XML 25 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Equity
9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Equity

During the three months ended September 30, 2017, we repurchased 8,404 of our common shares for $0.8 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. During the nine months ended September 30, 2017, we repurchased 77,832 of our common shares for $8.2 million; included in this total were rights to 22,832 shares valued at $2.5 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 27,453 and 73,855 treasury shares upon vesting of stock-based awards during the three and nine months ended September 30, 2017, respectively.

In February, May and August 2017, we paid quarterly dividends of $0.55 per share of common stock. In addition, on October 10, 2017, we declared a quarterly dividend of $0.55 per share of common stock for shareholders of record on October 20, 2017 and payable on November 21, 2017.

The following table summarizes our changes in equity for the nine months ended September 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

 
8,834

 

 

 
8,489

 

 
17,323

Repurchase of common shares

 

 

 

 
(8,197
)
 

 
(8,197
)
Dividends paid

 

 
(72,861
)
 

 

 

 
(72,861
)
Non-controlling interest dividends

 

 

 

 

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

 

 

 
204

 

 

 
204

Interest rate swaps, net of tax

 

 

 
114

 

 

 
114

Net income

 

 
61,434

 

 

 
10

 
61,444

 
 
 
 
 
 
 
 
 
 
 
 
 

September 30, 2017
$
1,148

 
$
61,768

 
$
176,446

 
$
(9,510
)
 
$
(80,481
)
 
$
3,926

 
$
153,297


Accumulated other comprehensive income (loss) consisted of the following (in thousands):
 
September 30,
2017
 
December 31,
2016
Prior service cost
$
556

 
$
600

Unrecognized net actuarial loss
(9,521
)
 
(9,769
)
Fair value of derivatives, net of tax
(545
)
 
(659
)
Total accumulated other comprehensive income (loss)
$
(9,510
)
 
$
(9,828
)