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Comprehensive income (loss)
 6 Months Ended
Jun. 30, 2012
Comprehensive income (loss)  
Comprehensive income (loss)

10.              Comprehensive income (loss)

 

Accumulated other comprehensive income is comprised of foreign currency translation adjustments and the effective portion of the gain (loss) on the Company’s cross-currency swap, which is designated and accounted for as a cash flow hedge (See Note 8). The components of and changes in accumulated other comprehensive income were as follows:

 

(US$ in thousands)

 

Foreign
Currency
Translation
Adjustments

 

Fair Value of
Cross-Currency
Swap

 

Accumulated
Other
Comprehensive
Income

 

Balance at December 31, 2011

 

$

1,893

 

$

(132

)

$

1,761

 

Unrealized gain on cross-currency swap, net of tax of $(44)

 

—

 

(76

)

(76

)

Foreign currency translation adjustment (1)

 

(1,597

)

—

 

(1,597

)

 

 

 

 

 

 

 

 

Balance at June 30, 2012

 

$

296

 

$

(208

)

$

88

 

 

 

(1)       As the cash generally remains permanently invested in the non-U.S. dollar denominated foreign subsidiaries, no deferred taxes are recognized on the related foreign currency translation adjustment.

 

Comprehensive income (loss) was comprised of the following components:

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

(US$ in thousands)

 

2012

 

2011

 

2012

 

2011

 

Net income (loss)

 

$

11,205

 

$

9,958

 

$

23,221

 

$

(25,843

)

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on cross-currency swap, net of tax

 

(585

)

199

 

(76

)

1,301

 

Foreign currency translation adjustment

 

(3,798

)

1,636

 

(1,597

)

3,624

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive income (loss)

 

$

6,822

 

$

11,793

 

$

21,548

 

$

(20,918

)