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Incentive Stock Plans (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs | A summary of the Company’s stock-based compensation cost is presented below:
| 2017 |  | 2016 |  | 2015
Selling and general expenses |  | $4,784 |  |  |  | $4,607 |  |  |  | $3,752 |
Cost of sales | 556 |  |  | 487 |  |  | 635 |
Timber and Timberlands, net (a) | 56 |  |  | 42 |  |  | 97 |
Total stock-based compensation |  | $5,396 |  |  |  | $5,136 |  |  |  | $4,484 |
Tax benefit recognized related to stock-based compensation expense (b) |  | $249 |  |  |  | $483 |  |  |  | $302 |
(a) | Represents amounts capitalized as part of the overhead allocation of timber-related costs.
(b) | A valuation allowance is recorded against the tax benefit recognized as the Company does not expect to be able to realize the benefit in the future.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | A summary of the Company’s restricted shares is presented below:
| 2017 |  | 2016 |  | 2015
Restricted shares granted | 97,643 |  |  | 106,326 |  |  | 96,088 |
Weighted average price of restricted shares granted |  | $28.18 |  |  |  | $25.08 |  |  |  | $26.28 |
Intrinsic value of restricted stock outstanding (a) | 8,906 |  |  | 6,177 |  |  | 4,434 |
Grant date fair value of restricted stock vested | 1,198 |  |  | 2,248 |  |  | 2,632 |
Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on restricted shares vested |  | $176 |  |  |  | $178 |  |  |  | $122 |
(a) | Intrinsic value of restricted stock outstanding is based on the market price of the Company’s stock at December 31, 2017.
| 2017
| Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested Restricted Shares at January 1, | 232,231 |  |  |  | $29.47 |
Granted | 97,643 |  |  | 28.18 |
Vested | (42,808 | ) |  | 27.98 |
Cancelled | (5,497 | ) |  | 26.22 |
Non-vested Restricted Shares at December 31, | 281,569 |  |  |  | $29.32 |
Schedule of Nonvested Performance-based Units Activity | A summary of the Company’s performance share units is presented below:
| 2017 |  | 2016 |  | 2015
Common shares of Company stock reserved for performance shares granted during year | 226,448 |  |  | 250,584 |  |  | 219,844 |
Weighted average fair value of performance share units granted |  | $32.17 |  |  |  | $28.79 |  |  |  | $29.62 |
Intrinsic value of outstanding performance share units (a) | 10,414 |  |  | 7,482 |  |  | 3,822 |
Fair value of performance shares vested | — |  |  | — |  |  | — |
Cash used to purchase common shares from current and former employees to pay minimum withholding tax requirements on performance shares vested | — |  |  | — |  |  | — |
(a) | Intrinsic value of outstanding performance share units is based on the market price of the Company's stock at December 31, 2017.
| 2017
| Number of Units |  | Weighted Average Grant Date Fair Value
Outstanding Performance Share units at January 1, | 281,288 |  |  |  | $31.35 |
Granted | 113,224 |  |  | 32.17 |
Other Cancellations/Adjustments | (65,273 | ) |  | 38.56 |
Outstanding Performance Share units at December 31, | 329,239 |  |  |  | $30.21 |
Expected volatility was estimated using daily returns on the Company’s common stock for the three-year period ending on the grant date. The risk-free rate was based on the 3-year U.S. treasury rate on the date of the award. The dividend yield was not used to calculate fair value as awards granted receive dividend equivalents. The following table provides an overview of the assumptions used in calculating the fair value of the awards granted for the three years ended December 31, 2017:
| 2017 |  | 2016 |  | 2015
Expected volatility | 23.3 | % |  | 25.4 | % |  | 21.9 | %
Risk-free rate | 1.5 | % |  | 0.9 | % |  | 0.9 | %
Schedule of Share-based Compensation, Stock Options, Activity | A summary of the status of the Company’s stock options as of and for the year ended December 31, 2017 is presented below. The information reflects options in Rayonier common shares, including those awards held by Rayonier Advanced Materials employees.
| 2017
| Number of Shares |  | Weighted Average Exercise Price (per common share) |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Options outstanding at January 1, | 1,079,800 |  |  |  | $28.16 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (229,006 | ) |  | 20.75 |  |  |  |  |
Cancelled or expired | (9,728 | ) |  | 33.00 |  |  |  |  |
Options outstanding at December 31, | 841,066 |  |  | 30.13 |  |  | 4.2 |  |  | $2,589 |
Options exercisable at December 31, | 841,066 |  |  |  | $30.13 |  |  | 4.2 |  |  | $2,589 |
A summary of additional information pertaining to the Company’s stock options is presented below:
| 2017 |  | 2016 |  | 2015
Intrinsic value of options exercised (a) |  | $1,993 |  |  |  | $539 |  |  |  | $773 |
Fair value of options vested | 6,138 |  |  | 1,317 |  |  | 1,938 |
Cash received from exercise of options | 4,751 |  |  | 1,576 |  |  | 2,117 |
(a) | Intrinsic value of options exercised is the amount by which the fair value of the stock on the exercise date exceeded the exercise price of the option.

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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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