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Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2020

Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss)

17.OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) includes changes in the fair value of interest rate swaps that qualify for hedge accounting. The components of other comprehensive income (loss) and related tax effects for the three and nine months ended September 30, 2020 and 2019 are as follows:

​

​	​	​	​	​	​	​	​	​	​
​		Three Months Ended September 30, 2020
​		Gross			Tax Effect			Net of Tax
Interest rate swap amounts reclassified into interest expense	​	$	2,893	​	$	(767)	​	$	2,126
Changes in fair value of interest rate swaps	​		1,846	​		(489)	​		1,357
Foreign currency translation adjustment	​		45,886	​		—	​		45,886
​	​	$	50,625	​	$	(1,256)	​	$	49,369

​

​	​	​	​	​	​	​	​	​	​
​		Three Months Ended September 30, 2019
​		Gross			Tax Effect			Net of Tax
Interest rate swap amounts reclassified into interest expense	​	$	(1,974)	​	$	523	​	$	(1,451)
Changes in fair value of interest rate swaps	​		(15,482)	​		4,103	​		(11,379)
Foreign currency translation adjustment	​		(24,911)	​		—	​		(24,911)
​	​	$	(42,367)	​	$	4,626	​	$	(37,741)

​

​	​	​	​	​	​	​	​	​	​
​		Nine Months Ended September 30, 2020
​		Gross			Tax Effect			Net of Tax
Interest rate swap amounts reclassified into interest expense	​	$	4,595	​	$	(1,218)	​	$	3,377
Changes in fair value of interest rate swaps	​		(68,047)	​		18,033	​		(50,014)
Foreign currency translation adjustment	​		(55,738)	​		—	​		(55,738)
​	​	$	(119,190)	​	$	16,815	​	$	(102,375)

​

​	​	​	​	​	​	​	​	​	​
​	​	Nine Months Ended September 30, 2019
​		Gross			Tax Effect			Net of Tax
Interest rate swap amounts reclassified into interest expense	​	$	(6,918)	​	$	1,833	​	$	(5,085)
Changes in fair value of interest rate swaps	​		(56,818)	​		15,057	​		(41,761)
Foreign currency translation adjustment	​		60,404	​		—	​		60,404
​	​	$	(3,332)	​	$	16,890	​	$	13,558

​

A rollforward of the amounts included in AOCIL, net of taxes, for the nine months ended September 30, 2020 and 2019, is as follows:

​

​	​	​	​	​	​	​	​	​	​
​		​	​		Foreign			Accumulated
​	​	​	​	​	Currency		​	Other
​	​	Interest		​	Translation		​	Comprehensive
​	​	Rate Swaps		​	Adjustment		​	Income (Loss)
Balance at December 31, 2019	​	$	(29,255)	​	$	18,292	​	$	(10,963)
Amounts reclassified into earnings	​	​	3,377	​	​	—	​	​	3,377
Changes in fair value	​	​	(50,014)	​	​	—	​	​	(50,014)
Foreign currency translation adjustment	​	​	—	​	​	(55,738)	​	​	(55,738)
Balance at September 30, 2020	​	$	(75,892)	​	$	(37,446)	​	$	(113,338)

​

​	​	​	​	​	​	​	​	​	​
​		​	​		Foreign			Accumulated
​	​	​	​	​	Currency		​	Other
​	​	Interest		​	Translation		​	Comprehensive
​	​	Rate Swaps		​	Adjustment		​	Income (Loss)
Balance at December 31, 2018	​	$	8,892	​	$	(83,678)	​	$	(74,786)
Amounts reclassified into earnings	​		(5,085)	​		—	​		(5,085)
Changes in fair value	​		(41,761)	​		—	​		(41,761)
Foreign currency translation adjustment	​		—	​		60,404	​		60,404
Balance at September 30, 2019	​	$	(37,954)	​	$	(23,274)	​	$	(61,228)

​

See Note 13 for further discussion on the Company’s derivative instruments.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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- References

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