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

9 Months Ended

Sep. 30, 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		September 30, 2012
Cash and cash equivalents:
Russian ruble bank accounts	$	6,434	$	9,446
US dollar bank accounts	$	4,479	$	12,169
Other	$	1,418	$	2,386
Total cash and cash equivalents	$	12,331	$	24,001

	December 31, 2011			September 30, 2012
	Annual interest rate	Amount		Annual interest rate	Amount
Short-term investments:
Ruble-denominated deposits	4.1%-8.7%	$	102,068	5.52%-8.4%	$	80,148
US dollar-denominated deposits	2.1%-2.2%		15,165			—
Total Short-term investments		$	117,233		$	80,148

        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 the Company had an overdraft position of $16,941, which is presented as a current liability separately on the Company's balance sheets. In July 2012, the Company signed a new Ruble-denominated overdraft agreement with Alfa Bank bearing annual interest at the variable Mosprime rate +2.21% with a credit limit of approximately $32,000. As of September 30, 2012, the balance of the overdraft was $7,756.