XML 67 R51.htm IDEA: XBRL DOCUMENT
v3.20.2

FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, by Balance Sheet Grouping | The following table presents the carrying amount and estimated fair values of our financial instruments as of September 30, 2020 and December 31, 2019, using market information and what we believe to be appropriate valuation methodologies under GAAP:
|  | September 30, 2020 |  | December 31, 2019
Asset (Liability) (a) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
| Level 1 |  | Level 2 |  |  | Level 1 |  | Level 2
Cash and cash equivalents, excluding Timber Funds |  | $75,178 |  |  | $75,178 |  |  | — |  |  | $68,735 |  |  | $68,735 |  |  | — |
Cash and cash equivalents, Timber Funds |  | 2,973 |  |  | 2,973 |  |  | — |  |  | — |  |  | — |  |  | — |
Restricted cash (b) |  | 475 |  |  | 475 |  |  | — |  |  | 1,233 |  |  | 1,233 |  |  | — |
Current maturities of long-term debt, excluding Timber Funds |  | — |  |  | — |  |  | — |  |  | (82,000) |  |  | — |  |  | (82,000) |
Long-term debt, excluding Timber Funds (c) |  | (1,318,205) |  |  | — |  |  | (1,325,204) |  |  | (973,129) |  |  | — |  |  | (981,500) |
Long-term debt, Timber Funds (c) |  | (60,391) |  |  | — |  |  | (60,628) |  |  | — |  |  | — |  |  | — |
Interest rate swaps (d) |  | (61,308) |  |  | — |  |  | (61,308) |  |  | (8,454) |  |  | — |  |  | (8,454) |
Forward-starting interest rate swaps (d) |  | (20,980) |  |  | — |  |  | (20,980) |  |  | — |  |  | — |  |  | — |
Foreign currency exchange contracts (d) |  | 2,449 |  |  | — |  |  | 2,449 |  |  | 642 |  |  | — |  |  | 642 |
Foreign currency option contracts (d) |  | 389 |  |  | — |  |  | 389 |  |  | 303 |  |  | — |  |  | 303 |
Carbon option contracts (d) |  | — |  |  | — |  |  | — |  |  | (607) |  |  | — |  |  | (607) |
Marketable equity securities (e) |  | — |  |  | — |  |  | — |  |  | 10,582 |  |  | 10,582 |  |  | — |
Noncontrolling Interests in the Operating Partnership (f) |  | 117,530 |  |  | 117,530 |  |  | — |  |  | — |  |  | — |  |  | — |
(a)We did not have Level 3 assets or liabilities at September 30, 2020 and December 31, 2019. (b)Restricted cash represents the proceeds from like-kind exchange sales deposited with a third-party intermediary and cash held in escrow for a real estate sale. See Note 22 — Restricted Cash for additional information. (c)The carrying amount of long-term debt is presented net of capitalized debt costs on non-revolving debt. See Note 7 — Debt for additional information. (d)See Note 15 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets classification of our derivative financial instruments. (e)Investments in marketable securities are classified in “Other Assets” based on the nature of the securities and their availability for use in current operations. (f)Noncontrolling Interests in the Operating Partnership is neither an asset or liability and is classified as temporary equity in the Company’s Consolidated Balance Sheets. This relates to the ownership of Rayonier, L.P. Common Units by various individuals and entities other than the Company.
Schedule of Marketable Securities Unrealized Gain Position | The following table presents marketable equity securities that have been in a continuous unrealized gain position for less than 12 months and for more than 12 months or greater at September 30, 2020 and December 31, 2019:
|  | September 30, 2020 |  | December 31, 2019
|  | Carrying Amount | Less than 12 Months | 12 Months or Greater | Total |  | Carrying Amount | Less than 12 Months | 12 Months or Greater | Total
Fair value of marketable equity securities |  | — |  | — |  | — |  | — |  |  | $10,582 | 10,582 |  | — |  | 10,582 |
Unrealized (losses) gains |  | — |  | — |  | — |  | — |  |  | — |  | 3,043 |  | — |  | 3,043 |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration