Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

NOTE 9 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) on the unaudited Condensed Consolidated Balance Sheets is net of applicable taxes, and consists of unrealized gains and losses on available-for-sale securities, unrealized gains and losses on certain derivative transactions and foreign currency translation adjustments.

The following tables set forth the changes in Accumulated other comprehensive income (loss):

(in thousands)	Unrealized gains (losses) on available-for-sale securities		Unrealized gains (losses) on derivative transactions		Foreign currency  translation adjustments		Total
Balance as of March 31, 2022	$	(451)	$	7,823	$	(16,546)	$	(9,174)
Other comprehensive income (loss) before reclassifications	—		16,453		(28,818)		(12,365)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	451		(645)		—		(194)
Net other comprehensive income (loss) during the year	451		15,808		(28,818)		(12,559)
Balance as of June 30, 2022	$	—	$	23,631	$	(45,364)	$	(21,733)

(1) Amounts reclassified are recorded in Net sales, Cost of sales or Other non-operating expense, net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 11 for further information regarding reclassifications.

(in thousands)	Unrealized gains (losses) on derivative transactions		Foreign currency  translation adjustments		Total
Balance as of March 31, 2021	$	(806)	$	(3,029)	$	(3,835)
Other comprehensive income (loss) before reclassifications	(3,903)		5,230		1,327
Amounts reclassified from accumulated other comprehensive income (loss) (1)	352		—		352
Net other comprehensive income (loss) during the year	(3,551)		5,230		1,679
Balance as of June 30, 2021	$	(4,357)	$	2,201	$	(2,156)

(1) Amounts reclassified are recorded in Net sales or Cost of sales on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 11 for further information regarding reclassifications.

(in thousands)	Unrealized gains (losses) on available-for-sale securities		Unrealized gains (losses) on derivative transactions		Foreign currency  translation adjustments		Total
Balance as of December 31, 2021	$	—	$	9,914	$	(14,290)	$	(4,376)
Other comprehensive income (loss) before reclassifications	(451)		14,589		(31,074)		(16,936)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	451		(872)		—		(421)
Net other comprehensive income (loss) during the year	—		13,717		(31,074)		(17,357)
Balance as of June 30, 2022	$	—	$	23,631	$	(45,364)	$	(21,733)

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating expense, net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 11 for further information regarding reclassifications.

(in thousands)	Unrealized gains (losses) on derivative transactions		Foreign currency  translation adjustments		Total
Balance as of December 31, 2020	$	(9,369)	$	10,175	$	806
Other comprehensive income (loss) before reclassifications	5,376		(7,974)		(2,598)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	(364)		—		(364)
Net other comprehensive income (loss) during the year	5,012		(7,974)		(2,962)
Balance as of June 30, 2021	$	(4,357)	$	2,201	$	(2,156)

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating expense, net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 11 for further information regarding reclassifications.