Other Comprehensive Income

6 Months Ended

Jun. 30, 2011

Other Comprehensive Income

Other Comprehensive Income

(14) Other Comprehensive Income

The components and allocated tax effects of other comprehensive income for the periods ended June 30, 2011 and December 31, 2010 are as follows (dollars in thousands):

	Before Tax Effects			Tax Effects			After Tax Effects
June 30, 2011
Currency translation adjustment	$	14,549		$	—		$	14,549
Unrealized holding gain/(loss) on securities, available-for-sale
Beginning balance	144			(58		)	86
Less: Reclassification adjustment for gains recognized in net income	(144		)	58			(86		)
Net unrealized holding gain/(loss) on securities, available-for-sale	—			—			—
Total	$	14,549		$	—		$	14,549
December 31, 2010
Currency translation adjustment	$	10,407		$	—		$	10,407
Unrealized holding gain/(loss) on securities, available-for-sale	144			(58		)	86
Total	$	10,551		$	(58	)	$	10,493

Unrealized holding gains and losses on securities, available-for-sale relates to shares of NYSE Euronext, Inc. the Company received as part of the merger of the New York Stock Exchange and Archipelago Holdings Inc. on March 9, 2006.  During the first quarter of 2011, the Company sold all of the available-for-sale securities it held for gross proceeds of $2.1 million and recorded a pre-tax gain of $0.5 million.

Deferred taxes have not been provided on the cumulative undistributed earnings of foreign subsidiaries or the cumulative translation adjustment related to those investments since such amounts are expected to be reinvested indefinitely.