Accumulated Other Comprehensive (Loss) Income

12 Months Ended

Dec. 31, 2022

Accumulated Other Comprehensive (Loss) Income

The following table summarizes the changes in accumulated balances for each component of other comprehensive (loss) income for the year ended December 31, 2022, net of taxes (in thousands):


					Net Unrealized Gain (Loss) on Derivatives
	Cumulative Translation Adjustments		Net Unrealized (Loss) on Available-for-sale Debt Securities		Foreign Currency			Interest Rate Swaps			Total Cash Flow Hedges		Total
Beginning balance as of December 31, 2021	$	20,232	$	—	$	1,018		$	(4,099)		$	(3,081)	$	17,151
Other comprehensive (loss) income:
Other comprehensive (loss) income before reclassifications, net of tax benefit (expense) of $548, $56, $1,359 and, $(2,472)	(65,667)		(171)		(4,154)			7,533			3,379		(62,459)
Net (gain) loss reclassified from accumulated other comprehensive (loss) income, net of tax benefit (expense) of $—, $—, $350 and $(1,124)	—		—		1,071		(i)	(3,434)		(ii)	(2,363)		(2,363)
Total other comprehensive (loss) income, net of tax effect(iii)	(65,667)		(171)		(3,083)			4,099			1,016		(64,822)
Ending balance as of December 31, 2022	$	(45,435)	$	(171)	$	(2,065)		$	—		$	(2,065)	$	(47,671)

(i)The before-tax loss of $(316)and $(1,105) were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the consolidated statements of operations.

(ii)The before-tax gain of $4,558 was included in interest expense on the consolidated statements of operations.

(iii)The tax benefit (expense) related to the net gain (loss) reclassified from accumulated other comprehensive (loss) income was included in income tax provision on the consolidated statements of operations.

The following table summarizes the changes in accumulated balances for each component of other comprehensive income (loss) for the year ended December 31, 2021, net of taxes (in thousands):


			Net Unrealized Gain (Loss) on Derivatives
	Cumulative Translation Adjustments		Foreign Currency			Interest Rate Swaps			Total Cash Flow Hedges		Total
Beginning balance as of December 31, 2020	$	63,711	$	1,643		$	(22,059)		$	(20,416)	$	43,295
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications, net of tax expense of $(165), $(618) and $(544)	(43,479)		1,864			1,912			3,776		(39,703)
Net (gain) loss reclassified from accumulated other comprehensive income (loss), net of tax (expense) benefit of $—, $(818) and $5,275	—		(2,489)		(i)	16,048		(ii)	13,559		13,559
Total other comprehensive income (loss), net of tax effect (iii)	(43,479)		(625)			17,960			17,335		(26,144)
Ending balance as of December 31, 2021	$	20,232	$	1,018		$	(4,099)		$	(3,081)	$	17,151

(i)The before-tax gain of $629 and $2,678 were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the consolidated statements of operations.

(ii)The before-tax loss of $(21,323) was included in interest expense on the consolidated statements of operations.

(iii)The tax benefit (expense) related to the net gain (loss) reclassified from accumulated other comprehensive income was included in income tax provision on the consolidated statements of operations.

The following table summarizes the changes in accumulated balances for each component of other comprehensive income (loss) for the year ended December 31, 2020, net of taxes (in thousands):


			Net Unrealized Gain (Loss) on Derivatives
	Cumulative Translation Adjustments		Foreign Currency			Interest Rate Swaps			Total Cash Flow Hedges		Total
Beginning balance as of December 31, 2019	$	18,224	$	232		$	(13,147)		$	(12,915)	$	5,309
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications, net of tax benefit (expense) of $(415), $(290) and $7,933	45,487		893			(24,434)			(23,541)		21,946
Net loss reclassified from accumulated other comprehensive income (loss), net of tax benefit of $—, $169 and $5,042	—		518		(i)	15,522		(ii)	16,040		16,040
Total other comprehensive income (loss), net of tax effect(iii)	45,487		1,411			(8,912)			(7,501)		37,986
Ending balance as of December 31, 2020	$	63,711	$	1,643		$	(22,059)		$	(20,416)	$	43,295

(i)The before-tax losses of $(147) and $(540) were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the consolidated statements of operations.

(ii)The before-tax loss of $(20,564) was included in interest expense on the consolidated statements of operations.

See Note 5. Fair Value Measurements, Note 12. Derivative Financial Instruments and Note 19. Commitments and Contingencies of the Notes to Consolidated Financial Statements of this Report for a further discussion.