Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Income (Loss)

12. Accumulated Other Comprehensive Income (Loss)

The following tables summarize changes in AOCI by component, all of which are presented net of tax:

thousands
Balance as of March 31, 2022	$	(6,103)
Other comprehensive income (loss) before reclassifications	5,819
(Gain) loss reclassified from accumulated other comprehensive loss to net income	2,646
Net current-period other comprehensive income (loss)	8,465
Balance as of June 30, 2022	$	2,362
Balance as of March 31, 2021	$	(31,017)
Other comprehensive income (loss) before reclassifications	(1,136)
(Gain) loss reclassified from accumulated other comprehensive loss to net income	3,041
Share of investee's other comprehensive income	1,358
Net current-period other comprehensive income (loss)	3,263
Balance at June 30, 2021	$	(27,754)
thousands
Balance as of December 31, 2021	$	(14,457)
Other comprehensive income (loss) before reclassifications	17,561
(Gain) loss reclassified from accumulated other comprehensive loss to net income	5,981
Reclassification of the Company's share of previously deferred derivative gains to net income (a)	(6,723)
Net current-period other comprehensive Income (loss)	16,819
Balance at June 30, 2022	$	2,362
Balance at December 31, 2020	$	(38,590)
Other comprehensive income (loss) before reclassifications	2,247
(Gain) loss reclassified from accumulated other comprehensive loss to net income	6,014
Share of investee's other comprehensive income	2,575
Net current-period other comprehensive income (loss)	10,836
Balance at June 30, 2021	$	(27,754)

(a)In March 2022, the Company completed the sale of its ownership interest in 110 North Wacker and released a net of $6.7 million from Accumulated other comprehensive income (loss), representing the Company’s $8.6 million share of previously deferred gains associated with the Venture’s derivative instruments net of tax expense of $1.9 million. See Note 2 - Investment in Real Estate and Other Affiliates for additional information.

The following table summarizes the amounts reclassified out of AOCI:

Accumulated Other Comprehensive  Income (Loss) Components	Amounts reclassified from Accumulated other comprehensive income (loss)
	Three Months Ended June 30,				Six Months Ended June 30,				Affected line items in the Statements of Operations
thousands	2022		2021		2022		2021
(Gains) losses on cash flow hedges	$	3,437	$	3,888	$	7,768	$	7,689	Interest expense
Company's share of previously deferred derivative gains	—		—		(8,636)		—		Equity in earnings (losses) from real estate and other affiliates
Income tax expense (benefit)	(791)		(847)		126		(1,675)		Income tax expense (benefit)
Total reclassifications of (income) loss, net of tax	$	2,646	$	3,041	$	(742)	$	6,014