IMPAIRMENT OF INVESTMENT IN BOA VISTA SERVICOS |
3 Months Ended |
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Mar. 31, 2016 | |
| IMPAIRMENT OF COST METHOD INVESTMENT [Abstract] | |
| IMPAIRMENT OF INVESTMENT IN BOA VISTA SERVICOS |
IMPAIRMENT OF INVESTMENT IN BOA VISTA SERVICOS
We hold a 15% equity interest in Boa Vista Servicos ("BVS"), which is the second largest consumer and commercial credit information company in Brazil. This investment is recorded in other assets, net, on the Consolidated Balance Sheets and is accounted for using the cost method. As of December 31, 2015 our investment in BVS was recorded at 44 million Brazilian Reais, which approximated the fair value. The fair value was determined by management using income and market approaches. The carrying value has decreased by $38.2 million related to the foreign exchange impact since 2011, which is included in the foreign currency translation adjustments in accumulated other comprehensive income. As of March 31, 2016, our investment in BVS, recorded at 44 million Reais ($12.3 million), approximated the fair value.
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- Definition IMPAIRMENT OF COST METHOD INVESTMENT [Abstract] No definition available.
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- Definition The entire disclosure for investments accounted for under the cost-method. The carrying amount of such investments may be adjusted, for example, distributions in excess of cost (return of capital) or for other-than-temporary impairments. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries in which the entity does not have the ability to exercise significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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