The following table summarizes the changes in accumulated other comprehensive income (loss), which is reported as a component of shareholders’ equity, for the years ended December 31, 2021 and 2020: | | | | | | | | | | | | | Accumulated Other Comprehensive Income (Loss) | | Years ended | | December 31, 2021 | | December 31, 2020 | | $ | | $ | | Balance, beginning of the year | 8,770 | | | 1,046 | | | | | | | Other comprehensive income before reclassifications | 2,791 | | | 7,525 | | | (Gain) loss on cash flow hedges reclassified from accumulated other comprehensive income (loss) to earnings were as follows: | | | | | Cost of revenues | (1,001) | | | 151 | | | Sales and marketing | (6,212) | | | 933 | | | Research and development | (12,514) | | | 1,460 | | | General and administrative | (3,125) | | | 441 | | | Tax effect on unrealized (gain) loss on cash flow hedges | 5,317 | | | (2,786) | | | Other comprehensive (loss) income, net of tax | (14,744) | | | 7,724 | | | Balance, end of the year | (5,974) | | | 8,770 | |
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