7. CONTROLLING AND NONCONTROLLING INTEREST

The following tables summarize the changes in equity attributable to controlling and noncontrolling interest (in thousands):


	Fossil, Inc.						Total
	Stockholders'			Noncontrolling			Stockholders'
	Equity			Interest			Equity
Balance at December 31, 2011	$	1,105,929		$	10,917		$	1,116,846

Net income		58,140			2,932			61,072
Currency translation adjustments		10,071			0			10,071
Unrealized gain on securities available for sale		50			0			50
Forward contracts hedging intercompany foreign currency payments — change in fair values		(1,349	)		0			(1,349	)
Common stock issued upon exercise of stock options and stock appreciation rights		4,352			0			4,352
Tax benefit derived from stock-based compensation		9,901			0			9,901
Distribution of noncontrolling interest earnings		0			(3,786	)		(3,786	)
Acquisition of common stock		(67,878	)		0			(67,878	)
Stock-based compensation expense		3,144			0			3,144

Balance at March 31, 2012	$	1,122,360		$	10,063		$	1,132,423


	Fossil, Inc.						Total
	Stockholders'			Noncontrolling			Stockholders'
	Equity			Interest			Equity
Balance at January 1, 2011	$	1,044,118		$	7,590		$	1,051,708

Net income		55,822			2,244			58,066
Currency translation adjustments		19,326			0			19,326
Unrealized loss on securities available for sale		(436	)		0			(436	)
Forward contracts hedging intercompany foreign currency payments — change in fair values		(4,847	)		0			(4,847	)
Common stock issued upon exercise of stock options and stock appreciation rights		3,502			0			3,502
Tax benefit derived from stock-based compensation		4,791			0			4,791
Distribution of noncontrolling interest earnings		0			(3,772	)		(3,772	)
Common stock forfeitures put to treasury		(3,280	)		0			(3,280	)
Acquisition of common stock		(94,521	)		0			(94,521	)
Stock-based compensation expense		1,190			0			1,190

Balance at April 2, 2011	$	1,025,665		$	6,062		$	1,031,727