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ACCUMULATED OTHER COMPREHENSIVE INCOME | 12 Months Ended
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Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE INCOME | ACCUMULATED OTHER COMPREHENSIVE INCOME The changes in AOCI, net of tax, consisted of the following:
|  | For the Years Ended December 31, 2023 and 2022
|  |  |  | Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax |  | Unrealized Gain (Loss) on Net Investment Hedges, Net of Tax |  |  |  |  |  |
(in thousands) |  | Unrealized (Loss) Gain on Investments, Net of Tax |  | Foreign Currency Exchange Contracts |  | Interest Rate Swap |  | Euro-Denominated Notes |  | Cross Currency Swaps |  | Defined Benefit Plans, Net of Tax |  | Cumulative Translation Adjustment |  | Total
Balance as of December 31, 2021 |  | $ | (126) |  |  | $ | 4,979 |  |  | $ | — |  |  | $ | 422 |  |  | $ | 3,240 |  |  | $ | — |  |  | $ | (61,999) |  |  | $ | (53,484) |
Other comprehensive (loss) income before reclassifications |  | (46) |  |  | 14,851 |  |  | — |  |  | 4,525 |  |  | 3,817 |  |  | (3,282) |  |  | (25,692) |  |  | (5,827) |
Amounts reclassified from accumulated other comprehensive income |  | — |  |  | (18,991) |  |  | — |  |  | — |  |  | — |  |  | 506 |  |  | — |  |  | (18,485) |
Balance as of December 31, 2022 |  | (172) |  |  | 839 |  |  | — |  |  | 4,947 |  |  | 7,057 |  |  | (2,776) |  |  | (87,691) |  |  | (77,796) |
Other comprehensive income (loss) before reclassifications |  | 8 |  |  | (792) |  |  | 3,131 |  |  | (2,601) |  |  | (5,629) |  |  | (1,302) |  |  | 17,725 |  |  | 10,540 |
Amounts reclassified from accumulated other comprehensive income |  | — |  |  | (2,444) |  |  | (2,025) |  |  | — |  |  | — |  |  | 519 |  |  | — |  |  | (3,950) |
Balance as of December 31, 2023 |  | $ | (164) |  |  | $ | (2,397) |  |  | $ | 1,106 |  |  | $ | 2,346 |  |  | $ | 1,428 |  |  | $ | (3,559) |  |  | $ | (69,966) |  |  | $ | (71,206) |
The following table presents components and amounts reclassified out of AOCI to net income:
(in thousands) |  | Affected Line Item in the Statements of Income |  | Amounts Reclassified from AOCI for the Years Ended December 31,
|  |  |  | 2023 |  | 2022 |  | 2021
Foreign currency exchange contracts |  | Cost of revenue |  | $ | 3,512 |  |  | $ | 25,733 |  |  | $ | (7,121) |
|  | Tax (expense) benefit |  | (1,068) |  |  | (6,742) |  |  | 1,347 |
|  | Gains (losses), net of tax |  | $ | 2,444 |  |  | $ | 18,991 |  |  | $ | (5,774) |
Interest rate swap contract |  | Interest expense |  | $ | 2,656 |  |  | $ | — |  |  | $ | — |
|  | Tax (expense) |  | (631) |  |  | — |  |  | — |
|  | Gain, net of tax |  | $ | 2,025 |  |  | $ | — |  |  | $ | — |
Defined benefit plans |  | Cost of revenue and operating expenses |  | $ | (630) |  |  | $ | (605) |  |  | $ | — |
|  | Tax benefit |  | 111 |  |  | 99 |  |  | — |
|  | (Losses), net of tax |  | $ | (519) |  |  | $ | (506) |  |  | $ | — |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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