Foreign Currency Translation

9 Months Ended

Sep. 30, 2016

Foreign Currency Translation

12. Foreign Currency Translation

The accumulated other comprehensive loss account in stockholders’ equity of $238,672 and $271,686 at September 30, 2016 and December 31, 2015, respectively, includes cumulative foreign currency adjustments of $238,430 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 September 30, 2016 financial statements of the Company’s international subsidiaries:

					Other
					Comprehensive
					Income (Loss) for The
	Exchange Rate as of				Nine Months Ended
Country	September 30, 2016		December 31, 2015		September 30, 2016
Brazil		3.26		3.96	$	40,331
Argentina		15.33		12.95		(10,452	)
Colombia		2,879.95		3,149.47		2,544
Chile		664.91		709.16		2,958
All other						(407	)
					$	34,974