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COMPREHENSIVE INCOME
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
COMPREHENSIVE INCOME

NOTE 11. COMPREHENSIVE INCOME

 

The Company’s other comprehensive income (OCI) comprises foreign currency translation adjustments from subsidiaries that do not use the U.S. dollar as their functional currency.

 

The following table shows the changes in AOCI by component for the three months ending June 30, 2025, and 2024:

 

Accumulated Comprehensive Income: 

Cumulative Foreign

Currency Translation

 
Balance as of March 31, 2024  $(17,288)
Other comprehensive income/(loss), ADS   6,292 
Other comprehensive income/(loss), AML   (14,073)
Other comprehensive income/(loss), APL   5,209 
Other comprehensive income/(loss), ATECH   148 
Total other comprehensive income/(loss)   (2,424)
Balance as of June 30, 2024  $(19,712)
      
Balance as of March 31, 2025  $120,626 
Other comprehensive income/(loss), ADS   5,715
Other comprehensive income/(loss), AML   130,264
Other comprehensive income/(loss), APL   21,891 
Other comprehensive income/(loss), ATECH   (13,842)
Total other comprehensive income/(loss)   144,028
Balance as of June 30, 2025  $264,654

 

The following table shows the changes in AOCI by component for the six months ending June 30, 2025, and 2024:

 

Accumulated Comprehensive Income: 

Cumulative Foreign

Currency Translation

 
Balance as of December 31, 2023  $225,228 
Other comprehensive income/(loss), ADS   13,102 
Other comprehensive income/(loss), AML   (244,937)
Other comprehensive income/(loss), APL   (13,253)
Other comprehensive income/(loss), ATECH   148 
Total other comprehensive income/(loss)   (244,940)
Balance as of June 30, 2024  $(19,712)
      
Balance as of December 31, 2024  $(72,781)
Other comprehensive income/(loss), ADS   10,996
Other comprehensive income/(loss), AML   352,881
Other comprehensive income/(loss), APL   (12,971)
Other comprehensive income/(loss), ATECH   (13,471)
Total other comprehensive income/(loss)   337,435
Balance as of June 30, 2025  $264,654

 

Accumulated other comprehensive income (AOCI)

 

The Company’s AOCI consists entirely of foreign currency translation adjustments (“CTA”) arising on the consolidation of subsidiaries whose functional currency is not the U.S. dollar. The tables above present the change in AOCI by component subsidiary (ADS, AML, APL, and ATECH) for the three and six months ended June 30, 2025, with comparative 2024 periods. Total other comprehensive income for the six months ended June 30, 2025, was $337,435 (three months: $144,028), and the AOCI balance at June 30, 2025, was $264,654, which agrees with the accumulated other comprehensive income line on the Consolidated Balance Sheet.

 

Tax effect

 

The CTA arises from foreign subsidiaries whose undistributed earnings are considered indefinitely reinvested; accordingly, no deferred tax effect has been recorded on the other comprehensive income components presented (ASC 740-30-25-17). No amounts were reclassified out of AOCI to net income during the periods presented.

 

Noncontrolling interest share of OCI

 

The NCI’s share of other comprehensive income reflects only its 49% interest in ADS’s foreign currency translation, allocated from ADS’s own AOCI rollforward; AML, APL, and ATECH are wholly owned and bear no NCI. The NCI’s share of other comprehensive income was $5,388 for the six months ended June 30, 2025 ($2,800 for the three months).