Foreign Currency Translation

3 Months Ended

Mar. 31, 2016

Foreign Currency Translation

13. Foreign Currency Translation

The accumulated other comprehensive loss account in stockholders’ equity of $260,047 and $271,686 at March 31, 2016 and December 31, 2015, respectively, includes cumulative foreign currency adjustments of $259,633 and $273,404, 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 March 31, 2016 financial statements of the Company’s international subsidiaries:

					Other
					Comprehensive
					Income (Loss) for The
	Exchange Rate as of				Three Months Ended
Country	March 31, 2016		December 31, 2015		March 31, 2016
Brazil		3.60		3.96	$	18,298
Argentina		14.62		12.95		(7,151	)
Colombia		3,022.35		3,149.47		1,109
Chile		691.65		709.16		1,106
Peru		3.42		3.46		444
All other						(35	)
					$	13,771