| Schedule of Accumulated Other Comprehensive Loss |
The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | | | 2024 | | 2023 | | 2024 | | 2023 | | Foreign currency translation | | | | | | | | | | Beginning balance | | $ | (67,962) | | | $ | (81,158) | | | $ | (43,601) | | | $ | (101,780) | | | Foreign currency translation | | 39,596 | | | (33,292) | | | 8,305 | | | (9,231) | | | Net loss reclassified into Loss on sale of business | | — | | | 23,931 | | | — | | | 23,931 | | | Income tax (expense)/benefit | | (8,822) | | | 3,560 | | | (1,892) | | | 121 | | | Foreign currency translation, net of tax | | 30,774 | | | (5,801) | | | 6,413 | | | 14,821 | | | Ending balance | | $ | (37,188) | | | $ | (86,959) | | | $ | (37,188) | | | $ | (86,959) | | | Cash flow hedging instruments | | | | | | | | | | Beginning balance | | $ | 1,479 | | | $ | 10,920 | | | $ | 7,819 | | | $ | 8,306 | | | Unrealized gain/ (loss) in fair value | | 1,592 | | | (8,805) | | | (1,797) | | | 7,028 | | | Net gain reclassified into Cost of revenues (exclusive of depreciation and amortization) | | (4,185) | | | (8,764) | | | (9,040) | | | (21,248) | | | Net gain reclassified into Foreign exchange loss | | — | | | (211) | | | — | | | (178) | | | Income tax benefit | | 599 | | | 4,036 | | | 2,503 | | | 3,268 | | | Cash flow hedging instruments, net of tax | | (1,994) | | | (13,744) | | | (8,334) | | | (11,130) | | Ending balance(1) | | $ | (515) | | | $ | (2,824) | | | $ | (515) | | | $ | (2,824) | | | Defined benefit plans | | | | | | | | | | Beginning balance | | $ | (2,940) | | | $ | (1,847) | | | $ | (3,258) | | | $ | (1,847) | | | Actuarial gains | | 126 | | | — | | | 439 | | | — | | | Income tax benefit | | — | | | — | | | 5 | | | — | | | Defined benefit plans, net of tax | | 126 | | | — | | | 444 | | | — | | | Ending balance | | $ | (2,814) | | | $ | (1,847) | | | $ | (2,814) | | | $ | (1,847) | | | Accumulated other comprehensive loss | | $ | (40,517) | | | $ | (91,630) | | | $ | (40,517) | | | $ | (91,630) | |
(1) As of September 30, 2024, the ending balance of net unrealized loss related to derivatives designated as cash flow hedges is expected to be reclassified into earnings in the next twelve months.
|