Note 5 - Comprehensive Income

6 Months Ended

Dec. 31, 2011

Note 5 - Comprehensive Income Disclosure

5. Comprehensive Income

Comprehensive income includes changes in fair value on foreign currency and fuel derivatives, which qualify for hedge accounting. A reconciliation of net income and comprehensive income follows (in thousands):

	Three months ended					Six months ended
	December 31,					December 31,
	2011			2010		2011			2010

Net income	$	5,448		$	2,858	$	10,820		$	7,279
Unrealized gain (loss) on fuel derivative instruments		509			316		(140	)		1,176
Unrealized gain (loss) on currency derivative instruments		61			50		(376	)		356
Unrealized gain (loss) on available for sale securities		(15	)		---		265			---
Foreign currency translation adjustments		(286	)		524		(3,876	)		1,067

Comprehensive income	$	5,717		$	3,748	$	6,693		$	9,878

- Definition

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References

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+ Details