ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2020

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in AOCI by component for the years ended December 31, 2020 and 2019. All amounts are presented net of tax effect and exclude portions attributable to noncontrolling interest.


	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, 2018	($1,010)	$1,321	$21,965		($22,037)		$239	—	$239
Other comprehensive (loss) income before reclassifications	784	—	(29,251)		(1,799)		(30,266)	—	(30,266)
Amounts reclassified from accumulated other comprehensive (loss) income	—	—	(1,624)		449	(b)	(1,175)	—	(1,175)
Net other comprehensive (loss) income	784	—	(30,875)		(1,350)		(31,441)	—	(31,441)

Balance as of December 31, 2019	($226)	$1,321	($8,910)		($23,387)		($31,202)	—	($31,202)
Other comprehensive (loss) income before reclassifications	22,928	—	(71,644)	(a)	(1,794)		(50,510)	—	(50,510)
Amounts reclassified from accumulated other comprehensive (loss) income	—	—	9,498		869	(b)	10,367	(2,540)	7,827
Net other comprehensive (loss) income	22,928	—	(62,146)		(925)		(40,143)	(2,540)	(42,683)
Balance as of December 31, 2020	$22,702	$1,321	($71,056)		($24,312)		($71,345)	($2,540)	($73,885)

(a)Includes $76.6 million of other comprehensive loss related to interest rate swaps. See Note 16 — 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 cost. See Note 18 — Employee Benefit Plans for additional information.

The following table presents details of the amounts reclassified in their entirety from AOCI for the years ended December 31, 2020 and 2019:


Details about accumulated other comprehensive (loss) income components	Amount reclassified from accumulated other comprehensive (loss) income		Affected line item in the income statement
	2020	2019
Realized (gain) loss on foreign currency exchange contracts	($2,324)	$1,246	Other operating income, net
Realized (gain) loss on foreign currency option contracts	30	(33)	Other operating income, net
Noncontrolling interest	528	(279)	Comprehensive income (loss) attributable to noncontrolling interest
Realized loss (gain) on interest rate contracts	10,769	(2,296)	Interest expense
Income tax expense (benefit) from foreign currency contracts	495	(262)	Income tax expense (Note 11)
Net loss (gain) on cash flow hedges reclassified from accumulated other comprehensive income	$9,498	($1,624)