Other comprehensive (loss) income consists of two components: unrealized gains or losses on the Company’s available-for-sale marketable investments, non-marketable investments, and gains or losses from foreign currency translation adjustments. Until realized and reported as a component of consolidated net income, these comprehensive income items accumulate and are included within accumulated other comprehensive income. Unrealized gains and losses on our marketable and non-marketable investments are reclassified from accumulated other comprehensive income 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 income.

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 condensed consolidated statements of comprehensive income (in thousands):


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	Marketable Investments		Non-Marketable Investments		Currency Translation Adjustments		Total		Marketable Investments		Non-Marketable Investments		Currency Translation Adjustments		Total
Balance, beginning of the period	$	(608)	$	3,761	$	1,195	$	4,348	$	(701)	$	2,850	$	(7,992)	$	(5,843)
Other comprehensive (loss) income before reclassifications:
Unrealized losses — investments	(1,120)		—		—		(1,120)		(29)		—		—		(29)

Foreign currency translation (losses) gains	—		—		(1,204)		(1,204)		—		—		2,735		2,735
Income tax effect — benefit	51		—		—		51		7		—		—		7
Net of tax	(1,069)		—		(1,204)		(2,273)		(22)		—		2,735		2,713




Net current-year other comprehensive (loss) income	(1,069)		—		(1,204)		(2,273)		(22)		—		2,735		2,713
Balance, end of the period	$	(1,677)	$	3,761	$	(9)	$	2,075	$	(723)	$	2,850	$	(5,257)	$	(3,130)