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COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2011

COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12. COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The table below provides the detail of comprehensive income for the three and six months ended June 30, 2011 and 2010 (in thousands):

		Three Months Ended						Six Months Ended
		June 30, 2011			June 30, 2010			June 30, 2011			June 30, 2010
Net income applicable to common stockholders		$	256,368		$	114,957		$	361,158		$	168,832
Net unrealized gain (loss) on investment securities		99			34			(485		)	250
Currency translation gain (loss)		9,017			(46,939		)	52,850			(91,923		)
		$	265,484		$	68,052		$	413,523		$	77,159

The table below provides the balances for each classification of accumulated other comprehensive income (loss) as of June 30, 2011 and December 31, 2010 (in thousands):

		June 30, 2011			December 31, 2010
Foreign currency translation adjustments (1)		$	19,443		$	(33,407	)
Net unrealized gain on investment securities (2)		33			518
Accumulated other comprehensive income (loss)		$	19,476		$	(32,889	)

(1) Includes net losses from fair value adjustments at June 30, 2011 of $12,804 after tax ($20,225 before tax) and net gains from fair value adjustments at December 31, 2010 of $15,827 after tax ($27,138 before tax) associated with net investment hedges (see Note 5). The remaining balance in currency translation adjustments excludes income taxes due to the Company’s practice and intention to reinvest the earnings of its foreign subsidiaries in those operations.

(2) The unrealized gain before tax at June 30, 2011 and December 31, 2010 was $105 and $714, respectively.

This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.

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