OTHER OPERATING INCOME, NET (Tables)

9 Months Ended

Sep. 30, 2022

Other Income and Expenses [Abstract]

Schedule of Other Operating Income, Net

Other operating income, net consisted of the following:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
(Loss) gain on foreign currency remeasurement, net of cash flow hedges	($1,158)	$1,379	($481)	$5,730
Gain on sale or disposal of property and equipment	9	—	40	93
Gain on investment in Timber Funds (a)	—	3,729	—	3,729
Log trading marketing fees	—	—	—	6
Equity income related to Bainbridge Landing LLC joint venture (b)	15,848	36	15,477	241
Miscellaneous expense, net	(118)	(74)	(638)	(325)
Total	$14,581	$5,070	$14,398	$9,474

(a)Gain on investment in Timber Funds represents the gain recognized on the sale of rights to manage two timber funds (Funds III and IV) previously managed by the Company’s Olympic Resources Management (ORM) subsidiary, as well as its co-investment stake in both funds.

(b)The three and nine months ended September 30, 2022 include $16.0 million equity income from the sale of a multi-family apartment complex in Bainbridge Island, Washington. As the equity investment was co-owned with outside investors, $4.5 million of the equity income was attributable to Rayonier. See Note 4 - Noncontrolling Interests for additional information.