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Consolidating Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2017
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, 2017
| Rayonier Inc. (Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
SALES | — |  |  | — |  |  |  | $819,596 |  |  | — |  |  |  | $819,596 |
Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 568,253 |  |  | — |  |  | 568,253 |
Selling and general expenses | — |  |  | 16,797 |  |  | 23,448 |  |  | — |  |  | 40,245 |
Other operating expense (income), net | — |  |  | 479 |  |  | (4,872 | ) |  | — |  |  | (4,393 | )
| — |  |  | 17,276 |  |  | 586,829 |  |  | — |  |  | 604,105 |
OPERATING (LOSS) INCOME | — |  |  | (17,276 | ) |  | 232,767 |  |  | — |  |  | 215,491 |
Interest expense | (12,556 | ) |  | (19,699 | ) |  | (1,816 | ) |  | — |  |  | (34,071 | )
Interest and miscellaneous income (expense), net | 9,679 |  |  | 2,878 |  |  | (10,717 | ) |  | — |  |  | 1,840 |
Equity in income from subsidiaries | 151,719 |  |  | 186,388 |  |  | — |  |  | (338,107 | ) |  | — |
INCOME BEFORE INCOME TAXES | 148,842 |  |  | 152,291 |  |  | 220,234 |  |  | (338,107 | ) |  | 183,260 |
Income tax expense | — |  |  | (572 | ) |  | (21,109 | ) |  | — |  |  | (21,681 | )
NET INCOME | 148,842 |  |  | 151,719 |  |  | 199,125 |  |  | (338,107 | ) |  | 161,579 |
Less: Net income attributable to noncontrolling interest | — |  |  | — |  |  | 12,737 |  |  | — |  |  | 12,737 |
NET INCOME ATTRIBUTABLE TO RAYONIER INC. | 148,842 |  |  | 151,719 |  |  | 186,388 |  |  | (338,107 | ) |  | 148,842 |
OTHER COMPREHENSIVE INCOME |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment | 7,416 |  |  | — |  |  | 9,114 |  |  | (7,416 | ) |  | 9,114 |
New Zealand joint venture cash flow hedges | 5,353 |  |  | 4,214 |  |  | 1,479 |  |  | (5,353 | ) |  | 5,693 |
Actuarial change and amortization of pension and postretirement plan liabilities | (208 | ) |  | (208 | ) |  | — |  |  | 208 |  |  | (208 | )
Total other comprehensive income | 12,561 |  |  | 4,006 |  |  | 10,593 |  |  | (12,561 | ) |  | 14,599 |
COMPREHENSIVE INCOME | 161,403 |  |  | 155,725 |  |  | 209,718 |  |  | (350,668 | ) |  | 176,178 |
Less: Comprehensive income attributable to noncontrolling interest | — |  |  | — |  |  | 14,775 |  |  | — |  |  | 14,775 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO RAYONIER INC. |  | $161,403 |  |  |  | $155,725 |  |  |  | $194,943 |  |  |  | ($350,668 | ) |  |  | $161,403 |
| CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Year Ended December 31, 2016
| Rayonier Inc. (Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
SALES | — |  |  | — |  |  |  | $815,915 |  |  | — |  |  |  | $815,915 |
Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 526,439 |  |  | — |  |  | 526,439 |
Selling and general expenses | — |  |  | 15,253 |  |  | 27,532 |  |  | — |  |  | 42,785 |
Other operating expense (income), net | — |  |  | 448 |  |  | (9,534 | ) |  | — |  |  | (9,086 | )
| — |  |  | 15,701 |  |  | 544,437 |  |  | — |  |  | 560,138 |
OPERATING (LOSS) INCOME | — |  |  | (15,701 | ) |  | 271,478 |  |  | — |  |  | 255,777 |
Interest expense | (12,555 | ) |  | (16,775 | ) |  | (2,915 | ) |  | — |  |  | (32,245 | )
Interest and miscellaneous income (expense), net | 8,613 |  |  | 2,750 |  |  | (12,061 | ) |  | — |  |  | (698 | )
Equity in income from subsidiaries | 215,914 |  |  | 246,193 |  |  | — |  |  | (462,107 | ) |  | — |
INCOME BEFORE INCOME TAXES | 211,972 |  |  | 216,467 |  |  | 256,502 |  |  | (462,107 | ) |  | 222,834 |
Income tax expense | — |  |  | (553 | ) |  | (4,511 | ) |  | — |  |  | (5,064 | )
NET INCOME | 211,972 |  |  | 215,914 |  |  | 251,991 |  |  | (462,107 | ) |  | 217,770 |
Less: Net income attributable to noncontrolling interest | — |  |  | — |  |  | 5,798 |  |  | — |  |  | 5,798 |
NET INCOME ATTRIBUTABLE TO RAYONIER INC. | 211,972 |  |  | 215,914 |  |  | 246,193 |  |  | (462,107 | ) |  | 211,972 |
OTHER COMPREHENSIVE INCOME |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment | 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 | — |  |  | — |  |  |  | $568,800 |  |  | — |  |  |  | $568,800 |
Costs and Expenses |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 441,718 |  |  | — |  |  | 441,718 |
Selling and general expenses | — |  |  | 20,468 |  |  | 25,282 |  |  | — |  |  | 45,750 |
Other operating (income) expense, net | — |  |  | (404 | ) |  | 3,952 |  |  | — |  |  | 3,548 |
| — |  |  | 20,064 |  |  | 470,952 |  |  | — |  |  | 491,016 |
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 |
Schedule of Condensed Consolidating Balance Sheet |
| CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2017
| Rayonier Inc. (Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
ASSETS |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $48,564 |  |  |  | $25,042 |  |  |  | $39,047 |  |  | — |  |  |  | $112,653 |
Accounts receivable, less allowance for doubtful accounts | — |  |  | 3,726 |  |  | 23,967 |  |  | — |  |  | 27,693 |
Inventory | — |  |  | — |  |  | 24,141 |  |  | — |  |  | 24,141 |
Prepaid logging roads | — |  |  | — |  |  | 11,207 |  |  | — |  |  | 11,207 |
Prepaid expenses | — |  |  | 759 |  |  | 4,027 |  |  | — |  |  | 4,786 |
Other current assets | — |  |  | 14 |  |  | 3,033 |  |  | — |  |  | 3,047 |
Total current assets | 48,564 |  |  | 29,541 |  |  | 105,422 |  |  | — |  |  | 183,527 |
TIMBER AND TIMBERLANDS, NET OF DEPLETION AND AMORTIZATION | — |  |  | — |  |  | 2,462,066 |  |  | — |  |  | 2,462,066 |
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS | — |  |  | — |  |  | 80,797 |  |  | — |  |  | 80,797 |
NET PROPERTY, PLANT AND EQUIPMENT | — |  |  | 21 |  |  | 23,357 |  |  | — |  |  | 23,378 |
RESTRICTED CASH | — |  |  | — |  |  | 59,703 |  |  | — |  |  | 59,703 |
INVESTMENT IN SUBSIDIARIES | 1,531,156 |  |  | 2,814,408 |  |  | — |  |  | (4,345,564 | ) |  | — |
INTERCOMPANY RECEIVABLE | 40,067 |  |  | (628,167 | ) |  | 588,100 |  |  | — |  |  | — |
OTHER ASSETS | 2 |  |  | 12,680 |  |  | 36,328 |  |  | — |  |  | 49,010 |
TOTAL ASSETS |  | $1,619,789 |  |  |  | $2,228,483 |  |  |  | $3,355,773 |  |  |  | ($4,345,564 | ) |  |  | $2,858,481 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |
Accounts payable | — |  |  |  | $2,838 |  |  |  | $22,310 |  |  | — |  |  |  | $25,148 |
Current maturities of long-term debt | — |  |  | — |  |  | 3,375 |  |  | — |  |  | 3,375 |
Accrued taxes | — |  |  | 48 |  |  | 3,733 |  |  | — |  |  | 3,781 |
Accrued payroll and benefits | — |  |  | 5,298 |  |  | 4,364 |  |  | — |  |  | 9,662 |
Accrued interest | 3,047 |  |  | 1,995 |  |  | 12 |  |  | — |  |  | 5,054 |
Deferred revenue | — |  |  | — |  |  | 9,721 |  |  | — |  |  | 9,721 |
Other current liabilities | — |  |  | 564 |  |  | 11,243 |  |  | — |  |  | 11,807 |
Total current liabilities | 3,047 |  |  | 10,743 |  |  | 54,758 |  |  | — |  |  | 68,548 |
LONG-TERM DEBT | 323,434 |  |  | 663,570 |  |  | 35,000 |  |  | — |  |  | 1,022,004 |
PENSION AND OTHER POSTRETIREMENT BENEFITS | — |  |  | 32,589 |  |  | (684 | ) |  | — |  |  | 31,905 |
OTHER NON-CURRENT LIABILITIES | — |  |  | 9,386 |  |  | 33,698 |  |  | — |  |  | 43,084 |
INTERCOMPANY PAYABLE | (299,715 | ) |  | (18,961 | ) |  | 318,676 |  |  | — |  |  | — |
TOTAL RAYONIER INC. SHAREHOLDERS’ EQUITY | 1,593,023 |  |  | 1,531,156 |  |  | 2,814,408 |  |  | (4,345,564 | ) |  | 1,593,023 |
Noncontrolling interest | — |  |  | — |  |  | 99,917 |  |  | — |  |  | 99,917 |
TOTAL SHAREHOLDERS’ EQUITY | 1,593,023 |  |  | 1,531,156 |  |  | 2,914,325 |  |  | (4,345,564 | ) |  | 1,692,940 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $1,619,789 |  |  |  | $2,228,483 |  |  |  | $3,355,773 |  |  |  | ($4,345,564 | ) |  |  | $2,858,481 |
| CONDENSED CONSOLIDATING 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 INVESTMENTS | — |  |  | — |  |  | 70,374 |  |  | — |  |  | 70,374 |
NET PROPERTY, PLANT AND EQUIPMENT | — |  |  | 177 |  |  | 13,857 |  |  | — |  |  | 14,034 |
RESTRICTED CASH | — |  |  | — |  |  | 71,708 |  |  | — |  |  | 71,708 |
INVESTMENT IN SUBSIDIARIES | 1,422,081 |  |  | 2,671,428 |  |  | — |  |  | (4,093,509 | ) |  | — |
INTERCOMPANY RECEIVABLES | 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 |
Deferred revenue | — |  |  | — |  |  | 9,099 |  |  | — |  |  | 9,099 |
Other current liabilities | — |  |  | 165 |  |  | 11,415 |  |  | — |  |  | 11,580 |
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 |
Schedule of Condensed Consolidating Cash Flows Statement |
| CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2017
| Rayonier Inc. (Parent Issuer) |  | Subsidiary Guarantors |  | Non- guarantors |  | Consolidating Adjustments |  | Total Consolidated
CASH (USED FOR) PROVIDED BY OPERATING ACTIVITIES |  | ($48,104 | ) |  |  | $111,431 |  |  |  | $192,957 |  |  | — |  |  |  | $256,284 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | — |  |  | (65,345 | ) |  | — |  |  | (65,345 | )
Real estate development investments | — |  |  | — |  |  | (15,784 | ) |  | — |  |  | (15,784 | )
Purchase of timberlands | — |  |  | — |  |  | (242,910 | ) |  | — |  |  | (242,910 | )
Net proceeds from Large Dispositions | — |  |  | — |  |  | 95,243 |  |  | — |  |  | 95,243 |
Rayonier office building under construction | — |  |  | — |  |  | (6,084 | ) |  | — |  |  | (6,084 | )
Change in restricted cash | — |  |  | — |  |  | 12,005 |  |  | — |  |  | 12,005 |
Investment in subsidiaries | — |  |  | 38,546 |  |  | — |  |  | (38,546 | ) |  | — |
Other | — |  |  | — |  |  | (373 | ) |  | — |  |  | (373 | )
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES | — |  |  | 38,546 |  |  | (223,248 | ) |  | (38,546 | ) |  | (223,248 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Issuance of debt | — |  |  | 25,000 |  |  | 38,389 |  |  | — |  |  | 63,389 |
Repayment of debt | — |  |  | (15,000 | ) |  | (85,157 | ) |  | — |  |  | (100,157 | )
Dividends paid | (127,069 | ) |  | — |  |  | — |  |  | — |  |  | (127,069 | )
Proceeds from the issuance of common shares | 4,751 |  |  | — |  |  | — |  |  | — |  |  | 4,751 |
Proceeds from the issuance of common shares from equity offering, net of costs | 152,390 |  |  | — |  |  | — |  |  | — |  |  | 152,390 |
Repurchase of common shares | (176 | ) |  | — |  |  | — |  |  | — |  |  | (176 | )
Issuance of intercompany notes | (32,000 | ) |  | — |  |  | 32,000 |  |  | — |  |  | — |
Intercompany distributions | 77,319 |  |  | (144,396 | ) |  | 28,531 |  |  | 38,546 |  |  | — |
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES | 75,215 |  |  | (134,396 | ) |  | 13,763 |  |  | 38,546 |  |  | (6,872 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | 580 |  |  | — |  |  | 580 |
CASH AND CASH EQUIVALENTS |  |  |  |  |  |  |  |  |
Change in cash and cash equivalents | 27,111 |  |  | 15,581 |  |  | (15,948 | ) |  | — |  |  | 26,744 |
Balance, beginning of year | 21,453 |  |  | 9,461 |  |  | 54,995 |  |  | — |  |  | 85,909 |
Balance, end of year |  | $48,564 |  |  |  | $25,042 |  |  |  | $39,047 |  |  | — |  |  |  | $112,653 |
| 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 Disposition | — |  |  | — |  |  | 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 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 |
Repurchase of common shares | (690 | ) |  | — |  |  | — |  |  | — |  |  | (690 | )
Debt issuance costs | — |  |  | (818 | ) |  | — |  |  | — |  |  | (818 | )
Issuance of intercompany notes | (12,000 | ) |  | — |  |  | 12,000 |  |  | — |  |  | — |
Intercompany distributions | 160,597 |  |  | (230,893 | ) |  | 364,116 |  |  | (293,820 | ) |  | — |
Other | (177 | ) |  | — |  |  | (124 | ) |  | — |  |  | (301 | )
CASH PROVIDED BY FINANCING ACTIVITIES | 26,461 |  |  | 176,289 |  |  | 205,493 |  |  | (293,820 | ) |  | 114,423 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (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 | — |  |  | — |  |  | 7,009 |  |  | — |  |  | 7,009 |
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES | — |  |  | 126,164 |  |  | (166,231 | ) |  | (126,242 | ) |  | (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 |
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 |

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