Equity

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Equity

During the three months ended March 31, 2017, we repurchased 10,752 of our common shares for $1.3 million. These consisted of rights to shares 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 35,222 treasury shares upon vesting of stock-based awards during the three months ended March 31, 2017.

In February 2017, we paid a quarterly dividend of $0.55 per share of common stock. In addition, on April 18, 2017, we declared a quarterly dividend of $0.55 per share of common stock for shareholders of record on April 28, 2017 and payable on May 23, 2017.

The following table summarizes our changes in equity for the three months ended March 31, 2017 (in thousands):

	Common Shares		Additional Paid-In Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Non-Controlling Interest			Total Equity
December 31, 2016	$	1,148	$	52,850	$	187,957		$	(9,828	)	$	(80,773	)	$	3,943		$	155,297
Adoption of ASU 2016-09 (see note 14)	—		84		(84		)	—			—			—			—
Stock based-awards	—		1,506		—			—			4,217			—			5,723
Repurchase of common shares	—		—		—			—			(1,273		)	—			(1,273		)
Dividends paid	—		—		(24,284		)	—			—			—			(24,284		)
Non-controlling interest dividends	—		—		—			—			—			(27		)	(27		)
Amortization of deferred pension costs, net of tax	—		—		—			68			—			—			68
Interest rate swaps, net of tax	—		—		—			161			—			—			161
Net income	—		—		17,658			—			—			24			17,682
March 31, 2017	$	1,148	$	54,440	$	181,247		$	(9,599	)	$	(77,829	)	$	3,940		$	153,347

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

	March 31, 2017			December 31, 2016
Prior service cost	586			600
Unrecognized net actuarial loss	(9,687		)	(9,769		)
Fair value of derivatives, net of tax	(498		)	(659		)
Total accumulated other comprehensive income (loss)	$	(9,599	)	$	(9,828	)