RECONCILIATION OF TOTAL EQUITY

6 Months Ended

Jun. 30, 2013

RECONCILIATION OF TOTAL EQUITY

RECONCILIATION OF TOTAL EQUITY

8.  RECONCILIATION OF TOTAL EQUITY

Total equity was as follows (in thousands):

	Six Months Ended June 30,
	2012									2013
	Atlantic Tele- Network, Inc.			Non-Controlling Interests			Total Equity			Atlantic Tele- Network, Inc.			Non-Controlling Interests			Total Equity
Equity, beginning of period	$	294,266		$	58,264		$	352,530		$	334,146		$	60,094		$	394,240
Stock-based compensation	1,908			—			1,908			2,071			—			2,071
Comprehensive income:
Net income	19,851			853			20,704			17,633			3,706			21,339
Other comprehensive income(loss)-Gain (loss) on interest rate swap (net of tax)	149			—			149			3,265			—			3,265
Total comprehensive income	20,000			853			20,853			20,898			3,706			24,604
Issuance of common stock upon exercise of stock options	946			—			946			3,955			—			3,955
Dividends declared on common stock	(7,119		)	—			(7,119		)	(7,884		)	—			(7,884		)
Distributions to non-controlling interests	—			(929		)	(929		)	—			(3,096		)	(3,096		)
Investments made by minority shareholders	—			805			805			—			135			135
Repurchase of non-controlling interests	—			(80		)	(80		)	—			—			—
Purchase of common shares	(184		)	—			(184		)	(3,640		)	—			(3,640		)
Equity, end of period	$	309,817		$	58,913		$	368,730		$	349,546		$	60,839		$	410,385

Changes in accumulated other comprehensive loss, by component, were as follows (in thousands):

	Interest Rate Swap Agreements			Projected Pension Benefit Obligation			Translation Adjustment			Total
Balance at December 31, 2012	$	(6,959	)	$	(1,318	)	$	(20	)	$	(8,297	)
Other comprehensive income before reclassifications, net of taxes of $2.2 million (1)	3,265			—			—			3,265
Balance at June 30, 2013	$	(3,694	)	$	(1,318	)	$	(20	)	$	(5,032	)

(1) Includes a reclassification to interest expense of $2.1 million, net of taxes.