Schedule of accumulated other comprehensive income (loss) |
The following table presents the changes in Other Comprehensive Income for the years ended December 31, 2023 and 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2023 | (in thousands) | | AOCI Beginning Balance | | Amounts recorded in AOCI | | Amounts reclassified from AOCI to income | | AOCI Ending Balance | Net change in unrealized cash flow hedges gains (losses) (1) | | $ | 44,925 | | | $ | 8,798 | | | $ | (30,307) | | | $ | 23,416 | | Foreign exchange translation adjustment | | (13,321) | | | 6,952 | | | — | | | (6,369) | | Total | | $ | 31,604 | | | $ | 15,750 | | | $ | (30,307) | | | $ | 17,047 | | (1) Amounts reclassified from AOCI to income are included within Financing interest expense on long-term borrowings on the Consolidated Statements of Comprehensive Income. As of December 31, 2023, the Company expects approximately $33.3 million to be reclassified from AOCI into earnings over the next 12 months. The timing of the reclassification is based on the interest payment schedule of the long-term borrowings. | | | | | | | | | | | | Year Ended December 31, 2022 | (in thousands) | | AOCI Beginning Balance | | Amounts recorded in AOCI | | Amounts reclassified from AOCI to income | | AOCI Ending Balance | Net change in unrealized cash flow hedges gains (losses) (1) | | $ | (10,480) | | | $ | 55,955 | | | $ | (550) | | | $ | 44,925 | | Foreign exchange translation adjustment | | 284 | | | (13,605) | | | — | | | (13,321) | | Total | | $ | (10,196) | | | $ | 42,350 | | | $ | (550) | | | $ | 31,604 | | (1) Amounts reclassified from AOCI to income are included within Financing interest expense on long-term borrowings on the Consolidated Statements of Comprehensive Income. | | | Year Ended December 31, 2021 | (in thousands) | | AOCI Beginning Balance | | Amounts recorded in AOCI | | Amounts reclassified from AOCI to income | | AOCI Ending Balance | Net change in unrealized cash flow hedges gains (losses) (1) | | $ | (33,444) | | | $ | 8,374 | | | $ | 14,590 | | | $ | (10,480) | | Foreign exchange translation adjustment | | 7,957 | | | (7,673) | | | — | | | 284 | | Total | | $ | (25,487) | | | $ | 701 | | | $ | 14,590 | | | $ | (10,196) | | (1) Amounts reclassified from AOCI to income are included within Financing interest expense on long-term borrowings on the Consolidated Statements of Comprehensive Income. |
|