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OTHER COMPREHENSIVE INCOME
 6 Months Ended
Jun. 30, 2017
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:

 

     Quarter Ended
June 30,		      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  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

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 )