STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2016

Stockholders Equity Note [Abstract]

Stockholders' Equity

NOTE 11—STOCKHOLDERS’ EQUITY

The changes in the number of ordinary shares outstanding and treasury shares held by the Company are as follows:

	Three Months Ended March 31,
	2016			2015
Ordinary shares outstanding
Beginning balance		239,016,924			237,809,823
Common stock issued		1,907,215			990,039
Purchase of common stock		(569,999	)		(300,553	)
Ending balance		240,354,140			238,499,309
Ordinary shares held as Treasury shares
Beginning balance		7,824,204			7,400,027
Purchase of common stock		569,999			300,553
Retirement of common stock		(373,776	)		-
Ending balance		8,020,427			7,700,580
Ordinary shares issued at the end of the period		248,374,567			246,199,889

Accumulated Other Comprehensive Income (Loss) (AOCI)

The components of AOCI included in stockholders’ equity are as follows:  

	March 31, 2016			December 31, 2015
	(In thousands)
Foreign currency translation adjustments (“FCTA”)	$	(33,268	)	$	(29,925	)
Net unrealized gain on investments		252			247
Net loss on derivative financial instruments		(33,473	)		(64,277	)
Accumulated other comprehensive loss	$	(66,489	)	$	(93,955	)

During the first quarter of 2016 we recorded a $7 million adjustment decreasing FCTA with an offsetting reduction of Loss on foreign currency, net to correct amounts accounted for inappropriately in a previous period.

The following table presents the components of AOCI and the amounts that were reclassified during the periods indicated:

	Foreign currency translation adjustments			Unrealized holding gain (loss) on investments		Gain (loss) on derivative(1)				TOTAL
	(In thousands)
Balance, January 1, 2015	$	(15,212	)	$	241	$	(82,837	)		$	(97,808	)
Other comprehensive income (loss) before reclassification		(2,042	)		12		(36,690	)			(38,720	)
Amounts reclassified from AOCI		-			-		19,838		(2)		19,838
Net current period other comprehensive income (loss)		(2,042	)		12		(16,852	)			(18,882	)
Balance, March 31, 2015	$	(17,254	)	$	253	$	(99,689	)		$	(116,690	)
Balance, January 1, 2016	$	(29,925	)	$	247	$	(64,277	)		$	(93,955	)
Other comprehensive income (loss) before    reclassification		(3,343	)		5		20,534				17,196
Amounts reclassified from AOCI		-			-		10,270		(2)		10,270
Net current period other comprehensive income (loss)		(3,343	)		5		30,804				27,466
Balance, March 31, 2016	$	(33,268	)	$	252	$	(33,473	)		$	(66,489	)

⁽¹⁾ Refer to Note 9 for additional details.

⁽²⁾ Reclassified to Cost of operations and Gain on foreign currency, net.