| Accumulated Other Comprehensive Income |
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| 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):
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| (in thousands) |
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Available-for-sale securities |
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Derivative transactions |
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Foreign currency
translation
adjustments |
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Total |
Balance as of December 31, 2020 |
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$ |
— |
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$ |
(9,369) |
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$ |
10,175 |
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$ |
806 |
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| Other comprehensive income (loss) before reclassifications |
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— |
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16,113 |
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(24,465) |
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(8,352) |
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Amounts reclassified from accumulated other comprehensive income (loss) (1)
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— |
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3,170 |
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— |
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3,170 |
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| Net other comprehensive income (loss) |
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— |
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19,283 |
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(24,465) |
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(5,182) |
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Balance as of December 31, 2021 |
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— |
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9,914 |
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(14,290) |
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(4,376) |
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| Other comprehensive income (loss) before reclassifications |
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(451) |
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20,724 |
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(38,137) |
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(17,864) |
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Amounts reclassified from accumulated other comprehensive income (loss) (1)
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451 |
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(8,848) |
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— |
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(8,397) |
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| Net other comprehensive income (loss) |
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— |
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11,876 |
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(38,137) |
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(26,261) |
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Balance as of December 31, 2022 |
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$ |
— |
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$ |
21,790 |
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$ |
(52,427) |
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$ |
(30,637) |
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| Other comprehensive income (loss) before reclassifications |
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145 |
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(849) |
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2,757 |
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2,053 |
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Amounts reclassified from accumulated other comprehensive income (loss) (1)
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— |
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(17,252) |
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— |
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(17,252) |
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| Net other comprehensive income (loss) |
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145 |
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(18,101) |
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2,757 |
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(15,199) |
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Balance as of December 31, 2023 |
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$ |
145 |
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$ |
3,689 |
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$ |
(49,670) |
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$ |
(45,836) |
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(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.
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