RESTATEMENT OF FINANCIAL STATEMENTS:

3 Months Ended

Sep. 30, 2012

RESTATEMENT OF FINANCIAL STATEMENTS:

RESTATEMENT OF FINANCIAL STATEMENTS:

2. RESTATEMENT OF FINANCIAL STATEMENTS:

Subsequent to September 30, 2012, the Company determined that the $24.0 million foreign currency gain recognized during the quarter ended September 30, 2012 was understated by $9.9 million as the actual net gain was $33.8 million.  As a result, the Company has restated its interim Condensed Consolidated Financial Statements for the three months ended September 30, 2012 to correct the error.

The following table presents the impact of the restatement adjustment on the Company’s Condensed Consolidated Balance Sheet as of September 30, 2012:

	September 30, 2012
	As Previously Reported		Effect of Restatement			Restated
	(Dollars in thousands)
Accumulated other comprehensive income	$	38,173	$	(9,886	)	$	28,287
Retained earnings	509,255		9,886			519,141

The following table presents the impact of the restatement adjustment on the Company’s Condensed Consolidated Statement of Operations for the three months ended September 30, 2012:

	For the Three Months Ended, September 30, 2012
	As Previously Reported		Effect of Restatement		Restated
	(Dollars in thousands, except per share data amounts)
Interest income and other, net	$	24,726	$	9,886	$	34,612
Income from continuing operations before income taxes and equity in income of affiliated companies	27,170		9,886		37,056
Income from continuing operations	24,761		9,886		34,647
Net income	28,538		9,886		38,424
Net income per share:
Basic:
Income from continuing operations	0.43		0.17		0.60
Net income per share, basic	0.50		0.17		0.67
Diluted:
Income from continuing operations	0.39		0.14		0.54		(1)
Net income per share, diluted	0.45		0.14		0.59

(1) Total is a recalculation; line items calculated individually may not sum to total due to rounding.

The following table presents the impact of the restatement adjustment on the Company’s Condensed Consolidated Statement of Comprehensive Income for the three months ended September 30, 2012:

	For the Three Months Ended, September 30, 2012
	As Previously Reported			Effect of Restatement			Restated
	(Dollars in thousands)
Net income	$	28,538		$	9,886		$	38,424
Reclassifications associated with liquidation of foreign entities	(23,956		)	(9,886		)	(33,842		)
Other comprehensive loss	(16,941		)	(9,886		)	(26,827		)

The restatement adjustments did not impact the total net cash flows from operating, financing, or investing activities in the Condensed Consolidated Statement of Cash Flows for the three months ended September 30, 2012.