XML 29 R18.htm IDEA: XBRL DOCUMENT v3.19.1
SUPPLEMENTAL EQUITY INFORMATION
3 Months Ended
Mar. 31, 2019
SUPPLEMENTAL EQUITY INFORMATION  
SUPPLEMENTAL EQUITY INFORMATION

10.  SUPPLEMENTAL EQUITY INFORMATION

 

Accumulated Other Comprehensive Loss

 

Our accumulated other comprehensive loss (“AOCL”) and reclassifications from AOCL, net of tax, consisted of the following: 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

Other

    

 

 

 

 

 

Minimum

 

Comprehensive

 

 

 

 

 

 

Pension and

 

Loss

 

 

 

 

 

 

Post-

 

Related to

 

 

 

 

 

 

Retirement

 

Equity

 

 

 

 

(in thousands)

 

Liability

 

Investments

 

Total

 

Balance at December 30, 2018

 

$

(595,820)

 

$

(8,469)

 

$

(604,289)

 

Other comprehensive income (loss) before reclassifications

 

 

17,745

 

 

 —

 

 

17,745

 

Amounts reclassified from AOCL

 

 

4,807

 

 

 —

 

 

4,807

 

Other comprehensive income

 

 

22,552

 

 

 —

 

 

22,552

 

Balance at March 31, 2019

 

$

(573,268)

 

$

(8,469)

 

$

(581,737)

 

 

 

 

 

 

 

 

 

 

 

 

Amount Reclassified from AOCL

 

 

 

Three Months Ended

    

 

(in thousands)

March 31,

 

April 1,

 

Affected Line in the Condensed

AOCL Component

2019

 

2018

 

Consolidated Statements of Operations

Minimum pension and post-retirement liability

$

4,807

   

$

5,550

 

Retirement benefit expense (1)

_____________________

(1) There is no income tax benefit associated with the three months ended March 31, 2019, or April 1, 2018, due to the recognition of a valuation allowance. 

 

Stock Plans Activity

 

The following table summarizes the restricted stock units (“RSUs”) activity during the three months ended March 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

Average Grant

 

 

 

 

Date Fair

 

    

RSUs

    

Value

Nonvested — December 30, 2018

 

331,600

 

$

9.56

Granted

 

285,771

 

$

5.58

Vested

 

(164,042)

 

$

9.68

Forfeited

 

(2,920)

 

$

9.30

Nonvested — March 31, 2019

 

450,409

 

$

6.99

 

The total fair value of the RSUs that vested during the three months ended March 31, 2019, was $0.9 million.

 

The following table summarizes the stock appreciation rights (“SARs”) activity during the three months ended March 31, 2019: 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Weighted

    

Aggregate

 

 

 

 

Average

 

Intrinsic Value

 

    

SARs

    

Exercise Price

    

(in thousands)

Outstanding December 30, 2018

 

113,300

 

$

32.13

 

$

 —

Expired

 

(4,000)

 

$

34.20

 

 

 

Outstanding March 31, 2019

 

109,300

 

$

32.05

 

$

 —

 

Stock-Based Compensation

 

All stock-based payments, including grants of stock appreciation rights, restricted stock units and common stock under equity incentive plans, are recognized in the financial statements based on their grant date fair values. As of March 31, 2019, we had two stock-based compensation plans. Stock-based compensation expenses are reported in the compensation line item in the condensed consolidated statements of operations. Total stock-based compensation expense for the periods presented in this report, are as follows:

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

April 1,

(in thousands)

 

2019

 

2018

Stock-based compensation expense

    

$

663

 

$

741

 

 

Earnings Per Share (EPS)

 

Basic EPS excludes dilution from common stock equivalents and reflects income divided by the weighted average number of common shares outstanding for the period.  Diluted EPS is based upon the weighted average number of outstanding shares of common stock and dilutive common stock equivalents in the period. Common stock equivalents arise from dilutive stock appreciation rights and restricted stock units and are computed using the treasury stock method. Anti-dilutive common stock equivalents are excluded from diluted EPS. The weighted average anti-dilutive common stock equivalents that could potentially dilute basic EPS in the future, but were not included in the weighted average share calculation, consisted of the following:

 

 

 

 

 

 

 

Quarters Ended

 

 

March 31,

 

April 1,

(shares in thousands)

 

2019

 

2018

Anti-dilutive common stock equivalents

    

160

    

224