CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS; BANK OVERDRAFT

3 Months Ended

Mar. 31, 2012

CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS; BANK OVERDRAFT

CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS; BANK OVERDRAFT

4. CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS; BANK OVERDRAFT

        The Company's cash and cash equivalents and short-term investments comprise bank accounts and term deposits. Deposits with an original maturity ranging from 91 to 365 days are classified in short-term investments. Below are breakdowns of cash and cash equivalents and short-term investments:

	December 31, 2011		March 31, 2012
Cash and cash equivalents:
Russian ruble bank accounts	$	6,434	$	10,916
US dollar bank accounts	$	4,479	$	18,316
Other	$	1,418	$	1,425
Total cash and cash equivalents	$	12,331	$	30,657

	December 31, 2011			March 31, 2012
	Annual interest rate	Amount		Annual interest rate	Amount
Short-term investments:
Ruble-denominated deposits	4.1% - 8.7%	$	102,068	5.0% - 8.7%	$	87,867
US dollar-denominated deposits	2.1% - 2.2%		15,165	0.9% - 2.6%		10,948
Total Short-term investments		$	117,233		$	98,815

        Bank overdraft—In October 2011, the Company signed a Ruble-denominated overdraft agreement with Alfa Bank bearing annual interest at 7.2% with a credit limit of approximately $34,000. As of December 31, 2011 and March 31, 2012, the Company had an overdraft position of $16,941 and $18,457, respectively, that is presented as a current liability separately on the Company's balance sheets.