Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2020

Accumulated Other Comprehensive Income (Loss)

11. Accumulated Other Comprehensive Income (Loss)

Components of comprehensive income (loss) are net income (loss) and all changes in equity during a period except those resulting from transactions with owners. Our accumulated other comprehensive income (loss) consists of changes in the fair value of our interest rate swap derivative instruments, net of tax, which are designated as cash flow hedges.

The following table presents the changes in accumulated other comprehensive income (loss) of our derivative cash flow hedges, net of tax, during the three months ended March 31, 2020 and 2019 (in thousands):


	Three Months Ended
	March 31,
	2020		2019
Beginning accumulated other comprehensive income (loss)	$	(1,387)	$	5,773
Loss recognized in other comprehensive loss, net of tax benefit of $1,590 and $0, respectively ⁽¹⁾		(5,983)		(2,299)
(Gain) loss reclassified from accumulated other comprehensive income (loss) to interest expense, net of tax benefit of $51 and $0, respectively ⁽¹⁾		197		(926)
Other comprehensive loss		(5,786)		(3,225)
Ending accumulated other comprehensive income (loss)	$	(7,173)	$	2,548

(1)	Includes adjustment of $0.7 million related to an increase in the valuation allowance recorded to offset the tax effect of other comprehensive loss recorded during the three months ended March 31, 2019.

See Note 18 (“Derivatives”) for further details on our interest rate swap derivative instruments.