| Other Comprehensive Income (Loss) |
15.OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) includes changes in the fair value of interest rate swaps that qualify for hedge accounting. The components of other comprehensive income (loss) and related tax effects for the three and six months ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | Three Months Ended June 30, 2026 | | | Gross | | Tax Effect | | Net of Tax | Interest rate swap amounts reclassified into interest expense | | $ | (442) | | $ | 117 | | $ | (325) | Changes in fair value of interest rate swaps | | | 619 | | | (164) | | | 455 | Foreign currency translation adjustment | | | (36,994) | | | — | | | (36,994) | | | $ | (36,817) | | $ | (47) | | $ | (36,864) |
| | | | | | | | | | | | Three Months Ended June 30, 2025 | | | Gross | | Tax Effect | | Net of Tax | Interest rate swap amounts reclassified into interest expense | | $ | (3,400) | | $ | 901 | | $ | (2,499) | Changes in fair value of interest rate swaps | | | 118 | | | (31) | | | 87 | Foreign currency translation adjustment | | | 115,886 | | | — | | | 115,886 | | | $ | 112,604 | | $ | 870 | | $ | 113,474 |
| | | | | | | | | | | | Six Months Ended June 30, 2026 | | | Gross | | Tax Effect | | Net of Tax | Interest rate swap amounts reclassified into interest expense | | $ | (891) | | $ | 236 | | $ | (655) | Changes in fair value of interest rate swaps | | | 1,597 | | | (423) | | | 1,174 | Foreign currency translation adjustment | | | (68,122) | | | — | | | (68,122) | | | $ | (67,416) | | $ | (187) | | $ | (67,603) |
| | | | | | | | | | | | Six Months Ended June 30, 2025 | | | Gross | | Tax Effect | | Net of Tax | Interest rate swap amounts reclassified into interest expense | | $ | (6,724) | | $ | 1,782 | | $ | (4,942) | Changes in fair value of interest rate swaps | | | (1,029) | | | 273 | | | (756) | Foreign currency translation adjustment | | | 117,626 | | | — | | | 117,626 | | | $ | 109,873 | | $ | 2,055 | | $ | 111,928 |
A rollforward of the amounts included in AOCIL, net of taxes, for the six months ended June 30, 2026 and 2025, is as follows: | | | | | | | | | | | | | | | Foreign | | Accumulated | | | | | | Currency | | Other | | | Interest | | Translation | | Comprehensive | | | Rate Swaps | | Adjustment | | Income (Loss) | Balance at December 31, 2025 | | $ | 1,263 | | $ | (112,307) | | $ | (111,044) | Amounts reclassified into earnings | | | (655) | | | — | | | (655) | Changes in fair value | | | 1,174 | | | — | | | 1,174 | Foreign currency translation adjustment | | | — | | | (68,122) | | | (68,122) | Balance at June 30, 2026 | | $ | 1,782 | | $ | (180,429) | | $ | (178,647) |
| | | | | | | | | | | | | | | Foreign | | Accumulated | | | | | | Currency | | Other | | | Interest | | Translation | | Comprehensive | | | Rate Swaps | | Adjustment | | Income (Loss) | Balance at December 31, 2024 | | $ | 10,237 | | $ | (215,977) | | $ | (205,740) | Amounts reclassified into earnings | | | (4,942) | | | — | | | (4,942) | Changes in fair value | | | (756) | | | — | | | (756) | Foreign currency translation adjustment | | | — | | | 117,626 | | | 117,626 | Balance at June 30, 2025 | | $ | 4,539 | | $ | (98,351) | | $ | (93,812) |
See Note 11 for further discussion on the Company’s derivative instruments.
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