ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accumulated Other Comprehensive Income

The following table summarizes the changes in AOCI by component for the years ended December 31, 2023 and 2022. All amounts are presented net of tax and exclude portions attributable to noncontrolling interests.


	Foreign currency translation gains/(losses)	Net investment hedges of New Zealand subsidiary	Cash flow hedges		Employee benefit plans		Total Rayonier, L.P.	Allocation of Operating Partnership	Total Rayonier Inc.
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	(22,282)	—	78,166	(a)	874		56,758	(1,323)	55,435
Amounts reclassified from accumulated other comprehensive income	—	—	(1,799)		753	(b)	(1,046)	1,028	(18)
Net other comprehensive (loss) income	(22,282)	—	76,367		1,627		55,712	(295)	55,417

Balance as of December 31, 2022	($18,067)	$1,321	$67,204		($10,209)		$40,249	($4,436)	$35,813
Other comprehensive (loss) income before reclassifications	(1,466)	—	10,537	(a)	(1,449)		7,622	(75)	7,547
Amounts reclassified from accumulated other comprehensive income	—	—	(21,895)		2,042	(b)	(19,853)	1,144	(18,709)
Net other comprehensive (loss) income	(1,466)	—	(11,358)		593		(12,231)	1,069	(11,162)
Balance as of December 31, 2023	($19,533)	$1,321	$55,846		($9,616)		$28,018	($3,367)	$24,651

(a)The years ended December 31, 2023 and December 31, 2022 include $10.3 million and $75.0 million, respectively, of other comprehensive income related to interest rate products. See Note 8 — Derivative Financial Instruments and Hedging Activities for additional information.

(b)This component of other comprehensive income is included in the computation of net periodic pension and post-retirement costs. The year ended December 31, 2023 includes a $2.0 million pension settlement charge. See Note 18 — Employee Benefit Plans for additional information.

Schedule of 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 years ended December 31, 2023 and 2022:


Details about accumulated other comprehensive income components	Amount reclassified from accumulated other comprehensive income		Affected line item in the income statement
	2023	2022
Realized loss (gain) on foreign currency exchange contracts	$7,522	($7,682)	Other operating (expense) income, net
Realized loss on foreign currency option contracts	446	—	Other operating (expense) income, net
Noncontrolling interest	(1,833)	1,768	Comprehensive income attributable to noncontrolling interests
Realized (gain) loss on interest rate contracts	(26,311)	2,459	Interest expense
Income tax effect from net (loss) gain on foreign currency contracts	(1,719)	1,656	Income tax expense
Net gain on cash flow hedges reclassified from accumulated other comprehensive income	($21,895)	($1,799)