Quarterly report pursuant to Section 13 or 15(d)

Foreign Currency Translation

v2.4.0.8
Foreign Currency Translation
9 Months Ended
Sep. 30, 2014
Foreign Currency Translation

15. Foreign Currency Translation

The accumulated other comprehensive loss account in stockholders’ equity of $117,384 and $81,819 at September 30, 2014 and December 31, 2013, respectively, includes cumulative foreign currency adjustments of $118,065 and $78,947, respectively, from translating the financial statements of the Company’s international subsidiaries, and also includes the change in fair values of the Company’s interest rate swap agreements that are designated as hedges and the change in fair value of the Company’s available-for-sale securities.

All foreign countries where the Company has operations are non-highly inflationary and the local currency is the same as the functional currency in all of the locations. Thus, any fluctuation in the currency results in a cumulative foreign currency translation adjustment recorded to accumulated other comprehensive loss.

Below is a summary of the impact of translating the September 30, 2014 financial statements of certain of the Company’s international subsidiaries:

 

     Exchange Rate as of      Total Assets at      Other
Comprehensive
Loss For The
Nine Months Ended
 

Country

   September 30, 2014      December 31, 2013      September 30, 2014      September 30, 2014  

Brazil

     2.44         2.36       $ 333,997       $ (8,428

Argentina

     8.49         6.52       $ 102,627         (19,724

Chile

     602.23         525.55       $ 50,326         (5,301

All other

              (5,665
           

 

 

 
            $ (39,118