Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.22.4
Accumulated Other Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss) consists primarily of unrealized changes in fair value of derivative instruments that qualified for hedge accounting prior to termination and cumulative foreign currency translation adjustments.
The components of accumulated other comprehensive income (loss) as of December 31, 2022 and 2021 were as follows:
Derivative Instruments Currency Translation Adjustment Total
(in thousands)
Balance at December 31, 2020
$ (13,646) $ 3,523  $ (10,123)
Other comprehensive income (loss) 25,469  (2,726) 22,743 
Balance at December 31, 2021
$ 11,823  $ 797  $ 12,620 
Other comprehensive loss (2,974) (14,590) (17,564)
Balance at December 31, 2022 $ 8,849  $ (13,793) $ (4,944)
The accumulated net loss in foreign currency translation adjustment primarily reflects the strengthening of the U.S. dollar against the British pound and the Japanese yen.
The Company terminated the Interest Rate Swap Agreements effective February 18, 2022. As of December 31, 2022, $8.8 million of the remaining accumulated other comprehensive income related to hedge accounting is expected to be reclassified into earnings over the next 12 months.