Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2017

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

NOTE 11—ACCUMULATED OTHER COMPREHENSIVE LOSS

As of December 31, 2017 and 2016, accumulated other comprehensive loss, net of tax, included the following:

	2017			2016
Foreign currency translation adjustments	$	7,638		$	11,815
Gain on sale of interest rate hedge agreement⁽¹⁾		(2,158	)		(2,175	)
Change in fair value on derivative designated as cash flow hedge⁽²⁾		(441	)		—
Total	$	5,039		$	9,640

(1)

Represents the fair value of an interest rate hedge agreement, designated as a cash flow hedge, which was sold on December 1, 2016. The fair value of the interest rate hedge agreement 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 January 31, 2018 to January 31, 2023. See additional details of the hedge agreement in Note 9—Derivative Instruments and Hedging Activities.

(2)

Represents the change in fair value of an interest rate hedge agreement designated as a cash flow hedge, and entered into on August 31, 2017. The fair value of the interest rate hedge agreement was recorded in other comprehensive income and will be reclassified to earnings when earnings are impacted by the hedged items, as interest payments are made on the Credit Facility from August 31, 2018 to August 31, 2023. See additional details of the hedge agreement in Note 9—Derivative Instruments and Hedging Activities.