| Schedule of Changes in Accumulated Other Comprehensive Income (Loss) |
The following tables summarize the changes in accumulated balances of other comprehensive income (loss) for the three and nine months ended September 30, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign Currency Translation
Adjustments | | Net Investment Hedge Gains (Losses) | | Change in Unrealized Gains (Losses) on Cash Flow Hedges | | Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges | | Change in Unrealized Gains (Losses)
on AFS Securities | | Tax (Expense) Benefit | | Total | | (in thousands) | | Balances as of June 30, 2024 | $ | (249,600) | | | $ | (3,400) | | | $ | 211,631 | | | $ | — | | | $ | — | | | $ | (47,745) | | | $ | (89,114) | | Other comprehensive income (loss) before reclassifications | 95,802 | | | (42,000) | | | (369,805) | | | (10,175) | | | 5,566 | | | 95,479 | | | (225,133) | | Amounts reclassified from accumulated other comprehensive income (loss) | — | | | — | | | (48,481) | | | 9,069 | | | — | | | 9,037 | | | (30,375) | | Net change in accumulated other comprehensive income (loss) | 95,802 | | | (42,000) | | | (418,286) | | | (1,106) | | | 5,566 | | | 104,516 | | | (255,508) | | | Balances as of September 30, 2024 | $ | (153,798) | | | $ | (45,400) | | | $ | (206,655) | | | $ | (1,106) | | | $ | 5,566 | | | $ | 56,771 | | | $ | (344,622) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign Currency Translation
Adjustments | | Net Investment Hedge Gains (Losses) | | Change in Unrealized Gains (Losses) on Cash Flow Hedges | | Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges | | Change in Unrealized Gains (Losses)
on AFS Securities | | Tax (Expense) Benefit | | Total | | (in thousands) | | Balances as of December 31, 2023 | $ | (103,922) | | | $ | — | | | $ | (155,730) | | | $ | — | | | $ | — | | | $ | 35,707 | | | $ | (223,945) | | Other comprehensive income (loss) before reclassifications | (49,876) | | | (45,400) | | | 19,883 | | | (10,175) | | | 5,566 | | | 6,908 | | | (73,094) | | Amounts reclassified from accumulated other comprehensive income (loss) | — | | | — | | | (70,808) | | | 9,069 | | | — | | | 14,156 | | | (47,583) | | Net change in accumulated other comprehensive income (loss) | (49,876) | | | (45,400) | | | (50,925) | | | (1,106) | | | 5,566 | | | 21,064 | | | (120,677) | | | Balances as of September 30, 2024 | $ | (153,798) | | | $ | (45,400) | | | $ | (206,655) | | | $ | (1,106) | | | $ | 5,566 | | | $ | 56,771 | | | $ | (344,622) | |
The following tables summarize the changes in accumulated balances of other comprehensive income (loss) for the three and nine months ended September 30, 2023: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign Currency Translation
Adjustments | | Net Investment Hedge Gains (Losses) | | Change in Unrealized Gains (Losses) on Cash Flow Hedges | | Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges | | Change in Unrealized Gains (Losses)
on AFS Securities | | Tax (Expense) Benefit | | Total | | (in thousands) | | Balances as of June 30, 2023 | $ | (139,266) | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | (139,266) | | Other comprehensive income (loss) before reclassifications | (94,157) | | | — | | | 101,169 | | | — | | | — | | | (23,317) | | | (16,305) | | | | | | | | | | | | | | | | | Net change in accumulated other comprehensive income (loss) | (94,157) | | | — | | | 101,169 | | | — | | | — | | | (23,317) | | | (16,305) | | Balances as of September 30, 2023 | $ | (233,423) | | | $ | — | | | $ | 101,169 | | | $ | — | | | $ | — | | | $ | (23,317) | | | $ | (155,571) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign Currency Translation
Adjustments | | Net Investment Hedge Gains (Losses) | | Change in Unrealized Gains (Losses) on Cash Flow Hedges | | Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges | | Change in Unrealized Gains (Losses)
on AFS Securities | | Tax (Expense) Benefit | | Total | | (in thousands) | | Balances as of December 31, 2022 | $ | (217,306) | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | (217,306) | | Other comprehensive income (loss) before reclassifications | (16,117) | | | — | | | 101,169 | | | — | | | — | | | (23,317) | | | 61,735 | | | | | | | | | | | | | | | | | Net change in accumulated other comprehensive income (loss) | (16,117) | | | — | | | 101,169 | | | — | | | — | | | (23,317) | | | 61,735 | | Balances as of September 30, 2023 | $ | (233,423) | | | $ | — | | | $ | 101,169 | | | $ | — | | | $ | — | | | $ | (23,317) | | | $ | (155,571) | |
The following tables summarize the amounts reclassified from AOCI to the Consolidated Statement of Operations: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | | | September 30, 2024 | | | | | | Revenues | | Cost of Revenues | | Interest and other income (expense) | | Provision for Income Taxes | | Total Reclassifications | | | | | | (in thousands) | | Gains (losses) on derivatives in cash flow hedging relationship | | | | | | | | | | | | | | | Foreign exchange contracts | | | | | | | | | | | | | | | Amount of gains (losses) reclassified from AOCI | $ | 48,184 | | | $ | 297 | | | $ | — | | | $ | (11,116) | | | $ | 37,365 | | | | | | | Gains (losses) on derivatives in fair value hedging relationship | | | | | | | | | | | | | | | Foreign exchange contracts | | | | | | | | | | | | | | | Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach | — | | | — | | | (9,069) | | | 2,079 | | | (6,990) | | | | | | | Total | $ | 48,184 | | | $ | 297 | | | $ | (9,069) | | | $ | (9,037) | | | $ | 30,375 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended | | | | September 30, 2024 | | | | | | Revenues | | Cost of Revenues | | Interest and other income (expense) | | Provision for Income Taxes | | Total Reclassifications | | | | | | (in thousands) | | Gains (losses) on derivatives in cash flow hedging relationship | | | | | | | | | | | | | | | Foreign exchange contracts | | | | | | | | | | | | | | | Amount of gains (losses) reclassified from AOCI | $ | 70,244 | | | $ | 564 | | | $ | — | | | $ | (16,235) | | | $ | 54,573 | | | | | | | Gains (losses) on derivatives in fair value hedging relationship | | | | | | | | | | | | | | | Foreign exchange contracts | | | | | | | | | | | | | | | Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach | — | | | — | | | (9,069) | | | 2,079 | | | (6,990) | | | | | | | Total | $ | 70,244 | | | $ | 564 | | | $ | (9,069) | | | $ | (14,156) | | | $ | 47,583 | | | | | |
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