| ACCUMULATED OTHER COMPREHENSIVE INCOME |
ACCUMULATED OTHER COMPREHENSIVE INCOME The changes in Accumulated Other Comprehensive Income (“AOCI”), net of tax, consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended March 31, 2026 | | | Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax | | Unrealized Gain (Loss)
on Net Investment Hedges, Net of Tax | | | | | | | | (in thousands) | | Foreign Currency Exchange Contracts | | Interest Rate Swap | | Euro-Denominated Notes | | Cross Currency Swaps | | Defined Benefit Plans, Net of Tax | | Cumulative Translation
Adjustment | | Total | | | | | | | | | | | | | | | | | Balance as of December 31, 2025 | | $ | (2,514) | | | $ | (338) | | | $ | (2,507) | | | $ | (3,981) | | | $ | (2,529) | | | $ | (56,975) | | | $ | (68,844) | | | Other comprehensive income (loss) before reclassifications | | 5,365 | | | 1,483 | | | — | | | 4,578 | | | — | | | (7,421) | | | 4,005 | | | Reclassified from accumulated other comprehensive income | | (80) | | | (156) | | | — | | | — | | | 135 | | | — | | | (101) | | | Balance as of March 31, 2026 | | $ | 2,771 | | | $ | 989 | | | $ | (2,507) | | | $ | 597 | | | $ | (2,394) | | | $ | (64,396) | | | $ | (64,940) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended March 31, 2025 | | | | Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax | | Unrealized Gain (Loss)
on Net Investment Hedges, Net of Tax | | | | | | | | (in thousands) | | | Foreign Currency Exchange Contracts | | Interest Rate Swap | | Euro-Denominated Notes | | Cross Currency Swaps | | Defined Benefit Plans, Net of Tax | | Cumulative Translation
Adjustment | | Total | | | | | | | | | | | | | | | | | | Balance as of December 31, 2024 | | | $ | 12,785 | | | $ | 542 | | | $ | 6,451 | | | $ | 7,409 | | | $ | (3,908) | | | $ | (116,924) | | | $ | (93,645) | | | Other comprehensive income (loss) before reclassifications | | | (5,153) | | | 59 | | | (3,006) | | | (3,605) | | | — | | | 18,101 | | | 6,396 | | | Reclassified from accumulated other comprehensive income | | | (2,711) | | | (247) | | | — | | | — | | | 116 | | | — | | | (2,842) | | | Balance as of March 31, 2025 | | | $ | 4,921 | | | $ | 354 | | | $ | 3,445 | | | $ | 3,804 | | | $ | (3,792) | | | $ | (98,823) | | | $ | (90,091) | |
The following table presents components and amounts reclassified out of AOCI to net income: | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Affected Line Item in the Statements of Income | | Amounts Reclassified from AOCI For the Three Months Ended March 31, | | | | | 2026 | | 2025 | | | | | | | | | Foreign currency exchange contracts | | Cost of revenue | | $ | 150 | | | $ | 3,745 | | | | Provision for income taxes | | (70) | | | (1,034) | | | | Gain (loss), net of tax | | $ | 80 | | | $ | 2,711 | | | | | | | | | | Interest rate swap contracts | | Interest expense | | $ | 205 | | | $ | 324 | | | | Provision for income taxes | | (49) | | | (77) | | | | Gain (loss), net of tax | | $ | 156 | | | $ | 247 | | | | | | | | | | Defined benefit plans | | Cost of revenue and operating expenses | | $ | (160) | | | $ | (138) | | | | Provision for income taxes | | 25 | | | 22 | | | | Gain (loss), net of tax | | $ | (135) | | | $ | (116) | |
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