STERICYCLE INC | 2013 | FY | 3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table sets forth the changes in the components of accumulated other comprehensive income for 2013, 2012 and 2011:
In thousands
 
 
Currency Translation Adjustments
 
Unrealized Gains (Losses) on Cash Flow Hedges
 
Accumulated Other Comprehensive Income/ (Loss)
Beginning balance January 1, 2011
 
$
(14,128
)
 
$
(2,741
)
 
$
(16,869
)
Period change
 
(29,456
)
 
341

 
(29,115
)
Ending balance December 31, 2011
 
$
(43,584
)
 
$
(2,400
)
 
$
(45,984
)
Period change
 
6,292

 
628

 
6,920

Ending balance December 31, 2012
 
$
(37,292
)
 
$
(1,772
)
 
$
(39,064
)
Period change
 
(17,718
)
 
314

 
(17,404
)
Ending balance December 31, 2013
 
$
(55,010
)
 
$
(1,458
)
 
$
(56,468
)

The tax impact of the unrealized gains/ (losses) on cash flow hedges in accumulated other comprehensive income at December 31, 2013, 2012 and 2011 was $0.2 million, $0.4 million, and $0.2 million, respectively. Translation adjustments are not tax-effected as the Company’s net investment in foreign subsidiaries and all related foreign earnings are deemed permanently invested.

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