ACCUMULATED OTHER COMPREHENSIVE LOSS

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Foreign currency translation
Beginning balance	$	(88,553)	$	(83,299)	$	(101,780)	$	(52,747)
Foreign currency translation	7,761		22,977		24,061		(13,138)
Income tax expense	(366)		(8,147)		(3,439)		(2,584)
Foreign currency translation, net of tax	7,395		14,830		20,622		(15,722)
Ending balance	$	(81,158)	$	(68,469)	$	(81,158)	$	(68,469)
Cash flow hedging instruments
Beginning balance	$	12,440	$	(4,808)	$	8,306	$	(3,417)
Unrealized gain/ (loss) in fair value	7,938		(11,048)		15,833		(57,605)
Net (gain)/ loss reclassified into Cost of revenues (exclusive of depreciation and amortization)	(9,904)		4,557		(12,484)		5,461
Net (gain)/ loss reclassified into Foreign exchange loss	—		(26)		33		43,828
Income tax benefit/ (expense)	446		1,480		(768)		1,888
Cash flow hedging instruments, net of tax	(1,520)		(5,037)		2,614		(6,428)
Ending balance(1)	$	10,920	$	(9,845)	$	10,920	$	(9,845)
Defined benefit plans
Beginning balance	$	(1,847)	$	1,957	$	(1,847)	$	1,957
Ending balance	$	(1,847)	$	1,957	$	(1,847)	$	1,957
Accumulated other comprehensive loss	$	(72,085)	$	(76,357)	$	(72,085)	$	(76,357)

(1) As of June 30, 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.