ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss:


	Three Months Ended March 31,
	2021		2020
Foreign currency translation
Beginning balance	$	(28,168)	$	(32,666)
Foreign currency translation	(13,581)		(35,332)
Income tax benefit	3,050		6,813
Foreign currency translation, net of tax	(10,531)		(28,519)
Ending balance	$	(38,699)	$	(61,185)
Cash flow hedging instruments
Beginning balance	$	3,642	$	1,292
Unrealized loss in fair value	(7,346)		(11,428)
Net gain/(loss) reclassified into Cost of revenues (exclusive of depreciation and amortization)	2,066		(660)
Income tax benefit	1,199		2,720
Cash flow hedging instruments, net of tax	(4,081)		(9,368)
Ending balance(1)	$	(439)	$	(8,076)
Defined benefit plans
Beginning balance	$	(986)	$	—
Actuarial losses	(811)		—
Income tax benefit	185		—
Defined benefit plans, net of tax	(626)		—
Ending balance	$	(1,612)	$	—
Accumulated other comprehensive loss	$	(40,750)	$	(69,261)

(1) As of March 31, 2021, the ending balance of net unrealized losses related to derivatives designated as cash flow hedges is expected to be reclassified into Cost of revenues (exclusive of depreciation and amortization) in the next twelve months.