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HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS | 3 Months Ended
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Mar. 31, 2019
Real Estate [Abstract] |
HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS | HIGHER AND BETTER USE TIMBERLANDS AND REAL ESTATE DEVELOPMENT INVESTMENTS Rayonier continuously assesses potential alternative uses of its timberlands, as some properties may become more valuable for development, residential, recreation or other purposes. The Company periodically transfers, via a sale or contribution from the real estate investment trust (“REIT”) entities to taxable REIT subsidiaries (“TRS”), higher and better use (“HBU”) timberlands to enable land-use entitlement, development or marketing activities. The Company also acquires HBU properties in connection with timberland acquisitions. These properties are managed as timberlands until sold or developed. While the majority of HBU sales involve rural and recreational land, the Company also selectively pursues various land-use entitlements on certain properties for residential, commercial and industrial development in order to enhance the long-term value of such properties. For selected development properties, Rayonier also invests in targeted infrastructure improvements, such as roadways and utilities, to accelerate the marketability and improve the value of such properties. An analysis of higher and better use timberlands and real estate development investments from December 31, 2018 to March 31, 2019 is shown below:
| Higher and Better Use Timberlands and Real Estate Development Investments
| Land and Timber |  | Development Investments |  | Total
Non-current portion at December 31, 2018 |  | $59,189 |  |  |  | $26,420 |  |  |  | $85,609 |
Plus: Current portion (a) | 4,239 |  |  | 7,680 |  |  | 11,919 |
Total Balance at December 31, 2018 | 63,428 |  |  | 34,100 |  |  | 97,528 |
Non-cash cost of land and improved development | (974 | ) |  | (233 | ) |  | (1,207 | )
Timber depletion from harvesting activities and basis of timber sold in real estate sales | (1,020 | ) |  | — |  |  | (1,020 | )
Capitalized real estate development investments (b) | — |  |  | 1,677 |  |  | 1,677 |
Capital expenditures (silviculture) | 35 |  |  | — |  |  | 35 |
Intersegment transfers | 16 |  |  | — |  |  | 16 |
Total Balance at March 31, 2019 | 61,485 |  |  | 35,544 |  |  | 97,029 |
Less: Current portion (a) | (7,948 | ) |  | (12,794 | ) |  | (20,742 | )
Non-current portion at March 31, 2019 |  | $53,537 |  |  |  | $22,750 |  |  |  | $76,287 |
(a) | The current portion of Higher and Better Use Timberlands and Real Estate Development Investments is recorded in Inventory. See Note 17 — Inventory for additional information.
(b) Capitalized real estate development investments include $0.2 million of capitalized interest.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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