Foreign Currency Translation

6 Months Ended

Jun. 30, 2016

Foreign Currency Translation

12. Foreign Currency Translation

The accumulated other comprehensive loss account in stockholders’ equity of $234,992 and $271,686 at June 30, 2016 and December 31, 2015, respectively, includes cumulative foreign currency adjustments of $234,757 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 June 30, 2016 financial statements of the Company’s international subsidiaries:

	Exchange Rate as of				Other Comprehensive Income (Loss) for The Six Months Ended June 30, 2016
Country	June 30, 2016		December 31, 2015
Brazil		3.23		3.96	$	41,953
Argentina		14.97		12.95		(8,797	)
Colombia		2,916.15		3,149.47		2,147
Chile		672.50		709.16		2,352
Peru		3.34		3.46		1,417
All other						(425	)
					$	38,647