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Equity | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Equity | Equity Accumulated Other Comprehensive (Loss) Income The following table provides a summary of the changes in the balances of accumulated other comprehensive (loss) income for the six months ended June 30, 2024:
(In thousands) |  | Foreign Currency Translation Adjustments |  | Cash Flow Hedges |  | Unrealized Gains (Losses) on Debt Securities AFS |  | Total
Balance - December 31, 2023, net of tax |  | $ | 14,847 |  |  | $ | 3,336 |  |  | $ | 26 |  |  | $ | 18,209 |
Other comprehensive (loss) income before reclassifications |  | (90,827) |  |  | 7,522 |  |  | (3) |  |  | (83,308) |
Effective portion reclassified to net income |  | — |  |  | (4,140) |  |  | — |  |  | (4,140) |
Balance - June 30, 2024, net of tax |  | $ | (75,980) |  |  | $ | 6,718 |  |  | $ | 23 |  |  | $ | (69,239) |
Share Repurchase On March 6, 2024, the Company entered into an accelerated share repurchase agreement (the “ASR”) with Bank of America, N.A. to repurchase an aggregate of $70 million of the Company’s common stock, par value $0.01 per share. In connection with the launch of the ASR, on March 8, 2024, the Company paid Bank of America, N.A., an aggregate of $70 million and received approximately 1.5 million shares of the Company’s common stock. The final number of shares to be received under the ASR agreement will be determined upon completion of the transaction and will be based on the total transaction value and the average of the daily volume-weighted average share price of the Company’s common stock during the term of the transaction. Final settlement of the transaction occurred on July 9, 2024, for further details refer to Note 17 - Subsequent Events. The Company accounted for this contract as an equity contract.

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