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Accumulated Other Comprehensive Loss ("AOCL")
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Loss ("AOCL")

Note 10 — Accumulated Other Comprehensive Loss (“AOCL”)

The components of accumulated other comprehensive loss are as follows (net of tax, in thousands):

 

 

Marketable

 

 

Translation

 

 

 

 

 

 

Investments

 

 

Adjustment

 

 

Total AOCL

 

Balance at March 31, 2023

 

$

(126

)

 

$

(6,553

)

 

$

(6,679

)

Foreign currency translation (1)

 

 

—

 

 

 

746

 

 

 

746

 

Unrealized loss, net of tax of $4

 

 

(11

)

 

 

—

 

 

 

(11

)

Balance at June 30, 2023

 

$

(137

)

 

$

(5,807

)

 

$

(5,944

)

 

 

 

Marketable

 

 

Interest Rate

 

 

Translation

 

 

 

 

 

 

Investments

 

 

Swap

 

 

Adjustment

 

 

Total AOCL

 

Balance at March 31, 2022

 

$

(89

)

 

$

(16

)

 

$

(4,266

)

 

$

(4,371

)

Foreign currency translation (1)

 

 

—

 

 

 

—

 

 

 

(4,528

)

 

 

(4,528

)

Unrealized gain (loss) before reclassification, net
    of tax of $(1)

 

 

(29

)

 

 

32

 

 

 

—

 

 

 

3

 

Reclassification to income, net
    of tax of $(14) (2)

 

 

—

 

 

 

36

 

 

 

—

 

 

 

36

 

Balance at June 30, 2022

 

$

(118

)

 

$

52

 

 

$

(8,794

)

 

$

(8,860

)

 

 

 

 

Marketable

 

 

Translation

 

 

 

 

 

 

Investments

 

 

Adjustment

 

 

Total AOCL

 

Balance at December 31, 2022

 

$

(159

)

 

$

(7,759

)

 

$

(7,918

)

Foreign currency translation (1)

 

 

—

 

 

 

1,952

 

 

 

1,952

 

Unrealized gain, net of tax of $(7)

 

 

22

 

 

 

—

 

 

 

22

 

Balance at June 30, 2023

 

$

(137

)

 

$

(5,807

)

 

$

(5,944

)

 

 

 

Marketable

 

 

Interest Rate

 

 

Translation

 

 

 

 

 

 

Investments

 

 

Swap

 

 

Adjustment

 

 

Total AOCL

 

Balance at December 31, 2021

 

$

(25

)

 

$

(212

)

 

$

(2,952

)

 

$

(3,189

)

Foreign currency translation (1)

 

 

—

 

 

 

—

 

 

 

(5,842

)

 

 

(5,842

)

Unrealized gain (loss) before reclassification, net
   of tax of $(16)

 

 

(93

)

 

 

123

 

 

 

—

 

 

 

30

 

Reclassification to income, net
   of tax of $(54) (2)

 

 

—

 

 

 

141

 

 

 

—

 

 

 

141

 

Balance at June 30, 2022

 

$

(118

)

 

$

52

 

 

$

(8,794

)

 

$

(8,860

)

 

(1)
The Company does not record tax provisions or benefits for the net changes in foreign currency translation adjustments as it intends to permanently reinvest undistributed earnings of its foreign subsidiaries.
(2)
Reclassification is related to the Company’s interest rate swap (cash flow hedge) and was recorded in interest expense in the Consolidated Statements of Operations. Refer to Note 7 – Derivatives and Hedging.