Stockholders' Equity

12 Months Ended

Dec. 31, 2016

Stockholders' Equity

Stockholders' Equity

Note 14 — Stockholders’ Equity

Accumulated Other Comprehensive Income

The following table presents the changes in the balances of each component of AOCI, net of tax:

							Unrealized
	Foreign Currency			Minimum Pension			Gains (Losses) on Available for Sale
	Translation			Liability			Securities			Total
	(in thousands)
Balance at December 31, 2013	$	5,326		$	(736	)	$	31		$	4,621
Other comprehensive income (loss) before reclassifications	149			(145		)	51			55
Amounts reclassified from AOCI	(3,142		)	—			(65		)	(3,207		)
Other comprehensive income (loss)	(2,993		)	(145		)	(14		)	(3,152		)
Balance at December 31, 2014	2,333			(881		)	17			1,469
Other comprehensive income (loss)	(87		)	15			(49		)	(121		)
Balance at December 31, 2015	2,246			(866		)	(32		)	1,348
Other comprehensive income (loss), before reclassifications	(19		)	—			(6		)	(25		)
Amounts reclassified from AOCI	(430		)	866			18			454
Other comprehensive income (loss)	(449		)	866			12			429
Balance at December 31, 2016	$	1,797		$	—		$	(20	)	$	1,777

The Company did not allocate additional tax expense (benefit) to other comprehensive income (loss) for all years presented as the Company is in a full valuation allowance position such that a deferred tax asset related to amounts recognized in other comprehensive income is not regarded as realizable on a more-likely-than-not basis.

During 2016, the Company finalized the process to terminate a defined benefit plan. As a result, the Company reclassified the minimum pension liability of $0.9 million, net of a tax benefit of $0.4 million, from “Accumulated other comprehensive income” in the Consolidated Balance Sheets to “Other, net” in the Consolidated Statements of Operations. Additionally the Company completed its plan to liquidate its ALD subsidiary in Korea. As a result of this liquidation, a cumulative translation gain of $0.4 million was reclassified from “Accumulated other comprehensive income” to “Other, net” in the Consolidated Statements of Operations.

During 2015, there were minimal realized gains reclassified from “Accumulated other comprehensive income” in the Consolidated Balance Sheets to “Other, net” in the Consolidated Statements of Operations.

Preferred Stock

The Board of Directors has authority under the Company’s Certificate of Incorporation to issue shares of preferred stock, par value $0.01, with voting and economic rights to be determined by the Board of Directors. As of December 31, 2016 no preferred shares have been issued.

Treasury Stock

On October 28, 2015, the Board of Directors authorized the repurchase of up to $100 million of the Company’s outstanding common stock through October 28, 2017. Repurchases are expected to be made from time to time on the open market or in privately negotiated transactions in accordance with applicable federal securities laws. During 2016, the Company purchased 0.7 million shares for $13.0 million. At December 31, 2016, $22.3 million of the $100 million had been utilized.

The Company records treasury stock purchases under the cost method using the first-in, first-out (FIFO) method. Upon reissuance of treasury stock, amounts in excess of the acquisition cost are credited to additional paid-in capital. If the Company reissues treasury stock at an amount below its acquisition cost and if additional paid-in capital associated with prior treasury stock transactions is insufficient to cover the difference between the acquisition cost and the reissue price, this difference is charged to accumulated deficit.