Quarterly report pursuant to Section 13 or 15(d)

Other Comprehensive Income (Loss)

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Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2011
Other Comprehensive Income (Loss) [Abstract]  
OTHER COMPREHENSIVE INCOME (LOSS)

(3) OTHER COMPREHENSIVE INCOME (LOSS)

In addition to net earnings (loss), other comprehensive income (loss) includes changes in foreign currency translation adjustments and income (loss) attributable to non-controlling interests. 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 translation adjustments related to intercompany loans of a long-term nature are included in the translation adjustment in other comprehensive income (loss).

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

 

                                 
    Three-Months Ended September 30,     Nine-Months Ended September 30,  

Comprehensive income (loss)

   2011     2010     2011     2010  

Net earnings (loss)

   $ 8,356     $ 36,579     $ (9,543 )    $ 133,019  

Gain (loss) on foreign currency translation adjustment, net of tax

     (15,644 )      10,543       (6,319 )      197  
   

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

     (7,288 )      47,122       (15,862 )      133,216  

Comprehensive income (loss) attributable to noncontrolling interest

     (66 )      372       524       349  
   

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss) attributable to parent

   $ (7,222 )    $ 46,750     $ (16,386 )    $ 132,867