ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

ACCUMULATED OTHER COMPREHENSIVE LOSSThe following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss:

	Three Months Ended March 31,
	2023		2022
Foreign currency translation
Beginning balance	$	(101,780)	$	(52,747)
Foreign currency translation	16,300		(36,115)
Income tax (expense)/ benefit	(3,073)		5,563
Foreign currency translation, net of tax	13,227		(30,552)
Ending balance	$	(88,553)	$	(83,299)
Cash flow hedging instruments
Beginning balance	$	8,306	$	(3,417)
Unrealized gain/ (loss) in fair value	7,895		(46,557)
Net (gain)/ loss reclassified into Cost of revenues (exclusive of depreciation and amortization)	(2,580)		904
Net loss reclassified into Foreign exchange loss	33		43,854
Income tax (expense)/ benefit	(1,214)		408
Cash flow hedging instruments, net of tax	4,134		(1,391)
Ending balance(1)	$	12,440	$	(4,808)
Defined benefit plans
Beginning balance	$	(1,847)	$	1,957
Ending balance	$	(1,847)	$	1,957
Accumulated other comprehensive loss	$	(77,960)	$	(86,150)

(1) As of March 31, 2023, the ending balance of net unrealized gain 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.