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Other Comprehensive Income (Loss)
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Other Comprehensive Income (Loss) Other Comprehensive Income (Loss)
The tables below set forth the components of other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2025 and 2024.
Three Months Ended
June 30, 2025
Three Months Ended
June 30, 2024
Before
Taxes
Tax
(Expense)
Benefit
Net of
Taxes
Before
Taxes
Tax
(Expense)
Benefit
Net of
Taxes
Foreign currency translation adjustments$2,749 $— $2,749 $(281)$— $(281)
Unrealized gain (loss) on investment$(4,236)$(1,013)$(5,249)$(8,549)$2,231 $(6,318)
Unrealized gain (loss) on cash flow hedges:
Interest rate swaps:
Change in fair value$(2,546)$659 $(1,887)$791 $(206)$585 
Reclassification adjustments into earnings(399)104 (295)(2,344)612 (1,732)
Net unrealized gain (loss) on interest rate swaps$(2,945)$763 $(2,182)$(1,553)$406 $(1,147)
Foreign exchange forward contracts:
Change in fair value$27 $(7)$20 $22 $(6)$16 
Reclassification adjustments into earnings65 (17)48 (2)
Net unrealized gain (loss) on foreign exchange forward contracts$92 $(24)$68 $28 $(8)$20 
Other comprehensive income (loss)$(4,340)$(274)$(4,614)$(10,355)$2,629 $(7,726)
Six Months Ended
June 30, 2025
Six Months Ended
June 30, 2024
Before
Taxes
Tax
(Expense)
Benefit
Net of
Taxes
Before
Taxes
Tax
(Expense)
Benefit
Net of
Taxes
Foreign currency translation adjustments$3,284 $— $3,284 $(1,003)$— $(1,003)
Unrealized gain (loss) on investment$(18,429)$2,663 $(15,766)$(10,496)$2,731 $(7,765)
Interest rate swaps:
Change in fair value$(4,860)$1,257 $(3,603)$4,469 $(1,166)$3,303 
Reclassification adjustments into earnings(1,332)347 (985)(4,629)1,208 (3,421)
Net unrealized gain (loss) on interest rate swaps$(6,192)$1,604 $(4,588)$(160)$42 $(118)
Foreign exchange forward contracts:
Change in fair value$96 $(25)$71 $68 $(18)$50 
Reclassification adjustments into earnings230 (60)170 20 (6)14 
Net unrealized gain (loss) on foreign exchange forward contracts$326 $(85)$241 $88 $(24)$64 
Other comprehensive income (loss)$(21,011)$4,182 $(16,829)$(11,571)$2,749 $(8,822)
The before tax amounts reclassified from accumulated other comprehensive income (loss) related to our interest rate swaps and foreign exchange forward contracts designated as cash flow hedges are recorded to interest expense, net of interest income and direct costs, respectively, on our consolidated statement of operations. The related tax amounts reclassified from accumulated other comprehensive income (loss) are recorded to income tax expense (benefit) on our consolidated statement of operations. Refer to Note 10 “Derivative Instruments and Hedging Activity” for additional information on our derivative instruments.

Accumulated other comprehensive income (loss), net of tax, includes the following components: 
Cash Flow Hedges
Foreign Currency TranslationAvailable-for-Sale InvestmentInterest Rate SwapsForeign Exchange Forward ContractsTotal
Balance as of December 31, 2024$(5,912)$15,862 $2,220 $(284)$11,886 
Current period change3,284 (15,766)(4,588)241 (16,829)
Balance as of June 30, 2025$(2,628)$96 $(2,368)$(43)$(4,943)