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Note 16 - Accumulated Other Comprehensive Income ("AOCI")

3 Months Ended

Mar. 31, 2014

Accumulated Other Comprehensive Income Loss Disclosure [Abstract]

Accumulated Other Comprehensive Income Loss Disclosure [Text Block]

16. Accumulated Other Comprehensive Income (“AOCI”)

The following table displays the change in the components of accumulated other comprehensive income for the three months ended March 31, 2013 and 2014:

	Foreign Currency Translation Adjustments			Unrealized Gains on Available-for-Sale Investments		Total
Balance as of January 1, 2013	$	(85,404	)	$	19,222	$	(66,182	)
Other comprehensive income before reclassifications		31,737			6,767		38,504
Amounts reclassified from AOCI		-			-		-
Other comprehensive income		31,737			6,767		38,504
Balance as of March 31, 2013	$	(53,667	)	$	25,989	$	(27,678	)

	Foreign Currency Translation Adjustments			Unrealized Gains on Available-for-Sale Investments			Total
Balance as of January 1, 2014	$	(90,977	)	$	25,995		$	(64,982	)
Other comprehensive income before reclassifications		(8,210	)		(3,678	)		(11,888	)
Amounts reclassified from AOCI		-			-			-
Net current-period other comprehensive income		(8,210	)		(3,678	)		(11,888	)
Balance as of March 31, 2014	$	(99,187	)	$	22,317		$	(76,870	)

At March 31, 2014 the Company had a net $99.2 million, after noncontrolling interests of $5.8 million, of unrealized cumulative translation adjustment (“CTA”) losses relating to its investments in foreign entities. The CTA losses are comprised of $19.8 million of unrealized gains relating to its Canadian investments and $119.0 million of unrealized losses relating to its Latin American investments, $108.5 million of which is related to Mexico. The CTA losses result from currency fluctuations between local currency and the U.S. dollar during the period in which the Company held its investment. CTA amounts are subject to future changes resulting from ongoing fluctuations in the respective foreign currency exchange rates. Under U.S. GAAP, the Company is required to release CTA balances into earnings when the Company has substantially liquidated its investment in a foreign entity. During 2013, the Company began selling properties within its Latin American portfolio. The Company may, in the near term, substantially liquidate all of its investments in this portfolio which will require the then unrealized loss on foreign currency translation to be recognized as a charge against earnings.