| Comprehensive Income |
NOTE 7 – COMPREHENSIVE INCOME
Accumulated other comprehensive income, net of applicable taxes, reported on the Company's Condensed Consolidated Balance Sheets consists of unrealized holding gains and losses on available-for-sale securities, unrealized holding gains and losses on certain derivative transactions and foreign currency translation adjustments. A summary of comprehensive income, net of related tax effects, is as follows (in thousands):
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Three Months Ended
September 30,
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Nine Months Ended
September 30, |
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2011 |
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2010 |
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2011 |
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2010 |
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Net income
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$ |
67,539 |
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$ |
52,205 |
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$ |
66,751 |
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$ |
50,829 |
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Other comprehensive income:
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Unrealized holding gains (losses) on available-for-sale securities
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(156 |
) |
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14 |
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(38 |
) |
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9 |
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Unrealized derivative holding gains (losses) arising during period
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7,973 |
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(4,082 |
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2,379 |
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1,072 |
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Reclassification to net income of previously deferred (gains) losses on derivative transactions
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3,855 |
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(1,941 |
) |
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4,383 |
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(512 |
) |
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Foreign currency translation adjustments
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(27,259 |
) |
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16,104 |
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(6,051 |
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2,745 |
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Other comprehensive income (loss)
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(15,587 |
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10,095 |
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|
673 |
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3,314 |
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Comprehensive income
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$ |
51,952 |
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$ |
62,300 |
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$ |
67,424 |
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$ |
54,143 |
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Accumulated other comprehensive income, net of related tax effects, consisted of the following (in thousands):
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September 30,
2011 |
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December 31,
2010 |
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September 30,
2010 |
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Unrealized holding gains (losses) on available-for-sale securities
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$ |
(2 |
) |
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$ |
36 |
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$ |
73 |
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Unrealized holding gains (losses) on derivative transactions
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5,091 |
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(1,671 |
) |
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(598 |
) |
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Foreign currency translation adjustments
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42,299 |
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48,350 |
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47,283 |
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Accumulated other comprehensive income
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$ |
47,388 |
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$ |
46,715 |
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$ |
46,758 |
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