|
NOTE 10. ACCUMULATED OTHER COMPREHENSIVE LOSS
Accumulated other comprehensive loss (“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 March 31, 2025:
|
|
|
|
|
|
|
|
|
|
Foreign Currency Translation Adjustments |
|
Unrealized Gains (Losses) on Cash Flow Hedges |
|
Total |
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2024 |
$ |
(24,858) |
|
$ |
326 |
|
$ |
(24,532) |
Other comprehensive income (loss) before reclassifications |
|
1,717 |
|
|
(687) |
|
|
1,030 |
Amounts reclassified from other comprehensive income (loss) |
|
- |
|
|
(57) |
|
|
(57) |
Net current period other comprehensive income (loss) |
|
1,717 |
|
|
(744) |
|
|
973 |
Balance as of March 31, 2025 |
$ |
(23,141) |
|
$ |
(418) |
|
$ |
(23,559) |
The following table sets forth the changes in AOCI, net of tax, for the three months ended March 31, 2024:
|
|
|
|
|
|
|
|
|
|
Foreign Currency Translation Adjustments |
|
Unrealized Gains (Losses) on Cash Flow Hedges |
|
Total |
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2023 |
$ |
(15,223) |
|
$ |
(191) |
|
$ |
(15,414) |
Other comprehensive (loss) income before reclassifications |
|
(4,035) |
|
|
667 |
|
|
(3,368) |
Amounts reclassified from other comprehensive (loss) income |
|
- |
|
|
(303) |
|
|
(303) |
Net current period other comprehensive (loss) income |
|
(4,035) |
|
|
364 |
|
|
(3,671) |
Balance as of March 31, 2024 |
$ |
(19,258) |
|
$ |
173 |
|
$ |
(19,085) |
The effects on net income of amounts reclassified from unrealized gains on cash flow hedges for foreign exchange contracts for the three months ended March 31, 2025 and 2024, were as follows:
|
|
|
|
|
|
|
Gains reclassified from AOCI to the Consolidated Statements of Comprehensive (Loss) Income |
Affected line item in the Consolidated |
Three Months Ended |
Statements of Comprehensive (Loss) Income |
March 31, 2025 |
|
March 31, 2024 |
Foreign exchange contracts: |
|
|
|
|
|
Sales |
$ |
76 |
|
$ |
81 |
Less: Income tax expense |
|
19 |
|
|
19 |
Amount reclassified, net of tax |
$ |
57 |
|
$ |
62 |
|
|
|
|
|
|
Total reclassifications from AOCI |
$ |
57 |
|
$ |
62 |
|