Accumulated Other Comprehensive Loss (AOCL)

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Loss (AOCL)

The changes in the components of AOCL, net of tax, for the years ended December 31, 2023, 2022 and 2021 are as follows (in thousands):


	Cumulative Foreign Currency Translation		Unrealized (Losses) Gains on Derivative Instruments		Total Accumulated Other Comprehensive (Loss) Income

Balance at December 31, 2020	$	(1,296,962)	$	(66,196)	$	(1,363,158)
Other comprehensive (loss) income before reclassifications	(144,543)		7,394		(137,149)
Amounts reclassified from AOCL	—		49,747		49,747
Tax effect	—		(14,056)		(14,056)
Other comprehensive (loss) income, net of tax	(144,543)		43,085		(101,458)
Balance at December 31, 2021	(1,441,505)		(23,111)		(1,464,616)
Other comprehensive (loss) income before reclassifications	(77,135)		31,853		(45,282)
Amounts reclassified from AOCL	—		10,835		10,835
Tax effect	—		(10,587)		(10,587)
Other comprehensive (loss) income, net of tax	(77,135)		32,101		(45,034)
Balance at December 31, 2022	(1,518,640)		8,990		(1,509,650)
Other comprehensive income (loss) before reclassifications	140,089		(14,984)		125,105
Amounts reclassified from AOCL	120,269		(39,401)		80,868
Tax effect	—		14,578		14,578
Other comprehensive income (loss), net of tax	260,358		(39,807)		220,551
Balance at December 31, 2023	$	(1,258,282)	$	(30,817)	$	(1,289,099)

Amounts reclassified from AOCL that relate to foreign currency translation during the year ended December 31, 2023 are related to the Company's Russia business disposed of during the third quarter of 2023. See Note 19 for additional information regarding the Company's disposition of its Russia business.