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Equity
6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Equity

During the three months ended June 30, 2017, we repurchased 58,676 of our common shares for $6.1 million; included in this total were rights to 3,676 shares valued at $0.4 million 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 six months ended June 30, 2017, we repurchased 69,428 of our common shares for $7.4 million; included in this total were rights to 14,428 shares valued at $1.7 million 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 11,180 and 46,402 treasury shares upon vesting of stock-based awards during the three and six months ended June 30, 2017, respectively.

In February and May 2017, we paid quarterly dividends of $0.55 per share of common stock. In addition, on July 6, 2017, we declared a quarterly dividend of $0.55 per share of common stock for shareholders of record on July 17, 2017 and payable on August 14, 2017.

The following table summarizes our changes in equity for the six months ended June 30, 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

 
6,109

 

 

 
5,453

 

 
11,562

Repurchase of common shares

 

 

 

 
(7,388
)
 

 
(7,388
)
Dividends paid

 

 
(48,590
)
 

 

 

 
(48,590
)
Non-controlling interest dividends

 

 

 

 

 
(27
)
 
(27
)
Amortization of deferred pension costs, net of tax

 

 

 
136

 

 

 
136

Interest rate swaps, net of tax

 

 

 
71

 

 

 
71

Net income

 

 
40,348

 

 

 
43

 
40,391

 
 
 
 
 
 
 
 
 
 
 
 
 

June 30, 2017
$
1,148

 
$
59,043

 
$
179,631

 
$
(9,621
)
 
$
(82,708
)
 
$
3,959

 
$
151,452


Accumulated other comprehensive income (loss) consisted of the following (in thousands):
 
June 30,
2017
 
December 31,
2016
Prior service cost
572

 
600

Unrecognized net actuarial loss
(9,605
)
 
(9,769
)
Fair value of derivatives, net of tax
(588
)
 
(659
)
Total accumulated other comprehensive income (loss)
$
(9,621
)
 
$
(9,828
)