Receivables

3 Months Ended

Mar. 31, 2012

Receivables [Abstract]

RECEIVABLES

RECEIVABLES

Receivables consist of the following (in thousands):

	March 31, 2012		December 31, 2011
Receivables - current portion
Accounts receivable - trade	$	8,278	$	14,366
Refundable income tax	11,449		11,480
Refundable value added tax	60,153		52,968
Accounts receivable - other	4,902		4,683
	$	84,782	$	83,497
Receivables - non-current portion
Refundable value added tax	$	41,641	$	40,314

Trade receivables and other receivable balances recorded in other current assets are reported at outstanding principal amounts, net of an allowance for doubtful accounts. Management evaluates the collectability of receivable account balances to determine the allowance, if any. The Company determined that no allowance against its receivable balances at March 31, 2012, or December 31, 2011 was necessary.

Taxes paid to foreign governments that are refundable to the Company are classified as “Refundable value added tax” at the face value of the amount of the tax refund due. Refunds expected to be received in the next twelve months are classified as “current” and amounts that are expected to be received after twelve months are classified as “non-current”.