Shareholders' Equity

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Shareholders' Equity

Note 10 — Shareholders’ Equity

Treasury Stock

On May 2, 2012, the Board authorized a share repurchase program that allowed for the repurchase of 500,000 shares of common stock. On November 14, 2016, our Board authorized a new share repurchase program under which we may repurchase up to 500,000 shares of common stock. This authorization replaces the Board’s prior May 2, 2012 share repurchase authorization. Under the share repurchase program, we may repurchase shares from time to time using a variety of methods, which may include open market transactions and privately negotiated transactions.

The Company purchased 90,000 shares during the three months ended June 30, 2019. Since the inception of the November 14, 2016 authorization, we have repurchased 155,915 shares of common stock for $0.3 million and, as of June 30, 2019, we had remaining authorization to repurchase 344,085 additional shares. The treasury stock held as of June 30, 2019 was acquired at an average price of $38.61 per share.

Following is a summary of treasury share activity:

	Treasury Shares
Balance as of December 31, 2018		550,302
Purchases		90,000
Restricted stock grants		—
Forfeitures and other		—
Balance as of June 30, 2019		640,302

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss and related activity consisted of the following:

(In millions)	Defined Benefit Plans
Balance as of December 31, 2018	$	(20.7	)
Amounts reclassified from accumulated other comprehensive income, net of tax		0.1
Balance as of June 30, 2019	$	(20.6	)

Details of amounts reclassified from accumulated other comprehensive loss and the line item in the Condensed Consolidated Statements of Operations are as follows:

	Amounts Reclassified from Accumulated Other Comprehensive Loss									Affected Line Item in the Condensed
	Three Months Ended June 30,				Six Months Ended June 30,					Consolidated Statements of Operations Where
(In millions)	2019		2018		2019		2018			(Gain) Loss is Presented
Amortization of net actuarial loss	$	0.0	$	0.1	$	0.1	$	0.2		Other income (expense)
Cumulative translation adjustment		0.0		0.1		0.0		(0.2	)	Discontinued operations
Total reclassifications for the period	$	0.0	$	0.2	$	0.1	$	—

Income taxes are not provided for cumulative translation adjustment relating to permanent investments in international subsidiaries. Reclassification adjustments are made to avoid double counting in comprehensive income (loss) items that are also recorded as part of net income (loss) and are presented net of taxes in the Consolidated Statements of Comprehensive Income (Loss).