Foreign Currency Translation

9 Months Ended

Sep. 30, 2015

13.

Foreign Currency Translation

The accumulated other comprehensive loss account in stockholders’ equity of $252,276 and $144,772 at September 30, 2015 and December 31, 2014, respectively, includes cumulative foreign currency adjustments of $253,123 and $147,930, respectively, from translating the financial statements of the Company’s international subsidiaries, and also includes the change in fair values of the Company’s interest rate swap agreements that are designated as hedges and the change in fair value of the Company’s available-for-sale securities.

All foreign countries where the Company has operations are non-highly inflationary, and the local currency is the same as the functional currency in all of the locations. Thus, any fluctuation in the currency results in a cumulative foreign currency translation adjustment recorded to accumulated other comprehensive loss.

Below is a summary of the impact of translating the September 30, 2015 financial statements of the Company’s international subsidiaries:


	Exchange Rate as of				Other Comprehensive Loss for The Nine Months Ended
Country	September 30, 2015		December 31, 2014		September 30, 2015
Brazil		4.10		2.69	$	(80,333	)
Colombia		3,121.9		2,392.4		(7,777	)
Argentina		9.42		8.55		(7,530	)
Chile		704.65		606.23		(6,153	)
All other						(3,400	)

					$	(105,193	)

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

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