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Document and Entity Information Document - shares	3 Months Ended
Document and Entity Information Document - shares	Mar. 31, 2014	Nov. 03, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	RAYONIER INC.
Trading Symbol	RYN
Entity Central Index Key	0000052827
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q/A
Document Period End Date	Mar. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Amendment Flag	true
Entity Common Stock, Shares Outstanding		126,726,146
Amendment Description	This Amendment No. 1 (this “Amendment”) to the Quarterly Report on Form 10-Q of Rayonier Inc. (the “Company”) for the quarterly period ended March 31, 2014 is being filed to amend and restate in their entirety the following items of its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014 that was filed on April 30, 2014 (the “Original Filing”): (i) Item 1 of Part I, “Financial Information,” (ii) Item 2 of Part I, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and (iii) Item 4 of Part I, “Controls and Procedures”. The Company has also updated the signature page, the certifications of its chief executive officer and chief financial officer in Exhibits 31.1, 31.2 and 32 and its unaudited consolidated financial statements formatted in Extensible Business Reporting Language (XBRL) in Exhibit 101. Concurrently with the filing of this Amendment, the Company is also filing Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2013, Amendment No. 1 to its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2014 and Amendment No. 1 to its Form 8-K filed with the Securities and Exchange Commission on July 3, 2014. On June 27, 2014, the Company spun off its Performance Fibers business to its shareholders as a newly formed publicly traded company named Rayonier Advanced Materials Inc. Following the spin-off, new management conducted a review of the Company’s operations and business strategies and identified issues related to its historical timber harvest levels, its estimate of merchantable timber inventory and the effect of such estimate on its calculation of depletion expense in each of the quarterly periods ended March 31, 2014 and June 30, 2014. At the direction of the Company’s Board of Directors, management commenced an internal review into these matters with the assistance of independent counsel, forensic accountants and financial advisers. As a result of the internal review, the Company concluded that it included in merchantable timber inventory for 2014, timber in specially designated parcels located in restricted, environmentally sensitive or economically inaccessible areas, which was incorrect, inconsistent with its definition of merchantable timber inventory, and a significant change from prior years. As a result, the Company concluded that it understated its depletion expense in cost of goods sold (referred to as “Cost of sales” in the Company's consolidated statements of income) by approximately $2.0 million in each of the quarterly periods ended March 31, 2014 and June 30, 2014, which resulted in a corresponding overstatement of income from continuing operations of $1.9 million and $2.0 million, respectively, in those periods. In addition, management determined that there was a material weakness in the Company’s internal controls related to merchantable timber inventory, as discussed in Part I, Item 4 of this Amendment. Accordingly, the Company has filed this Amendment and the restated interim consolidated financial statements contained herein. Further details of the errors and the impact on the unaudited financial statements set forth in the Original Filing are contained in Note 3 — Restatement of Previously Issued Consolidated Financial Statements in the Notes to the Unaudited Consolidated Financial Statements included in this Amendment. The Company has not modified or updated disclosures presented in the Original Filing, except to reflect the effects of the restatement of the Company’s financial statements and disclose the material weaknesses in our internal control over financial reporting that has been identified since the date of the Annual Report on Form 10-K, as described above. Accordingly, this Amendment does not reflect events occurring after the Original Filing, except as noted above, and this Amendment continues to speak as of the date of the Original Filing. Therefore, this Amendment should be read in conjunction with the Company’s other filings made with the Securities and Exchange Commission subsequent to the filing of the Original Filing, including any amendments to those filings.

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
SALES	$ 386,686	$ 393,719
Costs and Expenses
Cost of sales	304,619	266,018
Selling and general expenses	15,491	16,099
Other operating expense (income), net (Note 18)	3,537	(3,503)
Costs and Expenses, Total	323,647	278,614
Equity in income of New Zealand joint venture	0	258
OPERATING INCOME	63,039	115,363
Interest expense	(12,969)	(7,717)
Interest and miscellaneous (expense) income, net	(1,015)	57
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	49,055	107,703
Income tax expense	(7,712)	(4,445)
INCOME FROM CONTINUING OPERATIONS	41,343	103,258
DISCONTINUED OPERATIONS, NET (Note 2)
Income from discontinued operations, net of income tax expense of $0 and $22,273	0	44,477
NET INCOME	41,343	147,735	$ 373,798
Less: Net loss attributable to noncontrolling interest	(83)	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,426	147,735
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	17,803	975	(5,710)
New Zealand joint venture cash flow hedges, net of income tax expense of $501 and $0	1,711	554	3,629
Amortization of pension and postretirement plans, net of income tax expense of $931 and $2,204	2,097	4,969	$ 61,869
Total other comprehensive income	21,611	6,498
COMPREHENSIVE INCOME	62,954	154,233
Less: Comprehensive income attributable to noncontrolling interest	5,425	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	$ 57,529	$ 154,233
BASIC EARNINGS PER SHARE ATTRIBUTABLE TO RAYONIER INC.
Continuing Operations, Basic (in dollars per share)	$ 0.33	$ 0.83
Discontinued Operations, Basic (in dollars per share)	0.00	0.36
Net Income, Basic (in dollars per share)	0.33	1.19
DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO RAYONIER INC.
Continuing Operations, Diluted (in dollars per share)	0.32	0.79
Discontinued Operations, Diluted (in dollars per share)	0.00	0.34
Net Income, Diluted (in dollars per share)	$ 0.32	$ 1.13

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement of Comprehensive Income [Abstract]
Income from discontinued operations, income tax expense	$ 0	$ 22,273
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax	501	0
Amortization of pension and postretirement plans, income tax expense	$ 931	$ 2,204

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash and cash equivalents	$ 156,071	$ 199,644
Accounts receivable, less allowance for doubtful accounts of $777 and $673	111,697	94,956
Inventory
Finished goods	124,075	115,270
Work in progress	2,533	3,555
Raw materials	12,943	17,661
Manufacturing and maintenance supplies	2,377	2,332
Total inventory	141,928	138,818
Deferred tax assets	31,580	39,100
Prepaid and other current assets	54,577	46,576
Total current assets	495,853	519,094
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,067,549	2,049,378
PROPERTY, PLANT AND EQUIPMENT
Land	20,620	20,138
Buildings	188,913	180,573
Machinery and equipment	1,756,924	1,760,641
Construction in progress	32,560	19,795
Total property, plant and equipment, gross	1,999,017	1,981,147
Less — accumulated depreciation	(1,137,048)	(1,120,326)
Total property, plant and equipment, net	861,969	860,821
OTHER ASSETS	217,458	256,208
TOTAL ASSETS	3,642,829	3,685,501
CURRENT LIABILITIES
Accounts payable	86,282	69,293
Current maturities of long-term debt	114,319	112,500
Accrued taxes	11,374	8,551
Accrued payroll and benefits	19,261	24,948
Accrued interest	13,857	9,531
Accrued customer incentives	10,082	9,580
Other current liabilities	35,870	34,874
Current liabilities for dispositions and discontinued operations (Note 13)	6,446	6,835
Total current liabilities	297,491	276,112
LONG-TERM DEBT	1,393,887	1,461,724
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS (Note 13)	67,456	69,543
PENSION AND OTHER POSTRETIREMENT BENEFITS (Note 15)	95,098	95,654
OTHER NON-CURRENT LIABILITIES	31,254	27,225
COMMITMENTS AND CONTINGENCIES (Notes 12 and 14)
SHAREHOLDERS’ EQUITY
Common Shares, 480,000,000 shares authorized, 126,451,505 and 126,257,870 shares issued and outstanding	694,236	692,100
Retained earnings	994,624	1,015,209
Accumulated other comprehensive loss	(30,037)	(46,139)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,658,823	1,661,170
Noncontrolling interest	98,820	94,073
TOTAL SHAREHOLDERS’ EQUITY	1,757,643	1,755,243
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 3,642,829	$ 3,685,501

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Current Assets:
Accounts receivable, allowance for doubtful accounts	$ 777	$ 673
Shareholders’ Equity:
Common stock, shares authorized	480,000,000	480,000,000
Common stock, shares issued	126,451,505	126,257,870
Common stock, shares outstanding	126,451,505	126,257,870

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
OPERATING ACTIVITIES
Net income	$ 41,343	$ 147,735
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization	48,728	35,992
Non-cash cost of real estate sold	978	633
Stock-based incentive compensation expense	3,103	3,280
Deferred income taxes	5,596	1,832
Tax benefit of AFMC for CBPC exchange	0	(18,761)
Amortization of losses from pension and postretirement plans	3,028	6,279
Gain on sale of discontinued operations, net	0	(42,670)
Gain on foreign currency forward contracts	0	(1,881)
Other	(287)	(4,656)
Changes in operating assets and liabilities:
Receivables	(15,950)	(8,778)
Inventories	(950)	11,197
Accounts payable	13,929	15,386
Income tax receivable/payable	1,319	15,915
All other operating activities	935	99
Payment to exchange AFMC for CBPC	0	(70,311)
Expenditures for dispositions and discontinued operations	(2,498)	(1,631)
CASH PROVIDED BY OPERATING ACTIVITIES	99,274	89,660
INVESTING ACTIVITIES
Capital expenditures	(36,755)	(32,664)
Purchase of timberlands	(10,637)	(1,560)
Jesup mill cellulose specialties expansion (gross purchases of $0 and $57,693, net of purchases on account of $0 and $20,959)	0	(36,734)
Proceeds from disposition of Wood Products business	0	83,741
Change in restricted cash	45,312	9,908
Other	1,592	1,790
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(488)	24,481
FINANCING ACTIVITIES
Issuance of debt	31,819	100,000
Repayment of debt	(110,000)	(170,000)
Dividends paid	(62,545)	(57,744)
Proceeds from the issuance of common shares	2,027	4,091
Excess tax (deficiencies) benefits on stock-based compensation	(1,240)	6,191
Repurchase of common shares	(1,754)	(11,241)
Other	(679)	0
CASH USED FOR FINANCING ACTIVITIES	(142,372)	(128,703)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	13	(17)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(43,573)	(14,579)
Balance, beginning of year	199,644	280,596
Balance, end of period	156,071	266,017
Cash paid during the period:
Interest	8,990	3,562
Income taxes	7,134	70,403
Non-cash investing activity:
Capital assets purchased on account	$ 17,891	$ 49,094

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement of Cash Flows [Abstract]
Jesup mill cellulose specialties expansion, gross purchases	$ 0	$ (57,693)
Jesup mill cellulose specialties expansion, purchases on account	$ 0	$ (20,959)

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Basis of Presentation The unaudited consolidated financial statements and notes thereto of Rayonier Inc. and its subsidiaries (“Rayonier” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these financial statements and notes reflect all 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 the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as amended by Amendment No. 1 to the Form 10-K on Form 10-K/A (the “Amended Form 10-K”), as filed with the SEC. Reclassifications Certain 2013 amounts have been reclassified to agree with the current year presentation. New Accounting Standards In March 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This standard requires a parent entity to release a related foreign entity’s cumulative translation adjustment into net income only if its sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. The cumulative translation adjustment should be released into net income if the transaction results in the loss of a controlling financial interest in a foreign entity or results in an acquirer obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date. ASU No. 2013-05 became effective first quarter 2014. The adoption of this standard did not have any impact on the consolidated financial statements. In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The standard requires an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss (“NOL”) or similar carryforward or a tax credit carryforward. If an NOL or tax credit carryforward is not available at the reporting date or tax law of the applicable jurisdiction does not require the entity to use the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability. ASU 2013-11 became effective first quarter of 2014. The Company has applied the standard to its income tax balances and it did not have a material impact on the Company’s financial position. See Note 5 — Income Taxes for further information. Subsequent Events The Company evaluated events and transactions that occurred after the balance sheet date but before financial statements were issued, and no subsequent events were identified that warranted disclosure. Separation of Performance Fibers Business In January 2014, the Company announced its intention to separate the Performance Fibers business from the Forest Resources and Real Estate businesses. The separation will result in two independent, publicly-traded companies by means of a tax-free spin-off to Rayonier shareholders of a newly formed company named Rayonier Advanced Materials Inc. which will contain the Performance Fibers segment of Rayonier. The separation, which is subject to a number of conditions including final Board approval, receipt of a favorable private letter ruling from the Internal Revenue Service (“IRS”) and effectiveness of a registration statement on Form 10, is expected to be completed by mid-2014.

SALE OF WOOD PRODUCTS BUSINESS

3 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

SALE OF WOOD PRODUCTS BUSINESS

On March 1, 2013, Rayonier completed the sale of its Wood Products business (consisting of three lumber mills in Baxley, Swainsboro and Eatonton, Georgia) to International Forest Products Limited (“Interfor”) for $80 million plus a working capital adjustment. Accordingly, the operating results of the Wood Products business, formerly reported as a separate operating segment, are classified as discontinued operations in the Company’s Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2013.

Rayonier recognized an after-tax gain of $42.7 million on the sale. The gain is included in “Income from discontinued operations, net” on the Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2013.

The following table summarizes the operating results of the Company’s discontinued operations and the related gain for the three months ended March 31, 2013, as presented in “Income from discontinued operations, net” on the Consolidated Statements of Income and Comprehensive Income:



	Three Months Ended
	March 31, 2013
Sales	$	16,968
Income from discontinued operations, net	$	44,477

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

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+ Details

RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS (Notes)

3 Months Ended

Mar. 31, 2014

Accounting Changes and Error Corrections [Abstract]

Restatement of Previously Issued Consolidated Financial Statements

RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS

Subsequent to the issuance of the Original Filing, the Company identified issues related to its historical timber harvest levels, its estimate of merchantable timber inventory and the effect of such estimate on its calculation of depletion expense in the quarterly period ended March 31, 2014. The Company determined that it had understated its depletion expense in cost of goods sold (referred to as “Cost of sales” in the Company’s consolidated statements of income and comprehensive income) by approximately $2 million for the period. As a result, the financial amounts noted below have been restated from amounts previously reported.

The following tables summarize the effect of these restatements for the period:



	Consolidated Statements of Income and Comprehensive Income for the Three Months Ended March 31, 2014
	As Previously Reported			Restatement			As Restated
Operating Income	$	65,008		$	(1,969	)	$	63,039
Income Tax Expense	(7,732		)	20			(7,712		)
Income from Continuing Operations	43,292			(1,949		)	41,343
Net Income	43,292			(1,949		)	41,343
Net Income Attributable to Rayonier Inc.	43,375			(1,949		)	41,426
Basic Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations	$	0.34		(0.01		)	$	0.33
Discontinued Operations	—			—			—
Net Income	$	0.34		$	(0.01	)	$	0.33
Diluted Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations	$	0.34		(0.02		)	$	0.32
Discontinued Operations	—			—			—
Net Income	$	0.34		$	(0.02	)	$	0.32



	Consolidated Balance Sheet as of March 31, 2014
	As Previously Reported		Restatement			As Restated
Prepaid and Other Current Assets	$	54,557	$	20		$	54,577
Timber and Timberlands, Net of Depletion and Amortization	2,069,518		(1,969		)	2,067,549
Retained earnings	996,573		(1,949		)	994,624

EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

The following table provides details of the calculations of basic and diluted earnings per common share:



	Three Months Ended March 31,
	2014			2013
	(Restated)
Income from continuing operations	$	41,343		$	103,258
Less: Loss from continuing operations attributable to noncontrolling interest	(83		)	—
Income from continuing operations attributable to Rayonier Inc.	$	41,426		$	103,258

Income from discontinued operations attributable to Rayonier Inc.	$	—		$	44,477

Net income attributable to Rayonier Inc.	$	41,426		$	147,735

Shares used for determining basic earnings per common share	126,344,987			124,479,865
Dilutive effect of:
Stock options	286,535			533,031
Performance and restricted shares	83,850			448,440
Assumed conversion of Senior Exchangeable Notes (a)	1,063,538			2,115,959
Assumed conversion of warrants (a) (b)	645,583			2,859,593
Shares used for determining diluted earnings per common share	128,424,493			130,436,888
Basic earnings per common share attributable to Rayonier Inc.:
Continuing operations	$	0.33		$	0.83
Discontinued operations	—			0.36
Net income	$	0.33		$	1.19
Diluted earnings per common share attributable to Rayonier Inc.:
Continuing operations	$	0.32		$	0.79
Discontinued operations	—			0.34
Net income	$	0.32		$	1.13



	Three Months Ended March 31,
	2014	2013
Anti-dilutive shares excluded from the computations of diluted earnings per share:
Stock options, performance and restricted shares	731,046	220,701
Assumed conversion of exchangeable note hedges (a)	1,063,538	2,115,959
Total	1,794,584	2,336,660

(a) Rayonier will not issue additional shares upon future exchange or maturity of the Senior Exchangeable Notes due 2015 (the “2015 Notes”) due to offsetting hedges. Accounting Standards Codification 260, Earnings Per Share requires the assumed conversion of the 2015 Notes to be included in dilutive shares if the average stock price for the period exceeds the strike prices, while the assumed conversion of the hedges is excluded since they are anti-dilutive. As such, the full dilutive effect of the 2015 Notes was included for the three months ended March 31, 2013 and March 31, 2014.

The Senior Exchangeable Notes due 2012 (the “2012 Notes”) matured in October 2012; however, no additional shares were issued due to offsetting exchangeable note hedges. The warrants sold in conjunction with the 2012 Notes began maturing on January 15, 2013 and matured ratably through March 27, 2013. As a result, 2,037,303 shares were issued through the end of the first quarter of 2013. The dilutive impact of these warrants was calculated based on the length of time they were outstanding before settlement. Rayonier will distribute additional shares upon maturity of the warrants associated with the 2015 Notes if the stock price exceeds $38.97 per share. For further information, see Note 13 — Debt in the Amended Form 10-K and Note 16 — Debt of this Form 10-Q/A.

(b) The shares used for the assumed conversion of the warrants decreased in the first quarter of 2014 as there was no dilutive impact from the warrants on the 2012 Notes.

INCOME TAXES

3 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

INCOME TAXES

Rayonier is a real estate investment trust (“REIT”). In general, only its taxable REIT subsidiaries, whose businesses include the Company’s non-REIT qualified activities, and foreign activities, are subject to corporate income taxes. Accordingly, the provision for corporate income taxes relates principally to current and deferred taxes on taxable REIT subsidiaries’ income and foreign operations.

Alternative Fuel Mixture Credit (“AFMC”) and Cellulosic Biofuel Producer Credit (“CBPC”)

The U.S. Internal Revenue Code allowed two credits for taxpayers that produced and used an alternative fuel in the operation of their business through December 31, 2009. The AFMC is a $.50 per gallon refundable tax credit (which is not taxable), while the CBPC is a $1.01 per gallon credit that is nonrefundable, taxable and has limitations based on an entity’s tax liability. Rayonier produces and uses an alternative fuel (“black liquor”) at its Jesup, Georgia and Fernandina Beach, Florida Performance Fibers mills, which qualified for both credits. The Company claimed the AFMC on its original 2009 tax return. In the first quarter of 2013, management approved a $70 million tax payment to exchange approximately 120 million gallons of black liquor previously claimed for the AFMC for the CBPC, resulting in a $19 million tax benefit.

Provision for Income Taxes from Continuing Operations

The Company’s effective tax rate is below the 35 percent U.S. statutory tax rate primarily due to tax benefits associated with being a REIT. The Company’s effective tax rate in the prior year period was lower than 2014 primarily due to recording the above referenced AFMC exchange. Excluding the AFMC for CBPC exchange, the effective tax rate decreased in the first quarter 2014 compared to the prior year period principally due to proportionately higher earnings from REIT operations.

The table below reconciles the U.S. statutory rate to the Company’s effective tax rate for each period presented (in millions of dollars):



	Three Months Ended March 31,
	2014					2013
	(Restated)			(Restated)
Income tax expense at federal statutory rate	$	17		35.0	%	$	38		35.0	%
REIT income not subject to tax	(7		)	(14.2	)	(11		)	(10.1	)
Manufacturing deduction	(1		)	(2.2	)	(2		)	(2.2	)
Other	—			(0.1	)	—			0.7
Income tax expense before discrete items	9			18.5	%	25			23.4	%
Exchange of AFMC for CBPC	—			—		(19		)	(17.5	)
Other	(1		)	(2.8	)	(2		)	(1.8	)
Income tax expense as reported	$	8		15.7	%	$	4		4.1	%

Provision for Income Taxes from Discontinued Operations

In first quarter 2013, Rayonier completed the sale of its Wood Products business for $80 million plus a working capital adjustment. For the three months ended March 31, 2013, income tax expense related to discontinued operations was $22.3 million ($21.4 million from the gain on sale). See Note 2 — Sale of Wood Products Business for additional information.

Unrecognized Tax Benefits

During the first quarter of 2013, the Company implemented ASU 2013-11, which requires, in certain instances, an unrecognized tax benefit (or portion of an unrecognized tax benefit) to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. As a result, the Company reclassified $3.9 million from an unrecognized tax benefit liability to a reduction to current deferred tax assets at March 31, 2014.

RESTRICTED DEPOSITS	3 Months Ended
RESTRICTED DEPOSITS	Mar. 31, 2014
Restricted Cash and Investments [Abstract]
RESTRICTED DEPOSITS	RESTRICTED DEPOSITS In order to qualify for like-kind exchange (“LKE”) treatment, the proceeds from real estate sales must be deposited with a third-party intermediary. These proceeds are accounted for as restricted cash until a suitable replacement property is acquired. In the event LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. As of March 31, 2014 and December 31, 2013, the Company had $23.6 million and $68.9 million, respectively, of proceeds from real estate sales classified as restricted cash in Other Assets, which were deposited with an LKE intermediary.

JOINT VENTURE INVESTMENT

3 Months Ended

Mar. 31, 2014

Business Combinations [Abstract]

JOINT VENTURE INVESTMENT

On April 4, 2013 (the “acquisition date”), the Company acquired an additional 39 percent ownership interest in Matariki Forestry Group, a joint venture (“New Zealand JV”) that owns or leases approximately 0.3 million acres of New Zealand timberlands. As a result of the acquisition, Rayonier is a 65 percent owner of the New Zealand JV and 100 percent of the results of its operations subsequent to April 4, 2013 have been included in the Company’s consolidated financial statements, along with 100 percent of the JV’s assets and liabilities at March 31, 2014 and December 31, 2013. The portions of the consolidated financial position and results of operations attributable to the New Zealand JV’s 35 percent noncontrolling interest are also shown separately. Rayonier New Zealand Limited (“RNZ”), a wholly-owned subsidiary of Rayonier Inc., continues to serve as the manager of the New Zealand JV forests.

Prior to the acquisition date, the Company accounted for its 26 percent interest in the New Zealand JV as an equity method investment. The additional 39 percent interest was acquired for $139.9 million and resulted in the Company obtaining a controlling financial interest in the New Zealand JV and accordingly, the purchase was accounted for as a step-acquisition. Upon consolidation, the Company recognized a $10.1 million deferred gain, which resulted from the original sale of its New Zealand operations to the joint venture in 2005 and a $6 million benefit due to the required fair market value remeasurement of the Company’s equity interest in the New Zealand JV held before the purchase of the additional interest. The acquisition-date fair value of the previous equity interest was $93.3 million.

We have applied estimates and judgments in order to determine the fair value of assets acquired and liabilities assumed at the acquisition date. In determining fair value we utilized valuation methodologies including discounted cash flow analysis. The assumptions made in performing these valuations include assumptions as to discount rates, foreign exchange rates, and commodity prices.

The Company’s operating results for the three months ended March 31, 2013 reflect 26 percent of the New Zealand JV’s income prior to the acquisition date, as reported in “Equity in income of New Zealand joint venture” in the Consolidated Statements of Income and Comprehensive Income. The amounts of revenue and earnings of the New Zealand JV included in the Company’s Consolidated Statements of Income and Comprehensive Income for the first quarter 2014 are as follows:



	Three Months Ended March 31, 2014
Sales	$	37,764
Net Loss	(734		)

The following represents the pro forma Rayonier consolidated sales and net income for the three months ended March 31, 2013 as if the additional interest in the New Zealand JV had been acquired on January 1, 2012.



	Three Months Ended March 31, 2013
Sales	$	428,245
Net Income	$	146,280

SHAREHOLDERS'S EQUITY

3 Months Ended

Mar. 31, 2014

Stockholders' Equity Note [Abstract]

SHAREHOLDERS'S EQUITY

SHAREHOLDERS’ EQUITY

An analysis of shareholders’ equity for the three months ended March 31, 2014 and the year ended December 31, 2013 is shown below (share amounts not in thousands):



	Rayonier Inc. Shareholders Equity
	Common Shares					Retained Earnings (Restated)			Accumulated Other Comprehensive Income/(Loss)			Non-controlling Interest			Total Shareholders’ Equity (Restated)
	Shares		Amount			Retained Earnings (Restated)			Accumulated Other Comprehensive Income/(Loss)			Non-controlling Interest			Total Shareholders’ Equity (Restated)
Balance, December 31, 2012	123,332,444		$	670,749		$	876,634		$	(109,379	)	$	—		$	1,438,004
Net income	—		—			371,896			—			1,902			373,798
Dividends ($1.86 per share)	—		—			(233,321		)	—			—			(233,321		)
Issuance of shares under incentive stock plans	1,001,426		10,101			—			—			—			10,101
Stock-based compensation	—		11,710			—			—			—			11,710
Excess tax benefit on stock-based compensation	—		8,413			—			—			—			8,413
Repurchase of common shares	(211,221	)	(11,326		)	—			—			—			(11,326		)
Equity portion of convertible debt (Note 15)	—		2,453			—			—			—			2,453
Settlement of warrants (Note 15)	2,135,221		—			—			—			—			—
Net gain from pension and postretirement plans	—		—			—			61,869			—			61,869
Acquisition of noncontrolling interest	—		—			—			—			96,336			96,336
Noncontrolling interest redemption of shares	—		—			—			—			(713		)	(713		)
Foreign currency translation adjustment	—		—			—			(1,915		)	(3,795		)	(5,710		)
Joint venture cash flow hedges	—		—			—			3,286			343			3,629
Balance, December 31, 2013	126,257,870		$	692,100		$	1,015,209		$	(46,139	)	$	94,073		$	1,755,243
Net income (loss)	—		—			41,426			—			(83		)	41,343
Dividends ($0.49 per share)	—		—			(62,011		)	—			—			(62,011		)
Issuance of shares under incentive stock plans	235,843		2,027			—			—			—			2,027
Stock-based compensation	—		3,103			—			—			—			3,103
Excess tax deficiency on stock-based compensation	—		(1,240		)	—			—			—			(1,240		)
Repurchase of common shares	(42,208	)	(1,754		)	—			—			—			(1,754		)
Amortization of pension and postretirement plans	—		—			—			2,097			—			2,097
Noncontrolling interest redemption of shares	—		—			—			—			(679		)	(679		)
Foreign currency translation adjustment	—		—			—			12,893			4,910			17,803
Joint venture cash flow hedges	—		—			—			1,112			599			1,711
Balance, March 31, 2014	126,451,505		$	694,236		$	994,624		$	(30,037	)	$	98,820		$	1,757,643

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

SEGMENT AND GEOGRAPHICAL INFORMATION

3 Months Ended

Mar. 31, 2014

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

SEGMENT AND GEOGRAPHICAL INFORMATION

Rayonier operates in three reportable business segments: Forest Resources, Real Estate and Performance Fibers. Forest Resources sales include all activities related to the harvesting of timber. Real Estate sales include all property sales, including those designated for higher and better use (“HBU”). The assets of the Real Estate segment include HBU property held by the Company’s real estate subsidiary, TerraPointe LLC. The Performance Fibers segment includes two major product lines, cellulose specialties and commodity grade products (primarily viscose). The Company’s remaining operations include harvesting and selling timber acquired from third parties (log trading). These operations are reported in “Other Operations.” Sales between operating segments are made based on estimated fair market value, and intercompany sales, purchases and profits (losses) are eliminated in consolidation. The Company evaluates financial performance based on the operating income of the segments.

Operating income (loss) as presented in the Consolidated Statements of Income and Comprehensive Income is equal to segment income (loss). Certain income (loss) items in the Consolidated Statements of Income and Comprehensive Income are not allocated to segments. These items, which include gains (losses) from certain asset dispositions, interest income (expense), miscellaneous income (expense) and income tax (expense) benefit, are not considered by management to be part of segment operations.

Total assets, sales, operating income (loss) and depreciation, depletion and amortization by segment including Corporate were as follows:



	March 31,		December 31,
	2014		2013
ASSETS	(Restated)
Forest Resources	$	2,187,498	$	2,162,913
Real Estate	113,376		149,001
Performance Fibers	1,095,574		1,078,645
Other Operations	35,121		37,334
Corporate and other	211,260		257,608
Total	$	3,642,829	$	3,685,501



	Three Months Ended March 31,
SALES	2014			2013
Forest Resources (a)	$	104,678		$	57,102
Real Estate	5,530			24,297
Performance Fibers	241,768			284,188
Other Operations	37,417			28,227
Intersegment Eliminations	(2,707		)	(95		)
Total	$	386,686		$	393,719


(a)	First quarter 2014 included $38 million in sales from the consolidation of the New Zealand JV. See Note 7 — Joint Venture Investment.



	Three Months Ended March 31,
	2014			2013
OPERATING INCOME	(Restated)
Forest Resources	$	25,546		$	13,255
Real Estate	725			16,842
Performance Fibers	48,980			91,670
Other Operations	184			165
Corporate and other (a)	(12,396		)	(6,569		)
Total	$	63,039		$	115,363


(a)	First quarter 2014 included $3.3 million of separation costs related to the planned separation of the Performance Fibers business from the Forest Resources and Real Estate businesses.



	Three Months Ended March 31,
	2014		2013
DEPRECIATION, DEPLETION AND AMORTIZATION	(Restated)
Forest Resources (a)	26,887		$	16,444
Real Estate	910		4,177
Performance Fibers	20,649		15,153
Corporate and other	282		218
Total	$	48,728	$	35,992


(a)	2014 included an increase of approximately $7 million in depletion expenses related to the consolidation of the New Zealand JV. See Note 7 — Joint Venture Investment.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES

The Company is exposed to market risk related to potential fluctuations in foreign currency exchange rates, interest rates and fuel prices. The Company’s New Zealand JV uses derivative financial instruments to mitigate the financial impact of exposure to these risks.

Accounting for derivative financial instruments is governed by Accounting Standards Codification Topic 815, Derivatives and Hedging, (“ASC 815”). In accordance with ASC 815, the Company records its derivative instruments at fair value as either assets or liabilities in the Consolidated Balance Sheets. Changes in the instruments’ fair value are accounted for based on their intended use. Gains and losses on derivatives that are designated and qualify for cash flow hedge accounting are recorded as a component of accumulated other comprehensive income (“AOCI”) and reclassified into earnings when the hedged transaction materializes. The ineffective portion of any hedge as well as 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 functional currency of the New Zealand JV is the New Zealand dollar. These operations are exposed to foreign currency risk on export sales and ocean freight payments which are predominately denominated in US dollars. The New Zealand JV typically hedges at least 70 percent of its estimated foreign currency exposure with respect to the following three months forecasted sales and purchases and 50 percent of the forward twelve months.

The fair value of foreign currency exchange contracts is determined by a mark-to-market valuation which estimates fair value by discounting the difference between the contracted forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate. The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black Scholes option pricing model.

Interest Rate Swaps

The Company uses interest rate swaps to manage the New Zealand JV’s exposure to interest rate movements on its variable rate debt attributable to changes in the New Zealand Bank bill rate. By converting a portion of these borrowings from floating rates to fixed rates the Company has reduced the impact of interest rate changes on its expected future cash outflows. As of March 31, 2014, the Company’s interest rate contracts hedged 88 percent of the New Zealand JV’s variable rate debt and had maturity dates through January 2020.

Fuel Hedge Contracts

The Company uses fuel swap contracts to manage its New Zealand JV’s exposure to changes in New Zealand’s domestic diesel prices. The fuel swaps are quoted by domestic banks in New Zealand dollar price terms. As of March 31, 2014 all of the contracts had maturities of less than one year. The fair value of the fuel swap 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.

The following table demonstrates the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2014. No derivative balances were consolidated prior to the Company’s acquisition of a controlling interest in the New Zealand JV in the second quarter of 2013.



		Three Months Ended
	Income Statement Location	March 31, 2014
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive income (loss)	$	1,487
Foreign currency option contracts	Other comprehensive income (loss)	725

Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating expense (income)	25
Foreign currency option contracts	Other operating expense (income)	7
Interest rate swaps	Interest and miscellaneous (expense) income, net	(1,134		)
Fuel hedge contracts	Cost of sales	317

During the next 12 months, the amount of the March 31, 2014 AOCI balance, net of tax, expected to be reclassified into earnings as a result of the maturation of the Company’s derivative instruments is a gain of approximately $2.7 million.

The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets:



	Notional Amount (a)
	March 31, 2014		December 31, 2013
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	$	37,064	$	32,300
Foreign currency option contracts	37,500		38,000

Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	$	—	$	1,950
Foreign currency option contracts	—		4,000
Interest rate swaps	179,066		183,851
Fuel hedge contracts	25		38


(a)	All notional amounts are stated in thousands of dollars except fuel contracts which are denominated in thousands of barrels.

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)
		March 31, 2014			December 31, 2013
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Prepaid and other current assets	$	2,616		$	915
	Other current liabilities	(84		)	—
Foreign currency option contracts	Prepaid and other current assets	1,333			673
	Other current liabilities	(90		)	(214		)

Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Prepaid and other current assets	$	—		$	25
Foreign currency option contracts	Prepaid and other current assets	—			8
Interest rate swaps	Other non-current liabilities	(5,145		)	(4,659		)
Fuel hedge contracts	Prepaid and other current assets	—			160
	Other current liabilities	(159		)	—

Total derivative contracts:
Prepaid and other current assets		$	3,949		$	1,781

Other current liabilities		(333		)	(214		)
Other non-current liabilities		(5,145		)	(4,659		)
Total derivative liabilities		$	(5,478	)	$	(4,873	)


(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. The Company’s derivative financial instruments are not subject to master netting arrangements which would allow the right of offset.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Fair Value of Financial Instruments

The Accounting Standards Codification established a three-level hierarchy that prioritizes the inputs used to measure fair value 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, estimated fair values and categorization under the fair value hierarchy of financial instruments held by the Company at March 31, 2014 and December 31, 2013, using market information and what management believes to be appropriate valuation methodologies under generally accepted accounting principles:



	March 31, 2014								December 31, 2013
Asset (liability)	Carrying Amount			Fair Value					Carrying Amount			Fair Value
				Level 1		Level 2						Level 1		Level 2
Cash and cash equivalents	$	156,071		$	156,071	$	—		$	199,644		$	199,644	$	—
Restricted cash (a)	23,633			23,633		—			68,944			68,944		—
Current maturities of long-term debt	(114,319		)	—		(122,187		)	(112,500		)	—		(119,614		)
Long-term debt	(1,393,887		)	—		(1,451,984		)	(1,461,724		)	—		(1,489,810		)
Interest rate swaps (b)	(5,145		)	—		(5,145		)	(4,659		)	—		(4,659		)
Foreign currency exchange contracts (b)	2,532			—		2,532			940			—		940
Foreign currency option contracts (b)	1,243			—		1,243			467			—		467
Fuel contracts (b)	(159		)	—		(159		)	160			—		160


(a)	Restricted cash is recorded in “Other Assets” and represents the proceeds from LKE sales deposited with a third-party intermediary.


(b)	See Note 10 — Derivative Financial Instruments and Hedging Activities for information regarding the Balance Sheet classification of the Company’s derivative financial instruments.

Rayonier uses the following methods and assumptions in estimating the fair value of its financial instruments:

Cash and cash equivalents and Restricted cash — The carrying amount is equal to fair market value.

Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities. The variable rate debt adjusts with changes in the market rate, therefore the carrying value approximates fair value.

Interest rate swap agreements — The fair value of interest rate contracts is determined by discounting the expected future cash flows, for each instrument, at prevailing interest rates.

Foreign currency exchange contracts — The fair value of foreign currency exchange contracts is determined by a mark-to-market valuation which estimates fair value by discounting the difference between the contracted forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate.

Foreign currency option contracts — The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black-Scholes option pricing model.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

GUARANTEES

3 Months Ended

Mar. 31, 2014

Guarantees [Abstract]

GUARANTEES

The Company provides financial guarantees as required by creditors, insurance programs, and various governmental agencies. As of March 31, 2014, the following financial guarantees were outstanding:



Financial Commitments	Maximum Potential Payment		Carrying Amount of Associated Liability
Standby letters of credit (a)	$	17,355	$	15,000
Guarantees (b)	2,254		43
Surety bonds (c)	5,498		1,099
Total financial commitments	$	25,107	$	16,142


(a)	Approximately $15 million of the standby letters of credit serve as credit support for industrial revenue bonds. The remaining letters of credit support various insurance related agreements, primarily workers’ compensation and pollution liability policy requirements. These letters of credit will expire at various dates during 2014 and will be renewed as required.

(b)

In conjunction with a timberland sale and note monetization in the first quarter of 2004, the Company issued a make-whole agreement pursuant to which it guaranteed $2.3 million of obligations of a special-purpose entity that was established to complete the monetization. At March 31, 2014, the Company has a de minimus liability to reflect the fair market value of its obligation to perform under the make-whole agreement.


(c)	Rayonier issues surety bonds primarily to secure timber harvesting obligations in the State of Washington and to provide collateral for the Company’s workers’ compensation self-insurance program in that state. These surety bonds expire at various dates during 2014 and 2015 and are expected to be renewed as required.

LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2014

Liabilities of Disposal Group, Including Discontinued Operation [Abstract]

LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS

An analysis of the liabilities for dispositions and discontinued operations follows:



	March 31,			December 31,
	2014			2013
Balance, beginning of period	$	76,378		$	81,695
Expenditures charged to liabilities	(2,498		)	(8,570		)
Increase to liabilities	22			3,253
Balance, end of period	73,902			76,378
Less: Current portion	(6,446		)	(6,835		)
Non-current portion	$	67,456		$	69,543

These prior dispositions and discontinued operations are exposed to the risk of reasonably possible additional losses in excess of the established liabilities. As of March 31, 2014, this amount could range up to $30 million, attributable to several of the applicable sites, and arises from uncertainty over the availability, feasibility and effectiveness of certain remediation technologies, additional or different contamination that may be discovered, development of new or more effective environmental remediation technologies, potential changes in applicable law and regulations, and the exercise of discretion in interpretation of applicable law and regulations by governmental agencies.

Management believes established liabilities are sufficient for probable costs expected to be incurred over the next 20 years with respect to its dispositions and discontinued operations. Remedial actions for these sites vary, but include on-site (and in certain cases off-site) removal or treatment of contaminated soils and sediments, recovery and treatment/remediation of groundwater, and source remediation and/or control.

CONTINGENCIES	3 Months Ended
CONTINGENCIES	Mar. 31, 2014
Loss Contingency [Abstract]
CONTINGENCIES	CONTINGENCIES Rayonier is engaged in various legal actions, including certain environmental proceedings, and has been named as a defendant in various other lawsuits and claims arising in the normal course of business. While the Company has procured reasonable and customary insurance covering risks normally occurring in connection with its businesses, it has in certain cases retained some risk through the operation of self-insurance, primarily in the areas of workers’ compensation, property insurance and general liability. These other lawsuits and claims, either individually or in the aggregate, are not expected to have a material adverse effect on the Company’s financial position, results of operations, or cash flow.

EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2014

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

EMPLOYEE BENEFIT PLANS

The Company has four qualified non-contributory defined benefit pension plans covering a significant majority of its employees and an unfunded plan that provides benefits in excess of amounts allowable under current tax law in the qualified plans. Currently, all qualified plans are closed to new participants. Employee benefit plan liabilities are calculated using actuarial estimates and management assumptions. These estimates are based on historical information, along with certain assumptions about future events. Changes in assumptions, as well as changes in actual experience, could cause the estimates to change.

The net pension and postretirement benefit costs that have been recorded are shown in the following tables:



	Pension						Postretirement
	Three Months Ended March 31,						Three Months Ended March 31,
	2014			2013			2014			2013
Components of Net Periodic Benefit Cost
Service cost	$	1,624		$	2,419		$	179		$	249
Interest cost	4,683			4,834			206			240
Expected return on plan assets	(6,658		)	(7,424		)	—			—
Amortization of prior service cost	292			388			4			6
Amortization of losses	2,737			5,727			129			218
Amortization of negative plan amendment	—			—			(134		)	—
Net periodic benefit cost	$	2,678		$	5,944		$	384		$	713

In 2014, the Company has no mandatory pension contribution requirements, but may make discretionary contributions.

DEBT	3 Months Ended
DEBT	Mar. 31, 2014
Debt Disclosure [Abstract]
DEBT	DEBT As of December 31, 2013, the 2015 Notes became exchangeable at the option of the holders for the calendar quarter ended March 31, 2014. According to the indenture, in order for the notes to become exchangeable, the Company’s stock price must exceed 130 percent of the exchange price for 20 trading days during a period of 30 consecutive trading days as of the last day of the quarter. During the quarter ended March 31, 2014, the note holders did not elect to exercise the exchange option. Based upon the average stock price for the 30 trading days ended March 31, 2014, these notes again became exchangeable at the option of the holder for the calendar quarter ending June 30, 2014. The entire balance of the notes is classified as long-term debt at March 31, 2014 due to the ability and intent of the Company to refinance them on a long-term basis. During the three months ended March 31, 2014, the Company made net repayments of $80 million on its unsecured revolving credit facility. The Company had $323 million of available borrowings under this facility at March 31, 2014, net of $2 million to secure its outstanding letters of credit. During the three months ended March 31, 2014, the New Zealand JV borrowed $1.8 million on its working capital facility. Additional draws totaling $18.1 million remain available on the facility. There were no other significant changes to the Company’s outstanding debt as reported in Note 13 — Debt in the Company’s Amended Form 10-K.

ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2014

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table summarizes the changes in AOCI by component for the three months ended March 31, 2014. All amounts are presented net of tax and exclude portions attributable to noncontrolling interest.



	Foreign currency translation gains		New Zealand joint venture cash flow hedges			Unrecognized components of employee benefit plans				Total
Balance as of December 31, 2013	$	36,914	$	(342	)	$	(82,711	)		$	(46,139	)
Other comprehensive income before reclassifications	12,893		1,604			—				14,497
Amounts reclassified from accumulated other comprehensive income	—		(492		)	2,097			(a)	1,605
Net other comprehensive income	12,893		1,112			2,097				16,102
Balance as of March 31, 2014	$	49,807	$	770		$	(80,614	)		$	(30,037	)


(a)	This accumulated other comprehensive income component is included in the computation of net periodic pension cost. See Note 15 — Employee Benefit Plans for additional information.

The following table presents details of the amounts reclassified in their entirety from AOCI for the three months ended March 31, 2014:



Details about accumulated other comprehensive income components	Amount reclassified from accumulated other comprehensive income			Affected line item in the income statement
Realized gain on foreign currency exchange contracts	$	(872	)	Other operating (income) expense, net
Realized gain on foreign currency option contracts	(107		)	Other operating (income) expense, net
Noncontrolling interest	343			Comprehensive income (loss) attributable to noncontrolling interest
Income tax expense	144			Income tax expense
Net gain reclassified from accumulated other comprehensive income	$	(492	)

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

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-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

OTHER OPERATING (EXPENSE) INCOME, NET

3 Months Ended

Mar. 31, 2014

Other Operating Income, Net [Abstract]

OTHER OPERATING (EXPENSE) INCOME, NET

Other operating (expense) income, net was comprised of the following:



	Three Months Ended March 31,
	2014			2013
Lease income, primarily from hunting leases	$	3,036		$	2,462
Other non-timber income	552			474
Foreign currency loss	(1,490		)	(184		)
Loss on sale or disposal of property, plant & equipment	(532		)	(429		)
(Loss) gain on foreign currency exchange contracts	(32		)	1,881
Separation costs related to Rayonier Advanced Materials Inc.	(3,318		)	(86		)
Miscellaneous expense, net	(1,753		)	(615		)
Total	$	(3,537	)	$	3,503

CONSOLIDATING FINANCIAL STATEMENTS

3 Months Ended

Mar. 31, 2014

CONSOLIDATING FINANCIAL STATEMENTS [Abstract]

CONSOLIDATING FINANCIAL STATEMENTS

The condensed consolidating financial information below follows the same accounting policies as described in the consolidated financial statements, except for the use of the equity method of accounting to reflect ownership interests in wholly-owned subsidiaries, which are eliminated upon consolidation, and the allocation of certain expenses of Rayonier Inc. incurred for the benefit of its subsidiaries.

In August 2009 TRS issued $172.5 million of 4.50% Senior Exchangeable Notes due 2015. The notes are guaranteed by Rayonier Inc. as the Parent Guarantor and Rayonier Operating Company LLC (“ROC”) as the Subsidiary Guarantor. In connection with these exchangeable notes, the Company provides the following condensed consolidating financial information in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.



	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2014
	Rayonier Inc. (Parent Guarantor)			ROC (Subsidiary Guarantor)			Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors			Consolidating Adjustments			Total Consolidated
	(Restated)			(Restated)						(Restated)			(Restated)			(Restated)
SALES	$	—		$	—		$	—		$	386,686		$	—		$	386,686
Costs and Expenses
Cost of sales	—			—			—			304,619			—			304,619
Selling and general expenses	—			2,150			—			13,341			—			15,491
Other operating expense, net	—			2,375			—			1,162			—			3,537
	—			4,525			—			319,122			—			323,647
OPERATING (LOSS) INCOME	—			(4,525		)	—			67,564			—			63,039
Interest expense	(3,193		)	(243		)	(6,690		)	(2,843		)	—			(12,969		)
Interest and miscellaneous income (expense), net	2,698			814			(1,047		)	(3,480		)	—			(1,015		)
Equity in income from subsidiaries	41,921			46,478			31,110			—			(119,509		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	41,426			42,524			23,373			61,241			(119,509		)	49,055
Income tax (expense) benefit	—			(603		)	2,824			(9,933		)	—			(7,712		)
NET INCOME	41,426			41,921			26,197			51,308			(119,509		)	41,343
Less: Net loss attributable to noncontrolling interest	—			—			—			(83		)	—			(83		)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,426			41,921			26,197			51,391			(119,509		)	41,426
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	12,894			12,893			766			17,795			(26,545		)	17,803
New Zealand joint venture cash flow hedges	1,112			1,112			1,112			1,711			(3,336		)	1,711
Amortization of pension and postretirement plans, net of income tax	2,097			2,097			1,620			1,620			(5,337		)	2,097
Total other comprehensive income	16,103			16,102			3,498			21,126			(35,218		)	21,611
COMPREHENSIVE INCOME	57,529			58,023			29,695			72,434			(154,727		)	62,954
Less: Comprehensive income attributable to noncontrolling interest	—			—			—			5,425			—			5,425
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	$	57,529		$	58,023		$	29,695		$	67,009		$	(154,727	)	$	57,529



	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2013
	Rayonier Inc. (Parent Guarantor)			ROC (Subsidiary Guarantor)			Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	$	—		$	—		$	—		$	393,719		$	—		$	393,719
Costs and Expenses
Cost of sales	—			—			—			266,018			—			266,018
Selling and general expenses	—			2,401			—			13,698			—			16,099
Other operating (income) expense, net	(1,881		)	523			—			(2,145		)	—			(3,503		)
	(1,881		)	2,924			—			277,571			—			278,614
Equity in income of New Zealand joint venture	—			—			—			258			—			258
OPERATING INCOME (LOSS)	1,881			(2,924		)	—			116,406			—			115,363
Interest (expense) income	(3,275		)	(252		)	(6,618		)	2,428			—			(7,717		)
Interest and miscellaneous income (expense), net	2,419			529			(751		)	(2,140		)	—			57
Equity in income from subsidiaries	146,710			148,765			123,469			—			(418,944		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	147,735			146,118			116,100			116,694			(418,944		)	107,703
Income tax benefit (expense)	—			592			2,690			(7,727		)	—			(4,445		)
INCOME FROM CONTINUING OPERATIONS	147,735			146,710			118,790			108,967			(418,944		)	103,258
DISCONTINUED OPERATIONS, NET
Income from discontinued operations, net of income tax	—			—			—			44,477			—			44,477
NET INCOME	147,735			146,710			118,790			153,444			(418,944		)	147,735
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	975			975			240			975			(2,190		)	975
New Zealand joint venture cash flow hedges	554			554			—			554			(1,108		)	554
Amortization of pension and postretirement plans, net of income tax	4,969			4,969			4,012			—			(8,981		)	4,969
Total other comprehensive income	6,498			6,498			4,252			1,529			(12,279		)	6,498
COMPREHENSIVE INCOME	$	154,233		$	153,208		$	123,042		$	154,973		$	(431,223	)	$	154,233



	CONDENSED CONSOLIDATING BALANCE SHEETS As of March 31, 2014
	Rayonier Inc. (Parent Guarantor)		ROC (Subsidiary Guarantor)		Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors		Consolidating Adjustments			Total Consolidated
	(Restated)		(Restated)					(Restated)		(Restated)			(Restated)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	93,840	$	4,494	$	(178	)	$	57,915	$	—		$	156,071
Accounts receivable, less allowance for doubtful accounts	—		10		689			110,998		—			111,697
Inventory	—		—		—			141,928		—			141,928
Deferred tax assets	—		—		646			30,934		—			31,580
Prepaid and other current assets	—		6,582		3			47,992		—			54,577
Total current assets	93,840		11,086		1,160			389,767		—			495,853
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—		—			2,067,549		—			2,067,549
NET PROPERTY, PLANT AND EQUIPMENT	—		2,698		—			859,271		—			861,969
INVESTMENT IN SUBSIDIARIES	1,675,347		1,851,260		1,170,755			—		(4,697,362		)	—
INTERCOMPANY NOTES RECEIVABLE	216,844		—		20,866			—		(237,710		)	—
OTHER ASSETS	3,569		32,705		3,496			177,688		—			217,458
TOTAL ASSETS	$	1,989,600	$	1,897,749	$	1,196,277		$	3,494,275	$	(4,935,072	)	$	3,642,829
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	—	$	1,054	$	2,102		$	83,126	$	—		$	86,282
Current maturities of long-term debt	—		—		112,500			1,819		—			114,319
Accrued taxes	—		14		—			11,360		—			11,374
Accrued payroll and benefits	—		8,038		—			11,223		—			19,261
Accrued interest	5,777		669		3,723			25,112		(21,424		)	13,857
Accrued customer incentives	—		—		—			10,082		—			10,082
Other current liabilities	—		9,058		—			26,812		—			35,870
Current liabilities for dispositions and discontinued operations	—		—		—			6,446		—			6,446
Total current liabilities	5,777		18,833		118,325			175,980		(21,424		)	297,491
LONG-TERM DEBT	325,000		—		768,228			300,659		—			1,393,887
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	—		—		—			67,456		—			67,456
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		91,807		—			3,291		—			95,098
OTHER NON-CURRENT LIABILITIES	—		13,763		—			17,491		—			31,254
INTERCOMPANY PAYABLE	—		97,999		—			151,938		(249,937		)	—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,658,823		1,675,347		309,724			2,678,640		(4,663,711		)	1,658,823
Noncontrolling interest	—		—		—			98,820		—			98,820
TOTAL SHAREHOLDERS’ EQUITY	1,658,823		1,675,347		309,724			2,777,460		(4,663,711		)	1,757,643
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,989,600	$	1,897,749	$	1,196,277		$	3,494,275	$	(4,935,072	)	$	3,642,829



	CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2013
	Rayonier Inc. (Parent Guarantor)		ROC (Subsidiary Guarantor)		Rayonier TRS Holdings Inc. (Issuer)		Non- guarantors		Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	130,181	$	304	$	10,719	$	58,440	$	—		$	199,644
Accounts receivable, less allowance for doubtful accounts	—		10		2,300		92,646		—			94,956
Inventory	—		—		—		138,818		—			138,818
Deferred tax assets	—		—		681		38,419		—			39,100
Prepaid and other current assets	—		2,363		6		44,207		—			46,576
Total current assets	130,181		2,677		13,706		372,530		—			519,094
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—		—		2,049,378		—			2,049,378
NET PROPERTY, PLANT AND EQUIPMENT	—		2,612		—		858,209		—			860,821
INVESTMENT IN SUBSIDIARIES	1,627,315		1,837,760		1,148,221		—		(4,613,296		)	—
INTERCOMPANY NOTES RECEIVABLE	228,032		—		20,659		—		(248,691		)	—
OTHER ASSETS	3,689		32,519		3,739		216,261		—			256,208
TOTAL ASSETS	$	1,989,217	$	1,875,568	$	1,186,325	$	3,496,378	$	(4,861,987	)	$	3,685,501
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	—	$	1,522	$	1,564	$	66,207	$	—		$	69,293
Current maturities of long-term debt	—		—		112,500		—		—			112,500
Accrued taxes	—		4,855		—		3,696		—			8,551
Accrued payroll and benefits	—		11,382		—		13,566		—			24,948
Accrued interest	3,047		538		2,742		22,816		(19,612		)	9,531
Accrued customer incentives	—		—		—		9,580		—			9,580
Other current liabilities	—		8,765		—		26,109		—			34,874
Current liabilities for dispositions and discontinued operations	—		—		—		6,835		—			6,835
Total current liabilities	3,047		27,062		116,806		148,809		(19,612		)	276,112
LONG-TERM DEBT	325,000		—		847,749		288,975		—			1,461,724
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	—		—		—		69,543		—			69,543
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		91,471		—		4,183		—			95,654
OTHER NON-CURRENT LIABILITIES	—		11,493		—		15,732		—			27,225
INTERCOMPANY PAYABLE	—		118,227		—		125,921		(244,148		)	—
TOTAL SHAREHOLDERS’ EQUITY	1,661,170		1,627,315		221,770		2,843,215		(4,598,227		)	1,755,243
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,989,217	$	1,875,568	$	1,186,325	$	3,496,378	$	(4,861,987	)	$	3,685,501



	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2014
	Rayonier Inc. (Parent Guarantor)			ROC (Subsidiary Guarantor)			Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES	$	25,931		$	32,794		$	—		$	67,759		$	(27,210	)	$	99,274
INVESTING ACTIVITIES
Capital expenditures	—			(170		)	—			(36,585		)	—			(36,755		)
Purchase of timberlands	—			—			—			(10,637		)	—			(10,637		)
Change in restricted cash	—			—			—			45,312			—			45,312
Investment in Subsidiaries	—			—			69,103			—			(69,103		)	—
Other	—			—			—			1,592			—			1,592
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	—			(170		)	69,103			(318		)	(69,103		)	(488		)
FINANCING ACTIVITIES
Issuance of debt	—			—			30,000			1,819			—			31,819
Repayment of debt	—			—			(110,000		)	—			—			(110,000		)
Dividends paid	(62,545		)	—			—			—			—			(62,545		)
Proceeds from the issuance of common shares	2,027			—			—			—			—			2,027
Excess tax deficiencies on stock-based compensation	—			—			—			(1,240		)	—			(1,240		)
Repurchase of common shares	(1,754		)	—			—			—			—			(1,754		)
Intercompany distributions	—			(28,434		)	—			(67,879		)	96,313			—
Other	—			—			—			(679		)	—			(679		)
CASH USED FOR FINANCING ACTIVITIES	(62,272		)	(28,434		)	(80,000		)	(67,979		)	96,313			(142,372		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			—			13			—			13
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(36,341		)	4,190			(10,897		)	(525		)	—			(43,573		)
Balance, beginning of year	130,181			304			10,719			58,440			—			199,644
Balance, end of period	$	93,840		$	4,494		$	(178	)	$	57,915		$	—		$	156,071



	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2013
	Rayonier Inc. (Parent Guarantor)			ROC (Subsidiary Guarantor)			Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES	$	13,984		$	22,259		$	—		$	58,980		$	(5,563	)	$	89,660
INVESTING ACTIVITIES
Capital expenditures	—			(89		)	—			(32,575		)	—			(32,664		)
Purchase of timberlands	—			—			—			(1,560		)	—			(1,560		)
Jesup mill cellulose specialties expansion	—			—			—			(36,734		)	—			(36,734		)
Proceeds from disposition of Wood Products business	—			—			—			83,741			—			83,741
Change in restricted cash	—			—			—			9,908			—			9,908
Investment in Subsidiaries	—			—			32,391			—			(32,391		)	—
Other	—			—			—			1,790			—			1,790
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	—			(89		)	32,391			24,570			(32,391		)	24,481
FINANCING ACTIVITIES
Issuance of debt	100,000			—			—			—			—			100,000
Repayment of debt	(150,000		)	—			(20,000		)	—			—			(170,000		)
Dividends paid	(57,744		)	—			—			—			—			(57,744		)
Proceeds from the issuance of common shares	4,091			—			—			—			—			4,091
Excess tax benefits on stock-based compensation	—			—			—			6,191			—			6,191
Repurchase of common shares	(11,241		)	—			—			—			—			(11,241		)
Intercompany distributions	—			(5,206		)	—			(32,748		)	37,954			—
CASH USED FOR FINANCING ACTIVITIES	(114,894		)	(5,206		)	(20,000		)	(26,557		)	37,954			(128,703		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			—			(17		)	—			(17		)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(100,910		)	16,964			12,391			56,976			—			(14,579		)
Balance, beginning of year	252,888			3,966			19,358			4,384			—			280,596
Balance, end of period	$	151,978		$	20,930		$	31,749		$	61,360		$	—		$	266,017

In March 2012, Rayonier Inc. issued $325 million of 3.75% Senior Notes due 2022. The notes are fully and unconditionally guaranteed by ROC and Rayonier TRS Holdings Inc. In connection with these notes, the Company provides the following consolidating financial information in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.



	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2014
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
	(Restated)			(Restated)			(Restated)			(Restated)			(Restated)
SALES	$	—		$	—		$	386,686		$	—		$	386,686
Costs and Expenses
Cost of sales	—			—			304,619			—			304,619
Selling and general expenses	—			2,150			13,341			—			15,491
Other operating expense, net	—			2,375			1,162			—			3,537
	—			4,525			319,122			—			323,647
OPERATING (LOSS) INCOME	—			(4,525		)	67,564			—			63,039
Interest expense	(3,193		)	(6,933		)	(2,843		)	—			(12,969		)
Interest and miscellaneous income (expense), net	2,698			(233		)	(3,480		)	—			(1,015		)
Equity in income from subsidiaries	41,921			51,391			—			(93,312		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	41,426			39,700			61,241			(93,312		)	49,055
Income tax benefit (expense)	—			2,221			(9,933		)	—			(7,712		)
NET INCOME	41,426			41,921			51,308			(93,312		)	41,343
Less: Net loss attributable to noncontrolling interest	—			—			(83		)	—			(83		)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,426			41,921			51,391			(93,312		)	41,426
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	12,894			12,892			17,795			(25,778		)	17,803
New Zealand joint venture cash flow hedges	1,112			1,112			1,711			(2,224		)	1,711
Amortization of pension and postretirement plans, net of income tax	2,097			2,097			1,620			(3,717		)	2,097
Total other comprehensive income	16,103			16,101			21,126			(31,719		)	21,611
COMPREHENSIVE INCOME	57,529			58,022			72,434			(125,031		)	62,954
Less: Comprehensive income attributable to noncontrolling interest	—			—			5,425			—			5,425
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	$	57,529		$	58,022		$	67,009		$	(125,031	)	$	57,529



	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2013
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	$	—		$	—		$	393,719		$	—		$	393,719
Costs and Expenses
Cost of sales	—			—			266,018			—			266,018
Selling and general expenses	—			2,401			13,698			—			16,099
Other operating (income) expense, net	(1,881		)	523			(2,145		)	—			(3,503		)
	(1,881		)	2,924			277,571			—			278,614
Equity in income of New Zealand joint venture	—			—			258			—			258
OPERATING INCOME (LOSS)	1,881			(2,924		)	116,406			—			115,363
Interest (expense) income	(3,275		)	(6,870		)	2,428			—			(7,717		)
Interest and miscellaneous income (expense), net	2,419			(222		)	(2,140		)	—			57
Equity in income from subsidiaries	146,710			153,444			—			(300,154		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	147,735			143,428			116,694			(300,154		)	107,703
Income tax benefit (expense)	—			3,282			(7,727		)	—			(4,445		)
INCOME FROM CONTINUING OPERATIONS	147,735			146,710			108,967			(300,154		)	103,258
DISCONTINUED OPERATIONS, NET
Income from discontinued operations, net of income taxes	—			—			44,477			—			44,477
NET INCOME	147,735			146,710			153,444			(300,154		)	147,735
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	975			975			975			(1,950		)	975
New Zealand joint venture cash flow hedges	554			554			554			(1,108		)	554
Amortization of pension and postretirement plans, net of income tax	4,969			4,969			—			(4,969		)	4,969
Total other comprehensive income	6,498			6,498			1,529			(8,027		)	6,498
COMPREHENSIVE INCOME	$	154,233		$	153,208		$	154,973		$	(308,181	)	$	154,233



	CONDENSED CONSOLIDATING BALANCE SHEETS As of March 31, 2014
	Rayonier Inc. (Parent Issuer)		Subsidiary Guarantors		Non- guarantors		Consolidating Adjustments			Total Consolidated
	(Restated)		(Restated)		(Restated)		(Restated)			(Restated)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	93,840	$	4,316	$	57,915	$	—		$	156,071
Accounts receivable, less allowance for doubtful accounts	—		699		110,998		—			111,697
Inventory	—		—		141,928		—			141,928
Deferred tax asset	—		646		30,934		—			31,580
Prepaid and other current assets	—		6,585		47,992		—			54,577
Total current assets	93,840		12,246		389,767		—			495,853
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—		2,067,549		—			2,067,549
NET PROPERTY, PLANT AND EQUIPMENT	—		2,698		859,271		—			861,969
INVESTMENT IN SUBSIDIARIES	1,675,347		2,712,291		—		(4,387,638		)	—
INTERCOMPANY NOTES RECEIVABLE	216,844		20,866		—		(237,710		)	—
OTHER ASSETS	3,569		36,201		177,688		—			217,458
TOTAL ASSETS	$	1,989,600	$	2,784,302	$	3,494,275	$	(4,625,348	)	$	3,642,829
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	—	$	3,156	$	83,126	$	—		$	86,282
Current maturities of long-term debt	—		112,500		1,819		—			114,319
Accrued taxes	—		14		11,360		—			11,374
Accrued payroll and benefits	—		8,038		11,223		—			19,261
Accrued interest	5,777		4,392		25,112		(21,424		)	13,857
Accrued customer incentives	—		—		10,082		—			10,082
Other current liabilities	—		9,058		26,812		—			35,870
Current liabilities for dispositions and discontinued operations	—		—		6,446		—			6,446
Total current liabilities	5,777		137,158		175,980		(21,424		)	297,491
LONG-TERM DEBT	325,000		768,228		300,659		—			1,393,887
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	—		—		67,456		—			67,456
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		91,807		3,291		—			95,098
OTHER NON-CURRENT LIABILITIES	—		13,763		17,491		—			31,254
INTERCOMPANY PAYABLE	—		97,999		151,938		(249,937		)	—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,658,823		1,675,347		2,678,640		(4,353,987		)	1,658,823
Noncontrolling interest	—		—		98,820		—			98,820
TOTAL SHAREHOLDERS’ EQUITY	1,658,823		1,675,347		2,777,460		(4,353,987		)	1,757,643
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,989,600	$	2,784,302	$	3,494,275	$	(4,625,348	)	$	3,642,829



	CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2013
	Rayonier Inc. (Parent Issuer)		Subsidiary Guarantors		Non- guarantors		Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	130,181	$	11,023	$	58,440	$	—		$	199,644
Accounts receivable, less allowance for doubtful accounts	—		2,310		92,646		—			94,956
Inventory	—		—		138,818		—			138,818
Deferred tax assets	—		681		38,419		—			39,100
Prepaid and other current assets	—		2,369		44,207		—			46,576
Total current assets	130,181		16,383		372,530		—			519,094
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—		2,049,378		—			2,049,378
NET PROPERTY, PLANT AND EQUIPMENT	—		2,612		858,209		—			860,821
INVESTMENT IN SUBSIDIARIES	1,627,315		2,764,211		—		(4,391,526		)	—
INTERCOMPANY NOTES RECEIVABLE	228,032		20,659		—		(248,691		)	—
OTHER ASSETS	3,689		36,258		216,261		—			256,208
TOTAL ASSETS	$	1,989,217	$	2,840,123	$	3,496,378	$	(4,640,217	)	$	3,685,501
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	—	$	3,086	$	66,207	$	—		$	69,293
Current maturities of long-term debt	—		112,500		—		—			112,500
Accrued taxes	—		4,855		3,696		—			8,551
Accrued payroll and benefits	—		11,382		13,566		—			24,948
Accrued interest	3,047		3,280		22,816		(19,612		)	9,531
Accrued customer incentives	—		—		9,580		—			9,580
Other current liabilities	—		8,765		26,109		—			34,874
Current liabilities for dispositions and discontinued operations	—		—		6,835		—			6,835
Total current liabilities	3,047		143,868		148,809		(19,612		)	276,112
LONG-TERM DEBT	325,000		847,749		288,975		—			1,461,724
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	—		—		69,543		—			69,543
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		91,471		4,183		—			95,654
OTHER NON-CURRENT LIABILITIES	—		11,493		15,732		—			27,225
INTERCOMPANY PAYABLE	—		118,227		125,921		(244,148		)	—
TOTAL SHAREHOLDERS’ EQUITY	1,661,170		1,627,315		2,843,215		(4,376,457		)	1,755,243
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,989,217	$	2,840,123	$	3,496,378	$	(4,640,217	)	$	3,685,501



	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2014
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES	$	25,931		$	32,794		$	67,759		$	(27,210	)	$	99,274
INVESTING ACTIVITIES
Capital expenditures	—			(170		)	(36,585		)	—			(36,755		)
Purchase of timberlands	—			—			(10,637		)	—			(10,637		)
Change in restricted cash	—			—			45,312			—			45,312
Investment in Subsidiaries	—			69,103			—			(69,103		)	—
Other	—			—			1,592			—			1,592
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			68,933			(318		)	(69,103		)	(488		)
FINANCING ACTIVITIES
Issuance of debt	—			30,000			1,819			—			31,819
Repayment of debt	—			(110,000		)	—			—			(110,000		)
Dividends paid	(62,545		)	—			—			—			(62,545		)
Proceeds from the issuance of common shares	2,027			—			—			—			2,027
Excess tax deficiencies on stock-based compensation	—			—			(1,240		)	—			(1,240		)
Repurchase of common shares	(1,754		)	—			—			—			(1,754		)
Intercompany distributions	—			(28,434		)	(67,879		)	96,313			—
Other	—			—			(679		)	—			(679		)
CASH USED FOR FINANCING ACTIVITIES	(62,272		)	(108,434		)	(67,979		)	96,313			(142,372		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			13			—			13
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(36,341		)	(6,707		)	(525		)	—			(43,573		)
Balance, beginning of year	130,181			11,023			58,440			—			199,644
Balance, end of period	$	93,840		$	4,316		$	57,915		$	—		$	156,071



	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2013
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES	$	13,984		$	22,259		$	58,980		$	(5,563	)	$	89,660
INVESTING ACTIVITIES
Capital expenditures	—			(89		)	(32,575		)	—			(32,664		)
Purchase of timberlands	—			—			(1,560		)	—			(1,560		)
Jesup mill cellulose specialties expansion	—			—			(36,734		)	—			(36,734		)
Proceeds from disposition of Wood Products business	—			—			83,741			—			83,741
Change in restricted cash	—			—			9,908			—			9,908
Investment in Subsidiaries	—			32,391			—			(32,391		)	—
Other	—			—			1,790			—			1,790
CASH PROVIDED BY INVESTING ACTIVITIES	—			32,302			24,570			(32,391		)	24,481
FINANCING ACTIVITIES
Issuance of debt	100,000			—			—			—			100,000
Repayment of debt	(150,000		)	(20,000		)	—			—			(170,000		)
Dividends paid	(57,744		)	—			—			—			(57,744		)
Proceeds from the issuance of common shares	4,091			—			—			—			4,091
Excess tax benefits on stock-based compensation	—			—			6,191			—			6,191
Repurchase of common shares	(11,241		)	—			—			—			(11,241		)
Intercompany distributions	—			(5,206		)	(32,748		)	37,954			—
CASH USED FOR FINANCING ACTIVITIES	(114,894		)	(25,206		)	(26,557		)	37,954			(128,703		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			(17		)	—			(17		)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(100,910		)	29,355			56,976			—			(14,579		)
Balance, beginning of year	252,888			23,324			4,384			—			280,596
Balance, end of period	$	151,978		$	52,679		$	61,360		$	—		$	266,017

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2014
Basis of Presentation [Line Items]
Reclassifications	Reclassifications Certain 2013 amounts have been reclassified to agree with the current year presentation.
New Accounting Standards	New Accounting Standards In March 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This standard requires a parent entity to release a related foreign entity’s cumulative translation adjustment into net income only if its sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. The cumulative translation adjustment should be released into net income if the transaction results in the loss of a controlling financial interest in a foreign entity or results in an acquirer obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date. ASU No. 2013-05 became effective first quarter 2014. The adoption of this standard did not have any impact on the consolidated financial statements. In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The standard requires an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss (“NOL”) or similar carryforward or a tax credit carryforward. If an NOL or tax credit carryforward is not available at the reporting date or tax law of the applicable jurisdiction does not require the entity to use the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability. ASU 2013-11 became effective first quarter of 2014. The Company has applied the standard to its income tax balances and it did not have a material impact on the Company’s financial position. See Note 5 — Income Taxes for further information.
Equity Method Investments	The Company’s operating results for the three months ended March 31, 2013 reflect 26 percent of the New Zealand JV’s income prior to the acquisition date, as reported in “Equity in income of New Zealand joint venture” in the Consolidated Statements of Income and Comprehensive Income.
Segment Reporting	Operating income (loss) as presented in the Consolidated Statements of Income and Comprehensive Income is equal to segment income (loss). Certain income (loss) items in the Consolidated Statements of Income and Comprehensive Income are not allocated to segments. These items, which include gains (losses) from certain asset dispositions, interest income (expense), miscellaneous income (expense) and income tax (expense) benefit, are not considered by management to be part of segment operations.
Derivatives	Accounting for derivative financial instruments is governed by Accounting Standards Codification Topic 815, Derivatives and Hedging, (“ASC 815”). In accordance with ASC 815, the Company records its derivative instruments at fair value as either assets or liabilities in the Consolidated Balance Sheets. Changes in the instruments’ fair value are accounted for based on their intended use. Gains and losses on derivatives that are designated and qualify for cash flow hedge accounting are recorded as a component of accumulated other comprehensive income (“AOCI”) and reclassified into earnings when the hedged transaction materializes. The ineffective portion of any hedge as well as 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.
Derivatives, Offsetting Fair Value Amounts	Derivative financial instruments are presented at their gross fair values in the Consolidated Balance Sheets. The Company’s derivative financial instruments are not subject to master netting arrangements which would allow the right of offset.
Fair Value of Financial Instruments	Rayonier uses the following methods and assumptions in estimating the fair value of its financial instruments: Cash and cash equivalents and Restricted cash — The carrying amount is equal to fair market value. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities. The variable rate debt adjusts with changes in the market rate, therefore the carrying value approximates fair value. Interest rate swap agreements — The fair value of interest rate contracts is determined by discounting the expected future cash flows, for each instrument, at prevailing interest rates. Foreign currency exchange contracts — The fair value of foreign currency exchange contracts is determined by a mark-to-market valuation which estimates fair value by discounting the difference between the contracted forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate. Foreign currency option contracts — The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black-Scholes option pricing model.
Consolidation, Subsidiaries or Other Investments, Consolidated Entities	100 percent of the results of its operations subsequent to April 4, 2013 have been included in the Company’s consolidated financial statements, along with 100 percent of the JV’s assets and liabilities at March 31, 2014 and December 31, 2013. The portions of the consolidated financial position and results of operations attributable to the New Zealand JV’s 35 percent noncontrolling interest are also shown separately. The condensed consolidating financial information below follows the same accounting policies as described in the consolidated financial statements, except for the use of the equity method of accounting to reflect ownership interests in wholly-owned subsidiaries, which are eliminated upon consolidation, and the allocation of certain expenses of Rayonier Inc. incurred for the benefit of its subsidiaries.
Business Combinations Policy	We have applied estimates and judgments in order to determine the fair value of assets acquired and liabilities assumed at the acquisition date. In determining fair value we utilized valuation methodologies including discounted cash flow analysis. The assumptions made in performing these valuations include assumptions as to discount rates, foreign exchange rates, and commodity prices.
Foreign Currency Exchange Contract [Member]
Basis of Presentation [Line Items]
Fair Value of Financial Instruments	The fair value of foreign currency exchange contracts is determined by a mark-to-market valuation which estimates fair value by discounting the difference between the contracted forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate. The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black Scholes option pricing model.
Commodity Contract [Member]
Basis of Presentation [Line Items]
Fair Value of Financial Instruments	The fair value of the fuel swap 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.

SALE OF WOOD PRODUCTS BUSINESS (Tables)

3 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures



	Three Months Ended
	March 31, 2013
Sales	$	16,968
Income from discontinued operations, net	$	44,477

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS (Tables)

3 Months Ended

Mar. 31, 2014

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The following tables summarize the effect of these restatements for the period:



	Consolidated Statements of Income and Comprehensive Income for the Three Months Ended March 31, 2014
	As Previously Reported			Restatement			As Restated
Operating Income	$	65,008		$	(1,969	)	$	63,039
Income Tax Expense	(7,732		)	20			(7,712		)
Income from Continuing Operations	43,292			(1,949		)	41,343
Net Income	43,292			(1,949		)	41,343
Net Income Attributable to Rayonier Inc.	43,375			(1,949		)	41,426
Basic Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations	$	0.34		(0.01		)	$	0.33
Discontinued Operations	—			—			—
Net Income	$	0.34		$	(0.01	)	$	0.33
Diluted Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations	$	0.34		(0.02		)	$	0.32
Discontinued Operations	—			—			—
Net Income	$	0.34		$	(0.02	)	$	0.32



	Consolidated Balance Sheet as of March 31, 2014
	As Previously Reported		Restatement			As Restated
Prepaid and Other Current Assets	$	54,557	$	20		$	54,577
Timber and Timberlands, Net of Depletion and Amortization	2,069,518		(1,969		)	2,067,549
Retained earnings	996,573		(1,949		)	994,624

EARNINGS PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table provides details of the calculations of basic and diluted earnings per common share:



	Three Months Ended March 31,
	2014			2013
	(Restated)
Income from continuing operations	$	41,343		$	103,258
Less: Loss from continuing operations attributable to noncontrolling interest	(83		)	—
Income from continuing operations attributable to Rayonier Inc.	$	41,426		$	103,258

Income from discontinued operations attributable to Rayonier Inc.	$	—		$	44,477

Net income attributable to Rayonier Inc.	$	41,426		$	147,735

Shares used for determining basic earnings per common share	126,344,987			124,479,865
Dilutive effect of:
Stock options	286,535			533,031
Performance and restricted shares	83,850			448,440
Assumed conversion of Senior Exchangeable Notes (a)	1,063,538			2,115,959
Assumed conversion of warrants (a) (b)	645,583			2,859,593
Shares used for determining diluted earnings per common share	128,424,493			130,436,888
Basic earnings per common share attributable to Rayonier Inc.:
Continuing operations	$	0.33		$	0.83
Discontinued operations	—			0.36
Net income	$	0.33		$	1.19
Diluted earnings per common share attributable to Rayonier Inc.:
Continuing operations	$	0.32		$	0.79
Discontinued operations	—			0.34
Net income	$	0.32		$	1.13

(b) The shares used for the assumed conversion of the warrants decreased in the first quarter of 2014 as there was no dilutive impact from the warrants on the 2012 Notes.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share



	Three Months Ended March 31,
	2014	2013
Anti-dilutive shares excluded from the computations of diluted earnings per share:
Stock options, performance and restricted shares	731,046	220,701
Assumed conversion of exchangeable note hedges (a)	1,063,538	2,115,959
Total	1,794,584	2,336,660

(b) The shares used for the assumed conversion of the warrants decreased in the first quarter of 2014 as there was no dilutive impact from the warrants on the 2012 Notes.

INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The table below reconciles the U.S. statutory rate to the Company’s effective tax rate for each period presented (in millions of dollars):



	Three Months Ended March 31,
	2014					2013
	(Restated)			(Restated)
Income tax expense at federal statutory rate	$	17		35.0	%	$	38		35.0	%
REIT income not subject to tax	(7		)	(14.2	)	(11		)	(10.1	)
Manufacturing deduction	(1		)	(2.2	)	(2		)	(2.2	)
Other	—			(0.1	)	—			0.7
Income tax expense before discrete items	9			18.5	%	25			23.4	%
Exchange of AFMC for CBPC	—			—		(19		)	(17.5	)
Other	(1		)	(2.8	)	(2		)	(1.8	)
Income tax expense as reported	$	8		15.7	%	$	4		4.1	%

JOINT VENTURE INVESTMENT (Tables)

3 Months Ended

Mar. 31, 2014

Business Combinations [Abstract]

Business Acquisition, Pro Forma Information

The amounts of revenue and earnings of the New Zealand JV included in the Company’s Consolidated Statements of Income and Comprehensive Income for the first quarter 2014 are as follows:



	Three Months Ended March 31, 2014
Sales	$	37,764
Net Loss	(734		)



	Three Months Ended March 31, 2013
Sales	$	428,245
Net Income	$	146,280

SHAREHOLDERS'S EQUITY (Tables)

3 Months Ended

Mar. 31, 2014

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

An analysis of shareholders’ equity for the three months ended March 31, 2014 and the year ended December 31, 2013 is shown below (share amounts not in thousands):



	Rayonier Inc. Shareholders Equity
	Common Shares					Retained Earnings (Restated)			Accumulated Other Comprehensive Income/(Loss)			Non-controlling Interest			Total Shareholders’ Equity (Restated)
	Shares		Amount			Retained Earnings (Restated)			Accumulated Other Comprehensive Income/(Loss)			Non-controlling Interest			Total Shareholders’ Equity (Restated)
Balance, December 31, 2012	123,332,444		$	670,749		$	876,634		$	(109,379	)	$	—		$	1,438,004
Net income	—		—			371,896			—			1,902			373,798
Dividends ($1.86 per share)	—		—			(233,321		)	—			—			(233,321		)
Issuance of shares under incentive stock plans	1,001,426		10,101			—			—			—			10,101
Stock-based compensation	—		11,710			—			—			—			11,710
Excess tax benefit on stock-based compensation	—		8,413			—			—			—			8,413
Repurchase of common shares	(211,221	)	(11,326		)	—			—			—			(11,326		)
Equity portion of convertible debt (Note 15)	—		2,453			—			—			—			2,453
Settlement of warrants (Note 15)	2,135,221		—			—			—			—			—
Net gain from pension and postretirement plans	—		—			—			61,869			—			61,869
Acquisition of noncontrolling interest	—		—			—			—			96,336			96,336
Noncontrolling interest redemption of shares	—		—			—			—			(713		)	(713		)
Foreign currency translation adjustment	—		—			—			(1,915		)	(3,795		)	(5,710		)
Joint venture cash flow hedges	—		—			—			3,286			343			3,629
Balance, December 31, 2013	126,257,870		$	692,100		$	1,015,209		$	(46,139	)	$	94,073		$	1,755,243
Net income (loss)	—		—			41,426			—			(83		)	41,343
Dividends ($0.49 per share)	—		—			(62,011		)	—			—			(62,011		)
Issuance of shares under incentive stock plans	235,843		2,027			—			—			—			2,027
Stock-based compensation	—		3,103			—			—			—			3,103
Excess tax deficiency on stock-based compensation	—		(1,240		)	—			—			—			(1,240		)
Repurchase of common shares	(42,208	)	(1,754		)	—			—			—			(1,754		)
Amortization of pension and postretirement plans	—		—			—			2,097			—			2,097
Noncontrolling interest redemption of shares	—		—			—			—			(679		)	(679		)
Foreign currency translation adjustment	—		—			—			12,893			4,910			17,803
Joint venture cash flow hedges	—		—			—			1,112			599			1,711
Balance, March 31, 2014	126,451,505		$	694,236		$	994,624		$	(30,037	)	$	98,820		$	1,757,643

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Schedule of Segment Reporting Information, by Segment

Total assets, sales, operating income (loss) and depreciation, depletion and amortization by segment including Corporate were as follows:



	March 31,		December 31,
	2014		2013
ASSETS	(Restated)
Forest Resources	$	2,187,498	$	2,162,913
Real Estate	113,376		149,001
Performance Fibers	1,095,574		1,078,645
Other Operations	35,121		37,334
Corporate and other	211,260		257,608
Total	$	3,642,829	$	3,685,501



	Three Months Ended March 31,
SALES	2014			2013
Forest Resources (a)	$	104,678		$	57,102
Real Estate	5,530			24,297
Performance Fibers	241,768			284,188
Other Operations	37,417			28,227
Intersegment Eliminations	(2,707		)	(95		)
Total	$	386,686		$	393,719


(a)	First quarter 2014 included $38 million in sales from the consolidation of the New Zealand JV. See Note 7 — Joint Venture Investment.



	Three Months Ended March 31,
	2014			2013
OPERATING INCOME	(Restated)
Forest Resources	$	25,546		$	13,255
Real Estate	725			16,842
Performance Fibers	48,980			91,670
Other Operations	184			165
Corporate and other (a)	(12,396		)	(6,569		)
Total	$	63,039		$	115,363


(a)	First quarter 2014 included $3.3 million of separation costs related to the planned separation of the Performance Fibers business from the Forest Resources and Real Estate businesses.



	Three Months Ended March 31,
	2014		2013
DEPRECIATION, DEPLETION AND AMORTIZATION	(Restated)
Forest Resources (a)	26,887		$	16,444
Real Estate	910		4,177
Performance Fibers	20,649		15,153
Corporate and other	282		218
Total	$	48,728	$	35,992


(a)	2014 included an increase of approximately $7 million in depletion expenses related to the consolidation of the New Zealand JV. See Note 7 — Joint Venture Investment.

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance



		Three Months Ended
	Income Statement Location	March 31, 2014
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive income (loss)	$	1,487
Foreign currency option contracts	Other comprehensive income (loss)	725

Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating expense (income)	25
Foreign currency option contracts	Other operating expense (income)	7
Interest rate swaps	Interest and miscellaneous (expense) income, net	(1,134		)
Fuel hedge contracts	Cost of sales	317

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 (a)
	March 31, 2014		December 31, 2013
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	$	37,064	$	32,300
Foreign currency option contracts	37,500		38,000

Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	$	—	$	1,950
Foreign currency option contracts	—		4,000
Interest rate swaps	179,066		183,851
Fuel hedge contracts	25		38


(a)	All notional amounts are stated in thousands of dollars except fuel contracts which are denominated in thousands of barrels.

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)
		March 31, 2014			December 31, 2013
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Prepaid and other current assets	$	2,616		$	915
	Other current liabilities	(84		)	—
Foreign currency option contracts	Prepaid and other current assets	1,333			673
	Other current liabilities	(90		)	(214		)

Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Prepaid and other current assets	$	—		$	25
Foreign currency option contracts	Prepaid and other current assets	—			8
Interest rate swaps	Other non-current liabilities	(5,145		)	(4,659		)
Fuel hedge contracts	Prepaid and other current assets	—			160
	Other current liabilities	(159		)	—

Total derivative contracts:
Prepaid and other current assets		$	3,949		$	1,781

Other current liabilities		(333		)	(214		)
Other non-current liabilities		(5,145		)	(4,659		)
Total derivative liabilities		$	(5,478	)	$	(4,873	)


(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)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis



	March 31, 2014								December 31, 2013
Asset (liability)	Carrying Amount			Fair Value					Carrying Amount			Fair Value
				Level 1		Level 2						Level 1		Level 2
Cash and cash equivalents	$	156,071		$	156,071	$	—		$	199,644		$	199,644	$	—
Restricted cash (a)	23,633			23,633		—			68,944			68,944		—
Current maturities of long-term debt	(114,319		)	—		(122,187		)	(112,500		)	—		(119,614		)
Long-term debt	(1,393,887		)	—		(1,451,984		)	(1,461,724		)	—		(1,489,810		)
Interest rate swaps (b)	(5,145		)	—		(5,145		)	(4,659		)	—		(4,659		)
Foreign currency exchange contracts (b)	2,532			—		2,532			940			—		940
Foreign currency option contracts (b)	1,243			—		1,243			467			—		467
Fuel contracts (b)	(159		)	—		(159		)	160			—		160


(a)	Restricted cash is recorded in “Other Assets” and represents the proceeds from LKE sales deposited with a third-party intermediary.


(b)	See Note 10 — Derivative Financial Instruments and Hedging Activities for information regarding the Balance Sheet classification of the Company’s derivative financial instruments.

GUARANTEES (Tables)

3 Months Ended

Mar. 31, 2014

Guarantees [Abstract]

Schedule of Guarantor Obligations

The Company provides financial guarantees as required by creditors, insurance programs, and various governmental agencies. As of March 31, 2014, the following financial guarantees were outstanding:



Financial Commitments	Maximum Potential Payment		Carrying Amount of Associated Liability
Standby letters of credit (a)	$	17,355	$	15,000
Guarantees (b)	2,254		43
Surety bonds (c)	5,498		1,099
Total financial commitments	$	25,107	$	16,142


(a)	Approximately $15 million of the standby letters of credit serve as credit support for industrial revenue bonds. The remaining letters of credit support various insurance related agreements, primarily workers’ compensation and pollution liability policy requirements. These letters of credit will expire at various dates during 2014 and will be renewed as required.

(b)


(c)	Rayonier issues surety bonds primarily to secure timber harvesting obligations in the State of Washington and to provide collateral for the Company’s workers’ compensation self-insurance program in that state. These surety bonds expire at various dates during 2014 and 2015 and are expected to be renewed as required.

LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2014

Liabilities of Disposal Group, Including Discontinued Operation [Abstract]

Schedule of Change in Environmental Loss Contingencies

An analysis of the liabilities for dispositions and discontinued operations follows:



	March 31,			December 31,
	2014			2013
Balance, beginning of period	$	76,378		$	81,695
Expenditures charged to liabilities	(2,498		)	(8,570		)
Increase to liabilities	22			3,253
Balance, end of period	73,902			76,378
Less: Current portion	(6,446		)	(6,835		)
Non-current portion	$	67,456		$	69,543

EMPLOYEE BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2014

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Schedule of Net Benefit Costs

The net pension and postretirement benefit costs that have been recorded are shown in the following tables:



	Pension						Postretirement
	Three Months Ended March 31,						Three Months Ended March 31,
	2014			2013			2014			2013
Components of Net Periodic Benefit Cost
Service cost	$	1,624		$	2,419		$	179		$	249
Interest cost	4,683			4,834			206			240
Expected return on plan assets	(6,658		)	(7,424		)	—			—
Amortization of prior service cost	292			388			4			6
Amortization of losses	2,737			5,727			129			218
Amortization of negative plan amendment	—			—			(134		)	—
Net periodic benefit cost	$	2,678		$	5,944		$	384		$	713

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Mar. 31, 2014

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)



	Foreign currency translation gains		New Zealand joint venture cash flow hedges			Unrecognized components of employee benefit plans				Total
Balance as of December 31, 2013	$	36,914	$	(342	)	$	(82,711	)		$	(46,139	)
Other comprehensive income before reclassifications	12,893		1,604			—				14,497
Amounts reclassified from accumulated other comprehensive income	—		(492		)	2,097			(a)	1,605
Net other comprehensive income	12,893		1,112			2,097				16,102
Balance as of March 31, 2014	$	49,807	$	770		$	(80,614	)		$	(30,037	)


(a)	This accumulated other comprehensive income component is included in the computation of net periodic pension cost. See Note 15 — Employee Benefit Plans for additional information.

The following table presents details of the amounts reclassified in their entirety from AOCI for the three months ended March 31, 2014:



Details about accumulated other comprehensive income components	Amount reclassified from accumulated other comprehensive income			Affected line item in the income statement
Realized gain on foreign currency exchange contracts	$	(872	)	Other operating (income) expense, net
Realized gain on foreign currency option contracts	(107		)	Other operating (income) expense, net
Noncontrolling interest	343			Comprehensive income (loss) attributable to noncontrolling interest
Income tax expense	144			Income tax expense
Net gain reclassified from accumulated other comprehensive income	$	(492	)

OTHER OPERATING (EXPENSE) INCOME, NET (Tables)

3 Months Ended

Mar. 31, 2014

Other Operating Income, Net [Abstract]

Interest and Other Income

Other operating (expense) income, net was comprised of the following:



	Three Months Ended March 31,
	2014			2013
Lease income, primarily from hunting leases	$	3,036		$	2,462
Other non-timber income	552			474
Foreign currency loss	(1,490		)	(184		)
Loss on sale or disposal of property, plant & equipment	(532		)	(429		)
(Loss) gain on foreign currency exchange contracts	(32		)	1,881
Separation costs related to Rayonier Advanced Materials Inc.	(3,318		)	(86		)
Miscellaneous expense, net	(1,753		)	(615		)
Total	$	(3,537	)	$	3,503

CONSOLIDATING FINANCIAL STATEMENTS (Tables)

3 Months Ended

Mar. 31, 2014

Senior Exchangeable Notes due 2015 [Member]

Condensed Financial Statements, Captions [Line Items]

Schedule of Condensed Consolidating Statement of Income and Comprehensive Income



	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2014
	Rayonier Inc. (Parent Guarantor)			ROC (Subsidiary Guarantor)			Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors			Consolidating Adjustments			Total Consolidated
	(Restated)			(Restated)						(Restated)			(Restated)			(Restated)
SALES	$	—		$	—		$	—		$	386,686		$	—		$	386,686
Costs and Expenses
Cost of sales	—			—			—			304,619			—			304,619
Selling and general expenses	—			2,150			—			13,341			—			15,491
Other operating expense, net	—			2,375			—			1,162			—			3,537
	—			4,525			—			319,122			—			323,647
OPERATING (LOSS) INCOME	—			(4,525		)	—			67,564			—			63,039
Interest expense	(3,193		)	(243		)	(6,690		)	(2,843		)	—			(12,969		)
Interest and miscellaneous income (expense), net	2,698			814			(1,047		)	(3,480		)	—			(1,015		)
Equity in income from subsidiaries	41,921			46,478			31,110			—			(119,509		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	41,426			42,524			23,373			61,241			(119,509		)	49,055
Income tax (expense) benefit	—			(603		)	2,824			(9,933		)	—			(7,712		)
NET INCOME	41,426			41,921			26,197			51,308			(119,509		)	41,343
Less: Net loss attributable to noncontrolling interest	—			—			—			(83		)	—			(83		)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,426			41,921			26,197			51,391			(119,509		)	41,426
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	12,894			12,893			766			17,795			(26,545		)	17,803
New Zealand joint venture cash flow hedges	1,112			1,112			1,112			1,711			(3,336		)	1,711
Amortization of pension and postretirement plans, net of income tax	2,097			2,097			1,620			1,620			(5,337		)	2,097
Total other comprehensive income	16,103			16,102			3,498			21,126			(35,218		)	21,611
COMPREHENSIVE INCOME	57,529			58,023			29,695			72,434			(154,727		)	62,954
Less: Comprehensive income attributable to noncontrolling interest	—			—			—			5,425			—			5,425
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	$	57,529		$	58,023		$	29,695		$	67,009		$	(154,727	)	$	57,529



	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2013
	Rayonier Inc. (Parent Guarantor)			ROC (Subsidiary Guarantor)			Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	$	—		$	—		$	—		$	393,719		$	—		$	393,719
Costs and Expenses
Cost of sales	—			—			—			266,018			—			266,018
Selling and general expenses	—			2,401			—			13,698			—			16,099
Other operating (income) expense, net	(1,881		)	523			—			(2,145		)	—			(3,503		)
	(1,881		)	2,924			—			277,571			—			278,614
Equity in income of New Zealand joint venture	—			—			—			258			—			258
OPERATING INCOME (LOSS)	1,881			(2,924		)	—			116,406			—			115,363
Interest (expense) income	(3,275		)	(252		)	(6,618		)	2,428			—			(7,717		)
Interest and miscellaneous income (expense), net	2,419			529			(751		)	(2,140		)	—			57
Equity in income from subsidiaries	146,710			148,765			123,469			—			(418,944		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	147,735			146,118			116,100			116,694			(418,944		)	107,703
Income tax benefit (expense)	—			592			2,690			(7,727		)	—			(4,445		)
INCOME FROM CONTINUING OPERATIONS	147,735			146,710			118,790			108,967			(418,944		)	103,258
DISCONTINUED OPERATIONS, NET
Income from discontinued operations, net of income tax	—			—			—			44,477			—			44,477
NET INCOME	147,735			146,710			118,790			153,444			(418,944		)	147,735
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	975			975			240			975			(2,190		)	975
New Zealand joint venture cash flow hedges	554			554			—			554			(1,108		)	554
Amortization of pension and postretirement plans, net of income tax	4,969			4,969			4,012			—			(8,981		)	4,969
Total other comprehensive income	6,498			6,498			4,252			1,529			(12,279		)	6,498
COMPREHENSIVE INCOME	$	154,233		$	153,208		$	123,042		$	154,973		$	(431,223	)	$	154,233

Schedule of Condensed Consolidating Balance Sheets



	CONDENSED CONSOLIDATING BALANCE SHEETS As of March 31, 2014
	Rayonier Inc. (Parent Guarantor)		ROC (Subsidiary Guarantor)		Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors		Consolidating Adjustments			Total Consolidated
	(Restated)		(Restated)					(Restated)		(Restated)			(Restated)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	93,840	$	4,494	$	(178	)	$	57,915	$	—		$	156,071
Accounts receivable, less allowance for doubtful accounts	—		10		689			110,998		—			111,697
Inventory	—		—		—			141,928		—			141,928
Deferred tax assets	—		—		646			30,934		—			31,580
Prepaid and other current assets	—		6,582		3			47,992		—			54,577
Total current assets	93,840		11,086		1,160			389,767		—			495,853
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—		—			2,067,549		—			2,067,549
NET PROPERTY, PLANT AND EQUIPMENT	—		2,698		—			859,271		—			861,969
INVESTMENT IN SUBSIDIARIES	1,675,347		1,851,260		1,170,755			—		(4,697,362		)	—
INTERCOMPANY NOTES RECEIVABLE	216,844		—		20,866			—		(237,710		)	—
OTHER ASSETS	3,569		32,705		3,496			177,688		—			217,458
TOTAL ASSETS	$	1,989,600	$	1,897,749	$	1,196,277		$	3,494,275	$	(4,935,072	)	$	3,642,829
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	—	$	1,054	$	2,102		$	83,126	$	—		$	86,282
Current maturities of long-term debt	—		—		112,500			1,819		—			114,319
Accrued taxes	—		14		—			11,360		—			11,374
Accrued payroll and benefits	—		8,038		—			11,223		—			19,261
Accrued interest	5,777		669		3,723			25,112		(21,424		)	13,857
Accrued customer incentives	—		—		—			10,082		—			10,082
Other current liabilities	—		9,058		—			26,812		—			35,870
Current liabilities for dispositions and discontinued operations	—		—		—			6,446		—			6,446
Total current liabilities	5,777		18,833		118,325			175,980		(21,424		)	297,491
LONG-TERM DEBT	325,000		—		768,228			300,659		—			1,393,887
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	—		—		—			67,456		—			67,456
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		91,807		—			3,291		—			95,098
OTHER NON-CURRENT LIABILITIES	—		13,763		—			17,491		—			31,254
INTERCOMPANY PAYABLE	—		97,999		—			151,938		(249,937		)	—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,658,823		1,675,347		309,724			2,678,640		(4,663,711		)	1,658,823
Noncontrolling interest	—		—		—			98,820		—			98,820
TOTAL SHAREHOLDERS’ EQUITY	1,658,823		1,675,347		309,724			2,777,460		(4,663,711		)	1,757,643
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,989,600	$	1,897,749	$	1,196,277		$	3,494,275	$	(4,935,072	)	$	3,642,829



	CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2013
	Rayonier Inc. (Parent Guarantor)		ROC (Subsidiary Guarantor)		Rayonier TRS Holdings Inc. (Issuer)		Non- guarantors		Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	130,181	$	304	$	10,719	$	58,440	$	—		$	199,644
Accounts receivable, less allowance for doubtful accounts	—		10		2,300		92,646		—			94,956
Inventory	—		—		—		138,818		—			138,818
Deferred tax assets	—		—		681		38,419		—			39,100
Prepaid and other current assets	—		2,363		6		44,207		—			46,576
Total current assets	130,181		2,677		13,706		372,530		—			519,094
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—		—		2,049,378		—			2,049,378
NET PROPERTY, PLANT AND EQUIPMENT	—		2,612		—		858,209		—			860,821
INVESTMENT IN SUBSIDIARIES	1,627,315		1,837,760		1,148,221		—		(4,613,296		)	—
INTERCOMPANY NOTES RECEIVABLE	228,032		—		20,659		—		(248,691		)	—
OTHER ASSETS	3,689		32,519		3,739		216,261		—			256,208
TOTAL ASSETS	$	1,989,217	$	1,875,568	$	1,186,325	$	3,496,378	$	(4,861,987	)	$	3,685,501
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	—	$	1,522	$	1,564	$	66,207	$	—		$	69,293
Current maturities of long-term debt	—		—		112,500		—		—			112,500
Accrued taxes	—		4,855		—		3,696		—			8,551
Accrued payroll and benefits	—		11,382		—		13,566		—			24,948
Accrued interest	3,047		538		2,742		22,816		(19,612		)	9,531
Accrued customer incentives	—		—		—		9,580		—			9,580
Other current liabilities	—		8,765		—		26,109		—			34,874
Current liabilities for dispositions and discontinued operations	—		—		—		6,835		—			6,835
Total current liabilities	3,047		27,062		116,806		148,809		(19,612		)	276,112
LONG-TERM DEBT	325,000		—		847,749		288,975		—			1,461,724
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	—		—		—		69,543		—			69,543
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		91,471		—		4,183		—			95,654
OTHER NON-CURRENT LIABILITIES	—		11,493		—		15,732		—			27,225
INTERCOMPANY PAYABLE	—		118,227		—		125,921		(244,148		)	—
TOTAL SHAREHOLDERS’ EQUITY	1,661,170		1,627,315		221,770		2,843,215		(4,598,227		)	1,755,243
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,989,217	$	1,875,568	$	1,186,325	$	3,496,378	$	(4,861,987	)	$	3,685,501

Schedule of Condensed Consolidating Statements of Cash Flows



	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2014
	Rayonier Inc. (Parent Guarantor)			ROC (Subsidiary Guarantor)			Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES	$	25,931		$	32,794		$	—		$	67,759		$	(27,210	)	$	99,274
INVESTING ACTIVITIES
Capital expenditures	—			(170		)	—			(36,585		)	—			(36,755		)
Purchase of timberlands	—			—			—			(10,637		)	—			(10,637		)
Change in restricted cash	—			—			—			45,312			—			45,312
Investment in Subsidiaries	—			—			69,103			—			(69,103		)	—
Other	—			—			—			1,592			—			1,592
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	—			(170		)	69,103			(318		)	(69,103		)	(488		)
FINANCING ACTIVITIES
Issuance of debt	—			—			30,000			1,819			—			31,819
Repayment of debt	—			—			(110,000		)	—			—			(110,000		)
Dividends paid	(62,545		)	—			—			—			—			(62,545		)
Proceeds from the issuance of common shares	2,027			—			—			—			—			2,027
Excess tax deficiencies on stock-based compensation	—			—			—			(1,240		)	—			(1,240		)
Repurchase of common shares	(1,754		)	—			—			—			—			(1,754		)
Intercompany distributions	—			(28,434		)	—			(67,879		)	96,313			—
Other	—			—			—			(679		)	—			(679		)
CASH USED FOR FINANCING ACTIVITIES	(62,272		)	(28,434		)	(80,000		)	(67,979		)	96,313			(142,372		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			—			13			—			13
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(36,341		)	4,190			(10,897		)	(525		)	—			(43,573		)
Balance, beginning of year	130,181			304			10,719			58,440			—			199,644
Balance, end of period	$	93,840		$	4,494		$	(178	)	$	57,915		$	—		$	156,071



	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2013
	Rayonier Inc. (Parent Guarantor)			ROC (Subsidiary Guarantor)			Rayonier TRS Holdings Inc. (Issuer)			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES	$	13,984		$	22,259		$	—		$	58,980		$	(5,563	)	$	89,660
INVESTING ACTIVITIES
Capital expenditures	—			(89		)	—			(32,575		)	—			(32,664		)
Purchase of timberlands	—			—			—			(1,560		)	—			(1,560		)
Jesup mill cellulose specialties expansion	—			—			—			(36,734		)	—			(36,734		)
Proceeds from disposition of Wood Products business	—			—			—			83,741			—			83,741
Change in restricted cash	—			—			—			9,908			—			9,908
Investment in Subsidiaries	—			—			32,391			—			(32,391		)	—
Other	—			—			—			1,790			—			1,790
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	—			(89		)	32,391			24,570			(32,391		)	24,481
FINANCING ACTIVITIES
Issuance of debt	100,000			—			—			—			—			100,000
Repayment of debt	(150,000		)	—			(20,000		)	—			—			(170,000		)
Dividends paid	(57,744		)	—			—			—			—			(57,744		)
Proceeds from the issuance of common shares	4,091			—			—			—			—			4,091
Excess tax benefits on stock-based compensation	—			—			—			6,191			—			6,191
Repurchase of common shares	(11,241		)	—			—			—			—			(11,241		)
Intercompany distributions	—			(5,206		)	—			(32,748		)	37,954			—
CASH USED FOR FINANCING ACTIVITIES	(114,894		)	(5,206		)	(20,000		)	(26,557		)	37,954			(128,703		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			—			(17		)	—			(17		)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(100,910		)	16,964			12,391			56,976			—			(14,579		)
Balance, beginning of year	252,888			3,966			19,358			4,384			—			280,596
Balance, end of period	$	151,978		$	20,930		$	31,749		$	61,360		$	—		$	266,017

Senior Notes due 2022 at a fixed interest rate of 3.75% [Member]

Condensed Financial Statements, Captions [Line Items]

Schedule of Condensed Consolidating Statement of Income and Comprehensive Income



	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2014
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
	(Restated)			(Restated)			(Restated)			(Restated)			(Restated)
SALES	$	—		$	—		$	386,686		$	—		$	386,686
Costs and Expenses
Cost of sales	—			—			304,619			—			304,619
Selling and general expenses	—			2,150			13,341			—			15,491
Other operating expense, net	—			2,375			1,162			—			3,537
	—			4,525			319,122			—			323,647
OPERATING (LOSS) INCOME	—			(4,525		)	67,564			—			63,039
Interest expense	(3,193		)	(6,933		)	(2,843		)	—			(12,969		)
Interest and miscellaneous income (expense), net	2,698			(233		)	(3,480		)	—			(1,015		)
Equity in income from subsidiaries	41,921			51,391			—			(93,312		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	41,426			39,700			61,241			(93,312		)	49,055
Income tax benefit (expense)	—			2,221			(9,933		)	—			(7,712		)
NET INCOME	41,426			41,921			51,308			(93,312		)	41,343
Less: Net loss attributable to noncontrolling interest	—			—			(83		)	—			(83		)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,426			41,921			51,391			(93,312		)	41,426
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	12,894			12,892			17,795			(25,778		)	17,803
New Zealand joint venture cash flow hedges	1,112			1,112			1,711			(2,224		)	1,711
Amortization of pension and postretirement plans, net of income tax	2,097			2,097			1,620			(3,717		)	2,097
Total other comprehensive income	16,103			16,101			21,126			(31,719		)	21,611
COMPREHENSIVE INCOME	57,529			58,022			72,434			(125,031		)	62,954
Less: Comprehensive income attributable to noncontrolling interest	—			—			5,425			—			5,425
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	$	57,529		$	58,022		$	67,009		$	(125,031	)	$	57,529



	CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2013
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
SALES	$	—		$	—		$	393,719		$	—		$	393,719
Costs and Expenses
Cost of sales	—			—			266,018			—			266,018
Selling and general expenses	—			2,401			13,698			—			16,099
Other operating (income) expense, net	(1,881		)	523			(2,145		)	—			(3,503		)
	(1,881		)	2,924			277,571			—			278,614
Equity in income of New Zealand joint venture	—			—			258			—			258
OPERATING INCOME (LOSS)	1,881			(2,924		)	116,406			—			115,363
Interest (expense) income	(3,275		)	(6,870		)	2,428			—			(7,717		)
Interest and miscellaneous income (expense), net	2,419			(222		)	(2,140		)	—			57
Equity in income from subsidiaries	146,710			153,444			—			(300,154		)	—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	147,735			143,428			116,694			(300,154		)	107,703
Income tax benefit (expense)	—			3,282			(7,727		)	—			(4,445		)
INCOME FROM CONTINUING OPERATIONS	147,735			146,710			108,967			(300,154		)	103,258
DISCONTINUED OPERATIONS, NET
Income from discontinued operations, net of income taxes	—			—			44,477			—			44,477
NET INCOME	147,735			146,710			153,444			(300,154		)	147,735
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	975			975			975			(1,950		)	975
New Zealand joint venture cash flow hedges	554			554			554			(1,108		)	554
Amortization of pension and postretirement plans, net of income tax	4,969			4,969			—			(4,969		)	4,969
Total other comprehensive income	6,498			6,498			1,529			(8,027		)	6,498
COMPREHENSIVE INCOME	$	154,233		$	153,208		$	154,973		$	(308,181	)	$	154,233

Schedule of Condensed Consolidating Balance Sheets



	CONDENSED CONSOLIDATING BALANCE SHEETS As of March 31, 2014
	Rayonier Inc. (Parent Issuer)		Subsidiary Guarantors		Non- guarantors		Consolidating Adjustments			Total Consolidated
	(Restated)		(Restated)		(Restated)		(Restated)			(Restated)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	93,840	$	4,316	$	57,915	$	—		$	156,071
Accounts receivable, less allowance for doubtful accounts	—		699		110,998		—			111,697
Inventory	—		—		141,928		—			141,928
Deferred tax asset	—		646		30,934		—			31,580
Prepaid and other current assets	—		6,585		47,992		—			54,577
Total current assets	93,840		12,246		389,767		—			495,853
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—		2,067,549		—			2,067,549
NET PROPERTY, PLANT AND EQUIPMENT	—		2,698		859,271		—			861,969
INVESTMENT IN SUBSIDIARIES	1,675,347		2,712,291		—		(4,387,638		)	—
INTERCOMPANY NOTES RECEIVABLE	216,844		20,866		—		(237,710		)	—
OTHER ASSETS	3,569		36,201		177,688		—			217,458
TOTAL ASSETS	$	1,989,600	$	2,784,302	$	3,494,275	$	(4,625,348	)	$	3,642,829
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	—	$	3,156	$	83,126	$	—		$	86,282
Current maturities of long-term debt	—		112,500		1,819		—			114,319
Accrued taxes	—		14		11,360		—			11,374
Accrued payroll and benefits	—		8,038		11,223		—			19,261
Accrued interest	5,777		4,392		25,112		(21,424		)	13,857
Accrued customer incentives	—		—		10,082		—			10,082
Other current liabilities	—		9,058		26,812		—			35,870
Current liabilities for dispositions and discontinued operations	—		—		6,446		—			6,446
Total current liabilities	5,777		137,158		175,980		(21,424		)	297,491
LONG-TERM DEBT	325,000		768,228		300,659		—			1,393,887
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	—		—		67,456		—			67,456
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		91,807		3,291		—			95,098
OTHER NON-CURRENT LIABILITIES	—		13,763		17,491		—			31,254
INTERCOMPANY PAYABLE	—		97,999		151,938		(249,937		)	—
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,658,823		1,675,347		2,678,640		(4,353,987		)	1,658,823
Noncontrolling interest	—		—		98,820		—			98,820
TOTAL SHAREHOLDERS’ EQUITY	1,658,823		1,675,347		2,777,460		(4,353,987		)	1,757,643
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,989,600	$	2,784,302	$	3,494,275	$	(4,625,348	)	$	3,642,829



	CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2013
	Rayonier Inc. (Parent Issuer)		Subsidiary Guarantors		Non- guarantors		Consolidating Adjustments			Total Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	130,181	$	11,023	$	58,440	$	—		$	199,644
Accounts receivable, less allowance for doubtful accounts	—		2,310		92,646		—			94,956
Inventory	—		—		138,818		—			138,818
Deferred tax assets	—		681		38,419		—			39,100
Prepaid and other current assets	—		2,369		44,207		—			46,576
Total current assets	130,181		16,383		372,530		—			519,094
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	—		—		2,049,378		—			2,049,378
NET PROPERTY, PLANT AND EQUIPMENT	—		2,612		858,209		—			860,821
INVESTMENT IN SUBSIDIARIES	1,627,315		2,764,211		—		(4,391,526		)	—
INTERCOMPANY NOTES RECEIVABLE	228,032		20,659		—		(248,691		)	—
OTHER ASSETS	3,689		36,258		216,261		—			256,208
TOTAL ASSETS	$	1,989,217	$	2,840,123	$	3,496,378	$	(4,640,217	)	$	3,685,501
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	—	$	3,086	$	66,207	$	—		$	69,293
Current maturities of long-term debt	—		112,500		—		—			112,500
Accrued taxes	—		4,855		3,696		—			8,551
Accrued payroll and benefits	—		11,382		13,566		—			24,948
Accrued interest	3,047		3,280		22,816		(19,612		)	9,531
Accrued customer incentives	—		—		9,580		—			9,580
Other current liabilities	—		8,765		26,109		—			34,874
Current liabilities for dispositions and discontinued operations	—		—		6,835		—			6,835
Total current liabilities	3,047		143,868		148,809		(19,612		)	276,112
LONG-TERM DEBT	325,000		847,749		288,975		—			1,461,724
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	—		—		69,543		—			69,543
PENSION AND OTHER POSTRETIREMENT BENEFITS	—		91,471		4,183		—			95,654
OTHER NON-CURRENT LIABILITIES	—		11,493		15,732		—			27,225
INTERCOMPANY PAYABLE	—		118,227		125,921		(244,148		)	—
TOTAL SHAREHOLDERS’ EQUITY	1,661,170		1,627,315		2,843,215		(4,376,457		)	1,755,243
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,989,217	$	2,840,123	$	3,496,378	$	(4,640,217	)	$	3,685,501

Schedule of Condensed Consolidating Statements of Cash Flows



	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2014
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES	$	25,931		$	32,794		$	67,759		$	(27,210	)	$	99,274
INVESTING ACTIVITIES
Capital expenditures	—			(170		)	(36,585		)	—			(36,755		)
Purchase of timberlands	—			—			(10,637		)	—			(10,637		)
Change in restricted cash	—			—			45,312			—			45,312
Investment in Subsidiaries	—			69,103			—			(69,103		)	—
Other	—			—			1,592			—			1,592
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			68,933			(318		)	(69,103		)	(488		)
FINANCING ACTIVITIES
Issuance of debt	—			30,000			1,819			—			31,819
Repayment of debt	—			(110,000		)	—			—			(110,000		)
Dividends paid	(62,545		)	—			—			—			(62,545		)
Proceeds from the issuance of common shares	2,027			—			—			—			2,027
Excess tax deficiencies on stock-based compensation	—			—			(1,240		)	—			(1,240		)
Repurchase of common shares	(1,754		)	—			—			—			(1,754		)
Intercompany distributions	—			(28,434		)	(67,879		)	96,313			—
Other	—			—			(679		)	—			(679		)
CASH USED FOR FINANCING ACTIVITIES	(62,272		)	(108,434		)	(67,979		)	96,313			(142,372		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			13			—			13
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(36,341		)	(6,707		)	(525		)	—			(43,573		)
Balance, beginning of year	130,181			11,023			58,440			—			199,644
Balance, end of period	$	93,840		$	4,316		$	57,915		$	—		$	156,071



	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2013
	Rayonier Inc. (Parent Issuer)			Subsidiary Guarantors			Non- guarantors			Consolidating Adjustments			Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES	$	13,984		$	22,259		$	58,980		$	(5,563	)	$	89,660
INVESTING ACTIVITIES
Capital expenditures	—			(89		)	(32,575		)	—			(32,664		)
Purchase of timberlands	—			—			(1,560		)	—			(1,560		)
Jesup mill cellulose specialties expansion	—			—			(36,734		)	—			(36,734		)
Proceeds from disposition of Wood Products business	—			—			83,741			—			83,741
Change in restricted cash	—			—			9,908			—			9,908
Investment in Subsidiaries	—			32,391			—			(32,391		)	—
Other	—			—			1,790			—			1,790
CASH PROVIDED BY INVESTING ACTIVITIES	—			32,302			24,570			(32,391		)	24,481
FINANCING ACTIVITIES
Issuance of debt	100,000			—			—			—			100,000
Repayment of debt	(150,000		)	(20,000		)	—			—			(170,000		)
Dividends paid	(57,744		)	—			—			—			(57,744		)
Proceeds from the issuance of common shares	4,091			—			—			—			4,091
Excess tax benefits on stock-based compensation	—			—			6,191			—			6,191
Repurchase of common shares	(11,241		)	—			—			—			(11,241		)
Intercompany distributions	—			(5,206		)	(32,748		)	37,954			—
CASH USED FOR FINANCING ACTIVITIES	(114,894		)	(25,206		)	(26,557		)	37,954			(128,703		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			(17		)	—			(17		)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(100,910		)	29,355			56,976			—			(14,579		)
Balance, beginning of year	252,888			23,324			4,384			—			280,596
Balance, end of period	$	151,978		$	52,679		$	61,360		$	—		$	266,017

SALE OF WOOD PRODUCTS BUSINESS (Details) $ in Thousands		3 Months Ended
SALE OF WOOD PRODUCTS BUSINESS (Details) $ in Thousands	Mar. 02, 2013 USD ($) lumber_mill	Mar. 31, 2014 USD ($)	Mar. 31, 2013 USD ($)
Operating results of discontinued operations
Income from discontinued operations, net		$ 0	$ 44,477
Wood Products business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of lumber mills sold \| lumber_mill	3
Base consideration received	$ 80,000		$ 80,000
Description and Timing of Disposal	On March 1, 2013, Rayonier completed the sale of its Wood Products business (consisting of three lumber mills in Baxley, Swainsboro and Eatonton, Georgia) to International Forest Products Limited (“Interfor”)
Description of Proceeds from Divestiture of Business	$80 million plus a working capital adjustment		$80 million plus a working capital adjustment
Segment that Includes Disposal Group	Wood Products business, formerly reported as a separate operating segment
After-tax gain on gain on disposal			$ 42,700
Operating results of discontinued operations
Sales			16,968
Income from discontinued operations, net			$ 44,477

RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales	$ 304,619	$ 266,018
Understatement of Depletion Expense [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales	$ 2,000

RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS Restatement of Consolidated Statements of Income and Comprehensive Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating Income	$ 63,039	$ 115,363
Income tax expense	(7,712)	(4,445)
Income from Continuing Operations	41,343	103,258
NET INCOME	41,343	147,735	$ 373,798
Net Income Attributable to Rayonier Inc.	$ 41,426	$ 147,735
Basic Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations, Basic (in dollars per share)	$ 0.33	$ 0.83
Discontinued Operations, Basic (in dollars per share)	0.00	0.36
Net Income, Basic (in dollars per share)	0.33	1.19
Diluted Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations, Diluted (in dollars per share)	0.32	0.79
Discontinued Operations, Diluted (in dollars per share)	0.00	0.34
Net Income, Diluted (in dollars per share)	$ 0.32	$ 1.13
As Previously Preported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating Income	$ 65,008
Income tax expense	(7,732)
Income from Continuing Operations	43,292
NET INCOME	43,292
Net Income Attributable to Rayonier Inc.	$ 43,375
Basic Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations, Basic (in dollars per share)	$ 0.34
Discontinued Operations, Basic (in dollars per share)	0.00
Net Income, Basic (in dollars per share)	0.34
Diluted Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations, Diluted (in dollars per share)	0.34
Discontinued Operations, Diluted (in dollars per share)	0.00
Net Income, Diluted (in dollars per share)	$ 0.34
Restatement [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating Income	$ (1,969)
Income tax expense	20
Income from Continuing Operations	(1,949)
NET INCOME	(1,949)
Net Income Attributable to Rayonier Inc.	$ (1,949)
Basic Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations, Basic (in dollars per share)	$ (0.01)
Discontinued Operations, Basic (in dollars per share)	0.00
Net Income, Basic (in dollars per share)	(0.01)
Diluted Earnings Per Share Attributable to Rayonier Inc.
Continuing Operations, Diluted (in dollars per share)	(0.02)
Discontinued Operations, Diluted (in dollars per share)	0.00
Net Income, Diluted (in dollars per share)	$ (0.02)

RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS Restatement of Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Prepaid and Other Current Assets	$ 54,577	$ 46,576
Timber and Timberlands, Net of Depletion and Amortization	2,067,549	2,049,378
Retained earnings	994,624	$ 1,015,209
As Previously Preported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Prepaid and Other Current Assets	54,557
Timber and Timberlands, Net of Depletion and Amortization	2,069,518
Retained earnings	996,573
Restatement [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Prepaid and Other Current Assets	20
Timber and Timberlands, Net of Depletion and Amortization	(1,969)
Retained earnings	$ (1,949)

EARNINGS PER COMMON SHARE Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Income amounts attributable to Rayonier Inc.

Income from continuing operations

$ 41,343

$ 103,258

Less: Loss from continuing operations attributable to noncontrolling interest

(83)

Income from continuing operations attributable to Rayonier Inc.

41,426

103,258

Income from discontinued operations attributable to Rayonier Inc.

44,477

NET INCOME ATTRIBUTABLE TO RAYONIER INC.

$ 41,426

$ 147,735

Shares used for determining basic earnings per common share

126,344,987

124,479,865

Dilutive effect of:

Stock options

286,535

533,031

Performance and restricted shares

83,850

448,440

Assumed conversion of Senior Exchangeable Notes

^[1]

1,063,538

2,115,959

Assumed conversion of warrants

^[1],[2]

645,583

2,859,593

Shares used for determining diluted earnings per common share

128,424,493

130,436,888

Basic earnings per common share attributable to Rayonier Inc.:

Continuing operations, Basic (in dollars per share)

$ 0.33

$ 0.83

Discontinued operations, Basic (in dollars per share)

0.00

0.36

Net Income, Basic (in dollars per share)

0.33

1.19

Diluted earnings per common share attributable to Rayonier Inc.:

Continuing operations, Diluted (in dollars per share)

0.32

0.79

Discontinued operations, Diluted (in dollars per share)

0.00

0.34

Net Income, Diluted (in dollars per share)

$ 0.32

$ 1.13

[1]

Rayonier will not issue additional shares upon future exchange or maturity of the Senior Exchangeable Notes due 2015 (the “2015 Notes”) due to offsetting hedges. Accounting Standards Codification 260, Earnings Per Share requires the assumed conversion of the 2015 Notes to be included in dilutive shares if the average stock price for the period exceeds the strike prices, while the assumed conversion of the hedges is excluded since they are anti-dilutive. As such, the full dilutive effect of the 2015 Notes was included for the three months ended March 31, 2013 and March 31, 2014.The Senior Exchangeable Notes due 2012 (the “2012 Notes”) matured in October 2012; however, no additional shares were issued due to offsetting exchangeable note hedges. The warrants sold in conjunction with the 2012 Notes began maturing on January 15, 2013 and matured ratably through March 27, 2013. As a result, 2,037,303 shares were issued through the end of the first quarter of 2013. The dilutive impact of these warrants was calculated based on the length of time they were outstanding before settlement. Rayonier will distribute additional shares upon maturity of the warrants associated with the 2015 Notes if the stock price exceeds $38.97 per share. For further information, see Note 13 — Debt in the Amended Form 10-K and Note 16 — Debt of this Form 10-Q/A.

[2]

The shares used for the assumed conversion of the warrants decreased in the first quarter of 2014 as there was no dilutive impact from the warrants on the 2012 Notes.

EARNINGS PER COMMON SHARE Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Anti-dilutive shares excluded from the computations of diluted earnings per share

1,794,584

2,336,660

Stock options, performance and restricted shares [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Anti-dilutive shares excluded from the computations of diluted earnings per share

731,046

220,701

Assumed conversion of exchangable note hedges [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Anti-dilutive shares excluded from the computations of diluted earnings per share

^[1]

1,063,538

2,115,959

[1]

EARNINGS PER COMMON SHARE Parenthetical (Details)	3 Months Ended
EARNINGS PER COMMON SHARE Parenthetical (Details)	Mar. 31, 2013 shares	Mar. 31, 2014 $ / unit
Warrants on Senior Exchangeable Notes due 2012 [Member]
Class of Warrant or Right [Line Items]
Beginning Date for Maturity of Warrants	Jan. 15, 2013
Ending Date for Maturity of Warrants	Mar. 27, 2013
Shares issued on conversion of warrants \| shares	2,037,303
Warrants on Senior Exchangeable Notes due 2015 [Member]
Class of Warrant or Right [Line Items]
Strike price of warrants \| $ / unit		38.97

INCOME TAXES AFMC for CBPC exchange Narrative (Details) gal in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2013 USD ($) gal	Dec. 31, 2009 tax_credit $ / gal
AFMC for CBPC Exchange [Line Items]
Number of tax credits \| tax_credit		2
Alternative Fuel Mixture Credit [Member]
AFMC for CBPC Exchange [Line Items]
Tax Credit Amount per Gallon \| $ / gal		0.50
Cellulosic Biofuel Producer Credit [Member]
AFMC for CBPC Exchange [Line Items]
Tax Credit Amount per Gallon \| $ / gal		1.01
Exchange of Alternative Fuel Tax Benefit [Member]
AFMC for CBPC Exchange [Line Items]
Tax payment \| $	$ 70
Gallons Exchanged \| gal	120
Income Tax Benefit \| $	$ 19

INCOME TAXES Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Tax Disclosure [Abstract]
Income tax expense at federal statutory rate	$ 17,000	$ 38,000
Income tax expense at federal statutory rate (percent)	35.00%	35.00%
REIT income not subject to tax	$ (7,000)	$ (11,000)
REIT income not subject to tax (percent)	(14.20%)	(10.10%)
Manufacturing deduction	$ (1,000)	$ (2,000)
Manufacturing deduction (percent)	(2.20%)	(2.20%)
Other	$ 0	$ 0
Other (percent)	(0.10%)	0.70%
Income tax expense before discrete items	$ 9,000	$ 25,000
Income tax expense before discrete items (percent)	18.50%	23.40%
Exchange of AFMC for CBPC	$ 0	$ (19,000)
Exchange of AFMC for CBPC (percent)	0.00%	(17.50%)
Other	$ (1,000)	$ (2,000)
Other (percent)	(2.80%)	(1.80%)
Income tax expense as reported	$ 7,712	$ 4,445
Income tax expense as reported (percent)	15.70%	4.10%

INCOME TAXES Provision for Income Taxes from Discontinued Operations and Unrecognized Tax Benefits Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Mar. 02, 2013	Mar. 31, 2014	Mar. 31, 2013
Operating Loss Carryforwards [Line Items]
Discontinued Operation, Tax Effect of Discontinued Operation		$ 0	$ 22,273
Wood Products business [Member]
Operating Loss Carryforwards [Line Items]
Base consideration received	$ 80,000		$ 80,000
Description of Proceeds from Divestiture of Business	$80 million plus a working capital adjustment		$80 million plus a working capital adjustment
Discontinued Operation, Tax Effect of Discontinued Operation			$ 22,300
Discontinued Operation, Tax Effect of Income (Loss) from Disposal of Discontinued Operation			$ 21,400

INCOME TAXES Unrecognized Tax Benefits Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2014 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefit reclassified to current deferred tax assets	$ 3.9

RESTRICTED DEPOSITS (Details) - USD ($) $ in Millions	3 Months Ended
RESTRICTED DEPOSITS (Details) - USD ($) $ in Millions	Mar. 31, 2014	Dec. 31, 2013
Restricted Cash and Investments [Abstract]
Maximum Time Period Proceeds From LKE Sale Maintained with Third Party Intermediary	180 days
Restricted Cash and Cash Equivalents	$ 23.6	$ 68.9

JOINT VENTURE INVESTMENT Narrative (Details) Acres in Millions, $ in Millions	Apr. 04, 2013 USD ($) Acres	Mar. 31, 2013
Business Acquisition [Line Items]
Effective Date of Acquisition	Apr. 04, 2013
Additional ownership interest acquired	39.00%
Name of Acquired Entity	Matariki Forestry Group
Description of Acquired Entity	a joint venture (“New Zealand JV”) that owns or leases approximately 0.3 million acres of New Zealand timberlands.
Post-acquisition ownership percentage	65.00%
Ownership Percentage by Noncontrolling Owners	35.00%
Pre-acquisition ownership percentage	26.00%	26.00%
Purchase price	$ 139.9
Step Acquisition Description	The additional 39 percent interest was acquired for $139.9 million and resulted in the Company obtaining a controlling financial interest in the New Zealand JV and accordingly, the purchase was accounted for as a step-acquisition. Upon consolidation, the Company recognized a $10.1 million deferred gain, which resulted from the original sale of its New Zealand operations to the joint venture in 2005 and a $6 million benefit due to the required fair market value remeasurement of the Company’s equity interest in the New Zealand JV held before the purchase of the additional interest.
Acquisition date fair value	$ 93.3
Matariki Forestry Group [Member]
Business Acquisition [Line Items]
Acres Of Timberland Owned Managed \| Acres	0.3
Recognition of deferred gain on original sale of operations [Member]
Business Acquisition [Line Items]
Step Acquisition, Remeasurement Gain, Amount	$ 10.1
Gain on fair market value revaluation of equity interest [Member]
Business Acquisition [Line Items]
Step Acquisition, Remeasurement Gain, Amount	$ 6.0

JOINT VENTURE INVESTMENT Business Acquisition, Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Business Combinations [Abstract]
Sales	$ 37,764
Net Loss	$ (734)
Sales		$ 428,245
Net Income		$ 146,280

SHAREHOLDERS'S EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders' equity, Beginning balance	$ 1,755,243	$ 1,438,004	$ 1,438,004
Net income (loss)	41,343	147,735	373,798
Dividends ($1.86 per share for 2013 and $0.49 per share for 3 months ended 3/31/14)	(62,011)		(233,321)
Issuance of shares under incentive stock plans	2,027		10,101
Stock-based compensation	3,103		11,710
Excess tax benefit (deficiency) on stock-based compensation	(1,240)		8,413
Repurchase of common shares	(1,754)		(11,326)
Equity portion of convertible debt (Note 15)			2,453
Amortization of / net gain from pension and postretirement plans	2,097	4,969	61,869
Acquisition of noncontrolling interest			96,336
Noncontrolling interest redemption of shares	(679)		(713)
Foreign currency translation adjustment, Total	17,803	975	(5,710)
Joint venture cash flow hedges, Total	1,711	$ 554	3,629
Total stockholders' equity, Ending balance	$ 1,757,643		$ 1,755,243	$ 1,438,004
Dividends [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.49			$ 1.86
Warrants on Senior Exchangeable Notes due 2012 [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Settlement of warrants (Note 15) (in shares)		2,037,303
Common Shares [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance (in shares)	126,257,870	123,332,444	123,332,444
Total stockholders' equity, Beginning balance	$ 692,100	$ 670,749	$ 670,749
Issuance of shares under incentive stock plan (in shares)	235,843		1,001,426
Issuance of shares under incentive stock plans	$ 2,027		$ 10,101
Stock-based compensation	3,103		11,710
Excess tax benefit (deficiency) on stock-based compensation	$ (1,240)		$ 8,413
Repurchase of common shares (in shares)	(42,208)		(211,221)
Repurchase of common shares	$ (1,754)		$ (11,326)
Equity portion of convertible debt (Note 15)			$ 2,453
Stockholders' equity, ending balance (in shares)	126,451,505		126,257,870	123,332,444
Total stockholders' equity, Ending balance	$ 694,236		$ 692,100	$ 670,749
Common Shares [Member] \| Warrants on Senior Exchangeable Notes due 2012 [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Settlement of warrants (Note 15) (in shares)			2,135,221
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders' equity, Beginning balance	1,015,209	876,634	$ 876,634
Net income (loss)	41,426		371,896
Dividends ($1.86 per share for 2013 and $0.49 per share for 3 months ended 3/31/14)	(62,011)		(233,321)
Total stockholders' equity, Ending balance	994,624		1,015,209	876,634
Accumulated Other Comprehensive Income (Loss) [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders' equity, Beginning balance	(46,139)	(109,379)	(109,379)
Amortization of / net gain from pension and postretirement plans	2,097		61,869
Foreign currency translation adjustment, Total	12,893		(1,915)
Joint venture cash flow hedges, Total	1,112		3,286
Total stockholders' equity, Ending balance	(30,037)		(46,139)	(109,379)
Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders' equity, Beginning balance	94,073	$ 0	0
Net income (loss)	(83)		1,902
Acquisition of noncontrolling interest			96,336
Noncontrolling interest redemption of shares	(679)		(713)
Foreign currency translation adjustment, Total	4,910		(3,795)
Joint venture cash flow hedges, Total	599		343
Total stockholders' equity, Ending balance	$ 98,820		$ 94,073	$ 0

SEGMENT AND GEOGRAPHICAL INFORMATION Narrative (Details)	3 Months Ended
	Mar. 31, 2014 product_line segment
Segment Reporting [Abstract]
Number of reportable segments \| segment	3
Number of product lines \| product_line	2

SEGMENT AND GEOGRAPHICAL INFORMATION Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Segment Reporting Information [Line Items]

ASSETS

$ 3,642,829

$ 3,685,501

SALES

386,686

$ 393,719

OPERATING INCOME

63,039

115,363

DEPRECIATION, DEPLETION AND AMORTIZATION

48,728

35,992

Forest Resources [Member]

Segment Reporting Information [Line Items]

ASSETS

2,187,498

2,162,913

SALES

^[1]

104,678

57,102

OPERATING INCOME

25,546

13,255

DEPRECIATION, DEPLETION AND AMORTIZATION

^[2]

26,887

16,444

Real Estate [Member]

Segment Reporting Information [Line Items]

ASSETS

113,376

149,001

SALES

5,530

24,297

OPERATING INCOME

725

16,842

DEPRECIATION, DEPLETION AND AMORTIZATION

910

4,177

Performance Fibers [Member]

Segment Reporting Information [Line Items]

ASSETS

1,095,574

1,078,645

SALES

241,768

284,188

OPERATING INCOME

48,980

91,670

DEPRECIATION, DEPLETION AND AMORTIZATION

20,649

15,153

Other Operations [Member]

Segment Reporting Information [Line Items]

ASSETS

35,121

37,334

SALES

37,417

28,227

OPERATING INCOME

184

165

Corporate and other [Member]

Segment Reporting Information [Line Items]

ASSETS

211,260

$ 257,608

OPERATING INCOME

^[3]

(12,396)

(6,569)

DEPRECIATION, DEPLETION AND AMORTIZATION

282

218

Separation Costs

3,300

Intersegment Eliminations [Member]

Segment Reporting Information [Line Items]

SALES

(2,707)

$ (95)

New Zealand Joint Venture [Member] | Forest Resources [Member]

Segment Reporting Information [Line Items]

SALES

38,000

DEPRECIATION, DEPLETION AND AMORTIZATION

$ 7,000

[1]	First quarter 2014 included $38 million in sales from the consolidation of the New Zealand JV. See Note 7 — Joint Venture Investment.
[2]	2014 included an increase of approximately $7 million in depletion expenses related to the consolidation of the New Zealand JV. See Note 7 — Joint Venture Investment.
[3]	First quarter 2014 included $3.3 million of separation costs related to the planned separation of the Performance Fibers business from the Forest Resources and Real Estate businesses.

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Narrative (Details)	Mar. 31, 2014
Derivative [Line Items]
Foreign currency exposure hedged for forecasted sales in next three months (in percent, least amount)	70.00%
Foreign currency exposure hedged for forecasted sales in next twelve months (in percent, least amount)	50.00%
Not Designated as Hedging Instrument [Member] \| Senior Secured Facilities Agreement as Amended July 2013, Revolving Cash Advance Facility due 2016 [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Percent of New Zealand JV variable rate debt hedged	88.00%

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Income Statement Location (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2014 USD ($)
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
AOCI balance expected to be reclassified in next twelve months, net of tax	$ 2,700
Designated as Hedging Instrument [Member] \| Foreign currency exchange contracts [Member] \| Other comprehensive income (loss) [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Designated hedged item, gain (loss) recognized in other comprehensive income	1,487
Designated as Hedging Instrument [Member] \| Foreign currency option contracts [Member] \| Other comprehensive income (loss) [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Designated hedged item, gain (loss) recognized in other comprehensive income	725
Not Designated as Hedging Instrument [Member] \| Foreign currency exchange contracts [Member] \| Other operating expense (income) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (Ioss) recognized in income	25
Not Designated as Hedging Instrument [Member] \| Foreign currency option contracts [Member] \| Other operating expense (income) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (Ioss) recognized in income	7
Not Designated as Hedging Instrument [Member] \| Interest rate swaps [Member] \| Interest and other miscellaneous income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (Ioss) recognized in income	(1,134)
Not Designated as Hedging Instrument [Member] \| Fuel hedge contracts [Member] \| Cost of sales - benefit [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Non-designated hedged item, gain (Ioss) recognized in income	$ 317

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Notional Amounts (Details)
bbl in Thousands, $ in Thousands

Mar. 31, 2014

USD ($)

bbl

Dec. 31, 2013

USD ($)

bbl

Foreign currency exchange contracts [Member] | Not Designated as Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

Notional Amount

^[1]

$ 0

$ 1,950

Foreign currency option contracts [Member] | Not Designated as Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

Notional Amount

^[1]

4,000

Interest rate swaps [Member] | Not Designated as Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

Notional Amount

^[1]

$ 179,066

$ 183,851

Fuel hedge contracts [Member] | Not Designated as Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

Notional Amount (in thousands of barrels) | bbl

^[1]

Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | Designated as Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

Notional Amount

^[1]

$ 37,064

$ 32,300

Cash Flow Hedging [Member] | Foreign currency option contracts [Member] | Designated as Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

Notional Amount

^[1]

$ 37,500

$ 38,000

[1]	All notional amounts are stated in thousands of dollars except fuel contracts which are denominated in thousands of barrels.

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Balance Sheet Location (Details) - USD ($)
$ in Thousands

Mar. 31, 2014

Dec. 31, 2013

Derivatives, Fair Value [Line Items]

Fair value, derivative liability

^[1]

$ (5,478)

$ (4,873)

Other current liabilities [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative liability

^[1]

(333)

(214)

Other non-current liabilities [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative liability

^[1]

(5,145)

(4,659)

Prepaid and other current assets [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative asset

^[1]

3,949

1,781

Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | Other current liabilities [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative liability

^[1]

(84)

Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | Prepaid and other current assets [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative asset

^[1]

2,616

915

Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency option contracts [Member] | Other current liabilities [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative liability

^[1]

(90)

(214)

Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency option contracts [Member] | Prepaid and other current assets [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative asset

^[1]

1,333

673

Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Prepaid and other current assets [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative asset

^[1]

Not Designated as Hedging Instrument [Member] | Foreign currency option contracts [Member] | Prepaid and other current assets [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative asset

^[1]

Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | Other non-current liabilities [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative liability

^[1]

(5,145)

(4,659)

Not Designated as Hedging Instrument [Member] | Fuel hedge contracts [Member] | Other current liabilities [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative liability

^[1]

(159)

Not Designated as Hedging Instrument [Member] | Fuel hedge contracts [Member] | Prepaid and other current assets [Member]

Derivatives, Fair Value [Line Items]

Fair value, derivative asset

^[1]

$ 0

$ 160

[1]	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 Fair Values Measured on Recurring Basis (Details) - USD ($)
$ in Thousands

Mar. 31, 2014

Dec. 31, 2013

Carrying Value [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash and cash equivalents

$ 156,071

$ 199,644

Restricted cash

^[1]

23,633

68,944

Current maturities of long-term debt

(114,319)

(112,500)

Long-term debt

(1,393,887)

(1,461,724)

Carrying Value [Member] | Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate swaps

^[2]

(5,145)

(4,659)

Carrying Value [Member] | Fair Value, Measurements, Recurring [Member] | Energy Related Derivative [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fuel contracts

^[2]

(159)

160

Carrying Value [Member] | Fair Value, Measurements, Recurring [Member] | Foreign currency exchange contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign currency option contracts

^[2]

2,532

940

Carrying Value [Member] | Fair Value, Measurements, Recurring [Member] | Foreign currency option contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign currency option contracts

^[2]

1,243

467

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash and cash equivalents

156,071

199,644

Restricted cash

^[1]

23,633

68,944

Current maturities of long-term debt

Long-term debt

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate swaps

^[2]

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Energy Related Derivative [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fuel contracts

^[2]

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign currency exchange contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign currency option contracts

^[2]

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign currency option contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign currency option contracts

^[2]

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash and cash equivalents

Restricted cash

^[1]

Current maturities of long-term debt

(122,187)

(119,614)

Long-term debt

(1,451,984)

(1,489,810)

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate swaps

^[2]

(5,145)

(4,659)

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Energy Related Derivative [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fuel contracts

^[2]

(159)

160

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign currency exchange contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign currency option contracts

^[2]

2,532

940

Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign currency option contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign currency option contracts

^[2]

$ 1,243

$ 467

[1]	Restricted cash is recorded in “Other Assets” and represents the proceeds from LKE sales deposited with a third-party intermediary.
[2]	See Note 10 — Derivative Financial Instruments and Hedging Activities for information regarding the Balance Sheet classification of the Company’s derivative financial instruments.

FAIR VALUE MEASUREMENTS Fair Value Measurements Methods and Assumptions (Details)	3 Months Ended
	Mar. 31, 2014
Foreign currency exchange contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques	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 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques	The fair value of foreign currency option contracts is based on a mark-to-market calculation using the Black-Scholes option pricing model.
Borrowings [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques	The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities.
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques	The fair value of interest rate contracts is determined by discounting the expected future cash flows, for each instrument, at prevailing interest rates.
Cash, Cash Equivalents and Restricted Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques	The carrying amount is equal to fair market value

GUARANTEES (Details)
$ in Thousands

3 Months Ended

Mar. 31, 2014

USD ($)

Guarantor Obligations [Line Items]

Maximum Potential Payment

$ 25,107

Carrying Amount of Associated Liability

16,142

Standby letters of credit [Member]

Guarantor Obligations [Line Items]

Maximum Potential Payment

17,355

^[1]

Carrying Amount of Associated Liability

15,000

^[1]

Guarantor Obligations Collateral for Industrial Revenue Bonds

$ 15,000

Guarantor Obligations, Term

various dates during 2014

Guarantees [Member]

Guarantor Obligations [Line Items]

Maximum Potential Payment

$ 2,254

^[2]

Carrying Amount of Associated Liability

$ 43

^[2]

Variable Interest Entity Recorded Liability For Performance Obligation

de minimus liability

Surety bonds [Member]

Guarantor Obligations [Line Items]

Maximum Potential Payment

$ 5,498

^[3]

Carrying Amount of Associated Liability

$ 1,099

^[3]

Guarantor Obligations, Term

various dates during 2014 and 2015

[1]	Approximately $15 million of the standby letters of credit serve as credit support for industrial revenue bonds. The remaining letters of credit support various insurance related agreements, primarily workers’ compensation and pollution liability policy requirements. These letters of credit will expire at various dates during 2014 and will be renewed as required.
[2]	In conjunction with a timberland sale and note monetization in the first quarter of 2004, the Company issued a make-whole agreement pursuant to which it guaranteed $2.3 million of obligations of a special-purpose entity that was established to complete the monetization. At March 31, 2014, the Company has a de minimus liability to reflect the fair market value of its obligation to perform under the make-whole agreement.
[3]	Rayonier issues surety bonds primarily to secure timber harvesting obligations in the State of Washington and to provide collateral for the Company’s workers’ compensation self-insurance program in that state. These surety bonds expire at various dates during 2014 and 2015 and are expected to be renewed as required.

LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS Analysis of Activity (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance, beginning of period	$ 76,378	$ 81,695
Expenditures charged to liabilities	(2,498)	(8,570)
Increase to liabilities	22	3,253
Balance, end of period	73,902	76,378
Less: Current portion	(6,446)	(6,835)
Non-current portion	$ 67,456	$ 69,543

LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2014 USD ($)
Liabilities of Disposal Group, Including Discontinued Operation [Abstract]
Environmental Applicability, Impact and Conclusion Disclosures	These prior dispositions and discontinued operations are exposed to the risk of reasonably possible additional losses in excess of the established liabilities. As of March 31, 2014, this amount could range up to $30 million, attributable to several of the applicable sites, and arises from uncertainty over the availability, feasibility and effectiveness of certain remediation technologies, additional or different contamination that may be discovered, development of new or more effective environmental remediation technologies, potential changes in applicable law and regulations, and the exercise of discretion in interpretation of applicable law and regulations by governmental agencies.
Environmental Contingency, Loss Exposure in Excess of Accrual, High Estimate	$ 30
Environmental Loss Contingencies Term	20 years
Environmental Exit Costs, Nature of Costs	Remedial actions for these sites vary, but include on-site (and in certain cases off-site) removal or treatment of contaminated soils and sediments, recovery and treatment/remediation of groundwater, and source remediation and/or control.

EMPLOYEE BENEFIT PLANS Narrative (Details)	3 Months Ended
EMPLOYEE BENEFIT PLANS Narrative (Details)	Mar. 31, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Defined Benefit Plans, General Information	The Company has four qualified non-contributory defined benefit pension plans covering a significant majority of its employees
Defined Benefit Plan, Unfunded Plan	an unfunded plan that provides benefits in excess of amounts allowable under current tax law in the qualified plans
Defined Benefit Plan, Other Information	Currently, all qualified plans are closed to new participants.

EMPLOYEE BENEFIT PLANS Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,624	$ 2,419
Interest cost	4,683	4,834
Expected return on plan assets	(6,658)	(7,424)
Amortization of prior service cost	292	388
Amortization of losses	2,737	5,727
Amortization of negative plan amendment	0	0
Net periodic benefit cost	2,678	5,944
Postretirement [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	179	249
Interest cost	206	240
Expected return on plan assets	0	0
Amortization of prior service cost	4	6
Amortization of losses	129	218
Amortization of negative plan amendment	(134)	0
Net periodic benefit cost	$ 384	$ 713

DEBT Narrative (Details) $ in Millions	3 Months Ended
DEBT Narrative (Details) $ in Millions	Mar. 31, 2014 USD ($)
April 2011 Line of Credit as Amended October 2012 [Member]
Debt Instrument [Line Items]
Repayments on line of credit	$ 80.0
Remaining borrowing capacity	323.0
Amount to secure letters of credit	$ 2.0
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member]
Debt Instrument [Line Items]
Maturity date	2015
Exchange period beginning date	Mar. 31, 2014
Exchange feature description	According to the indenture, in order for the notes to become exchangeable, the Company’s stock price must exceed 130 percent of the exchange price for 20 trading days during a period of 30 consecutive trading days as of the last day of the quarter.
Percent of the exchange price the stock price must exceed	130.00%
Trading day threshold	20 days
Number of trading days for stock price	30 days
Exchange feature end date	Jun. 30, 2014
Term Credit Agreement due 2019 [Member]
Debt Instrument [Line Items]
Additional borrowings	$ 1.8
Unused borrowing capacity	$ 18.1

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Beginning balance

$ (46,139)

Other comprehensive income before reclassifications

14,497

Amounts reclassified from accumulated other comprehensive income

1,605

Net other comprehensive income

16,102

Ending balance

(30,037)

Other operating (income) expense, net

3,537

$ (3,503)

Comprehensive income (loss) attributable to noncontrolling interest

5,425

Income tax expense

7,712

$ 4,445

Foreign currency translation gains [Member]

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Beginning balance

36,914

Other comprehensive income before reclassifications

12,893

Amounts reclassified from accumulated other comprehensive income

Net other comprehensive income

12,893

Ending balance

49,807

New Zealand joint venture cash flow hedges [Member]

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Beginning balance

(342)

Other comprehensive income before reclassifications

1,604

Amounts reclassified from accumulated other comprehensive income

(492)

Net other comprehensive income

1,112

Ending balance

770

Unrecognized components of employee benefit plans [Member]

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Beginning balance

(82,711)

Other comprehensive income before reclassifications

Amounts reclassified from accumulated other comprehensive income

^[1]

2,097

Net other comprehensive income

2,097

Ending balance

(80,614)

Reclassification out of Accumulated Other Comprehensive Income [Member] | New Zealand joint venture cash flow hedges [Member]

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Amounts reclassified from accumulated other comprehensive income

(492)

Comprehensive income (loss) attributable to noncontrolling interest

343

Income tax expense

144

Reclassification out of Accumulated Other Comprehensive Income [Member] | New Zealand joint venture cash flow hedges [Member] | Foreign Currency Exchange Contract [Member]

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Other operating (income) expense, net

(872)

Reclassification out of Accumulated Other Comprehensive Income [Member] | New Zealand joint venture cash flow hedges [Member] | Foreign Currency Option [Member]

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Other operating (income) expense, net

$ (107)

[1]	This accumulated other comprehensive income component is included in the computation of net periodic pension cost. See Note 15 — Employee Benefit Plans for additional information.

OTHER OPERATING (EXPENSE) INCOME, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Other Operating Income, Net [Abstract]
Lease income, primarily from hunting leases	$ 3,036	$ 2,462
Other non-timber income	552	474
Foreign currency loss	(1,490)	(184)
Loss on sale or disposal of property, plant & equipment	(532)	(429)
(Loss) gain on foreign currency exchange contracts	(32)	1,881
Separation costs related to Rayonier Advanced Materials Inc.	(3,318)	(86)
Miscellaneous expense, net	(1,753)	(615)
Total	$ (3,537)	$ 3,503

CONSOLIDATING FINANCIAL STATEMENTS Narrative (Details)	3 Months Ended
CONSOLIDATING FINANCIAL STATEMENTS Narrative (Details)	Mar. 31, 2014 USD ($)
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member]
Debt Instrument [Line Items]
Issuance Date	August 2009
Face Amount	$ 172,500,000
Stated interest rate	4.50%
Maturity date	2015
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member]
Debt Instrument [Line Items]
Issuance Date	March 2012
Face Amount	$ 325,000,000
Stated interest rate	3.75%
Maturity date	2022

CONSOLIDATING FINANCIAL STATEMENTS Condensed Consolidating Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Income Statement [Abstract]
SALES	$ 386,686	$ 393,719
Cost of sales	304,619	266,018
Selling and general expenses	15,491	16,099
Other operating (income) expense, net	3,537	(3,503)
Costs and Expenses, Total	323,647	278,614
Equity in income of New Zealand joint venture	0	258
OPERATING INCOME	63,039	115,363
Interest (expense) income	(12,969)	(7,717)
Interest and miscellaneous income (expense), net	(1,015)	57
Equity in income from subsidiaries	0	0
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	49,055	107,703
Income tax (expense) benefit	(7,712)	(4,445)
Income from continuing operations	41,343	103,258
Income from discontinued operations, net	0	44,477
NET INCOME	41,343	147,735	$ 373,798
Less: Net loss attributable to noncontrolling interest	(83)	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,426	147,735
Foreign currency translation adjustment	17,803	975	(5,710)
New Zealand joint venture cash flow hedges	1,711	554	3,629
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	(2,097)	(4,969)	$ (61,869)
Total other comprehensive income	21,611	6,498
COMPREHENSIVE INCOME	62,954	154,233
Less: Comprehensive income attributable to noncontrolling interest	5,425	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	57,529	154,233
Rayonier Inc. (Parent Guarantor) [Member]
Income Statement [Abstract]
SALES	0	0
Cost of sales	0	0
Selling and general expenses	0	0
Other operating (income) expense, net	0	(1,881)
Costs and Expenses, Total	0	(1,881)
Equity in income of New Zealand joint venture		0
OPERATING INCOME	0	1,881
Interest (expense) income	(3,193)	(3,275)
Interest and miscellaneous income (expense), net	2,698	2,419
Equity in income from subsidiaries	41,921	146,710
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	41,426	147,735
Income tax (expense) benefit	0	0
Income from continuing operations		147,735
Income from discontinued operations, net		0
NET INCOME	41,426	147,735
Less: Net loss attributable to noncontrolling interest	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,426
Foreign currency translation adjustment	12,894	975
New Zealand joint venture cash flow hedges	1,112	554
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	(2,097)	(4,969)
Total other comprehensive income	16,103	6,498
COMPREHENSIVE INCOME	57,529	154,233
Less: Comprehensive income attributable to noncontrolling interest	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	57,529
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| ROC (Subsidiary Guarantor) [Member]
Income Statement [Abstract]
SALES	0	0
Cost of sales	0	0
Selling and general expenses	2,150	2,401
Other operating (income) expense, net	2,375	523
Costs and Expenses, Total	4,525	2,924
Equity in income of New Zealand joint venture		0
OPERATING INCOME	(4,525)	(2,924)
Interest (expense) income	(243)	(252)
Interest and miscellaneous income (expense), net	814	529
Equity in income from subsidiaries	46,478	148,765
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	42,524	146,118
Income tax (expense) benefit	(603)	592
Income from continuing operations		146,710
Income from discontinued operations, net		0
NET INCOME	41,921	146,710
Less: Net loss attributable to noncontrolling interest	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,921
Foreign currency translation adjustment	12,893	975
New Zealand joint venture cash flow hedges	1,112	554
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	(2,097)	(4,969)
Total other comprehensive income	16,102	6,498
COMPREHENSIVE INCOME	58,023	153,208
Less: Comprehensive income attributable to noncontrolling interest	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	58,023
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Rayonier TRS Holdings Inc. (Issuer) [Member]
Income Statement [Abstract]
SALES	0	0
Cost of sales	0	0
Selling and general expenses	0	0
Other operating (income) expense, net	0	0
Costs and Expenses, Total	0	0
Equity in income of New Zealand joint venture		0
OPERATING INCOME	0	0
Interest (expense) income	(6,690)	(6,618)
Interest and miscellaneous income (expense), net	(1,047)	(751)
Equity in income from subsidiaries	31,110	123,469
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	23,373	116,100
Income tax (expense) benefit	2,824	2,690
Income from continuing operations		118,790
Income from discontinued operations, net		0
NET INCOME	26,197	118,790
Less: Net loss attributable to noncontrolling interest	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	26,197
Foreign currency translation adjustment	766	240
New Zealand joint venture cash flow hedges	1,112	0
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	(1,620)	(4,012)
Total other comprehensive income	3,498	4,252
COMPREHENSIVE INCOME	29,695	123,042
Less: Comprehensive income attributable to noncontrolling interest	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	29,695
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Non-guarantors [Member]
Income Statement [Abstract]
SALES	386,686	393,719
Cost of sales	304,619	266,018
Selling and general expenses	13,341	13,698
Other operating (income) expense, net	1,162	(2,145)
Costs and Expenses, Total	319,122	277,571
Equity in income of New Zealand joint venture		258
OPERATING INCOME	67,564	116,406
Interest (expense) income	(2,843)	2,428
Interest and miscellaneous income (expense), net	(3,480)	(2,140)
Equity in income from subsidiaries	0	0
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	61,241	116,694
Income tax (expense) benefit	(9,933)	(7,727)
Income from continuing operations		108,967
Income from discontinued operations, net		44,477
NET INCOME	51,308	153,444
Less: Net loss attributable to noncontrolling interest	(83)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	51,391
Foreign currency translation adjustment	17,795	975
New Zealand joint venture cash flow hedges	1,711	554
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	(1,620)	0
Total other comprehensive income	21,126	1,529
COMPREHENSIVE INCOME	72,434	154,973
Less: Comprehensive income attributable to noncontrolling interest	5,425
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	67,009
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Consolidation Adjustments [Member]
Income Statement [Abstract]
SALES	0	0
Cost of sales	0	0
Selling and general expenses	0	0
Other operating (income) expense, net	0	0
Costs and Expenses, Total	0	0
Equity in income of New Zealand joint venture		0
OPERATING INCOME	0	0
Interest (expense) income	0	0
Interest and miscellaneous income (expense), net	0	0
Equity in income from subsidiaries	(119,509)	(418,944)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(119,509)	(418,944)
Income tax (expense) benefit	0	0
Income from continuing operations		(418,944)
Income from discontinued operations, net		0
NET INCOME	(119,509)	(418,944)
Less: Net loss attributable to noncontrolling interest	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	(119,509)
Foreign currency translation adjustment	(26,545)	(2,190)
New Zealand joint venture cash flow hedges	(3,336)	(1,108)
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	5,337	8,981
Total other comprehensive income	(35,218)	(12,279)
COMPREHENSIVE INCOME	(154,727)	(431,223)
Less: Comprehensive income attributable to noncontrolling interest	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	(154,727)
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| ROC (Subsidiary Guarantor) [Member]
Income Statement [Abstract]
SALES	0	0
Cost of sales	0	0
Selling and general expenses	2,150	2,401
Other operating (income) expense, net	2,375	523
Costs and Expenses, Total	4,525	2,924
Equity in income of New Zealand joint venture		0
OPERATING INCOME	(4,525)	(2,924)
Interest (expense) income	(6,933)	(6,870)
Interest and miscellaneous income (expense), net	(233)	(222)
Equity in income from subsidiaries	51,391	153,444
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	39,700	143,428
Income tax (expense) benefit	2,221	3,282
Income from continuing operations		146,710
Income from discontinued operations, net		0
NET INCOME	41,921	146,710
Less: Net loss attributable to noncontrolling interest	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	41,921
Foreign currency translation adjustment	12,892	975
New Zealand joint venture cash flow hedges	1,112	554
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	(2,097)	(4,969)
Total other comprehensive income	16,101	6,498
COMPREHENSIVE INCOME	58,022	153,208
Less: Comprehensive income attributable to noncontrolling interest	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	58,022
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| Non-guarantors [Member]
Income Statement [Abstract]
SALES	386,686	393,719
Cost of sales	304,619	266,018
Selling and general expenses	13,341	13,698
Other operating (income) expense, net	1,162	(2,145)
Costs and Expenses, Total	319,122	277,571
Equity in income of New Zealand joint venture		258
OPERATING INCOME	67,564	116,406
Interest (expense) income	(2,843)	2,428
Interest and miscellaneous income (expense), net	(3,480)	(2,140)
Equity in income from subsidiaries	0	0
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	61,241	116,694
Income tax (expense) benefit	(9,933)	(7,727)
Income from continuing operations		108,967
Income from discontinued operations, net		44,477
NET INCOME	51,308	153,444
Less: Net loss attributable to noncontrolling interest	(83)
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	51,391
Foreign currency translation adjustment	17,795	975
New Zealand joint venture cash flow hedges	1,711	554
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	(1,620)	0
Total other comprehensive income	21,126	1,529
COMPREHENSIVE INCOME	72,434	154,973
Less: Comprehensive income attributable to noncontrolling interest	5,425
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	67,009
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| Consolidation Adjustments [Member]
Income Statement [Abstract]
SALES	0	0
Cost of sales	0	0
Selling and general expenses	0	0
Other operating (income) expense, net	0	0
Costs and Expenses, Total	0	0
Equity in income of New Zealand joint venture		0
OPERATING INCOME	0	0
Interest (expense) income	0	0
Interest and miscellaneous income (expense), net	0	0
Equity in income from subsidiaries	(93,312)	(300,154)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(93,312)	(300,154)
Income tax (expense) benefit	0	0
Income from continuing operations		(300,154)
Income from discontinued operations, net		0
NET INCOME	(93,312)	(300,154)
Less: Net loss attributable to noncontrolling interest	0
NET INCOME ATTRIBUTABLE TO RAYONIER INC.	(93,312)
Foreign currency translation adjustment	(25,778)	(1,950)
New Zealand joint venture cash flow hedges	(2,224)	(1,108)
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	3,717	4,969
Total other comprehensive income	(31,719)	(8,027)
COMPREHENSIVE INCOME	(125,031)	$ (308,181)
Less: Comprehensive income attributable to noncontrolling interest	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC.	$ (125,031)

CONSOLIDATING FINANCIAL STATEMENTS Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 156,071	$ 199,644	$ 266,017	$ 280,596
Accounts receivable, less allowance for doubtful accounts	111,697	94,956
Inventory	141,928	138,818
Deferred tax assets	31,580	39,100
Prepaid and other current assets	54,577	46,576
Total current assets	495,853	519,094
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,067,549	2,049,378
NET PROPERTY, PLANT AND EQUIPMENT	861,969	860,821
INVESTMENT IN SUBSIDIARIES	0	0
INTERCOMPANY NOTES RECEIVABLE	0	0
OTHER ASSETS	217,458	256,208
TOTAL ASSETS	3,642,829	3,685,501
CURRENT LIABILITIES
Accounts payable	86,282	69,293
Current maturities of long-term debt	114,319	112,500
Accrued taxes	11,374	8,551
Accrued payroll and benefits	19,261	24,948
Accrued interest	13,857	9,531
Accrued customer incentives	10,082	9,580
Other current liabilities	35,870	34,874
Current liabilities for dispositions and discontinued operations	6,446	6,835
Total current liabilities	297,491	276,112
LONG-TERM DEBT	1,393,887	1,461,724
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	67,456	69,543
PENSION AND OTHER POSTRETIREMENT BENEFITS	95,098	95,654
OTHER NON-CURRENT LIABILITIES	31,254	27,225
INTERCOMPANY PAYABLE	0	0
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,658,823	1,661,170
Noncontrolling interest	98,820	94,073
TOTAL SHAREHOLDERS’ EQUITY	1,757,643	1,755,243		1,438,004
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	3,642,829	3,685,501
Rayonier Inc. (Parent Guarantor) [Member]
CURRENT ASSETS
Cash and cash equivalents	93,840	130,181	151,978	252,888
Accounts receivable, less allowance for doubtful accounts	0	0
Inventory	0	0
Deferred tax assets	0	0
Prepaid and other current assets	0	0
Total current assets	93,840	130,181
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
NET PROPERTY, PLANT AND EQUIPMENT	0	0
INVESTMENT IN SUBSIDIARIES	1,675,347	1,627,315
INTERCOMPANY NOTES RECEIVABLE	216,844	228,032
OTHER ASSETS	3,569	3,689
TOTAL ASSETS	1,989,600	1,989,217
CURRENT LIABILITIES
Accounts payable	0	0
Current maturities of long-term debt	0	0
Accrued taxes	0	0
Accrued payroll and benefits	0	0
Accrued interest	5,777	3,047
Accrued customer incentives	0	0
Other current liabilities	0	0
Current liabilities for dispositions and discontinued operations	0	0
Total current liabilities	5,777	3,047
LONG-TERM DEBT	325,000	325,000
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	0	0
PENSION AND OTHER POSTRETIREMENT BENEFITS	0	0
OTHER NON-CURRENT LIABILITIES	0	0
INTERCOMPANY PAYABLE	0	0
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,658,823
Noncontrolling interest	0
TOTAL SHAREHOLDERS’ EQUITY	1,658,823	1,661,170
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,989,600	1,989,217
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| ROC (Subsidiary Guarantor) [Member]
CURRENT ASSETS
Cash and cash equivalents	4,494	304	20,930	3,966
Accounts receivable, less allowance for doubtful accounts	10	10
Inventory	0	0
Deferred tax assets	0	0
Prepaid and other current assets	6,582	2,363
Total current assets	11,086	2,677
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
NET PROPERTY, PLANT AND EQUIPMENT	2,698	2,612
INVESTMENT IN SUBSIDIARIES	1,851,260	1,837,760
INTERCOMPANY NOTES RECEIVABLE	0	0
OTHER ASSETS	32,705	32,519
TOTAL ASSETS	1,897,749	1,875,568
CURRENT LIABILITIES
Accounts payable	1,054	1,522
Current maturities of long-term debt	0	0
Accrued taxes	14	4,855
Accrued payroll and benefits	8,038	11,382
Accrued interest	669	538
Accrued customer incentives	0	0
Other current liabilities	9,058	8,765
Current liabilities for dispositions and discontinued operations	0	0
Total current liabilities	18,833	27,062
LONG-TERM DEBT	0	0
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	0	0
PENSION AND OTHER POSTRETIREMENT BENEFITS	91,807	91,471
OTHER NON-CURRENT LIABILITIES	13,763	11,493
INTERCOMPANY PAYABLE	97,999	118,227
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,675,347
Noncontrolling interest	0
TOTAL SHAREHOLDERS’ EQUITY	1,675,347	1,627,315
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,897,749	1,875,568
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Subsidiary Issuer [Member]
CURRENT ASSETS
Cash and cash equivalents	(178)	10,719	31,749	19,358
Accounts receivable, less allowance for doubtful accounts	689	2,300
Inventory	0	0
Deferred tax assets	646	681
Prepaid and other current assets	3	6
Total current assets	1,160	13,706
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
NET PROPERTY, PLANT AND EQUIPMENT	0	0
INVESTMENT IN SUBSIDIARIES	1,170,755	1,148,221
INTERCOMPANY NOTES RECEIVABLE	20,866	20,659
OTHER ASSETS	3,496	3,739
TOTAL ASSETS	1,196,277	1,186,325
CURRENT LIABILITIES
Accounts payable	2,102	1,564
Current maturities of long-term debt	112,500	112,500
Accrued taxes	0	0
Accrued payroll and benefits	0	0
Accrued interest	3,723	2,742
Accrued customer incentives	0	0
Other current liabilities	0	0
Current liabilities for dispositions and discontinued operations	0	0
Total current liabilities	118,325	116,806
LONG-TERM DEBT	768,228	847,749
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	0	0
PENSION AND OTHER POSTRETIREMENT BENEFITS	0	0
OTHER NON-CURRENT LIABILITIES	0	0
INTERCOMPANY PAYABLE	0	0
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	309,724
Noncontrolling interest	0
TOTAL SHAREHOLDERS’ EQUITY	309,724	221,770
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,196,277	1,186,325
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Non-guarantors [Member]
CURRENT ASSETS
Cash and cash equivalents	57,915	58,440	61,360	4,384
Accounts receivable, less allowance for doubtful accounts	110,998	92,646
Inventory	141,928	138,818
Deferred tax assets	30,934	38,419
Prepaid and other current assets	47,992	44,207
Total current assets	389,767	372,530
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,067,549	2,049,378
NET PROPERTY, PLANT AND EQUIPMENT	859,271	858,209
INVESTMENT IN SUBSIDIARIES	0	0
INTERCOMPANY NOTES RECEIVABLE	0	0
OTHER ASSETS	177,688	216,261
TOTAL ASSETS	3,494,275	3,496,378
CURRENT LIABILITIES
Accounts payable	83,126	66,207
Current maturities of long-term debt	1,819	0
Accrued taxes	11,360	3,696
Accrued payroll and benefits	11,223	13,566
Accrued interest	25,112	22,816
Accrued customer incentives	10,082	9,580
Other current liabilities	26,812	26,109
Current liabilities for dispositions and discontinued operations	6,446	6,835
Total current liabilities	175,980	148,809
LONG-TERM DEBT	300,659	288,975
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	67,456	69,543
PENSION AND OTHER POSTRETIREMENT BENEFITS	3,291	4,183
OTHER NON-CURRENT LIABILITIES	17,491	15,732
INTERCOMPANY PAYABLE	151,938	125,921
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	2,678,640
Noncontrolling interest	98,820
TOTAL SHAREHOLDERS’ EQUITY	2,777,460	2,843,215
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	3,494,275	3,496,378
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Consolidation Adjustments [Member]
CURRENT ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Inventory	0	0
Deferred tax assets	0	0
Prepaid and other current assets	0	0
Total current assets	0	0
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
NET PROPERTY, PLANT AND EQUIPMENT	0	0
INVESTMENT IN SUBSIDIARIES	(4,697,362)	(4,613,296)
INTERCOMPANY NOTES RECEIVABLE	(237,710)	(248,691)
OTHER ASSETS	0	0
TOTAL ASSETS	(4,935,072)	(4,861,987)
CURRENT LIABILITIES
Accounts payable	0	0
Current maturities of long-term debt	0	0
Accrued taxes	0	0
Accrued payroll and benefits	0	0
Accrued interest	(21,424)	(19,612)
Accrued customer incentives	0	0
Other current liabilities	0	0
Current liabilities for dispositions and discontinued operations	0	0
Total current liabilities	(21,424)	(19,612)
LONG-TERM DEBT	0	0
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	0	0
PENSION AND OTHER POSTRETIREMENT BENEFITS	0	0
OTHER NON-CURRENT LIABILITIES	0	0
INTERCOMPANY PAYABLE	(249,937)	(244,148)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	(4,663,711)
Noncontrolling interest	0
TOTAL SHAREHOLDERS’ EQUITY	(4,663,711)	(4,598,227)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	(4,935,072)	(4,861,987)
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| ROC (Subsidiary Guarantor) [Member]
CURRENT ASSETS
Cash and cash equivalents	4,316	11,023	52,679	23,324
Accounts receivable, less allowance for doubtful accounts	699	2,310
Inventory	0	0
Deferred tax assets	646	681
Prepaid and other current assets	6,585	2,369
Total current assets	12,246	16,383
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
NET PROPERTY, PLANT AND EQUIPMENT	2,698	2,612
INVESTMENT IN SUBSIDIARIES	2,712,291	2,764,211
INTERCOMPANY NOTES RECEIVABLE	20,866	20,659
OTHER ASSETS	36,201	36,258
TOTAL ASSETS	2,784,302	2,840,123
CURRENT LIABILITIES
Accounts payable	3,156	3,086
Current maturities of long-term debt	112,500	112,500
Accrued taxes	14	4,855
Accrued payroll and benefits	8,038	11,382
Accrued interest	4,392	3,280
Accrued customer incentives	0	0
Other current liabilities	9,058	8,765
Current liabilities for dispositions and discontinued operations	0	0
Total current liabilities	137,158	143,868
LONG-TERM DEBT	768,228	847,749
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	0	0
PENSION AND OTHER POSTRETIREMENT BENEFITS	91,807	91,471
OTHER NON-CURRENT LIABILITIES	13,763	11,493
INTERCOMPANY PAYABLE	97,999	118,227
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	1,675,347
Noncontrolling interest	0
TOTAL SHAREHOLDERS’ EQUITY	1,675,347	1,627,315
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	2,784,302	2,840,123
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| Non-guarantors [Member]
CURRENT ASSETS
Cash and cash equivalents	57,915	58,440	61,360	4,384
Accounts receivable, less allowance for doubtful accounts	110,998	92,646
Inventory	141,928	138,818
Deferred tax assets	30,934	38,419
Prepaid and other current assets	47,992	44,207
Total current assets	389,767	372,530
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	2,067,549	2,049,378
NET PROPERTY, PLANT AND EQUIPMENT	859,271	858,209
INVESTMENT IN SUBSIDIARIES	0	0
INTERCOMPANY NOTES RECEIVABLE	0	0
OTHER ASSETS	177,688	216,261
TOTAL ASSETS	3,494,275	3,496,378
CURRENT LIABILITIES
Accounts payable	83,126	66,207
Current maturities of long-term debt	1,819	0
Accrued taxes	11,360	3,696
Accrued payroll and benefits	11,223	13,566
Accrued interest	25,112	22,816
Accrued customer incentives	10,082	9,580
Other current liabilities	26,812	26,109
Current liabilities for dispositions and discontinued operations	6,446	6,835
Total current liabilities	175,980	148,809
LONG-TERM DEBT	300,659	288,975
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	67,456	69,543
PENSION AND OTHER POSTRETIREMENT BENEFITS	3,291	4,183
OTHER NON-CURRENT LIABILITIES	17,491	15,732
INTERCOMPANY PAYABLE	151,938	125,921
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	2,678,640
Noncontrolling interest	98,820
TOTAL SHAREHOLDERS’ EQUITY	2,777,460	2,843,215
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	3,494,275	3,496,378
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| Consolidation Adjustments [Member]
CURRENT ASSETS
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable, less allowance for doubtful accounts	0	0
Inventory	0	0
Deferred tax assets	0	0
Prepaid and other current assets	0	0
Total current assets	0	0
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION	0	0
NET PROPERTY, PLANT AND EQUIPMENT	0	0
INVESTMENT IN SUBSIDIARIES	(4,387,638)	(4,391,526)
INTERCOMPANY NOTES RECEIVABLE	(237,710)	(248,691)
OTHER ASSETS	0	0
TOTAL ASSETS	(4,625,348)	(4,640,217)
CURRENT LIABILITIES
Accounts payable	0	0
Current maturities of long-term debt	0	0
Accrued taxes	0	0
Accrued payroll and benefits	0	0
Accrued interest	(21,424)	(19,612)
Accrued customer incentives	0	0
Other current liabilities	0	0
Current liabilities for dispositions and discontinued operations	0	0
Total current liabilities	(21,424)	(19,612)
LONG-TERM DEBT	0	0
NON-CURRENT LIABILITIES FOR DISPOSITIONS AND DISCONTINUED OPERATIONS	0	0
PENSION AND OTHER POSTRETIREMENT BENEFITS	0	0
OTHER NON-CURRENT LIABILITIES	0	0
INTERCOMPANY PAYABLE	(249,937)	(244,148)
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY	(4,353,987)
Noncontrolling interest	0
TOTAL SHAREHOLDERS’ EQUITY	(4,353,987)	(4,376,457)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ (4,625,348)	$ (4,640,217)

CONSOLIDATING FINANCIAL STATEMENTS Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	$ 99,274	$ 89,660
INVESTING ACTIVITIES
Capital expenditures	(36,755)	(32,664)
Purchase of timberlands	(10,637)	(1,560)
Jesup mill cellulose specialties expansion	0	(36,734)
Proceeds from the disposition of Wood Products business	0	83,741
Change in restricted cash	45,312	9,908
Investment in Subsidiaries	0	0
Other	1,592	1,790
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(488)	24,481
FINANCING ACTIVITIES
Issuance of debt	31,819	100,000
Repayment of debt	(110,000)	(170,000)
Dividends paid	(62,545)	(57,744)
Proceeds from the issuance of common shares	2,027	4,091
Excess tax (deficiencies) benefits on stock-based compensation	(1,240)	6,191
Repurchase of common shares	(1,754)	(11,241)
Intercompany distributions	0	0
Other	(679)	0
CASH USED FOR FINANCING ACTIVITIES	(142,372)	(128,703)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	13	(17)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(43,573)	(14,579)
Balance, beginning of year	199,644	280,596
Balance, end of period	156,071	266,017
Rayonier Inc. (Parent Guarantor) [Member]
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	25,931	13,984
INVESTING ACTIVITIES
Capital expenditures	0	0
Purchase of timberlands	0	0
Jesup mill cellulose specialties expansion		0
Proceeds from the disposition of Wood Products business		0
Change in restricted cash	0	0
Investment in Subsidiaries	0	0
Other	0	0
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	0	0
FINANCING ACTIVITIES
Issuance of debt	0	100,000
Repayment of debt	0	(150,000)
Dividends paid	(62,545)	(57,744)
Proceeds from the issuance of common shares	2,027	4,091
Excess tax (deficiencies) benefits on stock-based compensation	0	0
Repurchase of common shares	(1,754)	(11,241)
Intercompany distributions	0	0
Other	0
CASH USED FOR FINANCING ACTIVITIES	(62,272)	(114,894)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	0	0
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(36,341)	(100,910)
Balance, beginning of year	130,181	252,888
Balance, end of period	93,840	151,978
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| ROC (Subsidiary Guarantor) [Member]
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	32,794	22,259
INVESTING ACTIVITIES
Capital expenditures	(170)	(89)
Purchase of timberlands	0	0
Jesup mill cellulose specialties expansion		0
Proceeds from the disposition of Wood Products business		0
Change in restricted cash	0	0
Investment in Subsidiaries	0	0
Other	0	0
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(170)	(89)
FINANCING ACTIVITIES
Issuance of debt	0	0
Repayment of debt	0	0
Dividends paid	0	0
Proceeds from the issuance of common shares	0	0
Excess tax (deficiencies) benefits on stock-based compensation	0	0
Repurchase of common shares	0	0
Intercompany distributions	(28,434)	(5,206)
Other	0
CASH USED FOR FINANCING ACTIVITIES	(28,434)	(5,206)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	0	0
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	4,190	16,964
Balance, beginning of year	304	3,966
Balance, end of period	4,494	20,930
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Subsidiary Issuer [Member]
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	0	0
INVESTING ACTIVITIES
Capital expenditures	0	0
Purchase of timberlands	0	0
Jesup mill cellulose specialties expansion		0
Proceeds from the disposition of Wood Products business		0
Change in restricted cash	0	0
Investment in Subsidiaries	69,103	32,391
Other	0	0
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	69,103	32,391
FINANCING ACTIVITIES
Issuance of debt	30,000	0
Repayment of debt	(110,000)	(20,000)
Dividends paid	0	0
Proceeds from the issuance of common shares	0	0
Excess tax (deficiencies) benefits on stock-based compensation	0	0
Repurchase of common shares	0	0
Intercompany distributions	0	0
Other	0
CASH USED FOR FINANCING ACTIVITIES	(80,000)	(20,000)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	0	0
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(10,897)	12,391
Balance, beginning of year	10,719	19,358
Balance, end of period	(178)	31,749
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Non-guarantors [Member]
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	67,759	58,980
INVESTING ACTIVITIES
Capital expenditures	(36,585)	(32,575)
Purchase of timberlands	(10,637)	(1,560)
Jesup mill cellulose specialties expansion		(36,734)
Proceeds from the disposition of Wood Products business		83,741
Change in restricted cash	45,312	9,908
Investment in Subsidiaries	0	0
Other	1,592	1,790
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(318)	24,570
FINANCING ACTIVITIES
Issuance of debt	1,819	0
Repayment of debt	0	0
Dividends paid	0	0
Proceeds from the issuance of common shares	0	0
Excess tax (deficiencies) benefits on stock-based compensation	(1,240)	6,191
Repurchase of common shares	0	0
Intercompany distributions	(67,879)	(32,748)
Other	(679)
CASH USED FOR FINANCING ACTIVITIES	(67,979)	(26,557)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	13	(17)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(525)	56,976
Balance, beginning of year	58,440	4,384
Balance, end of period	57,915	61,360
Senior Exchangeable Notes due 2015 at a fixed interest rate of 4.50% [Member] \| Consolidation Adjustments [Member]
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	(27,210)	(5,563)
INVESTING ACTIVITIES
Capital expenditures	0	0
Purchase of timberlands	0	0
Jesup mill cellulose specialties expansion		0
Proceeds from the disposition of Wood Products business		0
Change in restricted cash	0	0
Investment in Subsidiaries	(69,103)	(32,391)
Other	0	0
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(69,103)	(32,391)
FINANCING ACTIVITIES
Issuance of debt	0	0
Repayment of debt	0	0
Dividends paid	0	0
Proceeds from the issuance of common shares	0	0
Excess tax (deficiencies) benefits on stock-based compensation	0	0
Repurchase of common shares	0	0
Intercompany distributions	96,313	37,954
Other	0
CASH USED FOR FINANCING ACTIVITIES	96,313	37,954
EFFECT OF EXCHANGE RATE CHANGES ON CASH	0	0
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	0	0
Balance, beginning of year	0	0
Balance, end of period	0	0
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| ROC (Subsidiary Guarantor) [Member]
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	32,794	22,259
INVESTING ACTIVITIES
Capital expenditures	(170)	(89)
Purchase of timberlands	0	0
Jesup mill cellulose specialties expansion		0
Proceeds from the disposition of Wood Products business		0
Change in restricted cash	0	0
Investment in Subsidiaries	69,103	32,391
Other	0	0
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	68,933	32,302
FINANCING ACTIVITIES
Issuance of debt	30,000	0
Repayment of debt	(110,000)	(20,000)
Dividends paid	0	0
Proceeds from the issuance of common shares	0	0
Excess tax (deficiencies) benefits on stock-based compensation	0	0
Repurchase of common shares	0	0
Intercompany distributions	(28,434)	(5,206)
Other	0
CASH USED FOR FINANCING ACTIVITIES	(108,434)	(25,206)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	0	0
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(6,707)	29,355
Balance, beginning of year	11,023	23,324
Balance, end of period	4,316	52,679
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| Non-guarantors [Member]
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	67,759	58,980
INVESTING ACTIVITIES
Capital expenditures	(36,585)	(32,575)
Purchase of timberlands	(10,637)	(1,560)
Jesup mill cellulose specialties expansion		(36,734)
Proceeds from the disposition of Wood Products business		83,741
Change in restricted cash	45,312	9,908
Investment in Subsidiaries	0	0
Other	1,592	1,790
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(318)	24,570
FINANCING ACTIVITIES
Issuance of debt	1,819	0
Repayment of debt	0	0
Dividends paid	0	0
Proceeds from the issuance of common shares	0	0
Excess tax (deficiencies) benefits on stock-based compensation	(1,240)	6,191
Repurchase of common shares	0	0
Intercompany distributions	(67,879)	(32,748)
Other	(679)
CASH USED FOR FINANCING ACTIVITIES	(67,979)	(26,557)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	13	(17)
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	(525)	56,976
Balance, beginning of year	58,440	4,384
Balance, end of period	57,915	61,360
Senior Notes due 2022 at a fixed interest rate of 3.75% [Member] \| Consolidation Adjustments [Member]
Statement of Cash Flows [Abstract]
CASH PROVIDED BY OPERATING ACTIVITIES	(27,210)	(5,563)
INVESTING ACTIVITIES
Capital expenditures	0	0
Purchase of timberlands	0	0
Jesup mill cellulose specialties expansion		0
Proceeds from the disposition of Wood Products business		0
Change in restricted cash	0	0
Investment in Subsidiaries	(69,103)	(32,391)
Other	0	0
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(69,103)	(32,391)
FINANCING ACTIVITIES
Issuance of debt	0	0
Repayment of debt	0	0
Dividends paid	0	0
Proceeds from the issuance of common shares	0	0
Excess tax (deficiencies) benefits on stock-based compensation	0	0
Repurchase of common shares	0	0
Intercompany distributions	96,313	37,954
Other	0
CASH USED FOR FINANCING ACTIVITIES	96,313	37,954
EFFECT OF EXCHANGE RATE CHANGES ON CASH	0	0
CASH AND CASH EQUIVALENTS
Change in cash and cash equivalents	0	0
Balance, beginning of year	0	0
Balance, end of period	$ 0	$ 0