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OTHER COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Mar. 31, 2021
OTHER COMPREHENSIVE INCOME (LOSS)
4.
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 on cash flow hedging instruments. The tax effects allocated to each component of other
comprehensive income (loss) were as follows:
 
Quarters Ended March 31,
   
2021
     
2020
  
Foreign currency translation adjustment
   
$
3,457
      $ (21,929 )
Unrealized gain on cash flow hedging instruments
   
 
103
       3,473  
Income tax expense
   
 
(27
) 
      (939 ) 
    
 
 
     
 
 
  
Unrealized gain on cash flow hedging instruments, net of tax
   
 
76
        2,534  
    
 
 
     
 
 
  
Reclassification of loss on cash flow hedging instruments into earnings
   
 
333
 
      157  
Income tax benefit
   
 
(90
) 
      (42 ) 
    
 
 
     
 
 
  
Reclassification of loss on cash flow hedging instruments into earnings, net of tax
   
 
243
 
      115  
    
 
 
     
 
 
  
Other comprehensive income (loss)
   
$
3,776
 
    $ (19,280 ) 
    
 
 
     
 
 
  
 
The changes in each component of accumulated other comprehensive loss, net of tax, were as follows:
 
Quarters Ended March 31,
   
2021
     
2020
  
Foreign currency translation adjustment:
                  
Beginning balance
   
$
(34,694
)
    $ (38,599 )
Current period other comprehensive income (loss)
   
 
2,282
 
      (14,328 ) 
    
 
 
     
 
 
  
Ending balance
   
 
(32,412
) 
      (52,927 ) 
    
 
 
     
 
 
  
Cash flow hedging instruments:
                  
Beginning balance
   
 
(173
) 
      (451 ) 
Current period other comprehensive income
   
 
46
        1,520  
Reclassification adjustment
   
 
146
        69  
    
 
 
     
 
 
  
Ending balance
   
 
19
        1,138  
    
 
 
     
 
 
  
Accumulated other comprehensive loss, net of tax
   
$
(32,393
)
    $ (51,789 )