Accumulated other comprehensive income (loss) is a separate line within the Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity that presents our other comprehensive income (loss) that has not been reported as part of net loss. The components of accumulated other comprehensive income (loss) at March 31, 2025 and December 31, 2024 were as follows:


	March 31, 2025
	Gross Balance		Tax Effect		Net Balance
Foreign currency translation
Translation of foreign subsidiaries	$	(6.4)	$	—	$	(6.4)
Realized gain on cross-currency swap	10.0		(2.4)		7.6
Unrealized loss on cross-currency swaps	(10.3)		2.5		(7.8)
Total foreign currency translation	(6.7)		0.1		(6.6)
Unrealized loss on cross currency fair value hedge	(0.6)		0.2		(0.4)
Total	$	(7.3)	$	0.3	$	(7.0)


	December 31, 2024
	Gross Balance		Tax Effect		Net Balance
Foreign currency translation
Translation of foreign subsidiaries	$	(12.8)	$	—	$	(12.8)
Realized gain on cross-currency swap	10.0		(2.4)		7.6
Unrealized loss on cross-currency swap	(1.3)		0.3		(1.0)
Total	$	(4.1)	$	(2.1)	$	(6.2)

The following tables present the changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2025 and 2024:


	Three Months Ended March 31, 2025
	Foreign currency translation		Fair value hedge adjustments		Total
Beginning balance	$	(6.2)	$	—	$	(6.2)
Other comprehensive loss before reclassifications	(2.6)		(0.6)		(3.2)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—
Tax effects	2.2		0.2		2.4
Ending balance	$	(6.6)	$	(0.4)	$	(7.0)


	Three Months Ended March 31, 2024
	Foreign currency translation		Unrealized gain (loss) on interest rate swaps		Total
Beginning balance	$	(0.7)	$	2.8	$	2.1
Other comprehensive loss before reclassifications	(1.5)		(1.2)		(2.7)
Amounts reclassified from accumulated other comprehensive income (loss)	0.4		(2.4)		(2.0)
Tax effects	(0.6)		0.5		(0.1)
Ending balance	$	(2.4)	$	(0.3)	$	(2.7)