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ACCUMULATED OTHER COMPREHENSIVE INCOME
 3 Months Ended
Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)
The following table summarizes the changes in AOCI by component for the three months ended March 31, 2015 and the year ended December 31, 2014. All amounts are presented net of tax and exclude portions attributable to noncontrolling interest.
 
Foreign currency translation gains/ (losses)
 
Net investment hedge of New Zealand JV
 
New Zealand JV cash flow hedges
 
Unrecognized components of employee benefit plans
 
Total
Balance as of December 31, 2013

$36,914

 
—

 

($342
)
 

($82,711
)
 

($46,139
)
Other comprehensive income/(loss) before reclassifications
(11,381
)
 
(145
)
 
510

 
47,938

(a)
36,922

Amounts reclassified from accumulated other comprehensive loss
—

 
—

 
(1,716
)
 
6,108

(b)
4,392

Net other comprehensive income/(loss)
(11,381
)
 
(145
)
 
(1,206
)
 
54,046

 
41,314

Balance as of December 31, 2014

$25,533

 

($145
)
 

($1,548
)
 

($28,665
)
 

($4,825
)
Other comprehensive income/(loss) before reclassifications
(11,020
)
 
591

 
(907
)
 
—

 
(11,336
)
Amounts reclassified from accumulated other comprehensive loss
—

 
—

 
292

 
781

(c)
1,073

Net other comprehensive income/(loss)
(11,020
)
 
591

 
(615
)

781


(10,263
)
Balance as of March 31, 2015

$14,513

 

$446

 

($2,163
)
 

($27,884
)
 

($15,088
)
 
 
 
 
 
(a)
Reflects $78 million, net of taxes, of comprehensive income due to the transfer of losses to Rayonier Advanced Materials Pension Plans. This comprehensive income was offset by $30 million, net of taxes, of losses as a result of revaluations required due to the spin-off and at December 31, 2014. See Note 22 — Employee Benefit Plans in the 2014 Form 10-K for additional information.
(b)
This accumulated other comprehensive income component is comprised of $5 million from the computation of net periodic pension cost and the $1 million write-off of a deferred tax asset related to the revaluation and transfer of liabilities as a result of the spin-off.
(c)
This component of other comprehensive income is included in the computation of net periodic pension cost. See Note 13 — Employee Benefit Plans for additional information.
The following table presents details of the amounts reclassified in their entirety from AOCI to net income for the three months ended March 31, 2015 and March 31, 2014:
Details about accumulated other comprehensive income components
 
Amount reclassified from accumulated other comprehensive income
 
Affected line item in the income statement
 
 
March 31, 2015
 
March 31, 2014
 
 
Realized loss (gain) on foreign currency exchange contracts
 

$364

 

($872
)
 
Other operating income, net
Realized loss (gain) on foreign currency option contracts
 
293

 
(107
)
 
Other operating income, net
Noncontrolling interest
 
(230
)
 
343

 
Comprehensive (loss) income attributable to noncontrolling interest
Income tax (benefit) expense on loss from foreign currency contracts
 
(135
)
 
144

 
Income tax benefit
Net loss (gain) on cash flow hedges reclassified from accumulated other comprehensive income
 

$292

 

($492
)