Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2016

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

(13) Accumulated Other Comprehensive Income

The components and allocated tax effects of accumulated other comprehensive income for the periods ended June 30, 2016 and December 31, 2015 are as follows (dollars in thousands):

	Before Tax Effects			Tax Effects		After Tax Effects
June 30, 2016
Currency translation adjustment	$	(24,274	)	$	—	$	(24,274	)
Total	$	(24,274	)	$	—	$	(24,274	)
December 31, 2015
Currency translation adjustment	$	(19,495	)	$	—	$	(19,495	)
Total	$	(19,495	)	$	—	$	(19,495	)

Deferred taxes have not been provided on the cumulative undistributed earnings of foreign subsidiaries or the cumulative translation adjustment related to those investments through 2015 since the Company recognized a current tax expense in 2015 on the deemed dividend on all such cumulative undistributed earnings and translation adjustments as part of the amendment to the capital structure of its operations outside of North America. Deferred taxes have not been provided on the cumulative undistributed earnings of foreign subsidiaries or the cumulative translation adjustment related to those investments for periods after 2015 since there is currently no need to repatriate those funds from certain foreign subsidiaries to the U.S. by way of dividends.