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OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Jun. 30, 2016
OTHER COMPREHENSIVE INCOME (LOSS)

3. OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) consists of the foreign currency translation adjustment associated with our Canadian operations’ use of the Canadian dollar as its functional currency and changes in the unrealized (losses) gains on cash flow hedging instruments and available-for-sale securities. The tax effects allocated to each component of other comprehensive income (loss) were as follows:

 

     Quarter Ended
June 30,		      Six Months Ended
June 30,		  
     2016      2015      2016      2015  

Foreign currency translation adjustment

    $ 1,193       $ 2,972       $ 14,886       $ (16,903 ) 

Unrealized (loss) gain on cash flow hedging instruments

      (1,483 )       (329 )       (2,569 )       1,898   

Income tax benefit (expense)

      401         88         694         (513 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Unrealized (loss) gain on cash flow hedging instruments, net of tax

      (1,082 )       (241 )       (1,875 )       1,385   
  

 

 

     

 

 

     

 

 

     

 

 

  

Reclassification of loss (gain) on cash flow hedging instruments into earnings

      1,611         (1,366 )       545         (1,554 ) 

Income tax (benefit) expense

      (435 )       369         (147 )       420   
  

 

 

     

 

 

     

 

 

     

 

 

  

Reclassification of loss (gain) on cash flow hedging instruments into earnings, net of tax

      1,176         (997 )       398         (1,134 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Unrealized (loss) gain on available-for-sale securities

      (28 )       23         (15 )       34   

Income tax benefit (expense)

      10         (9 )       6         (13 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Unrealized (loss) gain on available-for-sale securities, net of tax

      (18 )       14         (9 )       21   
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive income (loss)

    $ 1,269       $ 1,748       $ 13,400       $ (16,631 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

The changes in each component of accumulated other comprehensive loss, net of tax, were as follows:

 

Six Months Ended June 30,

    2016      2015  

Foreign currency translation adjustment:

      

Beginning balance

    $ (47,204 )     $ (23,623 ) 

Current period other comprehensive income (loss)

      9,095         (10,065 ) 
  

 

 

     

 

 

  

Ending balance

    $ (38,109 )     $ (33,688 ) 
  

 

 

     

 

 

  

Cash flow hedging instruments:

      

Beginning balance

    $ 600       $ 168   

Current period other comprehensive (loss) income

      (1,125 )       831   

Less reclassification adjustment

      239         (680 ) 
  

 

 

     

 

 

  

Ending balance

    $ (286 )     $ 319   
  

 

 

     

 

 

  

Available-for-sale securities:

      

Beginning balance

    $ (300 )     $ (292 ) 

Current period other comprehensive (loss) income

      (9 )       21   
  

 

 

     

 

 

  

Ending balance

    $ (309 )     $ (271 ) 
  

 

 

     

 

 

  

Accumulated other comprehensive loss, net of tax

    $ (38,704 )     $ (33,640 )