9. 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		115,478			5,982			121,460
Currency translation adjustments		(5,610	)		0			(5,610	)
Unrealized gain on securities available for sale		29			0			29
Forward contracts hedging intercompany foreign currency payments—change in fair values		908			0			908
Common stock issued upon exercise of stock options and stock appreciation rights		4,420			0			4,420
Tax benefit derived from stock-based compensation		10,080			0			10,080
Distribution of noncontrolling interest earnings		0			(4,096	)		(4,096	)
Business acquisitions		19,899			81			19,980
Acquisition of common stock		(127,032	)		0			(127,032	)
Stock-based compensation expense		7,832			0			7,832

Balance at June 30, 2012	$	1,131,933		$	12,884		$	1,144,817


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

Net income		107,182			4,914			112,096
Currency translation adjustments		29,907			0			29,907
Unrealized loss on securities available for sale		(248	)		0			(248	)
Forward contracts hedging intercompany foreign currency payments—change in fair values		(6,870	)		0			(6,870	)
Common stock issued upon exercise of stock options and stock appreciation rights		7,728			0			7,728
Tax benefit derived from stock-based compensation		9,333			0			9,333
Distribution of noncontrolling interest earnings		0			(3,772	)		(3,772	)
Common stock forfeitures put to treasury		(5,319	)		0			(5,319	)
Acquisition of common stock		(155,350	)		0			(155,350	)
Stock-based compensation expense		5,910			0			5,910

Balance at July 2, 2011	$	1,036,391		$	8,732		$	1,045,123