Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income

v3.20.4
Accumulated Other Comprehensive Income
12 Months Ended
Dec. 31, 2020
Accumulated Other Comprehensive Income [Abstract]  
Accumulated Other Comprehensive Income NOTE 8. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) (“AOCI”) primarily consists of foreign currency translation adjustments and changes in our forward foreign exchange contracts. The components of AOCI, net of tax, were as follows:

Foreign Currency Translation Adjustments

Unrealized Gains (Losses) on Cash Flow Hedges

Total

Balance as of December 31, 2019

$

(286)

$

(17)

$

(303)

Other comprehensive income (loss) before reclassifications

1,766

(1,069)

697

Amounts reclassified from other comprehensive income (loss)

-

106

106

Net current period other comprehensive income (loss)

1,766

(963)

803

Balance as of December 31, 2020

$

1,480

$

(980)

$

500

Foreign Currency Translation Adjustments

Unrealized Gains (Losses) on Cash Flow Hedges

Total

Balance as of December 31, 2018

$

73

$

404

$

477

Other comprehensive income (loss) before reclassifications

(359)

487

128

Amounts reclassified from other comprehensive income (loss)

-

(908)

(908)

Net current period other comprehensive loss

(359)

(421)

(780)

Balance as of December 31, 2019

$

(286)

$

(17)

$

(303)

The effects on net income of amounts reclassified from unrealized gains (losses) on cash flow hedges for foreign exchange contracts and foreign currency translation adjustments for the years ended December 31, 2020 and 2019 were as follows:

Gains (losses) reclassified from AOCI to the Consolidated Statements of Comprehensive Income

Affected line item in the Consolidated

Twelve Months Ended

Statements of Comprehensive Income

December 31, 2020

December 31, 2019

Foreign exchange contracts:

Sales

$

(139)

$

1,017

Less: Income tax (benefit) expense

(33)

109

Amount reclassified, net of tax

$

(106)

$

908

Total reclassifications from AOCI

$

(106)

$

908

The Company’s policy is to classify reclassifications of cumulative foreign currency translation from AOCI to Other, net.