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OTHER COMPREHENSIVE INCOME (LOSS)
 12 Months Ended
Dec. 31, 2020
OTHER COMPREHENSIVE INCOME (LOSS)
5. 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 their functional currency and changes in the unrealized gains (losses) on cash flow hedging instruments. The tax effects allocated to each component of other comprehensive income (loss) were as follows:
 
Years Ended December 31,
   
2020
     
2019
     
2018
  
Foreign currency translation adjustment
   
$
6,272
 
    $ 12,298      $ (20,493 ) 
Unrealized gain (loss) on cash flow hedging instruments
   
 
1,205
 
      (2,001 )       2,627  
Income tax (expense) benefit
   
 
(325
) 
      540        (709 ) 
    
 
 
     
 
 
     
 
 
  
Unrealized gain (loss) on cash flow hedging instruments, net of tax
   
 
880
 
      (1,461 )       1,918  
    
 
 
     
 
 
     
 
 
  
Reclassification of gain on cash flow hedging instruments into earnings
   
 
(574
) 
      (482 )       (215 ) 
Income tax expense
   
 
156
 
      130        58  
    
 
 
     
 
 
     
 
 
  
Reclassification of gain on cash flow hedging instruments into earnings, net of tax
   
 
(418
) 
      (352 )       (157 ) 
    
 
 
     
 
 
     
 
 
  
Other comprehensive income (loss)
   
$
6,734
 
    $ 10,485      $ (18,732 ) 
    
 
 
     
 
 
     
 
 
  
The changes in each component of accumulated other comprehensive loss, net of tax, were as follows:
 
Years Ended December 31,
   
2020
     
2019
     
2018
  
Foreign currency translation adjustment:
                           
Beginning balance
   
$
(38,599
)
    $ (46,604 )    $ (33,499 )
Current period other comprehensive income (loss)
   
 
3,905
 
      8,005        (13,105 ) 
    
 
 
     
 
 
     
 
 
  
Ending balance
   
 
(34,694
) 
      (38,599 )       (46,604 ) 
    
 
 
     
 
 
     
 
 
  
Cash flow hedging instruments:
                           
Beginning balance
   
 
(451
) 
      636        (421 ) 
Current period other comprehensive income (loss)
   
 
528
 
      (876 )       1,151  
Reclassification adjustment
   
 
(250
) 
      (211 )       (94 ) 
    
 
 
     
 
 
     
 
 
  
Ending balance
   
 
(173
) 
      (451 )       636  
    
 
 
     
 
 
     
 
 
  
Equity securities:
                           
Beginning balance
      —
 
       —
 
        (301 ) 
Cumulative-effect adjustment to retained earnings
      —
 
        —
 
        301  
    
 
 
     
 
 
     
 
 
  
Ending balance
      —        —        —  
    
 
 
     
 
 
     
 
 
  
Accumulated other comprehensive loss, net of tax
   
$
(34,867
) 
    $ (39,050 )     $ (45,968 )