ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The table below provides the balances for each classification of accumulated other comprehensive income (loss) as of December 31, 2013 and 2012 (in thousands):
|
| | | | | | | |
| December 31, 2013 | | December 31, 2012 |
Foreign currency translation adjustments (1) | $ | 84,598 |
| | $ | (23,786 | ) |
Net unrealized gain on investment securities (2) | 131 |
| | 110 |
|
Accumulated other comprehensive income (loss) | $ | 84,729 |
| | $ | (23,676 | ) |
_____________________________
(1) Includes a net loss of $58.7 million after tax ($98.8 million before tax) and a net gain of $23.8 million after tax ($38.7 million before tax) from fair value adjustments at December 31, 2013 and 2012, respectively, associated with net investment hedges. The remaining balance in currency translation adjustments excludes income taxes due to the Company's practice and intention to reinvest the earnings of its foreign subsidiaries in those operations.
(2) The unrealized gains before tax at December 31, 2013 and 2012 were $0.2 million for each period.
