| OTHER COMPREHENSIVE INCOME |
3. OTHER COMPREHENSIVE INCOME
Other comprehensive income consists of the foreign currency
translation adjustment associated with our Canadian
operations’ use of the Canadian dollar as its functional
currency and changes in the unrealized gains (losses) on cash flow
hedging instruments and available-for-sale securities. The tax
effects allocated to each component of other comprehensive income
were as follows:
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|
|
|
|
|
|
|
|
|
|
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| |
|
Quarter Ended
June 30, |
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|
Six Months Ended
June 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
|
Foreign currency translation adjustment
|
|
$ |
5,770 |
|
|
$ |
1,193 |
|
|
$ |
7,925 |
|
|
$ |
14,886 |
|
|
Unrealized gain (loss) on cash flow hedging instruments
|
|
|
304 |
|
|
|
(1,483 |
) |
|
|
(119 |
) |
|
|
(2,569 |
) |
|
Income tax (expense) benefit
|
|
|
(82 |
) |
|
|
401 |
|
|
|
32 |
|
|
|
694 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gain (loss) on cash flow hedging instruments, net of
tax
|
|
|
222 |
|
|
|
(1,082 |
) |
|
|
(87 |
) |
|
|
(1,875 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reclassification of (gain) loss on cash flow hedging instruments
into earnings
|
|
|
(937 |
) |
|
|
1,611 |
|
|
|
(1,180 |
) |
|
|
545 |
|
|
Income tax expense (benefit)
|
|
|
254 |
|
|
|
(435 |
) |
|
|
319 |
|
|
|
(147 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reclassification of (gain) loss on cash flow hedging instruments
into earnings, net of tax
|
|
|
(683 |
) |
|
|
1,176 |
|
|
|
(861 |
) |
|
|
398 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized (loss) gain on available-for-sale securities
|
|
|
(8 |
) |
|
|
(28 |
) |
|
|
5 |
|
|
|
(15 |
) |
|
Income tax benefit (expense)
|
|
|
3 |
|
|
|
10 |
|
|
|
(2 |
) |
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized (loss) gain on available-for-sale securities, net of
tax
|
|
|
(5 |
) |
|
|
(18 |
) |
|
|
3 |
|
|
|
(9 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income
|
|
$ |
5,304 |
|
|
$ |
1,269 |
|
|
$ |
6,980 |
|
|
$ |
13,400 |
|
|
|
|
|
|
|
|
|
|
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The changes in each component of accumulated other comprehensive
loss, net of tax, were as follows:
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30,
|
|
2017 |
|
|
2016 |
|
|
Foreign currency translation adjustment:
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
$ |
(43,459 |
) |
|
$ |
(47,204 |
) |
|
Current period other comprehensive income
|
|
|
4,907 |
|
|
|
9,095 |
|
|
|
|
|
|
|
|
|
|
|
Ending balance
|
|
|
(38,552 |
) |
|
|
(38,109 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flow hedging instruments:
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
|
215 |
|
|
|
600 |
|
|
Current period other comprehensive loss
|
|
|
(52 |
) |
|
|
(1,125 |
) |
|
Less reclassification adjustment
|
|
|
(517 |
) |
|
|
239 |
|
|
|
|
|
|
|
|
|
|
|
Ending balance
|
|
|
(354 |
) |
|
|
(286 |
) |
|
|
|
|
|
|
|
|
|
|
Available-for-sale securities:
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
|
(286 |
) |
|
|
(300 |
) |
|
Current period other comprehensive income (loss)
|
|
|
3 |
|
|
|
(9 |
) |
|
|
|
|
|
|
|
|
|
|
Ending balance
|
|
|
(283 |
) |
|
|
(309 |
) |
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive loss, net of tax
|
|
$ |
(39,189 |
) |
|
$ |
(38,704 |
) |
|
|
|
|
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|