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OTHER COMPREHENSIVE (LOSS) INCOME
 12 Months Ended
Dec. 31, 2018
OTHER COMPREHENSIVE INCOME (LOSS)
4. OTHER COMPREHENSIVE
(LOSS)
 
INCOME
Other comprehensive (loss) income consists of the foreign currency translation adjustment associated with our Canadian operations’ use of the Canadian dollar as their functional currency and changes in the unrealized gains (losses) on cash flow hedging instruments and equity securities. The tax effects allocated to each component of other comprehensive (loss) income were as follows: 
Years Ended December 31,
 
2018
 
 
2017
 
 
2016
 
Foreign currency translation adjustment
 
$
(20,493
)
 
$
15,993
 
 
$
6,211
 
Unrealized gain (loss) on cash flow hedging instruments
 
 
2,627
 
 
 
(961
)
 
 
(1,321
)
Income tax (expense) benefit
 
 
(709
)
 
 
259
 
 
 
356
 
Unrealized gain (loss) on cash flow hedging instruments, net of tax
 
 
1,918
 
 
 
(702
)
 
 
(965
)
Reclassification of (gain) loss on cash flow hedging instruments into earnings
 
 
(215
)
 
 
(491
)
 
 
442
 
Income tax expense (benefit)
 
 
58
 
 
 
133
 
 
 
(119
)
Reclassification of (gain) loss on cash flow hedging instruments into earnings, net of tax
 
 
(157
)
 
 
(358
)
 
 
323
 
Unrealized gain on equity securities
 
 
—
 
 
 
51
 
 
 
27
 
Income tax expense
 
 
—
 
 
 
(66
)
 
 
(13
)
Unrealized (loss) gain on equity securities, net of tax
 
 
—
 
 
 
(15
)
 
 
14
 
Other comprehensive (loss) income
 
$
(18,732
)
 
$
14,918
 
 
$
5,583
 
The changes in each component of accumulated other comprehensive loss, net of tax, were as follows:
 
Years Ended December 31,
 
2018
 
 
2017
 
 
2016
 
Foreign currency translation adjustment:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
(33,499
)
 
$
(43,459
)
 
$
(47,204
)
Current period other comprehensive (loss) income
 
 
(13,105
)
 
 
9,960
 
 
 
3,745
 
Ending balance
 
 
(46,604
)
 
 
(33,499
)
 
 
(43,459
)
Cash flow hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
 
(421
)
 
 
215
 
 
 
600
 
Current period other comprehensive income (loss)
 
 
1,151
 
 
 
(421
)
 
 
(579
)
Reclassification adjustment
 
 
(94
)
 
 
(215
)
 
 
194
 
Ending balance
 
 
636
 
 
 
(421
)
 
 
215
 
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
 
(301
)
 
 
(286
)
 
 
(300
)
Cumulative-effect adjustment to retained earnings
 
 
301
 
 
 
—
 
 
 
—
 
Current period other comprehensive (loss) income
 
 
—
 
 
 
(15
)
 
 
14
 
Ending balance
 
 
—
 
 
 
(301
)
 
 
(286
)
Accumulated other comprehensive loss, net of tax
 
$
(45,968
)
 
$
(34,221
)
 
$
(43,530
)