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OTHER ASSETS | 12 Months Ended
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Dec. 31, 2021
Other Assets [Abstract] |
OTHER ASSETS | OTHER ASSETS Included in Other Assets are derivatives, long-term prepaid roads, goodwill in the New Zealand subsidiary, patronage equity, capitalized software costs, carbon credits, long-term prepaid stumpage and other deferred expenses including deferred financing costs related to revolving debt. As of December 31, 2021 and 2020, our long-term derivative contracts follows:
| 2021 |  | 2020
Long-term derivative contracts | $11,796 |  | $1,563
See Note 1 — Summary of Significant Accounting Policies and Note 11 — Derivative Financial Instruments and Hedging Activities for further information on derivatives including their classification on the Consolidated Balance Sheets. As of December 31, 2021 and 2020, our prepaid logging and secondary roads follows:
| 2021 |  | 2020
Long-term and prepaid and secondary roads |  |  |
Pacific Northwest long-term prepaid roads | $4,131 |  |  | $4,087 |
New Zealand long-term secondary roads | 6,730 |  |  | 5,767 |
Total long-term prepaid and secondary roads | $10,861 |  |  | $9,854 |
See Note 1 — Summary of Significant Accounting Policies for additional information on prepaid logging roads. Changes in goodwill for the years ended December 31, 2021 and 2020 were:
| 2021 |  | 2020
Balance, January 1 (net of $0 of accumulated impairment) | $8,943 |  |  | $8,611 |
Changes to carrying amount |  |  |
Acquisitions | — |  |  | — |
Impairment | — |  |  | — |
Foreign currency adjustment | (486) |  |  | 332 |
Balance, December 31 (net of $0 of accumulated impairment) | $8,457 |  |  | $8,943 |
See Note 1 — Summary of Significant Accounting Policies for additional information on goodwill. As of December 31, 2021 and 2020, Rayonier’s patronage equity follows:
| 2021 |  | 2020
Patronage Equity | $7,322 |  | $6,685
See Note 1 — Summary of Significant Accounting Policies for additional information on patronage equity. As of December 31, 2021 and 2020, our capitalized software costs follows:
| 2021 |  | 2020
Capitalized software costs | $3,117 |  | $3,651
See Note 1 — Summary of Significant Accounting Policies for additional information on capitalized software costs. Changes in the basis of carbon credits for the years ended December 31, 2021 and 2020 were:
| 2021 |  | 2020
Balance, January 1 | $1,346 |  |  | $1,544 |
Changes to carrying amount |  |  |
Acquisitions | 698 |  |  | — |
Sales | — |  |  | (286) |
Foreign currency adjustment | (88) |  |  | 88 |
Balance, December 31 (net of $0 of accumulated impairment) | $1,956 |  |  | $1,346 |
See Note 1 — Summary of Significant Accounting Policies for additional information on carbon credits. As of December 31, 2021 and 2020, our prepaid stumpage follows:
| 2021 |  | 2020
Long-term prepaid stumpage | $1,461 |  | $3,137
See Note 1 — Summary of Significant Accounting Policies for additional information on prepaid stumpage. As of December 31, 2021 and 2020, our deferred financing costs related to revolving debt follows:
| 2021 |  | 2020
Deferred financing costs related to revolving debt | $1,104 |  | $1,040
See Note 1 — Summary of Significant Accounting Policies for additional information on deferred financing costs related to revolving debt.

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