Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2022

12. Accumulated Other Comprehensive Income

Other comprehensive income (loss) consists of two components: unrealized gains or losses on the Company’s available-for-sale marketable investments and gains or losses from foreign currency translation adjustments. Until realized and reported as a component of consolidated net income (loss), these comprehensive income (loss) items accumulate and are included within accumulated other comprehensive income. Unrealized gains and losses on the Company’s marketable investments are reclassified from accumulated other comprehensive income into earnings when realized upon sale, and are determined based on specific identification of securities sold. Gains and losses from the translation of assets and liabilities denominated in non-U.S. dollar functional currencies are included in accumulated other comprehensive income.

The following table summarizes the changes in the accumulated balances during the period and includes information regarding the manner in which the reclassifications out of accumulated other comprehensive income into earnings affect the Company’s condensed consolidated statements of operations and condensed consolidated statements of comprehensive (loss) income (in thousands):


	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
	Marketable Investments		Currency Translation Adjustments		Total		Marketable Investments		Currency Translation Adjustments		Total
Balance, beginning of the period	$	(595)	$	(2,035)	$	(2,630)	$	647	$	1,894	$	2,541
Other comprehensive (loss) income before reclassifications:
Unrealized (loss) — marketable investments	(2,474)		—		(2,474)		(353)		—		(353)
Foreign currency translation (losses) gains	—		(868)		(868)		—		(2,695)		(2,695)
Income tax effect — expense	—		—		—		82		—		82
Net of tax	(2,474)		(868)		(3,342)		(271)		(2,695)		(2,966)
Amounts reclassified from accumulated other comprehensive income (loss) to consolidated net (loss) income:
Realized gain (loss) — marketable investments	—		—		—		—		—		—
Income tax effect — expense (benefit)	—		—		—		—		—		—
Net of tax	—		—		—		—		—		—
Net current-year other comprehensive (loss) income	(2,474)		(868)		(3,342)		(271)		(2,695)		(2,966)
Balance, end of the period	$	(3,069)	$	(2,903)	$	(5,972)	$	376	$	(801)	$	(425)