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Accumulated Other Comprehensive Income/(Loss)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Accumulated Other Comprehensive Income/(Loss)
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)
The following table summarizes the changes in AOCI by component for the year ended December 31, 2013. All amounts are presented net of tax and exclude portions attributable to noncontrolling interest.
 
Foreign currency translation gains (a)
 
New Zealand joint venture cash flow hedges (b)
 
Unrecognized components of employee benefit plans
 
Total
Balance as of December 31, 2012
$
38,829

 
$
(3,628
)
 
$
(144,580
)
 
$
(109,379
)
Other comprehensive income/(loss) before reclassifications
(1,915
)
 
798

 
45,931

(c)
44,814

Amounts reclassified from accumulated other comprehensive loss
—

 
2,488

 
15,938

(d)
18,426

Net other comprehensive income/(loss)
(1,915
)
 
3,286

 
61,869

 
63,240

Balance as of December 31, 2013
$
36,914

 
$
(342
)
 
$
(82,711
)
 
$
(46,139
)
 
 
 
 
(a)
During the year ended December 31, 2013 the decrease in net foreign currency translation gains was due to the strengthening of the U.S. dollar against the New Zealand dollar.
(b)
Prior to the acquisition of a majority interest in the New Zealand JV, Rayonier recorded its proportionate share of its cash flow hedges as increases or decreases to “Investment in Joint Venture” with corresponding adjustments to “Accumulated other comprehensive loss” in the Company’s Consolidated Balance Sheets. The New Zealand JV’s cash flow hedges have been consolidated as a result of the acquisition, as discussed in Note 6 — Derivative Financial Instruments and Hedging Activities.
(c)
The decrease in the unrecognized component of employee benefit plans was due to an actuarial gain resulting from an increase in the discount rate from 3.7 percent as of December 31, 2012 to 4.6 percent as of December 31, 2013, and higher than expected returns on plan assets in 2013.
(d)
This accumulated other comprehensive income component is included in the computation of net periodic pension cost. See Note 22 — Employee Benefit Plans for additional information.
The following table presents details of the amounts reclassified in their entirety from AOCI for the year ended December 31, 2013:
Details about accumulated other comprehensive income components
 
Amount reclassified from accumulated other comprehensive income
 
Affected line item in the income statement
Loss from New Zealand joint venture cash flow hedges
 
$
2,159

 
 
Gain related to consolidation of New Zealand joint venture
Realized loss on foreign exchange contracts
 
843

 
 
Other operating (income) expense, net
Noncontrolling interest benefit
 
(295
)
 
 
Comprehensive (loss) attributable to noncontrolling interest
Income tax benefit
 
(219
)
 
 
Income tax expense
Net loss reclassified from accumulated other comprehensive income
 
$
2,488