Quarterly report [Sections 13 or 15(d)]

ACCUMULATED OTHER COMPREHENSIVE LOSS

v3.25.2
ACCUMULATED OTHER COMPREHENSIVE LOSS
6 Months Ended
Jun. 30, 2025
ACCUMULATED OTHER COMPREHENSIVE LOSS  
ACCUMULATED OTHER COMPREHENSIVE LOSS

NOTE 11. 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 June 30, 2025:

Foreign Currency Translation Adjustments

    

Unrealized Gains (Losses) on Cash Flow Hedges

    

Total

Balance as of March 31, 2025

$

(23,141)

$

(418)

$

(23,559)

Other comprehensive income (loss) before reclassifications

4,677

(1,386)

3,291

Amounts reclassified from other comprehensive income (loss)

-

379

379

Net current period other comprehensive income (loss)

4,677

(1,007)

3,670

Balance as of June 30, 2025

$

(18,464)

$

(1,425)

$

(19,889)

The following table sets forth the changes in AOCI, net of tax, for the three months ended June 30, 2024:

Foreign Currency Translation Adjustments

    

Unrealized Gains (Losses) on Cash Flow Hedges

    

Total

Balance as of March 31, 2024

$

(19,258)

$

173

$

(19,085)

Other comprehensive income before reclassifications

1,537

(128)

1,409

Amounts reclassified from other comprehensive loss

-

136

136

Net current period other comprehensive income

1,537

8

1,545

Balance as of June 30, 2024

$

(17,721)

$

181

$

(17,540)

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

6,394

(2,073)

4,321

Amounts reclassified from other comprehensive income (loss)

-

322

322

Net current period other comprehensive income (loss)

6,394

(1,751)

4,643

Balance as of June 30, 2025

$

(18,464)

$

(1,425)

$

(19,889)

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

(2,498)

539

(1,959)

Amounts reclassified from other comprehensive loss

-

(167)

(167)

Net current period other comprehensive (loss) income

(2,498)

372

(2,126)

Balance as of June 30, 2024

$

(17,721)

$

181

$

(17,540)

The effects on net income of amounts reclassified from unrealized gains (losses) on cash flow hedges for foreign exchange contracts for the three and six months ended June 30, 2025 and 2024, were as follows:

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

Affected line item in the Consolidated

Three Months Ended

Six Months Ended

Statements of Comprehensive (Loss) Income

June 30, 2025

    

June 30, 2024

    

June 30, 2025

    

June 30, 2024

Foreign exchange contracts:

Sales

$

(503)

$

136

$

(427)

$

217

Less: Income tax (benefit) expense

(124)

31

(105)

50

Amount reclassified, net of tax

$

(379)

$

105

$

(322)

$

167

Total reclassifications from AOCI

$

(379)

$

105

$

(322)

$

167