Rayonier (RYN) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Entity Addresses [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity Registrant Name	RAYONIER INC.
Entity Incorporation, State or Country Code	NC
Entity File Number	1-6780
Entity Tax Identification Number	13-2607329
Entity Address, Address Line One	1 RAYONIER WAY
Entity Address, City or Town	WILDLIGHT
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32097
City Area Code	904
Local Phone Number	357-9100
Title of 12(b) Security	Common Shares, no par value, of Rayonier Inc.
Trading Symbol	RYN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares/Units Outstanding		143,152,315
Entity Central Index key	0000052827
Current Fiscal year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Rayonier Limited Partnership
Entity Addresses [Line Items]
Entity Registrant Name	Rayonier, L.P.
Entity Incorporation, State or Country Code	DE
Entity File Number	333-237246
Entity Tax Identification Number	91-1313292
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares/Units Outstanding		3,851,897
Entity Central Index key	0001806931
Current Fiscal year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
SALES	$ 364,726	$ 198,875	$ 847,604	$ 653,635
Costs and Expenses
Cost of sales	(233,308)	(180,944)	(578,937)	(545,333)
Selling and general expenses	(13,174)	(14,498)	(41,899)	(37,036)
Other operating income (expense), net	5,070	(1,653)	9,474	(19,247)
Costs and expenses	(241,412)	(197,095)	(611,362)	(601,616)
OPERATING INCOME	123,314	1,780	236,242	52,019
Interest expense	(11,265)	(10,421)	(34,292)	(28,457)
Interest and other miscellaneous income (expense), net	1,274	(137)	127	1,232
INCOME (LOSS) BEFORE INCOME TAXES	113,323	(8,778)	202,077	24,794
Income tax expense	(2,811)	(720)	(13,114)	(7,416)
NET INCOME (LOSS)	110,512	(9,498)	188,963	17,378
Less: Net (income) loss attributable to noncontrolling interests in the Operating Partnership	(2,210)	25	(4,303)	(195)
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	(32,471)	8,715	(40,775)	9,647
NET INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC.	75,831	(758)	143,885	26,830
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0, and $0	(6,622)	12,476	(19,670)	(8,290)
Cash flow hedges, net of income tax effect of $833, $645, $2,207 and $530	1,711	7,861	52,693	(82,890)
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0	294	217	881	652
Total other comprehensive (loss) income	(4,617)	20,554	33,904	(90,528)
COMPREHENSIVE INCOME (LOSS)	105,895	11,056	222,867	(73,150)
Less: Comprehensive income attributable to noncontrolling interests in the Operating Partnership	(2,118)	(508)	(5,490)	(1,184)
Less: Comprehensive (income) loss attributable to noncontrolling interests in consolidated affiliates	(31,099)	5,017	(36,168)	10,761
Comprehensive INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHLDERS	$ 72,678	$ 15,565	$ 181,209	$ (63,573)
EARNINGS PER COMMON SHARE
Basic earnings (loss) per share attributable to Rayonier Inc. (in dollars per share)	$ 0.53	$ (0.01)	$ 1.03	$ 0.20
Diluted earnings (loss) per share attributable to Rayonier Inc. (in dollars per share)	$ 0.53	$ (0.01)	$ 1.03	$ 0.20
Rayonier Limited Partnership
SALES	$ 364,726	$ 198,875	$ 847,604	$ 653,635
Costs and Expenses
Cost of sales	(233,308)	(180,944)	(578,937)	(545,333)
Selling and general expenses	(13,174)	(14,498)	(41,899)	(37,036)
Other operating income (expense), net	5,070	(1,653)	9,474	(19,247)
Costs and expenses	(241,412)	(197,095)	(611,362)	(601,616)
OPERATING INCOME	123,314	1,780	236,242	52,019
Interest expense	(11,265)	(10,421)	(34,292)	(28,457)
Interest and other miscellaneous income (expense), net	1,274	(137)	127	1,232
INCOME (LOSS) BEFORE INCOME TAXES	113,323	(8,778)	202,077	24,794
Income tax expense	(2,811)	(720)	(13,114)	(7,416)
NET INCOME (LOSS)	110,512	(9,498)	188,963	17,378
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	(32,471)	8,715	(40,775)	9,647
NET INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC.	78,041	(783)	148,188	27,025
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment, net of income tax effect of $0, $0, $0, and $0	(6,622)	12,476	(19,670)	(8,290)
Cash flow hedges, net of income tax effect of $833, $645, $2,207 and $530	1,711	7,861	52,693	(82,890)
Amortization of pension and postretirement plans, net of income tax expense of $0, $0, $0 and $0	294	217	881	652
Total other comprehensive (loss) income	(4,617)	20,554	33,904	(90,528)
COMPREHENSIVE INCOME (LOSS)	105,895	11,056	222,867	(73,150)
Less: Comprehensive (income) loss attributable to noncontrolling interests in consolidated affiliates	(31,099)	5,017	(36,168)	10,761
Comprehensive INCOME (LOSS) ATTRIBUTABLE TO RAYONIER INC / COMMON UNITHLDERS	$ 74,796	$ 16,073	$ 186,699	$ (62,389)
EARNINGS PER UNIT
Basic earnings (loss) per unit attributable to Rayonier, L.P. (in dollars per unit)	$ 0.53	$ (0.01)	$ 1.03	$ 0.20
Diluted earnings (loss) per unit attributable to Rayonier, L.P. (in dollars per unit)	$ 0.53	$ (0.01)	$ 1.03	$ 0.20

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Foreign currency translation adjustment, tax expense	$ 0	$ 0	$ 0	$ 0
Cash flow hedges, tax expense	833	645	2,207	530
Amortization of pension and postretirement plans, tax expense	0	0	0	0
Rayonier Limited Partnership
Foreign currency translation adjustment, tax expense	0	0	0	0
Cash flow hedges, tax expense	833	645	2,207	530
Amortization of pension and postretirement plans, tax expense	$ 0	$ 0	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Total cash and cash equivalents	$ 431,806	$ 84,507
Accounts receivable, less allowance for doubtful accounts of $81 and $25	42,352	49,082
Inventory	18,592	10,594
Prepaid expenses	19,362	16,168
Assets held for sale	56,397	3,449
Other current assets	2,212	6,765
Total current assets	619,930	170,565
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,788,991	3,262,126
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	110,592	108,518
PROPERTY, PLANT AND EQUIPMENT
Land	6,569	6,548
Buildings	31,028	31,024
Machinery and equipment	4,392	4,615
Construction in progress	710	452
Total property, plant and equipment, gross	42,699	42,639
Less — accumulated depreciation	(14,167)	(12,238)
Total property, plant and equipment, net	28,532	30,401
RIGHT-OF-USE ASSETS	107,631	108,992
OTHER ASSETS	50,113	45,156
TOTAL ASSETS	3,706,414	3,728,733
CURRENT LIABILITIES
Accounts payable	27,989	24,790
Accrued taxes	18,503	7,347
Accrued payroll and benefits	11,210	12,327
Accrued interest	12,555	6,325
Deferred revenue	19,899	11,112
Distribution payable, Timber Funds	49,209	0
Other current liabilities	28,983	29,234
Total current liabilities	368,235	91,135
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	1,167,967
PENSION AND OTHER POSTRETIREMENT BENEFITS	22,173	23,344
LONG-TERM LEASE LIABILITY	99,275	100,251
OTHER NON-CURRENT LIABILITIES	115,749	160,722
COMMITMENTS AND CONTINGENCIES
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 4,428,900 and 4,428,900 Common Units outstanding, respectively	140,555	130,121
SHAREHOLDERS’ EQUITY
Common stock	1,296,877	1,101,675
Retained earnings	450,076	446,267
Accumulated other comprehensive loss	(36,560)	(73,885)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,710,393	1,474,057
Noncontrolling interests in consolidated affiliates	82,067	388,588
TOTAL SHAREHOLDERS’ EQUITY	1,792,460	1,862,645
CAPITAL
Accumulated other comprehensive loss	(36,560)	(73,885)
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY	3,706,414	3,728,733
Excluding Timber Funds
CURRENT ASSETS
Total cash and cash equivalents	419,604	80,454
PROPERTY, PLANT AND EQUIPMENT
RESTRICTED CASH, EXCLUDING TIMBER FUNDS	625	2,975
CURRENT LIABILITIES
Less: Current maturities of long-term debt, excluding Timber Funds	199,887	0
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	1,167,967	1,300,336
Timber Funds
CURRENT ASSETS
Total cash and cash equivalents	12,202	4,053
Restricted cash, Timber Funds	49,209	0
CURRENT LIABILITIES
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	0	60,179
Rayonier Limited Partnership
CURRENT ASSETS
Total cash and cash equivalents	431,806	84,507
Accounts receivable, less allowance for doubtful accounts of $81 and $25	42,352	49,082
Inventory	18,592	10,594
Prepaid expenses	19,362	16,168
Assets held for sale	56,397	3,449
Other current assets	2,212	6,765
Total current assets	619,930	170,565
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,788,991	3,262,126
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	110,592	108,518
PROPERTY, PLANT AND EQUIPMENT
Land	6,569	6,548
Buildings	31,028	31,024
Machinery and equipment	4,392	4,615
Construction in progress	710	452
Total property, plant and equipment, gross	42,699	42,639
Less — accumulated depreciation	(14,167)	(12,238)
Total property, plant and equipment, net	28,532	30,401
RIGHT-OF-USE ASSETS	107,631	108,992
OTHER ASSETS	50,113	45,156
TOTAL ASSETS	3,706,414	3,728,733
CURRENT LIABILITIES
Accounts payable	27,989	24,790
Accrued taxes	18,503	7,347
Accrued payroll and benefits	11,210	12,327
Accrued interest	12,555	6,325
Deferred revenue	19,899	11,112
Distribution payable, Timber Funds	49,209	0
Other current liabilities	28,983	29,234
Total current liabilities	368,235	91,135
PENSION AND OTHER POSTRETIREMENT BENEFITS	22,173	23,344
LONG-TERM LEASE LIABILITY	99,275	100,251
OTHER NON-CURRENT LIABILITIES	115,749	160,722
NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP/REDEEMABLE OPERATING PARTNERSHIP UNITS 4,428,900 and 4,428,900 Common Units outstanding, respectively	140,555	130,121
SHAREHOLDERS’ EQUITY
Accumulated other comprehensive loss	(32,834)	(71,345)
CAPITAL
General partners’ capital	17,432	15,454
Limited partners’ capital	1,725,795	1,529,948
Accumulated other comprehensive loss	(32,834)	(71,345)
TOTAL CONTROLLING INTEREST CAPITAL	1,710,393	1,474,057
Noncontrolling interests in consolidated affiliates	82,067	388,588
TOTAL CAPITAL	1,792,460	1,862,645
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY	3,706,414	3,728,733
Rayonier Limited Partnership | Excluding Timber Funds
CURRENT ASSETS
Total cash and cash equivalents	419,604	80,454
PROPERTY, PLANT AND EQUIPMENT
RESTRICTED CASH, EXCLUDING TIMBER FUNDS	625	2,975
CURRENT LIABILITIES
Less: Current maturities of long-term debt, excluding Timber Funds	199,887	0
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	1,167,967	1,300,336
Rayonier Limited Partnership | Timber Funds
CURRENT ASSETS
Total cash and cash equivalents	12,202	4,053
Restricted cash, Timber Funds	49,209	0
CURRENT LIABILITIES
LONG-TERM DEBT, NET OF DEFERRED FINANCING COSTS	$ 0	$ 60,179

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Allowance for doubtful accounts	$ 81	$ 25
SHAREHOLDERS’ EQUITY
Common shares, shares authorized (in shares)	480,000,000	480,000,000
Common shares, shares issued (in shares)	143,049,458	137,678,822
Common shares, shares outstanding (in shares)	143,049,458	137,678,822
Rayonier Limited Partnership
CURRENT ASSETS
Allowance for doubtful accounts	$ 81	$ 25
SHAREHOLDERS’ EQUITY
Common units outstanding (in shares)	3,939,309	4,428,900

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands		Total	Rayonier Limited Partnership	UnitsGeneral Partners’ CapitalRayonier Limited Partnership	UnitsLimited Partners’ CapitalRayonier Limited Partnership	Accumulated Other Comprehensive LossRayonier Limited Partnership	Noncontrolling Interests in Consolidated AffiliatesRayonier Limited Partnership	Common Shares	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests in Consolidated Affiliates
Beginning balance (in shares) at Dec. 31, 2019								129,331,069
Beginning balance at Dec. 31, 2019		$ 1,537,642						$ 888,177	$ 583,006	$ (31,202)	$ 97,661
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		26,421							25,854		567
Dividends ($0.27 per share)		(34,813)							(34,813)
Issuance of shares under incentive stock plans (in shares)								2,407
Issuance of shares under incentive stock plans		66						$ 66
Stock-based compensation		1,510						$ 1,510
Repurchase of common shares (in shares)								(152,237)
Repurchase of common shares		(3,152)							(3,152)
Amortization of pension and postretirement plan liabilities		217	$ 217			$ 217				217
Foreign currency translation adjustment		(44,023)	(44,023)			(33,894)	$ (10,129)			(33,894)	(10,129)
Cash flow hedges		(83,475)	(83,475)			(82,376)	(1,099)			(82,376)	(1,099)
Distributions to noncontrolling interests in consolidated affiliates		(725)	(725)				(725)				(725)
Ending balance (in shares) at Mar. 31, 2020								129,181,239
Ending balance at Mar. 31, 2020		1,399,668						$ 889,753	570,895	(147,255)	86,275
Beginning balance (in shares) at Dec. 31, 2019								129,331,069
Beginning balance at Dec. 31, 2019		1,537,642						$ 888,177	583,006	(31,202)	97,661
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to noncontrolling interests in the Operating Partnership		(195)
Amortization of pension and postretirement plan liabilities		652	652
Foreign currency translation adjustment		(8,290)	(8,290)
Ending balance (in shares) at Sep. 30, 2020								136,518,006
Ending balance at Sep. 30, 2020		1,851,148						$ 1,065,188	485,636	(121,605)	421,929
Beginning balance (in shares) at Mar. 31, 2020								129,181,239
Beginning balance at Mar. 31, 2020		1,399,668						$ 889,753	570,895	(147,255)	86,275
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		455							1,954		(1,499)
Net income (loss) attributable to noncontrolling interests in the Operating Partnership		(219)							(219)
Dividends ($0.27 per share)	[1]	(36,957)							(36,957)
Issuances of shares associated with the merger with Pope Resources (in shares)								7,181,071
Issuances of shares associated with the merger with Pope Resources		172,418						$ 172,418
Issuance of shares under incentive stock plans (in shares)								215,970
Issuance of shares under incentive stock plans		222						$ 222
Stock-based compensation		2,668						$ 2,668
Repurchase of common shares (in shares)								(66,168)
Repurchase of common shares		(1,572)						$ (1,572)
Acquisition of noncontrolling interests in consolidated affiliates		372,381	372,381				372,381				372,381
Adjustment of noncontrolling interests in the Operating Partnership		(3,992)							(3,992)
Amortization of pension and postretirement plan liabilities		217	217			217				217
Foreign currency translation adjustment		23,258	23,258			17,872	5,386			17,872	5,386
Cash flow hedges		(7,276)	(7,276)			(8,306)	1,030			(8,306)	1,030
Allocation of other comprehensive income (loss) to noncontrolling interests in the Operating Partnership		(457)								(457)
Distributions to noncontrolling interests in consolidated affiliates		(6,856)	(6,856)				(6,856)				(6,856)
Ending balance (in shares) at Jun. 30, 2020								136,512,112
Ending balance at Jun. 30, 2020		1,913,958						$ 1,063,489	531,681	(137,929)	456,717
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(9,498)							(783)		(8,715)
Net income (loss) attributable to noncontrolling interests in the Operating Partnership		25							25
Dividends ($0.27 per share)	[1]	(37,257)							(37,257)
Costs associated with the “At-the-Market” (ATM) offering program		(456)	(456)	$ (5)	$ (451)			$ (456)
Issuance of shares under incentive stock plans (in shares)								6,079
Issuance of shares under incentive stock plans		167						$ 167
Stock-based compensation		1,965						$ 1,965
Repurchase of common shares (in shares)								(1,185)
Repurchase of common shares		(4)						$ (4)
Measurement period adjustment of noncontrolling interests in consolidated affiliates		(701)	(701)				(701)				(701)
Adjustment of noncontrolling interests in the Operating Partnership		(8,030)							(8,030)
Conversion of common units to common shares (in shares)								1,000
Conversion of units into common shares		27						$ 27
Amortization of pension and postretirement plan liabilities		217	217			217				217
Foreign currency translation adjustment		12,476	12,476			9,160	3,316			9,160	3,316
Cash flow hedges		7,861	7,861			7,479	382			7,479	382
Allocation of other comprehensive income (loss) to noncontrolling interests in the Operating Partnership		(532)								(532)
Distributions to noncontrolling interests in consolidated affiliates		(667)	(667)				(667)				(667)
Noncontrolling interests in consolidated affiliates redemption of shares		(28,403)	(28,403)				(28,403)				(28,403)
Ending balance (in shares) at Sep. 30, 2020								136,518,006
Ending balance at Sep. 30, 2020		1,851,148						$ 1,065,188	485,636	(121,605)	421,929
Beginning balance (in shares) at Dec. 31, 2020								137,678,822
Beginning balance at Dec. 31, 2020		1,862,645						$ 1,101,675	446,267	(73,885)	388,588
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		15,032							11,189		3,843
Net income (loss) attributable to noncontrolling interests in the Operating Partnership		(341)							(341)
Dividends ($0.27 per share)	[1]	(37,532)							(37,532)
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs of $381 (in shares)								1,107,814
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs of $197		36,708						$ 36,708
Issuance of shares under incentive stock plans (in shares)								39,140
Issuance of shares under incentive stock plans		1,166						$ 1,166
Stock-based compensation		2,156						$ 2,156
Repurchase of common shares (in shares)								(5,020)
Repurchase of common shares		(155)						$ (155)
Measurement period adjustment of noncontrolling interests in consolidated affiliates		655	655				655				655
Adjustment of noncontrolling interests in the Operating Partnership		(11,867)							(11,867)
Conversion of common units to common shares (in shares)								150,134
Conversion of units into common shares		4,715						$ 4,715
Amortization of pension and postretirement plan liabilities		294	294			294				294
Foreign currency translation adjustment		(14,288)	(14,288)			(11,652)	(2,636)			(11,652)	(2,636)
Cash flow hedges		61,001	61,001			61,628	(627)			61,628	(627)
Allocation of other comprehensive income (loss) to noncontrolling interests in the Operating Partnership		(1,531)								(1,531)
Distributions to noncontrolling interests in consolidated affiliates		(8,737)	(8,737)				(8,737)				(8,737)
Ending balance (in shares) at Mar. 31, 2021								138,970,890
Ending balance at Mar. 31, 2021		1,909,921						$ 1,146,265	407,716	(25,146)	381,086
Beginning balance (in shares) at Dec. 31, 2020								137,678,822
Beginning balance at Dec. 31, 2020		1,862,645						$ 1,101,675	446,267	(73,885)	388,588
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to noncontrolling interests in the Operating Partnership		(4,303)
Amortization of pension and postretirement plan liabilities		881	881
Foreign currency translation adjustment		(19,670)	(19,670)
Ending balance (in shares) at Sep. 30, 2021								143,049,458
Ending balance at Sep. 30, 2021		1,792,460						$ 1,296,877	450,076	(36,560)	82,067
Beginning balance (in shares) at Mar. 31, 2021								138,970,890
Beginning balance at Mar. 31, 2021		1,909,921						$ 1,146,265	407,716	(25,146)	381,086
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		63,420							58,959		4,461
Net income (loss) attributable to noncontrolling interests in the Operating Partnership		(1,753)							(1,753)
Dividends ($0.27 per share)	[1]	(37,981)							(37,981)
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs of $381 (in shares)								2,199,459
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs of $197		79,994						$ 79,994
Issuance of shares under incentive stock plans (in shares)								185,544
Issuance of shares under incentive stock plans		3,325						$ 3,325
Stock-based compensation		2,852						$ 2,852
Repurchase of common shares (in shares)								(42,425)
Repurchase of common shares		(1,453)						$ (1,453)
Measurement period adjustment of noncontrolling interests in consolidated affiliates		9,034	9,034				9,034				9,034
Adjustment of noncontrolling interests in the Operating Partnership		(15,410)							(15,410)
Conversion of common units to common shares (in shares)								6,439
Conversion of units into common shares		241						$ 241
Amortization of pension and postretirement plan liabilities		294	294			294				294
Foreign currency translation adjustment		1,239	1,239			1,025	214			1,025	214
Cash flow hedges		(10,019)	(10,019)			(9,833)	(186)			(9,833)	(186)
Allocation of other comprehensive income (loss) to noncontrolling interests in the Operating Partnership		253								253
Distributions to noncontrolling interests in consolidated affiliates		(6,474)	(6,474)				(6,474)				(6,474)
Ending balance (in shares) at Jun. 30, 2021								141,319,907
Ending balance at Jun. 30, 2021		1,997,483						$ 1,231,224	411,531	(33,407)	388,135
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		110,512							78,041		32,471
Net income (loss) attributable to noncontrolling interests in the Operating Partnership		(2,210)							(2,210)
Dividends ($0.27 per share)	[1]	(39,032)							(39,032)
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs of $381 (in shares)								1,390,968
Issuance of shares under the “at-the-market” equity offering, net of commissions and offering costs of $197		51,132						$ 51,132
Issuance of shares under incentive stock plans (in shares)								5,740
Issuance of shares under incentive stock plans		183						$ 183
Stock-based compensation		2,086						$ 2,086
Repurchase of common shares (in shares)								(175)
Repurchase of common shares		(6)						$ (6)
Disposition of noncontrolling interests in consolidated affiliates		(255,486)	(255,486)				(255,486)				(255,486)
Adjustment of noncontrolling interests in the Operating Partnership		1,746							1,746
Conversion of common units to common shares (in shares)								333,018
Conversion of units into common shares		12,258						$ 12,258
Amortization of pension and postretirement plan liabilities		294	294			294				294
Foreign currency translation adjustment		(6,622)	(6,622)			(5,743)	(879)			(5,743)	(879)
Cash flow hedges		1,711	1,711			$ 2,204	(493)			2,204	(493)
Allocation of other comprehensive income (loss) to noncontrolling interests in the Operating Partnership		92								92
Distributions to noncontrolling interests in consolidated affiliates		(53,562)	(53,562)				(53,562)				(53,562)
Noncontrolling interests in consolidated affiliates redemption of shares		(28,119)	$ (28,119)				$ (28,119)				(28,119)
Ending balance (in shares) at Sep. 30, 2021								143,049,458
Ending balance at Sep. 30, 2021		$ 1,792,460						$ 1,296,877	$ 450,076	$ (36,560)	$ 82,067
[1]	For information regarding distributions to noncontrolling interests in the Operating Partnership, see the Rayonier Inc. Consolidated Statements of Cash Flows and Note 6 — Noncontrolling Interests

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021		Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.27	$ 0.27	$ 0.27	[1]	$ 0.27	$ 0.27	$ 0.27
Offering issuance costs	$ 691	$ 927	$ 197
[1]	For information regarding distributions to noncontrolling interests in the Operating Partnership, see the Rayonier Inc. Consolidated Statements of Cash Flows and Note 6 — Noncontrolling Interests

CONSOLIDATED STATEMENTS OF CH_3

CONSOLIDATED STATEMENTS OF CHANGES IN CAPITAL (Unaudited) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Partners' Capital [Roll Forward]
Net Income (Loss)	$ 110,512			$ (9,498)			$ 188,963	$ 17,378
Costs associated with the “At-the-Market” (ATM) program				(456)
Measurement period adjustment of noncontrolling interests in consolidated affiliates		$ 9,034	$ 655	(701)
Acquisition of noncontrolling interests in consolidated affiliates					$ 372,381
Disposition of noncontrolling interests in consolidated affiliates	(255,486)
Amortization of pension and postretirement plan liabilities	294	294	294	217	217	$ 217	881	652
Foreign currency translation adjustment	(6,622)	1,239	(14,288)	12,476	23,258	(44,023)	(19,670)	(8,290)
Cash flow hedges	1,711	(10,019)	61,001	7,861	(7,276)	(83,475)
Distributions to noncontrolling interests in consolidated affiliates	(53,562)	(6,474)	(8,737)	(667)	(6,856)	(725)
Noncontrolling interests in consolidated affiliates redemption of unit equivalents	(28,119)			(28,403)
Rayonier Limited Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	1,997,483	1,909,921	1,862,645	1,913,958	1,399,668	1,537,642	1,862,645	1,537,642
Issuance of units associated with the merger with Pope Resources					172,418
Net Income (Loss)	110,512	63,420	15,032	(9,498)	455	26,421	188,963	17,378
Distributions on units ($0.27 per unit)	(40,096)	(39,135)	(38,687)	(38,457)	(38,157)	(34,813)
Costs associated with the “At-the-Market” (ATM) program				(456)
Issuance of units under the “at-the-market” equity offering, net of commissions and offering costs of $197	51,132	79,994	36,708
Issuance of units under incentive stock plans	183	3,325	1,166	167	222	66
Stock-based compensation	2,086	2,852	2,156	1,965	2,668	1,510
Repurchase of units	(6)	(1,453)	(155)	(4)	(1,572)	(3,152)
Adjustment of Redeemable Operating Partnership Units	692	(15,756)	(12,584)	(7,337)	(3,468)
Conversion of units into common shares	12,258	241	4,715	27
Measurement period adjustment of noncontrolling interests in consolidated affiliates		9,034	655	(701)
Acquisition of noncontrolling interests in consolidated affiliates					372,381
Disposition of noncontrolling interests in consolidated affiliates	(255,486)
Amortization of pension and postretirement plan liabilities	294	294	294	217	217	217	881	652
Foreign currency translation adjustment	(6,622)	1,239	(14,288)	12,476	23,258	(44,023)	(19,670)	(8,290)
Cash flow hedges	1,711	(10,019)	61,001	7,861	(7,276)	(83,475)
Distributions to noncontrolling interests in consolidated affiliates	(53,562)	(6,474)	(8,737)	(667)	(6,856)	(725)
Noncontrolling interests in consolidated affiliates redemption of unit equivalents	(28,119)			(28,403)
Ending balance	1,792,460	1,997,483	1,909,921	1,851,148	1,913,958	1,399,668	1,792,460	1,851,148
Rayonier Limited Partnership | Units | General Partners’ Capital
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	16,389	15,499	15,454	15,947	14,606	14,712	15,454	14,712
Issuance of units associated with the merger with Pope Resources					1,724
Net Income (Loss)	780	590	112	(8)	20	259
Distributions on units ($0.27 per unit)	(401)	(391)	(387)	(385)	(382)	(349)
Costs associated with the “At-the-Market” (ATM) program				(5)
Issuance of units under the “at-the-market” equity offering, net of commissions and offering costs of $197	511	800	367
Issuance of units under incentive stock plans	2	33	12	2	2	1
Stock-based compensation	21	29	22	20	27	15
Repurchase of units	0	(15)	(2)		(15)	(32)
Adjustment of Redeemable Operating Partnership Units	7	(158)	(126)	(73)	(35)
Conversion of units into common shares	123	2	47
Ending balance	17,432	16,389	15,499	15,498	15,947	14,606	17,432	15,498
Rayonier Limited Partnership | Units | Limited Partners’ Capital
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	1,622,548	1,534,411	1,529,948	1,578,766	1,446,042	1,456,471	1,529,948	1,456,471
Issuance of units associated with the merger with Pope Resources					170,694
Net Income (Loss)	77,261	58,369	11,077	(775)	1,934	25,595
Distributions on units ($0.27 per unit)	(39,695)	(38,744)	(38,300)	(38,072)	(37,775)	(34,464)
Costs associated with the “At-the-Market” (ATM) program				(451)
Issuance of units under the “at-the-market” equity offering, net of commissions and offering costs of $197	50,621	79,194	36,341
Issuance of units under incentive stock plans	181	3,292	1,154	165	220	65
Stock-based compensation	2,065	2,823	2,134	1,945	2,641	1,495
Repurchase of units	(6)	(1,438)	(153)	(4)	(1,557)	(3,120)
Adjustment of Redeemable Operating Partnership Units	685	(15,598)	(12,458)	(7,264)	(3,433)
Conversion of units into common shares	12,135	239	4,668	27
Ending balance	1,725,795	1,622,548	1,534,411	1,534,337	1,578,766	1,446,042	1,725,795	1,534,337
Rayonier Limited Partnership | Accumulated Other Comprehensive Loss
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	(29,589)	(21,075)	(71,345)	(137,472)	(147,255)	(31,202)	(71,345)	(31,202)
Amortization of pension and postretirement plan liabilities	294	294	294	217	217	217
Foreign currency translation adjustment	(5,743)	1,025	(11,652)	9,160	17,872	(33,894)
Cash flow hedges	2,204	(9,833)	61,628	7,479	(8,306)	(82,376)
Ending balance	(32,834)	(29,589)	(21,075)	(120,616)	(137,472)	(147,255)	(32,834)	(120,616)
Rayonier Limited Partnership | Noncontrolling Interests in Consolidated Affiliates
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	388,135	381,086	388,588	456,717	86,275	97,661	388,588	97,661
Net Income (Loss)	32,471	4,461	3,843	(8,715)	(1,499)	567
Measurement period adjustment of noncontrolling interests in consolidated affiliates		9,034	655	(701)
Acquisition of noncontrolling interests in consolidated affiliates					372,381
Disposition of noncontrolling interests in consolidated affiliates	(255,486)
Foreign currency translation adjustment	(879)	214	(2,636)	3,316	5,386	(10,129)
Cash flow hedges	(493)	(186)	(627)	382	1,030	(1,099)
Distributions to noncontrolling interests in consolidated affiliates	(53,562)	(6,474)	(8,737)	(667)	(6,856)	(725)
Noncontrolling interests in consolidated affiliates redemption of unit equivalents	(28,119)			(28,403)
Ending balance	$ 82,067	$ 388,135	$ 381,086	$ 421,929	$ 456,717	$ 86,275	$ 82,067	$ 421,929

CONSOLIDATED STATEMENTS OF CH_4

CONSOLIDATED STATEMENTS OF CHANGES IN CAPITAL (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Offering issuance costs	$ 691	$ 927	$ 197
Rayonier Limited Partnership
Distributions declared (in dollars per unit)	$ 0.27	$ 0.27	$ 0.27	$ 0.27	$ 0.27	$ 0.27
Offering issuance costs	$ 691	$ 927	$ 197

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
OPERATING ACTIVITIES
Net (loss) income		$ 188,963	$ 17,378
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization		121,234	119,479
Non-cash cost of land and improved development		22,818	20,701
Stock-based incentive compensation expense		7,094	6,143
Deferred income taxes		7,618	10,267
Amortization of losses from pension and postretirement plans		881	652
Timber write-offs due to casualty events		0	15,203
Other		12,161	(6,986)
Changes in operating assets and liabilities:
Receivables		3,192	(14,089)
Inventories		(1,081)	(2,310)
Accounts payable		3,350	6,553
All other operating activities		(4,306)	(6,352)
CASH PROVIDED BY OPERATING ACTIVITIES		277,444	137,984
INVESTING ACTIVITIES
Capital expenditures		(47,497)	(44,679)
Real estate development investments		(9,165)	(5,448)
Purchase of timberlands		(51,921)	(24,379)
Net cash consideration for merger with Pope Resources		0	(231,068)
Other		6,952	5,127
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES		69,334	(184,781)
FINANCING ACTIVITIES
Issuance of debt		446,378	320,000
Repayment of debt		(420,000)	(132,000)
Dividends paid on common stock		(114,261)	(109,136)
Distributions to noncontrolling interests in the Operating Partnership		(3,373)	(2,401)
Proceeds from the issuance of common shares under incentive stock plan		4,674	233
Proceeds from the issuance of common shares under the “at-the-market” (ATM) equity offering program, net of commissions and offering costs		166,549	(456)
Repurchase of common shares		(1,614)	(1,577)
Debt issuance costs		(4,829)	(2,483)
Repurchase of common shares made under repurchase program		0	(3,152)
Noncontrolling interests in consolidated affiliates redemption of shares		0	(5,113)
Distributions to noncontrolling interests in consolidated affiliates		(19,564)	(8,247)
Make-whole fee on NWFCS debt prepayment		(6,234)	0
CASH PROVIDED BY FINANCING ACTIVITIES		47,726	55,668
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(346)	(213)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash		394,158	8,658
Balance, beginning of year		87,482	69,968
Balance, end of period		481,640	78,626
Cash paid during the period:
Interest	[1]	24,680	25,546
Income taxes		7,306	621
Non-cash investing activity:
Capital assets purchased on account		4,726	3,250
Non-cash financing activity:
Equity consideration for merger with Pope Resources		0	172,640
Redeemable Operating Partnership Unit consideration for merger with Pope Resources		0	106,752
Large Disposition Of Timberlands
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sale		(44,800)	(28,655)
INVESTING ACTIVITIES
Net proceeds from disposition		54,698	115,666
Timber Funds III & IV
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sale		(3,729)	0
INVESTING ACTIVITIES
Net proceeds from disposition		31,068	0
Fund II Timberland Dispositions
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sale		(35,951)	0
INVESTING ACTIVITIES
Net proceeds from disposition		85,199	0
Rayonier Limited Partnership
OPERATING ACTIVITIES
Net (loss) income		188,963	17,378
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization		121,234	119,479
Non-cash cost of land and improved development		22,818	20,701
Stock-based incentive compensation expense		7,094	6,143
Deferred income taxes		7,618	10,267
Amortization of losses from pension and postretirement plans		881	652
Timber write-offs due to casualty events		0	15,203
Other		12,161	(6,986)
Changes in operating assets and liabilities:
Receivables		3,192	(14,089)
Inventories		(1,081)	(2,310)
Accounts payable		3,350	6,553
All other operating activities		(4,306)	(6,352)
CASH PROVIDED BY OPERATING ACTIVITIES		277,444	137,984
INVESTING ACTIVITIES
Capital expenditures		(47,497)	(44,679)
Real estate development investments		(9,165)	(5,448)
Purchase of timberlands		(51,921)	(24,379)
Net cash consideration for merger with Pope Resources		0	(231,068)
Other		6,952	5,127
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES		69,334	(184,781)
FINANCING ACTIVITIES
Issuance of debt		446,378	320,000
Repayment of debt		(420,000)	(132,000)
Distributions on units		(117,634)	(111,537)
Proceeds from the issuance of units under incentive stock plan		4,674	233
Proceeds from the issuance of common shares under the “at-the-market” (ATM) equity offering program, net of commissions and offering costs		166,549	(456)
Repurchase of units		(1,614)	(1,577)
Debt issuance costs		(4,829)	(2,483)
Repurchase of common shares made under repurchase program		0	(3,152)
Noncontrolling interests in consolidated affiliates redemption of shares		0	(5,113)
Distributions to noncontrolling interests in consolidated affiliates		(19,564)	(8,247)
Make-whole fee on NWFCS debt prepayment		(6,234)	0
CASH PROVIDED BY FINANCING ACTIVITIES		47,726	55,668
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(346)	(213)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Change in cash, cash equivalents and restricted cash		394,158	8,658
Balance, beginning of year		87,482	69,968
Balance, end of period		481,640	78,626
Cash paid during the period:
Interest	[2]	24,680	25,546
Income taxes		7,306	621
Non-cash investing activity:
Capital assets purchased on account		4,726	3,250
Non-cash financing activity:
Equity consideration for merger with Pope Resources		0	172,640
Redeemable Operating Partnership Unit consideration for merger with Pope Resources		0	106,752
Rayonier Limited Partnership | Large Disposition Of Timberlands
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sale		(44,800)	(28,655)
INVESTING ACTIVITIES
Net proceeds from disposition		54,698	115,666
Rayonier Limited Partnership | Timber Funds III & IV
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sale		(3,729)	0
INVESTING ACTIVITIES
Net proceeds from disposition		31,068	0
Rayonier Limited Partnership | Fund II Timberland Dispositions
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sale		(35,951)	0
INVESTING ACTIVITIES
Net proceeds from disposition		$ 85,199	$ 0
[1]	Interest paid is presented net of patronage paymen ts received of $6.8 million a n d $4.7 million for the nine months ended September 30, 2021 and September 30, 2020, respectively. For additional information on patronage payments, see Note 8 — Debt in the 2020 Form 10-K.
[2]	Interest paid is presented net of patronage paymen ts received of $6.8 million an d $4.7 million for the nine months ended September 30, 2021 and September 30, 2020, respectively. For additional information on patronage payments, see Note 8 — Debt in the 2020 Form 10-K.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Patronage refunds received, netted with interest paid	$ 6.8	$ 4.7
Rayonier Limited Partnership
Patronage refunds received, netted with interest paid	$ 6.8	$ 4.7

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The unaudited consolidated financial statements and notes thereto of Rayonier Inc. and its subsidiaries and Rayonier, L.P. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The Rayonier Inc. and Rayonier, L.P. year-end balance sheet information was derived from audited financial statements not included herein. In the opinion of management, these financial statements and notes reflect any adjustments (all of which are normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. These statements and notes should be read in conjunction with the financial statements and supplementary data included in our Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC (the “2020 Form 10-K”). On May 8, 2020, Rayonier, L.P. acquired Pope Resources and became the general partner of Pope Resources. As of September 30, 2021, the Company owned a 97.3% interest in the Operating Partnership, with the remaining 2.7% interest owned by limited partners of the Operating Partnership. As the sole general partner of the Operating Partnership, Rayonier Inc. has exclusive control of the day-to-day management of the Operating Partnership. Please see Note 2 - Merger with Pope Resources and Note 24 - Charges for Integration and Restructuring for further information pertaining to the merger. SUMMARY OF UPDATES TO SIGNIFICANT ACCOUNTING POLICIES For a full description of our other significant accounting policies, see Note 1 — Summary of Significant Accounting Policies in our 2020 Form 10-K. DISPOSITION OF TIMBER FUNDS Upon completion of the Pope Resources merger, we became the manager of three private equity timber funds, Fund II, Fund III, and Fund IV, consisting of 141,000 acres in the Pacific Northwest, and obtained ownership interests in the Funds of 20%, 5%, and 15%, respectively. On July 21, 2021, we sold the rights to manage Fund III and Fund IV, as well as our ownership interests in both funds to BTG Pactual’s Timberland Investment Group (TIG) for an aggregate purchase price of $35.9 million. On September 30, 2021, we sold approximately 13,000 acres of timberlands in Washington held by Fund II for $87.1 million. We classified the remaining portion of Fund II’s timber and timberland as assets held for sale in our Consolidated Balance Sheets as of September 30, 2021, as a process to liquidate Fund II had commenced. See Note 6 — Noncontrolling Interests , Note 23 — Assets Held for Sale and the subsequent events section of this note below for additional information. NEW ACCOUNTING STANDARDS In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, Reference Rate Reform (Topic 848) , which provides optional guidance to ease the potential burden in accounting due to reference rate reform. ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During Q2 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In August 2020, the FASB issued ASU 2020-06, Debt–Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging–Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. This ASU (1) simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options , that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revises the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification; and (3) revises the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (EPS) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. We are currently in the process of evaluating the effects of the provisions of ASU 2020-06 on our financial statements. SUBSEQUENT EVENTS On October 5, 2021, we sold approximately 5,000 acres of Fund II timberland assets in Oregon for an aggregate purchase price of approximately $37.2 million. This sale will not have a material effect on our consolidated financial statements.

MERGER WITH POPE RESOURCES

MERGER WITH POPE RESOURCES	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
MERGER WITH POPE RESOURCES	MERGER WITH POPE RESOURCES On May 8, 2020, Rayonier Inc. and Rayonier, L.P. acquired Pope Resources and became the general partner of Pope Resources. Pope Resources was a master limited partnership that primarily owned and managed timberlands in the U.S. Pacific Northwest. Pope Resources also managed and co-invested in three private equity timber funds and developed and sold real estate properties. For additional information about the merger, see Note 2 - Merger with Pope Resources in the 2020 Form 10-K. The total purchase price was as follows: Cash consideration $247,318 Equity consideration 172,640 Redeemable Operating Partnership Unit consideration 106,752 Fair value of Pope Resources units held by us (a) 11,211 Total purchase price $537,921 (a) Based on the closing price of Pope Resources units on the NASDAQ on May 7, 2020. We recognized approximately $2.5 million, $13.5 million, and $0.4 million of merger-related costs that were expensed during the first, second and third quarters of 2020, respectively. See Note 24 — Charges for Integration and Restructuring for descriptions of the components of merger-related costs. The acquisition of Pope Resources was accounted for as a business combination under ASC 805, Business Combinations , (“ASC 805”). Pursuant to ASC 805, we recorded an allocation of the assets acquired and liabilities assumed in the merger with Pope Resources based on their fair values as of May 8, 2020. We completed our assessment of the fair value of the assets acquired and liabilities assumed within the one-year period from the date of acquisition. We recorded measurement period adjustments due to additional information received primarily related to higher and better use timberlands and real estate development investments, as well as timber and timberlands. As a result of refinements to the purchase price allocation, higher and better use timberlands increased by approximately $8.2 million. This includes development properties in the town of Port Gamble, Washington, development projects in Gig Harbor, Kingston, and Bremerton, Washington and various other assets. Additionally, refinements to the purchase price allocation resulted in an overall increase of $1.1 million to timber and timberlands, with the valuation of core timberlands decreasing by $15.5 million and Timber Funds timber and timberlands increasing by $16.6 million from the preliminary purchase price allocation reported in Note 2 - Merger with Pope Resources in the 2020 Form 10-K. As a result of refinements to timberlands preliminarily recorded values, we recognized the following decreases in depletion expense during the nine months ended September 30, 2021: Nine months ended September 30, 2021 Pacific Northwest Timber Timber Funds Total Depletion ($182) ($1,202) ($1,384) Total ($182) ($1,202) ($1,384) The fair values of the assets acquired and liabilities assumed were determined using the income, cost or market approaches. The fair value measurements were generally based on significant inputs that are not observable in the market and thus represent Level 3 measurements as defined in ASC 820, Fair Value Measurement , (“ASC 820”) with the exception of certain long-term debt instruments assumed in the merger that can be valued using observable market inputs and are therefore Level 2 measurements. See Note 11 — Fair Value Measurements for further information on the fair value hierarchy. The final allocation of purchase price to the identifiable assets acquired and liabilities assumed is as follows: Core Timberlands Timber Funds Total Timberland and Real Estate Business Cash $7,380 $8,870 $16,250 Accounts receivable 2,459 1,787 4,246 Other current assets 703 260 963 Timber and Timberlands 498,630 449,073 947,703 Higher and Better Use Timberlands and Real Estate Development Investments 34,748 — 34,748 Property, plant and equipment 11,616 — 11,616 Other assets (a) 3,737 2,194 5,931 Total identifiable assets acquired $559,273 $462,184 $1,021,457 Accounts payable 274 293 567 Current maturities of long-term debt — 25,084 25,084 Accrued interest 244 275 519 Other current liabilities 9,038 2,080 11,118 Long-term debt 53,502 35,759 89,261 Long-term environmental liabilities 10,748 — 10,748 Other non-current liabilities (b) 2,724 461 3,185 Total liabilities assumed $76,530 $63,952 $140,482 Net identifiable assets $482,743 $398,232 $880,975 Less: noncontrolling interests (3,816) (339,238) (343,054) Total net assets acquired $478,927 $58,994 $537,921 (a) Other assets includes a $1.9 million intangible asset in connection with the Timberland Investment Management business. (b) Other non-current liabilities includes a $3.2 million deferred income tax liability resulting from the fair value adjustment to Pope Resources’ assets and liabilities. Pursuant to ASC 805, unaudited supplemental pro forma results of operations for the three and nine months ended September 30, 2020, assuming the acquisition had occurred as of January 1, 2020, are presented below (in thousands, except per share and unit amounts): Three Months Ended Nine Months Ended September 30, 2020 Sales $198,975 $684,900 Net income attributable to Rayonier Inc. ($1,110) $25,800 Basic earnings per share attributable to Rayonier Inc. ($0.01) $0.19 Diluted earnings per share attributable to Rayonier Inc. ($0.01) $0.19 Net income attributable to Rayonier, L.P. ($1,147) $26,648 Basic earnings per unit attributable to Rayonier, L.P. ($0.01) $0.19 Diluted earnings per unit attributable to Rayonier, L.P. ($0.01) $0.19 The unaudited pro forma results include certain pro forma adjustments to net earnings that were directly attributable to the acquisition, assuming the acquisition had occurred on January 1, 2020, including the following: • additional depletion expense that would have been recognized relating to the basis increase in the acquired Timber and Timberlands; • adjustment to interest expense to reflect the removal of Pope Resources debt and the additional borrowings we incurred in conjunction with the acquisition; and • a reduction in expenses for the three and nine months ended September 30, 2020 of $0.4 million and $31.6 million for acquisition-related transaction costs. Pro forma data may not be indicative of the results that would have been obtained had these events occurred at the beginning of the periods presented, nor is it intended to be a projection of future results.

SEGMENT AND GEOGRAPHICAL INFORM

SEGMENT AND GEOGRAPHICAL INFORMATION	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHICAL INFORMATION	SEGMENT AND GEOGRAPHICAL INFORMATION Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. We evaluate financial performance based on segment operating income (loss) and Adjusted Earnings before Interest, Taxes, Depreciation, Depletion and Amortization (“Adjusted EBITDA”). Asset information is not reported by segment, as we do not produce asset information by segment internally. Operating income as presented in the Consolidated Statements of Income and Comprehensive Income is equal to segment income. Certain income (loss) items in the Consolidated Statements of Income and Comprehensive Income are not allocated to segments. These items, which include interest income (expense), miscellaneous income (expense) and income tax expense, are not considered by management to be part of segment operations and are included under “unallocated interest expense and other.” The following tables summarize the segment information for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, SALES 2021 2020 2021 2020 Southern Timber $44,818 $47,653 $145,789 $147,402 Pacific Northwest Timber 31,513 28,885 108,357 86,131 New Zealand Timber 75,558 62,804 213,696 142,112 Timber Funds (a) 94,469 9,907 128,054 17,431 Real Estate (b) 93,375 28,791 178,409 197,364 Trading 25,583 22,201 76,795 65,505 Intersegment Eliminations (c) (590) (1,366) (3,496) (2,310) Total $364,726 $198,875 $847,604 $653,635 (a) The three and nine months ended September 30, 2021 include $75.4 million and $102.1 million, respectively, of sales attributable to noncontrolling interests in Timber Funds. Included in sales attributable to noncontrolling interests in Timber Funds for the three and nine months ended September 30, 2021 is $69.7 million from Fund II Timberland Dispositions attributable to noncontrolling interests in Timber Funds. The three and nine months ended September 30, 2021 also include $17.4 million from Fund II Timberland Dispositions attributable to Rayonier. The three and nine months ended September 30, 2020 include $7.7 million and $13.5 million of sales attributable to noncontrolling interests in Timber Funds. (b) The three and nine months ended September 30, 2021 include $20.0 million and $56.0 million, respectively, from Large Dispositions. The nine months ended September 30, 2020 includes $116.0 million from a Large Disposition. Large Dispositions are defined as transactions involving the sale of timberland that exceed $20 million in size and do not have a demonstrable premium relative to timberland value. (c) Primarily consists of the elimination of timberland investment management fees paid to us by the timber funds which are initially recognized as sales and cost of sales within the Timber Funds segment, as well as log marketing fees paid to our Trading segment from our Southern Timber and Pacific Northwest Timber segments for marketing log export sales. Three Months Ended September 30, Nine Months Ended September 30, OPERATING INCOME (LOSS) 2021 2020 2021 2020 Southern Timber (a) $12,778 $5,090 $47,105 $31,368 Pacific Northwest Timber 2,071 (1,825) 5,293 (9,453) New Zealand Timber 13,302 10,720 47,959 21,142 Timber Funds (b) 41,285 (12,370) 44,778 (14,262) Real Estate (c) 60,617 9,459 112,816 61,081 Trading (33) (557) 628 (474) Corporate and Other (d) (6,706) (8,737) (22,337) (37,383) Total Operating Income 123,314 1,780 236,242 52,019 Unallocated interest expense and other (9,991) (10,558) (34,165) (27,225) Total Income before Income Taxes $113,323 ($8,778) $202,077 $24,794 (a) The three and nine months ended September 30, 2020 includes $6.0 million of timber write-offs resulting from casualty events. Timber write-offs resulting from casualty events are recorded within the Consolidated Statements of Income and Comprehensive Income under the caption “Cost of sales”. (b) The three and nine months ended September 30, 2021 include $30.5 million and $33.3 million, respectively, of operating income attributable to noncontrolling interests in Timber Funds. Included in operating income attributable to noncontrolling interests in Timber Funds for the three and nine months ended September 30, 2021 is a $28.8 million gain on Fund II Timberland Dispositions attributable to noncontrolling interests in Timber Funds. The three and nine months ended September 30, 2021 also include a $7.2 million gain on Fund II Timberland Dispositions attributable to Rayonier and a $3.7 million gain on investment in Timber Funds. The three and nine months ended September 30, 2020 include $10.3 million and $12.3 million, respectively, of operating loss attributable to noncontrolling interests in Timber Funds. Included in operating loss attributable to noncontrolling interests in Timber Funds for the three and nine months ended September 30, 2020 is $7.3 million related to timber write-offs resulting from casualty events attributable to noncontrolling interests in Timber Funds. The three and nine months ended September 30, 2020 also include $1.8 million of timber write-offs resulting from casualty events attributable to Rayonier. Timber write-offs resulting from casualty events are recorded within the Consolidated Statements of Income and Comprehensive Income under the caption “Cost of sales”. (c) The three and nine months ended September 30, 2021 include $14.5 million and $44.8 million from Large Dispositions. The nine months ended September 30, 2020 includes $28.7 million from a Large Disposition. (d) The three and nine months ended September 30, 2020 include $0.4 million and $16.4 million, respectively, of integration and restructuring costs related to the merger with Pope Resources. See Note 24 — Charges for Integration and Restructuring for additional details. Three Months Ended September 30, Nine Months Ended September 30, DEPRECIATION, DEPLETION AND AMORTIZATION 2021 2020 2021 2020 Southern Timber $11,604 $14,954 $39,539 $48,368 Pacific Northwest Timber 10,479 10,912 38,795 32,221 New Zealand Timber 6,555 7,345 20,757 17,062 Timber Funds (a) 43,158 4,170 54,780 8,239 Real Estate (b) 6,797 5,527 16,889 47,950 Corporate and Other 316 375 892 1,011 Total $78,909 $43,283 $171,652 $154,851 (a) The three and nine months ended September 30, 2021 include $34.4 million and $44.4 million, respectively, of depreciation, depletion and amortization attributable to noncontrolling interests in Timber Funds. Included in depreciation, depletion, and amortization attributable to noncontrolling interests in Timber Funds for the three and nine months ended September 30, 2021 is $32.5 million related to Fund II Timberland Dispositions attributable to noncontrolling interests in Timber Funds. The three and nine months ended September 30, 2021 also include $8.1 million related to Fund II Timberland Dispositions attributable to Rayonier. The three and nine months ended September 30, 2020 include $3.7 million and $7.2 million, respectively, of depreciation, depletion and amortization attributable to noncontrolling interests in Timber Funds. (b) The three and nine months ended September 30, 2021 includes $5.0 million and $9.8 million, respectively, from Large Dispositions. The nine months ended September 30, 2020 includes $35.4 million from a Large Disposition. Three Months Ended September 30, Nine Months Ended September 30, NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT 2021 2020 2021 2020 Timber Funds (a) $8,635 — $8,635 — Real Estate (b) 15,845 7,259 22,913 72,340 Total $24,480 $7,259 $31,548 $72,340 (a) The three and nine months ended September 30, 2021 includes $8.6 million of non-cash cost of land and improved development from Fund II Timberland Dispositions, of which $6.9 million was attributable to noncontrolling interests in Timber Funds and $1.7 million was attributable to Rayonier.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE PERFORMANCE OBLIGATIONS We recognize revenue when control of promised goods or services (“performance obligations”) is transferred to customers, in an amount that reflects the consideration expected in exchange for those goods or services (“transaction price”). We generally satisfy performance obligations within a year of entering into a contract and therefore have applied the disclosure exemption found under ASC 606-10-50-14. Unsatisfied performance obligations as of September 30, 2021 are primarily due to advances on stumpage contracts, unearned license revenue and post-closing obligations on real estate sales. These performance obligations are expected to be satisfied within the next twelve months. We generally collect payment within a year of satisfying performance obligations and therefore have elected not to adjust revenues for a financing component. CONTRACT BALANCES The timing of revenue recognition, invoicing and cash collections results in accounts receivable and deferred revenue (contract liabilities) on the Consolidated Balance Sheets. Accounts receivable are recorded when we have an unconditional right to consideration for completed performance under the contract. Contract liabilities relate to payments received in advance of performance under the contract. Contract liabilities are recognized as revenue as (or when) we perform under the contract. The following table summarizes revenue recognized during the three and nine months ended September 30, 2021 and 2020 that was included in the contract liability balance at the beginning of each year: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue recognized from contract liability balance at the beginning of the year (a) $235 $690 $10,204 $10,296 (a) Revenue recognized was primarily from hunting licenses and the use of advances on pay-as-cut timber sales. The following tables present our revenue from contracts with customers disaggregated by product type for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total September 30, 2021 Pulpwood $21,358 $2,116 $10,746 $127 — $3,861 — $38,208 Sawtimber 17,680 28,134 64,562 6,707 — 21,281 — 138,364 Hardwood 247 — — — — — — 247 Total Timber Sales 39,285 30,250 75,308 6,834 — 25,142 — 176,819 License Revenue, Primarily from Hunting 4,588 298 161 11 — — — 5,058 Other Non-Timber/Carbon Revenue 945 965 89 25 — — — 2,024 Agency Fee Income — — — — — 350 — 350 Fund II Timberland Dispositions — — — 87,100 — — — 87,100 Total Non-Timber Sales 5,533 1,263 250 87,136 — 350 — 94,532 Improved Development — — — — 27,774 — — 27,774 Unimproved Development — — — — 37,500 — — 37,500 Rural — — — — 6,937 — — 6,937 Timberland & Non-Strategic — — — — 44 — — 44 Deferred Revenue/Other (a) — — — — 728 — — 728 Large Dispositions — — — — 20,048 — — 20,048 Total Real Estate Sales — — — — 93,031 — — 93,031 Revenue from Contracts with Customers 44,818 31,513 75,558 93,970 93,031 25,492 — 364,382 Lease Revenue — — — — 344 — — 344 Intersegment — — — 499 — 91 (590) — Total Revenue $44,818 $31,513 $75,558 $94,469 $93,375 $25,583 ($590) $364,726 Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total September 30, 2020 Pulpwood $22,061 $1,963 $7,943 $227 — $2,534 — $34,728 Sawtimber 19,356 25,513 51,400 8,397 — 19,575 — 124,241 Hardwood 760 — — — — — — 760 Total Timber Sales 42,177 27,476 59,343 8,624 — 22,109 — 159,729 License Revenue, Primarily from Hunting 4,461 252 60 (6) — — — 4,767 Other Non-Timber/Carbon Revenue 1,015 1,157 3,401 15 — — — 5,588 Total Non-Timber Sales 5,476 1,409 3,461 9 — — — 10,355 Improved Development — — — — 1,344 — — 1,344 Unimproved Development — — — — — — — — Rural — — — — 23,245 — — 23,245 Timberland & Non-Strategic — — — — 42 — — 42 Conservation Easement — — — — 3,099 — — 3,099 Deferred Revenue/Other (a) — — — — 737 — — 737 Total Real Estate Sales — — — — 28,467 — — 28,467 Revenue from Contracts with Customers 47,653 28,885 62,804 8,633 28,467 22,109 — 198,551 Lease Revenue — — — — 324 — — 324 Intersegment — — — 1,274 — 92 (1,366) — Total Revenue $47,653 $28,885 $62,804 $9,907 $28,791 $22,201 ($1,366) $198,875 (a) Includes deferred revenue adjustments, revenue true-ups and marketing fees related to Improved Development sales. Nine Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total September 30, 2021 Pulpwood $66,941 $6,689 $32,555 $783 — $9,372 — $116,340 Sawtimber 58,335 97,647 180,339 36,433 — 66,146 — 438,900 Hardwood 1,920 — — — — — — 1,920 Total Timber Sales 127,196 104,336 212,894 37,216 — 75,518 — 557,160 License Revenue, Primarily From Hunting 13,501 505 300 41 — — — 14,347 Other Non-Timber/Carbon Revenue 5,092 3,516 502 438 — — — 9,548 Agency Fee Income — — — — — 1,040 — 1,040 Fund II Timberland Dispositions — — — 87,100 — — — 87,100 Total Non-Timber Sales 18,593 4,021 802 87,579 — 1,040 — 112,035 Improved Development — — — — 47,366 — — 47,366 Unimproved Development — — — — 37,500 — — 37,500 Rural — — — — 36,999 — — 36,999 Timberland & Non-Strategic — — — — 44 — — 44 Conservation Easement — — — — 3,855 — — 3,855 Deferred Revenue/Other (a) — — — — (4,260) — — (4,260) Large Dispositions — — — — 56,048 — — 56,048 Total Real Estate Sales — — — — 177,552 — — 177,552 Revenue from Contracts with Customers 145,789 108,357 213,696 124,795 177,552 76,558 — 846,747 Lease Revenue — — — — 857 — — 857 Intersegment — — — 3,259 — 237 (3,496) — Total Revenue $145,789 $108,357 $213,696 $128,054 $178,409 $76,795 ($3,496) $847,604 Nine Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total September 30, 2020 Pulpwood $74,239 $8,253 $18,545 $555 — $7,527 — $109,119 Sawtimber 55,224 75,255 117,157 14,701 — 57,493 — 319,830 Hardwood 1,752 — — — — — — 1,752 Total Timber Sales 131,215 83,508 135,702 15,256 — 65,020 — 430,701 License Revenue, Primarily from Hunting 13,386 444 200 4 — — — 14,034 Other Non-Timber/Carbon Revenue 2,801 2,179 6,210 19 — — — 11,209 Agency Fee Income — — — — — 327 — 327 Total Non-Timber Sales 16,187 2,623 6,410 23 — 327 — 25,570 Improved Development — — — — 7,771 — — 7,771 Unimproved Development — — — — 8,426 — — 8,426 Rural — — — — 52,876 — — 52,876 Timberland & Non-Strategic — — — — 9,647 — — 9,647 Conservation Easement — — — — 3,099 — — 3,099 Deferred Revenue/Other (a) — — — — (879) — — (879) Large Dispositions — — — — 116,027 — — 116,027 Total Real Estate Sales — — — — 196,967 — — 196,967 Revenue from Contracts with Customers 147,402 86,131 142,112 15,279 196,967 65,347 — 653,238 Lease Revenue — — — — 397 — — 397 Intersegment — — — 2,152 — 158 (2,310) — Total Revenue $147,402 $86,131 $142,112 $17,431 $197,364 $65,505 ($2,310) $653,635 (a) Includes deferred revenue adjustments, revenue true-ups and marketing fees related to Improved Development sales. The following tables present our timber sales disaggregated by contract type for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Trading Total September 30, 2021 Stumpage Pay-as-Cut $12,335 — — $131 — $12,466 Stumpage Lump Sum 392 1,846 — — — 2,238 Total Stumpage 12,727 1,846 — 131 — 14,704 Delivered Wood (Domestic) 19,515 28,404 20,614 6,703 817 76,053 Delivered Wood (Export) 7,043 — 54,694 — 24,325 86,062 Total Delivered 26,558 28,404 75,308 6,703 25,142 162,115 Total Timber Sales $39,285 $30,250 $75,308 $6,834 $25,142 $176,819 September 30, 2020 Stumpage Pay-as-Cut $14,518 — — $754 — $15,272 Stumpage Lump Sum 310 472 — — — 782 Total Stumpage 14,828 472 — 754 — 16,054 Delivered Wood (Domestic) 21,976 27,004 20,127 7,870 362 77,339 Delivered Wood (Export) 5,373 — 39,216 — 21,747 66,336 Total Delivered 27,349 27,004 59,343 7,870 22,109 143,675 Total Timber Sales $42,177 $27,476 $59,343 $8,624 $22,109 $159,729 Nine Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Trading Total September 30, 2021 Stumpage Pay-as-Cut $48,775 — — $328 — $49,103 Stumpage Lump Sum 5,040 8,909 — — — 13,949 Total Stumpage 53,815 8,909 — 328 — 63,052 Delivered Wood (Domestic) 57,528 95,427 56,970 36,888 3,144 249,957 Delivered Wood (Export) 15,853 — 155,924 — 72,374 244,151 Total Delivered 73,381 95,427 212,894 36,888 75,518 494,108 Total Timber Sales $127,196 $104,336 $212,894 $37,216 $75,518 $557,160 September 30, 2020 Stumpage Pay-as-Cut $56,141 — — $1,285 — $57,426 Stumpage Lump Sum 1,561 5,929 — — — 7,490 Total Stumpage 57,702 5,929 — 1,285 — 64,916 Delivered Wood (Domestic) 64,473 77,579 45,944 13,971 1,296 203,263 Delivered Wood (Export) 9,040 — 89,758 — 63,724 162,522 Total Delivered 73,513 77,579 135,702 13,971 65,020 365,785 Total Timber Sales $131,215 $83,508 $135,702 $15,256 $65,020 $430,701

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
LEASES	LEASES We lease commercial and residential properties primarily located in Port Gamble, Washington. Our leases are operating leases and primarily range between one The following table details our lease income for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, Lease Income Components 2021 2020 2021 2020 Operating lease income $344 $324 $857 $397 Total lease income $344 $324 $857 $397

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
NONCONTROLLING INTERESTS	NONCONTROLLING INTERESTS NONCONTROLLING INTERESTS IN CONSOLIDATED AFFILIATES Matariki Forestry Group We maintain a 77% controlling financial interest in Matariki Forestry Group (the “New Zealand subsidiary”), a joint venture that owns or leases approximately 418,000 legal acres of New Zealand timberland. Accordingly, we consolidate the New Zealand subsidiary’s balance sheet and results of operations. Income attributable to the New Zealand subsidiary’s 23% noncontrolling interests is reflected as an adjustment to income in our Consolidated Statements of Income and Comprehensive Income under the caption “Net income attributable to noncontrolling interests in consolidated affiliates.” Rayonier New Zealand Limited (“RNZ”), a wholly-owned subsidiary, serves as the manager of the New Zealand subsidiary. The following table sets forth the income attributable to the New Zealand subsidiary’s noncontrolling interests: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Net income attributable to noncontrolling interests in the New Zealand subsidiary $2,006 $2,066 $7,716 $3,326 ORM Timber Fund II, Inc. (Fund II), ORM Timber Fund III LLC (Fund III), and ORM Timber Fund IV LLC. (Fund IV) (Collectively, the “Funds”) Upon completion of the Pope Resources merger, we became the manager of three private equity timber funds, Fund II, Fund III, and Fund IV, consisting of 141,000 acres in the Pacific Northwest, and obtained ownership interests in the Funds of 20%, 5%, and 15%, respectively. Prior to the merger with Pope Resources, the Funds were formed by ORM LLC for the purpose of generating a return on investment through the acquisition, management, value enhancement and sale of timberland properties. Based upon an analysis under the variable interest entity guidance, we determined that we had the power to direct the activities that most significantly impacted the Funds’ economic success. Therefore, we were considered the primary beneficiary and were required under ASC 810 — Consolidation to consolidate the Funds. Income attributed to third-party investors is reflected as an adjustment to income in our Consolidated Statements of Income and Comprehensive Income under the caption “Net income attributable to noncontrolling interests in consolidated affiliates.” On July 21, 2021, we sold the rights to manage Fund III and Fund IV, as well as our ownership interests in both funds to BTG Pactual’s Timberland Investment Group (TIG) for an aggregate purchase price of $35.9 million and recognized in our Consolidated Statements of Income and Comprehensive Income a gain on the sale of $3.7 million under the caption of other operating income (expense), net. Due to the sale of our rights to manage Fund III and Fund IV, we determined that we no longer have the power to direct the activities that most significantly impact the success of Fund III and Fund IV. As a result, Timber Fund III and IV balance sheets and results of operations are only included in our consolidated financial statements through the date of the sale. As of September 30, 2021, we continue to manage and maintain a 20% ownership interest in Fund II, which is scheduled to terminate in March 2023. We continue to have the power to direct the activities that most significantly impact Fund II’s economic success. Therefore, we are considered the primary beneficiary and consolidate Fund II under ASC 810 — Consolidation . The obligations of Fund II do not have any recourse to the Company or the Operating Partnership and the assets of Fund II are not available to satisfy the Company or the Operating Partnership’s liabilities. On September 30, 2021, we sold approximately 13,000 acres of Fund II timberland assets in Washington for an aggregate purchase price of $87.1 million and recognized a gain of $36.0 million, of which $7.2 million was attributable to Rayonier. Due to Timber Fund II distribution requirements, we classified the portion of proceeds from Fund II Timberland Dispositions attributable to noncontrolling interests as a current asset under the caption “Restricted Cash, Timber Funds” on our Consolidated Balance Sheets. Additionally, we recognized a current liability under the caption “Distribution payable, Timber Funds” and a corresponding decrease in “Noncontrolling Interests in Consolidated Affiliates” on our Consolidated Balance Sheets. We classified the remaining portion of Fund II’s timber and timberland as “Assets Held for Sale in our Consolidated Balance Sheets as of September 30, 2021, as a process to liquidate Fund II had commenced. See Note 1 — Basis of Presentation , Note 2 2 — Restricted Cash and Note 23 — Assets Held for Sale for additional information. Following the end of the third quarter, we completed the liquidation of Fund II assets through two additional timberland dispositions. See Note 1 - Basis of Presentation for additional information on the subsequent events. The following table sets forth the income attributable to the Funds’ noncontrolling interests: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Net income (loss) attributable to noncontrolling interests in the Funds $30,465 ($10,627) $32,929 ($12,773) Ferncliff Investors We maintain an ownership interest in Ferncliff Investors, a real estate joint venture entity. In 2017, Ferncliff Management and Ferncliff Investors were formed for the purpose of raising capital from third parties to invest in an unconsolidated real estate joint venture entity, Bainbridge Landing LLC, which is developing a five-acre parcel on Bainbridge Island, Washington into a multi-family community containing apartments and townhomes. Ferncliff Management is the manager and 33.33% owner of Ferncliff Investors, with the remaining ownership interest in Ferncliff Investors held by third-party investors. Ferncliff Investors holds a 50% interest in Bainbridge Landing LLC, the joint venture entity that owns and is developing the property. Based upon an analysis under the variable interest entity guidance, we have the power to direct the activities that most significantly impact the Ferncliff Investor’s economic success. Therefore, we are considered the primary beneficiary and are required under ASC 810 — Consolidation to consolidate Ferncliff Investors. The obligations of Ferncliff Investors do not have any recourse to the Company or the Operating Partnership. Bainbridge Landing LLC is considered a voting interests entity. Ferncliff Investors accounts for its interest in the joint venture entity under the equity method because neither it nor the other member can exercise control over Bainbridge Landing LLC. The Ferncliff Investors joint venture agreement provides for liquidation rights and distribution priorities that are disproportionate to each member’s ownership interest. Due to the complex nature of cash distributions to members, net income of the joint venture is allocated to members, including us, using the Hypothetical Liquidation at Book Value (HLBV) method. Under the HLBV method, Ferncliff Investors income or loss is allocated to the members based on the period change in each member’s claim on the book value of net assets, excluding capital contributions and distributions made during the period. The following table sets forth the income attributable to Ferncliff Investors’ noncontrolling interests: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Net (loss) income attributable to noncontrolling interests in Ferncliff Investors — ($153) $129 ($199) NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP Noncontrolling interests in the Operating Partnership relate to the third-party ownership of Redeemable Operating Partnership Units. Net income attributable to the noncontrolling interests in the Operating Partnership is computed by applying the weighted average Redeemable Operating Partnership Units outstanding during the period as a percentage of the weighted average total units outstanding to the Operating Partnership’s net income for the period. If a noncontrolling unitholder redeems a unit for a registered common share of Rayonier or cash, the noncontrolling interests in the Operating Partnership will be reduced and the Company’s share in the Operating Partnership will be increased by the fair value of each security at the time of redemption. The following table sets forth the Company’s noncontrolling interests in the Operating Partnership: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Beginning noncontrolling interests in the Operating Partnership $153,505 $110,220 $130,121 — Issuances of Redeemable Operating Partnership Units — — — 106,752 Adjustment of noncontrolling interests in the Operating Partnership (1,746) 8,030 25,531 12,022 Conversions of Redeemable Operating Partnership Units to Common Shares (12,258) (27) (17,214) (27) Net Income (Loss) attributable to noncontrolling interests in the Operating Partnership 2,210 (25) 4,303 195 Other Comprehensive (Loss) Income attributable to noncontrolling interests in the Operating Partnership (92) 532 1,187 989 Distributions to noncontrolling interests in the Operating Partnership (1,064) (1,200) (3,373) (2,401) Total noncontrolling interests in the Operating Partnership $140,555 $117,530 $140,555 $117,530

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES ORM Timber Fund II, Inc. (Fund II), ORM Timber Fund III LLC (Fund III), and ORM Timber Fund IV LLC. (Fund IV) (Collectively, the “Funds”) As mentioned in Note 1 - Basis of Presentation and Note 6 — Noncontrolling Interests , we sold the rights to manage Fund III and Fund IV, as well as our ownership interests in both funds in July 2021. As a result, Timber Fund III and IV balance sheets and results of operations are only included in our consolidated financial statements through the date of the sale. As of September 30, 2021, we continue to maintain a 20% ownership interest in Fund II. Based on an analysis of the variable interest entity guidance, we have the power to direct the activities that most significantly impact Fund II’s economic success. Therefore, we are considered the primary beneficiary and are required under ASC 810 — Consolidation to consolidate Fund II. For further information on the Funds, see Note 6 — Noncontrolling Interests . The assets, liabilities and equity of Fund II as of September 30, 2021, were as follows: Timber Funds September 30, 2021 Assets: Cash and cash equivalents $12,202 Restricted Cash, Timber Funds ( Note 22 ) 49,209 Accounts receivable 513 Assets held for sale ( Note 23 ) (a) 54,926 Other current assets 79 Total current assets 116,929 Other assets 23 Total assets $116,952 Liabilities and Equity: Accounts payable $547 Intercompany payable (b) 160 Accrued taxes 71 Deferred revenue 164 Distribution payable, Timber Funds (c) 49,209 Other current liabilities 36 Total current liabilities 50,187 Funds’ equity 66,765 Total liabilities and equity $116,952 (a) Included in assets held for sale are timber and timberland assets. (b) Includes management fees and other expenses payable to the Operating Partnership. These amounts are eliminated in the Consolidated Balance Sheets. (c) Represents the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. Ferncliff Investors We maintain an ownership interest in Ferncliff Investors, a real estate joint venture entity. Based upon an analysis under the variable interest entity guidance, we have the power to direct the activities that most significantly impact the joint venture’s economic success. Therefore, we are considered the primary beneficiary and are required under ASC 810 — Consolidation to consolidate Ferncliff Investors. For further information on Ferncliff Investors, see Note 6 — Noncontrolling Interests . The assets, liabilities and equity of Ferncliff Investors as of September 30, 2021, were as follows: Ferncliff Investors September 30, 2021 Assets: Cash and cash equivalents $391 Total current assets 391 Advances to real estate joint venture entity 1,000 Total assets $1,391 Liabilities and Equity: Total liabilities $1,897 Ferncliff Investors’ equity (506) Total liabilities and equity $1,391

EARNINGS (LOSS) PER SHARE AND P

EARNINGS (LOSS) PER SHARE AND PER UNIT	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE AND PER UNIT	EARNINGS (LOSS) PER SHARE AND PER UNIT The following table provides details of the calculations of basic and diluted earnings (loss) per common share of the Company: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Earnings (Loss) per common share - basic Numerator: Net Income (Loss) $110,512 ($9,498) $188,963 $17,378 Less: Net (income) loss attributable to noncontrolling interests in the Operating Partnership (2,210) 25 (4,303) (195) Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647 Net income (loss) attributable to Rayonier Inc. $75,831 ($758) $143,885 $26,830 Denominator: Denominator for basic earnings (loss) per common share - weighted average shares 141,777,574 136,351,271 139,749,358 132,948,124 Basic earnings (loss) per common share attributable to Rayonier Inc.: $0.53 ($0.01) $1.03 $0.20 Earnings (Loss) per common share - diluted Numerator: Net Income (loss) $110,512 ($9,498) $188,963 $17,378 Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647 Less: Net loss attributable to noncontrolling interests in the Operating Partnership — (a) 25 (a) — — Net income (loss) attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership $78,041 ($758) $148,188 $27,025 Denominator: Denominator for basic earnings (loss) per common share - weighted average shares 141,777,574 136,351,271 139,749,358 132,948,124 Add: Dilutive effect of: Stock options 9,803 — 8,833 492 Performance shares, restricted shares and restricted stock units 520,737 — 361,596 159,018 Noncontrolling interests in Redeemable Operating Partnership Units 4,131,454 — (a) 4,245,323 2,352,822 Denominator for diluted earnings per common share - adjusted weighted average shares 146,439,568 136,351,271 144,365,110 135,460,456 Diluted earnings (loss) per common share attributable to Rayonier Inc.: $0.53 ($0.01) $1.03 $0.20 (a) For the three months ended September 30, 2020, net loss attributable to noncontrolling interests in the Operating Partnership was included in the numerator for diluted earnings (loss) per share as the Company generated a net loss attributable to Rayonier Inc. during the quarter. Also, as a result of the net loss attributable to Rayonier Inc. during the three months ended September 30, 2020, the incremental shares related to noncontrolling interests in Redeemable Operating Partnership Units were excluded from the denominator of diluted loss per share. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive shares excluded from the computations of diluted earnings (loss) per common share: Stock options, performance shares, restricted shares, restricted stock units and noncontrolling interests in Redeemable Operating Partnership Units (a) 100,135 5,038,514 167,668 471,999 Total 100,135 5,038,514 167,668 471,999 (a) For the three months ended September 30, 2020, the incremental shares related to stock options, performance shares, restricted shares, restricted stock units and noncontrolling interests in Redeemable Operating Partnership Units were not included in the computation of diluted loss per share as their inclusion would have had an anti-dilutive effect. The following table provides details of the calculations of basic and diluted earnings (loss) per unit of the Operating Partnership: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Earnings (loss) per unit - basic Numerator: Net Income (Loss) $110,512 ($9,498) $188,963 $17,378 Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647 Net income (loss) available to unitholders $78,041 ($783) $148,188 $27,025 Denominator: Denominator for basic earnings (loss) per unit - weighted average units 145,909,028 140,797,217 143,994,681 135,300,946 Basic earnings (loss) per unit attributable to Rayonier, L.P.: $0.53 ($0.01) $1.03 $0.20 Earnings (Loss) per unit - diluted Numerator: Net Income (Loss) $110,512 ($9,498) $188,963 $17,378 Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647 Net income (loss) available to unitholders $78,041 ($783) $148,188 $27,025 Denominator: Denominator for basic earnings (loss) per unit - weighted average units 145,909,028 140,797,217 143,994,681 135,300,946 Add: Dilutive effect of unit equivalents: Stock options 9,803 — 8,833 492 Performance shares, restricted shares and restricted stock units 520,737 — 361,596 159,018 Denominator for diluted earnings (loss) per unit - adjusted weighted average units 146,439,568 140,797,217 144,365,110 135,460,456 Diluted earnings (loss) per unit attributable to Rayonier, L.P.: $0.53 ($0.01) $1.03 $0.20 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive unit equivalents excluded from the computations of diluted earnings (loss) per unit: Stock options, performance shares, restricted shares and restricted stock units (a) 100,135 592,568 167,668 471,999 Total 100,135 592,568 167,668 471,999 (a) For the three months ended September 30, 2020, the incremental unit equivalents related to stock options, performance shares, restricted shares and restricted stock units were not included in the computation of diluted loss per unit as their inclusion would have had an anti-dilutive effect.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Our debt consisted of the following at September 30, 2021: September 30, 2021 Debt, excluding Timber Funds: Term Credit Agreement borrowings due 2028 at a variable interest rate of 1.7% at September 30, 2021 (a) $350,000 Senior Notes due 2022 at a fixed interest rate of 3.75% 325,000 Senior Notes due 2031 at a fixed interest rate of 2.75% 450,000 Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 1.7% at September 30, 2021 (b) 200,000 New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95% 23,739 New Zealand subsidiary noncontrolling interests shareholder loan due 2026 at a fixed interest rate of 3.64% 27,696 Total principal debt, excluding Timber Funds 1,376,435 Less: Unamortized discounts, excluding Timber Funds (3,505) Less: Current maturities of long-term debt, excluding Timber Funds (199,887) Less: Deferred financing costs, excluding Timber Funds (5,076) Total long-term debt, excluding Timber Funds 1,167,967 Total long-term debt, Timber Funds — Total long-term debt $1,167,967 (a) As of September 30, 2021, the periodic interest rate on the term credit agreement (the “Term Credit Agreement”) was LIBOR plus 1.600%. We estimate the effective fixed interest rate on the term loan facility to be approximately 3.1% after consideration of interest rate swaps and estimated patronage refunds. (b) As of September 30, 2021, the periodic interest rate on the incremental term loan (the “Incremental Term Loan Agreement”) was LIBOR plus 1.650%. We estimate the effective fixed interest rate on the incremental term loan facility to be approximately 2.4% after consideration of interest rate swaps and estimated patronage refunds. Principal payments due during the next five years and thereafter are as follows: Excluding Timber Funds Timber Funds Total 2021 — — — 2022 325,000 — 325,000 2023 — — — 2024 — — — 2025 23,739 — 23,739 Thereafter 1,027,696 — 1,027,696 Total Debt $1,376,435 — $1,376,435 2021 DEBT ACTIVITY U.S. Debt — Excluding Timber Funds In May 2021, we issued and sold $450 million aggregate principal amount of 2.75% senior notes due 2031 (the “Senior Notes due 2031”). The Senior Notes due 2031 were sold at an issue price of 99.195% of their face value, before underwriters discount. Our net proceeds after deducting approximately $3.9 million of underwriting discounts and expenses, were approximately $442.5 million. The discount and debt issuance costs will be amortized to interest expense over the term of the notes using the effective interest method. A portion of the proceeds were used to repay $250 million outstanding under our 2020 Incremental Term Loan Agreement. The remainder will be used for general corporate purposes, which may also include repayment of our 3.75% Senior Notes due 2022 at or prior to maturity. In May 2021, we repaid the $250 million outstanding under our 2020 Incremental Term Loan Agreement. We recognized a loss on early extinguishment of debt of $0.6 million, representing the write-off of unamortized deferred financing costs. The loss on early extinguishment of debt has been recognized in the Consolidated Statements of Income and Comprehensive Income under the caption “Interest and other miscellaneous income (expense), net.” In June 2021, we entered into a Fourth Amendment and Incremental Term Loan Agreement, to amend certain terms of the Credit Agreement and to provide a senior unsecured delayed draw incremental term loan facility (the “2021 Incremental Term Loan Facility”) in an aggregate amount of $200 million. The Fourth Amendment to the Credit Agreement provides for an extension of the maturity date of our $300 million Revolving Credit Facility from April 1, 2025 to June 1, 2026. In addition, the amendment provides for modifications to adjust the pricing grid under the credit agreement to decrease the applicable margin for our Revolving Credit Facility from LIBOR plus 1.500% to LIBOR plus 1.2500%. As a result of the revolver modification, approximately $0.3 million in lender fees have been deferred and will be amortized to interest expense over the term of the revolver. The Fourth Amendment to the Credit Agreement also provides for modifications to adjust the pricing grid under the credit agreement to decrease the applicable margin for our $300 million 2016 Incremental Term Loan Facility from LIBOR plus 1.900% to LIBOR plus 1.6500%. As a result of the debt modification, approximately $0.3 million in third-party expenses have been recognized in the Consolidated Statements of Income and Comprehensive Income under the caption “Interest and other miscellaneous income (expense), net.” The 2021 Incremental Term Loan Facility provides us the ability to make an advance of $200 million on or before June 1, 2022. As of September 30, 2021, no advance has been made under this facility. We expect to use a future advance of $125 million under the 2021 Incremental Term Loan Facility to refinance a portion of the 3.750% Senior Notes due 2022 on a long-term basis, and as such, have excluded $125 million of principal from current maturities of long-term debt, net, in our Consolidated Balance Sheets. Any advance above $125 million may be used to repay other debt or for other general corporate purposes. We have deferred $0.3 million of commitment fees, which will be amortized to interest expense over the term of the access period, through June 1, 2022. Additionally, we deferred $0.2 million in debt issuance costs, which will be amortized to interest expense over the term of the facility, once any future advance is made. In June 2021, we prepaid $100 million on the $300 million Incremental Term Loan Agreement. In connection with the partial prepayment, we recognized a loss on early extinguishment of debt of $0.1 million, representing the write-off of one-third of the unamortized deferred financing costs. The loss on early extinguishment of debt has been recorded in the Consolidated Statements of Income and Comprehensive Income under the caption “Interest and other miscellaneous income (expense), net.” In September 2021, we repaid the $45 million outstanding under our credit facility with Northwest Farm Credit Services (NWFCS). We recognized a gain on early extinguishment of debt of $7.2 million, representing the net write-off of unamortized deferred financing costs and fair market value adjustments, partially offset by a $6.2 million loss related to a make-whole fee due to debt prepayment. The net gain on early extinguishment of debt of approximately $0.9 million has been recognized in the Consolidated Statements of Income and Comprehensive Income under the caption “Interest and other miscellaneous income (expense), net.” During the nine months ended September 30, 2021, we made no borrowings or repayments on our Revolving Credit Facility . At September 30, 2021, we had available borrowings of $299.1 million under the Revolving Credit Facility, net of $0.9 million to secure our outstanding letters of credit. U.S. Debt — Timber Funds In July 2021, we sold the rights to manage Fund III and Fund IV, as well as our ownership interests in both funds for an aggregate purchase price of approximately $35.9 million and recognized a gain of $3.7 million, which was recorded in Other operating income (expense), net. Following the sale, the Fund III Mortgages Payable are no longer recognized in our Consolidated Balance Sheets as of September 30, 2021. See Note 6 — Noncontrolling Interests for more information regarding the Timber Funds. In September 2021, we repaid the $25 million outstanding under our Fund II Mortgages Payable. We recognized a loss on early extinguishment of debt of $6 thousand, representing the write-off of unamortized deferred financing costs. The loss on early extinguishment of debt has been recognized in the Consolidated Statements of Income and Comprehensive Income under the caption “Interest and other miscellaneous income (expense), net.” New Zealand Debt In June 2021, the New Zealand subsidiary renewed its NZ$20 million working capital facility for an additional 12-month term. During the nine months ended September 30, 2021, the New Zealand subsidiary made no borrowings or repayments on its working capital facility. At September 30, 2021, the New Zealand subsidiary had NZ$20.0 million of available borrowings under its working capital facility. In July 2021, the New Zealand subsidiary made a capital distribution to its partners on a pro rata basis in order to redeem certain equity interests, which was reinvested by the partners in shareholder loans to the New Zealand subsidiary. Our capital distribution and portion of the shareholder loan are eliminated in consolidation. The capital distribution to the minority shareholder and its reinvestment in the shareholder loan resulted in the recording of a loan payable by the New Zealand subsidiary in the amount of $28.1 million due in 2026 at a fixed interest rate of 3.64%. As of September 30, 2021, the outstanding balance on the shareholder loan due 2026 is $27.7 million. Except for changes in the New Zealand foreign exchange rate, there have been no adjustments to the carrying value of the shareholder loan since its inception. See Note 6 — Noncontrolling Interests for more information regarding the New Zealand subsidiary. As of September 30, 2021, the outstanding balance on the shareholder loan due 2025 is $23.7 million. Except for changes in the New Zealand foreign exchange rate, there have been no adjustments to the carrying value of the shareholder loan since its inception. See Note 6 — Noncontrolling Interests for more information regarding the New Zealand subsidiary. DEBT COVENANTS — EXCLUDING TIMBER FUNDS In connection with our $350 million Term Credit Agreement, $200 million Incremental Term Loan Agreement, $200 million 2021 Incremental Term Loan Facility and $300 million Revolving Credit Facility, customary covenants must be met, the most significant of which include interest coverage and leverage ratios. The covenants listed below, which are the most significant financial covenants in effect as of September 30, 2021, are calculated on a trailing 12-month basis: Covenant Requirement Actual Ratio Favorable Covenant EBITDA to consolidated interest expense should not be less than 2.5 to 1 11.6 to 1 9.1 Covenant debt to covenant net worth plus covenant debt shall not exceed 65 % 44 % 21 % In addition to these financial covenants listed above, the Senior Notes due 2022, the Senior Notes due 2031, Term Credit Agreement, Incremental Term Loan Agreement, 2021 Incremental Term Loan Facility, and Revolving Credit Facility include customary covenants that limit the incurrence of debt and the disposition of assets, among others. At September 30, 2021, we were in compliance with all applicable covenants.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to market risk related to potential fluctuations in foreign currency exchange rates and interest rates. We use derivative financial instruments to mitigate the financial impact of exposure to these risks. Accounting for derivative financial instruments is governed by ASC Topic 815, Derivatives and Hedging , (“ASC 815”). In accordance with ASC 815, we record our derivative instruments at fair value as either assets or liabilities in the Consolidated Balance Sheets. Changes in the instruments’ fair value are accounted for based on their intended use. Gains and losses on derivatives that are designated and qualify for cash flow hedge accounting are recorded as a component of accumulated other comprehensive income (“AOCI”) and reclassified into earnings when the hedged transaction materializes. Gains and losses on derivatives that are designated and qualify for net investment hedge accounting are recorded as a component of AOCI and will not be reclassified into earnings until the investment is partially or completely liquidated. The changes in the fair value of derivatives not designated as hedging instruments and those which are no longer effective as hedging instruments, are recognized immediately in earnings. FOREIGN CURRENCY EXCHANGE AND OPTION CONTRACTS The New Zealand subsidiary’s export sales are predominately denominated in U.S. dollars, and therefore its cash flows are affected by fluctuations in the exchange rate between the New Zealand dollar and the U.S. dollar. This exposure is partially managed by a natural currency hedge, as ocean freight payments and shareholder distributions are also paid in U.S. dollars. We manage any excess foreign exchange exposure through the use of derivative financial instruments. The New Zealand subsidiary typically hedges 50% to 90% of its estimated foreign currency exposure with respect to the following twelve months forecasted sales and purchases, less distributions, and up to 75% of the forward 12 to 18 months. Additionally, the New Zealand subsidiary will occasionally hedge up to 50% of its estimated foreign currency exposure with respect to the following 18 to 48 months forecasted sales and purchases, less distributions, when the New Zealand dollar is at a cyclical low versus the U.S. dollar. 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 September 30, 2021, foreign currency exchange contracts had maturity dates through March 2023 and all previously existing foreign currency option contracts have expired. Foreign currency exchange and option contracts hedging foreign currency risk on export sales and ocean freight payments qualify for cash flow hedge accounting. We may de-designate these cash flow hedge relationships in advance or at the occurrence of the forecasted transaction. The portion of gains or losses on the derivative instrument previously accumulated in other comprehensive income for de-designated hedges remains in accumulated other comprehensive income until the forecasted transaction affects earnings. Changes in the value of derivative instruments after de-designation are recorded in earnings. INTEREST RATE PRODUCTS We are exposed to cash flow interest rate risk on our variable-rate debt and on anticipated debt issuances. We use variable-to-fixed interest rate swaps and forward-starting interest rate swap agreements to hedge this exposure. For these derivative instruments, we report the gains/losses from the fluctuations in the fair market value of the hedges in AOCI and reclassify them to earnings as interest expense in the same period in which the hedged interest payments affect earnings. To the extent we de-designate or terminate a cash flow hedging relationship and the associated hedged item continues to exist, any unrealized gain or loss of the cash flow hedge at the time of de-designation remains in AOCI and is amortized using the straight-line method through interest expense over the remaining life of the hedged item. To the extent the associated hedged item is no longer effective, the gain or loss is reclassified out of AOCI to earnings immediately. INTEREST RATE SWAPS During the second quarter of 2021, we terminated and cash settled $250 million in notional value of our interest rate swaps, maturing in 2030, in connection with the repayment of $250 million outstanding under the 2020 Incremental Term Loan. Upon termination of the swap, we received $6.8 million from our counterparty. As of September 30, 2021, there was $16.3 million gain recorded in accumulated other comprehensive loss in connection with the terminated interest rate swap, which will be reclassified to earnings through interest expense over the remaining life of the hedged items, as the originally hedged cash flows remain probable. During the second quarter of 2021, we terminated and cash settled $100 million in notional value of our interest rate swaps, maturing in 2026, in connection with the prepayment of $100 million on the 2026 Incremental Term Loan. Upon termination of the swap, we paid $2.2 million to our counterparty that was recognized immediately into earnings as interest expense, as the forecasted cash flows will no longer occur. See Note 9 — Debt for additional information. The following table contains information on the outstanding interest rate swaps as of September 30, 2021: Outstanding Interest Rate Swaps (a) Date Entered Into Term Notional Amount Related Debt Facility Fixed Rate of Swap Bank Margin on Debt Total Effective Interest Rate (b) August 2015 9 years $170,000 Term Credit Agreement 2.20 % 1.60 % 3.80 % August 2015 9 years 180,000 Term Credit Agreement 2.35 % 1.60 % 3.95 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.65 % 3.25 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.65 % 3.25 % (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. TREASURY LOCKS During the first quarter of 2020, we entered into three treasury lock agreements, which were designated and qualified as cash flow hedges. Prior to expiration, we de-designated and settled the treasury locks by converting them into interest rate swap lock agreements (discussed below). As of September 30, 2021, there was $17.8 million loss recorded in accumulated other comprehensive loss in connection with the settled treasury locks, which will be reclassified to earnings as interest expense over the life of the hedged item. For additional information regarding the expired treasury lock agreements, see Note 16 - Derivative Instruments and Hedging Activities in our 2020 Form 10-K. INTEREST RATE SWAP LOCKS Upon de-designation, we converted the above treasury lock agreements to interest rate swap lock agreements, which were designated and qualified as cash flow hedges. During the second quarter of 2020, we de-designated and partially cash settled $11.1 million of the interest rate swap locks and converted them into an interest rate swap agreement. As of September 30, 2021, there was $1.2 million loss recorded in accumulated other comprehensive loss in connection with settled interest rate swap locks, which will be reclassified to earnings as interest expense over the life of the hedged item. For additional information regarding the expired interest rate swap lock agreements, see Note 16 - Derivative Instruments and Hedging Activities in our 2020 Form 10-K. FORWARD-STARTING INTEREST RATE SWAPS During the second quarter of 2021, we de-designated and settled $325 million in notional value of our forward-starting interest rate swap, maturing in 2032, by converting it into a new forward-starting interest rate swap agreement. As of September 30, 2021, there was $9.9 million gain recorded in accumulated other comprehensive loss in connection with the converted forward-starting interest rate swap, which will be reclassified to earnings through interest expense over the remaining life of the hedged item. The following table contains information on the outstanding forward-starting interest rate swaps as of September 30, 2021: Outstanding Forward-Starting Interest Rate Swaps (a) Date Entered Into Term Notional Amount Fixed Rate of Swap Related Debt Facility Forward Date Maximum Period Ending for Forecasted Issuance Date March 2020 4 years $100,000 0.88 % Term Credit Agreement August 2024 N/A May 2020 4 years 50,000 0.74 % Term Credit Agreement August 2024 N/A May 2021 (b) 7 years 200,000 0.77 % Future Issuance Feb. 2022 N/A (a) All forward-starting interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting. (b) The forward-starting interest rate swap entered into in May 2021 contained an embedded mark-to-market gain, which we recovered through a reduced charge in the fixed rate over what would have been charged for an at-market swap. CARBON OPTIONS The New Zealand subsidiary enters into carbon options from time to time to sell carbon assets. Changes in fair value of the carbon option contracts are recorded in “Interest and other miscellaneous income (expense), net” as the contracts do not qualify for hedge accounting treatment. As of September 30, 2021, all previously existing carbon option contracts have expired. The following tables demonstrate the impact, gross of tax, of our derivatives on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Income Statement Location 2021 2020 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive (loss) income ($2,618) $1,946 Foreign currency option contracts Other comprehensive (loss) income (356) 358 Interest rate products Other comprehensive (loss) income 1,288 2,417 Interest expense 2,564 3,783 Nine Months Ended Income Statement Location 2021 2020 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive (loss) income ($6,366) $1,806 Foreign currency option contracts Other comprehensive (loss) income (1,514) 85 Interest rate products Other comprehensive (loss) income 46,433 (91,203) Interest expense 11,935 6,951 Derivatives not designated as hedging instruments: Carbon option contracts Interest and other miscellaneous income (expense), net — 563 During the next 12 months, the amount of the September 30, 2021 AOCI balance, net of tax, expected to be reclassified into earnings is a loss of approximately $11.7 million. The following table contains details of the expected reclassified amounts into earnings: Amount expected to be reclassified into earnings in next 12 months Derivatives designated as cash flow hedges: Foreign currency exchange contracts $139 Interest rate products (11,842) Total estimated loss on derivatives contracts ($11,703) The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets: Notional Amount September 30, 2021 December 31, 2020 Derivatives designated as cash flow hedges: Foreign currency exchange contracts $144,000 $49,000 Foreign currency option contracts — 28,000 Interest rate swaps 550,000 900,000 Forward-starting interest rate swaps 350,000 475,000 The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets: Location on Balance Sheet Fair Value Assets / (Liabilities) (a) September 30, 2021 December 31, 2020 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other current assets $1,892 $4,968 Other assets 7 1,050 Other current liabilities (1,699) — Other non-current liabilities (549) — Foreign currency option contracts Other current assets — 1,526 Other current liabilities — (11) Interest rate swaps Other non-current liabilities (24,178) (51,580) Forward-starting interest rate swaps Other assets 11,206 513 Other non-current liabilities — (13,042) Total derivative contracts: Other current assets $1,892 $6,494 Other assets 11,213 1,563 Total derivative assets $13,105 $8,057 Other current liabilities (1,699) (11) Other non-current liabilities (24,727) (64,622) Total derivative liabilities ($26,426) ($64,633) (a) See Note 11 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy. OFFSETTING DERIVATIVES Derivative financial instruments are presented at their gross fair values in the Consolidated Balance Sheets. Our derivative financial instruments are not subject to master netting arrangements, which would allow the right of offset.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS FAIR VALUE OF FINANCIAL INSTRUMENTS A three-level hierarchy that prioritizes the inputs used to measure fair value was established in the Accounting Standards Codification as follows: Level 1 — Quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than quoted prices included in Level 1. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table presents the carrying amount and estimated fair values of our financial instruments as of September 30, 2021 and December 31, 2020, using market information and what we believe to be appropriate valuation methodologies under GAAP: September 30, 2021 December 31, 2020 Asset (Liability) (a) Carrying Fair Value Carrying Fair Value Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents, excluding Timber Funds $419,604 $419,604 — $80,454 $80,454 — Cash and cash equivalents, Timber Funds 12,202 12,202 — 4,053 4,053 — Restricted cash, Timber Funds (b) 49,209 49,209 — — — — Restricted cash, excluding Timber Funds (c) 625 625 — 2,975 2,975 — Current maturities of long-term debt, excluding Timber Funds (d) (199,887) — (201,440) — — — Long-term debt, excluding Timber Funds (d) (1,167,967) — (1,173,657) (1,300,336) — (1,313,631) Long-term debt, Timber Funds (d) — — — (60,179) — (60,474) Interest rate swaps (e) (24,178) — (24,178) (51,580) — (51,580) Forward-starting interest rate swaps (e) 11,206 — 11,206 (12,529) — (12,529) Foreign currency exchange contracts (e) (349) — (349) 6,018 — 6,018 Foreign currency option contracts (e) — — — 1,515 — 1,515 Noncontrolling Interests in the Operating Partnership (f) 140,555 140,555 — 130,121 130,121 — (a) We did not have Level 3 assets or liabilities at September 30, 2021 and December 31, 2020. (b) Restricted cash, Timber Funds represents the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. See Note 22 — Restricted Cash for additional information. (c) Restricted cash, excluding Timber Funds represents cash held in escrow. See Note 22 — Restricted Cash for additional information. (d) The carrying amount of long-term debt is presented net of deferred financing costs, unamortized discounts and fair value adjustments on non-revolving debt. See Note 9 — Debt for additional information. (e) See Note 10 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets classification of our derivative financial instruments. (f) Noncontrolling Interests in the Operating Partnership is neither an asset or liability and is classified as temporary equity in the Company’s Consolidated Balance Sheets. This relates to the ownership of Rayonier, L.P. units by various individuals and entities other than the Company. We use the following methods and assumptions in estimating the fair value of our financial instruments: Cash and cash equivalents and Restricted cash — The carrying amount is equal to fair market value. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities. The variable rate debt adjusts with changes in the market rate, therefore the carrying value approximates fair value. Interest rate swap agreements — The fair value of interest rate contracts is determined by discounting the expected future cash flows, for each instrument, at prevailing interest rates. Foreign currency exchange contracts — The fair value of foreign currency exchange contracts is determined by a mark-to-market valuation, which estimates fair value by discounting the difference between the contracted forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate. Foreign currency option contracts — The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black-Scholes option pricing model. Noncontrolling Interests in the Operating Partnership — The fair value of noncontrolling interests in the Operating Partnership is determined based on the period-end closing price of Rayonier Inc. common shares.

COMMITMENTS

COMMITMENTS	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	COMMITMENTS At September 30, 2021, the future minimum payments under non-cancellable commitments were as follows: Environmental Remediation (a) Development Projects (b) Commitments (c) Total Remaining 2021 $255 $11,113 $3,328 $14,696 2022 1,534 13,695 14,254 29,483 2023 3,188 267 12,449 15,904 2024 3,188 267 9,366 12,821 2025 519 267 5,534 6,320 Thereafter 2,266 3,916 8,242 14,424 $10,950 $29,525 $53,173 $93,648 (a) Environmental remediation represents our estimate of potential liability associated with environmental contamination and Natural Resource Damages (NRD) in Port Gamble, Washington. See Note 14 - Environmental and Natural Resource Damage Liabilities for additional information. (b) Primarily consisting of payments expected to be made on our Wildlight and Richmond Hill development projects.

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIESWe have been named as a defendant in various lawsuits and claims arising in the normal course of business. While we have procured reasonable and customary insurance covering risks normally occurring in connection with our businesses, we have in certain cases retained some risk through the operation of large deductible insurance plans, primarily in the areas of executive risk, property, automobile and general liability. These pending lawsuits and claims, either individually or in the aggregate, are not expected to have a material adverse effect on our financial position, results of operations, or cash flow.

ENVIRONMENTAL AND NATURAL RESOU

ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES	9 Months Ended
	Sep. 30, 2021
Environmental Remediation Obligations [Abstract]
ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES	ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES Various federal and state environmental laws in the states in which we operate place cleanup or restoration liability on the current and former owners of affected real estate. These laws are often a source of “strict liability,” meaning that an owner or operator need not necessarily have caused, or even been aware of, the release of contaminated materials. Similarly, there are certain environmental laws that allow state, federal, and tribal trustees (collectively, the “Trustees”) to bring suit against property owners to recover damage for injuries to natural resources. Like the liability that attaches to current property owners in the cleanup context, liability for natural resource damages (“NRD”) can attach to a property simply because an injury to natural resources resulted from releases of contaminated materials on or from the owner’s property, regardless of culpability for the release. For additional information, see Note 13 - Environmental and Natural Resource Damage Liabilities in the 2020 Form 10-K. Changes in environmental and NRD liabilities from December 31, 2020 to September 30, 2021 are shown below: Port Gamble, WA Non-current portion at December 31, 2020 $10,615 Plus: Current portion 1,026 Total Balance at December 31, 2020 11,641 Expenditures charged to liabilities (762) Increase to liabilities 71 Total Balance at September 30, 2021 10,950 Less: Current portion (1,095) Non-current portion at September 30, 2021 $9,855 These estimates were based on assumptions that we believe to be reasonable; however, actual results may differ from these estimates. See Note 2 - Merger with Pope Resources for information regarding the final allocation of fair value to environmental and NRD liabilities assumed in the merger with Pope Resources. It is expected that the upland mill site cleanup and NRD restoration will occur over the next two Note 12 - Commitments .

GUARANTEES

GUARANTEES	9 Months Ended
	Sep. 30, 2021
Guarantees [Abstract]
GUARANTEES	GUARANTEES We provide financial guarantees as required by creditors, insurance programs, and various governmental agencies. As of September 30, 2021, the following financial guarantees were outstanding: Financial Commitments (a) Maximum Potential Standby letters of credit $885 Surety bonds (b) 12,429 Total financial commitments $13,314 (a) We have not recorded any liabilities for these financial commitments in our Consolidated Balance Sheets. The guarantees are not subject to measurement, as the guarantees are dependent on our own performance. (b) Surety bonds are issued primarily to secure performance obligations related to various operational activities, to provide collateral for our Wildlight development project in Nassau County, Florida and in connection with pending and completed sales from the Harbor Hill project in Gig Harbor, Washington. These surety bonds expire at various dates during 2021, 2022, 2023 and 2024 and are expected to be renewed as required.

HIGHER AND BETTER USE TIMBERLAN

HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	9 Months Ended
	Sep. 30, 2021
Real Estate [Abstract]
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS	HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS We continuously assess potential alternative uses of our timberlands, as some properties may become more valuable for development, residential, recreation or other purposes. We periodically transfer, via a sale or contribution from the real estate investment trust (“REIT”) entities to taxable REIT subsidiaries (“TRS”), higher and better use (“HBU”) timberlands to enable land-use entitlement, development or marketing activities. We also acquire HBU properties in connection with timberland acquisitions. These properties are managed as timberlands until sold or developed. While the majority of HBU sales involve rural and recreational land, we also selectively pursue various land-use entitlements on certain properties for residential, commercial and industrial development in order to enhance the long-term value of such properties. For selected development properties, we also invest in targeted infrastructure improvements, such as roadways and utilities, to accelerate the marketability and improve the value of such properties. Changes in higher and better use timberlands and real estate development investments from December 31, 2020 to September 30, 2021 are shown below: Higher and Better Use Timberlands and Real Estate Development Investments Land and Timber Development Investments Total Non-current portion at December 31, 2020 $79,901 $28,617 $108,518 Plus: Current portion (a) 212 6,544 6,756 Total Balance at December 31, 2020 80,113 35,161 115,274 Non-cash cost of land and improved development (11,566) (6,956) (18,522) Amortization of parcel real estate development investments — (4,518) (4,518) Timber depletion from harvesting activities and basis of timber sold in real estate sales (948) — (948) Capitalized real estate development investments (b) — 16,871 16,871 Capital expenditures (silviculture) 76 — 76 Intersegment transfers 8,179 — 8,179 Purchase price allocation adjustment (c) 8,238 — 8,238 Total Balance at September 30, 2021 84,092 40,558 124,650 Less: Current portion (a) (601) (13,457) (14,058) Non-current portion at September 30, 2021 $83,491 $27,101 $110,592 (a) The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 17 — Inventory for additional information. (b) Capitalized real estate development investments include $0.4 million of capitalized interest and $7.7 million of parcel real estate development investments. Parcel real estate development investments represent investments made for specific lots and/or commercial parcels that are currently under contract or expected to be ready for market within a year. (c) Reflects measurement period adjustments on HBU properties acquired in the merger with Pope Resources. The final allocation of fair value to HBU properties acquired in the merger is approximately $34.7 million. This includes development properties in the town of Port Gamble, Washington, development projects in Gig Harbor, Kingston, and Bremerton, Washington and various other assets. See Note 2 - Merger with Pope Resources

INVENTORY

INVENTORY	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY As of September 30, 2021 and December 31, 2020, our inventory consisted entirely of finished goods, as follows: September 30, 2021 December 31, 2020 Finished goods inventory Real estate inventory (a) $14,058 $6,756 Log inventory 4,534 3,838 Total inventory $18,592 $10,594 (a) Represents the cost of HBU real estate (including capitalized development investments) under contract to be sold. See Note 16 — Higher And Better Use Timberlands and Real Estate Development Investments for additional information.

OTHER OPERATING INCOME (EXPENSE

OTHER OPERATING INCOME (EXPENSE), NET	9 Months Ended
	Sep. 30, 2021
Other Income and Expenses [Abstract]
OTHER OPERATING INCOME (EXPENSE), NET	OTHER OPERATING INCOME (EXPENSE), NET Other operating income (expense), net consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Gain (loss) on foreign currency remeasurement, net of cash flow hedges $1,379 ($976) $5,730 ($2,263) Gain on sale or disposal of property and equipment — 19 93 26 Gain on investment in Timber Funds (a) 3,729 — 3,729 — Log trading marketing fees — — 6 50 Costs related to the merger with Pope Resources (b) — (430) — (16,415) Equity income (loss) related to Bainbridge Landing LLC joint venture (c) 36 (214) 241 (273) Miscellaneous expense, net (74) (52) (325) (372) Total $5,070 ($1,653) $9,474 ($19,247) (a) See Note 6 - Noncontrolling Interests and Note 7 - Variable Interest Entities for additional information on Timber Funds. (b) Includes legal, accounting, due diligence, consulting and other costs related to the merger with Pope Resources. See Note 2 - Merger with Pope Resources and Note 24 - Charges for Integration and Restructuring for additional information. (c) See Note 6 - Noncontrolling Interests and Note 7 - Variable Interest Entities for additional information on Ferncliff Investors.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS We have one qualified non-contributory defined benefit pension plan covering a portion of our employees and an unfunded plan that provides benefits in excess of amounts allowable under current tax law in the qualified plan. Both plans are closed to new participants. Effective December 31, 2016, we froze benefits for all employees participating in the pension plan. In lieu of the pension plan, we provide those employees with an enhanced 401(k) plan match. Employee benefit plan liabilities are calculated using actuarial estimates and management assumptions. These estimates are based on historical information, along with certain assumptions about future events. Changes in assumptions, as well as changes in actual experience, could cause the estimates to change. We are not required to make mandatory 2021 pension contributions due to our plan’s improved funding status and have made no pension contribution payments during the three and nine months ended September 30, 2021. The net pension and postretirement benefit (credits) costs that have been recorded are shown in the following table: Components of Net Periodic Benefit (Credit) Cost Income Statement Location Pension Postretirement Three Months Ended Three Months Ended 2021 2020 2021 2020 Service cost Selling and general expenses — — $2 $2 Interest cost Interest and other miscellaneous income (expense), net 557 677 11 13 Expected return on plan assets (a) Interest and other miscellaneous income (expense), net (936) (876) — — Amortization of losses Interest and other miscellaneous income (expense), net 288 215 5 2 Net periodic benefit (credit) cost ($91) $16 $18 $17 Components of Net Periodic Benefit (Credit) Cost Income Statement Location Pension Postretirement Nine Months Ended Nine Months Ended 2021 2020 2021 2020 Service cost Selling and general expenses — — $6 $5 Interest cost Interest and other miscellaneous income (expense), net 1,671 2,029 34 38 Expected return on plan assets (a) Interest and other miscellaneous income (expense), net (2,809) (2,628) — — Amortization of losses Interest and other miscellaneous income (expense), net 865 646 15 6 Net periodic benefit (credit) cost ($273) $47 $55 $49 (a) The weighted-average expected long-term rate of return on plan assets used in computing 2021 net periodic benefit cost for pension benefit s i s 5.7%.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Rayonier is a REIT under the Internal Revenue Code and therefore generally does not pay U.S. federal or state income tax. As of September 30, 2021, Rayonier owns a 97.3% interest in the Operating Partnership and conducts substantially all of its timberland operations through the Operating Partnership. The taxable income or loss generated by the Operating Partnership is passed through and reported to its unit holders (including the Company) on a Schedule K-1 for inclusion in each unitholder’s income tax return. Certain operations, including log trading and certain real estate activities, such as the entitlement, development and sale of HBU properties, are conducted through our TRS. The TRS subsidiaries are subject to United States federal and state corporate income tax. The New Zealand timber operations are conducted by the New Zealand subsidiary, which is subject to corporate-level tax at 28% in New Zealand and is treated as a partnership for U.S. income tax purposes. PROVISION FOR INCOME TAXES The Company’s tax expense is principally related to corporate-level tax in New Zealand and non-resident withholding tax on repatriation of earnings from New Zealand. The following table contains the income tax expense recognized on the Consolidated Statements of Income and Comprehensive Income: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Income tax expense ($2,811) ($720) ($13,114) ($7,416) ANNUAL EFFECTIVE TAX RATE The Company’s 2021 effective tax rate after discrete items is below the 21.0% U.S. statutory rate due to tax benefits associated with being a REIT. The following table contains the Company’s annualized effective tax rate after discrete items: Nine Months Ended 2021 2020 Annualized effective tax rate after discrete items 6.4 % 29.9 %

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table summarizes the changes in AOCI by component for the nine months ended September 30, 2021 and the year ended December 31, 2020. All amounts are presented net of tax and exclude portions attributable to noncontrolling interests. Foreign currency translation (loss) gains Net investment hedges of New Zealand subsidiary Cash flow hedges Employee benefit plans Total Rayonier, L.P. Allocation to Operating Partnership Total Rayonier Inc. Balance as of December 31, 2019 ($226) $1,321 ($8,910) ($23,387) ($31,202) — ($31,202) Other comprehensive income (loss) before reclassifications 22,928 — (71,644) (1,794) (50,510) — (50,510) Amounts reclassified from accumulated other comprehensive loss — — 9,498 869 (b) 10,367 (2,540) 7,827 Net other comprehensive income (loss) 22,928 — (62,146) (925) (40,143) (2,540) (42,683) Balance as of December 31, 2020 $22,702 $1,321 ($71,056) ($24,312) ($71,345) ($2,540) ($73,885) Other comprehensive (loss) income before reclassifications (16,369) — 40,125 (a) — 23,756 — 23,756 Amounts reclassified from accumulated other comprehensive loss — — 13,874 881 (b) 14,755 (1,186) 13,569 Net other comprehensive (loss) income (16,369) — 53,999 881 38,511 (1,186) 37,325 Balance as of $6,333 $1,321 ($17,057) ($23,431) ($32,834) ($3,726) ($36,560) (a) Includes $46.4 million of other comprehensive income related to interest rate swaps and forward-starting interest rate swaps. See Note 10 — Derivative Financial Instruments and Hedging Activities for additional information. (b) This component of other comprehensive (loss) income is included in the computation of net periodic pension and post-retirement costs. See Note 19 — Employee Benefit Plans for additional information. The following table presents details of the amounts reclassified in their entirety from AOCI to net income for the nine months ended September 30, 2021 and September 30, 2020: Details about accumulated other comprehensive income (loss) components Amount reclassified from accumulated other comprehensive income (loss) Affected line item in the income statement September 30, 2021 September 30, 2020 Realized loss (gain) on foreign currency exchange contracts $2,322 ($2,568) Other operating income (expense), net Realized loss on foreign currency option contracts 1,177 (15) Other operating income (expense), net Noncontrolling interests (805) 594 Comprehensive (loss) income attributable to noncontrolling interests Realized loss on interest rate contracts 11,935 6,951 Interest expense Income tax effect from net (loss) gain on foreign currency contracts (755) 557 Income tax expense Net loss from accumulated other comprehensive income $13,874 $5,519

RESTRICTED CASH

RESTRICTED CASH	9 Months Ended
	Sep. 30, 2021
Restricted Cash and Investments [Abstract]
RESTRICTED CASH	RESTRICTED CASH Restricted cash, Timber Funds includes the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. Restricted cash, excluding Timber Funds, includes cash balances held in escrow as collateral for certain contractual obligations related to our Richmond Hill development project as well as cash held in escrow for real estate sales. The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 2020 Cash and cash equivalents $431,806 $78,151 Restricted cash, Timber Funds 49,209 — Restricted cash, excluding Timber Funds (Held in escrow) 625 475 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $481,640 $78,626

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALEAssets held for sale is composed of properties under contract and expected to be sold within 12 months that also meet the other relevant held-for-sale criteria in accordance with ASC 360-10-45-9. As of September 30, 2021 and December 31, 2020, the basis in properties meeting this classification was $56.4 million and $3.4 million, respectively. Since the basis in these properties was less than the fair value, including costs to sell, no impairment was recognized. Included in assets held for sale as of September 30, 2021 are $54.9 million of timber and timberland assets owned by ORM Timber Fund II, Inc., in which we maintain a 20% ownership interest.

CHARGES FOR INTEGRATION AND RES

CHARGES FOR INTEGRATION AND RESTRUCTURING	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
CHARGES FOR INTEGRATION AND RESTRUCTURING	CHARGES FOR INTEGRATION AND RESTRUCTURING During 2020, we incurred and accrued for termination benefits (primarily severance) and accelerated share-based payment costs based upon actual and expected qualifying terminations of certain employees as a result of restructuring decisions made concurrent with and subsequent to the merger with Pope Resources. We also incurred non-recurring professional services costs for investment banking, legal, consulting, accounting and certain other fees directly attributable to the merger with Pope Resources. A summary of the charges for integration and restructuring related to the merger with Pope Resources is presented below: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Termination benefits — $70 — $651 Acceleration of share-based compensation related to qualifying terminations — 92 — 324 Professional services — 239 — 13,553 Other integration and restructuring costs — 29 — 1,887 Total integration and restructuring charges related to the merger with Pope Resources — $430 — $16,415 During the three and nine months ended September 30, 2020, we incurred $0.1 million and $0.7 million, respectively, in severance benefits related to restructuring associated with the Pope Resources merger. As of December 31, 2020, there was $0.1 million of accrued severance recorded within “Accrued Payroll and Benefits” in our Consolidated Balance Sheets. As of September 30, 2021, all severance associated with the merger with Pope Resources has been paid.

RELATED PARTY

RELATED PARTY	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY	RELATED PARTY In January 2020, we entered into an agreement to sell developed lots to Mattamy Jacksonville LLC, a wholly owned subsidiary of Mattamy Homes, for an aggregate base purchase price of $4.45 million (subject to multiple takedowns over a 2 year period), plus additional consideration as to each lot to the extent the ultimate sales price of each finished home exceeds agreed price thresholds (the “Mattamy Contract”). In May 2021, we entered into an amendment to the original agreement, which sells additional lots to Mattamy for an aggregate base purchase price of $1.0 million. The Mattamy contract also includes marketing fee revenue based on a percentage of the sales price of each finished home. In September 2020, Keith Bass, a member of our Board of Directors, was named the Chief Executive Officer of Mattamy Homes US. Following this development, the Mattamy Contract and the ongoing obligations therein, were reviewed by the Nominating and Corporate Governance Committee in accordance with established policies and procedures regarding the authorization and approval of transactions with related parties. The following table demonstrates the impact, gross of tax, of our related party transactions on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended: Three Months Ended September 30, Nine Months Ended September 30, Related Party Transaction Location on Statement of Income and Comprehensive Income 2021 2020 2021 2020 Mattamy Contract Sales $1,022 — $2,510 —

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The unaudited consolidated financial statements and notes thereto of Rayonier Inc. and its subsidiaries and Rayonier, L.P. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The Rayonier Inc. and Rayonier, L.P. year-end balance sheet information was derived from audited financial statements not included herein. In the opinion of management, these financial statements and notes reflect any adjustments (all of which are normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. These statements and notes should be read in conjunction with the financial statements and supplementary data included in our Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC (the “2020 Form 10-K”). On May 8, 2020, Rayonier, L.P. acquired Pope Resources and became the general partner of Pope Resources. As of September 30, 2021, the Company owned a 97.3% interest in the Operating Partnership, with the remaining 2.7% interest owned by limited partners of the Operating Partnership. As the sole general partner of the Operating Partnership, Rayonier Inc. has exclusive control of the day-to-day management of the Operating Partnership. Please see Note 2 - Merger with Pope Resources and Note 24 - Charges for Integration and Restructuring for further information pertaining to the merger.
New Accounting Standards	NEW ACCOUNTING STANDARDS In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, Reference Rate Reform (Topic 848) , which provides optional guidance to ease the potential burden in accounting due to reference rate reform. ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During Q2 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In August 2020, the FASB issued ASU 2020-06, Debt–Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging–Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. This ASU (1) simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options , that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revises the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification; and (3) revises the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (EPS) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. We are currently in the process of evaluating the effects of the provisions of ASU 2020-06 on our financial statements.
Subsequent Events	SUBSEQUENT EVENTS On October 5, 2021, we sold approximately 5,000 acres of Fund II timberland assets in Oregon for an aggregate purchase price of approximately $37.2 million. This sale will not have a material effect on our consolidated financial statements.
Revenue Recognition	PERFORMANCE OBLIGATIONS We recognize revenue when control of promised goods or services (“performance obligations”) is transferred to customers, in an amount that reflects the consideration expected in exchange for those goods or services (“transaction price”). We generally satisfy performance obligations within a year of entering into a contract and therefore have applied the disclosure exemption found under ASC 606-10-50-14. Unsatisfied performance obligations as of September 30, 2021 are primarily due to advances on stumpage contracts, unearned license revenue and post-closing obligations on real estate sales. These performance obligations are expected to be satisfied within the next twelve months. We generally collect payment within a year of satisfying performance obligations and therefore have elected not to adjust revenues for a financing component. CONTRACT BALANCES The timing of revenue recognition, invoicing and cash collections results in accounts receivable and deferred revenue (contract liabilities) on the Consolidated Balance Sheets. Accounts receivable are recorded when we have an unconditional right to consideration for completed performance under the contract. Contract liabilities relate to payments received in advance of performance under the contract. Contract liabilities are recognized as revenue as (or when) we perform under the contract.
Segment Reporting	Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. We evaluate financial performance based on segment operating income (loss) and Adjusted Earnings before Interest, Taxes, Depreciation, Depletion and Amortization (“Adjusted EBITDA”). Asset information is not reported by segment, as we do not produce asset information by segment internally. Operating income as presented in the Consolidated Statements of Income and Comprehensive Income is equal to segment income. Certain income (loss) items in the Consolidated Statements of Income and Comprehensive Income are not allocated to segments. These items, which include interest income (expense), miscellaneous income (expense) and income tax expense, are not considered by management to be part of segment operations and are included under “unallocated interest expense and other.”
Derivatives	Accounting for derivative financial instruments is governed by ASC Topic 815, Derivatives and Hedging
Fair Value of Financial Instruments	Foreign currency exchange and option contracts hedging foreign currency risk on export sales and ocean freight payments qualify for cash flow hedge accounting. We may de-designate these cash flow hedge relationships in advance or at the occurrence of the forecasted transaction. The portion of gains or losses on the derivative instrument previously accumulated in other comprehensive income for de-designated hedges remains in accumulated other comprehensive income until the forecasted transaction affects earnings. Changes in the value of derivative instruments after de-designation are recorded in earnings. We use the following methods and assumptions in estimating the fair value of our financial instruments: Cash and cash equivalents and Restricted cash — The carrying amount is equal to fair market value. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities. The variable rate debt adjusts with changes in the market rate, therefore the carrying value approximates fair value. Interest rate swap agreements — The fair value of interest rate contracts is determined by discounting the expected future cash flows, for each instrument, at prevailing interest rates. Foreign currency exchange contracts — The fair value of foreign currency exchange contracts is determined by a mark-to-market valuation, which estimates fair value by discounting the difference between the contracted forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate. Foreign currency option contracts — The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black-Scholes option pricing model. Noncontrolling Interests in the Operating Partnership — The fair value of noncontrolling interests in the Operating Partnership is determined based on the period-end closing price of Rayonier Inc. common shares.

MERGER WITH POPE RESOURCES (Tab

MERGER WITH POPE RESOURCES (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Total Consideration Transferred by Rayonier in the Merger	The total purchase price was as follows: Cash consideration $247,318 Equity consideration 172,640 Redeemable Operating Partnership Unit consideration 106,752 Fair value of Pope Resources units held by us (a) 11,211 Total purchase price $537,921 (a) Based on the closing price of Pope Resources units on the NASDAQ on May 7, 2020.
Business Combination, Changes In Depletion And Depreciation	As a result of refinements to timberlands preliminarily recorded values, we recognized the following decreases in depletion expense during the nine months ended September 30, 2021: Nine months ended September 30, 2021 Pacific Northwest Timber Timber Funds Total Depletion ($182) ($1,202) ($1,384) Total ($182) ($1,202) ($1,384)
Schedule of Allocation of Purchase Price to the Identifiable Assets Acquired and Liabilities Assumed	The final allocation of purchase price to the identifiable assets acquired and liabilities assumed is as follows: Core Timberlands Timber Funds Total Timberland and Real Estate Business Cash $7,380 $8,870 $16,250 Accounts receivable 2,459 1,787 4,246 Other current assets 703 260 963 Timber and Timberlands 498,630 449,073 947,703 Higher and Better Use Timberlands and Real Estate Development Investments 34,748 — 34,748 Property, plant and equipment 11,616 — 11,616 Other assets (a) 3,737 2,194 5,931 Total identifiable assets acquired $559,273 $462,184 $1,021,457 Accounts payable 274 293 567 Current maturities of long-term debt — 25,084 25,084 Accrued interest 244 275 519 Other current liabilities 9,038 2,080 11,118 Long-term debt 53,502 35,759 89,261 Long-term environmental liabilities 10,748 — 10,748 Other non-current liabilities (b) 2,724 461 3,185 Total liabilities assumed $76,530 $63,952 $140,482 Net identifiable assets $482,743 $398,232 $880,975 Less: noncontrolling interests (3,816) (339,238) (343,054) Total net assets acquired $478,927 $58,994 $537,921 (a) Other assets includes a $1.9 million intangible asset in connection with the Timberland Investment Management business. (b) Other non-current liabilities includes a $3.2 million deferred income tax liability resulting from the fair value adjustment to Pope Resources’ assets and liabilities.
Schedule of Unaudited Pro Forma Information	Pursuant to ASC 805, unaudited supplemental pro forma results of operations for the three and nine months ended September 30, 2020, assuming the acquisition had occurred as of January 1, 2020, are presented below (in thousands, except per share and unit amounts): Three Months Ended Nine Months Ended September 30, 2020 Sales $198,975 $684,900 Net income attributable to Rayonier Inc. ($1,110) $25,800 Basic earnings per share attributable to Rayonier Inc. ($0.01) $0.19 Diluted earnings per share attributable to Rayonier Inc. ($0.01) $0.19 Net income attributable to Rayonier, L.P. ($1,147) $26,648 Basic earnings per unit attributable to Rayonier, L.P. ($0.01) $0.19 Diluted earnings per unit attributable to Rayonier, L.P. ($0.01) $0.19

SEGMENT AND GEOGRAPHICAL INFO_2

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize the segment information for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, SALES 2021 2020 2021 2020 Southern Timber $44,818 $47,653 $145,789 $147,402 Pacific Northwest Timber 31,513 28,885 108,357 86,131 New Zealand Timber 75,558 62,804 213,696 142,112 Timber Funds (a) 94,469 9,907 128,054 17,431 Real Estate (b) 93,375 28,791 178,409 197,364 Trading 25,583 22,201 76,795 65,505 Intersegment Eliminations (c) (590) (1,366) (3,496) (2,310) Total $364,726 $198,875 $847,604 $653,635 (a) The three and nine months ended September 30, 2021 include $75.4 million and $102.1 million, respectively, of sales attributable to noncontrolling interests in Timber Funds. Included in sales attributable to noncontrolling interests in Timber Funds for the three and nine months ended September 30, 2021 is $69.7 million from Fund II Timberland Dispositions attributable to noncontrolling interests in Timber Funds. The three and nine months ended September 30, 2021 also include $17.4 million from Fund II Timberland Dispositions attributable to Rayonier. The three and nine months ended September 30, 2020 include $7.7 million and $13.5 million of sales attributable to noncontrolling interests in Timber Funds. (b) The three and nine months ended September 30, 2021 include $20.0 million and $56.0 million, respectively, from Large Dispositions. The nine months ended September 30, 2020 includes $116.0 million from a Large Disposition. Large Dispositions are defined as transactions involving the sale of timberland that exceed $20 million in size and do not have a demonstrable premium relative to timberland value. (c) Primarily consists of the elimination of timberland investment management fees paid to us by the timber funds which are initially recognized as sales and cost of sales within the Timber Funds segment, as well as log marketing fees paid to our Trading segment from our Southern Timber and Pacific Northwest Timber segments for marketing log export sales. Three Months Ended September 30, Nine Months Ended September 30, OPERATING INCOME (LOSS) 2021 2020 2021 2020 Southern Timber (a) $12,778 $5,090 $47,105 $31,368 Pacific Northwest Timber 2,071 (1,825) 5,293 (9,453) New Zealand Timber 13,302 10,720 47,959 21,142 Timber Funds (b) 41,285 (12,370) 44,778 (14,262) Real Estate (c) 60,617 9,459 112,816 61,081 Trading (33) (557) 628 (474) Corporate and Other (d) (6,706) (8,737) (22,337) (37,383) Total Operating Income 123,314 1,780 236,242 52,019 Unallocated interest expense and other (9,991) (10,558) (34,165) (27,225) Total Income before Income Taxes $113,323 ($8,778) $202,077 $24,794 (a) The three and nine months ended September 30, 2020 includes $6.0 million of timber write-offs resulting from casualty events. Timber write-offs resulting from casualty events are recorded within the Consolidated Statements of Income and Comprehensive Income under the caption “Cost of sales”. (b) The three and nine months ended September 30, 2021 include $30.5 million and $33.3 million, respectively, of operating income attributable to noncontrolling interests in Timber Funds. Included in operating income attributable to noncontrolling interests in Timber Funds for the three and nine months ended September 30, 2021 is a $28.8 million gain on Fund II Timberland Dispositions attributable to noncontrolling interests in Timber Funds. The three and nine months ended September 30, 2021 also include a $7.2 million gain on Fund II Timberland Dispositions attributable to Rayonier and a $3.7 million gain on investment in Timber Funds. The three and nine months ended September 30, 2020 include $10.3 million and $12.3 million, respectively, of operating loss attributable to noncontrolling interests in Timber Funds. Included in operating loss attributable to noncontrolling interests in Timber Funds for the three and nine months ended September 30, 2020 is $7.3 million related to timber write-offs resulting from casualty events attributable to noncontrolling interests in Timber Funds. The three and nine months ended September 30, 2020 also include $1.8 million of timber write-offs resulting from casualty events attributable to Rayonier. Timber write-offs resulting from casualty events are recorded within the Consolidated Statements of Income and Comprehensive Income under the caption “Cost of sales”. (c) The three and nine months ended September 30, 2021 include $14.5 million and $44.8 million from Large Dispositions. The nine months ended September 30, 2020 includes $28.7 million from a Large Disposition. (d) The three and nine months ended September 30, 2020 include $0.4 million and $16.4 million, respectively, of integration and restructuring costs related to the merger with Pope Resources. See Note 24 — Charges for Integration and Restructuring for additional details. Three Months Ended September 30, Nine Months Ended September 30, DEPRECIATION, DEPLETION AND AMORTIZATION 2021 2020 2021 2020 Southern Timber $11,604 $14,954 $39,539 $48,368 Pacific Northwest Timber 10,479 10,912 38,795 32,221 New Zealand Timber 6,555 7,345 20,757 17,062 Timber Funds (a) 43,158 4,170 54,780 8,239 Real Estate (b) 6,797 5,527 16,889 47,950 Corporate and Other 316 375 892 1,011 Total $78,909 $43,283 $171,652 $154,851 (a) The three and nine months ended September 30, 2021 include $34.4 million and $44.4 million, respectively, of depreciation, depletion and amortization attributable to noncontrolling interests in Timber Funds. Included in depreciation, depletion, and amortization attributable to noncontrolling interests in Timber Funds for the three and nine months ended September 30, 2021 is $32.5 million related to Fund II Timberland Dispositions attributable to noncontrolling interests in Timber Funds. The three and nine months ended September 30, 2021 also include $8.1 million related to Fund II Timberland Dispositions attributable to Rayonier. The three and nine months ended September 30, 2020 include $3.7 million and $7.2 million, respectively, of depreciation, depletion and amortization attributable to noncontrolling interests in Timber Funds. (b) The three and nine months ended September 30, 2021 includes $5.0 million and $9.8 million, respectively, from Large Dispositions. The nine months ended September 30, 2020 includes $35.4 million from a Large Disposition. Three Months Ended September 30, Nine Months Ended September 30, NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT 2021 2020 2021 2020 Timber Funds (a) $8,635 — $8,635 — Real Estate (b) 15,845 7,259 22,913 72,340 Total $24,480 $7,259 $31,548 $72,340 (a) The three and nine months ended September 30, 2021 includes $8.6 million of non-cash cost of land and improved development from Fund II Timberland Dispositions, of which $6.9 million was attributable to noncontrolling interests in Timber Funds and $1.7 million was attributable to Rayonier.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Contract with Customer, Liabilities	The following table summarizes revenue recognized during the three and nine months ended September 30, 2021 and 2020 that was included in the contract liability balance at the beginning of each year: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue recognized from contract liability balance at the beginning of the year (a) $235 $690 $10,204 $10,296 (a) Revenue recognized was primarily from hunting licenses and the use of advances on pay-as-cut timber sales.
Disaggregation of Revenue by Product	The following tables present our revenue from contracts with customers disaggregated by product type for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total September 30, 2021 Pulpwood $21,358 $2,116 $10,746 $127 — $3,861 — $38,208 Sawtimber 17,680 28,134 64,562 6,707 — 21,281 — 138,364 Hardwood 247 — — — — — — 247 Total Timber Sales 39,285 30,250 75,308 6,834 — 25,142 — 176,819 License Revenue, Primarily from Hunting 4,588 298 161 11 — — — 5,058 Other Non-Timber/Carbon Revenue 945 965 89 25 — — — 2,024 Agency Fee Income — — — — — 350 — 350 Fund II Timberland Dispositions — — — 87,100 — — — 87,100 Total Non-Timber Sales 5,533 1,263 250 87,136 — 350 — 94,532 Improved Development — — — — 27,774 — — 27,774 Unimproved Development — — — — 37,500 — — 37,500 Rural — — — — 6,937 — — 6,937 Timberland & Non-Strategic — — — — 44 — — 44 Deferred Revenue/Other (a) — — — — 728 — — 728 Large Dispositions — — — — 20,048 — — 20,048 Total Real Estate Sales — — — — 93,031 — — 93,031 Revenue from Contracts with Customers 44,818 31,513 75,558 93,970 93,031 25,492 — 364,382 Lease Revenue — — — — 344 — — 344 Intersegment — — — 499 — 91 (590) — Total Revenue $44,818 $31,513 $75,558 $94,469 $93,375 $25,583 ($590) $364,726 Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total September 30, 2020 Pulpwood $22,061 $1,963 $7,943 $227 — $2,534 — $34,728 Sawtimber 19,356 25,513 51,400 8,397 — 19,575 — 124,241 Hardwood 760 — — — — — — 760 Total Timber Sales 42,177 27,476 59,343 8,624 — 22,109 — 159,729 License Revenue, Primarily from Hunting 4,461 252 60 (6) — — — 4,767 Other Non-Timber/Carbon Revenue 1,015 1,157 3,401 15 — — — 5,588 Total Non-Timber Sales 5,476 1,409 3,461 9 — — — 10,355 Improved Development — — — — 1,344 — — 1,344 Unimproved Development — — — — — — — — Rural — — — — 23,245 — — 23,245 Timberland & Non-Strategic — — — — 42 — — 42 Conservation Easement — — — — 3,099 — — 3,099 Deferred Revenue/Other (a) — — — — 737 — — 737 Total Real Estate Sales — — — — 28,467 — — 28,467 Revenue from Contracts with Customers 47,653 28,885 62,804 8,633 28,467 22,109 — 198,551 Lease Revenue — — — — 324 — — 324 Intersegment — — — 1,274 — 92 (1,366) — Total Revenue $47,653 $28,885 $62,804 $9,907 $28,791 $22,201 ($1,366) $198,875 (a) Includes deferred revenue adjustments, revenue true-ups and marketing fees related to Improved Development sales. Nine Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total September 30, 2021 Pulpwood $66,941 $6,689 $32,555 $783 — $9,372 — $116,340 Sawtimber 58,335 97,647 180,339 36,433 — 66,146 — 438,900 Hardwood 1,920 — — — — — — 1,920 Total Timber Sales 127,196 104,336 212,894 37,216 — 75,518 — 557,160 License Revenue, Primarily From Hunting 13,501 505 300 41 — — — 14,347 Other Non-Timber/Carbon Revenue 5,092 3,516 502 438 — — — 9,548 Agency Fee Income — — — — — 1,040 — 1,040 Fund II Timberland Dispositions — — — 87,100 — — — 87,100 Total Non-Timber Sales 18,593 4,021 802 87,579 — 1,040 — 112,035 Improved Development — — — — 47,366 — — 47,366 Unimproved Development — — — — 37,500 — — 37,500 Rural — — — — 36,999 — — 36,999 Timberland & Non-Strategic — — — — 44 — — 44 Conservation Easement — — — — 3,855 — — 3,855 Deferred Revenue/Other (a) — — — — (4,260) — — (4,260) Large Dispositions — — — — 56,048 — — 56,048 Total Real Estate Sales — — — — 177,552 — — 177,552 Revenue from Contracts with Customers 145,789 108,357 213,696 124,795 177,552 76,558 — 846,747 Lease Revenue — — — — 857 — — 857 Intersegment — — — 3,259 — 237 (3,496) — Total Revenue $145,789 $108,357 $213,696 $128,054 $178,409 $76,795 ($3,496) $847,604 Nine Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Real Estate Trading Elim. Total September 30, 2020 Pulpwood $74,239 $8,253 $18,545 $555 — $7,527 — $109,119 Sawtimber 55,224 75,255 117,157 14,701 — 57,493 — 319,830 Hardwood 1,752 — — — — — — 1,752 Total Timber Sales 131,215 83,508 135,702 15,256 — 65,020 — 430,701 License Revenue, Primarily from Hunting 13,386 444 200 4 — — — 14,034 Other Non-Timber/Carbon Revenue 2,801 2,179 6,210 19 — — — 11,209 Agency Fee Income — — — — — 327 — 327 Total Non-Timber Sales 16,187 2,623 6,410 23 — 327 — 25,570 Improved Development — — — — 7,771 — — 7,771 Unimproved Development — — — — 8,426 — — 8,426 Rural — — — — 52,876 — — 52,876 Timberland & Non-Strategic — — — — 9,647 — — 9,647 Conservation Easement — — — — 3,099 — — 3,099 Deferred Revenue/Other (a) — — — — (879) — — (879) Large Dispositions — — — — 116,027 — — 116,027 Total Real Estate Sales — — — — 196,967 — — 196,967 Revenue from Contracts with Customers 147,402 86,131 142,112 15,279 196,967 65,347 — 653,238 Lease Revenue — — — — 397 — — 397 Intersegment — — — 2,152 — 158 (2,310) — Total Revenue $147,402 $86,131 $142,112 $17,431 $197,364 $65,505 ($2,310) $653,635 (a) Includes deferred revenue adjustments, revenue true-ups and marketing fees related to Improved Development sales. The following tables present our timber sales disaggregated by contract type for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Trading Total September 30, 2021 Stumpage Pay-as-Cut $12,335 — — $131 — $12,466 Stumpage Lump Sum 392 1,846 — — — 2,238 Total Stumpage 12,727 1,846 — 131 — 14,704 Delivered Wood (Domestic) 19,515 28,404 20,614 6,703 817 76,053 Delivered Wood (Export) 7,043 — 54,694 — 24,325 86,062 Total Delivered 26,558 28,404 75,308 6,703 25,142 162,115 Total Timber Sales $39,285 $30,250 $75,308 $6,834 $25,142 $176,819 September 30, 2020 Stumpage Pay-as-Cut $14,518 — — $754 — $15,272 Stumpage Lump Sum 310 472 — — — 782 Total Stumpage 14,828 472 — 754 — 16,054 Delivered Wood (Domestic) 21,976 27,004 20,127 7,870 362 77,339 Delivered Wood (Export) 5,373 — 39,216 — 21,747 66,336 Total Delivered 27,349 27,004 59,343 7,870 22,109 143,675 Total Timber Sales $42,177 $27,476 $59,343 $8,624 $22,109 $159,729 Nine Months Ended Southern Timber Pacific Northwest Timber New Zealand Timber Timber Funds Trading Total September 30, 2021 Stumpage Pay-as-Cut $48,775 — — $328 — $49,103 Stumpage Lump Sum 5,040 8,909 — — — 13,949 Total Stumpage 53,815 8,909 — 328 — 63,052 Delivered Wood (Domestic) 57,528 95,427 56,970 36,888 3,144 249,957 Delivered Wood (Export) 15,853 — 155,924 — 72,374 244,151 Total Delivered 73,381 95,427 212,894 36,888 75,518 494,108 Total Timber Sales $127,196 $104,336 $212,894 $37,216 $75,518 $557,160 September 30, 2020 Stumpage Pay-as-Cut $56,141 — — $1,285 — $57,426 Stumpage Lump Sum 1,561 5,929 — — — 7,490 Total Stumpage 57,702 5,929 — 1,285 — 64,916 Delivered Wood (Domestic) 64,473 77,579 45,944 13,971 1,296 203,263 Delivered Wood (Export) 9,040 — 89,758 — 63,724 162,522 Total Delivered 73,513 77,579 135,702 13,971 65,020 365,785 Total Timber Sales $131,215 $83,508 $135,702 $15,256 $65,020 $430,701

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Operating Lease, Lease Income	The following table details our lease income for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, Lease Income Components 2021 2020 2021 2020 Operating lease income $344 $324 $857 $397 Total lease income $344 $324 $857 $397

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Noncontrolling Interest in the Operating Partnership and Subsidiaries	The following table sets forth the income attributable to the New Zealand subsidiary’s noncontrolling interests: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Net income attributable to noncontrolling interests in the New Zealand subsidiary $2,006 $2,066 $7,716 $3,326 The following table sets forth the income attributable to the Funds’ noncontrolling interests: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Net income (loss) attributable to noncontrolling interests in the Funds $30,465 ($10,627) $32,929 ($12,773) The following table sets forth the income attributable to Ferncliff Investors’ noncontrolling interests: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Net (loss) income attributable to noncontrolling interests in Ferncliff Investors — ($153) $129 ($199) The following table sets forth the Company’s noncontrolling interests in the Operating Partnership: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Beginning noncontrolling interests in the Operating Partnership $153,505 $110,220 $130,121 — Issuances of Redeemable Operating Partnership Units — — — 106,752 Adjustment of noncontrolling interests in the Operating Partnership (1,746) 8,030 25,531 12,022 Conversions of Redeemable Operating Partnership Units to Common Shares (12,258) (27) (17,214) (27) Net Income (Loss) attributable to noncontrolling interests in the Operating Partnership 2,210 (25) 4,303 195 Other Comprehensive (Loss) Income attributable to noncontrolling interests in the Operating Partnership (92) 532 1,187 989 Distributions to noncontrolling interests in the Operating Partnership (1,064) (1,200) (3,373) (2,401) Total noncontrolling interests in the Operating Partnership $140,555 $117,530 $140,555 $117,530

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The assets, liabilities and equity of Fund II as of September 30, 2021, were as follows: Timber Funds September 30, 2021 Assets: Cash and cash equivalents $12,202 Restricted Cash, Timber Funds ( Note 22 ) 49,209 Accounts receivable 513 Assets held for sale ( Note 23 ) (a) 54,926 Other current assets 79 Total current assets 116,929 Other assets 23 Total assets $116,952 Liabilities and Equity: Accounts payable $547 Intercompany payable (b) 160 Accrued taxes 71 Deferred revenue 164 Distribution payable, Timber Funds (c) 49,209 Other current liabilities 36 Total current liabilities 50,187 Funds’ equity 66,765 Total liabilities and equity $116,952 (a) Included in assets held for sale are timber and timberland assets. (b) Includes management fees and other expenses payable to the Operating Partnership. These amounts are eliminated in the Consolidated Balance Sheets. (c) Represents the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. The assets, liabilities and equity of Ferncliff Investors as of September 30, 2021, were as follows: Ferncliff Investors September 30, 2021 Assets: Cash and cash equivalents $391 Total current assets 391 Advances to real estate joint venture entity 1,000 Total assets $1,391 Liabilities and Equity: Total liabilities $1,897 Ferncliff Investors’ equity (506) Total liabilities and equity $1,391

EARNINGS (LOSS) PER SHARE AND_2

EARNINGS (LOSS) PER SHARE AND PER UNIT (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share and Per Unit, Basic and Diluted	The following table provides details of the calculations of basic and diluted earnings (loss) per common share of the Company: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Earnings (Loss) per common share - basic Numerator: Net Income (Loss) $110,512 ($9,498) $188,963 $17,378 Less: Net (income) loss attributable to noncontrolling interests in the Operating Partnership (2,210) 25 (4,303) (195) Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647 Net income (loss) attributable to Rayonier Inc. $75,831 ($758) $143,885 $26,830 Denominator: Denominator for basic earnings (loss) per common share - weighted average shares 141,777,574 136,351,271 139,749,358 132,948,124 Basic earnings (loss) per common share attributable to Rayonier Inc.: $0.53 ($0.01) $1.03 $0.20 Earnings (Loss) per common share - diluted Numerator: Net Income (loss) $110,512 ($9,498) $188,963 $17,378 Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647 Less: Net loss attributable to noncontrolling interests in the Operating Partnership — (a) 25 (a) — — Net income (loss) attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership $78,041 ($758) $148,188 $27,025 Denominator: Denominator for basic earnings (loss) per common share - weighted average shares 141,777,574 136,351,271 139,749,358 132,948,124 Add: Dilutive effect of: Stock options 9,803 — 8,833 492 Performance shares, restricted shares and restricted stock units 520,737 — 361,596 159,018 Noncontrolling interests in Redeemable Operating Partnership Units 4,131,454 — (a) 4,245,323 2,352,822 Denominator for diluted earnings per common share - adjusted weighted average shares 146,439,568 136,351,271 144,365,110 135,460,456 Diluted earnings (loss) per common share attributable to Rayonier Inc.: $0.53 ($0.01) $1.03 $0.20 (a) For the three months ended September 30, 2020, net loss attributable to noncontrolling interests in the Operating Partnership was included in the numerator for diluted earnings (loss) per share as the Company generated a net loss attributable to Rayonier Inc. during the quarter. Also, as a result of the net loss attributable to Rayonier Inc. during the three months ended September 30, 2020, the incremental shares related to noncontrolling interests in Redeemable Operating Partnership Units were excluded from the denominator of diluted loss per share. The following table provides details of the calculations of basic and diluted earnings (loss) per unit of the Operating Partnership: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Earnings (loss) per unit - basic Numerator: Net Income (Loss) $110,512 ($9,498) $188,963 $17,378 Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647 Net income (loss) available to unitholders $78,041 ($783) $148,188 $27,025 Denominator: Denominator for basic earnings (loss) per unit - weighted average units 145,909,028 140,797,217 143,994,681 135,300,946 Basic earnings (loss) per unit attributable to Rayonier, L.P.: $0.53 ($0.01) $1.03 $0.20 Earnings (Loss) per unit - diluted Numerator: Net Income (Loss) $110,512 ($9,498) $188,963 $17,378 Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates (32,471) 8,715 (40,775) 9,647 Net income (loss) available to unitholders $78,041 ($783) $148,188 $27,025 Denominator: Denominator for basic earnings (loss) per unit - weighted average units 145,909,028 140,797,217 143,994,681 135,300,946 Add: Dilutive effect of unit equivalents: Stock options 9,803 — 8,833 492 Performance shares, restricted shares and restricted stock units 520,737 — 361,596 159,018 Denominator for diluted earnings (loss) per unit - adjusted weighted average units 146,439,568 140,797,217 144,365,110 135,460,456 Diluted earnings (loss) per unit attributable to Rayonier, L.P.: $0.53 ($0.01) $1.03 $0.20
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share and Per Unit	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive shares excluded from the computations of diluted earnings (loss) per common share: Stock options, performance shares, restricted shares, restricted stock units and noncontrolling interests in Redeemable Operating Partnership Units (a) 100,135 5,038,514 167,668 471,999 Total 100,135 5,038,514 167,668 471,999 (a) For the three months ended September 30, 2020, the incremental shares related to stock options, performance shares, restricted shares, restricted stock units and noncontrolling interests in Redeemable Operating Partnership Units were not included in the computation of diluted loss per share as their inclusion would have had an anti-dilutive effect. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive unit equivalents excluded from the computations of diluted earnings (loss) per unit: Stock options, performance shares, restricted shares and restricted stock units (a) 100,135 592,568 167,668 471,999 Total 100,135 592,568 167,668 471,999 (a) For the three months ended September 30, 2020, the incremental unit equivalents related to stock options, performance shares, restricted shares and restricted stock units were not included in the computation of diluted loss per unit as their inclusion would have had an anti-dilutive effect.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Our debt consisted of the following at September 30, 2021: September 30, 2021 Debt, excluding Timber Funds: Term Credit Agreement borrowings due 2028 at a variable interest rate of 1.7% at September 30, 2021 (a) $350,000 Senior Notes due 2022 at a fixed interest rate of 3.75% 325,000 Senior Notes due 2031 at a fixed interest rate of 2.75% 450,000 Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 1.7% at September 30, 2021 (b) 200,000 New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95% 23,739 New Zealand subsidiary noncontrolling interests shareholder loan due 2026 at a fixed interest rate of 3.64% 27,696 Total principal debt, excluding Timber Funds 1,376,435 Less: Unamortized discounts, excluding Timber Funds (3,505) Less: Current maturities of long-term debt, excluding Timber Funds (199,887) Less: Deferred financing costs, excluding Timber Funds (5,076) Total long-term debt, excluding Timber Funds 1,167,967 Total long-term debt, Timber Funds — Total long-term debt $1,167,967 (a) As of September 30, 2021, the periodic interest rate on the term credit agreement (the “Term Credit Agreement”) was LIBOR plus 1.600%. We estimate the effective fixed interest rate on the term loan facility to be approximately 3.1% after consideration of interest rate swaps and estimated patronage refunds. (b) As of September 30, 2021, the periodic interest rate on the incremental term loan (the “Incremental Term Loan Agreement”) was LIBOR plus 1.650%. We estimate the effective fixed interest rate on the incremental term loan facility to be approximately 2.4% after consideration of interest rate swaps and estimated patronage refunds.
Schedule of Maturities of Long-Term Debt	Principal payments due during the next five years and thereafter are as follows: Excluding Timber Funds Timber Funds Total 2021 — — — 2022 325,000 — 325,000 2023 — — — 2024 — — — 2025 23,739 — 23,739 Thereafter 1,027,696 — 1,027,696 Total Debt $1,376,435 — $1,376,435
Schedule of Debt Covenants	The covenants listed below, which are the most significant financial covenants in effect as of September 30, 2021, are calculated on a trailing 12-month basis: Covenant Requirement Actual Ratio Favorable Covenant EBITDA to consolidated interest expense should not be less than 2.5 to 1 11.6 to 1 9.1 Covenant debt to covenant net worth plus covenant debt shall not exceed 65 % 44 % 21 %

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The following table contains information on the outstanding interest rate swaps as of September 30, 2021: Outstanding Interest Rate Swaps (a) Date Entered Into Term Notional Amount Related Debt Facility Fixed Rate of Swap Bank Margin on Debt Total Effective Interest Rate (b) August 2015 9 years $170,000 Term Credit Agreement 2.20 % 1.60 % 3.80 % August 2015 9 years 180,000 Term Credit Agreement 2.35 % 1.60 % 3.95 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.65 % 3.25 % April 2016 10 years 100,000 Incremental Term Loan 1.60 % 1.65 % 3.25 % (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. The following table contains information on the outstanding forward-starting interest rate swaps as of September 30, 2021: Outstanding Forward-Starting Interest Rate Swaps (a) Date Entered Into Term Notional Amount Fixed Rate of Swap Related Debt Facility Forward Date Maximum Period Ending for Forecasted Issuance Date March 2020 4 years $100,000 0.88 % Term Credit Agreement August 2024 N/A May 2020 4 years 50,000 0.74 % Term Credit Agreement August 2024 N/A May 2021 (b) 7 years 200,000 0.77 % Future Issuance Feb. 2022 N/A (a) All forward-starting interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting. (b) The forward-starting interest rate swap entered into in May 2021 contained an embedded mark-to-market gain, which we recovered through a reduced charge in the fixed rate over what would have been charged for an at-market swap.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following tables demonstrate the impact, gross of tax, of our derivatives on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Income Statement Location 2021 2020 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive (loss) income ($2,618) $1,946 Foreign currency option contracts Other comprehensive (loss) income (356) 358 Interest rate products Other comprehensive (loss) income 1,288 2,417 Interest expense 2,564 3,783 Nine Months Ended Income Statement Location 2021 2020 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other comprehensive (loss) income ($6,366) $1,806 Foreign currency option contracts Other comprehensive (loss) income (1,514) 85 Interest rate products Other comprehensive (loss) income 46,433 (91,203) Interest expense 11,935 6,951 Derivatives not designated as hedging instruments: Carbon option contracts Interest and other miscellaneous income (expense), net — 563 Amount expected to be reclassified into earnings in next 12 months Derivatives designated as cash flow hedges: Foreign currency exchange contracts $139 Interest rate products (11,842) Total estimated loss on derivatives contracts ($11,703)
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets: Notional Amount September 30, 2021 December 31, 2020 Derivatives designated as cash flow hedges: Foreign currency exchange contracts $144,000 $49,000 Foreign currency option contracts — 28,000 Interest rate swaps 550,000 900,000 Forward-starting interest rate swaps 350,000 475,000
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets: Location on Balance Sheet Fair Value Assets / (Liabilities) (a) September 30, 2021 December 31, 2020 Derivatives designated as cash flow hedges: Foreign currency exchange contracts Other current assets $1,892 $4,968 Other assets 7 1,050 Other current liabilities (1,699) — Other non-current liabilities (549) — Foreign currency option contracts Other current assets — 1,526 Other current liabilities — (11) Interest rate swaps Other non-current liabilities (24,178) (51,580) Forward-starting interest rate swaps Other assets 11,206 513 Other non-current liabilities — (13,042) Total derivative contracts: Other current assets $1,892 $6,494 Other assets 11,213 1,563 Total derivative assets $13,105 $8,057 Other current liabilities (1,699) (11) Other non-current liabilities (24,727) (64,622) Total derivative liabilities ($26,426) ($64,633) (a) See Note 11 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, by Balance Sheet Grouping	The following table presents the carrying amount and estimated fair values of our financial instruments as of September 30, 2021 and December 31, 2020, using market information and what we believe to be appropriate valuation methodologies under GAAP: September 30, 2021 December 31, 2020 Asset (Liability) (a) Carrying Fair Value Carrying Fair Value Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents, excluding Timber Funds $419,604 $419,604 — $80,454 $80,454 — Cash and cash equivalents, Timber Funds 12,202 12,202 — 4,053 4,053 — Restricted cash, Timber Funds (b) 49,209 49,209 — — — — Restricted cash, excluding Timber Funds (c) 625 625 — 2,975 2,975 — Current maturities of long-term debt, excluding Timber Funds (d) (199,887) — (201,440) — — — Long-term debt, excluding Timber Funds (d) (1,167,967) — (1,173,657) (1,300,336) — (1,313,631) Long-term debt, Timber Funds (d) — — — (60,179) — (60,474) Interest rate swaps (e) (24,178) — (24,178) (51,580) — (51,580) Forward-starting interest rate swaps (e) 11,206 — 11,206 (12,529) — (12,529) Foreign currency exchange contracts (e) (349) — (349) 6,018 — 6,018 Foreign currency option contracts (e) — — — 1,515 — 1,515 Noncontrolling Interests in the Operating Partnership (f) 140,555 140,555 — 130,121 130,121 — (a) We did not have Level 3 assets or liabilities at September 30, 2021 and December 31, 2020. (b) Restricted cash, Timber Funds represents the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. See Note 22 — Restricted Cash for additional information. (c) Restricted cash, excluding Timber Funds represents cash held in escrow. See Note 22 — Restricted Cash for additional information. (d) The carrying amount of long-term debt is presented net of deferred financing costs, unamortized discounts and fair value adjustments on non-revolving debt. See Note 9 — Debt for additional information. (e) See Note 10 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets classification of our derivative financial instruments.

COMMITMENTS (Tables)

COMMITMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	At September 30, 2021, the future minimum payments under non-cancellable commitments were as follows: Environmental Remediation (a) Development Projects (b) Commitments (c) Total Remaining 2021 $255 $11,113 $3,328 $14,696 2022 1,534 13,695 14,254 29,483 2023 3,188 267 12,449 15,904 2024 3,188 267 9,366 12,821 2025 519 267 5,534 6,320 Thereafter 2,266 3,916 8,242 14,424 $10,950 $29,525 $53,173 $93,648 (a) Environmental remediation represents our estimate of potential liability associated with environmental contamination and Natural Resource Damages (NRD) in Port Gamble, Washington. See Note 14 - Environmental and Natural Resource Damage Liabilities for additional information. (b) Primarily consisting of payments expected to be made on our Wildlight and Richmond Hill development projects.

ENVIRONMENTAL AND NATURAL RES_2

ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Environmental Remediation Obligations [Abstract]
Schedule of Environmental Loss Contingencies by Site	Changes in environmental and NRD liabilities from December 31, 2020 to September 30, 2021 are shown below: Port Gamble, WA Non-current portion at December 31, 2020 $10,615 Plus: Current portion 1,026 Total Balance at December 31, 2020 11,641 Expenditures charged to liabilities (762) Increase to liabilities 71 Total Balance at September 30, 2021 10,950 Less: Current portion (1,095) Non-current portion at September 30, 2021 $9,855

GUARANTEES (Tables)

GUARANTEES (Tables)	9 Months Ended
	Sep. 30, 2021
Guarantees [Abstract]
Schedule of Guarantor Obligations	As of September 30, 2021, the following financial guarantees were outstanding: Financial Commitments (a) Maximum Potential Standby letters of credit $885 Surety bonds (b) 12,429 Total financial commitments $13,314 (a) We have not recorded any liabilities for these financial commitments in our Consolidated Balance Sheets. The guarantees are not subject to measurement, as the guarantees are dependent on our own performance. (b) Surety bonds are issued primarily to secure performance obligations related to various operational activities, to provide collateral for our Wildlight development project in Nassau County, Florida and in connection with pending and completed sales from the Harbor Hill project in Gig Harbor, Washington. These surety bonds expire at various dates during 2021, 2022, 2023 and 2024 and are expected to be renewed as required.

HIGHER AND BETTER USE TIMBERL_2

HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Real Estate [Abstract]
Schedule of Costs for Land, Timber and Real Estate Development	Changes in higher and better use timberlands and real estate development investments from December 31, 2020 to September 30, 2021 are shown below: Higher and Better Use Timberlands and Real Estate Development Investments Land and Timber Development Investments Total Non-current portion at December 31, 2020 $79,901 $28,617 $108,518 Plus: Current portion (a) 212 6,544 6,756 Total Balance at December 31, 2020 80,113 35,161 115,274 Non-cash cost of land and improved development (11,566) (6,956) (18,522) Amortization of parcel real estate development investments — (4,518) (4,518) Timber depletion from harvesting activities and basis of timber sold in real estate sales (948) — (948) Capitalized real estate development investments (b) — 16,871 16,871 Capital expenditures (silviculture) 76 — 76 Intersegment transfers 8,179 — 8,179 Purchase price allocation adjustment (c) 8,238 — 8,238 Total Balance at September 30, 2021 84,092 40,558 124,650 Less: Current portion (a) (601) (13,457) (14,058) Non-current portion at September 30, 2021 $83,491 $27,101 $110,592 (a) The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 17 — Inventory for additional information. (b) Capitalized real estate development investments include $0.4 million of capitalized interest and $7.7 million of parcel real estate development investments. Parcel real estate development investments represent investments made for specific lots and/or commercial parcels that are currently under contract or expected to be ready for market within a year. (c) Reflects measurement period adjustments on HBU properties acquired in the merger with Pope Resources. The final allocation of fair value to HBU properties acquired in the merger is approximately $34.7 million. This includes development properties in the town of Port Gamble, Washington, development projects in Gig Harbor, Kingston, and Bremerton, Washington and various other assets. See Note 2 - Merger with Pope Resources for additional information.

INVENTORY (Tables)

INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	As of September 30, 2021 and December 31, 2020, our inventory consisted entirely of finished goods, as follows: September 30, 2021 December 31, 2020 Finished goods inventory Real estate inventory (a) $14,058 $6,756 Log inventory 4,534 3,838 Total inventory $18,592 $10,594 (a) Represents the cost of HBU real estate (including capitalized development investments) under contract to be sold. See Note 16 — Higher And Better Use Timberlands and Real Estate Development Investments for additional information.

OTHER OPERATING INCOME (EXPEN_2

OTHER OPERATING INCOME (EXPENSE), NET (Tables)	9 Months Ended
	Sep. 30, 2021
Other Income and Expenses [Abstract]
Other Operating (Expense) Income	Other operating income (expense), net consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Gain (loss) on foreign currency remeasurement, net of cash flow hedges $1,379 ($976) $5,730 ($2,263) Gain on sale or disposal of property and equipment — 19 93 26 Gain on investment in Timber Funds (a) 3,729 — 3,729 — Log trading marketing fees — — 6 50 Costs related to the merger with Pope Resources (b) — (430) — (16,415) Equity income (loss) related to Bainbridge Landing LLC joint venture (c) 36 (214) 241 (273) Miscellaneous expense, net (74) (52) (325) (372) Total $5,070 ($1,653) $9,474 ($19,247) (a) See Note 6 - Noncontrolling Interests and Note 7 - Variable Interest Entities for additional information on Timber Funds. (b) Includes legal, accounting, due diligence, consulting and other costs related to the merger with Pope Resources. See Note 2 - Merger with Pope Resources and Note 24 - Charges for Integration and Restructuring for additional information. (c) See Note 6 - Noncontrolling Interests and Note 7 - Variable Interest Entities for additional information on Ferncliff Investors.

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Components of Net Periodic Benefit (Credit) Cost	The net pension and postretirement benefit (credits) costs that have been recorded are shown in the following table: Components of Net Periodic Benefit (Credit) Cost Income Statement Location Pension Postretirement Three Months Ended Three Months Ended 2021 2020 2021 2020 Service cost Selling and general expenses — — $2 $2 Interest cost Interest and other miscellaneous income (expense), net 557 677 11 13 Expected return on plan assets (a) Interest and other miscellaneous income (expense), net (936) (876) — — Amortization of losses Interest and other miscellaneous income (expense), net 288 215 5 2 Net periodic benefit (credit) cost ($91) $16 $18 $17 Components of Net Periodic Benefit (Credit) Cost Income Statement Location Pension Postretirement Nine Months Ended Nine Months Ended 2021 2020 2021 2020 Service cost Selling and general expenses — — $6 $5 Interest cost Interest and other miscellaneous income (expense), net 1,671 2,029 34 38 Expected return on plan assets (a) Interest and other miscellaneous income (expense), net (2,809) (2,628) — — Amortization of losses Interest and other miscellaneous income (expense), net 865 646 15 6 Net periodic benefit (credit) cost ($273) $47 $55 $49 (a) The weighted-average expected long-term rate of return on plan assets used in computing 2021 net periodic benefit cost for pension benefit s i s 5.7%.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	The following table contains the income tax expense recognized on the Consolidated Statements of Income and Comprehensive Income: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Income tax expense ($2,811) ($720) ($13,114) ($7,416)
Schedule of Effective Income Tax Rate Reconciliation	The following table contains the Company’s annualized effective tax rate after discrete items: Nine Months Ended 2021 2020 Annualized effective tax rate after discrete items 6.4 % 29.9 %

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in AOCI by component for the nine months ended September 30, 2021 and the year ended December 31, 2020. All amounts are presented net of tax and exclude portions attributable to noncontrolling interests. Foreign currency translation (loss) gains Net investment hedges of New Zealand subsidiary Cash flow hedges Employee benefit plans Total Rayonier, L.P. Allocation to Operating Partnership Total Rayonier Inc. Balance as of December 31, 2019 ($226) $1,321 ($8,910) ($23,387) ($31,202) — ($31,202) Other comprehensive income (loss) before reclassifications 22,928 — (71,644) (1,794) (50,510) — (50,510) Amounts reclassified from accumulated other comprehensive loss — — 9,498 869 (b) 10,367 (2,540) 7,827 Net other comprehensive income (loss) 22,928 — (62,146) (925) (40,143) (2,540) (42,683) Balance as of December 31, 2020 $22,702 $1,321 ($71,056) ($24,312) ($71,345) ($2,540) ($73,885) Other comprehensive (loss) income before reclassifications (16,369) — 40,125 (a) — 23,756 — 23,756 Amounts reclassified from accumulated other comprehensive loss — — 13,874 881 (b) 14,755 (1,186) 13,569 Net other comprehensive (loss) income (16,369) — 53,999 881 38,511 (1,186) 37,325 Balance as of $6,333 $1,321 ($17,057) ($23,431) ($32,834) ($3,726) ($36,560) (a) Includes $46.4 million of other comprehensive income related to interest rate swaps and forward-starting interest rate swaps. See Note 10 — Derivative Financial Instruments and Hedging Activities for additional information. (b) This component of other comprehensive (loss) income is included in the computation of net periodic pension and post-retirement costs. See Note 19 — Employee Benefit Plans
Reclassification Out of Accumulated Other Comprehensive Income	The following table presents details of the amounts reclassified in their entirety from AOCI to net income for the nine months ended September 30, 2021 and September 30, 2020: Details about accumulated other comprehensive income (loss) components Amount reclassified from accumulated other comprehensive income (loss) Affected line item in the income statement September 30, 2021 September 30, 2020 Realized loss (gain) on foreign currency exchange contracts $2,322 ($2,568) Other operating income (expense), net Realized loss on foreign currency option contracts 1,177 (15) Other operating income (expense), net Noncontrolling interests (805) 594 Comprehensive (loss) income attributable to noncontrolling interests Realized loss on interest rate contracts 11,935 6,951 Interest expense Income tax effect from net (loss) gain on foreign currency contracts (755) 557 Income tax expense Net loss from accumulated other comprehensive income $13,874 $5,519

RESTRICTED CASH (Tables)

RESTRICTED CASH (Tables)	9 Months Ended
	Sep. 30, 2021
Restricted Cash and Investments [Abstract]
Schedule of Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 2020 Cash and cash equivalents $431,806 $78,151 Restricted cash, Timber Funds 49,209 — Restricted cash, excluding Timber Funds (Held in escrow) 625 475 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $481,640 $78,626
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 2020 Cash and cash equivalents $431,806 $78,151 Restricted cash, Timber Funds 49,209 — Restricted cash, excluding Timber Funds (Held in escrow) 625 475 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $481,640 $78,626

CHARGES FOR INTEGRATION AND R_2

CHARGES FOR INTEGRATION AND RESTRUCTURING (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Schedule of Integration and Restructuring Related Cost	A summary of the charges for integration and restructuring related to the merger with Pope Resources is presented below: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Termination benefits — $70 — $651 Acceleration of share-based compensation related to qualifying terminations — 92 — 324 Professional services — 239 — 13,553 Other integration and restructuring costs — 29 — 1,887 Total integration and restructuring charges related to the merger with Pope Resources — $430 — $16,415

RELATED PARTY (Tables)

RELATED PARTY (Tables)	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions on Consolidated Statements of Income and Comprehensive Income	The following table demonstrates the impact, gross of tax, of our related party transactions on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended: Three Months Ended September 30, Nine Months Ended September 30, Related Party Transaction Location on Statement of Income and Comprehensive Income 2021 2020 2021 2020 Mattamy Contract Sales $1,022 — $2,510 —

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) a in Thousands, $ in Millions	Sep. 30, 2021USD ($)a	May 08, 2020afund	Sep. 30, 2021USD ($)a	Nov. 01, 2021USD ($)a	Oct. 05, 2021USD ($)a	Jul. 21, 2021USD ($)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Properties Under Contract
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Area of land	13		13
Variable Interest Entity, Primary Beneficiary | ORM Timber Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of timber funds | fund		3
Area of land		141
Operating Partnership
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership interest	97.30%
Ownership interest owned by limited partners	2.70%
ORM Timber Fund II | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Fund II Timberland Dispositions | Timber Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Area of land	13		13
Aggregate purchase price | $	$ 87.1		$ 87.1
ORM Timber Fund II | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Properties Under Contract | Subsequent event | Timber Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Area of land				13	5
Aggregate purchase price | $				$ 32.5	$ 37.2
ORM Timber Fund II | Variable Interest Entity, Primary Beneficiary | ORM Timber Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership interest	20.00%		20.00%
ORM Timber Fund III | Variable Interest Entity, Primary Beneficiary | ORM Timber Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership interest		5.00%
ORM Timber Fund IV | Variable Interest Entity, Primary Beneficiary | ORM Timber Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership interest		15.00%
ORM Timber Fund III And IV | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Fund III And IV Timberland Dispositions | Timber Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Aggregate purchase price | $						$ 35.9

MERGER WITH POPE RESOURCES - Na

MERGER WITH POPE RESOURCES - Narrative (Details) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	May 08, 2020fund
Business Acquisition [Line Items]
Costs related to the merger with Pope Resources	$ 0	$ 430			$ 0	$ 16,415
Net (loss) income	$ 110,512	(9,498)			188,963	17,378
Merger with Pope Resources
Business Acquisition [Line Items]
Number of timber funds acquired | fund							3
Costs related to the merger with Pope Resources		400	$ 13,500	$ 2,500
Increase in higher and better use timberlands from purchase price allocation					8,200
Increase (decrease) in timber and timberlands					1,100
Merger with Pope Resources | Acquisition-related Transaction Costs
Business Acquisition [Line Items]
Net (loss) income		$ 400				$ 31,600
Core Timberlands
Business Acquisition [Line Items]
Increase (decrease) in timber and timberlands					(15,500)
Timber Funds
Business Acquisition [Line Items]
Increase (decrease) in timber and timberlands					$ 16,600

MERGER WITH POPE RESOURCES - Su

MERGER WITH POPE RESOURCES - Summary of Consideration Transferred (Details) - Merger with Pope Resources - USD ($) $ in Thousands	May 08, 2020	May 07, 2020
Business Acquisition [Line Items]
Cash consideration	$ 247,318
Equity consideration	172,640
Redeemable Operating Partnership Unit consideration	106,752
Fair value of Pope Resources units held by us		$ 11,211
Total purchase price	$ 537,921

MERGER WITH POPE RESOURCES - Sc

MERGER WITH POPE RESOURCES - Schedule of Depletion (Details) - Merger with Pope Resources $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Business Acquisition [Line Items]
Depletion	$ (1,384)
Operating Segments | Pacific Northwest Timber
Business Acquisition [Line Items]
Depletion	(182)
Operating Segments | Timber Funds
Business Acquisition [Line Items]
Depletion	$ (1,202)

MERGER WITH POPE RESOURCES - Fa

MERGER WITH POPE RESOURCES - Fair Value of Identifiable Assets Acquired and Liabilities Assumed (Details) $ in Thousands	May 08, 2020USD ($)
Merger with Pope Resources
Restructuring Cost and Reserve [Line Items]
Cash	$ 16,250
Accounts receivable	4,246
Other current assets	963
Timber and Timberlands	947,703
Higher and Better Use Timberlands and Real Estate Development Investments	34,748
Property, plant and equipment	11,616
Other assets (a)	5,931
Total identifiable assets acquired	1,021,457
Accounts payable	567
Current maturities of long-term debt	25,084
Accrued interest	519
Other current liabilities	11,118
Long-term debt	89,261
Long-term environmental liabilities	10,748
Other non-current liabilities	3,185
Total liabilities assumed	140,482
Net identifiable assets	880,975
Less: noncontrolling interests	(343,054)
Total net assets acquired	537,921
Intangible assets	1,900
Deferred income tax liability	3,200
Core Timberlands
Restructuring Cost and Reserve [Line Items]
Cash	7,380
Accounts receivable	2,459
Other current assets	703
Timber and Timberlands	498,630
Higher and Better Use Timberlands and Real Estate Development Investments	34,748
Property, plant and equipment	11,616
Other assets (a)	3,737
Total identifiable assets acquired	559,273
Accounts payable	274
Current maturities of long-term debt	0
Accrued interest	244
Other current liabilities	9,038
Long-term debt	53,502
Long-term environmental liabilities	10,748
Other non-current liabilities	2,724
Total liabilities assumed	76,530
Net identifiable assets	482,743
Less: noncontrolling interests	(3,816)
Total net assets acquired	478,927
Timber Funds
Restructuring Cost and Reserve [Line Items]
Cash	8,870
Accounts receivable	1,787
Other current assets	260
Timber and Timberlands	449,073
Higher and Better Use Timberlands and Real Estate Development Investments	0
Property, plant and equipment	0
Other assets (a)	2,194
Total identifiable assets acquired	462,184
Accounts payable	293
Current maturities of long-term debt	25,084
Accrued interest	275
Other current liabilities	2,080
Long-term debt	35,759
Long-term environmental liabilities	0
Other non-current liabilities	461
Total liabilities assumed	63,952
Net identifiable assets	398,232
Less: noncontrolling interests	(339,238)
Total net assets acquired	$ 58,994

MERGER WITH POPE RESOURCES - _2

MERGER WITH POPE RESOURCES - Schedule of Unaudited Pro Forma Information (Details) - Merger with Pope Resources - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Business Acquisition [Line Items]
Sales	$ 198,975	$ 684,900
Net income attributable to Rayonier Inc.	$ (1,110)	$ 25,800
Basic earnings per share/unit (in dollars per share/unit)	$ (0.01)	$ 0.19
Diluted earnings per share/unit (in dollars per share/unit)	$ (0.01)	$ 0.19
Rayonier Limited Partnership
Business Acquisition [Line Items]
Net income attributable to Rayonier Inc.	$ (1,147)	$ 26,648
Basic earnings per share/unit (in dollars per share/unit)	$ (0.01)	$ 0.19
Diluted earnings per share/unit (in dollars per share/unit)	$ (0.01)	$ 0.19

SEGMENT AND GEOGRAPHICAL INFO_3

SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Segment Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
SALES	$ 364,726	$ 198,875	$ 847,604	$ 653,635
Timber Funds, Portion Attributable To Noncontrolling Interests
Segment Reporting Information [Line Items]
SALES	75,400	7,700	102,100	13,500
Timber Funds, Portion Attributable To Noncontrolling Interests | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
SALES	69,700		69,700
Timber Funds, Portion Attributable To Parent | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
SALES	17,400		17,400
Real Estate
Segment Reporting Information [Line Items]
Threshold to be considered a large disposition transaction			20,000
Real Estate | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
SALES	20,000		56,000	116,000
Intersegment Eliminations
Segment Reporting Information [Line Items]
SALES	(590)	(1,366)	(3,496)	(2,310)
Operating Segments | Southern Timber
Segment Reporting Information [Line Items]
SALES	44,818	47,653	145,789	147,402
Operating Segments | Pacific Northwest Timber
Segment Reporting Information [Line Items]
SALES	31,513	28,885	108,357	86,131
Operating Segments | New Zealand Timber
Segment Reporting Information [Line Items]
SALES	75,558	62,804	213,696	142,112
Operating Segments | Timber Funds
Segment Reporting Information [Line Items]
SALES	94,469	9,907	128,054	17,431
Operating Segments | Real Estate
Segment Reporting Information [Line Items]
SALES	93,375	28,791	178,409	197,364
Operating Segments | Trading
Segment Reporting Information [Line Items]
SALES	25,583	22,201	76,795	65,505
Intersegment Eliminations | Timber Funds
Segment Reporting Information [Line Items]
SALES	499	1,274	3,259	2,152
Intersegment Eliminations | Trading
Segment Reporting Information [Line Items]
SALES	91	92	237	158
Intersegment Eliminations | Intersegment Eliminations
Segment Reporting Information [Line Items]
SALES	$ (590)	$ (1,366)	$ (3,496)	$ (2,310)

SEGMENT AND GEOGRAPHICAL INFO_4

SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Operating Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Total Operating Income	$ 123,314	$ 1,780	$ 236,242	$ 52,019
Unallocated interest expense and other	(9,991)	(10,558)	(34,165)	(27,225)
Total Income before Income Taxes	113,323	(8,778)	202,077	24,794
Integration and restructuring charges	0	430	0	16,415
Merger with Pope Resources
Segment Reporting Information [Line Items]
Integration and restructuring charges		400		16,400
Fund II Timberland Dispositions
Segment Reporting Information [Line Items]
Gain on sale			35,951	0
Southern Timber
Segment Reporting Information [Line Items]
Timber write-offs from casualty events		6,000		6,000
Timber Funds, Portion Attributable To Noncontrolling Interests
Segment Reporting Information [Line Items]
Total Operating Income	30,500	(10,300)	33,300	(12,300)
Timber write-offs from casualty events		7,300		7,300
Timber Funds, Portion Attributable To Noncontrolling Interests | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
Gain on sale	28,800		28,800
Timber Funds, Portion Attributable To Parent
Segment Reporting Information [Line Items]
Timber write-offs from casualty events		1,800		1,800
Timber Funds, Portion Attributable To Parent | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
Gain on sale	7,200
Timber Funds, Portion Attributable To Parent | Fund III And IV Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
Gain on sale			3,700
Real Estate | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
Total Operating Income	14,500		44,800	28,700
Operating Segments | Southern Timber
Segment Reporting Information [Line Items]
Total Operating Income	12,778	5,090	47,105	31,368
Operating Segments | Pacific Northwest Timber
Segment Reporting Information [Line Items]
Total Operating Income	2,071	(1,825)	5,293	(9,453)
Operating Segments | New Zealand Timber
Segment Reporting Information [Line Items]
Total Operating Income	13,302	10,720	47,959	21,142
Operating Segments | Timber Funds
Segment Reporting Information [Line Items]
Total Operating Income	41,285	(12,370)	44,778	(14,262)
Operating Segments | Real Estate
Segment Reporting Information [Line Items]
Total Operating Income	60,617	9,459	112,816	61,081
Operating Segments | Trading
Segment Reporting Information [Line Items]
Total Operating Income	(33)	(557)	628	(474)
Corporate and Other
Segment Reporting Information [Line Items]
Total Operating Income	$ (6,706)	$ (8,737)	$ (22,337)	$ (37,383)

SEGMENT AND GEOGRAPHICAL INFO_5

SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Depreciation, Depletion and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	$ 78,909	$ 43,283	$ 171,652	$ 154,851
Timber Funds, Portion Attributable To Noncontrolling Interests
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	34,400	3,700	44,400	7,200
Timber Funds, Portion Attributable To Noncontrolling Interests | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	32,500		32,500
Timber Funds, Portion Attributable To Parent | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	8,100		8,100
Real Estate | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	5,000		9,800	35,400
Operating Segments | Southern Timber
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	11,604	14,954	39,539	48,368
Operating Segments | Pacific Northwest Timber
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	10,479	10,912	38,795	32,221
Operating Segments | New Zealand Timber
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	6,555	7,345	20,757	17,062
Operating Segments | Timber Funds
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	43,158	4,170	54,780	8,239
Operating Segments | Real Estate
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	6,797	5,527	16,889	47,950
Corporate and Other
Segment Reporting Information [Line Items]
DEPRECIATION, DEPLETION AND AMORTIZATION	$ 316	$ 375	$ 892	$ 1,011

SEGMENT AND GEOGRAPHICAL INFO_6

SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Non-Cash Cost of Land and Improved Development (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	$ 24,480	$ 7,259	$ 31,548	$ 72,340
Timber Funds
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	8,635	0	8,635	0
Timber Funds | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	8,600		8,600
Timber Funds, Portion Attributable To Noncontrolling Interests | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	6,900		6,900
Timber Funds, Portion Attributable To Parent | Fund II Timberland Dispositions | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	1,700		1,700
Real Estate
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT	$ 15,845	$ 7,259	22,913	72,340
Real Estate | Disposal Group, Not Discontinued Operations
Segment Reporting Information [Line Items]
NON-CASH COST OF LAND AND IMPROVED DEVELOPMENT			$ 100	$ 51,600

REVENUE REMAINING PERFORMANCE O

REVENUE REMAINING PERFORMANCE OBLIGATION - Narrative (Details)	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected to Satisfaction, period	12 months

REVENUE - Contract Liability (D

REVENUE - Contract Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized from contract liability balance at the beginning of the year	$ 235	$ 690	$ 10,204	$ 10,296

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	$ 364,382	$ 198,551	$ 846,747	$ 653,238
Lease Revenue	344	324	857	397
Total Revenue	364,726	198,875	847,604	653,635
Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	38,208	34,728	116,340	109,119
Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	138,364	124,241	438,900	319,830
Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	247	760	1,920	1,752
Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	176,819	159,729	557,160	430,701
License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	5,058	4,767	14,347	14,034
Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	2,024	5,588	9,548	11,209
Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	350		1,040	327
Fund II Timberland Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	87,100		87,100
Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	94,532	10,355	112,035	25,570
Improved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	27,774	1,344	47,366	7,771
Unimproved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	37,500	0	37,500	8,426
Rural
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,937	23,245	36,999	52,876
Timberland & Non-Strategic
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	44	42	44	9,647
Conservation Easement
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers		3,099	3,855	3,099
Deferred Revenue/Other
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	728	737	(4,260)	(879)
Large Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	20,048		56,048	116,027
Total Real Estate
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	93,031	28,467	177,552	196,967
Elim.
Disaggregation of Revenue [Line Items]
Total Revenue	(590)	(1,366)	(3,496)	(2,310)
Operating Segments | Southern Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	44,818	47,653	145,789	147,402
Total Revenue	44,818	47,653	145,789	147,402
Operating Segments | Southern Timber | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	21,358	22,061	66,941	74,239
Operating Segments | Southern Timber | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	17,680	19,356	58,335	55,224
Operating Segments | Southern Timber | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	247	760	1,920	1,752
Operating Segments | Southern Timber | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	39,285	42,177	127,196	131,215
Operating Segments | Southern Timber | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	4,588	4,461	13,501	13,386
Operating Segments | Southern Timber | Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	945	1,015	5,092	2,801
Operating Segments | Southern Timber | Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0		0	0
Operating Segments | Southern Timber | Fund II Timberland Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0		0
Operating Segments | Southern Timber | Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	5,533	5,476	18,593	16,187
Operating Segments | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	31,513	28,885	108,357	86,131
Total Revenue	31,513	28,885	108,357	86,131
Operating Segments | Pacific Northwest Timber | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	2,116	1,963	6,689	8,253
Operating Segments | Pacific Northwest Timber | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	28,134	25,513	97,647	75,255
Operating Segments | Pacific Northwest Timber | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments | Pacific Northwest Timber | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	30,250	27,476	104,336	83,508
Operating Segments | Pacific Northwest Timber | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	298	252	505	444
Operating Segments | Pacific Northwest Timber | Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	965	1,157	3,516	2,179
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 | Fund II Timberland Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0		0
Operating Segments | Pacific Northwest Timber | Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	1,263	1,409	4,021	2,623
Operating Segments | New Zealand Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	75,558	62,804	213,696	142,112
Total Revenue	75,558	62,804	213,696	142,112
Operating Segments | New Zealand Timber | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	10,746	7,943	32,555	18,545
Operating Segments | New Zealand Timber | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	64,562	51,400	180,339	117,157
Operating Segments | New Zealand Timber | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments | New Zealand Timber | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	75,308	59,343	212,894	135,702
Operating Segments | New Zealand Timber | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	161	60	300	200
Operating Segments | New Zealand Timber | Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	89	3,401	502	6,210
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 | Fund II Timberland Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0		0
Operating Segments | New Zealand Timber | Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	250	3,461	802	6,410
Operating Segments | Timber Funds
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	93,970	8,633	124,795	15,279
Total Revenue	94,469	9,907	128,054	17,431
Operating Segments | Timber Funds | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	127	227	783	555
Operating Segments | Timber Funds | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,707	8,397	36,433	14,701
Operating Segments | Timber Funds | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments | Timber Funds | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,834	8,624	37,216	15,256
Operating Segments | Timber Funds | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	11	(6)	41	4
Operating Segments | Timber Funds | Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	25	15	438	19
Operating Segments | Timber Funds | Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0		0	0
Operating Segments | Timber Funds | Fund II Timberland Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	87,100		87,100
Operating Segments | Timber Funds | Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	87,136	9	87,579	23
Operating Segments | Real Estate
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	93,031	28,467	177,552	196,967
Lease Revenue	344	324	857	397
Total Revenue	93,375	28,791	178,409	197,364
Operating Segments | Real Estate | Improved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	27,774	1,344	47,366	7,771
Operating Segments | Real Estate | Unimproved Development
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	37,500	0	37,500	8,426
Operating Segments | Real Estate | Rural
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,937	23,245	36,999	52,876
Operating Segments | Real Estate | Timberland & Non-Strategic
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	44	42	44	9,647
Operating Segments | Real Estate | Conservation Easement
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers		3,099	3,855	3,099
Operating Segments | Real Estate | Deferred Revenue/Other
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	728	737	(4,260)	(879)
Operating Segments | Real Estate | Large Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	20,048		56,048	116,027
Operating Segments | Real Estate | Total Real Estate
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	93,031	28,467	177,552	196,967
Operating Segments | Trading
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	25,492	22,109	76,558	65,347
Total Revenue	25,583	22,201	76,795	65,505
Operating Segments | Trading | Pulpwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	3,861	2,534	9,372	7,527
Operating Segments | Trading | Sawtimber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	21,281	19,575	66,146	57,493
Operating Segments | Trading | Hardwood
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments | Trading | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	25,142	22,109	75,518	65,020
Operating Segments | Trading | License Revenue, Primarily from Hunting
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments | Trading | Other Non-Timber/Carbon Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Operating Segments | Trading | Agency Fee Income
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	350		1,040	327
Operating Segments | Trading | Fund II Timberland Dispositions
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0		0
Operating Segments | Trading | Total Non-Timber Sales
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	350	0	1,040	327
Intersegment | Timber Funds
Disaggregation of Revenue [Line Items]
Total Revenue	499	1,274	3,259	2,152
Intersegment | Trading
Disaggregation of Revenue [Line Items]
Total Revenue	91	92	237	158
Intersegment | Elim.
Disaggregation of Revenue [Line Items]
Total Revenue	$ (590)	$ (1,366)	$ (3,496)	$ (2,310)

REVENUE - Disaggregation of R_2

REVENUE - Disaggregation of Revenue by Contract Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	$ 364,382	$ 198,551	$ 846,747	$ 653,238
Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	12,466	15,272	49,103	57,426
Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	2,238	782	13,949	7,490
Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	14,704	16,054	63,052	64,916
Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	162,115	143,675	494,108	365,785
Total Delivered | Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	76,053	77,339	249,957	203,263
Total Delivered | Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	86,062	66,336	244,151	162,522
Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	176,819	159,729	557,160	430,701
Southern Timber | Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	12,335	14,518	48,775	56,141
Southern Timber | Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	392	310	5,040	1,561
Southern Timber | Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	12,727	14,828	53,815	57,702
Southern Timber | Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	26,558	27,349	73,381	73,513
Southern Timber | Total Delivered | Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	19,515	21,976	57,528	64,473
Southern Timber | Total Delivered | Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	7,043	5,373	15,853	9,040
Pacific Northwest Timber | Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Pacific Northwest Timber | Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	1,846	472	8,909	5,929
Pacific Northwest Timber | Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	1,846	472	8,909	5,929
Pacific Northwest Timber | Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	28,404	27,004	95,427	77,579
Pacific Northwest Timber | Total Delivered | Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	28,404	27,004	95,427	77,579
Pacific Northwest Timber | Total Delivered | Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
New Zealand Timber | Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
New Zealand Timber | Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
New Zealand Timber | Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
New Zealand Timber | Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	75,308	59,343	212,894	135,702
New Zealand Timber | Total Delivered | Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	20,614	20,127	56,970	45,944
New Zealand Timber | Total Delivered | Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	54,694	39,216	155,924	89,758
Timber Funds | Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	131	754	328	1,285
Timber Funds | Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Timber Funds | Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	131	754	328	1,285
Timber Funds | Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,703	7,870	36,888	13,971
Timber Funds | Total Delivered | Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,703	7,870	36,888	13,971
Timber Funds | Total Delivered | Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Trading | Stumpage Pay-as-Cut
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Trading | Stumpage Lump Sum
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Trading | Total Stumpage
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	0	0	0	0
Trading | Total Delivered
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	25,142	22,109	75,518	65,020
Trading | Total Delivered | Delivered Wood (Domestic)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	817	362	3,144	1,296
Trading | Total Delivered | Delivered Wood (Export)
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	24,325	21,747	72,374	63,724
Operating Segments | Southern Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	44,818	47,653	145,789	147,402
Operating Segments | Southern Timber | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	39,285	42,177	127,196	131,215
Operating Segments | Pacific Northwest Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	31,513	28,885	108,357	86,131
Operating Segments | Pacific Northwest Timber | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	30,250	27,476	104,336	83,508
Operating Segments | New Zealand Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	75,558	62,804	213,696	142,112
Operating Segments | New Zealand Timber | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	75,308	59,343	212,894	135,702
Operating Segments | Timber Funds
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	93,970	8,633	124,795	15,279
Operating Segments | Timber Funds | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	6,834	8,624	37,216	15,256
Operating Segments | Trading
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	25,492	22,109	76,558	65,347
Operating Segments | Trading | Total Timber
Disaggregation of Revenue [Line Items]
Revenue from Contracts with Customers	$ 25,142	$ 22,109	$ 75,518	$ 65,020

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Sep. 30, 2021
Minimum
Lessee, Lease, Description [Line Items]
Contract terms, in years	1 year
Maximum
Lessee, Lease, Description [Line Items]
Contract terms, in years	5 years

LEASES - Lease Income (Details)

LEASES - Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease income	$ 344	$ 324	$ 857	$ 397
Total lease income	$ 344	$ 324	$ 857	$ 397

NONCONTROLLING INTERESTS - Narr

NONCONTROLLING INTERESTS - Narrative (Details) $ in Thousands	Sep. 30, 2021a	Jul. 21, 2021USD ($)	May 08, 2020afund	Nov. 01, 2021USD ($)adisposition	Sep. 30, 2021USD ($)a	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)a	Sep. 30, 2020USD ($)	Oct. 05, 2021USD ($)a
Schedule of Equity Method Investments [Line Items]
Other operating income (expense), net					$ 5,070	$ (1,653)	$ 9,474	$ (19,247)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Properties Under Contract
Schedule of Equity Method Investments [Line Items]
Area of land | a	13,000				13,000		13,000
Other operating income (expense), net							$ 36,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Properties Under Contract | Subsequent event
Schedule of Equity Method Investments [Line Items]
Number of additional dispositions | disposition				2
Variable Interest Entity, Primary Beneficiary | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Properties Under Contract
Schedule of Equity Method Investments [Line Items]
Other operating income (expense), net							$ 7,200
ORM Timber Fund II | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Properties Under Contract | Subsequent event | Timber Funds
Schedule of Equity Method Investments [Line Items]
Area of land | a				13,000					5,000
Aggregate purchase price				$ 32,500					$ 37,200
Ferncliff Investors | Ferncliff Management
Schedule of Equity Method Investments [Line Items]
Ownership interest owned by limited partners							33.33%
Bainbridge Landing LLC | Ferncliff Investors
Schedule of Equity Method Investments [Line Items]
Ownership interest owned by limited partners							50.00%
ORM Timber Fund III And IV | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Fund III And IV Timberland Dispositions | Timber Funds
Schedule of Equity Method Investments [Line Items]
Aggregate purchase price		$ 35,900
Other operating income (expense), net		$ (3,700)
Matariki Forestry Group
Schedule of Equity Method Investments [Line Items]
Acres of timberland owned (acres) | a	418,000				418,000		418,000
Matariki Forestry Group | Rayonier
Schedule of Equity Method Investments [Line Items]
Ownership percentage	77.00%				77.00%		77.00%
Matariki Forestry Group | Rayonier New Zealand Subsidiary
Schedule of Equity Method Investments [Line Items]
Ownership percentage by noncontrolling owners	23.00%				23.00%		23.00%
ORM Timber Funds | Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Number of timber funds | fund			3
Area of land | a			141,000
ORM Timber Funds | ORM Timber Fund II | Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership interest	20.00%						20.00%
ORM Timber Funds | ORM Timber Fund III | Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership interest			5.00%
ORM Timber Funds | ORM Timber Fund IV | Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership interest			15.00%
Ferncliff Investors | Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Number of acres to be developed | a							5

NONCONTROLLING INTERESTS - Sche

NONCONTROLLING INTERESTS - Schedule of Net Income Attributable to Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]
Net income (loss) attributable to noncontrolling interest	$ 32,471	$ (8,715)	$ 40,775	$ (9,647)
Matariki Forestry Group
Schedule of Equity Method Investments [Line Items]
Net income (loss) attributable to noncontrolling interest	2,006	2,066	7,716	3,326
ORM Timber Funds
Schedule of Equity Method Investments [Line Items]
Net income (loss) attributable to noncontrolling interest	30,465	(10,627)	32,929	(12,773)
Ferncliff Investors
Schedule of Equity Method Investments [Line Items]
Net income (loss) attributable to noncontrolling interest	$ 0	$ (153)	$ 129	$ (199)

NONCONTROLLING INTERESTS - Sc_2

NONCONTROLLING INTERESTS - Schedule of Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning noncontrolling interests in the Operating Partnership	$ 153,505	$ 110,220	$ 130,121	$ 0
Issuances of Redeemable Operating Partnership Units	0	0	0	106,752
Adjustment of noncontrolling interests in the Operating Partnership	(1,746)	8,030	25,531	12,022
Conversions of Redeemable Operating Partnership Units to Common Shares	(12,258)	(27)	(17,214)	(27)
Net Income (Loss) attributable to noncontrolling interests in the Operating Partnership	2,210	(25)	4,303	195
Other Comprehensive (Loss) Income attributable to noncontrolling interests in the Operating Partnership	(92)	532	1,187	989
Distributions to noncontrolling interests in the Operating Partnership	(1,064)	(1,200)	(3,373)	(2,401)
Total noncontrolling interests in the Operating Partnership	$ 140,555	$ 117,530	$ 140,555	$ 117,530

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details)	Sep. 30, 2021	Sep. 30, 2021
ORM Timber Fund II | Variable Interest Entity, Primary Beneficiary | ORM Timber Funds
Variable Interest Entity [Line Items]
Ownership interest	20.00%	20.00%

VARIABLE INTEREST ENTITIES - Su

VARIABLE INTEREST ENTITIES - Summary of VIEs (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
ASSETS
Cash and cash equivalents	$ 431,806	$ 84,507	$ 78,151
Accounts receivable	42,352	49,082
Assets held for sale	56,397	3,449
Other current assets	2,212	6,765
Total current assets	619,930	170,565
TOTAL ASSETS	3,706,414	3,728,733
Liabilities and Equity:
Accounts payable	27,989	24,790
Accrued taxes	18,503	7,347
Deferred revenue	19,899	11,112
Distribution payable, Timber Funds	49,209	0
Other current liabilities	28,983	29,234
Total current liabilities	368,235	91,135
Funds’ equity	1,710,393	1,474,057
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY	3,706,414	$ 3,728,733
Variable Interest Entity, Primary Beneficiary | ORM Timber Funds
ASSETS
Cash and cash equivalents	12,202
Restricted cash, Timber Funds	49,209
Accounts receivable	513
Assets held for sale	54,926
Other current assets	79
Total current assets	116,929
Other assets	23
TOTAL ASSETS	116,952
Liabilities and Equity:
Accounts payable	547
Intercompany payable	160
Accrued taxes	71
Deferred revenue	164
Distribution payable, Timber Funds	49,209
Other current liabilities	36
Total current liabilities	50,187
Funds’ equity	66,765
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY	116,952
Variable Interest Entity, Primary Beneficiary | Ferncliff Investors
ASSETS
Cash and cash equivalents	391
Total current assets	391
Advances to real estate joint venture entity	1,000
TOTAL ASSETS	1,391
Liabilities and Equity:
Total current liabilities	1,897
Funds’ equity	(506)
TOTAL LIABILITIES, NONCONTROLLING INTERESTS IN THE OPERATING PARTNERSHIP AND SHAREHOLDERS’ EQUITY	$ 1,391

EARNINGS (LOSS) PER SHARE AND_3

EARNINGS (LOSS) PER SHARE AND PER UNIT - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net Income (Loss)	$ 110,512			$ (9,498)			$ 188,963	$ 17,378
Less: Net (income) loss attributable to noncontrolling interests in the Operating Partnership	(2,210)	$ (1,753)	$ (341)	25	$ (219)		(4,303)	(195)
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	(32,471)			8,715			(40,775)	9,647
Net income (loss) attributable to Rayonier Inc.	$ 75,831			$ (758)			$ 143,885	$ 26,830
Denominator:
Denominator for basic earnings (loss) per common share - weighted average shares (in shares)	141,777,574			136,351,271			139,749,358	132,948,124
Basic earnings per common share attributable to Rayonier Inc (in dollars per share)	$ 0.53			$ (0.01)			$ 1.03	$ 0.20
Numerator:
Net Income (Loss)	$ 110,512			$ (9,498)			$ 188,963	$ 17,378
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	32,471			(8,715)			40,775	(9,647)
Less: Net loss attributable to noncontrolling interests in the Operating Partnership	0			25			0	0
Net income (loss) attributable to Rayonier Inc., before net income attributable to noncontrolling interests in the Operating Partnership	78,041			(758)			148,188	27,025
Net income (loss) attributable to Rayonier Inc.	$ 75,831			$ (758)			$ 143,885	$ 26,830
Denominator:
Denominator for basic earnings (loss) per common share - weighted average shares (in shares)	141,777,574			136,351,271			139,749,358	132,948,124
Add: Dilutive effect of:
Stock options (in shares/units)	9,803			0			8,833	492
Performance shares, restricted shares and restricted stock units (in shares/units)	520,737			0			361,596	159,018
Noncontrolling interest in common units (in shares)	4,131,454			0			4,245,323	2,352,822
Denominator for diluted (loss) earnings per common share - adjusted weighted average shares (in shares/units)	146,439,568			136,351,271			144,365,110	135,460,456
Diluted earnings (loss) per common share attributable to Rayonier Inc. (in dollars per share)	$ 0.53			$ (0.01)			$ 1.03	$ 0.20
Rayonier Limited Partnership
Numerator:
Net Income (Loss)	$ 110,512	63,420	15,032	$ (9,498)	455	$ 26,421	$ 188,963	$ 17,378
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	(32,471)			8,715			(40,775)	9,647
Net income (loss) attributable to Rayonier Inc.	$ 78,041			$ (783)			$ 148,188	$ 27,025
Denominator:
Denominator for basic earnings per unit - weighted average units (in units)	145,909,028			140,797,217			143,994,681	135,300,946
Basic earnings per unit attributable to Rayonier, L.P. (in dollars per unit)	$ 0.53			$ (0.01)			$ 1.03	$ 0.20
Numerator:
Net Income (Loss)	$ 110,512	$ 63,420	$ 15,032	$ (9,498)	$ 455	$ 26,421	$ 188,963	$ 17,378
Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates	32,471			(8,715)			40,775	(9,647)
Net income (loss) attributable to Rayonier Inc.	$ 78,041			$ (783)			$ 148,188	$ 27,025
Denominator:
Denominator for basic earnings per unit - weighted average units (in units)	145,909,028			140,797,217			143,994,681	135,300,946
Add: Dilutive effect of:
Stock options (in shares/units)	9,803			0			8,833	492
Performance shares, restricted shares and restricted stock units (in shares/units)	520,737			0			361,596	159,018
Denominator for diluted (loss) earnings per common share - adjusted weighted average shares (in shares/units)	146,439,568			140,797,217			144,365,110	135,460,456
Diluted earnings (loss) per unit attributable to Rayonier, L.P. (in dollars per unit)	$ 0.53			$ (0.01)			$ 1.03	$ 0.20

EARNINGS (LOSS) PER SHARE AND_4

EARNINGS (LOSS) PER SHARE AND PER UNIT - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit (in shares/units)	100,135	5,038,514	167,668	471,999
Rayonier Limited Partnership
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive unit equivalents excluded from the computations of diluted earnings per unit (in shares/units)	100,135	592,568	167,668	471,999

DEBT - Schedule of Long Term De

DEBT - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	May 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total long-term debt, net	$ 1,167,967
Excluding Timber Funds
Debt Instrument [Line Items]
Total long-term debt	1,376,435
Less: Unamortized discounts, excluding Timber Funds	(3,505)
Current maturities of long-term debt, excluding Timber Funds	(199,887)		$ 0
Less: Deferred financing costs, excluding Timber Funds	(5,076)
Total long-term debt, net	1,167,967		1,300,336
Timber Funds
Debt Instrument [Line Items]
Total long-term debt, net	0		$ 60,179
Term Credit Agreement borrowings due 2028 at a variable interest rate of 1.8% at March 31, 2021 | Excluding Timber Funds
Debt Instrument [Line Items]
Total long-term debt	$ 350,000
Stated interest rate	1.70%
Effective fixed interest rate	3.10%
Term Credit Agreement borrowings due 2028 at a variable interest rate of 1.8% at March 31, 2021 | Excluding Timber Funds | LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate	1.60%
Senior Notes due 2022 at a fixed interest rate of 3.75% | Excluding Timber Funds
Debt Instrument [Line Items]
Total long-term debt	$ 325,000
Stated interest rate	3.75%	3.75%
Senior Notes due 2031 at a fixed interest rate of 2.75% | Excluding Timber Funds
Debt Instrument [Line Items]
Total long-term debt	$ 450,000
Stated interest rate	2.75%	2.75%
Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 2.1% at March 31, 2021 | Excluding Timber Funds
Debt Instrument [Line Items]
Total long-term debt	$ 200,000
Stated interest rate	1.70%
Effective fixed interest rate	2.40%
Incremental Term Loan Agreement borrowings due 2026 at a variable interest rate of 2.1% at March 31, 2021 | Excluding Timber Funds | LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate	1.65%
New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95% | Excluding Timber Funds
Debt Instrument [Line Items]
Stated interest rate	2.95%
New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95% | Excluding Timber Funds | Matariki Forestry Group
Debt Instrument [Line Items]
Total long-term debt	$ 23,739
New Zealand subsidiary noncontrolling interests shareholder loan due 2026 at a fixed interest rate of 3.64% | Excluding Timber Funds | Matariki Forestry Group
Debt Instrument [Line Items]
Total long-term debt	$ 27,696
Stated interest rate	3.64%

DEBT - Schedule of Long Term Ma

DEBT - Schedule of Long Term Maturities (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt Instrument [Line Items]
2021	$ 0
2022	325,000
2023	0
2024	0
2025	23,739
Thereafter	1,027,696
Total Debt	1,376,435
Excluding Timber Funds
Debt Instrument [Line Items]
2021	0
2022	325,000
2023	0
2024	0
2025	23,739
Thereafter	1,027,696
Total Debt	1,376,435
Timber Funds
Debt Instrument [Line Items]
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	0
Total Debt	$ 0

DEBT - Narrative and Debt Coven

DEBT - Narrative and Debt Covenants (Details) $ in Thousands, $ in Millions	Jul. 21, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	May 31, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	May 31, 2021	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021NZD ($)	Jul. 31, 2021USD ($)	Jun. 30, 2021NZD ($)
Debt Instrument [Line Items]
Debt issuance costs								$ 4,829	$ 2,483
Repayments of debt								420,000	132,000
Interest and other miscellaneous income (expense), net					$ 1,274	$ (137)		127	1,232
Make-whole fee on NWFCS debt prepayment								(6,234)	0
Repayments								0
Other operating income (expense), net					5,070	$ (1,653)		9,474	$ (19,247)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Properties Under Contract
Debt Instrument [Line Items]
Other operating income (expense), net								36,000
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings								0
Excluding Timber Funds
Debt Instrument [Line Items]
Capitalized financing costs		$ 5,076			5,076			5,076
Total long-term debt		1,376,435			1,376,435			1,376,435
Excluding Timber Funds | 2020 Incremental Term Loan Agreement
Debt Instrument [Line Items]
Repayments of debt				$ 250,000
Gain (loss) on extinguishment of debt				600
Excluding Timber Funds | 2021 Incremental Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		200,000	$ 200,000		200,000			200,000
Capitalized financing costs		200			200			200
Advance amount		200,000			200,000			200,000
Amount outstanding		0			0			0
Amount of future advance expected		125,000			125,000			125,000
Deferred commitment fees		300			300			300
Excluding Timber Funds | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		300,000	300,000		300,000			300,000
Capitalized financing costs			$ 300
Remaining borrowing capacity		299,100			299,100			299,100
Amount to secure outstanding letters of credit		900			900			900
Excluding Timber Funds | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate			1.25%				1.50%
Excluding Timber Funds | Incremental Term Loan Agreement
Debt Instrument [Line Items]
Repayments of debt			$ 100,000
Gain (loss) on extinguishment of debt			100
Maximum borrowing capacity		200,000			200,000			200,000
Total long-term debt			300,000
Excluding Timber Funds | 2016 Incremental Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 300,000
Interest and other miscellaneous income (expense), net								300
Excluding Timber Funds | 2016 Incremental Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Basis points on periodic interest rate			1.65%				1.90%
Excluding Timber Funds | Northwest Farm Credit Services Credit Facility
Debt Instrument [Line Items]
Repayments of debt		45,000
Gain (loss) on extinguishment of debt		7,200
Make-whole fee on NWFCS debt prepayment		6,200
Net gain on early extinguishment of debt		900
Excluding Timber Funds | Term Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 350,000			$ 350,000			$ 350,000
Excluding Timber Funds | Senior Notes Due 2031
Debt Instrument [Line Items]
Amount issued and sold				$ 450,000
Stated interest rate		2.75%		2.75%	2.75%		2.75%	2.75%		2.75%
Issue price, percent				99.195%
Debt issuance costs				$ 3,900
Proceeds from debt				$ 442,500
Total long-term debt		$ 450,000			$ 450,000			$ 450,000
Excluding Timber Funds | Senior Notes due 2022
Debt Instrument [Line Items]
Stated interest rate		3.75%		3.75%	3.75%		3.75%	3.75%		3.75%
Total long-term debt		$ 325,000			$ 325,000			$ 325,000
Excluding Timber Funds | Senior Notes due 2022 | 2021 Incremental Term Loan Facility
Debt Instrument [Line Items]
Stated interest rate		3.75%			3.75%			3.75%		3.75%
Excluding Timber Funds | Working Capital Facility
Debt Instrument [Line Items]
Debt term			12 months									12 months
Repayments								$ 0
Borrowings								$ 0
Remaining borrowing capacity										$ 20		$ 20
Excluding Timber Funds | New Zealand subsidiary noncontrolling interests shareholder loan due 2026 at a fixed interest rate of 3.64% | Matariki Forestry Group
Debt Instrument [Line Items]
Stated interest rate		3.64%			3.64%			3.64%		3.64%
Total long-term debt		$ 27,696			$ 27,696			$ 27,696
Outstanding balance		$ 27,700			$ 27,700			$ 27,700			$ 28,100
Excluding Timber Funds | New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95%
Debt Instrument [Line Items]
Stated interest rate		2.95%			2.95%			2.95%		2.95%
Excluding Timber Funds | New Zealand subsidiary noncontrolling interests shareholder loan due 2025 at a fixed interest rate of 2.95% | Matariki Forestry Group
Debt Instrument [Line Items]
Total long-term debt		$ 23,739			$ 23,739			$ 23,739
Outstanding balance		23,700			$ 23,700			$ 23,700
Timber Funds | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Fund III And IV Timberland Dispositions | ORM Timber Fund III And IV
Debt Instrument [Line Items]
Aggregate purchase price	$ 35,900
Other operating income (expense), net	$ (3,700)
Timber Funds | Fund II Mortgages Payable
Debt Instrument [Line Items]
Repayments of debt		25,000
Gain (loss) on extinguishment of debt		$ 6

DEBT - Debt Covenants - Excludi

DEBT - Debt Covenants - Excluding Timber Funds (Details) - Term Credit Agreement borrowings due 2028 at a variable interest rate of 1.8% at March 31, 2021 - Excluding Timber Funds	Sep. 30, 2021
Debt Instrument [Line Items]
Covenant EBITDA to consolidated interest expense, Covenant Requirement	2.5
Covenant EBITDA to consolidated interest expense, Actual ratio	11.6
Covenant EBITDA to consolidated interest expense, Favorable	9.1
Covenant debt to net worth plus covenant debt, Covenant Requirement	0.65
Covenant debt to net worth plus covenant debt, Actual ratio	0.44
Covenant debt to net worth plus covenant debt, favorable	0.21

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) $ in Thousands	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020agreement	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Derivative [Line Items]
Repayments of debt					$ 420,000	$ 132,000
Derivatives designated as cash flow hedges
Derivative [Line Items]
Amount expected to be reclassified into earnings in next 12 months					$ (11,703)
2026 Incremental Term Loan | Excluding Timber Funds
Derivative [Line Items]
Repayments of debt		$ 100,000
2020 Incremental Term Loan Facility borrowings due 2025 at a variable interest rate of 2.0% at March 31, 2021 | Excluding Timber Funds
Derivative [Line Items]
Repayments of debt		250,000
Interest Rate Swap Maturing 2030 | Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges
Derivative [Line Items]
Amount subject to termination, de-designation, or cash settlement		250,000
Proceeds from derivative termination		6,800
Gain (loss) recorded to AOCI	$ 16,300
Interest Rate Swap Maturing 2026 | Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges
Derivative [Line Items]
Amount subject to termination, de-designation, or cash settlement		100,000
Gain (loss) related to terminated interest rate swaps		(2,200)
Treasury locks | Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges
Derivative [Line Items]
Gain (loss) recorded to AOCI	17,800
Number of agreements | agreement				3
Interest rate swap locks
Derivative [Line Items]
Amount subject to termination, de-designation, or cash settlement			$ 11,100
Interest rate swap locks | Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges
Derivative [Line Items]
Gain (loss) recorded to AOCI	1,200
Forward-starting interest rate swaps | Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges
Derivative [Line Items]
Amount subject to termination, de-designation, or cash settlement		$ 325,000
Gain (loss) recorded to AOCI	$ 9,900
New Zealand JV | Forecasted Sales and Purchases, term 1
Derivative [Line Items]
Length of time, foreign currency cash flow hedge					12 months
New Zealand JV | Minimum | Forecasted Sales and Purchases, term 1
Derivative [Line Items]
Percent of forecast sales and purchases hedged for 12 months	50.00%				50.00%
New Zealand JV | Minimum | Forecasted Sales and Purchases, term 2
Derivative [Line Items]
Length of time, foreign currency cash flow hedge					12 months
New Zealand JV | Minimum | Foreign Sales and Purchases, term 3
Derivative [Line Items]
Length of time, foreign currency cash flow hedge					18 months
New Zealand JV | Maximum | Forecasted Sales and Purchases, term 1
Derivative [Line Items]
Percent of forecast sales and purchases hedged for 12 months	90.00%				90.00%
New Zealand JV | Maximum | Forecasted Sales and Purchases, term 2
Derivative [Line Items]
Length of time, foreign currency cash flow hedge					18 months
Percent of forecast sales and purchases hedged for 12 to 18 months	75.00%				75.00%
New Zealand JV | Maximum | Foreign Sales and Purchases, term 3
Derivative [Line Items]
Length of time, foreign currency cash flow hedge					48 months
Percent of forecast sales and purchases hedged for 18 to 48 months	50.00%				50.00%

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding Derivative Products (Details) - Derivatives designated as cash flow hedges - Derivatives designated as cash flow hedges	9 Months Ended
	Sep. 30, 2021USD ($)
Interest Rate Swap 1
Derivative [Line Items]
Term	9 years
Notional Amount	$ 170,000
Fixed Rate of Swap	2.20%
Bank Margin on Debt	1.60%
Total Effective Interest Rate	3.80%
Interest Rate Swap 2
Derivative [Line Items]
Term	9 years
Notional Amount	$ 180,000
Fixed Rate of Swap	2.35%
Bank Margin on Debt	1.60%
Total Effective Interest Rate	3.95%
Interest Rate Swap 3
Derivative [Line Items]
Term	10 years
Notional Amount	$ 100,000
Fixed Rate of Swap	1.60%
Bank Margin on Debt	1.65%
Total Effective Interest Rate	3.25%
Interest Rate Swap 4
Derivative [Line Items]
Term	10 years
Notional Amount	$ 100,000
Fixed Rate of Swap	1.60%
Bank Margin on Debt	1.65%
Total Effective Interest Rate	3.25%
Forward-Starting Interest Rate Swap 1
Derivative [Line Items]
Term	4 years
Notional Amount	$ 100,000
Fixed rate on derivative	0.88%
Forward-Starting Interest Rate Swap 2
Derivative [Line Items]
Term	4 years
Notional Amount	$ 50,000
Fixed rate on derivative	0.74%
Forward-Starting Interest Rate Swap 3
Derivative [Line Items]
Term	7 years
Notional Amount	$ 200,000
Fixed rate on derivative	0.77%

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Income Statement Location (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	$ 1,711	$ (10,019)	$ 61,001	$ 7,861	$ (7,276)	$ (83,475)
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Foreign currency exchange contracts | Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	(2,618)			1,946			$ (6,366)	$ 1,806
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Foreign currency option contracts | Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	(356)			358			(1,514)	85
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Interest rate products | Other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	1,288			2,417			46,433	(91,203)
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Interest rate products | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge, gain (loss) recognized in income	$ 2,564			$ 3,783			11,935	6,951
Derivative not designated as a hedging instrument | Carbon options | Interest and other miscellaneous income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (loss) recognized in income							$ 0	$ 563

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Reclassified Amounts Into Earnings (Details) - Derivatives designated as cash flow hedges $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Amount expected to be reclassified into earnings in next 12 months	$ (11,703)
Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount expected to be reclassified into earnings in next 12 months	139
Interest rate products
Derivative Instruments, Gain (Loss) [Line Items]
Amount expected to be reclassified into earnings in next 12 months	$ (11,842)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Notional Amounts (Details) - Derivatives designated as cash flow hedges - Derivatives designated as cash flow hedges - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	$ 144,000,000	$ 49,000,000
Foreign currency option contracts
Derivatives, Fair Value [Line Items]
Notional Amount	0	28,000,000
Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	550,000,000	900,000,000
Forward-starting interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	$ 350,000,000	$ 475,000,000

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Balance Sheet Location (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	$ 13,105	$ 8,057
Fair value, derivative liability	(26,426)	(64,633)
Other current assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	1,892	6,494
Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	11,213	1,563
Other current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(1,699)	(11)
Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(24,727)	(64,622)
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Foreign currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	1,892	4,968
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Foreign currency exchange contracts | Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	7	1,050
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Foreign currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(1,699)	0
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Foreign currency exchange contracts | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(549)	0
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Foreign currency option contracts | Other current assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	0	1,526
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Foreign currency option contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	0	(11)
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Interest rate swaps | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	(24,178)	(51,580)
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Forward-starting interest rate swaps | Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	11,206	513
Derivatives designated as cash flow hedges | Derivatives designated as cash flow hedges | Forward-starting interest rate swaps | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	$ 0	$ (13,042)

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net	$ (1,167,967)
Excluding Timber Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash, excluding Timber Funds	625	$ 2,975	$ 475
Current maturities of long-term debt, excluding Timber Funds	(199,887)	0
Long-term debt, net	(1,167,967)	(1,300,336)
Timber Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash, Timber Funds	49,209	0	$ 0
Long-term debt, net	0	(60,179)
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncontrolling Interests in the Operating Partnership	140,555	130,121
Carrying Amount | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, liabilities	(24,178)	(51,580)
Carrying Amount | Forward-starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	11,206
Interest rate swaps, liabilities		(12,529)
Carrying Amount | Foreign currency exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts	(349)
Foreign currency contracts		6,018
Carrying Amount | Foreign currency option contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts	0	1,515
Carrying Amount | Excluding Timber Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, excluding Timber Funds	419,604	80,454
Restricted cash, excluding Timber Funds	625	2,975
Current maturities of long-term debt, excluding Timber Funds	(199,887)	0
Long-term debt, net	(1,167,967)	(1,300,336)
Carrying Amount | Timber Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, excluding Timber Funds	12,202	4,053
Restricted cash, Timber Funds	49,209	0
Long-term debt, net	0	(60,179)
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncontrolling Interests in the Operating Partnership	140,555	130,121
Fair Value | Level 1 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, liabilities	0	0
Fair Value | Level 1 | Forward-starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	0
Interest rate swaps, liabilities		0
Fair Value | Level 1 | Foreign currency exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts	0
Foreign currency contracts		0
Fair Value | Level 1 | Foreign currency option contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts	0	0
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncontrolling Interests in the Operating Partnership	0	0
Fair Value | Level 2 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, liabilities	(24,178)	(51,580)
Fair Value | Level 2 | Forward-starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, assets	11,206
Interest rate swaps, liabilities		(12,529)
Fair Value | Level 2 | Foreign currency exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts	(349)
Foreign currency contracts		6,018
Fair Value | Level 2 | Foreign currency option contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts	0	1,515
Fair Value | Excluding Timber Funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, excluding Timber Funds	419,604	80,454
Restricted cash, excluding Timber Funds	625	2,975
Current maturities of long-term debt, excluding Timber Funds	0	0
Long-term debt, net	0	0
Fair Value | Excluding Timber Funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, excluding Timber Funds	0	0
Restricted cash, excluding Timber Funds	0	0
Current maturities of long-term debt, excluding Timber Funds	(201,440)	0
Long-term debt, net	(1,173,657)	(1,313,631)
Fair Value | Timber Funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, excluding Timber Funds	12,202	4,053
Restricted cash, Timber Funds	49,209	0
Long-term debt, net	0	0
Fair Value | Timber Funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, excluding Timber Funds	0	0
Restricted cash, Timber Funds	0	0
Long-term debt, net	$ 0	$ (60,474)

COMMITMENTS (Details)

COMMITMENTS (Details) $ in Thousands	Sep. 30, 2021USD ($)
Commitments
Remaining 2021	$ 14,696
2022	29,483
2023	15,904
2024	12,821
2025	6,320
Thereafter	14,424
Commitments, total	93,648
Environmental Remediation
Commitments
Remaining 2021	255
2022	1,534
2023	3,188
2024	3,188
2025	519
Thereafter	2,266
Commitments, total	10,950
Development Projects
Commitments
Remaining 2021	11,113
2022	13,695
2023	267
2024	267
2025	267
Thereafter	3,916
Commitments, total	29,525
Commitments
Commitments
Remaining 2021	3,328
2022	14,254
2023	12,449
2024	9,366
2025	5,534
Thereafter	8,242
Commitments, total	$ 53,173

ENVIRONMENTAL AND NATURAL RES_3

ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES - Schedule of Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning balance, non-current portion	$ 10,615
Beginning balance, plus: current portion	1,026
Beginning balance	11,641
Expenditures	(762)
Increase to liabilities	71
Ending balance	10,950
Ending balance, less: current portion	(1,095)
Ending balance, non-current portion	$ 9,855

ENVIRONMENTAL AND NATURAL RES_4

ENVIRONMENTAL AND NATURAL RESOURCE DAMAGE LIABILITIES - Narrative (Details)	9 Months Ended
	Sep. 30, 2021
Minimum | Millsite Cleanup and Natural Resource Damages Restoration
Property, Plant and Equipment [Line Items]
Natural resource damages restoration monitoring term	2 years
Minimum | Port Gamble Location
Property, Plant and Equipment [Line Items]
Natural resource damages restoration monitoring term	10 years
Maximum | Millsite Cleanup and Natural Resource Damages Restoration
Property, Plant and Equipment [Line Items]
Natural resource damages restoration monitoring term	3 years
Maximum | Port Gamble Location
Property, Plant and Equipment [Line Items]
Natural resource damages restoration monitoring term	15 years

GUARANTEES (Details)

GUARANTEES (Details) $ in Thousands	Sep. 30, 2021USD ($)
Guarantor Obligations [Line Items]
Maximum Potential Payment	$ 13,314
Standby letters of credit
Guarantor Obligations [Line Items]
Maximum Potential Payment	885
Surety bonds
Guarantor Obligations [Line Items]
Maximum Potential Payment	$ 12,429

HIGHER AND BETTER USE TIMBERL_3

HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS (Details) - USD ($) $ in Thousands	May 08, 2020	Sep. 30, 2021
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance		$ 108,518
Plus: Current portion, beginning balance		6,756
Total balance, beginning balance		115,274
Non-cash cost of land and improved development		(18,522)
Amortization of parcel real estate development investments		(4,518)
Timber depletion from harvesting activities and basis of timber sold in real estate sales		(948)
Capitalized real estate development investments		16,871
Capital expenditures (silviculture)		76
Intersegment transfers		8,179
Port Gamble purchase price adjustment		8,238
Total balance, ending balance		124,650
Less: Current portion, ending balance		(14,058)
Non-current portion, ending balance		110,592
Capitalized interest		400
Parcel real estate development investments		7,700
Merger with Pope Resources
Real Estate, Land and Land Development Costs [Roll Forward]
HBU properties acquired in merger with pope resources	$ 34,700
Land and Timber
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance		79,901
Plus: Current portion, beginning balance		212
Total balance, beginning balance		80,113
Non-cash cost of land and improved development		(11,566)
Amortization of parcel real estate development investments		0
Timber depletion from harvesting activities and basis of timber sold in real estate sales		(948)
Capitalized real estate development investments		0
Capital expenditures (silviculture)		76
Intersegment transfers		8,179
Port Gamble purchase price adjustment		8,238
Total balance, ending balance		84,092
Less: Current portion, ending balance		(601)
Non-current portion, ending balance		83,491
Development Investments
Real Estate, Land and Land Development Costs [Roll Forward]
Non-current portion, beginning balance		28,617
Plus: Current portion, beginning balance		6,544
Total balance, beginning balance		35,161
Non-cash cost of land and improved development		(6,956)
Amortization of parcel real estate development investments		(4,518)
Timber depletion from harvesting activities and basis of timber sold in real estate sales		0
Capitalized real estate development investments		16,871
Capital expenditures (silviculture)		0
Intersegment transfers		0
Port Gamble purchase price adjustment		0
Total balance, ending balance		40,558
Less: Current portion, ending balance		(13,457)
Non-current portion, ending balance		$ 27,101

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory [Line Items]
Inventory	$ 18,592	$ 10,594
Real estate inventory
Inventory [Line Items]
Inventory	14,058	6,756
Log inventory
Inventory [Line Items]
Inventory	$ 4,534	$ 3,838

OTHER OPERATING INCOME (EXPEN_3

OTHER OPERATING INCOME (EXPENSE), NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Income and Expenses [Abstract]
Gain (loss) on foreign currency remeasurement, net of cash flow hedges	$ 1,379	$ (976)	$ 5,730	$ (2,263)
Gain on sale or disposal of property and equipment	0	19	93	26
Gain on Investment in Timber Funds	3,729	0	3,729	0
Log trading marketing fees	0	0	6	50
Costs related to the merger with Pope Resources	0	(430)	0	(16,415)
Equity income (loss) related to Bainbridge Landing LLC joint venture	36	(214)	241	(273)
Miscellaneous expense, net	(74)	(52)	(325)	(372)
Total	$ 5,070	$ (1,653)	$ 9,474	$ (19,247)

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)plan	Sep. 30, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of qualified defined benefit plans | plan			1
Pension contributions paid	$ 0		$ 0
Weighted-average expected long-term rate of return on plan assets			5.70%
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	$ 0	$ 0	$ 0
Interest cost	557	677	1,671	2,029
Expected return on plan assets	(936)	(876)	(2,809)	(2,628)
Amortization of losses	288	215	865	646
Net periodic benefit (credit) cost	(91)	16	(273)	47
Postretirement
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	2	6	5
Interest cost	11	13	34	38
Expected return on plan assets	0	0	0	0
Amortization of losses	5	2	15	6
Net periodic benefit (credit) cost	$ 18	$ 17	$ 55	$ 49

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Taxes
Income tax expense		$ (2,811)	$ (720)	$ (13,114)	$ (7,416)
Annualized effective tax rate after discrete items				6.40%	29.90%
Operating Partnership
Income Taxes
Ownership interest	97.30%

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Components (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 1,474,057
Other comprehensive income (loss) before reclassifications	23,756	$ (50,510)
Amounts reclassified from accumulated other comprehensive loss	13,569	7,827
Net other comprehensive (loss) income	37,325	(42,683)
Ending balance	1,710,393	1,474,057
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(73,885)	(31,202)
Ending balance	(36,560)	(73,885)
Foreign currency translation (loss) gains
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	22,702	(226)
Other comprehensive income (loss) before reclassifications	(16,369)	22,928
Amounts reclassified from accumulated other comprehensive loss	0	0
Net other comprehensive (loss) income	(16,369)	22,928
Ending balance	6,333	22,702
Net investment hedges of New Zealand subsidiary
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	1,321	1,321
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	0	0
Net other comprehensive (loss) income	0	0
Ending balance	1,321	1,321
Cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(71,056)	(8,910)
Other comprehensive income (loss) before reclassifications	40,125	(71,644)
Amounts reclassified from accumulated other comprehensive loss	13,874	9,498
Net other comprehensive (loss) income	53,999	(62,146)
Ending balance	(17,057)	(71,056)
Cash flow hedges | Interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other comprehensive income (loss) before reclassifications	46,400
Employee benefit plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(24,312)	(23,387)
Other comprehensive income (loss) before reclassifications	0	(1,794)
Amounts reclassified from accumulated other comprehensive loss	881	869
Net other comprehensive (loss) income	881	(925)
Ending balance	(23,431)	(24,312)
Total Rayonier, L.P.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(71,345)	(31,202)
Other comprehensive income (loss) before reclassifications	23,756	(50,510)
Amounts reclassified from accumulated other comprehensive loss	14,755	10,367
Net other comprehensive (loss) income	38,511	(40,143)
Ending balance	(32,834)	(71,345)
Allocation to Operating Partnership
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(2,540)	0
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	(1,186)	(2,540)
Net other comprehensive (loss) income	(1,186)	(2,540)
Ending balance	$ (3,726)	$ (2,540)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Reclassified AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other operating income (expense), net	$ (5,070)	$ 1,653	$ (9,474)	$ 19,247
Interest expense	(11,265)	(10,421)	(34,292)	(28,457)
Income tax expense	(2,811)	(720)	(13,114)	(7,416)
Net loss from accumulated other comprehensive income	$ (110,512)	$ 9,498	(188,963)	(17,378)
Amount reclassified from accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net loss from accumulated other comprehensive income			13,874	5,519
Cash flow hedges, parent | Amount reclassified from accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax expense			(755)	557
Cash flow hedges, parent | Amount reclassified from accumulated other comprehensive income (loss) | Foreign currency exchange contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other operating income (expense), net			2,322	(2,568)
Cash flow hedges, parent | Amount reclassified from accumulated other comprehensive income (loss) | Realized loss on foreign currency option contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other operating income (expense), net			1,177	(15)
Cash flow hedges, parent | Amount reclassified from accumulated other comprehensive income (loss) | Interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense			11,935	6,951
Cash flow hedges, noncontrolling interest | Amount reclassified from accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Comprehensive (loss) income attributable to noncontrolling interests			$ (805)	$ 594

RESTRICTED CASH - Schedule of R

RESTRICTED CASH - Schedule of Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 431,806	$ 84,507	$ 78,151
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows	481,640	87,482	78,626	$ 69,968
Timber Funds
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	12,202	4,053
Restricted cash, Timber Funds	49,209	0	0
Excluding Timber Funds
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	419,604	80,454
RESTRICTED CASH, EXCLUDING TIMBER FUNDS	$ 625	$ 2,975	$ 475

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
ORM Timber Fund II | Variable Interest Entity, Primary Beneficiary | ORM Timber Funds
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest	20.00%	20.00%
Disposal Group, Held-for-sale, Not Discontinued Operations | Properties Under Contract
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Period expected for sales to finalize		12 months
Assets held for sale	$ 56.4	$ 56.4	$ 3.4
Asset impairment recognized		$ 0

CHARGES FOR INTEGRATION AND R_3

CHARGES FOR INTEGRATION AND RESTRUCTURING (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Termination benefits	$ 0	$ 70	$ 0	$ 651
Acceleration of share-based compensation related to qualifying terminations	0	92	0	324
Professional services	0	239	0	13,553
Other integration and restructuring costs	0	29	0	1,887
Total integration and restructuring charges related to the merger with Pope Resources	$ 0	$ 430	$ 0	$ 16,415
Severance
Restructuring Cost and Reserve [Line Items]
Accrued severance of payroll taxes					$ 100

RELATED PARTY - Narrative (Deta

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

RELATED PARTY - Related Party T

RELATED PARTY - Related Party Transactions on Consolidated Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Mattamy Jacksonville LLC
Related Party Transaction [Line Items]
Revenue from related parties	$ 1,022	$ 0	$ 2,510	$ 0