ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2012

ACCUMULATED OTHER COMPREHENSIVE LOSS

ACCUMULATED OTHER COMPREHENSIVE LOSS

14.   ACCUMULATED OTHER COMPREHENSIVE LOSS

        The components of accumulated other comprehensive loss as of March 31, 2012, were as follows:

	Foreign Currency Translation Adjustment			Net Unrealized Holding Gain (Loss) on Available- For-Sale Equity Securities			Net Unrealized Holding Gain (Loss) on Available- For-Sale Debt Securities			Acquisition of Noncontrolling Interest		Pension Adjustment			Total
Balance, January 1, 2012	$	(205,521	)	$	1,634		$	(204	)	$	2,206	$	(545	)	$	(202,430	)
Foreign currency translation adjustment		174,676			—			—			—		—			174,676
Reclassification to net loss(1)		—			(1,634	)		—			—		—			(1,634	)
Net unrealized holding loss on available-for-sale debt securities		—			—			(13	)		—		—			(13	)
Pension adjustment(2)		—			—			—			—		(123	)		(123	)
Balance, March 31, 2012	$	(30,845	)	$	—		$	(217	)	$	2,206	$	(668	)	$	(29,524	)

(1)

Included in Gain on investments, net.

(2)

Reflects changes in defined benefit obligations and related plan assets of legacy Valeant defined benefit pension plans.

• Income taxes are not provided for foreign currency translation adjustments arising on the translation of the Company's operations having a functional currency other than the U.S. dollar, except to the extent of translation adjustments related to the Company's retained earnings for foreign jurisdictions in which the Company is not considered to be permanently reinvested. Income taxes allocated to other components of other comprehensive income, including reclassification adjustments, were not material.