Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2020

ACCUMULATED OTHER COMPREHENSIVE INCOME

The changes in AOCI, net of tax, consisted of the following:


	For the Six Months Ended June 30, 2020
			Unrealized (Loss) Gain on Cash Flow Hedges, Net of Tax		Unrealized (Loss) Gain on Net Investment Hedges, Net of Tax
(in thousands)	Unrealized Gain (Loss) on Investments, Net of Tax		Foreign Currency Exchange Contracts		Euro-Denominated Notes		Cross Currency Swaps		Cumulative Translation Adjustment		Total

Balance as of December 31, 2019	$	110	$	(736)	$	1,396	$	3,467	$	(50,419)	$	(46,182)
Other comprehensive (loss) income before reclassifications	(574)		5,538		(642)		2,602		(15,200)		(8,276)
Gain reclassified from accumulated other comprehensive income	—		(2,574)		—		—		—		(2,574)
Balance as of June 30, 2020	$	(464)	$	2,228	$	754	$	6,069	$	(65,619)	$	(57,032)

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	For the Six Months Ended June 30, 2019
			Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax		Unrealized (Loss) Gain on Net Investment Hedges, Net of Tax
(in thousands)	Unrealized (Loss) Gain on Investments, Net of Tax		Foreign Currency Exchange Contracts		Euro-Denominated Notes		Cross Currency Swaps		Cumulative Translation Adjustment		Total

Balance as of December 31, 2018	$	(157)	$	6,229	$	(394)	$	1,360	$	(48,829)	$	(41,791)
Other comprehensive income before reclassifications	362		1,110		500		868		1,681		4,521
Gain reclassified from accumulated other comprehensive income	—		(3,313)		—		—		—		(3,313)
Balance as of June 30, 2019	$	205	$	4,026	$	106	$	2,228	$	(47,148)	$	(40,583)

The following tables present components and amounts reclassified out of AOCI to net income:


(in thousands)	Affected Line Item in the Statements of Income	Amounts Reclassified from AOCI For the Three Months Ended June 30,
		2020		2019
Gain on derivative instruments classified as cash flow hedges included in net income:
Foreign currency exchange contracts	Cost of revenue	$	1,812	$	2,509
	Tax expense	339		358
	Gain, net of tax	$	1,473	$	2,151


(in thousands)	Affected Line Item in the Statements of Income	Amounts Reclassified from AOCI For the Six Months Ended June 30,
		2020		2019
Gain on derivative instruments classified as cash flow hedges included in net income:
Foreign currency exchange contracts	Cost of revenue	$	3,153	$	3,920
	Tax expense	579		607
	Gain, net of tax	$	2,574	$	3,313