Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income

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Accumulated Other Comprehensive Income
12 Months Ended
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income
NOTE 16 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets is net of applicable taxes, and consists of unrealized gains and losses on available-for-sale securities, unrealized gains and losses on certain derivative transactions and foreign currency translation adjustments.

The following tables set forth the changes in Accumulated other comprehensive income (loss):
(in thousands) Available-for-sale securities Derivative transactions Foreign currency
 translation
adjustments
Total
Balance as of December 31, 2020
$ —  $ (9,369) $ 10,175  $ 806 
Other comprehensive income (loss) before reclassifications —  16,113  (24,465) (8,352)
Amounts reclassified from accumulated other comprehensive income (loss) (1)
—  3,170  —  3,170 
Net other comprehensive income (loss) —  19,283  (24,465) (5,182)
Balance as of December 31, 2021
—  9,914  (14,290) (4,376)
Other comprehensive income (loss) before reclassifications (451) 20,724  (38,137) (17,864)
Amounts reclassified from accumulated other comprehensive income (loss) (1)
451  (8,848) —  (8,397)
Net other comprehensive income (loss) —  11,876  (38,137) (26,261)
Balance as of December 31, 2022
$ —  $ 21,790  $ (52,427) $ (30,637)
Other comprehensive income (loss) before reclassifications 145  (849) 2,757  2,053 
Amounts reclassified from accumulated other comprehensive income (loss) (1)
—  (17,252) —  (17,252)
Net other comprehensive income (loss) 145  (18,101) 2,757  (15,199)
Balance as of December 31, 2023
$ 145  $ 3,689  $ (49,670) $ (45,836)
(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income, net on the Consolidated Statements of Operations. Refer to Note 18 for further information regarding reclassifications.