Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.22.1
Accumulated Other Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive (loss) income consists primarily of unrealized changes in fair value of derivative instruments that qualify for hedge accounting and cumulative foreign currency translation adjustments.
The components of accumulated other comprehensive income (loss) as of December 31, 2021 and 2020 were as follows:
Derivative Instruments Currency Translation Adjustment Total
(in thousands)
Balance at December 31, 2019 $ 6,946  $ (1,707) $ 5,239 
Other comprehensive (loss) income (20,592) 5,230  (15,362)
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 
The maximum period over which the Interest Rate Swap Agreements are designated is December 31, 2023. Assuming interest rates at December 31, 2021 remain constant, approximately $16.7 million of interest expense related to hedges of these transactions is expected to be reclassified into earnings over the next 12 months. Actual amounts ultimately reclassified into earnings over the next 12 months could vary materially from this estimated amount as a result of changes in interest rates.
On February 18 and 22, 2022, the Company terminated the interest rate swap agreements discussed above. For further information, see “Note 23 — Subsequent Events