Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

Note 15 – Accumulated Other Comprehensive Loss

The changes in accumulated other comprehensive loss by component were as follows:

	Three Months Ended June 30,
	2023												2022
	Foreign												Foreign
	Currency			Derivative									Currency			Derivative
	Translation			Instruments,									Translation			Instruments,
(in thousands)	Adjustments			Net of Tax			Other			Total			Adjustments			Net of Tax			Other			Total
Beginning balance	$	(14,827	)	$	1,936		$	(918	)	$	(13,809	)	$	(13,884	)	$	(925	)	$	(1,078	)	$	(15,887	)
Other comprehensive gain (loss) before reclassifications		55			1,863			206			2,124			(3,501	)		1,268			(20	)		(2,253	)
Amounts reclassified from accumulated other comprehensive loss		—			(867	)		—			(867	)		—			(152	)		—			(152	)
Net current period other comprehensive gain (loss)		55			996			206			1,257			(3,501	)		1,116			(20	)		(2,405	)
Ending balance	$	(14,772	)	$	2,932		$	(712	)	$	(12,552	)	$	(17,385	)	$	191		$	(1,098	)	$	(18,292	)

	Six Months Ended June 30,
	2023												2022
	Foreign												Foreign
	Currency			Derivative									Currency			Derivative
	Translation			Instruments,									Translation			Instruments,
(in thousands)	Adjustments			Net of Tax			Other			Total			Adjustments			Net of Tax			Other			Total
Beginning balance	$	(15,877	)	$	788		$	(1,144	)	$	(16,233	)	$	(12,729	)	$	(3,372	)	$	(1,057	)	$	(17,158	)
Other comprehensive gain (loss) before reclassifications		1,105			3,439			432			4,976			(4,656	)		3,632			(41	)		(1,065	)
Amounts reclassified from accumulated other comprehensive loss		—			(1,295	)		—			(1,295	)		—			(69	)		—			(69	)
Net current period other comprehensive gain (loss)		1,105			2,144			432			3,681			(4,656	)		3,563			(41	)		(1,134	)
Ending balance	$	(14,772	)	$	2,932		$	(712	)	$	(12,552	)	$	(17,385	)	$	191		$	(1,098	)	$	(18,292	)

Unrealized gains and losses relating to derivative instruments, reclassified from accumulated other comprehensive loss for the three and six months ended June 30, 2023 and 2022, were recognized as a component of cost of sales in the condensed consolidated statements of income, which relate to the Company's foreign currency contracts accounted for as cash flow hedges. See Note 14 for further explanation of the change in derivative instruments that is recorded to accumulated other comprehensive loss.