ACCUMULATED OTHER COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2017

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The table below provides the balances for each classification of accumulated other comprehensive income (loss) as of June 30, 2017 and December 31, 2016 (in thousands):



	June 30, 2017			December 31, 2016
Foreign currency translation adjustments, net of tax ⁽¹⁾	$	(135,559	)	$	(311,247	)
Net unrealized gain on marketable securities, net of tax ⁽²⁾	709,474			176,563
Accumulated other comprehensive income (loss)	$	573,915		$	(134,684	)

⁽¹⁾ Foreign currency translation adjustments, net of tax, at June 30, 2017 and December 31, 2016, include net losses from fair value adjustments of $35.0 million after tax ($52.6 million before tax) associated with previously settled derivatives that were designated as net investment hedges.

Foreign currency translation adjustments, net of tax, include foreign currency transaction losses of $17.0 million after tax ($9.6 million before tax) and foreign currency transaction gains of $182.6 million after tax ($310.4 million before tax) associated with the Company's Euro-denominated debt at June 30, 2017 and December 31, 2016, respectively. The Euro-denominated debt is designated as a hedge of the Company's Euro-denominated net assets (see Note 7).

The remaining balance in foreign currency translation adjustments excludes income taxes as a result of the Company's intention to indefinitely reinvest the earnings of its international subsidiaries outside of the United States.

⁽²⁾ The net unrealized gains before tax at June 30, 2017 and December 31, 2016 were $734.7 million and $185.9 million, respectively, of which unrealized gains of $633.6 million and $148.5 million, respectively, were exempt from tax in the Netherlands and unrealized gains of $101.1 million and $37.4 million, respectively, were taxable.