ACCUMULATED OTHER COMPREHENSIVE LOSS

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

ACCUMULATED OTHER COMPREHENSIVE LOSS

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Foreign currency translation
Beginning balance	$	(83,299)	$	(38,699)	$	(52,747)	$	(28,168)
Foreign currency translation	22,977		12,088		(13,138)		(1,493)
Income tax (expense)/ benefit	(8,147)		(2,451)		(2,584)		599
Foreign currency translation, net of tax	14,830		9,637		(15,722)		(894)
Ending balance	$	(68,469)	$	(29,062)	$	(68,469)	$	(29,062)
Cash flow hedging instruments
Beginning balance	$	(4,808)	$	(439)	$	(3,417)	$	3,642
Unrealized (loss)/ gain in fair value	(11,048)		1,271		(57,605)		(6,075)
Net loss reclassified into Cost of revenues (exclusive of depreciation and amortization)	4,557		1,371		5,461		3,437
Net (gain)/ loss reclassified into Foreign exchange loss	(26)		—		43,828		—
Income tax benefit/ (expense)	1,480		(602)		1,888		597
Cash flow hedging instruments, net of tax	(5,037)		2,040		(6,428)		(2,041)
Ending balance(1)	$	(9,845)	$	1,601	$	(9,845)	$	1,601
Defined benefit plans
Beginning balance	$	1,957	$	(1,612)	$	1,957	$	(986)
Actuarial losses	—		—		—		(811)
Income tax benefit	—		—		—		185
Defined benefit plans, net of tax	—		—		—		(626)
Ending balance	$	1,957	$	(1,612)	$	1,957	$	(1,612)
Accumulated other comprehensive loss	$	(76,357)	$	(29,073)	$	(76,357)	$	(29,073)

(1) As of June 30, 2022, 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.