| Components of Accumulated Other Comprehensive Loss |
Changes in the balances of each component included in accumulated other comprehensive loss (“AOCI”) are presented in the tables below. All amounts are net of tax and exclude non-controlling interest.
|
(In thousands) |
|
Foreign Currency Translation Adjustments |
|
|
Unrealized Net Gains (Losses) on Available for Sale Securities |
|
|
Unrealized Net Gains (Losses) on Interest Rate Swap |
|
|
Unrealized Net Gains (Losses) on Foreign Exchange Contracts |
|
|
Total |
|
|
Balance as of December 31, 2014 (1) |
|
$ |
(2,119 |
) |
|
$ |
140 |
|
|
$ |
- |
|
|
$ |
0 |
|
|
$ |
(1,979 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
|
(2,381 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
191 |
|
|
|
(2,190 |
) |
|
Net losses (gains) reclassified from accumulated
other comprehensive loss |
|
|
0 |
|
|
|
(140 |
) |
|
|
0 |
|
|
|
67 |
|
|
|
(73 |
) |
|
Net other comprehensive (loss) income |
|
|
(2,381 |
) |
|
|
(140 |
) |
|
|
0 |
|
|
|
258 |
|
|
|
(2,263 |
) |
|
Balance as of December 31, 2015 (2) |
|
|
(4,500 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
258 |
|
|
|
(4,242 |
) |
|
Other comprehensive (loss) income before reclassifications |
|
|
(1,528 |
) |
|
|
(56,420 |
) |
|
|
0 |
|
|
|
683 |
|
|
|
(57,265 |
) |
|
Net losses (gains) reclassified from accumulated
other comprehensive loss |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(322 |
) |
|
|
(322 |
) |
|
Net other comprehensive (loss) income |
|
|
(1,528 |
) |
|
|
(56,420 |
) |
|
|
0 |
|
|
|
361 |
|
|
|
(57,587 |
) |
|
Balance as of December 31, 2016 (3) |
|
|
(6,028 |
) |
|
|
(56,420 |
) |
|
|
0 |
|
|
|
619 |
|
|
|
(61,829 |
) |
|
Other comprehensive (loss) income before reclassifications |
|
|
3,352 |
|
|
|
(106,445 |
) |
|
|
0 |
|
|
|
1,697 |
|
|
|
(101,396 |
) |
|
Net losses (gains) reclassified from accumulated
other comprehensive loss |
|
|
0 |
|
|
|
162,865 |
|
|
|
0 |
|
|
|
(1,625 |
) |
|
|
161,240 |
|
|
Net other comprehensive (loss) income |
|
|
3,352 |
|
|
|
56,420 |
|
|
|
0 |
|
|
|
72 |
|
|
|
59,844 |
|
|
Balance as of December 31, 2017 (4) |
|
$ |
(2,676 |
) |
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
691 |
|
|
$ |
(1,985 |
) |
(1) Net of taxes of $88 thousand for unrealized net gains on marketable securities
(2) Net of taxes of $166 thousand for unrealized net gains on marketable securities and foreign exchange contract derivatives
(3) Net of taxes of $463 thousand for unrealized net gains on marketable securities and foreign exchange contract derivatives
(4) Net of taxes of $445 thousand for unrealized net gains on foreign exchange contract derivatives
|
| Income Tax Effects Related to Components of Other Comprehensive Loss |
The following tables reflect the tax effects allocated to each component of other comprehensive loss (“OCI”)
|
|
|
Year Ended December 31, 2017 |
|
|
(In thousands) |
|
Before-Tax Amount |
|
|
Tax Effect |
|
|
Net Amount |
|
|
Foreign currency translation adjustments |
|
$ |
3,352 |
|
|
$ |
0 |
|
|
$ |
3,352 |
|
|
Available for sale securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain arising during the period |
|
|
(106,506 |
) |
|
|
61 |
|
|
|
(106,445 |
) |
|
Net gain reclassified into income |
|
|
162,865 |
|
|
|
0 |
|
|
|
162,865 |
|
|
Net change in unrealized gains on available for sale securities |
|
|
56,359 |
|
|
|
61 |
|
|
|
56,420 |
|
|
Derivatives qualifying as cash flow hedges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange contracts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gains (losses) arising during the period |
|
|
2,776 |
|
|
|
(1,079 |
) |
|
|
1,697 |
|
|
Net (gains) losses reclassified into income |
|
|
(2,662 |
) |
|
|
1,037 |
|
|
|
(1,625 |
) |
|
Net change in unrealized gains (losses) on foreign exchange contracts |
|
|
114 |
|
|
|
(42 |
) |
|
|
72 |
|
|
Net gain (loss) on cash flow hedges |
|
|
114 |
|
|
|
(42 |
) |
|
|
72 |
|
|
Other comprehensive loss |
|
$ |
59,825 |
|
|
$ |
19 |
|
|
$ |
59,844 |
|
|
|
|
Year Ended December 31, 2016 |
|
|
(In thousands) |
|
Before-Tax Amount |
|
|
Tax Effect |
|
|
Net Amount |
|
|
Foreign currency translation adjustments |
|
$ |
(1,528 |
) |
|
$ |
0 |
|
|
$ |
(1,528 |
) |
|
Available for sale securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain arising during the period |
|
|
(56,359 |
) |
|
|
(61 |
) |
|
|
(56,420 |
) |
|
Net gain reclassified into income |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
Net change in unrealized gains on available for sale securities |
|
|
(56,359 |
) |
|
|
(61 |
) |
|
|
(56,420 |
) |
|
Derivatives qualifying as cash flow hedges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange contracts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gains (losses) arising during the period |
|
|
1,128 |
|
|
|
(445 |
) |
|
|
683 |
|
|
Net (gains) losses reclassified into income |
|
|
(531 |
) |
|
|
209 |
|
|
|
(322 |
) |
|
Net change in unrealized gains (losses) on foreign exchange contracts |
|
|
597 |
|
|
|
(236 |
) |
|
|
361 |
|
|
Net gain (loss) on cash flow hedges |
|
|
597 |
|
|
|
(236 |
) |
|
|
361 |
|
|
Other comprehensive loss |
|
$ |
(57,290 |
) |
|
$ |
(297 |
) |
|
$ |
(57,587 |
) |
|
|
|
Year Ended December 31, 2015 |
|
|
(In thousands) |
|
Before-Tax Amount |
|
|
Tax Effect |
|
|
Net Amount |
|
|
Foreign currency translation adjustments |
|
$ |
(2,381 |
) |
|
$ |
0 |
|
|
$ |
(2,381 |
) |
|
Available for sale securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain arising during the period |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
Net gain reclassified into income |
|
|
(228 |
) |
|
|
88 |
|
|
|
(140 |
) |
|
Net change in unrealized gains on available for sale securities |
|
|
(228 |
) |
|
|
88 |
|
|
|
(140 |
) |
|
Derivatives qualifying as cash flow hedges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss arising during the period |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
Net loss reclassified into income |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
Net change in unrealized losses on interest rate swap |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
Foreign exchange contracts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gains (losses) arising during the period |
|
|
314 |
|
|
|
(123 |
) |
|
|
191 |
|
|
Net (gains) losses reclassified into income |
|
|
110 |
|
|
|
(43 |
) |
|
|
67 |
|
|
Net change in unrealized gains (losses) on foreign exchange contracts |
|
|
424 |
|
|
|
(166 |
) |
|
|
258 |
|
|
Net gain (loss) on cash flow hedges |
|
|
424 |
|
|
|
(166 |
) |
|
|
258 |
|
|
Other comprehensive loss |
|
$ |
(2,185 |
) |
|
$ |
(78 |
) |
|
$ |
(2,263 |
) |
|