ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2025

The following table summarizes the changes in AOCI by component for the three months ended March 31, 2025 and the year ended December 31, 2024. All amounts are presented net of tax and exclude portions attributable to noncontrolling interests.


	Foreign currency translation (losses) gains	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, 2023	($19,533)	$1,321	$55,846		($9,616)		$28,018	($3,367)	$24,651
Other comprehensive (loss) income before reclassifications	(31,616)	—	13,713	(a)	5,251		(12,652)	163	(12,489)
Amounts reclassified from accumulated other comprehensive (loss) income	—	—	(27,826)		4,595	(b)	(23,231)	640	(22,591)
Net other comprehensive (loss) income	(31,616)	—	(14,113)		9,846		(35,883)	803	(35,080)
Balance as of December 31, 2024	($51,149)	$1,321	$41,733		$230		($7,865)	($2,564)	($10,429)
Other comprehensive income (loss) before reclassifications	3,515	—	(3,385)	(a)	—		130	(2)	128
Amounts reclassified from accumulated other comprehensive (loss) income	—	—	(4,056)		(2)	(b)	(4,058)	55	(4,003)
Net other comprehensive income (loss)	3,515	—	(7,441)		(2)		(3,928)	53	(3,875)
Balance as of March 31, 2025	($47,634)	$1,321	$34,292		$228		($11,793)	($2,511)	($14,304)

(a)The three months ended March 31, 2025 includes $4.2 million of other comprehensive loss related to interest rate products. The year ended December 31, 2024 included $21.8 million 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 (loss) income is included in the computation of net periodic pension and post-retirement costs. The year ended December 31, 2024 includes a pension settlement charge of $4.6 million, net of tax of $1.2 million.

The following table presents details of the amounts reclassified in their entirety from AOCI to net (loss) income for the three months ended March 31, 2025 and March 31, 2024:


Details about accumulated other comprehensive loss components	Amount reclassified from accumulated other comprehensive loss		Affected line item in the Income Statement
	March 31, 2025	March 31, 2024
Realized loss on foreign currency exchange contracts	$801	$459	Income from discontinued operations, net of tax
Realized loss on foreign currency option contracts	20	8	Income from discontinued operations, net of tax
Noncontrolling interests	(189)	(108)	Comprehensive loss attributable to noncontrolling interests
Realized gain on interest rate contracts	(4,511)	(7,278)	Interest expense, net
Income tax effect from net loss on foreign currency contracts	(177)	(101)	Income from discontinued operations, net of tax


Net gain on cash flow hedges reclassified from accumulated other comprehensive loss	($4,056)	($7,020)