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:
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:
The Company’s policy is to classify reclassifications of cumulative foreign currency translation from AOCI to Other, net.
The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef