Other comprehensive (loss) income consists of two components: unrealized gains or losses on the Company’s available-for-sale marketable investments and gains or losses from foreign currency translation adjustments. Until realized and reported as a component of consolidated net (loss) income, these comprehensive loss items accumulate and are included within accumulated other comprehensive loss. Unrealized gains and losses on our marketable investments are reclassified from accumulated other comprehensive loss into earnings when realized upon sale, and are determined based on specific identification of securities sold. Gains and losses from the translation of assets and liabilities denominated in non-U.S. dollar functional currencies are included in accumulated other comprehensive loss.

The following table summarizes the changes in the accumulated balances during the period, and includes information regarding the manner in which the reclassifications out of accumulated other comprehensive loss into earnings affect our consolidated statements of comprehensive loss (in thousands):


	Year Ended December 31, 2022						Year Ended December 31, 2021
	Marketable Investments		Currency Translation Adjustments		Total		Marketable Investments		Currency Translation Adjustments		Total
Balance, beginning of the year	$	(595)	$	(2,035)	$	(2,630)	$	647	$	1,894	$	2,541
Other comprehensive (loss) income before reclassifications:
Unrealized (losses) gains — marketable investments	(2,905)		—		(2,905)		(1,437)		—		(1,437)
Foreign currency translation losses	—		(2,590)		(2,590)		—		(3,930)		(3,930)
Income tax effect — expense	—		1		1		195		1		196
Net of tax	(2,905)		(2,589)		(5,494)		(1,242)		(3,929)		(5,171)
Amounts reclassified from accumulated other comprehensive loss to consolidated net income:
Realized (loss) gain — marketable investments	—		—		—		—		—		—
Income tax effect — (expense) benefit	—		—		—		—		—		—
Net of tax	—		—		—		—		—		—
Net current-year other comprehensive loss	(2,905)		(2,589)		(5,494)		(1,242)		(3,929)		(5,171)
Balance, end of the year	$	(3,500)	$	(4,624)	$	(8,124)	$	(595)	$	(2,035)	$	(2,630)