Accumulated Other Comprehensive Loss (AOCL) (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Accumulated Other Comprehensive Income (Loss)

The changes in the components of AOCL, net of tax, for the nine months ended September 30, 2023 and 2022 are as follows (in thousands):


	September 30, 2023
	Cumulative Foreign Currency Translation		Unrealized Gains (Losses) on Derivative Instruments		Total Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2022	$	(1,518,640)	$	8,990	$	(1,509,650)
Other comprehensive (loss) income before reclassifications	(16,387)		71,500		55,113
Amounts reclassified from AOCL	120,269		(24,603)		95,666
Tax effect	—		(3,063)		(3,063)
Other comprehensive income, net of tax	103,882		43,834		147,716
Balance at September 30, 2023	$	(1,414,758)	$	52,824	$	(1,361,934)


	September 30, 2022
	Cumulative Foreign Currency Translation		Unrealized (Losses) Gains on Derivative Instruments		Total Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2021	$	(1,441,505)	$	(23,111)	$	(1,464,616)
Other comprehensive (loss) income before reclassifications	(228,666)		30,084		(198,582)
Amounts reclassified from AOCL	—		13,582		13,582
Tax effect	—		(10,829)		(10,829)
Other comprehensive (loss) income, net of tax	(228,666)		32,837		(195,829)
Balance at September 30, 2022	$	(1,670,171)	$	9,726	$	(1,660,445)

Amounts reclassified that relate to foreign currency translation during the nine months ended September 30, 2023 are related to the Company's Russia business disposed of during the quarter ended September 30, 2023. See Note 15 for additional information regarding the Company's disposition of its Russia business.