RECONCILIATION OF TOTAL EQUITY

9 Months Ended

Sep. 30, 2011

RECONCILIATION OF TOTAL EQUITY

RECONCILIATION OF TOTAL EQUITY

8.  RECONCILIATION OF TOTAL EQUITY

Total equity was as follows (in thousands):

	Nine MonthsEndedSeptember30,
	2010									2011
	AtlanticTele- Network,Inc.			Non-Controlling Interests			TotalEquity			AtlanticTele- Network,Inc.			Non-Controlling Interests			Total Equity
Equity, beginning of period	$	255,746		$	26,687		$	282,433		$	283,768		$	45,268		$	329,036
Stock based compensation	1,537			—			1,537			2,660			—			2,660
Comprehensive income:
Net income	35,174			(212		)	34,962			17,648			866			18,514
Other comprehensive income(loss)- Translation Adjustment	(8		)	—			(8		)	13			—			13
Loss on interest rate swap (net of tax)	(3,057		)	—			(3,057		)	(2,385		)	—			(2,385		)
Total comprehensive income	32,109			(212		)	31,897			15,276			866			16,142
Issuance of common stock upon exercise of stock options	1,552			—			1,552			193			—			193
Dividends declared on common stock	(9,506		)	—			(9,506		)	(10,320		)	—			(10,320		)
Non-controlling interests of acquired business	—			17,947			17,947			—			—			—
Distributions to non-controlling interests	—			(1,237		)	(1,237		)	—			(2,531		)	(2,531		)
Investments made by minority shareholders	—			3,338			3,338			—			3,684			3,684
Change in equity ownership of consolidated subsidiaries	—			—			—			3,475			11,923			15,398
Purchase of common shares	—			—			—			(129		)	—			(129		)
Equity, end of period	$	281,438		$	46,523		$	327,961		$	294,923		$	59,210		$	354,133