| Accumulated Other Comprehensive Income |
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| NOTE 15 — 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, 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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| Other comprehensive income (loss) before reclassifications |
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84 |
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31,252 |
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(37,030) |
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(5,694) |
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Amounts reclassified from accumulated other comprehensive income (loss) (1)
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(145) |
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(11,547) |
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— |
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(11,692) |
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| Net other comprehensive income (loss) |
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(61) |
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19,705 |
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(37,030) |
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(17,386) |
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Balance as of December 31, 2024 |
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$ |
84 |
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$ |
23,394 |
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$ |
(86,700) |
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$ |
(63,222) |
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(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income (expense), net on the Consolidated Statements of Operations. Refer to Note 17 for further information regarding reclassifications.
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