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Shareholders' Equity
 9 Months Ended
Sep. 30, 2013
Shareholders' Equity  
Shareholders' Equity

4.              Shareholders’ Equity

 

Stock Repurchase Programs

 

In October 2008, our Board of Directors authorized a $50.0 million common stock repurchase program.  During the three months ended September 30, 2013, we repurchased 536 thousand shares of our common stock for an aggregate value of $20.0 million.  The remaining amount available under our common stock repurchase program is $30.0 million.

 

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss

 

Our other comprehensive income (loss), consisting of foreign currency translation adjustments related to our subsidiaries that have a functional currency other than the U.S. dollar and cash flow hedges, was as follows (in thousands):

 

 

 

Foreign

 

 

 

Accumulated

 

 

 

Currency

 

 

 

Other

 

 

 

Translation

 

Cash

 

Comprehensive

 

 

 

Adjustments

 

Flow Hedges

 

Loss

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2012

 

$

(16,130

)

$

112

 

$

(16,018

)

Other comprehensive loss

 

(8,975

)

(85

)

(9,060

)

Balance as of September 30, 2013

 

$

(25,105

)

$

27

 

$

(25,078

)

 

The foreign currency translation adjustment losses for the nine months ended September 30, 2013 were primarily due to the strengthening of the U.S. dollar as compared to the Brazilian Real.

 

Additional information relating to our cash flow hedges for the periods presented is included in Note 2 - Derivatives.