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Accumulated Other Comprehensive Loss ("AOCL") (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

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


	Marketable			Translation
	Investments			Adjustment			Total AOCL
Balance at June 30, 2023	$	(137	)	$	(5,807	)	$	(5,944	)
Foreign currency translation (1)		—			(2,435	)		(2,435	)
Unrealized gain, net of tax of $(10)		30			—			30
Balance at September 30, 2023	$	(107	)	$	(8,242	)	$	(8,349	)


	Marketable			Interest Rate			Translation
	Investments			Swap			Adjustment			Total AOCL
Balance at June 30, 2022	$	(118	)	$	52		$	(8,794	)	$	(8,860	)
Foreign currency translation (1)		—			—			(4,971	)		(4,971	)
Unrealized gain (loss) before reclassification, net of tax of $13		(54	)		13			—			(41	)
Reclassification to income, net of tax of $7 (2)		—			(18	)		—			(18	)
Balance at September 30, 2022	$	(172	)	$	47		$	(13,765	)	$	(13,890	)


	Marketable			Translation
	Investments			Adjustment			Total AOCL
Balance at December 31, 2022	$	(159	)	$	(7,759	)	$	(7,918	)
Foreign currency translation (1)		—			(483	)		(483	)
Unrealized gain, net of tax of $(17)		52			—			52
Balance at September 30, 2023	$	(107	)	$	(8,242	)	$	(8,349	)


	Marketable			Interest Rate			Translation
	Investments			Swap			Adjustment			Total AOCL
Balance at December 31, 2021	$	(25	)	$	(212	)	$	(2,952	)	$	(3,189	)
Foreign currency translation (1)		—			—			(10,813	)		(10,813	)
Unrealized gain (loss) before reclassification, net of tax of $3		(147	)		136			—			(11	)
Reclassification to income, net of tax of $(47) (2)		—			123			—			123
Balance at September 30, 2022	$	(172	)	$	47		$	(13,765	)	$	(13,890	)

(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.