ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in AOCI by component for the three months ended March 31, 2022 and the year ended December 31, 2021. All amounts are presented net of tax and exclude portions attributable to noncontrolling interests.


	Foreign currency translation (loss) gains	Net investment hedges of New Zealand subsidiary	Cash flow hedges		Employee benefit plans		Total Rayonier, L.P.	Allocation to Operating Partnership	Total Rayonier Inc.
Balance as of December 31, 2020	$22,702	$1,321	($71,056)		($24,312)		($71,345)	(2,540)	($73,885)
Other comprehensive income (loss) before reclassifications	(18,487)	—	44,899	(a)	11,302		37,714	(1,080)	36,634
Amounts reclassified from accumulated other comprehensive income (loss)	—	—	16,994		1,174	(b)	18,168	(521)	17,647
Net other comprehensive income (loss)	(18,487)	—	61,893		12,476		55,882	(1,601)	54,281
Balance as of December 31, 2021	$4,215	$1,321	($9,163)		($11,836)		($15,463)	($4,141)	($19,604)
Other comprehensive (loss) income before reclassifications	5,668	—	37,147	(a)	—		42,815	(954)	41,861
Amounts reclassified from accumulated other comprehensive income (loss)	—	—	2,675		188	(b)	2,863	853	3,716
Net other comprehensive income (loss)	5,668	—	39,822		188		45,678	(101)	45,577
Balance as of March 31, 2022	$9,883	$1,321	$30,659		($11,648)		$30,215	($4,242)	$25,973

(a)The year ended December 31, 2021 and the three months ended March 31, 2022 include $52.5 million and $35.1 million, respectively, of other comprehensive income related to interest rate products. See Note 7 — Derivative Financial Instruments and Hedging Activities for additional information.

(b)This component of other comprehensive income (loss) is included in the computation of net periodic pension and post-retirement costs. See Note 16 — Employee Benefit Plans for additional information.

Reclassification out of Accumulated Other Comprehensive Income

The following table presents details of the amounts reclassified in their entirety from AOCI to net income for the three months ended March 31, 2022 and March 31, 2021:


Details about accumulated other comprehensive income (loss) components	Amount reclassified from accumulated other comprehensive income (loss)		Affected line item in the income statement
	March 31, 2022	March 31, 2021
Realized loss on foreign currency exchange contracts	$9	$1,205	Other operating (expense) income, net
Realized loss on foreign currency option contracts	—	594	Other operating (expense) income, net
Noncontrolling interests	(2)	(414)	Comprehensive income attributable to noncontrolling interests
Realized loss on interest rate contracts	2,670	3,994	Interest expense
Income tax effect from net loss on foreign currency contracts	(2)	(388)	Income tax expense


Net loss on cash flow hedges reclassified from accumulated other comprehensive income	$2,675	$4,991