Accumulated Other Comprehensive Loss (AOCL)

3 Months Ended

Mar. 31, 2025

Accumulated Other Comprehensive Loss (AOCL)

The changes in the components of AOCL, net of tax and noncontrolling interest, for the three months ended March 31, 2025 and 2024 are as follows (in thousands):


	March 31, 2025
	Cumulative Foreign Currency Translation		Unrealized (Losses) Gains on Derivative Instruments		Total Accumulated Other Comprehensive Loss Attributable to Corpay
Balance at December 31, 2024	$	(1,749,040)	$	35,044	$	(1,713,996)
Other comprehensive income (loss) before reclassifications	149,113		(55,453)		93,660
Amounts reclassified from AOCL	—		(3,908)		(3,908)
Tax effect	—		18,242		18,242
Other comprehensive income (loss), net of tax	149,113		(41,119)		107,994
Balance at March 31, 2025	$	(1,599,927)	$	(6,075)	$	(1,606,002)


	March 31, 2024
	Cumulative Foreign Currency Translation		Unrealized Gains (Losses) on Derivative Instruments		Total Accumulated Other Comprehensive (Loss) Income Attributable to Corpay
Balance at December 31, 2023	$	(1,258,282)	$	(30,817)	$	(1,289,099)
Other comprehensive (loss) income before reclassifications	(95,870)		72,951		(22,919)
Amounts reclassified from AOCL	—		(12,688)		(12,688)
Tax effect	—		(16,141)		(16,141)
Other comprehensive (loss) income, net of tax	(95,870)		44,122		(51,748)
Balance at March 31, 2024	$	(1,354,152)	$	13,305	$	(1,340,847)

Income tax effects are released from accumulated other comprehensive loss to retained earnings, when applicable, on an individual item basis as those items are reclassified into income. Other comprehensive loss attributable to the Company's noncontrolling interest, which are not included in the tables above, for the three months ended March 31, 2025 and 2024 consisted of foreign currency translation gains of $5.1 million and foreign currency translation losses of $0.2 million, respectively.