ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in AOCI by component for the nine months ended September 30, 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	(52,770)	—	66,573	(a)	—		13,803	(378)	13,425
Amounts reclassified from accumulated other comprehensive income	—	—	3,115		564	(b)	3,679	901	4,580
Net other comprehensive income (loss)	(52,770)	—	69,688		564		17,482	523	18,005
Balance as of September 30, 2022	($48,555)	$1,321	$60,525		($11,272)		$2,019	($3,618)	($1,599)

(a)The nine months ended September 30, 2022 and the year ended December 31, 2021 include $76.4 million and $52.5 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 nine months ended September 30, 2022 and September 30, 2021:


Details about accumulated other comprehensive income (loss) components	Amount reclassified from accumulated other comprehensive income (loss)		Affected line item in the Income Statement
	September 30, 2022	September 30, 2021
Realized (gain) loss on foreign currency exchange contracts	($2,598)	$2,322	Other operating income, net
Realized loss on foreign currency option contracts	—	1,177	Other operating income, net
Noncontrolling interests	598	(805)	Comprehensive income attributable to noncontrolling interests
Realized loss on interest rate contracts	4,555	11,935	Interest expense
Income tax effect from net gain (loss) on foreign currency contracts	560	(755)	Income tax expense


Net loss on cash flow hedges reclassified from accumulated other comprehensive income	$3,115	$13,874