During the three months ended September 30, 2016, we repurchased 24,795 of our common shares for $2.8 million. Included in this total were rights to 8,795 shares valued at $1.0 million that were surrendered to us pursuant to the terms of a stock-based compensation plan in consideration of the participants' tax burdens that may result from the issuance of common shares under that plan. During the nine months ended September 30, 2016, we repurchased 34,959 of our common shares for $3.9 million. Included in this total were rights to 18,959 shares valued at $2.2 million that were surrendered to us pursuant to the terms of a stock-based compensation plan in consideration of the participants' tax burdens that may result from the issuance of common shares under that plan. Such common shares, unless canceled, may be reissued for a variety of purposes such as future acquisitions, non-employee director stock awards or employee stock awards. We distributed 29,028 and 62,920 treasury shares upon vesting of stock-based awards during the three and nine months ended September 30, 2016, respectively.

In February, May and August 2016, we paid quarterly dividends of $0.55 per share of common stock. In addition, on October 11, 2016, we declared a quarterly dividend of $0.55 per share of common stock for shareholders of record on October 21, 2016 and payable on November 22, 2016.

On May 17, 2016 we completed a public offering of 1,475,000 shares of our common stock. The purchase price paid by the underwriter was $116.67 per share. On May 26, 2016, the underwriter exercised in full its option to purchase an additional 221,250 shares of common stock at the public offering price of $116.67 per share bringing the total shares issued from the offering to 1,696,250. The net proceeds from these issuances of common stock were $197.2 million, after deducting underwriting discounts and offering expenses. The proceeds were used to repay a portion of the outstanding borrowings under our Credit Facility.

At the annual meeting of shareholders on May 19, 2016, our shareholders approved the cancellation of 1,250,000 shares of our common stock then held as treasury stock. This treasury stock was cancelled on August 2, 2016, after the expiration of the waiting period required under Dutch law. In accordance with ASC 505-30-30-8, we charged the excess of the cost of the treasury stock over its par value to additional paid-in capital.

The following table summarizes our changes in equity for the nine months ended September 30, 2016 (in thousands, except share data):



	Shares Outstanding		Common Shares			Additional Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Non-Controlling Interest			Total Equity
December 31, 2015	42,375,905		$	1,142		$	—		$	219,207		$	(10,538	)	$	(238,875	)	$	5,365		$	(23,699	)
Stock based-awards	62,920		—			8,457			—			—			8,305			—			16,762
Tax detriment of stock-based awards	—		—			(187		)	—			—			—			—			(187		)
Repurchase of common shares	(34,959	)	—			—			—			—			(3,962		)	—			(3,962		)
Issuance of common shares	1,696,250		38			197,164			—			—			—			—			197,202
Dividends paid	—		—			—			(70,883		)	—			—			—			(70,883		)
Cancellation of treasury shares	—		(32		)	(142,955		)	—			—			142,987			—			—
Non-controlling interest dividends	—		—			—			—			—			—			(211		)	(211		)
Amortization of deferred pension costs, net of tax	—		—			—			—			290			—			—			290
Interest rate swaps, net of tax	—		—			—			—			(1,005		)	—			—			(1,005		)
Net income	—		—			—			48,436			—			—			54			48,490

September 30, 2016	44,100,116		$	1,148		$	62,479		$	196,760		$	(11,253	)	$	(91,545	)	$	5,208		$	162,797

Accumulated other comprehensive income (loss) consisted of the following (in thousands, net of tax):



	September 30, 2016			December 31, 2015
Prior service cost	$	618		$	661
Unrecognized net actuarial loss	(9,868		)	(10,201		)
Fair value of derivatives	(2,003		)	(998		)
Total accumulated other comprehensive income (loss)	$	(11,253	)	$	(10,538	)