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Consolidating Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule of Condensed Consolidating of Income Statement |
| CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Year Ended December 31, 2016
| Rayonier Inc.(Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
SALES | — |  |  | — |  |  |  | $788,278 |  |  | — |  |  |  | $788,278 |
Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 524,707 |  |  | — |  |  | 524,707 |
Selling and general expenses | — |  |  | 15,253 |  |  | 27,532 |  |  | — |  |  | 42,785 |
Other operating income, net | — |  |  | 448 |  |  | (35,439 | ) |  | — |  |  | (34,991 | )
| — |  |  | 15,701 |  |  | 516,800 |  |  | — |  |  | 532,501 |
OPERATING (LOSS) INCOME | — |  |  | (15,701 | ) |  | 271,478 |  |  | — |  |  | 255,777 |
Interest expense | (12,555 | ) |  | (16,775 | ) |  | (2,915 | ) |  | — |  |  | (32,245 | )
Interest and miscellaneous income (expense), net | 8,613 |  |  | 2,750 |  |  | (12,061 | ) |  | — |  |  | (698 | )
Equity in income from subsidiaries | 215,914 |  |  | 246,193 |  |  | — |  |  | (462,107 | ) |  | — |
INCOME BEFORE INCOME TAXES | 211,972 |  |  | 216,467 |  |  | 256,502 |  |  | (462,107 | ) |  | 222,834 |
Income tax benefit (expense) | — |  |  | (553 | ) |  | (4,511 | ) |  | — |  |  | (5,064 | )
NET INCOME | 211,972 |  |  | 215,914 |  |  | 251,991 |  |  | (462,107 | ) |  | 217,770 |
Less: Net income attributable to noncontrolling interest | — |  |  | — |  |  | 5,798 |  |  | — |  |  | 5,798 |
NET INCOME ATTRIBUTABLE TO RAYONIER INC. | 211,972 |  |  | 215,914 |  |  | 246,193 |  |  | (462,107 | ) |  | 211,972 |
OTHER COMPREHENSIVE INCOME |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment | 2,780 |  |  | (4,606 | ) |  | 10,930 |  |  | (2,782 | ) |  | 6,322 |
New Zealand joint venture cash flow hedges | 22,607 |  |  | 21,422 |  |  | 1,401 |  |  | (22,608 | ) |  | 22,822 |
Actuarial change and amortization of pension and postretirement plan liabilities | 5,533 |  |  | 5,533 |  |  | — |  |  | (5,533 | ) |  | 5,533 |
Total other comprehensive income | 30,920 |  |  | 22,349 |  |  | 12,331 |  |  | (30,923 | ) |  | 34,677 |
COMPREHENSIVE INCOME | 242,892 |  |  | 238,263 |  |  | 264,322 |  |  | (493,030 | ) |  | 252,447 |
Less: Comprehensive income attributable to noncontrolling interest | — |  |  | — |  |  | 9,555 |  |  | — |  |  | 9,555 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. |  | $242,892 |  |  |  | $238,263 |  |  |  | $254,767 |  |  |  | ($493,030 | ) |  |  | $242,892 |
| CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Year Ended December 31, 2015
| Rayonier Inc.(Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
SALES | — |  |  | — |  |  |  | $544,874 |  |  | — |  |  |  | $544,874 |
Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 441,099 |  |  | — |  |  | 441,099 |
Selling and general expenses | — |  |  | 20,468 |  |  | 25,282 |  |  | — |  |  | 45,750 |
Other operating expense (income), net | — |  |  | (404 | ) |  | (19,355 | ) |  | — |  |  | (19,759 | )
| — |  |  | 20,064 |  |  | 447,026 |  |  | — |  |  | 467,090 |
OPERATING (LOSS) INCOME | — |  |  | (20,064 | ) |  | 97,848 |  |  | — |  |  | 77,784 |
Interest expense | (12,703 | ) |  | (9,135 | ) |  | (9,861 | ) |  | — |  |  | (31,699 | )
Interest and miscellaneous income (expense), net | 7,789 |  |  | 2,612 |  |  | (13,404 | ) |  | — |  |  | (3,003 | )
Equity in income from subsidiaries | 51,079 |  |  | 75,532 |  |  | — |  |  | (126,611 | ) |  | — |
INCOME BEFORE INCOME TAXES | 46,165 |  |  | 48,945 |  |  | 74,583 |  |  | (126,611 | ) |  | 43,082 |
Income tax benefit (expense) | — |  |  | 2,134 |  |  | (1,275 | ) |  | — |  |  | 859 |
NET INCOME | 46,165 |  |  | 51,079 |  |  | 73,308 |  |  | (126,611 | ) |  | 43,941 |
Less: Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (2,224 | ) |  | — |  |  | (2,224 | )
NET INCOME ATTRIBUTABLE TO RAYONIER INC. | 46,165 |  |  | 51,079 |  |  | 75,532 |  |  | (126,611 | ) |  | 46,165 |
OTHER COMPREHENSIVE (LOSS) INCOME |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment | (21,567 | ) |  | 7,922 |  |  | (40,373 | ) |  | 21,567 |  |  | (32,451 | )
New Zealand joint venture cash flow hedges | (10,042 | ) |  | (10,195 | ) |  | 234 |  |  | 10,042 |  |  | (9,961 | )
Actuarial change and amortization of pension and postretirement plan liabilities | 2,933 |  |  | 2,933 |  |  | — |  |  | (2,933 | ) |  | 2,933 |
Total other comprehensive (loss) income | (28,676 | ) |  | 660 |  |  | (40,139 | ) |  | 28,676 |  |  | (39,479 | )
COMPREHENSIVE INCOME | 17,489 |  |  | 51,739 |  |  | 33,169 |  |  | (97,935 | ) |  | 4,462 |
Less: Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | (13,027 | ) |  | — |  |  | (13,027 | )
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. |  | $17,489 |  |  |  | $51,739 |  |  |  | $46,196 |  |  |  | ($97,935 | ) |  |  | $17,489 |
| CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Year Ended December 31, 2014
| Rayonier Inc.(Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
SALES | — |  |  | — |  |  |  | $603,521 |  |  | — |  |  |  | $603,521 |
Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 483,860 |  |  | — |  |  | 483,860 |
Selling and general expenses | — |  |  | 14,578 |  |  | 33,305 |  |  | — |  |  | 47,883 |
Other operating (income) expense, net | — |  |  | 3,275 |  |  | (29,786 | ) |  | — |  |  | (26,511 | )
| — |  |  | 17,853 |  |  | 487,379 |  |  | — |  |  | 505,232 |
OPERATING INCOME (LOSS) | — |  |  | (17,853 | ) |  | 116,142 |  |  | — |  |  | 98,289 |
Interest expense | (13,247 | ) |  | (23,571 | ) |  | (7,430 | ) |  | — |  |  | (44,248 | )
Interest and miscellaneous income (expense), net | 9,186 |  |  | (3,100 | ) |  | (15,285 | ) |  | — |  |  | (9,199 | )
Equity in income from subsidiaries | 103,398 |  |  | 138,719 |  |  | — |  |  | (242,117 | ) |  | — |
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 99,337 |  |  | 94,195 |  |  | 93,427 |  |  | (242,117 | ) |  | 44,842 |
Income tax benefit | — |  |  | 9,203 |  |  | 398 |  |  | — |  |  | 9,601 |
INCOME FROM CONTINUING OPERATIONS | 99,337 |  |  | 103,398 |  |  | 93,825 |  |  | (242,117 | ) |  | 54,443 |
DISCONTINUED OPERATIONS, NET |  |  |  |  |  |  |  |  |
Income from discontinued operations, net of income tax | — |  |  | — |  |  | 43,403 |  |  | — |  |  | 43,403 |
NET INCOME | 99,337 |  |  | 103,398 |  |  | 137,228 |  |  | (242,117 | ) |  | 97,846 |
Less: Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (1,491 | ) |  | — |  |  | (1,491 | )
NET INCOME ATTRIBUTABLE TO RAYONIER INC. | 99,337 |  |  | 103,398 |  |  | 138,719 |  |  | (242,117 | ) |  | 99,337 |
OTHER COMPREHENSIVE INCOME |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment | (11,525 | ) |  | (11,527 | ) |  | (15,847 | ) |  | 23,052 |  |  | (15,847 | )
New Zealand joint venture cash flow hedges | (1,206 | ) |  | (1,206 | ) |  | (1,855 | ) |  | 2,412 |  |  | (1,855 | )
Actuarial change and amortization of pension and postretirement plan liabilities | 54,046 |  |  | 54,046 |  |  | 88,174 |  |  | (142,220 | ) |  | 54,046 |
Total other comprehensive income | 41,315 |  |  | 41,313 |  |  | 70,472 |  |  | (116,756 | ) |  | 36,344 |
COMPREHENSIVE INCOME | 140,652 |  |  | 144,711 |  |  | 207,700 |  |  | (358,873 | ) |  | 134,190 |
Less: Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | (6,462 | ) |  | — |  |  | (6,462 | )
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. |  | $140,652 |  |  |  | $144,711 |  |  |  | $214,162 |  |  |  | ($358,873 | ) |  |  | $140,652 |
Schedule of Condensed Consolidating Balance Sheet |
| CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2016
| Rayonier Inc.(Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
ASSETS |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $21,453 |  |  |  | $9,461 |  |  |  | $54,995 |  |  | — |  |  |  | $85,909 |
Accounts receivable, less allowance for doubtful accounts | — |  |  | 2,991 |  |  | 17,673 |  |  | — |  |  | 20,664 |
Inventory | — |  |  | — |  |  | 21,379 |  |  | — |  |  | 21,379 |
Prepaid logging roads | — |  |  | — |  |  | 10,228 |  |  | — |  |  | 10,228 |
Prepaid expenses | — |  |  | 427 |  |  | 1,152 |  |  | — |  |  | 1,579 |
Assets held for sale | — |  |  | — |  |  | 23,171 |  |  | — |  |  | 23,171 |
Other current assets | — |  |  | 236 |  |  | 1,638 |  |  | — |  |  | 1,874 |
Total current assets | 21,453 |  |  | 13,115 |  |  | 130,236 |  |  | — |  |  | 164,804 |
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION | — |  |  | — |  |  | 2,291,015 |  |  | — |  |  | 2,291,015 |
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT COSTS | — |  |  | — |  |  | 70,374 |  |  | — |  |  | 70,374 |
NET PROPERTY, PLANT AND EQUIPMENT | — |  |  | 177 |  |  | 13,857 |  |  | — |  |  | 14,034 |
RESTRICTED DEPOSITS | — |  |  | — |  |  | 71,708 |  |  | — |  |  | 71,708 |
INVESTMENT IN SUBSIDIARIES | 1,422,081 |  |  | 2,671,428 |  |  | — |  |  | (4,093,509 | ) |  | — |
INTERCOMPANY RECEIVABLE | 26,472 |  |  | (611,571 | ) |  | 585,099 |  |  | — |  |  | — |
OTHER ASSETS | 2 |  |  | 46,846 |  |  | 26,977 |  |  | — |  |  | 73,825 |
TOTAL ASSETS |  | $1,470,008 |  |  |  | $2,119,995 |  |  |  | $3,189,266 |  |  |  | ($4,093,509 | ) |  |  | $2,685,760 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |
Accounts payable | — |  |  |  | $1,194 |  |  |  | $21,143 |  |  | — |  |  |  | $22,337 |
Current maturities of long-term debt | 31,676 |  |  | — |  |  | — |  |  | — |  |  | 31,676 |
Accrued taxes | — |  |  | (111 | ) |  | 2,768 |  |  | — |  |  | 2,657 |
Accrued payroll and benefits | — |  |  | 5,013 |  |  | 4,264 |  |  | — |  |  | 9,277 |
Accrued interest | 3,047 |  |  | 2,040 |  |  | 253 |  |  | — |  |  | 5,340 |
Other current liabilities | — |  |  | 165 |  |  | 20,514 |  |  | — |  |  | 20,679 |
Total current liabilities | 34,723 |  |  | 8,301 |  |  | 48,942 |  |  | — |  |  | 91,966 |
LONG-TERM DEBT | 291,390 |  |  | 663,343 |  |  | 75,472 |  |  | — |  |  | 1,030,205 |
PENSION AND OTHER POSTRETIREMENT BENEFITS | — |  |  | 32,541 |  |  | (685 | ) |  | — |  |  | 31,856 |
OTHER NON-CURRENT LIABILITIES | — |  |  | 12,690 |  |  | 22,291 |  |  | — |  |  | 34,981 |
INTERCOMPANY PAYABLE | (267,715 | ) |  | (18,961 | ) |  | 286,676 |  |  | — |  |  | — |
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY | 1,411,610 |  |  | 1,422,081 |  |  | 2,671,428 |  |  | (4,093,509 | ) |  | 1,411,610 |
Noncontrolling interest | — |  |  | — |  |  | 85,142 |  |  | — |  |  | 85,142 |
TOTAL SHAREHOLDERS’ EQUITY | 1,411,610 |  |  | 1,422,081 |  |  | 2,756,570 |  |  | (4,093,509 | ) |  | 1,496,752 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $1,470,008 |  |  |  | $2,119,995 |  |  |  | $3,189,266 |  |  |  | ($4,093,509 | ) |  |  | $2,685,760 |
| CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2015
| Rayonier Inc.(Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
ASSETS |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $2,472 |  |  |  | $13,217 |  |  |  | $36,088 |  |  | — |  |  |  | $51,777 |
Accounts receivable, less allowance for doubtful accounts | — |  |  | 1,870 |  |  | 18,352 |  |  | — |  |  | 20,222 |
Inventory | — |  |  | — |  |  | 15,351 |  |  | — |  |  | 15,351 |
Prepaid logging roads | — |  |  | — |  |  | 10,563 |  |  | — |  |  | 10,563 |
Prepaid expenses | — |  |  | 443 |  |  | 1,648 |  |  | — |  |  | 2,091 |
Other current assets | — |  |  | 4,876 |  |  | 805 |  |  | — |  |  | 5,681 |
Total current assets | 2,472 |  |  | 20,406 |  |  | 82,807 |  |  | — |  |  | 105,685 |
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION | — |  |  | — |  |  | 2,066,780 |  |  | — |  |  | 2,066,780 |
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT COSTS | — |  |  | — |  |  | 65,450 |  |  | — |  |  | 65,450 |
NET PROPERTY, PLANT AND EQUIPMENT | — |  |  | 330 |  |  | 6,412 |  |  | — |  |  | 6,742 |
RESTRICTED DEPOSITS | — |  |  | — |  |  | 23,525 |  |  | — |  |  | 23,525 |
INVESTMENT IN SUBSIDIARIES | 1,321,681 |  |  | 2,212,405 |  |  | — |  |  | (3,534,086 | ) |  | — |
INTERCOMPANY RECEIVABLES | 34,567 |  |  | (610,450 | ) |  | 575,883 |  |  | — |  |  | — |
OTHER ASSETS | 3 |  |  | 18,718 |  |  | 29,036 |  |  | (1 | ) |  | 47,756 |
TOTAL ASSETS |  | $1,358,723 |  |  |  | $1,641,409 |  |  |  | $2,849,892 |  |  |  | ($3,534,086 | ) |  |  | $2,315,938 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |
Accounts payable | 609 |  |  |  | $1,463 |  |  |  | $19,407 |  |  | — |  |  |  | $21,479 |
Current maturities of long-term debt | — |  |  | — |  |  | — |  |  | — |  |  | — |
Accrued taxes | — |  |  | (10 | ) |  | 3,695 |  |  | — |  |  | 3,685 |
Accrued payroll and benefits | — |  |  | 3,594 |  |  | 3,443 |  |  | — |  |  | 7,037 |
Accrued interest | 3,047 |  |  | 666 |  |  | 2,440 |  |  | — |  |  | 6,153 |
Other current liabilities | — |  |  | 262 |  |  | 20,841 |  |  | — |  |  | 21,103 |
Total current liabilities | 3,656 |  |  | 5,975 |  |  | 49,826 |  |  | — |  |  | 59,457 |
LONG-TERM DEBT | 322,697 |  |  | 280,977 |  |  | 226,879 |  |  | 1 |  |  | 830,554 |
PENSION AND OTHER POSTRETIREMENT BENEFITS | — |  |  | 34,822 |  |  | (685 | ) |  | — |  |  | 34,137 |
OTHER NON-CURRENT LIABILITIES | — |  |  | 16,914 |  |  | 13,136 |  |  | — |  |  | 30,050 |
INTERCOMPANY PAYABLE | (255,715 | ) |  | (18,960 | ) |  | 274,675 |  |  | — |  |  | — |
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY | 1,288,084 |  |  | 1,321,681 |  |  | 2,212,405 |  |  | (3,534,086 | ) |  | 1,288,084 |
Noncontrolling interest | — |  |  | — |  |  | 73,656 |  |  | — |  |  | 73,656 |
TOTAL SHAREHOLDERS’ EQUITY | 1,288,084 |  |  | 1,321,681 |  |  | 2,286,061 |  |  | (3,534,086 | ) |  | 1,361,740 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $1,358,723 |  |  |  | $1,641,409 |  |  |  | $2,849,892 |  |  |  | ($3,534,086 | ) |  |  | $2,315,938 |
Schedule of Condensed Consolidating Cash Flows Statement |
| CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2016
| Rayonier Inc.(Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES |  | ($7,480 | ) |  |  | $113,775 |  |  |  | $97,506 |  |  | — |  |  |  | $203,801 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | — |  |  | (58,723 | ) |  | — |  |  | (58,723 | )
Real estate development investments | — |  |  | — |  |  | (8,746 | ) |  | — |  |  | (8,746 | )
Purchase of timberlands | — |  |  | — |  |  | (366,481 | ) |  | — |  |  | (366,481 | )
Assets purchased in business acquisition | — |  |  | — |  |  | (887 | ) |  | — |  |  | (887 | )
Net proceeds from Large Dispositions | — |  |  | — |  |  | 203,862 |  |  | — |  |  | 203,862 |
Rayonier office building under construction | — |  |  | — |  |  | (6,307 | ) |  | — |  |  | (6,307 | )
Change in restricted cash | — |  |  | — |  |  | (48,184 | ) |  | — |  |  | (48,184 | )
Investment in subsidiaries | — |  |  | (293,820 | ) |  | — |  |  | 293,820 |  |  | — |
Other | — |  |  | — |  |  | 2,311 |  |  | — |  |  | 2,311 |
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES | — |  |  | (293,820 | ) |  | (283,155 | ) |  | 293,820 |  |  | (283,155 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Issuance of debt | — |  |  | 548,000 |  |  | 147,916 |  |  | — |  |  | 695,916 |
Repayment of debt | — |  |  | (140,000 | ) |  | (318,415 | ) |  | — |  |  | (458,415 | )
Dividends paid | (122,845 | ) |  | — |  |  | — |  |  | — |  |  | (122,845 | )
Proceeds from the issuance of common shares | 1,576 |  |  | — |  |  | — |  |  | — |  |  | 1,576 |
Proceeds from repurchase of common shares | (690 | ) |  | — |  |  | — |  |  | — |  |  | (690 | )
Debt issuance costs | — |  |  | (818 | ) |  | — |  |  | — |  |  | (818 | )
Issuance of intercompany notes | (12,000 | ) |  | — |  |  | 12,000 |  |  | — |  |  | — |
Intercompany distributions | 160,597 |  |  | (230,893 | ) |  | 364,116 |  |  | (293,820 | ) |  | — |
Other | (177 | ) |  | — |  |  | (124 | ) |  | — |  |  | (301 | )
CASH USED FOR FINANCING ACTIVITIES | 26,461 |  |  | 176,289 |  |  | 205,493 |  |  | (293,820 | ) |  | 114,423 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (937 | ) |  | — |  |  | (937 | )
CASH AND CASH EQUIVALENTS |  |  |  |  |  |  |  |  |
Change in cash and cash equivalents | 18,981 |  |  | (3,756 | ) |  | 18,907 |  |  | — |  |  | 34,132 |
Balance, beginning of year | 2,472 |  |  | 13,217 |  |  | 36,088 |  |  | — |  |  | 51,777 |
Balance, end of year |  | $21,453 |  |  |  | $9,461 |  |  |  | $54,995 |  |  | — |  |  |  | $85,909 |
| CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2015
| Rayonier Inc.(Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES |  | ($4,890 | ) |  |  | ($21,421 | ) |  |  | $203,475 |  |  | — |  |  |  | $177,164 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (78 | ) |  | (57,215 | ) |  | — |  |  | (57,293 | )
Real estate development investments | — |  |  | — |  |  | (2,676 | ) |  | — |  |  | (2,676 | )
Purchase of timberlands | — |  |  | — |  |  | (98,409 | ) |  | — |  |  | (98,409 | )
Proceeds from settlement of foreign currency derivative | — |  |  | — |  |  | 2,804 |  |  | — |  |  | 2,804 |
Rayonier office building under construction | — |  |  | — |  |  | (908 | ) |  | — |  |  | (908 | )
Change in restricted cash | — |  |  | — |  |  | (16,836 | ) |  | — |  |  | (16,836 | )
Investment in subsidiaries | — |  |  | 126,242 |  |  | — |  |  | (126,242 | ) |  | — |
Other | — |  |  | — |  |  | 7,010 |  |  | (1 | ) |  | 7,009 |
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES | — |  |  | 126,164 |  |  | (166,230 | ) |  | (126,243 | ) |  | (166,309 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Issuance of debt | 61,000 |  |  | 353,000 |  |  | 58,558 |  |  | — |  |  | 472,558 |
Repayment of debt | (61,000 | ) |  | (232,973 | ) |  | (70,429 | ) |  | — |  |  | (364,402 | )
Dividends paid | (124,936 | ) |  | — |  |  | — |  |  | — |  |  | (124,936 | )
Proceeds from the issuance of common shares | 2,117 |  |  | — |  |  | — |  |  | — |  |  | 2,117 |
Proceeds from repurchase of common shares | (100,000 | ) |  | — |  |  | — |  |  | — |  |  | (100,000 | )
Debt issuance costs | — |  |  | (1,678 | ) |  | — |  |  | — |  |  | (1,678 | )
Issuance of intercompany notes | (35,500 | ) |  | — |  |  | 35,500 |  |  | — |  |  | — |
Intercompany distributions | 163,585 |  |  | (217,980 | ) |  | (71,847 | ) |  | 126,242 |  |  | — |
Other | (122 | ) |  | — |  |  | — |  |  | — |  |  | (122 | )
CASH USED FOR FINANCING ACTIVITIES | (94,856 | ) |  | (99,631 | ) |  | (48,218 | ) |  | 126,242 |  |  | (116,463 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (4,173 | ) |  | — |  |  | (4,173 | )
CASH AND CASH EQUIVALENTS |  |  |  |  |  |  |  |  |
Change in cash and cash equivalents | (99,746 | ) |  | 5,112 |  |  | (15,147 | ) |  | — |  |  | (109,781 | )
Balance, beginning of year | 102,218 |  |  | 8,105 |  |  | 51,235 |  |  | — |  |  | 161,558 |
Balance, end of year |  | $2,472 |  |  |  | $13,217 |  |  |  | $36,088 |  |  | — |  |  |  | $51,777 |
| CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014
| Rayonier Inc.(Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
CASH PROVIDED BY OPERATING ACTIVITIES |  | $269,653 |  |  |  | $293,193 |  |  |  | $47,727 |  |  |  | ($290,157 | ) |  |  | $320,416 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (400 | ) |  | (63,313 | ) |  | — |  |  | (63,713 | )
Capital expenditures from discontinued operations | — |  |  | — |  |  | (60,955 | ) |  | — |  |  | (60,955 | )
Real estate development investments | — |  |  | — |  |  | (3,674 | ) |  | — |  |  | (3,674 | )
Purchase of timberlands | — |  |  | — |  |  | (130,896 | ) |  | — |  |  | (130,896 | )
Change in restricted cash | — |  |  | — |  |  | 62,256 |  |  | — |  |  | 62,256 |
Investment in subsidiaries | — |  |  | 798,875 |  |  | — |  |  | (798,875 | ) |  | — |
Other | — |  |  | — |  |  | 306 |  |  | — |  |  | 306 |
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES | — |  |  | 798,475 |  |  | (196,276 | ) |  | (798,875 | ) |  | (196,676 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Issuance of debt | — |  |  | 201,000 |  |  | 1,225,464 |  |  | — |  |  | 1,426,464 |
Repayment of debt | — |  |  | (1,002,500 | ) |  | (287,137 | ) |  | — |  |  | (1,289,637 | )
Dividends paid | (257,517 | ) |  | — |  |  | — |  |  | — |  |  | (257,517 | )
Proceeds from the issuance of common shares | 5,579 |  |  | — |  |  | — |  |  | — |  |  | 5,579 |
Proceeds from repurchase of common shares | (1,858 | ) |  | — |  |  | — |  |  | — |  |  | (1,858 | )
Debt issuance costs | — |  |  | — |  |  | (12,380 | ) |  | — |  |  | (12,380 | )
Net cash disbursed upon spin-off of Performance Fibers business | (31,420 | ) |  | — |  |  | — |  |  | — |  |  | (31,420 | )
Issuance of intercompany notes | (12,400 | ) |  | — |  |  | 12,400 |  |  | — |  |  | — |
Intercompany distributions | — |  |  | (293,086 | ) |  | (795,946 | ) |  | 1,089,032 |  |  | — |
Other | — |  |  | — |  |  | (680 | ) |  | — |  |  | (680 | )
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES | (297,616 | ) |  | (1,094,586 | ) |  | 141,721 |  |  | 1,089,032 |  |  | (161,449 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (377 | ) |  | — |  |  | (377 | )
CASH AND CASH EQUIVALENTS |  |  |  |  |  |  |  |  |
Change in cash and cash equivalents | (27,963 | ) |  | (2,918 | ) |  | (7,205 | ) |  | — |  |  | (38,086 | )
Balance, beginning of year | 130,181 |  |  | 11,023 |  |  | 58,440 |  |  | — |  |  | 199,644 |
Balance, end of year |  | $102,218 |  |  |  | $8,105 |  |  |  | $51,235 |  |  | — |  |  |  | $161,558 |

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