Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2024

10. Accumulated Other Comprehensive Income

Other comprehensive (loss) income consists of two components: unrealized gains or losses on the Company’s available-for-sale marketable investments and gains or losses from foreign currency translation adjustments. Until realized and reported as a component of consolidated net income, these comprehensive income items accumulate and are included within accumulated other comprehensive income. Unrealized gains and losses on our marketable investments are reclassified from accumulated other comprehensive income into earnings when realized upon sale, and are determined based on specific identification of securities sold. Gains and losses from the translation of assets and liabilities denominated in non-U.S. dollar functional currencies are included in accumulated other comprehensive income.

The following table summarizes the changes in the accumulated balances during the period, and includes information regarding the manner in which the reclassifications out of accumulated other comprehensive income into earnings affect our condensed consolidated statements of comprehensive income (loss) (in thousands):


	Three Months Ended March 31, 2024						Three Months Ended March 31, 2023
	Marketable Investments		Currency Translation Adjustments		Total		Marketable Investments		Currency Translation Adjustments		Total
Balance, beginning of the period	$	(558)	$	(2,593)	$	(3,151)	$	(3,500)	$	(4,624)	$	(8,124)
Other comprehensive loss before reclassifications:
Unrealized gains — marketable investments(1)	166		—		166		860		—		860

Foreign currency translation (losses) gains	—		(1,857)		(1,857)		—		403		403
Income tax effect — expense	—		4		4		—		—		—
Net of tax	166		(1,853)		(1,687)		860		403		1,263




Net current-year other comprehensive income (loss)	166		(1,853)		(1,687)		860		403		1,263
Balance, end of the period	$	(392)	$	(4,446)	$	(4,838)	$	(2,640)	$	(4,221)	$	(6,861)

(1) There were no unrealized gains or losses recorded in connection with the Company’s non-marketable debt securities as of March 31, 2024.