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OTHER OPERATING (EXPENSE) INCOME, NET (Tables)
12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
Schedule of Other Operating Income (Expense), Net
The following table provides the composition of Other operating (expense) income, net for the three years ended December 31:
202320222021
(Loss) gain on foreign currency remeasurement, net of cash flow hedges($8,458)($5,251)$6,823 
Gain on sale or disposal of property plant & equipment37 40 75 
Gain on investment in Timber Funds (a)— — 7,482 
Log trading marketing fees— — 
Equity income related to Bainbridge Landing LLC joint venture (b)— 15,477 102 
Miscellaneous income (expense), net115 (562)(404)
Total
($8,306)$9,704 $14,084 
(a)Gain on investment in Timber Funds represents the gain recognized on the sale of rights to manage two timber funds (Funds III and IV) previously managed by the Company’s Olympic Resources Management (ORM) subsidiary, as well as its co-investment stake in both funds.
(b)The year ended December 31, 2022 includes $16.0 million of equity income from the sale of a multi-family apartment complex in Bainbridge Island, Washington. As the equity investment was co-owned with outside investors, $4.5 million of the equity income was attributable to Rayonier. See Note 5 — Noncontrolling Interests for additional information.