COMPREHENSIVE INCOME/(LOSS)

3 Months Ended

Mar. 31, 2013

COMPREHENSIVE INCOME/(LOSS)

8. COMPREHENSIVE INCOME/(LOSS)

Comprehensive income/(loss) is defined as all changes in equity during a period except those resulting from investments by owners and distributions to owners. Comprehensive income/(loss) includes net income/(loss) adjusted by foreign currency translation adjustments. The foreign translation (losses)/gains on the re-measurements from foreign currencies to U.S. dollars are classified separately as foreign currency translation adjustment within accumulated other comprehensive income included in stockholders’ equity.

As of March 31, 2013, functional currencies exchange rates used to translate the balance sheet strengthened against the U.S. dollar as compared to the exchange rates as of December 31, 2012 and as a result $23.4 million of foreign currency translation adjustment was recognized as part of total comprehensive income.