RECONCILIATION OF TOTAL EQUITY

9 Months Ended

Sep. 30, 2013

RECONCILIATION OF TOTAL EQUITY

RECONCILIATION OF TOTAL EQUITY

9.  RECONCILIATION OF TOTAL EQUITY

Total equity was as follows (in thousands):

	Nine months Ended September 30,
	2012									2013
	Atlantic Tele- Network, Inc.			Non-Controlling Interests			Total Equity			Atlantic Tele- Network, Inc.			Non-Controlling Interests			Total Equity
Equity, beginning of period	$	294,266		$	58,264		$	352,530		$	334,146		$	60,094		$	394,240
Stock-based compensation	2,585			—			2,585			3,419			—			3,419
Comprehensive income:
Net income	35,817			2,900			38,717			293,859			35,234			329,093
Other comprehensive income(loss)-Gain (loss) on interest rate derivative (net of tax)	(535		)	—			(535		)	6,985			—			6,985
Total comprehensive income	35,282			2,900			38,182			300,844			35,234			336,078
Issuance of common stock upon exercise of stock options	1,240			—			1,240			6,778			—			6,778
Dividends declared on common stock	(11,068		)	—			(11,068		)	(11,982		)	—			(11,982		)
Distributions to non-controlling interests	—			(1,294		)	(1,294		)	—			(5,532		)	(5,532		)
Investments made by minority shareholders	—			1,040			1,040			—			135			135
Sale of non-controlling interests	—			—			—			—			(13,634		)	(13,634		)
Repurchase of non-controlling interests	—			(80		)	(80		)	—			—			—
Purchase of common shares	(202		)	—			(202		)	(6,615		)	—			(6,615		)
Equity, end of period	$	322,103		$	60,830		$	382,933		$	626,590		$	76,297		$	702,887

Changes in accumulated other comprehensive income (loss), by component, were as follows (in thousands):

	Interest Rate Derivative Agreements			Projected Pension Benefit Obligation			Translation Adjustment			Total
Balance at December 31, 2012	$	(6,959	)	$	(1,318	)	$	(20	)	$	(8,297	)
Other comprehensive income before reclassifications, net of taxes of $2.5 million (1)	3,753			—			—			3,735
Amounts reclassified from accumulated other comprehensive income, net of taxes of $2.0 million	3,206			—			—			3,206
Balance at September 30, 2013	$	—		$	(1,318	)	$	(20	)	$	(1,312	)

(1) Includes a reclassification unrealized loss on interest rate derivative contracts of $3.1 million.