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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments | The following table presents the carrying amount and estimated fair values of our financial instruments as of June 30, 2025 and December 31, 2024, using market information valuation methodologies we believe are appropriate under GAAP:
|  | June 30, 2025 |  | December 31, 2024
Asset (Liability) (a) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
| Level 1 |  | Level 2 |  |  | Level 1 |  | Level 2
Cash and cash equivalents |  | $892,256 |  |  | $892,256 |  |  | — |  |  | $303,065 |  |  | $303,065 |  |  | — |
Restricted cash, current (b) |  | — |  |  | — |  |  | — |  |  | 19,366 |  |  | 19,366 |  |  | — |
Restricted cash, non-current (b) |  | 677 |  |  | 677 |  |  | — |  |  | 676 |  |  | 676 |  |  | — |
Current maturities of long-term debt (c) |  | (199,956) |  |  | — |  |  | (200,000) |  |  | — |  |  | — |  |  | — |
Long-term debt (c) |  | (844,905) |  |  | — |  |  | (798,340) |  |  | (1,044,410) |  |  | — |  |  | (980,970) |
Interest rate swaps (d) |  | 34,166 |  |  | — |  |  | 34,166 |  |  | 49,353 |  |  | — |  |  | 49,353 |
Noncontrolling interests in the Operating Partnership (e) |  | 53,353 |  |  | — |  |  | 46,066 |  |  | 51,843 |  |  | — |  |  | 51,843 |
(a)We did not have Level 3 assets or liabilities at June 30, 2025 or December 31, 2024. (b)Restricted cash includes proceeds from like-kind exchange sales held by a third-party intermediary and cash held in escrow. See Note 18 — Restricted Cash for additional information. (c)The carrying amount of long-term debt is presented net of deferred financing costs and unamortized discounts on non-revolving debt. See Note 7 — Debt for additional information. (d)See Note 8 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets classification of our derivative financial instruments. (e)Noncontrolling interests in the Operating Partnership, representing ownership of Rayonier, L.P. units by parties other than the Company, are classified as temporary equity and are neither assets nor liabilities on the Company’s Consolidated Balance Sheets. See Note 5 — Noncontrolling Interests for additional information.

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