Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Loss

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 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, 2022	$	(17,628)	$	(57)	$	(17,685)
Other comprehensive income before reclassifications		2,405		169		2,574
Amounts reclassified from other comprehensive income		-		(303)		(303)
Net current period other comprehensive income (loss)		2,405		(134)		2,271
Balance as of December 31, 2023	$	(15,223)	$	(191)	$	(15,414)


	Foreign Currency Translation Adjustments		Unrealized Gains (Losses) on Cash Flow Hedges		Total

Balance as of December 31, 2021	$	(5,241)	$	191	$	(5,050)
Other comprehensive (loss) income before reclassifications		(12,387)		2,163		(10,224)
Amounts reclassified from other comprehensive (loss) income		-		(2,411)		(2,411)
Net current period other comprehensive loss		(12,387)		(248)		(12,635)
Balance as of December 31, 2022	$	(17,628)	$	(57)	$	(17,685)

The effects on net (loss) 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, 2023 and 2022 were as follows:


	Gains reclassified from AOCI to the Consolidated Statements of Comprehensive Loss
Affected line item in the Consolidated	Twelve Months Ended
Statements of Comprehensive Loss	December 31, 2023		December 31, 2022
Foreign exchange contracts:
Sales	$	393	$	3,124
Less: Income tax expense		90		713
Amount reclassified, net of tax	$	303	$	2,411

Total reclassifications from AOCI	$	303	$	2,411

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