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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Components of Accumulated Other Comprehensive (Loss) Income

Accumulated other comprehensive (loss) income included the following:

 

 

 

Foreign
Currency
Translation
Adjustments

 

 

 

Changes in
Fair Value
of Interest
Rate Hedge
Agreements (1)(2)

 

 

Total

 

Accumulated other comprehensive (loss) income at January 1, 2022

 

$

(8,759

)

 

 

$

(2,276

)

 

$

(11,035

)

Current period other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) before reclassifications

 

 

(9,259

)

 

 

 

11,445

 

 

 

2,186

 

Amounts reclassified from accumulated other comprehensive (loss) income

 

 

—

 

 

 

 

(248

)

 

 

(248

)

Effect of taxes (3)

 

 

3,962

 

 

 

 

(2,998

)

 

 

964

 

Total current period other comprehensive income (loss)

 

 

(5,297

)

 

 

 

8,199

 

 

 

2,902

 

Accumulated other comprehensive (loss) income at December 31, 2022

 

 

(14,056

)

 

 

 

5,923

 

 

 

(8,133

)

Current period other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

Other comprehensive (loss) income before reclassifications

 

 

4,158

 

 

 

 

(45

)

 

 

4,113

 

Amounts reclassified from accumulated other comprehensive (loss) income

 

 

—

 

 

 

 

(6,982

)

 

 

(6,982

)

Effect of taxes (3)

 

 

(2,797

)

 

 

 

1,914

 

 

 

(883

)

Total current period other comprehensive income (loss)

 

 

1,361

 

 

 

 

(5,113

)

 

 

(3,752

)

Accumulated other comprehensive (loss) income at December 31, 2023

 

 

(12,695

)

 

 

 

810

 

 

 

(11,885

)

Current period other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) before reclassifications

 

 

(3,884

)

 

 

 

5,996

 

 

 

2,112

 

Amounts reclassified from accumulated other comprehensive (loss) income (4)

 

 

—

 

 

 

 

(6,244

)

 

 

(6,244

)

Effect of taxes (3)

 

 

196

 

 

 

 

75

 

 

 

271

 

Total current period other comprehensive income (loss)

 

 

(3,688

)

 

 

 

(173

)

 

 

(3,861

)

Accumulated other comprehensive (loss) income at December 31, 2024

 

$

(16,383

)

 

 

$

637

 

 

$

(15,746

)

 

(1)
Represents the change in fair value of interest rate hedge agreements designated as a cash flow hedges. The fair value of the interest rate hedge agreements was recorded in other comprehensive income, net of tax, and will be reclassified to earnings when earnings are impacted by the hedged items, as interest payments are made on the Credit Facility from through June 27, 2028. See additional details of the hedge agreements in Note 12 - Derivative Instruments and Hedging Activities.
(2)
The Company expects to reclassify $0.8 million in unrealized gains related to the Change in Fair Value of Interest Rate Hedge Agreement from accumulated other comprehensive loss into earnings during the next 12 months.
(3)
The Company’s effective tax rate for the years ended December 31, 2024, 2023, and 2022 was 20.2%, 14.4%, and 23.5%, respectively.