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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 9 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table sets forth the changes in the components of accumulated other comprehensive income for 2015, 2014 and 2013:

 

In thousands

 

 

 

Currency Translation Adjustments

 

 

Unrealized Gains

(Losses) on Cash

Flow Hedges

 

 

Accumulated Other

Comprehensive

Income/ (Loss)

 

Beginning balance at January 1, 2013

 

$

(37,292

)

 

$

(1,772

)

 

$

(39,064

)

Period change

 

 

(17,718

)

 

 

314

 

 

 

(17,404

)

Ending balance at December 31, 2013

 

$

(55,010

)

 

$

(1,458

)

 

$

(56,468

)

Period change

 

 

(80,221

)

 

 

(1,730

)

 

 

(81,951

)

Ending balance at December 31, 2014

 

$

(135,231

)

 

$

(3,188

)

 

$

(138,419

)

Period change

 

 

(140,809

)

 

 

(3,403

)

 

 

(144,212

)

Ending balance at December 31, 2015

 

$

(276,040

)

 

$

(6,591

)

 

$

(282,631

)

 

The net tax impact of the unrealized gains/ (losses) on cash flow hedges in accumulated other comprehensive income at December 31, 2015, 2014 and 2013 was $2.2 million, $0.6 million, and $0.2 million, respectively. Translation adjustments are not tax-effected as the Company’s net investment in foreign subsidiaries and all related foreign earnings are deemed permanently invested.