total Delivered | Export | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	5,559	0	0
Total Delivered | Export | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	0	0	0
Total Delivered | Export | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	151,312	138,234	98,679
Total Delivered | Export | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	141,929	145,162	104,556
Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	640,347	585,019	487,094
Timber | Operating Segments | Southern Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	143,863	122,639	132,854
Timber | Operating Segments | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	106,471	88,719	75,187
Timber | Operating Segments | New Zealand Timber
Disaggregation of Revenue [Line Items]
Total Timber Sales	241,943	222,455	170,740
Timber | Operating Segments | Trading
Disaggregation of Revenue [Line Items]
Total Timber Sales	$ 148,070	$ 151,206	$ 108,313

Timberland Acquisitions - Narra

Timberland Acquisitions - Narrative (Details) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)aacquisition	Dec. 31, 2017USD ($)aacquisitionshares	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Timberlands acquired (acres)	29,857	109,533
Payments to acquire timberlands | $	$ 57,608	$ 242,910	$ 366,481
Florida, Georgia, And Texas
Business Acquisition [Line Items]
Timberlands acquired (acres)	26,000
Payments to acquire timberlands | $	$ 45,900
Georgia and Washington
Business Acquisition [Line Items]
Number of acquisitions | acquisition	5
Timberlands acquired (acres)	7,000,000
Payments to acquire timberlands | $	$ 7,200
Florida, Georgia, and South Carolina
Business Acquisition [Line Items]
Timberlands acquired (acres)		95,100
Timberlands acquired, leased lands (acres)		11,000
Shares sold (shares) | shares		5,750
Payments to acquire timberlands | $		$ 214,300
New Zealand
Business Acquisition [Line Items]
Number of acquisitions | acquisition	2	2
Timberlands acquired (acres)	3,833	7,546
Payments to acquire timberlands | $	$ 11,665	$ 21,376

Timberland Acquisitions - Summa

Timberland Acquisitions - Summary of Timberland Acquisitions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)a	Dec. 31, 2017USD ($)a	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Cost | $	$ 57,608	$ 242,910	$ 366,481
Acres | a	29,857	109,533
Florida
Business Acquisition [Line Items]
Cost | $	$ 35,560	$ 32,334
Acres | a	20,513	15,382
Georgia
Business Acquisition [Line Items]
Cost | $	$ 2,532	$ 147,833
Acres | a	2,232	68,473
South Carolina
Business Acquisition [Line Items]
Cost | $	$ 0	$ 39,884
Acres | a	0	17,651
Texas
Business Acquisition [Line Items]
Cost | $	$ 7,851	$ 0
Acres | a	3,279	0
Washington
Business Acquisition [Line Items]
Cost | $	$ 0	$ 1,483
Acres | a	0	481
New Zealand
Business Acquisition [Line Items]
Cost | $	$ 11,665	$ 21,376
Acres | a	3,833	7,546

Segment and Geographical Info_3

Segment and Geographical Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2018segment
Segment Reporting [Abstract]
Number of reportable segments	5

Segment and Geographical Info_4

Segment and Geographical Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Sales	$ 166,146	$ 200,890	$ 245,906	$ 203,196	$ 239,722	$ 184,419	$ 200,964	$ 194,491	$ 816,138	$ 819,596	$ 815,915
Operating Income/(Loss)									170,068	215,491	255,777
Unallocated interest expense and other									(27,502)	(32,231)	(32,943)
INCOME BEFORE INCOME TAXES									142,566	183,260	222,834
Total capital expenditures									62,325	65,345	58,723
Payments to acquire timberlands									57,608	242,910	366,481
Total Gross Capital Expenditures									119,933	308,255	425,204
Spending on office building									0	6,084	6,307
Real estate development investments									9,501	15,784	8,746
Depreciation, Depletion and Amortization									144,121	146,001	151,146
Real Estate | Large Dispositions
Segment Reporting Information [Line Items]
Operating Income/(Loss)										67,000	143,900
Depreciation, Depletion and Amortization										18,400	36,100
Large Dispositions										9,800	22,200
Operating Segments | Southern Timber
Segment Reporting Information [Line Items]
Sales									169,995	144,510	151,192
Operating Income/(Loss)									44,245	42,254	43,098
Total capital expenditures									35,388	34,476	33,487
Payments to acquire timberlands									45,943	220,051	103,947
Depreciation, Depletion and Amortization									58,609	49,357	49,747
Operating Segments | Pacific Northwest Timber
Segment Reporting Information [Line Items]
Sales									109,832	91,877	77,802
Operating Income/(Loss)									8,137	1,127	(3,992)
Total capital expenditures									9,311	10,254	8,036
Payments to acquire timberlands									0	1,483	262,534
Depreciation, Depletion and Amortization									32,779	32,008	25,246
Operating Segments | New Zealand Timber
Segment Reporting Information [Line Items]
Sales									249,014	223,299	176,041
Operating Income/(Loss)									62,754	57,567	33,049
Total capital expenditures									17,318	17,046	16,095
Payments to acquire timberlands									11,665	21,376	0
Depreciation, Depletion and Amortization									28,007	27,499	23,447
Operating Segments | Real Estate
Segment Reporting Information [Line Items]
Sales									138,575	207,326	301,198
Operating Income/(Loss)									76,240	130,856	202,402
Total capital expenditures									284	1,348	315
Depreciation, Depletion and Amortization									23,566	36,343	52,304
Non-Cash Cost of Land and Improved Development									23,553	23,498	33,862
Operating Segments | Real Estate | Improved Development
Segment Reporting Information [Line Items]
Sales									8,393	6,348	1,740
Operating Segments | Real Estate | Unimproved Development
Segment Reporting Information [Line Items]
Sales									8,621	16,405	5,540
Operating Segments | Real Estate | Rural
Segment Reporting Information [Line Items]
Sales									22,689	18,632	18,672
Operating Segments | Real Estate | Non-Strategic / Timberlands
Segment Reporting Information [Line Items]
Sales									98,872	70,590	67,981
Operating Segments | Real Estate | Large Dispositions
Segment Reporting Information [Line Items]
Sales									0	95,351	207,265
Operating Segments | Trading
Segment Reporting Information [Line Items]
Sales									148,814	152,584	109,682
Operating Income/(Loss)									953	4,578	2,002
Corporate and other
Segment Reporting Information [Line Items]
Operating Income/(Loss)									(22,261)	(20,891)	(20,782)
Total capital expenditures									24	2,221	790
Depreciation, Depletion and Amortization									1,160	794	402
Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales									$ (92)	$ 0	$ 0

Segment and Geographical Info_5

Segment and Geographical Information - Schedule of Geographical Operating Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 166,146	$ 200,890	$ 245,906	$ 203,196	$ 239,722	$ 184,419	$ 200,964	$ 194,491	$ 816,138	$ 819,596	$ 815,915
Operating Income									170,068	215,491	255,777
Identifiable Assets	2,780,666				2,858,481				2,780,666	2,858,481
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									390,396	419,402	528,345
Operating Income									83,357	138,528	220,703
Identifiable Assets	2,282,480				2,331,230				2,282,480	2,331,230
New Zealand
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									425,742	400,194	287,570
Operating Income									86,711	76,963	$ 35,074
Identifiable Assets	$ 498,186				$ 527,251				$ 498,186	$ 527,251

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Apr. 28, 2016	Mar. 31, 2012
Debt Instrument [Line Items]
Debt, carrying amount	$ 975,000,000	$ 1,028,375,000
Less: Current maturities of long-term debt	0	(3,375,000)
Less: Deferred financing costs	(2,433,000)	(2,996,000)
Long-term debt, net of deferred financing costs	972,567,000	1,022,004,000
Term Credit Agreement due 2024 at a variable interest rate of 4.0% at December 31, 2018
Debt Instrument [Line Items]
Debt, carrying amount	$ 350,000,000	350,000,000
Variable interest rate	4.00%
Senior Notes due 2022 at a fixed interest rate of 3.75%
Debt Instrument [Line Items]
Debt, carrying amount	$ 325,000,000	325,000,000
Fixed interest rate	3.75%			3.75%
Incremental Term Loan Agreement due 2026 at a variable interest rate of 4.2% at December 31, 2018
Debt Instrument [Line Items]
Debt, carrying amount	$ 300,000,000	300,000,000	$ 300,000,000
Variable interest rate	4.20%
Revolving Credit Facility due 2020 at a variable interest rate of 2.8% at December 31, 2017
Debt Instrument [Line Items]
Debt, carrying amount	$ 0	$ 50,000,000
Variable interest rate		2.80%
New Zealand subsidiary noncontrolling interest shareholder loan at 0% interest rate
Debt Instrument [Line Items]
Debt, carrying amount	$ 0	$ 3,375,000
Fixed interest rate	0.00%

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
2,019	$ 0
2,020	0
2,021	0
2,022	325,000
2,023	0
Thereafter	650,000
Total debt	$ 975,000	$ 1,028,375

Debt - Term Credit Agreement (N

Debt - Term Credit Agreement (Narrative) (Details) - USD ($)	Aug. 05, 2015	Dec. 31, 2018
New credit facilities
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 550,000,000
Term Credit Agreement
Debt Instrument [Line Items]
Effective interest rate		4.00%
Term Credit Agreement | Term loan facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000,000
Debt instrument, term	9 years
Basis spread on variable rate	1.625%
Effective interest rate		3.30%

Debt - 3.75% Senior Notes Issue

Debt - 3.75% Senior Notes Issued March 2012 (Narrative) (Details) - 3.75% Senior Notes issued March 2012 - USD ($)	Dec. 31, 2018	Mar. 31, 2012
Debt Instrument [Line Items]
Face amount		$ 325,000,000
Fixed interest rate	3.75%	3.75%
Senior Notes
Debt Instrument [Line Items]
Face amount		$ 325,000,000
Fixed interest rate		3.75%

Debt - Incremental Term Loan Ag

Debt - Incremental Term Loan Agreement (Narrative) (Details) - USD ($)	Apr. 28, 2016	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Incremental term loan		$ 975,000,000	$ 1,028,375,000
Incremental term loan agreement
Debt Instrument [Line Items]
Debt instrument, term	10 years
Incremental term loan	$ 300,000,000	$ 300,000,000	$ 300,000,000
Basis spread on variable rate		1.90%
Effective interest rate		2.80%

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Narrative) (Details) - USD ($)	1 Months Ended
	Aug. 31, 2015	Dec. 31, 2018
Unsecured revolving credit facility
Line of Credit Facility [Line Items]
Line of credit facility, term	5 years
Maximum borrowing capacity	$ 200,000,000
Basis spread on variable rate	1.25%
Commitment fee (as a percent)	0.175%
Available borrowings		$ 189,800,000
Unsecured revolving credit facility | Letters of credit
Line of Credit Facility [Line Items]
Letters of credit		$ 10,200,000
Previous revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 200,000,000
Farm credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000

Debt - Joint Venture Debt (Narr

Debt - Joint Venture Debt (Narrative) (Details) - Rayonier	Mar. 31, 2016	Mar. 03, 2016	Apr. 30, 2013	Apr. 04, 2013
Other Ownership Interests [Line Items]
Additional interest acquired (as a percent)				39.00%
Ownership interest (as a percent)	77.00%	77.00%	65.00%	65.00%

Debt - Working Capital Faciliti

Debt - Working Capital Facilities (Narrative) (Details) - New Zealand JV	1 Months Ended	12 Months Ended
	Jun. 30, 2016NZD ($)	Dec. 31, 2018USD ($)
Tranche A, Working Capital Facility
Debt Instrument [Line Items]
Debt instrument, term	12 months
Maximum borrowing capacity	$ 20,000,000
Tranche B, Working Capital Facility
Debt Instrument [Line Items]
Debt instrument, term	18 months
Maximum borrowing capacity	$ 20,000,000
Previous Working Capital Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	40,000,000
Working Capital Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 20,000,000
Borrowings		$ 1,000,000
Repayments		1,000,000
Outstanding balance		$ 0

Debt - Debt Covenants (Narrativ

Debt - Debt Covenants (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Apr. 28, 2016	Aug. 31, 2015	Aug. 05, 2015
Debt Instrument [Line Items]
Debt, carrying amount	$ 975,000,000	$ 1,028,375,000
Term Credit Agreement
Debt Instrument [Line Items]
Debt, carrying amount	350,000,000	350,000,000
Incremental Term Loan Agreement
Debt Instrument [Line Items]
Debt, carrying amount	$ 300,000,000	$ 300,000,000	$ 300,000,000
Term Loan Facility | Term Credit Agreement
Debt Instrument [Line Items]
Debt, carrying amount					$ 350,000,000
Maximum borrowing capacity					$ 350,000,000
Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 200,000,000

Higher and Better Use Timberl_3

Higher and Better Use Timberlands and Real Estate Development Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance	$ 80,797
Plus: Current portion, beginning balance	18,350
Total Balance, beginning	99,147
Non-cash cost of land and improved development	(10,385)
Timber depletion from harvesting activities and basis of timber sold in real estate sales	(2,450)
Capitalized real estate development investments	9,501
Capital expenditures (silviculture)	254
Intersegment transfers	1,467
Other	6
Total Balance, ending	97,528
Less: Current portion, ending balance	(11,919)
Non-current portion, ending balance	85,609
Capitalized interest	600
Land and Timber
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance	59,653
Plus: Current portion, beginning balance	6,702
Total Balance, beginning	66,355
Non-cash cost of land and improved development	(2,193)
Timber depletion from harvesting activities and basis of timber sold in real estate sales	(2,450)
Capitalized real estate development investments	0
Capital expenditures (silviculture)	254
Intersegment transfers	1,467
Other	5
Total Balance, ending	63,428
Less: Current portion, ending balance	(4,239)
Non-current portion, ending balance	59,189
Development Investments
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance	21,144
Plus: Current portion, beginning balance	11,648
Total Balance, beginning	32,792
Non-cash cost of land and improved development	(8,192)
Timber depletion from harvesting activities and basis of timber sold in real estate sales	0
Capitalized real estate development investments	9,501
Capital expenditures (silviculture)	0
Intersegment transfers	0
Other	1
Total Balance, ending	34,100
Less: Current portion, ending balance	(7,680)
Non-current portion, ending balance	$ 26,420

New Zealand Subsidiary (Details

New Zealand Subsidiary (Details) - a a in Millions	Dec. 31, 2018	Mar. 31, 2016	Mar. 03, 2016	Apr. 30, 2013	Apr. 04, 2013
Noncontrolling Interest [Line Items]
Acres of timberland owned	2.6
Rayonier
Noncontrolling Interest [Line Items]
Ownership percentage by parent		77.00%	77.00%	65.00%	65.00%
Rayonier | Matariki Forestry Group
Noncontrolling Interest [Line Items]
Ownership percentage by parent	77.00%
Non-controlling Interest
Noncontrolling Interest [Line Items]
Noncontrolling interest ownership percentage by noncontrolling owners		23.00%
Non-controlling Interest | Matariki Forestry Group
Noncontrolling Interest [Line Items]
Noncontrolling interest ownership percentage by noncontrolling owners	23.00%

Commitments (Details)

Commitments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)lease	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Commitments
2,019	$ 4,184
2,020	229
2,021	25
2,022	0
2,023	0
Thereafter	0
Total	4,438
Commitments:
2,019	14,193
2,020	9,684
2,021	9,288
2,022	8,838
2,023	8,267
Thereafter	137,626
Total	187,896
Pension contribution requirements in next fiscal year	$ 1,400
Matariki Crown Forest Licenses
Commitments:
Future minimum payments included, years	20 years
Termination notice	35 years
Renewal term	1 year
Number of leases under termination notice | lease	2
Number of fixed term forest leases expiring | lease	2
Operating Leases
Operating Leased Assets [Line Items]
Lease expenses	$ 1,320	$ 1,992	$ 2,049
Leases:
2,019	1,234
2,020	1,071
2,021	898
2,022	710
2,023	649
Thereafter	40
Total	4,602
Timberland Leases
Operating Leased Assets [Line Items]
Lease expenses	9,521	$ 10,731	$ 10,710
Leases:
2,019	8,775
2,020	8,384
2,021	8,365
2,022	8,128
2,023	7,618
Thereafter	137,586
Total	$ 178,856
Timberland Leases | United States | Minimum
Operating Leased Assets [Line Items]
Lessee leasing arrangements, operating leases, term of contract (in years)	30 years
Timberland Leases | United States | Maximum
Operating Leased Assets [Line Items]
Lessee leasing arrangements, operating leases, term of contract (in years)	65 years
Timberland Leases | New Zealand | Minimum
Operating Leased Assets [Line Items]
Lessee leasing arrangements, operating leases, term of contract (in years)	30 years
Timberland Leases | New Zealand | Maximum
Operating Leased Assets [Line Items]
Lessee leasing arrangements, operating leases, term of contract (in years)	99 years

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current
U.S. federal	$ 2	$ 261	$ 0
State	37	(38)	(254)
Foreign	(1,914)	(245)	(241)
Total Current	(1,875)	(22)	(495)
Deferred
U.S. federal	3,803	13,028	5,403
State	146	0	(280)
Foreign	(23,360)	(21,659)	(6,079)
Total Deferred	(19,411)	(8,631)	(956)
Changes in valuation allowance	(3,950)	(13,028)	(3,613)
Income tax (expense) benefit	$ (25,236)	$ (21,681)	$ (5,064)

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Income Tax Rate Reconciliation, Amount [Abstract]
U.S. federal statutory income tax rate	$ (29,939)	$ (64,141)	$ (77,992)
U.S. and foreign REIT income	32,949	63,813	82,037
Matariki Group and Rayonier New Zealand Ltd	(23,166)	(19,182)	(4,799)
Transition tax	0	(3,506)	0
Change in valuation allowance	(3,950)	(13,028)	(3,613)
ASU No. 2016-16 adoption impact	0	16,631	0
Deemed repatriation of unremitted foreign earnings	0	7,368	0
Reduction of deferred tax asset for statutory rate change	0	(10,499)	0
Foreign income tax withholding	1,848	0	0
Other	718	863	(697)
Income tax (expense) benefit as reported for net income	$ (25,236)	$ (21,681)	$ (5,064)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate	(21.00%)	(35.00%)	(35.00%)
U.S. and foreign REIT income	23.10%	34.80%	36.80%
Matariki Group and Rayonier New Zealand Ltd	(16.20%)	(10.50%)	(2.20%)
Transition tax	0	(0.019)	0
Change in valuation allowance	(2.80%)	(7.10%)	(1.60%)
ASU No. 2016-16 adoption impact	0.00%	9.10%	0.00%
Deemed repatriation of unremitted foreign earnings	0.00%	4.00%	0.00%
Reduction of deferred tax asset for statutory rate change	0.00%	(5.70%)	0.00%
Foreign income tax withholding	1.30%	0.00%	0.00%
Other	0.50%	0.50%	(0.30%)
Income tax (expense) benefit as reported for net income	(17.70%)	(11.80%)	(2.30%)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Gross deferred tax assets:
Pension, postretirement and other employee benefits	$ 1,791	$ 1,017
New Zealand subsidiary	14,252	40,224
CBPC tax credit carry forwards	14,555	14,641
Capitalized real estate costs	7,386	7,058
U.S. TRS net operating loss	5,747	1,872
Land basis difference	11,282	11,090
Other	4,047	5,079
Total gross deferred tax assets	59,060	80,981
Less: Valuation allowance	(38,839)	(34,889)
Total deferred tax assets after valuation allowance	20,221	46,092
Gross deferred tax liabilities:
Accelerated depreciation	(73)	(35)
New Zealand subsidiary	(66,430)	(72,527)
Timber installment sale	(4,823)	(4,706)
Other	(1,272)	(1,270)
Total gross deferred tax liabilities	(72,598)	(78,538)
Net deferred tax liability reported as noncurrent	$ (52,377)	$ (32,446)

Income Taxes - Summary of Opera

Income Taxes - Summary of Operating Loss and Tax Credit Carryforwards (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
NOL Carryforwards
Deferred Tax Asset, Nontaxable Entities, Gross Amount	$ 24,284	$ 20,248
Valuation Allowance, Nontaxable Entities	(24,284)	(20,248)
Total Valuation Allowance	(38,839)	(34,889)
Cellulosic Biofuel Producer Credit
NOL Carryforwards
Gross Amount, Tax Credits	14,555	14,641
Valuation Allowance, Tax Credits	(14,555)	(14,641)
New Zealand JV | New Zealand subsidiary NOL carryforwards
NOL Carryforwards
Gross Amount, NOL Carryforwards	31,052	137,949
Valuation Allowance, NOL Carryforwards	$ 0	$ 0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, interest on income taxes accrued	$ 0	$ 0
GILTI income inclusion	$ 800,000

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 0	$ 135	$ 135
Decreases related to prior year tax positions (a)	0	(135)	0
Increases related to prior year tax positions	0	0	0
Ending balance	$ 0	$ 0	$ 135

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) $ in Thousands	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Insurance settlements payable	$ 1,995

Guarantees (Details)

Guarantees (Details) $ in Thousands	Dec. 31, 2018USD ($)
Guarantor Obligations [Line Items]
Maximum Potential Payment	$ 15,615
Carrying Amount of Liability	43
Standy letters of credit
Guarantor Obligations [Line Items]
Maximum Potential Payment	10,176
Carrying Amount of Liability	0
Standy letters of credit | Bonds
Guarantor Obligations [Line Items]
Letter of credit for development project	9,200
Guarantees
Guarantor Obligations [Line Items]
Maximum Potential Payment	2,254
Carrying Amount of Liability	43
Surety bonds
Guarantor Obligations [Line Items]
Maximum Potential Payment	3,185
Carrying Amount of Liability	$ 0

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Net Income	$ 4,647	$ 30,639	$ 39,338	$ 42,706	$ 66,920	$ 28,803	$ 30,773	$ 35,083	$ 117,330	$ 161,579	$ 217,770
Less: Net income attributable to noncontrolling interest									15,114	12,737	5,798
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	$ 1,987	$ 23,432	$ 36,258	$ 40,539	$ 64,150	$ 24,688	$ 26,161	$ 33,843	$ 102,216	$ 148,842	$ 211,972
Shares used for determining basic earnings per common share (in shares)									129,043,627	127,367,608	122,585,200
Dilutive effect of:
Stock options (in shares)									71,276	91,956	92,473
Performance and restricted shares (in shares)									575,328	350,385	134,650
Shares used for determining diluted earnings per common share (in shares)									129,690,231	127,809,949	122,812,323
Basic earnings per common share attributable to Rayonier Inc (in dollars per share)	$ 0.02	$ 0.18	$ 0.28	$ 0.31	$ 0.50	$ 0.19	$ 0.20	$ 0.27	$ 0.79	$ 1.17	$ 1.73
Diluted earnings per common share attributable to Rayonier Inc (in dollars per share)	$ 0.02	$ 0.18	$ 0.28	$ 0.31	$ 0.50	$ 0.19	$ 0.20	$ 0.27	$ 0.79	$ 1.16	$ 1.73

Earnings Per Common Share - Ant

Earnings Per Common Share - Antidilutive Shares Excluded from the Computation (Details) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock options, performance and restricted shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from computations of diluted earnings per share (in shares)	254,282	596,061	829,469

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Narrative (Details) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2018NZD ($)
Minimum
Derivative [Line Items]
Foreign currency exposure hedged for forecasted sales in next three months, percent	35.00%
Foreign currency exposure hedged for forecasted sales In next three to twelve months, percent	25.00%
Foreign currency exposure hedged for forecasted sales in next 12 to 18 months, percent	50.00%
Maximum
Derivative [Line Items]
Foreign currency exposure hedged for forecasted sales in next three months, percent	90.00%
Foreign currency exposure hedged for forecasted sales In next three to twelve months, percent	75.00%
Designated as Hedging Instrument | Cash Flow Hedging
Derivative [Line Items]
AOCI gain (loss) balance expected to be reclassified in next twelve months	$ 1,100
Foreign Currency Exchange and Option Contracts, Scale 2 | Minimum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	3 months
Foreign Currency Exchange and Option Contracts, Scale 2 | Maximum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	12 months
Foreign Currency Exchange and Option Contracts, Scale 3 | Minimum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	12 months
Foreign Currency Exchange and Option Contracts, Scale 3 | Maximum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	18 months
Foreign Currency Exchange and Option Contracts, Scale 1
Derivative [Line Items]
Maximum foreign currency cash flow hedge, period (in months)	3 months
Foreign currency exchange contracts
Derivative [Line Items]
Notional amount				$ 37
Foreign currency exchange contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	$ 9,396	$ 18,439
Foreign currency exchange contracts | Not Designated as Hedging Instrument | Interest income and miscellaneous income (expense), net
Derivative [Line Items]
Non-designated hedged item, gain (loss) recognized in income	2,183	47	$ 0
Foreign currency exchange contracts | Not Designated as Hedging Instrument | Other operating income, net
Derivative [Line Items]
Non-designated hedged item, gain (loss) recognized in income	0	0	895
Foreign currency exchange contracts | Designated as Hedging Instrument | Cash Flow Hedging
Derivative [Line Items]
Notional amount	69,950	107,400
Interest rate swaps | Not Designated as Hedging Instrument | Interest income and miscellaneous income (expense), net
Derivative [Line Items]
Non-designated hedged item, gain (loss) recognized in income	0	0	(1,219)
Interest rate swaps | Designated as Hedging Instrument | Cash Flow Hedging
Derivative [Line Items]
Notional amount	650,000	650,000
Carbon options | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	2,517	0
Carbon options | Not Designated as Hedging Instrument | Interest income and miscellaneous income (expense), net
Derivative [Line Items]
Non-designated hedged item, gain (loss) recognized in income	$ (158)	$ 0	$ 0
New Zealand JV | Foreign currency exchange contracts | Minimum
Derivative [Line Items]
Percentage of foreign currency exposure, next three months	60.00%
New Zealand JV | Foreign currency exchange contracts | Maximum
Derivative [Line Items]
Percentage of foreign currency exposure, next three months	100.00%
Percentage of foreign currency exposure, next three to six months	75.00%
Percentage of foreign currency exposure, next six to twelve months	50.00%
New Zealand JV | Foreign Currency Exchange And Option Contracts, Scale 4 | Minimum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	3 months
New Zealand JV | Foreign Currency Exchange And Option Contracts, Scale 5 | Minimum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	3 months
New Zealand JV | Foreign Currency Exchange And Option Contracts, Scale 5 | Maximum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	6 months
New Zealand JV | Foreign Currency Exchange And Option Contracts, Scale 6 | Minimum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	6 months
New Zealand JV | Foreign Currency Exchange And Option Contracts, Scale 6 | Maximum
Derivative [Line Items]
Foreign currency cash flow hedge, period (in months)	12 months

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Outstanding Interest Rate Swaps (Details) - Cash Flow Hedging - Designated as Hedging Instrument	12 Months Ended
	Dec. 31, 2018USD ($)
August 2,015
Derivative [Line Items]
Term	9 years
Notional Amount	$ 170,000
Fixed Rate of Swap	2.20%
Bank Margin on Debt	1.63%
Total Effective Interest Rate	3.83%
August 2,015
Derivative [Line Items]
Term	9 years
Notional Amount	$ 180,000
Fixed Rate of Swap	2.35%
Bank Margin on Debt	1.63%
Total Effective Interest Rate	3.98%
April 2,016
Derivative [Line Items]
Term	10 years
Notional Amount	$ 100,000
Fixed Rate of Swap	1.60%
Bank Margin on Debt	1.90%
Total Effective Interest Rate	3.50%
April 2,016
Derivative [Line Items]
Term	10 years
Notional Amount	$ 100,000
Fixed Rate of Swap	1.60%
Bank Margin on Debt	1.90%
Total Effective Interest Rate	3.50%
July 2,016
Derivative [Line Items]
Term	10 years
Notional Amount	$ 100,000
Fixed Rate of Swap	1.26%
Bank Margin on Debt	1.90%
Total Effective Interest Rate	3.16%

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency exchange contracts | Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Designated hedged item, gain (loss) recognized in other comprehensive income	$ (4,357)	$ 2,100	$ 867
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency option contracts | Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Designated hedged item, gain (loss) recognized in other comprehensive income	(180)	(52)	1,035
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps | Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Designated hedged item, gain (loss) recognized in other comprehensive income	8,296	4,214	21,422
Designated as Hedging Instrument | Net Investment Hedging | Foreign currency exchange contracts | Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Designated hedged item, gain (loss) recognized in other comprehensive income	(344)	0	0
Designated as Hedging Instrument | Net Investment Hedging | Foreign currency option contracts | Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Designated hedged item, gain (loss) recognized in other comprehensive income	0	0	(4,606)
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other operating income, net
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (loss) recognized in income	0	0	895
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Interest income and miscellaneous income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (loss) recognized in income	2,183	47	0
Not Designated as Hedging Instrument | Foreign currency option contracts | Other operating income, net
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (loss) recognized in income	0	0	258
Not Designated as Hedging Instrument | Carbon options | Interest income and miscellaneous income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (loss) recognized in income	(158)	0	0
Not Designated as Hedging Instrument | Interest rate swaps | Interest income and miscellaneous income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (loss) recognized in income	$ 0	$ 0	$ (1,219)

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging Activities - Notional Amounts of Outstanding Positions (Details) $ in Thousands, $ in Millions	Dec. 31, 2018USD ($)	Mar. 31, 2018NZD ($)	Dec. 31, 2017USD ($)
Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount		$ 37
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	$ 69,950		$ 107,400
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency option contracts
Derivatives, Fair Value [Line Items]
Notional Amount	24,000		48,000
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	650,000		650,000
Not Designated as Hedging Instrument | Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	9,396		18,439
Not Designated as Hedging Instrument | Carbon options
Derivatives, Fair Value [Line Items]
Notional Amount	$ 2,517		$ 0

Derivative Financial Instrume_7

Derivative Financial Instruments and Hedging Activities - Statement of Financial Position (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative Asset	$ 24,206	$ 21,032
Derivative Liability	(2,089)	(2,433)
Other current assets
Derivatives, Fair Value [Line Items]
Derivative Asset	369	2,884
Other assets
Derivatives, Fair Value [Line Items]
Derivative Asset	23,837	18,148
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	(2,021)	(345)
Other non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	(68)	(2,088)
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative Asset	0	2,286
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency exchange contracts | Other assets
Derivatives, Fair Value [Line Items]
Derivative Asset	0	538
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	(1,569)	(37)
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency option contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative Asset	217	389
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency option contracts | Other assets
Derivatives, Fair Value [Line Items]
Derivative Asset	102	137
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency option contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	(106)	(119)
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency option contracts | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	(68)	(55)
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps | Other assets
Derivatives, Fair Value [Line Items]
Derivative Asset	23,735	17,473
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	0	(2,033)
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative Asset	152	209
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	(24)	(189)
Not Designated as Hedging Instrument | Carbon options | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	$ (322)	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current maturities of long-term debt	$ 0	$ (3,375)
Long-term debt	(972,567)	(1,022,004)
Carbon options contracts (d)	2,089	2,433
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	148,374	112,653
Restricted cash	8,080	59,703
Carrying Amount | Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	23,735	15,440
Carrying Amount | Carbon options
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carbon options contracts (d)	(322)	0
Carrying Amount | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current maturities of long-term debt	0	(3,375)
Long-term debt	(972,567)	(1,022,004)
Carrying Amount | Fair Value, Measurements, Recurring | Foreign currency exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts, liability	(1,442)
Foreign currency contracts, asset		2,807
Carrying Amount | Fair Value, Measurements, Recurring | Foreign currency option contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts, asset	145	352
Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	148,374	112,653
Restricted cash	8,080	59,703
Fair Value | Level 1 | Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	0	0
Fair Value | Level 1 | Carbon options
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carbon options contracts (d)	0	0
Fair Value | Level 1 | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current maturities of long-term debt	0	0
Long-term debt	0	0
Fair Value | Level 1 | Fair Value, Measurements, Recurring | Foreign currency exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts, liability	0
Foreign currency contracts, asset		0
Fair Value | Level 1 | Fair Value, Measurements, Recurring | Foreign currency option contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts, asset	0	0
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Fair Value | Level 2 | Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	23,735	15,440
Fair Value | Level 2 | Carbon options
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carbon options contracts (d)	(322)	0
Fair Value | Level 2 | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current maturities of long-term debt	0	(3,375)
Long-term debt	(975,845)	(1,030,135)
Fair Value | Level 2 | Fair Value, Measurements, Recurring | Foreign currency exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts, liability	(1,442)
Foreign currency contracts, asset		2,807
Fair Value | Level 2 | Fair Value, Measurements, Recurring | Foreign currency option contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts, asset	$ 145	$ 352

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)pension_plan	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Number of qualified defined benefit plans | pension_plan	1
Pension contribution requirements in next fiscal year | $	$ 1.4
Pension
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.11%	3.48%	4.01%
Expected long-term return on plan assets, percent	7.17%	7.17%	7.70%

Employee Benefit Plans - Change

Employee Benefit Plans - Change in PBO and Assets and Reconciliations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Noncurrent liabilities	$ (29,800)	$ (31,905)
Pension
Change in Projected Benefit Obligation
Projected benefit obligation at beginning of year	87,986	81,752
Service cost	0	0	$ 1,307
Interest cost	3,021	3,259	3,474
Actuarial (gain) loss	(8,160)	6,123
Benefits paid	(3,288)	(3,148)
Projected benefit obligation at end of year	79,559	87,986	81,752
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	57,377	51,114
Actual return on plan assets	(4,638)	9,909
Employer contributions	2,829	90
Benefits paid	(4,002)	(3,148)
Other expense	(617)	(588)
Fair value of plan assets at end of year	50,949	57,377	51,114
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Net accrued benefit cost	(28,610)	(30,609)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Current liabilities	(86)	(92)
Noncurrent liabilities	(28,524)	(30,517)
Net amount recognized	(28,610)	(30,609)
Postretirement
Change in Projected Benefit Obligation
Projected benefit obligation at beginning of year	1,420	1,285
Service cost	7	6	4
Interest cost	38	53	42
Actuarial (gain) loss	(149)	89
Benefits paid	(13)	(13)
Projected benefit obligation at end of year	1,303	1,420	1,285
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	13	13
Benefits paid	(13)	(13)
Other expense	0	0
Fair value of plan assets at end of year	0	0	$ 0
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Net accrued benefit cost	(1,303)	(1,420)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Current liabilities	(27)	(32)
Noncurrent liabilities	(1,276)	(1,388)
Net amount recognized	$ (1,303)	$ (1,420)

Employee Benefit Plans - Other

Employee Benefit Plans - Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension
Defined Benefit Plan Disclosure [Line Items]
Net (losses) gains	$ (1,743)	$ (583)	$ 3,119
Amortization of losses (gains)	673	466	2,526
Amortization of prior service cost	0	0	0
Postretirement
Defined Benefit Plan Disclosure [Line Items]
Net (losses) gains	149	(89)	(99)
Amortization of losses (gains)	2	(1)	(13)
Amortization of prior service cost	$ 0	$ 0	$ 0

Employee Benefit Plans - Accumu

Employee Benefit Plans - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Pension
Defined Benefit Plan Disclosure [Line Items]
Net (losses) gains	$ (23,252)	$ (22,183)
Deferred income tax benefit	1,216	1,927
AOCI	(22,036)	(20,256)
Postretirement
Defined Benefit Plan Disclosure [Line Items]
Net (losses) gains	(7)	(157)
Deferred income tax benefit	6	6
AOCI	$ (1)	$ (151)

Employee Benefit Plans - Accu_2

Employee Benefit Plans - Accumulated Benefit Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Projected benefit obligation	$ 79,559	$ 87,986
Accumulated benefit obligation	79,559	87,986
Fair value of plan assets	$ 50,949	$ 57,377

Employee Benefit Plans - Net Pe

Employee Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 1,307
Interest cost	3,021	3,259	3,474
Expected return on plan assets	(3,934)	(3,781)	(4,030)
Amortization of prior service cost	0	0	0
Amortization of losses (gains)	673	466	2,526
Net periodic benefit (credit) cost	(240)	(56)	3,277
Postretirement
Defined Benefit Plan Disclosure [Line Items]
Service cost	7	6	4
Interest cost	38	53	42
Expected return on plan assets	0	0	0
Amortization of prior service cost	0	0	0
Amortization of losses (gains)	2	(1)	(13)
Net periodic benefit (credit) cost	$ 47	$ 58	$ 33

Employee Benefit Plans - AOCI A

Employee Benefit Plans - AOCI Amortization in Next Fiscal Year (Details) $ in Thousands	Dec. 31, 2018USD ($)
Pension
Defined Benefit Plan Disclosure [Line Items]
Amortization of loss	$ 633
Postretirement
Defined Benefit Plan Disclosure [Line Items]
Amortization of loss	$ 0

Employee Benefit Plans - Assump

Employee Benefit Plans - Assumptions Used in Calculations (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate, percent	4.11%	3.48%	4.01%
Rate of compensation, percent	0.00%	0.00%	4.16%
Assumptions used to determine net periodic benefit cost for years ended December 31:
Discount rate (post-spin off), percent	3.48%	4.01%	4.20%
Expected long-term return on plan assets, percent	7.17%	7.17%	7.70%
Rate of compensation increase, percent	0.00%	0.00%	4.16%
Postretirement
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate, percent	4.18%	3.56%	4.12%
Rate of compensation, percent	4.50%	4.50%	4.50%
Assumptions used to determine net periodic benefit cost for years ended December 31:
Discount rate (post-spin off), percent	3.56%	4.12%	4.34%
Expected long-term return on plan assets, percent	0.00%	0.00%	0.00%
Rate of compensation increase, percent	4.50%	4.50%	4.50%

Employee Benefit Plans - Invest

Employee Benefit Plans - Investment of Plan Assets (Details) - Pension	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of Plan Assets	100.00%	100.00%
Domestic equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of Plan Assets	39.00%	41.00%
International equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of Plan Assets	28.00%	26.00%
Domestic fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of Plan Assets	26.00%	26.00%
International fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of Plan Assets	5.00%	4.00%
Real estate fund
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of Plan Assets	2.00%	3.00%
Minimum | Domestic equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	35.00%
Minimum | International equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	20.00%
Minimum | Domestic fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	25.00%
Minimum | International fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	3.00%
Minimum | Real estate fund
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	2.00%
Maximum | Domestic equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	45.00%
Maximum | International equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	30.00%
Maximum | Domestic fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	29.00%
Maximum | International fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	7.00%
Maximum | Real estate fund
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation range minimum, percent	4.00%

Employee Benefit Plans - Fair V

Employee Benefit Plans - Fair Value Measurements (Details) - Pension - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Investments at Fair Value:	$ 50,949	$ 57,377	$ 51,114
Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Investments at Fair Value:	0	8,986
Mutual Funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Investments at Fair Value:	0	8,986
Mutual Funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Investments at Fair Value:	0	0
Mutual Funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Investments at Fair Value:	0	0
Separate Investment Accounts
Defined Benefit Plan Disclosure [Line Items]
Investments at Net Asset Value:	$ 50,949	$ 48,391

Employee Benefit Plans - Expect

Employee Benefit Plans - Expected Benefit Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Pension Benefits
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2,019	$ 3,512
2,020	3,717
2,021	3,836
2,022	4,035
2,023	4,114
2024 - 2028	22,167
Postretirement Benefits
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2,019	36
2,020	38
2,021	41
2,022	44
2,023	47
2024 - 2028	$ 278

Employee Benefit Plans - Define

Employee Benefit Plans - Defined Contribution Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Retirement Benefits [Abstract]
Cost recognized	$ 0.9	$ 0.8	$ 0.7
Amount of employer and related party securities included in plan assets	9.7	12.3
Contributions for 401k plan enhancement	$ 0.8	$ 0.8	$ 0.5

Incentive Stock Plans - Narrati

Incentive Stock Plans - Narrative (Details)	Dec. 31, 2018shares
Rayonier Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	15,800,000
Number of shares available for future grant	4,500,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reduction of shares available for issuance	1
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reduction of shares available for issuance	2.27
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reduction of shares available for issuance	2.27

Incentive Stock Plans - Schedul

Incentive Stock Plans - Schedule of Stock Based Compensation Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 6,428	$ 5,396	$ 5,136
Tax benefit recognized related to stock-based compensation expense	338	249	483
Timber and Timberlands, net
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation cost, capitalized amount	101	56	42
Selling and general expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation cost	5,623	4,784	4,607
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation cost	$ 704	$ 556	$ 487

Incentive Stock Plans - Restric

Incentive Stock Plans - Restricted Stock - Narrative (Details) - Restricted Stock $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 4.6
Weighted average period for recognition, years	2 years 10 months 24 days
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate of restricted stock	25.00%
Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate of restricted stock	33.00%

Incentive Stock Plans - Summary

Incentive Stock Plans - Summary of Restricted Shares (Details) - Restricted Stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted	87,924	97,643	106,326
Weighted average price of restricted shares granted (in dollars per share)	$ 35.44	$ 28.18	$ 25.08
Intrinsic value of restricted stock outstanding	$ 8,792	$ 8,906	$ 6,177
Grant date fair value of restricted stock vested	1,582	1,198	2,248
Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on restricted shares vested	$ 334	$ 176	$ 178

Incentive Stock Plans - Sched_2

Incentive Stock Plans - Schedule of Restricted Stock Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of Shares
Beginning Balance (in shares)	281,569
Granted (in shares)	87,924	97,643	106,326
Vested (in shares)	(49,780)
Cancelled (in shares)	(2,214)
Ending Balance (in shares)	317,499	281,569
Weighted Average Grant Date Fair Value
Beginning Balance (in dollars per share)	$ 29.32
Granted (in dollars per share)	35.44	$ 28.18	$ 25.08
Vested (in dollars per share)	31.78
Cancelled (in dollars per share)	28.16
Ending Balance (in dollars per share)	$ 30.64	$ 29.32

Incentive Stock Plans - Perform

Incentive Stock Plans - Performance Share Units - Narrative (Details) - Performance Shares $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Unrecognized compensation cost	$ 5
Weighted average period for recognition, years	1 year 9 months 18 days

Incentive Stock Plans - Summa_2

Incentive Stock Plans - Summary of Performance Shares (Details) - Performance Shares - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved for performance shares granted during year	213,154	226,448	250,584
Weighted average fair value of performance share units granted (in dollars per share)	$ 40.27	$ 32.17	$ 28.79
Intrinsic value of outstanding performance share units	$ 9,229	$ 10,414	$ 7,482
Fair value of performance shares vested	5,670	0	0
Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on restricted shares vested	$ 2,651	$ 0	$ 0

Incentive Stock Plans - Sched_3

Incentive Stock Plans - Schedule of Performance Share Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Weighted Average Grant Date Fair Value
Interest (b)	[1]	$ 33,120	$ 36,041	$ 36,289
Performance Shares
Number of Units
Beginning Balance (in shares)		329,239
Granted (in shares)		106,577
Units Distributed (in shares)		(102,523)
Other Cancellations/Adjustments (in shares)		(11)
Ending Balance (in shares)		333,282	329,239
Weighted Average Grant Date Fair Value
Beginning Balance (in dollars per share)		$ 30.21
Weighted average price of restricted shares granted (in dollars per share)		40.27	$ 32.17	$ 28.79
Units Distributed (in dollars per share)		29.62
Other Cancellations/Adjustments (in dollars per share)		30.24
Ending Balance (in dollars per share)		$ 33.60	$ 30.21
[1]	(b) Interest paid is presented net of patronage payments received of $4.1 million and $3.0 million for the years ended December 31, 2018 and December 31, 2017, respectively. For additional information on patronage payments, see Note 5 — Debt

Incentive Stock Plans - Sched_4

Incentive Stock Plans - Schedule of Assumptions used for Performance Shares (Details) - Performance Shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	20.80%	23.30%	25.40%
Risk-free rate	2.40%	1.50%	0.90%

Incentive Stock Plans - Non-Qua

Incentive Stock Plans - Non-Qualified Employee Stock Options - Narrative (Details)	12 Months Ended
	Dec. 31, 2018
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum term (in years)	10 years

Incentive Stock Plans - Sched_5

Incentive Stock Plans - Schedule of Stock Option Activity (Details) - Stock Options $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Number of Shares
Number of Shares, Beginning Balance | shares	841,066
Granted (in shares) | shares	0
Exercised (in shares) | shares	(322,913)
Cancelled or expired (in shares) | shares	(8,031)
Number of Shares, Ending Balance | shares	510,122
Number of Shares, Options exercisable | shares	510,122
Weighted Average Exercise Price (per common share)
Weighted Average Exercise Price (in dollars per common share), Beginning Balance | $ / shares	$ 30.13
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	26.61
Cancelled or expired (in dollars per share) | $ / shares	34.32
Weighted Average Exercise Price (in dollars per common share), Ending Balance | $ / shares	32.29
Weighted Average Exercise Price (in dollars per common share), Options exercisable | $ / shares	$ 32.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual term (in years), Options outstanding	3 years 7 months 6 days
Weighted Average Remaining Contractual term (in years), Options exercisable	3 years 7 months 6 days
Aggregate Intrinsic Value, Options outstanding | $	$ 392
Aggregate Intrinsic Value, Options exercisable | $	$ 392

Incentive Stock Plans - Summa_3

Incentive Stock Plans - Summary of Additional Information for Stock Options (Details) - Stock Options - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised	$ 2,618	$ 1,993	$ 539
Fair value of options vested	6,832	6,138	1,317
Cash received from exercise of options	$ 8,591	$ 4,751	$ 1,576

Other Operating Income, Net (De

Other Operating Income, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Income and Expenses [Abstract]
Foreign currency (loss) income	$ 238	$ (394)	$ 283
Gain (loss) on sale or disposal of property plant & equipment	7	(68)	85
Gain (loss) on foreign currency exchange and option contracts	132	3,438	(645)
Gain on foreign currency derivatives	0	0	1,153
Income from sale of unused Internet Protocol addresses	646	0	0
Log trading marketing fees	286	1,222	951
Income from New Zealand Timber settlement	0	420	0
Deferred payments related to prior land sales	0	0	8,658
Costs related to business combination	0	0	(1,316)
Miscellaneous expense, net	(169)	(225)	(83)
Total	$ 1,140	$ 4,393	$ 9,086

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Inventory	$ 15,703	$ 24,141
Real Estate Inventory
Inventory [Line Items]
Inventory	11,919	18,350
Log inventory
Inventory [Line Items]
Inventory	$ 3,784	$ 5,791

Restricted Cash - Narrative (De

Restricted Cash - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Restricted Cash and Investments [Abstract]
Time period proceeds from LKE sale are maintained with third party intermediary	180 days
Restricted cash	$ 8,080	$ 59,703

Restricted Cash - Restricted Ca

Restricted Cash - Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 8,080	$ 59,703
Cash and cash equivalents	148,374	112,653
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows	156,454	172,356	$ 157,617	$ 75,302
Restricted cash deposited with LKE intermediary
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	7,530	59,153
Restricted cash held in escrow
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 550	$ 550

Other Assets - Changes in Goodw

Other Assets - Changes in Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill Beginning Balance (net of $0 of accumulated impairment)	$ 8,776,000	$ 8,679,000
Changes to carrying amount
Acquisitions	0	0
Impairment	0	0
Foreign currency adjustment	(469,000)	97,000
Goodwill Ending Balance (net of $0 accumulated impairment)	8,307,000	8,776,000
Accumulated Impairment	$ 0	$ 0	$ 0

Other Assets - Asset Balances (

Other Assets - Asset Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Long-term and prepaid and secondary roads	$ 7,072	$ 6,363
Deferred financing costs related to revolving debt	213	341
Pacific Northwest
Finite-Lived Intangible Assets [Line Items]
Long-term and prepaid and secondary roads	4,000	3,696
New Zealand
Finite-Lived Intangible Assets [Line Items]
Long-term and prepaid and secondary roads	3,072	2,667
Software Costs
Finite-Lived Intangible Assets [Line Items]
Capitalized software costs	$ 3,776	$ 4,092

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income/(Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 13,417
Recapitalization of New Zealand JV			$ 0
Ending balance	239	$ 13,417
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	13,417	856
Other comprehensive (loss)/income before reclassifications	(12,979)	14,064
Amounts reclassified from accumulated other comprehensive income	(199)	(1,503)
Net other comprehensive (loss)/income	(13,178)	12,561
Recapitalization of New Zealand JV			3,438
Ending balance	239	13,417	856
Foreign currency translation gains/(losses)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	15,975	8,559
Other comprehensive (loss)/income before reclassifications	(16,985)	7,416
Amounts reclassified from accumulated other comprehensive income	0	0
Net other comprehensive (loss)/income	(16,985)	7,416
Ending balance	(1,010)	15,975	8,559
Net investment hedges of New Zealand JV
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	1,665	1,665
Other comprehensive (loss)/income before reclassifications	(344)	0
Amounts reclassified from accumulated other comprehensive income	0	0
Net other comprehensive (loss)/income	(344)	0
Ending balance	1,321	1,665	1,665
Cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	16,184	10,831
Other comprehensive (loss)/income before reclassifications	5,944	7,321
Amounts reclassified from accumulated other comprehensive income	(163)	(1,968)
Net other comprehensive (loss)/income	5,781	5,353
Ending balance	21,965	16,184	10,831
Cash flow hedges | Interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other comprehensive (loss)/income before reclassifications	8,300
Employee benefit plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(20,407)	(20,199)
Other comprehensive (loss)/income before reclassifications	(1,594)	(673)
Amounts reclassified from accumulated other comprehensive income	(36)	465
Net other comprehensive (loss)/income	(1,630)	(208)
Ending balance	$ (22,037)	(20,407)	$ (20,199)
Accounting Standards Update 2018-02
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Cumulative-effect adjustment due to adoption of ASU		0
Accounting Standards Update 2018-02 | Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Cumulative-effect adjustment due to adoption of ASU		$ 711

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income/(Loss) - Reclassifications (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other operating (expense) income, net	$ 1,140	$ 4,393	$ 9,086
Comprehensive income (loss) attributable to noncontrolling interest	(8,931)	(14,775)	(9,555)
Income tax expense benefit (Note 9)	(25,236)	(21,681)	$ (5,064)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net (gain) loss on cash flow hedges reclassified from accumulated other comprehensive income	(163)	(1,968)
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Comprehensive income (loss) attributable to noncontrolling interest	68	817
Income tax expense benefit (Note 9)	63	765
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Realized (gain) loss on foreign currency exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other operating (expense) income, net	(121)	(2,631)
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Realized (gain) loss on foreign currency option contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other operating (expense) income, net	$ (173)	$ (919)

Quarterly Results for 2018 an_3

Quarterly Results for 2018 and 2017 (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Sales	$ 166,146	$ 200,890	$ 245,906	$ 203,196	$ 239,722	$ 184,419	$ 200,964	$ 194,491	$ 816,138	$ 819,596	$ 815,915
Cost of sales	(139,092)	(143,261)	(184,418)	(138,488)	(149,832)	(136,983)	(144,610)	(136,828)	(605,259)	(568,253)	(526,439)
Net Income	4,647	30,639	39,338	42,706	66,920	28,803	30,773	35,083	117,330	161,579	217,770
Net Income attributable to Rayonier Inc.	$ 1,987	$ 23,432	$ 36,258	$ 40,539	$ 64,150	$ 24,688	$ 26,161	$ 33,843	$ 102,216	$ 148,842	$ 211,972
Basic EPS attributable to Rayonier Inc. (in dollars per share)	$ 0.02	$ 0.18	$ 0.28	$ 0.31	$ 0.50	$ 0.19	$ 0.20	$ 0.27	$ 0.79	$ 1.17	$ 1.73
Diluted EPS attributable to Rayonier Inc. (in dollars per share)	$ 0.02	$ 0.18	$ 0.28	$ 0.31	$ 0.50	$ 0.19	$ 0.20	$ 0.27	$ 0.79	$ 1.16	$ 1.73

Consolidating Financial State_3

Consolidating Financial Statements - Narrative (Details) - Senior Notes due 2022 at a fixed interest rate of 3.75% - USD ($)	Dec. 31, 2018	Mar. 31, 2012
Debt Instrument [Line Items]
Face amount		$ 325,000,000
Fixed interest rate	3.75%	3.75%

Consolidating Financial State_4

Consolidating Financial Statements - Income and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
SALES	$ 166,146	$ 200,890	$ 245,906	$ 203,196	$ 239,722	$ 184,419	$ 200,964	$ 194,491	$ 816,138	$ 819,596	$ 815,915
Costs and Expenses
Cost of sales	(139,092)	(143,261)	(184,418)	(138,488)	(149,832)	(136,983)	(144,610)	(136,828)	(605,259)	(568,253)	(526,439)
Selling and general expenses									(41,951)	(40,245)	(42,785)
Other operating (expense) income, net									1,140	4,393	9,086
Costs and Expenses, Total									(646,070)	(604,105)	(560,138)
OPERATING INCOME									170,068	215,491	255,777
Interest expense									(32,066)	(34,071)	(32,245)
Interest and miscellaneous income (expense), net									4,564	1,840	(698)
Equity in income from subsidiaries									0	0	0
INCOME BEFORE INCOME TAXES									142,566	183,260	222,834
Income tax (expense) benefit									(25,236)	(21,681)	(5,064)
NET INCOME	4,647	30,639	39,338	42,706	66,920	28,803	30,773	35,083	117,330	161,579	217,770
Less: Net income attributable to noncontrolling interest									(15,114)	(12,737)	(5,798)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	$ 1,987	$ 23,432	$ 36,258	$ 40,539	$ 64,150	$ 24,688	$ 26,161	$ 33,843	102,216	148,842	211,972
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net of income tax effect of $0, $0 and $0									(22,759)	9,114	6,322
Cash flow hedges, net of income tax									5,029	5,693	22,822
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax									(1,630)	(208)	5,533
Total other comprehensive income									(19,360)	14,599	34,677
COMPREHENSIVE INCOME									97,970	176,178	252,447
Less: Comprehensive income attributable to noncontrolling interest									(8,931)	(14,775)	(9,555)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.									89,039	161,403	242,892
Consolidating Adjustments
Income Statement [Abstract]
SALES									0	0	0
Costs and Expenses
Cost of sales									0	0	0
Selling and general expenses									0	0	0
Other operating (expense) income, net									0	0	0
Costs and Expenses, Total									0	0	0
OPERATING INCOME									0	0	0
Interest expense									0	0	0
Interest and miscellaneous income (expense), net									0	0	0
Equity in income from subsidiaries									(253,052)	(338,107)	(462,107)
INCOME BEFORE INCOME TAXES									(253,052)	(338,107)	(462,107)
Income tax (expense) benefit									0	0	0
NET INCOME									(253,052)	(338,107)	(462,107)
Less: Net income attributable to noncontrolling interest									0	0	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.									(253,052)	(338,107)	(462,107)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net of income tax effect of $0, $0 and $0									17,329	(7,416)	(2,782)
Cash flow hedges, net of income tax									(5,782)	(5,353)	(22,608)
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax									1,630	208	(5,533)
Total other comprehensive income									13,177	(12,561)	(30,923)
COMPREHENSIVE INCOME									(239,875)	(350,668)	(493,030)
Less: Comprehensive income attributable to noncontrolling interest									0	0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.									(239,875)	(350,668)	(493,030)
Rayonier Inc. (Parent Issuer) | Reportable Legal Entities
Income Statement [Abstract]
SALES									0	0	0
Costs and Expenses
Cost of sales									0	0	0
Selling and general expenses									0	0	0
Other operating (expense) income, net									(12)	0	0
Costs and Expenses, Total									(12)	0	0
OPERATING INCOME									(12)	0	0
Interest expense									(12,556)	(12,556)	(12,555)
Interest and miscellaneous income (expense), net									6,648	9,679	8,613
Equity in income from subsidiaries									108,136	151,719	215,914
INCOME BEFORE INCOME TAXES									102,216	148,842	211,972
Income tax (expense) benefit									0	0	0
NET INCOME									102,216	148,842	211,972
Less: Net income attributable to noncontrolling interest									0	0	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.									102,216	148,842	211,972
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net of income tax effect of $0, $0 and $0									(17,329)	7,416	2,780
Cash flow hedges, net of income tax									5,782	5,353	22,607
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax									(1,630)	(208)	5,533
Total other comprehensive income									(13,177)	12,561	30,920
COMPREHENSIVE INCOME									89,039	161,403	242,892
Less: Comprehensive income attributable to noncontrolling interest									0	0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.									89,039	161,403	242,892
Subsidiary Guarantors | Reportable Legal Entities
Income Statement [Abstract]
SALES									0	0	0
Costs and Expenses
Cost of sales									0	0	0
Selling and general expenses									(19,812)	(16,797)	(15,253)
Other operating (expense) income, net									543	(479)	(448)
Costs and Expenses, Total									(19,269)	(17,276)	(15,701)
OPERATING INCOME									(19,269)	(17,276)	(15,701)
Interest expense									(19,155)	(19,699)	(16,775)
Interest and miscellaneous income (expense), net									3,863	2,878	2,750
Equity in income from subsidiaries									144,916	186,388	246,193
INCOME BEFORE INCOME TAXES									110,355	152,291	216,467
Income tax (expense) benefit									(2,219)	(572)	(553)
NET INCOME									108,136	151,719	215,914
Less: Net income attributable to noncontrolling interest									0	0	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.									108,136	151,719	215,914
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net of income tax effect of $0, $0 and $0									386	0	(4,606)
Cash flow hedges, net of income tax									8,296	4,214	21,422
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax									(1,630)	(208)	5,533
Total other comprehensive income									7,052	4,006	22,349
COMPREHENSIVE INCOME									115,188	155,725	238,263
Less: Comprehensive income attributable to noncontrolling interest									0	0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.									115,188	155,725	238,263
Non- guarantors | Reportable Legal Entities
Income Statement [Abstract]
SALES									816,138	819,596	815,915
Costs and Expenses
Cost of sales									(605,259)	(568,253)	(526,439)
Selling and general expenses									(22,139)	(23,448)	(27,532)
Other operating (expense) income, net									609	4,872	9,534
Costs and Expenses, Total									(626,789)	(586,829)	(544,437)
OPERATING INCOME									189,349	232,767	271,478
Interest expense									(355)	(1,816)	(2,915)
Interest and miscellaneous income (expense), net									(5,947)	(10,717)	(12,061)
Equity in income from subsidiaries									0	0	0
INCOME BEFORE INCOME TAXES									183,047	220,234	256,502
Income tax (expense) benefit									(23,017)	(21,109)	(4,511)
NET INCOME									160,030	199,125	251,991
Less: Net income attributable to noncontrolling interest									(15,114)	(12,737)	(5,798)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.									144,916	186,388	246,193
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net of income tax effect of $0, $0 and $0									(23,145)	9,114	10,930
Cash flow hedges, net of income tax									(3,267)	1,479	1,401
Actuarial change and amortization of pension and postretirement plan liabilities, net of income tax									0	0	0
Total other comprehensive income									(26,412)	10,593	12,331
COMPREHENSIVE INCOME									133,618	209,718	264,322
Less: Comprehensive income attributable to noncontrolling interest									(8,931)	(14,775)	(9,555)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.									$ 124,687	$ 194,943	$ 254,767

Consolidating Financial State_5

Consolidating Financial Statements - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 148,374	$ 112,653
Accounts receivable, less allowance for doubtful accounts	26,151	27,693
Inventory	15,703	24,141
Prepaid logging roads	11,976	11,207
Prepaid expenses	5,040	4,786
Other current assets	609	3,047
Total current assets	207,853	183,527
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,401,327	2,462,066
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 6)	85,609	80,797
NET PROPERTY, PLANT AND EQUIPMENT	22,751	23,378
RESTRICTED CASH (NOTE 19)	8,080	59,703
INVESTMENT IN SUBSIDIARIES	0	0
INTERCOMPANY RECEIVABLE	0	0
OTHER ASSETS (NOTE 20)	55,046	49,010
TOTAL ASSETS	2,780,666	2,858,481
CURRENT LIABILITIES
Accounts payable	18,019	25,148
Current maturities of long-term debt	0	3,375
Accrued taxes	3,178	3,781
Accrued payroll and benefits	10,416	9,662
Accrued interest	5,007	5,054
Deferred revenue	10,447	9,721
Other current liabilities	16,474	11,807
Total current liabilities	63,541	68,548
LONG-TERM DEBT	972,567	1,022,004
PENSION AND OTHER POSTRETIREMENT BENEFITS	29,800	31,905
OTHER NON-CURRENT LIABILITIES	60,208	43,084
INTERCOMPANY PAYABLE	0	0
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,556,873	1,593,023
Noncontrolling interest	97,677	99,917
TOTAL SHAREHOLDERS’ EQUITY	1,654,550	1,692,940	$ 1,496,752	$ 1,361,740
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	2,780,666	2,858,481
Consolidating Adjustments
CURRENT ASSETS
Cash and cash equivalents	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Inventory	0	0
Prepaid logging roads	0	0
Prepaid expenses	0	0
Other current assets	0	0
Total current assets	0	0
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 6)	0	0
NET PROPERTY, PLANT AND EQUIPMENT	0	0
RESTRICTED CASH (NOTE 19)	0	0
INVESTMENT IN SUBSIDIARIES	(4,856,774)	(4,345,564)
INTERCOMPANY RECEIVABLE	0	0
OTHER ASSETS (NOTE 20)	0	0
TOTAL ASSETS	(4,856,774)	(4,345,564)
CURRENT LIABILITIES
Accounts payable	0	0
Current maturities of long-term debt		0
Accrued taxes	0	0
Accrued payroll and benefits	0	0
Accrued interest	0	0
Deferred revenue	0	0
Other current liabilities	0	0
Total current liabilities	0	0
LONG-TERM DEBT	0	0
PENSION AND OTHER POSTRETIREMENT BENEFITS	0	0
OTHER NON-CURRENT LIABILITIES	0	0
INTERCOMPANY PAYABLE	0	0
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	(4,856,774)	(4,345,564)
Noncontrolling interest	0	0
TOTAL SHAREHOLDERS’ EQUITY	(4,856,774)	(4,345,564)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	(4,856,774)	(4,345,564)
Rayonier Inc. (Parent Issuer) | Reportable Legal Entities
CURRENT ASSETS
Cash and cash equivalents	361	48,564
Accounts receivable, less allowance for doubtful accounts	0	0
Inventory	0	0
Prepaid logging roads	0	0
Prepaid expenses	0	0
Other current assets	0	0
Total current assets	361	48,564
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 6)	0	0
NET PROPERTY, PLANT AND EQUIPMENT	0	0
RESTRICTED CASH (NOTE 19)	0	0
INVESTMENT IN SUBSIDIARIES	1,833,899	1,531,156
INTERCOMPANY RECEIVABLE	49,461	40,067
OTHER ASSETS (NOTE 20)	2	2
TOTAL ASSETS	1,883,723	1,619,789
CURRENT LIABILITIES
Accounts payable	0	0
Current maturities of long-term debt		0
Accrued taxes	0	0
Accrued payroll and benefits	0	0
Accrued interest	3,047	3,047
Deferred revenue	0	0
Other current liabilities	0	0
Total current liabilities	3,047	3,047
LONG-TERM DEBT	323,803	323,434
PENSION AND OTHER POSTRETIREMENT BENEFITS	0	0
OTHER NON-CURRENT LIABILITIES	0	0
INTERCOMPANY PAYABLE	0	(299,715)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,556,873	1,593,023
Noncontrolling interest	0	0
TOTAL SHAREHOLDERS’ EQUITY	1,556,873	1,593,023
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,883,723	1,619,789
Subsidiary Guarantors | Reportable Legal Entities
CURRENT ASSETS
Cash and cash equivalents	104,777	25,042
Accounts receivable, less allowance for doubtful accounts	3,752	3,726
Inventory	0	0
Prepaid logging roads	0	0
Prepaid expenses	977	759
Other current assets	108	14
Total current assets	109,614	29,541
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 6)	0	0
NET PROPERTY, PLANT AND EQUIPMENT	16,940	21
RESTRICTED CASH (NOTE 19)	0	0
INVESTMENT IN SUBSIDIARIES	3,022,875	2,814,408
INTERCOMPANY RECEIVABLE	(638,424)	(628,167)
OTHER ASSETS (NOTE 20)	19,244	12,680
TOTAL ASSETS	2,530,249	2,228,483
CURRENT LIABILITIES
Accounts payable	1,616	2,838
Current maturities of long-term debt		0
Accrued taxes	8	48
Accrued payroll and benefits	5,848	5,298
Accrued interest	1,960	1,995
Deferred revenue	0	0
Other current liabilities	216	564
Total current liabilities	9,648	10,743
LONG-TERM DEBT	648,764	663,570
PENSION AND OTHER POSTRETIREMENT BENEFITS	30,484	32,589
OTHER NON-CURRENT LIABILITIES	7,454	9,386
INTERCOMPANY PAYABLE	0	(18,961)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,833,899	1,531,156
Noncontrolling interest	0	0
TOTAL SHAREHOLDERS’ EQUITY	1,833,899	1,531,156
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	2,530,249	2,228,483
Non- guarantors | Reportable Legal Entities
CURRENT ASSETS
Cash and cash equivalents	43,236	39,047
Accounts receivable, less allowance for doubtful accounts	22,399	23,967
Inventory	15,703	24,141
Prepaid logging roads	11,976	11,207
Prepaid expenses	4,063	4,027
Other current assets	501	3,033
Total current assets	97,878	105,422
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,401,327	2,462,066
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (NOTE 6)	85,609	80,797
NET PROPERTY, PLANT AND EQUIPMENT	5,811	23,357
RESTRICTED CASH (NOTE 19)	8,080	59,703
INVESTMENT IN SUBSIDIARIES	0	0
INTERCOMPANY RECEIVABLE	588,963	588,100
OTHER ASSETS (NOTE 20)	35,800	36,328
TOTAL ASSETS	3,223,468	3,355,773
CURRENT LIABILITIES
Accounts payable	16,403	22,310
Current maturities of long-term debt		3,375
Accrued taxes	3,170	3,733
Accrued payroll and benefits	4,568	4,364
Accrued interest	0	12
Deferred revenue	10,447	9,721
Other current liabilities	16,258	11,243
Total current liabilities	50,846	54,758
LONG-TERM DEBT	0	35,000
PENSION AND OTHER POSTRETIREMENT BENEFITS	(684)	(684)
OTHER NON-CURRENT LIABILITIES	52,754	33,698
INTERCOMPANY PAYABLE	0	318,676
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	3,022,875	2,814,408
Noncontrolling interest	97,677	99,917
TOTAL SHAREHOLDERS’ EQUITY	3,120,552	2,914,325
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 3,223,468	$ 3,355,773

Consolidating Financial State_6

Consolidating Financial Statements - Cash Flow (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES		$ 310,096	$ 256,284	$ 203,801
INVESTING ACTIVITIES
Capital expenditures		(62,325)	(65,345)	(58,723)
Real estate development investments		(9,501)	(15,784)	(8,746)
Purchase of timberlands		(57,608)	(242,910)	(366,481)
Assets purchased in business acquisition		0	0	(887)
Net proceeds from large disposition of timberlands		0	95,243	203,862
Rayonier office building under construction		0	(6,084)	(6,307)
Investment in Subsidiaries		0	0	0
Other		(3,421)	(373)	2,311
CASH USED FOR INVESTING ACTIVITIES		(132,855)	(235,253)	(234,971)
FINANCING ACTIVITIES
Issuance of debt		1,014	63,389	695,916
Repayment of debt		(54,416)	(100,157)	(458,415)
Dividends paid		(136,772)	(127,069)	(122,845)
Proceeds from the issuance of common shares under incentive stock plan		8,591	4,751	1,576
Proceeds from the issuance of common shares from equity offering, net of costs		0	152,390	0
Repurchase of common shares		(2,984)	(176)	(690)
Proceeds from shareholder distribution hedge		2,025	0	0
Distribution to minority shareholder		(11,172)	0	0
Debt issuance costs		0	0	(818)
Issuance of intercompany notes		0	0	0
Intercompany distributions		0	0	0
Other		0	0	(301)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES		(193,714)	(6,872)	114,423
EFFECT OF EXCHANGE RATE CHANGES ON CASH		571	580	(938)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (a)
Change in cash, cash equivalents and restricted cash	[1]	(15,902)	14,739	82,315
Balance, beginning of year		172,356	157,617	75,302
Balance, end of year		156,454	172,356	157,617
Consolidating Adjustments
Consolidated Statements of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES		0	0	0
INVESTING ACTIVITIES
Capital expenditures		0	0	0
Real estate development investments		0	0	0
Purchase of timberlands		0	0	0
Assets purchased in business acquisition				0
Net proceeds from large disposition of timberlands			0	0
Rayonier office building under construction			0	0
Investment in Subsidiaries		(6,128)	(38,546)	293,820
Other		0	0	0
CASH USED FOR INVESTING ACTIVITIES		(6,128)	(38,546)	293,820
FINANCING ACTIVITIES
Issuance of debt		0	0	0
Repayment of debt		0	0	0
Dividends paid		0	0	0
Proceeds from the issuance of common shares under incentive stock plan		0	0	0
Proceeds from the issuance of common shares from equity offering, net of costs			0
Repurchase of common shares		0	0	0
Proceeds from shareholder distribution hedge		0
Distribution to minority shareholder		0
Debt issuance costs				0
Issuance of intercompany notes		0	0	0
Intercompany distributions		6,128	38,546	(293,820)
Other				0
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES		6,128	38,546	(293,820)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		0	0	0
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (a)
Change in cash, cash equivalents and restricted cash		0	0	0
Balance, beginning of year		0	0	0
Balance, end of year		0	0	0
Rayonier Inc. (Parent Issuer) | Reportable Legal Entities
Consolidated Statements of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES		284,781	(48,104)	(7,480)
INVESTING ACTIVITIES
Capital expenditures		0	0	0
Real estate development investments		0	0	0
Purchase of timberlands		0	0	0
Assets purchased in business acquisition				0
Net proceeds from large disposition of timberlands			0	0
Rayonier office building under construction			0	0
Investment in Subsidiaries		0	0	0
Other		0	0	0
CASH USED FOR INVESTING ACTIVITIES		0	0	0
FINANCING ACTIVITIES
Issuance of debt		0	0	0
Repayment of debt		0	0	0
Dividends paid		(136,698)	(127,069)	(122,845)
Proceeds from the issuance of common shares under incentive stock plan		8,591	4,751	1,576
Proceeds from the issuance of common shares from equity offering, net of costs			152,390
Repurchase of common shares		(2,984)	(176)	(690)
Proceeds from shareholder distribution hedge		0
Distribution to minority shareholder		0
Debt issuance costs				0
Issuance of intercompany notes		299,715	(32,000)	(12,000)
Intercompany distributions		(501,608)	77,319	160,597
Other				(177)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES		(332,984)	75,215	26,461
EFFECT OF EXCHANGE RATE CHANGES ON CASH		0	0	0
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (a)
Change in cash, cash equivalents and restricted cash		(48,203)	27,111	18,981
Balance, beginning of year		48,564	21,453	2,472
Balance, end of year		361	48,564	21,453
Subsidiary Guarantors | Reportable Legal Entities
Consolidated Statements of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES		182,057	111,431	113,775
INVESTING ACTIVITIES
Capital expenditures		(59)	0	0
Real estate development investments		0	0	0
Purchase of timberlands		0	0	0
Assets purchased in business acquisition				0
Net proceeds from large disposition of timberlands			0	0
Rayonier office building under construction			0	0
Investment in Subsidiaries		6,128	38,546	(293,820)
Other		0	0	0
CASH USED FOR INVESTING ACTIVITIES		6,069	38,546	(293,820)
FINANCING ACTIVITIES
Issuance of debt		0	25,000	548,000
Repayment of debt		(50,000)	(15,000)	(140,000)
Dividends paid		(74)	0	0
Proceeds from the issuance of common shares under incentive stock plan		0	0	0
Proceeds from the issuance of common shares from equity offering, net of costs			0
Repurchase of common shares		0	0	0
Proceeds from shareholder distribution hedge		0
Distribution to minority shareholder		0
Debt issuance costs				(818)
Issuance of intercompany notes		18,961	0	0
Intercompany distributions		(77,278)	(144,396)	(230,893)
Other				0
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES		(108,391)	(134,396)	176,289
EFFECT OF EXCHANGE RATE CHANGES ON CASH		0	0	0
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (a)
Change in cash, cash equivalents and restricted cash		79,735	15,581	(3,756)
Balance, beginning of year		25,042	9,461	13,217
Balance, end of year		104,777	25,042	9,461
Non- guarantors | Reportable Legal Entities
Consolidated Statements of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES		(156,742)	192,957	97,506
INVESTING ACTIVITIES
Capital expenditures		(62,266)	(65,345)	(58,723)
Real estate development investments		(9,501)	(15,784)	(8,746)
Purchase of timberlands		(57,608)	(242,910)	(366,481)
Assets purchased in business acquisition				(887)
Net proceeds from large disposition of timberlands			95,243	203,862
Rayonier office building under construction			(6,084)	(6,307)
Investment in Subsidiaries		0	0	0
Other		(3,421)	(373)	2,311
CASH USED FOR INVESTING ACTIVITIES		(132,796)	(235,253)	(234,971)
FINANCING ACTIVITIES
Issuance of debt		1,014	38,389	147,916
Repayment of debt		(4,416)	(85,157)	(318,415)
Dividends paid		0	0	0
Proceeds from the issuance of common shares under incentive stock plan		0	0	0
Proceeds from the issuance of common shares from equity offering, net of costs			0
Repurchase of common shares		0	0	0
Proceeds from shareholder distribution hedge		2,025
Distribution to minority shareholder		(11,172)
Debt issuance costs				0
Issuance of intercompany notes		(318,676)	32,000	12,000
Intercompany distributions		572,758	28,531	364,116
Other				(124)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES		241,533	13,763	205,493
EFFECT OF EXCHANGE RATE CHANGES ON CASH		571	580	(938)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (a)
Change in cash, cash equivalents and restricted cash		(47,434)	(27,953)	67,090
Balance, beginning of year		98,750	126,703	59,613
Balance, end of year		$ 51,316	$ 98,750	$ 126,703
[1]	(a)Due to the adoption of ASU No. 2016-08, restricted cash is now included with cash and cash equivalents when reconciling the beginning-of-year and end-of-year total amounts shown and therefore changes in restricted cash are no longer reported as investing activities. Prior year amounts have been restated to conform to current year presentation. For additional information and a reconciliation of cash, see

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Additions Charged to Cost and Expenses	$ (3,950)	$ (13,028)	$ (3,613)
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	23	33	42
Additions Charged to Cost and Expenses	0	0	0
Deductions	(15)	(10)	(9)
Balance at End of Year	8	23	33
Deferred tax asset valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	34,889	21,861	18,248
Additions Charged to Cost and Expenses	3,950	13,028	3,613
Deductions	0	0	0
Balance at End of Year	$ 38,839	$ 34,889	$ 21,861