Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.23.3
Accumulated Other Comprehensive Income
9 Months Ended
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income
NOTE 8 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) on the unaudited Condensed 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) Derivative transactions Foreign currency
 translation
adjustments
Total
Balance as of June 30, 2023
$ 15,643  $ (56,975) $ (41,332)
Other comprehensive income (loss) before reclassifications 9,876  (9,659) 217 
Amounts reclassified from accumulated other comprehensive income (loss) (1)
(6,283) —  (6,283)
Net other comprehensive income (loss) during the period 3,593  (9,659) (6,066)
Balance as of September 30, 2023
$ 19,236  $ (66,634) $ (47,398)
(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income (expense), net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 10 for further information regarding reclassifications.
(in thousands) Derivative transactions Foreign currency
 translation
adjustments
Total
Balance as of June 30, 2022
$ 23,631  $ (45,364) $ (21,733)
Other comprehensive income (loss) before reclassifications 17,191  (30,058) (12,867)
Amounts reclassified from accumulated other comprehensive income (loss) (1)
(2,970) —  (2,970)
Net other comprehensive income (loss) during the period 14,221  (30,058) (15,837)
Balance as of September 30, 2022
$ 37,852  $ (75,422) $ (37,570)
(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income (expense), net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 10 for further information regarding reclassifications.
(in thousands) Derivative transactions Foreign currency
 translation
adjustments
Total
Balance as of December 31, 2022
$ 21,790  $ (52,427) $ (30,637)
Other comprehensive income (loss) before reclassifications 10,602  (14,207) (3,605)
Amounts reclassified from accumulated other comprehensive income (loss) (1)
(13,156) —  (13,156)
Net other comprehensive income (loss) during the period (2,554) (14,207) (16,761)
Balance as of September 30, 2023
$ 19,236  $ (66,634) $ (47,398)
(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income (expense), net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 10 for further information regarding reclassifications.

(in thousands) Available-for-
sale securities
Derivative transactions Foreign currency
 translation
adjustments
Total
Balance as of December 31, 2021
$ —  $ 9,914  $ (14,290) $ (4,376)
Other comprehensive income (loss) before reclassifications (451) 31,780  (61,132) (29,803)
Amounts reclassified from accumulated other comprehensive income (loss) (1)
451  (3,842) —  (3,391)
Net other comprehensive income (loss) during the period —  27,938  (61,132) (33,194)
Balance as of September 30, 2022
$ —  $ 37,852  $ (75,422) $ (37,570)
(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income (expense), net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 10 for further information regarding reclassifications.