Quarterly report pursuant to Section 13 or 15(d)

Other Comprehensive Income

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Other Comprehensive Income
 3 Months Ended
Mar. 31, 2012
Other Comprehensive Income [Abstract]  
OTHER COMPREHENSIVE INCOME

(3) OTHER COMPREHENSIVE INCOME

In addition to net earnings (loss), other comprehensive income includes changes in foreign currency translation adjustments. The Company operates internationally through several foreign subsidiaries. Assets and liabilities of the foreign operations denominated in local currencies are translated at the rate of exchange at the balance sheet date. Revenues and expenses are translated at the weighted average rate of exchange during the period of translation. The resulting translation adjustments along with the translation adjustments related to intercompany loans of a long-term investment nature are included in the translation adjustment in other comprehensive income.

 

The activity in other comprehensive income, net of income taxes, was as follows (in thousands):

 

                 
    Three-Months Ended March 31,      
          2012                 2011        

Net earnings (loss)

   $ (3,410 )    $ 12,153  

Gain on foreign currency translation adjustment, net of tax

     4,696       4,542  
   

 

 

    

 

 

  

Comprehensive income

     1,286       16,695  

Comprehensive income attributable to non-controlling interest

     409       616  
   

 

 

    

 

 

  

Comprehensive income attributable to parent

     $ 877       $ 16,079