Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Dec. 31, 2020

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

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The table below summarizes the components of Accumulated other comprehensive income (loss), net of income tax expense (benefit):

	Three Months Ended December 31,
	2020		2019
Beginning Balance	$	(14,104)	$	(23,238)
Foreign currency translation adjustment	21,543		15,819
Income tax benefit	82		32
Foreign currency translation adjustment, net of tax	21,625		15,851
Unrealized gain loss on cash flow hedges:
Change in fair value	(6,449)		4,314
Reclassification adjustment into earnings	3,374		1,170
Income tax benefit (expense)	689		(1,225)
Unrealized (loss) gain on cash flow hedges, net of tax	(2,386)		4,259
Effect of the adoption of the stranded tax effect accounting standard	—		(497)
Income tax benefit	—		9
Effect of the adoption of the stranded tax effect accounting standard, net of tax	—		(488)
Net Change	19,239		19,622
Ending Balance	$	5,135	$	(3,616)

During the first quarter of fiscal 2020, the Company adopted ASU No. 2018-02 regarding the reclassification of stranded tax effects resulting from the change in the U.S. federal corporate income tax rate under the Tax Cuts and Jobs Act (the “Tax Act”) and as a result, we reclassified $488 of stranded tax effects from Accumulated other comprehensive income to Retained earnings.