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Shareholders' Equity
 12 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure

Note 10 — Shareholders’ Equity 

 

Our amended and restated Articles of Incorporation provide for authorized Common Stock of 240,000,000 shares with no stated par value per share and 5,000,000 shares of preferred stock, $0.01 par value per share issuable in one or more series.

 

The components of accumulated other comprehensive loss as of December 31, 2012 and 2011 are as follows (in thousands): 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

2011

 

 

 

 

 

 

 

Cumulative foreign currency translation adjustment

$
(15,667)

$
(22,958)

 

Unrealized gain on hedges, net (1)

 

 -

 
12,941 

 

Accumulated other comprehensive loss

$
(15,667)

$
(10,017)

 

 

 

 

 

 

 

 

(1) Amount at December 31, 2011 is net of deferred income tax liabilities totaling  $7.0 million.  In December 2012, all of our oil and natural gas commodity derivative contracts no longer qualified for hedge accounting following the announcement of the sale of ERT (Note 2).