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OTHER COMPREHENSIVE INCOME
 3 Months Ended
Mar. 31, 2017
OTHER COMPREHENSIVE INCOME
3. OTHER COMPREHENSIVE INCOME

Other comprehensive income 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 were as follows:

 

Quarters Ended March 31,

    2017     2016  

Foreign currency translation adjustment

    $     2,155     $     13,693  

Unrealized loss on cash flow hedging instruments

      (423 )      (1,086 ) 

Income tax benefit

      114       293  
  

 

 

    

 

 

  

Unrealized loss on cash flow hedging instruments, net of tax

      (309 )      (793 ) 
  

 

 

    

 

 

  

Reclassification of gain on cash flow hedging instruments into earnings

      (243 )      (1,066 ) 

Income tax expense

      65       288  
  

 

 

    

 

 

  

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

      (178 )      (778 ) 
  

 

 

    

 

 

  

 

Quarters Ended March 31,

    2017     2016  

Unrealized gain on available-for-sale securities

      13       13  

Income tax expense

      (5 )      (4 ) 
  

 

 

    

 

 

  

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

      8       9  
  

 

 

    

 

 

  

Other comprehensive income

    $     1,676     $     12,131  
  

 

 

    

 

 

  

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

 

Quarters Ended March 31,

    2017     2016  

Foreign currency translation adjustment:

     

Beginning balance

    $     (43,459)     $     (47,204)  

Current period other comprehensive income

      1,324       8,362  
  

 

 

    

 

 

  

Ending balance

      (42,135)       (38,842)  
  

 

 

    

 

 

  

Cash flow hedging instruments:

     

Beginning balance

      215       600  

Current period other comprehensive loss

      (185)       (476)  

Less reclassification adjustment

      (107)       (467)  
  

 

 

    

 

 

  

Ending balance

      (77 )      (343 ) 
  

 

 

    

 

 

  

Available-for-sale securities:

     

Beginning balance

      (286)       (300)  

Current period other comprehensive income

      8       9  
  

 

 

    

 

 

  

Ending balance

      (278)       (291)  
  

 

 

    

 

 

  

Accumulated other comprehensive loss, net of tax

    $     (42,490)     $     (39,476)