Accumulated Other Comprehensive Loss ("AOCL")

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss) ("AOCI/L")

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

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

	Marketable			Interest Rate			Translation
	Investments			Swap			Adjustment			Total AOCI/L
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	)

	Interest Rate			Translation
	Swap			Adjustment			Total AOCI/L
Balance at March 31, 2021	$	(631	)	$	(2,170	)	$	(2,801	)
Foreign currency translation (1)		—			723			723
Unrealized loss before reclassification, net     of tax of $2		(7	)		—			(7	)
Reclassification to income, net     of tax of $(57) (2)		146			—			146
Balance at June 30, 2021	$	(492	)	$	(1,447	)	$	(1,939	)

	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	)

	Interest Rate			Translation
	Swap			Adjustment			Total AOCL
Balance at December 31, 2020	$	(821	)	$	131		$	(690	)
Foreign currency translation (1)		—			(1,578	)		(1,578	)
Unrealized loss before reclassification, net    of tax of $1		(3	)		—			(3	)
Reclassification to income, net    of tax of $(130) (2)		332			—			332
Balance at June 30, 2021	$	(492	)	$	(1,447	)	$	(1,939	)

(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 on the Consolidated Statements of Income. Refer to Note 7 – Derivatives and Hedging.