eFax 2014 Annual Report Download - page 49
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Foreign exchange gains and (losses) were not material to our earnings in 2014, 2013 or 2012. For the years ended December 31, 2014
, 2013 and 2012, net foreign
currency transaction gain/(loss) amounted to $(0.1) million, $0.4 million and $(0.1) million, respectively. During the year ended December 31, 2014
and 2013, cumulative
translation adjustments included in other comprehensive income amounted to $(14.7) million and $0.1 million, respectively.
We currently do not have derivative financial instruments for hedging, speculative or trading purposes and therefore are not subject to such hedging risk. However, we
may in the future engage in hedging transactions to manage our exposure to fluctuations in foreign currency exchange rates.
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