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Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Tables)
6 Months Ended
Jun. 30, 2018
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]  
Components of Other Comprehensive Income and Components of Accumulated Other Comprehensive Loss

Other comprehensive income (loss) includes foreign currency translation adjustments arising from the conversion of financial statements of foreign subsidiaries into U.S. dollars, the amortization of the gain on the sale of an interest rate hedge agreement, and the change in the fair value of a current interest rate hedge agreement. Components of accumulated other comprehensive loss as of June 30, 2018 and December 31, 2017 are as follows:

 

 

Three Months Ended June 30, 2018

 

 

Foreign

Currency

Translation Adjustments

 

 

Gain on Sale

of Interest

Rate Hedge

Agreement (1)

 

 

Change in

Fair Value of

Interest Rate

Hedge

Agreement (2)

 

 

Total

 

Accumulated other comprehensive (loss) income at

   March 31, 2018

$

(7,708

)

 

$

2,563

 

 

$

886

 

 

$

(4,259

)

Current period other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive (loss) income before

   reclassifications

 

(3,366

)

 

 

 

 

 

181

 

 

 

(3,185

)

Amounts reclassified from accumulated other

   comprehensive income

 

 

 

 

(132

)

 

 

 

 

 

(132

)

Total current period other comprehensive (loss) income (4)

 

(3,366

)

 

 

(132

)

 

 

181

 

 

 

(3,317

)

Accumulated other comprehensive (loss) income at

   June 30, 2018

$

(11,074

)

 

$

2,431

 

 

$

1,067

 

 

$

(7,576

)

 

 

Three Months Ended June 30, 2017

 

 

Foreign

Currency

Translation

Adjustments

 

 

Gain on Sale

of Interest

Rate Hedge

Agreement (1)

 

 

Change in

Fair Value of

Interest Rate

Hedge

Agreement (2)

 

 

Total

 

Accumulated other comprehensive (loss) income at

   March 31, 2017

$

(11,443

)

 

$

2,175

 

 

$

 

 

$

(9,268

)

Current period other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income before reclassifications (4)

 

2,100

 

 

 

 

 

 

 

 

 

2,100

 

Accumulated other comprehensive (loss) income at

   June 30, 2017

$

(9,343

)

 

$

2,175

 

 

$

 

 

$

(7,168

)

 

 

Six Months Ended June 30, 2018

 

 

Foreign

Currency

Translation

Adjustments

 

 

Gain on Sale

of Interest

Rate Hedge

Agreement (1)

 

 

Change in

Fair Value of

Interest Rate

Hedge

Agreement (2)

 

 

Total

 

Accumulated other comprehensive (loss) income at

   December 31, 2017

$

(7,638

)

 

$

2,158

 

 

$

441

 

 

$

(5,039

)

Reclassification of stranded tax effects due to adoption

   of accounting principle(3)

 

(1,307

)

 

 

478

 

 

 

 

 

 

(829

)

Adjusted beginning balance

 

(8,945

)

 

 

2,636

 

 

 

441

 

 

 

(5,868

)

Current period other comprehensive (loss) income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive (loss) income before

   reclassifications

 

(2,129

)

 

 

 

 

 

626

 

 

 

(1,503

)

Amounts reclassified from accumulated other

   comprehensive income

 

 

 

 

(205

)

 

 

 

 

 

(205

)

Total current period other comprehensive (loss) income(4)

 

(2,129

)

 

 

(205

)

 

 

626

 

 

 

(1,708

)

Accumulated other comprehensive (loss) income at

   June 30, 2018

$

(11,074

)

 

$

2,431

 

 

$

1,067

 

 

$

(7,576

)

 

 

Six Months Ended June 30, 2017

 

 

Foreign

Currency

Translation

Adjustments

 

 

Gain on Sale

of Interest Rate

Hedge

Agreement (1)

 

 

Change in

Fair Value of

Interest Rate

Hedge

Agreement (2)

 

 

Total

 

Accumulated other comprehensive (loss) income at

   December 31, 2016

$

(11,815

)

 

$

2,175

 

 

$

 

 

$

(9,640

)

Current period other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income before reclassifications (4)

 

2,472

 

 

 

 

 

 

 

 

 

2,472

 

Accumulated other comprehensive (loss) income at

   June 30, 2017

$

(9,343

)

 

$

2,175

 

 

$

 

 

$

(7,168

)

(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 and as interest payments are made on the Credit Facility from January 31, 2018 to January 31, 2023.

(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 and as interest payments are made on the Credit Facility from August 31, 2018 to August 31, 2023.

(3) - The Company has adjusted the balance at December 31, 2017 of accumulated other comprehensive loss for the stranded tax effects caused by the enactment of the Tax Act.

(4) - Changes in other comprehensive income (loss) are shown net of a total tax benefit of $0.2 million and tax expense of $0.5 million for the three-months ended June 30, 2018 and 2017, respectively, and total tax expense of $0.1 million and $0.7 million for the six-months ended June 30,2018 and 2017, respectively.