Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.21.2
Accumulated Other Comprehensive Income
6 Months Ended
Jun. 30, 2021
Accumulated Other Comprehensive Income [Abstract]  
Accumulated Other Comprehensive Income NOTE 8. ACCUMULATED OTHER COMPREHENSIVE INCOME

Accumulated other comprehensive income (“AOCI”) primarily consists of foreign currency translation adjustments and changes in our forward foreign exchange contracts. The following table sets forth the changes in AOCI, net of tax, for the three months ended June 30, 2021:

Foreign Currency Translation Adjustments

Unrealized Gains (Losses) on Cash Flow Hedges

Total

Balance as of March 31, 2021

$

464

$

(84)

$

380

Other comprehensive income (loss) before reclassifications

295

(215)

80

Amounts reclassified from other comprehensive income

-

323

323

Net current period other comprehensive income

295

108

403

Balance as of June 30, 2021

$

759

$

24

$

783

The following table sets forth the changes in AOCI, net of tax, for the three months ended June 30, 2020:

Foreign Currency Translation Adjustments

Unrealized Gains (Losses) on Cash Flow Hedges

Total

Balance as of March 31, 2020

$

(687)

$

796

$

109

Other comprehensive income (loss) before reclassifications

367

(326)

41

Amounts reclassified from other comprehensive income

-

(223)

(223)

Net current period other comprehensive income (loss)

367

(549)

(182)

Balance as of June 30, 2020

$

(320)

$

247

$

(73)

The following table sets forth the changes in AOCI, net of tax, for the six months ended June 30, 2021:

Foreign Currency Translation Adjustments

Unrealized Gains (Losses) on Cash Flow Hedges

Total

Balance as of December 31, 2020

$

1,480

$

(980)

$

500

Other comprehensive (loss) income before reclassifications

(721)

435

(286)

Amounts reclassified from other comprehensive income

-

569

569

Net current period other comprehensive (loss) income

(721)

1,004

283

Balance as of June 30, 2021

$

759

$

24

$

783

The following table sets forth the changes in AOCI, net of tax, for the six months ended June 30, 2020:

Foreign Currency Translation Adjustments

Unrealized Gains (Losses) on Cash Flow Hedges

Total

Balance as of December 31, 2019

$

(286)

$

(17)

$

(303)

Other comprehensive (loss) income before reclassifications

(34)

706

672

Amounts reclassified from other comprehensive loss

-

(442)

(442)

Net current period other comprehensive (loss) income

(34)

264

230

Balance as of June 30, 2020

$

(320)

$

247

$

(73)

The effects on net income of amounts reclassified from unrealized gains on cash flow hedges for foreign exchange contracts for the three and six months ended June 30, 2021 and 2020, were as follows:

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

Affected line item in the Consolidated

Three Months Ended

Six Months Ended

Statements of Comprehensive Income (Loss)

June 30, 2021

June 30, 2020

June 30, 2021

June 30, 2020

Foreign exchange contracts:

Sales

$

(422)

$

294

$

(743)

$

582

Less: Income tax (benefit) expense

(99)

71

(174)

140

Amount reclassified, net of tax

$

(323)

$

223

$

(569)

$

442

Total reclassifications from AOCI

$

(323)

$

223

$

(569)

$

442